0:00:06 > 0:00:08This is Business Live from BBC News with
0:00:08 > 0:00:11Victoria Fritz and Ben Thompson.
0:00:11 > 0:00:15President Trump gets the Christmas present he's been waiting
0:00:15 > 0:00:17for as the US Congress finally passes sweeping tax reforms.
0:00:17 > 0:00:24Live from London, that's our top story on Wednesday, 20th December.
0:00:36 > 0:00:40The US Senate approved the changes after midnight,
0:00:40 > 0:00:43but will the reforms to the world's biggest economy help
0:00:43 > 0:00:47the rest of us too?
0:00:47 > 0:00:49Also in the programme - Uber prepares for a hugely important
0:00:49 > 0:00:55court ruling that could change the way it works across Europe.
0:00:55 > 0:01:01We have the latest from the markets.
0:01:01 > 0:01:08Asian shares bobbed lower in a choppy session on Wednesday.
0:01:08 > 0:01:13European markets have opened higher.
0:01:13 > 0:01:15And bringing electricity to 20 million people.
0:01:15 > 0:01:18We'll get the inside track on one firm's plans to use solar energy
0:01:18 > 0:01:20to power millions of homes in Africa - without installing expensive
0:01:20 > 0:01:21networks and cables.
0:01:21 > 0:01:24And as the work week eases into Christmas, we want to know -
0:01:25 > 0:01:26what is suitable office attire?
0:01:26 > 0:01:28Is it your Christmas jumper?
0:01:28 > 0:01:30Or your glittery shoes?
0:01:30 > 0:01:32Let us know - with pictures - what you're wearing
0:01:32 > 0:01:33to work this week.
0:01:33 > 0:01:38Just use the hashtag BBC Biz Live.
0:01:39 > 0:01:42Hello and welcome to Business Live.
0:01:42 > 0:01:45Let's start in the United States because the world's biggest economy
0:01:45 > 0:01:49is on the brink of its most sweeping tax changes in a generation.
0:01:49 > 0:01:53The Senate passed the reforms just before 1am Washington time.
0:01:53 > 0:01:56Congress just needs to hold one more procedural vote before
0:01:56 > 0:02:02President Trump can claim his first, big, legislative win.
0:02:02 > 0:02:04This entire package is likely to cost $1.4 trillion
0:02:04 > 0:02:05over the next ten years.
0:02:05 > 0:02:08Most of that will be added to the national debt
0:02:08 > 0:02:17which is already over $20 trillion.
0:02:17 > 0:02:19The biggest tax cut in the final version drops the corporation
0:02:19 > 0:02:20tax from 35% to 21%.
0:02:20 > 0:02:22Something President Trump says will help economic growth.
0:02:22 > 0:02:26On an individual level, the top tax rate will fall,
0:02:26 > 0:02:32for the highest and lowest earners, with a top rate of 37%.
0:02:32 > 0:02:38David Wills in Washington and has the details.
0:02:38 > 0:02:44The ayes are 51.They voted along party lines in the Senate to approve
0:02:44 > 0:02:47the most sweeping overhaul of the American tax system in 30 years.The
0:02:47 > 0:02:53tax cuts and jobs Act is passed.A Bill barely six weeks old and still
0:02:53 > 0:02:59clearly a little rough around the edges.The motion to reconsider is
0:02:59 > 0:03:04laid upon the table.The House Speaker's jubilation proving
0:03:04 > 0:03:07premature after it emerged certain provisions didn't confirm with the
0:03:07 > 0:03:11rules of the Senate. The House will vote on a tweaked version of the
0:03:11 > 0:03:15Bill later today, but that doesn't change the essence of the
0:03:15 > 0:03:19legislation or the opposition to it. The worst Bill in history because
0:03:19 > 0:03:22the number of people that it affects, the amount of money it
0:03:22 > 0:03:28sucks up to the higher income and the impact on our future deficits.
0:03:28 > 0:03:33Today we are giving the people of this country their money back. This
0:03:33 > 0:03:39is their money after all. You're lying.Opponents point out
0:03:39 > 0:03:44the Bill will add $1 trillion to the national debt.They're putting it on
0:03:44 > 0:03:48the credit card.But Republicans argue it will strengthen the economy
0:03:48 > 0:03:52and boost jobs.Merry Christmas. This is a good day for America. This
0:03:52 > 0:03:55is a good day for workers. This is a great day for growth and we're very
0:03:55 > 0:04:00excited about this moment. The Bill includes permanent tax cuts
0:04:00 > 0:04:04for American corporations which the Trump administration says will make
0:04:04 > 0:04:08those corporations more competitive and temporary tax cuts for around
0:04:08 > 0:04:1280% of the American population. The amount varying according to their
0:04:12 > 0:04:17level of income. Before it emerged that there was to be another vote in
0:04:17 > 0:04:22the House, President Trump tweeted his congratulations to the great
0:04:22 > 0:04:26House Republicans who enforced the Bill, but the president's claim that
0:04:26 > 0:04:29the tax plan will cost him and his family a fortune is being questioned
0:04:29 > 0:04:32in the light of his continued reluctance to release his tax
0:04:32 > 0:04:37returns.In some ways particularly on the personal side, the president
0:04:37 > 0:04:42will likely take a big hit, but on the business side he could benefit.
0:04:42 > 0:04:48President Trump could sign the tax Bill into law as early as today.
0:04:48 > 0:04:51It's the first major legislative victory since he took office in
0:04:51 > 0:04:54January.
0:04:54 > 0:04:56Joining us is Trevor Greetham, Head of multi asset,
0:04:56 > 0:04:59Royal London Asset Management.
0:04:59 > 0:05:04Nice to see you, Trevor. Look, it's interesting. We have said it is a
0:05:04 > 0:05:07Christmas present for Donald Trump. He has been pushing this for quite a
0:05:07 > 0:05:11while. Seen a big achievement of his administration. Is it quite a done
0:05:11 > 0:05:14deal?I think it is. There is a procedural difficulty which means it
0:05:14 > 0:05:17has to go back to the House for a vote, but everyone is lining up
0:05:17 > 0:05:20their press conferences and it is pretty clear that it's going to go
0:05:20 > 0:05:24through.The market seems to like this. We have seen a rally, but do
0:05:24 > 0:05:28the economics behind this work? Is it a tax cut for all or just the
0:05:28 > 0:05:30high earners, the millionaires and the billionaires as the Democrats
0:05:30 > 0:05:35would say?In terms of the tax cut, most of it, the lasting tax cut will
0:05:35 > 0:05:43be for the top 1% or 0.1% of earners who don't necessarily spend this
0:05:43 > 0:05:48extra money, they just keep it. The corporate tax cut is substantial as
0:05:48 > 0:05:53you said, 21% makes the US quite competitive. There are incentives to
0:05:53 > 0:05:57do more capital spending and there are tax breaks and to take money
0:05:57 > 0:06:00back to America that's parked overseas. So it should boost the US
0:06:00 > 0:06:02economy, but people have been talking about this tax cut for a
0:06:02 > 0:06:06long time. We've had strong stock markets in December as the news
0:06:06 > 0:06:09came, that it was actually going to happen and sometimes it is better to
0:06:09 > 0:06:13travel than arrive. I think next year the markets will be thinking
0:06:13 > 0:06:17about other things like China, is China slowing down inThe markets
0:06:17 > 0:06:21like this because they have been factoring this in already, the
0:06:21 > 0:06:26question is whether it filters back through? We have seen record highs
0:06:26 > 0:06:30for the Nasdaq and the Dow Jones? The US economy is growing rapidly,
0:06:30 > 0:06:35about 4% growth. We are seeing the same in Europe so we've got strong
0:06:35 > 0:06:38growth with low interest rates and stock markets like that. The
0:06:38 > 0:06:43question next year will be is there a new theme? Is it China slowing? Is
0:06:43 > 0:06:47it interest rates going up? We are late in the business psyche toll do
0:06:47 > 0:06:52a big stimulus like this. If you boost growth and unemployment is
0:06:52 > 0:06:55low, people will be watching wage inflation. It maybe what you gain
0:06:55 > 0:06:59from a tax cut you lose from interest rate rises.I suspect we
0:06:59 > 0:07:05may talk about this again, it will run and run! Trevor, thank you.
0:07:05 > 0:07:08Let's take a look at some of the other stories making the news.
0:07:08 > 0:07:10Supermarket giant Tesco can take over food wholesaler Booker
0:07:10 > 0:07:16in a deal worth £3.7 billion, that's nearly $5 billion.
0:07:16 > 0:07:18The deal was under scrutiny from Britain's competition regulator
0:07:18 > 0:07:20over fears it could stifle competition in the grocery market.
0:07:20 > 0:07:22Critics had expected the regulator to insist that Tesco
0:07:22 > 0:07:24sell off some stores, but the deal has been
0:07:24 > 0:07:29given the green light.
0:07:29 > 0:07:32YouTube has signed a second global deal with a major music label, as it
0:07:32 > 0:07:35expands its subscription businesses.
0:07:35 > 0:07:39After signing a deal with Warner Music in May,
0:07:39 > 0:07:43the online platform has now added Universal Music Group
0:07:43 > 0:07:45which represents artists including Taylor Swift and Jay Z
0:07:45 > 0:07:48in a deal it says would provide artists with more
0:07:48 > 0:07:53flexibility and pay.
0:07:53 > 0:07:56The auto-maker, Subaru, is investigating whether its inspectors
0:07:56 > 0:07:59may have faked data on vehicle mileage readings during inspections
0:07:59 > 0:08:00conducted on cars sold in Japan.
0:08:00 > 0:08:03The Japanese firm says uncertified staff were carrying out tests
0:08:03 > 0:08:05on new cars sold on the domestic market for decades.
0:08:05 > 0:08:07The news prompted shares in the firm to fall 8.5%,
0:08:07 > 0:08:15making them the most heavily traded stock on the Tokyo Stock Exchange.
0:08:18 > 0:08:22Is Uber a taxi firm or not?
0:08:22 > 0:08:24The European Court of Justice is due to give
0:08:24 > 0:08:29us its opinion any minute now.
0:08:29 > 0:08:33It has decided it is a transport company. There was a question about
0:08:33 > 0:08:38whether it is a transport company or indeed whether it would be a ride
0:08:38 > 0:08:40hailing app.
0:08:40 > 0:08:43Anna McCaffrey is an Employment lawyer at Taylor Wessing.
0:08:44 > 0:08:50The right decision, do you think?It is consistent with the line of case
0:08:50 > 0:08:53law and litigation in various countries that Uber have been up
0:08:53 > 0:08:59against. And I suppose it's what we expected given that the original
0:08:59 > 0:09:03advisor to the court, the advocate general had come to the same
0:09:03 > 0:09:07decision as well.Talk us through the two different options the court
0:09:07 > 0:09:12had here. It was about how you define what Uber does and the legal
0:09:12 > 0:09:18implications?At its most basic level the court was asked to decide
0:09:18 > 0:09:23if Uber was a digital company and if it was a digital company there are
0:09:23 > 0:09:27certain EU rules about not imposing undue restrictions on online
0:09:27 > 0:09:30companies. If it is a transport company, EU law has less influence
0:09:30 > 0:09:34and it is up to each country to decide how they regulate transport
0:09:34 > 0:09:39services. So that nens there is more scope for each country to decide how
0:09:39 > 0:09:43to regulate and so therefore, things like taxi licensing rules, and
0:09:43 > 0:09:49regulation of taxis in each country mean that they come into play which
0:09:49 > 0:09:54means Uber that is a lot more rules it has to comply with than if it was
0:09:54 > 0:09:59a digital company.This has gone to expose the vast casmed in regulation
0:09:59 > 0:10:02when it comes to what is happening in the real economy and businesses
0:10:02 > 0:10:05that are developing now and the companies that exist on paper that
0:10:05 > 0:10:08they have rules for. They always seem, at least a few steps behind?
0:10:08 > 0:10:16Yes. I think it is a challenge for a MP like Uber that operates in so
0:10:16 > 0:10:19many countries if they have to comply with different sets of
0:10:19 > 0:10:22regulation, which are not the same country to country, it has a
0:10:22 > 0:10:25potential impact on their business model. And you know, we do come back
0:10:25 > 0:10:32up against this question of is, are the legal rules fit for developing a
0:10:32 > 0:10:36new type of company in the gig economy?What difference would this
0:10:36 > 0:10:39make for people that are using the service? Will it really change
0:10:39 > 0:10:43anything?It shouldn't do. It is fair to point out that in many cases
0:10:43 > 0:10:47Uber already have to comply with transport regulation for example in
0:10:47 > 0:10:55the UK and France and Germany. Uber has said that they don't think there
0:10:55 > 0:10:59are ruling a transport company will make a difference to where they are
0:10:59 > 0:11:13operating.The legal repercussions run and run. Anna McCaffrey there.
0:11:13 > 0:11:21Uber is indeed a transport company and not a digital so it has to abide
0:11:21 > 0:11:27by the rules relating to transport.
0:11:27 > 0:11:30When it comes to Brexit the status of London as a global financial
0:11:30 > 0:11:33centre is one of the most pressing concerns for the UK Government.
0:11:33 > 0:11:36And the BBC has learnt that EU banks are to be allowed to continue
0:11:36 > 0:11:38operating in the United Kingdom after Brexit without
0:11:38 > 0:11:42additional regulation.
0:11:42 > 0:11:47Our Business Editor Simon Jack has the story.
0:11:47 > 0:11:52Simon explain this for us.If you look at some of the big EU banks
0:11:52 > 0:11:57which have very significant presences in the UK and particularly
0:11:57 > 0:12:05in London, take Deutsche Bank. It does billions in business. In a post
0:12:05 > 0:12:08Brexit scenario the Bank of England has been trying to make up its mind
0:12:08 > 0:12:13do we allow that to continue to be a branch which it is at the moment, it
0:12:13 > 0:12:17is offshoot of its Frankfurt headquarters, but all the decisions
0:12:17 > 0:12:22happen in Frankfurt, or do we say we would feel more comfortable if you
0:12:22 > 0:12:25would become a subsidiary and become a UK entity. That's what they could
0:12:25 > 0:12:29have done. I understand that the Bank of England today will say we're
0:12:29 > 0:12:34comfortable with the current situation. Those branches which can
0:12:34 > 0:12:41remain branches without having to sub sidrise. So it will be seen as
0:12:41 > 0:12:45an act of goodwill to those European operators there. Also in London's
0:12:45 > 0:12:50interest, you don't want to boot out a bank that has 9,000 people all
0:12:50 > 0:12:54paying a lot of tax. Self interest, but hopefully some positive mood
0:12:54 > 0:12:56music towards what is sometimes a fractious conversation about the
0:12:56 > 0:13:01future of banking in the eurozone. Thank you very much. That was Simon
0:13:01 > 0:13:04Jack our business editor. It will be fascinating to see what happens to
0:13:04 > 0:13:07the bank stocks in Europe as a result.
0:13:07 > 0:13:12Asian stocks have had a mixed session - waiting on US
0:13:12 > 0:13:14legislators to rubber stamp the tax-cut package.
0:13:14 > 0:13:17The idea is that the money released into the real economy would
0:13:17 > 0:13:18help to accelerate economic growth.
0:13:18 > 0:13:22Whether that'll happen or not remains to be seen.
0:13:22 > 0:13:24But regardless, we've seen global equity gauges
0:13:24 > 0:13:26move to historic highs.
0:13:26 > 0:13:30Over in Europe, markets have opened.
0:13:30 > 0:13:36The food retailers are in focus after Britain's competition
0:13:36 > 0:13:39regulator gave final clearance to Tesco to buy the wholesaler
0:13:39 > 0:13:41Booker for just shy of $5 billion.
0:13:41 > 0:13:42It's a big day in Washington today.
0:13:42 > 0:13:48Yogita Limaye has the latest on how this will move Wall Street.
0:13:48 > 0:13:53Investors in the US will still be watching the painfully drawn out
0:13:53 > 0:13:57process of the Republicans' attempts to pass tax reform.
0:13:57 > 0:13:59But they will also have a few items of economic and
0:14:00 > 0:14:01corporate news to watch out for.
0:14:01 > 0:14:02The National Association of Realtors will
0:14:02 > 0:14:06be releasing the latest figures for existing home sales in the US.
0:14:06 > 0:14:08It is assumed that over all the American
0:14:08 > 0:14:10housing market is still ticking over.
0:14:10 > 0:14:12Forecasts are for over 5.5 million home sales having taken
0:14:12 > 0:14:15place in the month of November, nearly 1% more than in the
0:14:15 > 0:14:18previous month.
0:14:18 > 0:14:20On the corporate front, food giant General Mills releases second
0:14:20 > 0:14:25quarter earnings.
0:14:25 > 0:14:27They're expected to show increased sales.
0:14:27 > 0:14:29And Blackberry, long ago the giant of
0:14:29 > 0:14:31the smart phone market, now much reduced, and expected to post
0:14:31 > 0:14:37another quarter of falling revenue.
0:14:37 > 0:14:39Still to come:
0:14:39 > 0:14:43How do you get power to remote parts of Africa?
0:14:43 > 0:14:47Solar energy is an obvious choice and now one firm says it can do it
0:14:47 > 0:14:48more cheaply and more easily than ever before.
0:14:49 > 0:14:50We'll meet the boss later.
0:14:50 > 0:15:00You're with Business Live from BBC News.
0:15:00 > 0:15:06Let's talk about house prices.
0:15:06 > 0:15:09We've had the latest forecast and it doesn't make for great
0:15:09 > 0:15:11reading if you're thinking about selling your home next year.
0:15:11 > 0:15:13In short, things just aren't moving.
0:15:13 > 0:15:15Let's speak to Simon Rubinsohn, chief economist at the Royal
0:15:15 > 0:15:18Institution of Chartered Surveyors - the group that carried
0:15:18 > 0:15:21out the study.
0:15:21 > 0:15:30Morning, if you're trying to sell or buy, is not looking great.The issue
0:15:30 > 0:15:35about transaction volume, the amount of activity is a big issue and one
0:15:35 > 0:15:41that has been building. There is not really the momentum in the market at
0:15:41 > 0:15:45the moment that you know one would perhaps expect given the state of
0:15:45 > 0:15:51the economy and a lot of people are in jobs and employment is rising. It
0:15:51 > 0:15:56is not creating a dynamic market. But I would add that while that is
0:15:56 > 0:16:03true at a headline level the regional picture is quite divergent
0:16:03 > 0:16:09and London and the south-east in particular seems to be where the
0:16:09 > 0:16:15lack of momentum is greatest. If you're looking to buy or sell in the
0:16:15 > 0:16:18Midlands, in north, Scotland, Northern Ireland, Wales, the picture
0:16:18 > 0:16:21is different and many of your viewers will be living in those
0:16:21 > 0:16:28parts.Does the level of transaction volume tally with what is happening
0:16:28 > 0:16:32with prices and we may see a fall in the south-east and rising in other
0:16:32 > 0:16:37places? Is that the right sort of take from this?I think it is. Both
0:16:37 > 0:16:47prices and activity will be more upbeat and more positive the further
0:16:47 > 0:16:53you are away from London.Thank you we have a few great stories on the
0:16:53 > 0:17:06web page.This is related to the access to superfast broadband and
0:17:06 > 0:17:13the Government rejected an offer from BT to connect homes. The
0:17:13 > 0:17:16regulator wants it enshrined in legal rights and says everyone
0:17:16 > 0:17:29should have access to it by 2020, a legal right to at least 10 megabits.
0:17:29 > 0:17:33The details are on the web-site.
0:17:44 > 0:17:49Our top story, President Trump is expected to sign sweeping tax
0:17:49 > 0:17:55reforms into law after they were approved by a vote in the Senate at
0:17:55 > 0:18:021am Washington time.Another story, Uber has suffered a set back in the
0:18:02 > 0:18:07European court of justice, it has been decided they will be treated as
0:18:07 > 0:18:15a transport company, rather than a digital service. Uber tried to
0:18:15 > 0:18:24suggest all it does is connect passengers with drivers. But they
0:18:24 > 0:18:26are now a transport company.
0:18:26 > 0:18:29Access to affordable energy is seen as a crucial step in helping
0:18:29 > 0:18:32to boost economic prosperity in developing countries.
0:18:32 > 0:18:36While the situation has improved dramatically,
0:18:36 > 0:18:38the International Energy Agency says about 1.1 billion people worldwide
0:18:38 > 0:18:42are still without electricity.
0:18:42 > 0:18:45Well one UK company called Bboxx is connecting hundreds of thousands
0:18:45 > 0:18:48of households using solar panels and batteries -
0:18:48 > 0:18:54which can power lighting, charge smartphones and even run TVs.
0:18:54 > 0:18:56It's aiming to deliver solar energy to 20 million people
0:18:57 > 0:18:58in just the next two years.
0:18:58 > 0:19:07Mansoor Hamayun is the co-founder and CEO of BBOXX.
0:19:07 > 0:19:13Nice to see you. Explain how it works. I said that this is about not
0:19:13 > 0:19:17really having that big infrastructure and not relying on
0:19:17 > 0:19:22big networks of cables, how does it work?Sure, you described over a
0:19:22 > 0:19:27billion people have no access to electricity and the sad fact is
0:19:27 > 0:19:34they're spending between five and 20 dollars a month on kerosene and
0:19:34 > 0:19:44other things. We can put solar panels in a range of appliances and
0:19:44 > 0:19:50get a price point lower than the existing expenditure. The way our
0:19:50 > 0:19:56customers pay is using mobile money. One of the big revolutions that is
0:19:56 > 0:20:02happening is the spread of mobile phones, that allows us to create the
0:20:02 > 0:20:06next generation utility that is connected through data rather than
0:20:06 > 0:20:12wires. That allows massive amounts of affordability and that is what we
0:20:12 > 0:20:19are seeing that can add 100 to 500 new homes a day. We have reached
0:20:19 > 0:20:32150,000 households so far. This is the leapfrog we think will happen in
0:20:32 > 0:20:3723 same that happened with the traditional centralised
0:20:37 > 0:20:42infrastructure.The leapfrogging technology is about scale, how do
0:20:42 > 0:20:49you manage that, that will be the big challenge for your business?
0:20:49 > 0:20:54Yes, cloud-based solutions is an important part of this. The fact we
0:20:54 > 0:20:57can generate data per household and predict problems before it happens.
0:20:57 > 0:21:04So that means we can run a proactive business model. The other parties
0:21:04 > 0:21:09human capital, to electricity the developing word, we need to create a
0:21:09 > 0:21:14massive energy service company and that means training people. Today we
0:21:14 > 0:21:21employ over 500 people directly with over a thousand agents. This is not
0:21:21 > 0:21:27just about technology, but investing in the human capital to service the
0:21:27 > 0:21:32utility of the future.You touched it on being cheaper than gas and
0:21:32 > 0:21:38kerosene, how do you make money out of this?We finance customers and we
0:21:38 > 0:21:42make money on the financing and we make money by producing the
0:21:42 > 0:21:50equipment. We are producing the battery boxes and appliances and so
0:21:50 > 0:21:56we have an integrated business model so make money on the hard ware and
0:21:56 > 0:22:02the finance. The exciting point is that we have a business model that
0:22:02 > 0:22:09allows us to reach the most rural poor and yet be able to create an
0:22:09 > 0:22:14economically viable money that has attracted venture capital money from
0:22:14 > 0:22:19big firms. That is why I I believe there is a possibility to see the
0:22:19 > 0:22:24world getting electrified within my own lifetime.Good to talk to you.
0:22:24 > 0:22:43Thank you. A South Korean start up has revealed a new robot.It is from
0:22:43 > 0:22:47The Institute of Science lab. Take a look.
0:23:06 > 0:23:13The robot can be used for carrying person from a point to B without his
0:23:13 > 0:23:19or her physical effort. That means he can help for the disabled person
0:23:19 > 0:23:25and also his arm is very powerful and can be used for carrying heavier
0:23:25 > 0:23:31chairs. We are thinking of these personal applications in the future.
0:23:38 > 0:23:47Oh, just having my coffee! We were asking about wearing Christmas
0:23:47 > 0:23:53jumpers. Can I show you Victoria's shoes? She is wearing these to get
0:23:53 > 0:24:01her in the festive mood. They're a bit glittery. That is my Christmas
0:24:01 > 0:24:06tie, with Rudolf. You can't see it from afar. Thank you for all your
0:24:06 > 0:24:11messages. James who works here sending us a picture of his
0:24:11 > 0:24:20Christmas ear rings. Neil sent us his Christmas tie.There we go.
0:24:20 > 0:24:28Thank you. Glittery snow flakes as well. Trevor, are you wearing
0:24:28 > 0:24:33anything Christmassy?I haven't started.You missed the memo?I'm
0:24:33 > 0:24:38quite behind as well.I don't know when it officially starts. Now the
0:24:38 > 0:24:50papers. Where do you want to start? Bit coin billionaires.These are the
0:24:50 > 0:25:05twins. And they have become bit coin millionaires.They started at $10.
0:25:05 > 0:25:12Now it is 20,000. It is a 200,000% increase. We talk about stock
0:25:12 > 0:25:20markets up 20%.It is a paper profit. Unless you sell.The
0:25:20 > 0:25:24web-site seems to work better when you're trying to buy. It doesn't
0:25:24 > 0:25:30stack up to me. Because as a medium of exchange you want something to be
0:25:30 > 0:25:36stable. And if it goes up 2,000 times it could be going down 2,000
0:25:36 > 0:25:42times. People are buying, because other people are buying. It feels
0:25:42 > 0:25:47like it will go badly long. So we will watch their fortunes rising and
0:25:47 > 0:25:55falling.Thank you. Good to see you. We will see you very soon. Thanks
0:25:55 > 0:25:57for your company today. Goodbye.