What is going on everybody is Stas here welcome back to yet again another video so in today's video We're gonna be doing an overall market update taking a look at the Dow Jones the S&P 500 and the Nasdaq We're also going to be doing a very brief trading update today As well as taking a look at some other stocks and ETFs that did very well today that I'm personally watching Over these next couple of trading days And I also wanted to tell you guys if you want me to talk about any stocks or ETFs in Sunday's video drop a comment down below Right now at the end of the video whenever you guys want with a ticker symbol that you want me to talk about So typically every Sunday I talk about 10 stocks that I'm watching for the upcoming week And some of those are ones that you actually called out shouted out either on the comment section in Friday's video Which is this video you're watching or in the call-out section So if you guys want to talk me to talk about any stocks drop a comment down below right now And if you enjoyed this video feel free to hit that like button It really supports me and supports the channel in general and without further ado guys Let's just hop right into it So the S&P 500 today almost hit the all-time highs guys. We were almost there $1 off We ended up closing at 29 39 point eight eight up $13.71 at the close up 0.47% and we actually got some good news really great news I would say about our first quarter GDP growth. It was at 3.2% Which absolutely blew away Expectations a lot of people didn't expect this but the economy in the first quarter did very very well And I personally think this was a catalyst in the market's performance today Just figured I'd mention that if you want to do more research on that I advise you to do so go take a look read some articles look at some charts to see how the growth compared to previous quarters And guys I'm telling you it's pretty good growth here pretty pretty good growth in terms of GDP That's just telling us the economy is doing better than expected, right? Which is some pretty good news for the overall stock market So the Dow Jones industrial average here up eighty one dollars and twenty five cents at the close of point three One percent here pretty solid day in terms of the Dow and the NASDAQ pretty solid day as well up thirty eight dollars And seventy five cents up point five oh Percent so let's go back over here to the S&P 500 will break down some technicals Very briefly to see what I'm personally seeing here and where I expect the markets to go So over the past couple of videos guys if we hop here on the S&P 500 the five-day five-minute chart We've been talking about this little range that the S&P has been trading between between twenty nine thirty five and about 2915 is that twenty dollar little buffer range the horizontal channel pretty much that we've been trading in there was a stronger resistance at This level we struggled to get out of it. I believe this was on Monday or Tuesday the next day again We struggled the next day we struggled, but today guys We finally ended up popping out up to the 2940 level nearly which is a very good sign that this was briefly or Really a brief consolidation zone for the SPX Before we're pushing up to another high or high for the continuation of the uptrend So all in all what I'm watching now guys is for us to potentially hit those all-time highs this upcoming week Which I personally think we're 95 90 95 percent And probability from my personal opinion that we are going to hit those all-time high simply because we're literally a dollar and three Cent's away from those highs so one literally one little brief green day one little brief pop up Let's say Monday we pop up a bit. That's going to be an all-time high, right? So there's a very high probability unless we just tank right unless the market just tanks on Monday that we are going to hit The all-time high so how to just keep an eye honestly guys, you know on the all-time high, right? Are we gonna pop back up and then from there? How is the market going to react? Right? Are we going to continue to push up maybe to 2950 2960 before we see another little plateau before? We see a potential retracement. That is what I am watching very very basic here on the S&P 500 So going over to the Dow Jones industrial average. We were talking about how it was trading between 26 426 800 really over these past couple of trading days yesterday We ended up selling off or the day before let me just double check. Yep. It was yesterday. We gapped down We saw 3m the company ticker symbol MMM. They reported pretty bad earnings and stock tanked a bit about 13% That brought down the Dow in my personal opinion. We ended up dipping below that support at 26 400 But we ended up opening right at that level. We actually dipped down a little bit retested that support today And we bounced up closing at about 26 540 putting us towards the middle of that channel that we're seeing here on the 180 for our chart, which is very good that we've bounced on that support level We're looking to continue the uptrend here and we're looking to test that resistance at 26 800 and let me just draw this little Trendline for you all and if we zoom in a bit you can see it better You know this bounce here and the pop is the higher low that we need for the Dow Jones To continue the uptrend right the higher low at 26 400 ish, right? Well, we saw that bounce the previous at about 26 100 the previous from that at about 25 4500 so the uptrend is intact on the Dow based on what I am seeing and it's Absolutely down pouring outside right now guys. You probably can't hear that. Oh my god It's down pouring outside right now, but nonetheless the Nasdaq today It's in a very similar boat to the Dow Jones, right? We saw that little pullback from the all-time high at about 78 79 down to this 50 simple moving average on the 184-hour chart we ended up hitting that support level very nicely And now it's looking like we're continuing the uptrend at a higher low from the previous, right? So this is very very simple, you know these Technicles, you know, they're not too difficult to see and understand, right? We've seen the markets be in funkier places and when the Technicles are looking like this again. It's just very easy to decipher and very easy to Kind of predict where the market is going based off the data the data that we are seeing right? So we'd simply pull back a little bit of a retracement right over the past day or two You know, we've seen retracements like that in the past, right? We push to a high here pulled back push to a high pulled back push to a high pulled back It's just part of the uptrend right once a stock ETF index future once it's going up, you know Consistently there's always going to be healthy pullbacks and that's just honestly what I'm seeing here in terms of the Nasdaq So that's the overall market update today guys What you need to keep an eye on is just simply the S&P 500 are we going to hit all-time highs this upcoming week? I personally think we are and that's pretty much it, right? Let me know down below in the comment section. What do you think about the overall markets right now? What do you think about the SPX are we going to hit the all-time highs? I personally think we are I would love to see what you guys think about that So let's talk about what I ended up doing today in terms of my trading You saw in the title of today's video the stock that I'm personally swing trading my biggest swing trade position right now is Procter and gamble guys ticker symbol PG and this is one that I was scaling in After they reported their earnings right and if we hop over here to Procter and gamble This is one that's played out 100% beautifully to my plan, right? We can see the the peak was at about 107 to right we pulled back on that earnings report They beat on EPS. They beat on revenue, right? But their Gillette segment was lacking right one of their baby segments was lacking as well But they're innovating in these two segments of the business Which in my opinion is going to stimulate growth and the other growth and their massive massive category of You know products businesses segments the growth in the other ones right other than Gillette and this one baby one They've been pretty good, right? They've been pretty good and the stock has rebounded here with a very strong date today of about $2 and 58 cents up 2.5% I got in again on that day. They reported earnings I forget what day it was exactly so this is Friday Thursday Wednesday Tuesday is when they reported earnings, right? We went down all the way to $102 and 13 cents opened up nearly 5% Margin of profit, right? I ended up getting in right here at 103 80 ended up adding more Towards the end of that day and over the past couple of videos I've been talking about how I want to add more into Procter and gamble once we broke above a 105 dollars and that's exactly what I ended up doing today guys, right? We saw the big gap up from 103 60 at the close all the way up to 105 73 We can see again a $2 58 cent move here, and I ended up adding more money at literally 105 dollars I had an order there to buy a couple of more shares ended up doing that and now I'm in with a pretty sizable a pretty strong built position in Procter and Gamble so I was talking about in the group chat You know how my limit order right now on Procter is at about 107 50 I believe 107 50 or 108 I have to double check that but that is where it currently is right now But I'm thinking potentially here guys, you know, especially with this GDP news that we got You know, I think there's some more green upside in the markets now You know, I personally might hold Procter and gamble a bit longer than expected, right? Maybe maybe past 108 maybe past 109 maybe around 1010 or not 1010 110 that is where I might end up holding Procter and gamble as of right now and obviously, you know This is something still in the air. I was typically I was originally rather looking to sell at 108 So to protect my profits, I'm using a pretty tight. You know trailing stop right now not too too tight It's around point five percent. I believe just to protect the profits But with Procter and gamble being a quote-unquote safer stock, right? It's a blue chip It's one of those companies that you know, isn't too vile title be quite honest with you guys I feel a bit more comfortable leaving a bit of wiggle room there in the trailing stop and holding it a bit longer As it does recover and to be quite frank with you all it seems like it's recovering very nicely, right? We ended up bouncing on the 180 SMA, which is what I was hoping for we got that We broke out of this 50 simple moving average resistance on the 184 hour chart These are just very very good signs for Procter and gamble. So let me know down below in the comments section What do you guys think about Procter and gamble? I know a lot of you or some of you rather We're talking to me about it either on private DM and the discord that you're trading Procter and gamble And honestly, I think this is one of the best in my opinion, right? Obviously a lot of people's opinions vary out there But in terms of swing trades, you know in the market right now This is one of my favorite ones and don't just buy it based on my opinion guys You have to do your own research or due diligence Understand the risk, right? You have to understand these different things before buying it and don't buy it Simply because me some person on YouTube is talking about it and buying stock That is not the way to go. You have to understand for yourself why you're buying what you're playing where you want to sell Where you want to add more etc. Etc. So that is the biggest swing trade that I'm in right now Procter and gamble. So what else am I in right Facebook's one that I'm in and ended up You know losing a bit of money today, but I didn't lose money because I didn't sell right So I'm basically just down a bit. I was in Facebook from yesterday around the 193 level today was kind of a volatile day in Facebook stock. We can see Popped up to 192 sold off to 189 now We're chilling at around 191 50 towards the end of the market So I'm still comfortable holding Facebook especially because of the positive earnings report that they did have So this is just one that I'm simply holding right. I'm in with a smaller amount of my position, right? I'm in with about 20% of my goal position until we get a confirmation that we're pushing up into the mid 190s Where I plan on adding more money So Apple guys is another one that I ended up buying just a little bit here guys just a little bit You may be asking yourself Stas, why are you buying Apple when their earnings reports is on the 30th, right? Don't you not buy stocks before earnings report? Well, this is simply a weekend swing trade for me guys I'm looking to I bought a little bit of money here or put a little bit of money rather in Apple I'm looking to swing it simply over the weekend with a plan of selling on Monday, right? This was kind of an off-the-wim decision. It might not work out for me, right? But I'm looking to capitalize a small gain here if Apple does well on Monday, right? And the goal is to sell before earnings potentially hop back in after earnings. We'll see what I end up doing I will let you guys know in the future video But what I'm seeing in terms of Apple here is we've pulled back a sizable amount since 208 down to about 204 dollars we're maintaining the 50 simple moving average here on the 184 hour chart Which is a pretty good sign that we want to reverse back up and it's kind of just a You know a play here where I'm looking to hop in on the dip. Hopefully we pop back up on Monday That is the goal right now with Apple Let me know in the comments if you are trading Apple, you know This is a smaller position out of the three ones that I'm swinging right now guys Apple is definitely by far the smallest one due to their earnings Maybe I'll lose money on this one. We'll see what ends up happening But of course the goal is to make money just like every single trade that I take does it always work out that way guys? Absolutely not. I lose money. You probably have lost money I guarantee you've lost money and every trader out there everybody investing their money long term Everybody that swing trading everybody that's day trading has lost money at some point in their lives So very quickly guys I don't want to keep you all too long and remember drop a comment of some tickers You want me to talk about in Sunday's video? Let's just go rapid fire on some stocks that I'm personally watching so obviously Apple. I'm watching Apple next week They're reporting their earnings Facebook. I'm watching Facebook. Of course, they reported earnings very volatile Looking for it to get back to the mid 190s potentially $200 again like it did on their earnings report day AMD advanced micro devices is another stock that's reporting earnings on the 30th unless they pushed it back. Yup April 30th 2019 the last day of April is when AMD is reporting their earnings We're still trading in that horizontal channel pretty much here between 28 ish dollars and 27 dollars Maybe we'll break out after their earnings report upwards of the 29 level 29 15 maybe 30 dollars That's what I'm watching in terms of advanced micro devices. We've seen a pretty sizable move in gold here guys We broke out of the 50 simple moving average resistance here We popped out of there now We're looking to test this 180s sum a which has been a resistance over the past couple of weeks here So Jnug as you can imagine since gold did very well today Jnug Followed since it's an ETF that goes up whenever gold's going up We had about a 10% move here in Jnug at the close of the market But one thing I'm watching here in gold guys is that simple moving average the 180s and may again It's been a strong resistance here We're seeing the bearish cross not too good of a sign But if we break out of that 180s and may if we start to truck back into the $1,300 level This can be a sign where we could potentially be reversing to the upside in gold But until we see that I'm not personally going to be touching Jnug But I definitely think it's worth taking are really just keeping an eye on right and let's see We get rejected here and we slowly start to continue the downtrend from a lower high reversal You know this can be an opportunity to hop into JD ST Which is the bare ETF that's going up whenever gold is going down So another one we saw tank today absolutely tank was crude oil guys So we went from 66 70 ish all the way down to $62.80 at the close here of the lowest point on the day was around 62 28 And if we're just hopping over here taking a look at some technicals, what are we noticing guys? We're noticing a green bullish candlestick forming on top of the 180s and may here on the 184 hour chart Where it's historically bounced over the past couple of months So this could be a point in time where we are at a very big dip This has been a correction that we've been waiting for on crude oil and UWT Which is an ETF we trade based on crude oil which goes up whenever crude oil is going up This one had a sizable pullback today, which could be a good opportunity now Especially if crude oil does end up popping up and if you don't know what ETF I'm referring to it's you Wt here. We saw the 10% pullback. This is definitely one I'm watching this upcoming week So I'm going to end off the video here guys if you enjoyed it feel free to hit that like button again It really supports me and supports the channel in general if you're new to the channel and you're not subscribed yet What are you doing hit that red button? Subscribe to the channel I really appreciate all of you guys out there watching and subscribing to the content and hit that notification bell So you're notified every single time that I do make a video and I make videos pretty much every single day Especially throughout the week on trading investing and the stock market.  Don't forget to drop some tickers down below. Peace out guys


Hey everyone, this is Dan with another episode of my rising interest rate videos. I posted my last video on this topic 10 days ago and shared my findings that the semiconductor sector and the finance sectors were the top-performing sectors in the years when the interest rates were rising during the last 22 years. Today I've expanded my study and included 12 industry sectors for comparison. I found something more than last time and would like to share with you about it. Let's get into the details. First of all, I'd like to remind you that I'm not a financial advisor. I share my stock trading strategies and analyses for entertainment and educational purposes only. If you want to invest in the stock market, you should make your own decisions and you should definitely consult with your financial advisors before you do so. Let's continue. This is the chart that I showed in my last video. You can see that in the last 22 years, indeed, the interest rates have been trending downwards. On this chart, I'm showing TYX, the 20-year Treasury Index, the red line and the middle line, candlestick chart, TNX, the 10-year Treasury Index, and the bottom line, the yellow line, FEX, the 5-year Treasury Index. They are more or less moving in step with each other. If you look into the details, you will see that the rates actually have been increasing in the last year and a half. Let's zoom into the last year. This is the picture, definitely especially in the last six months. The rates have been rising rather quickly. In the last 30 days from December 3rd to January 14th, definitely the rates have been rising. A recent news article from the New York Times said that the Fed officials have been talking about raising rates sooner and faster in 2022 and the central bankers are talking about raising the interest rate three times in 2022. Definitely we need to be prepared for that. The question is, where do we invest our money so that we can continue to make profits? I downloaded the data for the 10-year Treasury Index, TNX, for the last 22 years from 2000 to 2022, January 2022, that is. And then in this particular chart, I'm just listing the data for the Finance ETF XLF and the Semiconductor ETF SMH. Actually I included the ETFs of representative stocks for 12 different sectors. I'll show you those sectors in the next few minutes. And from the 22 years, I calculated the change from one year to the next. For example, from the year 2009 and 2010, the 10-year Treasury rate went up by 59%. And the Semiconductor ETF, it went up by 55% during that one year. And the Finance ETF XLF went up by 19% during that one year. As you can see, most of the years in the last 22 years have been seeing decrease in interest rates. However, I found three of those years that have increases in interest rates. They are 2009 to 2010, 2013 to 2014, and 2021 to 2022, from January to January, that is. And out of these three years, you can see that the Finance sector and the Semiconductor sector also went up. And that's why in my last video, I drew the conclusion that I would be investing in these two sectors when the rates continue to go up this year. For this study, I've included these 12 sectors. Finance sector, XLF, Semiconductor sector represented by ETF SMH, consumer discretionary sector represented by XLY, healthcare, utilities, consumer staples, technology sector, industrial sector, energy materials, real estate sector represented by the ETF VNQ and the communications sector. Ideally, I want to use XLC, but with XLC, it doesn't go all the way back to 2000. And that's why I use the top four stocks with an XLC to represent the communications sector. And they are Alphabet, AT&T, Comcast, and Verizon. And after I crunched through all the data, I found these percentage increases for these three years. 2010, that's 2009 to 2010, 2013 to 2014, and 2021 to 2022. I then rank these sectors for each of the three years. Here's what I have. For example, for 2010, the semiconductor sector ranked as number one. Consumer discretionary ranked as number five and finance number seven. Then I averaged the rankings for each sector. And then compared them, I found that the semiconductor sector is number one. Consumer discretionary is number two. And then finance number three. If you like what you've seen so far, I'd like to recommend that you click the like, subscribe, and notification button so that you'll be notified when I post my next video. It'll also encourage me to make more videos like this in the future. Let's continue. These are the top holdings in the three ETFs, representing the three sectors, semiconductor, sector, NVIDIA, Intel, Broadcom, QCom, Micron Technology, Texas Instrument, AMD, ASML. Consumer discretionary top holdings, Amazon, Tesla, McDonald's, Home Depot, Lowe's, Nike, Starbucks, Target, Finance, Berkshire Hathaway B, JP Morgan Chase, Bank of America, Wells Fargo, Morgan Stanley, Charles Schwab, Goldman Sachs, and Citibank. What are my strategies? First of all, I'd like to mention that the analysis is based on an assumption that the market is still rising overall, or at least going horizontally, when the interest rates are rising. Historically, there were times that when the interest rates were going up so fast that the stock market started to sink, and when that happens, I would switch to the crash protection strategies, which I cover in quite a few of my videos. You can find it in my YouTube channel. Basically, these strategies are for a generally bullish market, with interest rates rising gradually. I will invest in XLY, the consumer discretionary ETF, SMH, the semiconductor ETF, and I will buy the stocks of semiconductor companies with very strong cash flows, such as AMD and ASML, two of my favorite semiconductor stocks, and I will invest in XLF, the finance ETF, FAS, which is a triple finance ETF, and bank stocks. I will invest in SPY and QQQ in general, especially when the market is still bullish. I will probably invest in TMV, the ETF for 20-year trash re-rate. I will stay away from Gold, Silver, and Copper. I did not show those slides in this deck, but I covered the analysis of Gold, Silver, and Copper on my January 7th video on this topic. You might want to go back to that video and look it up. I will definitely stay away from meme stocks and stocks with poor cash flows. I will continue to be mindful of the broad market conditions, and I will update my Twitter subscribers daily. At this point, I would suggest that you also subscribe to my Twitter account, which is DanMarketL. For example, on December 30th, I tweeted that I bought FAS, the finance ETF, in anticipation of interest rate increase, and then on January 5th, I sold FAS because it started to drop. At that point, I already realized a 5.5% gain. Also I bought XLF previously, so XLF on the same day and realized a 2.5% gain. And then on January 7th, FAS started to rebound, so I bought more shares. Then on January 11th, I bought ASML shares. I explained that ASML dropped a lot on January 7th due to a fire in the Berlin factory, and the factory has reportedly resumed almost full normal operations. As usual, I will very much welcome your comments, questions, and suggestions. This wraps up my video for now. I will chat with you again in the next few days. In the meanwhile, I would like to wish you the very best of luck with your financial investments.


Greetings, friends at GEZ 2018. I'm Autry Tang, talents digital minister. I'm very happy to be here virtually to share with you some stories about social innovation in Taiwan. In the spirit of participation, I would like to ask you to enter this website on your phone, on the browser, slido.com. That's S-L-I-D-O.com. This website will ask you to enter an event code. Please enter 418. That's today's date. It's also my birthday. Once you're in, you can ask me anything. If you see a question from someone else that you would also want me to answer, you can like that question. I will answer the questions right after this talk, starting with the question with the highest number of likes. Unlike many people today, I'm an optimist. This strange condition began when I was 15 years old. That was 1996. I discovered that the future of human knowledge is on the web and my textbooks were all out of date. So I told my teachers, I want to quit school and start my education on the wild web. Surprisingly, the teachers all agreed with it. A year later, I founded a startup working on web technologies and I get to join this fabulous internet community that runs with this crazy idea and open multi-stakeholder political system that runs the internet still today. Today, as Taiwan's first digital minister, I'm putting into practice the ideas that I learned when I was 15 years old. Rough consensus, civic participation and radical transparency. Surprisingly, it's working and it's transforming our society. Two years ago, our president, Tsai Ing-wen, said an inspiring statement in her inauguration speech. She said before, democracy was a clash between two opposing values, but now democracy must become a conversation between many different values. Indeed, in conventional thinking, social benefits and business profits, for example, are often opposite forces and contradicted each other, forcing the government to make trade-offs. However, the idea of social innovation brings a brand new way of thinking. For people working on social innovation, the core objective may be achieved by developing business model to address social issues or environmental issues and the government's role has changed. Instead of being the arbiter, torn between different sides, we're now asking a different set of questions. We ask what are our common values despite different positions? And we ask, given the common values, can we find solutions that work for everyone? And this is the spirit of co-creation of social innovation. And civic technology, the branch of technology that enable millions of people to listen to each other instead of just one person to speak to millions of people, is a core ingredient to the social innovation. And indeed, in the past couple of years, Taiwan has been consistently ranked the top country internationally on open data, on internet participation, on women's digital access, digital inclusivity, et cetera. And all this was because we've been adopting open data crowdsourcing as the national direction since 2014. And this was catalyzed and epitomized of an occupied movement that year. There was a live demo for 22 days where we occupied the parliament and did a large deliberation that involved half a million people on the street and many more online. At the time, the MPs in Taiwan were refusing to deliberate a trade service agreement. And so the occupants got into parliament at night and stayed there. And for 22 days, there were over 20 NGOs participating and we deliberated line by line this agreement with the whole society. We supported this deliberation with a radically transparent broadcasting, live streaming logistic system, which we exported to Hong Kong later that same year and was powered by this community called GovZero. GovZero is a civic tech community with the call to fork the government. By fork, we mean we take the government website and services, which all ends in gov.tw and make better open alternatives and donate into the public domain that ends in g0v.tw. For example, the annual national budget is 100 pages long in the PDF file and it's very hard to read. And the GovZero community's very first project was budget.g0v.tw, which shows the national budget in a way that everybody understand and can drill down to each and every budget details. Today, the system is adopted by seven city governments and you can just get into the part of the budget that you care and engage in a real-time conversation with public service. And as of this month, we have also officially adopted the system to the project tracking system today in the central government joined the Gov.tw so one can merge back this contribution from the Gov.Zero community into the national government. So why are there so many severe hackers in Taiwan that at the time of Occupy said to my clients like Apple, Oxford University Press, saying, okay, we have to take a three-week leave because democracy needs me? I think it's because our generation, M37 today, we are the first, first generation that enjoy the freedom of speech after three decades of martial law and dictatorship. The freedom arrived in 1989, the year of personal computers. So for us, the personal computer revolution and freedom of speech occurred in the same year. Our first presidential election by popular vote in 1996 is also the year that the World Web got popular. So internet and democracy, they're not two things. It's one and the same thing in Taiwan. So for the past 30 years, when we see free software, we always think of freedom of assembly, freedom of speech, freedom from censorship, freedom from surveillance and never free of cost because we know that freedom is never free of cost. Our parents and grandparents generation paid the early for the freedom and we need to use the freedoms, the software freedoms to keep it free. And the movement caused a revolution at a peaceful one. There was a radical transformation of social expectations at the end of that year. And many occupiers found themselves elected mayors when they do not expect it. Because of this, there's a new premier at a time that says from now on crowdsourcing and open data, they're just going to be the national direction. And the civic tech people who supported the occupiers, such as yours truly, were then invited as mentors and advisors to the public service to solve new emerging social issues like Uber. Uber is very interesting because it is a innovation that is also a meme, a virus of the mind. At the time it's called sharing economy. And it says that algorithm code dispatch cost better than loss. So we don't have to obey loss. And the meme spread through apps from drivers to passengers to drivers, it's just like a flu. And you can't really argue with the meme, just like you can't argue with the flu because it's not the same category. So there's protests that taxi drivers surrounded the Ministry of Transport demanding negotiation. But how do we negotiate with the virus of the mind? For us, the solution is through a deliberation that involves thousands of stakeholders. And the idea is that thinking deeply about something together is a effective vaccine against PR, against virus of the mind. When everyone, passengers and drivers, academics and public servants listen to one another and form a consensus, we can collectively find our common values in a way forward. A proper deliberation with a focused conversation method involves four stages. The first stage is Fox, where we collect evidence, first on experience and objective data. And then after that is confirmed, we move to collect everybody's feelings about those in Fox. You may feel angry and I may feel happy and it's okay. So after people converge on their feelings that resonates with everybody, we talk about ideas. The best ideas are the one that address the most people's feelings. Then we translate those into legalese and sign them into law, into regulations. However, if the decision making process is not transparent, then people on the street will have a different set of facts and speak a different language than people in the policymaking process. So they're not even agreeing on basic facts, let alone each other's feelings. In that situation, ideas often become ideologies, an even more potent virus of the mind that they can blind people to new facts and to each other's feelings. So our first step is open data that's making all the facts available and ask the private sector and the civil society to share what they have. And next, we created an interactive survey using a AI dialogue system called PELIS to ask about how citizens feel. Four groups of people soon emerged, taxi drivers, Uber drivers, Uber passengers and other passengers. The PELIS system automatically shows each group how their shared sentiments are received by other people and other groups. And the interesting thing is, it lowers people's antagonism because you see all these people on different sides. They are your social media friends and you just didn't talk about this over dinner. So at the beginning, the people were on the different corners, pretty polarized, but because we say we give fighting power to anything that people can propose that convince the majority of all the different groups. So participants converge on feelings that resonate not only with like-minded people, but across the aisle. So instead of distracting people using only divisive statements and trolling as many social media is prone to, we use this new kind of AI power space to focus people's energy on consistent statements that resonates with people and people refine it until we get a set of feelings that resonates with practically everybody. Now it becomes easier then for the government to meet with all the stakeholders and check with them one by one. Here is the consensus of the people. Do you agree? If you do agree, how do we translate that into a new law? Because in a live stream environment, they're bound to the words that they said during the consultation. The stakeholders eventually agreed. When we ratified their agreements in August 2016, everybody know that it's coming. Everybody anticipated it and now Uber operates entirely legally under the new framework, but so did the taxi companies who are now adopting the same motive that Uber is using for dispatching its costs. So this method really works. And the next question is, can we scale this process of listening? Can we scale it out to reach more people? Can we scale it up to accommodate more people at the same topic? Can we scale it deeply so that it becomes a new culture of public service? So right after the ratification in 2016, I joined the cabinet as the digital minister to explore this possibility through PDIS, the public digital innovation space. We're like the policy labs in the UK where a digital service at a national level with designers, programmers, policy experts, we're automating away a lot of this chores that the public service are doing in order to make participation possible and fun. So it is a culture that we're bringing into the government. For example, I'm a radically transparent digital minister or the lobbyists or the journalists, everybody can get to ask me questions by only answer publicly. So if I get a question from private correspondents, I will reply and say, if it's okay to give my answers publicly, if they're not okay with it, then I will just paste them the link to where my previous statements on. And it also covers internal meetings for all of the hundreds of internal meetings that I have chaired since I was the minister, everything was transcribed and published to the internet. There was this written record for everything everybody said during the meetings and after 10 working days of collaborative editing would publish everything. The effect of this is very surprising. The bureaucracy actually becomes very innovative and risk-taking. They propose some very good ideas under this new condition. That's because previously, before I introduced this kind of radical transparency, the public service would get the blame if things goes wrong and the minister gets all the credit if something goes right. But with this completely accountable record, if things go right, well, they share the credit because the journalists will find the names on it. But because it's an experimental method, if things go wrong, it's all my fault. And so it becomes very innovative and people became open to a lot of interesting ideas such as adopting a startup entrepreneur standard toolkit of remote collaboration, like Sastorm, like Etherpad, Trello, like Slack, and all these free communication tools, we find their open source counterparts and install it using it in the public service. And we were able to find our cybersecurity department and a lot of Whitehead hackers to ensure the safety of the underlying sandbox system so that we're free from cybersecurity attacks and issues. So we have a lot of interesting systems just developed by young public servants like an app to order lunch together, to plan traveling together, whatever, and it's really good to have this choice. Based on this remote collaboration network, we have this E-Petition platform as a way for people to participate. To the public, it's like the We The People platform in the US. However, we did an improvement on it by focusing on cross-ministry issues. Whereas before, people would just get those very blank, beautiful answers that doesn't really solve their problem, but just explain why one single ministry can't do much about it. We sent a virtual team of at least one person per ministry, so about 50 people online. We assembled this virtual team of participation officers or POs, and they specialize in online and offline engagement. So now in Taiwan, when people started petition, they know that instead of just a beautiful written response, they can actually get to meet with all the relevant ministries in Taipei, or we will also travel to the rural areas and islands if they're petitioning for local development. So we solve a lot of very interesting problems like this without exposing any public servant to risk. For example, we have a petitioner, Las Main, who petitioned that for Mac users and Linux users, the national income tax filing software is explosively unfriendly to use. And so instead of just explaining the problem, we invite all the people who complain the loudest and to co-create the new tax filing system this year. And through this kind of co-creation, people in the public learn that they can contribute their expertise, not just as complaints, but as co-creation efforts. And this is the way we're collaborating with the civic sector through participation officers. We're building a robust environment suitable for social innovations to grow, where the power of civil society could be brought into the national stage in full play. And the venue where we hold these collaboration meetings, the Social Innovation Lab is also itself a product of co-creation. More than 100 social entrepreneurs were invited at the inauguration of this space to communicate their conceptions and expectations. As such, we achieve a blended consensus and created a space that morphs to fulfill everyone's purposes. For example, it stays open until the midnight, until 11 p.m. and so do the cafe and kitchen. And the resident chef to connect everybody through food was also arranged by popular demand. Moreover, I personally provide a mentorship office hour at the lab every Wednesday from 10 a.m. to 10 p.m. As long as my visitors agree to have our conversation posted online, anyone interested in social innovation is welcome to have a discussion with me. And the different regional cities, social enterprises and the innovators are also able to leverage this facility by joining me in a bi-weekly regional talk. In this regional round table, as you can see here, people gather around me and I bring the live streaming equipment so that more than 12 different ministries in Taipei also join in this virtual connected room so that all the related ministries are there and can quickly resolve issues brought up by the regional social innovators. And once the people in Taipei solve it, the other ministries then also understand okay, so this problem is to be resolved in this kind of way thereby providing a virtual team that is cross ministry and can respond quickly to any issues. For example, the Gavzero Air Pollution Observation Network is such a grassroots movement that gained national spotlight. By combining the diversified talents in the civil society in the academia and private sector and the public sector, this project utilized this air quality sensor Airbox which is becoming very popular. It applied those IoT sensors in a sense of fusion fashion so that all the interested people can acquire with very little expense any real-time air quality information of their local schools, balconies or even in the office. So little by little and bit by bit more than 2,000 contributors accumulated a massive database which is closer to the air quality in actual places where people are active. An exceptional advantage of Taiwan is the full support is the rejection of the government. As soon as we learn about this effort, we allocated a forward-looking infrastructure plan that allocates more than $5 billion NT dollars with a four-year budget for the IoT for public good. So it starts with air pollution, but also meteorology, water resources, earthquake, disaster relief, all those massive amount of data are integrated into the high-speed computing environment so that we can collaboratively compare the models of the academics and discover the correlations between social activities and environmental phenomena in real time. We're also working with the private sector and the Industrial Technology Research Institute to assist with the manufacture of domestic, affordable, high-quality sensors so that communities can yield data of a higher accuracy. And why does Taiwan government encourage such social innovation? Because currently there's many misunderstanding between government and the people due to lack of transparency. Establishing an effective dialogue about public policy is difficult until the source of daily air pollution are disclosed to the whole society in a trustworthy fashion. So we also distribute to the ledger to store this information so that we are very proud that AirBond's related products and services has been introduced to all over the world by uniting the strengths of both the government and the public. Taiwan proved to be capable of not only solving our own social problems, but also providing such solutions to other countries in similar situations as a reference. Moreover, we have a sandbox law design so that if you experiment in FinTech, in AI, in autonomous driving or vehicles, you can apply for a systematic experimentation for six months to 12 months to up to four years and you can get to break the law during the experimentation period. But the law is meant to be broken in a way that achieves the common good for the society so that during the experiments we will assemble a multi-stakeholder panel that lets people to experiment with this new technology for six months and collectively decide using civic tech consensus gathering methods whether the society thinks this technology is good for society moving forward or is a really bad idea. If it's a good idea, then the regulators and the laws gets changed because of social innovators. And if it's not a good idea, well, at least the risk is cut and it paid the tuition for everybody else so that we can try a different model the next time. And through this way, Taiwan realizes our duty and our responsibility to the international community by developing and focusing not on only just one or two sustainable development goals but concurrently on all the sustainable development goals and focus on SDG 17s which is cross-sectoral, international and cross-discipline collaboration. The idea of developing this kind of collaboration technology is that voting like two bits per four years is a very low bandwidth communication. It's very easy, everybody can do it but there's just not much bits of information. On the other hand, hecticism like occupying the parliament is very expensive and we can't do this for every major public decision. So we need to build a ladder of expertise by sharing more real-time open data by having interactive public Q&A forums by setting up binding, petitioning and discussion processes and by bringing the technology to people instead of asking disadvantaged people to use new technology. We're building a deliberation system that takes care of proper access as human rights that scales to all the levels of the society. And through this, we're building a unified democracy not hijacked by ideologies and efficient democracy that responds to the demands of the society and the empathetic democracy that lets people take care of each other's feelings. And we do this by listening and building civic technologies that help us listen to one another. So let's all keep listening to each other and I welcome you to join us in Taiwan for the 2018 GEC Plus. We welcome friends from all over the world to participate and join us with the spirit of sharing a collaboration with an open attitude and a collaborative approach combined with the power of innovation we can meet the sustainable development goals together. So thank you for listening and let's now take some questions.