Unclear. 17 weapons were found in his room as well as bump stocks, a legal device that makes a gun shoot more rapidly. Even the nra has signaled it will not oppose it. President trump and the first lady visited the victims and thanked the first respondsers. We pray for the recovery of the injured and those injured officers who so bravely threw themselves into danger when duty called. And we grieve the loss of the Law Enforcement personnel who were killed in this vicious attack. Maria the president also visited puerto rico tuesday, meeting with victims of hurricane maria. He caused a stir when he told Geraldo Rivera he wanted to clear puerto ricos massive debt. We have to work something out. We have to look at their debt structure. They owe a lot of money to your friends on wall street. They will have to wipe that out. I dont know if its Goldman Sachs or whoever it is. Maria the administration walked it back but not before the boonds other securities plummeted. The economy lost 33,000 jobs, declining for the first time in six years. That was worse than expected. Some people believe its the result of the hurricane season. The stock market hit another big week with more records. Ending the week in the green. The former equifax ceo was grilled on disclosures the breach even hurt more than originally thought. Amazon reportedly developing its own delivery systems. And netflix announcing it will be raising prices on its u. S. Subscription this month. It will go up 13. 99 and the standard plan 1110. 99. John levin is with us. This market has been incredible. Its up 5 trillion since election day. But you are sceptical. Trump is good for the market so far. Maria would you buy new stock today . John yes. Many companies. I think it overwhelming idea, its men a momentum market for a segment of the market. Good earnings, good product and things. Many stocks have not participated fully and are down. I think its a split market. Maria you mentioned earlier that the russell 2000 up deks is not seeing earnings growth. Would you buy the russell . The small and mid Cap Companies are expected to be beneficiaries of the new tax plan. There is a smaller portion of companies that would benefit from a reported tax standpoint. There is a difference between cash flow and taxes. However, a little more than 2,000 companies because of takeovers and addition. We believe more than 30 of them have no earnings. Its a momentum trade so people are buying without knowing what the index is. We think between 50 to 200 times earnings. Its not investing to buy that index. Maria how do you want to invest . We are on the doorstep of the Third Quarter earnings. The banks are kick things off this coming thursday. A lot of people feel the banks will do well on this prospect of a tax reform package. The s p earnings are said to be up 4 . John i would like one company at a time to invest in, its new products and what the executives are doing. There are plenty of examples. And plenty of stocks that are down a lot. Many of them have leverage or energy. The market remains split and opportunities exist. And some of the disappointment like citlike citicorp, there ars that are up that we think are interesting. Maria you said a lot, john. John levin joining us. Well talk with cisco executive John Chambers coming up. Announcer from a tighten Tech Corporation to a billion dollar startup. John chambers ex chains why hes i am totally blind. And non24 can throw my days and nights out of sync, keeping me from the things i love to do. Talk to your doctor, and call 8442142424. Music plays throughout take 5, guys. Tired of your bladder always cutting into your day . You may have overactive bladder, or oab. Thats it we really need to get with the program and see the doctor. 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Its great when you see a hundred orders come in, a hundred orders come in, but then you realize ive got a hundred orders i have to ship out. Shipstation streamlined that wh the order data, the weights of , everything is seamlessly put into shipstation, so when we print the shipping ll everythings pretty much done. Its so much easier so now, were ready, bring on t. Shipstation. The number one ch of online sellers. Go to shipstation. Com tv and get two months free. Hi, im the internet you know whats dtj get a job ting. Hi, guys. Im back. Time to slay heals, heals, heals yes youuuu no, i have a long time girlfriend. Mom i need my macaroni you know whats easy . Building your website with godaddy. Pick a domain name. Choose a design. You can build a website in under an hour. Yeah whoo yes get your domain today and get a free trial of gocentral. Build a better website in under an hour. Maria John Chambers is stepping down from the board of cisco the end of this year. But hes joining the board of sprinkler, a 108 billion dollar unicorn. He will be knee deep in startups. I asked him about his move into the startup scene and his 20year legacy at cisco. Cisco was an exciting time. I joined the Company Coming just off 70 million in seats and bright to 50 billion. We moved to 70,000 people. We took the internet and instead of selling routers and switchers. We said it changes the way you work, live, learn and play. We did this by being customer driven, focusing not on competition but the transition of everything in the internet and combined those on products that focused on outcomes. We called them architectures. We acquired 18 some companies while i was ceo and we had strong internal ability for innovation. In terms of where the market is going. The next generation of technology will in the digital world. Every company in the world, retail, healthcare, government, et cetera, will become a technology company. You will move from connecting a thousand device to the internet to 500 billion in the future. This will allow to you ching Business Models and introduce huge levels of competition and productivity. This is where you see each country become a digital country like in france, and india. Future startups is where all future growth will in the future. Maria tell me why sprinkler is so important. You know if you look for the next decade or two, Large Companies will not grow. 40 of them will go out of business as digitization occurs. And 25 of what we do in our jobs will disappear. If we dont excel rate startups in this country across all states. My home in West Virginia. Cleveland, ohio, et cetera, as well as berlin and paris and tel aviv and new delhi. It will be the generation of all job growth. Just like we did with the internet when i said it will change the future. I think you will see digitization change the future. The startups will seat inclusionary possibility for people to participate in this transition. When i look at a company like sprinkler, is there a market transition going on. A parole mod until somebody she or he can bounce ideas off of. Can they like we did at cisco become the number one or number two player. Who are the lighthouse players. Can i help a company dramatically grow. To be their Business Partner and advisor, that will be exciting. Maria one of the issues Larger Companies are facing, they cant possibly mine all the data out there themselves. Sprinkler was able to mine a lot of date ar. Talk to us about why this data is so critical. If you think about digitization, it isnt just the 500 million device its getting the information to the right person at the right time to make the decision. Thats where Artificial Intelligence and the cloud comes in. It allows you to mine the data and allow you or a machine to make the decision. The data is you and i are going to run in the new york marathon. You have dont many times. Nike will see we are talking about social media and im talking about buying shoes. They will if you are out nike shows. Here is what the temperatures will be. They also help you on what you should eat. There are different times of customer relationships. This ties to my overall position for all the startups im doing. You are seeing startup after startup to cast these market transitions. I do a lot of things i can do better. But i dont miss market transitions. We combine productsage outcomes. If i do my job right you will see these 10 to 14 companies, perhaps 3, 5 or more go public. And so far each one of them is on a tremendous role. My ability to get market transitions right. Part of them are in paris, germany and india, then say how do we create a startup nation again in the u. S. Where we create 300 public companies. Ipos are the tip of the iceberg. The more Companies Going out of business than into business. You know that means there will not be jobs if you will 510 years from now, especially in midamerica and the southeast where i am from. I see this in every location. Maria the number of startups going public in the u. S. Has dropped in a big way. I want to ask you why you think that is. But let me stay with what you are doing. You are investing in 10 to 12 to 14 Startup Companies around digitization, Artificial Intelligence, machine learning, all of these in your opinion are the growth stories of the next 10 years. When you were at cisco driving growth you came up with the idea of the smart home and connecting everything in your home. You drove business in terms of the cloud. This is where the business was, cloud, growth there big time. A smart appliances. All niece appliances talking to one another. There is real growth there. You are smiforting a little in terms of the growth you are shifting in terms of where the growth is. Its coming from different places. A little bit after pivot. John thats right. We started off providing the internet just to Large Companies. We said this is how voice will be done over the internet with voice will be free. And we got the transitions along the way. We are about to do it again. I love leading market transitions. My goal is an aggressive one of doing a startup nation, startups in every state in this country and a startup world. You will see me partner with israel and france and india, with Prime Minister modi in under yeah. And watch macron of france. France got it right in terms of startups. They used tontd worst place in the world to do business. Literally in 2 1 2 years they moved from 120 to 130 start ups per year to 486. Maria they changed the labor laws. John yes, they did. They said how do we partner to create the right environment for entrepreneurs. Maria dont go anywhere. More my interview with John Chambers after this short break. Announcer Silicon Valley announcer Silicon Valley icon John Chambers says he ronoh really . Gs going on at schwab. Thank you clients . Well jd power did just rank them highest in Investor Satisfaction with full Service Brokerage firms. Again. And online equity trades are only 4. 95. I mean you cant have low cost and be full service. Its impossible. Its like having your cake and eating it too. Ask your broker if they offer awardwinning full service and low costs. How am i going to explain this . If you dont like their answer, ask again at schwab. Schwab, a modern approach to wealth management. So we created the only bed that adjusts on both sides to your ideal comfort, your sleep number setting. You can even see how well youre sleeping and make adjustments. Does your bed do that . The most amazing part is they start at 699. Thats 200 off our queen c2 mattress. 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A new kind of network designed to save you money. Call, visit or go to xfinitymobile. Com. Announcer welcome back to wall street week. Now more of Mariann Maria bartis interview with john claim befers cisco. Maria 20 years ago an article said robots will take over and replace humans in terms of jobs. What do you believe are the risks. Someone told me if you are not in machine learning, you are going to fall behind. But what is the Downside Risk . John i think you said it well. I think the upside risk outweigh the Downside Risk. In the 90s the average americans Household Income went up. The last time america got a pay raise. Every company, every job will have to have technology skills. It doesnt mean you have to understand Artificial Intelligence. But it means you have got to go upscale in terms of your skill level. And how schools k12 train people for how they use Technology Going forward. I think the concern is is 30 to 40 of the jobs we do today going to be displaced . The answer is yes. We as a society do not do our jobs if we dont change the Education System and create a new generation of startups to absorb this workforce. Maria if we are going to see 40 of the jobs go away. That would be why we havent seen the number of ipos we could expect. Is it the bureaucracy of regulation . John lets get back to 200 where we were on the nasdaq, then get up to 400. Then say what do we have to do from availability of Capital Investment and coaching across all 50 states. Is have my startups in atlanta and texas and illinois and West Virginia and Silicon Valley and say how do would make that happen . And how do we set a model those can follow for it. You asked a third question. Maria the third question was about the regulatory environment. Is that one of the reasons we saw the number of ipos slow down . Saying i would rather say private. I think thats one of the reasons the president has been trying to roll back regulations. John if you look at the number one issue the entrepreneur faces, its availability of capital its also an issue in terms of the tax rates are noncompetitive. As an entrepreneur if you have to pay tax rates with the regulations its too hard to start. Too often these entrepreneurs are just paying off their education bills for their children im sorry, for themselves. Then they are thinking about their children and how will they get their head above water to take the risk they need. How can the government and business Work Together . How about a delay in the repayment of your student loan if you create a startup and maintain 3 to 5 people in that startup. How do we partner with governors with the key universities to do that . I think its doable. By the requires when i started at cisco, i outlined an audacious goal. To do this through innovation, not just like the Old World Technology companies. But reinvented ourselves. That saw you tie products together that produced outcomes. Ill try to do that on a startedup world and startedup nations and Startup Companies. Maria more wall street week maria more wall street week right after this. Can i kick it . Yes you can can i kick it . Yes you can can i kick it . Yes you can well im gone Money Managers are pretty much the same. All but while some push High Commission investment products, Fisher Investments avoids them. Some advisers have hidden and layered fees. Fisher investments never does. And while some advisers are happy to earn commissions from you whether you do well or not, Fisher Investments fees are structured so we do better when you do better. Maybe thats why most of our clients come from other Money Managers. Fisher investments. Clearly better money management. [vo] quickbooks introduces he teaches lessons to stanley. And thats kind of it right now. But rodney knew just what to do. He got quickbooks. It organizes all his accounts, so he knows where he stands in an instant. Ahhh. Thats a profit. Which gave him the idea to spend a little cash on some brilliant marketing ha, clever. Wow, look at all these new students way to grow, rodney know where you stand instantly. Visit quickbooks. Com. Maria its time for a look at the market events that could impact your money. Stock market will be open columbus day and the bond market will be closed monday. The Federal Reserve minutes from the last meeting along with retail sales and Consumer Sentiment are the Economic Indicators to keep track of. Big week for the banks in terms of earnings. All report earnings this upcoming week. Next week on wall street week i hope you will join me. We are talking with the bond king himself, jeffrey gundlach. Catch me on Fox News Channel sunday at 10 00 a. M. Eastern. Thank you for joining me this week. See you next im bob massi. For 35 years, ive been practicing law and living in las vegas, ground zero for the american realestate crisis. But it wasnt just vegas that was hit hard. 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