35 Burst results for "Forty Seven Billion Dollars"

Should Business Follow Data or Gut Feel?

Duct Tape Marketing

04:54 min | 5 d ago

Should Business Follow Data or Gut Feel?

"Hello welcome to another episode of the duct. Tape Marketing Podcast, this is John Jansen, my guest today's Reeves Wiedeman. He is a contributing editor at New York magazine. Also featured in New Yorker New York Times Magazine Rolling Stone Harper's, and we're going to talk about a book that is fairly new called billion dollar loser, the epic rise and spectacular fall of Adam Newman and we work. So reeves welcome to the show. Thanks for having me. So. Why don't you give away the ending for for for people that that may be have followed this story Kinda give us the like. Here's you know here's what was going on at the high level. Here's what happened. Yeah. Fair enough while while a lot of people may know it but but the the the short version of the rise of we work in an office leasing company started in New York City that in the course of a decade expanded all over the world The basic business premise was slicing up large office spaces into small glass. Rent out. By Twenty Nineteen they had more than four hundred locations around the world A also had apartments they had started in elementary school. and a variety of businesses that required a lot of money and so eventually in in thousand nineteen, they decided to go public at of gob smacking forty, seven, billion, dollar valuation and in pretty spectacular fashion over over a few weeks in the summer and fall of last year the. Collapsed out of Newman, the company's founder was was ousted and He's spending most of his time surfing. So you know and the future for him and for the company's still remains to be seen, but it was pretty pretty remarkable rise in in a pretty shocking and swift fall. So the at the from the highest evaluation to like when it all shook out, what did it shed about eighty percent ninety percent You're GonNa make me do some math but you're outright it. It got up to forty seven billion at least in this theoretical way, and and this past spring Softbank, which is, is we were primary investor mark it down to just under three billion, two, point, nine, billion so a. Pretty shocking loss value in a very short amount of time. So. What was it? You did a series of interviews with adamant obviously a lot of other people that show up in the book but what what was kind of the timeline for your interviews because it was really pre crash, right? Yeah. I mean, we when I was I work at New York magazine and we had I decided to do this story at the beginning of Twenty nineteen in the. Reason we did it was was because we work with growing so fast, and because it it suddenly was was everywhere. We have an office in in Soho and in New York and suddenly there were half a dozen of them just a few blocks of where our office was and so we saw it as kind of a success story. We knew there was sort of strange things about the company and. It became very clear to me as I as a after interviewing Adam Newman last April April Twenty nineteen shortly before the IPO was announced. And then talking to people who'd worked with him some members of his executive team that everything that was good and bad about we work revolved around Adam Newman. He he was the visionary. He was the sort of branding expert and he was the. That, was driving company, and then as it became clear, he was also kind of embodied a lot of a lot of what what went wrong. So my only instance as I did work out of we work in Dumbo one time. A few years. Was it nice. Yeah. It was nice. It was like all the kind of. HIP places in that part of town. Are. Very minimal decor. So. It's interesting. You brought up that idea of all good things and bad things because in reading through the book you almost. And and maybe other people. Have covered it this way to that it wouldn't have happened with him and it wouldn't have crashed with with him without him. I think that's exactly right and that's when when we wrote my first story and this was when the company was still on the rise we. I didn't come up with this but but the title one of my bosses did was with the I and we and and and you know it's just everything about this company. was. Just, CER- wrapped up in in in Adams great qualities which which company grow and then things kind of centered off off the rails.

Adam Newman New York Magazine New Yorker New York Times Maga New York City Reeves Contributing Editor John Jansen Softbank CER Dumbo Founder Soho Adams Executive
Should Business Follow Data or Gut Feel?

Duct Tape Marketing

04:54 min | 5 d ago

Should Business Follow Data or Gut Feel?

"Hello welcome to another episode of the duct. Tape Marketing Podcast, this is John Jansen, my guest today's Reeves Wiedeman. He is a contributing editor at New York magazine. Also featured in New Yorker New York Times Magazine Rolling Stone Harper's, and we're going to talk about a book that is fairly new called billion dollar loser, the epic rise and spectacular fall of Adam Newman and we work. So reeves welcome to the show. Thanks for having me. So. Why don't you give away the ending for for for people that that may be have followed this story Kinda give us the like. Here's you know here's what was going on at the high level. Here's what happened. Yeah. Fair enough while while a lot of people may know it but but the the the short version of the rise of we work in an office leasing company started in New York City that in the course of a decade expanded all over the world The basic business premise was slicing up large office spaces into small glass. Rent out. By Twenty Nineteen they had more than four hundred locations around the world A also had apartments they had started in elementary school. and a variety of businesses that required a lot of money and so eventually in in thousand nineteen, they decided to go public at of gob smacking forty, seven, billion, dollar valuation and in pretty spectacular fashion over over a few weeks in the summer and fall of last year the. Collapsed out of Newman, the company's founder was was ousted and He's spending most of his time surfing. So you know and the future for him and for the company's still remains to be seen, but it was pretty pretty remarkable rise in in a pretty shocking and swift fall. So the at the from the highest evaluation to like when it all shook out, what did it shed about eighty percent ninety percent You're GonNa make me do some math but you're outright it. It got up to forty seven billion at least in this theoretical way, and and this past spring Softbank, which is, is we were primary investor mark it down to just under three billion, two, point, nine, billion so a. Pretty shocking loss value in a very short amount of time. So. What was it? You did a series of interviews with adamant obviously a lot of other people that show up in the book but what what was kind of the timeline for your interviews because it was really pre crash, right? Yeah. I mean, we when I was I work at New York magazine and we had I decided to do this story at the beginning of Twenty nineteen in the. Reason we did it was was because we work with growing so fast, and because it it suddenly was was everywhere. We have an office in in Soho and in New York and suddenly there were half a dozen of them just a few blocks of where our office was and so we saw it as kind of a success story. We knew there was sort of strange things about the company and. It became very clear to me as I as a after interviewing Adam Newman last April April Twenty nineteen shortly before the IPO was announced. And then talking to people who'd worked with him some members of his executive team that everything that was good and bad about we work revolved around Adam Newman. He he was the visionary. He was the sort of branding expert and he was the. That, was driving company, and then as it became clear, he was also kind of embodied a lot of a lot of what what went wrong. So my only instance as I did work out of we work in Dumbo one time. A few years. Was it nice. Yeah. It was nice. It was like all the kind of. HIP places in that part of town. Are. Very minimal decor. So. It's interesting. You brought up that idea of all good things and bad things because in reading through the book you almost. And and maybe other people. Have covered it this way to that it wouldn't have happened with him and it wouldn't have crashed with with him without him. I think that's exactly right and that's when when we wrote my first story and this was when the company was still on the rise we. I didn't come up with this but but the title one of my bosses did was with the I and we and and and you know it's just everything about this company. was. Just, CER- wrapped up in in in Adams great qualities which which company grow and then things kind of centered off off the rails.

Adam Newman New York Magazine New Yorker New York Times Maga New York City Reeves Contributing Editor John Jansen Softbank CER Dumbo Founder Soho Adams Executive
United is first to cut US flying due to virus outbreak

AP News Radio

00:48 sec | 8 months ago

United is first to cut US flying due to virus outbreak

"With companies grounding workers and canceling conferences the global business travel association estimates the virus is costing the industry forty seven billion dollars a month United Airlines is announcing reduced flight schedules asking some workers to volunteer for unpaid leave the announcement came after United CEO Oscar munia was met with colleagues at the White House to discuss travelers health safety Muzio says as a heart transplant survivor poster child for the individual that could be affected by this I am it is over the age and I have needs the department of homeland security says it screened more than fifty three thousand air travelers preventing some from entering the United States and thank the airlines for helping with their travel histories I'm Jackie Quinn

United Airlines Oscar Munia White House Muzio United States Jackie Quinn United CEO Department Of Homeland Securit
SoftBank shares skyrocket in Japan after judge approves T-Mobile and Sprint merger

Squawk Pod

01:43 min | 9 months ago

SoftBank shares skyrocket in Japan after judge approves T-Mobile and Sprint merger

"Bancshares. They are soaring Japan overnight. who was the socks first opportunity to trade after the? US approval of sprints merger with T.. Mobile southbank for a major shareholder era of sprint. But don't expect the games to last long. The company reported results after the close in Tokyo. Third quarter profit was nearly wiped out by losses of one hundred Billion Dollar Vision Fund. If you've talked so much about that fun posting an operating loss of more than two billion dollars seal massive son defended banks performance saying the Vision Fund has gained about a three billion dollars on its investments since the beginning of this year so the losses for ending ending in December correct and. He's saying that it's been turnaround since then right also because of how they were again. The Vision Fund is marked right to whatever. That's the question question. However you know it was interesting because we interviewed Marcello the other day and night and we didn't get to talk about this the forty seven billion dollar valuation that we all talked about with we work our way working and we all talked about as as something that they were marking up themselves? Mini was one of these smoking on supply. kind of situations where you're just making up your numbers. They had never marked entire investment of forty seven. They marked sort of like the taxation there now five no no no no I know but that was not not the high water mark was really not saying we didn't lose forty ten billion dollars. No not even that that a majority of their steak was never. That was never that high so tell us the real numbers. It's it's a lot lower hobbies but it's just I think I think the headlines in how we've all described arrived I can understand is a little bit skewed.

Vision Fund United States Japan Tokyo Marcello Mini
2019: The year business went 'woke'

FT News

08:00 min | 10 months ago

2019: The year business went 'woke'

"Twenty. Nine hundred was the year when Saudi Arabia launched changed long-awaited share offering in state oil company. Aramco D- when Softbank lost its gloss when accounting giant tighten belts and when capitalism went woke. I'm I'm joined to discuss the corporate year with our companies editor. Tom Breath weight and Brooke. Masters are comment and Analysis Edison. Tom Can start with you. Can you tell L. is what happened with the Saudi Aramco IPO. Well it happened. Finally which is serve some progress because it took months and months of delay and eventually This massive oil company floated in Riyadh and now does have the two trillion dollar valuation that was so coveted by Prince. Mohammad bin Salman. Why did it take so long investor skepticism in short? I think one problem was that the Saudis would have liked to have listed this in New York which is the the biggest steepest capital market in the world but the main problem there was that they could have been sued for their alleged role in the nine eleven terrorist attack ax which Saudi Arabia has always denied it opens the window to litigation in the US which they desperately wanted to avoid so. That was one problem that the other problem was that most international investors did not think this oil company which is still fairly. Oh pay can still very much. Under the control of the Kingdom could justify the valuation valuation particularly at a time when oil prices have fallen. And when there is great concern about global companies in a world where carbon one is considered toxic change. They Saudis raise the money. Yeah well it got its public oil company to the local market in Riyadh. What it couldn't do was securer hefty amount of international investors so there was a lot of pressure on local Saudi investors? Some of whom were the same people. Who'll who were held against their will at a hotel the Ritz Carlton Reminders? What happened then? Back in two thousand seventeen. Several of Saudi Arabia's richest families were held old at the Ritz Carlton Hotel People like Prince. Alwaleed who is quite knows. International investor ended up with an enforced stay whilst their assets assets were probed by the state and ultimately some of those assets were confiscated by the state so these same people Saudi Arabia and knocked on their door and and said we'd really like you to buy into the Saudi Aramco. IPO and these people generally said yes. Yes we would very much like everyone else. We would like to buy the shares and so they did and it is floated and this little sliver of equity has been sold. And that is what justifies the two-trillion-dollar evaluation. Now it's not really like apple apple of a massive mega capps who's stock as freely traded. So if and when that ever happens we might get a more realistic assessment of what it's worth. Burke Saudis been a big investor in South Bank and the Vision Fund which. We've had corsage about this year. How Will Scaling Down with the IPO effect Saudi Arabia's ability ability to continue money into what I think we now call the troubled Japanese fund presumably? It might make it more difficult. I mean Saudis already having having to raise more money to diversify the economy and so presumably. They're not going to want to be quite to free with their cash. And of course Softbank is probably not the place that they I would like to put their money anymore. Anyway because Softbank itself by Maceo she son has taken some really big bets on companies that have not so far come good specifically specifically. I think we work would be the most obvious one. which is the shared office? Space Company tried to list and failed to at which point not only did it not sell equity but but it's lenders decided not to lend any money and Softbank had to go rescue it and its valuation has been cut significantly. I'm sure Tom knows exactly by how much he's about. Tell us I think I think from forty seven billion dollars. They tried various levels down but ultimately ends up with a sub ten billion dollar evaluation as you say failed to go public. Can they continue each trade. Yeah I mean as long as Softbank and others are willing to continue to pour cash into it because it is still heavily loss-making but the other thing they've done is scaled back their a growth strategy. So they are not spending as much money on new builds so they think they can get to somewhere near break even in the coming months. They've also filed a lot of people which helps so frank's image of takes quite a battering its credibility. How does that affect its ability to keep them investing well they have been trying to raise a second fund and it has not worked worked as well as one would hope? It's particularly problematic because as you may remember. Their first fund has an extremely unusual structure where it's not just people putting in cash. It's people putting in cash and then also they had to put in loans basically so they don't have as much cash as your classic Private Equity Fund. What have they actually have to pay interest on the money? They've got so I think if they don't have success relatively soon the way it's structured means that the lack of success will be magnified and make it that much harder for them. Son has apologized already. Instead he was to credible and he has also started putting a new governance requirements on the companies that the fund invests in food for them. I've always always been skeptical about some of the companies have invested in some of the valuations. They've invested at. They seem to have got quite late into the private tech game and got into in a massive way EH. One of the most ridiculous investments was wag this company that walks you dock for you which they've just finally pulled out of we. Work is the big characteristic Batson if that went well then or would be fine. But it hasn't so I mean Masan has this ability really proven alibaba to pick one winner that has generated a massive amounts of return. So if there's just one company within this portfolio then it could be judged a success but if you look at companies like Uber which I showed this year and his now full and a third in value if you look obviously we work and the marginal bets like y than as little really to say that this thing is going to be success for the big four. They've had quite the twelve months with so many scandals. What would you say? What did they end up this year? What's interesting is it hasn't been as bad? That is you think I mean. They have been criticized and find record fines record discipline for dreadful audits of companies that leader went bust but in an actual practical level. Their revenues are up and their dominance of the auditing business of the footsie. One hundred is up. They have taken taking a lot of terrible press. And they're probably. I'm guessing having a harder. Time recruiting best in the brightest. But I would not cry for them. The thing to remember is this time last year. The kingman kingman review was suggesting that they ought to be separating audit from other other businesses. Maybe broken up do all this stuff and then the CMA. The competition and Markets Authority authority in April said the same thing and they're going to move forward but nothing has actually happened so in fact life continues for them they still make a lot of money. KPMG I'M G. which is the one that has struggled more than the others has been involved in more of the scandals and also it has had prophets problems and so it has had to do meaningful cutbacks? Axum TRIMs They had famous where they stopped paying for people's phone calls and they took a lot of bad press. But I think it's worth remembering that. If you go back maybe a dozen years. You could've made exactly the same argument. Lots of concern about their dominance of the auditing market. Lots of concern. That audits weren't going well. This is remember post Enron and all that sort of thing and there were four them and there are four now so could they to relax a bit and feel that they've survived the structure phone calls over. This will come back. It's not clear. Their regulator has a new person. WHO's in charge of WHO is actually a serious guy and it is possible? He will try to do more at the moment. There's no legislation giving power to him to do more. It will really depend on how much Boris Johnson government cares about this stuff. I mean it was on the agenda of the previous government. Is it now. We don't

Saudi Arabia Softbank Saudi Aramco Ipo Tom Breath Riyadh Saudi Aramco Aramco Mohammad Bin Salman Editor Ritz Carlton Hotel Analysis Edison Private Equity Fund L. Enron New York Boris Johnson South Bank
What were 2019's biggest tech stories?

The 3:59

05:38 min | 11 months ago

What were 2019's biggest tech stories?

"Recap this year in tech I up Amazon had a bunkers here in two thousand eighteen the whole H. Q.. Two beauty pageant backfired not to mention backlash about worker safety. And and big BEZOS MELODRAMA BAN summit up it was bad it was a bad year a bad year especially because a lot of it really came. Ah It percolated. Well outside the tech sphere right. It's one thing to really have an embarrassing data breach or something that's still exists within the world world of tack within the bubble that we exist. The bezos divorce was uncomfortable. I'm sure for a lot of people working Amazon for a number of reasons and it became like this big drama that existed basically everybody was like waiting breathless to find out what the world's most expensive divorce was gonna look like the cutest thing was the same thing where it became a big national story. Where New York getting this very very sought after project ended up throwing it back in the river and saying no? We actually don't want this and it was. It proved to be a pretty embarrassing situation for Amazon and something. That's been an ongoing concern with Amazon. It never really bubbled up to the surface like this before but worker. Safety and distribution centers feels like this year. People really started to grapple at the fact that there may art maybe serious problems about it now. It definitely got a lot of attention this year if not more attention but this is something that it has been percolating for. This has been something. That's been percolating for years. Now and it's it's getting a lot more attention. I feel like to a certain extent. H Q two was a platform for which wjr people were able to voice their grievances about the company and one of the problems. There was that it didn't stop with Amazon just leaving New York like some of the protests tests about the company. I've still been going on so as far as worker safety issues. As far as working with immigration authorities people are still really griping about that add and I think looking for the company to make some changes. Yeah well our next story of the year actually involves Amazon to basically every major voice assistant. That means Amazon. Google facebook apple and Microsoft. They were all sending anonymous recordings reviewers to grade. How voice assistance worked now and this has been the case for years? Here's but kind of like with workers safety. This is something that seemed to reach the point where the public wised up to it and said Knicks right so one of the interesting Disconnects here was that A lot of the folks that worked invoice computing. Were like yeah. Of course we're doing this. You don't create You know voice assists in and then leave it on the shelf and expected to just keep developing on its own A needs continual human interaction to be able to direct it and move The right way. Because there's garbled text or there's garbled speech there. There're accents there are a number of different ways that you have to really improve the technology The problem was is that they didn't really educate the public on this and then they should make it an opt in situation for any but no no and I think that was really what made people uncomfortable was is that it was a it could potentially have been my recordings and could have been your recordings. It could have been anybody's now. There are more opt-in features or opt out features but they probably should have done that and Earlier this is still a new technology. So that's somewhat understandable there but Yeah they definitely lost trust. There's no question they're all. Those companies did related to that. Yeah another lost. Some trust we work. It began the year hot with an eye watering forty seven billion dollar valuation and but then came. The meltdown. Happened fast. It's IPO filing revealed a web of questionable practices and bizarre behavior by its CEO and everything collapsed within about a month we works valuation plummeted to five billion dollars or one point basically a tenth of what it was so. Do you think this was the reckoning for these over-inflated were inflated ambitions for quote Unquote Tech Companies. I I mean. I'd like to believe that but I really don't think so. I'd love to hear your opinion on this because I've been droning running on about Amazon stuff but Softbank is still a major investor. We worked in not implode they did not go belly up their CEO quit. That's true. Fire had a lot of problems but we work as a going concern continues to exist and live to fight another day a good example of another company that had to from from my consideration and inflated value and was kind of on the road to being another one of these lousy companies was uber. Uber is now a publicly traded company. They're still having a lot of struggles but It's not like they went into bankruptcy. Either yeah my the thing that I question about it is that we work like to pitch itself South as tech company right because they have wi fi in their buildings like. They're not right a lot of a lot of other real estate eight development companies. Do that do the exact same thing in this. Like very non sexy space for years. And they're like what's going on here. Well that was the thing what what's going on there. A lot of like bizarre stuff. Yeah so hopefully investors wise DUB by. There's a lot of funny money that exists not only in Silicon Valley but in New New York all over the world. And you know you gotTa Interesting Pitch. You've got an interesting front person. That's presenting some something that that sounds like. It's going to be the next hot thing I could definitely. This is not the last time it's going to

Amazon New York Bezos CEO Knicks Silicon Valley New New York Google Microsoft Softbank Facebook Apple Forty Seven Billion Dollar Five Billion Dollars
Silicon Valley Adjusts to New Reality as $100 Billion Evaporates

WSJ What's News

03:34 min | 11 months ago

Silicon Valley Adjusts to New Reality as $100 Billion Evaporates

"Our main story. This morning it has to do with Silicon Valley's UNICORNS. These are the companies that are not yet public but are privately valued. So you'd a billion dollars or more it's been a rough year for those big startups after the disappointing performance of Uber and Lift Stock Post Their IPO's and of course we work a botched attempt to make it to public markets. Heather Somerville has been telling Jr Wayland that. It's caused some soul-searching in Silicon Valley. So heather what kinds of numbers are we talking about. In terms of the money that's been wiped off of balance-sheets we're talking about between four companies. We Work Jewel Uber and left. Now these these were the most highly valued companies When they were private having lost roughly one hundred billion dollars since the first quarter this year other companies have lost valuation as well but just looking at these high flyers how far down they have come? It's quite significant significant in terms of value destruction and heather. How did the collapse of we work affect the startup market? Well we work is but one company and certainly an extreme extreme example at that that company really was a flash point for silicon valley the fact that it went from forty seven billion dollar company to being valued right at about eight billion dollars was a rude awakening for just about everybody. It really caused people to take pause particularly investors who suddenly became very worried. That do they have a we. Work like company in their portfolio and the limited partners invest in venture capital firms suddenly started asking that question in as well that was a huge turning point for Silicon Valley does a shadow that's been cast over the venture capital world and it has at least in the short term change. Some of the rules calls. There's certainly been some soul searching going on in the venture capital community this includes startup founders. Really being pressure we're to find profitability in their businesses when previously they've gotten away with just hyper growth and cash burn. We're seeing this in companies like lime time the scooter renting company which has been pressured to turn a profit in the cities in which it operates. We're seeing this. Also in other companies is that are suddenly declaring. They're going to be profitable and adjusted basis either next year or the following year when previously startup. CEO's didn't talk about profitability. They just talked about growth. Both these are changes. We've really seen in recent weeks in recent months but the startup industry still awash in cash coupled with low interest rates. Now what does that mean for the market going going forward. I I will say that while. There's an air of caution an I say a bit of more humility among start ups and investors that is very tangible around Silicon Valley. There is a significant caveat. And that is that there are several venture capital firms such as founders fund which is raising a three billion dollar fund norwest ventures just close a two billion dollar fund that have udalls noodles of cash that they still have a mandate to invest. In addition there's monetary policy across the globe Keeping interest rates historically low as zero or negative. Those is factors mean that the spigot isn't going to turn off for these tech startups. There will still be ample money available. It just might be deployed a little bit more slowly Louis and the conditions around which that money is deployed. might get

Silicon Valley Heather Somerville Norwest Ventures CEO Louis Jr Wayland One Hundred Billion Dollars Forty Seven Billion Dollar Eight Billion Dollars Three Billion Dollar Two Billion Dollar Billion Dollars
"forty seven billion dollars" Discussed on KCRW

KCRW

01:59 min | 1 year ago

"forty seven billion dollars" Discussed on KCRW

"So Adam Newman becomes fantastically rich he also indulges his eccentricities and he was known to walk around the office barefoot but now he's installed a private plunge pool in his office a cold plunge an infrared sauna and his office employees said that there was just free flowing booze all the time a lot of marijuana a lot of these summer camp kind of weekend retreats people would get drunk and they dance around a fire singing to journey and other sort of animal house antics but always infused with this like larger purpose Adam will get on stage with like Depok Chopra and addresses employees and it was this culture of we work that was very specific to kind of Adam's vision for the company so any as I don't know man becomes is larger than life character as we work as opening offices all over the United States all over the world and is this term we start to get applied to all areas of life people starting to question whether this is getting just a little too big and whether it's all kind of adding up by and large people looked at what Adam had accomplished we work on every corner as you said in over iconic buildings and they believed in what he was selling and then on top of that you throw en masa this Japanese tycoon who had made a fortune investing early on in these founders Ali Baba Yahoo lobar Airbnb just based on gut instincts and if he believed in Adam why shouldn't everyone else so we work does what successful start ups do they prepare to go public meaning they can sell their shares to the public there's a valuation on the company forty seven billion dollars that makes it the most valuable start up in the country and part of going public they have to disclose everything and paperwork.

Adam Newman marijuana Depok Chopra United States Airbnb Ali Baba forty seven billion dollars
"forty seven billion dollars" Discussed on News Radio 690 KTSM

News Radio 690 KTSM

04:10 min | 1 year ago

"forty seven billion dollars" Discussed on News Radio 690 KTSM

"Dog on Wall Street with Chris more costly yeah yeah a young man standing on our route locker room play list a way way way way back in the day Love Me some AC DC anyway we'll go back and watch dog I'm all for sure I am this guy this guy is it cracked me up we work we work in the division funds well the vision funds came out this past week and they're around the real sorry that the lost billions and billions of dollars on many investments out there it reminded me of it reminded me of this under rated clearly under rated nineteen eighties film better off dead and lane Meyer tells is a neighbor Ricky that he's you have real sorry your mom blew up Ricky bombers drink and some turpentine and smoke a cigarette had a bit of an accident anyway yeah yeah real sure we we lost he's you know we had a valuation of a forty seven billion dollars on the company and we got shot at that price and you know now the things worth four billion five worth that much anyway I'm email the week wonderful get a lot of good emails I'm well I should probably says for a first I I I haven't had time to get back to to everyone I all the everyone who reached out and condolences in many ways whether invite email phone call our Facebook fan page very is different ways condolences for the loss of my father liked I can't thank you enough I appreciate that I really do but I I you know I really like as I like it when I like my yacht sarcastic listeners the ones that like to make fun of me and there's is a couple out there the couple out there because they they recognize that I am half Italian half Polish and there's the Italian crowd out there that loves to make fun of the fact that I'm half Polish and again we're not politically correct you're on the program so I could give a damn but this past week on the podcast I was talking about peloton and I want to bring up your the programs that you know what why not the CEO peloton they peloton and I I don't understand what keeps going down actually comes out it is say that my numbers are really good it was mentioned as one peloton went public and I mention on the podcast this past week I had put together my my office Jim here I was looking into a peloton as well and I'm saying a miserable with respect I got to spend two thousand plus dollars on the bike or the treadmill and I gotta pay you every single month watch somebody yell at me through and I crazy anyway yes and one of my listeners I work out every morning on an old eighties nordictrack when I plug in and it works the upper lower body while listening to some Polack from Long Island run his mouth on his podcast that would be what fallout if you sit ups and push ups that at sixty nine years old on the star my listeners god bless them all watchdog on Wall Street in fact watchdog on Wall Street dot com don't go anywhere this war because he is the one dog almost if you're driven by an adventurous heart you're in luck the Subaru outback is.

Chris forty seven billion dollars sixty nine years
WeWork And The Future Of Coworking

NPR's Business Story of the Day

03:54 min | 1 year ago

WeWork And The Future Of Coworking

"This message comes from NPR sponsor xfinity some things are slow like simple easy awesome more at xfinity dot com restrictions apply after investors took a close look at the company's books and lost confidence in what they found there here is Stacey Vanek Smith and Cardiff Garcia from NPR's Daily Economics podcast. The came we work we work was not boring or beige it was this whole new way London earlier this year the company was estimated to be worth forty seven billion dollars Sir look at we works books and investors freaked out the companies rolling company I'm all Sarda is the CEO of a company called Motel which he would basically no tell does compete with we work yeah though Amal does say that they have different companies and it will probably benefit from we works implosion though a mall says probably L. Answers or working for tiny startups most of us just worked for big boring companies enterprises. They believe they're big oh in the last couple of years we worked did start to target bigger binny's on the other hand tend to make for more stable tenants and also they just have more money five hundred dollars a month and that is just for access to the lounge common area if you want in extremely price sensitive and they have much cheaper options and if those

NPR CEO Stacey Vanek Smith Daily Economics Cardiff Garcia Amal London Forty Seven Billion Dollars Five Hundred Dollars
Fiat Chrysler confirms talks with France's PSA over potential tie-up

WBZ Morning News

00:30 sec | 1 year ago

Fiat Chrysler confirms talks with France's PSA over potential tie-up

"Only that we soon could see a new job or not in the global automobile business fiat Chrysler and Francis P. S. a parent company of Peugeot and the number two car company in Europe confirmed they're in talks on a possible combination that would create one of the world's biggest auto groups combined fiat Chrysler Peugeot would have a stock market value of forty seven billion dollars leapfrogging General Motors and rivaling global leaders Volkswagen and Toyota the after mentioned General Motors is among companies guides post earnings today along with apple and

Chrysler Peugeot Europe General Motors Volkswagen Toyota Apple Fiat Francis P. S. Forty Seven Billion Dollars
WeWork And The Future Of Co-Working

The Indicator from Planet Money

02:26 min | 1 year ago

WeWork And The Future Of Co-Working

"The office it's boring it's Beige. It is full of drones in suits who are just counting down the days until retirement and then came we work we work was not boring or beige it was this whole new way to see work and to see the office this were cool had art books in India music and neon lights and lounge couches and open kitchen areas where people could congregate and drink free cold brew coffee and draft beer it was young and social and full of freelancers entrepreneurs in tiny startups that were you know going to change the world and personally my biggest nightmare but it is true that the on Sept took off we were rented out office space in cities all over the world and even became the big ten in New York Washington DC and London earlier this year the company was estimated to be worth forty seven billion dollars and a lot of competitors cropped up but we work was the five hundred pound rila its name was synonymous with co working and then people took a closer look at we works books the company had a staggering amount of dead and the management was making all these weird decisions and investments like sinking tens of millions of dollars of works money into a medical marijuana company a we work school a superfood company that makes mushroom coffee and to Merick CREAMER YEP and investors freaked out the companies estimated value was slashed from forty seven a billion dollars to eight billion dollars that's like eighty percent of the company's net worth that just went up in smoke Softbank which has bankrolled a lot of we works growth took control of the spiralling company and no surprise we work CEO got pushed out surprise he got more than one and a half billion dollars on his way out and I life and we workers are already seeing some changes there's notices about of course certain staff being unavailable in their re vamping up

Softbank Marijuana CEO India New York London Washington Billion Dollars Forty Seven Billion Dollars Eight Billion Dollars Five Hundred Pound Eighty Percent
SoftBank clinches WeWork takeover deal, bailing out co-founder

KCBS Radio Afternoon News

00:43 sec | 1 year ago

SoftBank clinches WeWork takeover deal, bailing out co-founder

"Today the troubled saga of we work is taking a new turn as the company's biggest investor takes control of the office sharing space firm the Wall Street journal reports that Japanese tech giant softbank receive the green light from we works board for the move which values we work at about eight billion dollars earlier this year we were exported a forty seven billion dollar private market valuation which had investors like soft pink salivating for an IPO but that was canceled after investors cooled on the cash burning company sending its valuation plummeting softbank had invested ten billion dollars into we work for a thirty percent stake we work founder and former C. E. O. at a new man makes out well in the deal receiving one point seven billion dollars to sever his ties

Softbank Founder Wall Street Journal C. E. O. Forty Seven Billion Dollar Eight Billion Dollars Seven Billion Dollars Ten Billion Dollars Thirty Percent
The Winning Bid for WeWork

Squawk Pod

01:16 min | 1 year ago

The Winning Bid for WeWork

"First up on today's podcast we work it's been a wild nine year ride for this company a journey forty seven billion dollars to less than ten all overseen by an eccentric and sometimes erratic leader Ataman also at the table for the last nine years soft thank the company that invested in Uber and slack is also one of we works largest backers and now it's trying to save its own investment here's Andrew with the story how big news unless twenty four hours we works board now weighing two competing financial rescue offers we work expected to accept an offer from Softbank take a controlling stake in the company already poured with ten billion dollars into that company and the decision could come as early as today let's walk through both of the packages because they're fast unto themselves the rescue package from Softbank includes accelerate a one point five billion dollar investment that it had planned to make next year and then buying up to an additional three in dollars shares that are held by other investors now as part of the South Bank would also put together five billion dollars in loans

Uber Andrew Softbank South Bank Ataman Forty Seven Billion Dollars Five Billion Dollars Five Billion Dollar Ten Billion Dollars Twenty Four Hours Nine Years Nine Year
WeWork: Unicorn Cowboy

Planet Money

03:01 min | 1 year ago

WeWork: Unicorn Cowboy

"He's speaking here in January of last year at a conference of mayors at the time we work was worth more than twenty billion dollars an extraordinary amount of money for an eight year old company that had never made a profit and was in the business of renting out office space by the month but newman never really talked about. We work as a company that rented out office space. Here's I would he told the mayor's if you bring us in for ten locations we will create one hundred thousand jobs over the next ten years and it can go go bigger and bigger and we wanted just bring your jobs. We'll bring the place to live. We'll bring education and this is important will bring corporate America we will redesign their space build it deployer technology which is called we always and took okay longtime to create and then put our community where you do that for a city hall. I would love to see the whole this is the way newman talked about. We work and we work talked about itself not as a company that rented out office space but as something much bigger we kept opening more offices and more cities and kept losing money and investors kept giving the company more money at higher and higher valuations by the beginning of this year we work was worth almost fifty billion dollars because it wasn't just an office company it. It was a technology company that was going to figure out how to profit from offices and apartments schools in City Hall and basically everything we were like. We're going to be a universal. They don't know what the word is. Universal Place Company Matt Levine used to be an investment banker now he writes for Bloomberg opinion my favorite of his recent headlines it's not you. It's it's we anywhere. There is a place we were going to be taking money out of it. That's why they could raise money at forty seven billion dollars evaluation. They weren't like an office landlord company. They were this flakes everywhere all encompassing master of space at least that was the story we were told up until this summer until to put up finer point on it just after seven. Am Eastern time on August fourteenth we work was preparing to sell stock to the public for the first time they have an IPO and they published a document for prospective active investors. The document is called S. One Thursday really quite extraordinary turning point like everything was one way and then the as one hits and immediately everything is the opposite way in like shockingly rapid fashion that whole story that we were had used for years to raise more than ten billion million dollars from some of the richest most experienced tack investors in the world The story that made it the most highly valued startup in America back collapsed instantly instantly. How did we work raise so much money? How did it go so bad so quickly? What tell us about the way money works in the world today hello and welcome to plant money? I'm Jacob Goldstein. The story of we were long rise and almost instant fall largely goes back to one guy not Adam Newman not even anybody at we were. It's a guy named Masayoshi sun today on the show. We Work Masayoshi Sun.

Adam Newman City Hall America Matt Levine Jacob Goldstein Investment Banker Bloomberg Forty Seven Billion Dollars Ten Billion Million Dollars Twenty Billion Dollars Fifty Billion Dollars Eight Year Ten Years
"forty seven billion dollars" Discussed on KCRW

KCRW

03:03 min | 1 year ago

"forty seven billion dollars" Discussed on KCRW

"Angeles has electricity so every every street has the potential to have any V. charger Helen thinks big on Evey charging but owners say there's a long way to go we're going to talk about it on greater LA right after this news update live from NPR news in Washington I'm Laxmi saying as house Democrats launch their formal impeachment inquiry president trump is attacking the whistle blower complaint that started it all to find out about a whistle. reports things that were incorrect trump is accused of trying to shake down the new president of Ukraine in the July phone call to get dirt on political rival Joe Biden ahead of the twenty twenty election end to uncover the genesis of allegations that Russia interfered in the twenty sixteen elections to favor trump the White House confirms the basics of the complaint but says there was no pressure impose no quid pro quo no wrongdoing the trip is a Jesse whistle blower may be partisan and peers Ron Elving reports on efforts under way to protect the whistle blowers identity under federal law at this point a legal agreement is in negotiation between the lawyers for the whistleblower the whistle blowers lawyers and these are the people who were involved in writing the complaint as the complaint is very lawyerly and they say that they want to be careful about exposing the identity of the whistle blower which is protected under the law the whistleblower law and of course you saw how careful Joseph McGuire was on Thursday and Michael Atkinson the inspector general of the intelligence community has been quite careful about protecting this identity and at least so far we don't know who this was a blower is and one suspects on the president doesn't either or perhaps we'd already be hearing more specific things about the whistle blower that's in pairs Ron Elving reporting now just learn a short time ago that Rudy Giuliani president trump's personal lawyer who cited in the whistle blowers complaint is being subpoenaed by house committees for documents related to Ukraine. it defines of the NC double a the governor of California has signed the first law in the nation allows college athletes to get paid for their name image and likeness Gavin Newsom signed legislation that enables young athletes at public and private universities in California to hire agents and secure endorsements the biggest payouts are expected in men's basketball and football we work the pioneering co working spaces says it is pulling plans to sell shares to the public for the first time this comes amid criticism of its business and its former CEO who stepped down from that role last week here's an peers you can a Gucci the company this year had hoped to become one of wall street's biggest IPOs our initial public offerings earlier this year and had been valued at forty seven billion dollars but the appetite among investors dried up after reading some of we works disclosures about its business and its co founder Adam Newman the company is burning through a lot of cash as it expands and Newman disclosed various conflicts of interest which led to his ouster the new co CEO said in a statement they postponed initial public offering in order to focus on the core business of self policing.

Angeles forty seven billion dollars
All the Reasons Things Are Going Very Poorly for WeWork This Week

Marketplace with Kai Ryssdal

02:37 min | 1 year ago

All the Reasons Things Are Going Very Poorly for WeWork This Week

"Let's begin. Shall we with a thought experiment. Imagine you are running a privately held company that is worth forty seven billion dollar based on the investments. You've gotten so far you need capital though money to grow so you start thinking about going public and people get really excited so you file the required paperwork with the Securities and Exchange Commission people start taking a real hard look governance structure and your business model and quicker than you can say Bob's your uncle. The bottom falls falls out your evaluation gets cut in half and then cut even more and then today you decide maybe going public right. Now isn't such a great idea congratulations congratulations. You're we work or more properly. It's parent the week company thinking was that the would be shared office space wonder canned was going to start trading in a couple of weeks yes but given the raft of bad headlines and a couple of recent high profile. IPO's than maybe didn't go so well see also Uber Cooler heads prevailed. Look there is a real question here given the headaches is all the money that companies can raise by going public worth downside risks marketplace's Justin Ho gets going we work is growing fast in the US and around the world but it's losing more than a billion and a half dollars a year and yet the company valued itself at forty seven billion in dollars in January J. Ritter at the University of Florida says the company's business model just doesn't justify that figure you know it's basically a real estate company that was trying into bill itself as a Tech Company at a Tech Company valuation two weeks ago we were slashed. Its valuation by more than Half Santosh Rowlett Manhattan venture partner says even that wasn't enough to satisfy investors people realizing bet no wait a minute. You just can't get a blank check anymore. Rows as part of the reason that that we work Uber and lift have stayed private for longer than other companies before going public that allows venture capitalist capture the lion's share of their growth but Kathleen Leanne Smith at Renaissance Capital says those companies are outliers compared to other recent. IPO's interests which is up over fifty percent from Peo- Shui the online pet supply company up over fifty percent renaissance capital runs an index of companies that have recently gone public and it's up thirty percent this year Smith says we work Uber and lift at the side. It's a good time for IPO's pastors are cautious about overpaying so we've had sort of a more discerning IPO market and better prices for investors. It's myth says the fact that we work as postponing going public is assigned. The market is working like it's supposed to in New York. I'm just in Ho for

IPO Half Santosh Rowlett Manhattan Kathleen Leanne Smith Renaissance Capital Securities And Exchange Commis Justin Ho Venture Partner BOB United States New York J. Ritter University Of Florida Fifty Percent Forty Seven Billion Dollar Thirty Percent Two Weeks
Why WeWork and Uber are proof valuations are meaningless

Equity

07:04 min | 1 year ago

Why WeWork and Uber are proof valuations are meaningless

"Let's dig into the show and we're starting off with my favorite topic I think of all time and not just vc but also just kind of the world working we work and its ensuing. I duNNo. IPO trails for lack of a better term. I know you guys talked a little bit about the pricing issues last week. We'll put that it to one side but the biggest kind of news items are that it is said reported that Softbank May want the IPO to be held which would be fascinating. There's also been reported by CNBC that Adam Newman the CO founder and CEO wants to push ahead with the IPO and this has led us to a question about how much money they need to operate the business doesn't happen. What's next okay? Where do you kind of turn so not terribly surprising given what we've been hearing the last few weeks but I just WanNa take a step back and say like the reason why Softbank is encouraging? We worked to potentially shelve its IPO this was at this point Wall Street's response to the IPO has been so I mean terrible that softens at risk of losing so much money because often invested late-stage Uber Uber and we were billions of dollars and we were indeed goes out at say eighteen billion dollar valuation or whatever we're kind of thinking is going to be the case at this point stopping is in a really bad position and this has already happened with Uber which had a very disappointing debut just a few months ago and they were also heavily backed by Softbank so stopping is in a really really really precarious position right now and I can see why they being urging we we worked perhaps weight although the markets everyone's been saying all year long are frothy there. It's a great time to go out. So do you think Alex waiting say six months. you know we'll benefit. We work at all. I wish I had one of those like folksy colloquialisms like you can't put lipstick on a pig backwards. I don't have one but my general impression is that the the structure of the company will not materially change over a six month or two quarter periods so oddly enough if I was giving advice which does not my job but if I was I would say go forward. Now your lumps go for it if you believe in your model this much raise as much and get all the debt invest in the business because you claim it's going to be great so then let's see how it plays is out. I don't know if they can actually raise three billion in the IP which is the requirement for the billion in debt which means we don't even know if they can trigger that option from bankers and on this point I just WanNa throw in a little bit of a nuance to that. I'm presuming. They isn't down protection on their investments into we work so so there's IT. It isn't quite as simple as people are saying like if it's fifteen they're down by twenty five percent on their investment. There's some nuance in there but they did put their last billionaire alienated company at a forty seven billion valuation which I'm sure marked up there prior investments so on paper. It looked like a very good set of deals. If this goes public could eighteen or twenty which is roughly than others put money into before a lot of that paper accretion of value goes to zero as they're raising the Vision Fund to and I think that's part of the problems received yes you're right and I think there are many many moving parts to this entire situation but I think one of the key takeaways here for people listening to this podcast asked just that valuations can be very meaningless so the forty seven billion dollar valuation that we work raised at the company's not worth that much money and I think everyone at the time thought that but now we're really seeing the impacts of hyper exaggerate evaluation so one of the things I wanted to bring up was you know months ago and Pinterest went public. We had a long conversation on equity about what it means to be under corn. Correct me if I'm wrong but I guess just to comey that. IPO's evaluation less than what their most recent private haven't market valuation was yeah and the idea was that because most companies going public these days are Unicorns just kind of a standard term but it would apply if you're worth nine hundred on paper and went out seven hundred hundred millions well yeah and I mean it happens a lot because like I just said that all Americans are not often correct and sometimes they are so inflated. That company has really no. There's no way they can match it so in Pinterest case it did end up. Actually I think it I think it ended up being okay when it when it did go out but for weeks and weeks weeks weeks people were were suspecting you know it was going to be an underground. It was going to be worth billions billions last when it when it went out and I think it ended up kind of floating right around where people expected which you know kind of anticlimactic but that's certainly not what we're saying with. We work no not at all. I mean I mean we've seen a couple of companies be reprised that we're GonNa Cori- recently. I'm not just talking about public companies like box and dropbox had their vibrations kind of cut their growth you you know Uber's now worth a what by ten fifteen twenty nine less than an IPO date we're GonNa see we work. Give up a large chunk of valuation in a lift has struggled and even just you know today. We're not GONNA hit on the stakes really care about too much but smiled direct club yeah good pricing Ron I and actually went public above its IPO price range got wrecked today and was just told by the market that it was not worth eight point nine billion dollars worth quite a lot unless maybe seven hundred matthew my head so we're seeing some private market enthusiasm even get to the IPO pricing process then went into reality so there is a disconnect here between how looking valuing things and I wrote a piece might months ago like no one knows what anything's worth and I was Kinda tongue-in-cheek about it but maybe I was accidentally it's true though VC's can value value a company in a certain way but because competition in venture capital right now as a whole VC's are pricing up around in a way. I think I guess to levels not seen before and I don't WanNa go down the tangent. 'cause I WANNA want to change the topic still on the subject of we work but you wrote a piece today that was how much money does it need or sorry this week. How much money does we work need to reach independent viability and I think there are questions around? At what point does it stop like. How much money does we work need to survive because it does burn through cash so rapidly and continues to need massive infusions as large as three billion aliens six billion dollars from investors? Yes so let me just quick numbers about that and I promise I'll be brief that number trying to keep things moving but like at the end of the June quarter this year we work at two point four seven billion dollars of cash equivalents on hand in the first half of this year. They're operating cash burn was just under two hundred million and they're investing cast burn two point three six billion so if they invested in spend cash at the same rate they did in the first half of this year in the second and raise no money unless else. I'm missing something they had negative cash which means they're dead so either. They're able to raise more money in some capacity or if dramatically curtail their cash burn on operate operate any vesting functions to make this kind of work and I'm not the only person who was thinking this some folks that are reading over at. I'm going to butcher this the House has. WG made a bunch of kind of interesting calculations and they found that even if we were raised all the money trying to now it would still need a bunch more money money to get to kind of cash flow break even in time so it's an incredibly cash company and I don't know what is going to do and this is fascinating because it could be a train wreck. I think it's already been a train wreck. It could be an even worse trained training wreck or your

IPO Softbank Uber Pinterest Cnbc Alex Vision Fund Cori Adam Newman RON Co Founder CEO Forty Seven Billion Dollar Four Seven Billion Dollars Eighteen Billion Dollar Nine Billion Dollars
WeWork presses on with IPO, pushing SoftBank into a corner

KCBS Radio Morning News

00:36 sec | 1 year ago

WeWork presses on with IPO, pushing SoftBank into a corner

"Is it going to work well stand we don't know if it's going to work yet but that show is going to go one C. N. B. C. reporting that we work is going ahead with its I PO road show it's white if market concerns that the firm's valuation is going to come in below twenty billion dollars not remotely close to the forty seven billion dollar private market valuation based on its last funding round the Financial Times as we worked biggest investor softbank is pushing the company to postpone the IPO but that would wipe out ten billion dollars in capital for we work putting an end to its aggressive expansion plans currently up to five hundred twenty eight office sharing spaces in over one hundred ten

C. N. B. C. Softbank Financial Times Forty Seven Billion Dollar Twenty Billion Dollars Ten Billion Dollars
SoftBank urges WeWork to shelve IPO over valuation concerns

Bloomberg Daybreak: Asia

00:53 sec | 1 year ago

SoftBank urges WeWork to shelve IPO over valuation concerns

"Sources saying that softbank is now said to be pressuring we work to put off its initial public offering them experiment bride says the we work investors could be heard by a week I. P. is the estimated valuation keeps dropping anybody who invested many at as valuation about over to. the billion stay at St Louis many at the IPO and that includes softbank it's invasion and invested about that valuation two years ago that leads to client investment bank stocks bank word valuing the company as high as forty seven billion dollars so when is an ideal looking to fall far short of that there's going to be a big paper a lot at least. we work had been planning a road show to promote the offering starting as early as

Softbank St Louis Forty Seven Billion Dollars Two Years
"forty seven billion dollars" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

07:38 min | 1 year ago

"forty seven billion dollars" Discussed on Bloomberg Radio New York

"Scheduled programming already in progress as you mentioned they've had a slew of branding problems they may have been seeing declining profits in their mobile division they also made a statement that smartphone shipments in the current quarter will be similar to April and June that suggests that the launches of these new flashy phone models maybe not as successful as some may be hoping for but some of the bright spots in Samsung's earnings one of them is B. O. L. E. D. displays we saw apple come out with earnings recently that very strong results stronger demand than expected so that is expected to be a bright spot to sort of support Samsung's earnings in this display screen area another bright spot that the executives touted along on the earnings call is the development of five G. and the growing demand for five G. chipsets however that is still very early stages and there's a lot of skepticism among investors now about how that's going to play out for the rest of the year but it's worth pointing out as well that another reason why they were such a negative sh share impact after their announcement was that they actually ended up delaying announcements in shareholder return plans until next year citing some concerns to global growth and geo political uncertainties so what are you watching for Sam's on when it comes to the second half of the year at the holiday quarter which always tells us so much about how the company is actually doing what ever going to be watching to see how these new smartphone launches unfold they're facing a lot of competition they said so themselves in these lower mid tier markets where there's a lot of cheap phones coming from China we're also going to be watching for this memory chip demand to see if it really starts taking off there's been a lot of talk from analysts and investors and Samsung themselves that this problem is starting to reach a bottom and that and the second half these datacenter players accelerating demand is going to start to play out but again the biggest issue for Sam's on right now are these geo political problems that they can't really forecast themselves investors ask other analysts ask them during the call how are you forecasting the impact and they said there's a lot of uncertainty there on shore themselves with the best way to go about minimizing there so despite how hard they may try to execute on their own plans there's only so much they can control when it comes to these global spats all right well my Selena weighing in Hong Kong thanks so much for that reporting meantime officers are we were coasted an analyst day for Wall Street banks Wednesday as the company prepares for an I. P. L. looking to go public in September in what is expected to be the second biggest initial public offering of the year we were said to be targeting a share sale of three and a half billion dollars and was last valued at forty seven billion dollars joining us to discuss Bloomberg's Alan Hewitt so what do we know about this analysts day well we don't know a lot we know that we work is hosting one today and that they've had analysts from different banks and firms come in and hear the pitch learn about the we work business model and try to get a chance to assess how they might be covering it we know that they held it and we work office in New York City and that most of the analysts who attended had to sign in the ETS to agree to not discuss what was shared until after the IPO the call is is I don't remember over left holding an analyst day before they actually started a formal road show I'm not sure but the situation is that the S. one four we work has not yet been made public so we know that we work filed confidential docks with the SEC last December and said in April announced that they had filed those documents but we still haven't gotten to see them the company is aiming to do an IPO in September that's based on our reporting so one would think that maybe there's a chance that sometime in the next month we might get the public flip we might get to look at the documents that show we works earnings losses all the nitty gritty which certainly many people are very excited to look at it's been a company that's got a lot of attention for its unusual financial metrics community adjusted even dot things like that on and people will be interested to look at some cold cold heart number so let's talk about what analysts are actually looking for what what what answered one of the questions they want answers to cool I think they're trying to assess whether to look at this company is a real estate company or tech company and it's something that we work has gone back and forth on for many years about how it presents its identity if it wants to be seen as a tech company in part because is interested in getting that sort of multiple in the markets and it would be love like much more valuable proposition for we were to be seen as such course many people look at it and think this is a company that takes on leases runs out smaller parcels of real estate and should be considered more like a real estate company or or at an investment that is modeled more on how real estate models are done meantime you mentioned some of the unconventional metrics there's also been some controversy around the founder and how much money has been taken off the table what's the status of that well that's still just part of the story we work that I think people are gonna be trying to get their hands around when they're deciding how to value this company so you mentioned the founder and CEO Adam Newman has taken out loans again some of his holdings of we work has also reportedly sold some of those some of his equity in the company he's also been known to have personal holdings of real estate that we work has been taken leases in the company has made steps in last year to try to resolve some of those perceived conflict of interest but it's something that I imagine is big question on a lot of them analysts and investors minds of is this a problem do we think that this might be a problem for the company as it goes public and do we have a sense of how much money they're making if they're profitable doing now they're not profitable but they like to present that's why we talked about community it doesn't even dot that's a metric by which they see themselves as profitable on sort of the building by building basis so almost what you might think of as the equivalent of the unit economics type approach where you're looking at an existing building that has been in place for something like twelve or eighteen months does that building itself make a positive profit and and they say yes but it certainly removing a lot of expenses that other people might think should be counted integrate her I like all the yeah okay album was Alice you Ellen here and I know you're to keep us posted if we get that finally thank you so much for stopping by and that does it for this edition of liver technology we are live streaming on Twitter check technology and be sure to follow our global breaking news network on Twitter this is could you desk not your problem trying to get the latest business news every place you have to go do you think some of the central banks and doing all that they hadn't correction there was a problem a surprise this collaboration between GM and Honda how does that affect evaluations and they're gonna be able to realize when they do try to sell this is Bloomberg radio Bloomberg business Bloomberg radio dot com the world is listening do you have the intelligence Beijing intelligence insight into a crucial industries.

five G forty seven billion dollars billion dollars eighteen months
"forty seven billion dollars" Discussed on KNX 1070 NEWSRADIO

KNX 1070 NEWSRADIO

03:02 min | 1 year ago

"forty seven billion dollars" Discussed on KNX 1070 NEWSRADIO

"K. either extend seventy newsradio I'm David Roberts at ten OO three and more controversial coming up in a few moments first let's check our top local stories for this morning a body has been found inside of a tent and now the Tina CBS to join Benedict is at the entrance of the cop the state hiking trail with the skeletal remains were discovered that is what the sheriff's department is saying and also the corner that a body was found up here they're probably had been here for quite some time the body reportedly that of a female it's not clear where exactly along the trail the body was found with the tent was located at this time no other details available and off duty LA county sheriff's deputy has been injured in a two vehicle rollover crash in Norwalk the deputy's car flipped on its top after getting slammed by a Chevy Silverado and the driver of the truck fled the scene the collision occurred just before to this morning near pine Boulevard and imperial highway the female deputy is listed in stable condition at a local hospital and now the young Doug shift apartment searching for the hit and run driver they say the trucks plates were one five three two one P. two Glendale police are asking for help as they try to track down a man accused of badly beating his fiance and her mother the two victims were attacked before dawn yesterday at their apartment on west Wilson Avenue to Pacific and and investigators think the suspect prime cruise drive away in a black GMC Denali Sierra pickup California license but that ends in one one two nine they'd like to hear from anyone who has seen him it's been another busy day at comic con in San Diego it'll be that is actress Kristen bell among the stars making appearances later today she'll participate in a panel discussion of the NBC series the good place with co star Ted Danson of filmmakers gear model Toro and Kevin Smith also hold panels for their upcoming films the annual five day convention brings in more than a hundred and forty seven billion dollars in economic activity to San Diego county an estimated one hundred thirty thousand people expected to attend the festival this year it's ten OO five hundred check traffic every ten minutes all the fights let's check in again with Logan Davis pretty significant problem in Anaheim hills in the west on ninety one just before you reach a lake view IT support car crash currently blocking the left lane of the mainline that's really essentially chant of the west on ninety one from we're canyon yeah that's a killer canceled in the Comcast northbound fifteen before kill all lanes are open traffic still really tough come away from the two fifteen up to about the one thirty eight before things open up on that north bound fifteen south out four or five that's can be sluggish for you from the one I want to about Mulholland and then opens up on your driving to west LA the five south that rocks for street out watch for the latter reported in the first lane from the left there and you still have some slowing on the southbound side of the five from Slawson down to six oh five four that drive opens up in Orange County and it's a read us the southbound six oh five before a launcher at a two car crash it moved to the right shoulder shouldn't impact your ride down to the ninety one next report ten fifteen on login Davis with more traffic reports more often can't extend seventy newsradio well our weather's going to be sunny once it all burst through the low clouds of for the that are around still for some areas this morning our temperatures not all that warm.

David Roberts forty seven billion dollars ten minutes five day
Forty Seven Billion Dollars discussed on All Things Considered

All Things Considered

04:04 min | 1 year ago

Forty Seven Billion Dollars discussed on All Things Considered

"Plastic waste litters cities and oceans plastic particles float in the air that's just the stuff people can see largely overlooked is how making plastic affects the environment is NPR's Christopher Joyce reports it's a big contributor to climate change but then so are many of the alternatives the plastic water bottle or grocery bag or tray of cucumbers at the supermarket they're made from oil or natural gas and says Carol muffin it takes a lot of energy to make that happen the real story of plastics impact on the environment begins at the well heads where it comes out of the ground and it never ever stops Moffett runs the center for international environmental law the center has gathered global data on how much climate warming greenhouse gas is produced in making all that plastic from cradle to grave first there are gas leaks at the well heads then there are leaks from the pipelines that take oil and gas to a chemical plant then there's the link the chemical process of turning oil or gas into raw plastic resin plastics is among the most energy intensive materials to produce factories then use more energy to fashion the plastic in the packaging or carport toward textiles trucking around to consumers causes more emissions and once it's used often gets burned to make electricity that's another source of greenhouse gases all told says Moffett emissions from plastics production incineration could account of fifty six giga tons of carbon between now and twenty fifty or about fifty times the annual emissions of all the coal power plants in the US that's a big number because a plastic production is expected to almost quadruple by twenty fifty that's according to the World Economic Forum the American chemistry council says the US industry plans to spend forty seven billion dollars on new capacity over the next decade the key message that people should take away is that the plastics crisis is the climate crisis hiding in plain sight but one thing this analysis does not do is examine the carbon footprint of things that would replace plastic things like paper or canvas or glass several research groups have in plastic repeatedly comes out ahead chemical engineer Beverly sour of E. R. G. an independent research group compared a mix of plastic packaging with a mix of substitutes the impact associated with plastics are generally much lower than the impact for the mix of substitute materials that would replace packaging here Jeez analysis calculate that the quantity of raw materials as well as the electricity fuel water and other materials needed to make paper and plastic packaging plastic uses less and at the end of its life paper in a landfill emits more greenhouse gases one big advantage plastic has is its light the plastic packaging accomplishes its purpose with very little weight of material just for example a paper bag weighs twice with a plastic one does not only do you have to produce you know twice the weight of material you have to transport twice the weight of material you have twice the weight of material to to manage at the end of its useful life and glass bottles way several times more than plastic ones the E. RG analysis was done for the American chemistry council analyses by the British government and other independent researchers have also found that most plastic packaging has a lighter carbon footprint than paper but his plastics effect on climate all that matters Angela houses no she's a surfer and an attorney with the surf rider foundation it's a group started by surfers who keep beaches like this one in southern California clean so they pick up trash and they see that it's abundantly plastic overwhelmingly plastic literal lasts for decades at least it's trash that marine animals eat plastic breaks down into tiny pieces to contaminate rivers and oceans and our own food where

Forty Seven Billion Dollars
"forty seven billion dollars" Discussed on KLBJ 590AM

KLBJ 590AM

02:13 min | 1 year ago

"forty seven billion dollars" Discussed on KLBJ 590AM

"Company both locations across the US six in Austin. We work filed an IPO yesterday was last valued at forty seven billion dollars. You're KLBJ radar weather watch cloudy, warm overnight. Showers low seventy one get onto news on demand at newsradiokkob dot com. Children. This. Premiere networks presents coast to coast AM with George Noory, while this hour, the anomaly hunter Billy Carson back with us on coast to coast. I'm going to give you a little tidbit because Billy is one of our special guests that are live Ford Lauderdale show and Miami program on Saturday, July twenty seventh. So you're going to get a little glimpse of some of the things Billy will be talking about. But he'll have more surprises.

Billy Carson US George Noory Ford Lauderdale Austin Miami forty seven billion dollars
"forty seven billion dollars" Discussed on Equity

Equity

01:48 min | 2 years ago

"forty seven billion dollars" Discussed on Equity

"Do things that were not heard of before so i feel like there's a lot more value in the future of thinking about these things are software platforms and the key software there is self driving an autonomous driving and that's what crews represents gm so i i'm pretty sure that's that that they they could make a lot of value they could extract lagnota this if they succeed it's a big technological challenge also i mean as we've seen with tesla cars are hard and i it's one of those things i mean you're you're you're mentioning it before that so much of the value of these is going to start being captured by experience and compute autonomous driving things like that i mean tesla model s it's like it's a frigging awesome car it's like an ipod but you're basically driving an ipod with like a with like a nice screen on the pad yeah some more like two thousand four yeah yeah yeah whatever going all the way back there and tesla right now has a market cap of like forty seven billion dollars so you could look at me like okay well like how much of that is locked up in their sort of ui you x technical whatever you wanna call it with like the over the air updates and now you've got a company like gm that has like self driving technology selfdriving technology branch and something and they've sort of like brought in this new talent duct tape on top of a car business that's already there they can make cars they've shown that they can make cars i mean obviously these things are like multi your cycles so like the fact that they if they have a ton of it's working now you're not gonna even see that until three or four or five years down the line maybe i mean obviously i'm not on expert so whoever can like check me on twitter and yell at me or something like that but but it takes a while to get there so it kind of makes sense if like i'm looking at this i'm softbank and for some reason jams going to let me put money into this like heck yeah like this this is such like an easy like slam dunk bed on autonomous because it's literally like a really.

gm tesla twitter softbank forty seven billion dollars five years
"forty seven billion dollars" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:24 min | 2 years ago

"forty seven billion dollars" Discussed on Bloomberg Radio New York

"Best bloomberg best is about the insight and the context get from our guests it's a great way to catch up on some of the stories you might have missed on the bloomberg stories you're not going to find in any other news organizations bloomberg best bloomberg's best stories of the day powered by twenty seven hundred journalists and analysts in more than one hundred twenty countries around the world i'm june grosso and i'm ed baxter on this edition of bloomberg best for thursday may seventeenth congressman mo brooks tempers expectations for meeting between president trump and kim jong president trump's going to be able to achieve results that seven decades of past presidents have not been able to achieve but it's worth the effort jimi hendrix discusses the scale of the carmakers truck business the f series trucks alone in north america have revenue greater than the whole company coca cola or nike over forty seven billion dollars all this and more coming up in the next hour of bloomberg best and i'm doug krizner at bloomberg world headquarters in new york let's check this hour's top business stories and the markets china has offered president trump a plan to reduce the us trade deficit with china by nearly two hundred billion dollars annually a trump administration official says this would be achieved in part by increasing imports of american products meantime the president's chief nafta negotiator said the us canada and mexico are nowhere near close to a deal us lawmakers have said time is nearly up to reach an agreement on revising nafta that can pass the current congress after the bell here in the states applied materials gave a disappointing sales forecast the company actually raised concern about weakness in the semiconductor and displays industry after a fiveyear rally in these sectors a match shares in new york trading late in the session were down by nearly six percent japan's nissan is said to be resume listing a combination with renault unless nissan gains more clout in key areas nissan and renault of france have been discussing ways including a possible merger to strengthen their ties we are told me san's top managers believe they have the better engineering capability and want to lead crucial operation such as product development we check markets every fifteen minutes here on bloomberg right now the us ten year treasury in.

nissan canada new york bloomberg world nike jimi hendrix kim jong mo brooks congressman june grosso product development france renault bloomberg japan congress mexico official us china
"forty seven billion dollars" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

01:43 min | 2 years ago

"forty seven billion dollars" Discussed on Bloomberg Radio New York

"Put things in perspective the f series trucks alone in north america have revenue greater than the whole company coca cola or nike over forty seven billion dollars so that gives you some perspective the size of this business and and how much we had to rally the troops to get everyone excited about getting this back up and running which we we're really proud of everyone's work so it's no secret that he fseries trucks are a big contributor to our bottom line at ford motor company and we're so excited had the production starting up tomorrow through the weekend so you're going through at ford motor a a real transformation with your new ceo jim hackett and a real redirection under bill ford one of the things that you said is you're really going to if not entirely get out of the car business largely you're going to be in suv's and trucks that's as a strategic matter and certainly the profit margins are hiring does this does this experience with the f one fifty and the problem the plan illustrate a vulnerability in the strategy that if you put all your eggs in that basket you are vulnerable to whatever mark it changes or physical changes might happen well it's a great question we don't feel that way black swan events happen every so many years in the auto industry with a capital intensive business that we have but you can see how quickly were able within over louvre week to get production back up and going consumers have been moving to suv's over ten years around the world and now cars are down to about thirty percent of the market in the united states they were fifty percent just not that many years ago consumers want fuel efficiency affordability but they also want the flexibility higher ride height they come from the versatility of an suv so we want to give them both of that we want to give them those options and overtime body styles change that traditional view of a rufa hood and trunk has morphed into lots of different things so we're going to give them what they want and give the great fuel efficiency that goes with it.

north america ford motor company jim hackett united states nike ceo louvre forty seven billion dollars thirty percent fifty percent ten years
"forty seven billion dollars" Discussed on WLOB

WLOB

01:55 min | 2 years ago

"forty seven billion dollars" Discussed on WLOB

"And over golly battled because you know they still hold office in the administration in various departments that's why that change is secretary of state could be a good thing they need to clean a little bit of house there even though the civil servants to go put in people who agree with trump listen there's nobody that works for president trump who ought to put their feet up and settle in because you better be you better be you better be on your a game and you better bring it because if you're not if you're not you know there's gonna be turnover he doesn't mind true to his tv show he doesn't mind saying you're fire does he sure sure but but this is important because what what let's talk about your meeting at the white house and talk about what you're fighting for let's get into some of the the things that are front and center on the on the mac agenda okay well number one we're getting a lot of headway on a pro bono healthcare that's where the doctors can treat a patient and get a tax deduction and not allowed to do that now we calculated that seven if if most of the doctors the sole practitioners nurse practitioners which we polled said over eight cent would do that take up the twenty patients treatments for free in return get a tax deduction eighty percent of the doctor said they would be happy to do that but it's twenty patients so you have these scammer but that's will save forty seven billion dollars a year we can cover seven million patients say forty seven billion a year that's half a trillion and i'll tell you the legislators are all paying attention i was gonna get white house on that side on this i love that i mean this is the joy for me of sharing this and i'm looking at our chat room right now mike online dot com number people saying i'm signing up for a mac today so about time a group like.

white house mac president forty seven billion dollars eighty percent
"forty seven billion dollars" Discussed on KHNR 690AM

KHNR 690AM

02:08 min | 2 years ago

"forty seven billion dollars" Discussed on KHNR 690AM

"Mac does you have to you got to vote we can move mountains with our voice and that's the point behind amac you guys are fighting for us all the time amac unlike the aarp which is basically a liberal lobbying group amac is is on the opposite end of the of the spectrum and you guys liked your visit today to the white house you're constantly fighting hard for people fifty and over battled because you know they're still hold office in the administration in various departments that's why that change the secretary of state could be a good thing they need to clean a little bit of house there even though the civil service to go put in people who agree with trump listen there's nobody that works for president trump who ought to put their feet up and shuttle in because you better be better be you better be on your game and you better bring it because if you're not if you're not you know there's going to be turnover he doesn't mind true to his tv show he doesn't mind saying your fire does he now he but this is important because what what let's talk about your meeting at the white house and talk about what you're fighting for let's get into some of the the the things that are front and center on the on the amac agenda okay well number one we're getting a lot of headway on a pro bono healthcare that's where the doctors can treat a patient and get a tax deduction and not allowed to do that now we calculated that seven if if most of the doctors that sole practitioners nurse practitioners which we called said over san would do that take up to twenty patients treatment for free in return get a tax deduction eighty percent of the doctor said they would be happy to do that and it's a twenty patients had they scammer but that's will save forty seven billion dollars a year we can cover seven million patients say forty seven billion a year that's half a trillion and i'll tell you the legislators are all paying attention i would gonna get white house on a side on this i love that i mean this is the joy for me of sharing this.

Mac white house president forty seven billion dollars eighty percent
"forty seven billion dollars" Discussed on KDOW

KDOW

02:21 min | 2 years ago

"forty seven billion dollars" Discussed on KDOW

"A job in each of them shipped them over to a bridge or whatever you're the other thing is deficit reduction the deficit was never going to be reduce now only the deficit but are of of trade deficit was getting bigger and bigger so i knew all the stuff that you're gonna be so wonderful i said no it's not going to happen and then finally but nobody talks about nobody you know the shawyess looking more like christmas whether song notices it looks more like two thousand eight or two thousand six when nobody talked about the trip jab judge cnbc the kemper jaber's on fox they never talk about the at and machine affect remember back in two thousand one after nine eleven what did what did our friend a baby bush say he said go shopping i encourage you ought to go shopping more so what he did he encouraged all the baby boomers back in 2001 to take out six hundred and forty seven billion dollars out of your home's use your home is an atm machine extract that money goes spend because we need spending could spending across the economy i get the economy to three percent gdp that's what he did and that's why today we have the biggest retirement crisis in history but nobody talked about the fact that this whole stock market was phony this whole stock market was wholly dependent on what we call low reach your what refer to is falling risk free rage zero race a whole market was a phony unless leslie rates were near zero this market couldn't go up just like housing what makes housing go up his wages wages now what are they doing they're making housing going up by keep giving easy credit more when we get back is the special edition of the stock market crashes now doubt over a thousand points and we are making money want more information on the show go to phils getting dark gone or give them a call at eight seven seven six hundred gang hi my name is phil gray and if those gang dot com most people would love to be.

kemper jaber bush phils cnbc leslie phil gray forty seven billion dollars three percent
"forty seven billion dollars" Discussed on The Renegade Republican with Dan Bongino

The Renegade Republican with Dan Bongino

02:30 min | 3 years ago

"forty seven billion dollars" Discussed on The Renegade Republican with Dan Bongino

"Apple windfall from the proposed tax cuts to windfall joe the windfalls hub in the apple would fall and i read this and i'm like uh really re did the here's the democrat's new member that the narrative spot the narrative every time the narrative it's always be asked with the left you just have to figure out where the b asses and pointed out so here's the story story in the journal his at this tax cut if it goes through is going to lead to an apple quote windfall forty seven billion dollars oh i reminds me of that spiderman movie with that uh not the tobey maguire guide the andrew garfield the other guy when when ambani walks in the room and he's got all the dust on his face from his fights the night before spiderman and she's like peter what's up at your face he goes i i was clean in the chimney she goes we don't have a chimi he was born it's the fuck is part of no movie i love it that's what are these apples going to get a forty seven down a forty seven billion dollar windfall from texas law okay they i it liberal logic but wins the day again because the narrative this is what they do what people will scoop this up here's what's actually going on under the curry broke in disgusting tax system we have now of the highest corporate tax rate in the organize the economies of the world of 35 percent folks that's our current corporate tax rate now apple technically would about seventy eight point six billion dollars in taxes on muddy joe follow me here it has overseas apple now if the gop plan if the gop tax plan passes the apple apple tax load burden on overseas money would be thirty one point four billion now when you can get you when you subtract the two you will get forty seven billion dollars so liberals are like oh my gosh we're giving apple forty seven billion dollars no no you're not giving apple anything lissette apples like a largely liberal company okay i ought to be disclosure i own some stock in apple not a ton.

Apple andrew garfield peter ambani texas corporate tax gop forty seven billion dollars forty seven billion dollar six billion dollars 35 percent
"forty seven billion dollars" Discussed on WCBM 680 AM

WCBM 680 AM

02:24 min | 3 years ago

"forty seven billion dollars" Discussed on WCBM 680 AM

"With the latest views this is talkradio six e wcbm and wcbmcom good morning i'm frank lu wcbm maryland new started with the news at five thirty one maryland six casinos raked in nearly one hundred thirty nine billion dollars in july that's a thirtyfour percent increase over last july topping the list the mgm national harbor casino which generated nearly fifty one billion dollars maryland live casino what a rumble mills finished a close second with nearly forty seven billion dollars generated dr peter beland soon has resigned as ceo evergreen health a help ensure he founded evergreen is now in receivership and has been ordered by the state to cease doing business johns hopkins hospital moves up from fourth to third in the latest rankings of hospitals by us news and world report the mayo clinic in minnesota is ranked number one hopkins held the number one spot for twenty two years but started slipping after the magazine put less emphasis on reputation un ambassador nikki haley saluting the international community after they agreed on tough new sanctions against north korea it was a song for the united states strong deafening out of lotions and it was it was it got parts to north korea iraq american international community tired i and we're going to start fighting back the security council unanimously approved the new sanctions including a ban on coal and other exports worth over a billion dollars the onyang has promised revenge thousandsfold against the us little ahn's us backed military is gearing up for a longawaited assault to dislodge hundreds of islamic state middleton's from a remote corner near the syrian border the campaign is seeking to end a yearslong threat posed a neighboring towns and villages by the extremists it will involve cooperation with the middleton group has balaa and the syrian army on the other side of the border a look at sports in a moment brian he asked new tom delay donating junk disappear now i understand the magic part i mean how do we do the rest on it any recycle the recyclable and donate the donated also planet earth stays happy and healthy well hearts not imagine yeah that's just plain old hard work but we do it because it makes a difference i.

united states tom johns hopkins hospital mgm brian syrian army middleton group assault ahn maryland north korea nikki haley minnesota mayo clinic evergreen ceo evergreen health dr peter beland one hundred thirty nine billio forty seven billion dollars fifty one billion dollars thirtyfour percent twenty two years billion dollars
"forty seven billion dollars" Discussed on KBOI 670AM

KBOI 670AM

02:16 min | 3 years ago

"forty seven billion dollars" Discussed on KBOI 670AM

"Vice president to pass it in one way the deep party you go the harder it is to get those wife people they come from purple states that uh where prince of medicaid has fab which expanded under obamacare and it their governors are telling them do not vote for anything that to cut back their spending under obamacare uh about half of the state expanded medicaid about half of the state could not expand medicaid we obviously are one of the one who did not well there's hundreds of billions of dollars going to the state that did expand medicaid and uh what we wanna do is just take this back and say lucky it go back to where we were were were we don't have an expanded medicaid but that of course take half of a state cuts back well what they're getting and just as an example and the adoption of so i'll of obama care ob california has spent about forty seven billion dollars more than they would ban before obama care we're pinheiro more because we didn't expand well now california st louis just keep going on the way we are so they're saying my idahoans near gonna pay for our forty seven billion dollars more every three years but you're not getting anything and an this is not right if quiet not right and uh the big y you're not gonna get me there i mean if not going to happen as far as i'm concerned i i can't both for that and of course the other the other side getaway now california get to a democrat senators anyway so it it really doesn't matter but we have a handful escape that i republican state that did vote to expand and their governors are care when they're senators the republican fitters here don't vote for and i get all the time saying well why don't you republicans do list that the air thank you where each of us are independent they're very nobody tells us how how we uh we have to vote in and so oh it becomes very difficult when you short a few voters which is what we are a target explain to people that we you can't do it in i mean what what do you do he can't make people both away they were will a a senator jim risk for joining us from washington dc and center oh i'm actually broadcast in the show from one of those states.

Vice president medicaid obama california senator washington forty seven billion dollars three years
"forty seven billion dollars" Discussed on TalkRadio 630 KHOW

TalkRadio 630 KHOW

03:03 min | 3 years ago

"forty seven billion dollars" Discussed on TalkRadio 630 KHOW

"And tax payers are liable or anything us postal service over forty seven billion dollars in losses in the past decade and still kelly curious what pure unadulterated government efficiency in practice of not in theory looks like the following chart of u s p s operating profits pardon losses over the past decade i'll be sufficient punchline having generated revenues of nearly seven hundred billion dollars in the past forty quarters the us pierce has been bleeding red ink more or less consistently since two thousand six is now generated just over forty seven billion dollars in operating losses over the past ten years from the wall street journal the us pierce said its total liabilities were sixty seven point sixteen billion at the end of the period compared with twenty three points sixteen billion dollars in assets that means that the mic capital deficiency or the cost to keep the united states postal service alive i've amounts to about forty four billion dollars and the stories about two years old which includes which includes three point one billion dollars in contributions from federal tax payers the us government the postal service reached his fifteen billion dollar credit limit with treasury department 2012 of law usps must pay its own way but it as a receive emmanuel taxpayer subsidy but is reimbursed by congress for some services such as delivering mail to the blind in overseas voters us pierce is also saddled with a congressional mandate requires it to prefund more than five billion dollars annually for health benefits for future retirees in other words the more pension of cools that will never be peter out until finally the administration has no option but to make the payment on behalf of the postal service thank you the pension benefit guarantee corporation the pendant the kent the pension benefit guarantee corporation his tunnel i elusive analogy the federal deposit insurance corporation and you may think that the fdic is funded by bank fees no new nunu the fbi see if he were alive during the oil bust back in the eighties it all these banks got shut down and then the assets were sold off sold other banks console allegations going on and the fdic took over all these banks well when there's not enough money to cover the liabilities including deposits of like you're checking account the fdic steps him and coverage those who do you think guarantees.

wall street journal us congress fdic fbi kelly treasury peter shut down forty seven billion dollars seven hundred billion dollars forty four billion dollars sixteen billion dollars fifteen billion dollar five billion dollars one billion dollars forty quarters ten years two years
"forty seven billion dollars" Discussed on Trailblazers with Walter Isaacson

Trailblazers with Walter Isaacson

01:50 min | 3 years ago

"forty seven billion dollars" Discussed on Trailblazers with Walter Isaacson

"In 2017 worldwide ed spending is expected to reach five hundred and forty seven billion dollars digital add spending which didn't exist before 1994 is now expected to account for a third of that total most of that says got galloway is making its way to two of these horsemen advertising in media is a great business as long as your facebook or google everybody else's and structural decline a hundred and three percent of the growth and digital marketing last year went to either facebook or google meaning that if you're a video optimization platform or you're in the business of digital marketing and you're not facebook a google you join magazines and newspapers in that you're in a business attend structural decline between the socalled traditional ad agencies of madison avenue and the tech shops of silicon valley and elsewhere the digital age has prompted the emergence of two distinct advertising philosophies let's call them selling verses branding selling if what marketing technology does best it's goal is to play matchmaker between of product or service and those most likely to purchase them ideally it unites them at just the right time in which called the buying joining and minimises any barriers in the purchase decision selling is about logic and reason branding on the other hand is about a motion branding seeks to win a place in your magic nation by wrapping of product or service in a feeling or attitude even a signature sound or piece of music.

galloway facebook google forty seven billion dollars three percent