The Tom O'Brien Show is produced every business day. Tom takes your phone calls toll free at 1-877-927-6648 internationally at<PHONE_NUMBER>. Let's go to Phil in Puerto Rico. Hey, Phil, what's going on? Hey, Tom, doing great. Just wanted to thank you guys and the whole crew. Best content on the internet. Really appreciate everything you guys are doing. We appreciate you growling a problem with us out here. Phil, how did you find us? I just typed in live trading in YouTube one morning. Cool. I was looking for any type of live trading room.  Awesome. I know the quality when I see it, or at least I like to think so.  I appreciate everything you guys do. Welcome to the Tiger family. We appreciate you growling a problem with us. Oh, my pleasure. Now, Tom O'Brien. Welcome, folks. This is Tom O'Brien of TFNN. We go five days a week. We go seven hours a day. We go 24 hours a day on the internet at TFNN.com. Always remember, folks, whatever you think about, you bring about whatever you focus on grows. Hope everyone's having a great day. Safety. Let's make a great night, folks. August 25th. Pretty wild. To master love, you have to practice love. The outer relationship is a whole mastery. And the only way to reach mastery is with practice. To master relationship is therefore about action. It is not about attaining knowledge. Mockin' wise! Let's take a look at it out here. We have the Dow Industries up 62. NASDAQ up 24. S&Ps up 11 and a half. Gold contract down $14.60. Trading at $17.93. Silver, flat $23.90. Lightsweak crude up a buck $68.54. A barrel notes and bonds. The 10-year note down 13.6. Trading $133.18. The 30-year off a full point plus five ticks. At $163.28. And Kingdoll. Kingdoll, it gave it up on price again. Pretty amazing, man. Kingdoll had little bonds going and just couldn't handle it. Down 53 ticks. $92.89. And now I get two voices. Thanks, man. Appreciate it. The yen. Yen at $108.98. British pound at $137. And the Euro at $117.01. U.S. dollar. iPhone numbers<PHONE_NUMBER>. Give us a call, folks. Want to know what's going on in your world. In the world of the S&Ps, let's take a look at them. What do you have? We take a look at the spy out here. You can have a higher price and we get lower volume. Oh, my God. Yep, it is what it is. So the bottom line is that, you know, when we take a look at this baby, Monday you had volume out here of $54 million. Yesterday $38 million. We'll see whether they can make $38 today or at $23 right now. And the X100, we take a look at the NDX100. It's the same setup inside the NDX. NDX had a huge contraction of volume yesterday. And let's see what we have going out here today. If we take a look at this, I don't know how that always happens. We take a look at the cues once again. And oh, man, it's a contraction of volume again. This is pretty hard to contract this much in the cues. So watch this, folks. $34 million Monday. $21 yesterday. And we may do $20 today or it's $14.8. But that's pretty intense, folks, okay? Meaning that when you don't have buyers, you know, the most of the time what ends up happens is sellers can come into that inside the marketplace and, you know, drive it lower. Well, the bottom line is we don't have sellers either. The gold contract. Gold contract is an ABC structure on the way up. This doesn't negate it when a pullback today. It was pulling back today. You pull back, we got $100, and this is pretty cool, actually. Watch this. So you pull down to $18.74. You rejected lower price out here. You're pulling into $156,000 contracts. You've done $157,000. And you didn't even get to the bottom of the range with the $17.78. We got out to the price point here of $17.84. And that's going to be all about the good old U.S. dollar. So if we get over to the dollar and we take a look at the dollar, what you have is that this is a big give up on the dollar, man. This is pretty cool coming into the weekend. Well, we're not the weekend yet, but coming into Thursday and Friday, particularly because you get Powell out here Friday morning. And so the dollar did out here today. The dollar got to $93.126, and we're at $92.840. You do one more day like we had on Monday, and that whole uptrend is broken. So pretty wild. Now let's go to the note and bond market because the note and bond market did pull back yesterday with volume, and we got volume today. So the note and bond market is nervous right now. This is big volume, too, man. This is interesting. This is 2.7 million contracts, folks. They're moving this out, man. So we'll see what happens. We've seen this a couple of times before that you did get the monster volume, but yet this was the replay of the last time, and we didn't break the swing on the deal. So we'll see how this baby shakes out, but right now that's big volume, and that's saying it is going after the swing of $133.09, and right now you're at $133.17. We go into the 30-year. We take a look at the 30-year right now. US, U. No, US, Z. Now let's see if U. Now the U is still happening. This is double the amount of volume also. You get 683,000 contracts traded, and that's monster volume also. So we're moving down with some volume. We'll see whether it's going to go to the bottom of the range. Some of the higher volume equities out here in a very low volume market is that you have, let's see, Pfizer's down a buck. You get Nordstrom down $6.5. Micron is up $2.45. You get Nvidia up $4.50. Let's see, DraftKings is up $3.00. You have Dick Sporting Goods. What a monster that is, man. They come out with numbers, monster numbers, up $15.72. Let's go to Nvidia. It looks like Nvidia, you know, split. This thing, you talk about a monster, man. Holy cow. This is pretty amazing. So now we're trading at 222. This baby here, we'll see how much higher it wants to go. This has been quite a run though. There's no doubt about it. In fact, if we go back, look at that.  Now, Nvidia, the next time they come out with their numbers, it's going to be November 18th. They are going to be looking to do $6.8 billion. And so check this out, folks. This is how dramatic Nvidia is. Nvidia is going to be doing $6.8 billion in 90 days. And that's what it used to do in 352 days five years ago. That's about as much growth as you would all love to see that. Now, that being said, they're still growing. Well, they're growing in the United States by 12% a year. They're growing in the rest of the world by 5%, 5.5% a year. So you're talking monster numbers, period. And it's like, isn't that number amazing then? That is just absolutely amazing. Can you imagine that you own a company, you have a company that you're doing $6.9 billion a year, and now all of a sudden you're doing $6.8 billion in 90 days? That is one big dog. There's no doubt about that. XAU HUI. Let's go take a look at the XAU and the HUI out here inside the gold market. Inside the XAU, right now, you're down to $1.75. You're already rejected below $128. You're at $130.27 right now. And we take a look at the gold bugs index. I mean, it's going to be interesting here. It's real possible that the XAU and the HUI just set up a small ABC structure on the way up. In fact, let's go to look at the GDX and we'll be able to get an idea. Yeah, it's good, man. The GDX, you're down on $14 million. You're up on that $34 million. So you're talking a huge amount. Now I can't hear the music out. Stay right there, folks, we're coming right back. Having fun trading the markets, but having trouble finding like-minded individuals to discuss your trading and investment ideas with? 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This segment is brought to you by Think or Swim. For more information, just click the Think or Swim banner on the front page of tfnn.com. Welcome back, folks. I doubt that one just shows right now. Before you get to Nasdaq, up 19 S&Ps are up by nine and a half. Let's go over to Silvermark and take a look at Silver, because this is kind of intriguing on the Silver market. What you have out here is that Silver traded down to $23.59, rejected lower price out here, and this is when the dollar was up higher. Yeah, this is good, man. Silver's, there's a lot of contracts on Silver for pushing into a swing point. So you have contract volume of $52,000. You're going into $52,000. That's a good number, man. That's saying that Silver wants to break topside. This is pretty cool watching this whole thing shake out, because when you have the dollar, so let's look at the dollar for a second. The dollar intraday. Yeah, so it's not giving it up at, well, right from the get, right from 9.30? Yeah, actually it's not giving it up by 9.30. Okay, so let's see. GBR, take a look at a few stocks for some of these taggers and taggers out here. So this is new concept energy. Explore, produces non-conventional energy resources. The company acquires and develops mineral property leases of natural gas. Okay, so it's natural gas and the lows are buck, the highs 30, and the bottom line is that they don't take on any money. This is 26,000 a quarter. See, these always blow my mind when you have a market cap, believe it, 19 million, and you take in 25,000 bucks. I mean, think about this. This tag isn't tiger, so they were taking 19,000 bucks in a day. I mean, it's like, really? Anyway, let's take a look at this thing, man. So, yeah, I mean, there's nothing here. I don't know, bottom line is if you're buying something like this, you know, it's a pump and dump. That's the real bottom line. That's the way it looks to me. You have two employees, forget it, that's the real bottom line. HG, let's go take a look at the copper market out here. What we have with copper, copper is at 427 right now. This little baby came off the lows at the lower end of its consolidation. You're back in the range. Yeah, I mean, bottom line, this is saying copper wants to get up to 458. Let's go over and we'll take a look at Southern Copper first, one of the big copper equities. So that came off the lows. You did volume yesterday of 1.2. You're backing down at 374. That's a decent setup. That's saying that that's building costs for higher price also. No doubt about it. If we go take a look at the Russell 2000. So, Russell 2000 out here, right now trading at 2247. And the Russell, this is what's so cool about the Russell. Now, this is what's really wild, too. But if you actually do look at the aspect of all these different indices, you're going to see that the Russell did exactly, bottom line went down to the end of its consolidation. It rejected lower price, had tremendously lighter volume, now wants higher price. Russell's going to try to basically break this 2256. That's how it looks. And let me go over to the IWM, which is the Russell, but it's ETF structure for it. And we look at the IWM, it's going to need more volume to break that top. But the bottom line is that that's, look at how fast it went there, man. It's pretty amazing. The Russell on Thursday was at 230. I mean at 210, you're 223 right now. And if, in fact, the material stocks are going to go higher, what we will do is that you'll see the Russell go higher. There's no doubt about it. Okay, so I got a question. How much of the major indices need to pull back to call it a failure on price? What happens is this, a failure on price goes like this, okay? That you get over high, you close under high, and you have lighter volume. That's a failure on price. That's how that would work. That I think the question may be on these indices. These indices, folks, have gone so far, so long with no volume. There'll be a pullback. There will be a pullback. And when there's a pullback, my take on this pullback is that we will get, like the Qs will get down to this 353. That's where my head's at. Because what we got is this, the first time down, going all the way back to the 19th of July, you got down into this 352. Next time, you got 360. That has volume. Next time, which was just last Thursday, we got to 359 and you rejected the price. Each one of those still have volume out there though. So when you do something like this, meaning price and volume, what you're looking for is that you say, okay, where is the most amount of volume? Because that's when you take the supply and demand, put it together and say, okay, listen, man, this is where people are willing to sell down to, this is where people are willing to buy. And what has happened is that there's no doubt that the fastness of people buying the dip is just immediate. I mean, it's immediate. There's no doubt. And it will stay immediate, by the way, until there's a real pullback. And then after that, it'll take a bit, because if we get like a 12 or 14% pullback, I'm talking about the indices now, there'll be some problems on the next one. Because what we've had is this. We've had these little tiny pullbacks, but you have had a few of the largest stocks pullback pretty good. I mean, if we look at Amazon, you're going to see, this is a decent pullback. What that Amazon had done, we bottom line, you went from the price point of what, $3,700 down to $3,100, $600. So that was a decent pullback. I don't think Amazon's done going down myself. I think we're either going to test like the 3,009. The 3,009 is the highs of the lows that were generated out here, much of 2021. That's where they're set up. And that wouldn't be a no big deal either. That's the other side of it. I mean, that would mean a thing. Next time the Amazon's coming out with numbers, it's going to be on the 29th of October. And what you're going to get then, so that quarter, they're looking to do $112 billion. But guess what? What's going to happen on the next quarter after that? That's the Christmas quarter. And bottom line, they're going to be looking to do $142 billion. So you're going to be marching up to the place where they basically have their best quarter. So you can see in the context of how long you get for a correction, not long. Dow Industries right now, up 44, and as except 24, S&Ps up 10 and a half. Stay right there, folks. Come right back. Are you having fun trading the markets, but having trouble finding like-minded individuals to discuss your trading and investment ideas with? Become an Apex predator in the trading markets and join the Tiger's Den Trading Room only at TFNN.com. The Tiger's Den is an exclusive trading room where successful traders from around the world come to exchange trades and ideas. Join the den and surround yourself with the sharpest minds in the trading world. Subscribers to the Tiger's Den are also the first to have their questions answered live on air and can privately chat with our TFNN hosts live during their shows. Interact with other Tigers and Tigers as they share trading ideas, news analysis, and discuss the market action all trading day. Subscribe to the Tiger's Den risk-free with our 30-day Money Back Guarantee and become part of the TFNN trading community. TFNN Educating Investors Go to TFNN.com and find the newsletter for you. Whether you're into trading gold, metals, futures, currencies, or options, you'll get advice and analysis to help you seriously get ahead. TFNN also features trading services with a 30-day Money Back Guarantee for new subscribers as well as TFNN's Tiger Den Trading Room, Trading Software, and Educational Webinars for all trading levels. And make sure you check out Tiger TV for free on TFNN.com or TFNN's YouTube channel for live financial content from 8.30 a.m. to 4.00 p.m. Eastern on market days.  TFNN Educating Investors Your Ultimate Trading Mastery System David White has programmed an outstanding piece of software that will complement any trader's methodology. Using this first-of-its-kind program, the art of timing the trade charts allows you to scan thousands of stocks for Fibonacci formation setups, including guardleafs, ABCs, butterflies, and much more. The art of timing the trade charts is designed to help you when scouring the markets for stocks just beginning to form the trading patterns that many investors spend days, weeks, or even months searching to find. And right now we're offering licenses available at only $79 a month. We are so confident that you're going to love this new charting software that will even give you a 30-day unconditional money-back guarantee. Don't miss out on this incredible new piece of software. Get your copy of the art of timing the trade charts today by visiting TFNN.com. Think or Swim Banner on the front page of TFNN.com Welcome back, folks. Dow. Dow Industries right now at 49, you get the NASDAQ up 28, S&Ps are up 10.5. Let's go inside the Dow. Industries, take a look at the strength versus the weakness inside the Dow. So point-wise out here, we have you have Goldman Sachs leading the charge out here inside the Dow that's putting 34 positive points. American Express 33, JP Morgan 21, taken away from it. UnitedHealth 23, Amgen 16, Visa 8, Johnson & Johnson 8. Not bad. Well, these biotechs move around quite a bit anyway. Bottom line is that we got SAVA today. This is taking a hammer and there's no doubt about it. Now the low for the year, if you want to see something that's really wild, folks, the low for the year and this is $2.78, the high is $146. What is going on out here today is that you have a high volume low that it's going to go after anyway, which is $65. If you want to see something how you can have a huge counter trend bounce, you come off the high with $146 and two days you go from $146 down to $65. It takes only 10 more trading days to go from $65 to $126 and then bottom line, basically yesterday you were trying to get into the $123 with $5 million versus the $6 million. What you had out here this morning is that you had an attorney that bottom line goes after just about everything with class action cases, basically come after them. That's the bottom line. My take is that it's going to test $66 anyway. Folks have been listening long enough. When you get a high volume low like this, you've got to test it. There can be a million different reasons why you get it tested. You get it tested and I expect that's going to get tested. You need a big stomach for that equity. There's no doubt about it. We're going to take a look at Microsoft. Let's see what good old Microsoft. Microsoft has been driving the NDX100. There's no doubt about that. Microsoft's not done yet, man. Microsoft, you pull back with 74 cents today. There are 13 million shares. We went top side with 40 million. It's a big number, man. There's no doubt about that. Let's go take a look at Newcore. If you take a look at Newcore out here, Newcore's pulling back today. Still a nice ABC structure on the way up. This is all about the infrastructure bill. Hit 125. You're pulling back with light volume. I suspect we'll get to the bottom of the range, which is 115, but that's something to keep your eye on as is Caterpillar. Caterpillar folks, dear, they're going to be in a very sweet spot when this infrastructure bill gets done. Now, the bottom line is that it's not going to be like the infrastructure bill gets done and all of a sudden, you know, these things are going to go to the moon. They're going to get a substantial amount of money, though, over the next three or four years. There may be more than that. So these are the ones you want to get on your radar. If we take a look at this technically right now, we have, so Caterpillar technically, once it got to this 199, which it did, did it on light of all, which is good. This is the classic, man. This is pretty cool. They're going to have to build cars for a while to get by the damage that was done on the way down because there's two days on the way down. It went from 244 to 220. Next day went to 205. It'll take a bit, but I suspect that's actually going to get done. Let me just look at, I was looking at another one, the smaller that no one ever talks about actually. Oh, man, what's the name of this? T-E-R-X? It might have been. Yeah, it's T-E-X, I think. Let me look at this one. T-E-X. Yeah, this is popping up. Yeah, this one here. Okay, so Lowe's 18, the high's 55. They're manufactured, okay, global manufacturer of lifting material processing products, including construction, manufacturing, transportation, refinery, energy. This equity here to get this on your radar, because what's going to happen is that this little number will get some action also, meaning some decent business when this goes through. Right now, it's had quite a run, man. It's gone from $12 to $50. How long is that? Well, that's two years. At this particular point, you're at $51, like $47. $47 would be a decent place to go. Micron, let's go take a look at Micron technology. The Lowe's are 43, the high's 96, you're trading 74, 22. Okay, so this has had quite a pullback. Look at this, huh? This is a little dangerous. This is a tough one. So check it out. The reason I say it's a little dangerous is this. So when we take a look at the weekly, two weeks ago, this thing went south $82 to 66 with volume. That is, let's see if we look at this. No, it's not going to be an ABC up, because a down rather, because what happened is that, let me just do the math on this for a second. 85, 83, no. It's not going to be an ABC down. And the reason being is this, is that it did more than a .618 retracement of the move down when it did its counter-trend bounce about four weeks ago. That being said, that I suspect what you're going to see out here is that 68 wants to get hit again. That's how it looks to me. Let me put this on the daily. Yeah, that's how I'd look at that, baby, that this $68.81 is going to get basically hit again. If we take a look at this in revenue-wise, next time they're coming out with numbers, September 29th, revenue-wise $8.2 billion top line, $2.33 to the bottom line. That's a good bottom line, man. That's definitely a good bottom line. And they, internationally, they're not growing at all. In the United States, evidently, whatever, whoever customers this is in the United States, they're buying a lot. There's no two ways about that. Running, what, 15, 35, 17, they're growing by 17% per year. That is one monster number, folks. No doubt about that, 17% per year. Let's go take a look at, let's go take a look at a few of the gold equities out here. We'll start with an Eco Eagle AEM. Oh, no, first I want to start with the GDX, because when you look at the GDX, all of us own all different equities. The GDX is a good one to look at. So the GDX wants higher price. The GDX, we want higher with volume on Wednesday, $34 million. Pullback today with $15 million. That's telling me we want higher price. Okay, so now let's go over to AEM. Take a look at AEM. Same set up in AEM, higher with volume, pulling back with light volume. And that Newmont was and probably still is one of the weaker ones, but look at Newmonts is all right too. This is interesting, man. Newmont went up at $5.2 million back on $2.5 million. That's what you're looking for, man. That's the real bottom line. Dow. Dow industrials right now trading up $68, Nasdaq up $32. Excuse me, folks. S&P's up $13. Stay right there, folks. Come right back. Are you in the market for buying or selling real estate in the Bay Area, including the surrounding St. Petersburg, Tampa and Clearwater markets? Tiger Real Estate LLC is a firm that has extensive experience in the Tampa Bay Area. Whether you're looking to sell your current property for maximum value or you're in the market for a second home or investment property, Tiger Realty has the experience across all areas of real estate in the Tampa Bay Area to help buyers and sellers make the most informed decisions across all price levels. 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You get the NASDAQ up 30, S&Ps are up 13. And folks, last night, yesterday we had the Merrill race in St. Pete, City Councilor in St. Pete. Bottom line is that we have a couple, the first two and the Merrill race folks end up going in November. And those winners were Ken and Welsh and Robert Blackmon. They will be going at each other. And then the bottom line is that we'll see who ends up being the mayor. But right now it's really cool we got Marcio Powers. Marcio ran for being a Merrill candidate. We want to see how she's feeling today. We want to know what she would have done if she's going to be the mayor. Marcio, welcome to TFNN. Hi, thank you for having me on. I appreciate it. Absolutely. So first off, what do you think about Ken Welsh and Robert Blackmon? I think they're both nice guys. I see advantages and disadvantages in both camps, but I'm interested in seeing how the next few months play out. So let me ask you, what do you think has to be done in St. Pete for a better city? Well, we have to get control of the sewage system. That's definitely a big problem. That's a fact. We have to look at how we're treating our COVID patients and talk to medical personnel and ask them if there's any extra support or buildings that they need to spread people out so we don't end up creating more of a contagion or allowing the virus to, you know, mutate because of the high numbers on hospital floors. So you're talking about the hospitals? Yeah, there's a heavy concentration in our hospitals. One person, she's pregnant.  What's happening here, folks, is four out of 10 people are walking in to the hospital have COVID. So it's pretty intense. There's no doubt about that. I look with your platform and included, let's talk affordable housing here. Talk to me about affordable housing. Well, I'd really like to see the city invest in housing directly and pay for the construction and then manage the renting of the units. And then citizens would have more control gauging those prices. And then that might take the independent market, rental market down because the city will have more, more flat rate on rental prices. Sure. You know, it's amazing. So pitch this. I've been down here for 25 years in St. Pete, okay? But I'm from Boston. And what ends up happening in every major city, you always hear the exact same thing. Housing, housing, housing. What blows my mind every time, Marcio, is that in every downdraft in real estate, the city could have bought the whole city. Anyone could have come in. In fact, I know for a fact, Habitat for Humanity was actually selling lots instead of buying lots when they should have been. So what do you do about something like that? I mean, people complain about it when it's high. But guess what? You live here. There's plenty of time to, you knew everything was for nothing. So why didn't someone do so? I don't know. Yep. I mean, there were certain families that did things and invested smart. I I don't know how our governments really operate. They don't go into business skills, like thinking like a private individual.  It's almost like to me, they're just like giving away land for free for people to develop it when the land has a really high value. And as a private citizen, if I own that land lot, there's no way I'd let it go for those prices, you know? So what you're saying is, I mean, because the only land that the city has given away to is a non-profit. So you're saying that the non-profits should pay more money? I think when they they bring in a developer to develop the land and they buy out the land, they buy it for way cheaper than what market value would be. Well, no, no, that's not happening. I mean, right here right now, any type of land that's going, I mean, they get appraisals for it. Well, I just give you an idea. I mean, where the new hospital is supposed to go with the insurance company, that's a $5 million deal, but that's not going to go through until it goes out to the public. Right. All right. Yeah, that's true. Because out to the public, they kind of divvied up for you and me. That's true. I can see that, yeah. But there are a lot of incentives for developers to build affordable housing, true. So outside of the affordable housing, okay, small business. Let's talk about small business. I know you said the bars, is someone trying to shut down the bars at midnight around here or something? No, that was earlier in COVID. That was like months ago when I was talking about it. People and actually got with a bunch of restaurant, I think that's what inspired him to enter the race, is because for a minute, Christman was talking about that, but there was heavy backlash on that. For a minute, they wanted to close down the bars at midnight, but you know, the restaurants all struck back on that and it became like a big issue and they quieted down about it. They were trying to close them down at midnight to stop the spread of COVID. Right, right. So what do you think the, what should be one of the first things that whoever wins this race, which is Ken Welch or Robert Blackman, what do you think they should do? Imagine Ken's going to win the race. And why do you imagine Ken's going to win the race? He has such a, he got 40% of the vote already. And so just looking at projections down the road, I think Ken's going to. So let me ask you something about that, because that's intriguing. Because I know when I read your, the bio, you have a big concern about South St. Pete and Ken Welch has been a commissioner for 15 years and South St. Pete hasn't changed. Yeah, I hear that a lot from South St. Pete too. Yeah. I mean, there's that whole aspect of it and there's, I don't know. I don't really know what Blackman's proactive solution for South St. Pete would be. I would like to see that, you know. What do you think the solution is? I think the solution is to take the money that's allowed it to improve South St. Pete and to put it directly into the hands of community leaders down there on the South side. And when you say community leaders, who specifically? Well, I know, they're running the market down there on Sundays, Ramona, she does a good job. There's, I don't know, there's like Corey Givens. There's a lot of good community leaders down there on the South side that would, I think you'd have to talk to people and get more of a basis on like, okay, what has been your barrier of accessing services? Why aren't you like going to close to kids?  And why aren't you reaching out for services? Because a lot of times they feel like, you know, someone has, there's like gatekeepers that they don't feel comfortable going to. Yes, I see. Well, listen, it's a pleasure. Well, before you go, I wanted to plug my husband's, I see you guys are investors. So we have Kenwood Organic Protein. Good. Say that again. I'm sorry. We have Kenwood Organic Protein, which is our Proteus Delivery Service, but we're working on building an app that will be like local Topia. Okay. Put on the computer with like an avatar so you can go to local booths. It's called Magic Carpet. So if you guys have any small businesses, local to St. Peter's Park, that would be interesting. Okay, well, dude, thanks so much. Stay right there, folks. Come right back. Sharpening your skills as an investor is like getting better at playing a musical instrument. You have to practice, sure, but you also need excellent instruction from experts. 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That's why we need Primal Edge daily nutrition. It includes a special blend of ionic, soil-based vitamins, minerals, fatty and amino acids in an easy to use liquid form. Primal Edge is powered by highly concentrated humic and fulvic acids. Nature's preferred delivery system. They've been called miracle molecules because, like sunlight, air, and water, without them life cannot exist. That's right Ellen, they ensure we receive all the nutrition we need to be healthy and thrive. We take it every morning. Primal Edge, just $89 exclusively at TFNN.com. Don't forget, you can listen to TFNN live on your mobile device 24 hours per day. Go to TFNN.com and hit Watch Tiger TV. That's TFNN.com and hit Watch Tiger TV. Welcome back folks, Dow. Dow Industries right now up 60, you get the Nasdaq up 27. S&Ps are up 12.5 and these prices are going to stick folks, that's the bottom line. Now what's going to be easy, well it's going to be wild actually, is we're coming into Thursday, Friday, Friday 10 o'clock in the morning, Powell starts talking. His paper will release probably 15 minutes ahead of it. It's the paper that will move the market at the beginning folks, that's the real bottom line, as Dow shakes out. My take on this is that, listen man, not much has changed. What is intriguing here though is this, is that that bond market right now is coming down with volume. Now the last time this happened, actually the last time, not the time before that, but the time before that, both, so three times ago, I'm talking about just any type of pullback. We came down on volume in the bond market, didn't break a swing point. Last time, the bottom line you pulled back, it didn't have the volume. This time we had the volume again and it hasn't broke a swing again. If you don't break that swing folks, the bottom line you're still going to want higher price, that's what's so wild about this thing. And we're not, we could certainly break the swings, but we're above the swings right now. And if we take a look at this 10-year one more time, it looks like the 10-year actually wants to reject lower price because it had every reason that it could go after the swing because it was right next to it, $133.09, it made $133.17. My take is that it's going to make that number tomorrow. We'll see how that basically shakes out. After the close, I believe we get, and thanks Jeff for that, we get Salesforce coming out with numbers, yeah, $8.25. And Salesforce, CRM, they're going to be looking for a top line out here, $6.2 billion, the bottom line, $0.92. So this is going to be an up quarter for them and we'll see where it shakes out. Last time they come out, well, when they got the downdraft in Salesforce, what that was all about was them buying another company. That's the real bottom line. Salesforce has a high volume high. Salesforce wants to go for a tie out here. Always remember folks, the bear can claw your heart out, the bull can run you over and thank God there's always another trade. Health, happiness, and prosperity. Have a great night, folks. Have a safe night. Please tell your friends about TFNN, ask them to go to YouTube, search TFNN, subscribe, come visit Tommy tomorrow morning, catch you off 9 o'clock in the morning, great show. We'll get them folks. Building wealth.


I'm Drogon he falls on Instagram Twitter for more juicy content Like button today we got a video this is Sachin Tendukler's 11 greatest and most iconic sixes and rare bonus clip of a huge You could have a bonus clip of a huge six you could have just made it 12 greatest most I know You could have just made it 12 That's weird So anyways, so these are the big bangers the home run of cricket world video view Today not yesterday not tomorrow yesterday I went skinny dipping in the bay Never miss an update I just subscribe. Sorry. That was controlled Sachin versus Dale Stein Who's gonna win? Sachin What an iconic was that an iconic one or a big one?  I've never hit a four I've hit at least three. Have you? Oh, dang heck of a matchup. No kidding Wow and he started before the release Yeah, his his like come up watch. Yep He was already where it's headed. He was already he knew where that was gonna go That's quite insane. I muted it because wow This was very loud Sorry, this one's this is a really loud clip. So I just decided to mute it for now Wow, he skipped into that same thing man He just you like serving up wrong meat to a lion. Was he throwing up gang signs? What's this sign for six is it just holding him six fingers? There's no one.   Yeah How else would he hit the ball Guarantee an Indians climbing up that roof and get that ball Yeah, I was like, there's no way they're going to let that stay up there Whoa, what makes that one more iconic than the others With and such into lulka has cashed in on it big time No, that's just number one The extra ones about to happen Here we go the bonus I could have just made a 12 That's a big one He must be getting ready for dinner Sartin tindalka It's gonna have some uh Must be more curry for dinner Heat up the rice and all because he's done He hit it to the moon I just don't understand why you just didn't include uh Oh, it left the park Did it go did it? Yeah, it left the park it went over the roof You could die You could you could absolutely I I just don't under it is all obviously at the sixes But why didn't you just make it 12? I don't know It's a much like this is a really long Plus a huge huge six not just a huge rare bonus clip rare bonus clip of a huge huge six Why what makes I'm guessing a Iconic child would obviously be if if they didn't left the park. That's a big one obviously at least in baseball, right? But yeah, that didn't happen very probably also win in the game It was of course doesn't matter if it's in the first inning and no one's on a basin It's a walk-off home run right in the ninth top of the ninth Yeah bottom bottom I guess it depends on which team you're in Well, you can't walk off unless it's in the bottom You cannot walk off at the top of an inning you could no the forfeit, but You could no one's stopping you That would be so great Visiting team hit a home run to take the lead and they just all celebrate and walk off the field So walk off home run They're walking away. They're going Is an inning to be like Anyways, that was great. Let us know why a one hit would be iconic More iconic than the rest and what is it because it's the rare bonus clip and why two huges A huge huge isn't huge enough. What's the difference between a huge huge six and a huge six? Pull down your pants and I'll show you. Yeah I should do a huge girthy very It's six cubed It's six cubed six in length answer conference It's a veritable salami Anyways, let us know. Uh, what are the creek of jiu-jitsu and otherwise we can react to down below


It's a pleasure to be here and it's great to support the open source community. I would like to share a few slides and take you through a little bit of background on the company. You know, we are new in starting our journey here. We signed on this year in 2022 as a premium member in the elephant project. And we're excited to be part of that. We have done a lot of work recently in our business to think about the edge and our main motivation is really to accelerate the edge infrastructure. And particularly, you know, as we get into 5G that becomes even more critical as we've seen from your discussion earlier, as well as Andre's presentation here how important, you know, the transformation that's occurring at the network into a software defined platform and the leverage of open source. Frankly, some of the security issues to play a key role. And as an end user, we see a lot of benefits in not having to, you know, have these undifferentiated components of the platforms be rebuilt in discrete ways. You know, we think there's a lot of leverage that's coming out of this. And frankly, some of the projects that we see in the elephant age group is the the Acreno work, obviously with the 30 plus footprints, there's a lot of work there that can help our, you know, suppliers deliver solutions to us in ways that are very important. And also, you know, we started to follow and track for a number of years the state of the edge report we thought the taxonomy and the work that was done there to clarify, you know, how people are thinking about the edge and defining the edge was really important because you really solve some of the challenges we have every day and try and explain this area. So what I wanted to do is just cover a few slides give some background maybe you know have some time for questions. So American Tower is a global business, you know we're a tower company and have been from the beginning right so you know we're about 25 plus years old, and we are operating in 25 countries. 20,000 communication sites. And you can imagine when you start looking at this portfolio and the fact that is the world moves to 5G. And the edge there's a lot of opportunity for us to develop infrastructure and support our customers here which are the service providers. And you know we've been on the journey of developing the tower business as an independent company for a long time, you know in the key markets in the US and Latin America we started, you know back in the late 90s. What I wanted to talk about was, you know, how is this really changing when we get to 5G in the edge because we need to look at the latency and some of the components of what's driving those use cases and how do you want to get, you know closer and closer to the source of data as opposed to sort of downlink oriented structures we have a lot of IOT a lot of sort of innovation occurring at the edge with devices, and they need to have data process and workloads closer to the tower sites we believe. So one of the things we did in this particular slide you'll see the opportunity here came up last year for the company, and we actually acquired a company called CoreSight US which is one of the largest heavily interconnected data center companies in the US. So what you look at here in this slide is really this convergence of, you know the network providers which are the history of a lot of these interconnection locations, but more importantly how enterprise and cloud are come together at these locations. And when you overlay that with our tower portfolio in the US of 43,000 plus towers, you can now see the densification that can occur when you start thinking about the edge moving from what was essentially a wireline internet oriented interconnection platform for different sub networks coming together. And moving that now to addition additional facilities which we've acquired as part of American Tower merging those together into a portfolio here, where we become a sort of a leading edge solution on the infrastructure and partnering with you know the cloud on ramps for example that are prevalent in some of these facilities. How we move to these edge data centers we have six that we put at tower sites, and we're using those to explore different use cases and requirements from the customer base that are looking to colo in those facilities. And as operators, in this case the mobile network operators move to 5G and the user playing function gets unbundled and exited at different parts of the network. And I think that the tower portfolio be a great place for that traffic to exit, at least when it needs to exit and then the workloads need to dynamically be discovered where the resources are and how those applications will will feed the end users because mobility does add a different and more complex dimension. So this is, this is the asset base that we have and I just wanted to then spend a few minutes talking about some of the projects that that we are, we are working on. The first one I wanted to talk about was, you know around project we started right around after the pandemic hit. We started working with a number of partners. We had already been a member in a university called Akhen in Germany. And what we had done there was a Wi Fi six solution to be able to provide some in building services for the community there.  And that would be targeting different use cases within industrial 4.0. There's a factory partner there is other campus use cases. And we, we started putting that together it's up and operational now. And as we move through the process, you know, it's, it's got, you know, in some of the partners that are based on, you know, Kubernetes open source solutions, using micro services as the basic software architecture, and trying to look at, you know, again 5GSA devices coming online to be able to look at multiple IOT in private networks. And when we talk about this we look at it as a hybrid network. So initially it might be serving just private users within the university community there as a test bed, but then ultimately we see demand from mobile operators wanting to also use that same platform and in Germany. There's a unique piece of spectrum called location spectrum, which is really open to private users for on prem applications. And we see the opportunity for someone like American Tower as a neutral host to be able to put those pieces together as a single share ran as a service so we're we're seeing some really good opportunities for that type of platform. And as ORAN further develops, we think we can roll that out not just there but in other markets as well I think in the US. The equivalent would be CVRS and you see a lot of demand for that and open source features prominently in these in these platforms. And the other one I want to talk on the upper right is, is working the Paris to connect so we've been for several years working with a community of partners there is five partners there that have been driving an innovation around nine polls and Mark Pole, you know, three kilometer loop in the city of Paris really was set up for autonomous platforms like a shuttle between two rail stations. And while the shuttle isn't yet operational. It's got a CVDX component. It's got, you know, sort of a small cell access component. It's got a number of sensors, LiDAR radar cameras, and even acoustic sensors. So we're rich IoT environment and then that data, you know, in the GDPR and other requirements for security, and for privacy is extracted into a cloud, public cloud. And it's been opened up to third party innovators to take that data set and start to apply it for different applications and use cases that they can they can develop based on, you know, and PTT and other types of video enabled capabilities for even classification of some of the data in the video streams. So that's another project where open source is, is playing key role. On the lower left, we just had an announcement a few weeks ago with some partners in the 5GA consortium that we work in really trying to figure out how do you build the edge for mobile automotive applications. Now there's a way that you can do it with you can use individual networks and do things where, you know, all the devices go to that one network but when you start looking at reality multiple networks need to come together so we think, you know, between the automotive OEMs, the multiple MNOs, and the requirements for the latency, there's real need for this, let's call it neutral host edge, which will be closer to the tower sites than where they are today, you know, in order to manage the sort of having more deterministic latency bounds and to have applications that are, that are really tied to mobility at the intersection blending together vulnerable roadside users sort of information sensor cameras as well as the vehicles themselves. Those things are being put together and we're building a test bed with DTTI Virginia tech, and we see that as an opportunity for a lot of the open source community to play a role as we look at particularly some of the discussions earlier on the 5G. You know, the super blueprint and we think there's some opportunities there as well, and you're tying together in this case multi access you have the wireline requirements that come from DOTs for the signal phase and timing, which is current today and a lot of intersections that are connected and are controlled, that data set tends to go back to a portal, and the latencies on that is really too long for, for, you know, automotive OEMs to be able to take advantage of that, as we look to improve safety but also, there's an ESG component there too in terms of performance and anticipation of a light change at the intersection where these speed up or slow down. So we see a lot of opportunities there to partner with the LF edge community. And then finally with LF edge, the fundamental component here is really trying to bridge together the slide I showed earlier, which is, we have this core infrastructure with core site, we have the connectivity in a lot of those facilities with the clouds, and then bringing that to the mobile operators which are already existing on many of our power sites. How do you bring those two worlds together in a way that drives not only, you know, vertical applications in a particular access network, but horizontal applications that will drive say the metaverse and other capabilities that we think are coming so a lot of requirements there and I think the LF edge community is doing a lot with the blueprints to be able to sort through that and make it, let's call it more efficient, lower cost, and more secure to be able to realize that vision so this is a big part of why we joined the community. And so we have this multi pronged approach. We see a lot of the blueprints is resonating with us and we're really happy to be part of supporting the open source community. And then finally, just summarizing some of the things we've done in terms of participation were global and we have a lot of, let's call it, you know, places in the in the in the different standards bodies and different alliances, where we're starting to show up again, we've been historically a power company. Since I've come on for the last five years, we're shifting to an infrastructure company. And so we're looking at running from just space to space power and then space power networking. So those things really come together. And then computing is really what we hope to enable both at the edge, and anywhere in the networks where we might be deploying active view such as in building or maybe in some role, you know, opportunities around the world to connect the connected. So one of the things that I think is really important. And I know, you know, thinking forward in the future I've seen some of the hints in that direction is, when you look at the 5G Super Blueprint, you know how do you get through a 5G ran open source stack for the ran I think that would go a long way towards simplifying some things and then still keeping some of the differentiated requirements there, you know, set up for suppliers to really, you know, create value around the scheduler and other components such as that. With that, I am going to wrap up. I think, you know, I wanted to just be short armpit. I appreciate the opportunity. We're just starting our journey here in support of the open source community and we appreciate the time today and thank everyone for all the great work they've done today in the in support of, you know, not not only the historical work, but the recent work in enabling 5G and the wireless community as well. Awesome. Thank you very much. This was very insightful. I'm sure people have a lot of questions. I think I see a couple. There was a mention of CBRS and I think in one of your use cases, what are your specifics around CBRS in terms of demand or use cases or from a market perspective, what are your thoughts on that? You know, we've been part of CBRS for like, I don't know, six years I think when it was first CBRS Alliance and then now it's on go. We do retain a board membership there.  I think some of the underlying silicon and components are making that transition and especially as we get to disaggregated solutions. We're seeing, you know, a lot of demand. It starts out in pure private settings, right? There's a lot of work that's being done in factories and warehouses, those types of components and those types of locations. And also in fixed wireless, we see a lot of the, there's I think close to 300,000 CBSDs now deployed. There's an ongoing conference in Philadelphia, which I'll head over to right after this call to work with the CBRS community. There's a lot of, you know, outdoor or fixed wireless, you know, nodes that have been deployed in building, you know, we see opportunities as move beyond DAS and you take the architecture and scale it into a lot of tier two type properties, office buildings, healthcare facilities, hospitality. Those buildings have traditionally been outside in for lower frequencies. And when we move to 5G and mid-band and higher frequencies, in order to retain that quality of service between outside and in, you know, we think more properties will have to build in there and we think the architecture will shift from DAS to something more O-RAN-like and that's what we're proposing to support. So we see tremendous opportunity and the market's moving forward. There's a lot of players maybe get jumped out early, but I think that eventually settle and then you'll see some significant growth in the future. Great. I do have one more question, which is, you know, you're kind of sitting in a very unique position in the network, right? You're sandwiched with the RAN, you're sandwiched with the physical aspects of things, and then the cloud and the core on the other side, right? And you did mention the importance of open source and open source frameworks and sort of blueprints, right? Clearly, you know, as an organization in your space, you may not have all the skills of software, or you may be developing skills of the software. How important is it from your perspective, you know, the value of these frameworks and how much do you rely on the community to help you out on making sure that the software is kind of a critical part of the solution because, you know, it's kind of sandwiched. It's a good question. I think the way I look at this is a lot of the projects we are doing, we're trying to work with some of the new, more agile innovators, right? And not to say that other people are innovating, put a lot of R&D, but the traditional suppliers is an easy button, right? People can go to them and they know they'll get an integrated solution that works, and what we're trying to do is push the envelope a bit here. And so what it does is it means that some of these other players, there's a little bit of a risk, right? Will they be there long term? And when you think about depending on open source platforms, it gives you that confidence level that says there's a community behind it. So it's not just this one business. And then when I put those pieces together, granted, there's more risk and integration. But over the life cycle, if you look at some of the projects that the Linux Foundation is supporting, is how do you make sure that code base is going to be robust? How do you make sure that all of the CICD tools are there, the testing is there, at least with some of the blueprints? And that gives us more confidence that we're working with smaller suppliers. And I think it's important to encourage the innovation in the smaller suppliers. I think that's some of the premise behind O-RAN, frankly, is that I think it's like four or five OEMs support 96% of the wireless equipment globally. So those 100 billion plus investment goes to four companies, four or five companies, generally speaking, for the wireless network. So opening that up and having some additional innovation really is much more, I think, secure in an end user's mind when the open source community is also backing up those protocol stacks and the underlying software platforms and architecture. So that's an important element from my perspective. It doesn't mean we wouldn't use open source wherever we could. We're not putting it together necessarily ourselves. We're not at that low level of, like you said, we don't have the software team in place to do that. But we're relying on partners to do that for us. Excellent. Beautiful. Very insightful. And thank you very much for addressing this community here. Appreciate it. And thank you very much. Thank you. Enjoy the rest of the conference.


Thank you very much. So first, thank you for letting me talk here. And this is a joint work with Andrew Sayle. And what I'm going to talk about is auto-automorphisms of right-angle arting groups. And I will investigate which of them are vast and which of them are not. OK, so let me first remind you what's a right-angle arting group. OK, so you'll start with a finite graph, gamma, with vertex set x1, xn. And you construct a very simple group, very easy presentation. You put a commutation relation whenever there is an edge. So that's a rag. So rags are very important in these days because you can embed many groups in rags. That's not what I'm going to talk about at all. I'm going to talk about automorphism groups of these rags. And so the easiest examples of rags are, for instance, the free group fn.  You take z to the n, you take a bunch of vertices, and you put all the edges, but there are many more. I don't know if you can do a direct product of free groups. Take free product of a billion groups, but many more. And OK, so what I will be interested with is the group out. I need a notation for this group. We'll denote it by a gamma. So given a finite graph, the arty group corresponding to that is a gamma. And I want to talk about out of a gamma, which is just the group of all automorphism modulo inner. Examples include, I mean, that the extremes of the spectrum out of fn and gln is out of fn. And so in some sense, those groups here, this family of groups, interpolates between out of fn and between glnz. And I want to draw a frontier, a boundary, between groups we have a large behavior and those which don't. And that's the goal of the talk. So in which sense, larger or vast ways in which out of fn is larger, or I would say, faster. Then OK, so for example, those groups are not small. They contain three groups. But the way I want to, the kind of bigness or largeness I want to investigate is something that will not well behave with respect to subgroups, but with respect to quotients. So for instance, one way in which out of fn is faster than glnz is that there is an epimorphism. A canonical epimorphism just by looking at the action of an automorphism on its abelianization. So this is the first very basic way in which out of fn is faster than glnz. But there are deeper ways. So here are three other ways. More interesting. The first one is a profanite property. So it's about involving all finite groups. So here's the definition. A finite-generated group involves all finite groups if for every finite group f, while there is a finite next subgroup of g that maps onto f. Definition. And for this property, out of fn, ba is very differently than glnz. So here is, for instance, here is trm by read. And so that's for the mapping class group by Novald Botzkic out of fn is that out of fn and the mapping class group of the surface, probably sufficiently large, involve finite groups here. And on the other hand, the theorem I don't exactly know whom to attribute it. Probably it's related to the congruent subgroup property. So for n, glnz does not. So for n equals 2, things are very different. gl2z is actually the same as isomorphic to out of f2 and is virtually free. It does involve all finite groups. So maybe I should have said so. The basic example of a group that involves all finite groups is a free group f2, because if you take a finite cover, you can get three groups of arbitrary rank. So you can map onto every finite group you want. So that's the first way in which out of fn is larger or faster than glnz. Here's a second way called sq universality. A group g is said to be sq universal. So sq stands for sub-caution. So if any countable group embeds some quotient of it. This says that this group is very far from being simple. It has, if it's finite generative, it implies that it has uncountably many quotients. And here, again, there is a big difference between glnz and our fn. So theorem is that mapping class groups and out of fn are sq universal. Damani, myself, and Dennis Ossin. And on the other hand, wondering what's going on for glnz. Well, there is a Margolis normal subgroup theorem tells you that any quotient of glnz is either by a central subgroup. So you don't do anything. Or the quotient is finite. Any normal subgroup, pgln has finite index. Altrual. But in particular, it's very far from being sq universal. So that's for n, at least 3. That's a higher-ranked phenomenon. Here is a third way. Third way involves quasimorphisms. Should I define homogeneous morphisms? Is a map from G to R such that it's a quasimorphism, meaning that h of gh minus h of gh of what? That's not good. It's bounded by a constant c. And homogeneity is just this is rated to bounded homology. And let's say that for this talk that G has many quasimorphisms, so this is a real vector space. You can add quasimorphism. You can multiply by a real number. And so you want the dimension of this set of homogeneous quasimorphism to be infinite dimension R of this set. So if your group is finitely generated, there are obviously a morphism from G to the additive group R is one of those. But there can be only five dimensional of two morphisms. So if there are an infinite dimensional set of quasimorphisms, then they are kind of exotic ones. And here again, there is a huge difference between out of fn epsilon there. So theorem. So here, a fein, a virginia fugiora, out of fn, and the mapping class group of the surface have many morphisms. On the other hand, this is not true for g and z. So I think this is due to, then there is a more general version, which is that g and z. Well, in fact, I think it has absolutely no non-trivial homogenous. All these three properties, these three largeness properties like, so involving all finite groups, being ex-universal, having many quasimorphisms, they are inherited by quotient. So if you map onto a group that has one of these largeness properties, this vastness property, then the group you started with also inherits this property. And that's a nobulous fact. There is the strongest form of vastness, which has a name. It's called being large. g is large. If it virtually maps onto a free group, it has a finite index subgroup g0 in g, such that 0 maps onto the free group f2. That's largeness. And this largeness property implies all the three properties I proved. I mentioned, sorry. And what is, sorry, examples, it's known that, well, out of f2, which is the same as gl, z is large. Just because it's virtually free, it's known that out of f3 is large. This is due to Grinwald and Lubotsky. This is not known out of fn, or n larger. And it's known that gl and z is not large, greater, at least three, maybe because it has property t or because of all those other reasons. This largeness property is the strongest vastness property in some sense. Strongest, it implies all the three properties. So maybe I should write notes. These properties, so the picture of the goal of my talk is the following is the word of rags. On the left, or on the right, I'll put the vast behavior. So we're out of fn. I will see also n is here. On the left part, I'll put the non-vest, so the skimpe part. And here I have gl3, greater than 3. That's here. And the question is, where does the frontier go? What's the boundary between those two behaviors? And that's out theorem. We describe the boundary following. So it says that the following are equivalent. The first thing is a combinatorial condition on the graph. I'll make it precise right after. Then if this condition on the graph holds, then out of a gamma, well, if and only if, out of a gamma involves all finite groups. And equivalently, this also holds if and only if, out of a gamma, is sq universal. This also holds if and only if, out of a gamma, it actually has. So I can describe the precise combinatorial condition. So it means that for the group to be vast in this way, gamma has 3 equivalence class. I need more space. What is the condition star, if and only if? So I need to explain the terms I'm using here. So if gamma has a free equivalence class at least 2, or gamma has a nabellian equivalence class of size exactly 2, or gamma has still separating sections. So these are features that were already used in the study of automorphisms of rags. So what are them? So to explain, so I need to explain this. What are those equivalence class? And what's a separating intersection of things? Well, this is rated to a generating set of the group of automorphisms, which involves several kinds of automorphisms. And the first one, this kind is called a transvection. So what is a transvection? That's a particular kind of automorphism. So take two vertices, x and y in gamma, which are distinct. And that's an automorphism that sends x to xy, and it fixes all the rest. So this does not always define an automorphism of the rag. It depends on some combinatorial condition. This is automorphism, if and only if. So either the link of x is contained in the link of y. So what is this link? So we are in this graph gamma. The link of a vertex is a set of neighbors. So you want that every neighbor of x be a neighbor of y. That's because you want that if you send x to xy, x commutes with many elements. And then you want that xy commutes with the same elements at least so that this defines a homomorphism, either. So that implies that x and y don't commute. And when they commute, the right way of putting it is a variant, just that the star of x is a star of y. The star of x is just a link together with x. So the link is a sphere of radius 1. The star is the ball already. And so you see that this is actually an ordering, or at least a preordering. And so we say, in this case, let's say x less or equal to y. And corresponding to this partial preordering, there is an equivalence iteration. And that's the same as either they have the same link or they have the same star. Maybe I don't write this. So examples, maybe I put x1 or x2, x3, x4. And here I want to add some more edges, y1, y2, y3. And those guys form an equivalence class. They have the same link. And those guys form an equivalence class. They have the same star. And this is a free equivalence class because the elements don't commute with each other. They generate a free group in the rag. And here it's a Nabilian equivalence class because they generate a Nabilian group in the rag. So that's the definition of the two words which are here. A free equivalence class is something like that. It's a set of elements which don't commute with each other, but you can transvect the element onto the others. And a Nabilian equivalence class is the same, but the element commutes together. That's a feature. Now to explain the second point in the definition, which is separating intersection of links. This is related to another type of automorphism, which is called a partial conjugation. What is a partial conjugation? Well, it's an automorphism defined as follows. For all x in x, x is mapped to a conjugate, and you conjugate by y. And for the other elements, you just don't do anything. That's a partial conjugation. It's a conjugation on some piece and identity on the rest. So here again, for this to work, for this to be an automorphism, you need some conditions. And the condition is x is a union connected components of the graph minus whatever commutes with y, which is star. And actually, you could also add some more elements in the star of y because if an element is in the star of y, it's exactly the elements which commute with y. So those two definitions agree on this set. So that's an exercise to check this. So star of y, which doesn't change the definition of the automorphism itself. And now separating intersection of links is some condition that appears when you want to understand when those guys commute or don't. So here you say that x, y, z is a separating intersection of links. If the following holds, the link of x intersection y separates x, y. And you also want that x, y, and z don't commute. So the picture is as follows. You have x, y. They have something in common in their link. Let me have some other stuff. And there is a connected complement of the complement of this intersection. That's the intersection of the links. And here you have the z. And what you can easily check is, in this case, if you take big z as a component, see the x, z, and see y, z. Don't commute and generate a free group. So in fact, there is a theorem by Pérez and Gotz-Androhan saying that, in fact, that the group generated by all those partial conjugations is abelian, if only if partial conjugations. Butte, abeliana, if only if there is no seal. So that's the only source of non-commutation. All right, so I think there is, for instance, a theorem that can state with those definition that's due to today, which analyzed which of those automorphism groups of rags contain free groups. And that's if and only if there is a seal or there is one of those equivalence classes of size two, or at least two. So here, there would be a two, because then you have also many transactions that don't commute with each other. All right, the point with these particular automorphisms is that, in fact, they form a generating set of a finite index group of the group of automorphisms. So theorem by Lorentz, transactions, and partial conjugations index, psi will denote by r0. In fact, you can be explicit about what's missing. What's missing is just that there are automorphisms that may come from permutation of the graph, automorphisms of the graph. And then there are also automorphisms that fix every generator, but just send one generator to its inverse. That's what's missing. One may wonder, so in the theorem I just raised, skillfully, one may wonder what those three properties which are rather different, like involving all finite groups of profanite property, sq. universality is something related to quotient, quasi-morphisms is something different. So they, in general, they are not related. But here, something happens. I mean, there is this coincidence. The boundary between the behavior for those three properties is the same boundary. So this can be explained by the following trichotomy, which we prove. So one of the following holds. So 1a is that out 0, a gamma, maps onto out of fn, or sl. That's the first possibility. A second possibility, 1b, is that out of a gamma large. In fact, this one implies this one. So I, well, not exactly, but I could have forgotten about it. And there is 2, which says that out 0 of a gamma fits in a short, exact sequence. So here, you have a polycyclic group. Here, you have a product of ni. Ni's are at least three. So either, so here, that's what happened if the combinatorial condition holds. And this is what happens if it doesn't hold. And here, it's fairly easy to deduce the theorem from this. Because, well, if your group maps onto out of fn or into sl to z, or if it's large, then it satisfies all those vastness properties that I mentioned. And if it does not, then you have this short, exact sequence. And because all those, the group sln z that appear here, are higher-ranked, so they have this n greater than 3. And it's also an exercise to show that, because those ones are not vast. They are skimpy. And this one is just polycyclic. And then this property lifts to this property, for instance. So it can't be, for instance, I don't know which one is your preferred. It can't be sq universal. Yes? No, 1b implies 1a. Well, it's not, because it's a nor. It's not known whether, yeah, they take out of f4. It's not known whether, so it fits here. But it's not known whether it's large or not. So large, meaning it virtually maps onto f2. But why? OK, so the proof is really combinatorial, and that G-brake doesn't evolve. So there is a sequence of work by Charlie and Vokman for constructing outer spaces for these groups. And we don't rely on that at all. So the method we use is more algebraic, as you see. It's about mapping onto other groups, or about proving this short exact sequence here. So let me maybe explain more precisely what's going. Well, yes, the proof of this trichotomy, and the relation with the combinatorial condition. This, OK. Yes, so that's a direct product of SLNZ. And the Ni's, all the Ni's are at least three. And you can be more specific, in fact. In fact, let me add some color comments. So in fact, here, Ni's, that's the size of the equivalence classes. OK, maybe this is not understandable, because I didn't explain the relation with this. So 1a will hold if there is a free equivalence class of size at least two, then you will have a map here. You'll get this thing. And if there is an abelian equivalence class of size two, then you will get this part. OK, that's this and this. Now this will happen if there is a seal, and 1a does not hold. So what we prove is that in this case, if there is the seal, and if we don't have any free equivalence class of size n, essentially, then we prove the largeness of the. And so in the remaining case, what we know is that all equivalence class, they are abelian, and they have size at least three. So the Ni's are the size of this equivalence class. They are all at least three. And we have this short exact sequence here. So the proof consists in saying there is a first proof 1a. It's a simple observation. It's the fact that if gamma has an equivalence class of size, say n, then this group out of 0 of a gamma, maps on to either out of fn, or on to slnz. According to the fact that the equivalence class can be free or abelian. OK, so a similar observation had been made by Charney and Vogtman, for instance. But in a more restricted case, that's very easy observation. And it proves part 1a of the alternative. Now, about 2. So you have to prove that if there is, so that's in the remaining part. So you have to prove that. So you assume equivalence classes. And then what you do is you look at the representation corresponding to the abelianization. So you have a map from out a gamma of 0, size of gamma. So just abelianize the writing of our thing and look at the action of the abelianization. So this has a kernel, which is called aAA. And it's a result by weight and by the day. And weight, this is generated by two things, by partial conjugation and some commutator transactions. And in this context, you just check that because all equivalence classes are abelian, these are all trivial because of this. And so you remain to understand that. So the kernel is regenerated by partial conjugations. And so in fact, and I told you this result, which is skillfully here by Gutierrez-Pigotin-Reyn, that this is abelian because there is no seal. So this really is abelian in this case. But what's the image? The image is very easy to understand. The image here, it's made of block triangular matrices. And on the upper blocks, that could be something or nothing, depending on whether, OK, I didn't say the sizes. I mean, all these blocks correspond to the equivalence classes because that's where the elements can transfect on the other. So these are the size of the equivalence classes. And here, some equivalence class that can be transfected on the other, but not conversely. And so it's about whether some equivalence class is larger than the other or not. So you really, the image is described completely explicitly, it's a group of triangular matrices. And so those n i's here, so here you have a nil-potent or unipotent part. And the diagonal part gives you this product of the SL and IZ here. So that's really contrary to it. And so the main point maybe is what happened here. If there is a seal and 1a doesn't hold, so if there's no free equivalence class. So here, in case 1b, there is a seal, equivalence classes are abelian. This is enough. So then what we prove is that there is another, so x prime, y prime, prime, on which the group, we have to find some morphism to a large group. And that's what we're going to do. So such that our zero Bay gamma is mapped onto, well, not onto, to a subgroup of the group that they generate. So that's generated by the equivalence class of x prime, the equivalence class of y prime and z prime, which is out of some z a, z b. So in some sense, we have to do some combinatorial analysis to see what can happen. And we see that if we take, in some sense, a smallest seal, then we can construct this map here. And then, so here the map is not onto in general. So here we use two things. So it's not onto, but we essentially understand the generating set from the generating set we have out of a gamma. And so there are two options. So either we can completely describe as a free product, an amalgamated free product, as an explicit. And from which we are. And in the other case, so we use a representation that's related to the representation used by Grinwald and Lubbocki to prove that out of F3 is large. So here we have three factors. And that's important. And it's the same three as out of F3. And so we use some Fed Podsky station. And we get, so that's on the homology of index 2 subgroup of this group. And this homology splits in two factors. And one of them, because of the action of this group of order 2, so there is a fixed space and an anti-fixed space. And this one has dimension 2. And from this, we get a morphism from a finite index. And so the image is large enough. It will be virtually free. And when it's not, then we can rely on this case. That's all I wanted to say.


to FAO and also to UNWTO for including me into this important forum, some great speakers and I've already learned a lot from the previous speakers. So I wanted to share a few things as it relates to the potential of agritourism in the Mekong region. So the Mekong region is a regional tourism collaboration between the six governments of the Mekong regions headquartered in Bangkok, Thailand and was established in 2005. So here's just a quick overview. So it includes Cambodia, Laos, Myanmar, Thailand, Vietnam and in China, Yunnan and Guangxi. Obviously we've seen over the last five years a rapid rise of food tourism globally. And in the Mekong region we've been looking at food tourism in different various aspects. So I mean, on one hand we created a strategy paper back in 2016, so almost five years ago. We also created various forums on food and always trying to bring in the local communities and the local aspect to keep it authentic. Now with COVID, obviously we see a few key three consumer trends. So besides the rising Asian middle class and also digital consumerism, the first thing is from unhealthy living to organic lifestyle. So we see that people are looking to live more healthy. The second thing is from mass tourism, we will see a more local experiences. Sandra from UNWTO explained that, that people are looking more for rural experiences. So I think that's very much aligned. And the third thing is from following tours to purposeful travel. So really people want to connect with people, they want to give back and they want to have a meaning when they enjoy their travel experiences. So that's obviously a big potential to combine agriculture and tourism the two largest economies in the Greater Mekong subregion. And when it comes to this subregion in Southeast Asia we have a lot of food products that are actually found in many of the countries. So from chili, pepper, rice, silk, fruit, fish, tea, salt and coffee. And when it comes to products that are well known, I mean, so we have Chinese Puerh Teah which is obviously a world famous, Thai rice, Lao coffee, Kampot pepper, Thai silk and so on. So lots of opportunities there to promote this and give back to the communities. I want to show you a few quick examples to just bring it alive a bit. So one is obviously Doi Tung Coffee which is a project that was started by the late King Ramatien and really is there to drive agriculture and helping people in the provinces and Northeast Thailand. Another nice example is Kamu Lodge is also in Thailand and so here is the staff is 100% made up of local people and from an agriculture standpoint, there's rice planting, net fishing and gold planting. So it's a real nice experience which obviously is purposeful because it gives back to the local community. There's a tour operator called a local alike and they have really nice experiences with the local communities. So you can, in this example, you can stay at a farm in Shanghai and really experience the local life. Another one is in Cambodia, Kampot Pepper. So you can have Kampot Pepper tours. You can stay at a resort that is working with Kampot Pepper. So again, really bringing the tourism experience together with agriculture. I mentioned Yunnan Kua Ti before. So obviously in Shishong Guan Na in Southern Yunnan, you can also explore the art of tea making and then there's even a Rilesha To Hotel where you can stay in the middle of a tea plantation. Moving to Laos. So I mean, there we have tours also where you can visit Laos coffee plantations and there's also the famous Laos Coffee Festival. Moving on to Vietnam, obviously famous for rice. So you can get involved with rice farming and also can stay at a farm stay. This one has been supported by various development banks called Chai Lap and it's also part of our experience making collection. Moving on to Thailand again, I wanted to give you one example. So obviously with Thailand, the tourism authority of Thailand has been promoting agro tourism for a while and one cornerstone is rice farming. So this is something that people can experience. I'm obviously talking pre-COVID. And when we look at the potential versus the reality, so it's really the question is how can we position the GMS, the Greater Mekong Subregion, as a global agro tourism destination? So the tourism industry in the Mekong region has been growing rapidly. So promoting agro tourism as a concept, the value is really to contribute to the rural population and that obviously is aligned to consumer trends where people are looking more to have rural experiences. Through agro tourism, development farmers can develop themselves into entrepreneurs and agro tourism contributes to rural development by creating employment opportunities and empowerment of rural people. And then finally, agro tourism may assist in positioning the GMS as an authentic, experiential destination, supporting consumer trends of purposeful travel, authentic experiences and healthy living. So I think again, this is very relevant post COVID-19 pandemic. Now the issue that when we look at agro tourism, which sometimes is forgotten is the move to organic tourism. So the GMS alone accounts for 18% of global nitrogen emissions from fertilizers. So that's obviously is a big issue when you're looking to stay healthy. So there's various initiatives on the way to really promote organic farmers because this sometimes is difficult. It seems to be an easy fix, but it actually takes a lot more time and effort to really drive organic tourism as a concept. One model is the Sampran model in Thailand. And that really supports sustainable businesses based on community partnerships and the sufficiency economy, philosophy by the late King. So the problem here is obviously that, when we look at the cycle, that the farmers are in this vicious cycle of depth environment, producing quickly and then have to use chemicals, then they have to use the middlemen. So a lot of the profit is taken out and then the consumer obviously faces health risks and higher price of organic products. I think we see that everywhere. So here the solution is to support these organic farmers. That obviously drives a better environment and also because either we cut out the middlemen or there's a fair middlemen, there's higher profit and then the consumer has more fair prices and can enjoy healthier food. So this is really how the Sampran model works and it's working with government. I'm not gonna go too much into detail now, but in concept, it's really that the farmer can go directly to the consumer and also promote directly to the hotels or to the meeting venues and so on to promote and sell their food. Back actually in 2017, together Mekong Tourism Coordinating Office and Tourism Authority of Thailand organized the first organic tourism campaign. So this is something that then was taken on and now just recently, TOCA was launched which is the Thai Organic Consumer Association together with the Tourism Authority of Thailand. So again, not to go too much into detail but we see here that this is really taking the model we've seen before to a whole new level where the farmers then work directly with the hotels, the restaurants and the consumers and there's also blockchain built in, there is a plastic free built in and all these kind of things. So again, I'm happy to share this with you if you're interested, but I think it's a very innovative model that can also be applied to other destinations all over the world. I'm gonna skip this video, you can find it on YouTube, this is just basically talking about this TOCA model and how it is applied in Phuket as a pilot project on the island south of Thailand. Oops, and that's basically it for me and I'm happy to answer any questions or share the presentation as well. Thank you very much.