a look at one company that's including fans in the music right marketplace we have a lot to get serious so let's get started. hours after signing the $1.00 trillion dollars stimulus package president biden said the goal for the u.s. vaccination efforts is to make every adult eligible by may 1st he described coded 19 as the latest war the u.s. is fighting us is still untangled in a number of wars right now biden highlighted the progress that has been made in recent weeks and said the goal is to allow small public gatherings as early as july 4th that says mean everyone's going to have that shot immediately but it means you'll be able to get in line beginning may 1 every adult will be able to get their shot to do this we're going to go for a 1000000 shots a day that i promised in december before ours was sworn in to maintain between our current pace of 2000000 shots a day i appreciate the rest of the world. because of it 19 vaccine from the u.s. company novak could become the latest hit the market a late stage trial found that it was 96 percent effective against the original strain of the coronavirus and 86 percent effective against a mutation 1st discovered in the u.k. the 2 shot drug use is harmless pieces of spy protein from the corona virus hiding inside a protein sub unit that is meant to stimulate an immune response and it has been praised for its lack of adverse reactions it's a different approach from the one taken by pfizer which uses marinade technology aimed at laying a blueprint for cells to build up immunity but you shot a drug is 95 percent effective developed in a partnership with a german company by on attack and is available in your early 45 countries the latest study show it is 94 percent effective at blocking asymptomatic infections the same technology is used for the vaccine from the journo which is more than 94 percent effective that you shot a drug developed in the u.s. has shown some promise against the u.k. variant but was found to be more than 12 times less effective against a mutation found in south africa the 1st to use the tried and tested a dino virus method and the 1st to register a covert 19 vaccine was russia with its sputniks be authorized by nearly 50 countries the drug has been shown to be nearly 92 percent effective and its latest partnership aims to make sputnik the available in europe a similar method was used by u.s. company johnson and johnson however in a single shot drug was found to be just 66 percent effective and was only recently approved for emergency use by the f.d.a. and w.h.o. astra zeneca also use the edina virus method for its vaccine but it was shown to be just 62 percent effective the u.k. based drug has also been suspended by nearly a dozen countries in europe and asia after patients reported blood clots days. after receiving the vaccine china's corona vacuous is inactivated particles of the virus to expose the immune system without risking a serious disease response its level of effectiveness has varied showing around 50 percent in brazil but over 91 percent in turkey the drug has been authorized by 15 countries and india's kovacs and uses the same method the latest studies show it is 81 percent effective with no light threatening side effects so far it has been authorized only in india iran and zimbabwe. markets were up this week as a success of the $1.00 trillion dollars stimulus package in the u.s. mixed with the continued vaccine rollout worldwide we started in russia where the mo x. is up sitting at record highs the ruble weakened against the dollar on friday after hitting 3 week highs as oil prices fell slightly after hitting 10 month china's shanghai composite is in the red falling nearly 2 percent on monday amid concerns over rising bond yields however the index was able to gain some of those losses back by the end of the week in hong kong a similar picture the hong saying is down 1.2 percent for the week a growing number of coated 1000 cases is also causing concern in japan the nikkei is in the green closing out friday up 2 percent technology and energy stocks rebounded from recent losses however there was quite a bit of selling in the real estate and financial sectors moving over to india now where the sun sexes up for the week despite losing nearly one percent on friday reacting to u.s. bond yields and a rise in coated cases despite recently falling into a recession the o.e.c.d. believes india will be the world's fastest growing economy this year projecting a 12 point. 6 percent expansion then australia the a.s.x. is up after losses earlier in the week the 2 largest mining companies in the region saw gains has to the travel industry in response to the news of a nearly 1000000000 dollars stimulus package the all share in south africa is in the red for the week while the index hit record highs on thursday as the mining sector did well on hopes of a global recovery it took losses on friday following the announcement of the country's economy contracted by 7 percent in 2020 and london we have a green arrow for the footsie the country's economy contract by 2.9 percent in january from the month prior but it was a blast than initially anticipated luxury brand burberry's saw gains of as much as 10 percent friday after announcing business was up 30 percent in december the french caca and german dax were also in the green the ease approval of the johnson and johnson vaccine helped markets as did the european central bank's announcement that it would bolster its bond buying efforts borrowing cost throughout the block writes we have another green arrow for the best but in brazil this despite a worsening coburg crisis in the nation the reality rose 2 percent to close out the week after inflation data came in above 5 percent for february for the 1st time in 4 years and mexico the b.m.v. is up this week the peso however fell slightly ahead of the next meeting of the country's central bank mexico's deputy finance minister said officials are hoping 80000000 residents would be vaccinated by the end of july and here in the united states we have 3 more green arrows but dow and s. and p. both hit records as president biden signed that long awaited stimulus package while the tech heavy nasdaq recovered from someone from the recent tech sell off u.s. biotech firm novak's shares jumped more than 50. 100 percent prior to market open after studies show their covert vaccine is highly effective and finally in canada but toronto stock exchange's up this week hitting new record highs benefiting from rising energy prices and the easing inflation concerns heading into the next week we will keep an eye on the vaccine rollout worldwide as well as inflation and bond yields here in the united states and that is your global market walk. a proposed bill in the u.s. congress is attempting to create a working group to figure out how to set guidelines for crypto according to the lawmakers and volved the ultimate goal of the legislation called be eliminate barriers to innovation act of 2021 would be to clarify when the f.c.c. has jurisdiction over a particular token or crypto currency so joining me now to go further in depth on this topic are boom bust co-host ben swan and christy i ben let's start with you here was specifically is this bill attempting to clarify. well there's a lot that needs to be clarified with that i'd say the number one thing is sure to clarify is when a token is considered a security and when it's considered a currency she right now the f.c.c. doesn't have very clear guidelines about this at all in fact one of the problems that we've seen over the last couple of years you'll have a token that's created and then the f.c.c. at the time that it's created won't be sure exactly what it is the way to a couple of years money is raised i c o's take place that's an initial coin offering or in some rare cases we've had things called s t o securities tokens offerings that take place people buy in and then the f.c.c. comes like a couple years later and says actually that was all illegal and you weren't supposed to do that that's happened with multiple projects in the past so one of the problems is that you are creating the token if you're attempting to do this you don't really know exactly what the f.c.c. once from you upfront nor do you know what they want from you on the back end and it's ever changing and that's been hugely problematic the question will be whether or not this particular attempt brings clarification or does it simply become a tool for cracking down on crypto that certain people in government don't like we don't know the answer to that but if it truly is an attempt to make things more clear that would be a good thing because clarity is badly needed and that's almost a catch 22 for those who are involved in those projects because you want to blow up you want to become popular but then at the same time you don't want to become so popular that it garners the attention of the as they say and then they go after you as a result now kristie what this bill help or hurt the growth of the crypto industry . well while there are some advocates that insist more regulation is a good thing for the industry as a painful way from and humid auction i think it's dangerous here as it will only end stifling innovation and putting digital currencies as a disadvantage beyond which apparently seems to be the goal because central banks are determined to protect the power i mean the u.s. has already been very tough with its crypto regulation when it stopped libor of the ford even got off the ground for fear that it would undermine the dollar and quote threaten the global economy and so far the u.s. has accustomed to being at the forefront of technology stifling innovation will see more of the bible and talent leaving that choice or market the friendly havens like switzerland multitude ham but it would only put the us further behind technologically making the coming lose out of billions of dollars so the build up and just broke out seeming to be open seems like it was going to help to find her by carrying caught by what's our tokens will be security or commodity so it doesn't seem like there's too much regulation around it but there is because let's not forget we're still talking about startups here most of the project that launched don't have huge amount of funding they launch ideas in order to get funding they're not backed by a big deal with teams of lawyers to help them navigate through the complexity of classifications or securities or modify their merrily trying to get enough funding to get and b.p. and get their project off the ground so why do you think that financial product and in fact are one of the most difficult bases for startups to enter because a very high barriers of entry set by u.s. financial regulators running fan tech products that only been a handful of successful then tech startups and all of them are massive legal expenses in order to satisfy regulars there has been no other sectors that have had as many hoops to jump through as financial startups like robin hood or ben the financial space is the most regulated industry already and that innovation so if you're requiring some little tiny startups to say have the legal bill to deal with something as heavy as a car. if occasion to satisfy regulators and that's why it's dollars wasted on what could have been used for r. and d. and deployment so most studies chris does start of don't have spare cash to burn like that so now this bill an additional regulation that will only start to hurt the industry well that's an excellent point there and something about that yeah sure i had. to christie's point and i think she's a she's spot on what she's saying keep in mind that the point of an ice c.e.o. this initial point offering concept was literally created to get around exactly that barrier to entry that she's describing yeah absolutely when it comes to the tech space it's very difficult and the reality is. if you look at them aside from that listen there are some that are absolutely scams but if you look at the ones that have actually proven to be successful in terms of actually creating new technology they have been so far and could certainly be the most disruptive force to the tech space that we have seen even in certainly in the last 10 years i mean this is where innovation is coming from and i think there is definitely an effort to cycle so certainly and there are some things that congress could reviewing but this bill may not be the right thing especially when you're talking about the start ups that may have a great incredible ideas that actually draw support and popularity but getting those off the ground is what it's all about at the end of the day now ben back to you talking about bitcoin it's proving its flexibility as an investment rising along with tack and social media stocks when those securities are rallying and still managing eke out gains when traditional market investors suddenly go cold on the technology train how is that coin do it a miss. yeah well we have seen big going on right alongside those stocks and listen christie is a big proponent of big coin as a hedge against inflation as a store of value asset i totally agree with her on that point no question about it i do think there is a piece to this though that is has been ignored by her but just in general ignored and that is the bit in big big calling we focus so much on the currency side we focus so much on the idea that because it is going to challenge that banking system or challenge financial systems or be a store of value but the bit gets ignored and i think there is something else you're and this goes back to what we were just talking about that there is a real innovation that is taking place right now far beyond just the issue of currency and store of value to absolutely disrupting technology and technological marketplaces that is happening right now in association with the bit and really in that the centralized crypto space they are there is so much power there even even the idea of computational power coming from because it is a very powerful idea so that may be a bit in the future but i think that is the big threat in silicon valley and they know it because they are to give you a chance to respond and i'd say how do you see it going i mean where do you see it being a threat all around. it's going to be huge but because ben says that it's basically the technology behind that coin it's the fact that the decentralized platforms they're going to be the biggest competitors to players like ben mellon like pay pal like square who want to hold all the power because that's what it is becoming and other all point their peer to peer currency yes but they're the centralized if your currency which means that there is no centralized and the like a pay pal that tells you who you can or cannot spend your money to how much you can or cannot withdraw because at the end of the day paper out where then most all of these other centralized asked that they hold your currency and like any other big central bank you don't get to dictate when you can or cannot withdraw your money and so if the situation war to arise where there is some sort of liquidity crunch if paper out got hacked you try to withdraw your pay pal and that's not going to happen and that is a big part that bitcoin and all the other off point that is one of the main reasons why they run telecom valley so much because the decentralized to it and that also extend to the entire d 5 platform that we've been talking about that includes the file lending yield farming all those other assets that thrive on that network great insight as always ben sloan christie i thank you both for your time and analysis. thank you. time now for a quick break but when we come back we're going to sit down with the c.e.o. of the company that is transforming the music rights marketplace and letting things in on the action also as we go to break here are the numbers on the quote. of the. president of the stand here from us and. overall on what i saw. that i know are more troubling than there are rather you know what are the 4 or 4 of them every year that are. only used and that can put a man in then you. can keep an. eye and flew to china for a trifle that it is living. below the world and i was going on the show little subtle. other thing and lot of the. members of the hate when i do it. because it's whole. news or you have them and they are turning in syria this is. a. model for them after a while for mr hague to for jim and then for hope that are fairly in their court. when i. seems wrong. why don't we just don't. let me. get to see how it does they come to advocate and in detroit equals betrayal. when so many find themselves worlds apart we choose to look for common ground. some control for a middle. of the night most of our very hard working people who want to get ahead that have either some some health issues or have some other trick about luck the whole time is paying for a place to live and missing just a month's rent can get you a victim to gunpoint if anything bad happens to any thing that just throws your budget off slightly. better catch up real quick or you're going to have a judgment of possession against you and get addicted to anyone that's homeless is treated like garbage people look at you like a monster or someone bad or you chose to be there most of the time it's not the case see how it is to be in the world's richest country. so you've heard about crowdsourcing and you've heard about nonfederal tokens but how do these technologies apply when it comes to the music industry while the latest trend could just be combining the 2 in a partnership that gives fans exclusive access to their favorite artist so very now the challenge is steve stewart co-founder and c.e.o. of best steve i really appreciate you taking the time to join us today i know your company has been called the stock market of music so how does that work and how is it attracting fans to invest. well the media really call this that it works really simply it's a mobile app on i was surendra you can download the app it's a simple as putting in a credit card you can scroll through our offerings we call i.s.o.'s initial song offerings and fans are able to put in as little as 5 dollars against the royalty income of a particular song so it works really well we've seen interest building a lot recently i think people sort of recognize that music is an un correlated asset class that a lot of bigger players been playing in this poem for a long time you get use it like universal b.m.g. sony they've got millions and millions of songs in their catalog and i think the general public has been building in demand to participate they never had a chance before so really the 1st opportunity let someone come in and participate right alongside the artist in that route he's yeah it's really interesting to think about just how many artists can be a part of this ranging from those who have a massive following to those who may just be starting out i know you talk about those who are more a stablished and how it would be easier for them to crowd source their work but how does this work for those up and coming artists who are still trying to establish a following. so we work for both independent artists and establish order as we have an artist in julian extra one of our 1st people on the platform he had a very small stand base about $3000.00 facebook fans and he was able to take i think 9 or $10000.00 in earnings from royalties on the platform early from his fans because he engaged in really what it's about as engagement he was able to go to those 3000 bands and have them participate to the point where you could quit driving list and actually focus is just a career full time something that he couldn't do before and i think you'd rather have 10000 fans were engaged rhesus a 1000000 fans that you know maybe didn't know who you were didn't really participate in the things you were doing so it's more about engagement but we were both that independent and we drove this yeah that's an excellent point and it is interesting to say we're kind of in the rise of the influencer space right where you want to follow people on instagram and twitter he really relate to you and i guess that is the same when it comes to artist and with the music you listen to you really want to get that connection with the person you're listening to who wrote that song instead of just passively listening to it now when it comes to f t's we know that block chain technology plays a big role and ensuring the exclusive video of products how does it play a role in your business model for artists and for their work. communities are the talk of the town right now i said maybe side phone calls even this morning just discussing this in the industry is just buzzing with it but for us we touch it very lightly reese we lost or have to half years ago we know that it's still a nascent technology. we need to use it as a way of the digital leisure basically it's a transactional platform that allows us to show every sale every participation point is loaded on the blog chain so it's transparent and you can see and it's and mutable i think there's a lot of people that are trying to tokenize everything all the time and that doesn't really work when you're playing with global players like sony universal warner brothers they're only accepting fiar currency this point so we're playing within the realm of now but we're looking for do we know the bludgeon is really going to be were things are when it comes to rights management and the way to participate yeah that's fascinating because you're including the law kane along with crowdsourcing and giving this new platform and so it's likely to get people to at least check it out just to see what's going on and what it's all about now one of the perks you offer is that fans have the ability to earn of royalties on music they invest it but i want to know how does the music streaming industry play into this when royalties may be only a fraction of a penny for song and say spotify. i mean streaming is only a fraction of the royalty cool right you're getting rotis on a global basis from radio play from downloads from visible purchases believe it or not certain markets like japan people are still buying c.d.'s and vinyl also when it's played in a restaurant or bar a club or a public venue those venues are paying a licensing fee to in the us it's ask if a b.m.i. overseas it's different collecting societies in different countries but that is the overall cool who will teach the streaming as it is you're exactly correct is paying very very slow fractions right now i think that's also going to increase as you get more participation with streaming in 2nd there will countries where it doesn't exist right now right we take it for granted here in the us and so in the european countries reach they go you press a button the music comes on but in certain markets like even south korea spotify is just launched there which is a huge market with cheap pop so i think as you see more and more people come into streaming the rates themselves will go up there's been a lot of governmental pushes to get those rates increased so the artists and there's also these other types of streaming into marathi income coming from piero performing rights again like restaurants bars clubs radio movie trailers any other city licensing opportunity says streaming just a piece of that and that's fascinating to see i mean you're in a market where things can't be growing and changing every single day and it's interesting because we've heard about artists talk a lot about lately as importance of owning their own music you know they don't just want to sign off on that contract with the big record label and then not own the rights to it instead they're talking about the importance of ownership for those words that they write do you think that we are seeing a shift away from just signing those contracts with big name labels that could end up redefining the music industry as we know it. 100 percent it's been happening a lot lately but you're going to see a seismic shift in the industry and the ownership is the key right and with a platform like that asked we have a version so the rights are just gone forever but i'm you're seeing even a major label deals now there's typically a 10 year or version of a master right so these rights will revert to the artist over time but as additional forms come up as n.s.t. is getting more popular and there's a way to have that direct artist and connection just something i think in the missing from the music business you've got all these intermediaries in the middle but once you start to remove that and have that direct fan participation where the real passion is there fans are paying $300.00 for tickets $60.00 for t. shirts they're the ones that really are going to bring a retail value to the music rights we haven't seen it yet it started to happen but i think labels and publishers will have to adjust their models to account for this type of direct marketing i mean with social media and distribution platforms being pretty much free to artists creatives they can go direct and if you can engage that fan base you can make more money than you would if you signed to a major label exxon points to consider here steve stewart thank you so much for your time and insight i. appreciate it that's all for now you can catch ben last on demand by downloading the portable t.v. app or apple or android device but they are not family and as always don't forget to question your. one of the worst mass shootings in america was in 27 the tragedy exposed the real last big. control. reveal. really and now it's part of the. american public. that happens. power of. the powerful showed that true. the most contagious contagion we've seen in decades and then you have a mayor who doesn't care. to control group. deep indifference to the people. to take an action. is a money machine huge cash ran by people who don't care about people's lives being lost . for my guy to financial survival this is. a device used by professionals. that's right. more to the. global economy you need to protect yourself and get in for. tactics that can be used to get innocent people to confess to crimes they didn't commit i don't even think people in the us really get that the police are allowed to lie to the person who falsely actually came to believe the lie that they were told about their own behavior once a false confession is taken the case is closed nobody really can tell the difference between a good confession and one that isn't. a british m.p. calls for all men. there on the program reaction. like solve the problems to make me feel safe the very men he might be. going to end up ignored anyway i think you're going to get just such a negative reaction. after a german doctor is investigated for developing administering his own. volunteers there are certain procedures that we know were developing drugs and vaccines those procedures were not easy it was just.
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