Welcome to Gillespie News or Dan for short. My name is Rob and today we're gonna talk about everything's going on with the Fed rate hike And on top of that right take a look at Senator Elizabeth Warren is shouting to stop the rate hikes Which Jerome Powell really doesn't care is still going to Put up those those rates, you know probably go setting five basis points Which should be coming up in the next hour or so and this will lead us to that to the bigger question and the bigger Chats about what's really behind the scenes which is How things are going to work with unemployment. It's probably going to go Increasingly higher. I'll take a look at some scary inflation numbers and the real big question that is is Recession really the worst thing in the world and finally we'll wrap that piece up with a little bit of data and information from Nobel Prize winner Milton the Freeman as he explains to us exactly where inflation comes from also. We'll talk about how institutions are here and they are Driving up demand and they also have a pretty big foothold in crypto as far as Bitcoin goes You know, they have they have almost 7% of the total circulating supply. It's true And then also we'll take a look at some positive news as JP Morgan comes out and uses two specific cryptos to do tokenized deposits and transfers which I think is big news for these two cryptos and then finally we'll wrap it up with a little negative news which we talk about the updates for Celsius and surprise it was probably a Ponzi. So let's just break right in and talk about the big first story today Now Jerome Powell is gonna come out and the next 45 minutes or so. He's gonna have a press conference He's probably gonna say it's 75 basis points So I don't see a reason to really talk about that cover that once it comes in people will say well Everything's been priced in so we shouldn't see too much of a drop or a dip But every single time this happens the market gets irrational It's like somebody doesn't know about it and then all of a sudden there's a little bit of a sell-off So me personally, I'm not dollar cost averaging today. Just waiting for the announcement. Hey, maybe for some reason Jerome might say we're going to 100 basis points and that would be a pretty good day if you're just waiting around But the thing that caught my attention was senator Elizabeth Warren is Calling for Jerome Powell and Fed to stop raising rates so quickly and it came down to this Peace which she wrote a formal letter to the Federal Reserve chair J. Powell and said look You guys can't do this And I just thought it was interesting to kind of go through the minutiae of what's happening And what kind of the things that politicians are talking about and other kind of just a little bit of a distraction about what's happening So first things first she states we are writing to express concern and request additional information about the implications of the Federal Reserve's Most recent economic projections its intention to continue raising interest rates and alarming pace and You're disturbing warning to American families that they should expect pain over the coming months. Listen, I gotta tell you Thank God someone comes out and says look here's the truth.  I can't change these things. Let's just move forward So when she talks about, you know, it's a painful thing. Yeah, it is but I don't think it's alarming I mean just thank you for warning the Fed has raised interest rates by three percenters points over March The fastest increase that size since 1982 which has already estimated to put 800,000 job losses in the pipeline So just so you know in the background all these rate hikes We're not gonna see the effects for nine months 12 months 18 months or so Moving forward that 18 months pretty pretty long ways out, but we will lose jobs The unemployment rates will increase and it's will be painful and what was fascinating to me is, you know, of course Where did the data that actually? Warren pulled this from is actually from this quote From Nancy Vandenhouten Oxford's lead US economist and she states when we look at 2023 We see almost no net hiring in the first quarter in the first quarter in 2023 and job losses of over 800 to 900,000 The second and third quarter combined. I gotta tell you that seems kind of light. I hope that's Nancy is correct, but that's where the data comes from This is where it gets worse The Fed projects that unemployment will rise sharply from 3.7 to 4.4 in 203 and 24 Implying additional 1.2 million people losing their jobs There are fears that the Fed risks tipping the United States into a recession and Causing widespread joblessness and before we move on I have to make a distinction here And this is from a front of the show Ben Cowan over at into the cryptoverse We've got a great website link in the description. I'm gonna steal all this data. So thanks Ben for Allowing me to do that, but we can just see here we have the unemployment rate and the whole point of the Fed was to you know put a lot of a lot of hardship and To drive demand down so we wouldn't see such inflation. They were also hoping this is true that the unemployment rate would actually go up Unfortunately, we can see down here. We went from 3.6 in May To it went down 3.5 in July. I think we remain flat ought to raise up a little bit in 3.7 in August And then I went back down again 3.5 percent So the things they're doing again, we're not gonna see the effects 6 12 18 months out But the thing that I need you guys to be aware of is this going back to 1950 see these gray areas here as Unemployment rates go up This is the recession all these gray areas here in every recession Unemployment rates must go up. They must go up It drives demand down because people can't afford things Inflation rates go down and you can see here just amazing how it peaks here in 1949 and then it goes right down Same thing happened in 1953 same thing happened in 1957 so on and so forth. Here's another big one here 1973 you can see the unemployment rate skyrocket and what does that mean? Well, we can't afford things and it just goes back down inflation drops and it goes back up again It's a natural cycle like everything else 81 and of course the last one we see 2008 2007-89 we saw a major distinction and once there's a max pain then it goes down, but don't worry Because these recessions are natural they do go away But to clear this up in between these recessionary periods What do you see? You see economic boom Just coming forth and this is going back to the 1970s again You had about a year and a half or so and then economic boom another year and a half economic boom a year a little space year Economic boom same thing over and over and over again So I understand what Elizabeth Warren is saying is like look I'm worried about the American people I Would like them to not lose all their jobs and and these things not to happen But I don't see a soft landing and I don't see how our ways around this, but I could be wrong Let me just think about in the comment section So private forecasters project that your monetary policy path will push the unemployment rate even higher than the 4.4% Bank of America expects that employment will peak at 5.6 The loss of more than 3 million jobs So we went from 900,000 to 1.2 million to potentially 3 million jobs Economic economists forecast a 63% probability US wonder recession. I think we're all here in recession We can take a look at different factors and of course, you know GDP growth has actually changed it actually has Improved over the last time period But just go to the pump just go to the grocery store Just tell me how the prices are doing and to tell me if your families aren't feeling it That's how I feel as far as recessionary periods go and there's different facts you look at but that's just how I see things as You've previously stated the fed's tools are limited in slowing these other dynamics And she states, you know in your press conference You said hey our tools which our tools are raising rates Don't really work on supply our tools work on demand We can't affect oil prices or commodities or food prices There are many things we can't affect and those are commodities the war on Ukraine and so and so forth and she's right and in this regard because if they're trying to you know Stave off inflation by just raising rates Because they're saying that's demand that doesn't really work too well There's a real reason for that and we'll get to the freemen a second And then of course through all this stuff that she talks about and it's you know good I know some people hate Elizabeth Warren some people love Elizabeth Warren whatever But here's what she asks for all the all the data like hey What kind of information can you give us as far as these economic projections on a rich employment forecast described above? Please describe the expected impact of job losses by wage race sex education Attainment and sector as the fed see evidence that's monetary policies haven't embedded expectations of recessions among market participants and blah blah blah So it's a lot of like back and forth and like tell us what you know Bring us some information, but in reality There's no resolution. There's nothing else that you can say like hey This is maybe a different course. It's just back and forth, but really in all honesty There's not much you could say to get out of this government printer too much money and Let's be honest. We weren't Complaining about it too much when we get all those stimmy checks, right? And we were really complaining when the traditional market rose up to astronomical proportions And we were really really complaining when we saw that with crypto were we not So here we are and Recession Potentially a mild one is coming or heavy one. I'm not for sure, but I just want to remind everybody Where inflation comes from I know we will talk about demand. There's a small part of that that is true there are different parts of the social economic factors, you know as far as global macro issues But I just want to share this with you and this is Milton Friedman, he is one of the Nobel Prize winners for economics and he was right then and he is right now This is 33 seconds. Just take a listen to this Inflation is made in Washington because only Washington can create money and Any other attribution of two other groups of inflation is wrong Consumers don't produce it Producers don't produce it The trade unions don't produce it foreign sheikhs don't produce it Oil imports don't produce it What produces it is too much government spending and too much government creation of money and nothing Inflate I Can't make it more simple than that and that is just the truth and we can We can play three card Monty all we want to but that is just the reality situation print a lot of money and they should have pulled back and they didn't now we're gonna feel it so That's we have for that piece and then lastly We'll just say that There's a person you should follow on Twitter if you have Twitter John Wick at zero hedge John Or zero hedge Full-time operators 17 years really good information puts out some good alpha and he states this once inflation gets above 5% Is never come back down without a recession What's inflation goes above 5% has never come down without the federal funds rate going above CPI Federal funds rate is now 3% 3% inflation is 8.2 CPI is 8.5% so to think that we can get out of this I don't think that we can right now, but I could be wrong and I'm waiting for everybody to Sound off in the comment section and I will be reading all of those, but that's what we have for that let me know again in the Down there in the comments or live chat and we'll get to that in the Q&A after this But that leads me to my next point, which is this diversification It's important. I know that we want to get rich on crypto, right? We want to be the next dogecoin millionaire, which congratulations dogecoin holders good for you guys So like right now you may notice that I am we're not in El Paso. We were actually in one of our Rental properties. We were fixing it up here in condado in Puerto Rico And I think it's important to take a look at different aspects to get into not just crypto This is not financial advice But the diversification is sometimes a pretty good sound measure to take a look at now again Properties are good. I'm looking at heavy positions into cash Also some D gen plays because I am a gambler a little bit 5% nothing big I do staking I trust capital 10% the Amazon business land things like that and of course a little traditional equities so real quick masterworks it is Fractionalized shares of fine art. I got I own two not outright. That's crazy. I don't know Banksy. All right, but a Banksy in the basket yet and As far as about a year now, I'm up 40% for the year And the performance is looking pretty good so far. These are the annualized returns of different sales of high-priced items 32 31 33 Not bad, but just so you know It's beaten Russell Nasdaq S&P 500 and also crypto for this year Because the reason is is because it's uncorrelated S&P 5 real estate and gold all that good stuff. And why is that because rich people love art This is a shredded Banksy. You know how much this shredded Banksy sold for 1.8 million And then it got shredded and then they bought it for 25.4 million just saying and don't worry It is registered with the SEC because it is a security So I'm gonna take a look at all the information there's a link in the description looks just like that and you can check that out And that will lead me to my next points Institutions I know some people hate institutions some people love institutions But they're here and they're buying up a bunch of Bitcoin and crypto assets and when we get to the JP Morgan I'll explain a little more but There's a great website It's called buy Bitcoin worldwide comm forward slash treasuries and as far as different categories ETFs Countries El Salvador public companies of private companies the percent of the 21 million Actually should be circulating supply, but sure. Okay. I mean because we don't have 21 million out there right now We still got a mine some right about 19 and a half million or so. It's almost 7% So institutions are here and they're buying up like crazy micro strategy being one of the bigger ones 130,000 Bitcoin Galaxy digital 40,000 voyage digital still has mine 12,000 Tesla 10,000 haven't sold a little bit So when we take a look at this and people will say well, I don't like institutions being here It is what it is and we can only Change the things that we have the power to change and that is not it So I know when people say well, I don't know. Maybe it's going to zero Maybe Crip is gonna girl. It's not going to zero first. Well institutions are here. They're buying like crazy They're buying behind the scenes. They're buying OTC, which is why they don't move with the markets too much There's a lot of things going on that I think is a reason to potentially think about maybe this might be a good time When nobody wants to get in and also as a little reminder, this is from Kiyong Ju He's the CEO of Crypto Quant. He put this out a couple months ago. Actually, you know that 76% of the trading volume and Coinbase Came from institutional investors in Q1 2022 76% three out of four and So if you think like a little bit here and there but it is the truth and that's what it is Now it really means my next point JP Morgan They just used polygon and Ave To do a token swap and tokenize deposits. Here's what's going on. This is Ty Lobin He's the product manager at Onyx digital assets at JP Morgan. First of all, what's Onyx at JP Morgan? I had no idea so this is a Permissioned blockchain, you know, we talked about it's a permissionless blockchain. Well, this is pretty much a permissioned blockchain and Not decentralized per se. However, it's interesting that they still have to use decentralized Token assets to move things around. This is from in 2020 Again by JP Morgan Onyx is pioneer the world's first bank led blockchain boo. It is what it is But whatever platform the exchange of value information digital assets They also have linked by JP Morgan in information exchange network and able to see most payment related data And then Onyx is a blockchain network enabling the exchange of value for various types of digital assets So here's what happened today first time it ever happened First Ty says we've used polygon for the trade because we want to do this on Ethereum This step back for a second and listen to what he said. We want to do this on Ethereum We wanted to do this on Ethereum. We want to do this on Ethereum. Why they want to do it on Ethereum? It seems like Ethereum has a big foothold in VCs and Institutions and of course for some reason the banks I'm not going to speculate why you can do that in the chats But it's interesting that he's like we want to really do this on a theorem Maybe it's because it's been around for a while and it's safer However, Ty knows something that we all know and that is that theorem super expensive So we needed cheap gas fees for some expense by operations around ID verification Future phases of Guardian will explore the blockchains to give the MS goal for open interoperable networks We're right now. We're using polygon JP Morgan polygon awesome Second we used Ave so that we could leverage their permission pools concept We deployed a modified version of Ave Arc so that we could set certain parameters such as engine rates and FX rates awesome Third we use tokenized Singapore dollar deposits. This is deposit token is general liability of JP Morgan It's a native token given stable on chain value interesting on chain stable coin Singapore There's the contract and Fourth I think is the most important we used at w3c that's software and tools for permissioned Verifiable credentials provide compliant access to Ave and venture capitalists give much more fine-grained control Then just allow listing addresses because that's what it's all about venture capitalism pulling that money in That's what they want to do now what I want to do Risk limits asset limits, etc. All possible and we built on chain verifications of the venture capitalists. Why is that so important? Well, it's because as a heavily regulated bank We cannot enable money laundering and must I don't take KYC Using these seeds and allow us what's crucial for an able X to use DeFi pools with certainty on these points Institutional DeFi baby. That's what it comes down to so before we get all up in arms and go How dare they do that? It's the reality. That's what's going on So you just have to take a step back and go. Do I like what's going on? Do I want to be a part of this? Do I take a look at the products that they're using? Do I want to be a part of that or don't want to go for it? It's up to you. I can't tell you what to do I'm not a financial advisor. I'm so I'm not your dad. So It's up to you to do what you want to do But for me, I try to change the things that I can change and that's just one of those things I can't however Ave and polygon very interesting and lastly just to finish this up We had some good news. The bad news. Let's This is what it is judge orders probe to investigate whether Celsius was a Ponzi Federal judge overseeing the Celsius case is asked for an investigation look into weather This was actually a Ponzi itself. And Yeah, looks like it was so The order this is during November 1st hearing does one just yesterday because the event days remember second comes in response to Allegations from customers that self said use assets of new users To pay yields and facilitate withdrawals to existing users That's a Ponzi when you take somebody that's hey, I got money for you But I needed to get it from the other people who are in there. Let me give you your yield. That's a Ponzi The judge had approved the appointment of an independent examiner because I knew something was going on Little bit fishy on September 9th to look into aspects of Celsius's business following calls for greater transparency. Guess what they found it They're not saying it's a Ponzi, but they're like well, there's smoke. There's fire. So let's dig deep into that Not the first time Celsius fell chapter 11 This was interesting the November 1st hearing that the federal judge Martin Glenn all told Celsius that they would have to include more Details and it's October 11th motion to pay nearly three million dollars And let me remind you where that money comes from That's your money and my money that we put in a Celsius to pay nearly three million dollars To 62 employees as part of a key employee retention plan. I don't know who needs 62 employees to keep a company going that's not operating With law 360 quoting the judge is saying this I was shocked When I saw the redactions, I have never seen anyone try to redact everything You know, we don't want things to be put out there. You don't want to redact highlight or Blackout spurt and sections and that's what they did and Glenn is referring to a section within the motion that outlines the participants of the bonus Where every detail length the individuals available to the public had been redacted including their salaries and job descriptions Look, you can look right now. You can see how much I have on Celsius You can see how much anybody has in Celsius because it's not public But they're like no, no, no, we don't want you to put that out because that's our employees Well, I see where your loyalties lie and that's fine So just so you know, there's a couple of people I want you to follow To keep up to date with the Celsius situation one of those Aaron Bennett And he just yesterday talked about hey, the Celsius UCC racked up four 4.2 fee 4.2 million dollars in fees in a month. Again, that's your money. That's my money and here's more Aaron's doing great work also Tiffany fawn as She reports out that according to insider sources at Celsius Alex Mishinsky falsely claimed to invest 18 million to sell Ico to track new investors, but never actually invested his own Or the VC funds was Mishinsky committing fraud as he sees currently investigating and last but not least I cannot bring up Simon Dixon. Oh, where'd he go? Ah, here he is Simon Dixon is working quite hard and it's actually Put out this video with Milton Friedman is working right quite hard to make us whole a debtor's whole And definitely give Simon a call he's been in the show a couple times and I I agree wholeheartedly with what he's trying to do And I support Simon for what it is because the other options that are out there are frankly garbage So that is it for today. So look I know there was some bad news And some good news and some bearish news But look at it this way If I ever came out and I was very bullish in a day, you better believe it's a super bullish day Because right now I'm pretty bearish But one those day when that day comes the data reveals itself I will be the most bullish person you possibly can get but I have to tell you the reality And that's just what I see So look, uh, that's it for today's news if you got to take off take off you've been here for 24 minutes So I appreciate you stopping by I really do now if you want to stick around We'll do a little q&a I'll answer all your burning questions the best of my abilities and we'll go from there So take off take off. That's good. Thanks for stopping by now. Let's get into a little q&a All right


Hey everyone, welcome back to theCUBE. The leader in live tech coverage is live at the Venation Expo. For day one of our coverage of HPE Discover 23, Lisa Martin here with Rob Stetrae, our newest analyst on theCUBE. Rob, it's great to have you. We've been a bit co-hosted together. This is going to be great. This is fun. Great, great getting to do this with you now. And I think it's very exciting. So you got to come in yesterday for kind of an analyst pre-brief. And you've got pre-brief. We've got two CUBE OGs alumni up here next. We talked with us about VMware and HPE. But you got a little bit of a teaser yesterday. Oh yeah. Yeah, it's very exciting. I think it's really good to see how these companies that have worked together for decades now. And I mean, again, really tight partnership over the years. Even when VMware was owned by other people, it was definitely still a really good relationship. And I think this is going to be a lot of fun. And these are two guys that I've known for a little bit of time. So this will be a lot of fun for them. They're talking about OGs. They all go back. So I'm sure there's going to be some inside jokes. I'm hoping during this segment. Please welcome back Paul Turner, VP Product Management and V-Sphere at VMware. Great to have you back with us, Paul. And Chris Eidler joins us as well. VP Cloud Module is a green-like HPE. Guys, welcome back. All right. Thank you so much. Great to be here. So talking about OGs, HPE, VMware, OG partners. Talk a little bit about the status of the partnership. Paul, we'll start with you. And then Chris will go to you. Well, I think it is, as Rob has said, a foundational partnership that has been now for the whole 20 years of our existence as VMware. And Rob, just as you mentioned, VMware has been like an independent company for all of about three years during that 20 years. So just as an aside. But the partnership with HPE is really built on strength. It's strength because we focus on our top customers and what is our customer problems, pain points, and we solve them for our customers. And we do that jointly. And great software needs great hardware. It needs great infrastructure and great cloud infrastructure. What you're going to hear about us today is we never sit still. We're always innovating. And one of the areas that we're innovating next is, how do we actually deliver you that full cloud experience while still being able to run in the data center of your choice on premises that if you want to? Anywhere in your choice. Chris, your perspective on the partnership. Well, I agree with everything Paul said, but also it's easier to be partners over 20 years when your customers expect you to be partners. They totally expect us to be friends, to work together, to collaborate on their behalf. And so as long as we continue to take our leads from our joint customers, which are basically all of our customers, you know, makes it a lot easier to partner. Plus, you know, the work that VMware is doing is always innovative. I've happened to believe the work we're doing is also innovative. So the opportunity to sort of put them together, you know, and create sort of many, many greatest hits packages for our customers. It's really, really fun. Well, and it's so important to follow the voice of the customer, right? And follow where they are, where they need to be. You talked about anywhere. We talked about scale anywhere a couple of hours ago. Chris, as there's been so much evolution in the last few years alone, organizations go into modern apps. What are some of the forcing functions that you're seeing organizations coming to HPE and VMware to guys help us solve these challenges so we can be competitive? You know, it's a super interesting question. And even though cloud has been around for a long time now, right? And modern applications have been around for over a decade. It's moved on from, you know, are there just two-tier apps or are there just three-tier apps? There's a whole range of patterns in applications, in modern applications. You know, they expect reliability. They expect availability. They expect scalability. They expect security. But I think what we're seeing is that mostly what they're starting to expect now is that they run on a cloud, right? And that they have the ability to interact with the infrastructure on which they're hosted in a somewhat common factor. So I think those are driving the industry, the IT enterprise to say, holy cow, I really do need to become a legit operator of an instance of multi-cloud. Yeah, and I think that really is the challenge for a lot of the IT organizations. There's skill gap issues and things like that. And so I think that really has them come back to the core set of technologies that they really get used to. And I think when you start to look at, you know, how these transformations are taking shape, really, you know, there are challenges with multi-cloud and there are challenges with infrastructure as a service. And I think that, you know, really, how is that changing things from an on-prem perspective? Maybe Paul, if you- Well, I think there's a couple of things that are kind of different. You mentioned first the app side of things. Infrastructure, we've been building infrastructure for a while, but it has to be different now because it has to be responsive to the application. The application is driving the demands. The application, that's how you're going to accelerate your business. You're going to be building applications. You're going to look at edge applications. You're going to AI so that you're going to innovate for your business. And that means that the infrastructure needs to be dynamic. It needs to be agile. It needs to be secure and trusted at all time because this is your building your entire business and your success of your business is based on that infrastructure. So really you need to have an infrastructure that is dynamic, that is agile. It is secure. It is operationally simple because you expect cloud operations should look just like you're running up on AWS. It shouldn't be more difficult. It shouldn't be very difficult to do life cycle on operations and upgrade. All of that should be much simpler, should be done for you. And so that entire change, that paradigm change from the application to the way we expect operations to be run because we're expecting a cloud experience already the things that are changing. One of the things Antonio said this morning, and I've heard this from other of his peers and leadership in infrastructure is, he said, you know, for hybrid cloud to be successful, successful integration with public cloud providers need to be there. They talked about AWS this morning. They talked about VMware. Raghu was on stage this morning with Antonio. Talk a little bit about, for customers that are in multi-cloud and so many are by default and they need to make it much more strategic. How, and I want to start with you, Chris. I want to get GreenLake's perspective. GreenLake for VMware. How are you helping customers address those multi-cloud challenges so that they can extract the most value but also make the best, most efficient decisions on where data and workloads should be based on their value that they deliver to the organization? So that, there's a lot to unpack in that question. Sorry. You know, just in case, you know, one of the things that HP does, first of all, and then I'll narrow it down to talk about the HP GreenLake for VMware VCF offering, is customers want choice, right? So they will have choice. They have choices of offerings from HPE, you know, ranging from private cloud enterprise to our strong, you know, suite of offerings with VMware and we're even partnered there. So first thing is continue to offer choice. But now what do we do with HPE GreenLake to enable cloud? And especially in the case of this offering, enabling physical infrastructure and the entire stack up to, and it's not all physical, but you can still think of it as having physical aspects to it. We've been pioneering in the industry the whole GreenLake model of how do you consume on a usage basis, on a cost basis, on a pay per go basis, your infrastructure. And so enabling the entire offering, because that then inherits into the GreenLake for VMware offering as well. So making the entire offering consumable on a pay-as-you-go, pay-per-drink kind of way is critical. You know, now we've done multi-cloud integrations in some of our other offerings as well, but in this case, this offering is really targeting the VMware centric user, right? So I think Paul, maybe if you want to talk a little bit more about what you enable for... Well, I think if you've got now an infrastructure that you're able to deploy anywhere and you're able to deploy into your data center, HPE managed infrastructure, what you're layering on top of that now is our full VMware cloud foundation, which is a full software-defined IaaS stack. And it is the same software-defined IaaS stack that you can get running up on AWS. You can get it running up on Azure. You can get it running on Google. You can get it running in your data center now with HPE and with other partners that we have. It operationally looks the same. The way you deploy applications to it looks the same, whether they're VM applications, whether they're container-based applications, whether you're trying to do a DevOps kind of pipeline and integrate and push your application directly onto infrastructure. It all looks exactly the same. So that's a really important aspect, is by putting the common infrastructure. And VMware cloud foundation is our common infrastructure element that we push into every one of these clouds. We make multi-cloud possible, because multi-cloud is a bit of a misnomer. People are talking about in multi-cloud for most companies, means they have multiple independent clouds. It's not a common operational kind of experience. It's not a common deployment experience. That needs to change. I like to say, and everybody hates me saying it, but I like to say we virtualize the cloud. It is the next level of virtualization that we've had to do. We have to go from servers to data centers. We actually have to virtualize the cloud operations so that you can have that ability to move applications, have common service, common experience, unable to deploy any of your applications of choice. Yeah, that consistency of experience must be a huge advantage for organizations in any industry as there's been, to your point, multi-cloud, independent clouds. Lack of consistency. So being able to enable true multi-cloud is to deliver that consistent experience, which everyone is going to have. Absolutely, deliver that consistent experience and also an IT kind of trust model because you're now deploying into that infrastructure and you know that I'm deploying on a secure infrastructure. I know that it implements my best practices and my policies as an IT organization. That's really important because the data center, the bounds of the data center have moved. They're not just around physical walls anymore. They include all these other data centers. Your policies need to span those data centers and that's why software-defined infrastructure is so important. Now, Rob, you had mentioned earlier about the idea of a skill gap in some companies. I get tied all the way back to what we were talking about at the beginning, but it's interesting because what Paul's talking about is actually a very complex integration of software functionality from both companies as well as ultimately some laws of physics, infrastructure that sits and hosts everything underneath it. Even our most accomplished joint customers have a lot of work ahead of them when it comes to making this into something that's super easy and that's one of the things that we've partnered with so strongly here is to make sure that the building blocks that are used to host this entire offering are common building blocks that they might be used to working. I'm talking about the infrastructure building blocks right now that they would be used to working with on maybe some of their other solutions and then as they move and choose between their operating environments, they have one less thing to worry about which is the operation of it and that's I think becoming a cloud operator is one of the challenges that we try to jointly help them not have to spend all of their time on. So from a cloud operational perspective, I'm curious where are customer conversations these days? Has that gone up the stack because everyone's trying to figure out digital transformation, cloud transformation, multi-cloud. Where are those customers? I remember there's different groups within most of our enterprise customers. We deal mostly with enterprise customers. The application teams are of course just trying to build applications as fast. They can, they just want to service experience from their software and from their deployment and their infrastructure. But the infrastructure team, the team that has to deploy it, they have a difficult time getting the resources that they need to skilled resources, managing the life cycle of the platform, being able to grow their platform on demand based on their own needs and so that needs to change. That needs to become cloud-like. What we're doing here with the work with HPE is you're getting it as a service experience. You're getting life cycle and operations managed for you. It is of course the same consistent stack that you manage but you're getting a lot of the pain taken away from you. And you then get it as a service. So it's pay as you go and as you grow the service, you can grow, you can reduce the service over time. I also imagine it's enabling those two teams to work better together because you're meeting both of their needs on the application side, on the infrastructure side. I would hope so. All the application team cares about is, is that service up and running? Is it giving me a consistent experience and is it operationally there? But by doing this, because you've got, we've got the best experts out there to help you life cycle manage and operate and run this infrastructure. We're taking away a lot of those pain points that could lead to infrastructure outages and downtime, which you don't want. You want best practices, best practice deployment, best infrastructure. It is, and it needs to be durable, right? And it needs, so one of the things that we've made sure to include in this offering is that it's a fully managed offering across its entire life cycle. So not only is it quick time to cloud, I guess, maybe I don't know if that's a real term. Quick time to cloud. Time to cloud. I like it. But it's also an opportunity for us to use modern cloud techniques to have a pipeline of updates going into your stack that you don't even notice are happening as a user of your private cloud, but it's keeping it current, keeping it's healthy, keeping it secure. I mean, that's where the ROI comes from, from investing in this type of deployment. And I think that those IT organizations have gotten used to this. They're buying from the clouds. I mean, they are, and to your point, sometimes they've gone to cloud and now they're coming back and they're looking at to go to other clouds. And also pieces of the application are stretched, and to your point, about multi-cloud. It's not that applications live in multi-clouds. It's the fact that maybe a piece of an application, maybe it's load balancers in the web server to your multi-tier thing. It is, that what you're seeing is that they're looking to this to map to the models that they're used to with the other clouds and get that ROI and same people instead of having different teams. I think it depends which they you're talking about. So if it's the app developer, they, just give me a cloud experience, give me a cloud interaction, dang it, okay? If you're talking to the IT department, they, I think it's bring me an ability to offer that to my developers, but understand the rules we have in the enterprise that are different than what the rules are for the public cloud. I don't know what stats to believe, Paul. I don't know what you get over there, but whether it's 60% or 75% of apps remain on-prem. And it's not because they didn't have the same pressure on them to move. There's just a whole variety of reasons why, and typically governance and regulatory, and reasons like that that are keeping them on-prem. And so they'd rather have an alternative that's a little bit more understanding of that environment than having to be forced into a different model. I don't know if that makes sense from your angle, Paul. No, it definitely does. I think the IT organization, as they look at kind of, the cloud experience is a little too abstract, extracted away from an IT organization because they have to enforce the policies, governance, and controls of their organization. And so what we give them is we take away the pain point of the lifecycle, the software management, the hardware management, the firmware management, right? So those things that are just pain-worth. You can still do your management of what are my templates? What's my level of over-provisioning I want to accept? What's my security policies and firewall settings and all of that? So you get to do all of the governance that you need to as an IT organization, but you remove the pain point of, honestly, managing our stuff. Because managing our stuff, we should take away that pain point from you. Yeah. So you guys talked about two decades of partnership between VMware and HPE News Today. What are some of the things that are exciting, both of you? We'll start with you, Chris, and then Paul, go to you. In terms of additional pain points down the road that you're going to be able to abstract from customers. This is it. I don't think there's any more pain points. That's it? Drop the mic? Hi, Anthony. Wow. Pain solved, gone, done. Retirement time. You know, what are the next pain points? I think that, I mean, that's a good question. You see, continuing to make sure that that 70% of those applications really do land where they need to land, which is on the portion of the cloud best suited for those apps, which is on-prem. I think the challenge in the near term is following through on the promise of what we're offering now, which is making sure that we get that operating, get it integrating with the different hyperscaler cloud environments, continuing to make it easier and easier to use. So, certain, I know it's not really what you were looking for, which is the next big bombshell, what's around the corner, but it takes a lot of work. Look at the public cloud. Some of us still think of it as new, but really it's 20 plus years old, right? They've innovated a year at a time. So, my answer would be, get our joint offerings to the point where we can innovate at a speed that is unrivaled in the enterprise in the past. Oh, there's the drop the mic moment. Yeah. Paul, what would you add on to that? I'm an infrastructure person. I love infrastructure. There's an awful lot more we can do to build much more dynamic infrastructure. If you think that the application needs, whatever infrastructure needs, it's doing an AI application and you're doing a large language model, right? It's all the buzz of the moment. I need to be able at any point in time get the GPU resources that I need, provision for me automatically, dynamically. We need to build virtual server infrastructures or infrastructure effectively that dynamically responds to those applications, aggregates and effectively pulls resources dynamically for you based on that application need. And then when you're done, freeze it all up and brings it back into the pool and re-manages it. You're going to see us redesign the way virtual infrastructure can run because that's the way cloud operation should be. That's how AWS manages. We think we can do it better than they can. But we need to build more agile infrastructure and it needs to be responsive to applications. Sorry, Chris, sounds like you're not retiring anytime soon. There's a lot to be done.  Retiring, you know. No, you're far from it anyway. Well, you guys will have to come back next year and share with us more of the innovations that HPE and VMware are doing together. 20 years of great partnership. We thank you so much for coming on and sharing with us some of the innovations and what you're enabling customers to really remove from a challenges perspective. Guys, thank you. Thank you so much. Thanks for having us. Our pleasure. For our guest and for Rob Stochet, I'm Lisa Martin. Don't go away. Two more CUBE alumni join us next. We're going to be talking about what's new at emphasis. They were featured on main stage this morning, talking about how they're working with HPE to enable customers hybrid multi-cloud strategy. You're watching theCUBE, the leader in live tech coverage.


Today, I want to talk about 5 things you should know when using the Range Mask tool inside a lightroom. I've been using the Range Mask tool a lot and today I want to talk to you about 5 things you should know when using the Range Mask tool inside a lightroom. The first thing that you should know when using the Range Mask tool is that you don't have to have the Auto Mask feature turned on. In fact, I recommend you turn the Auto Mask button off when you're using the Range Mask tool. I have found for some reason that the Auto Mask feature gets in the way when I'm using the Range Mask tool. Some weird things start to happen but the moment that I turn the Auto Mask button off, things go back to normal. So, don't have the Auto Mask button turned on when you're using the Range Mask tool if you want to have the best results possible. The second thing that you should know about the Range Mask tool is you can find it in all 3 of the local adjustments you have available to you inside a lightroom. That means you can find the Range Mask tool inside of the adjustment brush, the radial filter and the graduated filter. All you have to do is activate one of those three and scroll all the way down to the bottom of that tool and you'll see the Range Mask tool available to you. And this is really cool because those local adjustments work in different ways for different reasons and it's really nice to have the Range Mask tool available to you in all 3 of these options. The third thing you should know is that the Altar Option tool is available. This thing never ceases to amaze me. Every time there's a new feature added to Lightroom, the Altar Option button on your keyboard seems to activate something special and magical. And this is no exception. If you hold your Altar Option key down when you're using the Range Mask tool, it will actually show you a preview of as if you were looking at a layer mask inside a Photoshop. That means that your photograph is going to turn white or black instead of using the overlay mask inside of Lightroom. And I actually like the Altar Option tool better. If you've never used a layer mask before, it's really simple. Anything that turns white is going to be affected when you make your adjustment. Anything that's black will not be affected when you make your adjustments. So hold your Altar Option key down to get a better idea of what is going to be affected when you make that adjustment. I think you'll like it way better than the overlay mask. The fourth thing is as it relates to making color adjustments. Now, I've mentioned in the past that you could hold down your Shift key when you need to make multiple color selections. But I found that there's a better way. If you click and drag over the colors that you want to adjust, this will ensure that all of the colors in that range will be selected and therefore affected when you make your adjustment. I found this to be much more accurate than holding your Shift key and clicking on specific colors. Obviously, you'll find uses and different reasons for using either one of these tools. But so far, the click and drag method has definitely been my favorite. Go ahead and give it a try and see how it works for you. And lastly, the fifth and final thing that you may or may not know is when you're using the adjustment brush to make some selections, you don't have to be perfect about this. And in fact, I recommend that you don't be perfect about this. Color to your heart's content and be as messy with this as you want to. There's no need to try and color within the lines because at the end of the day, when you activate the range mask tool and you start to use those sliders, those sliders are really going to dial into the selection that you were trying to make. And so having a little bit more to work with is usually better than not. If you are getting more than what you need, you still have the eraser tool to your to your disposal. You can always activate a race and go in there and erase anything that was added to the selection that maybe you didn't want. So hopefully you found this information useful. I have really enjoyed using the range mask tool. I think that it's made a huge difference in some of the things that I've needed to do inside of Lightroom and I'm really happy that they added this in. It's also saved me from having to go over to Photoshop and make some of these changes there because now I have access to them right here inside of Lightroom. And you do too if you're on Lightroom Classic CC and hopefully you are. And until next time, have a great day everybody.


Good morning to you. Thanks for joining us on the Breakfast and Plus TV Africa on the show this morning. Presidency says an end to terrorism and banditry in Northwest is inside, insisting that security architecture is under reformation. What is the true picture? We'll also be looking at a thievery new call for Nigerians to be allowed to carry firearms to protect themselves. Is this the way forward? And we will review the biggest stories making headlines across national dailies. Thanks for staying with us on the Breakfast. I am Justin Akadone. And I am Mr Bokpo. Good morning and thank you for joining us. Happy holiday by the way. As happy as to all Nigerians we trust you had yourself a wonderful celebration and we're sure that you're actually celebrated in moderation because whatever it is you do just try and reach out to the average Nigerian. Today is still a holiday for some people because we are here yet again messy. The story of our lives right? I'm sure that it would be a conversation for another day. Yes let's not dwell on that but whatever it is I just celebrate and try and rise because tomorrow is another day for some people. Tomorrow will be like a Monday for them. Well let's just go straight to what is trending on top trending. Graceland schools is introduced again and right now they have allegedly from what we report and post we are saying on Twitter they have allegedly concealed a rape incident that happened when the students went on trip. Messy the last have not been heard concerning issues of rape of minors and schools colluding having a hand not like having a hand knowing what happened and they're not actually telling the entire picture. So it's a lot to grapple with at this time that's cool Graceland festival it's in my figure that's on the one side I mean that's an aside but most importantly is the fact that there are a lot of you know conversations following it. I don't know if you saw the letter that was written by the school suspending that the 10-year-old for involving in gross misconduct and he still brings us back to the conversation. I'd like to go through that particular letter and he says that in definite suspension it was discovered that your daughter was involved in improper behavior during recently concluded world school games in Dubai and with few with few of her counterparts willingly participating in a game that called truth or dare a game which led her and few other co-learners to carry out immoral act as a lights out instruction was given in line with our core values centered on discipline. Graceland school have zero tolerance for improper behavior and misconduct. A full scale investigation has been done and parents of all of the corporates learners have duly been notified with necessary punishment meted out on the learners. The parent gave their full cooperation realizing they need to work with the school so that the learners can be corrected and be of expected proper behavior henceforth however in the course of the school's effort to see how best we can help who was a major participant in the whole incident every effort to inform you as her parent about the incident and ensure that this improper behavior permanently corrected has proved to be futile and that's what you have I mean that's part of the letter. It continues by saying we cannot as a school condone such consequently is here by is here by placed on indefinite suspension until you as a parent ensure that she is punished adequately canceled and rehabilitated however if you need our assistance in any form to rehabilitate you the school is willing to assist thank you yours faithfully and you have the GI ZK Mrs. Head teacher signing that so I don't know how to feel right here it's it's confusing you have a 10 year old I mean 10 year old so you can imagine whoever is involved these people went to school I remember once upon a time I was in school you know the knowledge school we usually go for this competition you're supposed to have a chaperone that's what it's called right am I correct yes you're right so but how would you you even I don't understand how do 10 year olds get involved in let's even go by the letter that's been written and you said that they're willingly participated do these schools even understand the law do they understand the constitution it breaks my head and it's really sad of course I mean I don't even I can't even imagine what the parent will be going through you're talking about a 10 year old and you need to understand what the constitution says about a child a child is a child up until he or she turns 18 and that's what the constitution guarantees you know so you look at the letter first of all you find the fact that the letter even said that you know they willingly accepted to be part of a game called truth or dare how do you even allow 10 year olds by themselves children those are the those are issues you need to start asking like you have rightly said you know they go out of the country and of course their parents didn't go with them the schools should have shepherds who would actually look and supervise their children you're coming out with a letter to tell us that time they participated in the truth or dare so in all the words whatever had transpired was a consensually was actually for children for a 10 for a 10 year old I know I well it is really alarming some of the things we just see out there some of the defense and people try to give when issues like this happen these children no matter what you see no matter how you try to justify your inaction some there were still remain children they are supposed to be supervised all through the time they went out of the country you know in your name it's your responsibility to take care of the children and are you telling if they were doing truth or dare no one was there no one saw them and them allowed them and allowed them to go with such games is the system the system entirely has failed and so you have schools who have constantly because if you go to the schools there's so much that they pay parents would have to chunk out a lot of money you know to pay for school fees and what have you and it is really not an excuse I mean as a matter of fact looking at that letter it's a lot to you know deal with first you ask you you begin to make some kind of defense in the letter because we've seen we've had a lot of people making comment I haven't seen the video I've been looking out for that video I've been searching to see the video because I have had comments where people say at the end of the day it wasn't really rape so you find out that the child I would use the word a child if she's a 10 year old she's an 11 year old she is a child and that would mean that you expected to have people who are supposed to protect her and protect her interest and help her make decisions and choices up until she gets to that point where she can decide or him or her can decide for themselves so on one hand it's negligent I mean it is total disregard it is ignorance whatever you want to how they're holding their responsibility you actually feel the school did yes how do you even go about to even say oh because if you you had the part of the letter that said they agreed to it how let's look at the age now and at this point in time children cannot even go into agreements legally it's not even binding I mean what would you say they agree they cannot they have not gotten to the age of consent which is 18 like you have rightly said so how would you tell me they agreed I find I read comments on Twitter you know suggesting that it's a breakdown of the family values as in for children of that age to be involved that a whole lot came out of all of this to be involved in such a sexual immorality and so if there's anything to go by Justin family the family has failed and that's not even a conversation but we are also saying that because you have a system you have structures you have a system in place that if you have it's like the Mario game so you have different lives if one fail you have another so you have another stage where so if the family has failed you have the school if the school fails you have another structure the church is there I mean it just goes not in any progression but I'm just saying so the family feels what happens there's a school and if the school feels there's a church right or there's a mox there is another group there's something that should protect these children but rather we constantly take advantage of these children we're very negligent we put out this it is totally unacceptable so that there are two sides of a story this the on the other hand is saying that the video that was put out the video does in circulation you have video of children they were saying oh you just had but how are they recording themselves I mean what was some people say that you know have kids been very stupid and that's why they were engaging in whatever it is that they were doing but let's even look at the ages so it's just a justification for it so you can't even call it rape so you can't say it's rape because the child actually consented to they agreed to be having a truth or dare really and there was nobody in a strange land when your you know parents of this children decided to hand over their kids to you hoping that this children will be saved they will be taken care of the you know they would be protected it just shows us and constantly every other time that we wake up to the news and the reports that we have failed we have failed our children yes we have indeed the government has filled everyone has really failed and it is really saddening that this is even happening for a 10 year old and then you put her on a suspension you're saying it's not rape she was involved in a moral act because you think that she has a right she understands what she was doing at 10 really oh Justin we need to move on yes but I just have to close by saying that a whole this has actually brought a lot of things to the fore you know during that time we were talking about what children content and children consume you know and children playing truth of their and getting to the extent of getting very immoral about things and how did they even get there what are they watching what are we teaching our children how would they even think of them recording all of that but let's just move on like a messy has said or she bad joe is in the news uh just um the other day uh rena or monk reposted um uh tweet uh and that he was asking if i'm the vice president he's actually a judas judas he was trying to relate him to judas and Jesus you know you need to say Justin I like how sometimes you you just want to keep it very low but let's see what it is i mean there are posters that's been making the rounds yes especially in uh the city and we're talking about legos right now so you see these posters of the vice president who it's been put out and then some part of it you know with a very funny picture he has his hand uh his chin and there's a uh right up saying what's he called again judas judas judas and so of course if you talk about the judas story following Easter when that particular season he talks about betrayal betraying the master that's Jesus giving him that keys and he knows that he's going to sell him and take some money for all of that but not necessarily for those who are making that comparison literally there's no connection that's number one i'm not holding brief for the vice president but i'm saying that if you follow the story if you're going to link the story of the vice president and that of judas there's no connection but you want to even call it so we understand the point if you because if you look at it in this literal sense that you follow it from start to finish you will see the entire process it led to a point where he got to the garden hogged and kissed Jesus it was a moment where it was going to be arrested so but like i said it was not part of it but but really maybe necessarily the part is the part of betrayal and feeling like oh you had a master if you're going to betray then that's um uh maybe like um peter to jesus you know if you want to begin to like him peter in this particular part you just say it's a very nigerian kind of character he had to move away the way the way nigerians um played down so many things i know that there is a whole lot of tension but it could be very comical you know but then when i read reactions and when i see things like this you start trying to play down things because first what do i know so for for i think that the issue of the vice president is the fact that a lot of people or however you want to put it you want to look at it in this real sense the former governor of lego state tunable has been very supportive so you would say that the fact that you have the vice president right now being the vice president is because of him yes because of all of that the coverage being carried along however pushed him he got to the point that he has gotten to but let's also understand that everyone has a right i point exactly he has a right yes constitutionally constitutional guaranteed and so it's not such a big deal so for those who are supporting yes or not supporting it's really not an issue because at the end of the day everyone has a right to contest i mean everyone has a right to vote and be voted for so if the vice president has declared his intention to run for um you know to seek for the seat or position of the president of the country then it's okay he's asking within his constitutional right it's okay to have all of this sentiment surrounded but at the end of the day there are several hurdles that you need to overcome and so first of all which political party is he vying for i mean on the first you have to win the primaries you have to become the flag bearer of the party and it's the apc that we're talking about we know how many persons who have actually declared as persons who have come out you have wrote to me i'm a g i mean you have a lot of persons who have come out and say hey we are um going to be we want to become president we're seeking for this position it's also it's a lot there are a lot of hurdles that they need to cross first of all he has to win the primaries and in his party at the party level before he comes out you know to the public and Nigerians would always decide so i don't think it's a big deal it's not an issue i don't know why but i understand the fact that some people will feel like it's a lot of betrayal and that's okay the things that people always talk people have the right to decide whatever they want to do legally he's not done anything right some people would say well man morally anything wrong sorry so morally they're like i uh well tinnitus is principality are we talking about massive for instance for instance for instance now you um are my colleague uh you came out and said that you want to be president you know of so what's wrong with that lost tv africa and that's not even if i'm just i'm just i'm just i'm just trying to make some fun out of it but the fact is that even if i have similar ambition nothing stops me you know at at at worse i could tell you mercy i also have this um uh similar ambition like you but um i really want to pursue the bill let's just um play friendly because uh from constitution from all angles i am also eligible to contest so moral or no moral i feel um we should leave the vice president to learn and he's not a judas if you ask me we'll leave it at that and that's as much as we can take on top trending this easter monday we'll take a quick break and we'll come back and see what uh the front pages of major delis are saying this morning stay with us