35 Burst results for "Billion Dollar"
Dunkin' Donuts in talks to be bought by Arby's owner
"Dunkin donuts is in talks to be taken private by something called Inspire brand the private equity backed owner of. Buffalo Wild Wings and Jimmy Johns. The deal could be worth nearly nine billion dollars, but it isn't yet clear if you'll ever be able to order an Arby's roast beef on a chocolate frosted.
Embraers CEO on the Breakup With Boeing and Going It Alone
"In April of twenty, one, thousand, nine, hundred Embraer selected veteran automotive industry CEO Francisco Gomez NATO as its new leader, and if ever there was a baptism by fire, he has gone through it in two, thousand and twenty. First, the COVID nineteen crisis hit crippling air travel and decimating demand for new airplanes then Boeing. Pulled out a four point two billion dollar deal to acquire an eighty percent stake. Embraer's commercial operations after emperor had shut down its operations for forty days and torn the company apart for car route. So where does ember air go from here and how can it recover here to? Answer those questions as Mr Gomez. NATO in his first conversation with the trade media since taking the helm at. Embraer. Also, joining us from Frankfurt to ask questions with me is yen's photo aviation weeks executive editor for commercial aviation welcome. Francisco. Let's start with the obvious question. Why did the deal with Boeing collapse and what are you doing to put Embraer's commercial operations back together? First of all, he says measure to be here with you. Thanks for for the Vision for this guests. Well I mean. We need that. Boynton has wrongfully naked. Reasons for the whose possession be. As, you said before point two billion. Dollar purchase bronze. Of Visualization. Progressing up is fast all initial TV areas in the service there is our. bigly. Read the great in we. Him also updated our band recall Roy. Sweep one twenty five mile e Cudi Commissioning Gatien in thinking The covy nine. So how do you plan to return the company to profitability and and wh what initiatives are most promising? Okay so he s an old this year. We really with a big issue the I wa. Dropping no revenues of the back of the V ninety. So event, not Anita the nature of the point lead this machine was more challenging because. With this, wrong in revenues combine costs. And higher the more. Because all day costs League Office. So this year what we are. We are we demanded A. Crisis Committee, and defining fighting for your. help us open the. Office will be the communication blow so. I will. Soon. As fight for artists, one is to protect. The health people because of all, these Colby get along people working at Home Office, the one who brought pants. All measures we Brought back to their health. Sat, on the second yard. This project allegations. Falls or on. Our. Our expertise always, you reduce our investments on only boom, our the siebel payables. The everything we coons who protect. Our cash. Who Wins? The vast in four four son loans to help us with a Number, three. was. recaptured. Seniors. Said before I mean we we had to recover. These is we had because of the off process. process. BROISSIA's. We. Promoted a rightsizing the organization because of the. Back, but also because of the effects of the Kobe. Needed his response, your guys edition, only a reduced cost, the new dynamic for the Popham who prepared again Asian. Our other strategic planning, one, twenty, five, the four priority is tool and. Die Of. This To Have A. More efficient immoral Gile Open. I. Is was. Is Now who view the basis for our future road then. We Very. Very. Robust. Recalling. One twenty five. That's a note we want that will already enjoy. Eating very A. CENTURY OUR FINANCIAL PERFORMANCE From. Linked to on. Any. Were democracy to. We expect. Enjoy rules any Mel Revenue Spike essentially, our financial. For.
Marketing Trends We Are Excited About for Q4
"Walk onto another episode of Marketing School I'm Eric Su and I'm Neil Patel, and today we're GonNa talk about marketing trends that we are excited about for q four. So this is a little bit of a new experiment tweet at me Eric Oh sl you. If you think this is cool because Neil and I don't get a lot of time to talk about what we're actually excited about right. So there's a lot of stuff that's happening in the business world and in the marketing world. So we'll see how this goes. This might be a little longer than usual, but I'll start it off I. I mean Neil yesterday. Linked in just just launch stories and I'm super excited about that. 'cause I just post stories instagram all the time I screen shots of stuff up there, and what I'm finding now is that I'm seeing all these people that are relevant seo manager over here content lead over I'm like, Oh, my God I'm going to follow these people you know have talked at a click flow team and then we can do something there. Right but it's just it's a people are here to do business on linked I constantly see like who's relevant talk who want to keep in touch with right? Because there's a little message button over. There but on Instagram, not so much I'm not looking to do business on instagram. So I think Lincoln or Microsoft rather is super smart for doing this and I'm glad that they finally brought it up. Have you tried it yet? I haven't tried it. We have it on her list to try in the next month or so were slow some of that kind of stuff but we're going to try that out another trend that we're seeing as boysearch everyone knows that half the search is at least in the United States now are through voice search according to common core specifically say voice her voice commerce did you. Know over sixty percent of people in the United, states have these smart speaker type devices have made a purchase do boysearch according to crunch and according to a have you done that before though I have many times what did you buy? We buy like bottled water toilet paper tissues, household items man I've never done that before as crazy works really well with Alexa and according to Oh CNC their company that does research they're saying by twenty, twenty, forty, billion dollars is going to be spent on boysearch. That's ridiculous. Amount I know this tiny in the grand scheme of commerce, but that number's going to blow up and explode. Yeah, you don't like the other thing too. I'm just looking at. This is more of a business trump, but I kind of is a marketing trend do but there's a Casey, Newton? I believe his name he's one of the lead editors of the verge. He just left to start his own substance. So everyone starting substance right now, which is basically just you're starting to email newsletter. So when I spoke to Anthony yesterday, I think he's got about five thousand subscribers paying subscriber. So paying ten dollars fifty grand a month from his newsletter, which is. Not, bad at six hundred, grand a year and so whether it's paid newsletters or even paid podcast subscriptions, i. think that's going to become more and more of a trend because people are legit leaving their full time jobs as writers unders going off on their own. You Got Ben Thompson, that's doing that. So what are your thoughts on that? Do you know anyone that's doing it really well, I don't know anyone that's doing well, but I know it makes money look at a Gora. Yeah Oh, how much they do in review of Gore's billion plus dollar company in revenue go some arriving ago. What else you got connection that I have that we're seeing come up in the upcoming years is look when you think about marketing all get emails, a lot of US ignore. But there's a new trend that we're seeing in emails. Right even we ignore emails it's still generate so much money we all send out so many emails, there's company called Sam email that lets you make purchases within your emails. So imagine me sending you e mail regarding I a t shirt you can pick the size and actually checkout and by within the EAMONN never have to go to the website or right now they specialize in airlines you can actually adjust your seat and adjust your ticket and all that kind of stuff within the Eamon. You see like the seat map and you can click and upgrading all that kind of stuff. It's Kinda cool. That's awesome. Yeah. I mean when we think about this at the end of the day, I was buying stuff using my phone when I as I was traveling is just when there's apple pay I immediately select that because the friction there's there's a lot less friction, the experiences a lot better. So whatever way you can make it easier for people to get things done. That's GonNa do well, and then your total. addressable market for that is huge right because you're just trying to solve problems for of Swath of people, you're not even just solving for for niche problems anymore and I think the final thing all end with right now is well to me I, just kind of been observing an investing world right now if you go read bessemer memos just typing bvp memos, what's fascinating to me is how firm decided invest in Shop a fine the very beginning, and you see a lot of interesting trends around that at how off they were in terms of how big they thought the market size was for. This is not exactly a I guess a trend here's that people are writing a lot more than what I'm gaining a lot from these memos. So I guess my only thing I'm trying to point you in the direction of is. Go check out these VP memos go check out morning Brusco, check out the hustle. The Hustle has trends as well. We're did talk about trends and I think you'll learn a lot because there's a lot of good information being put out right now. Neil.
Breaking Down Joe Biden's Plan To Make The U.S. Carbon Neutral
"At Thursday's debate, there was this telling exchange about climate change. Would you close the? Transition from oil minister yes. I was trying to. It is a big statement president trump again boosted the fossil fuel industries contributing to global warming. Joe. Biden is campaigning on a plan for net zero greenhouse gas emissions by twenty fifty and peers. Jeff Brady has more on his two trillion dollar proposal Joe Biden's climate plan is ambitious for an economy as big and complex as the United States but even those connected to fossil fuel industry. Say it. May Be Doable Scott Siegel with the energy focused law firm Bracewell says plan is pragmatic and includes both regulations and incentives for the growing list of companies focused on using cleaner energy in the future one thing that makes Biden's approach somewhat comfortable is that you can sketch out that linear commitment to additional resources to achieve these objectives which I think most people in business believe are going to be. The future anyway, the country has one example of meeting an ambitious climate goal. The Obama Administration's clean power plan aimed to cut emissions from power plants about a third by twenty thirty even though court challenges stopped the plan from going into effect, the country is ahead of schedule David. Doniger. IS WITH NRDC Action Fund the political arm of the Natural Resources Defense Council, the power sector is already undergoing. Changes have reduced their emissions by more than thirty percent ten years ahead of the target that the Obama Administration thought was aggressive in two thousand fifteen. A big part of that was the collapse of the coal industry coal fired power plants continue to go out of business replaced with cheaper natural gas and renewable energy. Still, the Biden, climate plan faces significant hurdles it relies on technologies that haven't been. Developed or may not be commercially viable. That's why the plan includes four hundred billion dollars over a decade for research with the economic hit from the coronavirus pandemic Biden's campaign updated the plan this summer it includes billions of dollars to hire people for things like plugging abandoned mines and building electric vehicle charging stations. Steph Feldman with the Biden campaign says, the plan also focuses on environmental justice forty percent. Of the benefits of those investments, go to communities of color and low income communities that have been disproportionately harmed by pollution and the exit climate change. This is especially important to the most vocal climate change activists while Biden has distanced himself from the green new deal. It is popular especially with the left wing of his party Jenny Marino Zimmer with three fifty actions as this is the strongest plan. Yet from a Democratic presidential nominee, the Biden campaign has committed to doing some really great things like ending leasing of also feels on public lands. We'd like to see them go further and create a true phase out for the entire fossil fuel mystery over the course of the next decade. Biden's plan has a longer time line for a transition and includes a role for fossil fuels with offsets and. Carbon Capture Amy Myers Jaffe manages the climate policy lab at Tufts University and says, all this is a credible plan for addressing climate change. The Biden campaign has listed the right things but the difference between listing things and getting those things is a big difference. If Biden is elected, he'll likely need democratic congress willing to pass laws and allocate money to make his plan a reality. Jeff Brady NPR
Business is booming for plastic companies as demand for plexiglass surges
"One of the interesting things about the coronavirus pandemic is that it sparked a need for more plastic demand for everything from facials, gloves, takeaway food containers, and even bubble wrap for online shopping has gone up and with that demand is severely set back the effort to recycle this happening is big oil companies are investing hundreds of billions of dollars to create new plastic and companies that have made pledges to use more recyclable materials are even in a tough spot as new plastics are far cheaper than using recycled plastic for more on how the pandemic has accelerated the trend of creating more and not less plastic trash. We'll speak to Joe Brock special correspondent at Reuters. Before the pandemic, we had a plastic crisis and I think that there is an awareness about that. It's killing marine life. It's it's leaking toxins into drinking water in some of the world's poorest countries. Then the pandemic hits and we have this flood of new plastic containers from three takeaway. Bubble wrap because more people ordering in as they were stuck in lockdowns as well as the the lifesaving PPA, the mosques and the gowns and the bodybags, which is understandable but also you have this double whammy. Plastic recyclers are suffering like every other industry under an economic meltdown and they are unable to recycle the plastic and the price of oil from which plastic is made drops dramatically, and that means that new plastic becomes very cheap and we cyclist cannot compete with that new plastic. So you've got this sous Nami new plastic arriving on the scene we site closed. Struggling, and so this dynamic can only lead to more plastic waste. I. Think that's a very important thing that a lot of people don't realize or they forget right away as that plastic really comes from fossil fuels, oils and and petrochemicals, and as you were mentioning, you know to make new plastics these single use plastics. It's so much cheaper now than using recyclables. Companies that have pledged to use more recyclable materials in their packaging and whatnot, but they just can't keep up you know new plastics just cheaper for their business models and all of this can become a driver of climate change. Correct and I think this is something which has been overlooked toll misunderstood during the climate change debate not only plastic made from fossil fuels oil derived products and gas issues. A growing area for struggling oil and gas companies. People are driving more electric cars than moving to cleaner fuel. These oil and gas giants need to use up this oversupply of shale gas. In the US they've got dwindling opportunities to use this one area they put into is making new plastic for the developing world where there's a rising middle class in parts of Asia and Africa. The problem comes that these are the places who are feeling the plastics crisis the worst. So as oil and gas company suspending about four hundred, billion dollars to increase production of plastics to use up cheap oil and gas. These countries have no way of processing dot plastic. So with already a waste crisis, more supply coming online no way to deal with it what do you think's going to happen? And the oil and gas industry are planning to spend about four hundred, billion dollars over the next five years on new plans to make the raw materials or these new plastics virgin plastics as they're called through Reuters surveyed twelve of the largest oil and chemical firms around the world to see what they're doing about this waste. Really they're just spending a fraction of the money that they're making on sales to devote to working on waste. So you've got campaign groups on you know some politicians in some government sank the oil and gas industry we KINDA. Coat. We need to reduce plastic production and what the oil and gas industry saying his. Don't worry we've got this covered we've got a solution we are investing in recycling infrastructure. We are helping poor countries to deal with their waste, and that's where I'll story really came from. We wanted to check that claim on what we found was the pledges made by the oil and gas industry are fraction of best spending on increasing plastic production, and they will have minimal impact on reducing plastic waste. So I think that that's a key point I understand because as the oil and gas companies tell you that they are fixing plastic waste crisis. It's important to interrogate those figures and I think that's what we've thoughtfully achieve with the story. I wanted to talk a little bit more of the effects of the pandemic. As we said in the beginning, you know face masks gowns, the P.. P. That we need to protect ourselves. That's also a big thing that's going to be feeling a lot of the waste you mentioned in your article China US twelve times more face masks than they did in earlier months in the United States, they generated entire years worth of medical wastes in two months at the height of the pandemic. So this is a lot of stuff that we're going to be seeing. The effects are going to be with us for some time. Yeah I think that's right I. think that's where it's worth separating the issue here. I don't think anyone is saying that plastic is not an incredible material with multiple uses and that it helped industrial organizations to make planes lighter may cause lights I think the issue here is single use plastic on the fear is this pandemic will exacerbate that trend of single use plastic. So although people might need mosques a need gowns and these are essentials if companies were to take this opportunity to increase the use of plastic single use plastic, then it's GonNa add to the waste problem and that's something we've seen with oil and gas lobbies who since the pandemic is hit. Written to lawmakers in the US to say that single use plastic is safer than other materials. Now, scientists have found that that's not the case. So you have to question whether the plus the pandemic is being used by certain vested interest companies that they want to capitalize on this to increase their profits. I think when a lot of people think about plastic waste and the huge problem, they definitely think about our oceans plastics make up about eighty percent of the marine debris and we've seen the big problems. We've seen the Great Pacific Garbage Patch you know which is just a bunch of plastic and netting and things like that. So I think a lot of people are really focused on that when they hear about plastic problem, but I mean it's really ranges all over the place. Yeah absolutely, and I think this is a problem which affects everyone. It affects humanity and I think that you see you see it in the oceans and certainly in parts of Southeast Asia, which is considered one of the biggest toy destinations in the world of Pristine Beaches Turquoise Asians you've got these waterways completely clogged with plastic fishing communities devastated where they live to be a risk as you mentioned, each plastics in the Pacific and elsewhere, but it's not just in the ocean it's clogging up rivers. It's affecting communities where they rely on food supplies where plastic waste is. So you know this is an issue that impacts everybody and should be an issue which everyone wants to help fix. We talked a little bit about the efforts from the oil and gas companies to limit plastic waste. But one thing that I did not know I found very interesting that the world's top three plastic polluters for two years running now are Coca Cola Nestle and Pepsi Pepsico. Obviously, they have a lot of plastic packaging. Their bottles are made the bottles that hold the soda in are made from plastic, and they're constantly setting goals to use more recyclable plastic in their products and not meeting those standards and it goes back to what we were saying at the beginning it's just cheaper to use new plastic than it is to use recycled stuff. Coke and Pepsi and Nestle and the other big consumer goods coming committees giving up a a consistent message they wanna fix this problem they want to use more recycled products but when it comes to meeting those targets that consistently Mitch the Knicks over decades and then they set new talk. Now, what they're saying is we don't get the recycled material. Now they cannot get the recycled material at the right price it cheaper to buy new plastics. Now, how you're GONNA get movies like material will you need a very advanced recycling system and that's what we're highlighting in this story the investment in that respect infrastructure is simply not there the oil and gas industries Coke Pepsi, they say they're investing in it, but then investing a fraction of what they're spending on advertising on new production. And this is a competitive industry when you go into the store and you look at the bottle of coke bottle of Pepsi bottle of another brand, the price of the packaging is significant in not product and you don't want your product to be increasing because you're using more recycled plastic. So the proof in the pudding we've seen that they've made these promises before and they've missed them. So I think we need to keep checking and keep saying they're gonNA meet those promises in the feature.
The Great Remittance Mystery
"Remittances the money that migrants people living and working abroad sent to their countries of origin, and there are as many as two hundred and seventy million people around the world in that situation, sending money to their families because of that remittances have become a vital source of financing for many developing countries the sums of money are huge. In fact, the amount of money sent in remittances is greater than the sum of all investments made by foreign companies in developing countries combined, and it is more than tripled the amount of aid that governments provide those. Countries. So when the coronavirus pandemic took hold on economies went into lockdown, no one was surprised when the World Bank predicted a twenty percent drop in remittances for this year, the lines after woman massive layoffs particularly in the US has the largest number of migrants and the World Bank warned of dire consequences for some developing economies that rely heavily on the cash that those workers send back home but nearly eight months in that correction has not happened remittances. This year have been steady, and in some cases, they have actually risen remittances to Mexico for example, jumped nine point four percent in the first eight months of the year it is. A mystery. Mystery, we love mysteries at the indicator. So. The break hired is that remittances are flying high even luke global growth circling the drain Hattie Hirsch cracks the case with a little help. Support for this podcast and the following message come from each trade you want to invest your money, but there's one problem you're not sure where to begin. Luckily, there's e-trade who offers more than just trading each rates simplifies investing without the financial jargon and has the people to offer guidance and support to make your money work hard for you. For more information visit each trae dot com slash NPR, e-trade securities see member Finra SIPC. Laura Karen is a specialist in development economics and a consultant at the World Bank. She's also reading for Doctor Economics at Columbia University. Welcome Laura. Thank you so much for having me a pleasure and I should say that I came across your research in a story and one of my favorite daily emails the conversation and you cited this staggering number in twenty nineteen migrants sent a record five, hundred, fifty, four, billion dollars back to their countries of origin, and that's up twenty percent in three years compared to two, thousand sixteen. So what's behind that jump? There's a couple of factors that are behind that. So one of them is in the last few years, we've seen healthy growth in popular destination countries. So part of it can be attributed to growth in the United States and also increasing flows coming from the Gulf Cooperation, Council countries and from Russia as well. So what you're saying is that because these economies are doing very well or happened how did you very well? During that periods, it means that there's more money being paid to these migrant workers, more migrant workers earning money, which means they're able to send more money home exactly and another big push that's causing this increase in remittances and I'm speculating a little bit here but let me draw from some of my other research, which is highlighted the boom in the use of mobile money and online or digital finance providers. So it's getting easier and easier to. Send money home digitally in one of the reasons for this is the penetration of smartphones right about that exactly right smartphones or even you know feature phones are getting more and more common around the world and our unlocking these digital and online finance solutions which are making it cheaper and easier than ever before to send money across countries and back home to migrant worker families. How would families have done that I would migrant workers have got that money? Back in the past then before we had digital technology, there's a lot of different ways traditional wire transfers but as well informal channels. So for example, a migrant worker might take cash home when they visit home for a holiday or to see their family and those are really hard to measure. So it's not until recently that we've gotten a good idea of how big these floods really are as some of these things are starting to come to light. So it it it may be. That's. The data is just skewed by the fact that there wasn't so much transparency in the past because of the informality of these transfers whereas now there's much more transparency because it's so digital and therefore easy to track. It's still something that is notoriously difficult to measure, but it's getting easier and easier as things move into the digital world. So, fast forward to earlier this year the global reaction to the spread of, Covid, nineteen, we had lockdown social distancing layoffs, plummeting growth numbers, bankruptcies, more layoffs, massive declines in household income from many workers, and yet remittances stay steady and in some cases even rise I mean, that's kind of mystery. How is that? Right? So the first reason is that migrant workers are often essential workers in their destination countries. So they're not necessarily losing their jobs as much as we might expect, and in some countries like in France in Spain and Germany qualified migrants who were not allowed to work in certain. Sectors before especially essential sectors like doctors or nurses are now being allowed to work in those sectors as part of the pandemic response use mentioned in the story that altruism on behalf of my coworkers might have something to do with this. Can you talk a bit about that? So a lot of migration research in the past has pointed out that one of the main reasons migrants move to another country to work is in search of better opportunities for themselves but also for their families and to be able to provide for their families and it's been established in the kind of migration literature that. Remittances tend to rise when things are bad at home. So you would expect remittances to fall when things go badly but instead they rise and that really gets to the heart of what migration is about. It's about providing for their families as best as possible even though they're struggling in their destination, countries are presumed that. The government stimulus right where people got in some cases more money than they would otherwise earns ripe especially in the United States with the unemployment benefit supplements I'm assuming that that stimulus would have had some effect on this. Is that correct? Exactly. So some migrants have been benefiting from these government stimulus for one example in California even. Migrants were allowed to receive stimulus checks and some researchers have linked to an increase in remittances especially to their families in. Mexico. So this extra stimulus spending is also being translated back home
Mark Jackson is the reason why Mark Jackson isn’t an NBA head coach
"Joe. Lake. Up after mark was let go had a bunch of quotes This was one of them that I found co part of it was that he couldn't get along with anybody else in the organization and look you did a great job. I'll always compliment him mini respects but you. Can't have two hundred people in the organization, not like you. Okay. and he said when I say the organizations whole I don't just mean the team just fifteen players that are involved in the coaching staff I mean everybody there's two hundred employees here. So we look at the organization going forward and the kind of coach we want and not just the performance everything else all these factors matter. We took all of that into account. So we have the player part of it. We have the owner part of it. We knew the front office didn't like him when one of the assistance. was busted for recording Jackson in meetings to play for the front office, which again that actually becomes a pro mark Jackson part of it. The Mark Jackson staff was not good enough the ownership in front office told him repeatedly, the staff is good. Enough Mark said we have the best staff going he and scalping apparently got into it and scalloping he was reassigned the front office didn't like that part of it. So we have the players have the staff we have the ownership we have the front office. Let's also talk about some of the other stuff that's just let's face it. Weird Jackson's Amana Faith I. Don't question anyone's faith. I just say to you leave me alone and I'll do my thing That's the way I've always operated and that rubs people wrong way when he was a head coach but also would find time to get to La whenever he had a convenient off day to go and do that. It's tough to tell a man of faith. Hey, you know what don't be that interested in God? That's that's an almost impossible conversation but if I was at ESPN or anywhere and said, Hey, you know what? I can't watch football this weekend. Because I have this higher calling eventually it worked they'd be like, Hey, you know what? Man Like this is all part of the job being availalbe around is very difficult in tough thing to navigate as I'm not even hundred percent comfortable doing it but I'd have to say employer at the time being frustrated by it actually makes a little bit of sense and I think there's other things that just bumped people out when curry had his ankle issues he was brought up in it was kind of a playful thing curry's brought up they put the holy oil on his ankle and. Jackson's wife at the time and Pete Jackson was like look like he had chronic ankle problems and now he doesn't. So you figure it out. That's one of those things where people like wait what Jackson also had some issues off the core where he was caught up extortion deal and I'm not even really getting on his case for that because I think a lot of things happen to people that are public figures that goes on normal people's lives. But the public figure becomes the of jokes on and on and on. He also said when asked about Jason Collins availability years ago. He said not in my locker room. So it came off as if he was a homophobe because there's evidence that he is, and then when he was asked to clear that up, he said look I know Jas I know his family and I'm praying for them right now. Hey, man you save your fucking prayers. Okay. That's the kind of stuff that just doesn't play no matter who you are and I think the. Most important part of all of this because I guess I'm still maybe a little surprised that he doesn't have a job because other people have been on TV and not been great on. TV. I've looked at other coaches that haven't had great runs and there's been plenty of people that have gotten second chances by the way both black and white. So when I see people out raged that he's been blackballed or as. Shannon Sharpe said White Bald or Kendrick Perkins recently, just saying like all of these things that I just going off on the idea that Mark Jackson doesn't have job it really feels like, okay. Are you informed and but yet you've made up your mind decided not to change your mind or are you uninformed and I think so many people screaming about this or like Oh wait that's right. You know maybe either moments you had just now listening to this like Oh, that's right. I've nothing personal against Mark Jackson. He's one of my favorite college basketball players of all time all-time. You guys know how huge of a Saint John's Fan I am and I actually was you know as a little kid be like dude I can't believe he's going this late in the draft is GonNa be awesome and he was awesome in the knicks I felt so vindicated I was. Like and I could refer team right one day I love Mark Jackson and I was right. But when I listened to him on the broadcast Van Gundy I, think him being on the broadcast Van Gundy chances of getting a job because if I was worth a half a billion dollars or more and had the opportunity to own a team or owned a team right now and I'd go. Van Gundy's on all of these little things like, Hey, look at how they blind me Anthony Davis on free throws already have them on the other side of the court. So he can seal for Deepak smaller offender will there be an adjustment. Hey, what's going on with the substitution? Hey, this rule's actually wrong. Why are they doing it? This Way Jeff Van Gundy will say, here's Hey Jason tatum something's wrong with him. He's the first pointed out it happens multiple times every single broadcast Jeff Van Gundy is easily the best NBA analyst in the game right now. Mark doesn't do any of those things and I. Don't know if that's just him not being comfortable in that role but he's a coach. He's a former player and he doesn't do any of those things. He'll say, Hey, this guy's not just a great score. He's a great individual. He's a human being. Okay. So and so doesn't get enough credit for shooting. Okay. In everything is results based. If the shot goes in, it was a great shot at the shot doesn't go in Hey, that's the guy that shouldn't be taking the shot. It's very. It's very minimal depth and when. You have people that make these decisions. You're almost instead of looking at the resume in Golden State which is on its surface again resume. You'd say Yeah. What like six years? Nicholas gives Scott his shot young team garnered play defense that's hard to do. But I think being next to Jeff. When Jeff runs circles around him on the broadcast. It it might remind go wait why why is this one guy way better talking about the game than the other guy so I think the best thing market do would not be on the broadcast with Jeff and who knows what might happen. So I just think the more we look at it and hey man trust me this is not white guy decide to push back on racism segment because I've. Probably done with those the rest of my life. I'm seeing specific to this one because the NCAA numbers are atrocious. The ABC's the head coaching. Diversity that we have in the pro sports leagues still is not what it needs to be I'm not pushing back on any of those things. But when it comes specific to mark Jackson, there are the informed in the uninformed, and hopefully if you've resisted this, you're more informed now.
Quibi shutting down 6 months after its billion-dollar debut
"It really was called Kwa by Jeffrey Katzenberg Meg Whitman short-form Mobile Streaming Service Qube Aka Quick Bites is officially shutting down. So by could buy in an open letter to investors, employees and partners that duo said, there are two billion dollar venture imploded six months after launching during a pandemic quote likely for one of two reasons because the idea itself wasn't strong. Enough to justify a standalone streaming service or because of timing end quote the duo said they're working on in the coming months finding buyers for the roster of programming which yeah, I mean I think that's going to be a little difficult when you film an entire season of TV in an hour qube previously tried to find a buyer. The platform was shopped to multiple services apple apple passed on it. Just. No takers
Data Alone Is Not Enough: The Evolution of Data Architectures
"Hi and welcome to the a sixteen e podcast. I'm DOS, data, data data. It's long been a buzzword in the industry whether big data, streaming data, data, analytics, data science even ai and machine learning but data alone is not enough. It takes an entire system of tools and technology to extract value from data. A multibillion dollar industry has emerged around these data tools and technologies and was so much excitement and innovation in the space. It raises the question how exactly do all these tools together This podcast featuring Ali Goatee, the CEO and founder of data bricks explores the evolution of data architectures including some quick history where they're going and surprising use case for streaming data as well as always take on how he'd architect the picks and shovels that handle data and ten today. Joining Ali this hallway style jam is a sixteen see General Partner Martinez. Casado who with other a sixteen the enterprise partners just published a series of blueprints for the modern data stack. You can find that as well as other pieces on building a businesses the empty promise of data moats and more at a sixteen dot com backslash mfl economics. In this conversation, we start with holly answering the question. How did we arrive at the set of data tools we have today Starting eighties, business leaders were kind of flying blind, not knowing how the business were doing waiting for finance to close the books and data warehousing paradigm came about they said, look we have all this data in these operational data systems. Why don't we just all that data would take it out of all of these systems transform into some place. Let's call data house and. Then, we can get business intelligence on that data and it was just a major transformation because now you have dashboard, you could know how your product is selling by region by skew by geography and that itself has created at least twenty billion dollar market that has been around for quite a few decades. Now, what about ten years ago? This technology started seeing some challenges? One more and more data types like video and audio started coming out, and there's no way you can store any of that in did our houses second they were on prem big boxes that you have to buy and the couple of storage and compute. Kim really expensive to scale them up and down, and the third thing was people wanted to do more and more machine learning ai on his data sets. They saw that we can ask future looking questions, which are my customers charn which my. Products are going to sell which campaigns should it be offering to who? So then the data leak came about ten years ago and idea was here's really cheap storage, dump all your data here and you can get all those insights and it turns out just dumping all your data in a central location. It's hard to make sense out of that data that sitting there and as a result, what people are doing now is they're taking subsets of that data moving into classic data warehouses in the cloud. So we ended up with an architectural maths stats inferior to what we had ladies go. We have data in two places and they don't make ended that or house or the stale mass, and the recent sees not great in the last two three years. There's some really interesting technological breakthroughs. That actually now are enabling a new kind of design pattern. We referred to it as the Lake House and idea is what if you could actually be able to do bi that rightly on your knowledge and what if you could do your reporting directly on your radio and your data science and your machine learning straight up on the data link I would love to tease apart a few things that have led us here. You know this is very clearly a large existing data warehouse market behind. And you know it's typified by people using sequel on structured data. Like the Emily, a use case is a little bit different than the analytics use case right the case it's normally human beings that are looking pash boards in making decisions where the. Use Case, you're creating these models and those models are actually put into production and they're part of the product they're doing pricing. They're doing fraud detection to underwriting, etc.. The analytics market is an existing buying behavior and existing customer MLA is an emerging market and so. The core question is, are we actually seeing the emergence of multiple markets order this one market? Well, there are big similarities and there are big differences. and. Let's start with similarities roughly the same data. is needed for both there's no doubt when it comes to a and machine learning a lot of the secret sauce, you'll get those. Results predictions comes with augmenting your data with additional Meta data that you have. In some sense we have the same data and you're asking questions don't differences. One is backwards looking future looking but other than that a lot of it is the same and you want to do the same kind of things with the data you want to sort of repair it WanNa have it so that you can make sense of it. If you have structural problems with your data that actually causes also problems for machine learning, actually the difference today is that. It's line of business as typically doing a and they'll science or hardcore rnd whereas housing and be I oftentimes sits in it users of the data warehouse into Beatles, our data analysts, business analysts, and machine learning. We have the all scientists machine learning engineers. We have machine learning scientists. So the personas different and it sits in a different place in the organization and those people have different backgrounds and they have different requirements on the product using today.
US airlines still piling up losses but say demand is rising
"Hi Mike Rossi reporting U. S. airlines are still piling up losses due to the downturn in air travel US airlines continue to bleed cash because of reduced travel due to the corona virus pandemic American Airlines reported Thursday a loss of two point four billion dollars in the third quarter Southwest Airlines reported it lost one point one six billion dollars the third quarter of the year is typically a strong period for air travel because it includes most of the summer vacation season added to earlier losses reported by delta and United the four largest US airlines have lost at least ten billion dollars in each of the last two quarters I might cross yeah
Shonda Rhimes Recounts How A Disneyland Ticket Helped Push Her To Leave ABC
"Shonda rhimes has finally revealed why she left ABC Ethernet flakes back in two, thousand seventeen, and apparently it all boiled down to a single. Disneyland pass a serious snub from a network executive in a new interview with the Hollywood reporter Rhimes that as part of her contract with the network she had negotiated all inclusive passes to the theme park for herself and her family. But when she called to ask for another pass for her sister, they gave her a hard time about it but eventually gave her past that didn't even work when she called an executive to try and sort things out. She was told quote. Don't you have enough already keep in mind that at this point rhymes had already made the company somewhere around two billion dollars and all she was asking for one, hundred, fifty, four, dollar ticket rhyme says her relationship with ABC was already on shaky ground with the network constantly pushing back over budgets and trying to tone down the content of shows. So it wasn't the first defense, but it was last she said after the conversation she collected herself called her lawyer and told them she was moving to net flix she went on to a one hundred and fifty million dollar deal one of the biggest in streaming history. Wow. way to drop the ball. Disney
The $20 billion missing from this economy
"Los Angeles I'm Carl Rozelle Thursday I believe the twenty second of October has always to have you along everybody. We're going to start today with a story about something in this economy that is not there that isn't happening and what that means. We're going to set it up by noting that seven hundred, Eighty, seven, thousand people lost their jobs last week and made first time claims for unemployment benefits less than the week. Prior, it should be said, and also that the Labor Department adjusted downward is numbers for the previous couple of weeks. And that's good. It really is but the number of people on government assistance because they have lost their jobs is still stratospheric. Lee High millions of them are running out of benefits and as you know, those extra six, hundred dollars a week went away in August. And that to get back to the thing that's missing is sucking billions of dollars out of this economy compared to earlier in the pandemic how many billions? Marketplace's Mitchell Hartman gets the lead story today. The answer is. Twenty billion dollars a week. That's how much is not getting into out of work Americans, pockets since a bunch of federal assistance programs for the unemployed started running out in midsummer Andrew Statler at the Century Foundation says based on Treasury data, they were getting twenty six, billion a week that as come crashing down to just six billion dollars, it's much less support to. Families and to the economy than we had six hundred a week in federal pandemic payments expired at the end of July the President's partial replacement program ran out of money last month also folks laid off back in March and April are now running out of their twenty six weeks of state jobless benefits some but not all are getting a thirteen week federal extension. Unemployment benefits now average three twenty a week across the country. It's even less for gig workers on pandemic on employment assistance and that has made a huge dent in the purchasing power of households suffering unemployment says Mark Hamrick. Dot Com, they are really having to scrape to get by these days just for basic needs such as pay for shelter, pay the bills to put food on the table and forget about luxuries. That's exactly what Brooke Wetzel has seen play out in her florist business in La when the economy started to open up late spring sales picked up but since August things have gotten pretty slow people might have that you know extra fifty to seventy five dollars per fire arrangement. So woetzel's working part time now spending the. Rest with her homeschooling kids I'm Mitchell Hartman for
Quibi is Proof that Capitalism Works
"Six months after its launch, an April Qutb. The short video streaming service is being shut down due to a complete lack of interest. Company was started all the way back in. August of twenty eighteen by Jeffrey, Katzenberg and Meg Whitman. The raised one point seven, five billion dollars, and then proceeded to like that money on fire. Where do you want to begin with this because? I had and we were chatting a little bit about this yesterday is that capitalism works? Like among other things, this is an example of capitalism working. The built this thing they spent a lot of money to do it. They put it out there and everyone collectively said No. I mean you're absolutely right. This is a great example of capitalism working And there are a lot of different ways to go with this in. I don't want to make light of the fact that people are losing their jobs from this though I will say that Even even for the most glass half full person. Jumping on board with this with this. Entity had the probably feel like chances were were chances of success. We're going to be lower than fifty percent I would have assumed but I mean, it seemed like it was a little bit bit obvious to all of us in the analyst community. But I, it was amazing to me like there was read in one of the articles that during a video call. With. With employee's Katzenberg actually suggested. Staffers listened to the song get back up again from from the trolls film to buoy their spirits. Like, he's still talking book. He's ready to lay people off is what it sounded like. It was very odd. I just feel like. It it it just didn't seem to me to be empathetic is probably could have been but. I mean, we talked about this a few shows ago right a few weeks back where it just I don I don't think anyone including Jeffrey really knew what Qube was supposed to be I mean is social as it streaming is social streaming i. mean there were already all sorts of competitors out there in that space to some extent in. So you know you sometimes when in-investing, like we say sometimes investing, you just got to be able to call call the mistake admitted move on as opposed to just keep on burning money in. It sounds like in this case I mean they burn through their capital and that was basically that and I think the writing is on the wall. It sounded like a lot of Hollywood was doubtful to begin with interestingly enough. They didn't have any problem selling content there like eight. Sure. We'll sell it but we don't think you're GONNA succeed. So. It's listen when you jump into a crowded space like this in in video streaming a crowded space obviously, you need to differentiate yourself right you need to innovate do something different and and it just didn't seem like they did that like at all in. Speaking of Seinfeld that reminded me of that reservations episode of it all comes back to Seinfeld Chris like you know how you say you know how to like get in their differentiator or innovate, but but you don't actually know how to do it. Right saying it doesn't mean that you're doing it and it didn't feel like they. Really. had come to that realization until way too late. So. One of the thoughts I've had about all this is. I feel like we need to come up with a new word to replace the Word Unicorn as it is used in the world of investing and for those unfamiliar. A Unicorn is a private company that. Reaches a private market valuation of a Billion Dollars and. I was thinking about something Emily flippant set on this show a few weeks back where. She was she made the comment like the world is only getting bigger. We're only going to have more. Companies with trillion. Dollar. MARKET CAPS in the future not fewer and so as things continue but I think I. Think we need to come up with a different because you know that was part of it. It's like Oh look at this company they've raised nearly two billion dollars. You know what would this be worth in the open market? Well, it turns out zero. So, look at I look at some of these capital raises with some of these businesses. It's astounding the money that some of these businesses raise and it's just. It's Just astounding I mean like it's it's breathtaking like you said, I mean look at. Robin. Hood for example with all of the trouble and issues that they continue to have like I don't know why anybody who's getting started investing today why would you use Robin because every other platform could basically match what they're doing for the most part and it's going to be a more robust and frankly trustworthy platform and yet this business continues to raise billions and billions of dollars it's garnered some like Ten. Billion Plus Market Valuation now, which to me seems really serve but it. It just goes to show. There are some very deep pockets when it comes to when it comes to. These, these these interests in know investors who aren't necessarily participating the public markets and. I think the thing is in most cases it's really all about it's all about hitting a couple of really you know it's about hitting a couple of home runs as opposed to try to get like sixty percent of your picks. Right I think most people know they're not going to be getting sixty percent of those picks right? It's really just about finding a couple of grand slams. The can make a big impact. Yeah. I mean a Unicorn is an incredibly rare creature and private market valuations of a billion dollars are becoming increasingly less rare. I'll tell you what is really a Unicorn is something like qube something that from day one we all sort of looked at and we're like I don't think that's going to work and then every step along the way like, yeah it's still working the launch isn't going well, they're burning like Oh my God they're they're exploring strategic alternatives up their dead. Every I can't think of another time when. There was a bit like. maybe, pets.com early like back in the day but. It feels like. They're always going to be those examples and I mean it's it's it's that's just so fun. That's why this job is so fun because we get to see this stuff every day I mean the market at the end of the day we said it is it's just like a really big to just disagreement right and I, mean both parties think they're right for whatever reasons and You have to figure out a way to reconcile that and choose the side. I think we chose ours on
British Airways parent company slashes passenger forecast
"The parent company of British Airways has cut its fourth quarter passenger for cost to just thirty percent of last year's level as government restrictions imposed to control a new label kanamycin factions reduces the amount of flights international airlines group made the announcement as it posted a third quarter operating loss of one point five billion dollars compared with a profit of one point seven billion dollars in the same period last year the company said it reduced the fourth quarter passenger for because because of additional restrictions including an increase in local lockdowns and extension of quarantine requirements to travelers from increasing number of countries zero Shockley London
John Gorman Discusses the Use of Opportunity Zones to Address Social Determinants
"To the healthcare policy podcast on the host. David. Intra Cosso. During this podcast saw discussed efforts to address social determinants of health with John Gorman chairman of the nightingale partners and founder and former Executive Chairman of Gorman Health Group. John Welcome to the program. Thanks David. Great to be here. especially with another native DC guy here most welcome John's by is, of course, posted on the podcast website. Briefly on background, the ongoing covid nineteen pandemic has exposed. The country's failed to adequately address the social determinants of health. Generally defining health access and quality education, economic circumstances, food security, social conditions, and environmental factors. It is estimated that where people live work and socialize determines as much as sixty percent of their health status. Whereas formal medical care accounts for just ten percent. For example concerning. Circumstances forty years of wage stagnation among lower income earners has left forty five percent of working age Americans. With either no health care insurance for insurance without a pocket expenses so high. They avoid sinking care went for example, they developed covid nineteen related symptoms. Healthcare policy makers have slowly begun to take an interest in addressing sto ages as a way to improve health delivery by increasing increasing appropriate utilization and reducing costs. For example, Medicare, advantage plans which enroll more than one third of all Medicare beneficiaries have recently been given regulatory authority to offer Ma benificiary supplemental benefits beyond medical care such as mail deliveries, home modifications, and Personal Care Services. With beginning, discuss, addressing, social determine, specifically use of what are termed opportunities zones. Again. John Gorman. So Jon with that as background. Louis. Begin by asking if you could provide a brief overview of nightingale. Sure David Nangle partners is one of these weird opportunities zone funds that came out of trump's big tax giveaway bill It was actually Cory Booker's program that was designed to encourage investment in real estate and disadvantaged communities and I was sitting on my ass retired last spring and got a notification that the irs had just completely revamped the rags to allow opportunities own capital to be used not just for real estate investment. But also for leases one portly for working capital or for meeting the business requirements of a new company inside one of the nine thousand roughly nine thousand opportunities zones around the country and those opportunities owns David are all. Severely, economically disadvantaged and more importantly medically underserved, and because the irs allowed now opportunities own capital to be used for working capital for meeting business requirements. That's what opened the door to allow us to use opportunities on Capitol to make large scale investments in social determinants of health intervention. So nightingale partners with insurers with health systems with large medical groups to finance design launch, and where necessary execute on our goals to improve. The quality of care for vulnerable populations. In this country, a lot of people like to say and I love it that we packed a Republican billionaire tax shelter in order to improve care for black drought people on that gets me up every morning. Sir Thank you. So this as you noted, this was a provision in the December seventeen tax bill. Specifically page one, hundred, and thirty. This was picked up this previous legislation as you noted, that as you mentioned senator from New Jersey Cory Booker but also the South Carolina African American Republican, the only one Tim Scott. So this is picked up in the tax bill previous legislation and you mentioned the nine thousand. So these are census tracts that meet this low income community criteria wrote and then explain to me. Governors than have to select a discrete number. That could benefit from this. Tax Advantage program is that correct doubts correct and there was a little bit of mischief but some of the governors in the designation of some of those areas and there's been, you know some gamesmanship with this story like you know Chris Christie, the former governor of New Jersey is. Used an opportunity zone fund open up frigging LAUNDROMAT. In Asbury, Park with Bruce, springsteen cats not the kind of stuff that we do. I'm not surprised to hear that I guess the former governor is a is obsessed with. Mr Asbury Park and again just so on. Understand better more clearly, this is the tax advantage here is that by investing the capital gains on your investment, you can avoid paying the. Twenty three percent the capital gains tax and that basically. Sure go ahead, go ahead. Well, basically, the way it works is that if you invest money or capital gains in and opportunities zone and you leave it in for at least ten years, not only is the initial investment completely tax free but then all of the proceeds that you make on that investment are completely tax free. So high net worth individuals. And family offices large corporations the generate large amounts of capital gains love this program, and indeed it opened up about six point two trillion dollars in available capital based on the amount of capital gains that we generate in our economy. So of that amount, David Roughly a hundred billion dollars has been invested thus far into opportunities zones off. The roughly eight months programs operate. And again, the idea is the long leave the money and means completely tax free for ten years out of step seven years you pay are you're eighty five percent excuse but I know that that number surprises me would you say this this this one, hundred, billion, his far more than was estimated when the legislation was passed. No I think it's probably rolling out slower than A lot of folks had hoped and as you can imagine, the vast majority of those deals that have been done thus far has been around real estate and real estate redevelopment certainly in the healthcare sector I think we're still the only firm out here. That's a healthcare focus opportunities on fund it. You know it we've been the only ones to my knowledge. So we're you know we're granted here, but we have yet even break a billion, but we're that's our goal.
What happens if online advertising is just a big, fat bubble?
"So. Big Tech monopolies are in the news this week the Department of Justice sued Google over how it maintains its search dominance and it search dominance is the key to its business model, which is that it makes eighty percent of its revenue from digital advertising facebook by the makes ninety, nine percent of its revenue from advertising and the profitability of targeted ads is also a big reason why tech companies are constantly collecting so much data about us and there's a multibillion dollar ad tech industry that exists because all of this makes so much money. But what these ads didn't actually work all that. Well, Tim Wong is a former public policy executive Google where he worked on artificial intelligence and machine learning and he's of the new book subprime attention crisis I. Think this is an interesting important distinction right? which is it's not necessarily to make the argument that advertising never works categorically right? We have examples of it working. The question is whether or not the market as a whole really lives up to the promises that it's made and the promises made is that data driven. Automated form of what's known as programmatic advertising is a kind of advertising that's way better than billboards or magazines or the kind of madman style of advertising and I think ultimately, it may be that we are exactly where we were decades ago. Right? which is we actually don't know which half of the money spent advertising works in which one is wasted. We just very difficult to tell. Is, there an awareness of this? I mean I know that you know after for example, Cambridge Politica, there was a lot of conversation about how there are lots of promises related to micro targeting and that it just might not be. Realistic. Like do advertisers are they starting to understand this? Well, I, think there's a lot of willful blindness in the Advertising Space you know so this book that I just wrote, it opens on a really strange experience that I had going to a marketing conference where a professor laid out all of the evidence right? You know sixty percent of people never see ads ad blocking up all around the world it was just dead space the. Advertisers kind of refuse to engage with it, and you know it's one of the things I've been thinking a lot about because it's similar to patterns that we see and other market bubbles right where there's these deep structural problems with the industry. But a lot of the people involved either don't want to hear it or they don't believe it I mean listen I'm very familiar with the idea of the belief that technology must be working even. All. Evidence to the contrary. But I do want to ask you about targeting specifically because it seems like there's a lot of technical reasons it doesn't work. But what about this idea that there's a massive amount of data collection that ads can be so specific and personalized that you literally cannot resist them are you saying that's also not true Yeah I. Mean You brought up Cambridge Analytical earlier? I mean there's a fascinating report that just came out from the UK privacy regulator that was basically their research to say look there's all of this kind of. Metric advertising does it make a difference and the conclusion? There was no there actually was not any significant difference and there's two reasons for that. One of them is a lot of researchers find that a lot of the data being used as faulty and messy and doesn't work and I think the other one is whether or not. This data actually helps you to target a message better is really unclear. There's a great researcher by the name of Allesandro. Who's been doing some work on if you have targeted ads versus non targeted ads, does it actually make a difference and conclusion is it does but really only by a small margin, much less than you think. Could it also expose the fact that a lot of these companies no longer want the data for advertising like they want it for machine learning. Yeah I. think that's ultimately you know I think one of the great questions and responses I've had to the book is people say so why have we built this enormous surveillance infrastructure? This thing just doesn't work I. Think people have traditionally thought. Oh, well, it's because Mark Zuckerberg wants to build a mind control ray that's his advertising system. You know the reality is that it has been collected for other reasons and for sure I think things like the promise of machine learning is is one of the reasons that people collect this data. What Can. Be Done. Do you think I mean? This is a big complicated technology question. You've got companies spending a ton of money and companies that rely on this for their whole business model. Like what could solutions even look like? One of my worries about this is that again, if you study the history of market bubbles, a lot of what we see is very reminiscent right to the say the subprime mortgage crisis of two, thousand, seven, two, thousand, eight, and there is a momentum here in the problem with bubbles is that. While, it may look great in two, thousand, seven, I think we were saying how great economy is doing. At some point they pop and I think the human costs will be great. It's really not just a matter of whether or not you know Mark Zuckerberg has less. Fewer billion dollars right I think you gotta think about all the media that's relying on this ecosystem that journalism that relies on it and many other places that advertising touches online, and so I I tend to believe in the idea that we have to find ways of deflating this bubble and so I'm really interested in kind of the ability to both spread the public word about some of the problems in this marketplace. But also I think there's room for regulation I. think There's room to enforce transparency in the marketplace to try to make sure that you know expectations about this match up with reality. There's been just as a regulatory matter there been a lot of questions about banning targeted advertising. Should that happen? Yeah I I do think. So and I think in some ways you know in may be the thing that pops the bubble right because for the longest time, advertisers have been basically holding to the position that we need all this data order to do our business to target our ads and what we're seeing as things. GDP are the European privacy law and CPA to California privacy law rollout is in many cases the market just keep chugging along even though our advertisers have a lot less access to data and I do think that that kind of realization that all this data might actually not have been very. Meaningful might actually 'cause you know sort of expectations or perceptions about how great this stuff is to kind of crash to Earth, and so you think these privacy laws have these two effects. One of them is to protect privacy, which of course is important but I think the other side of it is actually in May of like you know strip the veil off this market that I think has been kinda shrouded for so long Tim. Wong is the author of the new book subprime attention crisis. How big a bubble are we talking here? Digital advertisers will spend over one hundred and forty billion dollars in the US in twenty twenty.
OxiContin Maker To Pay Out Billions In Civil, Criminal Penalties
"The makers of oxycontin one of the drugs blame for sending off the OPIOID crisis will plead guilty to federal criminal charges. The Justice Department announced those charges against Purdue Pharma yesterday as part of an eight billion dollar settlement NPR addiction correspondent Brian Man is with US Brian Good Morning. Steve, how's a settlement? GonNa work. Yeah. So if it's approved by a federal bankruptcy judge, Steve The purdue Pharma will admit to the three felony charges including a charge that they misled doctors about the safety of medications like Oxycontin, over time, then the company would pay out billions of dollars in civil and criminal penalties, Jeffrey Rosen, the deputy attorney general who outlined the agreement yesterday says the sackler family would also be forced to give up control of their company. Instead of being the owners of a major pharmaceutical company, they will have no stake in that company. Now that sounds like a lot but critics are pointing to the fact that Purdue Pharma was already in big trouble facing bankruptcy struggling to hold onto employees and flooded with thousands of lawsuits tied to the improper marketing of opioids, and despite all that under this deal does federal deal the sackler walk away with most of their personal fortunes intact by some estimates there worth as much as ten billion dollars because of OPIOID prophets, they'll pay a fraction of that in penalties only about two hundred, twenty, five, million dollars out of their own pockets and Steve. There are no criminal charges against them the sackler. Admit to know personal wrongdoing. Well, how do prosecutors explain the deal would include no criminal charges and the sackler not entirely but mostly giving up a pile of liabilities rather than a penalty they would really feel. Deputy. Attorney General. Rosen was asked about this yesterday and he says these penalties go as far as the government can right now holding purdue and the sackler accountable. There is no law that says if you've done something wrong, we should just simply strip somebody of all their assets in existence that's not how it works. It has to be that we are looking at specific ex wrongdoing civilly or criminally, and then having a proportionate response but a lot of people including more than two dozen state attorneys, general dozens of members of Congress advocates for people suffering from addiction. They all say, this isn't proportionate response. They say members of the sackler family played a personal role pushing the prescription opioid boom developing these illegal and deceptive marketing practices that made purdue. Pharma. So profitable the Tissue James is New York State Attorney General, and she's suing members of the. Sackler family, her team tracked hundreds of millions of dollars in opioid prophets that the sackler sent to offshore accounts. She told. NPR. This justice department deal doesn't go nearly far enough doesn't account the hundreds of thousands of deaths of millions of addictions caused by produce farmer in the sackler family all of destruction that they have caused it basically allows billionaires to keep their billions without any accounting for how much a really made James says her state probe of the sackler family will continue. Meanwhile, there's one more detailed, the settlement that sparking. Anger, it turns out purdue. Pharma doesn't actually have enough money left to pay out the billions of dollars agreed to in this settlement. So the plan is for the government to reorganize Purdue Pharma into what's known as a public benefit company that means prophets from future sales of opioids like oxycontin would be used to pay for drug treatment and rehabilitation programs around the country Greg mcneal lives in. Ohio. One of the states hit hardest by the OPIOID epidemic and he lost his son Sam to an overdose five years ago. He. Says this idea of the government getting into the OPIOID business now after it's caused so much harm. He says it just feels wrong it. It just seems ill advised having the government entered into that business. Gosh. There's something about that. That just doesn't doesn't add up at all. And I should say Steve Twenty five state attorneys general agree they signed a letter last week they send it to Attorney General William Bar arguing that this arrangement is ethically wrong and could shelter purdue Pharma and the sackler from future criminal or civil liability Brian Kennedy at least be said for the deal that there's some money here that might help people harmed by the. OPIOID. Epidemic. That will definitely that's what the Justice Department is saying. So let's take stock for a second nearly seventy two thousand people died from overdoses last year this is still ongoing. A lot of those were opioid deaths. What US attorneys say is if this deal is finalized by the bankruptcy court, it would mean extraordinary new resources for states and cities and tribal governments struggling to keep people alive. But one thing everyone agrees to here is that this problem is so big now affecting. So many Americans they say the eight billion dollars from purdue, Pharma is really just a drop in the bucket.
What happened to Quibi?
"So how do you raise almost two billion dollars a billion and three quarters and blow through it in something less than a year I personally have no idea but Jeffrey Katzenberg sure does the Wall Street Journal reports this afternoon the Katzenberg, one of the founders of the much touted and once promising entertainment platform Qube for quick. Bites, real short bits of content mobile, first Katzenberg shutting it down. So for the second day in a row, molly would is here with our lead story. Hey, Ma. Hey hello again hello. Yes. So. What happened with BE? Yeah Qube. You have to give Jeffrey Katzenberg. Meg Whitman Credit Qube was consistent all along. This is a company that said we are about mobile content. You are going to watch everything on your phone. We're about it being short and we're about this specific technology that makes it cooler to watch on your phone. That's it. No compromises and unfortunately. They. Had the double whammy of miscalculating I think how much people wanted to do that and more importantly how much they wanted to pay to do that. And arriving in the middle of a pandemic where all of a sudden people were at home with their big huge screens instead of in the grocery store on their phones right We're you surprised I mean you and I've talked about this on, make me smart but we use the prize because they had Katzenberg. They had whitman. They had. Janice. Min, at one point I mean this was a it was a stack cast here as it were. It really was, and yet it is one of those weird wisdom of the crowds thing where almost everybody was skeptical of qube almost everybody felt like feels like a little too much money and a bet that is not entirely proven what I'm surprised about is that after six months qube is going to disappear I mean you don't hear about that very often they must have really not made a lot of friends in Hollywood to actually just. Go away any. Lessons learned. Was it just an idea before its time and it's coming eventually and let's hang out and wait for it or what? You know I think the lesson is twofold one. You cannot prescribe what people want to do in the way they want to consume like sometimes you really do have to follow a market and also content is king yet can't watch streaming service without a library of content, a deep bench, and you can't be mediocre. I mean, the the content you know the T. V. making landscape right now is operating at as high a level as it ever has right and a lot of the content reviews for what was on Qube, were. You know right some things were good. Some things were terrible. Things were just okay and that is not enough in a billion and three quarters dollars later it is reportedly a done deal molly would she's the host of marketplace tech also with me podcast, we do call make me smart molly. Thanks a lot. See you later maybe more of who knows.
"billion dollar" Discussed on Ripper Magoos with Bob Menery
"Was that selling Jersey Jersey team. Definitely Patrick mahomes today. Yeah he's number one. I'm pulling for big red meat. Tim Joe go anywhere. Stay okay with us. We just need a minute. You know. It's funny I have. I'M GONNA be honest with you. I'm Paul so I just looked at the number so I thought that the forty. I'll give you some really great amateur with anybody yet. So you'RE GONNA get it here. I unique aspartame clearly he's thinking about Cj Franko and making she's thinking about Lille cj and me doing all right so so my fucking outcome MARLA. I thought I had thought that the AWW are early math show that the forty niners was going to be Fifty percent better than the chiefs and Revenue and the chiefs at markets. Come out of nowhere so we thought the forty niners will be spectacular outcome and we thought the chiefs should be you. Don't call it a third smaller And the chiefs of believable chiefs are actually much better economic. So if you'd asked me two weeks ago I would've said forty niners who want to win for business the chiefs actually. How come January? Good Buddy of mine. I love the guy so I always root with my I always in my heart and I was GonNa make us the most money so I'm rooting for the forty niners rooting against fanatics. Right now. Because I don't care because Jed Had York's great guy and I want to see him when so it's GonNa be it's GonNa be interesting but you would have been a little bit. I haven't been there in fifty years and I got big business. I it's like. I think we're SANJIV JOHN chief t-shirt to everybody in In America right now. They're voting with their wallet. Let's let's be honest upset at the Tennessee. Titans are playing the San Francisco. Forty nine five so the rest of America versus Seattle. Actually she does really good for business. Really Tennessee Fran. Tennessee would have been a nightmare. Tennessee's very bad for business. I I can tell you the lead to two hundred thousand nine budget for Breaking Electron ix at Tennessee. No Shit no shit packers. How they sell packers are very good? But I'm tasting right now. The best hot market we've had in. The history of the company was Chicago cubs in two thousand sixteen. We did close to one hundred million dollars and cubs business number to ever was the eagles on when the Patriots and I was actually rooting against my home team. Because of how close I am with Robert and Jonathan Kraft. You sold John's. Were you in the box for the rest of the next round Robin John was right below you with Mike Trout. The this is a business and so people don't sometimes fans get mad at me and Philadelphia sixers fans who like me like how could you possibly root against the eagles. And you'll look jeffries a good friend of mine and how he's a good friend of mine. I'm friends with a bunch of guys who planned being planned the team. But you know Robin Jonathan Kraft. I mean they're family to me. They've done more than so many people in the eye. Talk to these guys every single day. So you gotta you gotTa root with people that are that. Are Your family for you anyway. Favorite team the The only positive thing was the only positive thing was that when I really want the Patriots to win when the Patriots lost at least we did like An extra fifty million dollars of business that made goes through for five hundred fifty yards in that game. which is in May we might need to five seventy five when he was fucking? It might be one of the best super bowls of all time. Maybe yeah it was crazy. Meek was imprisoned eagles a plane off meeks music Roberts really good friends with me trying to help me get out of prison and really Robert looks at me and like the third quarter Michael. I'm so sick meeks voice but I cannot hear his voice anymore man. You know. PHILLY's loyal staff. Is there or anything you real quick before we wrap up here you can with Timmy's nurturing got four guys. I'm going way back. This is twenty five twenty five years four legends of Norris town one of them had this quote with you. There's four these guys I think they were all with you in Vegas. This is this is way back before I get his point. So if you didn't tell you whether it's true or false all you have to do is if you can name the person that said this quote. I'll be shocked if you can't give you multiple choice. Okay how long is this GONNA fuck takes. So you're in Vegas. This guy's face before Right Mike with your looks and your billion dollars. We're definitely going to get some girls tonight. I have no idea okay. I'll start with was it Dan. Metzler don't say yes. That was it Christian Molnar was it. Judy Jud arena. Or was it Craig Salman. I'M GONNA say by process of limitation that it was not Craig Salman because he's not that witty geico thousand I`Ma say it's not jude arena juices study. I don't see that coming up. His mouth is Dan Metzler. It was Ju Ju it's not that funny stuggling good-looking normally take that jude. Rubens killing you. I love it Michael. Thank you for coming year. The man's fun hanging and we're GonNa have some fun and I got the invite to the fanatics party this year. I had to beg. Yeah we're GONNA MAKE YOU BA security. I call by Les Mike Anyway. We can get a couple of super tickets. I yeah plug fanatics a little bit of like. It's my go-to because I went to the party last year. I think it was last. What about family style? I mean we gotta support the Philly who you reading for. Who Do you the report forty niners? You should probably for the choose for fanatics. Whatever you want me to do and by we we we have the best ball? Game coming up Philly Boston no a one hundred to five thousand on the backward shut in twenty shots we will We'll find time to do this or that. We if we need to home. In Ruben. We have a bad one hundred dollars. I five thousand episode seventeen. Wrap this up Michael. Yes typically since we got Michael Rubin here WHO's a very strict professional soccer player. She played professional talk. Which is why now I understand? She's very happy that we don't have the N. W. L. S. F. O. S. L. deforming the goal goaltending gets ten penalty. Kicks against me. Yes how many think. I'm saving zero. God you for site unless she hits an Errand shot and Mrs one would ever think that's possible we'll save it for another fucking professional soccer player. He's not missing. Shot against an old out of shape played under keteric pick. It had some spectacular saying I mean. He's inside drop..
"billion dollar" Discussed on Ripper Magoos with Bob Menery
"Do you remember the first words when when you first meek as well because he's walking towards allegheny. Let's get the fuck Outta here. I mean we really I mean I just been with three three hours later. I mean he was the whole thing was crazy. He didn't even know he was like I was trying to call him on the phone he's on TV that he was being released from prison. And then the judge didn't want to let them out she wouldn't sign the paperwork and so we're like I basically said to ten lers you go down to the courthouse. You do not leave. Make they'll have to arrest you if they don't let him out today. You stand the courthouse and demand to get this paper sine so finally the judge signed the paper and just kind of gave up fucking amazing what I love. That's really special. You guys are doing is you. Just is something I think. In December with the kids that were affected. Yeah it it was. It was pretty cool. So one of the things that meek and I was talking about this. There's so many kids that have their parents that a currently car serrated or previous La Carte incarcerate for technical violation relation. And that's why we're we're trying to change people going to prison for not committing a crime. That's the thing that's so wrong you know to me. I always thought I don't know what you guys I thought if you go to prison you going because you committed a crime minded people and Kristen for not committing crimes. There's today twenty five percent of people go to prison. Each you go to prison for no communication for technical violations. That's what we need to eliminate that means that because they don't have enough money to the most common things by the way we're the country so smoked weed number one test positive for smoking weed. Number TWO IS MR probation appointment and number three. I couldn't afford to pay my fines number. Three's probably biggest one right. Those three or eighty percent. Yeah and in those cases you know by the way someone has a job. They don't WANNA lose their job so they don't go i. I lose my job and I can't afford to pay for my family or go to the public. So it's like the kind of stock and so this is what happens every day and so basically meek and I talked about this. He said we gotta do something special special for kids that currently parents currently for technical violation or have been incarcerated in the past for technical violations so we found fifty kids we actually bust them out of the NBA store store New York City. We game all shopping spree. They met The owner of the Brooklyn Nets. They met a couple players from the Brooklyn Nets. Dj Cowed Meek. We then Robert Kraft sent the Patriots team. The plan this the the same plane that the players fly on put all the kids in the plane. We took him to the Patriots game and It was an incredible experience. The kids had daily life that the they're never forget. I think these kids not only do they have an incredible day. They saw what was possible and we opened the rise to you. Know what you deserve better than this and you can get yourself out of the situation and it was you. Yeah for me. I actually left on vacation with my family. Took my mom and my sisters in the husband's at kids to The Caribbean the day before I actually trump my family up. I didn't I wanNA tell him. I had to go back to New York second. I drop them off. I dropped him off and then I went home. Barack came back to New York and Boston the next day for me. It was such a rewarding day to see these kids the smiles they had. And how how you know how much we really impact the lives. So is it safe to say that Make Mill is not sending you a bill when he has to perform a fanatics party is it was performed at one but now he would definitely here. You're not talking prison. Listen if I tried to pay would never take the money because I was curious. I one thing I always wanted to know is meek mill charges Ruben. He it last year he headlined with Cardi B. and actually because to me I always compartmentalized. What I did was all personal? Because he's he's like a brother to me person. I had nothing to do with. Phoenix actually tried to pay me. Look like Michael Michael. Don't ever ask to pay me. He was like he was mad at me from asking. I'm like it's the company. It's nothing like Michael of ever tried. Pay Me again. I'll kill you gamble by the way. I'm gamble a few hours of Taylor. I do remember. Actually the reason I I found out who you are obviously like I saw a clip on line of meek mill I think was meek mill and Michael Michael Rubin Bet I think he threw the ball. was that make the yes. So how was that so there was a basketball. Probably well. There's a little there's a little background Akwesasne Joel. EMBIID was at my house and he basically with with one hand did a backwards shot and I shot made a half court backwards with one hand and so I saw this on like like how did he like. If I if I did this a thousand times I would never make it literally. Half Court wanted hand backwards. I shot so I went out that night and I was with my girlfriend. I'm like you gotTa take this and I basically start trying to make the shot and literally after like twenty only shot. She made it. which was maybe a miracle for me? I think if you gave me the ex very athletic. I've senior dance. It's my best. Go says my athletic abilities. I mean I literally could be at least person actually not even the nights in the entire world I'm like I was not given coordination so actually made the shot up to twenty shots and he thought it was the Great Fluke. So Meek saw a AH I could make that shot a second. So I'm like okay. I'll bet what he wanted. I'll bet fifty grand and and of course we had twenty five shots. He made twenty two or twenty three so the battle is fifty thousand dollars. He's twenty five shots to make it back and he made like twenty two or twenty three by the way. We'll try as well. He'd never made it by hand and unpacking do that. I think he'd do half court back with shot we. How many shots would you like? Twenty would you like the best to be well. I don't have a lot of money but we put up one hundred dollars up and I think it's if she makes it she gets five grand done done all right five a half court shot all right. She gets twenty shots twenty backwards county bucks to five grand must have done deal. What was meeks bet? Makes his fifty straight up like yeah. That's fucking horrible. Bet The odds are extremely unlikely against to make well. He was much more confident. His athletic abilities workout right. I mean twenty five five. You'd think he'd have a feel for it now but still it doesn't make sense. You know like our flatbed for odds you know true or false the Brigada in Atlantic city. You won the most amount of money playing blackjack in the history of Atlantic City in one day does not currently we are fucking research pretty close so right there might Donovan Day. Back in the day had good win. That could have been beat since then. All right you out. Do you like to discuss numbers. What was the what was I? Don't know what's going.
"billion dollar" Discussed on Ripper Magoos with Bob Menery
"So you what was he charged with initially so when he was nineteen he was charged for pointing a gun at multiple police officers and then he told me that I remember this like it. It was yesterday told me when we were sitting the basketball court. I would just ask them questions. He was asking me questions like. Yeah you know when I was nineteen years old. I was charged for pointing a gun a multiple police officers. He said but if you put multiple police officers that's called suicide jobs to shoot and kill you. That would be they wouldn't be doing their job. Didn't shoot and kill you and you know no shots were fired. I didn't put a gun. Police officers so the whole thing is a lie why I was like me. I don't care like this point. Twenty seven twenty six ten years ago like he's like Michael. I promise you identity told me that over the next three or four years. He probably told me that a hundred times but I never thought about it once it got sent to prison and myself Jason. Rock Nation Desert Fraz hired dozens of investigators gators We were first looking into the judge because he had you know well. The system is funnel had broken. He had this awful judge and we refresh. Look into the judge. And we're spending months looking at all these issues with her. She edged discharge. It sued thirty-three people individually not as a judge but individuals really the person we found all kinds problems. The judge makeup Saint Michael. I know because you sat in the courtroom obsessed with this judge. I never did what I charge for. You GotTa like you've got to look into the set of charges. The first police officer that the investigators meet with so yeah he never putting on the holdings ally. No one ever asked me with what anybody I'm at the Eagles Patriots Super Bowl. It's February basic two years ago. Exactly right now I call because I got great news. We just met this police officer. WHO said that that he was there? He was one of the two officers. Union point the gun the whole thing. He signed an affidavit. Your jail in a couple of days. It took US another three months to get him out of prison even though he didn't do what he was originally charged up and so he went to jail originally for for about ten months and then he got sent back to prison four different times from multiple years collectively for never committed a crime. One time he did a concert in Cherry Hill without the proper authorization relation to do the concert he got sent to jail for ninety days. One time use used a water pistol in a music video and he got sent to prison because they said was poor behavior but it was based off of the when he committed they just just because he was violating because he was still on probation. The judge basically put him in prison anytime she wanted. The judge Charles Life in the judge was like literally Kuku crazy and she basically wanted to run his life and when he didn't do exactly what she wanted to do with his professional career. She basically sent him impressed so she had it out for one hundred percents. I heard he was a troubled kid and he tried to turn turn it around but nobody ever gave him the benefit of the dots. Look I met him like I sent probably six years ago. He was when I met him. And I've met lots of people. Lots of people come through at the sixers games in in our business. You meet everybody you see you know great people okay. People Ban People from the day I met him he was Super Smart. well-spoken articulate thoughtful. If you ever put it start tapping a rapper. It wouldn't be what you would think this guy. was you know incredible from the day I met him. I never saw any trouble sign of him. He's always wrapping. Price saved his life giving an outlet. The crazy look. You certainly grew up in the most ruthless airing the planet but the thing that's crazy is the whole legal system today. America's got the worst most broken criminal justice system him in the planet. It essentially. We have five times. The rate of incarceration of the entire rest of the world. We have four and a half million people today on probation and parole. They should probably be a million people on Probation Karol so when when we got out of prison. Reform is raised over fifty million dollars myself Jay. Z. Robert Kraft Meek Dan Loeb Robert Smith. Mike like no regrets clarify Who just bought the Brooklyn Nets? Recently like Oscar species everybody we have a great crew. We put over fifty million dollars that is. We hired Van Jones to be the Sea of and we're focused on getting a million people out of the criminal justice system over the next five years and you mentioned desert Peres sharp she. She is a beast of all b-best. I met desert for the first time in this is crazy to desert was sitting next to it makes trial and when they put me in handcuffs. He's taking his watch often given as well to his mom. is basically start crying. Because I'd never seen anything like this before it makes tearing up and I looked at me and I said I'm not gonNA stop. I looked at him as mommy. Said I'M NOT GONNA stop until the prison and this woman looks she. She Goes Hi. I'm desiree I'm not gonNA stop until I got a prison she goes. Let's go. That was the first time that hurts them and desert I in the past two and a quarter years. There's probably there's been seven hundred days probably had two thousand phone calls you know. I talked to diarrhea every day. She's become you know an incredibly close friend of mine and I gotta tasting. There's nobody like a beast. She's a force nature superstar Super Smart Data. That you want to be with her you do not want to be. I'm scared of nobody. I would not want to be to fight with desert. What was the timeline from? When so he was put in prison to the day that he got out? You always put in prison November. Six two thousand seventeen okay. He Got April twenty. Four two thousand in eighteen. I remember that because that was the famous day where he told me this is. This is a funny story. He'd sending me so many times like Michael Keep Waking up with this dream aware. Because He'd flown with me on a helicopter so many times he kept saying you know a hundred times before you went to prison. So keep waking up where you're landing in the prison and picking me up in a helicopter and so in one of my strategies was to help get out of prison was kept taking really well known people in prison who then could come out and talk about the issue that that would help bring attention to it and by the way the last person we took the same before the storm until you was. Robert Kraft and Robert Kraft went in there we raw together On vacation and Turks and meek o'clock because I talked to me almost every day and Robert said you know I want to go see him and Robin saw him he was like he couldn't understand. I remember him looking at Miki's like how do you have such a good attitude like you've been imprisoned for five months you didn't commit mid crimes that I'd be so mad immediate. You know what I've been sent to prison three times before this forever community. This is my whole. I don't know any different you said but now everyone's fighting for me and so Robert went out and spoke and by the way it was incredibly impactful but so I went that day with Kevin Hart. WHO's a cabinet maker? You know grow up together. They're really good friends. And so Kevin I went to see make you. Kevin is trying to tell me this. Isn't that bad visit which trying to cheer him up. I'm like meek maybe get out of prison as like Michael like fuck you man like. I'm never getting out of this place on like you have a shitty attitude and tell them. Every week I get talking on the phone and the prisoner face to face to face an important craters for it or Montgomery it was Chester County prison got assume their cabinets Cavin Asleep one o'clock in the afternoon tonight. We're playing the heat. If we win the game we're GONNA win the series and go to the next you know level. The playoffs mix. Never getting out of here I leave one thirty Kevin. It goes out and speaks and gets a lot of good energy and literally. I mean my office at four o'clock and the Supreme Court of Pennsylvania ordered his release that day and so then you gotTa pick but the helicopter on the picket over the helicopter. He's an hour away so anyway everyone convinced me pick up with the helicopter. We picked it up in the helicopter in the parking lot. Right across the street from the prison. We flight at the sixers Chris Game. He goes into the stadium in his Gel close. No someone cuts. His hair. stylist comes in. He literally gets dressed. We got we won the game and beat the heat to go onto the next series and the the people just go crazy when they saw him at the game it was the most surreal by the number one. Most real thing I've ever lived through my entire life to go through the fight for five and a half months for you know one of your you. You know you're really close. Friends was imprisoned for no reason. Then they get out of prison and then they come to a close game of the playoffs and win the game rings the Bell. We win the Nice. Who is who was that more people get back to the land the helicopter? You don't see meek mill. WHO's in the helicopter with you? When you went my chief of staff has got sausage? It was one of meeks managers and one of his close. Got Kona and Actually Randomly Lester Holt. Team was doing a big story to help. Bring attention to this and so they were randomly in my office. Doing a story about meek in the situation and so they came with us as well. So you land on the roof or wherever you actually great. Quince Gegen shutouts my partner Josh Harrison. The sixers WHO's the manager of the sixers so we said to the prison prison. Hey we need to land helicopters this poison outland. Surely please feel like you're not landing the helicopter here and so somehow someone said. Oh Josh Hours owns the casino right across the street Like Flyer this deceitful. Literally Harass Casino. They said we call Josh Gal up for you to land and literally ten minutes later in the parking lot literally. It's one hundred feet from the prison to to their. There's thousands of people outside like you know fans going crazy. Don't go anywhere. Stay with us. We just need a minute okay. This is a thirty second commercial. And I'm going to throw a lot of.
"billion dollar" Discussed on Ripper Magoos with Bob Menery
"Hopefully Gov your listeners do know what facts is the largest retail of licensed sports merchandise in the world we own the NFL shop NBA store will be store and H L store couple hundred individual collegiate sites if you go to buy license sports online we generally hope that is from us and we saw last sports. Today's the company I bought from Ebay in two thousand eleven. It was about two hundred fifty million dollars company. Any this year will be three point. Two billion dollars revenue and we're just getting started six hundred part. I have one thing to say. You're probably next t shirt by the way now. This isn't fanatics actually. It's not you're in trouble fanatics. I did not that I have with you. I have a bonus. You'll have one bone we don't well. We have there. There might be a killing. It got several you have mls but you do not have nwea selling their. Do you know what that is and you have the G Lash Women's league soccer. Yes letaba that the nurse town. It's coming through them and through my almost graduate high school is coming through. I figure that out myself. And you're working you're working for licensing or something but we can work and getting this for you. We're GONNA come through. I WanNa make you happy like I wanna make every fan everyone in the world happy and this brings you happiness. I'm coming through a few phillies. That was so philly style. Have you seen by the way Have you seen might not to boost fucking ego anymore. Needs it but have you seen Michael's new place as New York City. I was there once the chandelier right now. Wait was the perfect. It was awesome. Your place in New York City is the Larry we let you in there. Yeah Yeah you did. I came with Saquon. Never we walked in you. Send me I'm going to be honest. I don't remember a lot about that night. You're fucked up you drink but other than that. I don't remember a lot a lot about that night. So what is the place in New York where is it. I live in the West village in New York. Is it the most expensive Somewhere definitely not okay. Howard stern same buildings Howard Stern? I don't think it is by the way. No he's making it. I was like I'm like I'm like Actually Ryan seacrest lives underneath me close as we get to some interesting personalities are sometimes on the radio right so west village. Yeah you came to the Fashion Week Party. I can't we get a lot of fun. Unbelievable yeah they almost three behavior. Oh by the way I was so well behaved. I was just so intimidated. I'm walking. It's everybody who's who the party. I'm like what the fuck am I doing here. And I have a funny story. My biggest who I get star struck in front of more than ever whatever's Leonardo di Caprio so. I'm at Michael's Party. How many people you think they're well? We made the party from six thirty to ten thirty right. Sorry six hundred ten and we're GONNA I have about one hundred and fifty people who are very tight with we had and to fifteen in the morning there were two hundred fifty people. I Ruth I went to bed and let the party go on the party. Finished about four. Fifteen okay cool. Yeah because I've ever. It was Gucci. Mane Meek Mill craft. was there to Caprio. It was the first time I ever saw DiCaprio face to face. And this is a guy that I looked up to see anything happen to your body. Yeah he slide into my pro. It's got posters of capital Rolodex of recent. Sorry I'm on a good run but anyways I walk into into the fucking party talking whatever Blah and making my way to the bathroom right and I'm walking towards the bathroom. Also they did a take to the right. Look and it's Leonardo DiCaprio and I do a double take and I fuck and was like a little schoolgirl. I went up to him and I was just like. Oh my God biggest fan and there's nothing he could do. It was a WHO department. So it's like a WHO's who of the party but I'm saying you know he didn't know who the but he had be polite because when michaels a party it's kind of you know if you're there you're somebody crew significant or insignificant. Yeah I was. I was significant. He's all right Michael's your gods the same way. He looked at Lille. I believe he de Ladies. I hope not so you have had in the news Stuff going on with reform lately and all that stuff so I want to talk about real quickly. Your relationship with meek mill because you you guys every time I fucking Instagram I see you meek mill. Make an out or fuck and giving each other back door hand job. Because he's he's like one of my boys to collecting. Okay so meek in you. How did you guys meet we met? NBA All Star game probably Six years ago go ish. It's actually a great story because my daughter WHO's in the sports business. She is not moved by anything and the one person that she loves seven years ago. It was making me nauseous. So meek was engaged to Nikki and and they were sitting next to us at the All Star game. My Dad that that that's Nikki. I'm like okay like who I didn't even know who was at that point because I've just had no clue and she's like just kind of gravitated in Nikki. Akiem like in Nikki seem fine so nicky my daughter in a long conversation beacon I start talking and turned out he was from Philly he was big sixers fan and right away he started asking me like tons of questions about the business but kind of like when we met just very curious asking good questions street smart and and you that's how we met and we became You know over time really good friends. And then I had the You know what was really life changing experience of sitting in court with him. You know we'd been friends you know three or four years already and make said to me. Hey can you come to. This hero may want you to see what happens. He said to me like what happens. When a person goes to court in America we used to always fight about this? Because I say look your. Life's great what he complain about. Your you know your a big rapper. You're killing it. Everything's going away. He wanted me to come to court with him so I went to court and I basically watched one of my closest friends who didn't commit a crime get sent to prison for two who to four years by the way and even sent to prison three times before that for not committing a crime for technical probation violations so he popped wheel motorcycle and the judge each other bill to send him to prison for that prison for two to four years and when that happened I just had this like outer body experience. Here's one of my really good friends who's getting sent to prison. Who I didn't do anything you know? Fortunately you know for for for me. Unfortunately for me because it opened my eyes and you know he he had myself and and Jay Z and desert press from rock nation. And the two of us she said like look. We're not stopping to get this guy to prison and During that process my eyes got opened. I used to think the criminal just system worked really well and It does not in America. It's completely broken. And what happened to him happens to millions of people and that's where we start the reform alliance after he got out of prison plug it we have drinking problems. We got to support our bad habits. It's it's time for a commercial break. You deserve a website that has dynamic as you are business blog beekeeping. Whatever your thing is you can turn it into a unique.
"billion dollar" Discussed on Ripper Magoos with Bob Menery
"Right. Wow season two or calling it episode seventeen. Timmy Bausch back then Lawrence sessile moment she's back where does he not have been changing the world one soccer player time. We were worried about you. Tim You leave us in here and you see what happens. When Laura leaves the show falls apart yeah well I so you guys interviewed Charlotte mckinney? And I was like this question justice question. I had so many questions us where it is. I mean I know him frank around for five hundred TACO's at a TACO stand with her. I'm ready to work parading around like the Prince of Paradise. Now that's not true. Look at hey anyone wants her story. I'll tell you it's unbelievable regardless of anything though. Stop laughing at me Lauren. Regardless of anything it is good to have you guys back. It is super bowl coming up tim. You might be going the super bowl. Yeah I'm working. You're going to have to talk to our Guy Michael Rubin he might get your ticket these heavily style. Doodo put me right. We didn't do all right. Well it's the way it works in the northeast Super Bowl. I am going to Miami next week away. So we'll be there together all drinks and have fun and get wild timmy. By by the way has been a very proud of. You've been sober. Yeah I mean but you broke. I cracked a little bit. What is you crack at made? Twenty one days I think twenty numbers. Don't even fucking makes sense twenty one days. You're like nine nine days. twenty-one know maybe eighteen that's even twenty he went to Vegas he got fucking Zap. This regard Bob Stevenson. I think he got married to Bob. Stevenson in Vegas Larry who's desolate area on the at and T. commercial which is the weirdest fucking Combo U2 bobbling on your heads around and so yeah but look at it look it. We took some time off. I think we took a little break for two weeks. Now alarm was gone. Timmy was zapped yes I was fucking falling love and falling out of love left and right by my thing but all right so you guys ever heard point spat Lauren. Now I have not. Are you gambler. Learn I'm I'm not much of a Gambler Tim. Are you a gambler report. You came sucked today after fucking Kevin over biggest quite spats dot com. I loved what points bet is doing. You know why they're the fastest online sportsbook as Timmy's shows me the bucks. Hornets Game Live on his phone and obviously has some action on on it. Do you know where they're playing that game right now. Where Paris really winning Laura now is it Kinda phony number one in the east baby but back to point? Spent their live live in New Jersey in Iowa right now. They're obviously like we always say. They're coming to Indiana Illinois Michigan Colorado. Sky's the limit. They're giving by the way our listeners. Amazing offer to try out. Sign up with the code word. Bob On point sped dot com. You get.
"billion dollar" Discussed on American Greed Podcast
"For every person that person recruits and that can continues down six levels Mark Albers is senior staff accountant for the SEC. Boston it's a way that you can exponentially increase the money that he's coming in for virtually no effort on your part other than your initial recruiting of the people directly below you and recruiters all have one requirement you cannot write a check you can no use a credit card he had to be cash and why cash only aw because recruiters have figured out how to game telexed free. When a new member comes to a recruiter they often pay thousands of dollars to open the town's once the accounts are opened the membership fee for those accounts needs to be paid to telex free but the recruiters do not pay to extremely the new members cash instead they pay using credits that they accumulate by recruiting new members and they pocket the cash ultimately a lot of the money didn't actually go to telex free it was going to the high promoters there were promoters at the very top of the pyramid we're making a lot of money out of the scheme and with so much money to be made signing up people for Telex free recruiters begin to open their own offices in storefronts welcoming people off the street it was truly a secondary market in which these storefronts would pop up in towns with large immigrant communities were people would come in with bags of cash and just pay these pre existing members of telex free to sign them up but to make these trends actions work recruiters need lots of credits and suddenly credits are in high demand they become a form of underground and currency people were paying loss of cash his credits because those credits were the key to future compensation Rosemary to Rico shout when a recruiter shows up at our door and want to buy her credit which keep brought to my house sixty thousand a cash I said I don't have that amount you know I said I wish you'll have that amount and wilder thousands of people capitalizing on the telex free credit boom there is one person with a particular advantage Carlos one Zeller according to federal prosecutors he is running a kind of insiders club where he manually adds credits to friend accounts they collect cash from new members and deliver it to him and it was almost a way to embezzle money out of the company and we have stories of people showing up a telex literally duffle bags of cash it appears that one seller was able to extract from telex free millions upon millions of dollars in the old days before the Internet predatory frauds like telex free relied on personal relationships to spread the word of escape but that was then and and this is now right from the start James Maryland Carlos ones under turned to social media to promote their amazing opportunity and this is truly a twenty-first-century fraud when we first started looking at this scheme we went online and looked type telex free into youtube and there were just thousands of videos so you to facebook twitter had the ability to just exponentially increase the awareness of the scheme overnight almost muscle as some of the videos are made by telex free designed to explain how the business works the thought up in Basle wind favors others keep members updated on changes in the company but it is not long before people watching the videos realized they can cash in on the company to all they have to do is set up their own telex free website like this one they would walk through the compensation plan was locked you how easy it was to post the ads and then try to get other people to sign up three and through these sites the telex free message takes on a life of its own youtube will make you famous overnight but now we can see that youtube could also make fraudsters rich overnight as well just months after his launch telex pre promoters show potential members in Inter ed videos that it has a staggering following designed to attract new members of the videos document popular telex free events called extravaganzas this video shows have been held in Brazil in two thousand twelve but they are all strikingly similar interviews with big winners offer evidence of money being made and Maryland ones other portrayed as hugely admired select and when you watch the video that really strikes you how pulled in to tell free all of these people are they view Maryland Juan Zoeller as their champion's tour going to help them change their lives and everyone's going to make a lot of money in almost no time the videos posted online fuel collects freeze expansion around the entire grew to Russia to China to Malaysia to two hundred forty eight countries thank God out of control because it wasn't just them talking about tax free entire unity's while some online recruiters are generating big bucks for themselves at the end of the day according to federal investigators there is no no one who is making more money than Carlos One Zeller who is shown in online videos as the picture of success by all appearances his dreams are coming true in addition to the bags of cash being delivered to him court records show he is sending millions of dollars there's overseas and he and his wife are creating a small real estate empire with thirty different properties including his million dollar house and as you chooses and several houses in Florida finds our of course was in addition to buying real estate he was buying cars and boats including yacht he uh-huh for our easy by three BMW's he bought of course a lot of money to burn tech free begin in Brazil at its peak it has one million members there and as the Youtube video show those members are as enthusiastic as any impossible maybe that is until June two thousand thirteen when a court decision makes the news this again we it is a Brazilian court issues an injunction freezing telex freeze assets and shutting it down in that country because the Brazilian court has Rooted Telex Free is probably a permits game immediately Merrill pose a reassuring message online the US market for still growing like crazy please continue.
"billion dollar" Discussed on American Greed Podcast
"Can you expect from squawk box in a podcast let us on CNBC DOT com slash podcast apple podcasts or on your favorite podcast APP subscribed us secure a better life with his wife and daughter so he takes out a loan for ten thousand dollars I received the money for the bank and I went and give it to my brother's friends and the hand the whole cash in town West Boston Rosemary to Rico is a dental hygienist originally from Bolivia whose rush is careful with your money there was always thinking about saving for the future of my son I can go out and enjoy a good meal or a dinner with my friends or against save them money and then she's invited to a dinner party people were talking about aww telex free and always been curious and I asked him when you guys are talking about what does it tell it's free she is told that it is an amazing coming up they said three months later they got money back we doing anything other just post then for twenty three minutes into computer and that was that to Rico is convinced and invest four thousand five hundred dollars and then every day she dutifully poster ads online just as hundreds and then thousands of people are doing in houses and apartments in communities throughout Massachusetts and they thought that they were working for this company there were tax free employees that's how they saw himself that they had a job where they changed few ads in this computer and they will receive money into bed and to Rico says it's not hard to find people claiming to get rich from extre- pull someone Mike they're loaded now because they have the money from the house in New Hampshire I said Oh my God and everyone were thinking if they can do an why can we not but she is falling for an old trick because the money making is coming from New People joining and that makes Telex Free Not just a pyramid scheme there's no actual products being sold there's no he'll revenue coming in it's just money going around in circles which is basically a ponzi scheme as Teluk Free Gains Traction James Maryland close ones Ellard move into public view through videos posted online and the federal prosecutors the videos reveal how different these two partners Are One Zeller a real extrovert handsome guy kind of charming comfortable in front of crowds very few sieve and emotional James Merrill much quieter appeared to dislike crowds wanted to be more focused on the business side of his ventures and less on the social side but their biggest difference may be in how they perceive their business it appears to us that ass to Carlos Zeller yes I think he you from the beginning that it was one big scam but for James Merrin there is this belief delusional optimism that things would be okay that it's just grow more and more and more they grew more money would come in to pay their obligations but neither could know what a monster they've created in early two thousand thirteen just a few months after she joins Telex Free Rosemary to Rico has every reason to believe she is making big money every day she signs into the telex free website and checks her balance and just as promised her bottom line or credits continue to grow that is how telex free pays its members in credits they are like reward points programs telex free one hundred credits equals one hundred dollars you could cash out these credits for dollars you'd ask telex free and they would send you a check but expre- strongly encouraged people to leave the money in the system in the form of credits and that's what to Rico does only leaves her money and telex free she adds more and more we put another forty five hundred and then couple months later was it achieved money's coming back so we put another fifteen thousand your venture lady she turned over sixty thousand dollars to Telex Free Oliver Savings and each time he makes a deposit she takes cash to a couple in a nearby town the amount of money they were getting and Gosh everyday a West grace you've ridiculous they are telex free recruiters and recruiting is whether real money is intelligence free because recruiters get paid a bonus for every person they recruit and a bonus.
"billion dollar" Discussed on American Greed Podcast
"Hi everybody I'm becky quick along with Joe Kernan and Andrew Ross Sorkin welcomed the squawk pod from CNBC that's right we are launching a podcast every day pod brings you the best stories debate analysis from the most powerful show business news you'll hear interviews from our guests special behind the scenes content and the latest headlines every walk five today this is the American greet podcast presented by CNBC. I'm Stacey q In this episode of American Greed Carlos One Zeller and James Merrill become Internet hotshots through Videos there's these kinds of videos go viral sodas the scheme unless like a religion people wanted to invest every single last penny they had spreading their message to almost every country in the world they con- one point eight million believers to Jellab three billion Auburn on their bogus business with another forty five hundred and then couple months later had achieved monies we put another fifteen thousand and back fraud headquarters their victims money is piling up we have stories of people showing literally deference of cash and where do investigators find the stolen millions where else in a mattress.
"billion dollar" Discussed on Stories Behind the Grind
"An impactful business uncovering insights strategies and tips to help you increase profitability and developed a throbbing team culture the stories behind the whole class because you're the founder of billion dollar buddy helping men reach their potential in health power and confidence top of thirty on the thirty influenza and especially touched up six hundred clients. Tell me what was it like growing up for you. In the idea of billion dollar buddy come from he had a really good question man. A lot of it was came from my struggles as a businessman. My Dad was business owner. I got to see what he went through when it came to half bring business home in in how business in finances really affected our family life in my uncle was a business owner as well and both of them got really crushed two thousand eight year in America when economy basically collapsed and allow the service based businesses and product based businesses really took a hit because people in just spending money for no reason and so my life like man. I had a lot of problems with my parents splitting up when I was a kid and got a lot of anxiety from them. I didn't really know what I wanted to do. I didn't know how to make them all happy but through that process also learned a lot of things like I said my dad being a business owner. I learned that you could just exchange value for dollars at a young age so I can make money on demand. I had a many times before the age of ten thousands thousands of dollars in my savings account because I just go out there and mow lawns and we'd wack and do these things to make money but I didn't really have a reason to be a business owner and entrepreneur besides to provide for myself and me and my dad had a big falling out on us about thirteen years old. I didn't talk to him for about three and a half years in throughout that period I lost pretty much any vision that I had for my life on top of that graduated from high school the one point eight. GPA enduring that process I gained sixty pounds so now we help these men become become three dimensional will be call it was prospering health wealth and relationships mostly because through my journey and failing over and over again. I realized that there are three things in every man's life that cannot be outsourced and if they cannot be outsource. We should probably get good at them because we can't run away from them. Those three things were their relationship with their intimate lover right there. You have relations with your family. Your friends people that are like family then a network you have your health which is mental physical spiritual emotional and nobody can help you plan to follow but you physically can't have someone eat for you and you can't have someone move for you and then when it comes to wealth and being provider as man. I worked works specifically with Manual on businesses and I knew that it was our moral obligation to cast that vision and to build something that's growing whenever rechargeable potential so throughout that the process man I I really failed in all those like I said sixty pounds overweight one point eight. GPA and even when I got into business I didn't produce more than three thousand dollars a month for three years. So my goal now is to take these men there on a similar journey to help them gain the skill sets gained the network and gained brotherhoods veiled empower them to be able to actually prospering those three areas of their life differently helping men take back control of their health wealth and relationships definitely help them to be better versions of themselves or if they aren't doing that right now like they're literally living life in a way that agitated in a way where they're not happy and I already know this because that was me like no matter what how how much you achieve money wise. If you're not feeling every day like legitimately you'll still have insecurities. You'll think about your money when you're out in public but nobody at the gym and nobody at your daughter's birthday party cares about how rich you are because in each environment. You're only honored for certain things like at the gym if you're not fit. No one cares about your bank now. If you're a business event no one cares how fit you are like you matters Yup when you're at a relationship thing like people Lincoln about relationships and so no matter what like like all these areas of life 'cause insecurities if we don't feel confident feel like we have control over them and so really it's like I know already that people are struggling with it and the reason why is because I went through it myself man. It was definitely a tough journey and I appreciate you creating spaces like this so that people can have breakthrough have to go through the three years of crap that I went through to just build a business like they can legitimately take the ceiling that you and I have and make it their floor that they start out differently official. Are there any common areas out of health wealth and relationships. Are there any ones you try to focus on first. We know helping men so I really focused on the actual personal development meant the man because I truly believe that the man who shows up in the situations of health wealth or relationships who that man is can transform that specific result the really focused on what they wanted life. Why are they doing what they're doing and how can retire like what they want out of life why they want it to actually get them to do the things it's GonNa take to go out there and do it so very much so focused on the man I and generally like that's around wealth sixty six percent of our twenty four hundred members want to you go out there and actually build make more money. That's the number one reason why they come in so the big thing for us is like we give people what they want and then actually we sell them what they want to give them what they need and so we show them that hey like without going out there and transforming yourself transform your relationships transform your health. You're not going to go out there and build that business that you walk but definitely focused on how can these men gain power and confidence themselves so that when they show up in that area of their life their health the lace ship for wealth. It's really not either of those fridge man. Their motivation to become powerful and confident is different though I do focus on the man because I truly believe that if I were to take someone like yourself at WHO's as all these expertise is if I take one of our guys that don't have expertise scenario that you have an expertise. If I were to put you in their situation you would make it work like you know how you feel confident. You feel powerful. You understand how to create results in those areas and so really trying to figure out what results they really trying vinik create right now we focus on them first empowering them giving them the confidence giving them clarity of vision and then equipping them with the actual tactics to be able to produce results. It's definitely not come back down to the character and identity component I in full months. You're GONNA have all the skills at all the tactics but you've also be the character that can wheel Bosio tools and tactics to make progress forward kit tools and tactics or not what are missing right now for anyone's life. What we found is that every single man knows that they should probably be eating healthier and probably should be getting more exercise to become fit. They already know this but they're not doing it and so we really focused on. How do we get men to take action on the things that they already know? Go produce a result and then go learn something new. We call it just in time learning. They learn based on what they need to know today. Day like to solve the problems today not based on like some theory that they're gonNa have five years from now. We helped him apply things they know get results and figure out what problems do they need to saul all today that are going to move the needle forward. That's the IVA comes that sort of an unparalleled by analysis having too many options and intimate knowledge going on the head. Nobody's going to execute on any of them with just in time learning. It sounds like it's people can then. Oh Man can apply almost tried bicycling win. They needed as needed right now. Now one hundred percent man a really good point in. I used to think back in the day that I needed to be really successful. I'll tell you the truth. Actually I used to think think that before I go to the gym. I had to be. Super Fit like this was one of my earliest fears. That just made no sense. I remember being about sixteen seventeen years old and I was like man. I want to be fit but like I'm too scared to go to the gym because if I go to the gym and I don't know how to use the equipment and I'm just not that strong. GonNa be embarrassed so I was like how can I get like strong wrong and fast and fit without going to the gym and at the same thing happens in men's lives. Were were like man like I'm just not successful enough to show up to networking events I. I just don't think that I make enough money to invest in myself. I just don't know of like I'm ready for a relationship because I'm not that good relationships yet and the biggest problem around. Is that the it keeps us from doing the very thing that's GonNa give us progress and that's what happened to me. I was scared to go to networking events because I was a carpet cleaner for two and a half years dude. I've made twelve hundred sixteen hundred dollars a month for two two and a half years working fulltime a physical Labor job and I physically was too scared to go to networking events. I didn't know how to invest in myself. Ralph and that's what caused me to fail. I thought once I become successful than all invested myself once I become fits then I'll go to the gym once I know how to master astor. Relationships and unperfect then get into a relationship problem is those days will never come unless you take action. Do remember the moment that you made the switch that demand the realization that you didn't have to be super fit to to go to the gym yeah so this is the thing is like people are always looking. I was looking for this like silver bullet. Of How do I break these insecurities off. You know what I did. Starting Al is a stepping stone to where I'm at today so what I did I is. I went to a city that I knew I knew nobody at and I got a trainer and I went out there and for a year worked out with a trainer in a city that I knew I knew nobody because I didn't care about like random. People judging me that I didn't know I was afraid of running into my friends from high school. They would think it was a loser by didn't know how to work out and and those were insecurities like those were immense insecurities and the people that I'm talking to you right now like we all have different insecurity different areas of our life and I'm not afraid to talk about it because this is what's helping our other guys as well so I was super insecure about founded city that I go out there and take action and get help and I didn't feel like I was judged so for people that are thinking like like whether it's relationships or health or well right now think about cave. You are feeling insecure in these areas. Who could you talk to you know like one of the big things that we talk about. is allowing your mass to become your message. How can you tell the overcoming story like the things you've struggled with that will get people to relate with you and then from them relating with you you can lead them to an answer and a lot of people are like oh. Does that mean that like if I'm struggling with something right now I should broadcast it to the world. I'm like well dowd kind of be like me back in the day. Go into this really fit jam with all my friends. I just wasn't there yet and so that's not where you're at then find one person that maybe doesn't even know you. I thank call a random person..
"billion dollar" Discussed on American Greed Podcast
"And thinking what the heck did you do. How could you be so stupid. I mean how could you be so naive. I do think this is this is great. This is the opportunity of your life. One friend called me and say you know what happened. We Alex folks free. I say no what happened in. They say they stalling everybody money. I say why that's the only money I have to fix my problems big problem. That's my life. Within within twenty four hours of the bankruptcy filing agents from Homeland Security raid the telex free headquarters. They seized hard drives that contain every transaction action made in the two years of the company's short life it is clear that the deception will soon be discovered and then Carlos is one dollar makes a move the very day that the agents searched offices Carlos Juan Zeller uh meets his daughter WHO's at a local mall he packs a bag hops in a car and has her drive him <unk> over the Canadian border to Montreal where the next day he gets on a plane Ria and he has not left Brazil cents in little more within two years one hundred seventy thousand people in the US join telex free and additional victims can be found in every corner nerve the globe there are seventeen thousand in Uganda close to three thousand in Afghanistan Twenty six thousand in Russia China more than Ninety Indy Thousand Bankruptcy Trustees Steve Dr. We had a number of farmers in the Dominican Republic who not only mortgage their our farms to participate but they pledged their future cops to participate in in this game and the only person in the US facing criminal charges as for all this damage is James Merrill his defense. He actually wanted the company to succeed. He tried to fix it but that doesn't fly with with the prosecutors who point to Meryl's Youtube appearances like these as evidence against him but James Merrill needed to do was walk out the door and he chose not to do that and at that moment is when he decided that he'd rather run a criminal enterprise and not tell anybody to criminal enterprise instead of simply leaving and so he pleads guilty to charges of wire fraud and sentenced to six years in prison he finally acknowledges knowledge is that free is a pyramid scheme in this case. Mr Merrill acknowledged that he was with Lee Blind directly in the in the face of obvious facts he wasn't paying attention to them and his friend cross one had a different idea about where this is going and to a large degree Carlson Zeller Used Jim Merrill to accomplish his goals through their attorneys. Both James Maryland Carlos ones the Klein interview requests from American greed at this point. One Zeller is still in Brazil well. He seems to be doing just fine. He's not in custody. It appears that he is under indictment in Brazil for running the telex free game so he will be prosecuted there but he appears to live in a high rise in Vitoria Brazil and just go about his business day to day but what ones Eller does not know is that federal agents in Brazil loosening to his phone calls from his conversations. US authorities learned that one's honored is sending currier to pick up money he has left in the US until homeland security investigations sets up a sting the hand off of the cash is to take place in a parking lot and and so it was on that night January fourth two thousand seventeen that they censor balance and they waited for a person to show so behold person shop at any red SUV and delivered a bag put in the trunk of the car along with undercover Asian of two point a two billion dollars shortly after the person delivering the cash is arrested Cleber Roshan who was once a promoter for telex for Brazil will now. He is doing one others dirty work. It turns out that Russia has been here twice before helping ones alert collected elected cash want the county dieter tuition vis. No you know with the potential criminal charges. Russia decides to stop helping Carlos one seller. He provides the address of the apartment where he says there is some cash but no one could imagine just how much when the Asia and searched the apartment they find a box spring mattress dubbed with money approximately twenty million dollars in cash and we thought that might be a million dollars out there air but staggering that theory that much cash out there but those millions of dollars do not belong to Carlos one Zeller Zeller. That money belongs to these people every few months the Chelsea collaborative holds a meeting to update the telex free victims. I'm Steven Dr. I'm the court appointed trustee. The bankruptcy trustee informs them that so far he is be covered one hundred sixty eight million dollars's it and then he is also going after the top recruiters who made off with the bulk of the money. We're trying to recover money from the winners. The people were took more money out than they put in but what concerns many in this room is not just the money they lost but also the people they brought into the scheme for that they placed blame on themselves as hard for me because you know man of the family in his higher to look at my wife. Dora in C- in our investment all the hard work what we did it goes to drain on the day that James Merola Merle sentenced gladys big represent his victims and get a chance to speak to him directly in basically looked at his face. You and I said you stole the dreams and the hopes of these people. You don't deserve six years or whatever whatever they're negotiating. You serve to be in jail for life I for me. It was one of more moments because because these people really really care about this company and they literally gave all they had and for the prosecutors the tax free fraud is one for the record books the success of the permits game and the speed with which it grew who took over the world is unlike any other fraud case. I've done in about fifteen years as a fraud prosecutor to do that much damage in and that short a period was really amazing and just showed you how dangerous these kinds of scams are thanks for listening to the American read podcast presented by CNBC. I'm Stacey Koon at Matthews Asia we uncover unique companies across Asia prime to benefit from consumer trends that brought her international funds miss find out what a dedicated allocation to Asia can add to your portfolio at Matthews Asia. Dot Com slash opportunity..
"billion dollar" Discussed on American Greed Podcast
"The forum of credits and that's what to Rico does to not only leaves her money until three she adds more and more we could another forty five hundred and then couple months later was it achieved the money's coming back so we put another fifteen thousand eventually she turned over sixty thousand dollars to telex free Oliver Savings and each time he makes a deposit. She takes cash cash to a couple in a nearby town the amount of money the way getting in cash every day a West grace ridiculous uh they are telex free recruiters and recruiting is where the real money is intelligence free because recruiters get paid a bonus for every I recruit and a bonus for every person that person recruits and that continues down six levels Mark Albers is senior your staff accountant for the SEC Boston. It's a way that you can exponentially increase the money that is coming in for virtually no effort on your part other than your initial recruiting of people directly below. You and recruiters all have one requirement. You cannot write a check can he can no use a credit card. He had to be cash and why cash only because recruiters figured out how to game telex free three when a new member comes to a recruiter they often pay thousands of dollars to open multiple accounts once the accounts are opened the membership fee for those accounts announce needs to be paid to Teluk free but the recruiters do not pay free with the new members cash instead they pay using credit they accumulate by recruiting new members and they pocketed the cash. Ultimately a lot of the money didn't actually go to telex free three was going to the high promoters. There were promoters at the very top of the pyramid who were making a lot of money out of the game and with so much money to be made aide signing up people for Telex. Free recruiters begin to open their own offices in storefronts welcoming people off the street. It was truly a secondary market in which these storefronts top up in towns with large immigrant communities where people would come in with bags of cash and just you pay these pre existing members of telex to sign them up but to make these transactions work recruiters need lots of credits and suddenly suddenly credits are in high demand. They become a form of underground currency. People were paying loss of cash off off his credits because those credits were the key to get your compensation Rosemary to Rico is shocked when a recruiter shows up at her door and want to buy her her credits. Keep brought to my house sixty thousand cash. I said I don't have that amount. You know I said I we should have that amount and while there are thousands of people capitalizing on the telex free credit boom there is one person with a particular advantage Carlos one Zeller according to federal prosecutors. He is running a kind of insiders club but he manually add credit two friends accounts. They collect cash from new members and deliberate to him. It was almost a way to embezzle money out of the company and we have stories of people showing extreme literally duffle bags of cash and it appears that one seller was able to extract from telex free millions upon millions of dollars in the old days before the Internet predatory frauds like telex free relied on in personal relationships to spread the word of the scape but that was then and this is now right from the start James Maryland Carlos was one zoeller turned to social media to promote their amazing opportunity. This is truly twenty. First Century fraud when we first started looking at the scheme we went online and looked type telex free into youtube and there were thousands of videos so youtube facebook book twitter had the ability to just exponentially increase the awareness of this scheme overnight. Almost some of the videos are made by telex free designed to explain how the business works for thought possible win favours the others keep members updated on changes in the company but it is not long before people watching the videos realized they can cash in on the company who all they have to do is set up their own telex free website like this one. They would walk through what the compensation plan was. Walk Walk through how easy it was to post the ads and then tried to get other people to sign up for them. Sites are the online version of the storefront and immigrant Gra neighborhoods setup by people who see your chance to make easy money with telex free and through these sites the telex free message takes on and life of its own youtube will make you famous overnight but now we can see that youtube can also make fraudsters rich overnight as well just just months after his launch telex free promoters show potential members in internet videos it has staggering following designed to attract attract new members the videos document popular telex free events called extravaganzas this video shows and event held in Brazil in two thousand twelve but they are all strikingly similar interviews with big winners offer evidence of money being remade and Maryland ones are portrayed as hugely admired celebrity businessmen do Mary.
"billion dollar" Discussed on American Greed Podcast
"What kind of Tech Company does the world need today one that applies smart technologies at scale with purpose and expertise not just for some but for all with a I- blockchain and quantum technology. IBM IS PARTNERING WITH CLIENTS TO DEVELOP SMART scalable technologies that help businesses work better together. Let's expect more from technology. Let's put smart to work visit. IBM DOT COM slash smart to learn more this is the American greet podcast presented by CNBC. I'm Stacy Keach in this episode of American greed Carlos Ones Alert and James Merrill become Internet hotshot through videos like these is they peddled a dream. Come true work from home opportunity to people people who are desperate to succeed. Never four people keep the head toward three job and there's these kinds of videos go viral sodas the scheme unless it's like a religion people wanted to invest every single last penny they had spreading their message to almost every country world they con- one point eight million believer to Jellab three billion dollars on their bogus business. We put another forty five hundred and then couple months later we had achieved the money's so we put another fifteen thousand and back at fraud headquarters their victims money. Money is piling up. We have stories of people showing literally deference of cash and where to investigators find the stolen millions whereas in a mattress.
"billion dollar" Discussed on Founders Talk
"You might run into more of those things. But if you're not I mean, there's plenty of opportunity, and actually, I think with, with being so transparent about Gomert. Sort of signaling to everybody. Like look is not that big. Don't try to compete with us. Go solve another problem. If you really wanna build a business, like, don't worry about this one, you know, and that's happened. I've had people reach out to me that are like, wow. I had no idea like the market is so small, it is it really is. It's like I'm not saying it's tiny certainly, there are companies doing well, but if you think about the only really two platforms that are considered billion dollar companies, that are sort of build upon serving creators, which are basically YouTube, an immigrant, you know, they're not doing any commerce because they came on like they would not. I mean, now they are interim is a little bit. But really, if you're trying to monetize content creators, maybe Spotify, you know, arguably to YouTube, Instagram, stumbled into those businesses totally. It's not even the thing that they do right now. Like the number one use case for YouTube is music videos, right? Can advertising. They're advertising dominated anyways, the end before that it was sort of user generated content. It was the word creator didn't even exist back then. Yeah. It's. It's a pretty fascinating, too topping for discussion. Let's go back to the idea of conquering, you'd mentioned, Peter Thiel and having to conquer and own a market, then it always kinda can't on this phrase that sort of describes our DNA at least is that you don't go round building a nice city, but not can people's buildings down. You know what I mean? So I get that in capitalism to be a winner, you know, for every Uber, there is a lift, for example. And at some point, one of those two brands will be the quote unquote winner. Maybe they can coexist. I don't know. But the point is, is that I don't feel like it's my job, or my duty to build this business, and I kinda feel maybe feel the same way with gun road. That is not your business to go knocking people's buildings down. Instead, I wanna come by and I wanna say, hey, good to see a buddy your street. Let's fix that for you. Can I help you pay roads better? Can I nurture your community better?.
"billion dollar" Discussed on MacBreak Weekly
"Remind you that all the west wing thing where they said they caught the terrorists because of a broken tail light. And the guy said, sir, we've discovered over the years that no amount of manpower or money equals criminals being stupid. Yeah. Well, and the NYPD may be jumping the gun because they found that ide- they arrested the kid, and then it's according to the story and engaging the detective that eventually examined apple surveillance footage old fashioned face ID noticed that the guy they'd arrested in look anything like the guy that was making during the robbery plus turns out the kid was attending his senior prom when the Boston theft happened. So sounds like he's got an alibi. I don't know if he's got a billion dollar case against apple. Yeah. But they're they're going to be more problems like this, especially since the EU just voted to voted to move forward on new regulation. That would basically unify the entire like biometric database for law enforcement for everybody in the EU s so and considering that so basically if if one of these databases has a false match, everybody's going to have a false match on you and given that we've already demonstrated that not all face recognition systems are half as good as they are in the movie. And that if you are not white you might have a problem being matched with somebody else. Because the it was fly these systems were trained on white faces a not enough non faces. This is going to be a problem. And we're going to see more people who are not whose lives are turned upside down by mismatch. And then quite quite quite with with with absolute. With absolute good reason are looking for somebody to sue. Yeah. It was hilarious to me. Because like we saw the whole controversy with jet blue using face instead of passports, wasn't that interesting. Get on the plane. They're going to do is face ID face wreck. So weird experience where I I have nexus..
"billion dollar" Discussed on WSJ Secrets of Wealthy Women
"So I just think that financially people just don't take seriously. And it was just a matter. I know that I had to take baby steps and getting my company started I had enough money to really get the resort in Middleburg built. And to really prove to people that I knew what I was doing as far as the construction watching over the construction costs the design work, which I did in bringing on the right team of hotel people once it was up and now it's just getting so many accolades up to seven hotels. So it was just a matter of having the patience in really helping people understand what I could do. And then putting together good PR marketing team to really get the brand out there really building the brand. And that's what's really important. You N Robert saw BT divide calm for three billion dollars. What's the most important lesson? You've learned about handling lots of wealth. Well, first of all, you know, the three billion dollar. Mark sounds terrific. But we had a lot of debt we had to pay off our angel investor. So when you take all that out who still in the billion dollar category. But not what people think and then at the divorce it got divided up, of course. And when you have that kind of wealth, you still have to watch your back 'cause they're people that wanna bring business ideas to you. They want you to invest in that I learned early don't do it. Because again, people are just taking advantage of you. And they've been one or two things that I've invested in that is really didn't pan out ridiculous. And so I've learned to say, no, I've just learned to say now and really put my money into things I'm really passionate about because once I was able to. Get the business started. And I learned this phrase the Ted Leonsis taught me about watching the double bottom line. And it's really once you have a successful business. You wanna learn to give back, and when you give back to community they're going to get back to you. So I find things that I'm really passionate about. And it says you -cation, you know, I did the building at the Parsons school of design because I just thought it was one of the worse pieces of real estate. I'd ever seen the kids that are so passionate about design would work in and it was just unacceptable. And so I came up with the plan within president carry to be able to give a sizable amount of money to rebuild fifth fifth and thirteenth street design center for these students, and because of that be look across the street. The new school is now absolutely magnificent. We have the making center inside. It is really transformed the school the school has been transformed because what I was able to do gave impetus to others to be able to donate money to the school so education. I'm very passionate about I put together put through school the Kennedy School at Harvard. It's now forty students now on my fifth class. It'll be fifty students in the end, and these are students from underserved communities that are really going to change the world..
"billion dollar" Discussed on Business Daily
"Jeremy mizen is helen hamlin professor of design at the royal college of art here in london i started by asking louise mosenergo what the logic is of projects like that of apple building a huge campese hq outside of a major city there was a spate of building of these kinds of headquarters in postwar a united states in the 1950s and '60s and into the 70s early '80s so this is not unprecedented as a model some early examples were connecticut general which was in bloomfield connecticut outside of hartford uh certainly the deere and company administrative centre in moline illinois they were all very much landmark projects with very prestigious architects and landscape architects who worked on these berries or glamorous buildings what's interesting is that there was a real diminuation in building of these types of headquarters as american companies became sort of less dominant globally and had more competition and had a greater assertive sensor responsibility to their uh you sort of immediate returns on there um shareholders and so forth but then steve jobs served changed the equation again and and i think it's has a lot to do this reintroduction has led to do with his particular moment in life it his last public appearance was at in front of this cupertino city council to present the projects the monument his life at definitely very definitely is it oneupmanship women is has steve jobs set in motion something here because we've we've seen google amazon facebook all try and build their own big cobra headquarters as well yes i think there's a huge irony fat.
"billion dollar" Discussed on Business Daily
"Hello i'm on wait outside also and this is business daily from the bbc coming up should corporate headquarters be a monument to accompany success some of the world's biggest tech company certainly think so tech companies most of them starting garages which were very humble very flexible and adaptable now they're building extravagant policies of commerce but what they're saying is where here to stay but all day we're reading the architecture here in business daily from the bbc the titans of the tech sector apple google amazon facebook or rebuilding multibillion dollar headquarters in silicon valley and also in london apple being apple is of course leading the way constructing a mammoth new office in the californian town of cupertino so big is this new headquarters that it's been dubbed the mothership which is kind of accurate given its estimated price tag of 5 billion dollasr and it's sheer scale it set to rival that of ancient egyptian monuments constructing new headquarters is supposed to be about creating the world's best working spaces but is it really just about cooprate power over to lucy callaway of the financial times over this summit 12000 apple employees will start to move into the new company h q a great disc of a building which has been eight years coming and is said to have cost five billion dollars making it the world's most expensive office apple park is steve jobs lost posthumous geraldo as a vanity project has roughly on a par with nicolai ceaucescu's people's palace in bucharest.