Priding slash good morning. I'm Senator Kejron Hinsdale. This is Senate Economic Development Housing in General Affairs. We have a quorum of the committee, and we're starting with Moira Collins from VHFA High Court. Good morning. Thank you, Moira Collins. I'm the Executive Director of the Vermont Housing Finance Agency. I'm here briefly and without a formal presentation because I was hoping that I could give a little bit of background of my organization to maybe our newer members, and then also give some updates on some more recent programs that you all are familiar with at VHFA Ministers. So again, I know that this is repeat for many of you, but I just always think it's helpful to remind ourselves about the alphabet soup that is the housing organizations. We are one of several statewide housing funders. VHFA is unique in the fact that we do not come to the state to get appropriations. We are not a state agency. We were created by the legislature and... One of our better modes. I agree completely. See, session is starting off in the green zone. So just, again, I do know that this is a recap for many people, but that VHFA is self-supported and sustaining because of our ability to issue tax exempt bonds. And I know we have many finance committee members here, but the feds... And this explanation won't be as long as it sounds when I reference the 1960s, but this... Oh, you met seven persons? Yes. Okay, hi. Hi, nice to see you. So in the 60s and 70s, when the feds decided to create tax exempt bonding, they did that for certain charitable purposes and said, people want bonds in their portfolios and they should be able to not pay taxes on those earnings, but we only want that to be possible for certain, I say, charitable purposes. And so at that time, the legislature created four very similar organizations with these charitable purposes in mind. One is affordable housing, and in 1974, you all created us. And then I believe that same year, just about, economic development is another one of these purposes. So you created VEDA, the Vermont Economic Development Authority, and you created the Vermont Bond Bank to support the infrastructure needs of the state, as well as VSAC, the Student Assistance Corporation to serve higher ed. Obviously higher ed lending has changed over the years. In many ways, but VHP is now 49 years old and we operate by, for instance, today, we are pricing a $25 million bond, because we need more money for our mortgages and both single family and multifamily mortgages. And so today, we will be going out to Wall Street and saying, we need $25 million, please. And they will look at our stellar rating and our 49-year history, as well as our things, and hopefully they will give us good rates. And we will borrow that money, we will issue that bond and take in that $25 million. And we will promise, and I am making these numbers up, we will promise them, let's say, a 4% rate of return, which is not great, but you're not paying taxes on that, so you would accept a lower rate of return than a taxable bond. And so we will need to pay them back 4%. We turn around to our borrowers, the mortgages, and we make mortgages at, let's say, 5%. And so we live off that spread, that one-point spread. The feds limit how much that spread can be for single family mortgages. It's one in an eighth.  But that's how we keep our interest rates a bit below the market. So for many, many years, that worked great. And then the market really changed. In the 2000s and the run-up to the 2008 crisis, we actually saw more creative lending products by lenders. Outside of Vermont, that was quite problematic, and there was predatory lending, and there was real manipulation of people's understanding of the lending process, and it was obviously not a good environment. We've all read those articles. At the same time, within Vermont, we have a lot of protections in place. The legislature was very forward-thinking, and the Department of Financial Regulation has been charged with doing a lot of things to protect consumer protections for that. So with that, we did not see the same kind of predatory lending, but we did see a lot of community banks get into affordable housing lending. And so I'm going to say from VHFA's perspective, this is great, because VHFA is here to serve where the market has failed. And for the first, I've got to pick a number, 35 years of our existence, we were filling a market need because the market was not providing low-cost mortgages to folks. And then interest rates went down so low that low interest rate mortgages were not that hard to find. I'm sorry, any of us could have gotten a rate almost below 3%, definitely at 3%. And so the need for us declined a bit, and so our share of the mortgages we've been doing in the state has really declined. So we always need to look at where is the market failing? The market wasn't failing in providing low-cost or low-interest rate mortgages. It was down payment assistance. People didn't have the money to buy a home. So the legislature in 2015 created a down payment assistance program, and we've been running that ever since. And so we can help people first-time home buyers only. We can help them with that down payment assistance in the form of a 0% loan that they make no payments on until they sell or refinance. So we've operated that very successfully over the years. Now what we see is that the market isn't performing in a different way. It's stock. It's inventory. It's finding homes. In the first week of December, we were in Addison County doing a big press conference announcing the Missing Middle Income Home Ownership Development Program that you all authorized with $15 million of ARFA money last year. And in doing so, for the event, we looked at Realtor.com. And in all of Addison County, we found three single-family, four-sale homes priced under $300,000. So right now, we see that there's not enough stock. And so I'm talking a lot about home ownership. And I can also talk about that these same bonds, these tax-exempt bonds, are also issued to support lending on multifamily housing. Usually, the bigger source of money that we administer on multifamily are federal tax credits. That is nationally the largest source of money to create affordable rental housing in the country. There's two types of tax credits, and it gets confusing quickly, but those tax credits will often cover about 70% of what a project needs to be constructed. It is the go-to resource nationally. We're not doing anything different in Vermont than anywhere else. This tax credits are usually a part of the funding stack. And that's why the state's support for affordable housing is so important, because tax credits in no state in the country pay for 100% of a building. They only pay for a portion. It's by design that way. The Feds want this to be a private-public partnership. They like these tax credits that get sold to private investors who are contributing their money into the system. They also like having it set up so that then if the tax credits pay for 70% of a building, that 30% of the pie that you still need to raise comes from developer contributions. It comes from debt, so that's where our tax exempt or our loans can, taxable loans can fill some of that debt. HUD and rural development and other traditional federal sources fill in some of that, as well as the state funding. And if we didn't have the state funding through BHCB, then we would not be able to get all the money we need to build these properties. So, I've spoken about a couple market failures and how VHF is pivoted. I want to now talk a little bit about what you all have asked us to do recently in terms of you've had us sort of change our down payment assistance a little bit. I'm going to talk about the first generation home buyer program and then what we're doing to address the stock issues through the missing middle program. But before I moved to that, I'm realizing that there was one other, two other sort of base activities that VHFA provides for the state. So, I talked about how we do our lending for mortgages on single homes. I shouldn't say single family because we do lending on manufactured homes and duplexes and condos. And then we do lending and tax credits on multi-family housing. We also have a pretty robust asset management compliance department. That's actually one of the only, is that we have 42 staff at VHFA. And it's one of the only positions where we have multiple people doing the same job. Otherwise, we have like one person doing each thing in our shop except asset management compliance where we have five people all doing the same job. They each split up the portfolio of properties to where they go out and inspect the units. They are looking to make sure that they're up to code and up to these housing quality standards that they have to abide by and also that they're following all the rules of all these federal programs, the tax credits.  We have to sign off when they need to tap into those reserves to pay for broken elevator or whatever it may be. We're ensuring that the waiting lists are dealt with through fair housing appropriately and on and on. So it's both the physical and financial and operational compliance of these housing developments for the term of their loan or in the case of tax credits forever because these have perpetual affordability tied to them. Then the other thing that VHFA does is not surprising you all because you get to see it probably the most is a policy arm. It helps shape housing policy in the state and look at the housing markets that we see and the needs that we see and share that information. We do that by having this housing data website. If you go to housingdata.org, you would find an inventory of all the affordable housing in the state. The government subsidized affordable housing in this case. It's just housingdata.org, not Vermont. Correct. We got there. Just for a little Vermont. I joke that that was actually my first born baby before I ever had two children of my own and I was hired at VHFA in 2002 and I was a research analyst and nine months later we birthed the housing data website at housingdata.org, April of 2003. That website has the inventory of all the subsidized housing as well as community profiles for everyone's town where you can find more data than you can ever imagine. Some of the hot pieces that people like to look at is housing stock and how much the housing stock is growing each year or not, which is what you'll actually find. We have lists of short-term rentals and how much that's happening in each community as well as income and household demographics, homeownership costs, rental costs, and the like. Is there any data you'd like to share right now? Well, I'm talking a lot about data, so that's great. Yeah, I mean just because one of the reasons we have wanted to have a rent to registry is to get the data on short-term rentals, which we... On rentals. No, on all rentals, but short-term rentals included. And so I had not realized you had a robust registry of short-term rentals, which is basically what you're saying you have. No, it's not a registry. I have a listing of all the units that have been rented out as a short-term rental for the entire month. Right. And it's the quantity, not the addresses are worked. So you don't know them individually. Correct. You don't know their locations. Correct. You can't do it by day. I can tell you that for the town of Woodstock, I can tell you how many short-term rentals every month, going back to I think 2014. Are paying to. Every month, we're available as a short-term rental for 30 days of that month. Do you have a term for that instead? I've been trying to figure out what we can hold in the middle. But like extended stay or, you know... Because that's not our definition of short-term rental. And I think we need a term for... We don't have a term of definition of short-term rental. But I think it needs to be... By the night, yeah. And by the week or by the month. It's up to 14 days per month. I mean, we've got a very definite definition. But you don't have a definition of what's between short-term and... Right. Exactly. What's the source of your debt again? It's called AirDNA. We pay for it. It is a Spanish company that has compiled and they include Airbnb, Vio, and I need to check the... Those are the two biggest, but I know there's others. So do you know if they also, though, have the ability to drill down further other than simply the full month? In other words, are they in effect like a data broker who can cut and select the data that a customer might want? I need to look into that more because I see what you're getting at and I need to know are we only willing to pay for the cheap version and if we pay more, could we get more? It's a really good question. I do want to clarify something I think I wasn't clear on. It's the rentals that are listed in our short-term... In our data on short-term rentals. They may be rented out for one night, three nights, a weekend, a week at a time, all that. I'm just saying that the housing unit was available to be rented for 30 days. That's okay. Which is different than... I know some people on Church Street in Burlington who...  But it is not otherwise available for that month. That's what I'm trying to weed out is those episodic, you know, on Tuesdays and Wednesdays you can have my place because I travel, I don't know. People do weird things. People want to stay a weekend. But not otherwise for the month. And I just also... I know that short-term rentals, especially for some of the communities that your committee serves, are the favorite cause of the housing crisis. I do want to say we didn't get here overnight. It's not all Airbnb's fault. It is a contributing factor. There is a top 10, top 12 municipalities list. Your towns are represented in that top 10 list. So I see why you're focused on it. But if you looked at the 250 towns, you would see a real drop-off after the first 10 towns that are mostly ski communities plus Burlington. You would see a real drop-off in how many short-term rentals actually happen. And there are so many nuances to this conversation. For instance, I was like to point out my next door neighbors in the city of Essex Junction are retirees who go to Florida for three months in the winter. For two of those months, they rent out their place to warm me up. And that helps make it affordable and that home will never be available year-round for someone to live in. Most legislators are renting... And so I just want to say that this is a nuanced conversation that deserves its own testimony if you were going to do something. We are going to hear from the short-term rental clients. And they have been doing more in-depth data collection in Washington and Lamoille counties with data that their Airbnb and other platform agents want to give them to say, this is what we're doing and most of it is renting a month or more to nurses and people in transition. And so this is an example of you all laid the groundwork last year with the legislation to allow municipalities to regulate short-term rentals. And so we have followed on your coattails and through our housing data website we have a housing ready toolkit where we try to explain to communities, here's all the data. Look at these community profiles where you get more data than your eyes could ever take in. And you could get all the data. We explain how to do a needs assessment on your own. We're just going to pull it up. Okay. And then it also has... We also have information about if your needs are X, Y, and Z. Here are the policy levers and tools that are available to you. One of which is trying to do some best practices around regulating short-term rentals that communities could consider. So this is the website. And if you scroll down just a little bit, Scott, right there, you'll see you would link there. You could click the community profiles on the left. If you look at that gray box on the left, these are the types of information we have. And when you clicked on homeowners, you would see from the property transfer tax data around how many home sales, there's a worship rate by race. There is more information here than my testimony would allow me to go through. But each of these, you can click on one. Pick your favorite, Scott. Is there anything you want, like something you want to point out? If you go over to housing stock is my favorite. Housing needs would be good to look at. Yeah. And then scroll down. I'll see you next month. That one. Great of change in housing supply. This is one of my favorites. When you click on it, you could get this for your town as well. But what you're seeing here is are the decades. Scroll just a little smidgenwort. There we go. So you can see that in the 80s, we were adding about 1.8% of our housing stock every year. It was common in the 60s, 70s and 80s to add about 2% of our housing stock every year. You can see that each decade, we have been adding a smaller percentage of our housing stock. And we now are creating about 2,000 homes a year, 2,700 over the last decade each year. And that's not enough. We estimate that we need between 5,000 a year or up to 6,500 a year. And so adding 2,000 homes a year is just not enough. I want to be clear when I say adding homes, I mean adding homes to the market. I don't necessarily just mean new construction. Right. I mean that we're bringing something back online. There's adaptive reuse. But you can see on the left there, just to finish up on this chart, this is true for all the charts where see how there's communities listed on the right. I said left. On the right there's, you could select. Does anybody want to see their different towns? I'm giving you what's that's already been mentioned. I had a feeling. So if you click, yeah, there you go. There is a little search at the top. It's already on the left hand. There you go. There you go. Great. Yeah. And so... A Woodstock Village. Now look at that. You did something in the 90s, right? And so you can see... Now the smaller area you go, the more you start going, what went on in the 80s in Woodstock Village? Is that the village? The village is on the right and the town I believe is in the middle. And... I think if you went a little bit above and looked at Winooski, you'd see the opposite. Oh, you should see the increase actually. Yeah. And so... You know, there's just... There's so much here that we... It's so wrong. So this is why we need housing commissions and this is what we create. If we could go back out of this data and get back a couple of times. At this point, you know, we don't have houses. We have conservation commissions. We have energy commissions. One more back. We do not have. Most towns have houses. My bad joke is that every town has a cemetery commission and very few have a housing commission and so we clearly care about where people live in the afterlife. But that's permanent housing. And that is permanent. And it's affordable. Sometimes. So if... Can you just click the logo on the top left to bring us back to the main and scroll down a little bit. Thank you. I can bring my laptop next time. If you were to click that center, one about the housing range toolkit, I think it says you would see on the left there the resources. There's not enough time to go into all these but you can get a sense from that gray box on the left. The... We have sample charges of housing commissions. Like who should be on it? We actually really encourage non-residents to be on it. People who want to live in that community but cannot yet. We think that's the best practice. We have information about policies that should be promoted and the like. And so we are trying to promote communities but it really takes a housing commission to have these conversations. Planning commissions can't do it. They're too busy enacting the rules that are already in place and updating the bylaws and such for the next rewrite. It's a housing commission that takes that rate of focus that can really dive into all of this information that we have. Do you see us trying to incentivize the creation of housing commissions in some way and policy this year? That is interesting. I'd like to give it more thought. I will say communities have never been... Our phones are ringing off the hook in a way that they never have before. They know this. And so there are concepts being discussed. I know about housing resource navigators for communities to support housing commissions. This is where most staff outside Chittenden County do not have a community development director. They don't have folks who could support a housing commission like this. And so that kind of assistance for communities is a great thing. Just two quick things. In Brattleboro we have developed... It's an informal housing commission. There are four people on it of different parts of the community including planning folks and actually health individuals who are working to identify what is needed and what has been built. And they're doing it just completely informally and it's crazy that we needed to do it that way but it is effective. So that's one question or one just FYI. And I want to say informally but impressively because the housing study that came out of that effort was really well done and that's one we like to show other communities as an example. Good, good. And I'm impressed by what they're doing and their resources for me. We've done housing studies.  Right. But studies are good. There goes the next step and starts talking about the policy lovers that need to be looked at next. Yeah, like the gentler. I love that term and this is such a great website and you're going to get more hits I'm sure. Are you tracking the missing middle program and how that's being used? So the homeownership development program. Oh, the missing middle infant development. The new program. Yeah. This is where in Vermont we do so much right but one thing we do wrong is not better name things and when you talk missing middle, last year the governor proposed this missing middle and come from our ship development program. I don't know why I called it missing middle because missing middle is a planning term that has long been used by planners about duplexes, triplexes, four flexes that is this in between where it's not a multifamily big building but it's not a single family and that we needed to better use our space and land by encouraging that kind of density development. And so we use the same term in multiple ways. The planning term I would say Chris Coffin's team at DHCD is really the best ones to speak to that and what communities have done and they're really tracking the progress communities have made if we pivot to talking, because I know we only have a few minutes left about the missing middle income development program I could tell you a little about that missing middle income group of trying to build starter homes or retirement homes. There was a lot of concern on the income education tax about people like me who are living in a three bedroom house and there's two of us, it's the family home but unless I want to move into senior living there is no place to downsize in Montpelier and there's a lot of folks that want to sell the farmhouse that they renovated 30 years ago and move in and there is no place and you move in from a farmhouse you might want a single family so those little slab ranch one story that are starter or move down that's what we haven't built. Downsizing has a good desperate for in the upper valley. So that's what you all were envisioning when you were at 15 million of ARPA funds to VHFA last year. The fact that it was ARPA funds there were a few particulars that we need to get through with the agency of administration about eligibility of this program with that funding source so I'll say we got the final sign off and signed the agreement with the state just in late November and launched the program the first week of December but we had put our guidance draft application everything out to the world in June because we knew it was coming so developers had a good long time to learn about the program talk through, have meetings with us about would this be eligible what do you think about that and so when we opened up the application within the first month all 15 million was applied for so it went in a heartbeat it's what I recall and so we made a difficult decision that wasn't popular with all those applicants to actually leave it open for another month because we know how important the legislature was very clear about geographic diversity and wanting to serve lots of communities so we had 17 pre-application meetings over the summer and December 7 of those were with for-profit applicants 6 were with habitat chapters and 4 were with non-profit applicants so a nice blend if you remember a third of the money needs to go to support shared equity housing developments which are primarily done through so far all done through non-profit partners the applications we were talking about spread across 13 towns and eight different counties and would have paid for about 155 homes I want to be clear I'm talking about these pre-application meetings we have not awarded this money yet the applications are still open just over a third were shared equity and so we then got formal applications from 7 of those projects to cover about 90 homes in 7 different towns across 5 counties Given we're now out of town would you be kind enough to send us that update on missing income? I will say though that again the applications are still open I really want to wait another few weeks to find out what we do we're going to award these at our March meeting We're going to hear from you a lot this session but it would be great for those of us who are just sort of digesting some of the updates on policy we put in place last year it would be great I'd love to hear that I'd love to hear if you'd also send us what you've got from the first generation applications and stuff I'm going to take chairs prerogative to card a few minutes out of Austin's test results because I want to give you a chance to talk about your priorities Yeah the first generation program just as a reminder was a million dollars of general funds where VHFA was as we've had a long-standing program through the state tax credit program to fund down payment assistance loans and as I said 0% loans you don't make any payments until you're done with that that right now you can get 10 or $15,000 depending on your income the higher amount for lower income used to be a $5,000 we had it all then at all places went up and now this program we have a $15,000 grant that you can receive if you're a first time home buyer getting a VHFA loan and your parents do not own their home because what we were trying to address through this was the generational wealth that has long been enjoyed by people where the parents and again when I come to give formal testimonies on this program I can speak to in VHFA's experience how many people have the benefit of gifts from parents when buying a home through a down payment and that it's quite a bit even for the low income folks who come to VHFA they often will get gifts from parents and this program was meant to almost be that proxy or that replacement when that's not possible because a parent doesn't own their home there's also a small carve out that if you've been in the foster care system you're also eligible even if there is a parent who technically owns own so we were instructed by the legislature and very happy to engage with BIPOC led organizations and constituencies as a part of this here's another example of a program that we could have stood up June 1 after you all passed it but we decided to hold off and not open until November because we really want to make sure that these organizations and this focus that we heard to make sure that people were aware of this program and how it was going to work and get the engagement going that doesn't come to us with applications these are individual mortgages and so you just go to your lender and you say do I qualify oh and I have here's a purchase and sales agreement and it happens in that moment we don't batch home purchases like we do with this missing middle program or larger funding awards instead they happen chronologically as people have an opportunity and so there was no way for us to put it in front of the list anyone and so we did that outreach and engagement it was I'd love to speak more to it it was a great learning experience for us I will say we did not have the robust network of connections with these groups that I'm embarrassed to say we should have had years ago and yet through that we have now formed some great trusted relationships and it's clear that while and I think it'd be important to have people speak for themselves but I'll say from our side of the table of what we were hearing from organizations one they were a bit overwhelmed by how many pieces of legislation asked for them to be engaged with and that is a burden that honestly we need to reflect on two $15,000 down payment is great it does not solve it is not going to solve the racial home ownership gap that we have in our state there are many more complex measures that we need to look at if we're really going to address that like the ones in that book like the ones in color law and then some and so there was when I say that I think we've gotten to a point that we've had trusted conversations VHFA had to be comfortable saying you know what we get that this was a first step I think the legislature knew that this was a first step we're in it for the long haul we'd like to engage in the further conversations this is been practicing in a certain way for definitely decades I'm going to say hundreds of years we are not going to solve this in the next three to five and so it's going to take some new tools for us to look at if we're going to really revolutionize a system that has structural racism embedded within it and so that is a much bigger conversation but we do need to be looking at all the steps along the process and not just down payment or not just that final piece we need to be looking at a lot more than that and so I think that VHFA is in a unique position to convene some of those conversations we work with all lenders in the state banks credit unions mortgage companies everyone who works in Vermont is eligible to be a VHFA participating lender they are not all participating lenders they have chosen sometimes to not bother with offering VHFA loans that is fine they have business reasons I actually know a bunch of those reasons and I don't think they're bad like they're not wrong to not want to offer our products sometimes but I think that because we can offer the great programs that we do with the payment assistance the first gen all that I think we offer something unique and so having the state use VHFA as a vehicle for convening conversations for bringing together the lending community and other communities certainly marginalized communities in the state I think we would be welcome to that we are on our own organizational and personal journeys in this we are a white led predominantly white organization that comes to this very humbly but with an interest to serve and to learn with the state and so that anyway so we can talk more to you there I would love to see some of the data that I think I've just alluded to data thus far that others may know we only have 18 black homeowners total in Burlington we have the fifth largest racial home ownership gap in the country it's in the low 20% for black Vermonters and the mid 70% for white Vermonters that is a huge gap so if you want to come in with some of that data and if you want to if people in the group you've been talking to would feel affirmed by sharing your story with us we'd really love to have that as we build a housing bill yeah and I just want to tag on that we knew this was just the beginning with this piece of the bill an important first step and I'm very eager to learn what you're going to learn as you roll this out more today and how we can help create the tools that you're going to need to help us over time you really whittle away at this challenge and have my testimony ready about the I guess my question anymore is are you going to have specific recommendations for us for this year or probably next year on how to improve and build on that tool or recommend other tools you know I want to be honest and say I don't even know if there's a coalescing of agreement around the tools it is so much more vague and hard to pin to a wall like if the question there's this eagerness of wanting to do something and I'm not sure we're at that stage right so that's part of why I'm asking you is I mean and we need your recommendation whether this is even working and worth continuing to finance because we're going to have to continue to finance yeah so I guess that's one question is is this worth keeping on and seeing where we get with it and then either this year or next would love to hear additional things we can do to it because we are going to need tools to whittle away at this it's not if we don't provide more tools to you know to to attack this problem we're just never going to get there so you know whether it's this year or next I don't want to leave the witness here but there are also tools that serve to take away the opportunity to create starter homes duplexes new housing historically been marginalized or had wealth you know depleted from your community you need access to a home that you can afford which is exactly the bigger picture question yeah very quick thing we can help get the word out if you have materials you can send into the legislature legislatures and we can help get the word out absolutely I will follow up with that I will say to make sure I'm clear about this first gen program it was before the new year that I last asked but we had two reservations right now this money is not flying out the door two reservations and the reason is there's no homes I'll rate you a $15,000 check it's a grand it's not hard to qualify for it there's not the homes to them find within our purchase price limits where VHPA is a lender so it is all interrelated and the last thing I'll just put a point in saying I'd love to think more about what those next steps are and I will take that under advisement I think there's a real question about if you wanted to support such things through again a white led organization like VHPA or if you wanted to hear from the land access and opportunity board which is a kind of led organization and start to really question if there's more partnerships that is led by people of color in this where VHPA can be a supporting actor in that part we will absolutely have you back in the question is do you want to come in next week we could probably make time for that but you're right it reminded me I want to make time for the professionals of color network in the land access and opportunity board and I just want to say for everyone's reference that you know Mara is going to be a partner on drafting our housing bill this year so she's been a critical partner all the way along yes we appreciate you I feel like this was a little all over the place so I guess I just wanted to reinforce that I am here as a partner and available I'm happy to give more updates on some of these more recent programs as well as any other of our long standing programs you may be curious about and thank you also for the housing conference this fall I thought it was terrific and it was on a couple things and I'm delighted to know we're moving forward on some of the zoning work yes the mapping I understand we're doing that separately past your graduate on to the people who actually did the conference they were great you were our hostess so thank you and I would say that especially if Senator Cummings and I include Senator Brock as well we're trying to figure out how to make sure we get the housing and economic angle in here and the finance and tax in finance since you're going to see the three of us quite a bit yes and I do think that there's and this is a perfect sideway to Austin because I don't want to keep taking up this time that we are hearing when I say that the phones ring out from communities the next most common call are from employers who every week or two we're seeing a new article about employers who are forced into the position of needing to go with their own build their own darn housing because they can't find it in the community that's a hard call for us who's supposed to be that housing resource and so there are some new tools we've been working on that would support employers specifically where revolving loan fund where the affordability provisions only last as long as that loan it's not perpetual it's not that deeply subsidized but just something where if an employer wanted to contribute something toward housing we would have a companion government sponsored easy to access development programs that would make their money go farther through a public partner and we're again that's exactly it so I'll let Austin maybe speak next about what he's hearing from employers thank you I don't know why no one wants to fancy chair but we haven't it was supposed to be only this chair but people are so used to it


Everybody forced here ripping the sports card Almanac ultra high-end multi-sport volume 9 case 9 Double minds a live hit draft style a couple rules before we get started here during this break Please no discussing card values at all and no influence in the draft two minutes per Pick on the live hit draft here if someone's not able to make their pick I will have to do so for them the best with best available card to my abilities We're not responsible for picking the perfect card for you I'm looking at YouTube and twitch chat. I'll be communicating verbally and typing in the chats as well What else what else what else If you're making your pick, please include your zip code You can also use order number just specify which one you're gonna use if a specify order number if you're gonna use order number We you go usually go by zip code, but if you want to use order number, that's cool, too Ten cards ten draft spots. We're gonna random now to determine which case number we're gonna have We just have cases number nine and number 10 left Just weird that it ended up that way and then we'll do another random for the draft order We'll randomize the names and the numbers the same amount of times put them side by side And then whichever number is next to your name. That is what pick number you have So numbers one through ten and then the ten names Let's do the random now to to see which case we're gonna open again numbers nine and ten on the dice and we'll reroll for the The the draft order random ten times one Two three four five six seven eight nine ten Case nine on number nine. I didn't do it. I didn't do it. So that means case 10 will go 10 One me seven was seven to So hey, hey, whoa, look at the randomizer.  Good luck everybody one two three Four two down to one put them side-by-side and see who's got which pick There you go Landon G with pick two Brian s8 Dan Emma pick five George m6 ZC has seven Eric W picks three and four Brandon p10 Brandon G nine and Ben H with the first pick Let me get those posted and we're gonna get started in jaymark on set guys Let's do it now. Let's do it. I'm an act channel We'd have to hire like another team to build Almanax Lane's just one man. All right Eric to top five picks again. He is having some major luck tonight I think we've had a run where Eric bought a couple spots and he picked like ninth and tenth both time both times though Sometimes sometimes it's your day sometimes it's not all right you guys 20 more cards on the run. We've got 10 of them coming up Break nine case nine volume nine. I got a magnet card up first Leading sports cards instant redemption Lamb bat Lamb what's it gonna be? What is it? All right, here we go. Oh It's a book. It's a flawless rookie Nike swoosh auto book CD lane am Numbered two of two Heck yeah, man CD lamb two of two rookie Nike swoosh book from 2020 flawless football That's beautiful man. Love the the ruby foil. It's not a color match But it looks good with the the cowboys colors there. That's gorgeous hot start hot start Yeah, lean is watching an agony currently I Okay All right great first card there a whole CD lamb signature is what that is what it is What's that? 2020 impeccable 2020 right yeah 2020 rookie elegance Patch and helmet relic auto Justin Jefferson two of ten.  No you guys don't want to see that You guys don't want to see top two twenty twenty one or twenty twenty receivers right there. Okay, not their mags card. Oh There's been a lot of this player tonight hasn't there Immaculate collegiate immaculate rookie auto one-of-one Trey Lance Dude the Lance cards coming out here North Dakota state bison there is a folded penny sleeve in the back of this card to keep it in the mag more snug That is why that is there Twenty-twenty one. I'm at collegiate Trey Lance rookie auto one-of-one, dude Holy cow football case so far football case we're getting closer to the regular season. Thank goodness College started them. Yeah, let's see. Well a football trend continue. I don't know if I know Lane It's not gonna be all football. You can't be right. Well, this one's certainly What the hell is that?  I Am a sucker for sterling that one's twenty twenty two sterling Soto in a cunea Quad relic auto good Lord one of five that MJ will auto one last night. Whoo Good Lord. Yeah, MJ UNC did go last night. Yeah, but Dabba do is correct. That is that is appropriate Vaughan That's a chicken parm right there. Yeah, that's a chicken parm easy That's correct KJS. That's correct 2,500. Those are good baseball players. This is a good football players, too That's a Mags card. I don't even know what that is 76er whoa rookie auto Joellen bead one of ten From what we're getting 1415 flawless basketball Look how different he looked back then dude He was a freak coming out of college so good Joellen bead one of ten rookie auto from 1415 flawless basketball Holy cow What is Lane doing dude? What is Lane doing? By the way Oh No, it hasn't been pulled yet actually it has not been pulled yet. I'm so it's it's it's coming it's coming soon. Oh my goodness God that's awesome, man 2018 select Luca Doncic rookie die-cut blue prism PSA 10 on the die-cut Numbered 170 of 249 PSA 10 on the die-cut Good God blue color match Mavericks Yeesh This is a young man's case right here All all these players so far. I mean and beads probably all it's easy. He's still young PSA 10 look at die-cut blue prism good Lord, dude 10 on the die-cut is just unheard of you got these all these little edges in here Holy cow 170 of 249 Yeah, die cuts are whether not valued as high typically, but like I don't know why I love die cuts Freakin sit car Yeah, no, yeah, you can do what you want. It's not here also Where do you say it? It's also wrong. That's another thing All right, what's this?  I'm not gonna you look at it. Come on. I'm not gonna let them look at it Board lettermarks Tiger Woods auto 10 of 15 SP game use golf 2013 That is a nasty Tiger Woods auto letter to oh man Tiger, baby. I would have worn my Sunday red if I don't want to pull this thing Sean is gonna hang on to this Holy cow dude 10 to 15. That's so sick. I Don't know how to top. Yeah, you're not top. You have a dabbadoo. You have a dabbacant You you you have a dabbad your last dude Vaughn way too early Right tied this together Prankster Back to the football 2020 mosaic Justin Herbert rookie auto mosaic fusion red Choice PSA 10 the red choice is non-numbered beautiful Herbert PSA 10 rookie mosaic auto Young man football case that's what this is Oh Man What a case Choice I guess yeah, man What is this? This one's dummy thick. What is that? the goat Homecourt signatures for 2012 2013 SP authentic Michael Jordan 95 Gem meant 10. I mean This case is wacky. This case is wacky. Dude. Blaine is Blaine for sure had to have made a mistake. That's insanity That's a sanity Subgrades nine centering nine five corners nine five edges surface got a 10 such a really cool car design Really cool car design so sick Yeah, I get you hunches. I get you We got another late in sports or instant redemption two in the same case.  Oh Oh What is this huh? 2021 playbook nexus trifle jumbo jersey premium and Rogers Josh Allen Patrick Mahomes the second That is a one of one oh My god You got the collars from the Rogers and the Allen with the shield on the Allen and a Mahomes swoosh Unfreaking real eight five on the grade edges surface corners eight five Nine five on the centering. How do you grade centering on something like that?  How does that go on a card stand first of all? Yeah, I don't know how you determine a value for that. It's a lot I just don't know like where like where do you start? Um Says player one. I thought it was game worn Lane said the triples game worn. That's what he texted me. It says player one right there player one slash used I think it is it. I mean glint Lane would know Freakin crazy, man Freaking insane. That's gonna be a to a to a to carton stand thing Man We were talking about variety all night This is some variety this thing Dual card stand Yeah, I'm probably gonna put it in the back actually It is like buying concert tickets and sitting behind shack. Yeah, I'll put it in the back there And then we'll start the draft guys just Wild Okay, two minutes on the clock. Let's cut the chatter again. No discussing card value is just an instant ban at this point We're on the ninth case Y'all y'all get it pick number one Ben H Ben H pick one Two minutes start and right right meow There really is not a bad choice look Look at your screens right now. There's tiger MJ. You got Fantastic rookie football player football cards and bead Luke up for basketball. You're Cunha and oh, no, man. I don't know man Ben H may be unconscious. He might have passed out dude Preparing to make this pick All right, Ben H is timer just about up actually. I had on the one minute.  It's going with the Jordan big congrats Ben Going with the MJ home court SIGs 9510 What a great pick man Happy for you, Ben Happy for you. Sorry. I put you on the one minute timer. That was my bad Next up Landon G Thank you for joining Ben congrats on the Jordan Landon G With pick number two Hey, have a go on Carol Thanks for hanging out enjoying we appreciate it Thank you guys all for hanging out and enjoying this is why we do it man. You love cards This is a this is about cards man. Look at all the unique look at everything that's unique on your screen right now It's off the board triple quarterback book Dude you want to talk about like people like to display their cards This is like something that would just grab anyone's attention anywhere one of one from 2021 playbook, dude Holy freaking cow Number three is Eric W. Oh Eric W has picks three and four I'll start a four-minute timer for Eric then he's got two picks And I see the tiger up close So it is the board letter marks auto 10 of 15 letter 2 It's from 2013 sp game used golf. There is a sleeve a penny sleeve in here to keep the card more snug That's what that is the edges and stuff. That's I can Just this is a stunning guard I go link letter to 10 of 15 Craziness, so what tiger first first pick and since you I mean it's back-to-back picks I'll give you that I'll give you the full three minutes left Eric Eric picks quick though, so we're not worried about that Go with the tiger to Again Sean's gonna borrow that I'm skin. Yeah. Yeah, I'll be back All right Yeah, of course 2020 panini mosaic Fusion red choice autos is from mosaic choice The red choice is non-numbered and it is a PSA 10 the auto is not graded, but it looks pretty good It's like a normal Justin Herbert auto Get non-numbered red fusion choice Slab look there good looking car man guys pretty good at football Lot of football left actually on the board here and anything else you want to see Eric Yeah, it's kind of cool to see some of those a book with slabs. It's kind of it's kind of interesting About a minute and a half Eric minute and a half I've seen some of them where it's like a dual fold book and Beckett has like a Picture frame size. It's a sanity Thanks, David. Thank you David. Thank you. We will have personal almanac Next for almanac run. I wouldn't have a specific timetable on that But yeah, personals will be a lot of fun So it works the same you just get you bye-bye personal box. That's it And we'll post pictures like chase cards and stuff as well Herbert Go with the Herbert great couple of picks man Congrats Eric. Grats again, Eric. You have done very very well tonight Let's see if I can get all these Lucas kind of squeezes Dan M. Dan M.  Well, I don't think so. It's a lot for personal boxes Last time I did personal almanac. It was a like a Little under 400. I think it was like 375 or 380 Damn, and I say with them Lucas number two The Luca is numbered 170 of 249.  What's going on here? My chest not even showing up back here now. I'm about to just mod somebody for the rest of the night Steven G. I just modded you.  Sorry guys, I wasn't paying attention for a second. I'm sorry, Dan. I don't think I missed anything. There we go. There we go. Perfect Is there another one? Is there a different one Dan? You can use order number two if you have that in front of you, but we have we have something different But he wants to go with the Jefferson.  You can also use order number That's one man, right? Cool. That's it. Thank you Dan. Congrats. That's a beautiful card man. That's And a case full of stunning cards. I might be the most stunning. That's Beautiful color Guys, this is why we do members only chat outside of times like this.  It's not watching Yeah, and a for being a I can't say that word actually All right, george m got about a minute left Well, thank 98% of you for being cool. It's sam. I knew it. I knew it All right, george m has about 30 seconds now I knew it ever since we told him chips ahoy aren't good I I could see it coming a mile away my chat's not refreshing any time All right, time is up for george m Famous amus is pretty good. I'll give george a few more seconds here. I just typed in chat. We'll see Yeah, it happens Dean Okay, I do not see a george m. I'm looking at the email right now I'm gonna make sure I'm missing anything check spam folder. I don't see anything so Gonna pick For george m I guess so well George still gonna end up with a dope card. Yeah, good god, man I don't like being put on the spot and I didn't know how it feels Uh, especially when you pick for somebody else. All right, I gotta pick for george. I see no emails Yeah, I'm going without luke for george Yeah, blue luke a prism uh die cut prism from select color match ps8 10 172 49 some people can't make it. Um, some people got stuff going on man. Everyone's got a life Yeah, well Judging my chat. I uh That might not be true actually George probably has a life though. See the lanes boards cards customer Zc is up picks number seven. I give plenty of time guys. I check the email Um, I look at both chats This is why I say if you're making a pick test it beforehand, man But george probably just put in here zck picks seven and I believe someone in twitch is going to pick for Zc so Yeah, yeah, so george is gonna pick for zc. Okay, he was saying so earlier and they have the same same last name So the imbeat is a 14 15 flawless Rookie auto one of 10. Oh, it's okay george. I hope you I hope you like the luke That's what I picked for you man It was the it was the the best value available. So that's what I went with Yeah, don't worry guys. We're having a good time Dwell and bead one of 10 rookie out of a 14 to 15 flawless basketball always a good design on the flawless Yeah You're gonna go with the imbeat just need the zip george Ordinary whichever one you want The thing is is like those chats aren't even shown up on the restream for shawna and I we have to go to youtube to see those Basically for zc. Yeah. Oh, I'm sorry. I'm sorry george There you go. Yeah, george picking for zc. Okay. Yeah, see that same last name. Yep. Yep. There you go Thank you george for picking for zc It's a sweet pick man Should have been MVP no disrespect to The guy who wanted but yeah Ryan asked pick number eight We've got Two one-on-ones in a card number to five or no number to two number to one number to five. Sorry There you go Soto and akunya tray lance and cd lamb See the lance. Yeah, that's that's so it's 2021 immaculate football immaculate immaculate collegiate rookie auto one-on-one tray lance So I'll kind of show the corners here quickly Yeah, george. Maybe just like watching me Go to the extent that I have to make the lance Go with the lance. Hey, thanks julian. Congrats julian and congrats. Congrats, brian Tray lance rookie auto one-on-one from imac collegiate To sit card and again, that's just a sleeve to fold it to make the a little more snug on the mag That doesn't wiggle around Well, he knows what he's doing. I'm not questioning All righty brendan brendan g The last pick of the break brendan g Starting that timer right now So I'll show these cards again real quick soto and akunya one of five um multi relic dual auto Game one on sterling 2022 sterling in 2020 flawless football rookie swoosh patch auto book 2 of 2 cd lamb The lamb is not game worn. It is Not for many specific gamer events Yeah, so there it is right there Not from any specific gamer events And then uh sterling is game is game used on baseball there This is a freaking tough choice too, man About 45 seconds brendan at thomas Well, I'm for sure making brendan pick. He's in chat Soto akunya Going with the soto akunya And I do not blame you one of five Quad rally dual auto That's nasty, man.


Hello! We are KS Architects and we are disrupting the way that we build our cities. When we talk about the smart city we normally refer to IoT, robots, applications, but we forget one thing and that is people. We are underusing your creativity. We don't focus on you. So it's funny because a smart city, a 1.5 trillion industry is working this personally. It's very good at collecting data. It's very good at tracking, but not good at listening. At chaos we listen and we turn your voice into business intelligence. So this is very scary but it's quite simple. We are building a closed service that is powered by artificial intelligence. We collect data from people and open sources and then we create new data that we sell for business reports. Also, and what makes us scalable, is that these we sell to other parties. We open our APIs for them. So our mission is to become the de facto smart city development platform. So what does this mean really? Is that we gather data, we analyze that, and with this through artificial intelligence algorithms we're able to forecast the future of cities. So we can tell you if a development project is going to be successful or not. Concretely, this means that for our customers we are cutting up to 30% time on developing process. So we start with very basic ideas gathering cities and engagement. But overall we can deal with pyramids, engaging people, engaging with networks of stakeholders. So we are very easy to work with. We work with licenses and we work for cities, developers and big data players. We arrange our licenses range from engaging citizens up to machine learning services. For people we're always free. We're different from our competitors because we not only deal with big data or not only with people but we actually combine both. Our team has expertise in architecture, urban planning, business, marketing. But I know also that we are creative. We are a very strong team that makes things happen. We have a booth right now in Slush. So if you want more information about us, visit us and download Happy City from the Google Play Store. In December we're going to be closing our second round and we need more investment. If you are interested, come and talk to me. Thank you. So this was actually the first time I heard you guys' pitch and I know that we have offices in the same building. I'm having a bad conscience. But I've heard good things about you. I think I know something from the construction industry. I'm in the board of a big company and I don't know how difficult and slow industry it is. So for me, you know, I love the thing that you do but I'm a little bit, let's say, bothered that you don't have a kind of spearhead thing that you're taking to the market.  So could you explain why you're doing all the things that you're doing? Yes, if I can go back here. So the closed service here is our competitive advantage. No one right now is in the real estate or building department. We are just speaking about smart cities and actually cities and developers are investing a lot of money there. So we are the ones, first ones, gathering data. Our spearhead is people. So our user interface for them is happy city. But I think and I believe here that with this data that is spread all over, we are really going to join everything together and then sell this APS for them. This is very valuable information but not only for developers, which is an industry that moves a lot of money but also for big players, like retail services, Google, whatever, it's just crunched data together. No one is actually taking the time to do that now. So is it all your own data or are you also bringing in? Because I mean, it sounds like happy city is a sort of survey tool effectively. But what other data are you bringing in to your system? So it's different partnerships. Right now we have open data, which cities are opening, but we also have partnerships. So for example, we have some partners that gather data but they don't know what to do with that. It's not useful for them like that. So we combine different layers of data. Happy city or people for us represent around one-third of the information. So it's not essential but we gather that. So the business here is the APS that we sell behind. And how are you planning to scale this? Which is the first city to start with and how do you want to roll it out? Yeah, we have now some talks with, for example, New York City and Finland and of course, the Nordics first. But then we have to be in these four runner cities. We have a lot of people and a lot of citizen engagement is needed. So these kind of things. And developers have a lot of headquarters there. So that's our scaling strategy. But I really want to emphasize here that the opening of APIs can be for any company. That gives us a competitive advantage. Can you say briefly, you mentioned that the app is the real spearhead. What is the information you collect? Are you happy or not? Or is it something more deeper than that? What's the right question to ask people? That's very interesting. We actually, if you want to change something in your city, you take a photo and with augmented reality, you select from a group of catalogs and then send your idea. We collect demographics from you and then we give you points every time you do this. The interesting thing here is that with the data that we gather, is that every time that you send an idea, we get pinged real time. All the stakeholders, the ones who own the land, the ones who want to build there and say, hey, an idea just came to your territory. So you have to do something about that. Okay. So one third comes through the people who collect you the data with the ideas, give you the demographics and so forth. Are you able to, let's say, somehow intensify the data collection? Because in a way, the way I see this is that you should kind of be super fast in building that data asset and then kind of monetizing it. Because of course, the more you have, the better it will become and there will be more opportunities. So can you talk about that one third, the rest two thirds? Yes. So right now, as I mentioned, we are in partnership with some other providers that I can't say no. Can you give an example? Yeah, for example, real estate. So we know who owns the building. We know how many persons or stakeholders, developers are interested in that. So that is one information that we currently have or transport, for example. So when you combine that with people and with people feeling happy really in those apartments, then you create something different. Yeah. Maybe last question. So how do you want to finance that? Because I think the problem is a bit you will need kind of a lot of money to build your products, together all the data that will take time and you won't be able to show crazy traction for the next one or two years. So how do you think about that? So that's why we are focusing in the APIs. Like these data already exists. It's just a matter of gathering and crunching to them. What we're doing with Happy City is just being an interface. Like Google does, you just enter our question and that's it. But Google does a lot of things behind. So that's how you do it. If I can add here, Pokemon Go did that. So they gather a lot of huge database behind and then they launch these Pokemon Go. Yeah. Thank you. Thank you. Thank you for listening.


Welcome to the CUBE's coverage of KubeCon EU 2024, live from Paris, France. Join hosts Savannah Peterson, Dustin Kirkland, and Rob Stratche, as they interview some of the brightest minds in cloud-native computing. Coverage of KubeCon cloud-native con is brought to you by Red Hat, CNCF, and its ecosystem partners. The CUBE's coverage of KubeCon EU 2024 begins right now. Good morning, cloud-native community, and welcome back to Paris, France. We're here at KubeCon cloud-native con. My name's Savannah Peterson, joined by my fabulous analysts, Rob Stratche and Dustin Kirkland. Gentlemen, day two, how you feeling? Awesome, fresh, fresh as the daisy. Ready to go, let's do this. Freshest Paris morning in the springtime. Absolutely, absolutely. No, I mean, I think it's been a very energizing morning, that the keynotes have just wrapped up and what we saw was some great news around sustainability. And funny enough, something I kind of hit on a little bit harder than I expected to yesterday afternoon, but a Kubevert, and running VMs on Kubernetes. We had Goldman Sachs on stage talking about that. With Red Hat, we had numerous sponsors, including Deutsche Bank, talking about sustainability. In fact, I think sustainability was the big topic and how to develop sustainably. I think one of the things, and Dustin and I were briefly talking earlier, that it's one of the things that seems to be really in flux is how do you deal with AI and sustainability? And I think that's one of the big ones. And I know you had some thoughts on that. Yeah, the sustainability thread was common across all the keynotes. I'm sure that was an orchestrated theme here. What's interesting there, though, is man, it's hard to talk about sustainability and the power consumption driven by GPU. I was just going to say, GPU and sustainability is not. And I think rightly so, blockchain and crypto has gotten a fair amount of flack about how much of the world's energy is spent mining coins, okay? Now, if you're not mining coins with GPUs, you're probably running an AI ML workload of some kind. And I think we got to think a little bit about whether, if that is worth, if the product that is being produced by those ML workloads can be sustainably performed. I don't know. Well, it's also about optimizing it.  Well, it sucks way more power when it's running, less when idle, but some when idle, for sure. So utilization, that's a piece of it. And then running as efficiently as possible. We heard a little bit from the ARM folks on the stage today about, that takes care of part of the problem, I think. But the CPU is not drawing the power. The GPUs are drawing the power. And I think also, and I think part of, yeah, I think that's, some of them had gone into the fact that storage was a big component of it, but it was also about, hey, how are you planning for high availability? And I think that it was really interesting how they were going through a number of these different high availability strategies and what they were still not seeing between how you use auto-scaling and how you use actually these different CPU planning tools to go out and do that. But then there was the back end storage, which moving to non-spinning disk definitely helps, but there's still a ton of spinning disk out there. So I think that's an interesting piece in a way that they were going about it and the string that they kept pulling on, so. Obviously a conversation around sustainability and I love that you brought up the blockchain piece was a part of that movement and it's true. Those are really our power-suck moments. So yeah, we're talking about it. How are companies actually going to do this? Is it possible or is this a bit of a myth? I mean, it's a great talking point for a keynote. I think you're right though. Right, I mean, love the lip service and love the planning. What are we going to do about this? But there are a number of projects. The ElephEnergy group is looking at this. So there are a number of projects going down. I think it's still really hard. And in fact, I thought that Deutsche Bank, who was a sponsor, who was up on stage showing some of their dashboards, I thought they hit on a very interesting point. And when I left Amazon some number of years ago, they literally came out with, at Reinvent, a carbon footprint tool. And my whole thing was that I thought it was a little bit of greenwashing. Well, Deutsche Bank, now we're two plus years or three years out from me leaving there. Deutsche Bank basically laid into all the cloud providers saying their carbon footprint tools are not sufficient. And that they've gone out and built their own and started to do that, but then they showed the architecture for it. And it's a lot of gear. It's a lot of containers. So I think there's a lot of different vendors that are kind of aiming at that and to try to provide that as a really how to get sustainable. There's got to be more done in the community. There's a lot of different approaches, right? There's the one piece that we have some can, I say we, the people who are part of the cloud native computing foundation community have some control over is writing code as efficiently as possible. You can write your code inefficiently. That consumes way more CPU, GPU, disk storage and whatnot, we need to do that as best as possible. With the silicon vendors do or choose to do or can do, that's going to be largely driven by their customers.  And then on the backend, the cloud operators, energy credits, sustainable energy initiatives. I spent some time at Google with a number of data centers that are carbon neutral. And the way to get that is consuming energy from renewable sources, but also buying CO2 offset credits where possible. It's going to take multiple layers. It's messy. Yeah, we actually had a conversation at Supercomputing in Denver, about a company in Denmark that's using, they're actually heating Copenhagen with the power, like liquid cooling quite literally, and then taking that liquid and then heating it. And it's a nice way of regenerating that and using that power consumption for good and creating a commodity for the community. And they actually had one of the local providers who's here in France and has data centers here in Poland and somewhere else I can't remember, but, and they were talking actually, another thing that doesn't get talked about is water, and the water consumption and things of that nature. And I think, to your point about GPUs, the Iowa data center for Microsoft, where chat GBT runs, for every five queries or every five prompts is 16 ounces of water. Wow. Glasses of water, which is insane. So you start to look at it. There's a lot of measuring management better. Like you said, there's another Tigra who's another service provider up in the Nordics. They're actually building into mines, abandoned mines. That's where they're building their data centers to get ambient cooling. So I think it's going to, it's got to be in all of the above strategy. I tend to believe and talk to people that the credit stuff, what the hell's a credit? Where does it go? How does it really get applied? It doesn't take carbon out of the air. It's a nice thought, but I think when you start to look at it, and I think organizations, especially here in the EU are starting to hold people more credit. It transfers the responsibility. The credits programs transfer the responsibility. It helps others invest in sustainable initiatives. There are ways of taking CO2 out of the atmosphere, but it's very expensive to do so. And so that's not something that can be done on the cheaper free. Yeah. No, not at all. I mean, and I'm glad that maybe that'll be a theme of our day today. We've got some really interesting guests on. We've got Scott from Docker. We've got Microsoft. We've got more guests from Red Hat. It's going to be power packed. Absolutely. And I think they talked about Wasm was another one and talked about SpenQ. Yeah, we got a Wasm panel. And we'll have that, talking about how they're packing more in, using actually SpenQ on Kubernetes and packing in more smaller applications and being to your point about more efficient compute and more efficient development. They were looking at that. And that was a little bit of a message as well. So get a lot of fun. Well, so today we're doing our swag segment tonight. Have you seen any cool swag out there? I haven't. This is a pretty swaggy event. Yeah, absolutely. There's socks galore if you want to. Chronosphere made me a pocket square. It's going to be really hard to beat that. It's fun. Yeah. Yeah, I know I feel bad I don't have a jacket on today to show it off. But anyway, what do you think is the most surprising thing about the show? Hot take, huh? Yeah, hot take. What is your hot take? It's time for that. Starting day to super fresh. I think again, I'd just go back to what I pounded on yesterday, which was security, moving SecurityCon out of the main KubeCon and making it its own thing has kind of forced people to get in. We were talking about one of the people saw a huge line for a security, one of the few security tracks that was going on. Yeah, yeah, yeah. So I think the fact that security kind of got separated out may be a miss and maybe it should just be a co-located thing. I don't know if how that works out, but I think that to me is, that's my hot take for so far for this week is that security is missing. Yeah, I'd like to see a lot more security focus for sure. I, you know, if we look at the discussion around AI ML, I think it's surprising to me that it's still, that it's still so front and center. We spent all day yesterday talking about it. It's almost like apps going on the line in the late 90s. Like at some point being on the internet is no longer like a badge of pride. You just, you were on the internet at some point, right? We stopped talking about it and bragging about it and designing around it. I guess we're still in the early days of that, but at some point, I think there's AI ML everywhere and it's less of a story than it is right now. In fairness though, I think when we were, you know, ChatGPT came out after the call for papers for KubeCon Amsterdam. This is actually the first cloud native event in Europe since. In Europe, yeah, that's true. That's a good point. Since we saw this whole surge. That's a good point. So I would say in fairness. Both continents get to have their AI ML. Exactly, I would say, come on, come on, come on, come on. Okay. We got to give the community a second. I understand you're on the front lines, Dustin, but I do think it's fair. On that note, actually speaking about this, there are 233,000 contributors to the cloud native foundations projects. There are 183 graduated incubating and sandbox projects. And like we said, this is the largest KubeCon ever. So maybe that's why everyone's excited to talk about AI. Got another hot take for you. Just thought of one. The number of VCs and startups here outstanding. Actually really, really impressive to see the VC community in Europe and supporting, you know, hopefully some founders with some new ideas. I will say that the ecosystem is different here than it is in the United States. And it is a much more collaborative and inclusive. And maybe I'm obviously jaded because we're in Paris and it's lovely. But genuinely, it always is a different energy when we're here. Well, I'm excited for our day. We're going to have some great guests. Can't wait to do it with both of you. Dustin, Rob, thank you so much for being here. Thank you to our fabulous team over there for holding down the fort. And thank all of you for tuning in from home, from work, or from wherever you are. Here for our live coverage at KubeCon, CNCF's largest event here at CloudNativeCon in Paris, France. My name is Savannah Peterson. You're watching theCUBE, the leading source for enterprise tech news.


All right cyber traders welcome on back here this Monday April 19th shortly after 2 30 p.m. Eastern time Welcome on back here for our afternoon meeting I know I'm good to go across the trading room great to see all of our students including Tina Ken skip Kathleen Michael Stefan Taz great to see you all for all of us in social media I believe you folks are good to go as well Facebook live in YouTube That is the top right into the thick of things as I like to say and with that said we do have class coming up So for any reason now be it so we'll go across the percent gainers and losers lists In just a second here. I want to start off actually just on the clove We'll be talking more about this within the phase two course coming up live later on today So, you know, we'll talk about actually a recent trade. I just took on this myself I know that Tina's watching this Jeff ended up just getting a nice profit himself on this trade We were in roughly from right around this line here at 972 Jeff took it from 71 I first chased it. I saw this like beginning to rattle and shake around here as I turn back to this trade I'm normally not trading going into the late morning early afternoon. Anyway, let alone on a class day That's where my focus is really like I gotta do like PowerPoint work But you know, I turn back to this stock just flipping through and it's already at 977 I say already meaning that it broke under and over this price.  I got to jump in fast This is the bounce and I ended up taking a small loss because I ended up setting my stop below 970 I got stopped out probably on the bottom of this bar probably up 68 So I was watching it still the second I got out it started to begin to like crown off and push back up and You know, Jeff said that his stop is a little bit lower yet a better entry at least But I realized, you know what it's worth taking twice It's it was a setup that I lined up This was a line I had on my main trading platform on my other computer here beginning from 830 Eastern time So I have to trust what I put on my chart to begin with and you know with that said I ended up retaking the trade I got back in a 72 at least this time on a double position I ended up closing out at 93 and then I let this shake around quite a bit I said to us live inside the trading room that at this point, you know what if I set my stop below a past iceberg at 988 it'll be an auto profit So I wasted a little profit on the last half my shares as it squeezed back down But I stopped out at 88 right on the nose and for that I mean hey It's like kind of dropping off a bit now The stock has had a few chances of trying to break out and run over 10 So I'm gonna go over to another stock actually here in just a bit We'll go to the top of the gainers list after but with this shaking below 10 once shaking below 10 twice here I don't get me wrong. I guess there is a chance it could break back over 10 and fly I was more hopeful of that earlier But it reminds me of the CL NE trade Not now I'm saying it reminded me of CL NE from pre-market where this had a good chance of breaking over 14 Running nicely and breaking above the pre-market high Failed to do that. It ended up breaking back below 14 right before the market was opening up right here and the end result Certainly not a buying opportunity. So it just leaves me to say if it's not breaking higher There's only one other way the stock's gonna go. So I feel like you know for clove It's kind of do or die here trading 206 million shares on 102 million share float And we've we've seen a bigger ratios in that regard But I'd be more inclined at this point to look for the weight down unless if this pops like as soon as we turn Away from the stock which would be a great sign for the long unless if that happens I would be more focused on a breakdown below support coming up here. We'll see I mean Hey, I love trading clove either way for anyone. That's already long. I'm hoping that this you know moves back up and blasts back over 10 Certainly, we're gonna put this on our watch list to begin and definitely by the end of this meeting We'll just check back in with it. I'm sure if it pops over 10 midway through. I'm sure I'll get the shout from a couple of us live Marlin and RLN I don't know what the hell this is So top of the gainers list here. I'm not gonna check the news on it doesn't seem like it's worth our time My shoot from the hip guess would be a buyout, but I think would be more volume if that was a buyout I don't know AMBO this one was a little lackluster it did pop after the open I guess I should say I missed this opportunity after 9 30 This wasn't one of the first ones I was watching leading into the market open today But they ended up making a bit of a pop broke out over 250 on a second attempt But I got shaky from there it ended up moving up nicely up towards three and above but Eventually you knew that the wheels were gonna fall off on the stock pretty quickly This had a really low float given the volume as it was trading it in pre-market So now at this point I can only imagine this just dumping off more Otherwise just being really lifeless and flat All right, so this in pre-market early. This is Warren's DB DRW another acquisition company I just I was like let me just check out the equity first like the regular ticker and this is doing nothing So it's unfortunate these SPAC companies pop up, you know every now and then and you know some look tradable Some we tend to trade frequently, but not all of them This looks like a buyout. I'm not gonna check the news But this hard to put my life savings on anything would be that this would be a buyout. It's not an official beager So if I'm wrong on that clove W the war and so again, we talked about clove the regular stock the equity that is and Now the warrants are cheaper, but not really as often as good to trade This Arkon I know we've traded in the past just take a look at the daily chart This thing looks like coiled up ready to explode. I'm talking about like the trend off the lows and highs This is essentially building a huge pennant. So for right now at least as far as a day trade heading into this Monday I mean hey, it's at the highs making more of an afternoon move. You have to respect that Just not a whole lot really to talk about otherwise like yeah resistance off of like what would appear to be eight This is not the biggest order. That's on the book currently even Put this on our list, I guess hopefully we'll find better than this even This galt trade looked good going into like 145 to a clock Eastern dropped off though. I was pretty hopeful to see this breakout better HT Fausto called this out after 930 same thing on this Now DGL why this has been creeping up towards the highs all afternoon and Another one from pre-market which I could like insta take a picture of my notepad and show you folks I had this number three on my side list this morning not to say I took a trade on this I wish I did But it was showing a lot of volume traded early in pre-market It was trending up a little bit in pre-market after eight o'clock. It caught my interest just unfortunately with all the Crap we'll say happening within the world and we're not gonna talk about all that here But just to say during unfortunate times you've seen this company in particular make some big moves in the past and You know it ended up squeezing up after the open. It's still near the highs right now I think that the only gripe I have on this trade is that it's like just almost too liquid Trading too much volume on the order book I'm hopeful that this will make a big breakout later on today If not today, maybe you know keep it on your side list for the remainder of the week Got a couple of other familiar names here across the gainers and folks UAVS Oh, this is pushing up nicely or just did before Hit a high of 572 and pulled back down now Looks like there was a lot of volume filled off the breakout roughly from like five fifty five fifty seven ish You could just tell from the trade station volume bars here on the right side So looks like there had to have been a lot of volume just recently traded off of 557 in particular 57 58 Kind of holding underneath that price right now as we speak so You got to respect that as resistance just a familiar name I definitely will put this on our watch list for right now UAVS and hopes that it can make a higher high later on but Lower high as of now right from that price CLNE interesting play from earlier today. We talked about the big snap below 14 support That was prior to the market opening folks. So it just goes to ask like what if history repeats itself? What if this ends up re-breaking below 14 support once the market does open? So I'm referring to this big snap right here doesn't look that big Compared to what it did after 930, but right here You got to ask what happens if more selling comes in after 930 when the market opens, you know It didn't take long at all for this to you know Rebreak that support hold it as resistance here and then just slam right back down So just another example so you know how good news comes out for a stock doesn't always mean your Just gonna throw a dart on the wall and hope it lands in terms of buying and seeing it run up higher and Yeah, Ken says he's long right now Ken. I hope that you're long from 12 Or maybe under maybe like 1180 ish Still volatile in the sense of the move in pre-market it's trading about what like 85? 90,000 shares per minute So I wouldn't really have an issue putting this on our main list Just I feel like Compared to what it normally trades it just might be pretty exhausted So if you're long from 12 Ken, you're doing pretty good I can see this popping up over 1250 maybe on some false breakout type move and from there you take a nice profit Probably be the first on the side list. I'd say for this stock. I think that we missed the boat from 12 there Qfin Yeah All right, if we'll hop over to the losers list We'll see what else we got here folks and then I'm just about wrap it up Actually preset my benzene a pro here quick just so I can jump right to that after LfMD, I guess you can say it's kind of near the low of the day, but not a whole lot happening of late there H-a-e now Fausto brought this up during our live audio commentary from the morning Just kind of saying you know, hey like you know, you never know what could happen to a stock Just when you look to swing trade it, you know bad pharma news had to have come out on the stock I mean that would just be my shoot from the hip guests But man just imagine waking up and seeing this at like 95 and it was at like 120 as of Friday or so and then to only see it just tail off even further Yeah, we're not gonna day trade a stock this expensive, but interesting to see still trade This much volume going into the end of the day I'll tell you what folks Just kind of skimming through here on the losers end I can scope this out more and more over the days and weeks and months and years that I've been doing this just Not a whole lot really to work with on the losers end unless it's down big or unless it's shortable this stock DDD is shortable You know dropping off a bit here. I don't really feel a need to put this stock on our list I can if I want to Just goes to show it's a Monday, so I'm just trying to take things pretty selectively at this point All right, I again like I can put this on our list if I really you know Want to but I don't really need to I think that we're pretty much set the cannon trade perhaps At least this is one of them we're familiar with I'd rather follow a cannon you're heading into the close compared to something I'm not as frequent to trade So at least this can and making a nice bounce from like one o'clock in the afternoon off the low roughly off that 1150 level and You know for as much as it dropped over the last week and a half perhaps You know if Bitcoin decides to move back up again if the market spiked back up perhaps this can go with it a Lot of perhaps and maybe is there But you know at least it's at you know volatile and volatile enough for us to just kind of keep on our list here If we could re-break below 12 then maybe it could be a good short opportunity Quantum escape all right folks that just about wraps up for me here looking on benzene a pro I don't really see any other big stocks. They're popping right now Maybe I got to reload this thing up. Nope. I'm good All right What else we got here folks from from us live inside cybergroup and for all of us on social media if you folks see anything up Down left right more than like 5% here type it in the chat board Just let me know got a bagel from Benzinga pro Not a good tasting bagel bagel is in zero. No stocks that are really making a big pop new high of the day So if that has nothing for me, I would assume that you folks got nothing for me as well Just because that's like really live up to date like you know life heat data. So The only one I saw later with CRCT. I didn't even look at it You didn't see me type it in the chat board or call it out But yeah, $26 or $23 $4 just very illiquid. It wasn't a familiar name. I did see that pop up though So run point there any bitcoins you see? Oh, yeah, I guess, you know, we got class coming up Bitcoin got smacked around hard over the last evening and I would love to show it here Let me just do that quick. I don't know you get get some folks on social media Maybe they think that I only show Bitcoin when it's pumping up and it looks good So that's not the case at all. Bitcoin got crushed over the last, you know, 24 to 48 hours I think some news regarding some Blackout in China in a main region that does crypto mining some What you might call it money laundering allegations, I think from some institutions Unclaimed or unfounded allegations, but yeah, just day over day the last few days here big drop It broke a new high going into the end of last week and a big spike back down after So it's unfortunate, but otherwise, you know, my stance long-term. So we'll see what happens even by the end of this week Yeah, it just only slows down the run-up skip. That's all for right now. So we'll sit and wait obviously that does affect You know all of the Bitcoin mining stocks and equities including Canon that we have on our list currently and Mara and ride and all of that The only one that I'm getting a ping on right now from Benzinga. This one THCB. I Don't know what the company does. So five plus percent $11 stock spreads Not terrible Again, it's another one that I don't really need to put on our list. I Can if I really want to I like what we have so far though folks. I think that we're pretty much set I mean, hey DGL Y at the end of it could be the big runner going into the clothes And that looks like the slowest year to start things off if it's not that then again, maybe it's the closed stock This one isn't totally ridden off on the way up. It didn't really re-break below that 972 ish line that I have in my chart But it's got a re-break over that major resistance off of 10 first So, you know, gotta see what happens coming up pretty shortly from later at the bell here CGA pop Yeah, but the spread and liquidity is just so bad Again another one that we could put on our list if we want to but Don't really need to just so thin on the order book there I'd be really careful on that trade. Although, you know high of the day moderately priced One more that I'm getting here from the bell and this one at least is a lot cheaper The order book still is pretty thin. It's the MOXC stock Out of all of them, I might follow this but even for right now I like what we have between clove, cannon, arcan, UAVS, and DGLY So five to wrap it up folks and then outside of that for all of us in social media As always if you have yet to do so make sure that you like subscribe notify right on our personal YouTube channel YouTube comm slash cyber trading you now give you a good ability of knowing when we're going live when we're not and Then outside of that if you've yet to join us live inside our cyber group room Go right down to the link on the banner below just to get started for all of us there though Just keep in mind. I'm gonna repost the picks coming up pretty shortly And then I'm gonna jump in class most of us will be in there But for any of us that do not have access to the phase two stock course first and foremost Make sure that you talk to your education advisor give a call to the office private message them That's probably easier at least to get the details otherwise though I know that Rich and Fausto will be doing the audio commentary taking you going into the close. Alright, take care I'll talk to you all soon