36 Burst results for "$1"
Milwaukee Brewers Reunite With John Axford, Place Josh Hader on COVID IL
"Brewers reliever Josh Hater is on the Covid 19 injured list. Some breaking news from your Milwaukee Brewers, who begin a three game series with the Pirates tonight, an American family field utility man, James Peterson, comes off the Covid 19 list. He was a close contact of Christian Yelich. Pablo Reyes sent back to Triple A replacing hater on the Brewers roster is 38 year old John Axford. That's right. The Brewers acquire expert who last pitch in the major leagues in 2018, from the Blue Jays in exchange for cash. Several reports indicate the trade was made for $1 Brewers Begin that series tonight at 6
Fresh update on "$1" discussed on Larry Elder
"Language in the $1 Trillion Infrastructure deal, released Sunday night would require the government to study how many job losses would be caused. By the Biden administrations. Revoking of a permit to build the Keystone Pipeline language is one of several provisions one by Republicans in the legislation that could provide arguments to use against the administration's climate policies. The bill requires the government to conduct a study estimating direct or indirect job losses caused by revoking the pipelines authorization over a 10 Year period. It would also analyze any associated increase in energy costs as a result of the executive order. The study must be.
Senators Looking to Finalize and Vote on Infrastructure Bill
"Infrastructure bill is written as we mentioned a moment ago, and Chuck Schumer is pushing for its passage. But it's 2700 pages long. It was a long weekend here on Capitol Hill, but senators now have in hand the text of that bipartisan infrastructure package. Total price tag $1 trillion, and that includes 100 and 10 Billion for roads and bridges, 39 billion for public transit and 65 billion to expand broadband Internet. It will now head to debate on the Senate floor, where some senators will try and force some changes. And this will be a delicate task that bipartisan group of negotiators will have to keep at least 10 Republicans on board. This to clear the Senate, and it does face some challenges ahead. Those senators are optimistic that they have the votes that they will pass this by the end of the week. Over in the House lawmakers are already on recess. Democrats hold a very slim majority there, and progressives have already made it clear that they want to see a much bigger and larger package passed first and the House try to force a vote to try and extend the eviction moratorium before they left on that Greece s that field. There's no plans to take this up in the Senate. Now, the White House and Democratic leadership are turning to state and local governments trying to put the pressure on them to quickly distribute the funds that Congress set aside to help landlords and renters of the $47 billion available So far, only three billion has been distributed.
Sunset Studios to Spend Almost $1 Billion on New U.K. Film Studio
"Ramped up demand for original content, boosting the need for production facilities. Now the investment firm Blackstone is teaming up with Los Angeles. Space studio operator Hudson Pacific to build a film studio north of London. The two companies will spend $974 million to build a new studio in an expansion of the Piers Sunset Studio business whose Hollywood lots have been host of films including LA LA Land
Senate Work on Infrastructure Plan Slides Into Saturday
"Summer Saturday session on Capitol Hill as lawmakers debate infrastructure The Senate will convene for a rare Saturday session as work continues on the bipartisan $1 trillion Infrastructure plan. As Friday's session commenced. Senate Majority Leader Chuck Schumer was hoping to introduce the text of the bill later in the day might
$1 Trillion Infrastructure Plan Clears Another Senate Hurdle
"The Senate will convene for a rare Saturday session as work continues on the bipartisan one trillion dollar infrastructure plan as Friday session commenced Senate Majority Leader Chuck Schumer was hoping to introduce the text of the bill later in the day it's my intention to offer the text of the bipartisan agreement as a substitute amendment but the full text was not completed Friday and Republicans like senator John Cornyn don't want the process to be rushed to give people more hours to review the process did get pushed along Friday with the sixty six twenty eight vote to proceed to consideration of the bill Mike Rossi out Washington
Senate Convenes for Rare Weekend Session Over Infrastructure Deal
"Lakshmi, saying the U. S. Senate is on its way to beginning formal debate on a $1 trillion infrastructure bill. The process temporarily stalled today after Republicans voiced concerns about how the legislation might affect broadband Internet rates. The bill is key to President Biden's agenda to upgrade the nation's aging infrastructure with broad bipartisan backing. Earlier today, lawmakers on both sides of the aisle appeared optimistic after they mustered enough votes this week to debate the bill. Democratic Senator Joe Manchin of West Virginia, was among them. When you have Chuck Schumer and you have Mitch McConnell voting for the same thing and a bill this large There's a lot of good here a lot of good mentioned, referencing the majority and minority leaders of the U. S Senate. Meanwhile, Democrats are pushing forward with a separate $3.5 trillion spending measure
Rick Astley’s ‘Never Gonna Give You up’ Hits a Billion YouTube Views
"Center Dave Ayler has handed me a major music and video headline from YouTube. There is a a song and a music video of that song that has now reached the incredible milestone of one billion views. Billion with a B charity, and Yeah, you say, all right. What could be that song? What could be that music video is it Is it Hotel California by the Eagles, is it? Hey, Jude by the Beatles. Maybe something by Elvis. I'm thinking, baby Shark babies. Okay, You're close. Steve. Baby Shark is so much better than this. The the new $1 billion behemoth. On YouTube is never gonna give you up by Rick Astutely. We've been Rick Roll big time There have been one billion Rick Rolls charity.
US Senate Advances Roughly $1 Trillion Bipartisan Infrastructure Bill
"Advance a $1.2 trillion bipartisan infrastructure package yesterday. Arizona Senator Kirsten Cinema Announces that she does not support the Democrats. $3.5 trillion budget Bill John boards for passing if, In fact, she sees all the pieces of it. That's why she allowed the budget to go forward. Democrats plan to use a process called reconciliation to move that package through the chamber without any Republican support.
Why Is the FDA Attacking a Safe, Effective Drug?
"Kudos to the wall street journal for publishing this piece. See who wrote it. Women see david henderson and charles. Hooper david henderson is with the hoover institution at stanford senior health economist with president reagan's council of economic advisers and hooper. Charles hooper is president of objective insights. A firm that consults with pharmaceutical clients. Why is the fda attacking a safe effective drug. The subheading ivermectin is a promising cova treatment and prophylaxis but the agency is denigrating. So while they're telling you well you know what the vaccine really doesn't protect you that much you need to wear a mask can't be around. People are infected. And you'll probably need a booster shot and we don't know how it will handle the variant. In the meantime. I've been taking ivermectin for over a year as exactly described as a prophylaxis. I've been around people with covert. I did know social distancing. No mask wearing within my own home. I didn't get a sniffle earlier this year. The agency that the fda put out a special warnings that you should not quote you should not use ivermectin to treat or prevent cova. Nineteen i charge. The fda with killing tens of thousands of americans would that statement plus shattering the economy because of took ivermectin so fewer so many fewer would be hospitalized.
Why Black Media Avoids Larry Elder
"I am wondering. In regard. To regard to larry elder the la sentinel. Is the local black paper in southern california and to the best of my knowledge. They haven't written one article about his running little interviewed him black. The black left cares as much about blacks as the white left. Does which is to say not at all when when you come to realize these things your life changes any one of these is in piff. Unie life-changing epiphany the left is the only place of systemic racism in the united states. The black left and the white left both have contempt for blacks and use them. Larry elder actually wants help blacks and so he shut out of the mainstream. I e left wing plaque media. That's it his magic wand. Question is the question in the united states at this time. I'm paraphrasing. I believe i. I'll get right because the gist is easy to remember. A magic wand is waved over the united states and every vestige of racism in white people is super naturally removed. What problem that blacks face will therefore be removed. Will the seventy percent of black kids born to an unwed. Mother change if if god himself extirpated. Every vestige of racism from every white in america would change anything with regard to being born into a home without a father the single biggest crisis in black life. That's why they they shut him out.
Gavin Newsom Can Raise Unlimited Money Against a CA Recall
"I don't understand something I'm sure most of my listeners. Do but i don't larry elder and that is why does gavin newsom unlimited expenditures allowed. And you don't well. It's a little complicated. But if you wanna get on the ballot and have it. Three affects a five hundred word statement about you. You have to agree to Only spin nine point seven million dollars. you cannot have that bio description and raise unlimited amounts of money if you want But then nobody knows who you are. Johncock for example is able to spend unlimited amounts of money. He's a very wealthy guy and he did not sign that thing that limit him to the nine point seven but he's run for office before And so people know who he is and he didn't feel the need to do that but everybody else If they're gonna know anything about you you need to have the bio on the on the on the voting pamphlet. So that's what the condition is and the conditions that you do that you're you're limited to a certain amount of money to spend i contemplated not signing it And my staff my expert campaign people said. No they're not gonna be able to raise more than that. I think i will and look like dennis. I am going to. But i was a now handicapped because a decision that i made earlier.
In Don Lemon's World, January 6th Is Worse Than Just About Anything
"Don lemon with this officer. Harry done reveal what we have suspected all along. You think they're shifting. The blame shifting at least trying to shift the focus from what happened there. We can deal with many things in this country at the same time and if something happens it doesn't mean you go. Oh what about this. What about that. Can we focus on what happened on. January six where democracy was in jeopardy. We should be this. Is this just people who were who were exercising. Some of them were exercising. Their right to protest others went way too far. That's a different story than trying to undermine democracy and stop an election now. Let's analyze that for just a moment. Don lemon was talking about the black lives matter. Rioters and the protesters and tif All the the the terrible events we saw. After george floyd was killed. Some of them others he said went way too far. But that's a different story. He said then trying to undermine democracy and stop an election in other words in don lemon's world and i suspect in the world of a lot of people on the left. January six is a lot worse than shooting. Dead william dorn in saint louis a retired cop who is trying to protect his friends business from being burned down. that's a different story than trying to undermine democracy and stop election. that's worse that's worse january. Sixth is worse than building than than burning. Down buildings in assaulting people and throwing things and assaulting cops how many people died during the summer of love many
The Relentless Debate About Masks
"You tired of this relentless debate about masks about vaccines about the direction of the country. Yesterday tony foul. She was all played. A montage on yesterday's show of the the voice of leadership when it comes to covert and it was. It was a montage of his many contradictions but yesterday he went on his favourite network. Msnbc said the following the policy talking about is the masking in the sense of telling vaccinated people that even though two months ago sixty days ago the cdc came out with a recommendation that individuals who are vaccinated. Do not need to wear masks indoors or outdoors. Something has changed. And what has changed. Is the virus. The cdc hasn't changed. The cdc has really flip flopped. At all. what's happened. Is that when that earlier recommendation was made we were dealing predominantly with the alpha variant and the alpha verion when you look at individuals who are vaccinated that the level of virus in the nays of barons of vaccinating people might get a breakthrough infection that the level of virus was really very low indicating that it would be extremely unlikely that a vaccinated person who happened to get infected and that happens because the vaccine is certainly not one hundred percent effective. That would be very unlikely that they would transmit however now you're dealing with delta very which is really quite a lot more transmissible. Can you make sense out of that. You make sense out of any of that these. She hasn't flip flopped at all. He said we were dealing with the alpha variant. But now that we're with the delta variant the viruses. And i know that most americans right left or in between are accepting a word of that.
$1 Trillion Infrastructure Deal Clears Major Senate Hurdle
"Forward in the Senate Minority leader Mitch McConnell today says he also supports the infrastructure deal hammered out by the bipartisan group. Glad to see these discussions making progress. Was happy to vote to begin moving the Senate toward What ought to be a robust bipartisan floor process for legislation of this magnitude. But McConnell criticized efforts by Democrats to push other human infrastructure measures through the budget reconciliation package. This afternoon, President Biden expected to issue new requirements
Scott Robbins Sues Borgata for $1.25M Over Lifetime Ban
"Poker pro robbins sued the gotta for one point. Two five million dollars actually casino gave him a lifetime banff or what. He says we're jokes. He told the front desk clerk one checking into his hotel room. Conversation apparently beginning when the clerk gas robbins. If you wanted a room on a high floor or low-floor robbins made a series of comments about wanting to jump out of the hotel room window. Security made them undergo and pay for a psychological evaluation which robbins said. He passed by the hotel packed of his belongings and banned him nonetheless. You know. I don't know how to feel about this a lot about a lot on this show about that today but you know god it's crazy and then they make them go through all this stuff and then they still just say okay. You still got to go. I'm just a little confused by it. I don't know you know it's it's he said. She said kind of stuff right. But i've read a lot of the reactions from our friends on facebook about it and a lot of people agree with the borgata. I'm not falling for that you know that whole fallacy crap. Were you know. Add popular mortgage just because everyone says that's the way it should be. That's the way. I should think i'm going to think for myself on this and i you know how many times about i joked around. Or if i said. I got to do another episode of the show. I'm gonna open vein bleed myself a death in a tub you know but not really gonna do it. You're not going to ban me from the show and make me go through you know psychological evaluation right. I mean there's that side of it and then there's also hey you really shouldn't be talking like that in public people are going to. They don't and if they don't do anything and then you die. You kill yourself or something right whether you're joking. Yeah exactly. that's the difference between those two scenarios that you just mentioned right. Yeah so yeah. So i mean i i usually come down on the side of the business on these things because it's their business and You know the analogy. I use all the time. Is you know if If your friends ask you to take your shoes off before coming in their house. they're not censoring you. They're not telling you what to do. They're telling you what you need to do in their house. You know You wanna take your shoes off. You can go to your other friends house. That doesn't give a crap tracking right so so if you don't like what does then you don't go to the guy
Trish Regan Explains the Dangers of Biden Administration's Money Printing Policy
"So so. I'm not being devil's advocate. But i i need your your market and economic acumen here. This isn't a new thing. The drunken fed the drunken sailors on capitol hill. The the printing monopoly. Money isn't a biden phenomena. It seems like we've been doing this for decades. I it seems as if there's never you know the ferryman who's gonna take his deal at the end of the day. Is this not just a rubber band. That constantly stretches at at what point does break in one at some. So what does that look. What causes it to break. Okay so what is it to break is when the economy can't keep up with these inflationary prices anymore. When you start saying you know what. I don't think i'm going to get takeout from that indian restaurant because like the prices are insane when everything costs more which were getting closer and closer to while simultaneously wages nowhere and. I don't anticipate that wages are going to be going up. This is like the barack obama joe biden years all over again for eight years no economic growth less than two percent. Annualized growth said. That's what we saw. Well guess what the cost of housing went up. The cost of gas went up. I mean everyday living costs for americans. They went higher. Education cost healthcare costs. Everything became more expensive. But guess what nobody was making any more money. That's one of the things that you know. Nobody gives the trump administration credit enough for but when you look at median incomes under those four. Well three and a half years until cova you know really took the the bottom out from under but prior to kovin everyday americans were actually doing pretty well. They were doing much better. Because median incomes started to go higher and that we had not seen in years. So now we've got a situation where everything else is going to cost more and yet people aren't going to have as much money
Sebastien Gorka Slams AOC's Recount of What Happened on Jan. 6
"First let's just dwell a little on the question of yesterday's. I hearing of the select committee on the january. The six quote unquote insurrection. The first insurrection. In human history when no weapons were bought by the insurrectionists to the event. It's rather funny. It's like having a tea party with not. That wouldn't be a tea party in my opinion. But hey you gotta live in the crazy world of the democrats but the question is so i. It was death. Now it's rape what is it going to be next she was going to be beamed op into an alien spacecraft. Was the yeti gang to kidnapper and take her to his a mountain hideaway in the in the mountainous regions of nepal. It's theater it's all. She's a liar she's not even a democrat. She was elected a member of the democratic socialists of america yes desa. She was a member of the democrat socialists of america. That's why she cannot she simply refuses to denounce the communist regime in cuba instead. She says the people screaming for freedom for libertad undoing so because america has oppressed them with an embargo. We it because they're waving of flags. If you're if you're being oppressed by america maybe you won't you wouldn't actually wave our flag strange but that's afc's world
San Francisco 49ers' QB Trey Lance Signs Rookie Deal
"Trey lance in the forty niners have finalized his rookie deal. He signed a four year. Thirty four million dollar contract. That is fully guaranteed. They got the deal done just in time for camps open day. Kyle shanahan said yesterday. There's no open quarterback competition right now. Jimmy garoppolo is the starter and sri lance is his backup. Zach wilson is now the only unsigned first round pick.
"$1" Discussed on The Thriving Dentist Show
"As well now. I've also seen it done very comfortably. In three thousand square feet and eight opera tories with typically some overflow in fact that gives you some room to kinda take it from. There may be the next thing that you do. Is you bring in Part time specialists. Maybe we bring in an oral surgeon that works day a week in your practice or ended on us that works two or three days a month in your practice. So if you had three thousand square feet and eight opera tores you could be looking towards the future and not feel hamden By a smaller facility. Thank you Can this be done as a ppo. Practice the answer is yes it can be done. But beware of what you ask for. Beware of what you ask for. Because members three three million dollar collection practice you have to collect three million dollars and let me kind of explain how this might look if you do it as a ppo practice if you do this is a ppo practice. You're gonna un average. This is just very ballpark. Kind of anap kin pencil napkin. You're gonna have to produce one point five times what you collect one point five at least and that would assume about seventy five percent peo- involvement in your practice with maybe a forty two percent adjustment to insurance and the numbers could be a lot higher but that means in order to collect three million you're gonna have to produce four point five and then when i say beware of because and by the way the one point five is not a collections problem. It's an adjustment problem off. One point five force to write off one by a. Why in the world would you want to do it that way. Why would you wanna have to produce four point five point six four point seven to collect challenges you that would be higher because you expensive will be based on you. Having two point seven of eight million infect out model meinie not netflix..
"$1" Discussed on The Thriving Dentist Show
"So again narran. On three million dollars twenty percent eba is six hundred thousand dollars and the two together one million twenty thousand dollars one million twenty thousand dollars and and what would the associate make Let's assume a associate compensation at thirty percent. What would the associate mic analyst. He will make. I'll tell you the exact amount he would make a two hundred and forty one thousand two hundred dollars. That's right so you did sixty seven thousand sixty seven thousand. Yeah almost two hundred and fifty thousand dollars. Yes yes and what. If that could be done on three days a week you would have trouble attracting a quality associate. I don't think so absolutely you can attract quality ship to actually three days a week. And he has a good life here she. They have a three day workweek. Make about two hundred and fifty thousand dollars a year. don't have to deal with. Hr if the compressor breaks it's not their problem by the way the practice would provide other benefits like generous continue education budget so i don't think we'd have trouble finding associated that model. This also works for the team because that five day week narran can provide the team. The hours they need or want the hours that they need or what you think about that for just a minute And we're you know if a team member needs forty hours or wants forty hours a week. They can get forty hours a week. Across that five day schedule most dental team members would appreciate a four day week and we can provide those hours across that across the week and if we had some team members that that three days a week worked for them then. It could absolutely be done. You know meet meet those needs as well so this is a model that allows them to Meet meet their needs as well now. Let's break this down daily near this is where i think. It gets very very very realistic. So let's assume for a minute on the three. Let's let's assume that our listeners are accepting that they could do this in three days a week right okay. So we've got an average. There's a quick math equation to figure this out Three days a week times four weeks a month twelve and you multiply that by one point three so this would typically be done on a about Fifteen days a month or should. I did that wrong. i did that. Wrong it's It's it are you taking two weeks off for the. Are you calculating that they'll be more time off the net okay more time. I typically want the associated at least four weeks often the owner dentist. Dan morley six. So that means it's eight weeks right. Yeah so. I want you to figure out what that means in daily production. I did the math wrong earlier. It's why needed the mouth for me. Erin break it down and tell me what the owner doctor would need to produce on a daily.
"$1" Discussed on WGR 550 Sports Radio
"$1 million go to creditkarma dot com slash win money to sign up for free and have the chance to start winning instant karma. That's creditkarma dot com slash Win money. Instant karma sponsored by credit card, no purchase necessary exclusions in terms apply the rules. Banking services provided by SBB Bank Incorporated member FBI See Next balance transfer limits apply. A new book with Expedia don't have to go. Oh, yours like a great companion. The Expedia APP has your back throughout your journey because it matters who you travel with. Click to download today. These are the final seconds lead in the fourth. Can they hold on to it that do or die time and everything rides on one shot, But it isn't gonna be that easy and it's a one point game. This is down to the wild Try with three point attempt. One shot to take you to the top one. Winning. This is clutch basketball. That's the NBA playoffs. That's game reaction to the latest sports news, insights from the national experts and the info You need to bet on all of today's action. We call that wage entertainment bet you l shows are now streaming live morning, afternoon and night with coverage from across the worlds of sports and sports betting. Find out who's hot. Who's hurt and who can help you. Cash in the BET. QL Network features some of the biggest names in the game like Nick Costello's Ken Barkley. And more all new shows from Bet, QL streaming live right now on Odyssey. The only way you can take w gr sports radio 5 50 with you is the Odyssey app downloaded today.
"$1" Discussed on Z104
"$1 million go to creditkarma dot com slash win money to sign up for free and have the chance to start winning instant karma. That's creditkarma dot com slash Win money. Instant karma sponsored by credit card, no purchase necessary exclusion. The terms apply the rules. Banking services provided by SBB Bank Incorporated member FBI See Next one balance transfer limits apply. Are you ready? Here we go again. Hips start now. Nonstop Hampton Roads number one hit Music Station C one. Oh, four before you moved on really easily. You found a new girl and it only took a couple weeks. Remember when you said that you wanted to give me the world Good for you. I guess that you've been working on a shelf. I guess the therapist found for you. She really help Now you can be a better man for your brand new book. Girl. Oh, Topping me. Not be good for million Don't break. Oh, Look for you. I just getting everything you want. You got a new car, and your career is really taking off. It's like we never even happened, baby. Tell me what is up with die and come for you. It's like you never even met me. Remember when you swear to God I was the only person who ever got you will screw that. Screw you. You will never have to the way you know that I do. You look happy, not me. You do get good. Don't do with your baby. Really Okay? Yeah. Too emotional boot up Sees, like wounded salt. Maybe I'm too emotional. Oh, maybe you never. Katie may be on to National apathy is like wounded so Maybe on too much. No. Maybe you never feel happy. Help me, not me. You can't Don't wait up there without me, baby like a damn something your path. So I didn't really okay. Okay. I got Oh, for you. I guess you don't believe me. The hits play on Hampton Roads number one hit music station C 14. Sit there and say this is what you're doing. What you know where you at Where you Oh, you got plans. And I'll say that your dress sipping wives in a road trip.
"$1" Discussed on KGO 810
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"$1" Discussed on Vox's The Weeds
"Among the crowd that is also on their app. And what became you know. What what their community is saying. bets are which is not necessarily. It's it's a very zig with zig mentality and you can kind of understand a little bit looking at how the game stop stuff. Played out how that can be booth when it works out a very successful collective buying strategy and a very big liability for any individual trailer. Now i mean you definitely cede certain stocks and it's not just some of its wall street butts but even if you look at certain. Twitter accounts are tiktok like certain stocks. Start to kind of take off. Certain ideas in last summer hurts which had declared bankruptcy took off among the retail traders and there was a big hurts. Boom that made no sense because the company was bankrupt. So yeah i mean. Sometimes it doesn't make sense and maybe most of the time it doesn't make sense. But i think a lot of these people also i mean. They're there to make money but they're also like method. They're just having a good time on the internet. And then it'll be interesting to see how like sticky any of this remains right. I mean i. I've been using clubhouse more which also strikes me as like not a bad app or service but just like something. I would do less if it were more like zave to like. Go hang out with my friends. This is like a boom market in at home entertainment's that are a particularly just like ones that are new and like something new. You can try because everyone's a little bit stir crazy and for stocks also like the pandemic has coincided with this slightly odd phenomenon where like the market fell off a cliff last march but then has been on a kind of long steady upward march ever since then which is always like you ought to benchmark your trades against buy and hold strategy. But in your head. It's like anytime you're in the green light you're a winner And when the market is a whole is up. It's like everyone's a winner and it'll be interesting to see if it goes down because it's like real professionals keep making investments even during bear markets and. Try to do well. But like i personally which is. Find that to be a bummer. Like make make trades you lose less money than you would have lost. Had you just tell them index. I'm like that's not very entertaining. Even though like the economics of the same yeah. i mean. We'll see what happens when the market doesn't alert downturn but for right now it's like people are home in it as i don't know i as long as you're not playing with money you can't lose like i wish i can't treat on robin hood. I i really understand the appeal. It seems really fun. And maybe it'll never go down because we're going to build back better. it's just gonna be prophets for everybody. Maybe i'll right. Thanks so much. Emily thanks always a to our sponsors. Our producer of the winds will be back.
"$1" Discussed on Vox's The Weeds
"Research they said here says that demean mean investor average investor in robin hood is thirty one years old with an account balance between one thousand and five thousand dollars which like even compared to the the retail investors of the night. He's like never mind the kind of professionals but a data set is apparently decided a lot finance economics from the nineties. A hat is a mean age of fifty years old with a balance of forty seven thousand dollars so it really is. It does appear that robin hood in particular or the kind of subsequent waves of e trading have brought a group of people into the daily activity of the stock market who just never have been able to have access previously and so it it like that potentially even if you were just to think about in terms of the aggregate amount of information if you think of stock prices as information which is the way that classically their their thought about kind of widely the difference walla is bad. Why the difference in transaction cost. Not just like you are going to end up getting an asu surprise if you buy the stock for a you know if you if you purchase the stock for a higher price than you decided divide the stop for but also because it reflects a certain amount of uncertainty about the true value of the company you can see a world where it's just like the more data points we have the better and showing that those data points are making things much worse for everybody else. They're not like you know they're. They're not distorting the market in ways that make it harder to figure out what's going on but they are things that should be kind of ignored if you're looking to assess the true value of something by stop race. I mean i do think it's important to at least say that. It's not bad that people are trading more at least in my view. And maybe i'm too market-friendly. But when i think about this i think that my initial reaction to robin hood was there game. Fine trading they're making it too easy. They're pushing people into bad things and certainly there. There's some truth to that. They are pushing people a little bit more towards risk than maybe as ideal but it is hard to say. These kinds of things should only be for institutions for wealthy people. And so when. I hear like yes. Okay in the nineties. It was people in their fifties now people in their thirty s. why not. it's also really hard to build wealth here and like if you have a couple thousand dollars to spend that you can't afford to lose which i think is important caveat. They're like why not give it a go comes to worse. You get wiped out in a lot of people do like last year. I did a story on this. And i heard the same story over and over. Which was i got really an options trading. I thought it was a genius. And i lost all of my money and that happens often but then every once in a while you talk to somebody who like genuinely has made some money now you hear a lot more about people losing a lot of money as well and probably more but i do think that the retail traders are here to stay there like twenty percent of the market volume nil on sundays. And that's why well. I think it's you know when you're talking about like should people do this. It depends like what you're considering the counter factual to be right. So like if you're trying to save money and you considering should i buy and hold index funds or should. I try to pick stocks robinhood trying to pick stocks. Robin hood is a poor choice on the other hand. If you're saying. Should i try to pick stocks on robin hood or should i go to a casino and try to do You know like a smart guy. And i know math and i can calculate things so to try to implement optimal blackjack betting strategy right like you're probably better off doing the stock day right now. The casino might be more fun but the thing also might be more like it. Just it's it's a matter of personal taste and different people enjoy different things. I think we understand that. Like in most cases going to the casino. Even if you try to be really rigorous and disciplined about it is not like a good way to make money but it is a fun thing you can do with money that offers the possibility that you will come away with more money than you had before is like part of what is entertaining about it. Right like trying to do options trades that work like that. That's fun like you might enjoy researching right. Like people do a lot of stuff with their time like might. My dad used like meticulously. Keep score baseball games that he watched baseball game. You go and like. I don't know like people just like stuff right and you know trying to like track different stock opportunities and price movements like you can see how it's appealing to people right and like as a thing to do with your time and your money like i can think of many worse things to do but it would be bad. I think to decide that this is like a great strategy to make sure you can have a secure retirement thirty years in the future Because you probably can't. I invested. I invested in i hop stock. 'cause i'm i'm looking forward to pancakes after the pandemic i mean is fun even last summer. I did like a fake trading account. When i was reporting on this on robin hood and i made a paper trading account and i just guessed based on songs on wall street beds and i like triple my fake money which i guess we're in a bull market which is why a lot of people living they are. They're investing geniuses right now. Maybe are not by like had. I've entertained. I mean i feel entertained by my own like fake success. I answered you wanna come back to the paper a little bit just to talk about wall street bets in particular because they use discussion of a stock on wall street bets as like an indication of whether it's of interest to the kind of robinhood trading class which initially i was like okay. You're kind of reaching for the nearest available variable. This isn't necessarily go to flesh but they demonstrate that actually is there is a demonstrated correlation between not only like when robin hood is working correlation between stocks getting mentioned on the sub reddit and activity on the app. But a when robin hood is down. There's a lot more discussion of robinhood street which suggests that like people who would otherwise be spending time. Trading on robin hood are taking wall street bets to express their frustration that they can't be trading on robin so it's interesting that lake an app that has such a wide pickup is associated with a single fairly. You're off the beaten path community like you do have to do a certain amount of active searching to find a sub reddit Unless you know somebody who who happens to be weapons to be involved but it also does indicate kind of coming back to the question of like matt saying you know everybody knows a little bit about the economy it does say something about how people are making their decisions not necessarily based on like looking at the places where they individually have the most expertise in lending knowledge but trying to do a wisdom of crowds sing among the crowd that is also on their app. And what became you know. What what their community is saying. bets are which is not necessarily..
"$1" Discussed on Vox's The Weeds
"Individual investors high frequency traders and stock market quality by gregory eaton clifton green brian roseman and yapping woo sorry i mispronounced that and basically it kind of gets at this question that at least i've had for a while and a lot of people which is these robinhood traders right. These people individual investors on the market. How much do they matter like. What is the difference. They are making obviously games off these other. Make a difference but like what is the difference and so basically it comes to a handful of conclusions it kind of figures out that what the robinhood traders are doing what they're buying and selling doesn't really predict whether or not the stock is a good idea kind of things that they are noise which is kind of like guessing they're trades. I guess in a way to think about that way and it also finds that when they are not in the market volatility goes down in the market is kind of better market. Quality improves at least for the stocks that they're interested in and now the funny thing about this. That matt levine from bloomberg flagged also. Is that the way that these researchers figure this out is that they looked at outages for robin hood. Robin who's an app that that crashes a lot and so they were able to tend to make these deductions because the app itself doesn't work so well. Can you talk through a little bit. How they're measuring market quality here. Because i admit. I tried with this safer and the extent to which finance economists that you are familiar with everything. They're talking about is really unusual economics. White papers that cover on the weeds. 'cause it's not like they're not making independent assessment of like you know whether this was a good investment or like subsequent looking at subsequent stock performance and going like oh they like captured excess. Gains here right. It's like it's based on an existing measure that ties quality to acquitted. While i talked to one of the authors about this a couple of weeks ago because i was like i need you to dumb this down for me. Honestly what he said was basically like volatility is down the stocks that they're interested in so the whole stock market. But if you follow these new wall street bats which was the right for robin hood like certain stocks are popular with them. Certain stocks are not so you can kind of see and also the transaction costs are better so basically the price you're going to get between when you're buying and selling a little bit better so basically like when you hear all of these guys on cnbc being like the retail traders arava who guys suck like. Maybe there is a a monetary reason for them to be saying that. I don't know if they're right. But you never know so. I mean just to sort of upright if people don't know the full context robin hood is like it's an app on your phone and a lot of staff is been happening because like phones are cool at and good app design as good a but traditionally to trade stocks right. You've had to pay commissions to stockbrokers right and those commissions used to be really high like in a in a traditional brokerage and the broker would make a lot of money just off the fact that you are making traits but that's also like a strong disincentive to actually train stocks. Right like you might make some investments but like if you buy and sell stocks frequently. You're going to lose money. Just because you're you're paying fees part of the internet and financial regulation from the late ninety s was to create places like charles schwab has one with the fees are much lower and so it becomes practical for a normal person to make shorter term kind of bets stock market. Like i'm not saying it's advisable in theory. You could make money With shorter term kind of trades with lower commissions. Robin hood has come in. And it's no commission at all They are making money. It seems like a lot of things on the internet like they are selling data about you To make money than charging you as customer so that creates this opportunity for like random people sitting in their living room to act like to act like high frequency traders. Because those are very very very fast. But like you could make profitable trades based star day to day movements in in the stock market. There this a big question is like like is that good right like like what are what are the implications of that for society because you could be utopian about it right and say look this huge mass of people. Everybody knows a little bit about the economy right. It's like you workplaces. You have friends and so we are aggregating information. Even more efficiently than the old market dominated by professionals at this influx of amateurs is creating more efficient pricing structures. And they're finding that that is not the case that like somebody may be making informed. Stock trades on this basis but like in the aggregate. It's just noise like it's just a bunch of people operating at random and it doesn't provide any Like price discovery value. Why that's important is like a whole other theoretical topic but like in the finance world if you could show that like bringing all these random does into the stock market was improving price discovery. People say. Oh that's good like our capital. Markets are working better now than they used to be and the final here that that is not the case. It's worth i mean like you can tell from the common sense narrative like how you can you can logically predict how that might have the number of people who feel like now capable of getting into higher frequency trading. They actually do site. y- Research on robin hood from twenty nineteen so like even pre pandemic which is when we know a lot of kind of people who had not previously thought about stock trading started getting onto that app the two thousand nineteen research they said here says that demean mean investor average investor in robin hood is thirty one years old with an account balance between one thousand and five thousand dollars.
"$1" Discussed on Vox's The Weeds
"Say you need to have a system. That's built for the times when people through. No fault of their own are gonna fall into unemployment not funded at a level that you associate with well. We kind of want to discourage people from using this anyway for social engineering reasons but dishes you know i think beyond questions of like deserving undeserving poor kind of stuff like there are some topics where the gulf between like vite of center economists and left of center. Economists is really big and this is one of those topics like right at center. Economists really really really think that it exacerbates recessions to make unemployment benefits more generous during economic downturns. They think that there's substantial Real side adjustments that need to be made during downturns that things that make it easier for people to avoid making. Those adjustments are very counter productive at like there was a really telling us about internet drama but it was like jordan weisman slates economics writer. He was making fun of marty feldstein. Who was a long time Economist in the reagan administration at harvard. For like having these worries and then tyler cowen who is one of the big conservative economics writers like went back against georgia like this is like such a horror like real belief On the right the pandemic partially alleviated that because there was a sense briefly that okay. This is a public health emergency and we don't actually want people doing like really intense job effort and that's how this kind of bonus unemployment insurance got done in the first place but even now and a particularly like thinking about the future you know you're back to just this like really no meeting of the minds like i said i'm see issues. I think look like if everybody can sort of be reasonable and stop the posturing and the b s like you could work out a compromise that achieves like sane people's core objectives but like this is one where it's like day and night as to like how to recessions work and like what's important for people and it feels really kind of Almost hopeless to me. And then the other thing i've learned through this is how much members of congress embrace legislating by crisis right so like this. Bill includes stuff like e. It's not just that it doesn't include automatic stabilisers but includes things like the biden enhanced channels tax credit and these stepped up subsidies for the affordable care act which are clearly intended to be permanent changes but they are structured as challenges. Then if you ask them it's like what's going on here. They're like well already. We once a year have a huge legislative crisis around it's called the tax extenders but like a bunch of business side tax credits and way back in two thousand nine. The obama administration hassling a as part of the two thousand nine stimulus. The making work pay tax credit which was a at cat see enhancement and that was a two year program but it still with us all these years later and they see that as a big success right like that's a model for legislating. Going forward is to put weird shit in there that they wanna make permanent that they don't want to raise taxes to offset because they think interest rates are low but blue dogs. Don't want to embrace deficit spending so everyone prefers to do this weird can-kicking game which is like look it's terrible like you. I i think if you try to even just people explaining it to me. I wanna like punch like it's such a terrible way to run the government But like i. It's a huge subtext. I think to what's going on in this bill right. Is that instead of saying okay. We're going to take one point nine trillion dollars. We're gonna use that money to address this downturn. We're going address. It in a smart way which evolves automatically and things like that. It's like we've got this one point nine trillion dollar number so we're gonna just like put a bunch of stuff in there. Some of which we think is necessary for the short term and some of which is just like stuff we wanna do. And we don't want a budget for in the out years and then we're going like hope. Good things happen in some unknown future. Political cluster classified. So it's like nobody's gonna know like are their child benefits going to go away is their healthcare gonna triple and costs like it's it's weird. It really is wild. The extent to which the arguments on regulation on really either side are based on the importance of like businesses being able to budget for future compliance costs. And that doesn't come into act when we're talking about how people who are using government support to provide some degree of financial security for their households. Like whether they are whether they should be able to have any kind of confidence things going forward. Yeah like obviously. You're not made worse off. Get an extra a subsidy for two years and then it goes away. You would rather have that than have not go but like it's still crazy. It's like you're sitting there with your household budget. It's like well. How like can we afford to rent a different house. And it's like well i don't know right if you're if you're going to get the aca subsidy subsidy anyway. It would be helpful for no gain and the child tax credit. All this stuff especially as is want procrastinate all the time and sometimes you can see the negative effects of this if you looping back to unemployment at the end of the year everybody procrastinated so much in december around that nine hundred billion dollar bill that a lot of states unemployment systems were screwed up and people had delays anyway because it just takes time to do stuff and so it makes i mean it's just like the inability to plan around. The government is a wild feature of america and the members profess to be annoyed at how little they do but then they themselves don't do very much it's a it's a frustrating is frustrating situation to be. I wish we saw this in the confirmation hearings for merrick garland at like ben. Sasse randomly was like how come the legislative branch has abdicated. All thirty and you know mayor garland like us minute. Judge all these years his answers. It's like i don't know but it's like what is ben sasse done in the past four years. It's been senate like literally nothing. I think there's no. There's no sass bill. One could argue that asking someone who's going from the judicial branch to the executive branch. Why be legislative branch seated so much power to people like you is to beg the question right right right and maybe an this is like this. Congress is acting here but you can see even so right they. They act like people who don't want to be relied on as like the mainstay of anything. i find it discouraging. Let's take a second break. Let's talk about some research support for the following passion comes from lexus celebrating the obsessions. That drive us go all in from enthusiasts of all different spaces. I'm.
"$1" Discussed on Vox's The Weeds
"For people who you know are are sort of in the thick of things now. I mean we talked about some of the kind of indirect staff and an aid to people. But what what should you expect directly like is ever going to get their their fourteen hundred dollars like next week really really soon. Can we stop having. Where's my check twitter. What's going on. Whereas i check. Twitter will never die because they're not going to be two thousand dollar checks though and inform you that out to former box writer jeff stein. Who is the person who is going to continue to get us where his checks are so we will i mean. I don't think it'll be next week. That will see the checks but the fourteen hundred dollar checks are in this. Bill and i would have a hard time believing that they will go anywhere. They given everything they Are for anyone who up to seventy five thousand dollars phase out around one hundred thousand. There is also unemployment insurance in here which is much as everybody likes to talk about the tax which are important unemployment insurance. Maybe more important what that is probably going to look like is an additional four hundred dollars a week in federal benefits for unemployed workers. Right now. they're getting three hundred through march fourteenth. The house bill as it stands would extend the four hundred dollars through august. Twenty ninth now. If you think back to biden's proposal his initial thing in january he wanted it through september. So there's a month being shaved off their that. It's not quite clear yet. If it's going to be put back on or not Widening in the senate has sort of hinted he would like to see that extra month back in there. But i don't know what's going to happen there. It's interesting though. Because i mean the the sort of public health time line you know seems optimistic in terms of vaccines will be broadly available. Things like that. Like my official position is that there should be automatic city and that the should be conditions based rather than house members guessing. But like as far as guests just doesn't seem like a terrible guest to me. Unlike the march deadline was in the last bill which was like totally obviously inadequate at the time they passed it and everyone was just like well. You know we're going to have to do another bill. It's interesting that it's described. I realized i saw some Survey experiments and it sounds a lot lower to people when you say four hundred dollars a week then when you say like sixteen hundred dollars a month even though those are the same amount of money which which is interesting but like i do think that people have consistently underestimated throughout this pandemic like how large the increase in unemployment insurance benefits has been like. That's why these bills have such large top line. Numbers like this is a big expansion of kind of typically threadbare sort of program. And it's it's gonna be interesting when it goes away because like probably unemployment insurance should be more generous on a on an ongoing basis. Yeah i mean. I don't know of any of these either. You've been on unemployment. But a few years ago i was laid off and i got my first check and i was like. Why are you. Guys jokingly city. What do you think i'm gonna do here and so. I do hope that this does spark a conversation about what unemployment insurance should look like in the future if you think of massachusetts. The average benefits are like five hundred fifty dollars in mississippi. Like two hundred. And it shouldn't be that way. And i think we've seen with this. It really has made a difference for people where you are unemployed. You're looking for a job. Let's be honest right now. There aren't a lot of jobs and they can actually live their lives. Some people have been able to save more. And i have a hard time thinking that it's bad now like on this bill. A really wish. They would put in the automatic stabilisers. And i know matt. You hinted that. But i like. I just don't understand why we're not doing that. Basically what that would do would be to phase out benefits as the economy gets better and you could have different measures whether it's the unemployment rate or maybe back scenes but that just seems like such a better way to phase out unemployment benefits than just literally guessing when the pandemic will be done. Because there's a world where you could phase them out earlier but at the very least you're not setting people up for like a random cliff sometime in the summer. So as long as we're thinking about you know reworking unemployment. It does seem like this is another issue where the federal government has the money lever but so much of this is up to the discretion of state governments. Whether that's you know like levels of benefits or certainly the way that it. How much investment is put into making the system. Easy for people to navigate which lake certainly in the early months of the pandemic everywhere had horror stories about just how impossible. It was given the repeatedly of the job loss for people to actually be assured that they were enrolled. Run employment at all. and you know. I wonder if we're talking about this kind of automatic stabiliser like if we're aware that policy-wise sometimes job losses happen more quickly than congress legislate of bumping unemployment insurance like ease. There may be an analogous case to be made for the states need to be able to manage unemployment benefits system. That is serving many more people than they expect to serve in normal times because either they're going to serve. The normal number of people are going to need to serve way more and in the latter case is really be able to just have those checks going out on a regular basis. I do think ideal world we would have a federal this job like you talk to experts on this. We should just be federally social security right but there is a sense at least back in march and april of last year where even the best system was going to be completely overwhelmed. There sony people calling like no. There's no reason to have to be able to staff up that much in normal times and we should be talking about how to at least incentivize states to be better at this so that the system isn't so much that like we make it impossible for you obviously at some point you're just going to give up for the benefit there so bad the obviously you're just not gonna try anymore. The problem is a think at least in part in normal times nobody thinks about this like back in the great recession a lot of lessons were learned and then everybody forgot and so now. It's like oh we should do this. We should do this and then in in a year. Who if things are back to normal the political impetus dies down again right. I don't think even it's a nobody is thinking about this. I think in normal times. This is seen as a safety. Net programs are seeing especially by conservatives in state government where they have to keep balanced budgets as like a an easy way to cut program costs. You don't want you certainly you don't want to be spending too much money on the quote unquote undeserving orrin. You certainly don't want to be spending too much money on. The government workers are supposed to be helping those people. And you know the way that that kind of flickers in and out in exceptional times is the last march and april. Nobody was saying that if you lost your job is because you deserved it right with. Those are the times when it becomes very apparent that people lose their jobs for reasons other than being on fit for the job market and that kind of discontinuity is it does seem like in a world where everyone was pretty comfortable with the direct two thousand dollar check benefit that leg and a world where people really have been sensitive to the impact on the job market of the pandemic crash. That may be. It would be a little more possible to connect those dots..
"$1" Discussed on Vox's The Weeds
"To what extent is this just like a reflection of the broader fact that congress can throw money at things very easily. Especially when you're talking about such large quantities for kind of the total sticker price of the package that is in cases like education and particularly the thing that they can do right like An with state local governments as well. They can't require that states. Provide more generous unemployment benefits over and above. They can't require that states. Be like to a certain extent aggressive in demanding mask mandates indoor dining bands and that kind of thing to a certain extent it seems like this is a reflection of democrats want to see a world in which there is enough money for schools in slow getting prioritized and there's less pressure on consumers to keep the economy going by continuing to patronize businesses. In a way that may not be epidemiologically save and therefore the things that they can do our throw the money that would be needed at it to make. That happen. Partially is a like okay. It's then governor's folded. They don't do it but also just as a way to kind of express. This is the way we think the pandemic should be dealt with and we can now go back to our district and say we've done what we can't yeah and yesterday i was talking to an economist about this and we got a little bit into the state and local stuff in what she said was in an ideal world. This money would probably be spent slower. There would be mechanisms in this belt. Have states spend the money a little bit slower than they probably are going to and she said you know obviously some states are going to do tax cuts and and that's just kind of the world that we need to live in as somebody who lives in in a blue state that needs some money. I'm kind of like whatever. I find doodoo tax cut somewhere like that is okay and maybe it would be better to do it. More targeted and there is a certain level of targeting. Here right states have more unemployed people are going to get more money seats. Have more people are going to get more money. But you have to figure. Can't get rid of the good for the perfect. Or whatever the thing well and i do think it's relevant right that the speaker of the house represents san francisco and the majority leader in the senate is from new york. The city of san francisco is in pretty serious. Sort of budgetary issue as new york state. It's not the case that like systematically places democrats are from our in budget trouble and places. Republicans are from aren't like florida is actually quite a lot of trouble. Because they have tourism economy california writ large has a budget surplus because of people doing their peos and stuff like that But like nancy pelosi's district needs state and local financial assistance. And i feel like that's probably you know like ends up shaping right like as as you were saying emily right. It's like to do what you need to do to get the help to the places that need the help they've wound up spread some more cash around than his is maybe totally needed But so what what else. What else do they have cooking here. There's like some stuff to the affordable care act. It looks to me. Like biden campaigned saying that. He wanted to build on obamacare and the house kind of does that in this bill increases the subsidy levels things like that As our colleague. Don scott has done a lot of work on this in basically. It looks like what's going on. Is that the bill will increase subsidies on ach for people up to four hundred percent of the poverty level for a couple of years. And so i think the question there is it just two years does it last longer. Does congress find a way to do this for longer but at least for right now for twenty twenty one and twenty twenty do There's some coverage and there's also stuff in here related to helping people subsidies for cobra so people. When they lose their jobs. It can be really expensive to healthcare all of a sudden when you quit your job or whatever and so that also puts some money towards god. Where is the line been drawn in terms of like the stuff that easy super duper directly related to the pandemic or like things that democrats would have wanted to do before march twenty in lake. Don't have an obvious pandemic hook for like the aca kinds of things like yes. Of course make the argument that it's more important now than ever but like you can make that argument for anything where democrats ended up drawing the line between stuff that they can put into this bill without creating much of a problem and stuff. That's kind of a nice to have like. There was clearly very little appetite at the beginning of this process. Bernie sanders kind of agitating for it for putting a minimum wage. Increase into the copay package. Like where's where's the line drawn between things that they think they can cells being directly tied to getting the economy back on track and things that are part of maybe the broader build back better agenda that they're saving for second breakfast or whatever. I mean it feels to me that the answer. Here's a fifteen dollars minimum wage and that's an answer. We should probably have relatively soon. But that's the one where like this democratic priority. But not necessarily as much as i may be as a human being would want a fifteen dollars minimum wage. I don't know that that's specifically covert related at all and that's kind of where we are. Now i think that also kind of is like our congressional democrats worry because they don't think they can make that case or is there also kind of a certain concern about the politics or policy of it on merits and this is just kind of becoming a punt by people who would like to run out the clock entirely met. You might know more than me. But i would guess at least part of the issue is that nobody's quite sure what this will mean economically. Even the cbo says it might cost jobs now. You can look at that and say nine hundred thousand people out of poverty is is good even if that means fewer jobs But we don't really know there. Aren't that many places that have done a fifteen dollars. Minimum wage certainly not for a long time and so there is some neither that probably makes some democrats a little bit wary and just regular people. I mean dish. There's a two things going on with the fifty dollars. Our minimum wage. In in this one is the procedural question of can bernie sanders talk the parliamentarian into the view that this is budgetary measure I've gone back and forth on that. Like four different times as since since election day. I am now of the view. As as joe biden says that the parliamentarian will say no did this goes back to when republicans wanted to repeal the a c. a mandate and the parliamentarian said. They could not do that. That that was not a budgetary measure so then they came back and they said okay instead of repealing it. We are going to reduce the fine two zero dollars and the parliamentarian said that was okay So that indicates that the parliamentary and is very literal minded about right. Yes yes. I am a way that makes no sense. And this wound up becoming like a huge national drama because that became the basis for litigation supreme court cases it was like the highlight of imi. Connie barrett's confirmation hearings etcetera etcetera etcetera. It seems to me. That given that precedent if senator sanders truly truly truly wanted to force the issue on this he would not have put a fifteen dollars an hour minimum wage into this..
"$1" Discussed on Crystal's Nightcap
"So he was able to get four of those boxes for a dollar and he was so happy with that. So senators popping those everywhere I'm like, okay, we're lightly. Where we're kind of thrown garbage littering out here in our streets. But nonetheless, it was really it was a great evening. It was a great early afternoon. So we did that for the first part and then the second part we came home around four and then hit my cousins who live in Fairfield come on over. So I went to my house my. House over there and fearful just like forty five minutes. Fifty minutes away from us in Oakland and yeah, it was a good ole time hanging out the family and it was a good weekend I mean who needs. Who needs friends right when you got your family that's why I'm very lucky that I have a big family. Cousins over because parents aren't a town. They're not here. So I I can't hang out with them and bother them usually I like taking off my grandma Grandpa mom and dad and the baby in a seven in June on Sundays we like to hang out on Sundays but my parents are out of town. So that's what that was. That was my weekend y'all hope that you had a great weekend with whatever you did and you have to relax and have some me time Yeah that's. What was going on with me? So the rest of the week four crystals nightcap, I'm talking about a lot of fun stuff some boys stuff's talked to bow some dating and dating stuff So it's GONNA be. It's GonNa be a good next few episodes. Trust me you. there. It is another episode of crystals nightcap things so much hanging out with me and please subscribe if you haven't shared the podcast if you are a liking wherever you're listening already subscribe. All, the stories that are today for sharing the are up lack crystal Rosa's DOT com. I'm looking for a graphic designer I'm looking for a graphic designer for a logo that I need done I asked twitter and I'm getting a whole bunch of catfish is I I wanted a female graphic designer preferably from the babe. Because I feel like we need a female graphic designers and it on because I feel like there's a lot of male graphic designers and I definitely WanNa work with a female one I worked with a few more graphic designers here and there and I need low done. So if you know any female graphic designers, we know because I solicited to twitter and I'm getting helicopter fish I'm getting a whole but you so I got this girl right and her profile picture she looks like a black woman like a young black woman so I'm Mike in talks with her Turns out that this person gave me a of an mo or people the name was just..
"$1" Discussed on Crystal's Nightcap
"So we did that and there are walking around the little stores around fisherman's warf and there's the Gumbo machine. The the duck wants I think since I've been little dumbbells have been twenty five cents. So bought a bang, he gets three of them one for me one fibro junior and one for him. So, then I find some sunglasses I want. So I just by those eight dollars actually if. Cheap Q. Different sunglasses like some fun ones. But also like trendy look in different ones. I love gas station sunglasses, and I love just like going to stores have. Kind of like ratchet stores that had those sunglasses on the spinning thing I love those and in San Francisco had really really cool ones like all those little stores by fisherman's warf. So I got a really cute. Let we good quality pair a fund glasses for eight dollars. So that's what I would suggest that you guys do because you know sunglasses like they'd be so expensive and we'd be breaking them and it's just best to just get the cheap like the cheaper ones like the cheap gas station ones those are my that's my skis like whenever you guys see me sunglasses. I've most the most repaid myself for a pair of sunglasses has recently been a pair of sunglasses, a warrant, a music video, and those are from guests and those were like fifty bucks but other than that I, have never paid more than. Twenty five dollars for a pair of that's even a lot for me. But I WANNA pay like fifteen maybe twenty for a pair of sunglasses because like I said a break usually pretty cheaply made and Blah Blah Blah I like one nice pair of designer sunglasses. You guys know that the the chanels that my friend me in New York City and those I mean, those are my babies. I take those what I want to boozy but other than that. Yeah. I'm wearing I'm wearing cheap sunglasses trust me you. So did that and then we got food at a clam chowder plays right there on fisherman's worth..
"$1" Discussed on Crystal's Nightcap
"But the most centered people and people who successful are those who don't doubt who are led by faith and? You Know God gave Connie the power of ego right and that catapulted him into his start of fame and the music business, and now he wants to use faith since he's getting closer to God, to just do everything that he wants to do and I, I think he can and I think you can and I think I can and I think if we instill a little bit more of that into our hearts in everyday life of just Being more optimistic and being. Like having more faith in ourselves and the people around us we can. We can do whatever the heck we want. We can do whatever the heck we want to ask on a period so. That that's on that. Now, let's talk about this model. Her name is Emily Radha. Jakubowski at while of said that I think kind of right Rudder Jakubowski. Yeah I li- we did that is that like Jakubowski at Polish or I. Don't know what that is but. She's making because her and her husband are pregnant. They have pregnancy underway, and recently she was on the virtual cover of vogue and end the cover she said that her husband or not going to know the gender of their baby until the baby is. Old and so I think for a lot of us were like, Whoa, that's crazy like what does that even mean and she said that basically she when she found out, she was pregnant she wanted to have a girl and she's like credit feel weird about that I kind of feel weird about wanting a girl like what does that mean? and. Then she decided to say. She wrote an open letter in Vogue issue this virtual vogue issues she said when my husband and I tell friends and I'm pregnant their first questions after congratulations is almost always do you know what you want? We like to respond that we don't know the gender until our child is eighteen and that they'll let us know then everyone just laughs at us. WHOA, she continues to say there is a truth to our line though one that hints at possibilities that are much more complex that whatever didn't tell Ya our child might be born with the truth that we ultimately have no idea who rather than what is growing inside my body? Who will this person be kind of person? Will they become parents to how will they change our lives and who we are this is. A wondrous and terrifying concept one that renders both helpless in humble. I prefer the idea of forcing as few gender stereotypes on my child is possible but no matter how progressive I may hope to be I understand the desire to know the gender of our fetus. If feels like the first real opportunity to glimpse who they might be as my body changes bizarre unfamiliar ways it's it's comforting to obtain any information that might. Make what's coming feel more real sea I..
"$1" Discussed on Crystal's Nightcap
"Hello to your beautiful cheek Chinchilla, crystal size back with another episode of crystals. nightcap tonight Connie was has been interviewed this actress Emily Rod had Joe Ski says, she won't know the gender of hurricane until they're eighteen years old and where I went this weekend. Sit Back Relax. It's crystals nightcap. And Happy Monday and welcome to another episode of. NIGHTCAP you I am just realizing these podcasts are getting. So long like fifty minute like who has time for this please if you guys would like me to just short at the F. Down because we went from like fifteen minutes to like thirty and then I was in forty, five and fifty. You know I could be talking and talking and talking and talking if you want me to cut down, please just please D- that they're getting too long and I will. Cut them down more. But you let me know you'll let me know. But they give being here for another episode of Crystals nightcap subscribe. To The podcast with your friends if you're really liking it all the stuff that I don't get to in more up lab crystal, Rosa's that's a calm. I'm live and while the new for nine right here in safest go on your radio or on the free iheartradio APP also on a multiple markets across the country. So if you want to see which ones check out my social and everything I'm at La Crystal Rose says we have our own I G it's crystals, NYC cab where almost thousand followers you love to see it please really rate my podcast, five stars and. Leave a nice little comma helps me out to get my name on algorithm all righty then. Hope that you had a great weekend hope that you are relaxed from the weekend hope that you having a good Monday and if not, then let's make tomorrow better. Let's do try to figure out how we can do that. If you need help me on snap on everything. Alex Soto Saas Okay. Now, we're going to check in with poppy, Dad's doing. That was a weekend blindly lies while ninety four, nine crystal rose. I show. There you go I. Miss You poppy how San Diego Crystal Right. Now, we are in the city of highway read about two minutes from Penn Bego my God. ooh Sign. What are you GonNa? Do we're about to have pizza? Say Hi to Your Godfather e mail. And your field, the high deals. Thank you for babysitting. So no we have the privilege of having your over. He's a little too loud sometimes though, right. I've just getting by puppy. Okay make us house. Good. We'll have y'all..
"$1" Discussed on The Journal.
"One to Sastre after another Senator Elizabeth Warren has faced face tough crowds but it was a roomful of Sunday school kids that almost broke her I had no control over what was going on they cut each other's hair they cut each other's clothes the boys boys climbed out the window join us on Elizabeth Warren Sun Porch to hear about the day she proposed to her husband or collection of haunted dolls and the Republican senator who says she's the toughest teacher sure he ever had was on Tuesdays on spotify or wherever you get your podcasts wants the Vision Fund raised its one hundred billion dollars it started spending the money quickly they spent a billion dollars a week their first year a week they had one hundred billion dollars the plan they were telling investors was to spend it over four or five years and then kind of recoup the gains of the next I five or seven years they spent it into most venture capital firms right pretty small checks they tend to do a lot of diligence they want to keep their portfolio of companies small and very curated and the one real estate investing is never give a founder more money than they know what to do with because they'll do stupid things with it that capital while companies need it can actually be a curse if they have too much of it because you lose some of the discipline Softbank famously does not write checks less than one hundred million dollars the companies companies that Softbank makes those one hundred million dollar checks out to tend to be the ones that soft bank's CEO Masayoshi Sun is most excited about those are usually attack companies with the potential to become UNICORNS and people within the Vision Fund quickly realized certain techniques they could use to convince Masan about which companies to invest in Moscow has a very broad definition of what a tech company is and what my colleague Bradley Hoping I found in our reporting was that the the investors at the Vision Fund have found some kind of work around some buzzy tech ways to get Masa sign off on things one of them is he'll ask if a company has was called demand pricing so that's you know like when you get an uber and it's raining and they charge you more yeah yeah the ability to charge certain customers moral based on demand and the thinking is that that should reflect some artificial intelligence under the hood and it's enough for them to think yes at a tech company people internally picked up on that and he thought work that into the MM sales pitch essentially I should say a spokesman for the Vision Fund said that they extensive due-diligence they meet with founders have group presentations and that they ultimately invest in a very small percentage of companies that come to them for money what about in terms of how the investment teams within the Vision Fund sort of get along with one another are reporting show there was not a lot of structure people were not particularly staying in their own lanes we would hear stories from current and former executives of the Vision Fund and entrepreneurs ars that they were investing in founders who've been turned down by one group at the Fund only to go to another one and start talking about another deal so they would basically play people inside inside of the Vision Fund off of each other one person say we're no we're not going to invest and they would just go to somebody else and there is so little coordination communication inside the fund that people didn't know and that created created some tensions as the fun kind of scaled up so there's all this dysfunction there's all this tension management sees it and last year they brought an outside consultant to interview.
"$1" Discussed on The Journal.
"About three years ago the industry that loves disrupting saw some major disruption also these guys showed up at one hundred billion dollars to do venture investing where do they come from who are they these new guys entering Silicon Valley we're from something called the Vision Fund of Venture Capital Funds started by a Japanese company called Softbank and they had a lot of money to invest in startups last year all of the US venture capital funds combined had fifty fifty five billion dollars this one fund had almost twice that one hundred billion dollars immediately the Vision Fund started pouring billions of dollars into startups Uber Door Dash we work slack some of the biggest out there and every dollar the fund invested was a bet on the future of these companies that they would change the world sheer optimism is like built into the foundation of the Vision Fund Fund and it works really well when things are going up but now this fund built on optimism is meeting reality. Some of the company's Company's investments aren't performing there are divisions inside the organization in all of this poses a risk a risk for the investors as for the startups that took the Vision Fund money and for the broader economy today on the show the strife inside the Vision Fund and the most influential investing fund in the warm welcome to the journal our show about money business and power I'm Caitlin bought in Time Ryan Knutson it's Monday November fourth everything everything about the Vision Fund is Weird once you understand that it all starts to make a lot more set whatever you're imagining is like a traditional venture fund or Investing Fund just like throw it out the window now almost none of those rules apply here Lizard Hoffman covers finance and has been reporting on the recent troubles at the Vision Fund and the weirdness of this fund begins with Viz initial ambition the idea is the brainchild of soft bank CEO Masayoshi son his whole idea was to take softbank this sort of creaky old Japanese Japanese telecommunications company and turn it into like the Warren Buffett of technology so it had this this stable of companies are all going to change the World Masan on as these big ideas that need to be like built faction needs to be paid for and someone needs to put the ink on the paper and the guy hired to do it it is a guy named Rajiv Mishra Missouri is an unusual choice to run any venture capital fund let alone the biggest in the world his resume doesn't look look like those in charge at other firms Rajiv worked after college at Los Alamos the place where they made the nuclear bombs he works to start up with Solta Microsoft bounce surround finally made his way to Wall Street he worked at Merrill Lynch and Deutsche Bank Designing Really Complicated Derivatives and concentrating stuff he oversaw some traders who had the big short against the US housing market in the run up to two thousand eight they were the people that put their money on betting the housing market was gonna that's basically that's right how did he come to be involved in the Vision Fund he got to know Masa son back in two thousand and six Muslims doing big telecom deal he wanted to buy this big cell phone on carrier the only problem was that he didn't have any money and he called his banker receivers as banker at Deutsche Bank and Rajiv found him sixteen billion dollars in that tends to make people very close yeah what hiding in a couch cushion like money you say he's just money-spinner like you never found something you couldn't structure the couldn't sort of a debt wizard does all kinds of crazy really complicated financial structuring and his view of the world is there's always money somewhere and that's what Rajiv is always not always always found money to let Masa do muscle wants to do and you've met Rajiv what does he like Regina character he pads around offices barefoot in London's very posh London townhouse P vapes constantly he is rarely without a jewel in hand what are some of his other quirks the one that everyone will tell you about it's a habit when he meets people because their business card and he chews on it choose tends to leave an impression yeah did he do do that to your business card no no that's okay I'm a reporter of the Twenty First Century Ryan Oh you you just say follow me on twitter what does Rajiv's presence at the Vision Fund say about the Vision Fund it's a head scratcher there are a lot of people in the world who know a lot about venture capital investing the know a lot about private equity investing and how to really manage a big refund I would not say he is at the top of the list if you're sending a head hunter out there to do it unlike most head honchos VC firms Rajiv Ms Raza debt expert and so when the Vision Fund went out to raise the one hundred billion dollars to invest in startups he did something that other venture capitalists would be very reluctant to do he piled oiled on debt of one hundred billion dollars that the Vision Fund raised about forty billion of that is borrowed they borrowed it mostly from the Saudi Arabian government and and what's unusual by that is that debt is super risky seraient if I give you one hundred dollars not alone but I give us to you and I think you're really smart investor go put it in some companies and you lose it like that's unfortunate I've lost hundred dollars if I loan you one hundred dollars and you have to pay me back and you go and lose it will then you're in trouble because you owe me the money that you don't have the right there were both of us are in trouble because I don't have the money to pay you back and you're expecting to get that money back and you're getting it and by the way when it's one hundred dollars the bank can survive when it's it's forty billion dollars it's a bigger problem if the vision funds bets didn't work out it would be on the hook for a lot of money because not only did they borrow the money the Vision Fund also promised that it would pay some investors seven percent interest on that money which means that people running the fund had to place as their bets wisely and those decisions were being made within an organization that's just three years old the Vin Fund is itself a startup it started with twenty five people now it has four hundred people and so think of a start up like a baby and like they need parents to watch out for them in the crib that has is like walls so that they don't fall out and someone WHO's making sure they're not choking on everything And so I the concern here is that you have a startup that's taking taking care of other startups and the baby is looking out for other babies yes took a baby babysitting service run by that's actually a really good analogy because because that's exactly what little startups need is that they need structure in the room and so if the adult in the room also happens to be startup doesn't seem Mike it's necessarily the best recipe for success and it has not been startups looking for two things when they go to a venture capitalists they need money and then they need structure and guidance and operational support and introductions and connections and all kinds of stuff softbank has so much of the former that they haven't really had to focus too much on having the latter that they've been able to L. their way into investments simply by showing up with huge checks you do worry that these small young companies that need a lot of Karen Darren tension don't get it because they're one of eighty five companies that Softbank invested in an eighteen months maybe they're not getting the kind of support they need and probably getting more money than they need and again it tater torture the metaphor like you've given the baby your credit card and they're off vinyl maybe things and you can see it any badly after the break the conflict inside the Vision Fund may impact whether it does in fact and badly.