35 Burst results for "Fifteen Million Dollars"
How Big Oil Misled The Public Into Believing Plastic Would Be Recycled
"How did millions of Americans come to believe that most plastic would be recycled when that's not actually true Laura Sullivan is GonNa take the story from here. Okay, it seemed like a good place to start was the plastic industry they make the stuff. Did they know the truth about recycling plastic? I headed to one of the birthplaces of plastic plastic comes from oil. But really comes from the dupont chemical company and some of the plastic industries old records are housed in the Hagley Library. It's this stone building on the grounds of the first dupont family home in Delaware. This is a place that actually used to store sodium nitrate back when Dupont made gunpowder not plastic. There's an archivist with a bow tie a handlebar moustache named Lucas Clawson, and he looks like someone would make cocktails. Lucas wheeled out a cart of boxes. Thank you. Files that documented the discovery of a chemical marvel that changed the world, a product that looked like glass but break a product that could also look like lightweight fluff but keep things hot called Styrofoam and incredible new film that can preserve food for days called. Saran. Wrap there were a couple of clues about recycling inside the boxes from the industry's most powerful lobby group at the time the Society of the plastics industry their job was to lobby for the big oil and plastic companies. So think Exxon Chevron Dow Dupont. And there's this one memo from one, thousand, nine, hundred, seventy, three, the. Movement is just being born, and one of the top people in the plastics industry is talking about how the cost of sorting plastic is high but it seemed like a lot of the documents were were missing I find reference to a memo a report, but then I noticed that someone had drawn a line through it Lucas. Can I ask you a question absolute. Okay. Why? In this section are all. These APPS. So many of these. Cross out because those records are no longer. Here anymore day or not where did they go the society of the Plastics Industry Astra them back think they really yes is an unusual. That doesn't happen often. Do you do know why they took them. Did they say? I, do not know. Okay Of course, there are all kinds of reasons why an industry lobbying group might want. It's records back I did call society the plastic folks and ask them if I could see the records they took they said No. So I headed to another library this time at Syracuse University and they're buried in its tax, our boxes of files donated from an industry consultant. Actually the industry consultant died in the why found the boxes and gave them to Syracuse and inside these boxes. I found what I was looking for a report was sent to top oil and plastic executives in nineteen seventy three. It says, recycling plastic is nearly impossible. There is no recovery from obsolete products. It says recycling is costly sorting. It is infeasible plus it says plastic degrades every time you try to reuse it. So the oil in plastic industry new, they've known for almost fifty years. and. Then I found more confidential memos in meetings echoed decades of this knowledge insight thousands of pages of courtroom discovery. There's a speech from an industry insider in nineteen seventy four when it comes to recycling large quantities plastic, it says there is quote serious doubt that it can ever be made viable on an economic basis. Now. Okay. Sure. Anyone can take something plastic melted down and make something else. But what these documents are saying is that it's expensive, it's time consuming it's chemically problematic and it's just cheaper and easier to make plastic out of new oil instead of plastic trash there are all kinds of names in these documents men who have never spoken publicly before and there was one name I kept seeing over and over he. was, giving speeches at fancy hotels, hosting conferences and Berlin. Phoenix, they called him a bigwig. He was the industry's top lobbyist. Larry Thomas this is the man I had to find but do you know how many Larry Thomas's there are in the United? States. Thousands I'd call say are you the Larry Thomas used to work in plastics? Are you leery Thomas who used to be president of the Society of the plastics industry? And then finally, I'll prompt Merrin the plastics industry no getting around it the BIGWIG himself I'll walk. Do that's for sure. Yeah. My personal views certainly didn't always job with. US I had the quake as part of my job. That's the way it was there. He's retired now on the coast of Florida but I told him I've been reading all about his exploits in the world of plastic. Where would the offices the officers were? What would you think they would be K. Street yes. Twenty Five K. Street Casey was the heart of lobbying in Washington and it was in those offices at top executives in the world's most powerful oil and plastic companies met they had meeting after meeting about a little problem they were having there was just too much plastic trash consumers didn't like it. In one of the documents I found from nineteen nine, hundred nine Larry wrote the top oil executives at Exxon Chevron, Amoco Dow Dupont proctor, and gamble in a bunch of others he wrote the image of plastics is deteriorating at an alarming rate. We are approaching a point of no return. The classic. I was under fire. We gotta do. What it takes to take the heat off. Because we want to continue to make classic equality, they wanted to keep making plastic but the more you make the more plastic trash you get and the obvious solution to this is to recycle it but they knew they couldn't remember it's expensive. It's a great. Discussion about how difficult it was to recycle. They knew that the infrastructure wasn't there. So really have recycling amount to a whole lot. So they needed a different plan. Larry Decides to call a bunch of meetings at fancy hotels. He summons the Society of the plastics people executives Larry doesn't remember the specifics of each particular meeting but one of his deputies at the time Lou Freeman he remembers you could. Get. Back all the layers of my brain. Lou, remembers a bunch of meetings the basic question on the table was. You guys you're our trade association in the plastics industry aren't doing enough. We need to do more. This one dupont executive was telling Lou. It's your job to fix plastics imaging problem. So what do you need? You said, I think if we had five million dollars. which seemed like a lot of money. If we had five million dollars we could. We could. We could solve this problem. And My boss said in response. If you add five million dollars, you would know how to spend it effectively. Well, they came up with a way to spend five million dollars that and a lot more I. Remember this. This is one of these exchanges that sticks with me thirty five years later however long it's been. Anna was You know what we need to do is advertise our way out of it. That was the idea thrown out. The industry decided to advertise its way out of a can't recycle it problem. The possibilities off plastics plastics. From dense. Touted the benefits of a product that after it was used for the most part was headed to a landfill incinerator or even ocean. Look empty yet it's anything but trash it's full of potential. These commercials carried an environmentalist message, but they were paid for by the oil and plastic companies eventually leading to fifteen million dollars a year industrywide ad campaign promoting plastic. So I asked Larry why why spend tens of millions of dollars telling people to recycle plastic when the new recycling plastic wasn't going to work? and. That's when he said it. The point of the whole thing if the public thinks so recycling is working. Then they're not going to be concerned about the environment and if they're not concerned about the environment. Though keep buying plastic it wasn't just Larry in lieu who said this I spoke to half a dozen top guys involved in the industry at the time who all said plan was unfolding and it went beyond at the industry funded recycling projects and local neighborhoods expensive sorting machines that didn't make any economic sense school recycling contests. All of this was done with great fanfare. except I decided to go track down almost a dozen of the industry's biggest projects like the one where they were going to recycle plastic and national parks or the one that was going to recycle all the plastic and school lunches in New York they all failed and disappeared quietly but there was one more part of this campaign, the final piece that did stick around. That recycling symbol with the numbers in the middle this symbol has. So. Much confusion about what is and is not recyclable in the plan to stamp it on every plastic item popped up a lot in the documents I learned of a quiet campaign to lobby almost forty states to require that every single plastic item have this symbol stamped on it. Even if there was no way to economically recycle it, I should note that some. Environmental is also supported. The symbol thinking would help, separate and sort plastic but the industry knew the truth the symbols were causing problems. Warm report told executives in July nineteen ninety-three that the symbol is being misused. It's creating quote unrealistic expectations about what plastic people can recycle. It's being used as a green marketing tool, but the executives decided to keep the symbol anyway. I did reach out to plastic industry folks and they said that the symbols were only meant to help sort plastic and that they were not intended to confuse people but the symbol in the ads in the projects, all of this basically convince people Larry says the idea that the vast majority of plastic can be recycled was sinking in. Say that. After a while the atmosphere seems to change I. Don't know whether it was because people thought that recycling has solved the problem. was that they were just so in love with plastic products that they were willing to overlook the environmental concerns that were were mounting up. It's been thirty years now since most of those plans have been put into place and the public's feelings about plastic have started to shift again, people are reading stories about oceans choked with plastic trash and trace amounts of this stuff inside our bodies, and once again, people are wanting to ban plastic and the survival of the oil companies is at stake.
Dwayne The Rock Johnson is Buying an Entire Football League
"For many of us, Monday nights sieve Longman, Monday, night football. So today's a good day to consider a shakeup in the football world. The potential revival of a would be competitor to the National Football League last week actor and former pro wrestler Dwayne the Rock Johnson with other investors bought a start-up Football League called the xfl this take some explanation especially to those who aren't avid sports fans. Let's start with the xfl contrary to popular belief. The NFL doesn't football is just had a monopoly for the most part for so long that most. Most people consider it an institution for the last couple of decades though rivals have attempted to build new leagues to compete with the. NFL. The XFL is one of those its roots began way back in the year two, thousand when World Wrestling Federation chairman. Vince. McMahon decided to build a league that could compete with the NFL NBC Cohen the League and planned to carry its games the XFL plan to extend the football season by playing games from just after the Super Bowl in February. Until late April. Now, at the time league owners, hopes were high that the Saturday night games could Wu and elusive audience TV. Teenage boys according to CNN. Vince McMahon. WWF had been almost magical in its ability to appeal to twelve to twenty four year. Old Males who typically don't stay home watching TV on Saturday nights. The xfl hoped McMahon could bring that WWF formula to football and win that desirable TV audience, and for one brief moment, it looked like their hopes were within reach the first game in two thousand, one drew more than fifteen million viewers a massive audience. That gold ring looked close and yet it turned out to be so far away as the season wore on audiences spell like a botched handoff after that single season, the xfl shutdown. Sometimes in life timing really is everything, and so it goes for Vince McMahon who decided that twenty twenty would be the right time to revive the xfl it launched in February, pitching the Seattle dragons against the DC defenders teams played five games among both players and owners. Optimism rained TV audiences varied by geography, but were decent enough that by March believe was well into planning the twenty twenty, one season. And then Kobe came along the League canceled the season March twentieth less than a month. Later, the XFL filed for bankruptcy sports writers added the xfl lists of other WanNa, NFL competitors who'd also tried to make a go of it over the years. The XFL seemed to be just another failed startup, but perhaps they declared the league's death too soon. Let's get back to Dwayne Johnson better known as the Rock Johnson actually started his career as a football player, but never made it to the NFL instead, he joined Vince McMahon's wwf where he quickly rose to superstardom before retiring to become an actor, he's now the highest paid actor in the world according to Forbes. With his business partner Danny Garcia who also happens to be his ex wife, the rock led the fifteen million dollar purchase of the. xfl. Out of Bankruptcy Sports Management Company redbird capital as a third partner. Johnson says the purchase was actually Garcia's idea she loves football and when the XFL declared bankruptcy, she saw their chance to own not just a team but an entire league not to get too grand about this. Consider that the salary of a single NFL football star say. Dallas Cowboys quarterback Dak. Prescott is thirty, one million dollars. That's more than double what the partners paid for the xfl which has eight teams. Still, the deal made headlines. Perhaps it's a bit of hopeful light entertainment amidst the onslaught of grim. News in two thousand, twenty, Garcia. Johnson. Say They plan to produce multimedia content for fans year round, not just during the active spring season at production time, they hadn't yet said when the League will start to play again.
Dwayne "The Rock" Johnson buys XFL for 15 million dollars
"The XFL, trying to go again, a group including actor former WWe star Dwayne Johnson. The. Rock has agreed to purchase the xfl approximately fifteen million dollars. The XFL declared chapter eleven, bankruptcy April thirteenth, and so who knows maybe the rock make it work? In case you want the numbers, the League average one point nine, million TV viewers per game in two, thousand, twenty, and generate nearly twenty million gross revenues in. In Two thousand twenty, I know you watch more than I did Mike and you thought it was it was good out of the gate at least. What do you think XFL? Can it work again I? Think it can I mean look I think there's going to be more bigger player pool than ever before you know and and we should have some kind of according to Dr I, call him. You know from the Godfather according to Falconry. Dr, Don. According to Don Uchi, we should have some therapeutic or some cure by then. So we can have people in the stands and we can do all that you know I think it's a hell of a deal for him. Now redbird capital partners, they they have an option for seven and a half million of the fifteen. So I think this is all going through and just reading a lot of stuff online today I. Mean, this is a hell of a deal to pay fifteen million dollars to basically get all the all the hardware. Think about the equipment that they're going to get for fifteen million, the video machines, the uniforms, the all this stuff that you could basically would have cost you just it's worth. Sixty, one, million dollars. You get fifteen, it's pretty good deal. Yeah. Johnson as investors include his business partner Danny Garcia Garcia will have an executive position the league and said that both she and Johnson, a hands on approach run the league join John. This is played the you he played in the NFL and he certainly knows. Out of market himself. So curious to see if that can work for the
Dwayne 'The Rock' Johnson buys XFL for $15 million with partner RedBird Capital
"The Rock Johnson just kicked down fifteen million dollars for this -rageous happened right now, Mona The rock just bought some of the fifteen million dollars. He bought the xfl he bought the X. F.. Portico and a couple other news outlets profootballtalk one other one of the ones that are running with this. And he kicked down they'll pay a total of fifteen million dollars splitting the price equally with who else is he buying it with with? Your Boy Vincent Man Oh Heaven Vincent man going into into together. They're going to basically reform. triangularly and bring the xfl back and I'm thinking that you're commissioner, your voice, your face, your you know you're the guy that's going to sell it and bring it in resuscitate. This is going to be Wayne the Rock Johnson. that. That's a that's a good combination like it Russ you. Don't to like I don't hate the Rock I just think that he should do more in his. Ready to run through his social media for the next few years my God it's all we're gonNA hear Tequila in football hair. Better than. that. COMB. Song. Tequila. Hit Wow what he is he doesn't do things haphazardly. You know like he puts a lot of thought into everything that he does. Something partner with him is actually redbird capital, Dwayne the Rock Johnson and redbird capital of purchased on. This is hours before it was went to auction. He was GonNa go to oxygen today they bow. Press the buy it now price at fifteen million dollars and grabbed it and So I guess it was thirty they're splitting the difference I guess pay. PORTLAND. For we have a pandemic. Was it doing okay. Yes. It was. It was there was doing it was. Okay it was doing. All right. You had a couple markets. The Seattle team was doing really well I think the Saint Louis team was doing really well. So there was a couple of pockets of our teams that were doing really phenomenal. The product didn't look bad. Bad and then they had the you know they had the partners broadcast partners. It's I, mean you know if you're trying to usher this league in and it's a very expensive to try to start obviously professional football league there's been a ton of these guys are trying to start this. And so when you know pandemic hits and you're having to shut down operations in. Many things are going to survive that and especially Startup League. Yeah you get rock involved a lot of people like him her. I'm trying to think if it's you know. Everyone is running with Tequila and football.
Biden takes aim at Trump's coronavirus response
"Seems hard to believe, but as of today we're now within one hundred days general election, which falls on November the third today, the Biden campaign rolled out a new ad that takes aim at the president's stumbling response to the corona virus. The AD is part of an almost fifteen million dollar ad buy in six states at the president one in two thousand, sixteen, Florida, Arizona, Wisconsin Michigan North Carolina and Pennsylvania. The president's failure to address the pandemic continues to hurt him in poll after
Capital Allocation with Blair Silverberg and Chris Olivares
"Blair and Chris Welcome to the show. Thank, you good to be here. We're talking about capital allocation today and I'd like you to start off by describing the problems that you see with modern capital allocation for technology companies. I'm happy happy to start there. So I think it might be helpful to give. The listeners, a little bit of our backgrounds so I was a venture capitalist at draper. Fisher Jurvetson for five years I worked very closely with Steve. Jurvetson and we were financing are very MD intensive. Technology projects that became businesses things like satellite companies companies that were making chips to challenge the GP you new applications of machine learning algorithm so on and so forth and I think the most important thing to recognize is that the vast majority of technology funding does not actually go to those kinds of companies. The venture space is a two hundred fifty billion dollars per year investment space. The vast majority of the capital goes to parts of businesses that are pretty predictable like raising money in in investing that in sales, marketing and inventory or building technologies that have a fairly low technical risk profile, so the vast majority of tech companies find themselves raising money. From a industry that was designed to finance crazy high technology risk projects at a time where that industry because technology so pervasive you know really do the great work of of many entrepreneurs over the past twenty to thirty years, technology is now mainstream, but the financing structure to finance businesses not has not really changed much in that period of time. Yeah, and then I guess I'll talk a little bit. My my background is I came from consumer education sort of background, so direct to consumer, thinking about how you use tools and make tools that ingrained into the lives of teachers, parents students I was down in the junior class dojo before starting capital with Blair. We were working on the Earth thesis He. He was telling me a lot about this. The the date out. There exists to make more data driven in data rich decisions. How do we go software to make that easy to access in self service and sort of servicing the signal from the noise, and we kicked around the idea and I thought that they were just a tremendous opportunity to bring. What Silicon Valley really pioneered which is I think making software that is easy to use in agreeing to your live into kind of old industry fund raising capital Haitian. The kinds of capital allocation that exist there's. And debt, financing and different flavors of these. Of these things say more about the different classes of fundraising in how they are typically appropriated two different kinds of businesses. So. You have the main the main groups you know. Absolutely correct, so there's. Equity means you sell part of your business forever to a group of people and as Business Rosen succeeds. They'll get a share in that. Success and ultimately income forever. Debt means you temporarily borrow money from somebody you pay them money, and then at some point in time that money's paid back and you all future income for your business, so equities permanent, not permanent. If you think about how companies are finance like. Let's take the P five hundred. About thirty percents of the capital that S&P five hundred companies use to run. Businesses comes from debt. In the venture world that's remarkably just two percent. And the thing that's crazy is this is two percent with early stage seed companies, also two percent with public venture, backed companies in places like the best cloud index, which is like a one trillion dollar index of publicly traded technology companies started their life, and in with injure backing many of them SAS companies, these companies, also just two percent finance with debt, but nonetheless within these these classes, the reason it's obviously economically much better for a business and pretty much every case to finance itself with debt because it's not. Not It's not permanent, and it can be paid back. It's much much cheaper to use debt. That's why you buy a house with a mortgage show. You know you don't sell twenty percent of your future income forever to your bank help you buy a house, but the reason that people use equity comes back to the risk profile so just like. If you lose your job and you can't pay off your mortgage. The bank owns your home. Same exact thing happens with debt in so restorick Louis, if there's very low. Certainty around the outcome in typically early stage investment you're you're doing a lot of brand new are indeed you have no idea if it's GonNa work you cope. You know over time that you'll be successful, but there's really quite a bit of uncertainty equities a great tool because you're. You'RE NOT GONNA lose a business, you know everybody can basically react to a failed. Are Indeed project. Decide what to do next had saints. Equity is kind of the continent tool for high technical risk, high uncertainty investments, and then debt is basically the tool for everything else, and it can be used as most companies do for. Ninety percent of The places that businesses are investing so if you're spending money on sales and marketing, and you know what you're doing and you've been running campaigns before. That were successful, very. Little reason you should use equity for that if you're buying inventory if you are a big business that's. Reach a level of success that on. Means you have a bunch of diversified cashless. Coming in businesses might take out dead on business kind of overall, so it's less important what specifically you're using the money for, but it's important to recognize that most companies are financed roughly fifty fifty equity versus dead, just just intra back companies that. That are kind of uniquely Equity Finance. Scaling a sequel cluster has historically been a difficult task cockroach. DB Makes Scaling your relational database much easier. COCKROACH! DVD's a distributed sequel database that makes it simple to build resilient scalable applications quickly. COCKROACH DB is post grass compatible giving the same familiar sequel interface that database developers have used for years. 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It's often originating in a large source, a sovereign wealth fund or family office in it's being routed through something like capital allocators cater like a venture capital firm for example or a bank. How does this capital get allocated to these smaller sources? What is the supply chain of capital in the traditional sense? You know it's kind of funny to think about capital and things like the stock market in the form of a supply supply chain, but this is exactly how we think about it so at the end of the day. Capital originate. In somebody savings, basically society savings right you. You have a retirement account or your population like you know in in Singapore and Norway with a lot of capital, it sort of accumulated from. From the population and these sovereign wealth funds, or you're an endowment that's you know managing donations of accumulated over many many years, and ultimately you're trying to invest capital to earn a return and pay for something pay for your retirement pay for the university's operation so on so forth so that's Capitol starts, and it basically flows through the economy in theory. To all of the economic projects that are most profitable, inefficient for society, and so, if you step back, and you think about like how how is it that the American dream or the Chinese Miracle Happen? You know in in both of those cases different points of the last hundred years. Why is it that society basically stagnated? You know the world was a pretty scary. Scary place to live in up until about seventeen fifty, the industrial revolution started. Why is it that you know basically for all of human history? People fought each other for food and died at the age of thirty or forty, and over the last two hundred fifty years that it's totally changed. It's because we have an economic system that converts capital from its original owners. Diverts it to the most productive projects. which if they're successful, replace some old more expensive way of doing something with newer better way and so I think when when I described that like you know I, think most people can step back and say yeah, okay I. kind of see how capital flows through the system, it goes automatically to someone making an investment decision like a venture capital firm ultimately gets into the hands of the company company decides to invest in creating some great product that people love. Let's. Let's say like Amazon and then everybody switches from you know buying goods at some store that may or may not be out of you know may or may not being stock to the world's best selection of anything you'd never wanted. The most efficient price that's society gets wealthier basically through these these kind of steps in these transformations, but it's asking if you step back and think about it like nobody actually thinks it's processes as efficient as it could be like. We asked people all the time. People were interviewing journalists companies. We work with sewn. So how efficient do you think world's capital allocation is? I've never met a person that says it's pretty good. You know we're like ninety percent of the way there. In fact, most people think it's pretty inefficient. They think of companies like you know we work, and some of the more famous cases lately of of Silicon. Valley back businesses that that totally. underwhelmed disappointed. Their initial expectations and I think most people admit that the efficiency of capital allocation is either broken or nowhere close to achieving its potential, and so we basically we'll talk more about our technology and how we do we do. We basically think of this problem our problem to solve. There's an incredible amount of Apache inefficiency in how data that goes from a project or a company, ultimately funneling up to an investor flows, and so you know it's hard to place blame because there's so many people in the supply chain, but. But I think it super clear that if it's difficult to measure whether or not a project or a business is good at converting capital into value in wealth, and you know products that people want, it's nearly impossible for society to become really good and efficient at allocating its capital, so we're we're here basically to make the data gathering data transformation visualization communication of what's actually going on under the out of business as efficient as possible and you know from that, we thank some great things are going to happen to the economy. Goes a little bit deeper on the role that a bank typically plays in capital allocation. If you think about our bank works like let's take. Let's take a consumer bank that most people think about you gotTA checking account. Right, now you've got some money in that checking account. That account actually takes your money or dot and most people know this your dollars sitting in that account. You know just waiting around. You'd withdraw them. Your dollars are actually rolling up into the bank's treasury. There's somebody at the bank working with the regulators to say hey, how much of this money can we actually put into things like mortgages, commercial loans, all of the the uses of capital that society. Has In some some effort to. To, move the world forward and make the economy efficient, and so those deposits basically roll up into a big investment fund, and there's ratios that regulators set globally that say those dollars needed to be kept in reserve, versus how many are actually able to be invested, but with the portion that's able to be invested. It's there to fun. You know building a house to fund a business back -Tory to fund sales and marketing or inventory procurement for some other business, and so a bank was was basically the original investment fund, and a bank has unlike venture funds and other sources of. We typically think private capital. The bank has tricky. Problem were any moment all of the depositors holding the checking accounts could show up and say hey. I want my money back and so that's why banks have to deal with reserving capital predicting the amount of withdraw and classically everybody wants her money at once at the worst possible time, and so banks have to deal with quite a bit of volatility now if you take an investment fund on the other hand. Totally totally different structure, so your typical venture fund will have money available to it for a period of ten years from you know typically these larger pools of capital. We talked we talked about so very rarely. Individuals are investing retirement savings in venture funds, typically sovereign wealth funds down that's. Basically pools of that individuals capable. Win One of these funds makes a commitment to a venture fund. It'll say you've got the capital for ten years. You've gotta pay back. You know as investments exit, but other than that will check in ten years from now. We hope that we have more than we gave you the star with and there there's no liquidity problem because the fun has effectively carte blanche to keep the money invested until some set of businesses grow and succeed and go public and make distributions so one thing that's fascinating. The Tappan in the last twenty five years is private capital capital in the format of these kinds of funds. Have just grown tremendously and so today. There's a little over five trillion dollars. Of private capital being allocated in this way to think like buyout funds venture funds so on and so forth. Funds don't have the liquidity problems of banks. They can make much longer term for looking investments. This is created tremendous potential to make the economy more more efficient by taking out the time spectrum. You know this is why venture investors can do things like finance spacex or Tesla. Really. Build fundamental technologies in the way that a bank never could so this is an amazing thing it. However leads to a very long. You DAK cycle, so the incentive goes down when you take out the time line over which investment needs to pay back. To carefully monitor and understand what's going on in the business day today, so it's pretty interesting thing about the different pools of capital. There's not not to. Make it sound too confusing, but I think everybody will admit that the financial markets are incredibly diverse complicated we track basically about fifteen different kinds of capital, and they're sort of pros and cons with each one, but you know a bank is one. A private fund is wanted insurance companies balancing as another. You've got things like ETF and public vehicles that hold capital so there's quite a bit of complexity and the the structure of the financial markets. All right well. That's maybe the supply side of Capitol on. All kinds of middlemen and all kinds of different arrangements, but ultimately there is also the demand side of Capitol, at least from the point of view of companies getting started which is. Startups or computer in later stage with the maybe they're not exactly considered startup anymore, but they're mature. These companies have models for how they are predicting. They're going to grow, but oftentimes these companies are very. Lumpy in terms of how their their revenues come in how closely their predictions can track reality. So how do technology companies even model their finances? Is there a way to model their finances? That actually has some meaningful trajectory. Sure so first. Companies you know need need a base think of all the places that they're spending our money and. We're pretty. We Do I. Think a pretty good job of organizing this and making it simple so when we look at companies and we can, we can talk more about how the the cabinet machine operates, but when we look at companies, we basically think they're only a handful of places of money. Get spent you spend money on. Short term projects that you hope proficient things, sales and marketing. Houston money on paying for your sources of financing like paying interest on debt, making distributions to your investors, and then you spend money on everything else and everything else can be designing software building products on, and so forth, and so if you break the demand for capital down into just those three buckets. And look at them that way. Some pretty interesting things happen. The first is for the short term investments that you hope productive. You can track pretty granular nearly whether or not they are, and we'll come back to that. For paying back your investors, you sort of know exactly how much you're paying your investors so a pretty easy thing to track, and then for the operating costs you know most people will help us. Apax, that you're paying to keep the lights on things like Renton the your accountants, the CEO salaries on and so forth these are these are table stakes expenditures. You need to stay in business and so. Amongst each of those three things, there's different things that you wanna do to optimize and I'm happy to go into more detail sort of go through each one. If you think that'd be useful. Yeah Bliss a little bit more about about how these companies should be a modeling, their revenues are that is meaningful to model their revenue so that you can potentially think of them as targets for for capital allocation so. If we think about. Understanding what company might be a viable recipient of capital? How can you accurately predict the trajectory of that company, or or do they? Would they present a model? Would they develop a model good through a little more detail? How a company would serve justify? It's need for capital. So typically what what most companies do and this is not terribly useful or accurate, but I'll tell you what most people do I mean by the way like how central the entire economy predicts, predicts demand for capital works like this. Companies take. Their income statement on their. Balance Sheet historically. And they they basically have this excel file got a bunch of you know, rose and have different things like my revenue, my you revenue that sort of linked or my expenses that are linked revenue Mukasey could sold so on and so forth, and they grow each of those rose by some number that they hope to hit so if you want your revenue to double next year, you'll say my revenue one hundred dollars today I wanted to be two hundred. Hundred dollars twelve months from now I'm just GONNA draw a line between those two points and every month. There will be some number that's on that line, and that's why monthly revenue I want my expenses. You know everyone knows. Expenses are going to have to go up if my revenue goes up but I don't want them to go up as much as my revenue, so I'm going to draw a line. That's you know somewhere less than a doubling. and. You pull these lines together on one big excel file and there's your you know they're your corporate projections. In general, this is true for big companies small companies, but that's not actually how. Company revenue works because if you go back to the three categories, we talked about before, and you just focus on the one that talks about the short term investments. The. Way Company Revenue Actually Works is a company this month. Let's say they spend one hundred dollars on sales marketing. Well. They're hoping to get a return on that sales marketing, and so they're hoping that in the next you know six months. That's paid back. Twelve months that's paid back. You can actually track every time they spend money on sales and marketing. how quickly it gets paid back so it's that level of precision that can accurately predict revenue, and so what we do is we basically just get a list of every time? Money was spent on one of these short-term investments, so you sales and marketing for for an example, and then we get a list of all of the revenue that was ever earned. And we attribute between both of those lists causing effect. And we do that using a bunch of techniques that are pretty commonplace in your typical data, company or machine learning company. We use some math things like factor graphs. We use simple kind of correlations. We have You know a whole kind of financial framework to. Guess. What attribution should be because you learn a lot as you see different businesses and you see a bunch of different different patterns, which you can basically cluster on, but it is this linkage between spending on something like sales and marketing emceeing seeing revenue, go up or down, but makes or breaks a business, and you want to look at it and I is. Not a bundled. Entirety which is how financial projections are typically built? Okay, well! Let's talk a little bit more about what you actually do so if you're talking about early stage technology companies. Describe how you are modeling, those companies and how you are making decisions as to whether they should receive capital. When a company comes to capital they they come to our website. They sign up for this system that we built which which we've called the capital machine. And the first thing that they do is they connect their accounting system their payment processor typically, so think like a strike, and then sometimes they'll provide other things like a pitch deck or a data room, or whatever other information they have prepared. The system pulls down. All of the date in the accounting system and the the payment processor, and we look at other systems to these are the two key ones that all all dive into detail, and so, what ends up happening is from the accounting system. We get a list of all the times. Businesses spend money on these things like sales and marketing that we were talking about before. From the payment processor we get a list of all the revenue transactions in crucially we get it at. The level of each. Each customer payment, and so you know we scrub I all we really care about is having a customer ID, but once we have data at that level. We can start to do this linkage and say all right look. You know this business spent. A million dollars on sales and marketing and March of two thousand eighteen in April of twenty eighteen, and we saw revenue grow by twenty percent. That was a pretty substantial chain. You know what actually happened here. You can typically identify the subcategories of sales and marketing and start to do this link between these two, and this is really the you know the magic behind our our data science in our team pairing with our engineering team to figure out this problem and solve away that is, that's robust. Bud once we have these two data feeds, and the system goes through, and does all of these attribution. Populations were able to present that back to accompany a pretty clear picture of what's going on, and so we'll say things like hey. Your Business is pretty seasonal, and in the summer is when you're typically more more efficient at converting your sales and marketing dollars into growth so I, you want to finance growth in the summer. The second thing is only about eighty percent of your businesses financeable. There's twenty percent where you might not know it because you're not looking at this level of detail, you're busy building your business, which is exactly exactly what you should be doing, but Twenty percent of your businesses, not efficient. You're spending money on on your sales and marketing categories, product lines, and CETERA that just shouldn't exist and so if you get rid of those. If you double down on the part of Your Business, it is efficient. Then we predict your revenue will be act fifty percent higher, and we'll tell you exactly how much money you need to invest to raise money to to raise the revenue by fifty percent. We give you a bunch of charts that allow you to see how history and projections merged together and dig down. Inspect how we do that linkage to make sure you agree, but. This is what the capital machine does at its core. It Converts Company data into a fully audited completely transparent picture of. How business works where it sufficient where it's not efficient. And then that's where our technology stops, and where balanced she comes in, and so we then take this information, and we make balancing investments directly in companies, and so primarily at this point we lend money to technology companies that we see from their data are eligible for non dilutive funding. We make capital available to them directly. We basically allow them to access it through the capital machine. We use one system to communicate changes to the business. No keep both sides and form so on and so forth, but this is the kind of analytics layer that's essential to making these capital allocation decisions more efficient, and so I think you could imagine a day at least for us in the not too distant future when it's not just US using our balance sheet in this tool to make investments, but in fact, just like excel, every investor can benefit from a similar level of analytics and transparency, as can companies by getting more accurately priced faster access to capital less friction so on and so forth. Get Lab commit, is! Get labs inaugural community event. Get Lab is changing how people think about tools and engineering best practices and get lab commit in Brooklyn is a place for people to learn about the newest practices in devops, and how tools and processes come together to improve the software development life cycle. Get Lab commit is the official conference. Forget lab. It's coming to Brooklyn new. York September Seventeenth Twenty nineteen. If you can make it to Brooklyn, on September Seventeenth Mark Your calendar, forget lab, commit and go to software engineering daily dot, com slash commit. You can sign up with code commit s E. D.. That's COM MIT S. E. D.. And Save thirty percent on. Conference passes. If you're working in devops, and you can make it to New York. It's a great opportunity to take a day away from the office. Your company will probably pay for it, and you get thirty percent off if you sign up with code, commit S, e. There a great speakers from Delta. Airlines Goldman. Sachs northwestern, mutual, T, mobile and more. Check it out at software engineering daily Dot Com slash, commit and use code. Commit S. E. D.. Thank you to get lab for being sponsor. The inputs specifically if you think about a model for determining whether or not, a company should should be eligible to receive capital. I'd like to know how the the models are built. The the data science models that you're building are constructed from the point of view of the inputs. So how are you determining or how do you like company comes to you? How do you turn that company into some structured form of data that you could put into your models and determine whether it's worthy of capital. Yeah I mean it comes down to what what the data is your down so when we talk to a system like striper transaction records system, you know that that's the revenue of the company now where things get interesting when we connect to balance sheets in penalizing, it's of accompanying really onto understanding. Weighing. What exactly these numbers mean, and that sort of where we made our pipelines were built from the ground up to give us that granular. Of A company's cash family revolutions. Where's the money going where they allocating? And it's savable greenway or you once. What do you understand that data through that Lens? That let's build pretty sophisticated financial models Linda. And you know as soon as you have the picture of Company You can really do a lot of flexible analysis on the back leg distributed computation. Come stuff that you would never be able to excel and quite frankly a lot of these companies don't have the stacking internally or really the tools to understand for themselves, so you'd be surprised it you know when we surface this analysis back to the company by virtue of just being transparent on how we're making decision how it is perceived their business, the signals that were uncovering. These operators the CEO's the CFO's that are really focused on building company. Really surprising. They're really making these insights really transforming. How they think they should have capital. Should invest growing business. Are there any? Sources of Third Party data that you can gather to improve decision making. There are at a macro economic sense, and so it's actually quite useful to look at public company performance and say hey. SAS businesses in general. Most people notice, but facilities in general are seasonal in the fourth quarter. Budgets basically expire and people come in, and they buy a bunch of SAS. Software and so to take concepts like that basically shapes of curves, signals and apply them to private company. Financials is useful. Crucially though there is no private company. Data repository of any kind like it just doesn't exist, and you know notoriously even even with small businesses. It's actually quite quite difficult to get access to any sort of meaningful credit data, and so, what ends up happening is these aw. These businesses. Give you a picture of their business directly as an investor and you have to interpret it directly, and that's basically how this works totally unlike consumer credit, there's no credit bureau that people paying so most investors are analyzing the state and excel. Excel notoriously breaks when there's about a million cells worth of data, and so we've got this great visualization showing our data pipeline, and it's basically a bunch of boxes, and there's a little tiny. Tiny box in the bottom of corner that's excel, and there's a bunch of other boxes across the entire rest of the page that are nodes in our in our distributed computations, but accelerate very very limited, and so it makes it impossible to actually understand what's going on in business from the source data, and it's at the source that you see this variability in this linkage between profitable capital allocation decisions in unprofitable capital allocation decisions. Describing more detail, the workflow so a company comes to you and they're going to put their inputs into the. Would you call the capital machine? What does that workflow look like in a little bit more depth? Yes when they come to the website, they creighton count much like you would on. Twitter facebook account. When your details your email, you terrify your email, and then you on what's recalling like the capital portable on there? You have et CETERA. Tools to connect your sins record and these are typical offload. So you know people are very familiar with you. You know you say hey, let's connect by quickbooks you in your credentials and sort of be as secure way, and you click okay and the system checkmark by your quickbooks in the system start pulling that data out of regular cadence and. Depending on what system you're connecting you of the characteristics of that's not go systems of record, and how much data you have you know. The data's available anywhere from ten minutes to a couple of hours later and you know once we have Dr. System, we run that through our partake analysis pipeline in the users as a company. You get you get charged. In Tableau kind of call it, the insight Saban's these refused that we think would be helpful for you as an operator company understanding about Your Business in separately. We also get views of that data that are useful to our our internal investment team. Whoever is looking to capitalization systems? Are there certain business categories that are a better fit for modeling in better fit for the kind of. Predictable capital returns that you can, you can expect with the investments that you're making so like you ride sharing or Gig economy businesses or some businesses. What are the categories that are the best fit? Say Very few categories don't shit from the from the perspective of of linkages, but they're certainly models at their easier to think through and easier to understand, but our our system can underwrite today A. Lease on a commercial aircraft, a fleet of ships and Insurance Agency ask company the most important. Thing about our system is that the financial theory that underlies it is very general, just like p. e. rate is very general, and so that's kind of sounds crazy like. A lot of. A. Lot of people say what what businesses the best fit for your your system and you know it's kind of like asking what businesses the best for Warren Buffett like Warren. Buffett is a generalist. In any business, and he has a framework in his own head to figure out how to make ship comparable to American Express our assistant has a very similar framework. It just operates at the level of transactions instead of at the level of financial statements, but certainly within. That framework there's some examples that are just easier describes I think like you know thinking through the fishing of sales and marketing something. That's a lot more obvious than thinking through like the stability in refurbishment of commercial aircraft parts, which is a key question you know. Pricing pricing refurbished parts, which is a key question if your financing commercial aircraft and Our team, the ambassadors that use the capital machine internally which we primarily do internally do a little bit of partnering with without the groups to to use this as well. These people are all specialists in some particular area, but it's crucial to understand. They're looking at the exact same chance as all the other specialists and all the other areas, so it's like literally the the Fast Company and a commercial aircraft will have the same series of charts at investors. Are there two two draw their conclusion? Is the question for Chris. Can you describe the stack of technologies that you built in more detail? Yeah Yeah. Of course on the front, we are react type script, xjs, you know everything is on aws, and in the back, and we're. We're all python, and in really the reason for that is if you're doing any serious machine, learning or data science today can't really get away in python stack, so we're all python them back in. We have flasks. As a as our API late here and That's the that's a high level. And get a little bit more detail about how the data science layer works. Yeah, yeah, yeah, of course, so we put on the dea into basically a data lake the that goes down into Ardito pipeline in that's all air orchestrated on top of each called airflow, and we use a technology called desk for are distributed computation, and I think that this is a good choice. Choice for us at this moment you know I see us doing a lot of work on. You know using a spark in other distributed technologies in the future and his team and it turns out that when we pull this data down organizing the data was really important to us as we build a lot of attractions to make accessing that data, really easy for quantitative analysts. Important central to our whole technology is that we're able to do a lot of different financials experiment very quickly on top of this so the the implications of that really cascade down all the way into. You know what technologies where choosing how we structure our delayed. Even even how strokes are teams, so it really is brought up locations across all product. How is it when you're analyzing company that you have enough data that it warrants a spark cluster because I can imagine? The financial data around the company. How can there really be that much data to analyze how you do surprised in a lot of these transactions systems taking up the companies have been around a couple of years and their direct to consumer. These data sets can be can be pretty large. You know we're talking about in the millions and millions and millions of transactions that were pulling down and storing. Storing and that just on a per company basis. You know that's not even talking about if we wanted to. Benchmarks Cross companies, and also if we want to do scenario analysis, so you know one of the things we was part of a pipeline is take this data, and through like nine ninety nine hundred thousand simulations to understand the sensitivity of different variables on the performance of Your Business and If, you're starting out with starting that already large. Sort of a multiplying effect. On how much data the system is the old process? is you go through those different stages? And, can you tell me a little more detail? What would a typical spark job? Look like for a company that you're assessing. Yes, so first episode is ribbon. Our our financial didn't ingestion parts, so we download something on the order of you know forty fifty bytes of Tim's action data for for a company. We have to do all the work to interpret and understand what that means in reorganized that data in a way that are downstream analysis and primitives can. Make sense of and use for useful analysis so really the first step at this point job is is transformed the datum some it's useful, and then there's all the work on what are the clusters in order to machines and analysis in the computational. Resources needed to run simulations. You know not not just say local computer locally owned of fall over the only about thirty to sixty four gigabytes of Ram what league, so that's where workflow comes in creating easier faces into data, clusters and being. Should you know when you run a job? You know when it fails. You know it's done. You know when the team can't okay. This part of analysis done I had intermediate date asset to do more analysis on now get back to work is a lot of the time we spend developing internal tools to make. One other thing that'll mentioned that I think's important is. A lot of the underlying technology in our data pipeline it's no different than like what a tableau or you need. Traditional BI business would have access to, but what's fascinating when you have a vertically specific domain so financial data in our case you can make a lot of interpretations about the date of the let you do much more intelligent things, and so for example we. Don't have to make your own charts as a user of the capital machine. We make all the charts for you can of course. As a business we work with. Give us ideas for charts. You can mock up your own. We we basically have an interface for for business. The I team's to to write some code if they if they want to bought when you have clients who are thinking about financial risk, financial attribution across all of the companies that we see distilling that down into a series of indicators that are detailed, but generalize -able, and then publishing that back to all of the companies that use the capital machine to run their own capital, allocation, decisions and access, external fundraising and capital. Some pretty amazing things happen in so it's only with a vertical view. You actually having these we, we call our data scientists Kwan's, but but actually having these people who you know typically are graduate level economists, thinking for the first time about using transaction level data in their analysis, which is notoriously not not available to to normal economists that you get the kinds of insights and analysis the actionable for businesses, and then in terms of the data pipeline that then means we actually store a bunch of intermediate data that's opinionated in that way, and that makes it much faster to access much easier to benchmark much more useful across a network of companies, versus just that isolated excel model that. Explains only one business. One thing I'd like to ask you about. Capital intensity so there are kinds of businesses that are capital intensive for example where you have to pay upfront for a lot of ridesharing rides, and you know as Uber or lift. His has known in much detail. You allocate all this capital two things to subsidize rise because you try to win a market, there's all kinds of other capital intensive businesses. How does capital intensity change? What makes sense with regard to the equity financing the debt financing that you are shepherding for these companies? That is a great question and be because of where you focus in your audience. You totally get the most financiers don't so. The first point exactly like you said. Capital intensity means a business consumes a lot of capital. It doesn't mean a business has a physical factory or plant or railcars, so it is absolutely true exactly like you said that there are a lot of tech businesses that are incredibly capital intensive. If you are capital intensive business that means UNI especially if you're growing, you need to raise a lot of external capital, and so it is even more important that your capital or a big portion of your capital base is not dilutive. That's that's just essential. Table stakes because what you see with these businesses, the ride sharing companies are great. Example is by the time one of these things actually goes public the early owners in the business on a very very very miniscule. KEESA that business, still if you contrast that to company like Viva Systems which I think is one of the most capital capitol efficient businesses in venture history, I think that this race something like twelve or fifteen million dollars total before it went public in a at a multi billion dollar market cap. So capital intensity. Is a synonym for dilution your own way less. Than you think when you exit entities even more important that you figure out a way to raise capital non ludicrously upfront. Some broader questions zooming out in in getting your perspective. Do a thesis for what is going on in the economy right now where you look at. The fact that We have. Obvious pressures to. Reducing the size of the economy through the lack of tourism, the lack of social gatherings while the stock market climbs higher and higher, and it appears that the technology side of things is almost unaffected by Corona virus is there. Is there a thesis that you've arrived at or or their set of theses that through conversations with other people, you've found most compelling. Sure the most important thing to realize about the stock market is that it discounts all cash flows from all businesses in the stock market to infinity, and so the value, the stock market about eighty percent of the value. The stock market is. Pretty far into the future like more than three years from now, and so if you believe that the current economic crisis and this is why there's always a. At least in the Western, world, last two hundred fifty years after an economic crisis. If you believe the crisis will eventually revert, and there will be a recovery, then it only makes sense discount stock market assets by anywhere between ten and twenty five percent. If you believe businesses fundamentally going to go out of business because of this crisis, that's a different story, but that explains why something as terrible as Kobe nineteen and a pandemic. Only discount the stock market by by roughly thirty thirty five percent in a in March, but that's not what's actually going on today as you mentioned and so stock market prices now have completely recovered. That is something that we think is a little bit of out of sync with reality but I. I mention you know we're not. We don't spend too much time about the stock market beyond that we just look at you. Know Private Company fundamentals. We try to understand what's actually going on in individual businesses across all businesses that are network to see what you know what we can understand, and you know what kind of conclusions we can draw, and so if you take that Lens and you actually look at what's happening to businesses due to Cova nineteen, it's fascinating. Some businesses like think the food delivery space have gotten a lot more efficient, so those businesses lot like ridesharing businesses back twelve months ago, there was sort of a bloodbath between bunch of companies competing in local markets to acquire customers all all fighting Google and facebook console, and so forth you subsidies drivers, etc.. That's essentially stopped. These businesses incredibly profitable, the cost acquire customers has fallen by more than half a lot of cases. The channels were slot less competitive, and so if you're running one of those businesses. Now is a great time to be aggressively expanding. Weird things like commercial construction businesses. They're actually a handful businesses that we've seen do things like install windows and doors and commercial buildings whose businesses have accelerated because all of these buildings are closed down. Construction project timelines have gotten pulled up. All of these orders are coming. Do in they're you know sort of rapidly doing it solutions? There's obviously a bunch of other businesses have been that have been hurt by by the pandemic, but our general thesis are we've studied. Pretty detailed way the Spanish flu in nineteen eighteen, you know. These things eventually go away. There will be a vaccine. Economy will get back to normal, and as long as we can stay focused on working through this as as a society and of maintain our our fabric of of kind of economic progress then. DESAGUADERO values today will eventually make sense just sort of a question of of win for the stock market, and then if you're if you're actually running business in thinking about your own performance in isolation, really being clear about is now the time to invest and grow my business now the time to be very careful with my expenses interest, get through this for the next year or however long it takes for there to be a vaccine. So the way to think about your company, if I understand correctly if I was to to put in a nutshell, is that. I think of you as a data science middleman between large capital allocators, and and start ups deserving of capital, so the the sovereign wealth funds the banks the I guess. Funds of funds. These kinds of sources are essentially looking to you for guidance on where to direct the capital, and you're on the on the other side, absorbing data and creating opportunities from these startups to source the good directions of that capital. Just wrap up. Would you put any more color around that description or or refining anyway. Yeah I mean I. think that at the core of what capital is is where the. Core Technology Ambler of sort of. The private market if you think about public markets today, you've clearing-houses like the New York Stock Exchange, and you have companies that provide analysis on top of that like Bloomberg, you know we see a tremendous opportunity to shift the paradigm where you know the place where all the financial transactions happen. is also the place that collects the data improvise information for those making these decisions and yeah, so I think capitals really at the center of making a transparent technologically enabled financial marketplace. Guys. Thank you so much for coming on the show and discussing capital, and I guess one last question is. Do you have any predictions for how capital allocation for startups will look differently in five ten years? Sure so! The first prediction. And this is happening now. I mean the the infrastructure is. In place both within. And others. Most startups fairly early in their life. Think is equity only way to do this and. So. That's a cultural shift. That's that's already happened. People are starting to ask that question. The second prediction is. Seed and series a funding will be entirely unchanged. After series. There'll be a bifurcation between businesses that. Are Really. Capital intensive gigantic rnd projects think like SPACEX. The series, B. C. d. e. enough are really about building and launching a rocket. Those businesses will by and large not. Turn outside of equity to finance themselves, but there's very few of those businesses. Pretty much every other business businesses that you see raising a series B. Serie C. Will like any normal business in the entire rest of the economy raise maybe half of that capital nine allegedly either in the form of debt. Royalty financing factoring all of the other instruments that normal companies use to finance themselves in the void delusion that will happen roughly three years her. Now that'll that'll kind of we'll see obvious obvious signs of that from very early very early base, and then the final the final thing is. Steve Case talks a lot about this. With the rise of the rest, he's got this great venture fund that invests explicitly outside the coast, so kind of the rest of America and we've seen that there's there's a pretty dramatic distinction between being a coastal business non-coastal business from capital access perspective, but there's no distinction from an actual performance perspective, and so we'll start to see some of the regional. Differences in bias sees around where capital flows, go away. And so I would maybe put that on a five year timeline like raising capital is actually much more predictable, much less biased, and that's great back to the beginning of our conversation. That's great for the economy I mean every project or business that can convert capital, two products and services that people love should get finance. No questions asked doesn't mean it doesn't matter what the color of your skin is. What background you have whether you went to college didn't go to. College doesn't matter. You have a business with data that can prove whether people love it
Rihanna and Twitter CEO Jack Dorsey donate $15m toward mental health services via her nonprofit
"Riana is continuing to reach out to those in need through her foundation the Clara Lionel foundation announced a fifteen million dollar donation in collaboration with Twitter CEO Jack Dorsey to several organizations dedicated to mental health services food security and income loss to people in Newark and Chicago the donation is part of Dorsey's hash tag start small initiative
NRA Receives Massive Funding Increase From Donors Held at Gunpoint
"The National Rifle Association it may be one of America's most storied institutions, but it's also become a lightning rod for controversy, and that's led to some serious lackluster fundraising numbers. In fact, the NRA is experienced, significant financial struggles losing tens of millions of dollars over just the past few years. That might be about to change today. Thanks to some new fundraising initiatives by the Organization for more return to OPR's national national rifle association correspondent Marcy Hammond Hello Marcy. Hi Leslie allows you mentioned. The NRA has been struggling severely for donations this year, but there seems to be a writing of the ship taking place. Place as the NRA today has reported a massive funding increase from donors held at gunpoint tactic. How much money are we talking over the past quarter? The NRA says it's raised over fifteen million dollars from donors who are awoken in bed with a pistol in their face, informed with a child, and a playground is within an NRA. Snipers range, or simply grabbed armed fundraisers on the street
NRA Receives Massive Funding Increase From Donors Held at Gunpoint
"The National Rifle Association it may be one of America's most storied institutions, but it's also become a lightning rod for controversy, and that's led to some serious lackluster fundraising numbers. In fact, the NRA is experienced, significant financial struggles losing tens of millions of dollars over just the past few years. But that might be about to change today thanks to some new fundraising initiatives by the organization. more we For turn to OPR's national national rifle association correspondent Marcy Hammond hello Marcy. Hi Leslie allows you mentioned the NRA has been struggling severely for donations this year, but there seems to be a righting of the ship taking as the NRA today has reported a massive funding increase from donors held at gunpoint. Interesting tactic how much money are we talking? Over the past quarter The NRA says it's raised over fifteen million dollars from donors who are awoken in bed with a pistol in their face, informed with a child in a playground is within an NRA snipers range, or simply grabbed armed fundraisers on the
You may have heard this before: Venture capital investing is not very diverse
"Earlier in this week we talked about how the tech industry should either hire more people of color or invest in them higher or wire on that ladder idea. The past few days have seen a few commitments from established venture funds. Softbank, launch. Day One hundred million dollar fund support people of Color Andriessen Horowitz launched at two point. Two Million Dollar Fund to support founders from quote underserved communities with a plan to expand it to fifteen million dollars over time, but if we're being honest here. That's not that much syrup. Kunst is the managing director of CLEO capital. They are real amounts of money, but compared to the size of the industry and the amount of underfunding that has happened. Black founders get less than two percent of all venture capital dollars, despite being fifteen percent of the population and starting companies at disproportionately high rates so that historical imbalance is certainly not going to be solved with you know these cumulative called one hundred fifteen million dollars in commitments that one hundred. Hundred fifteen million humility is already small, and then when you realize that it's not particularly earmarked for black or Hispanic, underrepresented minorities, you have to question how much is actually going to get into the hands of the people who you know have historically been underfunded the most right, and also, if we were talking about structural change, white year, mark money at all exactly and I think you know my fund cleo capital. We don't have a mandate around gender diversity that being said you know. Know, my portfolio is incredibly diverse. We have a lot of black founders. We have a lot of Asian and Indian in Hispanic founders. You know we. We have a lot of gay founders like we've. We just find great people and we invest in them, and they make us a lot of money are two best. Performing companies in the portfolio are founded by women of Color, and the other one is founded by a man of color and his business partner in both are immigrants the exact. Exact things that people are saying. How do we do it? How do we find it? We have to have this carve-out or this sort of remedial training or whatever it is, there are funds like mind that have just been able to do it and we're making a lot of money from doing it i. mean there's research that shows trillions of dollars is being left on the table by not investing in more founders of color like why isn't that economic argument working if nothing else? I mean we see the same thing with gender right I have been on NPR I've been on these shows a lot to talk about gender and race over the years, and we saw a lot of these same things after me to where you know, there's massive economic arguments right? There's only really two schools of thought you either fundamentally believe that only white men are capable of greatness, which is a really thought that I hope you're very quiet about or you're leaving money on the table, and there's not really another. There's not really another option, and and so I think. Think when people realize that, and when people except that, they say oh, I'm leaving money on the table. And by the way the job of venture capital is not to invest in a museum founders.
Aspen Institute says it will return $8 million small-business loan
"Two a prominent DC based think tank the Aspen Institute is returning eight million dollars it got from the feds as part of the corona virus relief package just yesterday Aspin argue the small business aid was needed to keep its four hundred thirty person staff employed the aspen institute has a one hundred fifteen million dollar endowment and several billionaires are on its board of trustees the decision comes a day after the Washington post reported the institute got the loan it joins the LA Lakers and shake shack and among the businesses that have gotten federal money and then chosen to give
Applications for Houston rental assistance program closed in under 2 hours after money runs out
"Story the city of Houston's rental assistance program ran out of money within ninety minutes of accepting applications today cities housing and community development director Tom McCaslin says nearly twelve thousand renters scooped up all fifteen million dollars over the next two weeks and Baker Ripley will be confirming these applications within two weeks the applicants will receive a plaque to other and the goal is to have all of the funding I'm out the door and and to to the landlords on behalf of tenants by the
Los Angeles Prosecutors: CVS Subsidiary to Pay $15.3M Over Opioid Allegations
"The CVS health subsidiary has agreed to pay more than fifteen million dollars to settle allegations by federal investigators that he mishandled opioids prosecutors in Los Angeles accused omni Kerr which is a delivery only pharmacy serving nursing homes of improperly handling emergency supply kits and processing prescriptions without signatures CVS health says he had reached a settlement without having to admit liability and that the allegations pre date the company's acquisition back in twenty
Tina Fey Telethon Raises $115M for New Yorkers Affected by COVID-19
"Comedic actress Tina fey says more than one hundred and fifteen million dollars has been gathered to support new Yorkers impacted by covert nineteen this money raised during a virtual telethon Monday night she was joined by other celebrities like Barbra Streisand and Jennifer Lopez who asked for donations the money will help provide support for food shelter cash assistance mental health and legal services for those who needed to during this pandemic
Telethon raises $115M for New Yorkers impacted by COVID-19
"Kerry kicking off last night's rise of New York all star benefits to help people impacted by covert nineteen air right here on CBS two New Yorkers Robert deniro Bette Midler Alicia keys in areas the piano man Billy Joel adding their voices to the virtual telethon hosted by Tina fey raising money for the Robin Hood foundation which fights poverty more than one hundred fifteen million dollars that was raised
$115 million raised during "Rise Up New York!" telethon hosted by Tina Fey
"New Yorkers affected by the corona virus will get a lot of help after virtual telethon raised a lot a lot of money for them Robert De Niro says New York City is under attack again but he notes the Big Apple has been through this before with nine eleven and hurricane sandy and he says the city can take a blow from anything but its spirit cannot be broken the actor was among the stars who took part in an online telephone to raise money for those affected by covert nineteen other top stars attending the online event included Barbra Streisand Jennifer Lopez and Michael Strahan the event was hosted by Tina fey as she announced that the telethon had raised a hundred and fifteen million dollars her eyes welled up with tears and she emotionally thank those who
Telethon raises $115M for New Yorkers impacted by COVID-19
"There was been a virtual telethon held for New York City and it raised a lot of money to help those who are affected by the corona virus Robert De Niro says New York City is under attack again but he notes the Big Apple has been through this before with nine eleven and hurricane sandy and he says the city can take a blow from anything but its spirit cannot be broken the actor was among the stars who took part in an online telephone to raise money for those affected by cool that nineteen other top stars attending the online event included Barbra Streisand Jennifer Lopez and Michael Strahan the event was hosted by Tina fey as she announced that the telethon had raised a hundred and fifteen million dollars her eyes welled up with tears and she emotionally thank those who contributed I'm Oscar wells Gabriel
Louisville athletics to furlough some employees as cost-cutting continues
"Louisville athletic director Vince Tyra said in his department that they will cut fifteen percent from their sports budgets and they will furlough staff this week it further economic moves resulting from the child of ours tire Tyra said furloughs would be announced on Wednesday but did not specify details earlier this month the eighty announced ten percent pay cuts for head coaches and senior staff including himself and included forgoing his three hundred thousand dollars in bonuses the department is looking to trim that fifteen million dollars off the twenty twenty twenty twenty one budget which would be submitted this week and indeed other cost cutting moves that including
"fifteen million dollars" Discussed on WEEI
"Being paid fifteen million dollars per season by the cowboys which until Monday had made him the NFL's highest paid running back that honor now belongs to Christian McCaffrey McCaffrey of the Carolina Panthers have agreed to a four year extension worth sixty four million so at sixteen million per season McCaffrey now the league's number one paid back Tom Brady will not be back in New England this season and on Monday bill Belichick spoke to reporters for the first time since Brady's departure the purpose of Belichick's conference call was to talk about the draft but reporters were just as interested in Brady yeah no well water under the bridge I guess that will really focus on that they then find the look at our opportunities and make the Blandford fair if competitive we can be this year well that's really where our focus the Belichick did tell reporters that it would be impossible to talk about everything Brady did for the patriots during his twenty years with the team the NFL and the players union are now an agreement about how to conduct virtual offseason training programs the program begins in April twentieth for teams with new head coaches on April twenty seventh for the others the virtual OTA's run through may fifteenth no team can conduct on field programs until each of the thirty two clubs has been given clearance to reopen facilities the NFL is mourning the loss of former Seahawks Vikings and bills quarterback to bars Jackson Jackson was killed in a one car crash this past weekend at Alabama he was thirty six several days after suspending operations laid off all employees the XFL has filed for chapter eleven bankruptcy.
"fifteen million dollars" Discussed on KMOX News Radio 1120
"Range of fifteen million dollars I heard on camel X. this morning that the record for Christmas day temperature wise was seventy two degrees which is was a long long time ago but Hey tomorrow we're gonna have a high of about sixty four clouds and sun warmed tomorrow night a low of forty and then Christmas day high of sixty five degrees with sunshine Thursday more of the same Friday not quite as warm but still mild with times of clouds and sun high of fifty three right now in Saint Charles we have thirty six Edwardsville has thirty five and downtown under the arch thirty four degree AC new phone yeah I just switch to boost mobile and got for free Samsung galaxy eight twenty phones from the bottom from the came from the struggle from the pain yeah I got the for free phones part but did you just put a people song now yeah you did listen what no I'm saying with boost mobile super reliable super fast network I'm winning winning winning winning that that's people song windows mobile you're winning free phone limited to new customers of one per line additional restrictions apply for details all right it's Jamie progresses employee of the month to month in a row leave a message at the hi Jeannie hit me Jamie I just had a new idea for our song with the name your price tool so when it's like tell us what you want to pay Hey hearing from bone was what wine you say will be found coverage options to fit your budget then we just.
"fifteen million dollars" Discussed on KOMO
"Filed in Chicago by a Russian aircraft leasing company claims Boeing failed to disclose information about the air worthiness of the Max Boeing has declined to comment on this latest legal move the jet has been grounded worldwide after the crashes in Ethiopia and Indonesia there are reports that the Max could be flying again as soon as October the FAA last week said that it would invite pilots from around the world to spend time in the Max simulators in addition to cancelling its order for thirty five MAX jets the Russian firm is also seeking one hundred and fifteen million dollars in compensatory damages there's a new threats to local trees the Hokkaido gypsy moth the ever hear reports that this destructive passed from Japan has been spotted in what way not far from admins devastation be really quite appalling Andrea dis there with the department of natural resources the gypsy moth program specifically she says the hungry tree munching mas love evergreens the past likely reach Washington aboard a freighter from Asia sickle cell anemia is a fairly rare blood disease that doesn't get a lot of attention these days and yet the one hundred thousand or so people in the U. S. who live with it often suffer excruciating episodes of pain in a world where getting a doctor to prescribe pain medication can be a battle we get a close on up but a close up on this rather from Kamel's Carly Johnson September is sickle cell awareness month something you may have learned about in high school talking genetics as it's an inherited blood disorder and no one really in my family do anything about that also but by the time he was a teenager the pain was often overwhelming for can west who serves as president of the Seattle sickle cell task force he would often end up in the hospital throughout my team in twenty pretty much once a month with the crisis sickle shed blood cells don't deliver enough oxygen to organs and tissues as healthy blood cells do that cause a slow damage over decades it is most common in the African American community or one in thirteen carry the genetic trait for sickle cell what is a pain like we can describes it starting out like someone snapping a rubber band on your wrist a little painful to begin with but then a graduate so the pain escalate where it's kind of like someone just feeding your wrist with a hammer and when pain is that excruciating nothing but narcotics will even come close to helping and if you end up in an easy are you haven't been in before a different doctor a sickle cell patients can often run into roadblocks and labels we get labeled as a drug seeker is simply because we typically use high doses of narcotics that thing in and that sends a warning bell K. D. hall has a four year old daughter was sickle cell the ethical fell Michael would it look like you know he's a pilot you know full very athletic and so that's something that we work we're going to continue to encourage her to be after that activity is really good for people analytical fail next month September fourteenth at Seward park all west and others are gonna want to raise money and awareness for sickle cell anemia research is key to getting the disease defeated you can find out more online at M. S. S. C. E. T. F. dot org for the metropolitan Seattle sickle cell task.
"fifteen million dollars" Discussed on KFI AM 640
"And his way latte and Uganda where we just saw that aestheticians from Costa Mesa. She was kidnapped five hundred thousand dollar ransom. Don't know whether or not it was paid as soon as it was and she was released, but she's perfect example of Uganda. So there you go if you're going if you're traveling anywhere abroad, you might wanna check the State Department's list of the K indicators for your kidnapping potential if all right? So how much does it cost to keep Mark Zuckerberg safe? Now, remember the guy takes an official salary of dollar a year. He did not receive bonuses or stock awards in two thousand eighteen but his total compensation jumped from nine point one million in two thousand seventeen to twenty two point six million in twenty eighteen at what was that? Twenty two point six million four it covered the increase insecurity costs for the high profile CEO. Apparently there have been specific threats against Zuckerberg and its high visibility his high visibility. So we're. Talking personal security at his home. And when he travels because people are pissed about Facebook. And how all of their information was sold and got out there, and you know, the Analytica that whole scandal with the two thousand sixteen election. So they're they're still upset about that. And apparently, Mark Zuckerberg took those threats rather seriously. So it costs twenty two million dollars to keep Mark Zuckerberg safe last year and speaking money game of thrones. I I'm not I'm not a fan. I'm sorry. I shouldn't say that. I'm not a fan. I've never watched it. So I don't know. Maybe I would be a fan of I watched it. Anyway, last night was the big season opener of the vinyl season of game of thrones, billions of people probably watched it is the Bella producer Isabela was talking about how she's trying to go to bed and her parents have it blasting in the house. I love that anyway season. Eight will be the most expensive one yet. According to variety, we don't have confirmation for mayo. But according to. Variety magazine, the episodes are estimated to cost how much how much do you think each episode costs? I'm giving you three seconds three to fifteen million dollars each. At eighty episodes of the final four are expected to run eighty minutes per episode, but fifteen million dollars. A lot of money. And if you go to KFI AM six forty dot com this morning, he would wake up call. You're going to see one of the stupidest things I think I've ever seen in my life. How about a hot pocket sleeping bag day? You too can become a human hot pocket, and doesn't everybody wanna be think? Geek is the company and selling them online for eighty dollars. And they're designed just to look like the micro microwaveable sandwich down to the cooking instructions, and which side is up Cording to the website, custom microwave with today's the insulation system ensures your extremities, stay toasty and integrated Krispies leave for maximum retention stupid. Stupid stupid. If you're willing to sell out eighty dollars for that. Have abridged combined this KFI in Keio HD, two Los Angeles..
"fifteen million dollars" Discussed on WIBC 93.1FM
"There can you guarantee. I'm to get back in your face because you're such a smart asset. So the time went viral a lot of these people don't like you. Guarantee. The president tells the truth during the speech tonight what a grandstanding D bag question. What do you think the answer is going to be there? Jim, what do you think she's going to say, oh hell, I don't know. Well, maybe I'll tune in and find out I saw speech as written a crayon, and they can make an half of it. What do you want him to say right there? What do you want her to say right there, are you? Okay. With this hammer new streaming series about the life of Jesus being released in April. We don't know the platform yet. But this new streaming series about the life of Jesus being it's it's dropped around Easter time just became the number one crowd funded series and entertainment history. The makers raised ten point three million dollars for this new streaming series about the life of Jesus are you okay with this. Now before we get into this for those who don't know what crowdfunding as what's the easiest way to explain this. Well, I think what these guys did. Was they they released a pilot episode. They released a single episode about their their version of life of Jesus. It was seen by more than fifteen million dollars people or I'm sorry, fifteen million people in the people if they wanted to fund a show like this and the response was historic. I'll give you an example, they unseated the record holder for crowd funded movies or series, which is the mystery science theater three thousand they only raised five point seven million. Now, this is like go fund me and those types of this was crowd funded this there's fifteen thousand investors wideness that's a lot of money, man. And look this is why crowdfunding exists this type of movie the series about Jesus probably would not have got a second look from Hollywood executives. Even though it clear that movies about faith do incredibly. Well, it just feels like there's not a lot of movies or shows. About faith or religion. But not quality quality. Look passion of the Christ of the early two thousands hundreds of millions of dollars. Excellent. What are the most brutal depictions I've ever seen by? So it's hard for me to watch. I still get teared up where Jesus draws the line in the sand and keeps everybody from stone in them the prostitute. Right. That makes me a little bit. I think people are going to. I think I think there is definitely an audience for something like this. And I think there's a clamoring for it. Actually, people are on board with things about faith doesn't even have to be religious per se the movie I can only imagine did really well at the box office. It didn't cost a lot to make that movie, but it did really well at the box office. So yes, absolutely. If the people want to pay for this and people like this fifteen million people watched the pilot episode alone. Absolutely. I'm okay with this. This is good. Okay. Coming up next. I if you liked Kellyanne Conway versus Jim Acosta might have to play.
"fifteen million dollars" Discussed on Mixergy
"VC. Why'd you go after VC and what happened? Yeah, I, I was getting approach. I from a bunch of random emails asking where I was in the process had a deck if I wanted to raise money in my plan was never to do that. But I started talking to people that kind of in that space. They were like, look, you know, you can. You can stop worrying about the cash flow nightmare and you get to kind of get a little war-chest going grow this thing. And then eventually you either like Sal or public or any of these different exit routes in. So I enter tained it. I built a deck. I went to the valley and I took some meetings got some term sheets that opened my eyes to sort of the that world in did I want to give up control of my company? Did I want to sort of leave my future in the hands of somebody else? And at that time it was not something. I was willing to do. I even got an acquisition offer to buy the company that I turned down. How much was a four at the time walking to tell you that really. Was it painful to go through that process? It seems like it was eating then it's a beating and it is distracting, and it's demoralizing to be told, no. When you think that you have something awesome. I was a company that came in with one year in business and fifteen million dollars in sales and. Half of the people that I talked to were like. Well, let's see what else. Like, let's see what happens happens at the end of your too, and I'm like, I don't need your money at the end of your to. I need it now I wanna grow it now and you know, half the guys out there were just like, I don't think it's sustainable. We don't think that it's scalable, I think that I would have had a better chance getting the money from everybody if I had if I had done a hundred grand in sales and then five hundred grand and then a million dollars in sales. And I think then I could have gotten funded if I wanted to, but I wonder if it's just that you didn't know how to presented you get any advisors to help you think through. I haven't advisor. I've wanted by her and we did think it's ru and you know, I think that I don't look at that process as failing because I could've walked away with money. But I, I don't know. I don't. I don't know if the terms that I'm gonna demand are really going to be out there for me. So I wanna make sure that we can sustain and grow without the necessity of see, you know what I used to keep this thing on my site. I still like it little widget that comes up on the sites called proof. The tells whoever's on the site who just bought recently or who entered their Email address in a little social proof in people are supposed to. Subscribe and take action because they're also doing a lot of revenue building up. Their business proof is phenomenal product. I like I, you see is proof defend tastic. It's the kind of thing that you test for a while at works and then right. They're doing really well. The guy the founder told me the numbers that what how they're doing for themselves for their customers, but they don't wanna do they wanna be venture backed. So I had them here for scotch night with one of their advisors. A guy who's also an investor who's former entrepreneur then are talking about the widget. They are talking about how they are re shaping ecommerce and dude. You sit down and I ha ha come on your obviously your bullshitting. This is like the San Francisco thing to say, let's all get it on the Joe. And then after a few rounds of this or few paragraphs of their their pitch, I go, holy crap. These guys are changing everything. This is going to change all of ecommerce every site needed. They had that pitch down and you know what they are going for that they're giving up this really solid profit, really solid a business for that bigger, better dream that could be on every single ecommerce site you. It seems like maybe you didn't do that. Maybe you weren't willing to to present yourself as that it on..
"fifteen million dollars" Discussed on WCBS Newsradio 880
"You're never more than fifteen minutes from the big stories on wcbs i'm like a wallace i'm steve scott three things to know at six fifteen one three teenagers were killed in a crash on the metabolic parkway involving a stolen suv an underage drivers six other teas and an infant were hurt to special counsel robert muller has brought additional charges against president trump's one time campaign chairman paul manafort he's accused of obstruction of justice and three at the g seven senate president trump jokes that canadian prime minister justin trudeau had agreed to cut all tariffs and trade barriers between their countries that prompted some laps but trudeau said trade will continue to be a topic of discussion six sixteen a wcbs what of money jersey last month fifteen million dollars powerball jackpot tie swami stepped into the limelight today to news conference at lottery headquarters in trenton he says he bought two tickets for the lottery the first one didn't win a darn thing but then he looked at the other one the second ticket it was good they see two dollars for donald's but a seat must be see by the retailer he says he was so nervous after realizing that he'd won that he had trouble driving home i guess he's originally from africa came to the us twenty two years ago the married father of four has decided to take the money in a lump sum so he'll get just over one hundred eighty three million dollars after taxes mayor de.
"fifteen million dollars" Discussed on WBAP 820AM
"I'm these eight meteorologist colleen coyle overnight tonight partly cloudy skies with temperatures in the lower seventies tomorrow through the rest of the week we stay in the nineties partly sunny skies for the afternoon keeping a low rain chance mainly east of dallas fort worth over the weekend we remain dry lots of sunshine and temperatures are heating up we got the mid to upper nineties over memorial day weekend get ready for hot and humid conditions for the unofficial start of summer right now it's seventy five degrees dfw airport the nfl is implementing a rule to prevent players from protesting national anthem on the sidelines before games the new policy allows players to stay inside the locker room but if they kneel on the sidelines during the anthem the team can be fined the team will have its own work rose will be consistent with the overall policy and they will make their own decisions about how to manage that from their nfl commissioner roger goodell says punishing a player who does neil will fall on the team the policy was unanimously approved by league owners at an owner's meeting in atlanta clayton neville wbz ap news crossing guards at dallas schools will soon be paid for by the city of dallas with the abolishment of dallas county schools who previously paid for the guards the city council approved a three year deal for just over fifteen million dollars to pay for the guards city councilman ricky callahan eighty five percent of the crossing guards are going to build a retain their possession and we'll obviously began recruit others we may have some volunteers in some spots and more than thirty volunteers will work schools in low traffic areas again mostly clear overnight with the low near seventy degrees we'll see a high near ninety tomorrow under mostly sunny skies right now it's fair in seventy five degrees.
"fifteen million dollars" Discussed on Talk Radio WPHT 1210
"In the bridge gate scandal exceeds fifteen million dollars it's your buddy chris christie over there fifteen million dollars we've now they were just in the third circuit court bridget kelly and bill baroni yeah last week that's right down the street so there they are working to appeal but this is this is interesting now data forensics firm stowe's friedberg bill the state about seven hundred thousand dollars in two thousand seventeen and more than sixty thousand in two thousand eighteen and then all of this in all of it the costs were christie to defend himself and all these other people to defend themselves fifteen million dollars but those bills do not reflect nine point one million paid you gibson dunne and crutcher which produced a report that cleared christie of a connection to the politically motivated lane closure it also does not include the two point one million pages to king and spalding spalding who employed christie's former personal attorney christopher rai raised now the director of the fbi so you add up all this and it's more than that and a lot of money here in the to defend the bridge gate thing there's a lot of money but the good news is though we still have plenty of money left for him to spend eightyfive thousand dollars on his picture his portrait that's good and he's still doing that yeah well look i mean these australian artists have to eat australian artist the gotta do it the state also pay thirteen thousand dollars to the firm of allston and bird in two thousand seventeen to represent christie during a citizens complaint over the bridge closing he was represented the case by craig carpet neto currently serves as a us attorney for new jersey so all in over fifteen million dollars in the bridge gate legal fiesta what's the rule that i always say in life you always say the lawyers always always win always weeks get paid when those when that bridge those lanes got shot they were lawyers going aw baby where closing shop early this year the odor full always the way it is the total taxpayer tab will keep growing and growing they say we're only at the beginning of how much is the low cost so good to be a lawyer i guess and politically connected firm in new jersey so did you watch the white house correspondents dinner.
"fifteen million dollars" Discussed on KYW Newsradio 1060
"Fifteen million dollar good faith deposit back there's no indication any money is changed hands between maxis and virtual in fact their statement stresses there is no final agreement but if successful the move could significantly boost virtuous business footprint in south jersey david madden kyw newsradio walmart employees are seeing extra money in their latest paychex walmart is headed up billions of dollars worth of bonuses to employs across the country the arkansasbased retail giant says workers will receive up to one thousand dollars in extra pay in this week's paychecks walmart says the bonuses total more than half a billion dollars i'm bill michaels a man has been arrested in connection with a vicious sexual assault and robbery that happened over the weekend in center city a second suspect there remains on the loose this crime was caught on surveillance video here's kyw use andrew kramer it was early sunday morning authorities say a woman was walking near 13th th lombard street when she was approached by a man police have identified as forty four year old archie swenson also known as archie moore who immediately attacked a runner down the former block of south watched where he continued to assault her physically posture about the face and they also performed a sexual assault at philadelphia police captain sekou khin abreu says video of the incident chose another man who believe that at some point during this altercation that that second male head possession of the victims items that were stolen from that second man 38yearold kenneth fakes now who also goes by the name rashawn sean spanned has been arrested and charged with multiple offenses including aggravated assault robbery and rape the search for the other suspect continues at police headquarters andrew kramer kyw newsradio and you can see the surveillance video and pictures of the suspects that kyw news radio dot com he will be news time 522 it is time for traffic and transit.
"fifteen million dollars" Discussed on KKAT
"On solar water heating and income tax deduction for movie theater productions costing under fifteen million dollars it senator dement former senator demand who has raised this this list is an at conservative review there's a lot more in there the republicans promise to simplify the tax code and stop coddling specialinterest groups like hollywood in the energy lobby as they right itziar but now that they've pass tax reform and people stopped paying attention the gop shoehorning many special tax breaks into a four hundred billion dollar budgetbusting spending bill would know cuts in spending to pay for them not increasing the size of government giving handouts the special interest groups this is not a party that represents conservative voters because it's not a party that's conservative and paul ryan thinks this is swell and once we get this passed one move on the daca the next item on the democrat list the next item on the democrat list no what do you think about this quinn hillier riding over at the washington examiner the federal budget deal worked out on the senate on wednesday is wildly irresponsible that how soda rejected overwhelmingly in if it doesn't then president trump should veto at the minute hitches desk but he won't because trump says he likes it because it's a deal the agreement would bust existing budget caps not just for desperatelyneeded military spending but for a massive explosion and domestic discretionary spending that is neither necessary nor affordable the new social spending has advertised as some one hundred thirty billion dollars for.
"fifteen million dollars" Discussed on NPR News Now
"Are paid out fifteen million dollars in overtime but officers are still owed more than thirty five million authorities say part of the problem is they have to wait for fema reimbursements meanwhile security during the holidays is a rising concern governor guzzled on schedule said he does not intend to call the national guard to compensate for police absences the governor's office says it will make a six million dollar disbursement on december thirty it for npr news i'm cave on antonio heydari you're listening to npr news the white house is condemning the suicide bombing that killed at least forty one people and injured dozens more at the shiite muslim cultural center in kabul press secretary sarah sanders says the us stands firmly with the afghan government and its people the islamic state has claimed responsibility for thursday's attack israel is once again extending the detention of a teenage palestinian girl arrested last month after being videotaped hitting soldiers from jerusalem npr's daniel esturine reports that the detainees being portrayed as a symbol on both sides of the israeli palestinian conflict israel says the soldiers had gone to the girls house to remove youths throwing rocks the video shows the girl striking a soldier and shouting at him and another soldier until they walk away from her after the video was posted online many israelis were outraged and israeli forces arrested the girl as well as her mother and cousin who were involved in the skirmish for many palestinians 16yearold ahead.
"fifteen million dollars" Discussed on WCTC
"Two that are still serving right now they wouldn't name names which i think is creepy elsa said there was a senator that is known for doing this that is active right now they also talked about the creep list and why staffers stay away from a lawmakers who sleep in their offices and don't write elevators and all those terrible things and then jackie spear revealed a r r a pay out fifteen million dollars to victims of harassment there are at the capitol fifteen million dollars from a slush fund that nobody ever knew nothing about why did a little digging we found out some stuff about it so check this out check this piece information now admittedly it's from hashtag fake news cnn but let me let me let me give you the details so these are fifteen million dollars outs to people who have suffered harassment or discrimination they don't discern between how many people were for sex harassment or or sex discrimination who might have been a victim of racial discrimination or your gender identity discriminate is just basically a discrimination and harassment sort a pile of money the time period covered in that fifteen million dollars is nineteen ninety seven two two thousand sixteen got me so far this is the shocking number two hundred and sixty settlements paid out since it in that twenty year would two hundred and sixty payouts you'll hear about any of them i didn't and i paid i pay attention i've got some college i pay attention to the news i never heard anything about these settlements to her credit and believe me it's hard because she is a big time leftist to her credit she is trying to get transparency put into place on this on these are settlement payouts and spear and comstock what they're trying to do is push through this act called the me to act which is just about you know it training and sex harassment training and information that that sort of stuff but i like this little bit this little bit i think is really is really great they are putting in effect through this through this legislation if it passes both houses and becomes law they are putting through a regulation that says if you are a congress member or a senator and somebody in your office harasses and a settlement is paid out you are on the hook personally to reimburse the taxpayers.
"fifteen million dollars" Discussed on Bloomberg Radio New York
"The range of fifteen million dollars per year the extent to be in the interest of it alone are far in excess of that at least according to a second kennedy arrangement by which over time the lawyers at the law firm as well as it american companies to the management company managers were also lawyers earn please allegedly without being reduced california law a law that the many other state that make the agreement wait a full day in the complaint jet claims that he was presented only with the signature pages of the loan relied upon his lawyers and he signed the loan documents how does it attorneys fiduciary duty can pair to the duty of his business managers it really legally not much different and i think really do both the management and the law firm case are going to come down to the wall component appeared today in the overall context of those relationships in both instances i suspect that the communication or similar mostly properly and we're gonna have a lot of emails we'll have the meeting calls there is apparently according to the management case of the management company that will testify against the management company to dirty or the stuff i think that the term used in a complaint that the management wanted her to do that he refused to really it's going to come down to the will it again which is why it's so much more likely to lead to a trial and many other types of cases well that will be a trial that will be closely watched not only because of death but because of the implications for attorneyclient relationships in hollywood thanks for being on bloomberg law that's david singer founding partner at bay singer ashmunin williams a spokesman for jacob bloom and his law firm told afp that the firm disagrees with dap and his counsel on the law and the facts and intends to defend the lawsuit vigorously coming up on bloomberg law the fourthlargest jury award of the year has been erased a judge threw out of four hundred seventeen milliondollar talk powder verdict against johnson and johnson its second reversal in less than a week what will be the effect on the more than fifty five hundred suits by women claiming that the company's talcum powder.
"fifteen million dollars" Discussed on WEEI
"Going to have a backup quarterback making fifteen million dollars will you probably should have thought about that before you sign up to a threeyear 45 million dollar contract which is absolutely stupid who give might glyn at fifteen million dollars nothing but ma home team chicago bears make mistake after stake mistake vigo draft kevin white before that and he hasn't even player i don't know what's going on into the the chicago bears front office but something needs to change john fox's the head coach of this team he needs to stand up take control of this team and say we're going to put in the quarterback we're going to rally behind him we're going to be patient with him we're going to do something simplified he's a good athlete he could move he can bootleg he could throw the ball down the field he had a great time it he did he did well really good in the preseason i don't know why john thoughts of vince will you going to lose the tibor separate to because you've got half the team said okay i want my glynn and you got the other half saying give him a chance gift penske a chance i just think it's crazy you really think it's half there's no way half the team thinks that might have been starter i'd be fair i'm just trying to on here are you're a good move this week at around a year and friendly move this week but here's what bothers me fourteen minutes fifty four seconds remaining in the fourth quarter green bay gets on the board again it's thirty five to seven at the that point you have all whole quarter to put mitchell trubisky and i think that's what john fox's referring to as to why didn't at that point put him in you've a whole quarter for him to get his feet wet in the nfl get himself ready it's a real nfl regular season games something he hasn't done yet and if you don't put him in in that situation when the heck are you gonna put an end the and you're right this must be above him because they want to.
"fifteen million dollars" Discussed on KOMO
"Center here's some of the top stories for saturday morning firefighters this morning put out a house fire in west seattle it happened a long forty first avenue south west thousands severely damaged and one person was taken to the hospital they are expected to be okay no word yet on a clause after nearly a week of deliberation a federal jury in seattle has decided swat team members and five were wrong to kill an unarmed black man and fight the jury award the man's family fifteen million dollars leonard thomas was killed in front of his fouryearold son in 2013 during a four hour stay handoff with police police said he believed the child's life was in danger when they shot him part of that fifteen million dollar verdict includes a threemilliondollar ruling against lakewood police chief mark zakharov who was the swat team commander during the incident a new lab at washington state university is working on revolutionary new ways to use police body camps goma's pete combs reports this programme could help pinpoint areas were cops need more trading even in real time right now police body camps are being used to document officerinvolved shootings like this one in livonia georgia in officers shot during a traffic stop sure in washington state university's new csi lab in this case she stance for complex social interactions assistant professor david makine's as bodycam footage could do much much more well worded open the waiting period agreed to pay the training work or beaten or the program uses artificial intelligence to sift thousands of hours of bodycam footage looking for incidents were tensions run high those moments could be analysed and use to improve the way officers work in the field the program is still in its infancy but already police i've spoken with say the potential is there to vastly improve relations between officers and the communities they serve at a time when that improvement or so badly we needed pete combs komo news his squad police are trying to figure out why woman shot her boyfriend in the leg last night it happened on sixty th court northeast the man is at over like medical center in bellevue recovering from a gunshot wound to the guy he is expected to be okay about a million dollars worth of cars are in.
"fifteen million dollars" Discussed on KOMO
"To get the tire pressure checked and make sure you're not wearing out brake pads to thin so the metal itself doesn't spark or let's get right to steve pool in the warnings have been out but the stretch of dry weather has been going on for so long steve twenty seven days to be exact everybody and i don't see any relief in terms of getting some moisture in here as a matter of fact it's actually getting a little bit worse we've got some low pressure this way offshore need to get the low real close in order to bring some rain back in here but that's not going to be happening so we have a dominance really warm conditions and dry as well and it's even worse in eastern washington where we expect to have problems with this and not only that the winds will be rather gusty at times so a lot of things to keep track of is we go throughout the weekend and we're hoping it will begin to get better as we get the first part the next week i'll have more on all of this for you coming up in just two minutes thanks steve well we wanna know if you plan of follow the rules about bonfires and burn bands to vote click on the dry weather story a couple of news dot com and scroll down to that pole question right now seattle police are investigating after a man was shot dead while attending a memorial for man killed in another shooting on sunday these are live pictures from the seeded south oregon street near the rainier playfield investigators say tonight shooting was a driveby and they're looking for a dark colored sedan as well as a possible second car we don't know much about the victim police will only say that he was in his twenty's we just talked to the young set of a man who was shot and killed by police that man was clutching his son when a sniper shot him now a jury has awarded fifteen million dollars.