The following is a presentation of TFNN. The morning market kickoff with your host Tommy O'Brien. Good morning everybody. I'm Tommy O'Brien, coming to you live from TFNN. We kick things off for Tuesday trading. We got a hot retail sales number and the markets taking it and running with it to negative prices. What hits me most? Well, you talk about two-way markets, right? I mean, check out this market right now.  That's a move of 70 S&P points. You go to Friday's action. You go from 44.07 down to 43.40. That's a move of almost 70 S&P points from the lower Friday back up to a high of 44.10 yesterday. That is 70 S&P points and right now we are a solid 40 points off of those highs. That's going back to last Thursday. That's not even counting Wednesday. When you move from a price point of 43.76, nonetheless, you get the point today, we're trading lower. You have yields on the rise with a hot retail sales number. Taking a look at the markets, S&Ps right now, off by about two-thirds percent, trading at 43.72 and you see that number at 8.30 dropping off. We'll get into it. What do we have? We have yields rising. You have a dollar strength. You have market weakness. All of those acting together, the NASDAQ 100, you're off by 9.10 percent right now. Those of last Friday, 15,062, within about 100 points of that low right now, doesn't, I don't know if I see that one stopping anytime soon. Banks a little bit of a different story, which is part of the dynamic of the Dow versus the NASDAQ 100. You get the Dow right now off about four-tenths percent. You jump over Goldman Sachs out with their numbers this morning, basically flat to slightly lower. You jump over Bank of America, Bank of America, excuse me, with their numbers this morning trading a little bit higher. We'll get into those in a moment as well. You jump to Crude, $86.58, pretty much flat. We're up to 88.33 yesterday. Gold, up by $2 to 19.36 right now. You jump over to the dollar. There's the strength on that hot number, man, 8.30. You're trading at 106.20, boom, just like that. We're at about 106.44 right now, the dollar, up 200 basis points. You jump to notes and bonds. We'll start with the 10-year now. This is like the main event of everything going on, notes and bonds. We've been talking about this channel on, boy, it seemed tough to do when we were getting some accelerations into this channel line. You're talking about six days ago. Let's put this thing back on a 20-day chart, on a 60-minute chart. That was the low on October 3rd, 106.03. We're within a stone's throw, that low right now, and absolutely remarkable when you look at that this number is coming off where we were basically on Thursday. What was that? That was the CPI number. That was the CPI number. You're backing up on the market, yeah, Thursday market's trading at 44 Thursday, 30. You sell off through the day. Yeah, that was Thursday. Let's put it on a 30-minute even, because I believe it was coming right into that number. Yes, it was. It was coming right into that number, and even we're going to go back on a 10-minute basis, we're zooming in to last Thursday, because what was interesting was, that was the CPI print. We actually got a spike higher prior to that print, and then what happened is, you had the market trading lower off of that print in terms of higher yield. Now we back things up on the hourly. Look at the reversal on that trend line, man. That's the trend line we're looking at on a daily, and we know that lower price equals higher yield. We take a look at the longer-term trends, since rates have really been accelerating higher since May 4th. How about we had a 117 price point on May 4th? We're now flirting with that 106 low yet again. A very well-defined channel line for lower prices in the 10-year. All we did is we just bounced off the upper boundary line of that channel line. You make a run to the bottom of that channel line, and you're talking about basically 105, 108, depending on how quick you make it to the bottom line of that channel. But boy, retail sales, man. Coming in hot, we'll get to that right now. Let's jump to the VIX first. VIX, up by about $1 from, excuse me, from, yeah, a close of about $17.19. You're up about $0.98 right now, trading at $18.19. Well off the lows of last Thursday, $15.44. We spiked to above $20 on the Friday action. We're pushing a little bit higher this morning at $18.19. All right, retail sales. How about it? The number that comes in, 0.7%. You also got a revision of higher prices, excuse me, higher retail numbers in August. Excluding gas, September sales rose 0.7%. I mean, the headline number, folks, 0.7%, excuse me, they were looking for like 0.3%. OK, so big numbers all around. Retail sales, month over month, 0.7 versus 0.3. You take out gas, 0.6 versus 0.1. Now, these are not inflation adjusted, OK? But inflation numbers just came in at like 0.4%. So we are exceeding inflation, which means that that is pressuring the economy to grow for prices potentially to go up, et cetera. Not exactly what the Fed is looking for. In the third quarter, control group sales rose an annualized 6.4%. Purchases rose in eight of the 13 categories, including stronger receipts at restaurants, motor vehicle dealers, and personal care stores. And yeah, it showcases a consumer that's still powering ahead despite the recent energy-driven pickup in inflation. And you could say, and the persistence of core inflation, because that is real, then. So that's the number that hits this morning. And there's the headline you're going to see everywhere, that's on CNBC. Retail sales rose 0.7% in September, much stronger than the estimate. And boy, what are we now? Almost two weeks out from a Fed meeting? Yeah, two weeks out tomorrow, Fed meeting November 1st. Not sure they're going to hike on that one, but boy, you keep going at this rate. On a year-over-year basis, sales rose 3.8% compared to the 3.7% CPI, but month over month, much hotter, because you had a 0.4% number in September. And retail sales come in at 0.7%. Again, not inflation adjusted. So you could make the case that 0.4% of that is just higher prices. But the other 0.3% is straight-out growth, which is not supposed to be happening right now. If there's lag on this economy and causing it to restrict, which is really what the Fed is trying to do, right? We jump over to gold. It's going to be an interesting Tuesday in the markets, man. Gold, pushing the recent highs. We did get that spike up on Friday to 1946, right on the close of action. Sunday night, you open almost at that price level, and we're pushing those highs yet again. 1936.80. I talked about it. If you haven't tried out the gold report, folks, great time to do it, as gold is rocking and rolling yet again to put it lightly, right? And yields are up across the board right now, man. That's the tenure that you're looking at, OK? We jump to the 30-year, down a full point in 12 ticks, 109.31 right now. You jump over to the yield curve, OK? We are agreeing across the board in pretty dramatic fashion.  The two-year is up seven basis points to 5.17%. We're going to have to get a whole program where we talk about yield. What's the program on Bloomberg? Real yield, which is a good one, man. With Jonathan Farrell, if you ever check it out, what are we now? We are within, like, one tick almost of the high yield on the two-year. And that is especially interesting, because that means that the Fed might be hiking, man. If you're pushing highs on a two-year basis, that is Fed territory, either they're hiking or they're not cutting. Either way, folks, yields in focus, markets in negative territory. We got earnings as well. We'll take a look at Goldman Sachs, Bank of America. If you're looking for potential trading setups in the stock market, then Rocket Equities and Options Report is a newsletter you should try. Tommy O'Brien delivers options and equity trades when the markets present them, using a combination of fundamentals and technicals. Sign up for Rocket Equities and Options Report today with a 30-day money-back guarantee so you have nothing to risk. For all the details and to start your subscription today, visit the front page of TFNN.com, TFNN Educating Investors. Everything in the universe is governed by the Fibonacci sequence. This mathematical principle is responsible for everything, from the most aesthetically pleasing artwork to patterns in the stock market. To stay on top of stock patterns you can take advantage of, sign up for the Fibonacci 24-7 newsletter at TFNN.com. 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There's no catch or added costs when you join our community of traders. Sign up today and become a part of this educational community of traders. Let's visit the front page of TFNN.com. Back folks, we've got the S&P futures negative by about 27 points. That's about 6-10% in the red to talk about some of the action this morning. Let's jump over to our man, Kevin Hinks, every trading day folks. 12 noon Eastern time from the Schwab Network fast market with your host, Kevin Hinks, Tom White. They have an outstanding lineup of guests. They walk you through hypothetical trade setups, folks. They're usually talking about three equities, all of them using options, all of them using defined risk. And we're coming into a great time of earning season and on top of that, quite a retail sales number. Kevin Hinks, we got some retail sales, man. You got markets moving this morning. Good morning. Good morning, Tommy O'Brien. You have to not get between the US consumer and their discretionary income, Tommy, because these retail sales numbers that were put out, not only were they strong, but the revisions to last month were really strong. So you add those together, and that explains what the bond market and note market is doing right now, Tommy. You've got a 10-year, now over 4.8%. This was a powerful number, Tommy. It's really quite impressive. What did you think about, and it's a great yield. You got to go right to yields, I think, recently, Joyce. The volatility amazing. The numbers we're dealing with pretty amazing. Even on a two-year basis this morning, Kevin, I think I got the two-year up seven basis points. What are we pushing right now? We're pushing, yeah, about 5.17, inching towards that 5.2% number. We're almost two weeks out from a Fed meeting, Kevin. What do you think of the action on the two-year as trying to just figure this out myself, of course, the mental gymnastics, but, boy, you start talking about the two-year moving to those higher levels. I mean, is that really inching us towards? Maybe the Fed has to go a little bit higher than the market may be thinking if these numbers persist? Well, I think that November is still off the table. We see some dramatic spike in the probabilities. I don't think they're, but this may bring December back on the table if, Tommy, and this is a big if, if these numbers persist. Remember, this is a one-off event. If there's some reason why this number hit, which you always have to discount for, then everything is the same, right? And this is just one strong number. But if it persists, if you start seeing strong, reigniting inflationary numbers, and, you know, if you think about retail sales, Tommy, it's not hard to connect the dots back to higher rates and all the limitations going up. So all that, higher wages leads to more discretionary income. More discretionary income leads to higher retail sales. So you're, you're, this is the stickiness that inflation can become if not dealt well. Now, Trump thinks he's got rates at a restrictive level, and the inflation numbers are coming down at a moderate pace, but they're always afraid of reigniting. And some of the Fed speakers that are out today, we've got four Fed speakers. They're going to have to comment on this retail sales number, right? Patrick Harker yesterday basically said, we're done raising rates, and it's hurting the U.S. consumer and it's hurting small businesses. Well, doesn't seem to be hurting the U.S. consumer too much. So they need this to be a one-off event and go back to moderate levels. So we'll see if that happens, Tommy. And Margaret doesn't like it though, that's for sure. Mark, get a little bit spooked, man. One of the only things on my screen that's green is that VIX up this morning as we get a little bit of a pullback yields, of course, going higher as well. With that in mind, Kevin, we're coming into earnings season with some pretty decent earnings so far from the banks. But we march forward. We start getting some big names coming up, earnings season, going to drive a lot of the action, I'm sure, in terms of the numbers for the market. Do you guys have any equities you're talking about on fast market coming up today, Kevin? Mike Folio's going to do a presentation on United Airlines. They come out with earnings after the bell. The first launch of earnings is financials, it's airlines. So we'll do United Airlines, we'll do Morgan Stanley has earnings coming tomorrow morning. I believe we'll do JP Hunt, which also has earnings coming out after the bell today. They're affected by oil, crude oil prices and all those things. So transportation, United Airlines, and Morgan Stanley today on fast market, Tommy. Well, Kevin, I appreciate the time as always, man. We live in interesting times, as they like to say, and yeah, 0.7% on a retail sales number and still above where we are for inflation. So not adjusted for inflation, but as you said, man, pretty interesting November, only about two weeks away. So not sure that one's going to be live, but I agree with the take. I appreciate the analysis as always, Kevin. And we'll be watching the show at 12 o'clock today, man, and we'll talk to you tomorrow. Thanks for having me on, Tommy. See you tomorrow. See you tomorrow. Tune in every trading day, fast market from the Schwab network. I've learned so much from Kevin and myself over the years. They walk you through hypothetical trade setups. You heard what they're talking about, and we are coming into the heat of earning season and, yeah, the airlines. How about United Bank, right? How about that pullback from almost $60 trading at $39.53 so far this morning? But yields are going to be in focus, and Kevin laid it out well. I mean, we're only, what, 15 days out from the next Fed meeting. It would take a lot to swing that probability, but, boy, time comes at you quick, man. Before you know it, you're going to be in the middle of December, and what's going to happen to retail sales coming into a holiday season? Especially interesting. Is that going to carry forward to the holiday sales period? Student loan payments, those are kicking back in. It doesn't seem to be hampering things just yet, right? We will find out. But holiday season coming in, absolutely amazing that we're two weeks out from Halloween today. Is that right? Right? Tomorrow, two weeks out from November 1st, a Fed meeting, and before you know it, man, you're in shopping for Halloween, right? You're in, basically, holiday season. I mean, they almost have the decorations up right now, and that's October 17th for holiday shopping. Halloween's out. If you didn't get your Halloween stuff, it's probably too late, not exactly, but pretty close, man. I mean, for a target, for example, absolutely loaded up with Halloween decorations. They are basically all gone. It's going to be holiday season before you know it, and that's going to determine a lot for these numbers, and we'll see. And as Kevin said, do not get in the way of the Americans, the consumer and their discretionary income and purchases, man. We are a consumer nation, and that marches on, right? But yeah, the two-year, man, how about it? Look at this. Okay. So the two-year, okay? We are like a tick away. Now, the two-year does not trade as much in terms of on a daily basis, the move you get. The duration, so the moves matter more, so you don't get as large of a swing when you get the moves. The 30-year, for instance, right now, is what? Down a full point and 15 ticks, okay? The 10-year is down 25, the 5-year is down 15, and the 2-year is down 5. Point being, the low on the 2-year, and you're going back 7 weeks ago, 101.027, okay? We're at 101.031. You're basically a tick away from the high. I'm not sure we hit 5.2. Maybe somebody can help me out in the den. Did we hit 5.2 on the 2-year, or did we just get right up to that level? Because I think we got just up to that level, and then you got a little bit of a reset on the 2-year, and you pulled back a bit, but boy, we're going to be there today, I think. Let's see where we're at right now. The 2-year, 5.173 is where you're at on the 2-year right now. The 10-year at 4.83. I mean, maybe that's where we got to get to. We got to get to 5% on the 10-year. We got to get to 5.2% on the 2-year, and it's going to be interesting to see if a hike for December comes back in focus. Now, we've been talking about the crude market. Gas price is actually going down in the US right now, okay? So that has not been a strain on the economy. But on CPI numbers, which the Fed is not as worried about on a top line because energy, they can't control this much. But boy, you start coming into November, okay? And we are going to be dealing with comps in energy where crude was under $80 for seven, eight, nine months. That is going to be a wait on CPI. Stay tuned, folks. We're coming back for the market open. Commodities and bond markets are as important as ever right now with how they're driving the volatility in equity markets across the globe, which is why it's a great time to try out Teddy Kegstad's Tiger Forex report. Teddy Kegstad breaks down the forex markets every Monday using his 30-plus years of experience as a trading veteran of futures, forex, stocks, and options. 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We have the markets in negative territory, S&Ps off above 30 points right now, shooting at 43.71. You're looking at the NASDAQ 100, often even 1% 15,127, the Dow right now. You could say the strongest index, only down by 3.10% the Russell, only down by 3.10% as well. You jump over to some of the banks that have reported Goldman Sachs out with their numbers this morning. They're down about 7.10% off $2.38. You jump over to Bank of America. They're flat on their numbers. They were higher, up to 27.40. You're back to about $27. You check out some of the other banks reporting last week. JP Morgan, positive today, up by 2.10%. You jump over to Wells Fargo, up by 2.10%. You jump to Citi, negative by about 4.10%. You jump to United, Kevin mentioned. They're out with their numbers after the bell today, I believe United, up by about 2.10% right now, 39.60%. Excuse me, and jump into, again, the company's today, Goldman, off about 9.10%. And Bank of America, slightly in the positive. Jump back to Bank of America. Profits, tops, estimates on trading and net interest income. Shouldn't be surprising, net interest income, right? But the equity traders had revenue up 10%. Excuse me, you get into the numbers. The fixed income and equity traders trumped expectations with stock trading revenue up 10% to $1.7 billion, not a bad 90 days of trading. Dramatic market swings. The windfall from trading helped Bank of America's net income surge 10% to $7.8 billion or 90 cents a share. The market was looking for 81 cents a share. Net interest income rose 4.5% to 14.4 billion. Analysts were looking for a 2.5% increase. It's the best third quarter ever for equities driving the trading gain. And you look where they are 2023, fixed income in the black, equities in the blue. I mean, they crushed it, man, right? They crushed it in dramatic categories. $4.4 billion is the number that they took in. And that is for equities and fixed income. Equities, 2.72 billion fixed income, 1.7 billion. Some big numbers there, man. Non-interest expenses rose 3.5% from a year earlier, 15.8 billion costs like any company right now. A focal point, the market was looking for a 3.3% increase. So they're spending more than the market thought to make more than the market thought is the story there. Fears, fees for advising on mergers and acquisitions rose 3.7%. Yeah, and this is the one I appreciate you sharing that eloto, I need to not say eloto, eloto. One of the things we've all learned about is hold to maturity securities, right? Bond losses on the bank's held to maturity portfolio widened to 131 billion in the third quarter compared to 116 for the same period a year ago. Such losses are not recognized in earnings because the bank plans to hold the bonds until they are paid off. 131 billion dollars of losses on their balance sheet that they do not have to account for. And yeah, he shared that in a tweet. Let's pull it up, man. Where is it? There it is. And there's the number right there, right? So this is going back in June of 2003. Excuse me, yeah, June. It was 105 billion, it looks like. In September, it's 131 a year ago. It was probably 116, as they said. Held to maturity securities, negative 131.6 billion dollars. The only thing there is the US government ain't letting Bank of America fail, man. That's for sure. Held to maturity securities are probably getting held to maturity. But nonetheless, this is what happens when yields go higher, okay? That is a main concern for the Fed. It's the reason why banks like Silicon Valley don't exist anymore. Nonetheless, Bank of America up by about 8% today. And I'm not fundamentally aware enough in terms of the financials, in terms of the accounting ability to know how big they are and how big 131 billion dollars is compared to what they're dealing with in terms of equity on their balance sheet. But that's why you have regulations, okay? And that's why the big banks getting stress tested is a different deal than banks like Silicon Valley who were not stress tested in any way. And guess what? The stress comes and there you go. But that is a concern for the Fed in terms of all of the banks facing some heat as yields go higher, any held to maturity securities they have on their balance sheet immediately add losses on that number. And guess what? You get those losses large enough and your bank might not have any equity, man. Yeah, that's an interesting one. Let's jump around to some of the fang stocks, see how we're trading. You get Apple ripping lower on higher yield off by 1.5% for Apple shares. Microsoft off a full percent. You get NASDAQ 100 accelerating a bit. We're off 175 right now. You jump over to Amazon shares off by 2.1% so far to kick things off. NVIDIA, there's a drop for you. $27 to the downside for NVIDIA shares. Look at that, man. Tesla's off by about $5. Let's jump to NVIDIA and take a look here, man. What's going on in NVIDIA? Yeah, so the news was out yesterday. I mean, we were talking about it on the program early yesterday, right? Came on the program talking about that there were additional curbs put in place for China, for AI chips in particular. Market said, no worries there. We traded higher from 450 to 460. I mean, some of the stories here. NVIDIA doesn't expect a meaningful near-term impact from the US. That's from Bloomberg. Maybe that's regurgitating a little bit of yesterdays, but no real action, man. And maybe this is just finally it mattering. With yields rising, with facing some heat in terms of their chips being shipped over to China. Nonetheless, you're off $27 right now on NVIDIA shares. You can't even see it on this chart. If you ever get a rollover, man, there is nothing in the way of this thing for like $100, right? I mean, you're talking about testing the high of 2021, brings you $100 below where you're at right now. And let's just look at some Fibonacci numbers if you're looking for a potential area. And look at that. Where's the 3A2? Pretty close to 340, man. You got a rollover in this market, man. This is the type of action that can drive it. Now, you want to see something wild, right? So there are $1.7, $1.07, excuse me, trillion-dollar company. What do they got? 2.5 billion shares outstanding, okay? You're down 25 bucks. That's pretty simple math. They just lost $62 billion in market cap. I mean, just bonkers, man. NASDAQ 100, off by more than a percent. Let's check out the dollar index as we jump around and come into this next break. Yeah, it pulls back a bit from that retail sales spike. We got the dollar index still up about 14 pennies right now. We check in on gold. Gold's sitting at about 1936 right now. We check back to the 10-year right now, 106.14. Keeping our eye on that two-year. Oh, we did. We just broke that low, didn't we? We sure did. We broke it. It was 101.027. We just hit 101.026. So pretty close to yields. Nonetheless, you just got below it. The two-year, making new highs in yields. And that is gonna, the Fed Chairman Powell, he's watching yields this morning, man. He's got 15 days till the next meeting. Stay tuned, folks. We'll finish up the conversation on yields. We'll be right back. You might think that if you want to be successful at trading in the stock market, you're going to need a crystal ball. After all, it's impossible to predict the future, right? Like any endeavor in life, before you decide it's impossible, get some advice from the experts. You might find that it's not so impossible after all. For daily market overviews that give you direction on the key indices, selective stocks, and commodities, subscribe to the Opening Call Newsletter at tfnn.com. The Opening Call Newsletter is written by Basil Chapman, creator of the trading methodology known as the Chapman Wave. 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In the Tiger's Den, you can look over the shoulders of Tom O'Brien and the other tfnn hosts while they analyze charts during their live Tiger TV programs and join an interactive trading community with hundreds of members exchanging ideas, interact with other Tigers and Tigresses as they share trading ideas, news analysis, and discuss the market action all trading day, even at night and on the weekends. The Tiger's Den at Discord is accessible on mobile or tablets as well. So it's always at your reach. To sign up today and become a part of this educational community of traders, just visit the front page of tfnn.com. This program is brought to you by Vista Gold, traded on the NYSC American and TSX under the symbol VGZ. Welcome back, folks. We get the market's bouncing a bit off the lows right now this session, but you're only talking about a few points here, folks. We get the S&P's off by 26, trading at 43.75. We were just below 43.70 on the open there. And you got the Nasdaq 100 still right near the, basically session lows, 15,111. You're off by 177 points. You're off by 1.2%. And yeah, you just got to jump to the big dogs, man. Apple off 1.6%. We talked about NVIDIA. So NVIDIA is off 25 bucks. Remember, two and a half billion shares for NVIDIA. Every 10 bucks is 25 billion. 20 bucks is 50 billion. Add the five. You're at $62.5 billion market cap loss for NVIDIA. But guess what? What's Apple got? Did I do this right? Yeah, look at that. They're even off. So Apple's got 16 billion shares outstanding. Okay, NVIDIA's got 2.5 billion shares outstanding. Apple's got 15.6 billion. Apple off about 48 billion. I mean, remarkable when you look at NVIDIA, man. I guess NVIDIA's down, what, 25 bucks? Apple's down three bucks. But Apple losing about 50 billion in market cap. NVIDIA losing 62. Between the two of them, you just lost $112 billion that went poof. I think they're fantasy numbers at some point, but they matter. Microsoft, they're off $3. What do they have? 7.5 billion. So add what? 22.5 billion market cap gone from Microsoft. We don't have to do the numbers, but man, this NASDAQ 100 is accelerating. You're now off by 1.2% right now. 15,111, you're coming right into the lows of Friday and early Monday. That price level about 15,100. That's also correlating to somewhat where we were on Friday morning in terms of that high. Maybe that's an area of support. We'll see where that goes. You jump back to yields as we jump around very much in focus, because it's not stopping right now, man. The 10-year off 28 ticks right now. We jump back to the yield curve. The 10-year is at 4.85%. We're up a quarter point in no time. We're up 14 basis points today on the 10-year. The 30 years up 11, and the two-year right now is above 5.18. Mammoth move on the two-year, man. Above eight basis points, we're pushing above 5.18. I think that might be recent cycle highs for the two-year. If not, it's pretty close, man, for price-wise. Now I know things roll over on contracts, so you get a little bit of different action, but nonetheless, we are making lows in price on the two-year futures this morning. We're sitting at 101.026, if that's how you say it, pretty remarkable. All right, let's jump around. What else do we got up here we're gonna talk about? Yeah, this one's interesting, just talking about what's happened in the world, man. Being in Florida, very fortunate this year for storm season. Fingers crossed, it's October 17th. We're almost out of the woods, don't wanna jinx it, but we still got some warm temperatures. And you got a few things churning out there in the Atlantic right now. Yeah, I saw a chart on one of the other articles I was looking at. We got 19 storms so far, including an unnamed storm in January. We're still getting some, but nonetheless, usually when they're forming in the Atlantic at this point, they won't be that bad, but the Caribbean is where things can still accelerate some degree because they got some warm weather out there. But nonetheless, climate change, shaping the way things go on a consistent basis. All right, what else do we got pulled up here? We talked about Goldman, we talked about Bank of America, but we haven't talked about any DJing activity. And yeah, the CEO of Goldman, he's hanging them up. Looks like the pressure might be on, man. He gave up his DJ gig of all things. David Solomon has decided to no longer DJ at high profile events and early retirement for a highly visible off hours persona that drew unwanted scrutiny. For the position he holds, just the appearance of impropriety or the appearance of getting gigs for certain things, right? That was the thing that I had read articles in the past that had caused so much concern among people in terms of, he played at Lollapalooza, okay? He didn't play at Lollapalooza for his DJ skills. He played for Lollapalooza for his DJ skills and the fact that he was the CEO of Goldman Sachs, okay? He's got to be a pretty good DJ, man. If he's really rocking these types of bookings. Yeah, Lollapalooza in July last year. He even got a gig on Billions. Used to watch Billions. Haven't watched it in a while. Pretty good program. I heard it's kind of declined at some point in its past, but he hasn't done it over a year. And yeah, seems like that is a distraction and he's not doing that anymore. He's facing a little bit of heat though. So I imagine that's a concession he's making. You take a look at Goldman Sachs. You pull up the five year weekly and what? You're at 314, you're at the price point you were at in the beginning of 2021. You back things up COVID. You were at about 250, you're at 315 right now. That's not bad compared to company like JPMorgan. They're the gold weather, man. And they're what? 10 bucks above where you came into COVID. They hit a high of 172. You jump over to Morgan Stanley. They're at 78 from 50 or 60 bucks out there. They have slightly different business models, but nonetheless, he's under some heat. All right, this one's an interesting one in housing. I wanted to talk about real estate brokers pocketing up to 6% and fees draws anti-trust scrutiny. Seems like the real estate market is ripe for a shakeup, man. There's so much that goes into buying and selling a house. When you think about a broker fee of 3% on each side, you think about a 6% commission and you think about what's the median price right now for a home sale? What, 350,000? If somebody knows it in the den, help me out. It's probably pushing 350 at this point. And you're talking about 350,000. That's a $21,000 commission built into every house sale. And a lot of times folks, people are doing a lot of work right now by themselves. There's a lot of availability to list houses, right? To find houses online, et cetera. Zillow in particular comes to mind. But nonetheless, the lucrative broker commission system at the heart of the US residential housing market is facing unprecedented anti-trust scrutiny from the Justice Department and two private class action lawsuits that risk weakening. National Association of Realtors, the industry's powerful lobbying group. They're focused on the commission sharing system that typically puts home sellers on the hook for five to 6% cut of the sale, split between their agent and the buyer's agent. It's a structure largely unique to the US, preserved by the association's control of many of the country's multiple listing services, okay? An essential tool that aggregates properties available for sale in a given region. To use the system, National Association of Realtors requires sellers to offer compensation to the buyer's representative, which critics say inflates home prices. Who says it doesn't inflate home prices? The people collecting those fees probably. This practice will also be on trial in two anti-trust class actions, including one beginning just yesterday in Missouri could result in as much as $4 billion in damages, okay? And they're seeking as much as $40 billion, but I wonder how it may move things forward. The commission sharing structure equates to collusion is the argument there. And the day of accountability is coming and to a certain degree, it's probably pretty close, man. Yeah, it's probably pretty close. It's an industry ripe for shakeup, man. You used to need real estate agents on the buy side to find things, on the buy side, man. You can see what's available right now, right? On the sell side, my dad included marketing a house. You want to sell a house, give my dad a call, man, because he markets that thing, okay? Sellers and buyers have their value too, but it seems like nowadays you can do your own buying out there. Sellin' for your marketing, maybe that makes sense. Interesting nonetheless. The Gold Report. As a precious metal, gold is still king. It continues to hold the most effective safe haven and hedging properties across the global major trading hubs of the London OTC market, the US futures market, and the Shanghai Gold Exchange. The Gold Report. Tom O'Brien publishes his weekly Gold Report every Monday morning for subscribers, consisting of coverage of the XAU, HUI, GDX, the dollar, bonds, the South African RAND, as well as 25 different mining equities with specific buy-sell recommendations. The Gold Report. New subscribers get a 30-day money-back guarantee so you have nothing to risk. Subscribe to Tom O'Brien's Gold Report newsletter now at TFNN.com. You're going to need a crystal ball. 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Go to TFNN.com and hit Watch Tiger TV. That's TFNN.com and hit Watch Tiger TV. Back folks, we're in the markets making session lows right now. S&Ps off by 33. Little worried about a hot retail sales number, man with yield spiking. NASDAQ 100 off 1.52% right now. You get the Dow saving itself a bit. Off by only 2.10%. We jump around to some of those banks reporting. Bank of America, barely in the red by about 1.10% right now. Goldman Sachs off by 1% right now. Some of the other banks, JP Morgan up by 2.10% right now. Wells Fargo up by 6.10% right now. You jump to some of those fang stocks.  NVIDIA, how about it, man? Off $32. What do you say? 2.5 billion shares outstanding. So what are they down now? $80 billion in market cap, man. This is just bonkers. 7% of the company is gone. They're probably flirting with losing their trillion-dollar status. What are they at? $1.06 trillion is where they are right now. Quite a day for NVIDIA shares. And we jump to yields. Talk about yields, man. The 10-year, basically at session lows, $106.10. We've been talking a lot about the two-year because you're getting some mammoth moves on the two-year right now. Just off of the lows of the session, but we make a new cycle low for price. $101.023 was that low. We're just up a bit off that $101.028. We jump back to some of the conversation we were having. Now, we were just talking about real estate. Before I get off the program, we've been talking about retail sales. And how about holiday spending? Deloitte, they're looking for 14% growth, man. Holiday spending to grow 14% this year. College debt and low wage growth are hurting middle-income consumers. Nonetheless, the number is 14%. Overall, shoppers are predicted to spend an average of $1,652, up 14% from last year. Shoppers with the yearly household incomes between 50 and 100,000 expect to spend 26% more. And those earning 200,000 or more expect to spend 22% more. That's big numbers, man. What's Chairman Powell thinking about drinking his coffee this morning, reading those numbers, saying, come on, man. What are you guys getting all that money? It's around, man. Wages. Tell them wages. Folks, thanks so much for starting your trading day off. We got Basil Chapman's Tiger Technicians Hour up right now. Live programming after that. Have a great Tuesday, folks. We'll see you tomorrow.


Daily Tech News show is made possible by its listeners, thanks to all of you, including Miranda Janell, Justin Zellers, and Pepper Geesey. Coming up on DTNS SoundCloud bets on algorithms to help you find better music, vehicle data could make us all safer, and do we focus too much on bias in AI? This is the Daily Tech News for Wednesday. May the 4th be with you, 2022. In Los Angeles, I'm Tom Merritt. And from Studio Redwood, I'm Sarah Lane. In Salt Lake City, I'm Scott Johnson. And I'm the show's producer, Roger Chang. We are going to talk about a hot button issue. It's not Twitter. Actually, we will talk about Twitter, but we're going to talk about bias in AI. But first, a few tech things you should know. Samsung's memory manufacturing is arguably more successful than its phones. The company just announced Universal Flash Storage 4.0, which can achieve 23.2 gigabits per second per lane. 30 would be better, but 23 is still pretty good, which is double what UFS 3.1 could do. This helps memory keep up with increasing throughput that comes from faster internet service like 5G. It's also 46% more power efficient than 3.1, so you get faster storage and also better battery life. And the 1 terabyte UFS 4.0 module is a hair smaller than the 512 gigabyte UFS 3.1 module. So you might say, sounds great. When do I get it? Samsung will begin mass production in Q3 of this year, meaning it could start showing up in phones by the end of the year and certainly in early 2023. The company also introduced pro endurance micro SD cards aimed at dash cams that can record continuously for 16 years. The previous max was five years without stopping, so quite a jump. I'm kidding. Here's my 16 years of dash cam footage. Please review it. Let's clear out all the Elon Musk buying Twitter stories right now. This shouldn't take long, so you don't even have to skip ahead too far if you're trying to avoid it. The chair of the UK Parliament's Digital Culture Media and Sport Committee, Julian Knight, has invited Musk to testify about his plans for Twitter. I guess he won't go, but he got invited. Musk has been talking to private investors who might go in on the deal with him, including existing shareholders that might be able to maintain their stake. He also says that he might take Twitter public again three years after he takes it private, which he plans to do on the close of the deal. A lot of companies have done that. Dell has done that. And he suggested he might charge for government and commercial use. There you go. That's it. That's the tweet. AMD plans to release a new gaming laptop CPU line code named Dragonrange designed for high power machines with a 55 watt TDP and up. There are 20 millimeter thick laptops that probably need to be plugged in most of the time. It's also AMD's shot at capturing the top of the laptop gaming market, arguably already dominating the mid-range and below. AMD also announced a lower power Phoenix line of chips for thinner machines at 35 to 45 watts of power. Both will be part of the Ryzen 7000 series based on the Zen 4 architecture and will arrive in 2023. AMD will give more details on them before then, so the company sets. In fact, AMD said that next quarter, it will start reporting gaming as its own financial segment. So expect more details on all of this at the June Analyst Day. All right. We have continually covered the U.S. dispute between mobile carriers and the Federal Aviation Administration and airlines over the deployment of C-Band 5G wireless. We have a whole episode of Know a Little More about it if you want to dig in. The short version is that while C-Band wireless does not operate in the same bandwidth as airplane altimeters, which are very important for landing safely, especially in fog, some older altimeters don't properly filter out all the C-Band transmission. And the fight has been over whose responsibility that is. Should they replace their old altimeters or should the carriers modify how they broadcast around airports? Right now, carriers are biting by restrictions near airports, but that goes away July 2022. Reuters reports that the FAA is meeting Wednesday with telecom and airline officials to push to retrofit and eventually replace altimeters that might face interference from C-Band 5G. The U.S. nonprofit National Bureau of Economic Research studied usage of CHIVO, that's El Salvador's national Bitcoin wallet. Since it launched last September, around half of Salvadorans have downloaded the wallet, which came with a $30 incentive, you know, just to get you started. Of those who downloaded it though, 61% have stopped using it. Remaining users tend to be unbanked people who use it to hold and transfer dollars. Yeah, so maybe not the glowing success some people would have liked, but there you go. That's the update. All right. We got some car news, Scott. Well, I had an experience last week where I got to get an up close and personal experience with a Rivian truck in the famous gear tunnel. And one of the things I learned about it that I didn't know is how much data this thing collects. It's always taking pictures, always taking video, always recording data. So these, we know this is already happening. They're out on the road. They're collecting data maybe more than ever before. And now we have a brand new effort. What is it? GM. GM is partnering with a company called InRix to collect data from vehicles for US transportation officials to analyze. The data would be formatted for the Transportation Department's Safe Streets and Roads for All program and would include pedestrian and construction worker data. So it's trying to prevent pedestrian and construction worker deaths. It could also be used by local governments for road safety projects and also for Vision Zero, an effort to reduce fatalities and serious injuries on the road. I don't, it doesn't feel like it's the first time I've heard of this though. It's not like the first effort of its kind.  Honda Research Institute USA announced a pilot program in December that would use data from cameras and GPS in its cars to help monitor road conditions and identify repairs for local transportation departments. That pilot program is taking place in Ohio. In December 2020, Europe's Data for Road Safety Initiative announced a long term deployment of a safety related traffic information system that would integrate data from cars and traffic systems. To create warnings for drivers of dangerous conditions. And the International Transport Forum runs the International Road Traffic and Accident Database, IRTAD, that contains a validated crash and exposure data from 32 countries, including the United States, going back to 1970. And it makes that data available for safety agencies to use as well. I mean, I feel like a lot of people go, well, okay, we all want construction workers and anybody who might be crossing the road when when cars are going by to be as safe as possible. But if you're collecting the data of how I was exceeding the speed limit, you know, for the last three days, is it going to come back to me in some way? I think that I think that's, that's, that's where some of this like, hmm, what do we really do with this data comes in? Yeah, to me, I don't know what this probably not a fair comparison, but it feels like browser data going back some years where the big concern was well with this new advent of cookies back when that was a new thing. And these ideas that you can kind of be tracked across the site you're on as well as when you left where did you go and this sort of thing made a lot of people go I don't want to be followed around. I don't want people to know everywhere that I'm going, whether or not you're up to something skeety or weird or whatever it doesn't matter. I just don't want people following me, especially, you know, government or big companies or whatever. And I feel like this is a little like that.  Because some people maybe don't want someone else to know that they, I don't know, they take a certain road on their commute or whatever the reasons may be. I can't help but feel the parallels from that from that conversation for some reason. And that's why it's important to this is a great example of data collection does not immediately mean privacy violation. And in fact data collection doesn't immediately mean ad targeting, which we all kind of jumped to the conclusion. Sometimes it's not about surveillance. It's about safety and this is important data to have to literally save people's lives, especially construction workers. People just kind of forget how much risk those construction workers are at when they're out doing highway work. So it's important. You guys are absolutely right. It's important that this data be privacy first. Most of these efforts have good privacy policies in place. And all of them at least say, and I haven't looked to see if they're audited, but they say that they are only aggregating data incidents. They're not tying it to like a license plate number or even a VIN or anything like that. They're just saying like this, you know, these amount of cars passed this place at this speed, that sort of stuff there. Yeah, there'll always be some percentage of people who just say, well, I don't believe them when they tell me that. And that's fine, whatever. There's always going to be that. But personally, I think data is important in almost every aspect of life these days. And I think this kind of data would go a long way to not just help us ease into the, you know, more energy efficient electric car era that we're slowly entering into. Or automation. I mean, these things are going to benefit from that data, of course, but just good old fashioned. How's that stretch of the highway performing data is really interesting and not only interesting, but saves lives, saves money, saves a lot of headache. I want my car to tell a database that will use that knowledge that this road needs work.  Let's use organizations like ERTOD to compile this and make it available to everybody who can use it. Transportation agencies, car companies, road repair, etc. Music streaming services are a convenient way to listen to music you want to listen to. I think we all agree on that, but sometimes it's really difficult to find good new stuff. That's always the trick. How good is the recommendation? Sounds like SoundCloud's got an idea, Sarah. Indeed. Yeah, so I'm one of those people who I tend to kind of listen to the same stuff over and over because discovery can be overwhelming to me. And I don't always get what I want if I'm just kind of trying new music unless it was specifically recommended by a friend, etc. SoundCloud has acquired a company called Museo. That's M-U-S-I-I-O. It's an audio AI company that can listen to new music and identify what makes a hit a hit. SoundCloud says it wants to use Museo to sort through its library of largely amateur music. Not everything on SoundCloud is amateur music, but there's a lot of it. And also help people discover things that they might love but might not find on their own because Museo's tools can sift through hours of music, countless hours, in fact. And then pick up the songs that have certain patterns and characteristics that correlate with being popular. This is a bit of a math project, really. Yeah, yeah. And they're not the only ones doing it, right? Who else is out there doing this? Yeah, so Music Distribution Platform Tunecore announced back in February that it's partnering with LAB's music startup Fuego. That's F-W-A-Y-G-O. Get it? It also uses AI to match listeners with creators. So it's a little bit different. But the idea is to get a creator to be able to have a deeper connection with somebody who really likes their music that would not have found them otherwise. Tunecore is a division of global digital music company called Believe. It's based in Paris, France. Fuego is a mobile music discovery platform which helps independent artists increase their exposure, also their earnings potentially, and they launched in beta last year. Along the same lines. DIY Music Distributor DistroKid, it's been around for some time now, has an AI bot already in place. That bot is named Dave. And it reviews tracks and ranks qualities like danceability, speechiness. Now you might say, well, okay, what does all that mean? Results, at least, as far as I checked it out, a little varied. So for example, Dave's review of the song, if you want to build a legacy, you're going to have to break some legs. That is by an artist called Madison Minor. It included 3% speechiness, meaning the song probably doesn't have talking. I listened to the song. It's like a heavy metal song. So there was a lot of yelling, screaming. You might say, oh, okay, let's start rapping. You know, maybe there's some nuances there. But yeah, the DistroKid invites people who have submitted music on its platform already to submit to Dave and see where people fall in the percentages of what is this music, how good is it to me based on what I want to listen to right now? One takeaway I have from just the recent years of streaming music, wherever the source is, that they all do okay with their algorithms and that approach. Spotify, Apple Music and others seem to do okay in that regard. But I'm a little surprised this announcement or this, let's say these movements are happening in the smaller, what we would consider the smaller areas of music recommendation on the internet. It isn't Spotify announcing a big AI initiative to improve their searchability or findability. It's not Apple announcing it either. It's coming from smaller places. I wonder if we'll see the big boys adopt a similar plan, something with AI. They just don't make as big of a deal about it, right? SoundCloud had to acquire a company. Spotify and Apple have both bought AI companies in the past. I think we're just less surprised and we don't talk about those as much because we expect those companies to buy AI. And we already know Spotify uses algorithms to recommend stuff. I think what's distinctive about this is SoundCloud is saying not just discovery. Jerdstar in our chat said, I don't think math solves music discovery well. It's a subjective issue. We don't just want more of the same. But that's not what SoundCloud's doing. They are looking through and saying, there's a lot of bad music here. Sorry guys, but there is. We can narrow it down for you and say these are most like the kinds of music that succeed and then still leave it up to you to subjectively decide which ones you like. And that's a little different than Spotify, which is trying to say, oh, well we know you like this. Let me give you more like that. Also, this is just to be clear for all of us here. Yes, this can be helpful for discovery, but this is also really helpful for artists who already have a presence who are trying to figure out, oh, who's the next person to collab with or a manager. There's a lot of business, you know, senses of this that make a lot of sense because SoundCloud is a place where I mean, you know, many artists have kind of made a name for themselves. But there are a lot of artists who obviously are trying to make a name for themselves who can't. And it's not because they're not talented. It's because there's just a lot of junk in there. Yeah, you're back to the discoverability problem. And it happens with every medium, podcastings this way, certainly music. It's getting, I think, to the point where streaming services have enough original content that they're struggling with discoverability of their newer shows if they're not marketing them right or whatever. So, you know, can we get the next weekend or the next Post Malone or the next whoever to spring out of SoundCloud the way they have in the past? Probably. But they were also among a fewer base then. They had some advantages in that regard. And now those those places are full of really talented people. How do they get noticed? I think this is the track. This is the way. Yeah, it's like a diagnostic assistant, right? The doctor still determines whether you have the disease or not. But the AI can help narrow it down where to look, right, and give an advice of like, yep, might be that. And the doctor signs off SoundCloud is right now having to just kind of look into finding things. I'm sure people at SoundCloud go through tons of bad songs. They're like, Nope, Nope, Nope. Before they finally hit one like, Oh, that was pretty good. We can recommend that on the homepage. So this is going to make that job easier narrow it down. So they're only listening to the likely candidates, which would theoretically make their homepage recommendations and their other recommendations better, because they can now choose a wider variety because they have more to choose from. Whereas before they wasted a lot of time listening to things they were never going to highlight. It would be cool if they broke some real ground here so that we could see that some of these ideas bleed into other mediums. I think podcasting in particular is really hard to get noticed if you're new, but even old timers like us, we do a new show. A lot of times we're counting on our current base to know about it and to spread the word very hard to get noticed for new people. So these kinds of initiatives I think are going to be really important for user created stuff moving forward. Well, we have a little more to talk about on the ethics of using these kind of algorithms in a second. But first, I want your ideas. If you have ideas about hosts and guests from other podcasts and shows that we should have on this show, let us know. Check out our guest survey and put in your recommendations at dailytechnewshow.com Well, in 2021, there were more than 400,000 research papers published on subjects relating to artificial intelligence. And that number continues to rise as the work expands. So do the concerns around it. Ethics and bias in the field have led to multiple controversies. And Google, for example, certainly elsewhere, we're among the outlets who have emphasized the importance of accounting for human bias in training data. It happens. How do we identify it? And how do we make it better protocol has an interview out today called stop worrying about AI bias all the time. What is going on with that? Yeah, no, it's not great. It's like, we're like you said, we're always saying like got to be careful of bias. Here's a person saying don't worry about it. It's not exactly what she's saying, though, it's an interview with Bina Amadath, executive director of the Global Deloitte AI Institute and head of trustworthy AI and ethical tech. You should read it. It's an excellent read over a protocol doing great work. Amadath knows what she's talking about. She's a database and SQL developer. She's worked in data science and AI for more than 10 years at Bank of America GE Hewlett Packard, and then joined Deloitte in 2019, and just wrote a book called trustworthy AI. In that book, she writes the following. What passes for public scrutiny is too often just seductive clickbait headlines that fret over AI bias and point to a discrete use case. There's a lot of noise on AI ethics and trust, and it does not move us closer to clarity or consensus on how we keep trust in AI commensurate with its power. All right, so if you're someone who says, well, shouldn't we be concerned about AI bias? What what what what direction is she going? Yeah, yeah, she's pointing out that it's not that there isn't bias or that we shouldn't be concerned about it. It's that we only think of bias in the cases where it matters. And there are lots of cases out there where other ethical concerns are important. And those are getting overlooked. For example, she points out predicting jet engine failure or wind turbine power generation. Reliability, security and safety are more important in those cases. She even uses a medical example. Practicing, you could say like, oh, well the medicine, it should always be about bias. Well, whether an MRI machine might fail or not, bias might play a part, but it's probably not the most important part. If human data isn't involved in a decision, bias probably doesn't play an important part. AI ethics also need to account for situations where other concerns might outweigh bias concerns, even when bias is a big concern. And she uses the example of identifying potential human trafficking victims as a place where there might be bias in your data set, but that bias might be tolerable if that algorithm is better at identifying victims of human trafficking over not using it. It's a question anyway. And I think what she's trying to say is not don't take account of bias, but don't assume that's the only problem. So she's not saying that bias is a problem, just that bias needs to be, you need to identify it and in certain situations it's helpful and in others it is not. Yeah, yeah. She wants the public conversation to not identify bias as the only problem. We need to add to the conversation. So she recommends that ethical practices should be part of every employee's training. If you're using AI in your business, the intern should know about it just as much as the data scientist, because every employee is going to use the tools that the data scientists create. The interns in HR is going to use that weed out algorithm that the data scientist created for HR, so they need to know what questions to ask and everything like that. So it strikes me that the concern here might be, this is my average brain speaking here, so I'm happy to be corrected on this. But it seems like the bias in AI is something that let's say lay folks, people who don't understand this stuff or haven't really paid a huge attention to it, they're going to be the ones with the least amount of information about what this even means. Like what does even mean to say an AI has bias. I feel like there's a big opportunity for education kind of across the board and that's what she's doing. This is good, right? This is a step in that direction, certainly. But so that people understand the more and more our world gets wrapped up in automated systems and AI driven systems that we have as clear understanding as possible about what that actually means so that we can back off of the nerves about it a little bit. That seems like that's always kind of part of this problem. This is such advanced stuff, whether we're talking about vehicle automation or a million other tech advancements. Having a voice assistant in every room, this sort of thing, these scare people who haven't really been filled in. And so some of that is on them because they're just not bothering to fill themselves in. But this one feels like a complicated one and I hope there's more of this, more talking about it, unless saying, well, it's AI, no one can understand this is really high end stuff and then everyone feels like, well, wait a minute, you can't do that. I need to know. I mean, it's built by humans. It's not that hard to understand. There's a nuance to what she's saying, which I think gets lost in our simplified 280 character conversations out there, which is, you know, there's bias in AI, well, then we should stop using it, right? If that's the extent of the conversation, you're going to come to the wrong conclusion because, as she said, we can use these algorithms to predict jet engine failure. We can use them to stop human traffic. We use them for a lot of very good things. We just need to be responsible about how we use them. And that doesn't mean, oh, just ignore the bias. It means fix the bias and also make sure that you're paying attention to all of the ethical concerns and the other things you do as well. And I think that's worth paying attention to. Yeah, it's not the same as saying, we can't have uranium based decorations at this restaurant. No, we're going to go back and figure out how we can do it. This isn't that. This is an alterable, tweakable, look at it from a different perspective, find something to go, oh, that is kind of weird and we don't want that bias in there and go and tweak it again. Like, I got to have that attitude, I think. You have a lot of places with uranium based decorations. No, I don't know why I thought of that. In what world? You know, an example we can all identify with.  They're really fun. I just run in the wrong circles, I guess. Apparently so. Hey, wait, you're in my circles. Never mind. Oh, I know. Yeah, Google plus, pour out a little liquor. Okay, so US based movie studios and streaming services. This is not funny have largely shut down in Russia and are no longer supplying their content to the country and that's in protest over the war in Ukraine. We all know this. However, many folks in Russia were still able to go see the Batman. And it wasn't because Warner Brothers or DC changed a policy or because theaters there broke the law. What's going on here? Dan Campos has an explainer. The Russian economy in conditions of pressure from external sanctions where it eliminates fines for violating copyright laws in digital assets, such as movies, music, software or video games. For more information about this, listen every day to Noticias de Tecnología Express, the Duolingo of Tech Podcasts. I love the Duolingo of Tech Podcasts. Go sign up for NTX and brush up on your Spanish. Or if you already speak Spanish, it's going to be perfect for you. I had heard about this law, but I'm glad Dan brought this back to our attention to be like, yeah, they are in fact using it. It's not just a law they put on the books. They are showing the Batman in theaters. And yeah, it's crazy to think that they went to the extent to change copyright law because copyright law feels like that immutable thing that even the theater owners might be like, well, don't change it. Because if you open that door, then piracy is going to get worse. It's a weird and crazy thing to think about. Yeah, and some people, you just need the Batman. I get it, man. You've got to have the Batman. So I'm not saying this is good. I'm not saying anybody has anything. I'm just saying the Batman, sometimes you need him. Yeah, I mean, it's just great responsibility. I don't know. Yeah, it's an illegal bat signal, but it's the bat signal. The movie they deserve. There you go. God. But he's the movie they pirated. All right, let's check out the mailbag. Let's do it. Yeah, Mattia wrote in this was in response to our conversation Monday, where, where Rich declared his love for Jens Lechman. Mattia says, Jens Lechman will never go stale great deep dive into the music scene and why artists are increasingly releasing older products. I've been doing this for years with greatest hits compilations. But the cynic in me wants to point out remixes or modified versions of their original song is a cheap way to put out a new product and increase your revenue. Ultimately, the only correct response to this conversation is Hans shot first. Very nice. The real quick note on that. It's not that different than, you know, what we used to call reruns back in the 80s. And I'm watching the fall guy for some reason. Well, no, it's different from reruns. It's like if they went and reshot the entire show. Yes. That's a better way to look at it. Yeah. And I wouldn't mind that. I'm not saying that the fall guys totally out of date, but it's pretty out of date. So up your game. Isn't that what we get though? Everything gets reimagined. Yeah. You know that thing. More than ever. Yeah. Things are being reimagined quite often in fact. Yeah. Who knows how many shelved scripts there are for the fall guy movie. I know they exist. They there. Also there. I don't know the last time anyone watched back to the future, but that's one of my favorite scenes where the kids like, what's a rerun? And he's like, Oh, never mind. Because it's not a rerun to watch for a lot of kids to watch friends or the office. It's the first time through. Yeah. Exactly. Yeah. Well, thanks to you, Scott Johnson for being the best person ever. Let folks know where they can keep up with everything else that you do. Yeah. Take that every other day's guests.  Just kidding. You guys are all great. Yeah. There's a lot going on. If you listen to the show, there's a good chance you like daily content. I have to figure. And so as a result, I thought today I would just mention that I have a daily morning show that I do with my good friend, Brian Ibit. In fact, Tom's on Wednesday as we does a tech segment before we all come together here today for this. And that happens every week. So if you are looking for some good old fashioned fun morning entertainment that doesn't sound like every morning show you've ever heard, come check it out. We're over at frogpants.com slash TMS. It's the morning stream. If you're searching for it for your, for your podcast apps or whatever. So again, that is frogpants.com slash TMS. And for everything else, you can find me on Twitter at Scott Johnson. Excellent. We also want to thank our brand new bosses, Christopher and George just started backing us on Patreon. Give a warm welcome to Christopher and George. It's very warm. No, I didn't hit the wrong button. This is an actual audience that we have here. And they blew the air horn. There's a longer version of the show called good day internet. We'll probably laugh about this and lots of other things available at patreon.com slash D T N S for all the live viewers and those after rolls right after D T N S. But just a reminder, we're live Monday through Friday at 4 p.m. Eastern 20 hundred UTC on D T N S. And you can find out more at daily tech news show dot com slash live. We are back doing it all again tomorrow because that's what we do on weekdays. Just remember young will be joining us. Talk to you then. This show is part of the frog pants network. Get more at frogpants.com. I hope you have enjoyed this program.


What's going on everyone? Sam here with late in sports cards, Rupin 23, top Star Wars, signature series, 20 box case break number 15, random hit style. The way this is going to work is we have our 20 participants copied into a random hit doc or a google random.org window. We also have another one that the hits are going to go into. As we're doing the break, Jake is going to be typing in the description of the hits in this random hit sheet. Once the break is over, we'll go and copy the hits into this window. Roll the dice, say it's eight times random. The names eight times, hits eight times, copy them over, whatever name or whatever hits next to your name is the hit you will receive. So good luck here, everybody. Let's do our last break of the night. Thanks for your patience on this one. Decided to move it, give it a little bit more time to fill up so we didn't have to wait around. Nice one there. Matt Barry is 88, version two auto. Next up we've got a Pamechanero Good, Refractor Auto, that is Crystal Clark as Pamechanero Good. Next up we've got a Grand Moff Tarkin, that is from a Star Wars story, Guy Henry as Grand Moff Tarkin, Walks and Errors. Yeah, I guess that's the way to do it. We've got a Tali Lintra, that is Hermione, what is that? Corfield as Tali Lintra, Idrio Two Tubes, Eddie Two Tubes. Nice one there. Good luck on that.  It's going to be Tio 81 from Star Wars Visions, Jaden Waldman as Tio 81. Ben Joyce Pitch, nice. Noice Joyce. Noice Ben Joyce Pitch. Next up is going to be Imperial Frader Pilot from Mandalorian, Alexander Wraith as Imperial Frader Pilot. Next up we've got Crescenton, it's going to be Kerry Jones as Crescenton. Rio Duran, 12 walks and three errors, oh my god, dude. That's bad, that's really bad baseball Chris, oh my lord. That's a 50 K2SO, that's 9 of 50, we've got Alan Tudyk as K2SO from Rogue One, 9 of 50 K2SO. All right, second half of the case now everybody, move these a little closer. Azuma, one of five, nice one there. Andrew Cachino as Azuma from Star Wars Visions, one of five. Grats on that one, that's pretty cool. One of five on that, low number. As Lily Cole as Lubby on the version two auto, version B whatever they call it. One of the others, version two or version B I believe. These highlights are great, legal tracking down the trash pandas game. Nice, Ben Kenobi, that is four of 25. Stephen Stanton from Star Wars Rebels, Ben Kenobi on the green auto, four of 25. The Phantom Menace Scott Caperro as Bede. Six to go everybody, let's see something big. I don't see a duel, see a duel to end us here. There's Luminara Unduli, that is Olivia Diabo again from Clone Wars, Luminara Unduli. Next up we've got a Twilec Major Domo, Twilec Major Domo. My man shot the fly ball with two, I slip three runs score. That's bad, that's really bad. We've got Body Rook, that is 31 of 50 Riz Ahmed from Rogue One, Body Rook, 31 of 50 on the blue. Next up is going to be Forlom, Refractor Empire Strikes Back, Forlom, that is Chris Parsons. It's Even Peel, Refractor Auto, not numbered, Even Peel. Again we've got Michaela Cattrell. And last box of the break everybody, last box of the night, look, is Addie Gallia on the Refractor Auto. Angelique Perrin is Addie Gallia. Jake tight that last hit in, I want to bring you guys over to our random now. We've got our 20 participants, now our 20 hits are copied in. Let's roll the dice. We do, we do actually Vic. Six times, one, two, three, four, five, six. Amane S down to Francis D. And six times on your hits, one, two, three, four, five, six. Grand Moff Tarkin down to Twilec Major Domo. Amane S, Grand Moff Tarkin, Paul B with Ben Kenobi 25, Francis D with Paymash Nero Good, ZKLM, Body Rook to 50, Dylan P with Lovey, Kenneth H, Rio de Rant, Justin S, Addie Gallia, ZKLM, Even Peel, Francis D with the Four Larm Auto, the Azuma Auto, One of Five, and Lumonara, Unduly Auto. Paul N with the, I think that's, yeah, Paul N with Imperial Fighter Pilot Auto. Frater Pilot Auto, Tom B with K2SO, Paul B with the B Auto. Ryan M with the Drio 22. Can you check, is there Paul N and a Paul B in this? Yeah. There is. How many does Paul B have? Three. Two, three, and Paul N has what, two? Yeah. Okay, perfect. Never mind. We're good. Dylan P with 88, Francis D with the TO B1 Auto. We've got Paul N with Tally Linshra, Paul B with Chris Santon, and Francis D with Twilight Major Domo. We've got these copied over, guys. Got nothing up next.


Live from Las Vegas, it's theCUBE. Covering InterConnect 2017, brought to you by IBM. Okay, welcome back everyone. We're live in Las Vegas for theCUBE's coverage of InterConnect 2017. This is three days of wall-to-wall coverage. Stay with us for the entire event. This is day two. I'm John Furrier with my co-host Dave Vellante and our guest is Willy Tejada, who's the IBM Chief Developer Advocate at IBM. Welcome to theCUBE. Thanks you guys, I'm really pleased to be here. So I'd love to have you on because all we do is talk about developers and what's in it for them, who's doing what, who's got the better cloud, who's enterprise-ready, all that good stuff, commentating. But I love Jeanne Rometti's conversation today because we're just at Google Next, cover Amazon events, all the cloud events. And the thing that's been on our agenda, and we've been really looking at this, is cloud readiness in the enterprise. And this is really kind of fundamental what she was talking about. Enterprise strong, data-first, cognitive to the core, which kind of is there are three pillars, but this is where the action is right now. Yeah, you know, for developers that's exactly true. You know, what she outlined is really this idea, basically there's three kind of core architectures, right? It's cloud, number one, followed by data later on top of that, and essentially AI or cognitive on top. And what that means actually for the developer communities is that there's a new set of skill sets that are probably moving faster than we ever seen before, right? And a lot of it's actually driven by the explosion of data. And so one of the things that we think that there's going to be a huge shortage of, and there is a huge shortage of, is data scientists and cognitive developers. Because in those layers, what we've seen is that more and more you operate on a data-first model. And by just that definition, what you need to know about data is pushing towards a practitioner level of data scientists. And the reality is that we think that that type of core skill set's going to be needed across all of the developer community. So take a minute to describe what, and then define a cognitive developer. I mean, what that, and the nuance behind it, because obviously the developers are doing really cool creative things. And then you've got the heart under the hood, production workloads and IT. So where's the cognitive developer fit in those spectrums and what is the core definition from your standpoint? Yeah, you know, the cognitive developer really is a person who's actually participating in actually the generation of a system that's fully cognitive. So, you know, adding a cognitive feature is one thing, but actually building a full cognitive system is something different. You know, if I use a comparison, think about how some of these roles and big data came about. You know, big data came, but we didn't have things like a data scientist, we didn't have a data engineer, and it kind of came after the fact, the roles that were actually defined. Now we're onto these new cognitive systems where everything from you have to train the system, you have to have explicit knowledge of what the APIs actually do, and you have to have infrastructure that actually curates data that continues this training along those lines. So, you know, the cognitive developer is really one that's participating in that particular ecosystem. Now what's really important though about that is that they are usually programming in the language that they're usually programming in, whether it be Java, data scientists are using R, or they're using Python, but the reality is that a cognitive developer is that one that's applying those cognitive properties to their system that they're developing. So this is interesting. You mentioned the cognitive development of new tools and stuff, but there's some really good trends out there that is the wind at the back of the developer right now. Cloud Native is a booming trend that's actually phenomenal. You're seeing container madness continue. You've got microservices, all with the Kubernetes under the hood. So there's some cool, exciting things in the trend lines. Can you unpack that for us, and what this means to the developers? And how does it impact their world?  Let's see, what are they, add to that, what's the impact of the developer? We talked about a new container service, basically, based on Kubernetes that's allowing us to actually build some tremendous scale, actually, and really simplify that type of development, actually, when you're doing native cloud development. You know, probably the most important things for developers is just the accessibility of all these pieces. Of course, it's driven by open source, but you know, if you want to learn these technologies, if you want to participate in experiment with these technologies, they've never been more available than they actually are today. So, if I may, so Tanmay is a good example of a cognitive developer, right? Absolutely. He's all cloud native, he's all cognitive. Nice shout out from the CEO today. That was awesome, and he's also an algorithmist, you know, self-declared algorithmist. I can't even say that. Okay, so here's Tanmay, he's never going to know anything else, right?  You know, where do you get the skills? What do you recommend that that individual does, and how do they get up to ramp?   They figure it out. Just kind of mess around in it, along those lines. They go to a meetup or a hack from that standpoint that's based on cognitive development. And, you know, so they should just go about what they normally do, kind of along those lines. And then, you know, and then I think basically there's an advancement, because ultimately, we're publishing these things called journeys, which are really kind of use cases in a cognitive-based environment. So, as an example, we might publish a journey on a cognitive retail chatbot, and it will combine a variety of these microservices that Watson's actually built on, but give them exploration into how they use a chatbot, how they use a service called Discovery, and how they use persistence, basically, so that essentially they can learn from the data that they actually have. And then, ultimately, if they want to do is to actually get deeper into it, there's organizations that we partner with where we give them cognitive curriculum that allows them to experience these pieces, like TopCoder. You can go on and do a cognitive challenge right on TopCoder, or you can go to a cognitive course designed by Galvanize, one of our partners in relation to skills development. So, it's interesting about that journey. So, when you think about big data, we're talking about big data before, the sort of point at which a company like IBM would engage in that journey is somebody who's exploring and maybe kicking the tires a little bit, or somebody who had a data warehouse that was killing them. Where is, obviously, there's a part of that in the cognitive world, which is experimental. Is there another sort of analog to the data warehouse sort of disaffection, if you will? Yeah, now, one of the things that we spend a lot of time on is that every organization that's going to build a cognitive system is looking for cognitive developers and data scientists. So, essentially, mess around with... Across all industries, by the way, cyber security to... Absolutely. So, one of the key pieces is what kind of tools do you actually give that data scientist to mess around with that data set? We provide something called a data science experience. And the idea there is essentially, how do you give them an environment that allows them, essentially, to look into the data very quickly, actually have these data sets, and really kind of explore the data in a way that they never were capable of actually doing that.  Well, I couldn't agree with you more on the whole how developers learn. It's really not a courseware online in the physical classroom. Yeah, it may be there if they're in college, but it's the practitioner world of nonlinear learning through experience. And these journeys are super valuable. And just for a tactical question, where do they find the journeys or URL? What you'll find basically in, come April 1st, we're going to launch a number of them on developer.ibm.com slash accelerate. So they'll be focused on several different categories. Number one will be just developing in the cloud, cloud native. What's the journeys basically that, they're kind of like common setups that you actually need. We'll do next ones on cognitive and analytics where you pull together a set of services along those lines. And as you heard Ginny talk about, it's really important that a cloud have knowledge about a domain or an industry. And so we'll create some journeys that are actually very industry specific. You know, we announced. Like they're like templates basically. They are. People jumpstarted not so much a reference implementation. Exactly. But you know, what it's all about is, you mentioned this nonlinear journey that kind of developers on to actually learn. You know, fundamentally they have a core thing that they're trying to actually get done with just, can you help me get my stuff done faster? Right. And fundamentally when you talk about cognitive or data science, we're trying to actually deliver them tool sets or examples that do that. So I now got to go to the next level with that question. Because first of all, it's awesome. Now, how do you intersect that with community? Because now that's super important because you might want to take a minute to just do a plug for IBM in terms of the open source goodness you guys are doing because you guys do a great job with open source. We just hosted a very large, what we believe is one of the largest open tech meetups right before basically Interconnect actually started and we had one of the ballroom's actually full. And you know, we talked about our nurse service. We had Jim Basic from the Linux foundation actually come. You know, he stated a stat which was really interesting in open source which IBM is a large contributor to, that I think the stat that he said was Linux basically as a project now, there's 10,800 new lines of code and 1,800 lines of code that are modified every day, right? And that's the community. It's only going to get faster if you think about like just the physical media like SSDs in memory with Spark. The kernel, the quantum Linux is going to evolve in a radical killer way and this is the beginning. And to your point about the community, you know, when you think about that advancement and the pace by which basically that kind of software is actually going to move, there's not one organization that can outpace that type of community in the way they actually do it. It doesn't matter what the services actually are. Well, the other interesting thing is the impact on humankind. You heard Benioff and Ginny talking about it this morning and they were both really emphasizing, you know, machine augmented, right? But it's like a Pac-Man device.  Yeah, absolutely. So, and I know IBM obviously a big believer in augmentation, but it's hard to predict what things humans are going to be do that machines can't do. Any insight on that? Yeah, you know, I think we use the word cognitive assisted. You know, so when you think about it, I'll give one example, let's say for example in the medical professional. So, you know, if you look at in that healthcare industry about 90% of the data in there is not like structured data. Right, it's all unstructured data. A lot of it is images. So if you take a look at someone basically that's in oncology work, taking a look at things like melanoma. You know, the amount of time, I think the data set said the amount of time he needed to watch or get trained on to look at all the new papers that were ever published was probably three weeks basically. You know, if he's thinking about that in a month. You know, the amount of time that that person actually allocates to actually keeping up with all these particular trade journals is a few hours a week. And so he's constantly behind. This is where something like a Watson enabled or a cognitive enabled type of application can help him actually keep up to date with all the new findings based on research papers in his particular field and do something like ingest millions of documents and understand them, but actually apply it to his work. So you know, what you find is that doctor is actually utilizing a cognitive assistant powered by Watson to help him do better diagnosis. Well, you're an advocate for the chief developer advocate for IBM. Talk about for the last couple of minutes we have, what's on your plan? We just saw the news yesterday, the $10 million investment to get education out there and bring this cognitive developer category and kind of lift that up and with Galvanize, which we've supported some of those signature moment events with theCUBE. Where are you going to be out in the field? What's some of your go-to-market activities? How are you going to do this? And then talk about the patterns you've seen in the developer makeup. Just over the past year, what's changed? What's notable? Yeah, so you know what, you know, some of the things that we're actually doing is number one, we're taking out very large presidents in probably nine cities around the world with a very big emphasis on building on data science and cognitive developers. So, you know, there's kind of the usual suspects, the San Francisco's, the New York's, the Tokyo's, the London's, some presidents in Sao Paulo. We're doing Beijing. We recently just basically announced a partnership of how we can actually get presidents actually there. And through that, we're looking actually to bring this presence basically into those communities. So this idea that we actually help actually put forth these journeys. But in many cases, actually be right in the presence of things. We have these, you know, in some cases, we have some programs that we're actually spinning up that are all about essentially how we actually do things like IOT Thursdays or cognitive Tuesdays where they can actually see, you know, actual experts in those particular areas and just come actually do office science.  That's it, that's it, that's what we're actually looking at from that standpoint. So yeah, you know, a lot of the stuff basically is just actually getting to some of those folks in a very, very intimate way. And like you said, actually kind of populating these folks were kind of where they are. And really what that's all about is essentially actually getting the tools and tool sets in the communities that they find and the peer learning that they do. Which is really fun. We'll see you at some of the galvanized events you guys got going on. We'll certainly see you at DockerCon. We got a lot of cube lineups for the spring tour in the fall. Ton of developer activity. The cloud native stuff is really an intersection point with big data colliding with cloud. IoT and AI is just really this cognitive is just an accelerant for the cloud. It's like the perfect storm is a good opportunity. There's never been a more available time in terms of technology and the technology's never moved as fast. I was just saying at 10 May when he was on yesterday, I wish I could be 13 again, coding so much more fun now than it was when we were doing it. Well, great to have you on, Willie. Hey, thanks very much. Thanks for sharing. It was actually good visiting with you guys. Great insight. Insight from the chief developer advocate here at IBM. I'm John Furrier, Dave Vellante. Stay with us for more coverage. Great interviews all day today and tomorrow. Here live in Las Vegas. We'll be right back.