Kevin O'Leary
👤 SpeakerAppearances Over Time
Podcast Appearances
Well, it's worse. Maybe when they're young, they're taught this is completely fair to do this. You steal, you cheat. It's part of the psyche of how you build your economy. It doesn't matter that it wasn't your idea or that you spent millions of dollars in R&D to create it.
Well, it's worse. Maybe when they're young, they're taught this is completely fair to do this. You steal, you cheat. It's part of the psyche of how you build your economy. It doesn't matter that it wasn't your idea or that you spent millions of dollars in R&D to create it.
Well, it's worse. Maybe when they're young, they're taught this is completely fair to do this. You steal, you cheat. It's part of the psyche of how you build your economy. It doesn't matter that it wasn't your idea or that you spent millions of dollars in R&D to create it.
they simply don't give a shit and that is what we have to fix because if they want to play with the big boys including trading in europe and everything else stealing everybody's ip and then selling it back into those markets and flooding the markets with the exact same product that usually a 30 to 40 discount with no consequences
they simply don't give a shit and that is what we have to fix because if they want to play with the big boys including trading in europe and everything else stealing everybody's ip and then selling it back into those markets and flooding the markets with the exact same product that usually a 30 to 40 discount with no consequences
they simply don't give a shit and that is what we have to fix because if they want to play with the big boys including trading in europe and everything else stealing everybody's ip and then selling it back into those markets and flooding the markets with the exact same product that usually a 30 to 40 discount with no consequences
is going to end up in a very bad place for everybody because they can't sustain that forever either. And look, everybody wants to do business in China. I want to do business in China. All I'm asking for, and I don't think I'm being unrealistic in this request, is give me a level playing field. Let me use their courts to litigate trade disputes and resolve them, just like they use ours.
is going to end up in a very bad place for everybody because they can't sustain that forever either. And look, everybody wants to do business in China. I want to do business in China. All I'm asking for, and I don't think I'm being unrealistic in this request, is give me a level playing field. Let me use their courts to litigate trade disputes and resolve them, just like they use ours.
is going to end up in a very bad place for everybody because they can't sustain that forever either. And look, everybody wants to do business in China. I want to do business in China. All I'm asking for, and I don't think I'm being unrealistic in this request, is give me a level playing field. Let me use their courts to litigate trade disputes and resolve them, just like they use ours.
Can you not do that? No, you can't. Just to give you a sense of how crazy it's gotten, there's a law on the books that says for Chinese companies, when they want to raise capital in America, they can go to the NASDAQ or the New York Stock Exchange, form a company, issue shares to Americans that aren't real shares. They're shadow shares.
Can you not do that? No, you can't. Just to give you a sense of how crazy it's gotten, there's a law on the books that says for Chinese companies, when they want to raise capital in America, they can go to the NASDAQ or the New York Stock Exchange, form a company, issue shares to Americans that aren't real shares. They're shadow shares.
Can you not do that? No, you can't. Just to give you a sense of how crazy it's gotten, there's a law on the books that says for Chinese companies, when they want to raise capital in America, they can go to the NASDAQ or the New York Stock Exchange, form a company, issue shares to Americans that aren't real shares. They're shadow shares.
What's incredible about this, they don't even comply with GAAP. And so what this law said was, it was Rick Scott who originally got the momentum, the senator out of Florida on this deal, and said, look, we'll give them three years to comply. That's a long time. And then they can stay listed on the exchange. And while Gensler was the head of the SEC, he didn't enforce this law.
What's incredible about this, they don't even comply with GAAP. And so what this law said was, it was Rick Scott who originally got the momentum, the senator out of Florida on this deal, and said, look, we'll give them three years to comply. That's a long time. And then they can stay listed on the exchange. And while Gensler was the head of the SEC, he didn't enforce this law.
What's incredible about this, they don't even comply with GAAP. And so what this law said was, it was Rick Scott who originally got the momentum, the senator out of Florida on this deal, and said, look, we'll give them three years to comply. That's a long time. And then they can stay listed on the exchange. And while Gensler was the head of the SEC, he didn't enforce this law.
But a new guy, a new sheriff's in town named Paul Actons just got confirmed last week, and he has made his public statement saying, okay, I've had enough of this too. Every Chinese company that is listed right now that is not complying with GAAP, I'm going to delist them. That could be as much as $800 billion of market cap.
But a new guy, a new sheriff's in town named Paul Actons just got confirmed last week, and he has made his public statement saying, okay, I've had enough of this too. Every Chinese company that is listed right now that is not complying with GAAP, I'm going to delist them. That could be as much as $800 billion of market cap.
But a new guy, a new sheriff's in town named Paul Actons just got confirmed last week, and he has made his public statement saying, okay, I've had enough of this too. Every Chinese company that is listed right now that is not complying with GAAP, I'm going to delist them. That could be as much as $800 billion of market cap.
That should happen because why is it fair for an American company to have to pay for compliance and be compliant with all the regulators here in America to stay listed, which costs millions of dollars in some case, and they're competing with a Chinese company right next door to them that doesn't have to? Why is that okay? Under what scenario is that fair?
That should happen because why is it fair for an American company to have to pay for compliance and be compliant with all the regulators here in America to stay listed, which costs millions of dollars in some case, and they're competing with a Chinese company right next door to them that doesn't have to? Why is that okay? Under what scenario is that fair?