Facebook, Jane, Amazon discussed on Gary and Shannon

Automatic TRANSCRIPT

A lot of wall street is waiting to see not so much what mark says but how the regulators and lawmakers come out this because if this becomes more than just a question of security and facebook has said they've increased their security they had ten thousand people hired for security at the start of this year by the end of this year they'll have twenty thousand people but if this story becomes more about the fundamental question of how a company like facebook which is behaving like every other company right now collects information and store that information and use it that information if that's the direction that this this questioning goes then i think that has a much greater impact jane was talking before the break about regulations regulations are very likely coming the degree of those regulations are going to have i think the much greater consequence if those regulations are saying you can no longer collect this kind of information or people have to be protected differently and have to sign off on let's say instead of an opt in or rather an opt out everything has to be opted in that's gonna change how people behave and it could also change how this company makes money and how so many others google alphabet amazon how these companies are making money well speaking of something that doesn't have a lot of regulation crypto currency i mean they just plummeted today bitcoin is now at sixty six hundred dollars it's just in the last month down twenty six percent light coins down thirty seven percent in a month theory of down forty four percent these crypto currencies are are tanking there was an interesting story on cnbc dot com that tom lee at fun strat a gold global advisors thinks that a lot of people are cashing out to meet their capital gains taxes on their crypto currency trades over the last year that the us whole household just in the us he estimates likely oh twenty five billion dollars in capital gains taxes just for their crypto currency holdings that's crazy to me.

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