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tv   Fast Money  CNBC  May 11, 2017 5:00pm-6:01pm EDT

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bid, of course, we can say, we deserve to be independent. >> one thing to deflect it. it's another to say -- >> personalized and kraft warren, disingenuous as well. >> you can catch the full report on "mad money" at 6:00 p.m. eastern. "fast money" begins right now. ♪ live in the strip in beautiful las vegas, nevada, the encore hotel, a special fast.starts right now! and -- "fast money" starts right now! we are moments awhat from a rare and exclusive interview with ceo steve wynn, mark cuban will be here with the legend, himself, wayne newton and perhaps it's a surprise or two. trust me. you don't want to miss a second of this show. welcome to it. i'm mellissa lee. we are at the credit suisse
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company, in this room could be the next hot ipo. "fast money" trader dan nathan, guy adami made the trip to be out here. they survived last night. we won't ask what happened. we'll see if they can get through this next hour. snap just crapped out, we're in vegas, crapped out, was this a reality check? dan, let's kick it off with you. >> one of the questions you keep hearing in a conference like this, where there is a lot of companies doing disruptive things is whether or not they need to go public. there is a lot of access to capital, both equity and debt. they can finance a lot of their growth, don't forget, look back to facebook, one of the things facebook did in the leadup to 2012, they spent a billion dollars to buy instagram, that was before they went ipo. then what do they do in 2013? they spent more than $20 billion to buy what's app. they needed to do that to raise the capital in the public markets to be able to finance
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this next leg of growth. here's a company that's valued over $400 billion right now. i think it's safe to say that instagram and what's app are a big part of that valuation. so going public is something they need to do evaent wally. >> you have to weigh that against what being public means to you and you see it manifest itself, it was a terrible quarter. obviously, 20% speaks to that. what i was most unimpressed by was the tone that the ceo took on the conference call yesterday. here's the first conference calm, disastrous quarter and the level of i'll use the word huberus was interesting to me. to discount facebook in the world we currently live in to me is probably not the best tact to take. >> there are things he said yahoo has a search box doesn't mean it's google. >> that and a lot of people apparently who like to look like dogs. with a backdrop of being down to
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your ipo price practically in the after-market session, i don't know few say things like that. >> it's funny, i'm a bit of a contrarian. it's not like the sentiment was really high for this ipo snap. i think it's important to remember i don't think the messaging has changed a whole heck of a lot in the last three months. when this company was on an ipo road show, they didn't get a path to profitability. >> we have a news alert out of walk. john. >> mellissa, we have a new nbc news survey monkey poll, which measures the impact of the cease-fire e firestorm we have been living through since president trump fired director comey. we asked americans, was it appropriate for president trump to make that firing. 38% said yes. 54%, a majority say no and by very similar numbers, americans say they have less confidence in the wake of this firing that the fbi will be able conduct its russia probe in a fair manner. when we asked, was the russia
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probe the reason for the firing? this is a key element in terms of whether president trump was trying to stop an investigation of him, 46% pleurality say yes it was, 24% say no, it was over the hillary clinton e-mail investigation, which president trump's white house has cited. but then finally, americans do not share the view of president trump that this probe is fake news. 54% majority say it's a serious issue and today the facting fbi director andrew mccape said it is both serious and it will go on unimpeded, guys. >> all right. thank you very much, john harwood in d.c. so what does this change for the markets? >> well, perception is a reality. if people think it is an important deal. it is an important deal. i think it makes trump's agenda, it pushes it back. it will not be as quick as they would like. i think the market has to ask a question, are we going to get the tax reform the regulation
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reform the health care reform that we thought we'd get in 2017? does that make it push down to 2018? >> we have been talking about the trump agenda, marks take a hit, there could be news out of wells fargo, they will have more costs, et cetera, i'm wondering the pain the perception the agenda is off track? >> i think they really under performed the broad market. obviously, they were a big part of the gains after the november elections, since then, they have not participated. industrial stocks under performed the market. those were supposed to benefit. i think guy is 100% right, if you push out this pro growth agenda, we get close to these mid-terms, washington is in full blown scandal, you will lose the house, you really do have a president who is not going to be able to deliver on any of the promise, therefore, we get back to gridlock, the markets have priced from a lot of this, unfortunately to the upside it go es the other way.
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>> on the other side, tech has done great with the trump trades goth not doing well. is that what you stick with, what is working? >> i think so, obviously, we can get a conversation about amazon, netflix, what have you the balance sheets are seemingly impervious, they win to what is going on in the world. >> that is the growth area. >> with the backdrop of facebook, google, all these guys look so much better. >> i think the other way, when you think of the top five technology companies, five biggest companies not only in the u.s., in the world, what were they doing? they were outperforming in the leadup too the election, it was almost like a safety trade. these are companies that did not need a pro growth agenda. they are dominating the field, disrupting a lot of industries. to me, i think it's a defensive posture. when you look at apple, amazon, up:30%, we're may 12th or 11th, that's pretty insane. to me it feels like a blowout top, a safety trade, it's very crowded. it makes me very nervous.
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>> at the same time if forced to choose, you want do put money in the markets, you have to for whatever reason, would you choose that as opposed to other stocks out there? afternoon with the evaluations crazy? >> the most interesting technology to me, given everything that dan mentioned is biotechnology, i think it's under the radar screen. i think valuations are reasonable. i think people are still concerned the hammer is going to drop in the form of political rhetoric. i'm not certain that will happen. >> what did jeff dunlap say monday? he said, look at emerging markets, not only that, with that election if france over the last week, that actually makes the case for a valuation argument for europe, maybe this populist tie has a place to be. >> coming up two, words, big win, actually, steve wynn, steve wynn, he is here, he is here hours after this, he ain't the only billionaire we got on the show, we got mark cuban as well. he bought twitter stock and snap
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we will ask him, mr. us the great wayne newton will be here, his presence may sway guy adami to do something you have never done before. we are live here under the city lights in las vegas, much more "fast money" straight ahead. 6 ♪ of 100top companies.s the power of a proven 15-year track record. the power of an etf. the power of qqq. the thinking we put in, clients get out. power your client's portfolio at before investing, consider the fund's investment objectives, risks, charges and expenses. call 800-983-0903 for the prospectus containing this information. read it carefully. distributed by invesco distributors inc. containing this information. read it carefully. realize the smartest investing idea, isn't just what you invest in, but who you invest with. ♪ at crowne plaza we know business travel isn't just business.
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>> welcome back to "fast money". we are live at the encore las vegas, there are visionaries and there are icons and our next guest is both. steve wynn is perhaps the brightest star in the city of lights and the man most responsible for building modern day las vegas from the mirage to the blaj bellagio, he transformed las vegas from a gambling town to an international business and tourist mecca and in the process became a self-made billionaire and in the process, frank senate tra might say he did it his way. steve wynn is the king of las vegas. she with us now. >> with tra introduction, there is one thing left to do, die. go die somewhere. but i'm glad to be on cnbc.
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i think of this great channel as sort of rehab for abc and msnbc. >> from what way? they're so liberal on the other side. this is sort of rehab for them. >> we talk about the markets, just the markets. >> that's right, rehab. >> so speaking of the market, speaking of business. how is business here in las vegas? >> excellent, actually. las vegas is enjoying some very, very ro bust business both in the regular travel and tourist industry as well as conventions and that's always been a big thing here and that has roared back and we're still enjoying, as this city always has, an enormous amount of international business both from latin america, europe and especially from asia. >> one analyst has noted about your conference call for the last earnings report that the tone on the call was about las vegas, was as bullish as ever,
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would you say that business is back, that business is better tan ever before? how would you characterize las vegas today compared to past years? >> it's a great question. and the answer has to do with the fact that this city, it remarkably for past 80 or 90 years, has managed to reinvent itself and morph into whatever it is the public really wanted, generation after generation. and the agility of this place to adjust itself to the young people, to the convention business, the menu that's being offered here is -- and i'm not just talking about the wynn properties, i'm talking about the whole street. you don't go from a 299, 3.99 breakfast to one of the fansiest gourmet meals in the world. you can get entertainment for 25 or $35 or there are 40 and pay $500 for the best performance of
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a concert. in this building for example, cane smokers and our nightclubs. we have two or three of them. on the other hand, so is tony bennett or diana ross or a j.c. fogerty. whether it's entertainment, shopping, i mean, i think if you take a look at the strip, starting with our hotel and movering all the way down the sidewalk, every major designer and retail boutique or offering is here. every major chefs and restaurant is in this town. when i came as a young man, when i was 25 years old and came here in '68, i never could have imagined that las vegas would become what it has and it's unlikely in the next 20 years that any city in the world will ever compete with las vegas in terms of the multiplicity, the depth of the offering. >> i want to ask you in terms of the tone in this town, have things been different since president trump has been elected? and i have a couple interesting
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fact in the first quarter earnings report, the convention business the trends are very solid through 2019. the average daily rate at a wynn property in the first quarter was $13r50e7b, which is t315 in is there a greater optimistic among business, among tourists? >> the answer is absolutely yes, to give you a short answer, absolutely, yes. there was a pallor, a sense of we don't know what's next and it's not going to be good during the obama years. and i -- although i have been a democrat and republican in my time and supported candidates from both parties if they were honest and doing a good job, i was grateful to support them. the obama administration, whether it was our health care for our employees, everything got screwed up. i was a vocal critic of everything that barack obama and
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his people did. they did it poorly. either it was a bad idea or if it was less than awful, it was still poorly executed. it sound very harsh. and my attitude and the facts, if you look at the obama years are harsh. they tried to clean up the data, but the fact of the matter is, every businessman in america was scared to death. it retarded really robust creation. >> that sense of optimism among people, not just businessmen, but my customers who are people who are able to afford the better things in life much more positive. >> right. >> and we felt it. it was -- it happened right away in november. >> really? a heck of a switch? >> pretty much. you know, in december, we noticed the change. >> what happens if parts of the agenda are not completed?
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what happens if he can heck reform isn't passed? what happens if tax reform isn't actually passed? are you concerned that that optimism goes away or diminishes? >> well, let's put it this way, if my employees and the american public are left with the affordable care act, that's not going to be very good for anybody and there will be continued angst about it. as far as the agenda, it takes, in business, it takes us a while to do something. if i'm going to build a hotel. i first borrow a pile of money. i put up investment money, whether it's equity or debt. and then there is a period before the project begins to bloom and bear fruit and that is make money. there is a two or three year period where we have to build it in four years at some point from beginning to end. in other words, investments take a while to mature. >> sure. >> i think that the reforms that
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this administration, both in the house the senate and the white house, are proposing are basically solid. remove the stranglehold of overregulation. have an intelligent tax policy. have a user-friendly patient-centric health care system. those things no one argues with. the question is, can they be done in six months or 100 days. in practical terms, it's a ridiculous expectation. >> sure. >> for some reason in politics we have these goofy notions about instantaneousness. and another thing, most of the people you interview on this show are businessmen. every single day of our lives as parents or business people, we make adjustments and we adjust the current situation step by step to set a goal. >> that is to stay we compromise with the realities of the moment but we keep moving towards the
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goal. only in politdoes compromise bea bad word. >> it's a weakness. >> and public awareness and publicic e expectation in this 34 character world that we live in has been twisted and distorted. people should not ever expect anybody to do something spectacular in 100 days, it's foolish. >> so it sound like you think the agenda could be enacted and accomplished. have you been planting any more seeds? have you been going out borrowing more piles of money believeing the trump administration is going to bring about this environment that will be very conducive to your business? >> we're the largest private investment in the history of the commonwealth of massachusetts and $2.4 billion with our destination resort hotel in the metropolitan area of boston. we're going to be the second largest employer in the commonwealth of massachusetts behind mass general hospital.
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you bet we're building and expanding. we're going to start in january the whole new development of the lagoon and our stuff behind this hotel. now, i'm not here to do a commercial about wynn resorts. >> is the expectation greater because president trump was elected for you? >> the pace of investment is much more secure. we work at a certain pace because we are very meticulous about planning. i can't say the pace itself, but my optimism and my confident to proceed, remember, i'm a job creator, maybe a quarter of a million so far in this city in jobs that we've created. i'm a job creator. obama scared me, the hell out of me. trump makes me feel more comfortable. not that he is going to wave his hand and change the world overnight. but i know that basically, the craziness of the ridiculous left wing stuff that we we heard during obama time has been
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tamped down and we have insurance experience in some cases but more sober leadership in the congress and the senate. >> stick around, we will get much more with you in just a moment right after this quick break. i'm melissa lee. you are watching "fast money" live from las vegas, from cnbc, first in business world wide. stay tuned. (microphone feedback) listen up, heart disease. you too, unnecessary er visits. and hey, unmanaged depression, don't get too comfortable. we're talking to you, cost inefficiencies and data without insights. and fragmented care- stop getting in the way of patient recovery and pay attention. every single one of you is on our list.
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>> welcome back do a special edition of "fast money". coming to you live from the king of las vegas, himself, steve wynn, besides being the king of vegas, he is also the emperor of the another king dom, that being macaw, many wip. bet big on the chinese gaming capital. let's start there. >> king and emmoror. it has a night ring to it. >> you can use it any time. we give you permission. when it comes to macaw in your last earnings report, to the effect of the anti-corruption rules have been in place for a while and people are comfortable with them now and it almost sounds like you are saying corruption is back. we were sort of joking it sounded that way.
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what are you seeing right now? >> the point i made and i think that it's not a radical point excuse me, i'm getting overa cold. the campaign against corruption was probably the right thing at the right time for president xi to do. but it was unsettling because it changed a lot of things that people around mainland china were used to. and having, having had this sense of standards being upheld in the public sector, now has become more comfortable for the people and everybody sort of settled in to the few rules of the way they want business to be conducted and i think it's caused everybody to relax a little bit. you know, the most important thing in life, whether it's our private lives or business or consistency, things got inconsistent when changes came about during the, this campaign,
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but now those rules have settled in, i believe people have learned the live with that new reality. that's probably the best thing that could have happened to the prc at that point. i know that president xi's polls and studies showed when he start -- when he came into office that of the vast majority of the public believe that there was rampant misconduct and corruption in the government of these provinces and the president decided he was going to change that and he did. >> you mentioned consistency when it comes to doing business. it seems like, though the chinese government keeps throwing sort of curve balls when it comes to the rules. recently, they enacted another rule on atm, the use annual of the atms requiring people to show i.d.s when they pull out a certain amount of money. this comes on the back of them slashing the amount of capital you can pull out of an atm at one time. have you seen any impact from
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these new rules? >> look, the central government or the people's republic of china have had currency controls and rules about that from long before i got there in 2001, 16 years ago. the fact that they're tightening up to see that those rules are enforced should come as no surprise to anyone. with technology and other methodologies, they have a way of enforce wag has always been the case. have we noticed it? no, our business is doing fine but we've had the luxury of dealing to a more high end type of clientele. >> right. >> they tend to be insulated from that, for a whole bunch of reasons. they have accounts in hong kong, they're an exporting business. they have currency sources from their international trade that perhaps another group, another part of the chinese demography
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doesn't have. >> any concern about the supply that's coming on to macaw? there are going to be two new properties from mgm and sjm in the strip in the fourth quarter 2017? >> mel lisa, i'm panting to get mgm and xjm which surround us on both sides opened. because they form a bare al qaeda. when sjm and mgm opened on our south and our west side, we become the center of an exchange of humanity. >> traffic is up? >> which is responsible for our success downtown in the original place. because we're in the same position. i can't wait for mgm and sjm to open. if i can get out and help the construction i would. >> mr. wayne, two years, casino stocks were getting bludgeoned. you stepped in, you put your money where your mouth is. your stock more than doubled since then. which question here is this,
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should more ceos who feel their companies are under valued put their money where their mouths are? >> the answer, the quick answer to that is yes. i think the best companies are the ones where the management represents a large part of ownership. when i work for the shareholders primarily because i'm the largest one and that's a healthy thing for other shareholders to know. i'm not living for my salary, although i'm well paid and appreciated. i'm living for the value of that investment. and i know that yoorg i was a customer of milkin and drexel burnham, my philosophy was that of a human capital, love companies where the management had a large stake in ownership. because if something went wrong, they suffered and something was well done, they benefitted. so i'm along side my
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shareholders when i think how to manage this company, period. >> mr. wynn, you mentioned back, it wasn't an obviously bet back then, so over the last 15 years or so you get the disproportionate amount. you participated in this amazing growth out there. so now you are more leveraged than the cat. how do you feel based on the stuff from the u.s. economy, will you be investing more? you mentioned paradise. this will be a massive, massive opportunity here, will you solicit the balance a little bit? 50-50 macaw-u.s.? >> definitely there are two factors that affect that answer. number one, we have property on both sides of wynn palace. 7 acres is enough for additional rooms and fawn gaming expansion. i can't wait to do it. but i'm constrained be i the schedule imposed by the government on when they announce what the particulars will be of the treatment of the concession e sessiconcessions
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when ours, we come to it, a decision point in 2022. the chief executive of the set of macaw has the unilateral power of extending the concession another five years or the legislature, itself, beyond that, can do all kind of things. i know that those of us who are there are dying to increase our non-gaming capacity. remembering that here i told this story a hundred times the secret of las vegas is the fawn gaming attractions. bacarat table and roulette table mean nothing. share the the same everywhere on earth. what produces long-term power in china is the non-gameing development that has to continue and we have to know about the concessions. so in the meantime, we've got 130 acres that are unique right spark in the middle of las vegas. it has always been my number one
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latent asset. but i was distracted be i the extreme acceleration of china. who wouldn't have been? >> right. >> macaw was such a boom commercially, probably the greatest gift ever given to a company. well, now, now that these conditions exist in macaw, where we are forced to wait on the government's decision but anxious to proceed, i have exactly the opportunity to tee it up and go for it in the back yard here and take advantage of what i think is permanent prosperity and world class destination status for this city. plus, of course, we are going to get down to business. we're eight months into a 34-month contract in the boston metropolitan area. so we're opened two years from now. we have plenty to keep us busy and they are having a lot of fun doing it, too.
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>> you sound optimistic about ma called and las vegas. can you characterize how you feel about business today versus ten years ago. is this the best time for wynn, the company? >> i measure. i take that question, melissa, the only way i can, you know, at the moment, things look pretty nice. but, of course, if we take more global view, i'm going to washington on monday to the center for strategic international studies on behalf of my company and look at the condition world wide and in asia on larger questions, north korea. the role of the united states with regard to europe and asia and latin america. these factors as an international destination hotel both here and in asia, i'm very concerned about all the things that affect tourism. >> so trump you said before is
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very beneficial to you here in the united states, at least sentiment by businesses as well as tourists. how do you feel about him and the relationships he's had so far with the likes of carolina and other places where you do, do business. 2022 is around the corner. are you concerned there will be a misstep between president trump or president xi that can de rail 2022 for you? >> well, i had the advantage the privilege, of being in the white house two weeks ago and discussed this matter with president trump. >> what did he say about that? >> we have been friends for 22 years. how'd you get along with xi xin ping and the president was keling me and related to me over a period of an hour or so, the details of his good time and the very positive reaction that xi xin ping had to him. this is a great guy, we got along terrifically. i don't mean to share, take your time up with the details of these conversations, but melania
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and mrs. xi got along right, terrifically, donald felt, the president, i got to stop saying that, president trump got along great with xi jinping. day are both very charismatic. >> 2022 and the license? >> trump is no loser. his long suit is one-on-one contact with people. he is a charmer, as you snow. and his problems are not his ability to get along with people, he knows how to do that. apparently it's working well with him and other world leaders that he's met. i think americans benefit from that particular aspect of donald j. trump's personality. he is guy that does well up close and personal. for example, a trait which obama didn't have with the u.s. senate and the house. he was isolated. and seemed to be removed. everybody says it.
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you have we heard it from a thousand people. and world leaders, leaders felt the same way. >> right. >> trump will produce the opposite effect, which i think will work to our benefit. time will them. i'm sorry the rest of that question. >> no, you answered it. >> masterfully. >> thank you, mr. wynn, for having us here. thank you for joining us on "fast money". we really appreciate it. >> nice to have you here, melissa. you are welcome. >> steve wynn isn't the only billionaire we have lined up for you, one is not enough, after the break, mark cuban bought recently twitter shares, will he buy shares of snap? he will tell us after this break. stay tuned. ♪ predictable. the comfort in knowing where things are headed. because as we live longer... and markets continue to rise and fall... predictable is one thing you need in retirement to help protect what you've earned and ensure it lasts. introducing brighthouse financial.
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a new company established by metlife to specialize in annuities & life insurance. talk to your advisor about a brighter financial future. realize the smartest investing idea, isn't just what you invest in, but who you invest with. ♪ to be a nightmare! does nobody like the future? c'mon, the future. he obviously doesn't know intel is helping power autonomous cars and the 5g network they connect to. with this, won't happen in the future. thanks, jim. there's some napkins in the glovebox. okay, but why would i need a napkin?
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you could have just told me a bump was coming. we know the future. because we're building it.
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>> welcome back to a very special edition of "fast money". we are in las vegas. now we are joined by investor mark cuban. glad to have you with us in las vegas. we were talking to steve wynn, via wynn resort and the impact president trump has had on business. he says it's been all positive.
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what are you seeing? >> it potentially can be positive, but it's a big bag of nothing so far. i mean, it's all, you know, on the come. i think potentially if he gets his tax plan passed, that's great. because we will have corporate income tacks, i think the bureaucracy and regulation, that's great. if you drain the swamp and get rid of a lot of lobbyists, that's great. none of it's happened. right. you see the result of that uncertainty in the market. >> i think a credit for president trump in the past. >> right. >> have you seen any change when it comes to optimism? every single reedle of optimism we had out indicates optimism is higher than it was before the elect. we see people spending more, going to more games. >> not now nor the mavs, unfortunately. but it's kind of like a sports team, right the beginning of the seasonsh everybody is optimistic, you are undefeated, you got a lot of positive thoughts associated with it. i think at some point you have to deliver. the longer things go without
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delivering on -- and it's not promises, it's more themes than i think it creates a question mark. but on the flipside of that i therety intern apples of the market are good. i think what is coming particularly for larger companies is even better. so i think the market will continue to go up regardless of what he does. >> so you don't think that policy missteps could de rail this market, fair valuation? >> no. >> we're sort of on cruise control? >> i would say cruise control, really, honestly the way i'm looking at it, i have been a big proponent of the impact of artificial intelligence, machine learning. every fortune 50 company is going to be doing more with potentially a third less employees. that's the definition of a great opportunity for those companies. and so few look across the fortune 500 the s&p 500, you know, there are a lot of companies that are going to be able to slash work forces or, you know, remove them somewhere elsewhere they will get greater benefit.
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>> in the beginning, they will not be able to move them somewhere else, when you think about it with this legislative agenda, it kind of flows in together, if ai or a lot of this stuff will be displacing the work force, you do need to get a good health care plan in place. we need to have good tax reform. >> health care is different than the economic side. right. forget it, it's screwed. no matter, there is nothing you can do, i'll tell you exactly why. what business is the health insurance in? it's not in the business of providing health care. it's in the business of managing money to provide their own financial outcome. as long as insurance is in the middle, it's not going to work. what obamacare did that worked, whether you like it or not, is it managed the profit expectations of the health insurance industry. that's what it did. right. it said, here are the de limiters. you can't have a 40% markup. 50%, that's what it tried to accomplish. what the aach is trying to deal
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with, it's a core fundamental issue. insurance companies are going to try to make as much money as they k. nothing they do really has to do with health outcomes and health care. >> sure. let's switch back to the market here, recently on cnbc, you talk bd about your investment in twitter as i mentioned, specifically, twitter's use of ai, they have been using, they have been leveraging, which is apparent in their latest quarter. if you are so into machine earning and ai. is that the only thing you've invested in that trend? >> privately, i've invested in private companies as well. py biggest holdings is amazon. it's the ultimate ai company, it's the ultimate start-up company. it's not because they want to sell groceries in stores t. same way with book stores, it's because they want to know what you need when you need it before you know you need it so they can deliver it to your door in anticipation. they become prescriptive. the opportunity there globally is beyond enormous. >> so you, to mel's point, you follow the markets, disastrous
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quarter out of snapchat, stock is down 20%, does that provide opportunity for someone like you or a no the up? >> as a stock, i'm not sure. but i disagree with most of the assessments of opportunity with snapchat. so, you know, i look at it, i have a 13-year-old daughter, that's on there i'm on there just because i need to communicate with people. and it's a different environment than it is for instagram and facebook. you are fought financial to put. what you put on snapchat is exactly what you will not put on instagram and facebook, because your parents get to see it. right? there's filters. you want it to look nice. there is a pecking order. instagram has a certain type of look you want to have. facebook is different. your grandparents pay be on facebook. snapchat is here's what i am, here's what i'm dock. it's not generational. you can't share. if you are following me on snapchat, what you see is what you get. now they have an affinity so it can live on forever instead of
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climbing down from ten. but you will not share wit grandma or a teacher. if that teacher doesn't follow you, they don't have to see it. i think it's a different market. >> mark, stay right here, we have much more coming up with billionaire mark cuban. "fast money" in las vegas will continue right after this. stay tuned. ♪ go to protect your vehicle?
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uh, it's a girl. congratulations! two of my girls are toms. i work for ally, finances are my thing. you know, i'm gonna go give birth real quick and then we'll talk, ok? nice baby. let's go. here comes tom #5! nothing, stops us from doing right by our customers. ally. do it right. whoo! look out. welcome back to "fast money," we are joined by billion fair investor mark cuban. we were talking about snap and snapchat before the break him were you tempted to buy? >> if it weren't for the lockup, if i lose a dollar to the upside, maybe you'll fully trigger. when i hear the fatalism about instagram and facebook and the impact, i don't see it at all. >> why were you close to buy? was it close to the credits in does that matter to you? >> i think they are getting better to sell more ads. they don't seem to be intrusive.
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i don't see letup in the people that i followed. i tried to follow a different selection of people, whether it's nba or kids that go to school with my daughters, or whatever. and i don't see any dropoff. you know, so i don't see the risk factors that other people are talking about, if they're able to get their act together, i think there is real upside. >> you are on the dallas mavericks, you by definition have a great van tage point, what is going on with espn? does it mean anything to disney or is it blown out of po proportion. >> they're not going up, i think it's on the margin right now, i think where there is a fundamental opportunity. i brought this up with the nba the best way to watch sports is on traditional television. it doesn't buffer, it's the highest resolution. nobody says that. the nba, the nfl, hockey, espn, we don't talk about, hey, if you have time to watch the game, watching on the phone sucks.
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watching on the big screen and sell that upside, you know, that's the disconnect i think we have to solve. >> can it be solved? we have a whole generation of people watching videos on an ipad, it's completely different, isn't it? >> it is completely different because you want when you want it. >> that doesn't mean there is a better opportunity. being in position to watch it in the best possible delivery. if you are getting wireless, interlet in the television is almost a throw away. so sometimes marketing matters and where the downfall of espn and tnt and the nba et cetera, we're not saying watch it on tv, because it's a far better experience and i think we need to go out i like eating seven-11 hotdogs, i like eating good food sometimes. >> you are obviously out of the dot-com bubble, you sold to one of the biggest companies at the time of yahoo, you came out of
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where. this time around, you said amazon is your largest position. we have four stocks, amazon, google. they make up $2 trillion in market cap. doesn't it make you a bit nervous here? so much sentiment. does that make you nervous. >> in terms of stock price? >> yes. >> no, they're all under valued. >> the biggest companies right now they're under valued? >> yes, i sold points on amazon on the calm. they're so under valued. you don't understand however big you think people are, euro networks, it's going to be bigger. you don't understand. i mean, the things that you are able to do in terms of optimi optimization you are able to do. it's incredible. half-my day is machine learning for dummys, production to tens of flow, all this ridiculous stuff i'm having to retrain my brain on because i want to see the business application. >> you think amazon is out in front? >> yes. >> how about apple, google? >> apple, i don't see it yet.
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still the product and buildinging new services, google, yeah, you can see it into the results delivery. >> right. >> netflix, yes, netflix is talking about being able to change how they deliver band width based off opinion learning on the quality of your connection. that's crazy when you think about it. >> so in this conversation, ibm has not come up. ibm's watson has not come up. recently we had them on. he said watson is aic jo. walk it back vlt. it's behind. what is your take on it? you have been reading all crease crazy books. >> you don't see it. right. the difference is watson tried to product size it. they wanted to be the old ibm. you know, fear, uncertainty and doubt if you don't have us, you are out of luck. that's not how ai works, it's all implementation, how you build a newer network, assign the variables and test it and use it to generalize. you have to start developing
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that internal knowledge. that's why you see, i mean, facebook, google, netflix, they're hiring all over the world, trying to dominate it. our biggest threat isn't the market price, it's china. we can't do things with computer vision and facebook recognition. >> they can. >> they can do whatever, right? they get to push ahead further. so they're getting too far ahead of us our biggest risk. >> mark, thank you so much, mark cuban. billionaire investor. all right, we got a lot more coming up. a special appearance by a las vegas legend wayne newton. trust me, you will not want to miss it. dear predictable, there's no other way to say this. it's over. i've found a permanent escape from monotony. together, we are perfectly balanced, our senses awake, our hearts racing as one. i know this is sudden, but they say: if you love something... set it free.
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♪ >> welcome back to fast moichl. we are live in las vegas. our next guest is no stranger to sin city, no trip would be complete without wayne newton u.s. tour up close and personal is on his way. can you see him nightly at bali's, wayne newton joins us right here on "fast money." >> mellissa, you are great. gentleman. >> you are unbelievable. >> wayne, please. >> your schedule, wayne, is unbelievable. in terms of how many times you perform every week. how do you do it? >> well, i actually perform three nights a week here in vegas, whereas it was gathered in the ''80s that i had performed all total up until then somewhere around 50,000 shows. >> 50,000 shows. >> more than us. >> it certainly is. >> it has always been my dream, a quick question, if you could perform with one question right now, who would he or she be? >> i would have to say if i can
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perform with one person in the world, it would be guy. what would you say? >> i never say that. >> i would love to see that. >> so it's always been my dream to perform in las vegas with wayne newton. >> is this truly happening? >> this is going to happen right now. you can ask him a question. i will start it. i want you to come right? >> here we go ♪ i recall central park in fall ♪ ♪ how you -- ♪ tore your dress, what a mess ♪ i confess that's not all ♪ donka shane ♪ darling donka shane >> that's unbelievable. >> you said you found a nuance of young people who have come to know you now through movies and other sort of pop culture things. >> right about 20 years ago, as i mature, so is my audience
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maturing, so i should gear certain things through television that age group we had over the last 20 years and our demographics have really shown it. >> definitely. >> and it could be another 50,000 shows. wayne make you money. my mission is simple, to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere, and i promise to help you find it. "mad money" starts now. hey, i'm cramer. welcome to "mad money." welcome to cramerica. other people want to make friends. i'm just trying to make you some money. my job is not just to entertain but to educate and teach. so call me at 1-800-743-cnbc or tweet me @jimcramer. the darned kids, the darned


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