20 Episode results for "Carla Harris"
Carla Harris: Black Lives Matter @ Work
"Welcome to business scale insights with Kimberly Bonner listen for commentary interviews a formation on how to grow your business for all the details contact business scale insights. Network Dot Com. So, empire builders! Are you ready here's? Hello and welcome to another episode of business scale insights I'm your host Kimberly Bonner and today it is my honor to have the CEO of the people. Institute Carla Harris with me to talk about black lives. Matter at work, so thank you so much for joining us today. Pay Cham. How are you? Thanks for having me absolutely I'm good. would be better when this covid nineteen. All this craziness of the world goes away, but we're plugging through. Yes, yes, absolutely I. Know you very well, but the listening audience does not so please share a little bit more about yourself, your background and more about the work of the People Institute. Absolutely so the People Institute is a training and Development Organization and our goal really is to work with teams. In the area of Communication, leadership, development, and just overall really helping people work better together We've been in business since nineteen ninety-seven and our goal even in this Kobe time is to. Is To offer instructor led training so now, of course we're doing it via the virtual platform, but human to human interaction really is our sweet spots wonderful wonderful, well, one of the many reasons why I invited you to talk with the listening audience today is we work with I? Work with businesses, large, small and everything in between and We've got a lot of unrest in the. The United States right now. I'm clean, covert nineteen, and also we have ethnic issues of specifically the black lives matter kind of protests and just related to police brutality, a whole lot of other things. And I thought it would be remiss if this podcast did not provide help tangible health for people whether it's trying to triage covert nineteen or now right now when it comes to I think. Almost the the humanity kind of. That we're facing in America today, and so when I reached out to you I, did it because I know your work and the people in with the people institute I know you're working kind of HR. Circles humanizing business and I think it's so important for. US to have these very might be very difficult. Sensitive conversations. About, yes, diversity and inclusion, but also this issue of black lives matter because I I I wanna just kinda pause before we kind of go and delve deep into this interview, but one thing I want the listening audience to understand I. I'm not talking about. Black lives matter as a political movement. and. We are not talking about black lives matter as an organization. Does I don't know the people involved I. Don't think you know the people involved car. We are not co-signing that at all, but we are talking about black lives matter as a statement of fact. Black lives matter as a statement of truth. And how to make that how to live that truth? Consistently. All Day every day whether it's in the work space in the board room in our communities, so that's I wanted to kind of make sure we got that all clear and that disclaimer because I know there's a lot of confusion about those words, and it's a lightning Rod, but if I hope none of my listeners confused that black lives matter period. Right S with ad set. A lot of people because of what's going on with you know. Ethnic racial unrest? a lot of people have been talking about diversity and inclusion in the workplace, and I know you have a long rich history in that space, and so can you share for people? The listening audience who might be new to this? What exactly do those words diversity and inclusion really mean? So. Absolutely, I I wanted to go a little literal. When I as I was preparing for our conversation. And just by definition. Diversity is according to Webster's dictionary. The condition of having or being composed of differing elements and inclusion is the act of being included within group or a structure. So when you think about that as as you. If you transfer that to the workplace, you're thinking about the having diverse perspectives, having diverse beliefs thoughts ideas. Included within the structure of the corporate environment so for, and that would be from the bottom, the front line trench workers as I call them all way up to an including. Active leadership and even board leadership. So when we think about that from a workplace, it really is embracing all aspects and values and perspectives of what people bring to the table. I love it. embracing all aspects and values of what people bring to the table eleven. So you know at first I was GONNA. Ask You about the black. Lives Matter Movement. And, because there's been so much controversy related to that movement. I, don't I don't WanNa. Talk about that. Because people people conflict eight the movement get really bogged down in what's going on in the movement versus the statement. Right and I just WanNa, really narrow our conversation to the statement. Because sometimes you know in HR circles. You things get a little confusing. Is. Is the black lives matter kind of concept? You know is that? a legitimate part of diversity inclusion discussions at work. I think it should be. and I agree with you and not wanting to. Even have the the head of a perception about being politically correct or incorrect. I think this is from a humane perspective right? This is you know it's funny how you started out with you know humanizing the approach because for the people. Institute that's our Tagline humanizing business and developing relationships, and you cannot have one without the other you have to understand. How value people in order to have a relationship with someone and. I think the I believe that. Yes, black lives matter as three words. As critical, because if we're going if a company is going to appeal to the community at large whether it's through selling services or products, they have to understand the diversity of the community and the end user that they're selling to. We cannot and we've seen it. Oh, my goodness, time and time again when there is no black voice at the table, the vast cultural mistakes that are made through marketing that are made through product development. The? Mistakes that are made when people don't really listen to the voices, and they go by their own influences. About what they think about the black race. So. Again a couple of statistics when you look at the bottom line. Our spending power and the African American community. Jumped from nine, hundred, sixty, one billion in two, thousand ten. To one point three trillion. In two, thousand eighteen And eight years think about that a one hundred and fourteen percent increase. Since twenty two thousand. That's a lot of money. And if companies aren't willing to invest in their team and invest in a broader culture. That is a huge margin that they are missing are huge market that they're missing out on. So absolutely it matters in the workplace. Not just a you know if you if companies say okay I don't want to deal with the people. Aspect of it I just want to deal with the money. How much is this going to get me in return? Those numbers speak for themselves. They do they do? but you've seen a lot of of businesses. In an attempt to try to address the ethnic divides in America. come up with these nice social media slow. And hashtags in commercials. And black lives, matter has become a a a wonderful Hashtag and slogan that a lot. Of businesses are getting behind because of kind of the truth of the statement, not necessarily the movement, but the truth is a statement. The problem though lies in. If indeed these companies truly believed black lives matter. Is that evidenced in the workplace in business. How how is that realized in the workplace is? Is it more than just a PR slogan? A marketing campaign? How can we can get a a concrete strategy for making that statement of fat black lives, matter or reality in the workplace? So the short answer is yes, it's definitely more than a PR. Stunt is definitely more than checking a box. it's you know when I have when I've had these conversations with companies around. What do I do? That's what they ask us. What do I do? How do how do I do this, so my first question is? are you serious about? really changing. The narrative within your organization. That's the first question. It or is it just appeared stunned because we have to get beyond that, and then are there mentor programs are their sponsorship programs within organizations, and these are some of the things that companies can put in place. What are the strategies for developing the skillset both the essential skill set which are most commonly called soft skills. What are the Any kind of. Skill sets that need to be enhanced or developed within. Their team members are we having discussions are companies having discussions around cultural languages? Are we encouraging team members to have respectful and ethical dialogue around fully understanding what a person brings to the table so? There are some hard line strategies that pitted that companies can take, and it's not just an HR issue. Culture begins at the top Eritrea. And Culture is very different from policies and procedures. And what we're talking, we're we're. We're thinking about companies who really want to invest in moving out of the space of exclusion. Than it, it starts with the culture at the top. It starts with advancement opportunities. It starts with exposure. To high ticket clients. and. We know that there are the majority client I mean majority leader's who hand pick their. Sales, people for example and say okay. This is the project I want you to work on. And they typically go to people who look like them and what we have to do is begin looking at people for what they bring to the table verses how they look or what their names are, and that's really where we have to get involved with. Some specifics are the specific changes. People want to make Okay I. Love that you talked about specific changes that people WANNA make it starts at the top To clients high profile roles, opportunity, mentoring, etc, and so forth. So. That makes me think okay. That requires a truly a commitment from the CEO the. And the managers and it also requires measurement. Because whatever you don't measure. You can improve out at so then we get into. Is this some kind? Are we going to say black employees or treated in a special manner? Or are we saying that blackened? We are highlighting the need to make sure that we are not. Overlooking. BLACK EMPLOYEES! How how would you address that? Because it's? It's it kind of goes back to almost like the same dynamic. All lives matter versus black lives matter right. All lives can't matter if black lives don't matter correio, all employees can't matter if black employees are the last ones hired. The first ones fired given really subpar resources, assistance and treat it like the help so so. This is this kind of the conundrum that were in so what? What are the specific? Things that you think can help management. Navigate that tricky area. I, my first thought is to separate. Diversity. So that sounds a little counter-intuitive but. When you think when when you fill out the form and you check the box, it says your staff is diverse, so much goes into that, so you have the all lives that matter that go into that box of diversity. So internally companies can separate that companies can really begin making sure that they have a balanced workforce so within that strategy. Yes, we. We don't want to hire someone simply because. Of Their race, we just have to make sure that we're not excluding them and the experience. They bring to the table because of their race riots, so if we're if we separate the box of diversity. And say okay well. We have group ABC and de whatever makes up diversity within their organization. then. We have to look at so if blacks are the be. Ifs African. American is that be in the the the box of diversity. And it's out of fifty percent. It's only two percent or ten percent that we need to look at. The companies need to really make a concerted effort to increase that percentage so that it's better balanced across the board. And they can do that by partnering with Educational, Institutions Partnering with. African American professional associations to have their recruitment efforts be more diverse as well as their I as well as their. Wanting to diversify. The internal. Levels of diversity and and I know that's a lot. That I'm saying I'm hoping. I'm making myself clear. If, we have to separate the majority from those at all the diverse bucket. We have to now focus on separating the separating that diverse bucket to make sure that all. That black folks are represented well within that level of diversity. Does that make sense? Making, sure that black people are represented well within diversity. That's the the measurement. I think I'm I think I'm understanding, but I'm a little foggy. You having more examples so. So let's let's say that Company a has to identify. They are in the process of identifying their Their stat, their staffing ratios and It's fifty fifty, so fifty percents of their staff are. White Americans are White Caucasians the other fifty percent of their staff. Are All grouped together as They're diverse population within that diverse population. You have all the legal. Definitions of what diversity means. Editor, sexual a sexual orientation religious kinds of things. So with an those that diverse population. If you have. Fifty people in that diverse population and the fifty people, only ten percent or five percent of those fifty people. Are, African American. Then it's there needs to be a concerted effort to. Increase the number of African Americans within that organization. Because what happens is the company's leadership can say where very diverse. And they would be on paper. They would be diverse, but are they diverse within? Does that diversity include? African American employees at every single level. okay. I think the part that is really telling is at every single level, correct at every single level and that and that and and and that I think is the problem for most companies. They'll be able to to show you. Yes, we have so many wonderful, qualified black employees that are members of the rank and file staff but those employees don't necessarily. Have the opportunities to your point. or and or the network, for whatever reason because we know informal networks and mentorships and patronage is mean a lot. for whatever reason not because they're not talented, and not because they're not gifted, and not because they can't do the job, but for whatever reason that kind of employment number kind of stays there you don't see it at all levels, so I get it. And wanting to Camp I want to just. Out I want. Your listeners to consider is that. You accompany. A company can have a high level of diversity and have no. African American employees absolutely axial Lena, that has. And that's what I'm talking about. So a company can can tout being diverse and not have one African. American employees think about that. No I. I've I've lived it. I've I've definitely lived that so I get it, so we have to be intentional. Yes, say that we're going to have a diverse workplace particularly in a time where we see a black people dealing with a lot of structural racism. If you are serious that black lives, matter is a statement of facts right, and you believe that at the highest echelons then you need to be intentional and not. Not just say we have a diverse workplace, but we have black employees. These and these black employees have a seat at the table. Correct, curious, okay, so what are the keys for black and non black employees to make this work? Let's talk about black employees, and let's talk about non black employees. Who our allies. What what how can this? How can they work together to make this a reality? So first of all, I want to be really clear that it is not the black employees responsibility. To explain. All things black. In a corporate setting. Let's just out there. Okay, came in sister it. It is not our responsibility to do that. However, I, do think that we have to stand up. And speak. For what is right? Yeah within the organization. And we can't cower to what we think the negative outcome may be. So I I do believe the onus is on us to stand up for what we believe is right And Not Coward to the pressure now for non-blacks. There's a difference between. saying you're not racist and be antiracist. Right so if you're going to really be supportive. You cannot sit in the boys club or the girls. Love Yeah folks. You have to stand up against those things you have to ask questions you have to, and when I say ask questions you have to ask questions of us as black folks to really get an understanding. About. What it is that we need you to do in a specific situation, interestingly I had A. Friend of mine called me white woman. Call me and say what do I say do? Is it Do I use the term African American or black American and I appreciated her coming to me asking me and that she felt comfortable enough to do that. You know they're also has to be a recognition. Of, your own unconscious bias at what knows what what has influenced you in your life and your history to make you the way you feel. Yes. I love that. Let's let's stop there because I want to unpack that we I was I participated on one of your kind of virtual networking events, and we have really interesting guests. Who was the leadership coach gentleman I forget his name and I talked to him about unconscious bias. And I asked that question particularly in light of what's going on in the world. And he said you know Kim a selfish, a critical self-assessment is what we all need to do. And I think for non black employees, non black members of the C. Suite. Incumbent upon you. To do a self assessment because Carlin. I can't do that, right? We didn't grow up the way you grew up. We weren't needed. Go to the same schools. NECESSARILY, we didn't go to the same religious institutions. We didn't read the same books. We're not part of the same cultural bubble. And so if we're going to move forward. With, workplace, equity. And making black lives matter at work a reality. It will have to begin with a critical self-assessment. Of everyone and particularly non black employees and leaders. That's right, because we can't none of this to your point, your original point black people this. Black Boys can't make this happen. if a change doesn't happen in the heart and the mind, then all of our conversations are kind of meaningless. Yeah, yeah, you know, it. They're nice to have, but we can't change anybody's heart in mind that comes from a critical self-assessment. Saying you know what maybe I'll do, have unconscious bias sees. You don't have to confess that to the world, but at least owning up to that yourself. I think if everyone did that, you know what a big leap forward. That would be for America, Carl Absolutely. And and honestly to Cam I do think that in some cases. Hailing begins when it's out in the open. US So I. do believe that there are instances where they have to acknowledge what they're. A biopsies are in an open forum. However, it is because that's when that's when you can. You know sort of like my parents would say you know. The devil you know is better than the one you don't at least you know. From, where the person is coming from, and that is how the real dialogue begins in the workplace, as long as it's done respectfully as long as it's done ethically. with positive intentions. That's how you get the dialogue started. I, love that I. Love The way you've talked about it as as it relates to healing. Because we really do need a healing in our nation Oh, yes, and a reconciliation and work. I worked in a lot of toxic environments. I don't know about you, Carla. Oh, yes, I have as well and When you win win, you would when you have issues whether it's sexism or racism or any other ISM. Creates a toxic work culture. That's very harmful. And deadly. It's deadly people psychologically. It's even deadly to people physically up where their their blood pressure goes up. It gets strokes. Heart attacks all the nine yards, and so we need to I liked what you said even publicly. Kind of talk about the way we have been raised and running. Is that if I'm in a bubble? And you're in a bubble. And we have not culturally met. Than those that experience creates unconscious bias right? That's Ryan and we need to all be better about admitting that number one everybody has unconscious bias including but and Brown and. Everybody else that I know. If, we if we begin there. And give people the Liberty to be able to say yeah. I have some issues and I'm but I'm committed to doing better I think there will be an a healing journey that all of our companies all hopefully you know, all of our communities will be on, but it begins. You know like with South Africa they had truth and Reconciliation Committee Commission. Hurt degree. That's kind of like what you're talking about in the workplace like if you don't deal with the truth. About maybe how you were raised or how you were developed in your work, culture, and the laws of that it's very hard to heal it. He'll anything yeah. You're not you're kinda dealing. Everybody's in the dark and everybody's pretending that we're something somebody that were not, and that's just not true. Not True. So anyway, we we've had a long nice conversation and I'm sure after all of these gyms that you've dropped. They're going to be a ton of people who are GONNA. Be Like Carl Harris. Woman that we need to help us ruch. We got issues and. Healing. Types of services that the People Institute provides that can help address this type of problem. So, thank you for asking and it's really a great segue into our program called being black at work, and it starts with the talk. It starts with a facilitated conversation that we do town hall style to really. Create a safe space for team members to talk openly through a series of guided questions about this very issue, race relations in the workplace and then creating some action steps that leadership is able to begin putting in place to really have a dynamic change so our program being black at work. It starts with the talk, and that's what we do. It's a frank. respectful conversation with guided questions. My Team I facilitate this, and we lay the groundwork in the beginning, and that is. This is the place for you to be. Your best self and ask the questions you want to ask and obviously in covert. We do it virtually. And while we while we do have we. We always prefer that people be on camera. We know that this is a sensitive topic, so there are times where people oh, we, we will allow them to be off camera and just send in their questions. If they're not ready to yet, burke allies whatever it is that they are there. Questions are so that along with all of the training and development that we do around leadership and staff development. It really just works it all works well together, because it's all about humanizing business and creating long term relationships. Yes I love it. I love well. Now that you've sold everybody on your services. That is listening to this. podcast either they're going to know somebody that needs your services, or they know they themselves their company, their business or their organization. They're nonprofit or government. Organization needs your services. So how can people reach you directly if they like to? Work with you today. So our phone number is seven, five, four, two, one, eight, five to eight eight. And our website is. Is your image working? which I know is a little confusing for some folks. Since we're the People Institute, but I always ask clients to ask your question our answer, the question is your image working at what does that mean to you? Because the image that we present to the world is the image that the company represents whether you like it or not. Oh, I love that I love that particularly. If you're telling everybody black lives, matter and you don't have anybody that's right. In leadership in your in your organization, so is that the image that you want to? That's right. I love that I love that well as I knew this would be a phenomenal podcast I. Thank you for Your Time I. Thank you for your friendship. I appreciate you and I hope everyone I'm serious particularly now listen to this podcast over and over and over again particularly. If you know that you're in a toxic work environment, if you are leadership. If you're an employee, e pass it around. We've got to have these crucial conversations and the beautiful thing about podcast. People can listen to it while they're in their car. Listen to it while they're in the shower. Nobody asked to know, but let's try to plant a seed, so we can get so we can really start the healing process, so thank you again, Miss Carla Harrah's and to everyone. Here's US success. Have Crank you for having me Kim. You're welcome. Take Care Five you too bye-bye. If you already have proven business model, but have concerns about the best way to grow and scale. Then you should contact the. At New Day consulting systems new day uses innovative techniques to ten times the impact of Your Business. Your local business can become a regional national or international enterprise. Due date consulting systems will show you. How for more information and to get started with due date, visit the website at new day. CONSULTING SYSTEMS DOT COM, one new day consulting systems dot COM to get your business off the ground and into. Contact new day to day. Business scale insights with Kipper Career Bonner to get her personal attention to. You can't pure fire go to business scale INSIGHTS NETWORK DOT COM. That's business scale insights network DOT COM, and tune in again next week or more from Kimberly Marie monarch with business, scale and sites.
Talent Tuesday: Building your personal brand.
"Welcome to hacking your leadership. I'm Chris and this is talent Tuesday this short weekly segment dedicated to all things talent related before we begin. I have a small favored ask the Renzo and I are in the process of writing next leadership book and we've created a short seven question multiple choice survey to gather some data if you have about a minute to spare good hacking your leadership dot com forge last survey and give us some insight all right for this talent. Tuesday episode. I WanNa talk about your personal brand. Companies have brands including the one for which you currently work. Some people are fortunate enough to work for brands. That are admired. There's not so much whether the brand of your organization is known around the world or just within your particular industry. It's a good bet. There are people working hard to maintain or even raise the image of that brand everyday. People also have brands literally. Everyone does we all have that one friend who we know. We'll be late to the lunch meeting. We also probably know someone who if they were even five minutes late. We'd assume something terrible happen to them because they're just never late. Think about the people you work closest with is there one you'd reach out to. I ask for help on something. Is there one year so against asking for help that you'd literally rather not get an answer reach out? These people all have brands. You have a brand and I promise you. There is no single thing more important to the opening of doors in your career. Then your personal brand a leader and mentor. I highly respect once told me that the most important conversations impacting my career will happen without me even being in the room and his unsettling is that thought might be one hundred percent true. This is because people don't typically WanNa talk about you candidly while you can hear what they're saying especially the result of that conversation might lead to a dropping engagement or performance. They'd much rather you not even know you were considered but passed over for something unless there's a specific fixable reason and they believe you can actually fix it and even under those circumstances it'll be presented to you in a different way than how it was hashed out between your leader in their peers while there's no way to stop these conversations from happening without you. It's absolutely possible to control the narrative by controlling your personal brand Morgan Stanley. Vice-chairman Carla Harris has been using technique for years that I try to live by whenever I can. I pick three adjectives that I'd like people to think of me as I pick adjectives that align with the brand the values and the direction of the organization and I begin to take daily steps to associate myself with them. I find ways to self identify these things verbally to people with whom? I have conversations if I want to be known as trustworthy. I'll ask workers to confide in me and I'll tell them flat out untrustworthy. And that'll never repeat what they're telling me. This calls out the association between trust and ME TO THAT CO WORKER. Who is now more likely to think of me as someone they can trust. Plenty of trustworthy. People aren't ever known as such because while they do the work of actually being trustworthy. They don't do the equally important work of building their personal brand around it. If you're a leader of people or if you WANNA be one having a solid personal brand a requisite to being able to lead effectively it takes a long time to build and only a moment to destroy and it will undoubtedly stir the direction of your entire career. Thanks for listening and have a great day.
VCs are leaving trillions on the table by bypassing diverse leaders, study says
"If you could make trillions of dollars investing in more diverse founders. Why wouldn't you from American public media? This is marketplace attack demystifying the digital economy. I'm Ali would it when we first aired this story earlier this year. I said. Stop me if you've heard this before but actually you gotta to hear this if you missed it. Ninety one percent of venture capital investment goes to men almost eighty percent of those men are white probably because ninety percent of venture capitalists Armen mostly white but new data shows that. BBC's are leaving a lot of money on the table by only investing in people. Who Look like them? Morgan Stanley put out new information. Just this week. That says venture capital as an industry could be missing out on as much as four trillion dollars in value by not investing in more diverse founders yup trillion Carla Harris is vice chairman of global wealth management at Morgan Stanley. She told me earlier this year. The numbers are getting hard it to ignore. I think in the last few years there's been a lot of data that has been released that talks about the value of companies that have more women internally eh or the performance of women lead founders or the successes multicultural entrepreneurs so now I think there's far more data data out there. That is supportive of the argument. That in fact there is something to miss but I think when things have been bumping along you know in fine form form and there was nothing to counter that argument that was not necessarily a motivation on instigation. To change it especially when you're driven by returns I want to move the money chain when you put out a report like this from Morgan Stanley. Are you speaking not just a venture capitalist but also to their investors the limited partners who arguably they are the ones who are holding the purse strings. We hope so molly as part of what we're trying to do is to say not only are you. B C's missing it but perhaps happen if you're missing it you may be leaving money on the table for your limited partners and I wonder do you think that's where the ultimately the change has to come from like if LP's appease all suddenly introduced diversity writers if every pension fund that was going to put some money in venture capital said. Hey my pensioners want you to do the best you possibly can in that means investing. Broadly is that what it's going to take. Well I'll tell you I think that would be powerful. There's no question that limited partners have power in this. Let's see question to also move the needle with the distribution of capital two women and multicultural entrepreneurs no question and you absolutely started to see. There's some of that in the private equity industry where LP's like calpers and Kosters certainly did make a difference though. I think the same could apply here. That's very every reasonable right. The survey says that women earn seventy eight cents per dollar invested. Men only earned thirty one cents. That should be enough evidence right. We should suddenly. I'm sure that in the next next year we will see a flood of new investment when multicultural founders right. Well I won't necessarily say it would be a flood but I'll tell you we would be very very happy to see that happen. If this one report made that kind of difference in the industry we'll take that all day long. Molly Carla Harris Vice Chairman of global wealth management and ahead of multicultural client strategy at Morgan Stanley Matt. Party and Stephanie who produced Marketplace Tech. Jody Becker is our senior producer. Robin Edgar is our engineer. Our intern is hey suzy Alvarado. I'm Ali would this. APM here at marketplace ace. Our mission is to make people smarter about the economy through reliable independent journalism. And your support is what makes it possible whether you donate a little or a lot being a marketplace investor makes you a partner in that mission. If you're already giving thank you very much for going above and beyond and if not. They're still time donate today at marketplace dot org and thanks.
VCs are leaving trillions on the table by bypassing diverse leaders, study says
"Spend less time reacting to incidents and more time building the future and by the Michigan Economic Development Corporation John Romanelli founder and CEO at airspace this marketplace podcast is supported by pager duty in an always on world teams trust pager duty to help them deliver a perfect digital experience to their customers every time with pager duty t there's no question that limited partners have power in this equation to also move the needle with the distribution of capital two women and multiple public media this is marketplace tech demystifying the digital economy I'm Ali would Carla Harris is vice chairman of Global Wealth Management and head of multicultural client strategy at Morgan Stanley the M dot com if you could make trillions of dollars investing in more diverse founders why wouldn't you from American value of companies that have more women internally or the performance of women lead founders or the success is multicultural missing out on as much as four trillion dollars in value by not investing in more diverse founders trillion Carla Harris is vice chairman of especially when you're driven by returns I want to move up the money chain when you put out a report like this from Morgan Stanley are you speaking not just a venture capitalist must eighty percent of those men are white probably because ninety percent of venture capitalists are men mostly white but new data shows that BBC's are leaving a lot of money on the table by only investing in people who look like them Morgan Stanley put out new information just this week that says venture capital as an industry could be that's where the ultimately the change has to come from like if LP's Al- suddenly introduced you know diversity riders if every pension fund that was going to put some money into venture capital said entrepeneurship no question and you absolutely started to see some of that in the private equity industry where LP's calpers and Kosters certainly did we to invest more broadly but that doesn't make sense right well let's talk for a moment about how venture capital firms make money and why I suspect it is their investor that should be enough evidence right we should suddenly I'm sure that in the next year we will see a flood of new investment when multicultural founders right well things have been bumping along you know in fine form and there was nothing to counter that argument there was not necessarily a motivation on instigation to change it hey my pensioners want you to do the best you possibly can in that means investing broadly is that what it's GonNa take well I'll tell you I do think that that would be powerful double wealth management at Morgan Stanley and she says the numbers are getting hard to ignore I think in the last few years there's been a lot of data that has been released that talks about the entrepreneurs so now I think there's far more data out there that is supportive of the argument that in fact there is something to miss but I think stop me if you've heard this before ninety one percent of venture capital investment goes to men but also to their investors limited partners who arguably are the ones who are holding the purse strings we hope Somali part of what we're trying to do is to say not only are UVS's missing it but perhaps if you're missing it you may be leaving some money on the table for your limited partners and I wonder do you think and now some related links we've got a link to the latest Morgan Stanley data and the survey of two hundred venture capitalists released earlier this week over at our website could difference though I think the same could apply here that's very reasonable right the survey says that women earn seventy eight cents per dollar invested men only earned thirty one cents I won't necessarily say it would be a flood but I'll tell you we would be very happy to see that happen if this one report made that kind of difference in the industry we'll take that all day long eighth marketplace Tech Dot Org one interesting result of the survey data is that sixty percent NBC's say there aren't enough women or multicultural founders in their portfolio the Wall Street Journal tried to break it down a year or so ago but investors are putting tons of money into venture capital and private equity right now because stocks and bonds are kind of flattening out I would have to demand major change. VC firms make money by charging a fee for managing money that's about a two and a half percent of the amount they raise says apm this marketplace podcast is brought to you by entercom intercom what's more of the Nice people visiting your website to give you money so they took a little chat bubble in the corner Google's so that even if everyone is doing fine right now why not at least try to do better Matt Pretty and Stephanie Hughes Produced Marketplace Tech Jody on customer unity got forty five percent more loyal users with intercom in just twelve months go to intercom dot com slash podcast to start making money from real time chat the website and packed it with conversational bots product tours. NPS surveys all sorts of things that amplify your team and help you reach more nice people in eighty three percent of them don't think they would lose money if they invested in a more diverse set of founders however three out of five of those VC's say it's still not a priority so that means the firms are making pretty good money on the fee for managing these increasingly huge venture capital funds. They only have to hit a big once in a while but what Carla Harris is saying is that these investors instead of having one facebook but one google every five or ten years could have two or three or four or five facebook Sir and then they take
How to find the person who can help you get ahead at work | Carla Harris
"You're listening to a special archive presentation of Ted Talks. Daily this Ted Talk Features Business Executive and author Carla Harris Recorded Live at Ted Women Twenty eighteen. It was the spring of nineteen eighty eight. When I had the Aha moment I was at my first round table? And for those of you who don't know. The roundtable table was a very commonly used phrase on Wall Street to describe the year end evaluative process for analysts associates vice presidents all the way up to managing managing directors. That was the process where they were discussed behind. Closed doors around a table I e the roundtable and everyone was put into a category. The top bucket the middle bucket the lower bucket and then that was translated into a bonus range that would be assigned to each professional. This was my first time there and SL observed. I saw that there was one person that was responsible for recording the outcome of a conversation. There were other people in the room that had the responsibility of presenting the cases of all the candidates and there were other invited guests who were supposed to comment. As as a candidate's position was presented. It was interesting to me that those other people were folks who were more senior than the folks that were being being discussed and they theoretically had had some interaction with those candidates now. I was really excited to be at this rally table for the first time because I knew do that my own process would go through the same way and that my bonus would be decided in the same way so I wanted to know how it worked but more importantly I wanted to understand. How this concept of Amirah Takeuchi? That every company that I talked to walking out of business school was selling. Every time I talked to a company they would say our culture our process is America. Crecy the way you get ahead of this organization is that you're smart. You put your head down and you work really hard and you'll go right to the top top so he was my opportunity to see exactly how that worked so as the process began. I heard the recorder called the first person's name. Joe Smith Smith. The person responsible for presenting Jones case did just that three quarters of the way through someone interrupted instead this is a great candidate. Outstanding standing has great analytical quantitative skills. This is a superstar. The recorder sounds like Joe should go at the top in the top bucket. Second Person Mary Smith Halfway through that presentation someone set solid candidate. Nothing really special but a good para hands the recorder quarter said sales like Mary should go in the middle bucket. And then someone said Arnold Smith before the person could present Arnold case somebody by the set disaster disaster. This kid doesn't have a clue can't do a model and before the case whereas resented the recorder said sounds like Arnold should go in the bottom bucket. It was at that moment that I clutched my pearls. And say who's going to speak for me WHO's going to speak for me. It was that moment that I realized that. This idea of America crecy that every organization cells is really just a myth. You cannot have a one hundred percent meritocratic environment when there is a human element involved in the equation because by definition that makes it subject. If I knew at that moment that's somebody would have to be behind closed doors arguing a my behalf presenting content in such a way that other decision makers around that table. What answer in my best favor? That was a really interesting lesson and then I said to myself well who is that person. What do you call this person? And as I thought about the popular business terms at the time I said wow this person can't be a mentor. Because of mentors job is to give you tailored advice tailored specifically to you enter your career aspirations. They're they're the ones who give you the good. The bad and the ugly in a no holds barred way okay. person can't be a champion or an advocate because you don't necessarily have to spend any currency to be someone's champion. You don't necessarily get invited to the room behind closed doors. If you're an Advocate it was almost two years later when I realized what this person should be called. I was speaking at the University of Michigan to the NBA candidates. Talking about the lessons that I learned after my three short years on Wall Street and then it came to me. I said Oh this person that is carrying your interest or as I like to say. Caring your paper into the room. This person who is spending their valuable political social capital on you this person. Listen who's going to pound the table on your behalf. This is a sponsor this is a sponsor and then I said to myself well how do you get a sponsor. Frankly why did you need one while you need a sponsor frankly because as you conceit. There's not one evaluate process that I can think of whether it's an academia healthcare financial services not one that does not have the human element so that means it has that measure of subjectivity. There is a measure of subjectivity. In who is presenting your case there there is a measure of subjectivity. In what they say. And how they interpret any objective data that you might have there is a measure a subjectivity Eddie. And how they say what they're going to say to influence the outcome so therefore you need to make sure that that person who is speaking king that sponsor has your best interests at heart and has the power to get it whatever it is for you to get it done behind closed doors now. I'm asked all the time you know how. How do you get one? Well frankly nirvana is with someone sees. He's you in an environment and decides I'm GonNa make it happen for you. I'm going to make sure that you are successful but for many of us in this room. We know it doesn't really happen that way. So let me introduce this concept of currency and talk to you about how it impacts your ability to get a sponsor. There are art two types of currency in any environment performance currency and relationship currency performance currency is the currency that is generated by your delivering. That which was asked of you and a little bit extra every time you deliver up on an assignment. Above the people's expectations you generate performance courtesy. It works as Jack exactly like the stock market in time. A company says to the streets that they were delivered twenty five I sense share and that company delivered forty cents a share that stock goes up and so were yours performance. Chrissy is valuable for three reasons number. One it will get you noticed it will create a reputation for you number two it will also get you paid and promote it very early the on in your career and very early on in any environment and number three it may attract a sponsor why because strong performance this currency raises your level of visibility in the environment as I said earlier such that a sponsor may be attracted to you why because everybody loves a star but if you find yourself in a situation where you don't have a sponsor here's the good news. I remember that you can excise your power and ask for one. But here's where the other currency is now most important that is the relationship currency and relationship currency is the currency that is generated by the investments. That you make in the people people in your environment the investments that you make in the people in your environment you cannot ask someone to use their hard earned earned personal influential currency on your behalf. If you've never had any interaction with them it is not going to happen. So it is important that you invest the time to connect to engage at to get to know the people that are in your environment and more importantly to give them the opportunity -tunities to know you because once they know you is a higher probability that when you approach them to ask them to be your sponsor they they will impact answer in the affirmative. Now if you with me and you agree that you have to have a sponsor let's talk about how you identify by a sponsor well if you're looking for a sponsor they need to have three primary care. Statistics Number One. They need to have a seat eight at the decision making table. They need to have exposure to your work in order to have credibility behind closed doors and they need to to have some juice or let me say it differently they better have some power is really important that they have those three things and then once you have identified the person how do you ask for one. The script goes like this Jim. I'm really interested in getting promoted this year. I've had an amazing seizing year and I cannot show this organization anything else to prove my worthiness or my readiness for this promotion. But I am aware there. There's somebody has to be behind closed. Doors arguing on my behalf and pounding the table you know me you know my work and you are aware of the client feedback back and I hope that you will feel comfortable arguing on my behalf if Jim knows you and you have any kind of relationship. There's a very high probability probability that he will answer. Yes and if he says yes. He will endeavour to get it done for you. But there's also a shot that Jim I say no and if he says no oh in my opinion. There's only three reasons that he would tell. You know the first is. He doesn't think that he has enough exposure to your work to have real credibility behind. Hi closed doors to be impactful and effective on your behalf. The second reason he may tell you know is that you think he has the juice to get it done on but he knows that he does not have the power to do it. He is not going to admit that in that conversation with you and the third reason that he would until you know he doesn't like you he doesn't like you and that's that's something that could happen but even that will be valuable information for so you that will help to inform your next conversation with the sponsor that might make it a little bit more impactful. I cannot I tell you how important it is to have a sponsor it is the critical relationship in your career. A mentor. Frankly is a nice to have but you can survive a long time in your career without a mentor. But you are not going to ascend in any organization without a sponsor. It is so critical that you should ask yourself regularly. WHO's carrying my paper into the room? WHO's carrying my paper into the room? And if you can an answer who's carrying your paper into the room. Then I will tell you to divert some of your hardworking energies into investing in a sponsor relationship. Because does it will be critical to your success and as I close let me give a word to the would-be spouses. That are in the room. If you have been invited into the room know that you have a seat at that table and if you have a seat at the table you have a responsibility to speak. Don't waste your power worrying about what people are going to say and whether or not they think you might be supporting someone just because they look like you if somebody is worthy of your currency spend it one thing. I have learned after several decades on Wall Street is the way to grow. Your power is to give it away and your voice is at the heart. The boy is at the heart of your power. Use It thank you very much.
648 - 8 Essential Rules for Surviving Financial Hardship
"Support for this podcast and the following message come from access and opportunity a podcast for Morgan Stanley women. Entrepreneurs of color traditionally have a hard time accessing capital to start or grow their businesses joined vice-chairman. Carla Harris. As she introduces us to the dynamic investors, entrepreneurs, policy makers, and others working to close the funding gap for these entrepreneurs listening subscribe to access and Opportunity on apple podcasts, spotify or wherever you get your podcasts. Hello. My friends Laura Adams, and this is the money girl podcast. I'd been hosting the show since two thousand eight in my mission is to help you live rich and love the journey. Before we get started I, want to thank a couple of listeners Maureen see and Steven v who emailed me with clarification for last week show, which was how to use a five twenty nine plan to manage education expenses I mentioned that you couldn't use five, twenty, nine funds to. Pay Expenses related to living off campus. What I should have said is that amounts that exceed a schools allowance for room and board are not qualified. So be sure to contact your school for the qualified room and board amount. So you'll know how much you can attribute to a student over a given academic period. So you can pay at least that much using your five twenty nine. So thanks so much for sending in those clarifications. All right. Onto today's topic I think surviving. Hardship is on everyone's mind right now while so many people are struggling due to the pandemic crisis and a big part of quote unquote living rich. It's not necessarily having a huge income although that's fantastic. But what it's really about is security having a sense of peace that comes when you know that you can survive a financial hardship or anything that comes your way. Most people experience an unexpected crisis that shakes their financial world. You know at least once in their life, many people are dealing with us on a monthly basis or even more frequently could be. Losing a job, receiving a huge medical bill having a car break down at the worst possible time. But surviving a pandemic is probably situation that you probably never thought you'd have to face. Well, we all know the Cova crisis has resulted in more than one hundred and sixty, five, thousand I think one hundred and sixty eight, thousand deaths in the United. States so far and put millions of people out of work if you're one of them or you're struggling financially for any reason, this show is for you we're going to cover eight critical rules for surviving the Cova. Crisis or any financial setback I'll talk about ways to manage money wisely, how to stretch your resources, how to find resources and how to bounce back from this unprecedented health and economic disaster as quickly as possible as always, you'll find the notes for each show and the full archive of podcasts in the money girl section at quick and dirty tips dot com. This is episode number six, hundred, forty, eight called eight essential rules for surviving financial hardship. All right. We're going to get right into those rules. Rule number one is except your situation and ask for help the. Key to successfully navigating a financial setback is to be realistic if you're in denial and you don't face your money troubles head on, you can quickly compound the damage instead of focusing on the problem getting angry or leading stress overwhelm, Y-you. A want you to channel your emotions into finding solutions. That's really what successful people do they channel all of their energy into finding what works finding the solutions start talking about your challenges with people and professionals you trust such as a money savvy family member, a financial adviser, a legitimate credit counselor or in attorney in extreme cases. There are financial associations who have certified volunteers who can actually give you free help and advice check out the National Association of Personal Financial Advisers Look at the Financial Planning Association and the Association for Financial Counseling and Planning. Education, and you're GONNA find the links for all of the resources that I gave you in this show on the money girl page at quick and dirty tips dot com. So don't feel like you have to write everything down all of the resources and links will be there for you. Rule number to get a bird's eye view of your finances. I think to fully understand your situation. You really have to pull out zoom out look at the big picture. So create a list of what you own and what you. Oh, this is called a net worth statement and while that sounds pretty fancy and complicated, it's really not. It's simply a way to list out what you own and what you owe compiling all of this information. In one place, we'll help you evaluate your financial resources, make decisions more efficiently and have essential information at your fingertips, creditors or advisers ask for it. So I you WANNA list out your assets. These are the things. That you own. It could be cash in the bank investments, retirement accounts, real estate, and vehicles. Then list out your liabilities like a mortgage, a car loans, student loans, credit card debt, and include the estimated value of your assets and the balances on your debts and the interest rates that you're paying for each of your liabilities, and this can be really simple. You could just jot it down on a piece of paper or you could enter this in a computer spreadsheet or if you're using money-management software, it's likely that you can create an automated report that will pull in all of this information for you. Once you get it entered in the first place. When you subtract your total liabilities. So what you owe from your total assets from what you own, you've calculated your net worth it's really that simple. This is an indicator of your financial health and it's not uncommon to have a very low or a negative net worth when you're in financial trouble. So get that net worth calculated I think the act of putting all of that information at one place is going to help you understand your resources rule number three, understand your cash flow an essential part of bouncing back from a financial crisis is. Keeping an eye on your monthly income and expenses create a cash flow statement, which again is another kind of fancy fancy sounding statement but it's really very simple. It lists out your expected income and your typical expenses such as rent utilities, food prescriptions, transportation, and insurance. Again, you can create it manually or by using budgeting features in a financial programme understanding where your money goes is the only way to prioritize expenses and to cut all non-essential spending listing out everything you spend money on, it's going to help you understand where you can cut back. Making sacrifices when it comes to spending, but it's going to be necessary in the short term when you're dealing with a financial setback. So figure out how you can cut all non-essential spending make those temporary sacrifices. It will help you recover as quickly as possible with less long term damage to your finances. Rule number four, shop your essential expenses. As you review your spending. When you're putting together your cash flow statement, it's an excellent time to comparison shop your essential expenses evaluate your highest costs I, such as housing vehicles and insurance since they typically offer the most significant potential savings. For instance, you may be able to move into a less expensive home purchase or lease a cheaper vehicle or shop your auto insurance. To find better deals you can visit sites like bankrate dot com to shop around for better rates ask your utility provider about assistance programs that offer energy saving improvements at no charge that can a pretty easy way to cut your utility bills. Rule number five communicate with your creditors. So after you've dealt with looking at your data, you've put together your net worth statement you're looking at your income and expenses with a cash flow statement you're cutting all non essential expenses. Then you want to look at a what else can my creditors? For me you WANNA communicate with them right away. So if you have not been in contact with your creditors and you're dealing with some type of financial hardship, you need to start a dialogue with each of your creditors. Immediately, YOU'RE GONNA come out ahead and get favorable treatment from creditors if you're proactive and you're honest about what's happening, what's going on? Why are you having financial troubles? Ask Them for Solutions Sanchez deferring payments for several months maybe setting up a reduced payment plan or refinancing To reduce your monthly financial burden, they're going to be a lot of different. Types of solutions and it really will just depend on the type of loan that you've got an and the creditor creditors are likely to ask you about the details of your financial life. They're gonNA want to know about your income expenses and your assets. So that's another reason why getting those statements pull together as quickly as possible will help you have your net worth and your cash flow statements on hand when you speak to your creditors, be ready to complete any required assistance applications quickly. Before, I go on I wanNA, tell you about today's sponsor indeed for businesses all across America right now it's a cautious time. Every decision or commitment makes you feel fraught with uncertainty. So when you're making your next hire indeed is here to help indeed is the number one job site in the world it gets you the best people fast and with their powerful sponsor jobs feature you're listing is three and a half times more likely to result in A. Higher with seventy three percent of online job seekers visiting indeed each month it's the perfect place to find the important hire you need. They've already helped more than three million businesses right now indeed is offering money girl listeners of free seventy, five dollars credit to boost your job post. So more quality candidates will see it fast try indeed with a free seventy, five dollars credit at indeed dot com slash money girl. This is their best offer available anywhere go. To indeed dot com slash money girl terms and conditions apply offer valid through September thirty. Before I go on I, want to tell you about today's sponsor indeed for businesses all across America right now it's a cautious time every decision or commitment you make feels fraught with uncertainty. So when you're making your next hire indeed is here to help indeed is the number one job site in the world it gets you the best people fast, and with their powerful sponsor jobs feature you're listening is three and a half times more likely to result in higher with seventy three percent of online job. Seekers visiting indeed each month it's the perfect place to find the importing hire you need. They've already helped more than three million businesses right now indeed is offering money girl listeners free seventy five dollars credit to boost your job post. So more quality candidates will see it fast try indeed out with a free seventy, five dollars credit at indeed dot com slash money girl Mrs their best offer available anywhere go right now to indeed dot com slash money girl terms and conditions apply offer valid through September thirty. Rule number six, prioritize your dense carefully. Based on guidance from creditors and any professionals that you may be working with prioritize your bills and debts. Carefully, your goal should be to conserve as much cash as possible without skipping essential payments always pay your necessities, I, your food, your prescription drugs, and your auto insurance. These are the things that you're just have to pay I. So don't spend money on other things haven't paid for those I, use your net worth statement to rank your liabilities from highest to lowest priority. So for instance, if you've got. Debt related to child support or any legal judgments. Those have severe consequences. So those have to be prioritized keeping up with an auto loan is also a very high priority if you rely on your vehicle for transportation and to get to work and federal student loans are typically a priority. However, they are in automatic forbearance right now through September thirtieth and the relief may get extended through twenty twenty and beyond. So stay on the lookout from your student loan providers as to what type of relief is available. Your unsecured debts. These are things like medical bills, credit cards, private student loans. These are lower priorities never pay these debts ahead of your rent, your mortgage, your food or utilities when you have a cash shortage. So really understanding which debts have to be paid in which dance can be pushed off or delayed. This is gonNA. Be a a really important part of surviving financial setback. Rule number seven don't let collectors force you to make bad decisions prioritizing your debts means that some may be paid late or not at all. If a debt collector contacts you about any of your low-priority debts again, these are medical bills, credit cards, private student loans, any type of debt that is unsecured. It's not tied to something like a vehicle or a house if a debt collector contacts, you about these low-priority debts don't allow them to persuade you to pay them before you pay higher priority debts and bills creditors are going to try various aggressive tactics i. mean that's what they do. They are collectors are going to try really. Hard to collect money from you. They can even do things that are illegal in some cases in an effort to persuade you to pay what you of. So you need to be savvy enough to understand when they are doing something that's illegal that you can just ignore or whether they're telling you something that is valid. So if they're threatening to sue you or threatening to ruin your credit, those are actually illegal and you need to realize that it's likely that any lawsuit would actually take years and a creditor is much more likely to negotiate a settlement with you than they are to sue you especially if you don't owe them. The amount of money. Remember that a creditor or a collector cannot send you to jail for civil debts. So remember that you know the consequences on most stats are are limited. However, if you owe child support or you legal judgments, those are more severe and you do need to make sure that you're staying up to date on those types of debt, you can be jailed for non payment of child support? And regarding your credit, if a a debt collector says, they're going to ruin your credit well. In all likelihood. If you're already behind on bills, you probably already have that reflected in your credit report. So by the time, a collector contacts you the damage is already done and paying the bill will not improve your credit in the short term. Now, it can be a part of a longterm strategy but in the short term, it is not going to change anything for you. So make sure that you you understand that threat of ruining your credit is something that likely you know is pretty shallow. Rule. Number Eight, take advantage of local and federal benefits if your income and savings have entirely dried up, you need to use local and federal resources to learn more about what's available in benefit. So I'm going to list out a few here that Again, I'm going to have links to these. For the show there in the money girl section at quick and dirty tips, dot com feeding America Dot Org is a great place. If you want to find out about local food banks, they have the map that you can zoom in and find out what's nearest to where you're living right now the federal food program that you may have heard of is called the Supplemental Nutrition Assistance Program or snap. You may qualify for this federal program based on where you live your income and your family size. Making home affordable dot Gov is a resource can help you find a housing counselor or see if your mortgage is backed by the Federal Government in qualifies for Forbearance. Benefits Dot Gov is a great place. If you're just not sure what you qualify for there's a questionnaire that kind of walks you through your situation will help you discover the benefits that you're eligible for Medicaid dot. Gov is the Federal Health Insurance Program that you may qualify for based on again where you live your income and your family size and healthcare. Dot Gov is the federal health insurance marketplace where you may find health plans that have substantial subsidies making them very affordable if you earn too much to qualify for Medicaid. So make sure you check out what's available at Healthcare Dot Gov. Your job and not have the health plan right now I know that financial challenges can cause you and your family to experience a flood of emotions I mean it can range from anger to fear to embarrassment as difficult as it might be to put a financial crisis into perspective. It's critical. You've got to realize that no matter what challenge you're facing right now you're not the first there are millions of people who are dealing with. covid related financial hardships and millions of people that we're dealing with financial hardships before Cova, face the fact that your recovery could take a while do everything in your power that you can right now to manage your budget wisely by getting organized, seeking ways to earn more and spending less, don't be afraid to ask for help from creditors to seek free advice from professionals. It's out there and take advantage of every local and federal benefit possible. I. Hope these tips will give you some direction and some resources if you're struggling right now, and if you've got a money question or a dilemma, a great way to keep the money conversation going is to join my private facebook group. It's called dominate your dollars to request your invitation visit dominate your dollars on facebook or you can text me for immediate access text. The word dollars do l.. L. A. R. S. to the number, three, three, four, four, four, and I hope to see you in the group. You can also visit Laura de Adams dot com to email me a question or you can record it as a voice message that I might even be able to use the show just call three, zero, two, three, six, four, zero, three, zero eight to leave your message twenty, four, seven. That's all for now I'll talk to you next week until then here's to living a richer life money girl is produced by the audio. Wizard Steve Ricky Berg with editorial support from Karen Hertzberg. If you've been enjoying the podcast, let us not take a moment to rate and review it on apple podcasts. That's an easy way to give back, show your support and help other people find us. You might also like the backlist episodes and the show notes that are always available at quick and dirty tips dot com.
Feeling the trade war on the farm
"This marketplace podcast is brought to you by four x dot com committed to empowering and helping traders seize opportunities and the foreign exchange markets learn more at four x dot com four x dot com. It's your world trade. It forex trading involves significant risk of loss and by the Michigan Economic Development Corporation John Criminally founder and CEO at airspace experienced technology says in Michigan Revolution is in the air. Find out what planet is doing to help. Businesses make that possible at platinum dot dot com. That's P. L. A. N. E. T. M. dot com if the people managing your money we're leaving trillions of dollars on the table. It wouldn't you have some questions from American public media. This is marketplace. From Oakland's I'm Ali would in for Kyra style. It is Tuesday November fifth. Good to have you with US first up today the latest on the US trade trade deficit that is of course the measure of whether we imported more than we export it. Well from September to October that deficit shrunk by about four and a half percent percent. That sounds great. But unfortunately it's because imports and exports both dropped. It's just that imports fell more. In other words there there was less economic activity like manufacturing and retail for the US economy overall and. That's not so great marketplace's Mitchell Hartman takes a closer look. US I agree cultural. Exports fell hard in September as retaliatory tariffs especially from Asian countries. Hit hard take apples. Ninety five percent of of US exports come from Washington. State says Jim Bear at the. US Apple Association. The Chinese New Year is everything so for example. If I was coming to visit you I would bring you this perfect apple from the United States as a gesture of good health and prosperity for the coming year bear says in China and India they love. US US grown red delicious and the last few years sales soared until the US slapped tariffs on Indian Chinese imports and they retaliated with sixty sixty to seventy percent tariffs on US apples. We are going to have our ninth largest crop in history but at the same time exports are down about one third third close to two hundred million dollars which frankly is a lot for the apple. growers another link in the supply chain is agricultural equipment and other big rigs tractors actors earthmovers and the like me by classic American Manufacturers Caterpillar and John Deere their export sales to foreign customers are falling says Elizabeth vermillion at CF IRA research. Now you have tariffs and trade and slowing global math nommik headwind plus. US farmers farmers are so uncertain about the trade future will China by their soybeans will India by their apples that they're holding back on buying new farm equipment for next year ear. I Mitchell Hartman. For marketplace. The devastating California wildfire known as the camp fire ignited a year ago Friday. It killed at least eighty five. If people in leveled the town of paradise the fire has been blamed on faulty electrical equipment from the State's biggest utility Pacific Gas and electric liabilities from that that fire helped push. PG Any into bankruptcy last January and now there's a battle over how pge should emerge from chapter eleven. And who should run it. Twenty two California when you mayors have an idea. Turn it into a publicly owned cooperative utility. Here's marketplace's Justin Ho on what that might look like. PG Any answers to its shareholders. There's who won a nice return on their investment publicly owned cooperatives. Work in a very different way says Jeffrey. Connor of the National Rural Electric Cooperative Association established in the way that the consumer zone the CO OP and ELECTA board to guide the direction of the electric utility rather than having shareholders. Californians are tired of having their lights. Shut off off and the group of Mayor says. PG isn't doing enough to prevent wildfires more than seven billion dollars paid out dividends to shareholders while the company is is under invested in basic maintenance capital upgrades. There needed that Sam Lombardo. The mayor of San Jose he says a public takeover would save money no more more dividends for one and the public. Coop would be exempt from federal taxes. The Cardo says those savings will help the company say clear brush from around. That's power lines those kinds of vestments. Take a Lotta dollars. There are about nine hundred publicly owned utilities in the US nothing at the scale of PG which stars more than sixteen million people the economics professor Severin Bornstein that UC Berkley. Says if those customers were to own utility be assuming a lot of risk in the event of more wildfires or other disasters in tax payers. Who are behind this municipal? Utility are on the hook. PGA declined an interview but in a statement it said changing the structure of the company would not improve improve safety instead. It's facilities are not for sale. I'm Justin Ho for marketplace on Wall Street today. Economic activity declines markets shrug. We'll have the details when we do the numbers when facebook announced is plans to introduce a new digital currency called libra it rattled financial regulators all over the world in fact today draft document from the EU says the European Central Bank should consider issuing its own public digital currency and with tech companies getting into banking financial services and payments regulators have a lot more to contend with Yelena McWilliams. Is the chairman of the Federal Deposit Insurance Corporation also known as the FDIC it is in charge of banking insurance. Yes but also monetary oversight and consumer protections. I spoke to her at a recent financial technology. Conference Yelena Welcome to the program. Thank you for having me a pleasure. How do you think over time? The actual fundamental role of the bank might change like you see a lot of companies saying you know. We're payments processors. Do you think banks will still be processing payments in the future. Will they make all their money on consumer loans. Like what you know. How do you see as there's so much competition things that the roll starting to strategy? I think it's It's very interesting. The the place in time we're at right now and one of the things that that fascinates me is. What are the banks of the future going to be you know is what is the a team of the future going to look like what is the teller of the future going to look like a joke? It's going to be a kind of A. Here's your deposit. And here's your a couple of Chino. Would you like whole milk or milk. I want that machine what we have to think about the FDIC sticker on that machine the but in the question for us on a regulatory side is are we going to be standing in the way of that innovation or are we going to be open minded enough while making sure that the banks are safe and sound and there's adequate protection. Can we talk about libra for a second. We can't talk about a specific currency Because of our of our regulatory framework. But I'm happy to talk about. Generally generally crypto crypto assets and cryptocurrencies. I mean where do you see this going. How long is it? Before a central bank or government issues crypto currency. So I now there are talks underway as to what the role of the regulatory bodies in this space is right as a regular you want to make sure that innovation is able to foster but at the same time There are certain developments such as the crypto assets that have the possibility to undermine the whole central banking system of a country right One of the things that needs to be decided you know is it an asset or is the security is the current it's truly a currency then we need to start thinking about the implications of that including what what does it mean for the deposit insurance. So I'm open minded While at the same time making sure that the regulatory agencies are working together so that we don't have Franchised I I'm a fragmented. I'm sorry approach to To Hobby regulate and look at this development are there. Do you think other innovations that can answer for some of the needs that libra points out which is a global seamless payment system the ability to serve the unbagged an easy and digital way. Okay so every time we see a disruptor I always ask why. Why were they able to step in and do this? What was lacking in the marketplace that that means somebody planted see and there was fertile ground in the seat grew into this product and so as I looked at the cryptocurrencies encrypted acids The issue of real payments Real time payments comes into place one of the things that they want to make sure that we don't do is either blessed something we're not sure about and we don't understand standards implications for the consumers in the marketplace But also we don't want to encourage This courage actually. We don't want to discourage innovation and it's a fine. Yeah I feel like I'm on a seesaw. Every day and I'm trying to figure out how to create that balance where we do enough To encourage relation. But we don't do Something that would cause the system to irreparably going to disarray. I mean it must be difficult. You see these companies plowing ahead you know you see people saying the US so far behind on blockchain and actually I would imagine that almost every regulatory body feels this way that you don't WanNa get left behind but you don't want to do it wrong and the stakes when it comes to global monetary policy are way higher rate. How stressful is this for you? Well it stressful alright Laundry doing laundry stressful as well in my household Here's the bottom line so laundry as stressful as Lebron and write that down was labor on US Lebron James All right of course he. Here's how I look at this to the extent that these currencies and crypto acids and blockchain developing Doc to help society be better. We need to take the big victory into equation here. Right central banks of the world have a very easy job of saying no immediately radiantly and stopping all of this in their tracks. The the fact that Ed has not happened should tell you that it's a it's a positive development I think because the regulators are at least taking the time to understand understanding implications while analyzing the impact on the system and so it's stressful because you don't want to make a mistake and so we need to change are the regulatory agencies agencies because if you really think about it we're dealing with the twenty first century technology With a workforce from generally twentieth century based in some cases of some regulatory letroy agencies on the loss and organic statues were given to us by Congress in the Nineteen Century Illinois McWilliams is chairman of the FDIC. Thanks so much for the time. Thank thank you so much. There is more to my conversation with Nick. Williams from that conference we talked about digital only banks and competition in here the whole thing on the marketplace tech podcast ninety one percents of venture capital investment goes was to men most of whom are white and did we mention ninety percent of venture capitalists are men too but by only investing in people who look like them. VC's these are leaving a lot of money on the table as much as four trillion dollars to be exact. That's according to a new report from Morgan Stanley. Carla Harris is vice vice chairman of global wealth management. There Karla welcome to the program. Thank you very much for having molly so I WANNA move up the chain when you put out the report like this from Morgan Stanley. Are you speaking not just to venture capitalists but also to their investors the limited partners arguably are the ones who are holding the purse-strings purse-strings. Yeah we hope so molly And that that is part of what we're trying to do is to say Not only are you. BC's missing it but perhaps if you're missing it you may be leaving some money on the table for your limited partners and I wonder do you think that's where the ultimately the change inch has to come from like if LP's Al- suddenly introduced diversity writers if every pension fund that was going to put some money in the venture capital said. Hey my pensioners want you to do the best you possibly can in that means investing. Broadly is that what it's GonNa take. Well I'll tell you I do think that that would be powerful. There's no question that limited partners have power in this equation to also move the needle with the distribution of capital two women and Multicultural Alta launch. Preneurs no question and you absolutely started to see some of that in the private equity industry where. LP's certainly did make a difference. So I think the same could apply here. That's very reasonable. So what do you think it is. What is keeping venture capital from flowing? I mean you know the data's pretty clear on the homogeneously the of this industry and and all of those things but when you really talk to these guys what do you think keeping venture capital from flowing to broader set of founders. I tell tell you my I think up. Until now there's been a dearth of data that suggested that in fact there might be differential with the specter returns and and that they were in fact a missing something of value. I think in the last few years there's been a lot of data that has been released that talks about the value of companies. He's that have more women internally so now I think there's far more data out there. That is supportive of the argument. That in fact there is something to you miss so I think that that is in fact going to start to move the needle but I think when things have been bumping along you know in fine form and there was nothing to counter that that argument that was not necessarily a motivation on instigation. To change it right. Yeah and you don't necessarily so a lack of data really the only allows us to continue right. I I would. I would say that. That's fair. It makes it easy for it to exist. Let's put it like that. 'cause it's hard to counter the argument. Yeah well you're proving a negative I guess The survey says that women earn seventy eight cents per dollar invested only earn thirty one thirty one cents. That should be enough evidence right. We should suddenly. I'm sure that in the next year we will see a flood of new investment. In multicultural. Founders right well I I. I won't I won't necessarily say it would be a flood but I'll tell you we would be. You know we would certainly Be Very happy to see that happened. If this one report made that kind of difference in the industry we'll take that all day long molly. Carla Harris is vice chairman of global wealth at Morgan Stanley. Emily thanks so much for the time. But thank you so much. I appreciate it coming up. We've been told by billions of dollars of advertising money that our car is our identity trying to undo the work of those billions but first. Let's do the numbers. The Dow Jones Industrial Average advanced danced thirty points one tenth percent to close at Twenty seven thousand four ninety two. The Nasdaq picked up disappoint. Basically flat finish eighty four thirty four and the S. and P. Five hundred dips three points points one tenth percent to end up thirty. Seventy four UBER lost nine point. Eight percent reported earnings after the bell yesterday that beat analysts expectations but The company reported over a billion dollars in net losses for the quarter billion the FCC formally approved the proposed merger of Mobile Carriers T. Mobile and sprint in a three three to two vote. The tie up faces a hurdle in the form of a lawsuit by State Attorney General to want to block the deal. Bonds fell the yield on the tenure. Tino rose to one point eight five percent. You're listening to marketplace this marketplace. PODCAST is brought to you by ENTERCOM. There's there's no room for idle chat and business so if email is your only moneymaker make room for something new intercom inner calm. The only business messenger that starts with real time chat thank keeps growing your business with conversational bots and guided product tours take intercom customer unity. In just twelve months. They converted forty five percent. More visitors through Air ARQAM's messenger make room for a new revenue channel. Go to ENTERCOM DOT COM slash podcast. That's intercom dot com slash podcast and by Horace for over one hundred and fifteen years or has been making purely mechanical watches in Holstein Switzerland. Staying true to a rich heritage or one of the few Swiss watch companies to remain independently Owned and operated because of this independence or says the freedom to follow its own path. They're focused on bringing change for the better which means making choices that are ecologically socially Salihi and financially responsible that includes ocean conservation and recycled plastic partnerships. Of course that's along with a century long and change commitment to making inventive high functioning functioning. Swiss made watches that serve real purpose and at prices that makes sense comprised of four world's diving Aviation Motor Sport and culture or as watches are made for everyday wear or says a longtime favorite of people who know watches because of what they represent. The holiday season is quite possibly the perfect opportunity to give someone on a swab new watch. Check out R. S. Dot C. H. Slash marketplace. Find Worse. Watch that matches your style. That's or dot C. H. Slash marketplace. Place this is marketplace. Hollywood farming and ranching are tough jobs and lately so much tougher historic flooding. This fall has taken a huge toll for farmers in Montana where wheat is their biggest agricultural commodity. The trade war has seriously limited export options of wheat into China. And so with that said here is today's installment of our regular series my economy my name is Michelle Ericsson Jones. I am farmer from broadview Montana. We we raise wheat barley corn sunflowers. SAFFLOWER as well as forages and a small cow calf operation. There's definitely a lot of things that I love about being a farmer but certainly being able to you know raise crops raise food worked on the same land that your family's been on for multiple Generations is is something that is rewarding throughout the country. We've had excessive rain across the Midwest and Montana. There's there's been a lot of problems. Getting harvest completed combining that with our low prices as well as our challenges in the export market is made for a pretty difficult time for for agriculture. As a whole the trade wars affected. I certainly on our input side you know. The causes steel has risen with the steel and aluminum tariffs. There's also been other inputs that have risen with some of the other tariffs we've also been impacted by the tariffs into China. China was a rising market for wheat and especially for hard red spring wheat and soft way wheat out of Montana in the Pacific northwest. When the trade war started in March of two thousand eighteen? They stopped buying wheat and they actually did not return to that market until just last week. They finally bought at some software suite. But that is the first purchase of wheat that they've made an over a year and a half and that's been a substantial loss for us in the weed. Industry Serie overall roughly at four hundred and fifty million dollar market year for Montana specifically there are about sixty five million dollar market ear and they were one that we had targeted for expansion not to lose our market share. We have excess weight in the world. There's considerable herbal wheat stocks in the world and when we combine that with stagnating demand then that is a that's a consideration for us and it has had an impact on our prices is which has an impact on our ability to be profitable our ability to expand and make purchases and contribute to the rural economies. As you know there's a lot of uncertainty in one or future in farming looks like you know we've made it through rough period before our farmers obviously made it through the thirties as we made it through the eighty s you know that agriculture. We'll find a way to make it through Eh but if it may look different or parts of the countryside may look different than they you did before this Michelle Ericsson Jones. She's a wheat grain farmer in broadview Montana. We need you and your stories to make this series work so take a second and let us know how your economy's doing at marketplace dot org. ooh ooh cars and trucks are the biggest single source of greenhouse gas emissions in this country. One obvious solution to that is fewer cars on the road now. carpooling has long been the holy grail for how to solve that problem but it's also really really hard to accomplish and after ten years trying to help drivers avoid traffic. The navigation APP ways is trying to get. Its users to Carpool together. No embar Ardine is the CEO of ways. No thanks for coming on. Thank you for having us so I wanNA talk to you first about carpooling. Most people know as as a mapping company or about a year into into this carpooling experience. And for those who don't know about it. How does it work so carpooling base can attempt to actually do something about traffic? So carpooling tries to do is match you up with people that live close to you. Were close to you and leave more at the same time that you leave and creates kind of small communities of people who live next to each other work next to each other and leave their card home one day the other person drives etcetera and BA and allows them to leave their car and take cars off the road. How do you connect? You're not hiring drivers right. You're connecting people who are already driving with people who are interested in getting a ride correct so this is is not a business and we limit the the amount of reimbursement that you get to fifty eight cents a mile. which is the reimbursement for wear and tear on your car and fuel and so you can't make money here? This is not birth not lift. Its not a taxi but we can do is help yourself help your neighbor and help the environment but also individually for you. You're driving anyway. The carpool lane. Hov Lane can save up to thirty minutes in California fourteen minutes a on the east coast and your everyday Commu and these are the kind of things you can access excess. Once you have more people in your car so now right now you said you're not making money off of this but you would presumably to make it profitable in the future right. How would that work so today? The writer actually pays a small fee and that goes to the driver right to cover the costs it right now. We're not taking any peace in that even more. Sometimes we're actually subsidizing ising. Sometimes we're paying more to the driver the rider to create the density and get people to try it for the first time long term. We will take a piece of that transaction right some kind of fee Eh. Off that money that's going in and out of our system is the key going to be though in the future that it would be cheaper than Uber say so that's always always the case. We price ourselves much closer to public transit than to taxes this away for for masses of people to cost effectively move between the suburbs and the city's so it's obviously priced much much cheaper than anything you would have in this sort of taxi world. What is the hurdle in convincing people to do this? I live in California. Where are we have? Something called Casual Carpool which is based on predicated on this exact concept. I think they have something similar in. DC So. I have done this thing where I get in the car with strangers but I can tell you my whole family freaked out about it like how do you convince people that this is a safe and good idea. That's exactly the challenge. I mean the government's been trying to convince people to car pool since the Second World War right and it makes complete economic sense. But it's a hassle. There's IT's a hassle. Unlock won't do it more than that. We've been told by but by billions of dollars of advertising money that our car is our identity right that this is who we are and we've been told by our parents not to get into a car strangers so what we try to do is limit the friction. Make it as easy as possible to you. Give you all the information on the people who they are you can decide. I only WanNa ride with someone from my gender. I only want to ride with someone from my company by. We'll give you all the tools to make the decision decision and urine control at the same time these people that live next to work next to you. They probably have a lot more in common with you than you think you know. I wonder to one of the Sort of standing criticisms of ways because the focus is really on finding a better route and more you know a quicker route that it's funneled traffic onto sidestreets or there's the ways left where you're in. La and you suddenly have to make a left. Turn where there's no stop. Light is removing more or cars from the road also a way to sort of counter that problem. which is that? There used to be streets that nobody knew about that. All of a sudden everybody knows about thanks to his. So you know. We're kind of been a branded as the the problem here but the problem was not really us. The problem is the fact that aren't enough roads and and we can see the data itself and they're they're multiple APPs that provide routing now. Everyone's going on surface streets. Well you hear a lot. Is People Complaining About Driving Their neighborhood but they're happy to drive it to someone else neighborhood right as society. We need to take advantage of all the infrastructure that we have and these roads there carpool. He's obviously the next step about removing the cars ars and long-term if we don't do that no amount of of surface streets are going to help because we have too many cars and not enough roads now. Dean is the CEO of ways. Thanks so much for coming coming in. Thank you for having me. This final note on the way out is just a shameless diversion into a new category of thing. I'm calling stunt foods. The latest comes from from principals parent. Company Kellogg is now selling a friendsgiving. Tur- ducan kit which includes pringles chips in Turkey duck and chicken flavors. I want to be
James Rhee: Stories of Kindness, Math, Mindset, and Trust [Episode 505]
"What is the key to. Transforming ailing retailer. The answer will surprise you. Welcome you tell me something good about retail the podcast of the retail doctor. And i'm your host. Bob phibbs in this episode. I'm talking to james re about his journey and retail investing teaching and becoming the go-to guy for a lot of institutions looking to teach a future grounded in something more than just math. This is the story of an unlikely friendship. Between a first generation asian-american private equity investor and a predominantly black female employees group founded in nineteen ninety-one. Who plays their mutual. Trust in each other learn from each other and then proceeded to quietly shocked the world ashley stewart as the we're talking about and these stores primarily served plus sized women within the urban communities women who are often overlooked by other brands. Now james i understand when you became. Ceo in twenty thirteen. They were headed for a second bankruptcy. That you made one rule. What was that instead to everyone that they had to be kind now. What does that mean. I think kind is a word in. I know you know this. I wrote about it in the harvard. Business review in two thousand fifteen to some skepticism from certain business readers but to me. Kindness is an action. It's an action where you are asking for zero. Reciprocity action that literally brings out the best in a person in their quest to be their best person in the humanity. Since and it's very different right. People often confuse it these days because all of a sudden. It's kind of in vogue and people use it loosely. And they use it to be synonymous with things like nice. Right and door agreeable. Kindness is a very different thing. I think too much more closely related to a concept like love. I think we love. You have to love someone. Generally that you know but kindness you bestow on strangers. I think it's very key difference. I love that is. It's not reciprocal that. It's an attitude. You have going into it. Not it's kinda that all idea of putting the would in the fire. I instead of most of us thinking we'll kind of them after the fire gives me heat. Then i'll do it right that you're saying no it's the attitude i have going into it now and you're asking for nothing in return is just something that you're making. Investment that is a one way investment. Just because it's right. Well if you know. You said with ashley stewart. We're gonna start off with ashley stewart. Because that's the one. I met you it and our f- i've been trying to get this man on my podcast for a number of years and he's so busy and you'll learn that as we go through this but you said you were the least likely person to run this company and yet and yet on a shoestring. You became a success story of the year for brick and mortar retailers. So can you share a few of those highlights and what it was about because it wasn't just oh we created open floor plan and suddenly we got a new website and everything got better. It was a strategic plan from the outside. And whatever you can share with us. I know our listeners are hearing an awful lot about brick and mortars having a tough time i think certainly this is a brand. That was having a tough time. Second bankruptcy that we're headed for and yet you walk in the door the least likely guy to run it yeah. I think that it's a long story. But i'll try to sort of for your listeners. Do it in two ways so yeah it was the least likely guy i guess so in many ways right so it's not just from a race perspective or gender perspective but up until two thousand thirteen. I hadn't had a w. two in retail since like bussing tables. I'm the boston based investor. I of have a long history of investing in soulful brands. Both in high growth venture end in distressed. So what was the magic combination. I guess number one from a very human standpoint. We i wanted to do it. I really felt like the employee base in the customer base. Where i don't know. They were well deserving and or great leaders. they think it's pretty well publicized. Said how they reminded me of my mother that i think great leaders in society tend to do a lot of things for others and they generally never get credit for nor do they ask and i admired a lot of the way that the customers were. They do a lot. They never get any credit so that was number one. I think just from that. I want to add on that. Because you are actually. On the board of ashley stewart and i think you said. This brand deserves a chance. That they hadn't been treated right wasn't that kind of what. And then you. You resign the board and then decide. I'm going to help. Short resigned to the board. I think i also just resigned from my identity as a boston private equity guy for what was supposed to be six months i just disappeared and it was just one of these things. I was forty two at the time. I wasn't a young man. I was an old man but my dad was dying. My dad died subsequently started thinking a lot about life about legacy and what. I learned not having grown up the whole lot of money but i spent a lot of two decades being sort of king world right. Tall buildings managing billions of dollars the money moving like just really becoming a student and mastro systems. And you realize that there are a lot of systems that are hurting a lot of very ordinary innocent but heroic people and i think this was look. This is two thousand thirteen. I mean we're in two thousand and twenty. I think a lot of at my predictions. I think people are more sympathetic to some odd predictions now but this country without going too much into the demise and crushing of the middle class. It has made life very difficult for a lot of very hard. Working people and one of those hardworking people happens to be a group that i view as perhaps even more other than most women plus size black modern. I think that's a lot of other that goes on. And so that was one thing that my intent was is like the elvis costello song the last year exent allison when he says. My aim is true. My aim was true. Like i just thought it was going to be six months i said to myself. I don't want this thing to utterly liquidate. If i can figure out how to hold off the lawyers and the accountants because i'm an experienced deal guy that maybe i could figure out a way to prop it up enough that someone might keep it operating somehow. That was the goal. It was nothing beyond that. I came in august in two thousand thirteen. I suppose to go home in march two thousand fourteen. I don't know. I think the second thing before we go with the narrative but the other than just being a human being and meeting people for at that level of being a human being saying how we do this together like what are we going to do like everyone's trying to crush you and i think it was very important that i didn't go in as private equity james or ceo. James or like you know lawyer james. I just came in as james. And i actually think. In retrospect that was the most important thing about just being a good listener. I think that's what leaders do right you lead from behind. I want to get in there that also that it's important to note it's not like you didn't show up with no systems and we'll get into some of your background as well but your experience. You had systems that you able to bring to that. That not only recaptured. That brand but also is able to bring it to a new level right. You've been teaching this and you had been studying this for a long time. It's not like oh this guy didn't deserve it at all. He just some guy. You were the right man at the right time and saw the opportunity. But you're able to bring these systems to bear. Yeah i think that's right. I mean i saw that. O'brien teased me. She said if. I could come up with a name of a tagline for the story with a been. They never saw him coming so so for me. When i look back my background. I studied people in college Massive movements of money race and economic sweeping designed thinking oriented studies right about humanity and tendencies. I taught high school coach football and baseball. I went to law school. That the public defender. Which in some ways. I am not in a courtroom and then yeah i. I've managed a lot of money. But the money that i've managed. It hasn't been boring money. I do crazy not so crazy crazy though inflection point investing high growth high turnaround massive distress crazy suspension of disbelief thinking and so have to case in point. I think the first deal. I did as a private equity guy was. I was twenty nine thirty years old and my firm carved out bionics captured brand ironically also secaucus new jersey and literally the only thing we bought for like one hundred and sixty million dollars from nestle. Purina was the name meow. Mix the list of ingredients two of those young mixed mobiles that go up and down fifth avenue on marketing ills. That's what we bought. And i think we closed a deal a few weeks after nine eleven and then we bought and we close a deal late january. I had four months to basically help set up a brand new company higher. Forty six people figure out how to make it what the cost was. There was no pnl because it was just a brand. I literally learned this much. Gluten is much for packaging accents per pound for this called up. A kosta dealt with the three p. is all the trucking routes call up the customer like literally had a a operational structure and peon from scratch. And so that's one of the things. It ended up being a huge success. I think we sold it for a jillion dollars to eighteen months later. But that's what i do. I i think people ask me. What kind of investor. I you whether it's for people. Brands companies organizations not for profits countries. I see things that are very difficult to see. Or i make tangible. Intangible things right. So i see intangible greatness and people in students and football players in the ceo's that i've coached obviously in the employees and customers of ashley stewart just to see the inherent greatness in somebody or something and then rather than coming in which a lot of people do and say. I'm the change you right. I'm i know better. I'm gonna change you. Don't do it that way. i'm like well. my name is james. I think i see this. Do you see it because it's awesome and there's some not so awesome stuff too but let's just spoke see all of it because i've got some stuff to but let's just be honest with each other and then once you can see the soul of something like that. Yeah and then. I had the tools to amplify financially think. I'm pretty good right. And i'm good lawyer. I think i think we can all knowledge that you're probably pretty good at that. Yeah but the key thing is like those are tools finance law. you know marketing algorithms. Those are tools. But if you're selling a load of crab marketing algorithms don't work for a long run right. It gets very expensive. Customer acquisition gets expensive being consistent with your own sort of the stories. You're not you make up stuff. It's it gets very tiresome to try to remember all the made up stuff you did. I find truth in people and i really relish in making what seems ordinary extraordinary. It just makes gives me a lot of join to see people excel. Well i it does. And i wanted to back. I'm still want to get that ashley. Stewart story for our listeners. Because it's pretty amazing. You founded fire pine group. Back in two thousand nine this before ashley stewart and the symbol of the pine cone and the fire and surviving was kind of an apt metaphor for your investing in the way you look at businesses. Can you share with us. Yeah so a fire. Pine is a special type of pinecone that on its surface it looks inert because It never allows the seeds to come out in however when there's a fire in everything burns to the ground. The wax that had been casing the seeds that made it a nurk during regular times. It actually is what saves the seeds so that these are the ones that sprout new force. And so for me. It's a metaphor a lot of levels. I don't judge anything. Sounds try. But i don't judge anything by its cover whether that's you can say that on a race basis gender people don't care what your resume looks like now. Apply that to companies. I can rip apart gap and lot. I get it. But i do my own analysis right. I say I think everyone tries to if the shape information in certain way sort of say i got how you shaped it rest of world. Let me do my way. And i'm like oh i think there's arbitrage here you don't see it. I see because i'm cutting the numbers differently. I'm seeing people. i'm unleashing greatness. In people differently. I think generally speaking as much sounds scary firepower than those who know me. It's a loving intensity right. Like i really root people like a high school teacher but i also kindness doesn't suffer fools either right like it is. Do you really want the truth. You really want to deal with it. Takes to be your best self. Then i got you like. I'm your best coach best friend. But if you don't wanna do that it's okay. Then we shouldn't work together but how many people can answer that my friend. Yeah i want the truth. I want the truth the whole truth and nothing wait. I don't know if i went to the honest. I think that's why line you that's why we're friends i think you do and i think that's why you're so good at what you do. You think a lot of times when you think the morgan stanley did when a podcast. With carla harris was called trust and transformation or something like that but transformation does not have to be violent nor does it have to be confrontational like i. I found that the way. I like to do things. It's like l. e. subs- fables. Win the wind and the sun competing about who can make the man take off his jacket. The wind blows and the man holds the jacket firmer but the sun just sun radiates guy take off his jacket so away that i try to transform. People and companies is through a lot of steady purposeful son. But it's it's not week. No and i don't get that from you. I think you as you said in your way of coaching. Someone is to say you're not living up to your best. It's kind of like you. Expect them to show up and be their best. And you're not gonna let them get away with it because it wouldn't be for them to get away with it. And i appreciate that. Let's go back to ashley stewart. Let's find that little bit of history of i know the stories of the say that there's no wi fi there and had kind of been long pushed away but the colonel was when you really discovered who that customer was and then you did cut corporate corporate employees there people that didn't want to go your way right and you may not have replaced them. So how does somebody get to that point when you're approaching with kindness but knowing that there is going to be an end of the road for certain amount of people. Yeah well it was. It's a it's a fun. It was a maelstrom right. You have to picture. Lawyers and restructuring people not of your listeners are probably going through. This probably scared because they're not deal guys. Unfortunately that's part of my life as a private equity investor right. I know the lawyers and accountants in the process. It's but i knew the process but yeah they were there like consultants that restructuring. Be on the bankruptcy attorneys. They're all running around. And but i was there to basically keep calm say. Don't bother these people i like. I know what's going on to. You can me and yeah picture hiring a police officer to protect employees because they were worried about filing for bankruptcy a second time because they hadn't been paying bills and they were worried about being shot by vendors about that germany selling scrap metal to make payroll while all this is happening with no computers in wi fi by the way so all this is happening and i'm away from my family and i'm alone and i talked about kindness and i tried to get people to see what was really happening that this brand wasn't there was another asset to it that you couldn't see which just relationships and a feeling of belonging right a feeling of trust amongst employees customers and i really thought it was a metaphor for a lot of things right that about america. I think that america at its best has been that. I feel like we're losing our grip on that. A bit communal accountability empathy for somebody else. Being able to acknowledge that you know it's fascinating to me. Is the ashley stewart. Story is one about it coming organically up from who they were that you didn't come in and suddenly put something on top of it. You just said we've got to get this other stuff out of the way so that they can rise and that's a very different attitude right. A lot of the stuff that gets in the way are the things that we call organizational structure. We call systems. I got it's exactly right. I got rid of a lot of stuff. That was sort of clamping down on the spirit of and the ethos of the brand and i used to call it sort of control anarchy and i let this woman be herself in all its glory in a in a lot of ways. It's a real commentary. Now i've got a lot of these calls. Now they're like. Oh my gosh. Before you know black girl magic and black lives like this was seven years ago. I just said listen. I don't like. I don't think that you are being presented correctly in media because the women that i'm meeting here you're great leaders and that you're like i. I don't see that in regular media like they're not seeing this about the friendship and the generosity stories of resilience and the best friend he could ever have you know and we became that over the last seventy years two but anyway so yeah. I just got rid of a lot of this. I have protect this. Little amber from the systems right legal system accounting systems all systems that i was a master of dominion of the systems like literally flipped back to being a immigrants child. And say no you these systems. These aren't ripe. And then prove to everyone within the company and try to get them to see. No no no no this your this. Don't care what people tell you right in everyday. Let your this. And i think that if your this that all of you together are this and i don't care that it's a corporate entity like it's just a vehicle right it's just one vehicle and then people started really seeing believing in. Obviously that's not easy to do but a lot of that was. I think inherent to my leadership style too. I don't talk a lot. Like a lot of the stuff comes out now. But i tend to just do it once and then i do. I act right. I don't talk in particular a whole lot nor do i admire that quality. Another other people either. So just do it. Then if you're so smart or if you're doing let me see you let me see you do it. Let me see you get people to do it and to believe. Is that why you guys moved your headquarters for you're all rented you halls and you all just went and did it. Oh my gosh removed. Entire picture this after we we moved entire h. q. I think it was like one hundred fifteen physical servers at that time like propped up on shoebox and stop. We moved in a weekend. And i told everyone during that time. Listen i want you to burn everything. Leave it because i was a failure like the corporate entity failure. Twenty two years of tilleke said the only thing. I wanted you to bring your spirit. What the things that we're talking about. What's best in you in the brand the customers and bring your laptop because we can't afford to buy bring that to right and that was it and you know that was for six months. Yeah i just listened a lot and got to know a lot of people very intimately and you're right not everyone made it and it was okay and i. I never kept that philosophy forever. It was like that in my private equity days to there's no good guy or bad guy. It's more like this. is the culture. What we're trying to do. This is what i would do if it's not for you if you don't feel the spark feel the spirit just go find another job. It's no. It's not a problem. And i don't want i don't want to make a big deal of it like let me help you find another job you know. It's it's that and we had a real purpose to what we were doing. A core group of us and it was really actually as hard as it was. It was the best when no one knew what we were doing because it was just us and we were doing it for no other reason to just try to do our best against a lot of odds and we all really liked each other you know and it was a little bit of butch cassidy and sundance kid. Except you don't get shot at the end by the militia or delman louise when drive yet thumb louisa when you drive off the cliff but we didn't fall like we built a bridge and car kept going but it was in that spirit until you have really slit your wrists together and just trust in each other but the way just so I just want all your listeners. To know i want you to know in two thousand fourteen spring when i was begging for money to back. This plan that me. This very well wired private equity guy. I got exactly zero people back me not like a whole world and i'm a long track record of doing this a lot of companies. This isn't like it's not the only one right. And so what was that about. 'cause you're numbers. I'm sure were there. You painted the picture right. Did they just not believe in the target market. They didn't believe that brick and mortar was possible or the perennial take perennials stepchild. Anyway like you know it. It was happened half right it was. The company has never made money. James company doesn't even just got wifi. What are you talking about this strategy that you have. What are you talking about. This open source organizational strep strategy. Does that what that. What are you talking about. The fact that you're betting on like nasa loneliness and disintermediation of the organization that agile organizations that are at one societal and corporate at the same time win. What does that all mean james. And then some of the rejections not all of them but some of them were decidedly Those are the ones that got under my skin. More they had not misogynistic racist undertones. Right we don't understand them wouldn't them we don't understand them like oh okay. That's not for us like she's not they're not for us and i'm like okay and remember these people. I live in a lot of world. This is the world. I know private equity. That's the world. I still into and so some of those comments didn't sit well by the obviously gave me extra motivation so in the end of the day i got the money i called him jets. I had a way to everyone said no because at that point i was the ceo. So you've conflicts right and then once everyone said no. I had a gut check moment. I look in the mirror and say okay my heart. I'm right to am. I willing to really put my money. Where my mouth is and and it was both right. I had made a commitment to these ladies. They trusted me for six months. I didn't want them down. And i believe in them. I believe that they would be there and they would be there for me to and i for them. I felt like i was right as an investor. Like i was right about the future of the world about the future race future of retail future. A lot of these things. That i was very confident in the mathematical in marketing equations. I wrote that was just more truth. Like i wrote them. And so yeah showed up a bankruptcy court with a wad of money in my head and said you're not frigging liquidating this company. And so you see. I have to believe you were the pioneering conscience capitalism aren't you i mean like it may not have pencil out right but you knew it was about something more than these stores but that idea of doing better. Isn't that part and parcel of. What made america great was that we said you know lifting one boat lifts us all up and we seem to have moved into this other place. Where if your boat goes up that means it takes for me. And i think you're exactly the opposite. Which is why it was successful and ultimately in twenty twenty one. When we're trying to get our ideas back we're trying to bring our economy back after this raging pandemic. Why wouldn't someone embrace that instead of this mean cut or punitive way we look at employees and customers and to have the balls to just go for it man. Yeah it's like aren't even like employs our fellow citizens right. We become very narcissistic people. And i think that look human beings the way our brains are wired wired in two ways one ways really incredibly gracious generous way like us seeing someone trapped in a burning building. Have the synapses to go into that building to save somebody that you don't know we all have it. We also all have an awful set of genes and neurons. That desperately tried to create others so that you feel good and that you destroy others. It's been like that for. That's human nature and i refuse to believe that. Let me just say this. I don't want to live a life personally. Or i think our country's better than what we've shown that cuts across all political lines all races all these things i mean i just done and i and i'm not all for. I'm also a capitalist to right. So what conclusions. That i made with ashley stewart and for my whole life. I've never had a for profit and then a not for profit side to james. I try to do one way. So why not try to make money for constituencies including shareholders including myself in for profit by trying to create positive externalities for society. While doing so like why. I don't want to be part of a business where i make a lot of money by destroying people or by selling stuff that is deceptive that makes people feel insecure that provides false information. For god's sakes praise on children like i would never want to be part of a business like that as an investor board member as consultant. Ceo adviser just had shame but those thinking this time of unrest. It's easier to go that way that it will always be harder to go to that spirit of hope that i come from a long line of preacher so maybe i just start off from you have to have the hope in the future and you have to believe in that but let's face it we've seen in the last several years how fear and anger can be corralled into a very potent a tight laser whereas when you're talking about we can lift all these other people up. It's really dependent on more people than just yourself to see that vision right. I mean that's that's what you do with ashley stewart. Well here's the good news. I posted recently on On instagram very silly photo of me sitting up on stage at the big show january two thousand sixteen of sitting there up with i think terry longer than the ceo. Of macy's at the time and greg friends to see of us walmart. So this is me and the big show opening keynote. Five thousand people. And i just talked about this. Trust about the future of the world was going in that you could be perfect in the exact collar size and cuts since slips and forms. But if you're not getting the macro strategy correct forget it you're dead and there was just a gasp in the audience. 'cause but a lot of people in that audience. They came up to me a to right. You're right and we're glad that someone saying this that in the meantime that was early sixteen but things accelerated right as as a capital markets got more furious and companies like amazon at all got access to infant amounts of capital infant amounts of currency for compensation. Look what's happened like you have an entire industry namely school retail that just got literally another industry roseau and took chair and it didn't have to be like that it didn't and it's still not too late for some for some navy but it's not too late anyway. During that time. Starting from that coming out party. I was overwhelmed. I help gracious so many people were in trying to help me and help my team and help. The employee base do what we did and it was individuals because individuals always make the difference right like individuals deliver systems individuals deliver companies and. I always challenged people when they say it's too hard. The systems unlike last. I checked individuals right assistance. So i don't believe in that. Well i think that's the story of your life though my friend here you. Are you graduate harvard. All your buddies are going off to be a or disney or something. And what do you do not school high school. Like what the hell is that. Make sense and then you go through. And you're nurturing these people you're investing in different companies also teaching at duke and mit. And you want to beat that generous person right now. I don't know if you've crafted this individual. Because i always think of myself. I kinda crafted myself. I don't think i was always this guy from where i was a little kid. I think there is an element that we say. This is who want to become. And i think our strength in the world is frost. Show that to other people that it doesn't have to be this way right. What if you could be fully prepared to lead your marketplace in the new retail surge for twenty twenty one restore your sales volume to pre pandemic levels and start seeing double digit sales increases every month. What can happen but only if you train your associates. That's why you should check out. Sales are x dot com. We train every associate how to engage a stranger. Discover the shopper. And yes make more sales check out. Sales are x dot com after this broadcast so many people are afraid of thinking. Big like you did i mean. Do you think that you're born with it or it could be learned or is it. A matter of of hearing is like you who've done it that inspire us to to just say why not wrong. I don't think there's an english expression that i just learned as called. Kati wobble which it means this meandering. It's a verb to kati. Wampler through london means to like you walk aimlessly in your meandering but it to the outside. It looks meandering but in your own heart you know what the end purposes so i think my life has been a good of khadi. Won't bowl. I know what my purposes i knew young. I really do care for people a great deal like i really do. I always have. And i think there's a certain amount of time when you're in your high testosterone alpha thirties and i'm jay. Fives managing billions of dollars. Money it's hard to that may not may not be the coolest attribute to have but i think thirty seven was a key year for me when i just quit a very prestigious job in boston to just do my own thing because i wanted to run my own money doing my own way. I think i had the courage to that point to just try to just be person. Why wouldn't i be that person. There's no like being that type of person but also being able to wheeled money wheel. Legal documents lies that that as been taught in every film. You've ever seen that. it's bad right. We all know. The mr potter's wonderful life. We all know if someone's trying to kill the world the guy has money that images of someone like you in a marvel. Comics just isn't gonna happen my friend new but in that pot so wonderful life. That's a great degree that you brought that up because like in a lot of ways. I watched that movie. I don't know how many times at the end. I always get choked up. Because i think a lot of ways like dreux me that ashley stewart moment when i was forsaken by everyone else other than small group at home office a large group of black women and a handful of my friends who gave money to buy the company at a bankruptcy jimmy stewart moment it really was. It was I'll never forget it. Actually and i'll always be very grateful to the employees who believed in me when even though like i failed actually until a desperation. Me saying i'm right but that moment yeah. It wasn't a wonderful life in that movie. Jimmy stewart prevails and. He may not have the most money. He may not have the most anything. But i think when you look at his balance sheet he had the most friends most goodwill and most positive influence. And that is the nature of what i do in as an investor like i help companies create those massive long-tailed jimmy stewart positive system dynamics right that's what i do like. I helped them structure the correctly their marketing campaigns that our culture. I coached the ceo. And say hey you know. I get the rest of the boards on your for the quarterly results. But i got your back. I get what you're trying to do and you're thinking five six seven years from now right i hear it. I see both attend to play that role a lot in saying i know what reality is but on a long term investor warren buffett but like i think investment style. That's more my style. I like to be part. Long whole things i don't know. Yeah that's what i'm teaching. That's what the nature what i teach at. Mit sloan at duke law school. These are like these are deconstructed principles. I teach at mit helping tease. Their organizational system dynamics ordination dynamics like it's the intangible things. How do you unleash it. And i think these days what's happening. Post george floyd posts. Were still in the virus and we have existential crisis right about humanity and as you know retailers just it's a secondary tertiary output of how humanity interacts. Right it's not a driver of humanity. It's just a reflection in this environment. There's a lot of eureka's going on where people are saying. And these are leaders of large companies saying to me in many different industries in. Oh ashley stewart. That's a paradigm for what we're talking about right now. Efg race diversity safe places. A profitability massive tech revolution without killing brick and mortar jobs. How'd you do it. I had this whole then. It's a lot of this. it's a combination. It's what i'm teaching. It's a mixture of or studies neuroscience accounting marketing theory. All these things. But i always start by saying. I'm not gonna teach you the math until we talk about the. Why why. why do you want to do this in. Tell ceos i'm like you understand. You have so much responsibility it's A lot of pressure. There are a lot of jobs. Families razor thin. It's razor thin right. The safety net and one of the challenges. I think that this retail industry as it really has to really look in the mirror and face right. It's the quality jobs it's hard. It's really hard bounce right. And i think we all have to really think about that. First job was washing dishes at red lobster. Think it was three dollars and thirty five cents an hour on route. Three forty seven near smith even mall in long island and i needed to make money because we didn't grow up. There was a lot of extra money in the ryozo. i needed money to take detailed girls to like friendly's and then to buy records at sam goodies type. I needed money. But there's always a story behind the story. That's what you're saying is there's an alternate why for all of it. Why does it happen. It's not that we're carrying. The dress is now. we got the widget alternately. This is doing something to bring somebody value in their life and wondering this kind of fall back with your dad. Didn't he dedicated his life to kids into making the world a better place. I mean you had that example growing up right now both parents so my my parents were you know. I always used to tell my wife. I'm like i wonder why. I'm such an entrepreneur. My wife says you're dumb like your parents emigrated here. They like ripped up every credential. They had nineteen sixty six. They came here with nothing right. They had a. My dad had a medical degree. Mom's nurse so they were both in the caregiving industry end I grew up around us my whole life that me and my dad was a pediatrician and when he died so in two thousand fifteen. Now it's crazy like to see the letters. He got thousands and thousands of letters from his patients from the families. Saying i read them all like you gave us care when we had no insurance when my husband lost his job you'd never charged us. That would come home very late. And he retired knows like exhausted. He did that and when they started getting more. Complicated with the billing with medicaid and computer systems. That was my dad. Thought apple would not succeed because they didn't come with instructions. My dad was not a very tech savvy guy. I grew up watching that and my mom was like that too. My mom ended up going back to. She's was a housewife and raised dots potentially renewed nursing degree in english which was a big deal because her english was not good and she actually worked at a veterans home because she wanted to help take care of the korean veterans who fought in the crane war so i grow around that we were as a family very focused on trying to do what was right trying to take care of other people and yeah i miss both of them right so my dad died. Really when i started ashley stewart and my mother died when i left and there's a real symmetry to what happened like it's almost like a story but i'll tell you getting over my mother's death still. It's not an easy thing. My dad's been gone for a long time because he effectively died many many years before he died because of parkinson's just took him away. But the women of ashley stewart the family built their. I the amount of support they gave me when they showed up at my dad's way my mother's way like flowers and like it was like national grieving when my mother passed away in september two thousand nineteen. It was national grieving because the women they they felt like they knew they understood that they understood after seven years. When i said you know you're my mom like my mom. And so yeah. I think people who knew me could feel it. Go to if they went to some of the shows that we put on the events. It wasn't like it was more just a celebration of the human spirit right. It's that feeling when you watch rudy being carried off in at the end of rudy. Well you know it's interesting to me. I mean you've done that with a smaller company. so and you have success with turning around struggling retailer. So why not run a gap or a macy's or victoria secret. I mean i think you said you go to boring businesses because you want to. Is that in the cards. Or is that like i've done that already. I spent a lot of time. Since i left ashley stewart. Just being free for the first time in a long time there was a lot of on my shoulders. And i miss people like as individuals. But i just think him in like so for me i got over. I realized that. I'm in an interesting position to maybe do some broader systemic things for our little country that we call the united states. I am kind of embracing the fact. That maybe i'm this accidental. I told you this accidental begrudging public figure like it wasn't i didn't know i don't know what's happened but i kind of i guess i am and i just want to be a part of the solution. So what does that mean. So i'm teaching right. So i teach at mit at duke. I'm teaching a lot of ceo's but it's not consulting teaching right does that make like just sort of in that way and then working with people. I don't really feel like. I have a lot of non friends Come with work with me. Let's do this together right. I am on the board of these big not for profit. Industry wide efforts like the thirteen hundred signatories to the ceo. Action for racial equity. That the dave a taylor. And tim ryan and i joined the board conscious capitalism which is just another form of thinking coalition of ceos. And cos. i'm still on that board of j. p. morgan chase advancing black pathways so in terms of financial systems is how do you create more equity in the capital system like making money making margin so i think that's my role on middle flywheel to a lot of different entities and organizations. It's nice to be independent. Because i'm not restricted. Some some ways and then you'll see some announcements coming up in the next couple of months. That are kind of pretty big announcements and then the other thing that i'm doing. I'm writing this book. That here's my fruitless plugged. All go sign up for red helicopter dot com Just going to ask you about red helicopter. Why the image of the was that. You've spinning the red helicopter. By the way in the the no i look there will be one day. I'm creating a master curriculum. That trains leaders. So whether it's the stuff. I did a do or not or all these things. It's my. it's the way that i approach change. So it's this classes on all interwoven. By the way it's like mathematical neuro psychology organizational behavior marketing dynamics legal ethics aristotle. Plato thorough buddhism curriculum trying to get people to suspend disbelief because one of the things in our society is that we all get programmed to only think a certain way and lead well then we color selves a reason. We put a whole story behind that that makes us go like and that's why i'm right and you are right. It's that story behind it whereas the story you're telling is one of inclusion and bringing people together so it would seem to me a guy like you who can synthesize that and make it. You can do this to score a lot of traction but it really pushing his intellectual curiosity in humility. I think most great scientists know. They're the arctic scientism art. There are note very few certainties. You're always trying to disprove yourself in science. So i apply that to business just to be naturally curious to just say oh. My what i did. Yesterday doesn't work in. That's cool right and or it's more of a positive thing. I like looking at people insane out. You think you can only do this. I think you can do these three things. Like i'm gonna show you can do these things but see that lands in such a different place my friend because suddenly even you just saying that you can listeners. I'm sure your shoulders just went up a little bit and you're like really we all little kids at that moment. Where like really believe in me because we don't hear that we haven't felt that in a long time it's sad it leaders are like but that's part of my own thing about leadership is like come on. I think it's if you think about if anything i hope. People realize mashpee stewart. Why was so important. If you read what i wrote in the harvard. Business review piece. I just said my name is james. There were no credentials. I'm james i don't know what i'm doing. I'm probably the least qualified person to do this. I hope that as you get to know me you'll see that. I know some things in that can help pull out altogether. But you're right. I don't know. I can't wait to learn. I would love for you to teach me you know and mrs take a walk. It's like the end of the movie. Wedding crashers when it's like. I'm not ask you to get married community. You wanna just take a walk and that to me was one of the most important things that first interaction i had with people in the field and in the home office particularly the field. I also said something like on. Never know the stores as well as you. I trust you and hopefully you'll trust me but i'm not going to ask for your trust in words. Just watch it was that but a lot of these things people have to want this. Like the tried and true way of saying okay. I'm going to go into my. Mary poppins bag. I'm gonna do the same. Damn things ain't gonna work. It just won't well. Plus it discredits all the people there. I think in a way that is so fundamental. You obviously don't know how you'd be doing it and trying to pick up. That trust seems to be much harder than where you just meet them at the mat. And say new running buddy. Let's go do hurdles flexible right. I mean instead of. Oh i'm gonna tell you what to do. You need to eat more. And let's just go running. We see moments. I think when brands come out and can get above that cynicism but as a unified way to say. But i'm teaching it so that more people do it. I think you're the right guy at the right time. man. I think it's what monies are waiting for. I think it's gen z. I think we're we're all waiting to say what else could i do. But i need someone to believe in me. I and that may sound a little shallow. But most of us are in the way that we plant the bush and then we go after with hedge clippers and say. Why aren't those damn employees working. Will you've cut off all of the spirit. Their personality stopped at the door. You should be put fertilizer on. There should be tried to say. How do we get more sun on this situation. But that's not how most of us instinctively were taught. Does that make sense. Yeah it's command control chip. You can't do that and it never. It never really has worked. It's worked for large bureaucratic organizations that are content growing at gdp and just surviving and yeah he sort of punching the clock in your years as the ceo. And you leave and look i. We aren't inflection. Point is a country as an economy. The retail industry is at a massive inflection point. It has been for awhile. It's why i said at the big show. I just said i looked at the audience. I said we had zero money. A track record of success zero everything. If we can do it you can do it. But what does that mean. it's a classic you have to be with a walk away from things that are successful. now that you know won't be a year or two from now. It's very hard to do that. I get it but you have to. And for me as an equity. I most of my life. I didn't have w. two income right. I made money as an investor owned. And so it's a real owner mindset. I think a lot of family owned or personally owned small business like the fight. They're putting in right now during the code environment. They're fighting for their lives. It's hard and i want to help all of them believe me But that's sort of novelty that sort of entrepreneurship and that only comes when you have a real sense of ownership right like when you really to me as for giving advice to see a large companies. They don't own a multi billion dollar companies. But the thing. I often suggest to them. Is that what you do on. You do own a responsibility to try to realize that your employee base. They're really having a hard time right now. And it's it's not just the money in its human beings have so many different forms deconstructed everything to think capital people think financial capital. Lot of my life has been successful unleashing social capital using financial capital and then just leadership but we translate compensation to just money. But ask anybody if you took time to ask. People not in some random survey that people send out from hr but like a real conversation. What is it you most desire as what makes a good employer good employer. They'll tell you the same things. Trust trust is number one right on freedom like to have some self determination right to feel like you're making an impact that you're not being with the cameras and if you haven't need an extra day of leave because your daughter's sick you can take the day i it's right like it. Just all boils down to trust in humanity to realize that good employees will not take advantage of the system. They won't make it long term right. If you can come to grips that you know we are talking in this country. That reason from the greeks is a superior brain function but that emotion is weak and negative whereas real neuro-scientists. No emotions are every bit as much of your brain matter as quote. Rational thinking like it's can really suspend disbelief in realized that we were taught a lot of things in school and in society because our brains functioned away that they can't help a compound allies things in simplify things until like ab ab ab man woman ab like well the decide. What's a man. that's a man. That's a woman she has this he does that black white right just left side right side brain which is also a fallacy. Where my view. I think it's help that i'm this Asian american guy born here who had only white friends in long island in that is married to a white woman ran. A black woman's company might my whole life is massive united colors of benetton. I've had so many different quote jobs. I don't view them as jobs. Have you them more as like experiences. Like i just my whole life is like one big colorado. I dunno bauge sounds weird out now by this. Big rain will what it is. Everybody's quite work. Hold one caller right so like you know how in prison these seven colors come out but the primary colorado see without a prison as white light right. I kind of see like all seven them at the same time maybe insane. Yeah why not like. Why can't that be like in the go in. That wouldn't be orange in at school. And then on my gosh we're gonna mix orange and indigo together while up. We got a brand new brand right while you've been stuck in this job forever and you know what you're gonna kill it in this job it's gonna be awesome for you. That's how i've tried to live my life and it's been rewarding on a personal basis. I always delight in seeing people. It makes me happy old up people you can't you can't change people's mindsets and behaviors and you can make them better. I but not changed them. You can make them better by having faith in them and then once they have faith then investing in them because there are skill sets right. You have to should learn certain things math and like you have to learn some things but if you feel insecure and people are telling you you suck. You can't learn you can't and or you don't want to. I think in our country. This is the high school teacher talking. Now we've got a country. I think that tells a lot of young people that they suck or like would makes them scare. Well let's let's be honest. We have a lot of social media. That says you suck because you're not this person so there's a comparison you can't get away from it right at least in my world when i was growing up and i'm definitely older than you but when i grew up you didn't have all that stuff. It was really. You could be more than mind over matter because you didn't know somebody else was doing x. Or wires e but if you still had that north star that it's about empathy it's about compassion. It's about holding myself higher than i think you end up finding the way forward. I saw you speak at davos this week. So tell me this message is going to resonate with them. Is this the same message you're gonna take or it. Is i think a lot of the things i'm doing now. People asking about future of work future society and future organizations because those are all of organizations right future of countries. It's one big organization i am. I am very optimistic about and realistic about. How people are wired is never going to be all unicorns and rainbows. And but i am. I'm talking to about these sorts of things and the correct measurements. That take a little bit longer to measure with. Which is why you throughout all the organizational stuff. 'cause you knew that you just said you have to. It's it's circles not lines and most companies are should be built like that two versus lines and opened opportunity. I think that's the other thing you get from you is. There's so much more than we're capable of. And we're looking for. And i think you see that and i think we feel that just talking to you here. You've been really gracious with your time. James a main any final thoughts about having success in in retailer life. Yeah i think that my advice would be this and all of this will be in my red helicopter dot com book. It's a real going to be very readable book about lessons on very complex things but making it very easy to grasp us tangible things so that you can implement them in your life i think the theme of the book though is we are all grappling with not to send buddhists our own insignificance and there's a lot of suffering. I think we all as grownups. No life is incredibly hard really hard. They they don't tell you like when you're when you're growing up and the only way you get through life and the fact that we're all insignificant you have these very micro relationships with people any muddle through it that that really is the only thing right to sort of put some purpose in some i would say to everyone. Just don't forget that and obviously there's a lot that can come from that statement. Would you please try to be modestly. More empathetic and patient with people now like there are very few things that are more important than trying to leave the suffering of like a fellow human being let alone co worker to me. That's one number two the source of a lot of angst in companies in society in people's lives and the hallmark of lives and companies and brands. That buck this trend is that there's a lack of self determination that people feel trapped that they feel like they're basically in prison hours. They can't make enough money to retire when they want to. The the vacation times regulated might leave. Time it's so regimented. and great. Companies leaders in brands will create cultures and systems that allow people to have the dignity and teach them what self-determination means because with agency comes accountability to right. You can't just be given agency and you then have to be accountable. You have to understand with that comes responsibility. And if you breach it then Can work here right. You've reached common trust but people have to learn what that means to have agency system. That does that but isn't that scary. If you haven't had that model for you if you don't know what that is. It's almost like we're taking off the lines on the road and the guardrails there's certain amount of human nature when you think that gets pretty scared at that like but i could go off the road but i. I don't know what i'm right. How do you get. Somebody opened that. It's a great point and so from a company perspective on answering to as from a leadership perspective because they're a lot of your listeners. who are they manage. Somebody ryan you have to give agency with training wheels. There's a way to do it where listen it's in the smallest things. You don't have an extra day of paid leave. Or i know you need some extra flexibility here. Just use it wisely okay agency but the second thing is you're right you know. The biggest problem is in this country. No one wants to invest in people in the most important way. Education system sucks. We spend all this money and like teachers get underpaid. We all know that you know like the testing's off is not correct they're measuring there's massive buys and testing the asset that does not depreciate in a human being is your education only thing. No-one that's what a lot of the civil rights leaders used to say right. They can't you can't take that away from you can take your brain away from and so what. We have a society where we're under investing in people of all races by the way and particularly of ninety nine percent of socioeconomic classes. Let's be very blunt about that too. I'm a product of a public school system long island very proud one and i'm not sure if i would get that education today. Not sure if that's true. I'm sure that i would not get the education i had in toledo. Ohio may not a resource room in nineteen sixty four. We go watch little film strips on our own if we did enough good things that all sorts of unlimited books sopher guy like me who is naturally curious great to me. Oh everyone gets this right and then you realize like no. You're in the one percent dude like no one got that and you suddenly say like my friend sheila. You'll who ran for california senator. I think a representative and i was at a fundraiser for many years ago and she said it all starts at birth. Oh it's a girl and you're like oh my god and you suddenly realize that there is a different world out there that unless i'm willing to be in the other person's shoes unless i'm willing to say you know there are other things going on here. I think again we tell ourselves a story that i'm right or and that's just not what what we're seeing and certainly not your experience certainly not the women's experience that you have made a difference in in secaucus. Yeah and so. I think in private sector employers until we sort of think about fix our public education system. There is more onus on private sector. Employers to reinvest in their employees. Like i would be a big proponent. If i was on capitol hill and making lee training reskilling doubling deductible for companies. Not making that up right so that if you can prove that you invest in people who got they earn more learn a different skill you get a tax credit. That's what my passion is. And that's the work. I'm doing on the ceo action. It's really an education subcommittee. That's why on teaching at the schools. I'm teaching at. And when i can share the other big news. Maybe you'll do your share with your listeners. Like they'll understand what i'm doing. The puzzle pieces will come into play. I wanna make an impact on younger people education. Because as i get older. I don't think there's a bigger payback on investment than investing kids. I said long ago ally care about his education system unless we get this fixed were doomed unless we empathy when those kids learn how to put a shot in my body or whatever. It's gotta be unless we have a way to rebuild the gossamer threads it community which i think retail is what builds it. Because it's that one moment of kindness when you walk in the door that i model that. Oh there's hope for society without that if it's all going to be an online world where we're just rask's to the cheese then click and buy. I don't think there's hope for us. So at what point do you are you able to say look. I can't fix everything. Is this what education is for. You is this. What is about is that but for anyone that comes in contact with you a guy that says. I think we should do a podcast for years ago. Somebody who's on instagram. And says can you help me an investor who might be listening today. Is that it that your personal brand. Your personal connection is what that's all you can look at it this point. Think that's the most i can do. And that's what red helicopter is. That's why i'm picked the boards. That i'm on picking the podcast that amman is that you try to maximize impact by spinning as many fly wheels as possible and picking your partners and friends wisely who maybe share some similar thoughts in hopes. That maybe by doing that. You can ignite more fly wheels together. This book is coming out. Wendy you think. I think i ended up talk. This is new for me to wonder new experiences. Like a book mike. Okay show our drive at So i think. I'm talking to publishers in april and then i hope to get it out within that year within a year and i'm gonna i can't wait because i want a lot of my retail friends to read it because i think will help them like just think about their own businesses reinventing their businesses and donate. I don't know you don't me scholarships i'm gonna have fund with the proceeds from this book. How many a lot things me awesome. Because a lot of the organizations right teach spoken a lot of companies train people. When i was done it for free. They've been very gracious. People like all by thousands of advance copies of this. You don't think that. I can raise a lot of money and that would be awesome to be able to do that like to you know i'm an investor so when i when i give someone a scholarship i'm literally i made an investment and i'm gonna walk like i'm gonna watch that's the best. That's the best my friend. You've been great for your time today now one more time. How can they find out more about you and your work. You're doing okay so you can go to lincoln. Which is my only dorky social media. I'm now on instagram and twitter. I m james re unverified bob which apparently saw the czech art. My friends on a cool. I don't know why. Because i never used them. But i m james re and then on red helicopter dot com. You can sign up for information about when. I announced the book. I'll send you an email and saying it's go time and that on that site over time you'll see lessons like i'm gonna start just some interesting metaphors in lessons and maybe build a little community on that site know that people can share ideas and in a safe way and sort of. I'm trying to trying to just get new generation leadership just a new style where you're not killing people. It's not toxic. you're not no. I think that you can do well financially but you can. Maybe share a little bit more than people are. That's it that's the best my friend will. Thanks very much for your time today. I've i really appreciate it. Our call was fun. It's always fun when we speak. Thanks again to my guest. James re james has always looked to make a difference in his story about kindness and teaching throughout his life. Genuine in a world of ruthless. Talk about punishing. The competition. james has shown kindness is the competitive edge. Anyone needs to incorporate and to teach to grow their business if you like what you heard today. Won't you take a moment to give us a five star rating on your podcast app. That will help. Even more people discover us. I'm bob phibbs. The retail doctor. Thanks again for listening. Tell me something good about retailers. The podcast of the retail doctor visit retail doc dot com to learn. What makes bob phibbs the authority on brick and mortar retail across the world who works with some of the biggest brands all the way down to the smallest mom and pops as a listener of. Tell me something good about retail. Podcast you can receive free information and guides when you visit retail. do c. dot com and sign up for our exclusive weekly newsletter for more information to access the complete archives of past retail goodness and to see about bob speaking to your audience. Please visit retail. Doc dot com.
650 - 5 Tips for Building a Side Business
"Support for this podcast and the following message come from access and opportunity a podcast for Morgan. Stanley. Women, entrepreneurs of color traditionally have a hard time accessing capital to start or grow their businesses joined vice-chairman Carla Harris as she introduces us to the dynamic investors, entrepreneurs, policy makers, and others working to close the funding gap for these entrepreneurs listening subscribe to access and Opportunity on Apple podcasts spotify or wherever you get your podcast. Pay. Everyone I'm Laura. In this is the money girl podcast where my mission is to help you live rich and love the journey. One of the best ways I know to create more income and to diversify your income sources is to build a side business. For most of my career I've been either part time or a fulltime solo for Noor, and that term simply means a business owner with no employees instead of hiring people directly so low preneurs typically. Contract with other small business owners when they need help and that's what I've done for a long time. Even when I've had full-time W. two jobs having some kind of side hustle as a writer podcasters consultant has been a great way for me to expand my network, build new skills and earn more money and I hear from many of you who are interested in doing side work or maybe you've already started and you've got questions about. The often confusing world of self employment I hear you sometimes the barrier to starting a profitable business. It's not like Oh lack of determination or lack of a good idea. It can be that you simply don't know how to start a business I. don't want any confusion to discourage you from striking out on your own or building aside business for additional income. So to, write a book about it. I M super excited to tell you that my newest title money smart. So low per noor. A personal finance system for freelancers entrepreneurs inside Hustler's is out and I'm even more excited because I love giving away free stuff. If you preordered the book before it officially goes on sale September twenty second twenty twenty there is an awesome bonus package that. I'll tell you more about at the end of the podcast. In this show, you'll hear a short excerpt from money smart solo per Noor. It's just a portion of chapter three, which is about keeping or leaving your day job. So if you're in that position or you're just interested in Sala tips to earn more using low risk business building strategies I hope you'll stay with me. You'll find the notes for this and every show in the money girl section at quick and dirty tips dot com. This is episode number six, hundred, fifty called five tips for building assigned business. Are Eight. Here's the excerpt. You've probably noticed that people are embracing entrepreneurship like never before due to the widespread availability of technological business tools. There's never been a better time to become your own boss with an Internet connection and a smartphone or laptop. You can work from just about anywhere on the planet while there's nothing wrong with holding down a W. Two job and getting a steady paycheck having income from your own business comes with many upsides but been dreaming of quitting Your Day job to start a business, you might be wondering if taking such a big leap is worth it. The good news is that there Are Incremental ways to become self employed that are stable and reduce your risk instead of plunging abruptly into a precarious financial position. In this chapter excerpt, you'll learn practical strategies for building a solo business while keeping the security of a regular job becoming your own boss may seem glamorous from the outside, but it can have stressful pitfalls such as little pay, no insurance benefits and unpredictable clients. However, you can avoid or minimize some of the downsides by maintaining a reliable day job while you grow your solo business having the security of a job and the excitement of becoming a solo for Noor. Gives you lots of upside with much less risk. A steady paycheck may give you the confidence. You need to take business risks such as buying more advertising, acquitted or software that will make your venture more profitable aside from maintaining a reliable income stream being both an employee and an entrepreneur can make you a better worker in my experience growing aside, business also builds skills and experiences that make you more effective at your regular job. You may even find your side-hustle revives and appreciation for your day job. There's a lot to like about having a salary benefits and other perks at all whether. You decide to be both employees and your own boss for weeks or years it will take some juggling to manage successfully here five tips to face your career fears responsibly and prepare for the future by adding entrepreneurship to your resume on the side Tim Number One is define your vision for success before changing your job or making the transition from employees to self employed solo per Noor, take the time to define what you truly want to achieve in your career. Sometimes, your ideas about success come from other people, and they can cause you to follow a career path that never truly fulfils you. Maybe, your boss. Regularly work late so you can climb the corporate ladder or apparent says you should go to graduate school. You might take a lucrative job in a field. You're not crazy about because that's what your friends are doing. But if that job requires frequent travel when all you truly one is to start a family care for aging parents or spend time enjoying where you live, you'll never be happy if you don't pause periodically to reflect on. What success means to you. It becomes easier to follow other people's priorities when it comes to your work. If your decisions aren't purposefully leading you toward a life that excites you, you'll likely wonder away from what you genuinely want never let external mercker of success such as a big paycheck or a fancy job title become more important than your heartfelt calling in goals for your life that said getting in touch with your real desires is always. And you might have to listen carefully to hear your inner voice try incorporating some quiet time into your daily routine when you first wake up or when you're settling down at bedtime, think about what you're grateful for. But also what you'd like your life to be consider your definition of success and any changes you'd like to make to your life in the near and distant future ask yourself the following questions to better understand your values and get clarity on your unique vision for success. What type of work makes me happiest? Where do I WANNA live? What types of people do I want in my work life? What does a good life mean to me? This exercise isn't something you do want to figure out the arc of your entire life. You need to come back to these fundamental questions during different seasons of your life and career because they answers may change sometimes repeatedly. Over time, your working life is sure to change both in good and bad ways when you find yourself getting restless or feeling like you want more from your job slowdown and become more introspective, it can reveal a lot about what your next career or business moves should be. The. Second tip is create a side. GIG. Even when you're clear about what you want, one of the fastest ways to ruin your financial future is to take a flying leap from a steady paycheck jumping from day job into an uncertain fulltime venture too early could mean trouble you might face significant financial struggles and even get into debt many businesses take years of hard work before they're profitable enough to support you hanging. Onto Your Day job gives you the financial security. You need to try out new business ideas. Especially, if you have a spouse partner or kids who depend on your income, the best side gigs combine work that you're excited about with something you're uniquely positioned to provide these businesses may also come with a large existing customer base or appeal to customers who are willing to pay you well for the skills and experience you offer. I was a part time entrepreneur for a decade before I said, goodbye to my employer I enjoyed having a mix of job stability and entrepreneurial upside plus I found that expanding my career by adding self employment to a W. Two job. Made me much better at both if you slowly add entrepreneurial experience to your career, you're likely to gain a variety of skills that will make you more valuable to employers it may. Be Easier to experiment with business formation ideas when you have less financial stress or no side Gig could actually complement your existing career. The bottom line is that creating a business on the side protect your income diversifies your network and improves your skills instead of leaving you financially vulnerable if you enjoy your entrepreneurial work and find that it pairs well with your day job, the benefits and personal growth can really pay off. Before I go on I wanNA share a word from our sponsor Gary L. Smith's new book purpose driven achievement is common sense approach to effectively using purpose and planning to achieve your business and Personal Dreams, Gary Smith is an author Dave Ramsey certified financial coach who's been in the business world for over forty five years. He has over twenty years of experience as a personal business and investment coach. In purpose driven achievement, he guide you to discover your unique purpose in every. Area of your life. So you can solve financial problems and overcome the obstacles to your financial goals. You'll learn how to clarify your purpose to find your obstacles, implement your goals and access support on your financial journey, and you'll learn how to create an achievement system to propel US toward success and the I fifty visitors to Gary L. Smith Dot com slash money girl will receive a free e book download of purpose driven achievement that's Gary L. Smith dot com slash money girl. There are a lot of different personal finance apps out there most of them rely solely on AI, which can leave you feeling like there's something missing. That's why you should check out Albert Albert combines proven technology with real human guidance to help you stay in control of your finances so you can find your happy balance. Albert Genius gives you access to real financial advisors. You can message anytime wondering how to build credit or if a fancy brunches in your budget just ask Albert has other game changing features like. The Albert Savings Auto Save function and the Albert instant zero interest cash advance function no matter what your finances look like Albert is there to help I. Love. The fact that Albert combines real human guidance with super sophisticated tech that monitors your spending and adjust for you. Albert makes it incredibly easy to automatically save what you can afford install from the APP store or Google play today to find your happy balance and get a bonus of up to forty dollars when you start an annual subscription to Albert genius. Tip Number three negotiate your job flexibility. If you plan to start a business on the side or you already have you know you'll be working more perhaps a lot more you might need to work early in the morning late at night or on weekends to fit it all in that could stress your relationships or cause you to burn out if you don't take some precautions, what's you're confident about your business idea or you begin seeing increasing revenues you may find that you need more flexibility in your schedule at that point, consider some different ways that you can tailor your business for your day job and vice. Versa. Remember back in two thousand and eight when my employer began feeling the financial pinch of the great recession, my podcasting and blogging career had started to take off by that point. So instead of allowing my position to get downsized I proposed a That my boss light I'd work four days a week for a couple of months, and then go down to three days a week for the rest of the year. Then we'd reevaluate where the company stood and discuss whether he could still afford to keep me on as an employee. My employer would save money by paying me less and I'd have more time to work on creating content partnering with Brands and writing my first book while still having A. Regular paycheck coming in if I hadn't suggested that solution by company wouldn't have known that I was willing to cut my hours. I didn't offer to tell my boss what my plans were for my newfound free time and he didn't ask you to may be able to negotiate with your employer for more flexibility. You might ask to work fewer hours to maintain the same total number of hours but work fewer days per week or to work more from home. If you have a long commute or you spend a significant amount of time getting ready backing lunch and getting out the door in the morning working remotely could save a lot more time than you think and of course, many of us are working more from home during the coronavirus crisis that extra time you save could be invested in your side business. TIP number four fine more time in your day if you can't get more flexibility or you worry that even asking for, it could put your day job in jeopardy. There are other options. One is to structure non-negotiable time for your business into your day. For instance, make a rule that you'll step away from your desk for a solid or longer if possible during, let's say lunch to accomplish something meaningful for Your Business, find a nearby cafe or reserve a conference room in your office where you can work and eat undisturbed I did that for many years and it's incredible how much you can accomplish and forty five minutes if you truly focus. If you can't find enough quiet or privacy in your office, you could even work in your car if working on your business during your lunch hour isn't possible with your day job consider coming to the office and our earlier or staying. Later, the idea is to create a routine that builds in regular time to focus entirely on your venture into complete essential tasks. Another option is to outsource a portion of your work. If you can afford to delegate tasks to freelancers, can help you balance your to do lists. And when Your Day job is so unpredictable that it prevents you from working on your side Gig for long periods consider getting a different job with a more reliable schedule. If you're truly committed to getting your business off the ground, you may need a position with more flexibility so you can do both more easily. An elastic is to have a solid exit strategy. Having an exit strategy is a common concept in the business world partners and investors want to know what will happen after clearly defined milestones are reached such as after taking a company public or selling it after a certain profit margin is achieve but employees should create exit strategies to it's a great way to force yourself to think about the future and what you would or should do next with a W. Two job. You never know what's around the corner. Your company could suddenly downsize after merger or an unexpected loss of market share. Your department could be reorganized after new leadership begins. All of these scenarios have happened to me at some point in my. Career it's wise to start every professional relationship with an idea of how it could end. This ensures that you're never caught completely off guard knowing that you thought about the end of job or a business partnership can make you feel more secure about a potential split. If you're unprepared for an interruption in work or business income, it can be devastating to. Your emotional and financial life so whether you're laid off or you voluntarily quit prepare for it. Now, if you have a financial runway to find new opportunities or you've built an income from assigned business quitting or getting fired can be a positive experience having a good exit strategy can make the difference between feeling crushed by job loss or becoming empowered by it. I hope you enjoyed this brief excerpt from my new book money smart. So per noor. If you WANNA learn more about the book and the Awesome preorder Giveaways, send me a text text, the word pre order all one word P. R. E. R. D. E. R. The number three, three, four, four or visit Laura de Atoms? Dot. com. That's also a great place to email me money question I. Love to hear from you. I'd also love to hear your voice on our message line. It could be a question comment or an idea for a future show just call three, zero, two, three, six, four, zero, three, zero eight to leave your message. That's all for now, I'll talk to you next week until then here's to living a richer life money girl is produced by the Audio Wizard Steve Ricky Berg with editorial support from Karen Hertzberg. If you've been enjoying the PODCAST, please rate and review it on Apple podcasts that's an easy free way to give back, show your support and helped me listeners find us. You might also like the backlist episodes and show notes that are always available at quick and dirty tips dot. com.
649 - How to Make Money Investing in Stocks
"Support for this podcast and the following message come from access and opportunity a podcast for Morgan Stanley women entrepreneurs of color traditionally have a hard time accessing capital to start or grow their businesses joined vice-chairman Carla Harris as she introduces us to the dynamic investors entrepreneurs policy makers and others working to close the funding gap for these entrepreneurs listening subscribe to access and Opportunity on Apple podcasts spotify or wherever you get your podcasts. Hey, everyone. This is Laura. Adams. I'm the host of money girl I've been hosting the show since two, thousand eight and the mission here is to help you live rich and love the journey. I'm really glad to have you with me and today's topic is going to be related to investing. We're GONNA talk about stocks in particular this is a topic that can really be a head scratcher for a lot of investors particularly new investors I think the stock market can seem a little mysterious. It can be certainly intimidating many people here that stocks are. Risky and at the same time, they know that they have potentially higher returns. So it's kind of like this push and pull you want those high returns but yet you don't want the risk I think that can be confusing. So this podcast is going to break it down. We'll explain how to invest in stocks. When you have little experience, you've got little money we're GonNa talk about the pros and the cons and the best ways that you can own stocks but also be safe. You can build wealth safely and I'm going to give you some really. Easy shortcuts to know how to buy stocks, how much you should buy your portfolio. So stick with me if this is a topic that you're interested in, if you're looking to build wealth using the stock market and everybody should be a hope you'll stick with me. You're gonNA find the notes for each show and the full archive of podcasts in the money girl section at quick and dirty tips dot com this episode number six, hundred, forty, nine, called a beginner's guide to investing in stocks. So let's. Zoom out and just talk about what stocks are in the first place stocks are intangible. There's something that you buy that. You can't see they give you ownership in a company. So you're also going to hear him called equities or equity investments owning stock even just one share of stock entitles you to a part of the company could be a part of their earnings were part of their assets and companies issue stock basically just to raise money, they want to get money from investors and they could use. It for a variety of things you know maybe they're looking to do some some research maybe they need to open a new division higher accrue talented people they're looking for money for a variety of reasons and publicly traded stocks are bought and sold on exchanges. You've probably heard of the Nasdaq he might have heard of the New York Stock Exchange these are some of the major places where stocks are bought and sold. However, you can only trade them through a broker or an investment firm. There's A. Kind of an intermediary that you have to go through to buy and sell stocks, and when a stock increases in value, it's called capital appreciation and that's a fancy way of saying that the price goes up and appreciates and that's what we all hope will happen with our stocks and you know as I'm writing this episode, I was looking at a few prices of stocks facebook and apple are selling on the Nasdaq and facebook right now is selling it over two hundred and sixty six dollars a share. Apple is selling it over four, hundred, sixty, nine bucks a share visa and Walt. Disney are on the New York Stock Exchange visas selling for two hundred, two little over two, hundred, two and Disney is selling four close to one, hundred, twenty, eight dollars, and of course, these values can change rapidly but right now that's where they are. So let's say you buy visa at two hundred and two dollars a share and the price goes up to two, hundred, ten dollars a share you can sell it for a gain of eight dollars. That's capital appreciation. That's how that's one way that we can make money on the purchase of stocks you can find current stock price quotes. At. A lot of different places. Google finance has a great place, a Yahoo Finance. You can just type in the name of any company or stock that you want to see, and you'll see that stock's price and the history in addition to the price going up or capital appreciation. Some stocks also pay a portion of company profits if they do it's called a dividend stock and they distribute dividend payments to shareholders. For instance, right now discover is paying a dividend of forty four cents a share. So if you own a thousand shares of discover, you would be paid four, hundred, forty dollars in dividends over a year. So that's another way that some stocks help you make money. Dividend, stocks pay you even when the share price goes down. So owning them as a smart hedge against potential market losses, and you can find a list of dividend stocks on a site like Morningstar. That's a great place to do some research on different types of stocks. But. Before you buy stock, she really need to understand the pros and cons. There are many advantages to investing in stocks. One of them is that you don't need a whole lot of money to buy them compared to other assets like real estate where you typically need a a really big down payment with a stock, you can just buy one share in it might be a dollar or might be one hundred dollars. It just depends on on what the stock is buying. Just one stock share makes you an instant business owner without investing your life savings or having to take on significant risk. Another advantage of making stock investments is that they offer the most potential for growth although. There's no guarantee that every stock will increase in value since the mid nineteen twenties, the average large company stock has returned about ten percent a year or so that's a pretty good track record. If you're investing for a long term goal such as retirement or maybe a an education for a young child, stocks can really turbocharged your portfolio and give you that growth that you need to achieve the goal over the long term no other type of common investment performs better than stocks. Now, the main disadvantage of investing in stocks is that prices can be volatile they can spike up or they can plummet quickly s trading volume fluctuates and that this is happening literally from minute to minute. News earnings forecasts quarterly financial statements. All these things are triggers that can cause investors to buy or sell shares, and that activity throughout the day is what influences a stock's price price volatility is the reason that stocks are one of the riskiest investments to own in the short term investing at the wrong time could wipe out your portfolio or cause you to money if you need to sell shares on a day when the price is below what you originally paid. But as I mentioned, you can minimize this risk although you can never eliminate it completely by adopting a long-term investing strategies. We'll talk a little bit more about that. So in addition to taking a long-term approach another key strategy for making money investing in stocks is called diversification. This means that you've got many stocks in your portfolio. You don't own just one I do not recommend you try to pick individual stocks. It's kind of like gambling unless you really have a lot of information. You know you do it for a living it's really difficult. To pick winning or losing stocks. But when you have a diversified portfolio, it really smooths out the risk and a lot of people are surprised to learn that it's better to own more investments or more stocks than less diversification lands you to earn higher average returns while reducing your risk because it's not likely that all of your investments would drop in value at the same time. For instance, let's say you put your life savings into one technology stock and it tanks. In trouble. But if that stock only makes up a fraction of your overall portfolio, the loss will be negligible. So having a mix of investments that respond to market conditions in different ways is the key to smoothing out risk diversification isn't a guarantee that you're gonNA, make a killing with your investments but the idea is that as some investments go up in value others made Klein and vice versa having a diversified portfolio prevents you from quote unquote putting all your eggs in one basket as they say. Before I go on, I wanNA share a word from our sponsor Gary L. Smith's new book purpose driven achievement is a common sense approach to effectively using purpose and planning to achieve your business and personal dreams. Gary L. Smith is an author and Dave Ramsey certified financial coach who's been in the business world for over forty five years. He has over twenty years of experience as a personal business and investment coach. In purpose driven achievement, he guide you to discover your unique purpose in. Every area of your life. So you can solve financial problems and overcome the obstacles to your financial goals. You'll learn how to clarify your purpose to find your obstacles, implement your goals and access support on your financial journey, and you'll learn how to create an achievements system to propel US toward success and the I. Fifty visitors to Gary L. Smith Dot com slash money girl will receive a free e book download of purpose driven achievement. That's Gary L. Smith dot com slash money girl. Before I, go on I want to tell you about today's sponsor indeed for businesses all across America right now it's a cautious time every decision or commitment you make feels fraught uncertainty. So when you're making your next hire indeed is here to help indeed is the number one job site in the world it gets you the best people fast and with their powerful sponsor jobs feature you're listening is three and a half times more likely to result in a higher with seventy three percent of online job seekers. Visiting indeed each month it's the perfect place to find the important hire you need. They've already helped more than three million businesses right now indeed is offering money girl listeners a free seventy, five dollars credit to boost your job post. So more quality candidates will see it fast try indeed out with free seventy, five dollars credit at indeed dot com slash money girl. This is their best offer available anywhere. Go right now to indeed dot com slash money girl terms and conditions apply offer valid through September thirty. So, how do you do that with stocks? How do you own lots of stocks instead of just one or two? Well, I WANNA put you at ease because it's really very simple. All you have to do is buy one or maybe a few stock funds buying funds is the way to go. This is a very simple inexpensive and convenient way to achieve instant. Diversification funds, bundle investments that could be a bundle of stocks, bonds, assets, or other securities into packages that are convenient to buy, and they're made up of many underlying investment. Some funds may focus just on one asset class only such as international stocks or domestic stocks. Others could have a mix of asset types. They might have a part bonds part stocks park cash. There are a variety of fun types that you may see depending on the investment firm us. I'm going to review a few of them here. You've probably heard the term mutual funds. These are very common. They are collections of assets that are managed by a fund professional and make you a really simple way to own a portfolio of many stocks. Shares can be bought or sold only at the end of the trading day when the fund's net value gets calculated. So there's a little bit. Of A delay with mutual funds, you're not buying and selling instantly like you are with another type of fund that I'm going to tell you about in a moment, but the value is calculated at the end of the trading day. So the other type that you probably heard of as an exchange traded fund or E. T. F., these are similar to mutual funds because they're baskets of assets, but they trade like an individual stock on an exchange. So they are experiencing price changes throughout the day. You've probably heard of index funds. These are a type of mutual fund that have a goal of matching or outperforming a particular index such as the s&P five hundred and index funds typically come with very low fees and they may be made up of thousands of underlying asset. So index funds or a great choice target date funds or another type of fund you may see on your menu of options. These are a type of mutual fund that automatically reset the mix of the investment so like the mix. Of stocks bonds and cash according to of timeframe that you select and typically it's your retirement date. So the target fund name might be something like target date no twenty, fifty some date in the future when you plan to retire or take start taking money out of the fund target date funds are a newer type of fund, but they do a lot of automatic rebalancing for you and so that can make it really convenient to own. You'll probably see those on a menu of investment options as well. So. What I'm telling you is that stock funds should be an essential part of your long term portfolio not individual stocks if you're young and you've got a long way to go before retirement, I would consider owning a large percentage of stock funds. All the prices will go up and down in the short term, you're likely to see prices trend up over time and that's going to give you an impressive return. So a lot of people have asked me well, Laura Right now with everything going on with the pandemic, there's so much volatility in the market should I stop investing and my answer? Is, always. No. There will always be volatility in the stock market you know no matter what's going on there's going to be volatility. The idea is that you're gonNA ride those up and down waves over time so that you are trending up ever. So slightly over time you're going to go down you're going to go up but over time that trend line is going up into the right. So we've got plenty of time that's GonNa work to your advantage but again, that's not gonNa work to your advantage if you're trying to invest in the short term so stocks are a long term play. And if you're nearing or you're already in retirement, you want to take a more conservative approach to preserve your wealth and that does not mean eliminating stocks completely from your portfolio. It just means that you want to own a lower percentage of stocks and I'm going to give you a rough rule of thumb to use when you're trying to figure out how much stock you should own. The rule of thumb says you should subtract your age from the number one hundred or even from one ten, and that number is the percentage of stocks you should. Own So. Let's say you're forty years old you would consider holding either sixty percent or maybe up to seventy percent of your investment portfolio in stocks. Now, if you are super aggressive and you've got a lot of tolerance for risk, you might go eighty percent or ninety percent it really is up to your individual risk tolerance. So this rule of thumb is just kind of kind of middle of the road way to think about it and in the remainder of your portfolio would be in other types of assets. So things like bonds real estate in cash. Again. These investment allocation targets are not hard rules because everyone is different. Everyone feels very different about taking risks with their money. What's important to remember about making money with stocks is that the amount you own should change over time When you have decades to go before retirement, you WanNa take advantage of as much growth as possible by investing the majority of your portfolio in stock funds. But as you get closer to retirement, you want to devote more of your portfolio to bonds and cash, which preserves the wealth you've worked so hard to accumulate. I. Hope that's been helpful to give you a primer on stocks and some ideas about pros and cons and how much you should have. If you've got a question or a dilemma related to investing I would love to hear it. One Way to do that is to email me a question at Laura de Adams Dot Com. Another is to join a conversation that's going on at a terrific community. Private facebook group called dominate your dollars. There's some really great people helping each other asking really smart questions and I'd love you to be a part of it to request your invitation. All you have to do is visit dominate your dollars on facebook or you can send me a text message for immediate access just text the word dollars do l., l., A. R. S. TO THE Number three three, four, four, four I hope to see you in the group and I'd also love to get your voice mail message. We have a dedicated line just for you. You can call three, zero, two, three, six, four, zero, three, zero, eight to leave your message twenty, four, seven. That's all for now I'll talk to you next week until then here's to living a richer life. Money girl is produced by the Audio Wizard Steve Rick Berg with editorial support from Karen. Hertzberg. If you've been joined the podcast, take a moment to rate and review it on Apple podcasts, you might also like the backlist episodes and show notes that are always available at quick and dirty tips dot. com.
What Was Prop 13 Creator Howard Jarvis Really Like?
"Everybody. I'm Joe Gear fully the chronicle senior political writer and before we get to today's show I, want to talk about something that I'm really excited about it's a special podcast series that I'm working on with Toco and the chronicles Washington correspondent it's called Chronicle who is Comma Harris And it's coming on Monday October twenty six. We'll tell you everything you need to know about the vice presidential nominee and the chronicle has been covering hurt since one, thousand, nine, hundred, four longer than just about anybody talk about her childhood in Berkeley and how that shaped her time at Howard University and about her political career course we look at that central. That's always been at the heart of Comma. Harris she progressive for she caught. Or can you be both? Again it's called Chronicle, who is Carla Harris? The whole series drops on October twenty sixth but get on Apple podcasts wherever you get your podcast and subscribe now. So you'll be ready for it when it lands okay. Let's get onto today's show. We're GONNA talk about Howard Jarvis the man behind arguably the most influential ballot measure ever approved by California voters. Proposition Thirteen, I've written about proposition thirteen for years, but I didn't know much about Jarvis himself but our guest Jason Cone does his documentary about Jarvis called. The first angry man will be broadcast on kqed.org on Friday October sixteenth and is available for streaming everywhere. Learning about Jarvis and prop thirteen is valuable for a couple of reasons it will help you understand why property taxes in California have been low. And why public schools have been underfunded For the past forty years. You also learn a lot about the man to Jarvis's remembered as a tax fighter with this film. Also look at some of the dog whistle racist stuff that Jarvis set over the years and how the prop thirteen movement linked up with the Anti busing movement in the nineteen seventies in parts of California to magnify fears among white homeowners about how the state was changing demographically. And this is also a good time to talk about prop thirteen because there's a measure on the ballot that would change the way commercial and industrial property taxes are assessed. It's called prop fifteen. Now, let's talk more about Howard Jarvis and prop thirteen with Jason Cone. Jason Code from your home in. Berkeley. To My home and Oakland. Welcome to it's all political. Doesn't person. This is where we're probably like two miles from each other. I would have liked that Joe. But I'm glad to be with you in any case. So I moved to California about fourteen years ago a fourteen years after prop thirteen passed nineteen, seventy eight written many stories about it but I don't know much about Howard Jarvis himself, he's the godfather prop thirteen. And other film described him as a gadfly. Somebody that the political establishment had ignored for a long time. He was originally from Utah was a Jack Mormon. If Fallen Mormon, drank and smoked he was dad was a Democrat in the State Supreme Court Justice Jarvis himself was a small town newspaper publisher and he moved out to La in the nineteen thirties and got involved in the in right wing fringe groups the John Birch Society which is very anti-communist a group that. was out there for several decades. One Drop Jarvis in his early days. Yeah. He was a really interesting character. There's not that much known about him. Other than his what's in his own book was called he wrote it after prop thirteen passed. It was called mad as hell and it's sort of a classic work of political. You know self lethality. and. Political scientists who have read it and done a little background research say that you know it's not one hundred percent truthful about everything in his life but you do get a picture of of a very You know ambitious guy. You. Know One thing we don't talk about it in the in the film at all but he was actually quite a good athlete apparently baseball player semi, professional baseball player, and a boxer. He was very competitive and kind of tough guy and. Did fairly well as a small businessman with. Small newspapers across Utah, and as you know, did he move to California I? Guess in the early nineteen, thirty s he had been involved in Republican politics and he ran for office many times. was never a successful. He has sort of most notable campaign which we do talk about in the film. I thought was really fascinating in one, thousand, nine, hundred, sixty, two, he decided to run for Senator in California. Now, he's very much a political neophyte. Who had never held political office and he decided to challenge a sitting Republican senator in the primary popular senator named Thomas Key goal and he ran from the right basically challenging Kiko as calling calling him soft on communism. This is the height of the cold. War. There were sort of whisper campaigns from the. From the John Birch Society, insinuating that Thomas Kiko was a communist and. Gay and Howrah Jarvis challenged him and he was not successful but would he founded his sort of barnstorming across the state was that his? His anti-communist rhetoric sounded like everybody else I guess you know he wasn't sort of making waves with his anti-communist rhetoric but he found that the issue of taxes really resonated with people there were there was A. A contingent of people in California. Especially, I think in rural areas who are really unhappy with the amount of taxes that they were paying, and so from nineteen, sixty two, he was the guy who kind of became like a single issue. Gadfly he would spend all of his time in city. Council. Meetings in Los Angeles or whatever haranguing. Politicians about taxes and that became his thing for you know the rest of his life. And he and but is he saying the film California was a different place in nineteen, sixty, two it was. The height of expansionist mode. The Pat Brown Gerry Brown Dad is many in this generation may know. Was was there is a lot of highways being built. There was the aqueducts being built for North South carry water all over the state There were the UC's were in expansion mode I think eleven campuses were built in the fifties and early sixties and this it was a a. California's different place and taxes were were high the nationally the upper tax rate was what ninety percent. and. Then you you say that he kind of So. That was he was sort of man out of time then but in the seventies. Is he saying the film the sort of the perfect storm hit? People were disenchanted with government after Watergate Vietnam War He was the the oil price shocks and in California property taxes Shot through the roof. And so. Now, the governor was Jerry Brown in the mid. Seventy, S. And the state had six billion dollars worth of taxes that they endured always being very frugal. He was always worried about the you know the oncoming storm and they unspent then people were saying, Hey, once kick that back down to us what would add jarvis go from gadfly to sort of being in the leading edge of all that stuff Yeah, I mean I think that was his that was his genius or just sometimes genius is just being in the right place at the right time. You know he had had the same message for the previous sixteen years and he kept repeating it and. People weren't ready to hear it. Until as you say, all of these factors came together to make a moment in time where he suddenly seemed like a profit instead of like a Kook and you know as a kind of overnight flip innocence. And but you know what we tried to focus on with the film is is that it's not really. So much about taxes I mean it is obviously about taxes but the deeper layer there the deeper level of thinking that that Jarvis was smart to key into was. was that it's not what you feel about taxes necessarily what feel about government? and. So what he was really doing was undermining people's faith in government and I think that voters in California and the rest of the country were kind of primed for that because as you say, there had been a series of. Really corrosive events at the national level Watergate and Vietnam War. The oil price shocks, you know the sense that that government was not doing a good job of managing things. And he was able to use that to say. Not just say you're paying too much taxes, but that government is. By its nature not capable of doing the right things with your money, they're just all it is waste fraud and abuse. You know those terms that we're so familiar with now I think he he kind of Pioneered that that line of attack. Well. Let's let's listen to a clip from the film right now and and so we have to hear what Howard Jarvis is like many people who knew Californian's like myself dinner thirty years, but but but newer people weren't around in that Arab may not know what he sounded like and you compare him to. Howard beale the the great character from from the Oscar winning movie network. You haven't seen network kids go check it out nineteen seventy six best Oscar. Movie. Is that the the A newscaster just fed up with the system he said everybody go outside of your windows right now and say, I'm mad as hell and I'm not gonNA take it anymore and there was Howard, beale element to Howard Jarvis? Let's listen to this clip right now. He wasn't the usual suit that you saw on television debates and in Press Conferences Mike. Mike ties rumpled shirt trump suits are kind of baggage. Cast someone for this role it was our Jarvis. Consumer he wasn't a handsome man or anything like that, and he didn't use a lot of high flute and words. But then I don't think those those were to Woah politics anyhow. Filled with losers I don't know I. Right. Up to their ears, the object is to get the job and sit there and they get a painter. And in the he problem is there's no point in trying to control what he says anytime that the League of women voters comes out for something that people better vote against it you'd have to take the bad with the good. Not Life Liberty and wealth they're. Not. Live liberty and food stamps not life liberty and illegal aliens. Just like the language of Donald Trump have to say really reminded me of that. You talked about minorities who didn't work. The welfare cheats he kinda wrapped all that in this anti-tax rhetoric but you say, I, don't give a damn what they think about what I say. That was the beauty of our Jarvis. He would say whatever was on his mind tells those little by Jarvis as the front man for campaign. He says, he's Kinda pretty much running this out of his back pocket now statewide ballot measures in California. Takes four million dollars to get enough signatures on the ballot. You you. You have to pick consultants and this can go twenty, ten, twenty, thirty, forty, million dollars to pass something. Tell us about how prop thirteen was run. Yeah. When he when it started, it was really just Howard Jarvis and he he hooked up with Paul Gann who was you know another? anti-tax advocate up in Sacramento. So they what what Jarvis noted was that attempts to get a tax limitation measure on the ballot in California always ran up against this problem of getting enough signatures to get it on the ballot. It's such a big state, and so he he believed that he needed just him down in in in southern California by himself. He didn't think that he could get enough signatures. So he hooked up with this Guy Paul Gann who is in Sacramento insurance salesman used car lot. Guy. Who has also against taxes and they together with Paul Ganthier getting the Northern California and and Jarvis getting the southern California they believe maybe they could finally get one on the ballot that'd be successful. but for the most party was it was Jarvis. and that's why everybody called at the Jarvis Initiative. And he you know from the beginning was very much the energy behind the thing and he would go. Anywhere you know if it was if he was invited into somebody's. To Talk to seven people in somebody's. Living Room and it was going to be a two and a half hour drive to get there. That's what he would do and that's how he was running the campaign for such a throwback right? It was it was old school retail politics in a state. You know of I don't know if you know now it's what forty million people it wasn't back then, but it's still was still a very big state with a lot of territory to cover. So at some point some. Professional politicians kind of recognized the potential of this movement and they came into the campaign and so he he had like a professional campaign team immediate team. And you know an EXEC who sort of helping him make decisions about what to do. So he started to do a lot more media where he could reach people. In much larger numbers than he was able to do just kind of from living room to living room and they found that he was a very compelling figure on camera. Not because he was smooth, not because he was good looking like Jerry Brown. But almost the opposite reasons because he had a kind of authenticity he was you're cranky uncle at the Thanksgiving dinner table. Who who knew his subject pretty well, but was not. A. Didn't feel himself limited to. Being strictly truthful about everything. Kept it. Simple to it was not is not is not getting into deep political theory there. No, he wasn't view. You can glean that from. Prop Thirteen, the language of the bill itself. It's very, very simple. You know what it does is just as across the board, all taxes are going to be. Limited all property taxes are going to be limited to one percent of the vote. And the State Legislature Jerry Brown at the time, we're trying to come up with a much more complicated formula for how to do it fairly so that the people who could afford to pay higher property taxes, corporations would pay higher taxes and the Little Old Lady in Pasadena, who's on a fixed income and is in danger of losing her house for property taxes got to high her taxes would be heavily limited they were. Trying to figure out a technocratic solution that would please as many people as possible, which is what elected representatives are supposed to do and Howard. Jarvis cut through all of that with just the most simple formula. You could possibly have everybody's property taxes get cut right and let but let's also look at and you get into this. The film hit lot of the rhetoric has and and was using had been using for years. Is just it's full of dog whistle racism. He's talking about quote. Unquote freeloaders. And there's there's a racial component to prop thirteen La Los Angeles is much changing about time as parts of California many. Latinos. Immigrating to the state and the people who are benefiting. From prop are largely white and older Californians. Let's listen to another clip here about how clip number two, how this is a revolution but a revolution of the haves the state has become an octopus is just gobbling up all our little homes. This was a very compelling story it was not. After a decade of protests led by students and people of color a different voice was rising above. The Din. The Voice of. White property owners a revolt of the half's. They consider themselves the cornerstone of the tax paying public and they consider themselves the one group that could not get any kind of relief through the legislative process. Talk a little bit about how there is an anti busing movement. Going on at that time. Again bussing was was away to seem to integrate schools schools for more affluent, largely white neighborhoods going to communities of color and and back and forth. Talk a little bit about how that anti busing movement. Hooks up with the pro prop thirteen movement. Yeah. We we kinda focus on the busing movement as being. Ill Associative of the way that prop thirteen was intertwined with race at the time and you know I want to be really careful to say that you know if you voted for prop thirteen, nine, hundred seventy that doesn't mean that you were racist you know. I can understand why people would be offended by the idea that this had anything to do with race but I just think that it's very clear that it did it was it was in the. These. Zeitgeist of how people felt about government at the time it was changing and it was changing for some of the reasons we talked about earlier. You know the things that government had done the head. Sour people to government like Watergate. But another thing that government had been involved in is this sort of great historic. Enterprise of. Creating Equitable opportunity for all Americans which includes things like integrating schools. Affirmative. Action Policies in education and in hiring. You know all kinds of. Programs and and laws. The Civil Rights Act that government had been involved in to try to create more equality in society that was extremely bound by race, and there's just no question that that was part of what was changing the attitudes of a lot of white voters in places in California and elsewhere, and that's part of what made people kind of turn against government they started to feel that government was playing a redistributive role taking from some people and giving to other people and we do focus on on bussing with was extremely. Controversial in Los Angeles have time. Let me tell you I was. Eleven years old in California when prop thirteen for maybe ten. And I remember you know being in a an area where I would have been Boston I really didn't want to be bust and my family was opposed to prop thirteen but we were also really scared about busing. I'm in the idea of you know as a ten year old kid of having to get up. An hour earlier and get us to a school across town. All of that was really scary and It was very emotional for a lot of people and the the two issues happened at the same time. The leaders endorsed each other's causes. You know the the anti busing. And the and the tax revolt people. Endorsed each other's causes and the to God intertwined. But I'd say there's another thing that was. We. Don't talk about really the film, but it was also very important which is house. School how Education K twelve education got funded was through local property taxes and there was a supreme court. Decision California Supreme. Court decision that said that the way that local schools were being funded was inequitable because schools in rich areas which were mostly white were lavishly funded and scored schools in black and Latino areas where the property taxes in a produce less revenue were were impoverished and the schools didn't have enough funding. So there was an effort underway to start moving property tax revenue from richer white neighborhoods across town to black and Brown neighborhoods, and that was also part of Zeitgeist at the time and. People were much more comfortable to pay higher property taxes when they felt that the revenues from the property taxes is going to go to the neighborhood school. and you know help their kid or they're grandkid. Less. So when was going to go across town to help some kids that they didn't We back with more about prop thirteen and Howard Jarvis. After the short break support for this podcast comes from dropbox business thing about the people you work with your all supremely different but that's what makes a team. So valuable different skills, different backgrounds, different ways of thinking and working. So why force everyone to work the same dropbox designed a new kind of workspace a space Where whatever works best for you works best for your team where every file, an APP connect tasks not only assigned work, but also help organize it where you can create new decks spreadsheets and even launch video calls without ever needing to leave your workspace. That's dropbox business a space for teamwork your way try dropbox for your team at dropbox dot com slash teams at work. And now let's get back to our conversation with Jason Cone About Howard Jarvis and the legacy of proposition thirteen. So let's let's talk about the. Start to go here, the legacy of prop thirteen you you get into that little bit in the film both the both the legacy to Californians like us, and also the national legacy One of the legacies is that you know why? So many California massive student debt that's because of the price of the UCLA has gone up why the the in Pat Brown stay was California higher education supposed be freed everyone now it's you know our. Families tens, hundreds of thousands of dollars in debt, the gap between the one percent and everybody else's widen and talk a little bit about for the California aspects of this and the national, how this kind of spread nationally and due to the White House. Yeah So. When we were trying to figure out how to talk about the consequences of the tax revolts in California. It was very difficult to figure out what to focus on because we're we're literally talking about everything the government does. was. affected. and. So you kind of do a survey of all of the things that were. That were Hamstrung. As a result of the constant. Deficit problems that California began having you know from the nineteen eighties on. The roads and the. The water infrastructure and policing and healthcare and all of that. but that didn't feel like it was going to be very good for a documentary and we wanted to find something that would have some emotional impact and. There was a a statistic that we came across which kind of floored me which is that in nineteen, seventy, eight when prop thirteen. At, a national level, the total amount of. Student debt. College student debt in. America was somewhere around zero zero dollars. Now we're sorry actually forget if it's one point five, trillion or two trillion or something like that is where we are right now some somewhere around two trillion dollars don't quote me on that. I need to look. It is a huge amount of money. It's and it's and that is a just a massive. Albatross Anvil around the neck of young people. When they graduate from college, it is an anvil around the neck of the economy in general. It's causes many. Young people from disadvantaged backgrounds to not even go to decide not to go to college because they don't WanNa graduate with fifty or sixty or seventy, thousand dollars in debt. And this is just something that you know. Every Californian I think should be obsolete ashamed of, but it's it is a national problem is not just a California problem and that President Reagan picked up on this when he was running for office and once he got into office of course, he he had been a small government guy all along and You know he picked up on this in you know. Wanting to shrink the size of government grover norquist's The famous anti-tax advocate had a politicians around the country signing no taxes pledges. To this legacy of Jarvis is is is resonating to this day? Yes that's right. I mean it was so. After prop thirteen passed. There was something that people called the spirit of prop thirteen and it absolutely swept across the country I think the first state. Was was Massachusetts Massachusetts which also has. An initiative system they had something called question two and a half I think which was very similar to prop thirteen. Idaho I think literally took the language of prop thirteen and just kind of replaced the word California with Idaho and got their version of prop thirteen. So you had dozens of states across the country doing very similar anti-tax or revenue limitation types of ballot initiatives the states that have. An initiative system like California does not all states do. At the national level. Jimmy Carter very much. Got The message and he very quickly turned around and and and signed a massive estate tax limitation So that was one of the biggest tax cuts in American history. So what happened essentially is there was a kind of contagion effect where. Journalists everybody was writing about it. They were saying there's a new national mood Americans. Are. Tired. Of paying taxes. Were heading in a different direction now and. We're sort of been in that for forty years and I think that you know if there's one big idea that we wanted to transmit with this film, it's the idea that. That that is the water that we live in. You know if you're you know the idea of the fish doesn't you know realize their on water. We don't really realize that we're in a tax revolt, but we have been for forty years. It is. It is very much the nature of Of. The Political Zeitgeist that we have been in who's you know fifty or so or less our whole political lives have essentially been lived in this mindset that what we can do as a nation is very limited because of our. Lack of will to pay for. What we need. And I wish I had a nickel for every time I've written TV or radio. How prop thirteen is quote unquote politically untouchable. The third rail of politics it's always been click the. Referred to as that, that is changing could be changing this year. Prop. Thirteen. A part of prop thirteen is on the ballot. It's called proposition fifteen. It would not affect residential property. It would change the way that commercial property is assessed right now it's commercial property's only re-assessed. Whenever changes, hands of whenever more than fifty percent of it changes hands. So the way get around about around this is that they sell less than fifty percent of their interest in in something. My colleague role. Leeann. I did a big story in the chronicle about this several days ago So this would now proc commercial property under prop fifteen, we'll get reassessed every three years. This could bring in up to twelve billion dollars more of revenue every year if it were to pass now A couple years ago John Coupons all the head of the Howard Jarvis Taxpayers Association the the legacy of Jarvis. Of protect the the legacy of the protect the the prop thirteen was all about he told me that you know adults who around as you say. Would prop thirteen was passed are aging, and so the people who originally around then who? Maybe. We'd been the original target audience are fading but yet he says their internal polls are still strong particularly in the residential side. Do you think that prop thirteen. The residential property side will ever be overturned. If you were a documentarian in the future. Coming back to do this story what would do you think that this could ever? HAPP. Well I don't want to send it too much like any Tony Burt here but. Don't know. I don't know that my job is to do forecasting. I. There's no question the prop thirteen. It has this aura about it and. It. No matter what it always seems to be around sixty something percent favorables in polls that the public policy. What is the? Yeah. The they do regularly and it it never really seems to dip below that right you know on the other hand, it's clear that Californians view of taxation in general. Has, changed I mean prop thirty which Jerry Brown was successful in getting past and you know raised income taxes on wealthy people and raised sales taxes on everybody that was passed by very comfortable margin and it was passed because there was a recognition that we had gone way too far in terms of disinvesting from public education and other things that we need. So I I think that there's I think that we're in a moment right now where you know both of those ideas are kind of uncomfortably existing side by side you know the idea that prop thirteen is sacred sacrosanct thing and we have to protect people's People's homes. And the idea that we need more revenue to do things you know to make the make the state, the great state that we all think it is but when we look around outside and we see homeless people living on the street and the schools falling apart and the roads falling apart you know there's this cognitive dissonance we we have this image of. Golden State, and we look around in. It's falling apart and we know that we need more money to do it. So I think that there's there's. Two things. In People's minds at the same time and it's kind of uncomfortable. As far as Fifteen goes. Polling slightly above fifty percent right now ladies about fifty one percent. Lot of undecided though, right. That's a very uncomfortable margin. I think that the you'd probably know more about this Amoeba. Sort of said, you know he needs to poll above sixty percent if you WANNA pass a ballot initiative I you know I. Don I don't know if that's true or not. That's the that's the yes that is the old saw you you start feeling a little comfortable if it's it's pulling over sixty percent in underneath that it's everybody's nervous because the the default on many ballot measures if I understand this or I understand what it's GonNa. Do Vote No that's generally pollsters say what I think is really interesting though is how both sides are a little bit disingenuous about about prop thirteen with this with this initiative like the if the yes on prop fifteen. Try to avoid talking about prop thirteen at all because they know that you know it remains popular and they don't want it to be about thirteen. They feel like if this is about prop thirteen, they're gonNA lose. So they talked about closing the corporate loophole and the prop fifty. The opponents of prop fifteen are completely disingenuous because they say that this is going to. Throw out prop thirteen and. Make the completely false argument that this is that it's going to take away. the the property, the residential property tax protections of prop thirteen, or they make the slightly more nuanced argument that it's a slippery slope and once the proponents are successful with this, they're gonNA come after your residential taxes. But I think that they're both kind of dancing around the issue though. It is the third row. We will close with they an Arnold Schwarzenegger quote on. On prop thirteen back in two thousand three when he was running for governor Warren Buffett was one of his advisors before it became an adviser. He said California's cap on property taxes. Quote makes no sense and then when he became an advisor to Schwarzenegger Schwarzenegger said if war ever mentioned prop thirteen again, I will make them do five hundred push ups. So that's there is a physical cost for mentioning prop thirteen. Jason Thank you so much for being on. It's all political the the the documentary is called. The first angry man it's going to be on K. Q. A. D. you can streaming all over the place you can catch it and it's a very timely film as we are voting in California and across the country. Thank you so much for being here. So it's been a great pleasure I said prop thirteen many times. I'm going to do about eight thousand pushups now. Thank you so much. I'd like to thank you all for listening and hope that you and your family are safe and healthy. I like to thank Jason Cone. He's the director of the first angry man which is streaming everywhere it'll be on K. Q. E. D. as we said on Friday October sixteen. I'd like to thank Karen Crepe for producing today's podcast. And like to give a shoutout to our fabulous theme music as always it's called cattle call and it's written by Randy Clark if performed by Randy, Clark and Crow Song. And don't forget. Coming October twenty sixth on Apple podcasts or wherever you get your podcast chronicle, who is commonly Harris, our deep dive into the vice presidential nominees history. Subscribe now and remember no matter whether you benefited from thirteen or been screwed over by it. It's all political.
All Your Genes Are Belong To Us
"This is planet money from npr for four decades. Chris hansen worked as a lawyer at the american civil liberties union. The aclu arguing big cases on things like internet. Censorship and school desegregation of people done raw. I love to right wrongs through litigation. Oh man that's a good feeling chris. Job was to be on the lookout for new kinds of civil rights violations and to figure out a legal strategy to fight back against them. I used to tell people that. Go in the morning and read the paper and see what new outrage going on around the country. Way to deal with it but one day back. In the fall of two thousand five. Chris gets his news. Hand-delivered the aclu science advisor pops her head into his office with an entirely different kind of issue than the kinds. he usually deals with. She tells him. I think i found you a new outrage chris. Companies are turning dna like our genetic material into intellectual property. She said to me. You know that genes are patent patented and i said patronisingly. You mean the methods by which the gene is extracted as patented. She said no. The human gene itself is pad christmas. Like wait you're telling me that. The united states government is leading companies claim that my genetic material. Everyone's jeans are their intellectual property and then they're making money off of it patents are supposed to be for inventions but his is like. I'm telling you. Chris people are patenting genes and i said that's just wrong less soon. Somebody chris starts looking into the world of gene patenting and the more he sees the more. He's convinced that has to be stopped so he starts trying to identify one company that can stand in for all the companies patenting genes. Chris figures if he can convince the right judge that what that company is doing is wrong. He can bring the whole system tumbling down and as he starts calling scientists and patent lawyers. There is one company's name that keeps coming up myriad genetics myriad is a biotech company in utah that had isolated and patented the genes responsible for most types of inherited breast and ovarian cancer and wants myriad owned these genes. They effectively blocked anyone else from doing comprehensive testing or in some cases even doing research on these genes that cause a super deadly disease. And when chris finds out about myriad he thinks this is the company i found my case. Mirrored was the most perfect poster child for the evil nature of gene pep. Hello and welcome to planet money. I'm karen duffin. And i'm alexi horowitz. Gauzy the patent system was set up to reward innovation by giving inventors the right to profit off of their creations. That's how we got cotton jin's and light bulbs and gramophones but somewhere along the way pieces of our genetic code the stuff that makes us who we are also got transformed into a couple of intellectual property today on the show view. Rise and fall of gene patents. How generation of scientific prospectors mined the human genome until nearly twenty percent of our genes have been claimed as private property. It's the story of company that pushed the limits of patenting power and the lawyer who went all the way to the supreme court to free dna from the tendrils of big. This message comes from. Npr sponsor microsoft teams. Now there are more ways to be a team with microsoft teams. Bring everyone together in one space with a new virtual room. Collaborate live drawing sharing and building ideas with everyone on the same page. And make sure more of your team is seen and heard with up to forty nine people on screen at once. Learn more about the newest teams features at microsoft dot com slash teams. The news moves fast. Listen to the npr news. Now podcast to keep up. We update stories as they evolve every hour. So no matter when you listen you get the news as close to live as possible on your schedule. Subscribe to or follow the npr news. Now podcast the story of gene patenting kind of starts in the nineteen seventies when scientists figured out how to modify genes in a lab until nineteen eighty living. Things mostly couldn't be patented but that year the supreme court said i guess. These new modified genes are inventions. And pretty soon after that the patent office started granting patents not just on those modified genes but even on genes that scientists had just managed to isolate an extract from the body which started this huge genetic goldrush hundreds of new biotech companies popped up and suddenly the human genome started to look kind of like an uncharted surveyors map with hidden treasure. Worth millions of dollars just lurking out there in the genetic code by the early nineties. One of the biggest genetic treasures was the gene responsible for most cases of inherited breast and ovarian cancer the b. r. c. h. Gene and women with the brca gene have up to a seventy percent chance of getting breast cancer. Compared to about just ten percent for the general population. There was an enormous international race to find this gene and when myriad genetics was founded in one thousand nine hundred one winning the race to find the brca gene was a top priority geneticists. Sean teigen was one of the first people hired at myriad genetics. I had never heard of myriad. In fact i was roughly employee number. Ten sean and myriad hoped that if they could find this gene they could diagnose people at risk of developing breast and ovarian cancer and create tests and treatments for it nasa whereafter in the end is to add years to the lives of the people who buy you know unfortunate chance inherited a mutation in one of these genes. The trick to locating this gene is to identify families where breast cancer clusters. And then if you compare the dna of the people in those families who got cancer versus older people in the family who never got it. It will probably lead you to the gene and in the race to find this gene. Mary has a huge head. Start mostly because of its location in salt lake city. Utah has this comprehensive database of anyone who's developed cancer in the state. It is also home to the mormon church which famously keeps extensive genealogical records show. They're thinking when if just cross-referenced reference those two databases they'd have themselves a ready made pool of promising dna candidates and then they could get straight to mining for mutations sean and his team at myriad get to work. They are working around the clock all hands on deck. How did you guys think about what the stakes were for you. Guys you know in this race returned to arrive there. I i was merely an existential question for the company. There wasn't any doubt about that. It was like if we can find this than the company is going to be successful. And if we don't find it we're probably gonna shrivel up and go hundreds of other scientists around the world were also looking for this gene if myriad doesn't want to shrivel up and go away they have to get to it i after four long years of mining. Dna myriad finally strikes gold they find the mutated gene living on chromosome seventeen from what is now known to be base pair. Forty three million forty four thousand two hundred ninety five to base pair forty three million one hundred twenty five thousand three hundred and sixty four myriad extracts and isolates gene and almost immediately stakes its claim on it by filing a patent but profiting off of that patent turns out to be a whole other problem. There's just no good way to make a drug or treatment based on this gene so instead they focused solely on making a test that would tell people if they have the gene. Though even tasked will be hard to make money off of because brca is like say cova testing where you might get tested over and over or a drug the take every day you know the same person will use a particular patent drug again and again and again and again but they get the information that they are mutations carrier wanted to. They don't need to have that test again. It's done so. The prophet situation is different. Myriad cooks up a solution to this profit problem i. They will make the cadillac of tests the very best cancer gene test of all time and they will charge a premium for it then myriad starts using. Its patent to do what happens. Do best to create a monopoly if anyone else tries to make comprehensive diagnostic test based on their brca genes including some researchers myriad says kindly cease and desist last piece of the prophet puzzle. They get to work driving up demand. Genetic testing for breast cancer was relatively new thing. People didn't really know about it yet. So myriad launched a big marketing campaign aimed mostly at doctors and clinics. But then they test out something that hadn't really been done before with genetic testing breast cancer runs in my family. My mother my dad's sisters. I wondered if it would be inevitable. The trade marketing their test directly to consumers talk to your doctor or visit brac now dot com myriad says they invested around five hundred million dollars to develop and market the test and that they didn't even turn a profit until two thousand eight and says patenting. The gene was the key. That's the only way myriad could get the time and money needed to create what they deemed one of the most sophisticated genetic tests to date attest that gave more than a million people information about their risk for breast and ovarian cancer. But as you may remember not everyone saw myriads business model in the same positive light first of all that direct marketing to a broad swath of consumers less than ten percent of women are even good candidates for this test so there were concerns that myriad was encouraging all of these people to try to get a test that most of them don't even need that cost thousands of dollars before insurance and back at the. Aclu that lawyer. Chris hansen by the mid-2000s he'd spent a few years learning all about gene patenting and looking into the ways myriad was doing business and he had a few concerns of his own for example. Chris says people who did take myriads test might have been getting a false sense of security because his cadillac of tests. The original version of that test did not screen for several dangerous mutations in the gene which came to light after they'd gone to market so that even if you are a result back from myriad saying you're fine you weren't necessarily fine which you know. Science is a process of learning but once myriad realized its mistake and fix the test if customers wanted to take their new and improved. Test that identifies mutations that was gonna cost extra and chris says myriad police it's gene patents so aggressively that no other comprehensive. Brca test was available. So if you were worried that myriad had missed something. There was no way to get a second opinion myriad. Genetics was the only place in the country. You could go if you wanted to be tested other labs could could technically do be. Rca screening were not allowed to do so because of Myriads hat myriad told us. Look we only actually filed two lawsuits against our patent but scientists. We spoke with told us that myriad also sent out a ton of letters that threatened legal action which had basically the same effect of shutting down testing efforts and many scientists were already frustrated with myriad because the race define these genes in the first place had been largely collaborative among scientists around the world and yes myriad had found the gene i but they've done it with the help of everyone else's published work and then they used their patent rights to essentially claim testing for it all to themselves and because really only myriad could test for these genes only they could gather certain kinds of really valuable new data about inherited breast cancer they collected and years of data most of which they also didn't share with the rest of the breast cancer research community. They had this gigantic database of brca one jeans and the various variations of the brca jeans myriad refused to share that database with the scientific community. We spoke to the folks at myriad and they told us that they didn't want to share their genetic database with the broader scientific community out of a concern for patient privacy. They say the pricing of tests has always been proportionate to the costs of developing and bringing them to market and they say they're patent strategy was in line with others in the industry. But chris's concerns went. Far beyond myriads business model far beyond myriad used it's gene patents for him myriad was just a symptom of a much more fundamental issue. The real problem to chris was that genes could even be patented at all. The notion that some private company to own a part of my body and i can't look at it without paying a royalty to some private company seemed to me blindingly obviously a civilization and when chris hansen sees a civil liberties issue. He knows what to do. Take them to court. That's coming up after the break this message comes from. Npr sponsor access and opportunity. A podcast from morgan stanley joined morgan. Stanley's vice-chairman carla harris. A thirty year wall street veteran as she introduces listeners. To the dynamic. Investors entrepreneurs policymakers and others who are working to close the funding gap for entrepreneurs of color. Listen and subscribe to access and opportunity with carla harris on apple podcasts. Spotify or wherever you get your podcasts. This is terry gross. The host of fresh air. I just interviewed former president. Barack obama about dealing with falsehoods like birtherism facing obstruction in congress. And why he still hopeful about american democracy. The episode is now in the fresh air. Feed chris hansen filed his lawsuit against myriad in two thousand nine and over the course of four years. The case made its way from district court to appeals court to finally in two thousand thirteen. The supreme court of the united states. By the time. Chris arrived at the courthouse for oral arguments that april morning. The case had gained a ton of national attention. Chris made his way to the courtroom past. Journalists government officials scientists protesters. There was a huge crowd and it was hard to get in. I had a bunch of relatives come to washington to watch me argue. The case didn't get in at long. Last chris stands before the judges to argue his case. And you know a few years before all of this. Chris didn't even know the difference between dna and chromosome and now he has to explain it. Expertly and compellingly with the brightest scientific and legal minds watching and the freedom of the human genome on the line. We'll here argument i this morning case. Twelve three ninety eight association for molecular pathology versus myriad genetics. Mr hansen mr chief justice. And may it please the court one way to address the question presented by this case is what exactly did myriad invent that is chris. Talking to the nine justices of the supreme court laying out what is basically the fundamental question in this case not is myriads business model shady. Not should they played nicer with other scientists. The question at the supreme court is a kind of philosophical one. Was this thing that myriad had done isolate the brca jeans was that an act of invention because the whole point of the patent system is to give people an incentive to innovate. You come up with a new mouse trap. You can file a patent and then you get to control who sells and earns money off of that mouse trap kris told the justices that had hadn't invented a mouse trap at all. What they did. Chris said wasn't make something so much. Just find something that already existed in nature for example. This court has used the example of goal. You can't patent goal because it's a natural product. Gene chris tells the court just exists. Like gold exists in amounted. The fact that you find the gold and dig it up. Doesn't mean you invented it. You'd have to actually do something to change that goal of goal for example if you find a new way of using goal to make earrings or if you find a new way of using dna do something. You may be entitled patent on that. And then when it's myriad turn their lawyers stands up and tells the justices yes. We did use natural material. But you should think of it like where sculptors when we chose where to carve out the specific. Brca gene from the human chromosome. That was a creation. A baseball bat doesn't exist until its isolated from a tree but that's still the product of human invention to decide where to begin the bat and where to end the bat like yes. The baseball bat is made of wood. Which is a natural product. But the would just show up like that you had to carve it into a baseball bat. Something that is patentable. Myriads lawyer tells the justices that is what we did. What myriad and veterans created in this circumstance was a new molecule. That had never before been known to the world. This thing they're debating is a gene more like a plain old raw material like wood or gold or because myriad had isolated the gene. Is that gene more like a baseball bat. Sculpted from a tree this is the philosophical heart of the case but it also raises a pretty major practical question that the justices start to wrestle with see the patent system incentivizes the thing you actually create the invention like making earrings out of the gold. But how do you incentivize the step before the invention. How do you get people to look for the gold or say look for a gene so that you can create a test for it if the highest court in the land declares jeans to be just another raw material by gold the justices start wondering will people still be motivated to do the hard and expensive work of finding new genes. Here's justice kagan mr hansen. Could you tell me what you think. The incentives are for a company to do what myriad did. Why shouldn't we worry that. Myriad or companies like it. We'll just say well. We're not gonna do this work anymore. It is a very difficult line to define like. What is the exact moment. When something stops being a raw material and starts being an invention a patentable invention at some point the arguments in the supreme court of the united states. Start to sound a little bit like they're floating around the purple haze of a sophomore college dorm room. Myriads lawyers like what he's is gene anyway. Man that remember genes are themselves human contracts mattie stuff man then one by one the justices start picking their own metaphors to try to make sense of all this justice sotomayor polls this hot. Take out of the evan with chocolate chip cookies like i dunno aren't jeans just like ingredients. I can be a chocolate chip cookie using natural ingredients. And if i come those in some new way i get a patent on that but i can't imagine getting a patent simply on salt flour eggs justice alito. Okay okay okay. What if the human genome is like a plant. You find in the jungle about that suppose. There is a chemical molecule in the leaves of plant that grows in the amazon. And it's discovered that this has tremendous medicinal purposes. Let's say medicinal he said. Medicinal the highest court in the land is starting to sound like the highest court in the land. Yes that as the smoke clears what starts to become obvious. The that's the justices are starting to lose patience with this philosophical argument. The isolation itself is not values problem. If you cut off a piece of kidney that that somehow makes peace patent mill absolutely not and after just over an hour. The oral arguments close. Thank you council. The cases submitted and with that after more than thirty years of gene patenting and four years of court hearings it was in the hands of the nine justices to decide whether the stuff that makes us who we are should count as property the day after the oral arguments. Chris fully retired from the law. This was his final case and then he went back to his house in the burbs to wait for the opinion and as he put it sit around for the rest of his life and two months later. I was sitting at home one morning. And i'm i'm sort of I don't know playing video games. i you know something. I opened up my email and there was a email that had been copied on in which one aclu lawyer would say to another aclu lawyer. Did you see the chris. Just run his case. It was the most anti-climactic notice of a victory that i can possibly imagine and one of the best Cc's on an email. I can ever imagine getting yes. The ruling was unanimous. The court said quote myriad did not create anything separating gene its surrounding genetic material is not an act of invention and quote the court did make an exception for something called cdn a which is a synthetic version of a teen but human genes that had merely been isolated those could no longer be patented and privately owned and with that thousands of gene patents that had been granted over three decades including myriads claims on the isolated breast cancer genes were invalidated and set free and these days any scientist or company who wants to is free to do testing and research on the brca genes many brca tests now cost thousands of dollars less than they did. Have its monopoly. We have made some tools for educators to use planet money in the classroom you can find those at npr dot org slash teach planet money that is npr dot org slash teach planet money and if you wanna email us. We are at planet money. Npr dot org. You can also find us on. Facebook twitter instagram and tiktok. We are at planet money. Today's show was produced by james sneed with help from irena hong and gilly moon and it was edited by keith romer. Alex goldmark is our supervising producer. Brian or stat is the show's editor special. Thanks today to the team at myriad. Genetics who spoke with us also huge. Thank you to show beat the parthasarathy and mary. Claire king if you want to hear more stories about science technology and public policy checkout showbiz podcast. The received wisdom podcast. I'm alexi horowitz. Gaza and i'm karen duffin. This is npr. Thanks for listening.
Remembering Tony Hsieh of Zappos
"Hey it's guy here over the past year a lot of the founders who come on the show have told me how hard it is to ask for money. They have to sell their product or idea is an amazing investment. Made it clear how they're going to use the money even impassioned pitch but still risk getting door after door slammed in their face and when people do give friends family angel investors. Vc's whomever our founders are overwhelmed with relief and gratitude. Well before the end of what has been pretty trying year for a lot of us. I would like to ask each of you to show your generosity in your appreciation for what we do by giving to your local. Npr station many of you. Listen to the show from your favorite podcast app. But how i built this is also a radio show that plays on. Npr stations around the us and those stations along with our sponsors directly support. The work we do so. If you love the show and the stories we tell giving you my best pitch so please be among the friends and family who give to our show. By giving to your local member station you can go to donate dot n. p. r. dot org slash built and give directly to a local npr station. That's donate dot n. P. r. dot org slash built. And thanks. everyone so as some of you may know over the break. We heard the sad news about the death of tony. Shay the co founder and longtime head of zappa's. When i interviewed tony three years ago on the show have to admit it was one of the hardest interviews. I've done at that point and not because tony was difficult or belligerent. Or evasive to the contrary he was kind and polite and genuinely sweet. The problem was that tony had such a hard time talking about his achievements and his incredible vision for how to run a business so modest so humble i literally had to beg him to brag a little but in the end we were able to pull out an incredible story from tony. And so many of you know tony. Shay a shoe salesman. Even though that's what zepos is known for tony was a customer service salesman. He rewrote the playbook had to treat customers and employees. Any inspired legions of founders. Ceos to come visit zepos to learn how to replicate his model. Tony shay was just forty six when he passed away this week and we wanted to honor him by rearing this episode. That i ran back in january of two thousand seventeen as zappa's was growing it was also losing money and we also need more money for inventory and so all this was happening at a bad time in terms of the dot com crash back in two thousand so is pretty much impossible to raise money from anyone. You could not get as investment no and and also even some wanted to invest in an internet company. The last thing they wanted to do was investment online shoe company. Because no one would ever buy shoes online from npr. It's how i built this show about. Innovators entrepreneurs idealists and the stories behind the movements they built. I'm garages and auntie show. How old school. Mail order catalogs inspired tony shay to build one of the world's biggest online shoe retailers. You know it as abbas and it's worth billions. You only have four pairs of shoes. Is that right. Yeah roughly maybe maybe fewer now out but what. What kind of shoes. You're wearing now right now. I'm wearing black. A and then. I have a pair of. I'm patch about shoes at all. I'm passionate customer service. Incoming calls closer. So i can talk forever about those two things. But i can't say anything about shoes. Okay so as you just heard one of the most successful shoe salesman in the world doesn't care about shoes and also he's really quiet. He's an introvert right definitely. So how do you cope with it if a huge company. Like when you've got talked. Lots of people inspire them. Like how do you find the energy to do that. And probably different from a lot of typical. Ceo's where i. I like to use the analogy of imagine a greenhouse where maybe at a typical company the ceo might be the strongest in tallest most charismatic plant that all the other plants strive to one day become. Yeah and for me. I really think i roll. As more about being the architect of the greenhouse and then the other plants inside will flourish and thrive on their own and so from a company perspective by try to surround myself with people that are just naturally more extroverted and probably a little a little bit weird too. Because i heard that when you apply to szabo's actually you're asked how weird you are. I believe so. Yes i think. Our application form evolves button. As far as i know that questions still there. Oh so on a scale of one to ten. How weird are you. I would say maybe in eight okay there. You have it tony shay. The guy who built this huge company with more than a thousand employees doesn't really like shoes. He's an eight on the weird scale and an introvert and yet people who study companies and company culture. Come from all over the world to zappa's to headquarters in las vegas to see how it operates because as many of you know at zappa's there are no typical bosses employs a lot of autonomy to make decisions but at the same time. There's an obsessive nece about customer service. In fact as you will hear zepos doesn't even think of itself as shoe company but basically as a company that sells good customer service and the story of how tony got their begins as these stories often do in childhood. My parents were your typical asian american parents. They're always making sure that. I was practicing pinot violin and other instruments and during the summer for example practice one hour one hour violin. And this is you know as a kid summer vacation. And so i would actually get up super early and i would actually just play back a recording of myself playing the piano or violin. Wait you would play a recording of you practicing the violent to give your parents impression that you were actually practicing the violin right so because they were sleeping but they could here so so. That was my way around. Like a ferris bueller move in strangely every week when i went to piano lessons or violin lessons i and so the teachers understand why so. Anyway tony eventually goes off to college. He graduates in the mid nineteen ninety s. And it's not like he goes right into starting zappa's at first. He goes to work for oracle as a low level programmer. Yup i wasn't there for very long. I think i was there for five months. And it's just straight out of college. And the actual work i was assigned to do was pretty boring in. This was right about when the internet or the world wide web and started. Because i remember it didn't even really exist. I don't think the summer before or at least two summers before and at the time these web design hosting. Abc's were popping up left and right in so sanjay mine. Kosrae made and i decided to do that on the side while we were both our day. Jobs were at oracle but during lunch breaks and night would go start selling in designing websites for different local small businesses. So you guys were like doing side hustle. Yeah and then. We had this idea of for at the time. Advertising on online was very very rare in renton today. If you go to any website you'll you'll see ads all over the place but back in the day if you went to website and it had an advertisement it was actually kind of a badge of honor because only the really big websites like yahoo wouldn't have advertising customers. Okay so wait so you guys were trying to build a like a web. Based ad sales company well originally. We didn't really actually intend to start as businesses more run. Those things were aboard in thinking. Okay let's try this and see what happens and so we literally just contacted one hundred random websites that we thought were interesting and like how would you even contact them. We would just email them back then. People would put their email addresses on the website. They something like yeah. On the it'd be like webmaster at alright dot com. What was your pitch when you email them. Basically that we're trying this thing out. And if you just put this little piece of code into your website banners will start showing up and exchange you. Send us your banner and it will make sure that it's showing up on other websites doing the same thing and that was that was it. We weren't really trying to pitch. I guess we just were doing this experiment you participant okay. So it's just so understand. You basically got like a a lot of small websites to join a kind of a network and then agree to run ads on their sites and and then you were like the middleman right. You sold those spaces on websites to see to companies. That wanted to advertise. Wow so this look incredibly. Good timing over two and a half years. We ended up growing the company which was called link exchange to about a hundred or so people and then ultimately ended up selling the company to microsoft in nineteen ninety eight for two hundred sixty five million. Okay first of all tony. This is not how this narrative is supposed to go. I mean you were so young and this is just three years after you graduate from college. So i mean totally overwhelming. That that that that happened so quickly will the whole thing definitely seem very surreal but at the same time what a lot of people don't know is the real reason why we ended up selling the company and the real reason was because the company culture had gone completely downhill and i'm myself dreaded getting out of bed in the morning to go to my own company which is kind of a weird feeling because when it was just five or ten of us and we were friends of his a lot of fun we were kind of your typical dot com. Start back we were sleeping under a desk. Had no idea what day of the week was working around the clock but it was really exciting and it was fun growing and started hearing more and more people we eventually ran out of either friends or friends of friends and so had to figure out how to do interviews and so on and not everyone we hired was good for culture and by the time we got two hundred people. It wasn't any one specific higher just death by a thousand or in gave a hundred paper cuts and that's really what led to the sale. So wait what do you dislike cashed out and moved on will in silicon valley usually. There's a four year what's known as a four year investing for your stocking. I'd only been there for two and a half years so really had to stay for another year. And a half after microsoft acquired us in order to get the full amount of what the deal was structured for. But i ended up. Actually just walk you away from that. Were i guess. I could have easily just sat around for for a year and a half but i was ready to move onto the next thing so just to be clear you you could have made much more money if you had stayed for like just another year and a half but you walked away because you were miserable. Yeah i think. I just started going down the path of trying to make sure that i'm being true to myself and doing things. Because it's what i wanna do versus. What is maybe a status symbol or what society expects me to do. I mean the one resource that we all ultimately have the same constraints on our time. So i didn't want to be wasting time. Okay so fair enough. You part ways with link exchange and then i read that you Like open an incubator like were you invested in other companies. Yeah it's called venture frogs and we raised about twenty seven million. I'd say roughly half of that was my money. And then the other half was from other early link. Exchange employees had money from the acquisition and for me. When i first got started in that my my thinking was this'll be lots of fun. We'll get exposure to lots of different founders in different internet. Come in but what i realize was that for me actually found that investing was pretty boring. Nfl like i was sitting on the sidelines. All the time. And i really miss being part of building. Something how did you headed zappa's even get on your radar like have that have almost actually didn't get on our radar because i remember getting a voicemail from the founders. Abbas knicks win myrna and. He said he had this idea for selling shoes online. And we were getting random pitches every day and so to me. It seemed like the poster child of bad internet ideas. Who's gonna actually try on shoes without seeing them in person and right before hitting the delete button on the phone Heathrow couple of facts that made us change our mind. One was that footwear at the time was a forty billion dollar a year industry in the us. And i'm not into shoes. Also that was news to me and then the other interesting fact was that at the time mail order catalogs paper catalogs that was actually the fastest growing segment of the footwear industry in the us and that represented five percent so two billion dollars a year and growing in. There's clear proof that people are willing to remotely try on shoes and so in our minds we thought okay the worldwide web. The internet is going to be much bigger than just paper order. Catalogues and so. That's what made us ultimately decide to invest okay so so when When the founder of zappa knicks swinburne Came to meet you guys for the first time what. What was your impression of him. He just seemed like a pretty casual guy. But we basically just said since. You don't have any footwear. Background will invest. If you can find a shoe guy turns out that there was a shoe. Guiding fred moseley. Who was working at nordstrom at the time. And he told nick join if you find an investor and so we all met in ultimately fred ended up joining the company and then working with fred. Ever since wow so. At what point did you realize you want to be more than just a passive investor that you wanted to be involved in the company There wasn't really any one moment. In time it was more we were also running an incubator at the time in saplings ended up moving in and all in the same building and so we just started being able to help them more and it just slowly just evolved but it was graduating. It wasn't like one day wasn't really helping next day was full time and this was like a time when people were still kind of freaked out about using credit cards online right so in in the first year of that company. Were you actually selling shoes. Yeah i mean so in order to test out the whole concept for real nick would actually just go down to the local shoe store. Take pictures of his shoes that were on the wall and then put it on the website and if someone bought something then go down to the local shoe store by the shoe and then ship and obviously not making money from each of those who is really a a really cheap an easy way to test the actual demand. So that's how you would get user gauge. What people are interested in or more importantly just whether they'd buy shoes online at all and then over time we'd learned what brands they were interested in and then eventually got to the point where we wanted to make money and so i mean you you must have been like burning through cash at this point. So how. how are you funding. I mean so. After the link exchange sale. I set some money. Aside for investing also bought a bunch of apartments or lofts that were in that same building in san francisco yet. This is right in san francisco and in basically as zappa's was growing it was also losing more money and we also need more money for inventory. And so i ended up one by one selling off the apartments in. It's kind of like when in monopoly when you you fight hotel houses and then you have to sell them lose money on the sale. Yeah that's basically what would happen. So how many permits you have to sell. All of them eventually How must have really believed this thing was gonna work yet. Well so all this was happening at a bad time in terms of the Dot com crash back in two thousand and so is pretty much impossible. Raise money from anyone and there was also nine eleven and War in basically used just a bad economic and especially you could not get an asset investment. No and also the huge companies like pets.com ecommerce. That were kind of imploding. At the time and so even if someone wanted to invest in internet company the last thing they wanted to do was ambassador online shoe company because no one would ever buy shoes when we come back in a moment. The secret sauce that helped zap does blow up and a hint. It had nothing to do with shoes and garage. And you're listening to how i built this from. Npr Hey everyone just a quick. Thanks to our sponsor. E-trade trading isn't for everyone but e-trade is whether it's saving for a rainy day or your retirement e-trade has you covered. 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You haven't heard about how some of the greatest entrepreneurs you know and respect started out at the very bottom. Check out how. I built this the book available wherever you buy your books. It's how i built this from npr. I'm garage so it's the early. Two thousands zappa's feeling economy isn't doing well and basically at this time. Tony shay is funding the company with his own money and he's doing that by selling off a bunch of apartments that he owns so fair to say. This was not a good time for the company. I mean every week or two. We had to make the choice between dewey make payroll or do we pay half of our vendors or debris sell another apartment. But you can't just sell an apartment overnight either. So did you actually have to lay people off in those early days. Yeah within the first couple of years just the reality of we really are out of cash and we're out of options and so had they off just to keep the company going so so how did you even begin to turn it around. I mean how did you get to a place where you were able to. Make a sustainable. I think for us. A big turning point was really deciding. We wanted to build our brand to be about the very best customer service in customer experience. That wasn't baked into the model from the beginning that they came later. Yes so in the beginning. We always wanted to offer good service but it wasn't until we decided we wanted to build our. That's what we actually wanted to brand the to be about. That's the most important thing it led us to do a lot of things that would not have made any sense. if that wasn't our north star and so Examples would be offering free shipping. Both ways 'cause that's see very expensive to to do and if we were just around trying to say maximize the profit margins than we've never would have gone down that path and yes we would have made more money in the short term during those days but then we wouldn't have built our brand in reputation and and so on and so. I think you know when when you actually want your brand stand for something or to have some sort of purpose in in our case it's about to be about the very best customer service and customer experience. You do things that are kind of nonsensical in some ways that your competition would never do. Yes so i mean there was a point where you really just define yourself like this is. This is what sets our company apart yet. And there's actually a phrase that I think one of the employees in our call center actually came up with started describing says where service company that just happens to sell shoes and so for us. That's what we're hoping. Ten twenty years around people won't even realize we started selling shoes online and can imagine there could be zappa's airlines zappa's hotel. That is really just about the very best customer service and customer. Experience apples Cable tv. that'd be great. I need that. We are open to anything where service can be a differentiator locations. Zappa's becomes a huge deal. And then like at your peak in two thousand nine You sell to amazon. Why so amazon had actually approached us several years before two thousand nine a just wanted to acquire a san and then basically the being acquired ends of joining the mothership and And kind of lose its original identity and so we said no very quickly and they actually in the years between then in two thousand nine. They launched a competitor called endless and it was basically launched from our perspective to compete with us and ultimately if they weren't gonna be able to quals than they wanted to essentially compete on and win right and so they try that for a while but we continue to grow and so i think after several years of them. I'm assuming i don't know the details. Losing lots of money trying to gain market share through endless. They approached us again and said okay. We will let you guys be your own separate subsidiary with your own separate culture and own way of doing business and happy report. Seven years later they remained totally true to their word. And we've been able to continue doing our own thing and our cultures very different and distinct from amazon and so from our point of view it was really just as if we swapped prior board of directors with a new one. Why do you think that. I mean if at times that was like a week away from going under and and there was this a lifeline that came through every time with a you sold an apartment or some money came in. Why do you think it it. It made it. do you think it was. It was lack or do you think you guys just really good at what you were doing. I'd say it's probably mostly luck. What's interesting is jim collins's Trend remember the name of his latest book. Great by choice. I think and he actually has this acronym rl return on look and he looked at whether companies how much of a role did play in companies. That did well and companies that didn't do well and in his research and analysis. He actually found that could come back and they they all have lucky and unlucky events that happen to them except when it happened to good companies they would double down on whatever that event was in Get the most out of that and then when things happen to good companies the good companies were prepared to deal with or more prepared than the not so good companies to deal with that bad luck but the amount of good luck or bad luck happens to all companies in all people to remember when we were kids that show lie south the rich and famous and like you became a very rich and famous person right so so did it change the way you live your life. I mean right. now. I live in an airstream which the like a trailer like higher fifty square feet type of thing. Yeah we've got dogs running around kids running around actually have to how packers running around so And i just love it because there's just so many random Amazing things that happen around the campfire. Now you just go outside. And i actually think of it as the world's largest living room and i guess for me i've always like i'm willing to pay for experiences but not really for things down just because experiences. I think i realized while ago are what. Make me happy. And it's funny because was literally this morning Having coffee with a friend of mine in airstream in we were talking about. I think it was a quiz or something where the question was if you if your house was on fire and you could only save one thing for me house. What would it be. And how that would be a really good way of getting to know someone. And i was just looking around my airstream and my my phone maybe and some asked me what my definition of in i would say for me. It's getting to the point where you're truly okay with losing everything you have. That's twenty shea. The co founder. and long time head. Xaba's he died this past week h. forty-six by the way tony had an interesting way of dealing with his introversion. He forced himself to do one uncomfortable thing every single day and on the day i interviewed him three years ago he died his hair right red and spiked it up into a mohawk just because it made them uncomfortable.
The Mixtape Drama
"This message comes from. npr sponsor. Ibm a smarter. Hybrid cloud approach with ibm helps banks personalized experiences with watson. Ai while helping keep data secure the world is going hybrid with ibm visit ibm dot com slash hybrid cloud. Hey it is fundraising season and the easiest way to support. Our show is to go to donate dot. Npr dot org slash planet money and donate to your local npr station that is donate dot npr dot org slash planet money. Thanks so much this planet money from npr warning before we begin. This is a planet. Money adaptation of louder than right and this episode is explicit in every way. It was a chilly. January day in two thousand seven day drama was in his atlanta studio with his affiliates working on his next big project. That's one drama steps outside to move his car by walked out the door and then dow's when just like swat and helicopters and you know here come the suv's and they just like pull from all corners. A drama plays a coup. Because he knows whatever it is. He's not the target. I'm not doing nothing in unim- fucking tj drama. Like one radio making mix tapes. And i will get to the bottom of this. I'm thinking you but then things escalate as they pull up jump. Our teens like drawn right at me. And i'm bike. I've never had a automatic weapon pointed at me. The four officers call drama by his government. Name tyree simmons. They tell them to get on the ground and they take his id. Then they get on their radios. Hear him when the other end san we got one at a purpose saw star. Emma my freaking out like Like who y'all got one of them. Wait got gotta be a mistake. It's clear that these officers are looking for a lot more than mix dave's especially from the way they're barking. Tell us what it gonna drug czar elsewhere. They are like going through the roof of the building and just looking for all types of shit. I just tell us where they are so we don't have to look more his crime the in a mix tape. Dj who got so influential threatened the whole power structure of the music industry. Hello and welcome to planet money. James sneed the producers here at planet money. It's a pleasure to welcome to my. Npr colleagues said madden. Hey and rodney carmichael. Who spent the last couple years we're gonna show about. Whoa describe it. It's about the intersection of hip. Hop and mass incarceration and how the criminals nepad is really a microcosm to the criminals. Each of black and brown folks in america and how the music industry to be complicit criminal laws are so today shows from your series louder than it tells you. Incredible story of dj drummond a kid from philly who grew up to be the mix tape king now i was living in atlanta. Not too long after this all went down and there's a lot to the story. I had no idea about like mix tapes are. they're literally the origin of hip hop distribution. Yeah mix tapes launch the careers of so many rappers. Go all the way back to the cold crush broke. It is an jay z. Best mix tapes meek mill. That's mixed tapes too and this whole cultural phenomenon. Dj drama make it a global movement until one day at all just kind of came to a halt taking mix tapes from a cultural innovation to a criminal conspiracy and dj drama. Who's at the center of it. All impede a pretty high praise this message comes from. Npr sponsor microsoft teams. Now there are more ways to be a team with microsoft teams. Bring everyone together in one space with a new virtual room. Collaborate live drawing sharing and building ideas with everyone on the same page. And make sure more of your team is seen and heard with to forty nine people on screen at once. Learn more about the newest teams features at microsoft dot com slash teams. What's it take to start something from nothing. And what does it take to actually build it. I'm guy is every week on how i built this speak with founders behind some of the most inspiring companies in the world. Npr's how i built this. Listen now my name is tara. Simmons also known as dj drama. Also known as mr thanksgiving also known as barack drama Drom crews monikers when people used to listen to me. i'll make staves it'd be. They only missed. It thanksgiving dj. So you can kind of go. How we can go regula voice. Would it no matter what alias. Joe's at one point in time in the early two thousands dj dramas voice. It might have been the most recognizable voice in hip-hop but drama story starts back in one thousand nine hundred ninety six. He's already dropped. his own. May stay called ill featuring philly artists. He's cool with my black thought of the roots and he's made his way down to atlanta to attend the historically black clark atlanta university as a freshman college drama was still unknown but one thing he did was out hustle that is yellow boombox up on a campus trash can and is mix tapes homemade for the lolo to for seven dollars. Three fifteen not a good week. He might have made about one hundred fifty house but even then yet this mystery sauce that separated from the pack is marketing. I was like a man show. Dj drama tapes. And who's that. And i don't know he just told me to set up shop. I've worked forum guy. But i stay here and you know i like that was my hustle but the mix tape. Cj dramas hustled on the afc promenade. They weren't necessarily like the ones you dubbing for your friends. At the radio early mix. Tapes were recorded apart. James in new york city parks. Obviously the bronx. Where is where started. That's dj mars. He's a famous atlanta. Dj and he self published the definitive deep dive on mix. Tapes called the art behind the tape in the beginning. The only way to hear hip hop was at the party or to hear it recorded on a mix tape mix tapes where the genesis of hip hop distribution. Part jams came the emcee battles got recorded and circulated on cassette and came the era of the dj's creating mix tapes at the crib. That sounded just like you went for quite you. Don't pay over skip another few years and then there's dj clue back again. The he started doing something new featuring rappers on exclusive songs that you couldn't find anywhere else he would have artists come through the house and make them song specifically for him. The only place you've got. That song was on a clue tapes. We kind of changed it because before you were buying a tape. Because of away a dj was rocking now you by his because of the exclusive music that he has catered strictly for him. Mix tapes like this. Define the culture. It's what drama grub listening to and it inspired him to make his own mark. The beauty of what a mix tape was is. You didn't have to cross your eyes in dr t so you didn't have to worry about clearances and splits and you know with the royalties. Were going to be in payouts and it the wild wild west. That's what concept jackrabbits comes from like. Give me a beat fool. Jack obese beats. Ain't just a hip up. I mean how many early blues standards were borrowed and reinterpreted over time when it be jazz without players caught each other's rips the middle of set. It's a natural element of hip hop. Because it's a natural element of black music always has been. Here's the thing mix tapes like sampling us copyrighted material without permission. That's technically illegal. Copyright law goes back to seventeen ninety when it was created to give artists financial incentive to create. But it's evolved over the years to be more more restrictive and now it's stifles hip hop producers who rely on sampling and remember when drama started making mix tapes. There was no spotify apple music. I mean this was still the era of physical mix tapes doug straight to cassette distribution was hand to hand really promotion was word of mouth. I mean either. You knew where to go or you didn't. This was strictly underground economy. There was a code of silence among those who were in it. You didn't talk about like selling mix tapes. There was definitely that. Whoa whoa. we don't know we don't sell mix tapes. He's a free. You know for promotional use only for promotional use. Only but sometimes you find stem right on the cover of the mixed. Yeah basically most mix tapes. Era were unlicensed compilations of previously released music. That means there was no way to collect the royalties to artists or their labels from mix tapes sales leading us live for the most part until nineteen ninety-five. That's when the recording industry association of america the aa is called to notice believe is basically an industry trade created to protect and serve the major. Now the aa does a lot of things like certifying. Gold and platinum plaques artists like to show off but they also work with local and federal police departments to enforce copyright laws. But for whatever reason in ninety five enforcement was spotty at best. You didn't have to search hard for mixed tapes. There were sold in street. Kiosks flea markets. Small independent record stores. He just had to know where to look. But it wouldn't be long before bootleggers around. The country started selling dramas mix tapes. And he'd be too big for the industry to ignore s after the break this message comes from. 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That's on the ted radio hour from npr. By two thousand djaama's graduated from college he decides he's going to launch a southern mix tape series just in time for birthday bash. That's the big annual summer concert hosted by the atlanta hip hop radio station. One zero seven point nine coins. The new series gangsta grills. The name is loud and medicine. Just like the shiny go grills down south rappers like the flash for the camera and does like the king cronk yay mother fucking nigger wanted. A mother fucking. Crock comes does jobs for me. I guess this is where you guys can put the legendary games to grow. Drop in right here. I don't want to have to do it. I want the people here. Still great zeal. we'll give yeah gangsta. Grills was like sonic wall people in atlanta back then as dramas lunch and gangs degrees. He gets a call from a local hustler who manages nope uncommon artists and he called me. Says i got this. You know new artists We signed to the face. His name is ti. And you know. Can i bring them through the door freestyle for you on my gash or i'd never gotten a phone call ever the first time anyone's ever called me off of one of my mix tapes to do something for me so they come to the crib and does young kid by you know intense southern drawl site in my little apartment in this little room where i make my mix tapes telling me he's the king south and i remember him leaving and me telling the sensi crazy. Like city was canada-south eight light. True right now you bow now. Ti wasn't exactly the king of the south shit but through their early collaborations drama would help him earn that title and drama. He would become a kingmaker with the style all his own table streets. I kinda wanted to just do it. A little different. Like i just wanted to give it a sense of a narrative not just regular shot like really like listening to the music. Going along with the music was about. You know what i'm saying so you know really become a real host in a sense. I think he's ready to do this. Gangsta gross born. Let's do it. Do get get stuck great deal so the process is kind of like you. Collect the body beats like other peoples instrumentals. That are like big songs out. At the time i'm giving. Ti's script up to read to create drops to almost give the tape a narrative. Staw- i hold up man. Let me catch this man no time. So he's doing freestyles. We're putting records. That aren't out head. Any given moment known group of nine tight would be flowing type. Which look i'm sprinkle in my lives. And my sense of my. That's what janet canine rate setup. So you know you layer with the music then you put the hosting like the dj aspect of it on there. And then you add the drops. The bells and whistles and you have dislike mixed tape. Pse with on. Pj to say stan at king saverin. He was just in his little apartment making mix tapes. And this just shows you how raw and immediate the mix tape game is no need for lawyers drawn out label meetings book and expensive studio time woman it. You're on the phone. The next year land tracts and at the same time dramas finding his voice a new sub genres emerging in atlanta one that would become known as trap music a name inspired by the crack houses and traps. Drugs are bought and sold around this time. Drama stars working with a dope. Boy turn rapper. Who goes by the name. Young for their big breakthrough. Gangsta grills mixed trapper dot. Nearly all the music is original. I mean he was basically jesus debut album before his debut my kitchen from her real eight grill from been there this kid from philly. He was changing the cores of hip hop bye representing the bottom. Not just the bottom of the map but those perceived be at the bottom of society. I didn't envision any kinda like it just happened like thrusted into this into this spot. Where i'm like. I'm the voice of the streets lights. God gave us stay. Quotas noah mixed tapes were on the rise. Reconciles were taking a steep. Nosedive is two thousand. Five the industry's deathbed. Major label releases a basically being cannibalized by bootlegging online streaming is still a pipe dream for the most part and piracy sites like napster being cast as the villain and the industry is so desperate that the i aa is filing lawsuits against random fans but legal downloading as a scare tactic. But while that's happening mix tapes are becoming more popular than ever and drama. He's selling more than ever rank hills. Shrimp setup here makes a game. It had its risks but it also had its rewards drama. Didn't nafta license any of the music he didn't have to pay rappers and across probably fifty cents to print a cd and he would sell it for five to ten dollars. Did you have a sense of how many types you will move in like a month. Joyce grew there was some months when we probably the easily like it could have been like fifty thousand seventy five thousand something like that. And that's not account for the bootleg cowan further legs. You remember watching. His bank account grew into hundreds of thousands of dollars so even though the labels are losing money they were benefiting from the mix tape game too because it meant free promo for their artists before their official products. Dropped like take low wing. we z. Was already a veteran. The game when he decides to reinvent himself with the gangsta girls dedication series starting at five. This ray is dedication to d- to drum dramatic affiliates. man appreciate. Everything does me wayne's already as far by this time but mixed tape wayne. He was beezer that series. How do we baby nicholas. pitching in. The mcadoo listened closer. Got dumped you. Miss like the puckett and all that makes say buzz. It boosted his major label bottom line. His next major label release. Look hard at three ended up becoming wayne's biggest selling solo album twenty twenty six times platinum mix tapes. Yeah in drama career. It got a huge boost to in two thousand five. The atlantic subsidiary grand hustle. Ti's label signed drama to recording deal to create a legit gangsta. Grills album record labels loved me. They were calling me all the time to work with their artists. I started getting ten thousand fifteen twenty twenty five thousand dollars from labels to get to with their artists because it was it was a way for them to now. Break their artists per se. So yeah my relationships were were a one all across the board with all labels against grills popularity and it was starting to present some problems. Dj drama made a deal about this time with an independent distributor and they started selling mix tapes in a major retail chain. Next thing you know drama says they were airing gangsta grills commercials on the et. That's when he started to get a little a bar codes on them can't put that in best buy been barco. That should not you know. Like i didn't even realize that what we were doing. Was that big that that was possible. By this point. John lewis selling mix tapes of southern rappers on his gangsta grills website which also had starved like madonna. Michael jackson remix on it. So it's one thing to be a kid's mix tapes on your college campus. But it's something else entirely to tens of thousands of dollars a week and cds all around the world and not paying a penny in royalties to the song writers or labels. You're trying to profit off of getting the pushback wasn't just coming from the ara. Aa success of gangsta rules. It was breathing contempt even among artists. Who really benefited from the series. But who also weren't getting paid from the mix tapes directly like the wild and all that heat from the are aa what led to that day in two thousand seven swat team shoulder and drama studio. Tell us what had guns drug. Czar tell us where they are like thank god. It wasn't a weapon or spliff in the building. But what they do find is mix tapes cds tens of thousands of them. They confiscate the mix tapes along with studio commitment computers. Four cars bank statements even the hard drives containing songs recorded for dramas upcoming studio album. Then they take drama and gangsta girls affiliate cannon the stand me up when i'm outside and take out the paper and his entire simmons under the rico law. You're being arrested for bootlegging racketeering rico racketeer influenced and corrupt organizations. These are a series conspiracy. Charges us to take down dangerous sc organized crime outfits like the mob drama. Didn't even know what rico stands for at the time. County swat team and officers from clinton county rated. Dj drama's gangsta grills recording studio last night and local footage on eleven o'clock news at night. Drama and cannon addressed in blues with their hands cuffed courtroom dramas trademark fitted cap his missing. It's like he lost his crown. This is my first time ever being locked up. I'm in a sale people's diane yell drama and cannon array here so we go to court as soon as we get in there and they tell us no bon no bail. Now i'm thinking like i'm not gonna see the sunlight again. Like what the fuck did i do. I've made i was making mix tapes like You know how did this ever happen. This is when finds out his arrest by local authorities was made in conjunction with our i. Aa the same trade organization who seals appear on all those gold and platinum plaques hanging in his office for drama. This is deeper than a personal betrayal. A betrayal hip hop the labels wouldn't know what was coming next if it wasn't for mixed tapes. It's the veins of the culture. Everything in hip hop from ninety five to two thousand seven. It happened all that shit. Everything came from mix tapes. Biggie even the blend style from ron g would be vocals over hip hop beats. That's mixed tape shit. That became a style of music. That the labels got rich off like fifty cent s mixed tape. Jay z include. Us mixed tape little wayne. That's mix tapes junk jisi. That's mixed tapes bro. Like it's all from mix tapes. Gas grills is the biggest thing arguably ever in the mix tape history. That's hip hop. I know sweat. Y'all make off Don't sit here and tell me that what we're doing is wrong. Fuck that so. Why then labels go after drama. Will we try to ask our i aa that. And despite several attempts they wouldn't talk to us on the record. But carlos the narrows who was vice president of anti-piracy yet or her aa when trump got arrested. He said this at the time to mtv news. There is no. Are i a policy geared towards going out and enforcing against mix tapes. We do however have an ongoing policy to help identify illicit music product and to bring it to the attention of law enforcement. Drama wakes up in a sale that morning he finds out in canon able to make bail after all for one hundred thousand dollars a piece and that's when they find out how serious those rico charges. They've been slapped with really are some went to online banking am. I should say zero point zero zero. And i just froze bank account full of hundreds of thousands of dollars reduced to nothing in that moment. Drama says he broke down and cried drawing cannon. They would charge with the georgia state law. That made it illegal to sell. Cd's without putting your name and address own. Essentially it was a way for the state to enforce federal copyright law and they hit him with a rico charge on top of that for mass distributing the cds after the arrest charges against drama and cannon were dead. It'd which means they would not be prosecuted but the chargers could be reinstated at anytime and drama says the. Dj's were never given back all that money that was seized. There's a real irony was happening to him because he done all this for the culture of hip hop which the industry benefits from and then the industry turned on him this it and you know like so many black courtroom innovations before the industry criminalized mix then they cooperated today. Playlist spot of is wrap. Caviar served to fill. Some void makes h. Left with the may be missing is the curator weeded all together. The mix tape each. I mean of course mix tapes still exist in name and some of them do record-setting numbers even get grandmoms but the era the mix tape. Dj discovering new artists and shaping. The culture is over. Dj mars said the mix tape game came to a dead halt distribution kana die. You see this these two dues get locked up on tv. Nobody wants that like nobody was so it. Just it just dried up completely totally. I felt some guilt because my iota should the mix tape. I can't at the mix tape game. Dial my shoulders like here's this culture. I grew up loving. Then i go to jail for. They can lock up drama. Nobody's safe. we shit's done. It's over to wrap year but drama wasn't completely left out in the cold because after all that drama the raid the arrests the damage hard drives and emptied our bank accounts. Dj drama had something beyond street cred and same industry. That locked him up. He wanted him back in see now. The drummer had a criminal record. Thanks to the music industry. His label atlantic was more hype than ever to drop his debut record. Mob record label was super excited. Oh my god you can't pay for this type of publicity. We're putting your album. Asep move the release date up like you're the biggest thing in hip hop right now and guess what it first single was called tickets foods taking pictures and that might sound like paranoia overdrive because of the rest of the world is just entertainment but for hip hop. It was real life if you enjoyed this episode wanna support journalism late. This support your local. Npr member station. You can do that by going to donate the npr dot org slash planet. That's donate npr dot org slash plan. Money big things to the whole hours right crew put together. The original editors michael may ticket paschal producers destined to soda matt osa. Sam leads josh. Newell engineer and senior supervising producers. Richard neal najer original music by casa with additional scoring from ron teen are blue shadow to jacob gans digital editor. And we'll chase our fact checker. Y'all too louder than a riot in the follow along with the music that you heard in this episode could check out the louder than a riot apple music spotify this up so was produced by james need. Hey that's me for engineering. Help from galle. Jacob goldstein was just episodes editor. Alex goldmark is planning rising and bryant stat. Planet money's editor. If you want more bass heavy shows check the whole louder than writing series wherever you get your podcast. They just had their season finale. 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"Let's see i got him in. Should be good to go. So i gotta ask you because the practice is behind the wheel. Are you always behind the wheel lessons in baltimore in the inner city. I was present when the freddie gray. Brian occurred actually earth city in america. Sue come up with a essentially legal way too. Thin african americans property ownership within white residential areas mission is to sided marketplace very introduced artisanal merging a browns mainly snack grounds to consumers at key moments. Where there must and this is behind the wheel so dedicated to highlighting accomplishments of ordinary people. Who are doing extraordinary things to checkers. Can we've you find the good morning. Welcome back to north dakota the wheel on your host derek. Oxley in today's episode is brought to you by the folks at the creative running collection and eclectic ensemble of autism. All walks of life and disciplines. I mean we're talking established to wanna be writers. Actors directors artists bloggers bloggers videographers podcast journalists producers and editors who are passionate about trine content for running an entertainment purposes still but more importantly they inspire people to pursue a healthy lifestyle by helping them identify the purpose maximize the potential accelerate the growth and continuing the cycle. Other words. they help people. I'm back their life. So if you've got some hidden talent and you're looking for safe place to express onen display your talent. Shoot them in email at the behind the wheel morning. Show djamil dot com. If you're an entrepreneur. Small business owner or over an entrepreneur. Small business on looking to advertise in the behind the room podcast but were uncertain as to whether or not there was a possibility we have eliminated all the guesswork. It's certainly is a reality. Who's we you talking about. I'm not going to go with we. We now have begun with we. I think we're gonna go with me as we now have the ability for you to sponsor an. How cool is that. Your ad can run pre mid or pulse role simply visit coffee dot com forward slash btw. Podcasts the details will be in the show. Lo que o hyphen f. I dot com forward slash. Btw podcasts and one of the cool things about coffee dot com allows supporters of the show to buy me. A cup of coffee hoffy. So shutouts Toya sean tait. Sold inspired kimberly hall and kim isaiah hyped. Good morning welcome back together for soda behind the wheel on your host derek. Oxley and today we have an amazing guest. I've been following this woman online. Even though i'm probably not deter target audience but i enjoy the material is that good. I just translate it. Like i do when i would listen to lauren hill soul. You know if she's talking about the guy. I just substitute a female. Just for whatever your preferences. I don't really care well. Welcome to show helped me join in welcoming to the shoal ianna angel. Run out on the go. Yes you argue are a star. You know you're still you play like yours. This one to find out about her. And i've been tracking tune in. And i'd say you know the whole production around women like you know. I've tap into my feminine side. When i log in but a i said i'm not the ideal marker but i yeah that's okay. You're not the only one. You're not the only man out there who listens to who has taught me. I know match your targeted audience. But at the same time i'm listening just so you know and i appreciate it. Do you have do have a. Is there a designated name for those men like myself. Who tune into your episode. You got a former group for us man. No but i mean that's a bad idea but the funny thing is there's no designated name for the women that listen either so you know. Maybe i'm just not one of those people i fly. We all individuals. I pride myself on being the individual so we all individuals we might mean collectively in this thing called life. trying to figure out this journey for ourselves individually. But you know we don't have to be clumped together so for those of you out there the audience. That may not be familiar with you to tell me about yourself. How you got started on this bag -nificant role that you are now travelling sure Sell as their example. Is yana angel. I m a podcast hosts a podcast producer in offer and I just try to put goodness out there. To this world that i think will be beneficial for other people Ah part of the reason that i do that is because when i started out on my jerk me even before like anybody knew my name if you will in terms of putting myself out there publicly. I'll just trying to figure out like what was going to make me happy. And i realized that. I was just checking boxes in terms of doing things that other people expected of me in terms of trying to find success in so i realized at a certain point that down wasn't making me happy so i decided to figure out what was going to make me. Happy took all kinds of classes in just self exploration and everything just on his journey to sort of understand myself better and understand how wanted to show up in this world Eventually brought me to writing a book. i was working in sports entertainment. Pr for the national basketball association. And during that time the end of my time there was there for about six years during the indian. My time there. I wrote this up in the night ended up leaving that job and getting the book traditionally published in the from what i thought was going to be. A writing. career turned into a career. That was more so about putting in producing content for this world that will be beneficial for people who are trying to figure out what their next step was gonna be so eventually created switch payment or quit wide gas and an amazing media came at that. And so here we are. You know you just hear is like oh okay. It's just that seeing this. You know you go to the site. And i'm and. I'm like no checker furniture. So this is so i. It's captive like she really has stalin in fashion is yes it looks nice. I had to take the glasses off. I was looking at it. Was like oh man this is. This is really this is. You're not playing small off. According to segue. But i'm going to insert it. You probably leave it in there. Maybe we'll insert some drum rolls. But the the. I mean just being listened to you talk about how you you didn't have your voice or you weren't sure what your voice was When you were in the you said the official name you gave you gave them. Their official government named the national basketball association. Absolutely because when you say it's sometimes especially if you say it fast it can sound like mba like maybe i was in an mba program or something like that it can just run together so it's just like just call it what it is solely salon to clarify for any play sports at one point. You not really always been. I guess you could say quasi active. But i wasn't an athlete now. I didn't ask you at the beginning. So we gotta know now. Because they're curious they're going they're gonna wanna know like is she a deity lady or is she a five bucks lady. She's a neither lady drink coffee. I don't drink coffee. I don't drink tea. But if i do drink tea i drink honey ginger. Lemon tea And i don't even know if it's really classified as a team because it tastes nothing like t and that's why i drink it but it's merger who makes it. This might sound a little rate of me. A somebody in asian community because the got some maybe chinese japanese. I'm not familiar with the writing. I don't know what kind of writing a pack. Just don't Fax is i go to the asian market where they sell the fruits and veggies. They have all kinds of tea in a you know is i think it's truly a thing because from brands in all of that. I just haven't always been here to the game so hopefully i'm able to put somebody else on gay. Who didn't know about who may want to drink in partaking something but to your coffee. So yeah i assume you started venture out into your cooking now before we get to the cooking though. I wanna find out so your publicist. You were a publicist for the nba. And then you said. I'm going to make this. I'm going to write this book. And i'm going to get into podcasting and i don't just wanna have my own show. What led to the transition to say. I want to have a production company and help other people amplify their voice it really. I was really organic sword of growth to that place. Because when i first started podcasting i quickly realized that the space was heavily white male dominated in with that being a fact i said okay. Where are the people who sort of lied. Look like me more. Have a similar Voice within this space of podcasting and not similar is in the exact same as me but just like wearing a black people. You know Where are we in this space. And so some of the first things i did was i thing that created a directory. And it just had all these podcasts on it By black people significantly black women and then that that was people love that people really it was really well received and then from there i just kinda kept talking about what could be next. What else could i do to offer. My. my i guess because talent to the space and my perspective and in just my ability to kind of like you know amplify voices in. So that's when i kinda came up with maisy media but are truly sat on the idea about mazing media for awhile before i actually took some action because i had to be sure that it was something that i wanted to do and i still didn't even know exactly what i wanted to look like. I've just had an idea. And i i do think that that's the beauty of having to get started because once you get started or pushing yourself to get started rather because once you get started you can kind of see how your vision will start to unfold more in different ways that made you even expected. And that's exactly what's happening with amazing and having other podcasts on making medias platform and then being able to produce podcasts on the same as well it's more. It's how me the kind of see where i can take it. That is incredible. I i was. I was a senior center manager for fedex man. They used to send us training cds. And you'd have to use the cd's to obviously train the employees. Why don't you just do a podcast would seem like it would make more sense. Well we relied on dvd sending these dvd's two to two and then like you don't wanna do. The podcasting idea of podcasting was on online since two thousand seven. But it just didn't have an outlet of have an idea of where you were going to be able to take it and then to hear you saying that you're now offering this to corporations. Are you finding that they're more receptive to this now Yeah i think there's it's a mix right because to the average person. They're still becoming more familiar with podcasts. Right so the population. That could be listening to podcasts. That may say listens to radio or watch his life digital streaming services. We're not quite clear in podcast industry where everybody has adapted listening to podcasts. What there are people who are more familiar than others and what you'll find. Inappropriate spaces is that people will be familiar as a listener but it feels and sounds intimidating to get into producing that type of content for their company. But there's an interest there so there's also this sort of like education piece and sometimes there's a heggie a hesitation is sometimes there's also a Just a longer process that you have to go through to get people acclimated to the idea of kind of make them comfortable enough to wear their say they're like okay. Let's go ahead with. Its within you on the other hand you have a small number of people who are i. I see this. I like this. I wanna to be ahead of the curve especially in my industry left and they just pulled the trigger You know so. It's a mix. But i think it's understanding that we're not where we could be as as a whole society where people are adapting to podcasts. That doesn't partially make the difference. You know definitely busy at the beginning of trailer snack nation. They have a One of the one of the markers her voices of the beginning of the trailer and they have a podcast. I was like oh. This is like so cool. I think that's part of the reason. I included them in the trail of because just the whole idea of their company. They have these little snacks that they offer to corporations. And they've got this podcast marquess the more people that are doing it more that corporations or a about it then yeah the the the medium will survive absolutely at continue to grow up here. There's one of your what are your sponsors and call a harris's name was mentioned. I don't know if that's the same joke with my sister. She was remember here. My sister was at a function and she was one of the speakers. Sa- black woman. She was long speakers at dysfunctional. My call a harrison name. Sounds so familiar to carla harris. She she was one of the responses mentioned her name. Who's who's doing the talking. I'm one of these voices. Mentions call harrison name like yo call harris. I didn't get a chance to google it. But i'm like you. I think that's hurt because it's very few women in that space financing in this yet. So she was pretty dynamic. Wow awesome so you have have ventured into the kitchen. And it doesn't look like you know what to do you. Your constant i'm like this is this is your. I can't cook so i know. So i could tell stills the opportunity this everybody who has had my food they say otherwise. I said it looks like you don't know what you say. I didn't say your food doesn't taste. Good that's where they that's where they say looks can be deceiving right. I'm sitting there. And i'm like oh she's got his cooking stove or whatever you hungry. You want a snack. This is your doors incomes. Like so excited. And i'm trying to type. I sent you a message and my my ipad is. It's all on the keyboard So open up g it's landscapes. I can't see the screen. I'm sending some jack-up message on my coma. Callous idiot but hey it's okay. I think she got like. I don't know what this is supposed to mean. So i guess. I'm supposed to translate it so to what started you down that path of incorporating the it lives of cooking I think just cove it muniz space in you know. Everybody is isolated hidden. You really have no choice but to get a little familiar with the kitchen. I'm i'm a person who i wasn't. I didn't pride myself on cooking. You know. I wasn't cooking like three meals a day or anything like that. It should is not that. I didn't know how is just. I was doing other stuff to insult. This as i was really hesitant to order food in the beginning Especially because you just didn't know aside okay or fool is in. What if you got it in it. You mean you prepare my food. So i just started cooking a lot more and i think having the time to cook because you can't really make excuse because you have nowhere to be you know what i mean. Maybe you have meetings or things like that. But you don't have anywhere physically that you you'd be so i just started experimenting more and just being Interested in eating good. You know while. I'm a- whether it a good not healthy because sometimes it's healthy sometimes as good as those like. Well what do. I have a taste for okay. What can i try and recreate that. Maybe i've had out at a restaurant in of thing. So i think it's just me wanting to not Wanted to mix it up during this time would also not wanting to order in all the time either in also just kind of pushed some Some of my limits. If you will in terms of what. I thought i could do in the kitchen you know. Let me try this try that. So now what. I realize that. I've developed a deeper. I guess you could take connection with cooking in that. I don't. I don't need a recipe. Or i can decide to try something in in. It actually turns out good because you just once you start playing around in the kitchen really start understanding out working What's gonna make sense. And what will work versus. What won't work you know. Sell fun for me. I would definitely say it's been fun and it's it's kept me kind of like In this space of not being able to go anywhere not really being able to do much is kept some excitement in his kept me from being kind of having those down what was me type of moments. It's just like you know you gotta have some things to look forward to a right. Now is camille. That i'll create you know and it's just not gonna listen to this you cooking you like you're a storyteller so you is these stories in his really down to earth and you mentioned You mentioned. I think it was cathy. Heller and so. I go to her page as she had she had went. Live right after you or a couple of hours later. Whatever and voice is so soothing. I can't. I can't after this just like the the introduction. This is the time of day. whatever. And i'm like okay. I got stuff to i. Can't i can't tune it right now because i'm a fall asleep. She's got it's like yoga. You know downward dog and the music is knows. It's relaxing the ocean. Sang's of the background. I couldn't do it right then. But scrolling through her fi like oh you she really has some some interest in so during the interviews. You can see okay. she's be. This was just this live. And i'm finding that i'm i'm if i was resistant to the idea that it's not my ideal demographic and you could miss out on some of the good stuff that that that's out there. I think everything is not for for every one and so for people who might be interested in finding out more about you or finding out more about themselves. You have this this one hour special. it's not on netflix. stages have come directly to you to To pick up the phone to to find out you know to to gain access to the salon to tell them a little bit about that and how they can sign up to have an hour with you. Oh sure the pick my brain sessions. Yes so the pay my ray sessions. I started doing those. Because i've i've always been the person amongst my group of people if you will in people you know closely connected to me as well as you know sometimes a little further away Where people think. Like i have answers and a lot of time on my okay. Maybe i don't but i can figure it out for you Guide you or put you in the right direction. So as i continue Just really making the switch pivot or quick conversation available via podcasts. At everything i will get a lot of people that were inquire about things especially about hot. Do some of the things that i did in my career how to make certain moves or sometimes people just want somebody who's objective that they can bounce ideas off of or talking with or somebody who's been there done with. They're trying to do so. I decided to create a pick my brains that she's because you know people will hit you up all the time. It's they cannot kick your brain eventually were. You're somebody who's out there if you will. It gets to be exhausting. it's too much in cannot accommodate. Everybody just set it up in a way that is like a minimal financial commitment for them. But it's a way to say. I appreciate your time and respect your knowledge base in us learn throughout these years that you can share with me and then it's also a way for people not to waste your time so they get on your calendar for pick my brain session and they have to pay for it. They're going to be there. I think i've only had one person not show up you know so. It's like a period. Have you been doing this now. Offering them for a few years now. Actually yeah. yeah think probably about maybe three years or something like that date again. so that's a good rating. I mean one out of three years. That's canceled you've got you've got better stats than pinson. Jim in funny enough. They didn't even canceled. They just they just didn't show up and then needed to in the wanted to reschedule. Whatever and i don't even do reschedules like but if you let me know in advance the can reschedule it. What is this. i'm a action person. And i'm a person that takes my career in professionalism seriously slack spectrum people work coming must face be the same thing so no. You can't reschedule a ton of times. What if you're serious about this. You tell me what's on the. You may be able to reschedule once before i wanna get on a song people who wanna get down to. We don't get on the phone. I'm matra coach. So i'm not sitting here trying to ask you a whole bunch of questions so that we can have. I can stretch this out and we can have ten different sessions over the next three months with new a no. Let's get on the phone. let's get to it. What do you wanna know. What usually i start with. Where do you wanna start. Told me what you wanna talk to me about. You tell me now. Where do you wanna start. And then the conversation goes from there. Checking people okay. How are you feeling about what we just talked about. Are you feeling about what i said. Because a lot of people that know me know that are very straight up as sometimes that is what is difficult for people to hear. But it's what's necessary for people to here. I've had people in pick my brain sessions before. Tell me that they wanna do. Xyz but they have no certification no qualification. They don't plan on getting any or anything like that. And i'm like okay. So who do you tell me who you think is gonna take you seriously you tell me how you envision this working and i'm gonna tell you that's not the that's not the way that's not the plant you need to do x. y. z. To get this thing started to get the lay the foundation and what a lot of people hang up his people just they especially with the social media aaron engagement people see other people's stuff and they just wanna get soft arted. They just wanna just jump off the diving board and just get right into it. When a lot of times they fail to realize there's some of the foundational fundamental pieces that you must establish first and then you can build from there so a lot of my conversations will people are hot establish that foundation talking into what is a look like and because i'm a creative person i can give you the name like you just said like. Oh what's the name of the group of men who listened to you. Like if i was talking to somebody through that on my breaks session i'll come up with whole name for them and everything. I give myself a new session. And that's what i pride myself on. Is that if you wanna come to me in brooklyn session. I'm give you everything that i'm not gonna hold back on your hold any information like oh. I don't want you to note that. I'm gonna give you everything you don't let you can ask questions about it. So sessions came from a very organic place of their missing a need for people to hack somebody objective to topping. Through with you you start. You broke up. Can you hear me. i can hear you now. You broke up a the last part of what you said. Oh i said these sessions just basically came from a space of me wanting to give to people but understanding that there has to be a mutual there. In when i give i just try and give everything that i can and then we can talk when you if you have questions about what are shared with you. Okay and a. There's a special currently so if you if you if you're interested just go to the to her site and take advantage of the special and so how. How could someone best prepare for the session because you have a list of topics that you you know. Stage in or how they prepare themselves so the the session so they can get the most out of it absolutely so on the website on my website. Yana in dot com. You'll see where there's a list of potential things we could discuss in either off things that i've done before in a part of my background and i have some knowledge on these areas now to prepare for the conversation the intake questions it consists of your name your e mail address What you want to talk to me about if we've had especially for if there's any links or any points of reference that i should review for we get on the phone and for the other person on the other end to best maximize their time. I think it's best to have have a little clarity on what you really wanna know. What's going to make a difference for you or maybe one of those burning questions that you've been wanting to ask somebody who's been in the space before but you don't really. You don't really have anybody to ask right. And if you give me if you'd give me reference points like let's say you want. Ask me questions about your instagram. Make should give me a link to your instagram and then have reviewed it yourself and be familiar enough with what you have on there. So that when we say you'll know exactly what i'm talking about saying thing was like your website knows types of things or if you have a business that you started and there's questions that you have maybe about pricing on your products and things will make sure that i'm able to see those products nasc- description it stand what you're offering that we can really dissect it and talk about it from From a wing place versus. Just sign. this guy who knows what what we're really talking about. We're just kind of like throwing stuff out. No i want to. I like to be able to talk. Specifics will people. When i cancelled that i can best guide them. It's it's a. It's an excellent resource. I watched my system fond of and so she by day. She's an administrative assistant in the rest of time. She's she's running a business and people hit are up all the time and they're constantly asking questions you know she's a giving person so she gives and part of me is like this. What's up you know. And they they're constantly asking how much spam sending my hair like. How much time you're spending it's not like don't be. Don't give yourself a point where it's like you geico bill you out and then go on to the next supply. I'm like exactly exactly in. That happens all the time. That's another reason why i had to put together the pick my brain sessions because people had they don't mean any harm when every a lot of people are out for yourself right so if you allow them to they'll they'll keep tapping tapping into tapping it's you it's your drain. And now completely replenished in their full and they have everything they need and then they go on about your business. I mean i'm honored situations before where people have asked me questions in basically use me as a resource about things that they didn't know anything about and then they don't even say thank you. Oh no i don't have time for all do. Is this how we gonna set this up and even have people that will just to give you an example he would. Dm me in as me questions about their situation. Especially after they listen to podcast and what i always tell people with. Can talk in generalities especially like if i'm on instagram. Live and stuff like that. But if you want me to start speaking specifically to you and your situation and dissecting it and telling you what you should do when you should move them what you should be thinking about and all those things you got book a session you gotta look session because i mean are probably need to know more and there's probably follow up questions that i wanna ask you in things. I wanna pro out so that could really give you the answers. That are going to be most official for you and as i get it. There's a lot of people out there who are scamming people trying to charge them or sees that don't really Method kind of results. That you think i get it that everybody is a coach in all these different things. That's why i'm the first person to tell you. I'm not a coach. But but what we talk about in the in the pick. My brain sessions is a hybrid of life. Coaching and concern salting. Because i've done this work before you know so i'm not trying to sell anybody. Hey come work with me. Come work with me if you think. I'm the person that can help you. You book a session. If you don't think i'm the person that can help you. You keep it moving. You listen to the podcast doing whatever it is you. We all have to decide what's valuable to us. And how we want to spend our money. And i never forget. A young lady came right. Pm's as she was asking me about the session she was asking me a question. I said you can buca. You can book a session. And then she said essentially the league. She went to the lincoln. She said she scoffed at the price. Right then. I went to her page. And i seen that since was just in amsterdam. She was in paris. Choose out there. Living her best live sauces number. One number one. You decided to spend your money on what you wanted to spend your money off number two. You think sis over here. Don't wanna do that kind of stuff too. So i'm gonna sit up here and give you all my knowledge gender pay for in paid for in my sweat and tears and money in and i'm just going just give it to you for free so you could be out here every your best life of an answer. You don't think this over here until she knew how she don't do that by game. Pay for knowledge period. You have to be you. Sometimes you guys take it there where people because people will try to take advantage and so you just set up things in place so that that if they do is because you let you allowed it and that's when everything in life. Yeah yeah. I am so i said okay. I'm gonna i'm gonna have on. I can't hear you you're breaking up. You're fine ish. Finest am i know. Yeah you kinda just kinda eight debating. But i think the audio will be. They're not even okay. So what. I what i want to do is. I'm going to booker session. I wanted to find out. I i wanted to be able to share you with our audience and i'm a firm believer in respecting people's time as so i. I really appreciate you taking the time out of your schedule to to be here to be able to share with the audience Yeah i'm going to have a list of what i want to cover a prior to sitting now With you and the only question i had is karen. I record the session so i have to refer back to. I actually record the sessions. And i send them to everybody after. Yeah that's part of the process. And i asked people before we get started. I record these sessions is just for your reference. So you don't have to take english notes and so that you can reference the conversation and i ask. Is that okay with you. I've never had a person say no. So yup i record session. And i promise not to ask you you know just just silly stuff just to see whether or not you know. This won't be like an alex trebek's you know. Oh sorry wrong answer but thank you for playing. No i definitely want to know. I wanna take advantage of the Of the opportunity to to be able to pick your brain so thank you so much for being here. We're can folks find you online at. They're looking search for you. Tell them all your links since stuff. I'll definitely have included in the show notes but take it away so you can find me at uganda angel dot com and that's a h. Y. a. n. a. angel eight g. e. l. dot com. And you can listen to podcasts. Amongst the other podcasts that i'm affiliated with at maisy media dot com that's m. a. y. z. i. e. media dot com and i'm on instagram at Dot angel that's why typically hanging out on social media so contact me outcomes. They have much for having me. Thank you. I appreciate your time. Enjoy the rest of your day you as well take care all right.
Thursday, March 25: Robin Roberts
"A brand new view darts live right now. Outsourcing immigration president biden makes vp kamala harris. His point person on the migrant crisis. Arkansas nobody who were better qualified do this. Why republicans say it's borderline insanity shoes about the worst possible choice with overcrowded facilities hundreds more children arriving at the border and accusations of covering up which really happening is the president giving her too much to take on anti social media. Why chrissy teigen just announced to her millions of followers that she's logging off twitter after ten years of living life online plus robin roberts shares. How she shining a light on civil rights icon and gospel. Legend mahalia jackson and the impact of the covid crisis had on her. Gma family here come hot topics with whoopie sarah hayes vr sunny boston and meghan mccain. Now let's get things started to well. Hello and welcome to the view. Yes yesterday president. Joe biden said that he's putting his vice president in charge of the situation at the southern border and comma harris laid out her plan to take the lead on it. Take a look is no question that this is a challenging situation. As the president who said there are many factors that lead president to leave these countries and while we are clear that people should not come to the board. Now we also understand that we will enforce the law and that we also because we can shoot them and walk at the same time must address. The root causes that That caused people to make the track. Every president has described here and so now there are accusations that the administration is limiting access and some republicans. Say biden's passing the buck to her. So she has a big job. I have. I mean they didn't care so much when they just through betsy devos in there or you know ben carson take care of hud so this apparently has freaked them out beyond all measure and so yes. She has a big job. You know she just finished taking care of covid with the president she just finished getting all this stuff done so now she's taken on something else and do you think she is afraid of taking this job joy. You think she's afraid of this up. So i don't think so i don't think lecomba kamla is afraid of anything. Frankly from what. I could gather. This is a huge problem. Even the zero tolerance and the the inhumane behavior of the trump administration did not stop them from people from coming in to the country. People are escaping violence escaping drugs Keeping poverty and with climate change on the horizon. I think it's just gonna get worse. It's a worldwide problem. Remember that i lamarcus let in one million refugees into germany. This is an issue. But i believe that will have a humane approach. You know you cannot leave this to the other side. Look at what janine pirro. This is just outrageous janine. Janine i'm looking at you. You should be ashamed of south. She said that these kids are lower level of human being. I mean we're going into some weird territory here when you say something about another human being like that. Janine i used to know you i used to like you. What the hell is going on with you. Janine that you would say such a thing about children children. it's outrageous. trust kamla. i trust the democrats more than i trust the other side. Well sarah what do you think about all of this because they just sort of begun to take this on their cleaning up really a mess that was started by someone else and they're only there less than one hundred days in and they're working on this now. You think that this was a problem for biden to put her in charge of this. No my first reaction to this. Was that saying i see. There's a problem. This problem has been around for decades and decades made worse in this last administration and now again as we've spoken with the influx. That was already. There was already an increase in people coming but with the compassionate approach to it. We were seeing even more. This is a big problem and it needs someone that can focus on it right now. I know some of the criticism has been He's shirking responsibility. He happens to be coming in during a pandemic that we're talking about vaccine rollouts. We've got mass shootings and gun control. We've got the economy which has taken a hit and we're going to be feeling that for a long time to come. I thought this this was addressing it to the level it deserve. This is his right hand person. This is carla harris the vice president. You know to to say we see. It's a big problem. It needs to be a central focus for someone. And i'm gonna go ahead and assign that. I thought it was great and when people say should not qualified. I don't need someone like vice president. Khama harassed come in as the expert. She's going to work with cabinet members experts. She's just going to oversee and be able to make some decisions work on some diplomacy with some of these countries and get to the root problem. But i do think it's important that they remain transparent because as the you know the other day when they let people into a facility. That's not overcrowded. Everyone knows what's going on. Allow us to have the checks and balances of seeing it especially on the heels of an administration where transparency was a problem. Show us let us see it. Don't don't treat us dumb. Let us come along for the journey because that makes me more suspicious when i'm not allowed to see it so they do need to open up this process and let us all in meghan. Where do you think is is. Is that a valid point. That that she's just made or do you think they're not letting people in because they haven't been able to fix everything yet. What your thoughts. I a few thoughts. The first thing i wanna say is obviously grew up in arizona and a border state. And i think sometimes when people in the media talk about this issue especially some more incendiary figures. The humanity of this is lost. I have seen firsthand. These are people who are desperate for a better life that are willing to risk their lives. I saw a video of to immigrants who were drowning in the rio grande river and nothing was done about it. There's people that are trying to seek a better life. And i have compassion and we need to remember that we are a judeo christian nation and these are god's children and we are all a nation of immigrants so first and foremost just want to say this is a humanitarian crisis. And we should treat it as such with that of compassion. I am not for open borders. I think a nation without borders is not a nation. But i think that we get into territory where we just really lose perspective on the desperation of people seeking a different life. And what makes america. Great which i still believe. America's the greatest country in the history of history is that we are a nation of immigrants in the culture that they bring to this country in regards to i'm vice president harris. She actually put a tweet out in twenty nine thousand nine hundred that said quote as president. I will immediately put in place a meaningful process to review asylum. Cases were released children from cages. I will get rid of the private detention centers now in regards to what sara just said about letting people in journalists actually haven't been allowed to see what they wanna see. They were let into the springs detention center. Which is where there is not overcrowding going on reporters want to go and see the donna and el paso emergency shelters where we have children that are over as high as fifteen hundred percent and some of the pictures that i've been seeing on more conservative Blog post that haven't been verified obviously by mainstream media. If that is in fact what is going on. We are talking about huge overcrowding of children in jail facilities. This is a problem that has been going on for my entire lifetime. I think everyone on this in this shows entire lifetime. This is comprehensive immigration reform in america should have been and continues to be the number one priority the attitude in which the trump administration faced this issue lacked humanity. I believe the attitude that this administration is approaching this lacks the logic and understanding the big baseline meat and potatoes. Issue for a lot of americans is the fact that they want people to come here legally if they're coming seeking asylum. We need to have a better process than leaving children in jail like facilities which my interpretation is no different than kids in cages. Aside from the fact that they aren't being separated. And i believe that both sides for the good of the country and for good of these children and it may be cliche but having a baby at home the idea being in such a desperate situation that i would flee with my baby to seek a new life. That is how bad it is. We need to keep that in mind when we address that sunny. How how big a deal is this assignment for comma harris. I mean i think she's. She is the perfect person to do. This what's your thoughts. Yeah i mean. I think she's uniquely qualified and it says a lot when vice president when president chooses his or her but in this case his vice president to handle particular issue. We saw it. When president obama decided that vice president biden was going to handle the affordable care act and shepherd that through we saw when president trump decided to hand over the corona virus force to vice president pence. And that and jared kushner. That didn't go over very well. They were not qualified to handle that. She is our vice president. Kamala harris is uniquely qualified. Because she is an attorney she was the state's attorney general and california. And let's remember that some would consider california. Also a border state because you have arizona oregon nevada and also mexico bordering california and then again because she's a lawyer. She's handled civil rights cases. She understands the law of asylum and finally she is the daughter of immigrants herself. And so while those people like the governor of arizona is saying she doesn't understand living in a border state not only does she understand living in a border state. She also understands the unique experience of being an immigrant. She understands the unique perspective of being the daughter of immigrants. And so i think what better person to handle this very nuanced and very unique problem that we have at the border. And i'm sort of flummoxed at this constant gas lighting by the republicans that this is a new crisis we know that this is not a new humanitarian crisis. This is in fact. A -tarian crisis caused by the trump administration's policies at the border. This stay in mexico policy kids in cages policy separating families policy those are the policies that caused this crisis and so i think republicans want you to think that this is all new and republicans also weren't really so concerned about the crisis at the border. They were supportive of those trump policies. Now all of a sudden it's it's biden's problem while it is this administration's problem. I think she's the person to solve it. And i wanna point out before we go to break that they have been in for less than one hundred days and so i'm sure and they don't want to open up. The places that they know are still messed up. I believe they probably want to try to fix them. So i'm give because you know they just kinda got here and been taken care of a lot of other stuff so i'd give them a little bit of time. Of course the republicans would rather you paying attention. So you don't remember. There was an insurgency when you know i'm not going to bring it up but i'm just saying. Give them some time to get to this. This problem and i believe she's the person who can do. We'll be right back. The hat is using. daytime are happening right here. We talk about things on this. Show that people don't talk about that. I can't wait to say honesty from strong women. We need all hands on deck and we need right now. This is the time to speak out unafraid. To get real. We're not gonna agree on everything. We're all seeing differently. And that's the beauty of the and that's why the most watch number one daytime talk show is abc's the view. Still ahead. robin roberts talks about how she's readjusting to life back in the studio welcome back a decade after building a huge social media brand chrissy announced that. She's logging off from twitter because she can't take the negativity anymore and left with parting. Words never forget that your words matter. Is anyone surprised that she's done. That is know ten years long time. So what do you think of this move sunny well. I think it's always really important to protect your own health to protect your mental health and ten years certainly is a long time to be constantly abused on social media. I often say it's these. You know twitter thugs with their keyboard. Courage tweeting in their mama's basement with their cat and and frog again flag and eagle profile. Pictures that have the courage to say things online to you that they would never have the courage to say to you in your face alone or with your husband standing next to you. They would never have the courage to say that and the things that they say are hurtful the things they are. They say are very abusive. I've been called my qualifications have been questioned. I have been called everything under the sun for merely doing my job on this show. I have been called a man feminizing. Which is something that they often do to black women right on social media and that kind of thing has to stop and it's a shame that she has to give up her thirty four million followers this platform which i think she has been beloved and has done really good work by specially sharing her miscarriage with the world and de stigmatizing that experience and experience that i share but she has to protect herself before anything else in her family. Sarah's this something you've ever considered doing your new twitter. Because i that's like a troll universe but i think that it was smart of her because it is putting her mental wellbeing and mental health first. Anybody that has ever asked questions to therapists doctors. The one of the first things. They'll talk to you about is social media and how much time you're on their One of the best pieces of advice i ever got was from our own meghan mccain. I we were talking about twitter one time and she said to me. I said you know. Sometimes the negativity can get overwhelming and i block them and she goes. Oh no. don't block them new them then they never know you even saw it and they're screaming into a black hole so i've taken out very seriously so there are days when i know it will affect me and i won't even go on twitter than other days when i do. I have a mute list. That is longer than the phone book. So but i do understand why she did it. I think it was a smart smart move. It's sad that's the reality we live in sunny. Said that people will say things they would never say because they think that's their moment and they're willing to sell their integrity and their character and anything good in this world for attention. But i commend her. Megan what's your thoughts about this. Should she is this a good thing. I echo everything everyone just. I actually agree that. I thought chrissy teigen was all entertaining but also incredibly brave with a lot of things she shared specifically about her horrible miscarriage. And i just thought she was a funny entertaining person on twitter. I you know. Many of us followed her. I actually this is a weird topic for me. Because i love twitter for a lot of reasons. I met my husband on twitter there. Are things like where you can help with. A charity is Like my injure kosinski with his hash tag team beans for his daughter. That tragically passed from a brain tumor. There there's amazing things that can come from social media. I've had an amazing sense of community with writers and journalists and especially other conservative thinkers like an during times of political events like the capital of the capital. It's actually very useful for work. Because you see what's going on. In real time you see journalists tweeting. And so i feel that i have a professional obligation. It's not really an option for me. Not to be on twitter in the sense that i need to follow it to be updated on news events by journalists and that's just the way it works the flip side of this. I spend quarter of my life trending on twitter. I turned on twitter. I was trying on twitter yesterday. And nine million. It's almost. I don't think it's ever been posited. It's always something negative and it's always a bunch of people. It's not just random people. It's people with blue checkmark and i do not need a pity party. I said there's no crying in baseball yesterday. I have chosen to do this work. This is not indentured servitude. But i am the one conservative woman in all of mainstream television on the only one left and with that i am saying things that are not said in an echo chamber normally. I say things that people don't wanna hear and if they disagree with me automatically becomes personal about how bad i am i'ma disgusting white women of privilege. I only get anywhere because of my dad. Everything you guys have already said is not anything. I haven't thought and felt had been insecure about for my whole life and the problem is every time i something political that people don't like becomes deeply personal and now it's involving my child so i get it i get. Why chrissy teigen can't do it. Has one hundred percent impacted my mental health. I have suffered from depression because of things people have done to me on social media. But i don't feel like i'm in a place where i can quit social media because i need to use it for my job. It is a catch twenty two. We are living in an absolutely toxic time. I'm just gonna put one more button off to this day. After my dad died a picture went viral of someone putting a glock gun at my head. A picture of me crying over my dad's casket if you think that is the type of world we live in and what silicon valley thinks is appropriate and by the way it wasn't taken down it wasn't taken down for days and days and days until my husband went crazy on twitter. We have a responsibility in. Silicon valley has a responsibility to be relegating word of this because people commit suicide over things like this is a serious problem. I'm a grown ass. Woman with a bunch of support with the giant platform. Do not feel bad for be feel bad for the teenagers who are on twitter and young people as young as ten eleven twelve years old or being bullied in school. And think there's no other frigging option except to kill themselves and that's why this is serious. And if someone like chrissy teigen who was married to. John legend and has what looks like a perfect beautiful life. Can't take the toxicity name were. Maybe we have a problem. And i'll probably trend on twitter after this because of that too. Okay joy you. What's your thoughts on this. Because i know you've got some well. Only i have very few thoughts on this topic As far as christie is concerned she made her money she's successful. She used twitter to her advantage. She can leave it. There comes a time in everybody's life where you say to yourself. Is this job worth the aggravation. Okay we all ask ourselves that question. I ask myself that question on a regular basis as far as twitter is concerned. I mostly ignore it if i do. Check some nasty remark which is not that frequent from the. I must admit it's usually somebody who heads my politics. And i learned a long time ago when i was on a radio. Show and people would call made. They didn't even know what i looked like. And they'd say you're ugly okay. I say you don't even know what i'm look. Look like so you. Don't pay attention to these poor pathetic people out there. These trolls living above the garage. Ignore them yeah. Well as you know. I don't i never check. I guess i don't need someone else to try to make me feel bad. I can do that myself. So i don't need other people to make me feel bad so i know all sometimes i will see something to somebody says. Oh look at this. And i might check back but maybe it's because i. I don't want the aggravation you don't know me. You don't know who. I am or anything about me. Only know what you say so for me. It's like it's probably a good idea to stop checking from time to time just so you remember who you are not who they tell you you are. We'll be right back. We're back robin. Roberts has nothing to do these days. She just she just hanging out you know maybe she does. She has nothing to do and she's executive producing right now. She's got a lot of free time you know. She's doing the lifetime movie and amazing lifetime movie about civil rights. Pioneer and gospel superstar mahalia jackson. Please welcome the very very unb. Busy robin roberts. Hello darling welcome back. Sarah has the first question rob and you got your second vaccine this week. Your second shot. How are you feeling are did. Sarah had it on tuesday. And so yesterday i was feeling a little puny I'm mara was sore no fever. No headache nausea flu. Like symptoms like some people have after their second shot feeling like my old self today. We'll go to be here on the beach. Megan yes well robin. We've been talking about what it might look like when we eventually return hopefully to the studio but you've actually been back morning america since september without a live audience. What has that been like for you. And your co anchor is and you feel safe. What's the vibe like merciful meghan. You'll have not missed a beat. Okay hang on his old getting that. You're very welcome It's i was home for the first seven months of the pandemic broadcasting out of my basement. Michael and george were still here in times. Square in new york and i was able to return in september. I have to admit and you know people are going to be starting to come back as you all will too. I was a little anxious in the beginning. Because you you get used to your cocoon your safety net but it is great to be back to get back to that sense of normalcy. We still have a very skeletons. Crew no live audience and it's really helped us on in a way. I mean we were always tight but now we're even more so and just so grateful that we're doing as well as we all are. Well robin your executive producing a new film maleeha which is a wonderful wonderful film. It's on the incredible mahalia jackson. She was deeply influential during the civil rights movement and an incredible singer known as the queen of gospel but she was up against so very much. And for many people though. This film will be a first introduction to her. What do you want people to know about her life and especially her legacy of thank you for asking that because you know we've seen her in snippets of people's movies you know what it's about dr king and some other people in the civil rights. She deserved for her entire story to be told. Yes the queen of gospel. She did not consider her voice. Her gift considered her gift using her voice for purpose and that was something that was very important to her. She was a one the washington on the march on washington. She was shot it out to dr king. Tell about the dream you know he was talking about some other things and she knew that could really resonate with people. And that's when he went into the part of the speech that we remember the most. But i want people to know what a strong she was on the sullivan show. She toured europe. She played carnegie hall a black woman at that time in this country. Doing it on her own terms. People wanted her to be a part of secular music or maybe the blues and she held fast to what she felt was her purpose and that was to make a difference and boy did she did she ever. And you know you need someone really talented to play a singer of that caliber and you cast danielle brooks and wow can she say let's watch. This said can why how aretha and now mahalia so we know danielle from orange is the new black right. And how did you find out that. She had pipes like that though. She was a mattress brooks of my fellow of my fellow executive producer. Linda burman and i have been working on the script for a couple of years. We brought and tony award winning director kenny leon. And he was the one who said danielle brooks because he had worked with her before. And i have to admit i was a tasty from the oranges. New black she can sing and of course being uncomfortable. And let me tell you ladies. Let me tell you who. I am so excited for people to see danielle brooks as hill jackson. It is so powerful My partner amber show her the film she said. This is oscar worthy honey. It's not up for an oscar Might be an emmy. But a can't win an oscar but thank you for thinking. It's back good that it's oscar worthy but it's just that kind of film and she brought the entire cast many broadway stars and i'm so grateful. Linda burman i to kenny leon. For being danielle spirits adine dental looks to this makes all the difference. I didn't do no idea she could sing like that. They clearly missed a story. Line in for tasty in orange is the new black. But you've been doing robbins. Set great work on these new projects. Last year you released stolen by my mother the kamala mobely story and now mahalia. What is it that draws you to these women's stories and their strengths. Their vulnerability their imperfection as great as they are in many ways especially mahalia jackson The way that we show her vulnerability her her And that it's it can be a strength and not a weakness and so i. I really appreciate these films. When it's not just that the opportunities that might production company rockin robin productions. We make sure that at least fifty percent of the crew are women. I'm not talking about the cast. We're talking about the crew of producers behind the scenes and so to be able to provide opportunities and for danielle brooks. She's co executive producer with kenny. Leeann she's able to stretch a different creative muscles so It's just something that as much as i love saying. Good morning america. I am so grateful with lifetime to give me these opportunities to share these incredible stories. Because as you all know it always comes back to storytelling stories. Everything my friend. You know things to robin roberts. You can see her weekdays on good morning america right here on. Abc and mahalia premieres april third at eight pm on lifetime. Watch it because you will learn so much that you don't know we'll be right back. Staying informed has never been more important. Get information is coming faster than ever. So how do you make sense of. It'll start here. Hey i'm brad milkey. Abc news and every weekday. We will break down the latest headlines in just twenty minutes straightforward reporting dynamic interviews and analysis. Experts you can trust always credible always solid start here from abc news twenty minutes every weekday on your smart speaker or your favorite podcast app. I'm so thrilled to announce that on. Monday april twenty six. Abc presents sesame street. Fifty years of sunny days. It's a special highlighting. How for more than half a century sesame. Street's addressed issues like homelessness and autism and addiction using the universal to of music empathy and celebrity. The special takes you inside the creation of a black family of muppets. Wes and allied and walker father and son duo at the heart of sesame. Workshop's new racial justice initiative coming together. And i'm just going to tell you something. Because i feel really good about it. I just found out that my fourteen visits to sesame street makes me the most. I visited the most on this show. It's an proud of since. I love sesame street and it just you know it just makes me happy sesame street. Fifty years of sunny days airs. Monday april twenty six eight eight o'clock seven central on abc on abc. You get back mom. She was a teacher. And you get that need to teach young people from your mom this thing really amazing about sesame street that then i always felt because my mother taught me that children need to be spoken to people. And that's what sesame street. I saw i just i i i love them and i love all the teaching and all the stuff that they've done and we've introduced characters together and Just really happy. I'm grinning at and they've kept up with the times kept up with the times which is so nice. You know they've evolved. And so many societal issues in such i think appropriate child-friendly way that we don't see often enough. I think we should children's programming. It's really great. Do you remember. We introduced abby on our show. We've introduced on several of the arts. And so yes that's true and on that note we'll be right back. What the what they want. What the hell he'll q. Luck that was you look so cute you just a houston really cute dorm. You're still alice. Hey welcome back christian a massive empire or the fortune but she admitted to the wall street journal that when her marriage with robert kardashian broke up and ninety one she realized she was completely clueless about money matters and it was a wakeup call for her to get on top of her finances. I think that's brilliant. What do you think sarah. I'm a finance girl. So i can get on board with that. I remember my dad marching meeting the bank when i had my paper out because i said i wanted to invest my money and i didn't really know what it meant. I was like fourteen or fifteen. But i made the least of any of my siblings for years and years and years and i was always the one everyone came to to borrow. Money was called the money aunt because every birthday and christmas gave money. I said they'll thank me later. Like i'm big on independence financial independence knowing where everything is just in case how about you. How about you enjoy. Well my mother said if i get hit by a bus twenty dollars in the credentials and that was my tutorial on how to do money when i hit forty i had no husband and i had no job and i had no savings so i learned really fast that i better get some money in the bank. And that's when i started paying attention is very important if you want your specifically as it yeah right what about you. Signing him yeah. I didn't learn anything about financial literacy for many many years not through college not the law school. I'm totally self taught. And i feel like i still struggle with it. I had to take a financial literacy course and it's something that i think. We should be teaching high schools. Actually think we need to go back to financial literacy. I realized that my kids weren't taught that in school at all and and thankfully i've had to show them what little i know. So it's it's a real problem. I think not only for women but for for men. Also how 'bout you megan. What do you think you know. I really credit my mom for helping me with everything financially related when i was growing up in showing me how to like you know balance a checkbook and things like that and when i got married i said what is the secret to you and dad's lasting marriage. They were married for almost forty years and she goes separate bank accounts and separate bathrooms darling and that is some roles that i live by myself and i think that is some sage advice. And that's what i do. And that's what ben does and but we do have one credit card that we share for like euro series and things like that just like things we share and there you have it worse solidify. We'll be right back. We the view. This is the moment in history. Hold these truths. I just like seeing americans being able to speak truth to power if that's the dam to be self evident. We the people for the people by the people that all women own men all people are created equal. We can expect empathy. We don't give it as well and free to openly voice their view true justice and the american way. So there you have. It would ever your view thoughtful talking the issues. Americans understand what was going on so i want to thank all of us. You are welcomed here. Y'all's politics are different than mine. And and and i think it's actually good. We're having a conversation now with so much at stake. I have full confidence in the american people about where we need to go as a country. Thank you for making us. America's number one daytime talk. Show no show like yours near the emmy award winning yield on abc. That's what we want you to tomorrow. President biden's education secretary. Dr miguel cardona is a lie to share the lessons. He's learned to get america's kids back in class safely and when he thinks school bells ringing again nationwide plus. It's feel good friday on view your deal. Hey we want everybody to have a great day. Take a little time to enjoy the view. Where your mask wash your hands and this is not over yet but we're fighting it. We'll see tomorrow now when it matters most the straightforward facts. Abc news is america's number one news number one in the morning number one in the evening with america's most watched newscast number one in late night versus the competition number one in politics and most wants across this historic election versus the competition. The number one daytime talk show in number one in stream. Smoke trusted most watched. Abc news is america's number one news.
I May Not Be the Loudest in the Room: Interview with Jermaine Hall
"Hey, guys. This is my leak. This is the mytalk you podcast, and I am back with one of my infamous interview today today, I am talking to Germain hall who I have a very interesting story of how we met a we will get to that later. I want to spend some time telling you about oud Germain hall is germane was born in Saint Lucia and raised in Queens, New York, he soared to the heights of track and field as a nationally ranked college athlete on the discipline, and perseverance that led him to compete at the highest level of sports have defined his winning career following graduate school Germain began his digitally native career at the infancy of the consumer web an internship at vibe magazine earned him a position in its media. Ventures department where he served as five dot com. Online editor in chief. It was here that Germain's passion for music and entertainment intersected with his journalism degrees. Evolve. The website from an online hub of repurpose magazine. Content to become the online thority for hip, hop music, culture, and breaking news the websites growth under house leadership helped commercialize the fledgling department resulting in its first ever profitable year. Now, we're going to get into where he worked Germain went onto hold senior positions at award winning media titles, including the source Dublic sale and king which remains one of my favorites were each he was instrumental in record-breaking results across circulation website visitors and overall organizational growth Germain used these roles to build his expansive celebrity network collaborating on content packages with icons like puff daddy. Leonardo Di Caprio George Lucas Kris Jenner where I think this is pretty cool at king. He gave Kim Kardashian her first ever magazine cover. I didn't know that. He has been a contributor on CNN entertainment tonight USA today in the New York Times. So today Germain is the vice president and managing editor of BT digital where he counts his biggest success as the turnaround of digital content app operations that he was hired for so Germain has finished career for me division. Crafting the voice and producing ground back breaking in viral content for the most powerful publishers at the intersection of urban and celebrity culture, and breaking news germane that the whole I know. Every time I read people's bios bag to them. They're just like wait who is this? So. That's exactly what I was saying. Yeah. I don't I don't know the ever feels like they're that person. So I had no idea that you ran track. I ran track from the ages of eight to eighteen and I attribute a lot of my success to that time in my life. What specifically about track and field, or even just being an athlete? Do you believe has contributed to your professional success today? Discipline truck for you to be a really good track athlete. You have to be disciplined because does going to be people out there who willing to out at work you. We all come in. We all come in at a sort of at least the people who are gonna go onto to compete in college at a difference between that talented you've been given by God. And being one of the best one is in the country. It's it's really it's the work is discipline. It's like making sure you do. You're running your morning runs making sure you after noon runs making sure when you have those structured practices that your your focus making sure that you're eating correctly. So I've taken that of thicket that discipline of pretty much applauded at everywhere that have been. So you you're a pretty disciplined person. Like are you really strict with yourself? I think a very very hard on myself which also comes from also comes from from from track and field. It's a it's a it's very much a team a team sport at the core of it. And I remember there was this one moment. I'd I never forget it. It was a distance medley relay in think I was running. I think I was running the two hundred meter leg. Okay. I bombed like horrible. I was just coming off. Coming off of injury wasn't really integrates of shape. And a remember walking again off the track walking into the middle of the field and just like just crying. Uncontrollably. Really because. Yeah. Because I had I had let my team down. Individual ways of an individual race. And he sucked that's on you. You know, right. But when it's a when it's a team race, and you bomb out, you know, this this three other people as well as an entire team that that you've let down. Yeah. And that that point always that that that particular point in my life, always sticks with me because I don't ever wanna feel like that again. Well, that do you feel like you weren't prepared? You said you were coming off an injury leg. Are you just being harness Aberdeen? Like, there's more that you could have done. I think I gave up okay gave up. I mean. I was I was was coming off at injury. But I had done enough of the work prior to that injury. Where you know. I was I was still in still in pretty good shape. But mentally, I just. I just I just wasn't ready. Mentally, and well, that's such a I I ran track from ages eighteen and we were undefeated in our in the four by four hundred relay and I hated the four hundred into the day. We still have a record. I think we ran a three I could be wrong. It's been so long. I think we're fourteen fifteen years old. We ran a three minute forty five second mile, and and I feel like track seems like an individual sport. But is very much a team sport. And I feel like I always am better. When I'm having to play for the team versus when I'm having to play like do it for myself. And I think that I'm a very disciplined person, and I never really realized the practice all the time. And I feel like discipline for me. And I'll ask you this question. Disney discipline for me is doing the things that I act. Absolutely do not want to do. I think people think I like working out. I don't what are some ways that you exercise disciplined Jemaine like what's your thing? Or what are the things that you're doing that? You absolutely just don't like it's funny that you said like, I think people people saying that I really love. Every single minute of the day. Okay. Okay. Don't get me wrong. Like, you know enough to read enough to keep up on what's going on to see. What's competitor is doing? That's all that's all part of the gig. But the amount of content that you now have have to keep up with has tripled and quadrupled. You know, it starts to you know, I gotta be honest. It starts to feel like like homework. Some some of the time yet versus just having grabbing your favorite MAGS and posting up for the week. Right. It's it's you know, like some eight to me that that was enjoyable coming coming out of the house going to stand getting the latest G Q reading through it sort of figuring out like, okay, I see what they did hair. The hair Huckabee huckabee's apply that to my everyday content world coming up with with content for different mediums. But it's like, you know, it's like now, we're go-. I'm reading night reading MAGS, you're reading countless sites. You're listening to countless podcasts. It is just an influx of a ton of information that you have to take in. Which which really, you know, takes up takes up your your entire day. Absolutely. And there's there's still work to be done. But I wanna I wanna transition because I feel like we could talk about this forever. So you and I caught up last weekend for several hours, and it feels like forever girl that I was just calling up to your office. Offering your advice that you didn't really ask for. I mentioned you in my interview with Daytona on and I told him that I used to call up to king when you guys worked together. And that you would take my calls with my suggestions for the magazine. And I have to tell you that. No, one would listen to me or even give me an opportunity to share my ideas the way that you did. So my very simple question to you is why did you do that? Of very simple. Very simple. I like, I always believe I think it, you know, in a in a structured editorial world, sometimes people tend to tend to operate within a bubble. And you're only listening to people for the most part that work at your gig. But I think where I think where the jewel is are the Joe's really come from. It can come from the outside though, they can come. They can find some someone who's in who's entering who's not so much, you know, involved in system every single day, but they have they have their opinions in and they have Adidas. So I like to I've value those opinions just as much as I value, the pins of people who are working there from from day to day because it gives me an outside perspective that I'm I just might not be really thinking, right? Daytona told us this really interesting story about how he got his internship at vibe. How did you go about getting an internship at five? The. Listen, they're they're wanting to know how to get internships. And I know that things have changed a ton. But I'd love to hear about how you got the internship and maybe some advice on getting an internship today. I was so what it sowed? I it is a went the traditional route at first, which is you know, I I just I send my resume along. Okay. So the person who was a I think she was a Royal assistant at the time they called in and our member wearing this like this green suit. This will cooperate in. But. Okay. And when I got the I was like, yo there is no body hair that his dressed up doing. But I feel like that's who you are at feel like you button up. I yes, it heroically. That is absolutely. Who I am? It needs to be that in that moment. Okay. Okay. So, you know, go through the interview. I think I spoke to a spoke to Carla Harris after the editorial assistant, I think Carter was heart amount of been executive editor at the time. So he was he was he was high up there. And then I think also met Karen good briefly. Who who I allies does hurt a writing was just so powerful to me? Okay. I get I got the call back. They're like, hey, you know, you're going to be one of the interns for the fall semester. Congrats as like bossom co this is this is great. Yeah. I had to that was also my first year of grad school. So I needed to find find the balance to try to try and make that work is what I found was. I would go to five and I just I wouldn't want to leave. I would I would be there forever just transfer. I being putting together news packets that I could handle around to all of the editors remember, this was a those elitist story that they had me transcribed in like to me that was like topiary as like, man. This is crazy about actually hearing in into from Lear that was done by five. Right. That's insane. To me, right. So, you know, I soaked up as much knowledge as I as I could I would walk around ask ask questions all the time. I'm sure they were like tired of you like why does this do like come in every single time and have a million questions right of show that that those a payment? I'll just try to so up as much as possible. Okay. And then them internship came to an end and the rule advise was the hard rule was the only intern for one semester. Yep. No matter what. So I was like, you know, what I enjoy this place way too much for to be one semester. So I started I was like, what's what's what's a loophole? Where like how can I get around? So I went down. I went down to the digital department and blackspot was was running when it at the time. Larry Hester Larry was. Probably most well known for writing writing the big of cover story with the east coast versus west those Caroline sublime. It was like it was good as I am like internship is over you know, I only have my like my semesters done. You can only do semester. Is there any way I could like sneak in? For you. Because technically that's not really interning for the magazine in its interning for for dot com. It. I think it has live who just like, oh, kiss shot hustle. Yes. Technically. You know, I think he found a funny, and he was like, yeah. You know, let's let's do it. So I was able to get that second semester at vibe. And that was that was so pivotal to my career. Really? Oh my God. Like so so pivotal because during that time big hit past. And we need we needed to get information out there. Let's possible. Right. And you can't wait for this a new cycle. Right. Big glossy because it takes like three months before a mad comes out. Typically, right is what I remember from my PR days, probably has changed. But six long time for a magazine hit the stands. Yeah. I mean, I mean, traditionally always like three months ahead. As far as the production cycle. So you know, Blackhall's everybody in. The day after the day after big passing actually the same day because. If he he died late at night of Arab, Angie, Martinez jumping on ninety seven crying being she's in tears making that a announcement. You know, so black so black spot calls all hands on deck excites, myself Twas. 'cause they they was interning at the same time. And we all put together, you know, our little pieces are remembrances on on big. So we all approached it at a different angle that was that was really like my first substantial piece of writing. Okay. And it was for the for the dot com. You know, like, I I go every now, and then I go back, and I read that at t's, I cringe. Because it's it's the writing is so bad. Yes. Yeah. And the intent is there. Yes is bad. I feel like that. When I go back and listen to things that I've recorded or interviews like I recently was on the cover of a magazine, and they used an interview from like four years ago when I was like, ooh. I'm not the same person. This is this is upscale loves. Yeah. And they said that if there's a coup that I was reading that said like if the like if if you're if who you were say three four or five years ago doesn't embarrass you like you're not you're not trying hard enough or something like that people. Like, I don't I shouldn't be embarrassed. But like sometimes it's kind of embarrassing now that you shouldn't be further along because you have to grow. But going back is like Yikes. So you can still find that you can still read go back, and sort of re what you wrote in your life. He. Yeah. Like, I you know, I printed out actually have a have several copies stored away. Okay. If it ever gets lost. Like, I I have plenty of copies to go pick it up, you know. 'cause for for me, you know, even though like I said, even though the the reading bad, I do I do get I still get a kick out of it. Right. The fact that it's it's tied to big who is my favorite himse of all time. Okay. I see this as as valuable data. So if you could like one thing because now you are MVP mode, and I don't know if you do any choosing of interns, but a lot of people are looking for internships in the space that you're in now. And so things have changed. What's one thing? You think younger people can do or you know, anyone even just not even younger looking to change their career can do to earn internship and getting the doors. Man. That's a that's a great question because the the process now's little it's a little bit more corporate ties because the s by common Viacom, just as in certain rules, internship needs to internships needs to come from them. While these they put the people in front of you in any event. Okay. If a brand sort of select with a they want from that from that. But once but once those interns get in the door, okay? I think not to cut through. I think what what they don't realize that even though they're just on the intern level. Like, always looking right. Looking at like how you move. What you do? What are the conversations? You're having might direct reports. What are the conversations that you're having with my direct reports? Direct reports. Wow. Right. Right. I'm paying attention and the most disappointing thing for me when someone interns at BT is them not making. An effort, and you know, maybe maybe they're scared. Maybe they think that you know, this is impossible. But if you if you leave that internship with without having a conversation and a sit down meeting with me, I feel like you've done yourself a disservice. Okay. I like 'cause I'm I'm completely open to any level. Okay. Which was sort of goes back to, you know, you're not talking about you, call in taking your your suggestions king. I'm just you know, I'm open to to any level because I I I feel like I'm really good at spotting talent. Okay. It's in it's raw its Ross form in. So I I really love when interns take initiative in like a, hey. Internships about to end. But it would make sure that we have conversation before before. Thank you for that. Because I was going to ask how do you recommend? They go about it. Because a lot of times people are sort of afraid you see VP. And now, I look back I had an internship and in New York at Unilever working on the Calvin Klein classic brand fragrances team. And I never really saw the boss that was the VP in. I was so afraid to approach her that I ended up leaving the intern ship never asking to have a sit down. So I'm glad that you gave that because that was, you know, a tip that I just didn't know and probably figure she seems disinterested. Me the very first time. We met that. I was just like, yeah. I didn't have the guts to to go back and do it again. Right. Yeah. I didn't. Yeah. I didn't. I didn't have the guts. I'm better much better now, but I didn't have the goods thin, and I think not having the guts was just not having confidence. Like, I didn't. I didn't really believe that I belong there in. I've told the story. Because I kinda cheated my way into the internship little bit. There were some requirements that you needed to have that I didn't have that I made happen. So I was kind of they're like not trying to figured out. So it's like don't rock the boat girl. But I always say that confidence usually comes from like having from actually knowing because I don't think I really knew what the heck I was doing. I didn't have the confidence. But that's me spilling t what's what's funny about that. Is when I when I see you I see a person who is so recumbent. Be not afraid. Anyone approaching like the president of hey. I worked my way up to that point. You know, I think I finally had to to realize an M I friend. Levy says this is like once you're in the room. You have to understand the you now deserve to be there. You know, a lot of times we're in these rooms. And it's like what like do y'all know that I don't really out or whatever. And so it's just I've had to say once once you're there you now deserve to be there. So it's time to get busy in. And I realized that like the competition is thick and the people who get ahead of the people who aren't afraid to speak up. And so that takes me to my next conversation. We were having this conversation about it seems like people aren't really making professional names for themselves anymore. Like you were saying Carter Harrison, caring good in. There's these big there's these names, and I remember looking up to those names, people were charting pads. Why do you think people don't seem to be as interested in? Sort of this long game. Because a lot of I feel like every year. I said intention my intention for like sharing for twenty nineteen this marathon mindset lead. It doesn't seem like that's happening anymore. So what advice would you give to someone who is maybe starting out and about how to potentially go about making a name for themselves. It's all about it's all about changing changing with technology changing with what's going on. It's it's still a lot of people very prominent people in in in the print world me really pushed back on what was happening with with dot com. But you can't you know, you can't can't fight Tech- technology start kind of roll with it. Redefine yourself. Medium and learn how to tell stories which is pretty much what what you know. These people have been doing, but just learning to tell stories like for for different medium than also I think what I've what I've also noticed is that a lot of those print magazine editors and. And an writers have really found a space in Hollywood. So, you know, not that not that not that they're not up on dot com. Or no how to operate within the parameters of what's going on there. But I think the aspirated which just which is different. They wanted to tell if they wanted to take their story, storytelling ability and really apply that in the Hollywood space. If you look at what what made me is doing with arou- like, you know, she's telling amazing stories what she did with Roxanne on. That flicks is is fantastic. You look at look at Cheo. Let's pretty much been at a very high level in Hollywood for a long time now. And then what what he's done with with Luke cage. You know, it's it's it's a great. It's a great story. So, you know, some, you know, some people have been able to that to calm people who've into other mediums in I think the people who just who have flooded or the intake the time to learn these these emitting medium sort of fell fell by the side. Yeah. So for young people who I feel like things are changing so quickly for then, you know, it's like one minute. They're women at their influence on Facebook. And the next minute eighty to be one on Instagram. They need to be on Snapchat. The next minute. They need to make video. I mean based on what you know from having this sort of like long career is there some sort of like common denominator, or this constant that people should keep in mind as the mediums change. At the at the core of it. It's it's the entertaining. Ooh. That's at the very core of okay? If you're if you're enter if you're a true entertainer, and you can hope people's as. Attention for long periods of time. Like, no, no matter. No matter what the medium is like you're going. You're going to win like out give this. This example. Those influence of that that we work with recently to to create a to create a show, and it was a it was a kind like comedy news show in the idea was to have her take the characters that she's developed on Instagram and then apply them to this to this video franchise. Okay. She, you know, she she she really fought really fought with us. Like, hey, you know, understand the concept? That's not really what I wanna do at rather do be instead of a, and, you know, we will I okay, cool like trust. Like trust us that we understand that. What you're doing? Right now is entertaining at if you do a you'll be exponentially more successful with with. This franchise. And so she didn't listen than she chose to do. She chose to the b. And it was a complete was complete bus while she did do a for the first episode, which was successful, numbers wise. But but still still wanted to do what she thought was better the better option. In the series bombed from that point from that point on. He think is difficult for people to to listen and take suggestions when you know, they feel like what they're doing working. I feel like social media's kinda like does that. So my experience you're saying be entertaining. And my thing is like be interesting. You know, people just they aren't that interesting in photos. You don't really have to be interesting. But then once you start getting into video, which you sorta you've got to open up your mouth at some point. But I feel like we've tried to lift people off Instagram, and I have found that like people can really craft their own story. But then when you get them into your world or just the real world, they can't do any of this. They're able to do so you can take ten thousand Celtics to get the most beautiful picture. But when you know, you've got you flown photographer, and you only got so much studio time what we can't take ten thousand pictures right end. Sounds like I think it's it's it's a lot easier. It's easier to be funny, entertaining charismatic and sixty seconds. But what happens when you get? You get picked to do something that's ten to fifteen minutes long. And and there's not just a your camera there. But there's like five cameras with like bright lights on of people walking around. It's Meg issue in your room. Rarely different situation. It's you know, and I think the people who can thrive in. In in that in that sort of Rena like there, those are the people who get entertained, no matter what like I look at Aleka. Just just Larry's. And I think she's hysterical. I'm so sad. I didn't get a chance to to to work with her as of as of yet. 'cause I think he's a tremendous talent. I feel like whether it's whether Justice on a comedy stage, whether she's on Instagram whether she's on on a rail on FOX completely entertaining every single time. Yeah. Is that the girl who just wished Drake like happy birthday or something was that? I'm not in a loop. It all Drake posted some girl. She she he repo. I had never seen him do something like this. But he reposted like some instant comedian staying, and I think that might be heard because I remember her name from there. But you should I mean, you're you're having to digest all this content. Maybe you have seen it. But it was you have to go check it. It was funny. You know, she was saying she was in Times Square that Google these get the show dates, correct? It was funny as a small business owner, how many of you hate dealing with all of the tedious admin and paperwork. Joan worry. You're not alone. You need to set aside that frustration. You're feeling because there's a more enlighten way to look at the situation. Let's look at it this way, if you're still managing to deal with your paperwork on your own by using a spreadsheet, and you're gonna absolutely crush it. When you start getting help from fresh books, you see fresh books has created ridiculously. Easy to use cloud. Accounting software for self employed. People who would rather spend their precious time building their businesses than dealing with mountains of paperwork. One thing. I really love about fresh books is that you can send clean and professional looking invoices in about thirty seconds. And with literally two clicks, you can set yourself up to receive payments online. We all like doing that. For your free thirty day, unrestricted trial, just go to fresh books dot com. Backslash might taught you an inter mytalk you and how did you hear about a section? You seem to be incredibly goal oriented Jemaine when you take on a role. It's all about putting numbers on the board. That's kind of what I feel like that's your thing. I want to know what sort of advice, you can give to my listeners on how they can set some concrete goals when they get a new job or the first ninety days in a new role you're going in. What are what is your main do when he's taking on a new role? I don't. I don't even I don't even won't even interview for gig. If I don't have a very like a specific goal in in mind, like when I came in to when I came into before going into the thousand Jim by the way, I hate to cut you off. But I think people don't realize that I won't even interview for a gig unless I have a specific goal in mind. Okay. I'm sorry. Want to say 'cause I don't, you know? I don't want to I'm going to give it my all. I don't want to shortchange anybody. So if I don't have a goal that's gonna that's gonna improve your your company, then you know, I don't need to be there. You don't need to have me there. So what is the what? But what I came into into BT. I looked at a look at the comms for number, and I looked at how much they were spending. Like what that budget was for the department year in it just like it completely. Didn't it didn't add up. So my goal coming. In was like, hey, you know, what I'm gonna get this? I'm gonna get this place to fifty million in calms for and I think at the time it might have been three or four million comes for. So two years two years in we looked up and I forget what it was. It was it was one of the it was one of those jokes. Remember, the B two was happening. But we hit eighteen million comes for. And you know, have been pretty pretty consistent around twelve thirteen fourteen million a month. But yet that was so I was able to hit the goal. I was able to surpass the goal and once you surpass in which is a past ago. That's that's sort of sort of a dangerous time to write Athens's. It's like, okay. Are you going to be complacent right or or are you going to set a new goal? That's gonna keep you interested in advance in advance his company. So once I hit that eighteen million. That was you know, that was kind of a scary time for me, right? The goal was done. So so now what new go. Oh, yeah. New the the new goal came came quickly. Okay. Google goal came quickly. I'd I'd I decided that I was going to make such a dent in short form and mid form. Digital original video content, and that that's the new narrative that I was going to be known for. And since then, I think we've we've done a pretty good job. We've established a lot of franchises. And we've raised our video views exponentially through these digital originals at two mazing rate, the bars, which I think I see all the time the one with Nidia, which I felt like I saw which was crazy amazing. But I I wanna know too from just like the other side of it. You're you're VP now, and you're looking out at people when somebody's starting to work for you in the first ninety days. What are you looking for what you know? 'cause I really really want to help people go in and make an impact I think, you know, saying that you just wouldn't even interview a lot of people. I don't even think people are interviewing with goals in mind. So what are you looking for in someone's first ninety days working for you in the first like, you know, I think you should not. You can't expect results from that person ace up. Okay. I think you have a you have a thirty to sixty day window where you know. It's just you just sort of like it's a learning curve, you learning a new system, you're learning new people because you might come into a situation where the people that you have working for you on this. They're not people that you hire. You don't know their capabilities another habits. So you need to learn all of that before you jump in and start getting into into the weeds. Like, you really have to know what you're what you're playing with. So I would say I would say taken those sixty to ninety days to really understand what you're working with before you start to communicate to your boss. Hey, hey. There is where I think I can take take this vertical or. Whatever it is. Based on the talent that is here hair their strengths air their weaknesses hair. Harris how I think I can help bolsa these weaknesses, and then we go from there. Nice. Okay. I can be wrong. But I feel like you come in and make changes you start things up and from our very limited personal interaction. I've never got the feeling that you have a sort of loud or robust like temperament, how do you get things done so Miot mildly? And so I feel like I feel like you are very mild. And I you know, I am not mild. And I know people that are around you are who are friends with you who are absolutely not mild. But you always seem to thrive as like the whitest person in the role that I have a lot of people who write me like, hey, I'm not the one who's gonna be the loudest. How do you? Maybe you don't feel this way. But how do you feel like you get so much done as mild as you are in Mike business would have demands this kind of tiger. Roar. Oh, man. That's the question. I don't I never. I never felt like I need I needed to be the loudest voice in the room. But I always like I needed to be the voice in the room with a plan. That's always the voice that I'm gonna be a hundred percent count on the fact that I am going to have a plan on I'm going to execute it. And I know all the players on the chessboard. No, we can do what? Ooh, I can assess that fairy very very quickly. And then within like within my team within my unit within whoever is reporting to me. I can be loud. I can be loud within that without physically physically having having to having to be allowed all I need. All I need them to understand. And to believe in is that, hey, this guy who's leading us absolutely has a beginning middle and end to get us where we need to be. And also this guy is very comfortable. He's very comfortable with like, not being the smartest person in the room. And I know everyone says that. In order in order to lead to a really effective leader, you really need to have people who was smarter than you within new unit. We just have to. Well, that's one of our listener questions is about. That's I'm glad you brought that up. So before we get into listener questions because those are gonna take a second one of the things that really surprised me as a young woman when I was coming up in PR was that you and Thuan were both married, and I just didn't know black men. Young black men that were just like Mary, and you guys are still married. I feel like your wife is a boss, and how do you support your wife while being equally ambitious? You know, I think a lot of us wonder how do you do that? And that's another great question. Get into. My wife. Uber boss. And I'm fine with that. I think the way the the way that we that we make it work is, you know. Find to run things by other. So for instance, she'll be she'll be worked. She's on. She's on the market end of things. So she'll be running on a digital campaign. And then show so run by me. I'll give you my opinion on it. If there's people that I think have have a better opinion. Then then I have of make sure to put her in connection with those people. So there's a you know because our worlds are a little a little similar feeling more with. More with like fashion and beauty than than what I'm you know, what I'm doing which is very much very much so around celebrity culture. I'm still able at the core able to help her tell a good story in you know, she does she does the same just the same for me outrun. My is by her like, okay. Maybe about it this way. Right. And I'll be like. Oh, all right. That makes absolute sense. I have a Allen example that. I think it's a Friday or Thursday. We were talking about we're talking about the webbie's. It's time to submit for for awards. And you know, I'm going over all the categories, and she's you know, she's done. She's done a ton of of Wehbe submissions. So she was like, hey, listen, rather than you do all of this guessing hair someone that I know the what can probably walk you through. What is the best category? So it's like man, that's like. Right. Right. Right. But I feel like versus having like a sort of ego. Like, but I just I feel like that's sort of who you are is that what what the thing that makes you okay to take my call is also the thing that makes you sort of a listener. And this probably has nothing to do with anything. But I feel like saying it. I'm one time I interviewed rich Dennis who I would say, I'm friends with who is the he founded shame moisture sold it and just bought essence and one thing he said that he feels makes him successful is his ability to listen to women. You know, he's like I listen to my wife like I can listen to win. And I think I thought that was was huge. Like, I feel like a lot of men six when they can listen to women just saying fellas. That's a great point. You know, the route would I look when I look back at it starting with kipnes the sufficiently. I've for the most part had women on my staff more than men when people hear that about king. They're always like what would. But there were a lot of limit on that staff. And as editor in chief vibe, most of most of my staff. Women hair currently BT. I would say ninety percent of my staff. Women. Listen, I I know. I feel like I'm sixty with the company of basically ninety seven percent women. You know, we have mostly women. I think women are mazing. I think more men need to realize that when hiring that women really either future as just took Noah yesterday. He wore his the future is female onesie because he needs to know that too. So I am I am going to. I got a couple of listener questions just to so will answer the outlet. You just tell us where we can find you and all that good stuff. But I want your your answer on this. Here's the back story at my question one year ago, I was laid off from my corporate banking job after five years of employment. Honestly, it was a blessing in disguise as I was miserable and constantly lamenting over not being able to pursue my passion of teaching group exercise full-time, I knew I will receive a decent severance packed severance package after the layoff. So I took that time to figure out a plan and try to teach fulltime make the same or more than I made at the Bank fast forward to present day in I'm doing it my leak I went from nine teaching nine to roughly seventeen classes per week. I wake up every day and get to dance exercise for a living. It is incredible. It is amazing Enron. Here's the but. It is also extremely exhausting at that. Someone like seventeen classes a week. It is extremely exhausting and nowhere near my salary at the bay. I was comforted by previous podcasts where you spoke about being willing to take a pay cut to pursue your passion. And while this is rewarding filling to my soul. It is devastating to barely make ends meet having high anxiety over not knowing if your paycheck is going to come in tied to pay your rent and other expenses. I haven't fill some regret over not saving money when I had the comfy bang job with the highest salary and benefits because destroy out row from you right now, I have picked up a side job working for one of the gyms front desk. And I it helps very little and I now work seven days a week as a result. It's an easy sit down jobs not physically tiring, but never having day off mentally makes me feel burnt out on a regular basis. I'm not even sure what my question is. Maybe just wanting feedback on how to keep a positive attitude and keep my momentum going every time. I think about going to get a regular job. I feel nauseous. It doesn't even feel like an option, but I would be lying. If I said, I did miss the stability and financial security of mile job any thoughts. You have. She says she's gonna get into personal training at some point. But any thoughts would be helpful? What do you think about this? I have not. But do you have any do you want me to go first? That's give my yes. The that was a lot. And I would say being happy with what you're doing as a profession. Is so key. It's so critical. If you're just doing a nine to five, you know, I don't care how much money you're making in. You're not into it. It is such a drag dry. So if this person just continues to do they're doing something that they're actually credibly passionate action. It about the rewards will come down the line. And there was something in there about. Working seven days a week and being being physically physically exhausted. Which is which is interesting because I feel like now this always on environment. Most people working seven days a week. And you know, whether it's physical exhaustion or mental a mental exhaustion. You know? I think we all experience getting get into that into that level. But you know, with all that said, I think if the continue with their passion, it will turn into turn into dollars, and and hopefully less dress down the line. I agree. And I think the next question would be like will win or what can I do, you know? And I always say like if you're not waiting and you're working and you're doing a great job. Someone is gonna notice. Right in though, seventeen classes in the more. You do people are going to notice in at some point your opportunity to maybe become a trainer regional trainer. The national trainer. You know? And then an opportunity, maybe you have crafted symbols that you want us are sharing your life with us on social, and maybe you're doing, you know, adding one more thing to your plate or just maybe recording some of this as your as your teaching on one of those seventeen classes, maybe you turn the phone or the camera on and do alive, you know, and those people start picking up, and I always feel like I think one of my friends told me this and I could be wrong, but they said two percent of your following. We'll pretty much buy whatever you do or sale. And so there's an opportunity to sort of pick people up along the way and invite the public onto your journey because there's someone who either wants to get fit with you or they're someone who is going to be inspired by your journey, and they're typically typically ten. To be a dollar or an opportunity there. I feel I think. That is a thing. That's that's great advice. You know, those whose someone who I always think about when I when I hear a historic like this. Nicole formerly of of Nicole bitchy. She had a business where it was. It was thriving. Choose putting a lot into it the type of content that she was creating it didn't at at some point it didn't fit right than sit right with her soul. And she chose to she chose to walk away from it completely brand herself. And really focus on the positivity. Of of entertainment. Now, you know is she is she making more issue making more she making less than she did when she was Nicole pitchy. I mean, probably, you know, maybe, but but I think she she feels her soul. Hustles associate was great doing what she's doing right now. Yeah, I talked to her about it. I interviewed her when she left the bitchy side behind and went on to do the new site. And when she went to do the new side that was going to be more uplifting and made her feel better. She was broke for a while, you know, and like we joke because I'm like, okay, you're broke but driving Range Rover. So it's a different kind of bro. Okay, bro. But it was just sort of like Vichy had roommates and stuff like that. And then it was at that point that will Packer came along and bought the site. You know, and so now she can really live this life of her dreams where she can go on competed all these bikini competitions that she loves on. But we had a really good long conversation about it. And she was the crazy thing was that. She was like my leak, I kind of looked to you disorder transition out of because I did the entertainment PR, and I just felt like it no longer serve me. So I moved on and I had a heart heart period, you know? But looking me now, you know, I was broke not in a Range Rover. But I think we all kind of have to when we're transitioning you have to dip down for a little bit, and it Latin it may be a year, maybe two, but it it it the tide changes. Oh, I mean social elegant elegant in obviously he's nowhere. There has been a win near being being broke. But I look at someone like Elliott Elliott Wilson end. The way he's be. I mean, guys chameleon. Able to adapt to whatever the technology is adapted telling stories for for new audiences. You know, he's one of those. I think he's one of the best the best examples of redefinition, redefining ura your your career everytime seen. He's he's hit a ceiling signs. He finds a way to take it. Take the step further. Yeah. Okay. This is our our last question. The next one. A question for you about adjusting, your friend, circle, you often speak about how we should be mindful of our circle we shouldn't be the best or smartest in our circle. The thing is how do you facilitate meaningful relationships with those who are better or smarter. If they already have their circle, circle or leveling themselves. Why would they invite you to stay in? I mean, I have a great personality all, but I'm not quick to believe that someone on a higher level in area. I aspire to grow into go beyond a surface level relationship when they already have their circles, this is particularly important for me because I don't necessarily seek to connect with people who have connections or knowledge or wealth, though, all of that is great. I wanna connect with those who have great intangibles like strong relational boundaries superb work ethic. Great communication skills in spite of ego. These are the areas I've growing into why was someone strong in that area. Wanna connect with someone weaker part of me wonders if I'm project. Acting because I no longer associate myself with those who for example have poor boundaries. I'm willing to share my journey. Ask answer questions even meet up, but I wouldn't necessarily bring them in my circle would love to hear your thoughts. Do you have any? Is the question is coming from someone who is trying to get into bigger circles or just? Well, she's trying to get she saying how do you get into a circle with smarter, or you know, people who may be further along than you. You know? So as like, you say, I shouldn't be I shouldn't be the smartest person in my group. But how do I even get in? How do I get into this Marta groups? It. I, you know, I think it's. Ethic. It goes back to the intern example that I just that I gave earlier on you. You really have to just take the leap of faith, and engage those people like what you like what do you have to lose? I'll I'll give them. I can I can think of example, that is true to me. I would say my my circle Mike, true course, Arkell is there's five six people, maybe probably five. To be to be a hundred hundred percent, honest, people who people who share we get together, we share ideas, we talk about what's going on in our industry in other industries talk about family, outtakes, everything. And what happens every now? And then is someone from from that circle will will find somebody that they truly truly truly believe in truly think that that they have the ability to make an impact within within industry, and they'll they'll just invite him. There's this one place in in Tribeca, we call it. We call it. Mike Roop calls at the bat cave in the reason, we call it. The back is because we know we will never see anybody in the industry there. It'll be ill just be us. But you know, someone will bring somebody into into that meeting. All right Bill. You know, they'll built the one everybody. I like, hey, you know, I know we're meeting on Thursday, I'm bringing such and such supercooled, dude. You know, I know you guys have maybe heard of him. But I think he's he or she is somebody who's going to do things. In the industry. So I think it's it's it's really just taking taking a leap of faith light. If you think someone is be beneficial. You that's in the biggest circle that is that you perceive as being smarter than you. Go though, toss it out person when liberals by I think if I if I would add like because I go out a lot of times. And I meet a lot of women on at the various speaking engagements that I have one of the biggest mistakes that I always feel like people make is that they'll just bum rush me and be like, here's my business card and that now what I do is. And I go, and this is a usually shocks them. And I go why are you giving us to me? Innocence like that's a slow now. Because because why are you giving this to me? And and you know, what ninety nine point nine times out of ten. They don't have a reason they just feel like this is the thing to do go out give somebody card now, we should be. We should be connected. And I was like that is that's not how you make meaningful connections with people not run up on somebody while I I'm here working, and you're giving it's like, I'm not I do you think I'm gonna remember you after I talked to, you know, maybe one hundred twenty five hundred women tonight, but what you can do. And what I always say is that I call it like my three run in rule is that run into me three different times. You know? That's how I kinda like when I wanted to start working in a hair industry. I run up on Lisa price, not giving her a business card, but I want her to see me supporting her, you know, hey, how you doing my league curl box. You know, I would just say that in after a. Few meetings than you remember somebody in there making waves and they've got your attention. She was like, you know, she stopped and had a conversation with me. And then you know, it's like she emailed me. And then she asked for my phone number. And then she'd text me in. It's like, you know, I kinda built the relationship like that. But every time people just give me a business card. I'm just like why are you giving us to me? Like, do you really think that I'm going to take this home in hit you up? I have. No, I don't even know who you are today and tell you know, I really want people, you know, there's a way and the other thing is that people you're always trying to level up with the person who's on the stage. But what you don't realize that the person you're sitting next to in the audience is going to be the person on the stage in the next couple of years. Absolutely now connects that person. Network within you within your own with the old group. You know, your your appears? But I like, I I remember there was a there was a conference that I went to. And I knew Marco because he was he was on on the panel and Margolin was he was the editor in chief of maximum at at the time. He just he just left lefty tails and. My my thinking was like how can I approach Mark after this is over and leave a Mark on him? And what I came up with is, you know, I'll speak to him about something in his magazine that that was memorable that I think he would make a connection with. So there was a small piece in the front of the book, and they had made they had made a joke with the the joke was it was a question and answer page. I forget what this section was called. But the joke was that. If you continue to masturbate, you will you will go blind. So so that was the question and then the answer which was amazingly clever. They started they started to answer. And then the words started to disappear like the shading of the words would get lighter and lighter and lighter as. As you read. And I was on my gosh, this is this is this is insanely historically. I reference that a reference that to him we both had a laugh about it. And we spoke for like a like a good ten minutes, and as I walked away Mark gave me his car. And said, hey, you know, keep in touch. Let's get together and have an have lunch. So sometimes so sometimes it might just be something. It might just be finding someone something that that person has done in the career something that is very recent that that they can they can connect with and they can see like, okay. Does does actually, you know, this woman is actually paying attention. Yes. And that I agree. That was the other thing too. Is that you know, let them know that you're keeping up with what they're doing. You know, like it just it's important. So I don't wanna hold you. Because I know Sunday's matter for all of us for those of you. I'm gonna get this. But we are doing this on the weekend Germain. We're can everyone. Find you in keep up with you. I am at Jemaine whole everywhere. Yes. Pretty simple. Any as a on Instagram Facebook Twitter assets? Thank you so much for doing this with major main. I cannot wait to share this with everyone while thank you. Appreciate it.
3 ways to upgrade democracy for the 21st century | Max Rashbrooke
"You're listening to ted talks daily. I'm your host. Hugh what's wrong with democracy. Why is it in crisis. Why do we feel so disillusioned by this form of government about which winston churchill famously said. Democracy is the worst form of government except for all those other forms author and researcher. Max rash brooke has an answer. His talk at ted ex auckland from twenty nineteen is a framework for understanding. Why democracy isn't working as it should and how we should update it. If you listen to ted business a few weeks ago you probably heard inciteful. Tedtalk from carla harris vice chairman at morgan stanley. She's responsible for improving access to capital for female and multicultural founders as well as increasing client connectivity. Through less than obvious means. That's the type of innovative thinking that's happening at every echelon of morgan stanley. So it's great news. That morgan stanley is offering thoughts on the market thoughts on the market offers concise insightful takes on current events and market implications all from a variety of voices at the company. Get a fresh perspective in three minutes three times a week. Just search thoughts on the market. Wherever you listen to podcasts. I want to talk to you today about democracy about the struggles that it's experiencing and the fact that all of us together in this room might be the solution but before i get onto. That owns. Take a little detour into the past. Place called the penick's which is where about two and a half thousand years ago. The ancient greeks ancient athenians gathered to take all the major political decisions together. I say the ancient athenians that was only the men actually was only free resident property ending men but with all those failings it was still a revolutionary idea that ordinary people were capable of dealing with the biggest issues of the time and didn't need to rely on a single supposedly superior ruler. It was you know it was a way of doing things. It was a political system. Was you could say democratic technology appropriate to the time fast forward to the nineteen th century when democracy was having another flourishing moment and the democratic technology that though using then was representative democracy the idea that you have to elect a bunch of people to look after your best interests and if you think about the conditions of the time the fact that it was impossible together everybody together physically and of course it didn't have the means to gather everyone to give virtually it was again a kind of democratic technology appropriate to the time fast forward again to the twentieth century. And we're living through what's internationally known as the crisis of democracy what i would call the crisis of representative democracy. The sense that people falling out of love with this as a way of getting things done that. It's not fundamentally working and we see this crisis take many forms in many different countries so in the uk. You see a country that now at times looks almost ungovernable in places like hungary and turkey. You see very frighteningly authoritarian leaders being elected in places like new zealand. We see it in the. Nearly one million people could voted at the last general election but who chose not to now these kinds of struggles these sort of crises of democracy many roots of course but for me one of the biggest ones is that we haven't upgraded democratic technology. We still far too. Reliant on the systems that we inherited from the nineteenth and from the twentieth century and we know this because in survey after survey people tell us they say that we're getting fish year of decision making power decisions happen somewhere else. They say we don't think the current systems allow government to genuinely deliver on the common good the interests that we share as citizens they say. We're much less differential than ever before and we expect more than ever before and we want more than ever before to be engaged in the big political decisions that affect us and they know that awesome of democracy have just not kept pace with either the expectations all the potential of the twenty first century. And for me. What that suggests is that. We need a really significant upgrade of our systems of democracy. That doesn't mean we throw out everything this working out the current system because we always need representatives to carry out some of the complex work of running the modern world but it does mean a bit more athens and a list victorian england and it also means a big shift towards what's generally called everyday democracy and it gets us name because it's about finding ways of bringing democracy closer to people giving us more meaningful opportunities to be involved in it giving us a sense not just part of government on one day every few years when we vote. But we're proud of it every other day of the year now that everyday democracy has to key qualities that obscene seen proof. They with time and again in the research that i've done. The first is participation. Because it's only if we as citizens as much as possible get involved in the decisions that affect us. The will actually get the kind of politics that we need. The will actually get our common good served. The second important quality is deliberation. And that's just a fancy way of saying high quality public discussion because over well people participating but it's only when we come together and we listen to each other. We engage with the evidence and reflect on our own views that we genuinely bring to the surface. The wisdom and the idea is to what otherwise remain scattered an isolated amongst us as a group. It's only in the crowd really become smarter than the individual so if we ask what could this abstract idea this everyday democracy actually looked like in practice. The great thing is. We don't even have to use our imaginations because these things are already happening in pockets around the world. One of my favorite quotes comes from the science fiction writer william gibson who once said the future's already here it's just unevenly spread so what i want to do is share with you. Three things from this unevenly spread future. That i'm really excited about in terms of upgrading. The system of democracy that we work with three components of that potential democratic upgrade. The first of them is the citizens assembly. The idea here is that polling company is contracted by government to pour up say hundred citizens who perfectly representative of the country as a whole certificate representatives of age gender ethnicity income level and so on and these people are brought together over a period of weekends or week paid for their time and ask to discuss an issue of crucial public. Importance the given training on how to discuss this. She's well with each other. Which will all know. Of course from our experiences valuing online if nowhere else is not an ability that we're all born with a nightly in. This isn't the same people who are also put in front of evidence and the experts and given time to discuss the deeply with a fellow citizens and come to a state of consensus recommendations so these kinds of assemblies have been used in places like canada where they will use to draw up a new national action plan on mental health for the whole country says the same that was used recently in melbourne to basically the foundation of a new ten year financial plan for the whole city so assemblies can have real teeth real the key element of the democratic upgrade participatory budgeting. The idea here. Is that a local council or city council takes budget for spending on new buildings new services and says we're going to put a chunk of this up for the public to decide but only after you've argued the histories over carefully with each other and so the process starts at the neighborhood level if people meeting together in community halls and basketball courts the trade offs saying well. Are we going to spend that money on a new health center or are we going to spend on safety improvements to local road people using their expertise in their own lives those discussions of the pushed up to the suburb award level and then again to the city level and in full view of the public. The public themselves makes the final allocation of that budget in the city where this all originated porto alegre and brazil. A place with about a million inhabitants. As many as fifty thousand people get engaged in that process every the third element of the upgrade online consensus forming in taiwan a few years ago when uber arrived on their shores the government immediately launched online discussion process using a piece of software called polus which is also coincidentally not coincidentally what the ancient athenians call when they are making the decisions and the way policy works in groups people together and the in using machine learning and a bunch of other techniques encourages good discussion amongst those participation. It allows them to put up proposals. Which are then discussed knocked back refined until they reach something like eighty percent consensus and in the time when case within about four weeks. This procedure said yielded six recommendations for how people wanted to see uber regulated. And those almost all of them were mmediately picked up by the government and accepted by october. Now i want these examples really inspiring people sometimes. Ask me why. I'm an optimist and allowed. Part of the answer. Is these kinds of innovations. Because i think they really show us that. We can't have a kind of politics which is deeply responsive to our needs as citizens but which avoids the payroll of the threats to human liberties the threats to civil liberties that authoritarian populism descends into the show us even though we live in what looks like quite a dark time. There are things that act to bet like emergency lighting guiding us to with something better and although these are all ideas from the western tradition they also be combined with adapted by indigenous traditions that also value ten taking speech and consistency in making and the thread that binds all these traditions together is essentially a faith in other people of faith and people's ability to handle difficult decisions effacing people's busy to come together and make political decisions intelligently in the police example we'll see government can be agile and nimble in the face of take disruption in the participatory budgeting. We see that we can build systems that a disproportionate used by poor people and which deliver infrastructure. There's basic quality than the traditional systems in citizen's assemblies the experts who observed them time and again say that in those good conditions people's ability to listen to others to engage with the evidence into shift from their entrenched views is consistently astounding and that's a really really hopeful finding. Because you know i think we we live at a time where you see right around the world. Huge suspicion of other people of other citizens huge doubts about whether people really able to be the burden of decision making that democracy places on them. But if you're worried for instance about with a lot of people out. There are misinformed or fallen prey to online propaganda. What better way to push back against their than by ensuring that the placed informs forms with a hefty come face to face with other people or at least being close virtual contact with a heft to justify their opinions have to deal with the evidence and are encouraged to stiff away from their prejudices. The canadian philosopher joseph heath says that rationality our ability to make good. Decisions isn't something that we achieve as individuals if we achieve it at all something we achieve in groups best hope of rationality is each other war to put the thing a different way. The problem with democracy is not other people is not other citizens. The problem is the situations in which they in which we all have been asked to do democratic work. The problem is the outdated democratic technology that we've all been forced to use and so what these examples show to me. The reason i find them inspiring is that i think they demonstrate that if you get the situations right if you get the technology upgraded than actually the things that we do when we come together as citizens can be astounding and together. We really can build a form of this genuinely fit for the twenty-first century. Thank you very much.
October 19, 2020
"Good. Monday morning I'm Anna Palmer and welcome to your politico playbook audience everything and I'm Jay, Sherman Speaker Nancy Pelosi. In Washington's most eager man Steven. MNUCHIN are likely to speak about covert relief this afternoon the ninetieth days since talks between the administration and Pelosi began back in July two things are happening right now. Republicans. On. Capitol. Hill are worried that MNUCHIN and Donald Trump will throw their concerns aside and agree to a two trillion dollar plus deal Democrats are wondering if the White House even wants to deal especially after MNUCHIN. Went on television last week and said, he would accept the Democrats testing plan but later struck fifty percent of. What Pelosi had drawn up also unsolved the child tax credit childcare funding since his policies on employment benefits, state and local funding and more tomorrow's the deadline before negotiators started turning their focus to crafting a lame-duck deal. We are still skeptical. They will reach a deal by Tuesday although it's certainly not impossible and if they do that would mean calling the house back this week Thursday Friday or yes Saturday the Senate will need at least a week to process this if they decide to take it up at all, that pushes a schedule up against election week not to mention that Senate Republicans are not in favor of the outlines of this bill. Trump seems to think that Republicans will come along. If a deal is struck, he said this in Renault Sunday we're talking about it. I think Nancy Pelosi maybe is coming along. We'll find out I want to do it at a bigger number than she wants that doesn't mean all the Republicans agree with me but I think they will in the end if she would go along I, think they would to on stimulus so. We'll see what happens. The evidence seems to suggest though Republicans are moving in the opposite direction finding it advantageous to dump trump and distance themselves from him I was Ben Sasse now it's John Cornyn he told the Fort Worth Star telegram about how he broke with trump on the deficit and border wall but kept his opposition private he likened it to try to change his spouse after marriage the Wall Street Journal editorial board has. This morning saying it's a mystery at this stage wide trump won't take no for an answer on a covert relief bill. They argue that a last-minute spending bill won't change the presidential race and won't help the economy in time for the election they're closing sentence a trump presidency with democratic house and Senate. Majorities would be very ugly for years fifteen days until election day the New York Times page a one must read looking at how trump runs the kind of campaign he likes but not the one he might need with his chief of staff, mark, meadows, drying blame from the president or his handling of trump's hospital stay and it seems unlikely meadows will hold his job election day. They report that some mid level aides and the campaign have started to reach out about jobs on Capitol Hill after the election under the assumption that trump will lose. The Times also has a piece up noting that trump isn't doing himself. Any favors talking about how embarrassing it would be to lose to Biden and further alienating voters by continuing to minimize the pandemic and attack women empower. The Post has a story about what every Democrat is talking about. Biden is leading but so did Hillary Clinton and for many Democrats deja-vu David ciders is up with a piece about how nagging unknowns or making Democrats sweat and trump upset. Dan Diamond has a scoop from under the Dome on Senate Democrats calling. For Free Cova testing across the capital The Times has a look at how the New York Post published. One Hundred Biden report amid newsroom doubts. The Journal says that a top White House official went to Syria for hostage talks about Austin Thais. Here's what's on tap for trump's Monday the president will depart Las Vegas and route to Phoenix at nine fifty. AM He will to Prescott Arizona where he will give a campaign speech at noon on Scott Regional Airport trump then part at one fifteen and travel to Tucson International Airport. He will deliver another campaign speech at three the present then depart at four ten and travel back to Washington. He will arrive the White House at eleven fifteen eastern time. On the trail Carla, Harris will travel to Orlando and participate in an early vote driving rally. She travel to Jacksonville in the afternoon and participate in a voter mobilization of it. Harris will also attend a virtual fundraiser in the evening. Doug empathy will host an early vote bus tour starting in Palm Beach County traveling throughout South Florida. He will travel to Miami Dade Palm Beach and Broward counties on the first day of in person early voting subscribe to play at politico dot com slash playbook and one last thing political has a new podcast launching October twenty first global translations host Luiza savage political reporters. Global experts take a hard look at how the pandemic is impacting supply chains and the everyday goods we rely on including P P E.
NPR News: 08-18-2020 6PM ET
"Live from NPR news. I'm Jack Speer it's day two of the virtual democratic national. Convention included in tonight's prime time program is former President Bill Clinton, and New York congresswoman Alexandra Occasionally Cortes, NPR's Don Gonyea has more. The theme for tonight's mix of live and pre produced segments is leadership matters organizers say that will provide plenty of opportunity to contrast former vice president, Joe Biden's approach to governing with that of president trump. President Clinton will speak he has been a fixture at conventions going back to nineteen eighty eight while this will be representative of Cossio. Cortes First Convention speech also this evening the roll call of the states elected officials we'll be joined by an array of American voters. fifty-seven states and territories to cast the delegate votes officially making Joe Biden that twenty twenty Democratic nominee Don gonyea NPR news on the centennial anniversary of the Constitutional amendment giving women the right to vote a group of female attorneys. Generals announced they are backing Joe Biden's Presidential Campaign Group of Democrats includes current and former ages from twenty four states and territories. They stated history was made with the nomination of Senator and former California Attorney General Carla Harris to be Biden's running-mate. For the past three and a half years, the Republican led Senate Intelligence Committee has been investigating Russian interference in the two thousand sixteen election panels. Now published the fifth and final report in it's probe NPR's Tim Mack explains the bipartisan report draws a direct link between the head of trump's campaign. In Russian intelligence officer, the Senate Intelligence Committee's Final Report says that in Twenty Sixteen former trump campaign chairman Paul manafort worked with a Russian intelligence officer named Constantine. Kalinic the report says Manafort shared internal campaign information with clinic suggests pulling data and the campaign strategy to beat Hillary Clinton. The committee also obtained evidence that clinic may have been related to the Russian government's hack and leak operations that led to the publication of stolen Democratic Party emails. The committee also found President Vladimir Putin personally ordered the hacking and leaking of those emails development that up ended the two thousand, sixteen presidential campaign in trump's favor. to Mac NPR, News, Washington Post Master General Louis to joy announced today he is hauling some operational changes until after the November election or to avoid any appearance of impropriety announcement been coming after some. Democrats claimed changes at the post office resigned undermine mail in voting and some states were planning to file lawsuits. Joyce said he'll spend his initiatives until after the election avoid even the appearance of impact on election mail joys trump Allahu to control the post office in June on Wall Street. Today, the Dow is down sixty six points. The Nasdaq up eighty one, the SNP closed at a new record high up seven points. This is NPR. Resurgence in Corona Virus Cases Francis now, mandating the wearing of masks in all workplaces from the central business districts in. Paris. To factories out in the provinces government hoping to be able to contain growing levels of infection without having to totally shutter the economy hasn't been makes France one of the few countries requiring universal mask-wearing. President Trump will pardon famed suffrage Susan B. Anthony on the one hundredth anniversary of the nineteenth amendment will help guarantee women. The right to vote is Randy Gordon from W.. X.. In Rochester reports, the move is being criticized in the city where anthony lived for many years Anthony was arrested in eighteen seventy two for violating a law that allowed only men to vote at that time. But speaking in front of the Rochester House where Anthony lived for many years and New York Lieutenant Governor Kathy Hotels said that if Anthony rely today, she would decline the president's offer Susan. Anthony is calling us right now saying I don't. WanNa be pardoned. I was proud to be arrested. I was arrested in this very home focal says Anthony celebrated her arrest and noted that although convicted she never paid her fine for NPR news. I'm Randy Gorman in Rochester was home were busier in July the latest sign. The housing sector appears to be emerging as one of the few areas of strengthening economy suffering during the coronavirus pandemic Commerce Department says housing starts were up twenty two point six percent in July the biggest gain since two thousand, sixteen home building was up in every part of the country last month with the biggest increase coming in the northeastern United States. I'm Jack Speer NPR news.