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tv   Varney Company  FOX Business  March 15, 2024 10:00am-11:00am EDT

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stuart: why are we doing the drunken sailor? i've been to dublin, this song is played by the irish, we are playing this because it is st. patrick's day on sunday. >> the most american bar and all of dublin. if you want an irish bar, don't go to the temple bar in dublin. stuart: enough with the music, 10:00 eastern, straight to the money, red in color, the dow is down one hundred 30, nasdaq is down one hundred 30 points too. the 10 year treasury yield has been going up and it is up again today, 431 on the 10 year. the price of oil has not retreated from $80 a barrel, it is $80.65. it . it is bitcoin that has retreated. there are 73,000, now we are back to $68,000.
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latest read on consumer sentiment, preliminary reading from march, 76.5, lower-than-expected a drop from last month's reading of 76, no immediate impact on the market. now this. it was a dramatic moment, new york details and brag to the podium and announced a delay in donald trump's hush money case. the whole point of the legal attack on the former president is to get him into them into court and preferably convicted before the election, that aggressive timetable is slipping. while he was making the announcement trump was in court in florida with the mishandling of classified documents case. he had to sit in court rather than campaign. that's a success for biden. there still no trial date however and this just came in. the judge in the georgia election case against trump ruled that fans a by willis can stay on the case but only if
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her former romantic partner nathan wade withdraws. the trial will likely be delayed that word again, and shall after the election. court case number 4 is in dc, trump is accused of trying to overthrow the 2,020 election results, the supreme court will decide if he has immunity, the justices will not hold a hearing until next month. it is already delayed. there you have it. four cases with delays, complications, this is not the way it was supposed to go. the democrats wanted to parade wicked trump to the courts to convince the country that he's a bad guy who should be excluded from the election. what does that tell you about the democrats commitment to democracy. slime a presidential candidate in the middle of a presidential election because your guy might lose. can you say banana republic? i make no judgment on the charges trump faces but i do pass judgment on the lawfair
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tactic, etc. dreadful president. second hour of varney just getting started. tammy bruce with us, looks like biden's lawfair plan isn't working. >> this is what happens when you have an agenda of than justice and you move things because it appears to the american people to be the democrats campaign, 91 indictments and out capone had ten. the american people look funny at this was what the democrats are not used to, this is what concerns americans as well when it comes to justice reform, is a defendant is a target who has the money to defend himself. did they think he was going to stow go scanning bananas at walgreens? what did they think trump was going to do? he asserts his innocence. he is fighting back.
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the system is meant for people to be able to fight back but only if you have money so he is been able to do this. we see these rules, they were never secure in the first place, they were rushing it through and now the american people see another indication of where the justice system in some ways cannot be trusted. stuart: here's another one for you. the judge overseeing the trump case in florida questioned why he was the only president charged over the handling of classified material. >> i thought of the hunter biden case. part of the issue, prosecutors agreed, i've never seen this before. this is completely unusual and the prosecution admitted the sweetheart deal they had with hunter biden that got killed was unprecedented and so when a judge sees something that is highly unusual they are not
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there to rubberstamp stuff but many do. they are there to say why is this unique thing happening to this unique person that is not happen to anybody else? it's a legitimate question i would argue since the same question up the hunter biden plea-bargain case, this is the kind of thing that can point out bias and unfair prosecution and a lawfair dynamic, we will see how they continue to proceed. it is an unusual situation. we when i think trump is winning the legal battle. not that one in particular but across-the-board he is making progress. thanks very much. you've been sitting here listening to me. what do you make of what i'm saying? todd:i understand trump is not going to be happy with the decision but what he can be happy with if you look what the judge did in this case, this judge of all the judges in every case he's up against
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seems to be the most fair. judge cannon hasn't offered much in florida but people with real substantive decisions this judge seems the most fair. compare that to what we've seen in new york. there was no fairness coming out of the court system here. donald trump is being put on trial every time a decision comes down. in georgia -- liz: may not be unhappy with what happened in georgia because this is saying it's not that she can stay. one of them has to go. the prosecution has to restart. if she goes they have to restart. so this is highlighting i would argue it appears as corruption. it highlights that. lauren: it says if you want to keep the conflict -- stuart: he will be happy with the delay in the georgia case, exactly what he wants and biden doesn't want. let's get to the markets.
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what is this about gold gets punched in the face? what do you mean by that? kenny:it rallied up to 200 now at last month on the idea that the fed would cut rates and yesterday got hotter than expected ppi like harder than expected cpi so what did they do? gold traders knocked it down 25 points and traded at 21-57 yesterday as they digested the idea that rates aren't going down in may, june, or even july based on what i'm seeing from the data so you saw gold get pulled back so it last $25 and i said it was a punch in the head. stuart: good explanation. how come the market has rallied and it has rallied substantially even though the fed, the rate cuts from the fed have been pushed back to later this year? >> there's a couple things
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going on. gold is the ultimate safety play. when people get anxious and nervous whether it is about the economy or the political situation or conflict around the world people tend to flock to gold so part of the story is it's all the unrest around the world, conflict, the uneasiness in the political situation people feel the safety trade to but the other side of the argument is if rates come down, the dollar gets weaker and that's good for commodities because commodities are priced in dollars. as it get stronger commodities get lower and as it weakens the commodities will move higher and that is typically what happens with gold so we saw gold rally on the idea the fed was going to cut rates, so the dollar should decline. if it doesn't, the dollar will stay where it is and they will get gold. stuart: what are you cooking for st. patrick's day?
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>> i'm cooking cabbage. always after cooked cabbage on st. patrick's day, right? cabbage and pastrami. corned beef. corned beef and cabbage. i will tone it with spaghetti. stuart: at my age people on the set fill out my sentences. i'm coming at yours. kenny polcari, have a wonderful st. patrick's day and enjoy the cabbage. we have some movers i will tell you about starting with walgreens. they've announced they are closing a distribution center in connecticut laying off 300 employees, warehouse in orlando, florida on the chopping block bringing the total number of jobs lost at walgreens to 600. the stock likes it, investors like it, stock is up as well. alta beauty, the maker people down after reporting a soft forecast today. analysts are positive on the stock, price target of 625,
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stock is down 6.8% as we speak. alta beauty down. groupon, the discount people reported mixed earnings results, revenue down, fell short. the company posted net income of 28 million in the fourth quarter. who cares? stock is down 16%. several people have expect interest in buying tiktok if it is forced to sell. todd is with me for the hour, who's interested in buying? todd:a big name is former treasury secretary steve mnuchin put together group to purchase tiktok, this comes after the house voted to approve a bill that would ban tiktok if it's chinese owner, by gdansk, does not the vest itself. nugent has been part of the trump administration, could be valued at $100 billion, china said it would oppose a forced sale of tiktok. venture-capital chairman kevin o'leary has expressed interest in buying the platform. he will join you later this
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hour to see how serious he really is. you going to person? stuart: i shall indeed. the tsa expanding facial recognition technology to 30 airports, critics are worried this technology will store and protect your biometrics properly, gerri willis has that report coming up. kamala harris asked what she does every day as vice president, she struggled to come up with an answer. >> how do you spend your time? what you do? >> in terms of the work, by now, i've count on 150 world leaders. lauren: 20 stuart: we will play the full tape after this. ♪ trading at schwab is now powered by ameritrade, unlocking the power of thinkorswim, the award-winning trading platforms.
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stuart: on the market as of right now, 35 minutes into the session the losses are narrowing on the dow, down 73, expanding the nasdaq, down one hundred 23. show me micron please, they are up-to-date, city says the stock could surge 60% because of its involvement in ai, city says the stock will reach 150. is 93 now. tsa expanding its facial recognition technology to 30 airports across the country. there are security concerns over the new system, storing data without consent. gerri willis at laguardia airport. how the travelers feel about having their face scanned when they are traveling. cheryl: several folks here, one lady told us my face is on
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facebook, tiktok, they are cameras anywhere, how is this different. we talked to one businessman who said this is too much big government, too much big brother. we spent some time looking into this, interviewed the lead engineer on the technology being used here as well as lawmakers who are worried about the issue of privacy. listen. >> your id for me. >> next time you're at the airport you might notice you get through security with just id and a photo. it's part of a tsa pilot project to assess the use of facial recognition technology. travelers insert their id into a card reader, the machine checks to make sure the images matches the id to make sure the identification is real. >> it's better fiscal security. so safety about the airplane. blue one so far the technology
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is being tested in 30 airports across the country coming to 400 over time. since the debut the program has come under scrutiny by some elected officials and privacy advocates. >> where are you going with this, how do you know you're getting rid of it before someone is dealing with that data as well. americans are concerned this is another step of the government assessing our personal data. >> reporter: tsa officials tell us they are not retaining data with the exception of select airports where they are collecting data from volunteers no longer than 24 months to improve the technology. and i want to mention there's some confusion over the program, some say it will get me through the line faster. the engineer we interviewed said no, not true. but he believes it's going to make people more secure and safer. stuart: thank you very much. todd biro is still with me. my picture is everywhere.
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passport, you name it. why should i care if i'm having my picture taken at the airport? lauren: multiple things can be true. i don't really care, do i trust the technology, absolutely not. 3, it is an intrusion on my privacy, sure, but so is everything we do. we are in a public job but even if we want, cameras are everywhere, they are doing this whether they tell it to our faces or not. the sum total of all this, if this prevents one horrific tragedy from happening i say it is worth it. i'm sure there are a lot of libertarians who would disagree with me but that's "my take". stuart: i could care less. thanks. great stuff. another one for you. vice president kamala harris dumbfounded when asked how she spent her time as vice president. role it. >> how do you spend your time, what do you do? >> in terms of the work, i have
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by now met over 150 world leaders. i've been a part of pushing forward an agenda on gun violence and safety. a lot of my work has been to get more money into community banks to extend access to capital for small businesses. stuart: would you like to comment on that? >> he answers that question often and she answers like iso when my wife asks what have you done all day? i went into the various rooms in the house and i did the work, but what did you do? the work. that the answer she always gives because she has not done anything from an input in input out perspective. i cannot answer this question. i know she has a lot of titles like border czar, proof is in the putting their. i'm not trying to be insulting to the woman. president biden put through the inflation reduction act. we disagree with it but it is
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something he did. in my heart of hearts and brain of brains don't know what kamala harris did. stuart: when it becomes president kamala harris she will have a lot to do it a lot to tell us about. todd:she will do the work. stuart: the white house accused of helping iran by renewing a sanctions waiver that unlocks $10 billion for the bullets. peter doocy has that story coming up. senate minority leader mitch mcconnell pressuring speaker johnson to get a deal done on aid for ukraine but is ukraine getting the support they need to win the war or at least stay in it? we are on it next. (♪) (♪) (♪)
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iran. what is the white house doing? wise the white house doing this? peter:they know iran will figure out a way to fund these terror proxies around the world but they want to figure out a way to help the iranians. >> iran is always going to fund terrorism. that's the first item when iran is going through whatever budget process iran goes through and this money helps the iranian people because it can only be used for humanitarian purposes. >> reporter: senator john cornyn thinks this is a gift to the number one state-sponsored terrorism including hamas. hamas terror attack on israel and benjamin netanyahu's responsive drag on too long for chuck schumer who is calling for new elections in israel and that has leaders in israel upset.
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>> from left to right when people are shocked to hear the vote of senator schumer. an issue we have in common with the us is democracy, the family of democracy and here in jerusalem when we have elections, who will be the prime minister. >> the irish prime minister is on his way 20 event at the white house, we expect to see many minute. i can hear the motorcade approaching a few blocks away. usually this would be a very festive event and it probably will be, the president love to quote irish poets but the irish prime minister plans to tell president biden people over there on the emerald isle would like a cease-fire. stuart: that an interesting point. peter doocy at the white house, thank you very much. giving $10 billion to the mullahs and iran? house that in our interests?
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peter it is fully once shame on you, fully once shame on me. we don't learn our lessons. you have to wonder how much the average american voters paying attention though this because if they are they have to hear that and say maybe i don't like trump's rhetoric, maybe i'm okay with biden on the other stuff but on this, out to lunch, we can't do this. stuart: wait until they announced they have a bomb. peter which is coming because we funded it. stuart: mitch mcconnell is putting pressure on speaker johnson to finish a deal i need to ukraine. watch this. >> the chilling reality is clear. withholding critical weapons has not helped manage vladimir putin's escalation. it has emboldened him. time for the house to take of the national security supplemental and finish the job. stuart: benjamin hall is with us in new york city.
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welcome to the show. you reported from the front lines. is ukraine in your opinion getting the support they needed to win the war and stay in the war? >> night at the moment. i speak to people in the front lines all the time, they don't have the weapons they need to fight back. they know ukraine can't defend itself. what the biden administration did his drip weapons because they didn't want to escalate the war and oppose russia. russia has become more emboldened but it hasn't worked. they need what they need right now. to any autocrats around the world -- stuart: it seems to be a republicans were holding things up. >> they are. immigration is a key issue that they want to solve. there are talks about coming up with another bill. lease program to get weapons over but that will take some months to put together.
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the ukrainians don't have a few months. they needed immediately. stuart: another subject you know a lot about, hamas. reuters is reporting this. hamas has presented a cease-fire proposal that includes release of israeli hostages in exchange for the freedom of some palestinian prisoners, lots of prisoners. what do you make of that proposal? >> the same proposal that was on the table a month ago so not a lot has changed. hamas asking for 702,000 prisoners, for all the women and injured still being held hostage including hundred who were serving life. some big characters. israel would do that, they won't do is remove forces from gaza. that's the remaining condition. every israeli soldiers to leave gaza. we went hamas is playing the game. they know that chuck schumer just said new elections initial, get rid of benjamin netanyahu. we are interfering in their electoral process and hamas is
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playing that game. >> amazing thing to see in dc. chuck schumer standing up and calling for an election with one of our greatest allies in the middle east. that was are markable. stuart: it all about michigan, domestic politics, not foreign politics, the election in michigan which biden is looking bad on. >> michigan has the highest number of arab americans in america, high-stakes and it was a day before the primary election there that president biden, holding ice cream said there was a hamas deal about to be done in the next couple days, real positive push. it was really good message for biden to send the day before the michigan primaries. this will play a key role in the election. of the one benjamin hall, good to see you, thanks for being with us. appreciate it. to lead, legendary football coach nick sabin has concerns about paying college athletes. we will ask if college athletes should be paid at all. current and former college
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athletes suing the ncaa over their transgender policy. riley gained leading the charge, she joins us to discuss a landmark lawsuit next. ♪ ♪ you were always so dedicated... ♪ we worked hard to build up the shop, save for college and our retirement. but we got there, thanks to our advisor and vanguard. now i see who all that hard work was for... it was always for you. seeing you carry on our legacy— i'm so proud. at vanguard, you're more than just an investor, you're an owner. setting up the future for the ones you love.
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at sandstormgold.com. stuart: on the markets, some red ink down, nasdaq is down 100 points. former ncaa swimmer riley gains filed a lawsuit against the ncaa over their policy of allowing biological men to compete in women's sports. jonathan hunt with me now. on what grounds are they suing? >> reporter: it amounts to a blistering critique of the ncaa and its policies that allow transgender athletes to compete
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alongside biological females, 16 women, current and former college athletes say the ncaa has simultaneously imposed a radical anti-woman agenda on college sports, reinterpreting title ix to define women as a testosterone level, permitting men to compete on men's, women's teams and destroy female safe spaces and women's locker rooms by authorizing naked men possessing for male genitalia the to disrobe in front of nonconsenting college women. and assailant e-mailed to fox the ncaa said, quote, college sports is at the premiere stage for women's sports in america and while the ncaa does not comment on pending litigation, association and its members should continue to promote title ix, make unprecedented investments in women's sports, and ensure fair competition in
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all ncaa championships. the lawsuit said the ncaa transgender policies violate title ix to order the organization to scrap those policies and damages to the women who are party to the suit. stuart: riley gains jointly. what's the reaction since filing the lawsuit? have you gotten a lot of hate mail? >> no. it has been an overwhelming amount of support. this is what people have been wanting. for so long, i thought to myself someone should sue the ncaa. they are violating the civil rights lobbying title ix. tapping on my shoulder saying it is you, you should sue, that's what we are doing. stuart: if you win, you've overturned the entire ncaa gender policy.
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>> that is the intent. what we are hoping for is the ncaa and forces fair and safe competition, the original intent is, two years since its passage under richard nixon. we've seen the strides made of women and something we should celebrate and honor but they said they will continue promoting title ix. what they are doing is dismantling title ix, the lack thereof. stuart: they are trying to make each sports separate. is that how they did it? dragging their feet? >> exactly what they have done. they are cowards to be totally honest with you. the ncaa had a policy for 12 years, from 2,010 to 2,022, this is the policy that allowed thomas to compete with the women.
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it was a hormone commercial saying 12 months of hrt and you can compete in the category that best suits you. after they saw how unfair this was and foresaw the problem of this they changed their policy, the phaseout approach where they leave the rules to each specific sport's governing body to make rules for their own sport which they don't want to be held accountable for this. they want to leave the rules on someone else or they don't have to deal with it and that tells you they know this is wrong. they know it is unfair. stuart: former college football coach nick sabin joined bret baer last night. here's what he had to say about paying college athletes. >> instead of having a collective driven name, image and likeness, revenue-sharing would be a lot better system, not just to pay for play system like we have now where whoever raises the most money in their collective can pay the most for
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the players which is not a level playing field. stuart: i want to know if you think any college athlete should be paid at all. >>, college athletes should be compensated if they are bringing in money for others. i understand what nick sabin is saying as getting a seat at the table for sure. but it diminishes the competitive playing field. you have people committing to schools based on where they can get the most money. it takes the push to play professionally especially in sports like college football or basketball, where you want to make it to the pro-plaps because you want to sign these contracts and make a lot of money, it loses the competitive drive. i'm in agreement with coach sabin. stuart: who should pay them? who pays the money? >> the schools who are making
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the money. they have these outside companies come in and sell jerseys of football players or basketball players against sports like swimming. i'm not going to be naïve and say we have received much revenue but sports like football and basketball, someone is profiting off these athletes and it is fair they get a percentage of that. stuart: always interesting, thank you for joining us this morning, great st. patrick's day, see you later. todd pyro. should college athletes be paid at all? todd:my heart tells me they should not be paid. my head says they should because the intense amount of revenue they are generating based upon them. when a jersey from one of these college athletes cells, millions upon millions of dollars, that man or woman should get some compensation for that. i love nick sabin's idea. it makes college sports more like college sports to put this
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money in a central part and to distribute it out, not have an arms race among the 5 teams with the biggest donors and basically going to pay for the championship year in and year out. it is pretty top-heavy in college football. if you don't do what nick sabin wants, there will be for four teams in the championship revere and college football will be like it is on sunday. it will be semi pro and it will lose something because college football is a unique and awesome sport. everyone thank you very much. senator bernie sanders wants businesses to pay employees the same amount for working one day less per week. hillary vaughan got into a feisty exchange with the senator. hillary has that report coming up. kevin o'leary, the house passable cracking down on their apps. is he still interested? i will ask him. mr. wonderful is next.
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stuart: senator bernie sanders wants businesses to pay people for working a day less. hillary vaughan caught up with the senator. you pressed him on this issue. what did he say? >> reporter: he's comparing every business owner to jeff bezos. we tried to ask about these democratic proposals that are stacking up from wanting to tax businesses more, wanting businesses to pay their workers more, wanting businesses to lower prices to fix inflation and now the latest proposal, the idea they expect businesses to pay people not to work. how are businesses going to survive that? that's the question. how can businesses survive those proposals? >> jeff bezos pays a tax rate lower than the average worker. we have a real problem in our tax system. i think the billionaires have to start paying their fair share of taxes. >> reporter: republicans said
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this idea would be a business killer and also doubting it's a realistic idea that has enough support to pass congress. >> this should be be napalm upon the fire of inflation. i apologize if this hearing gives anyone false hope but a mandatory 30-12 is bad policy. even democrats unanimously support this but may give us an understanding where the biden administration is standing. we are up to a tough reelection. >> reporter: republicans saying this hearing was held on this workweek ideas away for democrats to try to bring support ahead of november and republicans saying because this is not going to get enough support to pass through congress perhaps the president is considering doing this by executive order. stuart: great reporting, the man behind the four day
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workweek campaign claims the schedule will give people a better work/life balance. >> of 32 hour workweek, people want to work, the notion that americans are lazy that some people seem to have is inaccurate. people want to work but they want to work in a way that's balanced with the rest of their lives and they will stay in those jobs longer if the job is compatible with the rest of their lives. stuart: we need mr. wonderful, kevin o'leary. what do you make about 32 hour work week and work/life balance? >> there are bad ideas, there are very bad ideas, and there are very very very bad ideas and then there ideas that are so bad they are un-american. that falls into all of those categories. this is an insane idea. it is never going to happen. think about the competition of countries, we are the number one economy on earth for a reason. of heard of the company strives
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to be entrepreneurial, there's no work/life balance when you start your business. you do that to achieve financial freedom. that the american dream, the definition of the american dream. that's what entrepreneurs do every day. if you don't come in on saturday don't bother coming in on sunday. that's the whole idea of what you do to achieve success in an economy when competing with mumbai and shanghai, this is dead on arrival. an incredibly bad idea. stuart: i like the emphatic refusal to accept socialism. another story for you. you said you are interested in buying tiktok and turning it into a new american company. it would take a hundred billion to buy it. can you get that kind of money to get a? >> i can but it won't be 100 billion. everyone knows the 15 rules of capital, that's not where the risk is. you have to think of it this way. what are the big risks of this deal? we have precedents we can look
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at. look what happened to twitter? they worked to change it, change to the interface. we lost 2 thirds of your money there. you have to think from the top down, how do you keep users motivated to stay on the platform? they are very finicky. that's where i have a huge advantage. most of the people on twitter our young entrepreneurs. 170 million of them trying to launch businesses in their teens, 20s and 30s. they spent $9 billion in advertising. that's how they acquire customers. 80% of them know who i am. you can't say that for any other banker. they want to be shark tank. i know that sounds crazy but i believe it to be true. you have to be the steward explaining to them from day one how i am going to turn this from tiktok china into tiktok usa. the money follows that.
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there are many us platforms to tap, conversations going on every morning, since this bill got momentum in the house from 7:00 a.m. to 10:00 on the phone, think about this. where do you serve it from? we've got something like a rumble domestically, serving podcast videos in higher definition longer form. they can serve -- we can move on to their. all kinds of players, i'm going to be in that mix. it is hairy, it is scary, but it has huge value. stuart: would you agree with me that this deal or a ban on tiktok will not happen before the election? >> i agree. this will get stalled out. everyone is watching like a hawk. it's not real. there won't be junk a ball. ball. there will be five groups trying to form syndicates to do this. the number is more 60 to 80 billion. the players are already in the deal.
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there's lots of us domestic investors owning a piece of bike dance and they are liquid now, can't do anything but you are right. i don't think they consider it until april and it will be challenged in court but it doesn't mean it won't happen. they had 200 million users in india when india turned the switch because they got concerned about cognitive warfare and that is what the senate and congress is concerned about. they don't like this platform. they want to turn it off. the chinese don't want to sell it. this will be like india. it will go dark. and it won't change anybody's rights. some other platforms exist and maybe new ones. stuart: a lot of youngsters also vote. you agree with that. >> they will get over it. they did it 200 million youngsters, no problem, they move on quickly. stuart: mister wonderful, you are wonderful, come back soon. see you soon.
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i've got to say thank you for staying with us for the hour. todd:you heard it here first, i'm not on tiktok now but i will be if it becomes american. stuart: you will earn some money. it todd:nothing about the money. stuart: a judge in georgia's election case against trump has ruled fani willis must step aside or fire special prosecutor nathan wade. one of them has to go. what does shannon bream think of that? jack keane is with us, not happy military spending will go up 1%. china is raising spending 7 person. tom a laren on how tiktok will turn young voters away. the 11:00 hour is next.
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