A bit like rotten eggs which is sort of a sense of that chemical still lingering in the air and i was speaking to some of the residents who live just across the river the coal still lingering in the air and i was speaking to some of the residents who live just across the river from where the factory was and they were telling me not just about the Immediate Health come where the factory was and they were telling me not just about the Immediate Health that they had but also concerns about what Health Issues that they had but also concerns about what Health Issues could develop in the future this is what they told me. You can do could develop in the future this is what they told me. You can talk to any foreign men but when you have any type of contact with the smoke its a dangerous to talk to any foreign men when you have any type of contact with the smoke its a dangerous game believe it or because of the camera man excited and in this case when the smoke went into the sky. I can believe it all because of the camera man excited and in this case when the smoke went into the sky we didnt know what was in it was we dont know exactly what is in the year and when i realized i didnt know what was in it we dont know exactly what is in the year and when i realized it in the future it might bring cancer or something else. I had it in the future it might bring cancer or something now so. I have 4 kids and they were impacted by the smell and migraines i thought about having tests done before kids and they were impacted by the smell and migraines i thought about having tests done but for was with absolutely no information about what we should be looking for that visit for was with absolutely no information about what we should be looking for that visit came as a new poll shows that 2 thirds of french people who receive it came as a new poll shows that 2 thirds of french people who responded to the poll think that corn is a bad president and that polled bonded to the poll think that corn is a bad president and that poll comes hoff way through his term as president of france and it seems that no matter what he does he just cant shake the tag of being a bad president hoff way through his term as president of france and it seems that no matter what he does he just cant shake the tag of being a bad president or the president of the rich. Thanks staying with us was on a look at the when you rather today thought the president of the rich. Think staying with us was on a lock with being a rather today to half an hour. In half an hour. Max kaiser this is the kaiser report the show. Max kaiser this is the kaiser report to show you love i know you do yes stacie yes its important to what you love i know you do yes stacy yes its important to watch just say oh and were going to show you some headlines why its so important to watch us because i just say oh and were going to show you some headlines why its so important to watch us because if you watch the mainstream news if you listen to the corporate propaganda you might be on the wrong if you watch the mainstream news if you listen to the corporate propaganda you might be on the wrong side of many trades now max kaiser you were involved in the dot com bubble backside of many trades now max kaiser you were involved in the dot com bubble back in the ninetys and what happened during the dot com bubble a lot of people lost a lot of well in the ninetys and what happened during the dot com bubble a lot of people lost a lot of wealth 5 trillion and wealth right and it was the shoeshine boy the classic 5 trillion and wealth right and it was the shoeshine boy the classic shoeshine boy moment well today as we see the likes of we work collapse white moment well today as we see the likes of we work collapse and we see down big time we see lift down big time and peloton and all that we see are down big time we see lift down big time and peloton and all these other socalled Software Companies right well those are being hit but its call these other socalled Software Companies right well those are being hit but its call. Called the not com bubble is popping the unicorn massacre called the not com bubble is pumping the unicorn massacre unfolding today is exactly the opposite of what happened in 2000 her unfolding today is exactly the opposite of what happened in 2000 it is easy to look at todays crop of sinking i. P. O. s like a lift in peloton or scuttled it is easy to look at todays crop of sinking i. P. O. s like a lift in peloton or scuttled Public Offerings like we work and see an eerie resemblance to the dot com bubble that pop to Public Offerings like we work and see an eerie resemblance to the dot com bubble that popped in 2000 both then and now Consumer Tech companies spent lavishly on advertising in 2000 both then and now Consumer Tech companies spent lavishly on advertising and struggle to find a path to profit both then and now companies that bragged about their ability to change struggle to find a path to profit both then and now companies that bragged about their ability to change the world it is suddenly that they were actually running out of money both then and now the valuations of once change the world admitted suddenly that they were actually running out of money both then and now the valuations of once heralded Tech Enterprises were haves in matters of weeks both then and now that heralded Tech Enterprises were haves in matters of weeks both then and now there were widespread sense of euphoria curling into soberness washed down with the realisation that 1000 were widespread sense of euphoria curling into soberness wash down with the realisation that thousands of workers and once promising firms were poised to lose their jobs and workers and once promising firms were poised to lose their jobs thats right we are having another turn of the cycle a lot of it us to do with thats right we are having another turn of the cycle a lot of it us to do with the fact that so much money was raised in the Venture Capital markets to avoid going public and having the fact that so much money was raised in the Venture Capital market so to avoid going public and having. Dot com replay a lot of these Companies Raise a lot of money dot com replay a lot of these Companies Raise a lot of money in the Venture Capital want to before it ever reached the Public Market so in the case away work they in the Venture Capital want to before it ever reached the Public Market so in the case away work they achieved Something Like a 48000000000. 00 valuation before even going public and achieve Something Like a 48000000000. 00 valuation before even going public and during that time this is whats remarkable to me during the dot com bubble there was and during that time this is whats remarkable to me during the dot com bubble there was a lot of problems with c. E. O. s and insiders dumping stock lot of problems with c. E. O. s and insiders dumping stock right after the i. P. O. There should be a lockup period to force people right after the i. P. O. There should be a lockup period to force people keep people to stay on for at least 6 months or a year to make sure this thing people to stay on for at least 6 months or a year to make sure this thing gets out of the gate it without too many problems here in this era of the we were its out of the gate it without too many problems here in this era of the we work being a primary example the founder an insider was able to dump work being a primary example the founder insider was able to dump almost a 1000000000. 00 before the i. P. O. To you this is almost a 1000000000. 00 before the i. P. O. To the sophisticated money not to the dumb money he had he was dumping it on more if the kid had money not to the dumb money he had he was dumping it on multibillionaires the Venture Capital community which had grown up on multibillion eris the Venture Capital community which had grown up on. In this in the last 1015 years on this unicorn mentality that they were but is this in the last 1015 years on this unicorn mentality that they were but is similar that they were all so feeding on the same delusion and they had. That they were all so feeding on the same delusion and they had profits early on in a couple of big big winners that they were resigned or profits early on in the couple of big big winners that they were recycling so you recycling kind of the house money as it goes in by killing so youre recycling kind of the house money as it goes in the valuations keep going higher and higher but defectively the same but theyre not publicly wishes keep going higher and higher but theyre defectively the same but theyre not publicly traded but it will the question is will it have a contagion effect will the spillover train it but it will the question is will it have a contagion effect will the spillover into a wider stock market phenomena and therefore a wider economic phenomena it is having them into a wider stock market phenomena and therefore a wider economic phenomena it is having the impact in Silicon Valley that house prices are falling rapidly because a lot of people who are hoping packed in Silicon Valley that house prices are falling rapidly because a lot of people were hoping to you know buy properties that they could afford if their we work shares were something to you know buy properties that they could afford if their we work shares were worth something so now there is this guy whos calling it the not com so now there is this guy whos calling it the not com bubble not the dot com bubble because in fact a lot of these companies are not the dot com bubble because in fact a lot of these companies are just masquerading as Tech Companies theyre not actually Tech Companies we just masquerading as Tech Companies theyre not actually Tech Companies we. Work is not a tech company its the same Old Fashioned commercial really work its not a tech company its the same Old Fashioned commercial Real Estate Lending and leasing sort of thing thats been going on as a boring estate lending and leasing sort of thing thats been going on as a boring industry thats been around for hundreds of years and its the same industry but its just been was brain destry thats been around for hundreds of years and its the same industry but its just been was branded as some sort of high Tech Software company where you can get big multiples so rand it is some sort of high Tech Software company where you can get big multiples so why is calling and not com is because the ordinary investor is way smarter right why is calling and not com is because the ordinary investor is way smarter right now than the v. C. Funds because when the web browser netscape went public now than the v. C. Funds because when the web browser netscape went public aug 9th 1905 the day many cite as the beginning of the dot com bubble august 9th 1905 the day many cite as the beginning of the dot com bubble its stock skyrocketed from 28. 00 to 75. 00 in a matter of hours even stocks skyrocketed from 28 1. 00 to 75. 00 in a matter of hours even though the company was not profitable and todays market the opposite is happening unicorns though the company was not profitable and todays market the opposite is happening unicorns with no positive earnings are getting slaughtered at the gates we were expel you ation fell more than no positive earnings are getting slaughtered at the gates we were expel you ation fell more than 80 percent pre i. P. O. When investors balked at its mounting losses 80 percent pre i. P. O. When investors balked at its mounting losses peloton lifton guber have also struggled to persuade Public Markets to grade them on a curve also lift and hooper have also struggled to persuade Public Markets to grade them on a curve also. Their stock prices fall on the day of the Public Offering institutions and Retail Investors are refile their stock prices fall on the day of the Public Offering institutions and Retail Investors are refusing to fork over to unicorns the valuations that private investors were experiencing to fork over to unicorns the valuations that private investors were expecting particularly soft bank a major backer of a lift and we work acting particularly soft bank a major backer of lift and we work this isnt a picture of mass media its a picture of public so brian this isnt a picture of mass media its a picture of public so brian where the masses are diagnosing an acute fever in private markets bring where the masses are diagnosing an acute fever in private markets bring that back to the Opening Statement where i said this because you watch kaiser report weve been covering this weve seen that back to the Opening Statement where i said this because you watch kaiser report weve been covering this weve been i remember misfire science showing charts and saying when we were still in london 3 or 4 years and then i remember misfire science showing charts and saying when we were still in london 3 or 4 years ago saying that lifton these companies were not worth that that they were a ponzi scheme saying that lift and these companies were not worth that that they were a ponzi schemes and that one day they would try to dump it on the Public Markets so i think this is games and that one day they were trying to dump it on the Public Markets so i think this is also part of that censorship d. Platforming sort of thing that we see is like also part of that censorship d. Platforming sort of thing that we see is like the the Corporate Media doesnt have control over the dummies you know the dumb money the the the Corporate Media doesnt have control over the dummies you know the dumb money that used to be called the dumb money the average ordinary investor out there that is used to used to be called the dumb money the average ordinary investor out there that is used. Dump that private investor money onto the dot com phenomenon if youre going back to that era you know it was Technology Software problem dump that private investor money onto the dot com phenomenon if youre going back to that era you know it was Technology Software problem Technology Driven where the pitch would be were going to do Technology Driven where you the pitch would be were going to do publishing on the internet you know in that magazines and newspapers will be publishing on the internet you know in that magazines and newspapers will become redundant people will get their news on the internet at the time nobody believed that come redundant people will get their news on the internet at the time nobody believed that an email at that time a member of hollywood at the time i was working in email at that time a member of hollywood at the time i was working and it was if you had an email address it was considered a class a it was conceived you were kissing and it was if you had an email address it was considered a class a because that you were considered a nerd nobody with respectable would have an email address you know the there to nerd nobody with respectable would have an email address you know the that thats how until the blair witch project and than everything changed in hollywood because of the internet but it thats how until the blair witch project and than everything changed in hollywood because of the internet but here the story of the not com v. C. Driven here the story of the not com v. C. Driven unicorn craziness is even more bizarre in that unicorn craziness is even more bizarre in that its Companies Like we work the pitch was there going to Companies Like we work the pitch was there going to. Own the Global Real Estate market so the founder was saying that the goal on own the Global Real Estate market so the founder was saying that the Global Real Estate market is 5 trillion dollars or 10 trillion dollars obo Real Estate Market is 5 trillion dollars or 10 trillion dollars and that we could own it and that pets raised tens of billions of dollars and that we could own it and that pets raised tens of billions of dollars that would be like saying im going to im going to start farming and you know theres that would be like saying im going to im going to start farming you know kumquats on the dark side of the moon because its its just all kumquats on the dark side of the moon because its its just im the the center of the story that encourages people to take these risks then to the center of the story that encourages people to take these risks in this era that were just coming through has become even less and less supposed to in this era that were just coming through has become ev