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Speaker 1: Where business meets inside of a business hour with Ryan

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Speaker 1: rich on News Talks NB. Good evening, it is seven

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Speaker 1: after six. Coming up, we have on the digital nomad issue,

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Speaker 1: Brad Olsen digging into the numbers for US, the Land

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Speaker 1: Corps sale, Jamie McKay, the CTU mood of the workforce,

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Speaker 1: and we're live in London with Edna Brady before the

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Speaker 1: top of the hour. Right now, US tech stocks have

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Speaker 1: taken a huge hit today. You would have seen this

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Speaker 1: in the news this after the Chinese AI company entered

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Speaker 1: the scene. Deep Seek is its name. It's an app

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Speaker 1: that claims to need fewer and less advanced chips to

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Speaker 1: make work now. US chip maker Nvidia lost six hundred

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Speaker 1: billion US dollars off its market cap in a single day,

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Speaker 1: and the NASDAK lost about three percent on the whole.

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Speaker 1: Scott she Laddy is a US markets analyst. Scott, Hello,

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Speaker 1: good morning our investors. I mean, obviously they're freaking out.

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Speaker 1: Are they right to freak ount?

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Speaker 2: Yeah? I think it deserved a little bit of worry.

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Speaker 2: I mean we were pretty much price of perfection number one,

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Speaker 2: number two is until pre until probably last Monday. We

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Speaker 2: could go today the idea that there was any competition

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Speaker 2: with a probably surprise fee, which it did, but yeah,

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Speaker 2: they need to take heed. I'm not quite sure it's

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Speaker 2: the end of anything. We you know, there's not a

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Speaker 2: lot of folks that are going to pack the truck

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Speaker 2: up and connect with China. We have to take China's

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Speaker 2: word for a lot of it. But there has been

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Speaker 2: some reports that say that this Deep Deep seek is

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Speaker 2: is is the real deal. But they say that they

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Speaker 2: only spent five point six million dollars on it, when

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Speaker 2: we're spending one hundred million dollars in hours. They say

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Speaker 2: they've done it in a short time frame. All of

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Speaker 2: that stuff is still esoteric or you can't really you know,

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Speaker 2: put your finger on it, but it's something that needs

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Speaker 2: to be considered. And uh, you know, the amount of

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Speaker 2: money I think that really was getting people worried was,

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Speaker 2: uh the economics found of all these companies that are

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Speaker 2: getting involved with they I is that going to change

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Speaker 2: because they don't have to spend as much. I mean,

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Speaker 2: they're still going to sell a lot and video is

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Speaker 2: going to sell a lot of chips, but maybe just

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Speaker 2: maybe the price if I'm.

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Speaker 1: Changed today, hugely significant time for this to be going

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Speaker 1: down as well, because you've got Meta and Microsoft and

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Speaker 1: all that coming out with their they're called a forcern

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Speaker 1: right this week. So so will this potentially affect their calculations?

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Speaker 1: Will it affect how they spend their money?

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Speaker 2: It depends on how how how you know, how seriously,

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Speaker 2: how seriously investors take it. I mean, I think they

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Speaker 2: should take heed. About how how much heed they take

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Speaker 2: that's going to be the real debate. I mean, I

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Speaker 2: just don't see a ton of people backing up and

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Speaker 2: connecting with a Chinese product, especially now that we've got

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Speaker 2: this TikTok debate in this country for a year or two.

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Speaker 2: But I also do know that the we've had some

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Speaker 2: people here look at look at what they put out,

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Speaker 2: and it's the real deal. So so, however long it's

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Speaker 2: too going to make it in forever, how much it

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Speaker 2: took them to spend to make it could be up

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Speaker 2: for debate. But there is composition out there. So you know,

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Speaker 2: today and Video had the I think a seventeen percent decline,

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Speaker 2: which was the largest one data climb in the history

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Speaker 2: of our stock market. It was a six hundred billion

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Speaker 2: dollar market cap selloff. Okay, that's that's pretty significant. However,

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Speaker 2: if you look at the top ten and video owns

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Speaker 2: seven of the biggest selloffs, So we're in an environment

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Speaker 2: where things are pretty pretty valuable. Again, I think we

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Speaker 2: were priced to perfection two years ago and video was

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Speaker 2: up two hundred and thirty nine percent. Last year was

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Speaker 2: up one hundred and seventy one percent. So we shall see.

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Speaker 2: I mean, it's it's been a pretty heavy climb. It's

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Speaker 2: just probably, I think probably is this. It needs to

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Speaker 2: be taken seriously. But you don't need to throw the

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Speaker 2: baby out with the bath water. I still think there's

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Speaker 2: there's a ton of growth to be had there. But

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Speaker 2: maybe everybody get a little bit of a wake up

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Speaker 2: call so they say, you know that there might be

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Speaker 2: some competition.

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Speaker 1: Donald Trump's come out and said basically this is a

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Speaker 1: good thing. I mean, and American companies should be looking

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Speaker 1: at this top of innovation and trying to emulate it.

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Speaker 2: Well, I mean, there's nothing almost saying that. And I

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Speaker 2: think that, like I said about you know, TikTok and

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Speaker 2: the Chinese, there's a lot of skepticism in this country

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Speaker 2: about the Chinese and technology, and rightfully so, I mean

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Speaker 2: for years and years and years, this is what he's

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Speaker 2: been elected to do, by the way, because they've been

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Speaker 2: taking a lot of our intellectual property rights to the

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Speaker 2: tune of at least five hundred million dollars a year,

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Speaker 2: maybe a lot more. So there's still a lot of

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Speaker 2: skepticism there, but it does remind everybody that it wasn't

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Speaker 2: a straight shot to the moon. You know. These companies

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Speaker 2: don't these stock rights don't grow to the sky, and

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Speaker 2: I think that was a much needed sell up and

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Speaker 2: maybe there should be some more. We are going to

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Speaker 2: have a tech revolution, we are going to have an

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Speaker 2: artificial intelligence revolution, but maybe it's just not going to

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Speaker 2: be as expensive as everybody thought, and maybe that means

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Speaker 2: there's a lot more people that come to that party.

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Speaker 1: Well, that does sound like a good thing. Scott, Thank

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Speaker 1: you for that, Scott Slady. He's a US markets analyst.

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