Browse content similar to 09/12/2015. Check below for episodes and series from the same categories and more!
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This is Business Live from BBC News with Ben Thompson and Aaron | :00:00. | :00:07. | |
T-changing the rules for content access in Europe. Hey, could this be | :00:08. | :00:17. | |
the end for geo-blocking? Live from London, that's our top | :00:18. | :00:20. | |
story on Wednesday 9th December. Watch what you what, | :00:21. | :00:34. | |
wherever you are. The EU considers proposals that | :00:35. | :00:36. | |
could end geo-blocking in Europe. But media firms fear a loss | :00:37. | :00:40. | |
of revenue and big copyright bills. Commodity prices fall further | :00:41. | :00:45. | |
with oil below $40 and iron ore The markets were hammered yesterday | :00:46. | :01:05. | |
with the fall in commodity prices. The mining index was at a ten year | :01:06. | :01:10. | |
low. That's what they're doing now. We will discuss why. | :01:11. | :01:12. | |
Or would you be happy with a bottle of British bubbly? | :01:13. | :01:16. | |
We'll be getting the inside track on the English wine industry | :01:17. | :01:19. | |
when we speak to the CEO of the country's leading vineyard | :01:20. | :01:21. | |
As the cost of a traditional British Christmas dinner falls | :01:22. | :01:35. | |
to a four-year low with cheaper turkey, pork and potato prices. | :01:36. | :01:38. | |
We want to know what you're stocking up on? | :01:39. | :01:40. | |
So whereever you are in the world, tell us you're preferred | :01:41. | :01:43. | |
Technology may mean that we can carry around entire music and video | :01:44. | :02:05. | |
collections in our pockets on smartphones or tablets, | :02:06. | :02:09. | |
but it doesn't mean you can watch them everywhere. | :02:10. | :02:12. | |
When you travel abroad, suddenly you can't get access | :02:13. | :02:16. | |
But it's all down to copyright and what's known as geo-blocking, | :02:17. | :02:26. | |
granting access according to where you're geographically located. | :02:27. | :02:28. | |
It's what firms like Netflix, Hulu and YouTube use to make | :02:29. | :02:33. | |
sure their content is only broadcast where it has been licensed | :02:34. | :02:36. | |
Now the European Commission wants to stop it across the EU. | :02:37. | :02:40. | |
If the proposal gets approval, anything available in one member | :02:41. | :02:42. | |
country would also be available in all others. | :02:43. | :02:45. | |
As you might expect, the media content industry is dead | :02:46. | :02:48. | |
against the proposals fearing that it could cost them a fortune | :02:49. | :02:51. | |
Raould Lumb is an Associate at Hill Hofstetter. | :02:52. | :03:01. | |
It is always good to have you with us. The media industry, many parts | :03:02. | :03:09. | |
of it are not happy with this. I'm getting it clear, the reason is and | :03:10. | :03:13. | |
correct me if I'm wrong, they licence the content in each country | :03:14. | :03:15. | |
and they make money in each country, right? | :03:16. | :03:22. | |
Yes, absolutely. When the measure anti-geo-blocking was announced | :03:23. | :03:26. | |
there was outrage from the audio visual content industry who said you | :03:27. | :03:30. | |
are going to divide the value of our product by 28. There has been a lot | :03:31. | :03:36. | |
of lobbying by them and we are expecting more limited crackdown on | :03:37. | :03:40. | |
some geo-blocking practises today. When we talk about this, we talk | :03:41. | :03:45. | |
about all content, the BBCi player for example, right? Could be. What | :03:46. | :03:48. | |
we are expecting today is something to increase the portability of media | :03:49. | :03:52. | |
rather than to end geo-blocking altogether. The European Union will | :03:53. | :03:55. | |
be giving us a draft regulation which says we are a consumer buys a | :03:56. | :04:00. | |
product in country A, they will have the ability to watch that in country | :04:01. | :04:04. | |
B, C and D, no matter where they move through the European Union. | :04:05. | :04:08. | |
Ben, you want to come into this. Can I ask you this, I want to make this | :04:09. | :04:15. | |
clear, the BBC, Netflix, they make their own content, but the majority | :04:16. | :04:19. | |
buy in their content. What does this mean for the original content | :04:20. | :04:24. | |
provider? It might not be the BBC's fault or Netflix? The content | :04:25. | :04:28. | |
provider has a monopoly over their IP and their product. They want to | :04:29. | :04:33. | |
sell that. What will have to happen in order to end geoblocking is to | :04:34. | :04:38. | |
undermine those local monopolies and to allow people to carry their | :04:39. | :04:41. | |
rights from one local monopoly into another. It is a rare situation | :04:42. | :04:46. | |
which the law might be more complex than the technology. You imagine if | :04:47. | :04:51. | |
you've paid for access to a site, be it a BBC licence fee or whatever it | :04:52. | :04:54. | |
is you paid for, you would expect to be able to take that with you. There | :04:55. | :04:58. | |
are so many other industries you can do that, if you buy something and it | :04:59. | :05:02. | |
is portable, you can do with it what you want. You have paid for this | :05:03. | :05:05. | |
service already, why not be able to access it elsewhere? It seems very | :05:06. | :05:09. | |
old-fashioned and it is the law holding back business practises, but | :05:10. | :05:12. | |
the technical reason you can't is because the person you've said to | :05:13. | :05:16. | |
distribute the content to you, be it Netflix or the BBCi player, that | :05:17. | :05:20. | |
person has only got a right to distribute it to consumers in one | :05:21. | :05:23. | |
country. When you move boundaries, even though you are accessing the | :05:24. | :05:26. | |
internet they have got the technical ability to distribute it to you, | :05:27. | :05:29. | |
they don't own the rights to beam that content to where you happen to | :05:30. | :05:31. | |
be standing on the globe. Interesting. We could talk a lot | :05:32. | :05:34. | |
more about this. Time is against us. Thank you very much. | :05:35. | :05:44. | |
Some of the stories making headlines around the world. | :05:45. | :05:47. | |
Dow Chemical and DuPont are reportedly in talks | :05:48. | :05:49. | |
The combined company would have an estimated market value | :05:50. | :05:52. | |
of $120 billion and employ over 100,000 people around the world. | :05:53. | :05:54. | |
It's thought that if the deal goes ahead, the two companies would merge | :05:55. | :05:57. | |
as equals with both chief executives retaining their jobs. | :05:58. | :06:03. | |
One of the world's most famous gun-makers, Smith Wesson, | :06:04. | :06:07. | |
has nearly tripled its profits in three months to October compared | :06:08. | :06:09. | |
The firm said net income came in at $14.2 million, | :06:10. | :06:24. | |
Some analysts have said the surge in gun sales across the US is due | :06:25. | :06:29. | |
to worries over restrictions on gun ownership | :06:30. | :06:31. | |
particularly in the wake of mass shooting incidents in the country. | :06:32. | :06:34. | |
Shares in Yahoo have jumped more than 2% after reports it will not | :06:35. | :06:37. | |
sell off its $32 billion stake in Chinese e-commerce group Alibaba. | :06:38. | :06:40. | |
It follows pressure from investors worried about a potentially huge tax | :06:41. | :06:43. | |
Yahoo is now looking at spinning off its core business instead. | :06:44. | :06:57. | |
At this time we will look at the Business Live page. A story talking | :06:58. | :07:04. | |
about the ongoing debate over the UK or Britain's continued membership of | :07:05. | :07:12. | |
the EU. A story here, one of London's biggest firm, ICAP saying | :07:13. | :07:17. | |
that the UK could thrive outside the EU. He has not made up his mind | :07:18. | :07:21. | |
whether the UK should leave the EU. A further update on the falling oil | :07:22. | :07:24. | |
price we have been talking about and we will discuss more about the | :07:25. | :07:27. | |
falling oil price during the programme, but whilst it is good | :07:28. | :07:31. | |
news and bad news depending on your prospective, if you are a producer | :07:32. | :07:34. | |
of oil, not great news. If you are an organisation or a Government | :07:35. | :07:37. | |
around the world... An importer. Not good news. Good news for drivers. | :07:38. | :07:43. | |
Good news for oil importers. Talking of that, let's stay with that story, | :07:44. | :07:45. | |
commodities in general. I want to talk about commodities and | :07:46. | :08:00. | |
in particular iron ore, the price kind of fallen off a cliff. Let's | :08:01. | :08:04. | |
get this straight, at the moment iron ore fell to a ten-year low, it | :08:05. | :08:10. | |
is now $39.60 a tonight, but that doesn't make sense. What does that | :08:11. | :08:15. | |
mean? It means, in 2011 it used to be nearly $200 a tonight, right? | :08:16. | :08:21. | |
Absolute lie, Aaron, it is a tipping point. It is causing mining stocks | :08:22. | :08:25. | |
to sink today. It is a huge come down from four years ago where it | :08:26. | :08:30. | |
peaked close to $200 a tonne. Of course, we have been reporting lots | :08:31. | :08:34. | |
about Anglo-American whose stocks have been sold off to a record low | :08:35. | :08:38. | |
and that's after the company said it would sell huge chunks of its | :08:39. | :08:41. | |
business as well reduce its workforce by nearly two-thirds and | :08:42. | :08:44. | |
of course, that's a company that competes with the likes of BHP | :08:45. | :08:50. | |
Billiton and Rio Tinto and I should add those stocks actually closed | :08:51. | :08:53. | |
mixed today on the Australian exchange. Rio Tinto down under 1%, | :08:54. | :08:59. | |
BHP gaining some. We know the news is that Rio Tinto hasn't been helped | :09:00. | :09:03. | |
by news that it is cutting spending plans too and it is joining its | :09:04. | :09:07. | |
peers in the mining sector in reducing all the costs in the face | :09:08. | :09:10. | |
of the sinking commodity prices that you speak of. We know the price of | :09:11. | :09:16. | |
iron ore has been falling due to China's weak trade performance, | :09:17. | :09:20. | |
which, of course, has reduced its demand for iron ore which, of | :09:21. | :09:25. | |
course, is used to make steel. Thank you very much. | :09:26. | :09:34. | |
Ver ray shoulds is a good word for a Wednesday morning. Mining stocks | :09:35. | :09:41. | |
slump to go a 11 year low. Copper, aluminium, platinum and iron and | :09:42. | :09:45. | |
energy prices. Investors and traders are talking about this being a | :09:46. | :09:50. | |
perfect storm of slowing Chinese demand and the resulting fall in | :09:51. | :09:55. | |
commodity price. Yesterday Anglo slashed up to 85,000 workers. Others | :09:56. | :09:59. | |
are likely to follow suit. So what has Europe done today? Well there, | :10:00. | :10:02. | |
is the current state of play in Europe. Back in positive territory, | :10:03. | :10:06. | |
but perhaps some profit taking after the falls yesterday, but it is | :10:07. | :10:09. | |
probably going to be a pretty volatile end to the year. We will | :10:10. | :10:11. | |
talk about that in a moment. Michelle has the | :10:12. | :10:17. | |
details in New York. The cost of drugs comes under the | :10:18. | :10:28. | |
microscope. Some have been under fire this year over rising drug | :10:29. | :10:32. | |
prices with doctors, patients and lawmakers complaining the Senate's | :10:33. | :10:34. | |
special committee on ageing is holding a hearing on the subject. | :10:35. | :10:47. | |
The story of lulu has been a rocky one to product recalls and to the | :10:48. | :10:53. | |
departure of its Chief Executive. It is likely to report profits for the | :10:54. | :10:59. | |
third quarter. Have commodity prices hit rock | :11:00. | :11:04. | |
bottom yet? That's the question oiling the US markets after a | :11:05. | :11:08. | |
volatile few sessions. Will investors shake off their worries | :11:09. | :11:11. | |
this Wednesday? Good on you, Michelle! | :11:12. | :11:14. | |
Bronwyn Curtis from The Society of Business Economists. | :11:15. | :11:22. | |
Let's start with commodities. We have been talking like you have | :11:23. | :11:27. | |
until we are blue in the face about what is going to happen next week | :11:28. | :11:34. | |
with the American Central Bank it is likely they will increase interest | :11:35. | :11:39. | |
rates. I'm curious what that does to this commodity price? It makes it | :11:40. | :11:43. | |
more expensive. We have been talking about this hike in rates from the | :11:44. | :11:47. | |
Federal Reserve for so long, it must be priced in. I actually think that | :11:48. | :11:53. | |
the dollar might fall if they hike. It is always by the rumour -- buy | :11:54. | :11:58. | |
the rumour, sell the factment we have got to be careful here about | :11:59. | :12:01. | |
saying they are going to do it. I know it is the first rate rise, if | :12:02. | :12:06. | |
they do it since 2006 and it is the first turn in the cycle -- term in | :12:07. | :12:10. | |
the cycle, but I'm not that concerned about it. I talked about | :12:11. | :12:15. | |
this being the perfect storm, we know China and the Chinese economy | :12:16. | :12:19. | |
is slowing and that's in large part responsible for the slumping inn | :12:20. | :12:22. | |
commodity prices, but the two coming together and given the volatility or | :12:23. | :12:27. | |
the unpredictability about US rates and eurozone action, all this | :12:28. | :12:31. | |
uncertainty, markets are heating right now, aren't they? They are and | :12:32. | :12:35. | |
they are nervous. We have not been here before in terms of a rate hike | :12:36. | :12:39. | |
from the US after quantitative easing and so on, the ECB didn't do | :12:40. | :12:44. | |
quite enough, China is slowing and when we talk about a super cycle in | :12:45. | :12:49. | |
commodities, I can remember dare I say the last up cycle in commodities | :12:50. | :12:56. | |
and always, super cycle upside and a long way down because it is a super | :12:57. | :13:00. | |
cycle and as all the companies have raised a lot of debt, they are in | :13:01. | :13:03. | |
trouble and that's going to be the problem and I think other companies | :13:04. | :13:07. | |
will follow Anglo. Interesting stuff. Wow. Not good | :13:08. | :13:12. | |
stuff. Not good stuff for the Australian company, but we don't | :13:13. | :13:17. | |
have time to talk about that. You're going to come back and we're going | :13:18. | :13:20. | |
to talk about the papers. Still to come: We'll be getting | :13:21. | :13:24. | |
the inside track on the English Wine industry when we speak to the boss | :13:25. | :13:27. | |
of the country's leading vineyard You're with Business | :13:28. | :13:30. | |
Live from BBC News. Let's get more on that | :13:31. | :13:40. | |
commodity price bust. The FTSE 350 mining index touched | :13:41. | :13:50. | |
a ten year low yesterday so what does | :13:51. | :13:53. | |
it mean for us? Simon Jack is in our | :13:54. | :13:56. | |
Business Newsroom and if nothing else, Simon, no Santa | :13:57. | :13:58. | |
rally this year? PROBLEM WITH | :13:59. | :14:16. | |
SOUND Well, we would love to hear from Simon. Can you lip read, | :14:17. | :14:21. | |
anybody We can get subtitles put along the bottom! | :14:22. | :14:26. | |
The big slump in commodity prices is taking its toll. We have discussed | :14:27. | :14:29. | |
already the issues related to the import and export and what it means | :14:30. | :14:33. | |
for inflation. Inflation here in the UK at a pretty low level. Struggling | :14:34. | :14:39. | |
to get above 0%. That's one affect. We've plug him in! OK. Sorry about | :14:40. | :14:45. | |
that! Can you hear me now? Yes. Spare a thought for the North Sea, | :14:46. | :14:51. | |
65,000 jobs gone there and in the supply chain, 5,000 jobs gone in the | :14:52. | :14:59. | |
steel industry and jobs in Asset Management as Saudis pull funds and | :15:00. | :15:06. | |
BHB bill tonne listed here. It might mean cheaper petrol, but there are | :15:07. | :15:09. | |
big knock on effects elsewhere in the economy and we are feeling that | :15:10. | :15:11. | |
at the moment. Simon, good stuff, thank you very much. Simon Jack | :15:12. | :15:14. | |
there in our business newsroom. Is it possible to go from | :15:15. | :15:23. | |
commodities to Christmas dinners? It is a commodity, food is a commodity. | :15:24. | :15:28. | |
The cost of Christmas dinner is at its cheapest level since 2011. All | :15:29. | :15:33. | |
of this is rated to the fact that all of the commodities that make up | :15:34. | :15:37. | |
Christmas dinner are at record lows. Meat, potatoes. Not those things, I | :15:38. | :15:43. | |
cannot stand them. Brussels sprouts, they are down as well. We have been | :15:44. | :15:47. | |
asking you, what is Christmas dinner for you? James, good on you, with | :15:48. | :15:54. | |
competitive prices on luxury finger food, that is what I am looking at, | :15:55. | :15:59. | |
he says. I love that of finger food! It is great, love it! I have ordered | :16:00. | :16:06. | |
a takeaway for my family Christmas dinner, my local Indian. This one. | :16:07. | :16:07. | |
Just for people like me, she says. You are watching business life, the | :16:08. | :16:24. | |
new rules to ban deer blocking across the European Union, that is | :16:25. | :16:30. | |
where you can stream media in one country but you cannot do it | :16:31. | :16:39. | |
elsewhere. -- geoblocking. Good news if you are consuming, not if you're | :16:40. | :16:45. | |
a media provider. It was not even there in the script. | :16:46. | :16:47. | |
Now, if you're buying in the booze ahead of the festive season, | :16:48. | :16:50. | |
Perhaps not your first choice, but it's slowly and steadily gaining | :16:51. | :16:55. | |
a loyal following around the world, and beats many top French champagnes | :16:56. | :16:58. | |
Chapel Down is England's leading vineyard and has produced | :16:59. | :17:04. | |
Under the leadership of Frazer Thompson, Chapel Wines has | :17:05. | :17:11. | |
become the largest profitable wine company in the UK, | :17:12. | :17:14. | |
driving demand for English wines in places as far afield | :17:15. | :17:16. | |
This has driven sales up by 33% year on year, to $4.9m. | :17:17. | :17:25. | |
And last year, the firm completed a crowd funding campaign, | :17:26. | :17:29. | |
raising $6m and attracting over 1,400 new shareholders. | :17:30. | :17:32. | |
Welcome to the programme. I am just going to make an excuse for Aaron! I | :17:33. | :17:55. | |
will be very careful! We have talked about this on our shows, this | :17:56. | :18:00. | |
explosion in English wine, sparkling wine, why, over the last few years, | :18:01. | :18:06. | |
all of a sudden... ? There has been an explosion in sparkling Rhine, per | :18:07. | :18:16. | |
second, we have all got little moments to separate. Mini fist bump | :18:17. | :18:19. | |
moments, what is a good way to celebrate? We think champagne has | :18:20. | :18:27. | |
moved on, something that can make any occasion special. That is hardly | :18:28. | :18:35. | |
the right glass! I am so sorry! This is a perfect product to celebrate, | :18:36. | :18:39. | |
it is great and different and original. What makes English wine | :18:40. | :18:44. | |
different? What is it about an English great, and English vintage, | :18:45. | :18:49. | |
that makes it so different from the French champagne that we have known | :18:50. | :18:55. | |
and loved? The first thing is the similarity to the land it is grown | :18:56. | :18:59. | |
on. The first thing you see in England is the white cliffs of | :19:00. | :19:06. | |
Dover, the chalk, that gives a great sparkling wine. That gives it a | :19:07. | :19:11. | |
great acidic and mineral content. We have got the land and the know-how, | :19:12. | :19:15. | |
we consume a lot of champagne in this country. We are, how Ray! The | :19:16. | :19:22. | |
biggest consumers of champagne outside France. We love champagne | :19:23. | :19:28. | |
and we love sparkling wine, it is -- sparkling wine, it is clean and | :19:29. | :19:34. | |
refreshing and it is for a seller brochure. That is not just me saying | :19:35. | :19:40. | |
it, it is international juries. What is the market? Is it baby steps in | :19:41. | :19:46. | |
getting that mentality right? Baby steps is right. You have got to move | :19:47. | :19:52. | |
very slowly. And we are the biggest country in the water champagne. | :19:53. | :19:57. | |
That's regretting the world. Get it right in the UK and then start | :19:58. | :20:00. | |
exporting, Japan, China and Hong Kong, who are starting to get | :20:01. | :20:08. | |
interested. You have had passed in big business and then you joined | :20:09. | :20:11. | |
Chapel Down, and you have got a great story about a photocopier? I | :20:12. | :20:16. | |
used to be a brand director for Heineken, I was sent to a lot of | :20:17. | :20:22. | |
places, they teach you cash is king, but they do not tell you what | :20:23. | :20:26. | |
happens when the cash runs out. When I joined Chapel Down, four days | :20:27. | :20:32. | |
later, they came to repossess the photocopier. That is the consequence | :20:33. | :20:37. | |
of cash flow! From that perceived failure, they repossess the | :20:38. | :20:41. | |
photocopier, how do you start to build the business up again, get the | :20:42. | :20:47. | |
cash coming in, get the sales through? You talk about | :20:48. | :20:51. | |
crowdfunding, that is a great way of getting cash, but also customers. | :20:52. | :20:56. | |
Absolutely right, you have got to do business on a sound footing, wine is | :20:57. | :21:04. | |
a cash generating business, but beer is not. For example. The first round | :21:05. | :21:11. | |
of grant funding, we had 1400 new investors who were as passionate | :21:12. | :21:15. | |
about what we were doing as I was. It is like having mini mes on Biddy | :21:16. | :21:21. | |
tables all around the country -- the dinner tables around the country | :21:22. | :21:23. | |
boring people about how good English wine is. Beer is now a hugely | :21:24. | :21:28. | |
interesting market at the moment, craft beer is booming for the very | :21:29. | :21:32. | |
reason that we have seen this enormous merger going on, 30% of the | :21:33. | :21:38. | |
world in one company, and we are seeing passion and taste coming | :21:39. | :21:42. | |
through in smaller craft beers. We are in that market as well. We do | :21:43. | :21:50. | |
have to run it up, time is short on the programme. Royal wedding...? | :21:51. | :21:58. | |
Allegedly! Allegedly this was consumed by the guests at the Royal | :21:59. | :22:04. | |
wedding. Allegedly, allegedly! Cheers to that. It was a pleasure to | :22:05. | :22:11. | |
have you here. Allegedly! We do not have this in our Coffey mucks every | :22:12. | :22:19. | |
morning! -- Coffey mucks. Speak for yourself! What you do if you have an | :22:20. | :22:28. | |
airport, three, in Malaysia. They have said, if you do not come and | :22:29. | :22:34. | |
collect your airline within 14 days, which have been abandoned at the | :22:35. | :22:41. | |
airport. A 747. Three of them! I knew I had parked it somewhere! You | :22:42. | :22:49. | |
might lose your phone or keys. These are old planes, these are 747 200, | :22:50. | :22:56. | |
but very fuel-efficient. -- not very fuel-efficient. It costs too much to | :22:57. | :23:00. | |
get rid of them. Now, can you have a sport | :23:01. | :23:04. | |
which involves no more effort The industry now refers | :23:05. | :23:07. | |
to video gaming as eSports, and there's serious | :23:08. | :23:12. | |
money to be made. It's widely accepted | :23:13. | :23:13. | |
as a paying occupation. It's not, like, you play | :23:14. | :23:19. | |
games for a living? It's actually just, wow, | :23:20. | :23:21. | |
you play games for a living. You can earn half a million dollars | :23:22. | :23:26. | |
per year just playing LoL. The top player in Korea | :23:27. | :23:29. | |
was offered $1 million in China But he refused, saying, | :23:30. | :23:32. | |
I want to represent Korea. Bronwyn Curtis from The Society | :23:33. | :23:43. | |
of Business Economists joins us. We have not had much more champagne | :23:44. | :23:52. | |
in that break, although we are struggling to get our words out. You | :23:53. | :24:01. | |
have had no booze! Let's talk about Yahoo, they are not going to sell | :24:02. | :24:06. | |
off the stake in Ali baba, just their core business. I thought it | :24:07. | :24:11. | |
was always going to do that. It was going to sell-off Ali baba at one | :24:12. | :24:17. | |
point. I think the interesting thing about this story is that it is the | :24:18. | :24:27. | |
Ali Baba that they want, people, they buy Yahoo to get into Ali Baba. | :24:28. | :24:36. | |
Core business being sold off is not such a big deal, they have the | :24:37. | :24:40. | |
biggest reach in the US but they have not managed to monetise it. | :24:41. | :24:44. | |
They are putting it up for sale. The rise bought AOL, 4.4 billion | :24:45. | :24:54. | |
dollars. -- Verizon bought AOL. Let's talk about the sharing | :24:55. | :25:01. | |
economy, this story talking about them burning through their cash | :25:02. | :25:05. | |
pile, this is the way the business is, they have got to spend money | :25:06. | :25:10. | |
upfront to get customers in before they get any revenue so they are all | :25:11. | :25:14. | |
making a revenue at -- loss at the moment but they need repeat | :25:15. | :25:18. | |
bookings. That is how they make cash. It takes time, you need | :25:19. | :25:22. | |
customers not just a comeback once but twice, ten times, 20 times, you | :25:23. | :25:28. | |
have to get the return custom. We have Uber, who raised $10 billion. | :25:29. | :25:34. | |
They are worth, apparently, $50 billion. You go down GM or Ford. | :25:35. | :25:40. | |
Bigger than Delta airlines which has more than 1000 aircraft. But losing | :25:41. | :25:48. | |
millions and millions every day. It is the same with AirB They | :25:49. | :25:55. | |
expected to make a loss of 150 million this year. It is getting the | :25:56. | :25:58. | |
return custom is getting the brand going. Thank you very much. We will | :25:59. | :26:02. | |
see you soon. Cheers! | :26:03. | :26:05. |