MAD MONEY 文字起こし 09JUL21 Good Rx CEO, Poshmark CEO & Dr. Eric Topol

ジムクレイマーのMAD MONEYの文字起こしになります。米国株を英語学習を通じて投資したい方に向けて作りました。皆さんの反応を見て改善点や英語解説などい追加して行けたらと思います。とても有益な番組なのにジムの英語が難しくて悩んたのをきっかけにこのノートを作成しました。 聞き取れない部分もあるのでご了承ください。

是非MAD MONEYを聴きながら合わせてこのnoteをみれば、様々な州のアメリカ英語を聞くことでリスニング力を鍛えることが出来ると同時に、タイムリーな米国株投資情報を得ることができます。　イイネ！と思った方は投げ銭いただけると嬉しいです！

窶皿ad Money w/ Jim Cramer: Good Rx CEO, Poshmark CEO & Dr. Eric Topol on Apple Podcasts

0:47
On Cramer, welcome to Mad Money. Welcome, America. I'll do all my friends. I'm just trying to make a little money. My job is not just to entertain you but to educate and teach. So call me at one 807 43 CNBC, or tweet me at Jim Cramer. May I kindly and politely ask the politicians around the world to cool and stop doing more harm than good. Maybe do your jobs and protect us from real problems. Maybe support businesses that work and stop attacking them, maybe stop shaking down winners and go after the bad actors instead. On a day where the Dow dropped 250 points as to be shed point 6% NASDAQ lost point 70% and bullied me it was much worse earlier today. I put this sell off squarely in the labs of politicians around the world because we right now have a failure of global leadership. They know nothing. Let's start with the obvious one, the Delta COVID variant, which we're going to hear from more later from the outspoken genius, and I mean, Dr. Or total. First here in America, we are doing a much better job of getting people vaccinated the most countries, but we screwed up big time when we made the vaccination process voluntary. millions of people around the around the world, I think died of COVID millions have been saved by the vaccines. Yet now we have a new strain of the virus. It's spreading like wildfire in the parts of the country where people seemed to be afraid of needles or politically against the process. I want you to compare that with one of the great presidents President Eisenhower who mandated that everyone get vaccinated against polio as soon as we had a working vaccine. I was it wasn't some voluntary thing with the government recognize your right to choose to get sick and spread a deadly illness to others. What the polio was in part of that is now refuse to botch under any circumstances. By the way, we did the exact same thing with smallpox 120 years ago, but today, today we got the rules. We don't know if companies can force the workers to get vaccinated. We We don't even have the FDA on board. Neither Pfizer's vaccine nor modernists have actually been approved. They're just being administered under emergency use authorizations. The FDA will prove an Alzheimer's drug of inquiry, incredibly dubious efficacy, but a vaccine has been given to hundreds of millions of people is treated as an experimental exception. Maybe you think this is a technicality, but so many Americans don't trust the vaccines and the lack of FDA approval sure doesn't help. I challenge the FDA to explain themselves and their foolhardy behavior. They are just playing off the reservation. I point all this out because today's sell off was all about the Delta buried, especially the way governments around the world have dropped the ball containing I was watching the futures Emporium and they were soggy. But they took the real hair when we learned that there would be no spectators allowed at the Tokyo Olympics. What the heck was the Japanese government thinking? I couldn't understand this decision for wifly until I looked up the numbers and I saw that only 15% of Japan's people are fully vaccinated. 15 one five I can't believe that with like the Olympics go for without seriously preparing for major outbreak. But even now, banning spectators seems crazy. I have another idea. Why not just ban everyone is not vaccinated. Governments it How about the PRC? Boomerang, the People's Republic of China, insisting on using its own vaccines, even though they only work about this typically best, as well as a flu vaccine, maybe 80%. But some say is closer to 50%. Okay, 50%. That's not enough. Now, if they swallow their pride and went with Pfizer or Madonna, their people will be much better protected. Oh, but they will do that. And now China's economy slowly thanks to a resurgent COVID outbreak. totally unnecessary. Yes, they could, they could bite the bullet tie up with Pfizer or majorna. But what I hope they do at least is go with biotech, that partner of Pfizer. Now we know governments around the world have handled this virus poor. I think that much of the week this year, including the decline in Treasury yields everyone's upset about that has to do with the spread of delta very to you should fear fear, what it'll do to travel fear that it will mutate and break through the vaccine, that that's making investors worried about slowing growth so you end up with this Negative loop where people swap for stocks to bonds. That's plain and simple. What's happening? Okay, believe me, I've done enough work behind the scenes to know that I'm not just saying this island. It's not just that the world leaders keep finding new ways to screw up the response to the pandemic, though. Some stocks are also getting hit thanks to hostile government intervention. We know the democrats republicans hate each other.

5:20
Right? I mean, ridiculous. The only thing they seem to agree on is the Facebook, Amazon alphabet, Apple are too powerful and must be broken up or punished or something. They want to investigate big tech, sue them penalize them. They want to pass laws to hobble them, like Kathy Bates did to James Caan and misery, one of Stephen King's best, although some of those scenes are hard watch. Yesterday, after the course we will alphabets being challenged on any trust grounds for something we need no notice as users. I mean, you know, sometimes I wonder if the politicians for both parties are aliens, you know, maybe from like Mars or some who don't use these services, hey, maybe it's just that they tend to be really old. I'm looking at those ages. They've chosen to go after all these big tech companies that make our lives better and offer us amazing bargains. To the extent that there's a real interest case here is that the bargains are too good to the point where they unfairly hobble the competition. But the solutions to that so called problem is forcing, say Amazon to raise prices. Thanks for nothing. Or how about President Biden suddenly coming out and downgrading railroads? That's it his new executive order to combat consolidation, allegedly anti competitive behavior in the rail industry. This is the first time I'd ever heard anyone accuse the rails of price gouging. I see what the White House is doing. This is part of a big anti trust push. But if you want to be pro environmental president, maybe it's not the best idea to attack the rails, they get four miles to the gallon, make him our best hope for clean transportation. Maybe Biden just wants to block KSU Canadian National, but his executive order crush the whole group. What the heck are they supposed to do? lower prices when the competition Trump's has gotten more expensive? railroads are natural monopolies. So you have to expect a certain amount of regulation. This is to us a reminder this not appropriate business presidency, anti business. That said in American presidents hospital business is a lot milder than Chinese president who's awesome a business. It's like President Xi suddenly remembered that China is supposed to be communist country. The Communist Party doesn't want billionaires in their society. They don't want cryptocurrency either. So they're trying to stamp both out. She has turned out to be an equal opportunity destroyer. I'm still raw over the DD IPO. He left the Chinese Uber come public here then wrecked its earnings potential Few days later, by forcibly removing it from all the app stores Don't blame me. I didn't know. That was pretty egregious, although obviously it doesn't come close to the worst crimes of the region, the regime and I'm talking here about like putting religious minorities in concentration camps. Yes, Nike, they do do that. Finally, can our government get it together and make it a crime to pay off the hackers and ransomware attacks, please, that would force the perspective targets to actually spend more money on cybersecurity. As long as we have no real system in place, businesses will under invest and protect themselves and the attacks will keep coming. See it's cheaper to pay off the bad guys in the brand of CrowdStrike or Palo Alto. The good news, if we get the COVID variance under control by forcing people to get vaccinated, I think bond yields and the stock market will start rising again. Bad news. I don't see much hope for speeding up vaccinations without either paying people money or coercing them neither which is going to happen this country. Here's the bottom line. America is one of the best vaccination programs on earth, and we're still getting hammered by the Delta Varian. So just imagine how the rest of the world is doing and you know why the stock market got clobbered in the morning and improved as the overseas markets closed during the day. Joey in Arizona Joey,

8:33
Bujar chill man, I want to get your take on Corning Glass GL w six manufacturing plants in mainland China. Should I be worried about the regulatory crackdown?

8:43
No, because you see if you make it in China, they seem right now to be fine with you. Here's the problem. I don't think it's an earnings momentum to want to be in the stock of Corning. So I'm going to say no, we're certainly not out of the woods just yet. COVID but if we can get the various under control by forcing vaccinations, FDA approves it. I think bond yields or stocks could rise get married tonight. I'm sitting here with good RX CEO find out how the company is working to make affordable health care more accessible and a freelance economy then could a more sustainable approach this shopping also make for a winning investment. I've got this person but a company you got to listen to see a poshmark and one of the top doctors in the US is flashing a warning signal when it comes to the FDA and the Delta vary with the FDA do can do to help. Stay with Kramer.

9:33
Don't miss a second of Mad Money. Follow at Jim Cramer on Twitter. Have a question? Tweet, Cramer hashtag mad tweets. Send Jim an email to Mad money@cnbc.com or give us a call at one 807 43 CNBC miss something head to Mad money.cnbc.com getting that Invest like a pro access CNBC is live streams around the globe, unparalleled access to CNBC experts actionable investor insight and ideas. start your free trial today@cnbc.com slash Pro.

10:21
What do you do when a company with a great concept brings some serious competition? Well, that's the question we need to ask ourselves about good Rx, the platform in which a comparison shop for prescription drugs, which also has a telemedicine business. Now, as a big fan of good or excellent it came public last September. I love their app user all the time. However, November Amazon wants its own pharmacy business. Then last month, Walmart NASA biggest patient of its own cheap drug pricing program. Well, these are two of the largest retailers in America, incredibly deep pockets, making them fearsome rivals, even if they're just kind of partially in the game, these competitive fears of held back good or extra stock of last couple months, even as the other digital growth names have come back with a vengeance doesn't matter, the company is still putting up real strong numbers. Everybody scared Amazon, I didn't think Amazon's winning. But you gotta wonder if good RX has already been punished enough, especially since the company keeps rolling out new initiatives. Just today, they partner with doordash to offer discounted subscriptions to their to their discount drug program to doordash drivers. So let's check in with duggars. He's the co founder and co CEO of good Rx, to get a better sense of landscape and what he sees going forward. Mr. Hirsch, welcome back to Mad Money. Hey, Jim, good to see you again. All right, we're gonna cut to the chase on one thing, and one thing very important. You have some unbelievable work that you've done about Amazon, can we just take them off the table? It turns out, people don't like to get prescriptions by mail. You said they'd never gained any ground and they haven't.

11:52
Exactly even in a pandemic, right? I mean, you think when all the retail stores were shut down, that mail would have gone through the roof, and it didn't really budge much. And now it's actually retreating. About 5% of prescriptions in this country are actually delivered by mail. And that's just not growing, because people like going to the pharmacy. And so, you know, I feel like we've been stuck in this loop where people somehow think that, you know, good RX and Amazon are somehow bad in a battle, when really we're a marketplace. And one of the great things about good RX is we have both better prices and more choice, our prices are lower than Amazon's pharmacy, and male 90% of the time at retail 100% of the time. And you can use you know, go to your favorite place, Walgreens, CVS Rite Aid, you know, Kroger, you know, you can get better prices and more choice within RX. And yet people still, you know, somehow think Amazon is gonna is gonna win this battle.

12:33
Yeah, I'm so glad you said that. Because I'm tired of people here saying, number one, Walmart, okay, other than the insulin, which was very good. And we have to ask you whether your insolence the same poison, they've chosen not to compete, correct. Other than generics?

12:49
Yeah, I mean, so Walmart's been discounting individual prescriptions for a long, long time before good RX existed even and we've been around for a decade, right, Walmart did four and 10 lists. And I always think it was like doorbusters, where you're going to put something cheap in the store to get people in. But on an ongoing basis, again, good RX will find you lower prices than Walmart plus 80% of the time, 90% of time, if you include the cost of I think it's $100 subscription fee. So it's like, you know, nothing's going to be the marketplace because we work very closely with those retailers to provide the best practices at the place you want to go to. And so I just, I'm not concerned about these guys, I backed on closer than ever with these guys, because they all want to drive business, we have 20 million people a month coming to interact using our service, we have over a million subscribers, Twitter and gold right now, we've never been faster, we're rolling out new initiatives, we're just crushing it with all these new things like online doctor visits and our own mail order service. So I just feel crazy confident and I wish the market would somehow understand a little better.

13:40
Next, one of the things that bothered me about two I'm not going to singular names out because it may have been the pharmacist themselves. But two of the pharmacists major change was that they had it within their ability to know how much good or X was, was charging. And yet they paid me the full full freight, which angered me to know when a third pharmacists I went to and there's three of these right told me Listen, go get the good RX coupon, it will save you 1000s of dollars. I mean, the system should be sending people to good RX.

14:14
Well, and Funny enough, the system actually does. I mean, one of the greatest strengths that we have in a decade of business is that doctors and pharmacists actually believe in good Rx, because they want patients to take the drugs they prescribe. And they want the patient to not leave the counter frustrated. And so very often for consumer their interaction, their first interaction with their ex is a pharmacist or a doctor saying, hey, you should use this because it can help. And it may even be lower than your insurance because again, commercial insurance is not what it used to be. And we're so proud that again, like with good RX gold, we have over 1000 drugs for less than $10. The average member saves 20 $600 a year we just added Rite Aid together as well too. So now you have over 30,000 pharmacies you can go to. So I just I think it's important that people understand that we're working, we're working with the business working with the industry. doctors want this pharmacists want this. They want people to take their meds, they're good people, and we want to support them in that mission

14:59
and people Don't believe just go in the web. It's a number one web weighted number one rated website for medical for the last three years, you can just go download it, they have it right there they have the prices that you're paying versus the prices you will pay. It's astonishing. You have written someone dies every four minutes to us for not taking prescribed medicine extracted 20 to 30% of all prescriptions the US not fill. This has to do with price, not laziness, correct? Yeah, 100%. I

15:27
mean, you know, I can ask any farmers that they'll tell you that, you know, when the person standing at the counter, and they say it'll be 2025 bucks, which may sound you know, load to you. But for a lot of America, that's a big bite, they'll just leave it, they'll just be like, forget it, I won't take it. And so people need tools, they need to have information. And then they need to have the ability just like they do in any other industry to to say, Hey, I'm going to go here because I can get a better price here. I'm going to use good Rx, instead of my insurance. You have to be an active consumer and we give you those tools so you can be smart and educated and take control your healthcare like you would with any other category. You just haven't been able to do it in health care, because it's a big mysterious black box

15:59
and smart and educated that means vaccines you how many millions of people, have you been able to help convinced that may not have been vaccinated that it's worth it?

16:10
Yeah, I mean, over 2 million people came together, x signed up. And what we did is we tracked inventory across the entire country, every single place that was doing vaccine appointments. But you know, this was back when it was really hard. There was more demand than supply. And you know, I literally I woke up one morning, I was like I'm in this office because someone's got to solve this. I want to be able to get access to prescribe it to vaccines. And I'm very, very proud of the work we did I think we had the biggest tracker of vaccine appointments we found people appointments we you know, did a solid thing for the for people and this was saving live stuff. And it's what makes me it's one way I wake up every morning wanting to do and it's the my dream product and I'm so excited that we got

16:43
just ultimately helping and finally because I think it's terrific the good RX and doordash partner to provide gassers nationwide with access to good RX coal, we are all worried about the gig economy people we all feel that to some degree, they're being shafted. They've anybody freelances country, 53 million people you say are freelance, this is what they need? Correct? Yeah, I

17:03
mean, we're, you know, very often at our company, we're responsive, right? People call us up and say help, I have a pain point or my members of the pain point Siddhartha has called us up and said, help, we've got all these dashers who can't afford their prescriptions, they can't stay healthy, we need healthy dashers and we said we can help you with this good RX gold is an incredible product that can find you savings on all your prescriptions. We also by the way, just close the deal with USA as well for their members. Like we're focused on trying to serve not just American consumers, but organizations, employers, anyone that basically is finding these pain points and wants to have a healthy population with

17:32
a video with a doctor. You can do it with a doctor because you also have that service now.

17:38
Correct. We got video doctor visits, which are super cheap. I think they started like 19 bucks. It's just super easy. And then we can even send the prescription right to your house just like you know many other folks do. But with good RX. It's all in one box. You just do it, you push a button, it comes at a very reasonable price.

17:50
Well, when the company was private, I will leave you with this about about good RX. I said you've got I hope this company goes public because it has saved me and my family 1000s of dollars. I don't mind saying that. Now that it's public. I don't understand the pricing of the stock. I just don't. But you know what? You heard about what we said about Amazon. And that is ridiculous. But it's probably the principal reason why it's not rally dog hearse, co founder and co CEO of good or x dog. It's always great to see it. Thank you, Jim. Thank you so much. Look, I'm not telling you, you got to do the work. But start with the app. If you like the app, then you probably understand what the heck I'm talking about their monies back after the break.

18:28
Coming up fine. So and look your best simple, clean partnership and that's why I've done it for loyal to us and sold our shopper creamer and checks in with the online store that does more. Next. Get an edge invest like a pro access CNBC live streams around the globe, unparalleled access to CNBC experts actionable investor insight and ideas. start your free trial today@cnbc.com slash Pro.

19:05
early this year, we got a wave of IPOs it's sort to just kind of ridiculous levels really tainted the whole group before falling back down to earth. Now some of those stocks, I think are worth picking at all, but you got to be selective and you got to know what you're doing. Which brings me to poshmark the online resale marketplace mostly for apparel, they came public with a bang in January deal price of 42. Good price, but then the stock soared more than 140% on his first day of trading jumping to 101 bad since then the stocks come way way down, pulling back to 39 unchanged. Now let's blow it's offering price couldn't be enticing these levels. These recent marketplaces have been growing like weeds lately, and poshmark has excellent numbers 40% plus revenue growth and latest quarter Not to mention positive earnings before interest, taxes, depreciation and amortization. Meaning it's not losing money. Plus it's got a great ecosystem 7 million active buyers nearly five sellers, many of whom are awesome, basically content creators curating their own books for their customers. Yes, you can actually do so much cool stuff on this site. This afternoon we got a chance to speak with postmarks posh marks founder Chairman and CEO, Manish shaundra at the NASDAQ stock exchange. I thought it was fascinating. I want you to take a look. Nice. I think the world is buzzing about the pandemic wardrobe purge. And I keep hearing posh marks name. When I hear about the purge.

20:33
Well, we are right in the middle of it because we have millions of people who are using us to purge their closet, recycle and buy new things on the platform. Recycle,

20:43
meaning this does not end up in a landfill which millennials and all the Gen Xers

20:48
are just trying to stop. Absolutely. We save millions and millions of clothes from going to the landfill. And really finding not just homes. But once your people are excited to wear these things. I mean, everything I'm wearing is from poshmark and everything is found a new life on my body. Well, did you find it at a poshmark party? I did. We had we have amazing parties every evening where people buyers and sellers come together, both in the virtual world game but also in the physical world. And we actually just last month had our first physical event after almost two years, a small 30% gathering of all vaccinated people, which was just amazing to see our community back in my day it was it was amazing. So our community is very special. People support each other. Our sellers are not only sharing items from their own closets, but they spend more than half their time sharing items from other people's closets. So that promotion of each other and support for each other was alive in the party. People were missing each other. They were hugging each other. They were tears of joy. They were connecting sharing tips and I learned so much about our community.

21:53
People immediately say well, how can I go up against depop? And how can I which is now owned by Etsy at home against real real, this is different model which to talk about.

22:01
It really is we are a social model. We're a community based model, very loyal buyers and sellers that allows to have very long legs. From the beginning, we created a very simple partnership with our sellers. 20% we take 80% they keep and that has allowed us to not change our commissions for almost 10 years now. very different than most marketplaces, keep tacking fees are simple, simple, clean partnership and that's why sellers are loyal to us. And so are our shoppers.

22:26
Alright, well let's let's talk about sellers. My daughter sometimes, of course is dead, it don't bother me. I'm selling things on poshmark as if it's a business,

22:36
but I think it is. It is it is people start by selling a few items out of their closet, and then slowly discovered their superpower which is selling merchandising this stock to source items they held my daughter, for example, help some of my wife's friends sell their items. And then they start to discover that superpower they go sourcing they go thrifting and then they start to create these closets. People have built seven figure businesses.

22:59
So they have people who literally started with their, their their garage or their closet. And now we're making a million dollars a million dollars. Yes,

23:08
we've got you know, someone who started the business she was 18 she's first model a single scar from our mom. And now she has a pretty large business and poshmark actually employees people get

23:20
that's terrific growing economy, and opportunistic and empowerment. I know that you are empowerment but but I also have discovered that you lead Now this could be recently but you take a huge step for diversity inclusion. There is literally every single sacred clothes from every single religious group now available very far, not in direct listings. Yes, and that was a conscious decision for diversity inclusion.

23:47
We started by sort of saying, Okay, we got to be filtered when we're starting and my co founder, Tracy, we looked at it. But literally, there were buyers and sellers from all different backgrounds, we started to really encourage that whole thing, and recently launched something called style tags that really allow you to broaden that diversity into many different directions and merchandise in many different directions, even stuff that we haven't conceptualized yet.

24:10
Alright, so let's talk numbers. Is the as we get vaccinated getting more and more people as the trend line like this.

24:17
Well, we certainly are seeing real change in what people are buying. So for example, things like bikinis things like jean shorts, things, you know, which are basically used for going out, up 80 to 100%. On the platform, workers are starting to see a uptick 30 plus percent on the platform. And workout clothes are actually seeing a downtick as we sort of move away from smart sensors, real data. So we're sort of in a way, starting to get people ready. If you think about a platform like ours, you go out you meet you go on a date, you go to a wedding, that dress that you're wearing is now ready for recycle reuse. Well, for the last year and a half. He was sitting at home, right as people are going going out. It just starts to kind of get that what you call this, this big pandemic.

24:58
It's starting to happen, but I understand there are people who basically are saying, I am sick of it on vaccinated, I'm going out, I want to get rid of everything and start all new, but all

25:08
new meaning all new from poshmark, all new for poshmark. And it's really it's it's, it's in a way, it's it's a gigantic purge. But your purge is valid for someone else, what you don't like, I like what I like, what I don't like you like. So it's sort of this whole gigantic movement is so much better than taking these slots and throwing them in landfill and sort of discarding them. And what poshmark we do special is we really allow you to curate these items. So for example, when you're putting an item for sale, you're not just like, oh, here's an item for sale, you stick, you create a cover shot, you even create a video, we were talking about your daughter create video for a person, she couldn't say. Exactly, exactly. And so people get really carried away and they sort of create these beautiful things in our platform. People don't leave reviews, they leave love notes, you get a love note at the end of the process. So it's really a much more social, much more community oriented platform than anything you've seen. But

25:58
let's say you're just so mean your ad See, he watches this show, he's bought D pop, he paid a lot of money for it. Why can't he just say, okay, people, I want community, I want social I want this duplicated? Isn't that a concern? Well, I

26:12
mean, I think if if you build something great people are gonna replicate, by the way, love Josh and have a lot of respect for him. So absolutely. But at the end of the day, fundamentally, what we built is social, and simple. For example, one of the things we created day one was something called posh post. When you sell an item, you get a shipping label, you don't have to worry about the size of the item, the physicality, just ship it. That simplicity requires a pretty big bet to make when you sort of have everyone curating items, not just from your closet from other people's products. That's a big bet you make. So all of these things are hard to sort of just shift a platform in this direction. You've got to believe in it, you've got to live it, and you got to work it.

26:51
I signed up there. I've got one, I got like an hour of free shipping. you're offering great stuff. So you might want to tell people, if they sign up the it starts instantly.

27:01
It starts instantly you start to build your community start to build shipping, you start to get sellers. And really the great thing is sellers are building their community of shoppers and shoppers are building the community of sellers that creates that stickiness that allows for those long cohorts to develop on the cloud.

27:16
And if someone wants to get started toward building a million dollar business, what do you suggest?

27:21
I would suggest starting to get great listings up, take great photos, share, follow people connect and build your own community and build your own dream on poshmark.

27:31
Well, Denise is very, very exciting. And I just think that what you've done is remarkable. That's been nice Chandra, he's founder and CEO of poshmark. Thank you, sir.

27:40
Thanks for having me. with you. Coming. Economies reopening the Delta variant threatening, the carbon recovery continues and the doctor is in them.

28:04
Just when we thought we finally eaten the pandemic, this new COVID variant start spreading like wildfire all over the world. We're in relatively good shape in America with high vaccination rates compared to the rest of the world. Other countries are having a harder time what is Japan declaring a state of emergency and banning spectators for the Olympics just early morning. So we can't take the recovery for granted. We need to stay close to the story. And if you want to follow pandemic, you have to read everything from Dr. October. Now. At the very least follow me on Twitter, please. He just published a piece in The New York Times last week arguing that the FDA needs to fully approved the Pfizer moderna vaccines, which are still being administered under emergency use authorization frankly, that's crazy. So let's consult with Dr. Toby. He's a fantastic cardiologist, founder and director of the Scripps transnational Science Institute and NIH funded program focused on individualized medicine and has written a lot of great books. Dr. tobel Welcome back to Mad Money. Great to be with you again, Jim. All right, Doc. There's some serious stuff we got to talk about. And I want to start with the idea that this this market went down very big last night because Japan said no spectators. You published a tweet just not that long ago about how about that in UK? how bad this variant really is. It give us the real skinny on the Delta very, it sounds very bad to me.

29:21
Well, it depends on your perspective. The cases in the UK are certainly going up. And yes, there's hospitalizations and deaths going up with them, but nothing like what has occurred in previous waves there. On the other hand, in Israel, where there's even higher levels of vaccination, perhaps even more potent vaccines because of only using Pfizer and Madonna but they're the case rise and they're Delta dominant, just like in the UK, maybe not quite as long, but they're doing very well the case rise is small and essentially, you know, little beyond that. So, you know, depends on your perspective, but The places that have the most vaccination are holding up well, and places like Indonesia, Russia, South Africa, Bangladesh, many other places that have poor vaccination rates are experiencing the worst waves of the entire pandemic. And that's a real problem.

30:17
All right, so let's talk about United States. Just now there was some news about how Biogen may not be able to get away with its $56,000. We don't even know whether it really works, so called stopping of Alzheimer's, which you and I both know, it's not true. Somehow that happened, it got right through got right to the FDA, then we have millions of people taking a vaccine that you just said, has worked very well, under emergency use. Doc, if this were just made into a regular approved vaccine, could we go to employers and say, you can mandate it?

30:54
Exactly. So here's a amazing thing that you're getting at hundreds of millions of people now have taken the mRNA vaccines. There's never been an emergency use authorization for a new vaccine in history. And so the idea that you could approve an Alzheimer's drug for anyone with Alzheimer's with no data or evidence clinical to support it, but not approved these vaccines for full use non emergency use. And then what we're getting at is, once that occurs, the day that occurs, so many health systems, companies, municipalities, high schools, universities are just going to make this requirement. So that's where we can get 10s of millions of more people in this country vaccinate, which will give us so much more protection against the dog devaron.

31:48
So who, in what is supposed to be a progressive FDA is standing in our way. So we might be able to maybe single them out and put a little pressure on them?

31:58
Well, we do need to put pressure, which is why, you know, I wrote that New York Times op ed, but there's no word. You know, there's not even any transparency about what's going on. And we do know, I think this is important to underscore these applications for full approval didn't just appear suddenly, in May, they actually were being searly given to FDA for review, because of this pandemic situation. So the FDA has had seven months to do plant inspections to do review of all the data manufacturing, and they haven't said a word about what's going on. And that's not acceptable.

32:37
I can't was not listening to you, you have been such a great authority. Okay, well, let's deal with another thing we all have. What I regard is anecdotal evidence of breakthrough cases, nothing empirical, though, we also hear that the breakthrough cases do not necessarily lead to deaths or even hospitalizations, lot asymptomatic up, is it going to be empirical, we soon find out the breakthrough cases are much bigger than we think. And are those people who get sick or even asymptomatic? Could they suffer longer term from a long haul? COVID that we don't know about?

33:09
Yeah, you got a couple of big questions, important ones there. We don't really know the story about long COVID. You know, breakthrough infection is nothing known. We were hoping, of course, that it would be a non issue. But we just couldn't say at this point, the breakthrough infections, you know, it's still early, the people that are going to be prone are going to be more advanced age or have any kind of immunocompromised. And certainly the Delta variant is more of a challenge, because it, you know, just published today in nature, it really got into this immune evasiveness of this version of the virus. So, you know, breakthroughs take time, to show up. So far, this country has had an incredible track record of for lack of any symptomatic breakthrough infections, you know, 99.5% of the deaths that have occurred, have been an unvaccinated people. So few have any serious infections, severe illness has occurred and people vaccinated, but we're just now jam getting into the time when delta is dominant in this country. And it's showing up big time, you know, in certain states like Arkansas and Missouri with poor vaccination rates. And what that poses is people who have been vaccinated, they're not 100%. So you know, some percent are going to be exposed to those people getting spreading COVID and we're going to see more breakthrough infections, and we'll see what happens.

34:41
I understand that Pfizer might be developing a bat vaccine booster that would just be for the Delta variant. What are you hearing?

34:50
Well, they just filed for an emergency authorization for the third booster dose. That's a an application that isn't approved by The FDA, the problem with the gym is there's not sufficient data to warrant that. We don't know whether people are going to need a booster because just because the antibody levels come down in the blood, people may be cells that are on demand to make antibodies later, and T cells. So this might be necessary in people of advanced age, or if they have immunocompromised conditions. But still there are no data to support why need for a booster shot? Obviously, it's in the interest of Pfizer, but it may not be in the interest of most people.

35:34
Well, I sure hope people listen to you, I feel like that it is downright selfish at this point to not take the vaccine. What do you say one less thing? What do you say to people who are saying, I'm anti Vax? And I don't want to take what he's saying,

35:49
well, this is the most impressive triumph of biomedicine in history, and to not take advantage of it. Not just for yourselves, but for everyone that you connect with in your life is really extraordinary. I mean, to have this great progress and not take advantage of it. It's sad because the disinformation out there, Jim is profound. These are lies, these are made up fabricated stuff. The safety and efficacy of the vaccine are extraordinary, unprecedented, and we should really take the benefits that they can reap for protecting us.

36:27
Well, Doctor, thank you so much for coming on and for your common sense as always, Dr. Archibald of Scripps Research great to Caesar Thank you. Thanks, you. Listen to this man. By a fall I read all his books. I followed him from the moment we were able to take get knowledge of him. He's right. Now he's back and just chill. Again. J the chill man is in the house. He's happy. The lightning

36:52
round is coming up when bad bunny returns. And then the lightning rounds every new baby's teen dad comes to Miguel in New York began a gym first time caller. Good question. Although what's happened with Biogen AV XL annexes data

37:24
looks far better what? People keep telling me that, you know, in the end, I gotta tell you, I'm intrigued because the Biogen data doesn't look that good. I need to stick with it. It's real spectrum. But I think you stick with Mark and point a mark. Yeah, this is work. Thanks for all your encouragement to I'm trying What's going on? Like questions about the very acquisitive Mirian technologies of San Ramon, that ticker symbol g s. h. Okay. Well, that is, you know, frankly, that's a very important SPAC that I don't know enough about so I can't comment. I've got to do more work on that particular spot because I do hear good things that that I believe Goldman is involved with. Let's go to I've got to find out more about them. That's kind of Peter in Illinois, Peter.

38:11
Peters, Mom, thank you for you. Okay, sure. Hey, no problem. I didn't do that Chinese auto Evie company. I bought it at $34. It went up to 55. But now it crashed to 45.

38:28
No, no, young man. Yo, man, listen to me. We're done with China. Chinese ideas. I want you to sell Neil. Okay. I want to sell half of it tomorrow. And I hope it goes up. I love your interest. But I am very worried about China. And so if I saw you in person, I would say Hey, buddy, come on. Let's take a little off the table. And you go to Sebastian in Florida Sebastian. How are you been? Kramer How you doing? I'm good. How are you? Good. Great. I want to ask you but the the Okay, this is this is Churchill's This is like Michael Klein's thing. I mean, I know that sounds wrong. I'm just punting on all these but he's got five. He has five spots. And I have be wrong just to say oh, here's what I would do with that speck. I've got to do more work. I apologize. Let's go to Tad North Carolina tag. Dr. Kramer. Oh, are you sorry? My stock is up. Sorry. I didn't understand the short position in AppStore Why don't the main people the aim sisters whatever the heck they are call themselves go into that company because it is really good. Artificial Intelligence. Lenny, would you please go after something good. And that ladies and gentlemen is that can close it.

39:44
lightning round. lightning round is sponsored by TD Ameritrade. Coming up at zoom, we'll travel. Find out how a mobile workforce is changing the economy in ways you won't Next. Tomorrow, kick off the trading day was squawk on the street from post nine at the nysc. Jim, it's

40:17
been a pleasure. It's been fantastic. Yeah. Yes, Jimmy. Teacher I really like this class today. Okay, I'm glad Well, yeah, now

40:25
you have the label tomorrow and a bagel.

40:29
It all starts at 9am. Eastern. That's a brutal flow context board.

40:38
Time to whistle blows traders bracing for what could turn out to be a wild session. The last play of the game markets absolutely getting hammered today. I know it's not easy, but I promise to keep fighting

40:50
for you, Jim Cramer. leveling the playing field for the road is a tough one. But the payoff can be your greatest winnable, joining mad money's training camp weeknights.

41:08
Yesterday there was this fascinating story in the Wall Street Journal. Ketchum, Idaho has plenty of available jobs but workers can't afford housing. If you read that headline couldn't leave your eyes. I don't blame you. How could there be such a terrific place to work with nowhere for those workers to live? Simple. When rich people untether from the office, they don't go into places that have lots of spare housing capacity, they go to for more exclusive locales that simply can't handle the new one slot. Whenever I see a store like this one, I almost can't leave the building I have to pay, especially considering that many journalists tend to be pretty cynical. We know the pandemic has created a hybrid work environment have zoom will travel, which means lots of wealthy people can now live far away from where they work and pay any amount of money for a house in the country. Country certainly more than anyone can in the existing population. The phenomenon catch Mito is playing out across virtually every single little town in America, the cities are emptying out in a hoard of rich people descended upon the country, something nobody could possibly have seen coming. It's almost though there is a rich rush like the Gold Rush, where people with lots of money flocked to a particularly gorgeous area. And very strange things start to happen because the resort based economy and his resort base just can't handle the stream. You know what it reminds me of? It's a trip that we took Mad Money to the BOC in North Dakota, back during the shale boom a decade ago, we wanted to see it firsthand, I make sure that we take a look at the McDonald's is in that area. There was one by the way in the town of Williston, in the heart of the giant oil field where workers made $26 an hour, because that was the only way they could afford to live in an area where the cost of living it's skyrocketing, that McDonald's could have chosen to shut down rather than pay higher wages. But there was well that too much business to justify going out of business. However, it wasn't like that originally, when the shale boom began, they couldn't find any workers. Whenever you hear a company say that it could be that you don't want to code for we won't pay people enough to work here. That McDonald's in Boston showed me how you deal with labor shortage created by a booming economy, offer enough money. And you'll find plenty of workers. That's the solution. And it's going to have to happen in places like Ketchum, Idaho, the rich rush is bringing tremendous demand for all sorts of services that the wealthy can't live without. If you want a piece of that business, you'll have to pay workers a lot more than you used to. Because the cost of living is placed as a sword. That's an unintentional consequence of remote work. We've got a situation where rich people can live in places where they just used to vacation. Now we're in the toughest moment, the moment I observe. When I talk to business owners in the boxing, you see they've seen something similar before there was an oil boom and fit them went bust. Not that long before this one. So all the businesses that expanded ended up getting crushed. I think we're seeing those wrenching stories, because business owners are afraid to invest in expansion, or where to find that their new patrons have been called back to the office. If the hybrid workplace goes away, they could end up like the Balkan shale region, where former boom towns are now fighting ghost town status. But I know how this plays out slowly but surely businesses these towns will realize that untethered white collar workers and the ever improving zoom economy have created a permanent mismatch, it's actually worth catering to. If they don't provide these services, then someone else will step in and solve a labor problem by doing what by paying people a lot more like that. 1000 worth credit where people made $26 now, the most beautiful parts of the country have have to come to grips with the notion that the hybrid workplace is really here to stay. And if they want to make money off their new rich neighbors. They're going to have to raise wages when it comes to business. This problem will only take care of itself. I am actually more worried about the public policy side. People work for local governments think police, fire people, teachers, they could be driven out if they don't get the reasons they need. But as for Ketchum and all the other vacation spots with lots of job openings and fewer people to fill in. There's a very simple solution as President Biden has whispered, pay them war, just like in Wilson, North Dakota, pay more or someone else will do it and make outstanding profits in the process. Pay them more. I like to say there's always a bull market somewhere and I promise are fine just for you right here on Mad Money.

45:39
I'm Jim Cramer. See you tomorrow. The news with Shepard Smith starts now.