tv Wall Street Week FOX Business August 26, 2017 12:00am-12:30am EDT
congressman trent franks and ambassador alton are among our guests on monday and please join melissa on "after the bell" at 4:00 p.m. right here on "fox business" every week day.good n. from "fox business" headquarters in new york city the new "wall street week". maria: welcome to "wall street week" a program that analyzes the week that was and helps position you for the week ahead. i maria bartiromo. coming up in a few moments some of the biggest voices in the startup scene will join our roundtable. headlines impacting everything from wall street to main street this past week. reporter: federal reserve chair janet yellen is at the annual conference in jackson hole wyoming on friday and neglected to offer clues on the future of monetary policy. she did argue that these
regulations and reform has made the u.s. financial system a safer place. maria: the market seemed to like the fed chair's comments. dow closing higher in the nasdaq and s&p also turning positive for the week three president trump letting out his new plan for the war in afghanistan. the president says the u.s. will shift away from nation-building approach and instead focus on killing terrorists. the u.s. will also put more pressure on pakistan a country that harbors taliban. plus trump's chief economic adviser gary cohn says he's facing enormous person -- pressure to resign after the violence in charlottesville. he even drafted a letter of resignation. in interview with the financial times he said the must do a better job condemning neo-nazis and white supremacists. colin is a key member of trump's economic team and is noticed to
be on the shortlist for the next federal reserve chair. your asparagus waters about to get a bit cheaper. amazon's $13.7 billion acquisition with whole foods closes on monday and the giant is promising to/grocery prices immediately. whole foods also introducing a prime membership loyalty program which will offer those shoppers special deals. maria back to you. maria: thanks. technology is the second best performing sector and the s&p 500 after president trump's election victory last november of 25% since november but even amazon facebook and google contributing to gain some tech companies are offering to stay private longer. they are more
you are saying a shakeout of the winners and losers. >> you make a good point because what we are seeing are these large companies fight facebook and amazon netflix google companies. they have their own investing so they are saying forget about private equity. we are going to invest directly in companies and you are the end of fishery or it. how does that go down, tell us about your company. >> it's a digital meeting company. mid-teens to mid-30s. we had business number to tease me.
we have a media company and real-life experience with in spite of problem with disney as they haven't figured out how to tap into this young audience that we did just that. similar business off this is a new audiences. maria: you are saying large-company saying we can do this on our own. we will put money behind the startup. >> was becoming clear is it's hard to build these companies. it takes more than a day or an hour. it's hard to take a vision of a company and say let's replicated and you find somebody like rattu has 130 million visitors a month where are you going to build that from inside of your own company? so i think you are seeing large companies recognize it's better to partner and invest as opposed to own or create everything so i think you'll see some of that and if you look at big real estate companies that you never thought would want to participate in the marketplace, so i think it is a trend.
maria: tell us about cadre mages recently had this successful round. >> we recently announced $65 million led by andreessen aura with and jeff jordan just joined our board and i saw a few years ago the session you did with jeff and brian. that phase of companies becoming what it is today and we believe cadre will also be the next dimension of transformation and in our world what we are really focused on this redefining investing. the same way amazon changed spending, buying. 10 years from now we want cadre to be the catalyst of the investor world of specifically what we are building is the stage iv real estate investment. maria: you come with the experience of a real estate business. >> lack stone was an incredible platform and experience and the
institutions that built a great business. the way we think about our business model i cadre is if i would ask you what is the largest most profitable industry in the world most people wouldn't know the answer. it's real estate, and 80 chilean dollar industry and you've seen transformation with airbnb and car sharing with uber but no one knows is the biggest industry in the world. we are adding a new dimension that may be a blackstone institution built on different principles. that's what's so exciting about the opportunity. maria: your store has become incredibly successful in the short period of time. congratulations to you as well. what are you trying to do and talk to us about what you need to do to take it to the next level. >> we believe we have an opportunity to create the local social networks so we connect with friends use twitter and find people that we think are into string and they connect to colleagues. there hasn't been a social network until next door.
that's the inspiration for the company that we started five years ago. today over 80% of american neighborhoods use next door. the last round was over a billion dollars in the interesting change that has occurred that these guys are talking about is money is everywhere for great companies. you can choose to get it for my traditional pathway like a venture capitalist or late stage investor or corporate partner. at the end of the day was important for us as we try to fulfill these grand ambitions is find the best partner. maria: when we come back we will talk about that. stay right there, "wall street week" comes right back. stay with us. potsch: you each drive a ford pickup, right? (in unison) russ, leland, gary: yes. gary: i have a ford f-150. michael: i've always been a ford guy. potsch: then i have a real treat for you today. michael: awesome. potsch: i'm going to show you a next generation pickup. michael: let's do this.
potsch: this new truck now has a cornerstep built right into the bumper. gary: super cool. potsch: the bed is made of high-strength steel, which is less susceptible to punctures than aluminum. jim: aluminum is great for a lot of things, but maybe not the bed of a truck. potsch: and best of all, this new truck is actually- gary: (all laughing) oh my... potsch: the current chevy silverado. gary: i'm speechless. gary: this puts my ford truck to shame. james: i'll tell you, i might be a chevy guy now. (laughing)
maria: welcome back. president chen begin it clear that technology industries a central focus in this economy. through meetings with industry leaders like apple and amazon's jeff bezos. we are back with our panel. great to see everybody and that's my question for you ryan because he were a small start up relative to what we are talking about in terms of the impact on tax reform and some of these policies. what's the most important policies like to see coming out of this administration to help your business get to the next level? >> the way we think about policies we leave that to the experts. at a high level the thing that is important is actually pervasive right now and innovation. innovation is good for a group of economies and good for our domestic economy because it adds transformation change and opportunity. from our perspective at cadre we are innovating in real estate. we want more people to have access.
the only way that was available in successful was because we innovated. we said this existing real estate investing model does not work and we want to change it for the better. the most important theme that needs to be pervasive and continue to be so is innovation. maria: one of the things as you want to rollback red tape. that's one of the things the president has talked about so far making it easier to eliminate the red tape. do you see that happening and is it easier for you to take the company forward? some people say that's not -- that's why they are not going public. there's too much brockers the. >> there's a lot of friction in d.c. and real estate. if you really take a step back and think about the big industries of our time they are deeply entrenched. real estate is an industry that's been built on efficient bureaucracies, health care. a lot of the infrastructure
government so i think it's more a function of needing to take alone approach the marathon to build these companies and platforms and industries that are very very hesitant purposes in the best companies are able to continue to raise capital. in our case we were overprescribed at 130 million today because investors understand. we are transforming something that doesn't happen overnight and i think that's probably why more companies are staying private in the ones by the way that don't have the business model they are not staying private or they don't exist. maria: do you agree with that in terms of the regulatory environment and any changes you want to see? >> generally our industry is about innovation and regulation. what we have discussed is exactly the case which is we want things that will help us move forward and move faster not things that will slow us down. that's the general approach. from a next-door standpoint where about the local communities have a look at less at what is happening nationally
and what is looking -- looking at what's happening locally. they are laws regulations would happen on the local level not just the ones where focused on but in general our industry is about trying to create ways for companies to do things faster, to do things better instead of slowing down a little bit and held back. and. maria: shareholders focus on the business model dan. >> is regulation decreases the next question is can these become businesses so a pretty substantial amount for my the greatest media companies and they don't do that often so they obviously saw something in brit. brit would he do with net capital and what is the business model with branding company? >> a lot of people don't know is when i was starting at i did so because i was at google beforehand launching a product which is now turned into chrome cast. 2009 it was standing on the doorstep of every major television network asking to put
their video content on. >> you were 24 warn you are doing it. >> i was 24. i graduated college early. it was shocking to me as a 24 go a 24 girl that i could watch television on the internet. that's what i want to do and i was watching youtube on the internet obviously. it gave me a chance to go at that market opportunity and 10 years later what you are seeing is those networks are putting it in the interweb -- internet. now they are breaking away from things like netflix and making streaming bundles, making espn's own platform. what i'm excited about what disney is the opportunity to think about entering about what is the next platform for young women? is an audience i know very well. maria: we have to take a break will make him back i want to get
your take on where the growth stories are technology right now. these are consumer related companies that i wonder what the runway is. we'll talk about that brit dan and nura after the break my "business" was going nowhere... so i built this kickin' new website with godaddy. building a website in under an hour is easy! 68% of people... ...who have built their website using gocentral, did it in... ...under an hour, and you can too. type in your business or idea. pick your favourite design. personalize it with beautiful images. and...you're done! and now business is booming. harriet, it's a double stitch not a cross stitch! build a better website - in under an hour. free to try. no credit card required. gocentral from godaddy.
which saves money. insurance a smarter way. they offer paperless billing and automatic payments. which saves paper. which saves money. they offer home and auto coverage, so you can bundle your policies. which saves hassle. which saves money. and they offer a single deductible. which means you only pay once when something like this happens. which saves money. esurance was born online and built to save. and when they save, you save. that's home and auto insurance for the modern world. esurance. an allstate company.
it's time for the biggest sale of the year with the new sleep number 360 smart bed. it senses your every move and automatically adjusts on both sides to keep you effortlessly comfortable. and snoring.... does your bed do that? the new 360 smart bed is part of our biggest sale of the year where all beds are on sale. and right now save 50% on the labor day limited edition bed, plus free home delivery. ends saturday! maria: welcome back treated. we are back with a roundtable today brit moran ryde williams dan rosensweig and narrative. your thoughts and discrimination.
let me start with you. >> do i believe in gender discrimination? yes. maria: do you believe it's happening? >> it's happening. i believe in 100% of the cases it's happening that i believe there's a lot of unconscious -- however it's the premise of the fact that there are 7% female venture capitalists and civil con valley and we have an idea that resonates with women in resolving a problem that women have it's difficult to get that across to his 60 or 60 or a white man. maria: that's a good point. you find talent you need in today's environment? he talk about h-1b visas all the time and the efforts that president trump has been making in terms of trade and immigration changes. can you find the people that you need to work or do you feel like like --.
>> never enough people, great people for us to hire that's either because of things like h-1b problems are primarily because there were so many great companies that are looking to hire the same kinds of people and. >> barrel for 4000 companies so the thought that we can hire everybody out there is impossible. >> discrimination -- gender discrimination plays a role as well. the 70% female work force it's difficult for us to hire engineers because 95% of them are male and get them the opportunity and what we are doing and show them the data like big business is one thing and to me it's a great thing but it's more of an uphill battle for me as well. >> do you think that's because there's a lack of understanding, sympathy/empathy? >> internet the skill sets to
understand the problems they are solving for consumers. it's just not one of them. it's fine but they are 50/50 there would be a much easier way to do that. >> i think in the u.s. we are 46/54 male/female for the whole company. we over index gender diversity and marketing h.r. finance legal and engineering remains a difficult thing but there are other areas of diversity. it's not just gender. the african-americans and hispanics because the u.s. population we like to represent the u.s. population which is younger students coming up in trying to get through college. but as it relates to regulation and visas and those things the fact of the matter is the more talented people we can bring into this country that want to build this economy as opposed to competing with this company the better off we are. >> in terms of diversity it gets brought up in triggers a lot of
people. it happens at our company as well. we embrace it because we believe that diversity contributes to independence of thought and independence of luck contributes to creativity and creativity contributes to innovation. cadre steps out of the traditional line of thinking was and says this is not how real estate investment should work and our team did the same thing that i think it's an existential need to have diversity so we all continue to innovate. there's a ton of talent here in the u.s. that i believe we still can bring into the. >> brit makes a point. half of the population are women and 55% of college graduates are women and 30% of our population are hispanic. you can believe what you want to believe that if you can't innovate and relate and communicate to these folks you aren't going to have a successful business. maria: do you all expect to be
private in the next couple of years or are you looking for a public offering sooner rather than later? >> we are planning to stay private. we have probably raised 45 million total because we don't want to raise that much more. mary ann -- maria: this is a decision you made. >> up one day we want to go public that's great otherwise we can stay small meaning like having raise a lot of money. who knows what's going to happen? i want to be in control of destiny and second thing is 1999 it took four years for a company to go public. now the average time is 11 years we are a 5-year-old rand. >> the average public company of a ceo is 24 months. >> i think in our world when we think about the businesses we are still in the early stages literally and figuratively. maybe an analogy to contextualize where we are in our journey we wanted to take an
off-line experience of real estate investing and make an on line. we still have multiple industries and multiple products to build. maria: a great conversation great to have you all here. thank you very much. thank you very much. don't go anywhere more wall today, we're out here thank you very much. don't go anywhere more wall with some big news about type 2 diabetes. you have type 2 diabetes, right? yes. so let me ask you this... how does diabetes affect your heart? it doesn't, does it? actually, it does.
type 2 diabetes can make you twice as likely to die from a cardiovascular event, like a heart attack or stroke. and with heart disease, your risk is even higher. you didn't know that. no. yeah. but, wait, there's good news for adults who have type 2 diabetes and heart disease. jardiance is the only type 2 diabetes pill with a lifesaving cardiovascular benefit. jardiance is proven to both significantly reduce the chance of dying from a cardiovascular event in adults who have type 2 diabetes and heart disease and lower your a1c. jardiance can cause serious side effects including dehydration. this may cause you to feel dizzy, faint, or lightheaded, or weak upon standing. ketoacidosis is a serious side effect that may be fatal. symptoms include nausea, vomiting, stomach pain, tiredness, and trouble breathing. stop taking jardiance and call your doctor right away if you have symptoms of ketoacidosis or an allergic reaction. symptoms of an allergic reaction include rash, swelling, and difficulty breathing or swallowing. do not take jardiance if you are on dialysis or have severe kidney problems. other side effects are sudden kidney problems, genital yeast infections, increased bad cholesterol, and urinary tract infections, which may be serious.
taking jardiance with a sulfonylurea or insulin may cause low blood sugar. tell your doctor about all the medicines you take and if you have any medical conditions. so now that you know all that, what do you think? that it's time to think about jardiance. ask your doctor about jardiance. and get to the heart of what matters. hey ron! they're finally taking down that schwab billboard. oh, not so fast, carl. ♪ oh no. schwab, again? index investing for that low? that's three times less than fidelity... ...and four times less than vanguard. what's next, no minimums? ...no minimums. schwab has lowered the cost of investing again. introducing the lowest cost index funds in the industry with no minimums. i bet they're calling about the schwab news. schwab. a modern approach to wealth management. pcountries thatk mewe traveled,t what is your nationality and i would always answer hispanic. so when i got my ancestry dna results it was a shocker. i'm everything.
i'm from all nations. i would look at forms now and wonder what do i mark? because i'm everything. and i marked other. discover the story only your dna can tell. order your kit now at ancestrydna.com. maria. now we look at the date of market events coming up. schiller home prices are consumer prices a market mover. pending auto sales and jobs report always a market mover the major indicators to keep an eye on on. we will see how the jobs numbers take off and impact the market. earnings season the slowing down now but there are few names. abercrombie and fitch best buy and campbell's soup reporting quarterly numbers. tune in next friday at 8:00 p.m. eastern for another edition of "wall street week" with we will see you then and i will see you
on the "fox news" channel are for sunday morning teachers. catch the show at 10:00 a.m. on "fox news." that will do it for us now on "wall street week". thanks for being with us. >> i'm bob massi. for 35 years, i've been practicing law and living in las vegas, ground zero for the american real-estate crisis. but it wasn't just vegas that was hit hard. lives were destroyed from coast to coast as the economy tanked. now it's a different story. the american dream is back. and nowhere is that more clear than the grand canyon state of arizona. so we headed from the strip to the desert to show you how to explore the new landscape and live the american dream. i'm gonna help real people who are facing some major problems, explain the bold plans that are changing how americans live, and take you behind the gates of properties you have to see to believe. at the end of the show,