20 Episode results for "Glencore"
Glencore Cuts Output Guidance.
"You're listening to the news at this time on Africa. Business Radio Glencore. It's Twenty Twenty Cup so expenditure and output targets and Thursday reflects the impacts of the current virus on its operations saying the belt tightening and left well-placed to whether the pandemic see all Ivan Glastonbury Sydney statement. That's given a strong position and resilient business model. They're well positioned to navigates the current challenges the Mina and trade reports fest quarter production date said spending for the year would fall by one billion dollars to one point five billion dollars from an originalist when five billion dollars restrictions imposed by governments to curtail. The epidemic have falls glencore to shut us some operations and Shod Peru Columbia South Africa and Canada. And that was the news at this time. When Africa Business Radio you can continue to this knife online at. Www AFRICA BUSINESS RADIO DOT com over up. Thank you for listening.
Zimbabwe is marching toward starvation
"This marketplace podcast is brought to you by indeed. Are you hiring with indeed. You can post a job in minutes set up screener questions than zero in on your shortlist qualified candidates using an online dashboard and get started today and indeed dot com slash marketplace. That's indeed dot com slash marketplace. This marketplace podcast is brought to you by alliance for lifetime. Income annuities can offer a safeguard of protected monthly income for the rest of your life and provide security and peace of mind in retirement. The alliance for lifetime income is an organization dedicated to educating being in raising awareness about how annuities can solve retirement income needs find out if making annuities a vital component of your portfolio is the right choice for you. Learn more at retire. Your risk risk dot org a third of zimbabwe's population faces. A food crisis live from london. This is the marketplace morning report from the b._b._c. World service. I'm good morning. I though mining giant glencore announced this morning shuddering production at the world's biggest cobalt mine at the end of the year because it's no longer economically viable that sending shares down more than two and a half percent the b._b._c.'s russell padmore reports glenn cole revealed its plan to suspend production <unk> tend to mine in the d._r._c. from december as it unveiled a big drop in profits for the first half of the year down about a third to almost six billion dollars an increase on taxes as a mining by the d._r._c. has also hit the company. The price of cobalt has fallen forty percent this year because of a surgeon supplies from the democratic republic of have congo last year glenn calls tanda mine produced twenty seven thousand tonnes of the metal. A fifth of the world's supplies cobalt has a range of industrial uses from being used in the manufacture of smartphones or a component in batteries for electric cars or jet engines. When it's mixed with other metals it can stand high temperatures. Choose the decision to suspend operations at the d._r._c. Mine is the latest setback for glencore in the african country where it's business practices are under investigation by the united states department of justice last week. Glencore revealed it to start an overhaul of its underperforming african business following the huge dropping cobalt prices. The company's shares fell today to the lowest price. Since two thousand sixteen as investors reacted to the news that cobalt mining once considered a focus of the company's future as how's the world moves towards adopting more electric cars has now become a liability russell padmore. Let's do the numbers stocks in asia ended. The session mixed while european pinch shares are mostly higher profit. Softbank jumped to a new record in the first quarter that says the japanese tech giant prepares to launch it second investment fund focus on artificial intelligence agents but weaker industrial production data out of germany europe's biggest economy is continuing to fuel worries about growth in the region also today a trio of rate cuts thailand delivered its first rate cut in four years new zealand slashed its benchmark rate more than expected and india lowered rates for the fourth straight meeting. Boosting growth is the goal especially in india where economic expansion is at a five year low. B._b._c.'s samir hashmi has more from mumbai overall sentiment in the economy's quite negative negative and is in that backdrop that there is a bank of india has gone ahead and cut the key lending rate higher than expected and the reason for that is businesses the government mint banks. Everyone feels that rate cut would help boost the sentiment on the ground but that's really up for debate right now. Because the fourth consecutive cut the banks have not being able to pass on those cuts to consumers are businesses because they themselves have been struggling so what's ailing india because new zealand also cut rates more than anticipated and and it's probably feeling the fallout from the u._s. China trade war but india's exports have been growing unlike china desert con. Mi is very domestic driven which means it really relies on and people staying in india to spend money which drives demand which stone creates jobs so the moment consumer demand false that really has a huge impact on the overall business sentiment despite india's economy growing fast companies have not been making higher profits and sixty to seventy percent off off india's economy relies on small and medium-sized businesses. Now these are a lot of them are unorganized as we call the more here which are not part of the mainstream economy economy and they have been also struggling on the ground and that naturally leads to a slowdown of an economy what about the tensions in kashmir and turmoil in emerging markets. They've dented the rupee. So do you think this rate cut will only way on that more. Yes there are multiple factors which has led really to the rupee weakening the other factor is the oil <hes> the moment oil prices stock fluctuating or become volatile. It has an immediate impact on the indian rupee because to meet their needs and has to import oil and that has a direct impact in india's currency because they have to be in dollars to the moment. There's some volatility combined with create tension plus. The fed decision asia all the way down on the ruby. Samir hashmi the united nations has stepped up its emergency appeal for zimbabwe warning. The more than five million people or a third of the population will need food aid before the next harvest. The head of the world food program said many zimbabweans are marching towards starvation. The news is all the more shocking. Given zimbabwe was once southern africa's breadbasket the b._b._c.'s shingai new yorker has more from harari about two point. Two million people are affected affected immediately overall seven million people both in the urban and rural areas face hunger who food insecure people have heads is to cut down on the meals. Some children are going to school without food. Experts say that this is expected to get worse in the coming months. When the lean season starts in october what's gone wrong because zimbabweans come out of dictatorship. It's trying to attract foreign investment create jobs. What's going on all the multiple multiple factors that have come together to create. This crisis of the foremost one in terms of food production is devastating drought the worst i in about forty years essentially this is dried out the water sources. The drought affected the kariba dam which is the major hydro power dam in the country last year levels. They were eighty five percent. We understand now. They're at about twenty nine percents and if the levels drop they'll have to shut down the electricity visited supply. This has really affected farmers. We needed the water to irrigate the major. Issue is the drought for this also just an ongoing economic crisis. The country doesn't foreign currency to import food and it really is in need of assistance shinyuka there in harare in zimbabwe. Finally the growth of streaming has emboldened content makers. A group of youtubers is teaming up with europe's biggest trade union to try and force the platform to be more transparent on pay. The youtubers union has joined forces with ebay matale to launch. Something called fair tube. They've given youtube until august twenty third to respond to who set demands or they're threatening possible legal action so watch that space in london. I'm unin with the marketplace morning report coming to you live from the b._b._c. world service.
Gulo ko Saakh se Todo . Vaibhav Asad Akbarabadi . IINK Podcasts . Episode 106
"Glencore shots overall bihan shock said. Aloha dorab psunenis kobe. Salon accident auto baha devolved some as odd 'cause affordable luma had cavoski luma hats thous- gal hirsch gama. La mahmudul loom had cows. The gal covers gamma mutt. Patrol of ethan nila. Little lethal satire little parochial artem kitchen layers of all of ethan ornamental title. Don't give artem kitchen layers of on mutt true. T-com yom means at the maybe some muslim Hall jal muslim cleric hajj. John mutt patrol officer As it didn't that is abiding. Another these or lable patil for half off talk gal. Gadot who that is. Obasanjo's is all the kaha kahar. Petar gal gadot odd. Makutu you see mahia. Memories are who has a you see he and emma shoddy who he has not john mccain. Who was sort of on. Madonna gas shop circle the han slimness so.
77. THE GREEN WOLF OF WALL STREET
"This podcast is supported by linked in learning. We're all at different places in our careers. Some of us are just looking for a job. Others are trying to get promoted manage a team or do something new wherever you're at linked in learning has more than thirteen thousand courses taught by industry experts to help you succeed in your own way, anytime anywhere. It features. A vast range of business tack and creative skills. Employers are looking for visit linked in learning dot com slash learn for free to get a month free and to keep learning in all the career moments that matter to you. Through. This as reasons to be cheerful with Jeff lied. Hello. Howdy partner. Howdy. Well, we we had an exciting day yesterday. We did it was originally going to be taking some of the reasons to be cheerful listeners for non does it. It's so spiral from there. Really didn't it. Yep. Spiraled is one way to put it was an upward spiral spiral. We ended up doing a focus group. Yes. Universal Music who friends of ours lent that boardroom. Yeah. With their enormous, shiny boardroom type nice views beautiful views over over London. And we gathered eight reasons to be cheerful listeners who are all lovely. They were fantastic. I wasn't scared because it being this record company. They told us a story about famous recording artist who sat in on a focus group. Sometimes when they do these things have smoked glass like a mirror hiding behind it. So this particular artist was listening to the general public give opinions on them. And they were so enraged that they? Burst into the focus group. And both the align assaulted, a member of the public doesn't you should be talking about that way. I call we call reveal like foce, the I'm so afraid of confrontation that there was no danger of me doing that. Generally when politicians go to those focus groups with two way glasses generally body experience. Have you had experience of that? I haven't I did have sat in law folks roots in my time less about me by get reports from polling and focus groups, but one labour politician went along to one of these groups, and there was about a bunch of voters who I think they were turned salvaging Tories and labour, and they said some pretty disappointing things about this individual. He basically stormed onset at the just of Tories. So if you are doing if you'll having polling on yourself reported back to you how heavily redacted is very heavily in my case. But they were lovely bunch PayPal. They were we had a nice time. Some of things we found out. I was keeping a total of how many people had beds in the room of the eight people. Three of them are beds. Swing to the babies. Yeah. Just one pair of glasses. They're what away from mile picks? Most people are listen to podcast whilst commuting either to work or to their studies. But people also listening to it once cooking. Yeah. And during bath time where bath time treat for some of our listeners interesting. Yeah. You say interested in birth. Okay. You stifling a yawn there? Nope. Do you want to know some of the other other podcasts that they listen to the hours? No such thing as a fish by the Q, I als- into quite popular one. As did my dad wrote a porno and table manners with Jesse wearing a mom. So the reason I was posing walls it made me think of this. These two people call ammos to verse key, and Danny Daniel, conman who these to behavioral economists, and that is brilliant book by Michael Lewis, Kellyanne doing project, and they have this thing called the law of small numbers. And Laura small Tomba's is defined as judgmental bias which occurs. When assumed that the characteristics of the sample population can be estimated from a small number of Ovation's day, two points. I'm sorry to be on your chips. Well, well, they maybe you will give credence to this. Final thing that was going to. They were lovely lovely. You're saying you're opinions count for no. Smallest emphasize you say it was a waste of ours. And everybody else is such an interesting subject this lowest numbers because the term in Boston boggled the hot hand, and it's sort of like people who are on form, and they tend to show that the hot hand doesn't really exist. It just as a random set of things that happen. Anyway, blah, blah, is your hand heart. Now, tell us these questions being the metaphorical expression. So so the the woman of criticism that came out of the focus group that I thought I should put here. We should definitely apply lowest. We'll number two this. Yeah. So so one of our listeners her husband. I got the impression on unlike her is quite a staunch conservative. Yes. And it really gets his backer. Yes. Every time we refer to the conservatives as as Tories, Tori, three three three three three three three three. Okay. I promise. You husband of our very nice focus group participant. Never again. Never get on the podcast. We'll never again, the I'll say, Tori. I just I just go to. I'm just getting out of my system. Okay. Right. It's gone now. Okay. I think it's a fair point, actually. Okay. There we go learning to lower. It doesn't mean I would say Tori's outside the podcast which clear or it doesn't mean always say that were outside the podcast. But inside the podcast was I do often think about a conservative listens, and they are incredibly valued. And I don't come from that political persuasion, but I really we really very them. Like, we've really will listeners by value, particularly. So I hear you. Okay. Good. That's address as you hand cool down. Onto this week's podcast. I'm really excited about this week's broadcast because it is about a movement and an idea called divestment and it's around climate change. And it's around this idea that pension funds people who hold wealth should be disinvesting divesting from fossil fuel companies as a way to change behavior and hastened the very very urgent transition away from fossil fuels to renewable forms of energy. And so on and the church of England has done a big push on this that that pension fund. They've persuaded the mining company Glencore to change its behavior. We're going to be hearing from them. We're going to be hearing from a fantastic woman. Catherine Howarth who runs a something called share action which has been at the forefront of this campaign and from herbs center from the US from an organization called three fifty all the I think with the originates of the whole divestment campaign, which is a huge global campaign now. And if that wasn't exciting enough. We're going to be learning to beat bought. We love biddy, man. We are joined by beat books performing artists sensation Bidermann. What's your reasons to be cheerful this way? So my wreath three. Cheerful is that I sort of took the podcast on the road. Not in the sense of a live show and tell you about that would have obviously been Darlie characteristic. But crystal gray who he had on a great episode few episodes ago about public space, my friend, who's an architect runs a single studio gray west, which the big architect firm. He came up to Doncaster to talk to people in the council and others about public space. What advice he could all I did it just have the goodness of his heart. And then we came back on the train together. And well, first of all we had to excited listeners who came up to us. They thought Kristoff was you who is a very stylish, man. He is an extremely stylish Frenchmen. I mean like way way stylish more. From what you're implying. We we had these two lovely young people who came up people who came up to us one of whom was BBC I plan she's unusual. But she's a female software engineer the big team of sixteen that she works in. I think she's the only woman in that team boyfriend works at be on the BBC sports app. We didn't have the longest inch tall this tennis jimbotalks. This tennis thing they released for Wimbledon one year, you could play these like, you know, tennis game, blah, blah, blah. It was great. And they were lovely shade mail. Was yours quiet waiting this week? I mean, a couple of things might some very nice spice potato cakes for brunch. On sunday. Does that count? I watched that documentary three identical strangers. Have you heard about it? I have heard about it. I mean, it takes quite a dance. But at the beginning is, you know, an extraordinary story about these three men of university age who discover that the triplets, and they were separated at birth and adopted through this particular option agency, but. Before it takes a turn for the darker. There's a bit where they are living like kings in New York City, and they open their own restaurant called triplets. And it just struck me as so other in our lifetime. People were queuing round the block to go to a restaurant just because of the novelty of it been rumblings really know it closed down in the year two thousand but you can still buy the mugs on EBay. It's my birthday soon. When is your birthday twenty April shit, but on? Reasons to be cheerful podcast about ideas with and. Geoff, lloyd. We're joined now by Adam Matthews, who's director of ethics and engagement for the church of England pensions board, and he joins us on the phone from Dublin. Adam thanks so much for joining us rich theory, just tell us a little bit about how the church of England has come to be involved in this whole question of shareholder engagement on climate change. But we're we're sure who in many today's sermon chartering pensions food is two and a half billion pensions from for clergy retired Krejci and people that what for the church, and so we have a responsibility to provide them with attention. And as a result. We're invested in many companies who would say tacit of responsibilities very seriously that we don't just invest in them. So the are actually wants to ensure the company invested in or actually punch of each impulsively toward society. I noticed issues like climate change, your student towards them to say, we engaged us opposition as a shareholder we'd have throughout their right as a shareholder, and we exercise. I'm not gonna be done in a number of ways. So finding shareholder resolutions. So into that company gyms and equally just from the Dr look we have with the company boards use variety of missions. And we should have with other investors as well to form some kind of missions too, much noise impacts it returned to have. Charging on Sonoda pasta resolution around the Paris climate change agreement and the da to invest in companies that were acting consistently with that is that right? Chest parliament's, basically views I work on climate change any particular, however, engaging and it very much sort of the person taking which is the rearend gauging but rule so very clear when companies don't have an expectation that they need to align that businesses to the Paris agreements. And so they reinforced commitment company that on most of mine in the past screaming starts into twenty and in particular, if they haven't lines on its Jackie loyalty, Greece by twenty twenty three though becomes thrust of disinvest film. So obviously that that's been a time to end up saying gauge went, but as an engagement with the focus, and we've also created a tool, which sort of independent I could tool that will school Nomex school transition costs manage to reach is going to be the baseball, reassess companies all making the progress, we need them to notes, and that was very much sort of position to know that they will come crashing. Transition initiative, which is no bucks vestige was fourteen trillion dollars. And I said that they manage and we'll be using sort of independent source to determine if companies are moving in the right direction and tell us a little bit about in practice. What the effects of you'll invest avoids has been a Stoltze was gel. And then recently, the church was involved in a wider campaign around Glen cool for the first time, you goats a level of coordination between investors. This never happened before. There's there's been enormous sort of collective so we need to work together across three sort of investment industry. And so you got collaborations during between all the global investor network, and you've got so like enormous numbers like thirty four trillion dollars. Now collaborates in in global engagement with with companies, and and itself is an enormous time. I sometimes a circus in the major imaging companies on the sort of demands of of our investor base. I let the negotiations with the Dutch down to carts which show and just for the UN climate conference in Ponant last year. We had the service agreement with an oil and gas company and long-term shareholders that basically committed them to align in business to most Paris agreeing with them that they're going to reduce the Taliban tendency of impacts they've set targets covering auto emissions that it was linking it to their pay of senior executives under the same time of I'm pretty Nazi transparent. Intel's a how to measure their performance, I'm able to communicate with shit shareholders enough being probably she usually significantly the who'll say committee to you their locating and funding of trade associations and Moby bodies, which are having a very disproportionate impact on this or the whole global climate debate. So my sense is the key moment where you go investors collaborating. Globally you go independent tools. Investors have created. They're not gonna chains such as the transition pasta initiative. And now, you miss us companies starting to make very credible serious commitments that is changing their business models. Is it enough? I don't get. No. But it's definitely I'm starting to see some significant movement. That was my next question actually, you anticipated it, which is whether it's enough. I mean other words, some of our listeners will think. Yeah. But this is shell that continue to want to produce oil and gas for decades ahead. You know, the IPC said we built ten years to really, you know, turn this things round. How would you respond to that? When I I mean, I think it's an absolutely legitimate question. And I think trying to understanding dot clean. What seems enough? I think increasingly time is ever against us. But the kind of commitment that shelves come outweighs is credible. One in the sense that they are moving from oil to gas gas. Don't have a role in the transition coming Tate's. But then looking at how they can expand the activities, and they invest in low carbon technologies or in other renewables, and so then looking ineffective become an energy producer or green energy as weather's of gas. I'm so sort of credible policy. You can see on guest company, take it. Now, the proof is going to be very much in the delivery of this. And we Tim key points in the coming years to review the I'm Bishen, and how this it's with the objects of the climate process in the UN. But at the same time, you're gonna see all the. Approaches emerge as well from other companies. Learn fact, probably just going to have to start looking to produce more Royal, and I think that you'll see these approaches emerge in coming. So the months and years as really they were the pressure that they're now from from their energy. And we're oversee overlook and asking is enough. And I think we've got some cage key points, which will be I'm taking a judgment on that. And you've also been involved in the wider push on blend coal Australia's largest minor. In terms of the amount of coal it produces. And they've recently made an agreement about limiting the production that one Austrailia coalition minister accused quote, law taste, dipping greens. That's you think not accusing autistic in green or complimenting you with that. But but I think they're talking about organizations like the church of England pension fund, the will part of this climate action one hundred plus is that an important milestone. The Glencore decision. Yeah. No. I mean, don't you? Call the one of the largest coal producers in the world for the first time making a commitment that they don't see increased co production as as sort of the future pulse to that co business now, but in another himself was a huge significant message, and it's obviously generated the reaction it how among some of those that are very pro coal, and you have an enormously, strong pro Koby in parts of Australia. That's how to Jerry significant entrance on the political system. Drink called have been the first co compete, you make that commitment. There's a question in terms of how they get through it. And obviously we are kings sort of three of them on on the agreement that they reached we all talk about the mining companies. I will serve vote in sessions by American which wants to UK one of the largest so. Excuses Nissim UK, and it's about each when they see that co-production being reduced and another thing older these companies around the kind of pressure where it gets these commitments. We're putting these into frame what assesses I did enough member basically monitoring, the companies view are putting further pressure thing on things delivered in a timeframe insisting nature cheap lately. So it will significance. And I think it's the beginning of a very significant shift away from coal by some of the major players one. Last question, we have a thing on the puck test cold. The the Jeff Crecy why Jeff of appointed supreme ruler. I'm very hands off. I'm trying to think what position might give you in the administration because I'd always intend to church and state to be quite separates. But if he if we made you maybe minister for investment so pensions, what what is the first thing that government could be doing better in this area. If this is. I'm tension. Son have enormous power. I I know students unrealized Anna Pao that I think if they do know the gossip many have used, and I think what you're saying. A giant that way connected investments that is going to drive change alongside what government can help. I in a blame investors to invest regulation requirements on companies to disclose strategies in the way that show how they play the very impulsive vote and the governor of the Bank of England small counties as an extremely important role in sort of saying that whole he just public disclosure company today. It didn't go far enough in terms of requiring companies to set Telugu it, but it did sets a trench head. But I think investors between able to sort of push in the way that we are beginning. So so my my son says the we actually have enormous amounts of power. We need. Government regulation and doors to align. G Paris agreement was where the kind the always just around the three degrees malt. So it doesn't need to be more regulation than that. So to many don't strike a lot of performance in in Jayson, such as the car industry, and that trick each other teas, but equally I'm quite conscious that we do have the power of stand. He just needs to use it mobilizes added Matthews. Thanks so much for joining us. Thank so very place to speak now to you'll see cayden who is global senior divestment campaigner, three fifty dot org. You'll see thank you so much for joining his. I wanted a festival you could talk to his little bit about three fifty dot org and the history of divestment campaigning. Did they vestment campaigns? Go in two thousand twelve when it was kicked by v. Mckee Bayne who went through a big sort of I would say west tour in in the US three hundred different educational institutions. He appeared in gave speeches and there was a big crowd. Roads if students that were eager to hear him to start the vestment campaign, which you know, since then become bigger and bigger until until today, which is, you know, become a very significant campaign. I think one of the most successful climate change campaign that happened in the last decade or so, and can you talk a little bit of about the work of those campaigns on what has been achieved just going back to the reasons of these campaigns. I mean, like it all started with a group of people economists who look at the shares of fossil fuel companies, and you know, fossil fuel companies as part of the closure to their shareholders have to say how much reserve proven reserve on fossil fuels they have. So these are communists say, well, let's check how much they declare on the reserves and try to bring that all together. And they found a very interesting thing. That the amount of proven reserves that those fossil fuel company are declaring, you know, in the stock exchange and to their show shareholders. It's bigger five times. Then we allow to burn if we want to keep the climate and under two degrees, which is you know, causes a few issues. One is that, you know, some of this money and shareholders, the putting this money are basically putting their money on something that may not be able to happen. So if we want to keep the climate and the second which is obviously if you are putting your money into that. You're you're doing something that it's immoral because it's definitely sort of you give hand to to extract those reserve that shouldn't be extracted. So that was the rationale, and as you said at the beginning, it was mostly universities, so students in different universities organize themself and ask university, as you know institution who basically teach two science and say the designs saying that we can't really burn. This amount of fossil fuels and demand. Their universities to we draw their investments that they have endowment mostly from fossil fuels. It's important to understand that the vestment campaign like any other divestment campaign didn't start because we thought that we can bankrupt the fossil fuel industry that wasn't the case. You know, even if it's through without at the beginning. I mean, like the thinking was that that will take too much time, and we don't have that time to bankrupt. And especially when you talk about oil company, you're talking about companies that have a lot of liquidations and assets on their own. So that's probably not going to happen. Very fast. So the idea was to use the development as a political tool to de-legitimize the fossil fuel industry and create sort of this political space for politicians to come on board and regulate the industry. To what it should be. You'll see tell us what is the balance of the interaction of divestment and shareholder, activism demanding change, these two sides of the same coin in your view, or are they opponents I wouldn't say that their opponents. I'm like, yeah. Let's say that if you look at the history, and let's talk about fossil fuel companies because shareholders activism had its own space and many times, it's working. You know, it's, you know, one of the best strategies that can work, especially if you have a company that basically said, we want you to change your policies. So for example, it's forest company. You say that we don't want you to source anymore old growth you want. It. We want you to sort of go to ever in source from replaces then shareholders resolutions can be very effective because you can intervene. You can make your demands. And if you. Have enough shareholders that come on board. Your demand can be very strong. The problem when it comes to fossil fuel companies, it's a bit different. Because you know, essentially what we ask them is to close the businesses in couple of years. So it's not about, you know, change your practices or do this thing or never we say, basically, I mean like we ask you for, you know, phase out plan assist suicide in terms of their stock markets. They will, you know, go to zero in even negative in no time. It was a path that fewer again is Asian like the church of England for example, choose to go when they put shareholder resolutions. I mean like they got something. I mean, like, you know, they got Exxon to say we are going to disclose our carbon emissions it sits right sits rabbit from that point to say, we are actually phasing out our oil and not going to look for a never reserves, and it cetera that still really far, and I doubt if. That's sort of compatible with the amount of time that we have to avert any climate disaster. So when you hear about organizations like a climate action one hundred plus which controls these tens of trillions of dollars around the world. They are vonda standards some combination of shareholder activism with the threat of divestment yet and using that as a place for that. Yes. Yeah. That's that's the ever side. I mean, like, I think when you come to a company in say, you know, we want to produce a plan that is compatible with the Paris agreement and the two degrees. And if you're not going to do that by the end of twenty twenty or so we are actually going to divest that's a complete legitimate. You know, if you put the plan that basically say what actually needs to do in order to comply with the Paris agreement. This is something that will cause, you know, each one of these corporations fossil fuel companies to as I said, I mean, like basically decide on a phase out in in this sort of timeframe this sore never so shareholder resolutions that actually put that limit and say we will divest is a good solution. I mean like when. When they put that time targeting in place, and where does your campaign, go next? You'll see I think you've implied that this began in a few colleges in America and has become a global movement. Where do you see it going in the in the urgent months and years ahead looking at the political sphere? And I even say losing hope, but seeing that they're moving way too slow than what we that we need. I mean, like we are in definitely sort of an urgency tuition. And one of the thinking is that you know, using the war can expertise that we have on the vestment we can ramp up our campaign to the next level and talk about financing direct financing. So I mean, like, we know the fossil fuel industry needs loans needs insurance need a lot of things to operate. And the idea is to sort of take the same model that we use in the divestment or similar modal. So means like do it to decentralize in use. The power of the grass roots in the go after those banks or institutions that actually fueling the fossil fuel industry and demand to just, you know, do that. So obviously, I mean, that's not new. I mean like there few organizations that already doing that work in different places. I think the uniqueness is about thrifty will be that we will do that through the grassroots in through the network that we have not sort of through lobbying and Eric conversation with with those institutions. Okay, you'll see cayden very inspiring to talk to you. Thank you so much for joining us. Thank you very much. Well, I'm delighted to decide that we are now joined in a studio by Catherine halif who runs the organization called Shah action, and Catherine I have known each other a long time. She was a fantastic realization good west London, citizens which became citizens UK when we first met and she runs a share action. Thank you so much for joining us. Great. We hear. Tell us a bit about share action. And what you do. Sharon Shinn is building people power in the investment industry, particularly a millions millions millions of people are pension savings now. And that gives them in a way quite bit of power because what happens with the pension contributions when they disappear out of a paycheck. Once a month. Is it goes to buy the biggest companies in the world shares in the biggest companies the world, and we're all interested in the biggest companies in the world get up too. So that's the sort of space that we're working in trying to democratize the pension system hate that word. Whoops. But it's trying to make sure that the decisions made in that system really useful for everyday working people. We do law on climate change. And we're going to talk about that. But it's not the only issue, you know, that that companies employers companies in the way they operate all over the world make a difference. Difference to us and we just fail. The whole system needs to be more accountable on the truth is as we've discussed a number of times, most people of very passive when it comes to the pension in terms of where invested they are. But you know, they we can and only taking them up the way. Yeah. I I'm this past net comes at seven AM in the morning, and I'm shakes up showed. I have control it agency of their own pensions. Well, very let listen is totally designed to make sure that you festival don't know. We'll have to the money and that if you do know, and you do care you'll kept well away from any of the important decisions. But that is changing little by little. So you know, some of the things on Brady proud of that. We've want us and changes that require pension funds to tell you where they put the money and how they voted the important AGM's of the companies in the in the portfolio. So we're beginning to win. In some more rights to information and influence, but it's not a system designed to empower the ordinary person the long way to go, and we're told him the podcast about Dr vestment, and the particular issue of climate change, tell us a little bit about share actions role in this whole thing show while we as he considered how famo- name share action. The big thing. We're into is shut hold activism. So we buy shares in companies, and then we pop up at their annual general materials. Trouble two, that's one way of putting it to you know, awesome constructive questions of the board. And the amazing thing about it. Over the years, we've been doing this a long time is that little by little we've secured as allies in that process. Some very very big powerful investors, and including the treasury Melilla just heard from church of England and nest which is the big pension. Providers setup by the government for pensions. Automatic enrollment dash in amazing scheme really engaged with what's going on in the companies in the nest portfolio. And so we've slowly built some great relationships with big investors. And when we make the case to companies for change, we've got some quite big friends most to leverage, the you have is that you make them feel uncomfortable at these AGM's by skin difficult questions. Or is it that you say we're going to take the money out of this company on put to elsewhere. Well, that the take the money away threat is Israel, an interesting one and overseas divestment movement is built on. But it's not the only threat. So the great thing about being shoulders, you call some voting powers, you can decide who's on the board of the company, and that's why it's important to have really big shareholders working with you. Because they have a lot of all the foot in the door. You're not buying billions of pounds with shares. You you get. A share or two to get your foot in the door. And before the big investors then. Support your resolutions, basic. So we all I think on proud of being the best example of of how much how you can wield with a single share. It's so much. It's also about building the so-called business case for change. So on climate change, Greg sample, it some genuinely quite risky to just proceed with businesses usual, and we point that out on some of the, you know, again campaigns. I'm really proud of what we've been doing in the banking sector, where even a banking is sort of in a way, it's a low-carbon industry because it's just a few of glossy towerblocks here and there in business districts or bronze his on high streets, but actually the lending decisions of the banking sector pretty make it one of the most important industries to to engage with if you're interested in climate change because every time they finance a coal mine. Every time they decide instead finance some wind turbines in the north. Something that is really material difference to our client outcomes. So we've really been pushing the banks and bringing the big shoulders with a son. And we we make the case it's just on wise financially to be lending to co and we've been quite successful on because it is online. Just explain the unwise part of the this sort of concept of stranded assets. So basically if if government change their practice on climate change, it won't be possible. Whatever you think of the ethics of it will be possible to use these so-called assets like coal, and so on and therefore you'll have lent money or you'll be invested in things and you'll lose your money. But that's some about investment. And just on climate. Tell us about some of the activism you've been doing some of the change that you've seen. I mean how much change are. We seeing from companies, do you think that's the activism that's targeting companies that energy uses and then as the activism targeting companies like Glencore also Kabbah energy providers award about how what progress is being made on those. Would you say that is work in prior tougher nut? Of England decision around Glen coach we've heard about lately, we very closely involved in work behind the scenes or not. So very proud of that we I've been I I filed shoulder reservation BP and shell back in two thousand ten so when anoint his own and. This lonely swinging around. I'm it is slow progress in that she the the pace of change in the fossil fuel industry is is absolutely not commensurate with the climate challenge right now. So we need much more pressure. And by the way, the source of that pressure needs to be ordinary people. Like, those that listen to this wonderful podcast that have a pension. And thank yes. Know, I don't want my pension invested in companies that are still not with it. So what can people do them? If you listen to this. You've got a pension and you want to feel like you can wailed some kind of pension plan. What you should absolutely do is make sure I'm right to your pension fund may show that they're in something called the climate action one hundred plus investigate which is the biggest dumb coalition of investors around the world acting them tens of millions of pounds is dollars roller welp pounding. And you should make sure that the people that make decisions on your pension fund board have had some training on climate change. You'd be amazed. How few of the pension trustees and the board members of actually really learned about science. And once they do that really makes the difference. If you really fancy getting involved in this then get in touch with share action because we train people to go to these company AGM's announced the questions, we've learned the most brilliant time at BP's AGM last year, though, everyone says about. It was really they they always get a lot of activists the GM and they've always held in London. I think they thought they shake off the activists by moving the AGM to Birmingham and not of it. We had brilliant training in Birmingham. And and we were. Actually, half the rim. We had question off to question. Putting the ball. Really? Well, designed question we prepare people in radio well researched questions on it out here. It's it's reviewed TIMMY embarrassment for the boulders that mold them the well. I mean, the answers they give it very telling the public in a lot of journalists Rosa in the rim. And yeah, the the board say at the GM is on the record is very important Palestinian people want to know what they should do the people think you. Well. Okay. I like the idea, but what do I actually say in my left or to the pension fund and other? That's the information averaged on your website to the share action website or just give us a call. I'm way would like to be inundated is this route through the pension funds zone. Does divestments less shareholder, activism work. Yes. I think it's an quite amazing. What's going on? By the way. It's not the only thing we also need who's need bold action from governments. But ultimately, most of the world's emissions are tied up with on the fossil fuel in replied the way. Also, the agriculture sector is a warping producer of greenhouse gas emissions. These are industries where people have commercial interests in operations, and it's hugely important unnecessary that the powerful financiers on investors in those companies are not pushing for change but being held to account about how they the kind of dialogue. They have with the company's on this. We need more pension funds. Me just need to get bigger. I mean, by the way, it's like Maurice's be cheerful whole thing is just been taking off in such a dynamic way. Like ten years ago responsible investment was like a joke. Industry is not joke anymore. I'm know the biggest bummer in the world is BlackRock. And they are marketing like crazy. How good they are on this, by the way, then note perfect, but the minute they're saying how important rule is. We kind of got them in a useful place. And then a lot of the work that we do share action is trying to really get under the skin of what's really going on. Because there is a lot of greenwashing in the investment industry now and are not needs to be exposed. So that's part of what's what's needed. But we also need stronger regulations and laws. We're seeing that in the U K brilliant, some really important developments for whether it's the Bank of England governor, Mark Carney. But also the fun. Conduct authority, the pensions minister, it sort of all happening, and then it's very much happening you level if that Europe is really leading the world on this agenda. I mean, we were loads of things that way, but it is a global industry, finance, and we're doing some things in Europe, which I think having big ripple effect in a very positive way. We are thinking on the podcast, Geoff. Oh Crecy where I am installed as a benign, but very hands off supreme leader. If I was to make you minister pensions, but of of you go you have autonomy. What is the first thing you do on day one? I think what we need is to really open up space. So people are not insufficient. Forced ignorance around what happens to that pension funds. That's just not fair. So I would like to see a law that requires pension funds to ask you, your views about climate, change and sustainable risks. So that can be built into the way that they invest on your behalf. So I think that's totally doable absolutely necessary, by the way, one of the byproducts of that is that people might actually think general actually, do you need to maybe buy one less coffee cost her and put a bit more money and my pension because that's the other side of pensions is. Saving enough for our old age. But along the way, we do not want to be invested in things that are destroying the potential for serene and happy retirement. And so it's joining the dots and making people able to to to have a voice in the system, Catherine out. Thank you so much for joining us pleasure. It's what did you think? I think it's exciting is exciting to think that we have some degree of influence over these big corporations. A quite like the idea of shareholder action going to an GM like people squirm asking some difficult questions you energy? I mean, I think it's fascinating is this is a movement the divestment movement that started a few campuses in the United States. And now is a multi trillion dollar campaign version of shareholder engagement and divestment got the church of England involved. You've got the Norwegian state sovereign wealth company involved. So there's I mean, there's definitely reason to be cheerful. Definitely. And I would definitely like to say somebody using this kind of power with my pension had a pension and half, which has another subject. I mean, I didn't want to be a Downer of Bill mckibben who founded three fifty dot all can you know, what do you want school three fifty dole said three fifty walls, the attempt to sort of stop dangerous climate change by stabilizing the carbon dioxide in the atmosphere at three fifty parts per million, which is called three fifty told old it's currently somewhere around four hundred ten parts per million. Okay. But that that's not the bad politics. Really? I mean that is a bad part. But it's get I mean, he wrote this piece saying winning slowly is the same as losing. And I think the thing I take out this. And I think this is where you'll see his right is what you go to avoid in this. And I'm not saying subject to this greenwash, you know, oil companies saying, oh, yes. You know, we're gonna do this roic assumptions because they've got these sometimes they have these Iraq assumption that says carbon dioxide. Admissions carry on going up for like twenty years, and then they full magically. And it's all right. We don't have that time. Emails reasons. Cheerful podcasts dot com. Wisdom switzer. Cheerful podcasts offense page reasons to be cheerful podcast. This podcast is supported by linked in learning. We're all at different places in our careers. Some of us are just looking for a job. Others are trying to get promoted manage a team or do something new wherever you're at linked in learning has more than thirteen thousand courses taught by industry experts to help you succeed in your own way, anytime anywhere. It features. A vast range of business tack and creative skills. Employers are looking for visit linked in learning dot com slash learn for free to get a month free and to keep learning in all the career moments that matter to you. And pitch the Mondays which could be potential reasons to be cheerful. We are joined by Betty amount. Hello. Hello. Well now for people who aren't familiar with your who've? And I think I'd isn't included in this. I am right in thinking that most of what you do is is musical in nature. Yeah. I'm primarily a musical, man. An idea musical things of with my face kind of beat boxy Singye things. Sometimes I use electron explore haven't gotten electron IX. So I could demonstrate very briefly if I guy. If I dear. New york. Pryatta again during two again, look it. I'm making myself. So cheerful as absolutely brilliant. We definitely want to recall this. That's Olen man just needs to be boats, and you'll be super super cheap flights or now, you I like I like the skills wall sort of equivalence of, you know, plagued point in the piano. Well, you can say boots and cats with none of the house. And then you you're so if he's done it, and that's it give it boots and cats cats, cats cats, but. Novell's? Two thousand as just work on eliminating. But cats. Try something simple. No. Yes. I just Edmund about to be books. I realize ahead of you. Now. Thanks so much for joining us. Really? It's just again, the one I did how did you? Oh, wow. We should take this on the road. We definitely should. Yeah. You've got two guys. How did you get into it? We discourage most children from doing extra vocal sounds. But I wouldn't listen to reason. I was carried on going for me when I was a kid. I was watching police academy and things like that. Easy math noises. And so can you do the helicopter in the machine gun gonna try? Shing. Bevan's got different. No. Hey, guys. This is a revelation to you. I'm sort of incredulous. I didn't even know this. I ne- I've never heard the term. But I you know, I sort of engaged with as you didn't own. It was there you could have been I set the thing. I love the most is your helicopter. Again. World War One biplane. Again. Completely useless skill. It's nice. But it's pointless. Why why if you've done that PM keys that would've stopped him dead in their tracks? What all the helicopter? Yeah. Scott all the machine go. Any of the? Yeah. Or if off you've made a ready banging. Win the debate as a rebuttal. Honorable admitted bound you stand up to stop barking. What are they gonna say that you can't come wouldn't be on now that and then you win again just winning winning solutions? Your again, actually. All right. You've you've some ideas. I along I have some noises. What's what's the first one? I'm well. So I've got to ideas, really the first I think is eminently achievable. Is it very thought it has to do with switching because I think these times have changed when needs to adapt to that. And we need to leave the changes that it'd be changed by this tempestuous. Well, so the first one is about switching the off and on again, and this is eminently achievable. We have the ability to reset button the reset button for the for the so tend to work on most electric equipment it does. And there's so much actual next on the wine. I'll just do it to the whole planet. Basically, you take a rocket which we now we can do land on an asteroid, which we know we can say give a little bit of a base, maybe a touch aside of sale too. So it's just the right trajectory. And then you've got this large, maybe twenty kilometer wide iron rich objects, I'm careening towards the. It will smash into extinguished most surface life, but you won't get that pesky radioactive food out of a feminine clear apocalypse, which would be deleterious to the recovery period off to the catastrophe and the right way going wake, destroying we're destroying all life on the planet, but we're going to anyway, my point is that we going over. Clean away. He's less cruel. If you just ripped not Plosser and just wipe the slate clean because you still they'll still be life, though, still have microbes in extreme files. Living in the cross. They'll still be he's never been a time. Which is when you restart even as a hard reset on your iphone, or whatever you can sort of spoil the settings in the cloud. Whereas what's this over quivalent of the I cloud in this? Well, there isn't one more to the it'll be different life will be different you'll have brand new complex life in a different direction. It's not for us to decide know we keep trying to control the well, we need to stop global warming near maybe just press. Reset button starts again, you have any problems anymore. You know, you won't have to worry about. What do we do after you? To me. Stop pool. Right. They will be but there'll be no one that's miss them. Which I think is really uplifting. The sweet release of death. It is fairly dark, but I think it's preferable to Brexit. Have you done to let your kids? No, they didn't spoke. Also, it's fine. I'm that we can do. But we shouldn't. But don't think we should have reset the by smashing the asteroid into it. I mean, we could bring the right? We could do a lot of things we should it's an option. I don't think it's necessarily the best one. But we could we're we're we're a haunt audience. But I think it's a little big three infant. Looking for things to be cheerful about and basically you're asking us to be careful about extinct, but different foams of life my evolve. Three. That's new and exciting. I think that's really never know. Yeah. You never know what they'll be giant catheters? I think we save that for the third. Jeff, chrissy. Sort of really kind of get you to the table and. With the with the trust of the Electra. Before embarking on that anything. Yeah. I think it's gonna Nassir feel as you'll so the poll tax quickly. Way in the door. Yeah. Yeah. Yeah. All right. What else? So the second one is not so achievable. But it's definitely something we should fly less sort of extinction oriented. It's way better is it's really dull. But it could solve all the world's problems and doesn't need to have anyone be what's up by asteroid. Good site. Basically, we should switch to a party list system. And I know that we tried electoral reform minute run didn't work, but that suddenly because people campaigned against it. But if we did switch to the system instead of first boss the post and make every government department across party entity with membership proportionally reflective of the vote, perhaps even having a voting system whereby partyless on more thorough wherein, you vote for a party to represent each government department for your geographical area, you might find that the sort of partisan squabbling, which engulfs every single part of government in every single part of life. Let me. Lindelof bit again. I said this really don't. Well. It's the funny thing about the geographic Larrea. Well, so with the party list system larger constituencies, right? Your region of Yorkshire. Right. Something like that. Yeah. I'm I'm the pasta system, you list instead of the individual that you want you list, the party that you want, and then you get government departments filled up in the order that the parties excites. So basically you're voting for policy instead of an individual is is an alternative voting. I the coalition you would end up with lots of cross party squabbling within government have one vote. You would have one vote. Yes. But it means I mean, basically what I'd like to do get rid of ood properties. Because I think there are problem. But you can't really do that. Because you can't stop people wanting to form them, and maybe you shouldn't want people to not foam political parties, maybe you need to design democratic systems around this natural predisposition to carry get. We are unusually not having coalition. And part of that. I think it's the first boss supposed system thirteen first-past-the-post is is is good for that. I hope out say is it. Yeah. I mean, the both my policies interested in preserving it because you end up with one or the other in quite light the continental systems what? Yeah. Yeah. Second and then become the prime minister. There was a sketch from Alvidi impact the GOP promoted by by size debate. When it was the alternative vote system that was the that was a referendum about and this sketch that was cited by both sides as a reason that you buy should and shouldn't have form with the sketch weather trying to figure out what color they should pay in their room, and they decided to go with the alternative vote system. And it ends up being the none of them get what they won't. They will get their second choice. And you could argue that us good thing or a bad thing. Because democracy is the the sort of best of all the west solutions or you could say that you don't like, that's what it is his will the breadth of your ideas. I think things very dull that was what you were going to go. Is quite good macro and micro- and just to be clear. You're not presenting with an either or Shen will fly the rule either mass extinction. This party the cover all the bases. I mean, this is such a divisive world at the moment. And now political party membership has become almost religious, and it's fervor and the only way to dismantle vows maybe climbdown if these kind of opinion mountains is probably to adopt other Microsoft systems, in some way. Do you think that reform is needed? Otherwise, he'll be a bloody revolution. I needed. I it's really boring. Yeah. I've been thinking way too much about it. What about the German additional member system whereby you have people elected directly in constituencies? I think that's fifty percent. And then you have the top up to make it proportional to the overall vote. That sounds cool. I just think good robust today about fighting systems is what we need because people are getting started Johnson. They wanna feel the then we can have a referendum and they over that. I mean, they are absolutely the panacea. I think we should. But that was the problem of democratic design. That was a yes, no answer and remain was very simple thing. But then leave wasn't actually an option. They should have had five different options on the all had a sixty percent, fresh all referenda. So it's not a democracy is broken insisted. It needs little tweaks until fixing. Yeah. Very dull was so serious. Good. It was good. It was it was serious way. I mean, there's nothing nothing more serious. Nothing. More grave, in fact, the master. Oh, yes. Until one other question, can you give us another noise? People. Enjoy come and see you can see the phone you all out, right? And I looked me up on the internet. I'm there I do kinds of stuff and I'm working on an album at the moment of music, none of it about voting systems. So you'll love it. It's really entertaining. What would you annoys beef a first-past-the-post? What would your noise be for the additional member system? Hang I was supposed to be an additional member might be. That's pretty good. Thank you so much. Thanks, guys. It's been great by. Reasons to be cheerful with Ed Miliband and jet, Lloyd. Well, I think you've got a serious future ahead of you as a bait books, should you? Should you ever? Should you ever want them in a no public services at your core? Is the no way you could combine it with your current job. A beat box sitting on the benches people almost all. I think we think so I think I guess yes. Why don't you think I guess I'd like to thank Catherine Howarth at a Matthews and you'll see Kate. And I I would definitely think about the ethics of my pension. Should I have get one? Good and thanks to Betty man for giving us the gift of beat boxing. Putin cats and mccutchen produces a podcast with research by Joel piss Lofthouse's, Iran answer, James, they may be identified safe. Composed the music and the artwork was designed by. Powell well, he's been boots. He's been kessel. These Bain reasons to be put some council cats. Butson but said cats. This podcast is supported by linked in learning. We're all at different places in our careers. Some of us are just looking for a job. Others are trying to get promoted manage a team or do something new wherever you're at linked in learning has more than thirteen thousand courses taught by industry experts to help you succeed in your own way, anytime anywhere. It features. A vast range of business tack and creative skills. Employers are looking for visit linked in learning dot com slash learn for free to get a month free and to keep learning in all the career moments that matter to you.
Monitor Show 04:00 02-16-2021 04:00
"Day at bloomberg dot com the bloomberg business and at bloomberg quick tate. This is bloomberg radio. This is bloomberg daybreak europe. The ideas three hold the economy and suspended animation until we get throw this virus. We all picture of montre dominance we will get so gross. I mean let's not get confused about that. We all in a national cross. I think food policy food together. Euro area is facing an economic contraction of magnitude and speed that are unprecedented in peacetime bloomberg daybreak europe on bloomberg radio. Good morning from london. I'm anna edwards at a very. Good morning i roach. E- hearing you're listening. To daybreak europe. Live on london dab digital radio. Our first outing together absolutely. Yes very nice to be presenting this hour. Nine o'clock hour. London time off bloomberg radio with roger so as we look forward to plenty of conversations around the global markets global economy and politics. The way no doubt. Let's check the markets. Shall we this hour. And we've got the stock six hundred up by two tenths of one percent the footsie one hundred getting the best of the gains today when you look at the sectors and the ones that are in positive territory is not hard to see why we have the one hundred moving to the upside little bit more than the others. The cac is fairly flat in paris. The dax is last in. Frankfurt is basic resources and energy lead us higher. And of course we've have numbers out from hp and glencore both of those increasing pounds to shareholders and that set a positive tone for those sectors energy. Names also moving to the upside as we continue to see upward pressure on oil prices. I'm not reflation conversation continuing. We'll have banking stocks.
Mac OS Ken: 08.28.2020
"It. Is, MAC OS. It is still more pie more ethic trolling and Apple TV plus news. It's Friday. The Twenty Eighth of August Twenty Twenty I'm Ken Ray, and this is news from Moco West. Ken brought to you by yours truly and sponsored by better help online counseling. That's there for you. Get Ten percent off your first month. That better help. Dot Com Slash Matt. Go West can. This show is also sponsored by squarespace your place online. the weekend. Does that mean anything anymore. Doesn't. If you got extra time this weekend why not give squarespace a try? Square spaces great for building a website. No experience required. I had my first sight up within a couple of hours. Just because it's easy though doesn't mean it's not powerful. I've heard from folks who have been amazed at the uptick in their traffic when they switched to squarespace and put it search engine optimization tools to work. squarespace has great analytics. They've got support for selling stuff they've got twenty, four, seven customer support. There's that word again support. That's the thing. squarespace isn't just about the site it's about the support as well. From refreshing an old site to a whole new venture, almost anything you want to do online, you can do with squarespace. Go to squarespace DOT COM slash MAC os Ken for a free trial and when you're ready to launch us the offer code. Moco West Candy the save ten percent of your first purchase of a website or domain. Start Your free trial today, and when you're ready to launch us the offer code Mac West Ken to save ten percent off your first purchase of a website or domain at squarespace dot com slash. MOCO. West Ken. At a big thanks to squarespace I, bond touring today show. We haven't had to do for a while. The whole a smaller slice of a bigger pie still means more pie thing. I saw a few headlines yesterday likely meant to induce cliques that said apple share of the wireless earphone space is shrinking. True. And false. While apple now commands a smaller percentage of the wireless earphones space the space itself is getting bigger. That is, of course, how a smaller slice of a bigger pie still means more pie. The story that sparked the headline seems to have come from a few numbers from counterpoint research cult of Mac ran its take under a less fear mongering more pollyanna headline. Apple could sell a massive eighty, two million air pods in twenty twenty. As always I'm assuming they mean pairs. Looking to the recent past counterpoint says apple commended half the wireless earphones space in two thousand nineteen for this year the company accounts for a smaller thirty, five percent of the space. Though that space is booming. Sold, an estimated sixty, one, million pairs of air pods last year this year, they're on track to sell the aforementioned two million. The low to mid end suck men including Chinese brands and US makers taking away share from the premium market according to one counterpoint analyst. Still. More. Pie. The Third Public Betas of. Seven is out apple insider says it came out on Thursday exactly one week after the last one. Like clockwork. No new features listed since the last Beta though the piece does remind readers, what's in the update saying watch os seven introduces a new sleep tracking feature and the volume safety alert to protect a users hearing additional features include new fitness and workout options, refinements, apple maps, and Siri a hand washing timer and new watch faces. And as always if you rely on your watch. Both apple and apple insiders suggest not installing the Beta on it. Do It on our next door watch if you have such thing. No Betas on mission critical or primary devices. That the. Apple insider creed. Apples looking to make an antitrust investigation and south. Korea go away cult of Mac ran randy's earlier this week saying the Cupertino Company had offered a remedy of one, hundred, billion, one, roughly eighty, four, million dollars us to help segments of the population that it would really rather not say it hurt. According to the Peace Careers Fair Trade Commission has been investigating Apple Korea for reportedly forcing mobile carriers to pay for advertising and warranty repairs. The payout, which is phrased like a pledge but also sounds like a fine will act as a make good on apple's unfair terms. Citing a Reuters report the P. says the money would be split forty billion want to build a support center for our indeed for a small manufacturers in South Korea. Twenty, five, billion, one for an academy for Developer Education and twenty five, billion one for consumer discounts on warranty repair costs and other benefits. As is the way in such cases, apples paying the eighty four, million dollars for. No apparent reason on paper the offer is up now for opinion gathering if everybody's cool with it, South Korea's FTC will close the case without concluding whether. He did anything illegal. As one case seems set to go away another looks ready to ramp up. Apple insiders says, South Korea's Ministry of Science and IC- T has announced that it is to investigate. And Google. The claim is the companies used their positions to impose high fees and can also alter conditions at well. The news follows complaints from developers a couple of weeks ago. The Korea Startup Forum complain then. That while the thirty percent commission rate charged by both apple and Google is too high in itself. It is more problematic that they force us specific payment system for the APP markets. Citing a report from the Korea Herald Apple Insider says the ministry says it intends to survey developers further. It's possible. The findings may result an amendment to the country's forthcoming telecommunications business. act. which is due to take effect in January twenty, twenty one. What do Apple Dell, Google Microsoft and Tesla all have in common. Apple insider says they're all trying to have a class action suit against them dismissed. The five companies were sued last December accused of knowingly benefitting from the use of child labor in mining cobalt for their batteries. Of course, none of the companies actually runs a cobalt mining operation rather each may or may not use cobalt mind an operation called Glenn. Core. May Or may not. According to report on Wednesday afternoon and the joint filing the tech giant's filed to have the suit dismissed in clear language. The filing condemns the use of child labor and says that since they don't own any cobalt mines, a supplier such as Glenn core as named in the suit can be positively identified as the source of cobalt they use. Would feel a lot better. If those five companies could say, we know we don't get cobalt from Glencore instead of. No one can say for certain that we do get cobalt from glencore core for its part Glencore says the cobalt itself is a byproduct of its industrial copper production that respects human rights and that it does not tolerate any form of child forced or compulsory labour. The suit brought on behalf of multiple specific plaintiffs as well as others similarly affected seeks a trial by jury damages and costs, apple insider says it also wants the companies to fund medical care for the miners. And an environmental cleanup effort. More news in a moment but first a word from better help online counseling. That's there for you. Right now as strange someday seem fine some days. Less so If the latter is outnumbering the former. You May WanNa give better help a try. Better help a sort of built for today because. It happens online. No need to worry about social distancing and no need to worry about who knows what about what up to. Everything is confidential. You find that meet with your own licensed professional therapist on your tablet, your smartphone, your computer. Whatever's most comfortable for you. And if you and your counselor don't Gel. Finding a new one is easy and free. So many people have been using better helps their recruiting additional counselors in all fifty states. If. You need help. Give better help a try. As a listener, you'll get ten percent off your first month by visiting better help dot com slash McCoy West can. Join over one million people taking charge of their mental health. Again, it's better help. H.. E. L. P. Better, help dot com slash Mac. Os Ken. One more time. It's better help dot com slash Mecca. West Ken. And a big thanks to better help for sponsoring today's show. When trolls grow up. They want to be epic games. I'm not saying at bag doesn't advocate in its fight with apple that is for the courts to decide. But seriously they've done some epic trolling emailing Tim Cook Two am to tell him what was seriously just about to pop off. Breaking up store rules in Fort night knowing that apple would kick forty nine out of the APP store as a result and being ready to go with a lawsuit, a video mocking apple and a game giving away anti. Apple swaggie prizes. Seriously epic trolling. Not surprisingly, they're not done. Fortnight. Chapter to season four was released Thursday made available for Consoles PC's and android devices. Providing the users or cool getting their APPs someplace besides the Google play store since Ford night has been kicked out of that store to. Players playing on IPAD IOS devices and Mac. Don't get to go onto the next leg of the journey. Now macrumors says, epoch wants to make sure those players know what they're missing and who they say is to blame. No surprise, it's apple. At begun Thursday sent an email people who play fortnight on apple hardware in the email says, macrumors epic games blames Apple's UPS store fees for the unavailability of new content even though apple has said that if the direct payment option is removed and fortnight obeys. Policies. It can be updated and remain in the APP store while the legal battle between the two companies plays out in court. You know trolls GonNa troll. According to epics email apple limits competition. So they can collect thirty percent of consumer payments made in APPs like fortnight raising the prices you pay epic lowered prices through a direct payment option, but Abbas blocking fortnight in order to prevent back from passing on the savings from direct payments to players. Epoch has taken legal action to end apples anti competitive restrictions on mobile device marketplaces. In retaliation for this action, apple blocked your access to fortnight updates and new installs on all IOS devices. Seems like a one-sided oversimplification. But. What do I know? An Apple. TV. Plus series that I somehow missed entirely is back in production deadline says the Simon Kuenssberg David Well, series invasion actually started shooting again a week ago and Manchester England England across the Atlantic Sea. With, an international cast lead by drastic Parks Sam Neill the peace says invasion the set across multiple continents and follows an alien invasion through multiple perspectives around the world. Deadline says, portions of the series had been shot and New York and Morocco and producers were prepping for the UK shoot when the coronavirus related industry shutdown started in mid March. No Word on when the show is expected to air. But Hey, they're shooting again. And these days that something. And finally today the Apple TV plus Sofia Coppola Film on the rocks will be among the featured films at a thing. That's not really happening. Exactly. Variety says the Bill Murray Rashida Jones drama on the rocks will world premiere at the New York Film Festival as part of its new spotlight section. I say it's not happening though like a lot of things socially distance virtual version is taking place. In fact, festival director Eugene Hernandez says the event will take place digitally. and. Dry Vents. Honestly. It's the kind of thing you'd really like to see happen. I would anyway. As I mentioned on the rocks will be part of the festival's spotlight section. Sort of a weird name being NFL festival sort of like being in a spotlight. Also, if you shine a spotlight on a movie, you can't see the movie. Whatever Lots of needs, sounding films and the. Thing including a spike Lee film of the David Byrne Broadway musical American Utopia lovers rock the latest from twelve years a slave director Steve McQueen. Film of a poolside shot between Dennis Hopper and Orson Welles called funny enough hopper wells and an exploration of voter suppression called all in the fight for democracy. Those are just some of the films in one of the festival's five tracks. The event runs the seventeenth of September through the eleventh about Tober. The physical festival normally takes place at New York's Lincoln Center. You can find out more about this year's offerings. At film link. Dot Org. Coming up in a few minutes. The last place on Earth One song from now on tales of a favorite Mugunga. The Digital Media Zone Richard, Guenther spins the wheel of stuff in a few minutes. Listen, wherever you get podcasts or watch and listen at YouTube dot com slash Ken. Ray Mac Os can. Brought to you by me and sponsored by squarespace, get ten percent off your first purchase of a website or domain with offer code mce West. Can At squarespace dot com slash Mac West can. This show is also sponsored by better help get ten percent off your first month at. A help dot com slash Mac os can. Advertising handled by backbeat media online that backbeat media, DOT com. You can reach me a couple of ways. Info at Mac. Os Can, DOT COM or call seven, one, six, seven, eight, zero, four, zero, eight, zero. Until next time that is news from go west Ken. I'm Ken. Ray. Chow.
Monitor Show 01:00 02-16-2021 01:00
"Whether you're super organized or search every file on your computer twelve times a day how close the a looking at those kind of move. You'd never have to worry about finding the latest business news. We put it right here. Talk about the commitment that has been made to acknowledge a how long those benefits loss institutional message really focusing on. Espn bloomberg radio the bloomberg business. Radio dot com diehard radio app and bloombergradio dot com. What do you look for it. We miss bloomberg. The world is listening broadcasting twenty four hours a day bloomberg dot com on the blower business and at bloomberg quick take. This is bloomberg radio. This is bloomberg daybreak. Here for this tuesday february sixteenth in london. Coming up this hour deep-freeze. Us energy crisis around five million americans across multiple states lose power while temperatures plunge oil and gas prices surge. The last lockdown. Boris johnson urges caution to avoid return to virus restrictions as he clans way out from the current curbs breaking barriers at the wto pigs. Its first african. And i a woman leader and the greek prime minister tells bloomberg there should be no more delays in the e u vaccine rollout. I'm the and guarantees with world. News on the global equity rally extends. Bhp earnings boost expectations for a new commodity super cycle glencore results to come. That's all straight ahead on bloomberg daybreak europe on digital radio. London bloomberg eleven three. Oh new york bloomberg ninety nine one washington. Dc bloomberg one zero six one. Boston bloomberg nine six.
Jonathan Goldberg - Capturing Carbon - [Founders Field Guide, EP. 25]
"This episode of founders field guide is sponsored by cleo wanted deliver marketing moments that lasts a lifetime. Cleveland's the ultimate marketing platform for ecommerce with targeted segmentation email automation sms. Marketing and more. Cleo helps you create your ideal customer experience. More than fifty thousand brands like living proof solo stove and nomad. Trust cleveland to grow their business. Keep your customers coming back. Get a free trial at cleo. Dot com slash founders. That's k. l. a. v. i. y. o. Dot com slash founders. This episode is brought to you by digital ocean digital ocean provides founders and creators with the platform. They need to get their website and apps off the ground all with low bandwidth pricing to save them. Money over other cloud providers. If you're looking for the best place to build web apps or api back ends on robust infrastructure digital ocean is the place for you. They provide a fully managed solution. That handles your infrastructure operating systems databases and other dependencies on their new app platform. Product at platform makes it easier to build deploy and scale apps or if you prefer to manage your own. Infrastructure digital ocean provides a suite of products that gives you full control to learn more about digital ocean get started for free at d. o. Dot co founders. That's do dot co slash founders alone. Welcome everyone i'm patrick. Shaughnessy and this is founders. Field guide. Founders field guide is a series of conversations with founders. Ceos and operators building greet businesses. I believe we are all builders in our own way in. This series is dedicated to stories and lessons. From builders of all types founders. Field guide is part of the colossus family. Podcasts and you can access all of our podcasts including edited transcripts show notes and resources to keep learning at join colossus dot com. Patrick o'shaughnessy the ceo of shaughnessy asset management all opinions expressed by patrick and podcast. Guests are solely their own opinions and do not reflect the opinion of o'shaughnessy asset management. This podcast is for informational purposes. Only and should not be relied upon as a basis for investment decisions clients of shaughnessy asset management may maintain positions in the securities discussed in. This podcast guest. Today's jonathan goldberg. The founder and ceo of carbon direct. A company focused on advising and investing in carbon removal at scale. Jonathan started his career in the commodities division of goldman sachs and then went on to start a commodity hedge fund b. b. l. commodities. In our conversation we cover the state of the carbon problem today. The importance of global carbon standards and carbon taxes and the future of carbon capture and removal technologies. This was a masterclass on all things. Carbon related. Please enjoy my conversation with jonathan gruber. Our michigan these episodes is to provide access to the best ideas and people in business and investing. We will soon be significantly expanding the scope of this effort to make it possible at colossus were expanding the team. In hiring to critical early roles the first position will be our lead mobile software developer. This person will lead the development of our mobile applications which will change how people learn together the second position will be our lead designer because the existing team lacks design experience. This person will have a blank. Slate to creatively designed new applications from the ground up to learn more about both roles visit join colossus dot com forward slash careers now onto the show to john. We've been trying to do this for a long time. So jack to do with you. Finally you've taught me most of what. I know about the topics that we're going to cover today. I at an interesting place to begin would be with setting up. Why you're such an interesting person to be attacking this topic and this problem with your career and with this conversation today gives just a thumbnail sketch of the major stops of your career. And then i'll probably ask some follow up questions on each just so we can lay good groundwork to the talk. All things carbon yep has. Thanks so much for having me here. My career actually started bit. Of course i think as many of your guests do in school at fancies of becoming a writer. I worked at reuters. They randomly put me in the commodities group to cover energy markets. Hadn't requested that just happened at three. People quit the summer that i joined that job. This may tell you a little bit about the quality of work at the time but got about sixty articles on energy markets that were distributed mining was eighteen years old at the time in you absolutely nothing about what i was writing about predictable to get some coverage got pretty hooked on global commodity markets. Why they were important. The geopolitics that goes into it especially energy markets. I thought it might continue on that path. I'm writing about it and graduating college checks rent levels in new york city and decided that something different might be a little bit more appropriate. I joined goldman and because of this interest in commodities got linked up with jaren which is the commodities group at goldman and really it was just a fascinating place to start my career so the commodities group goldman did en- does two main things on work with clients on their hedging needs. I worked with a lot of airlines utilities refiners and then after doing that for about two years and getting a good understanding of how these markets worked i gravitated to rhyme with dan goldman was allowed to klay. Prop trading business within the firm it may have subsequently changed names but i essentially ran an internal fund within the commodities group for about six years and really enjoyed it. Great group of people learned a lot about the market was quite happy there. Round two thousand ten. There's lots of changes going on within the industry within banking within trading and left to go to a company called glencore which is a private company at the time to run the derivatives business in the us. Doing essentially the same work that i've been doing at goldman and also transition time for public years later. I had always had some designs. Starting my own firm in did that in two thousand thirteen using capital from myself. Some of the partners that i'd worked with at glencore and then some institutional investors and ran that firm till about the earned a half two years tuchus through a little bit of bbl's part of the equation that being the fund that started in after leaving glencore and really during that period. And maybe you could even deeper back into both glencore. Your prop fun days at goldman. Talk us through what that world was like when you came into it and how it's changed so let's call you selfish in this on behalf of your investors you were trying to make money trading commodities. I would love crash course here. What were the major commodities that you were trading sort of in what ratios how much oil versus gas versus other. What were the major strategies. How is this whole world evolved. Because while i've had energy investors on podcast before you know it the team that debased in who have had a few times on their primary focuses on equities. I've never actually had a commodities trader. On before so i'd love the opportunity with you here even though we'll spend most of our conversation what you're doing today to learn about this space walk us through what it was like when you started and how it evolved. It's changed so much during that time. And i might emphasis withers at bb or even before that. While traded a number of different markets including some macro market's focus was always in again the actual underlying commodity itself equities not fixed of commodity companies end within that my specialty is really in energy products so crude oil crude goes through refinery and then produces refined products. There's no demand for crude inherently. There's demand for things like gasoline diesel in other products that come out of the refining process. That was really where. I cut my teeth and continued to trade throughout the bb l. time the commodities often were correlated. So even if. I didn't have a position on. I'd always keep a close. I'm was going on some of the other commodity markets and its inflected a lot. It'll be interesting. Actually as we dive into the carbon discussion. When i started there really wasn't any electronic trading and sort of hard to fathom now in two thousand three majority of the trading were bilateral transactions. They were a bit slower to occur. You had to assign different credit charges if you were doing. Crack spread trade with a shell or a valero had different credit metrics very different from the exchange clearing mechanisms that essentially all of the trading is done on now and also the dissemination of information a lot slower so it was all public information but fairly well guarded in terms of how people were doing analysis on say cushing oklahoma stocks or on inventory in your car and today in a win inventory. Data's release on every wednesday that data's instantly analyzed within people's trading systems and oftentimes. It seems moves a second after the data is released. it's been digested in traded. So it's just different. I think there was more little bit more interpersonal relationships with trading. When i started because the information is harder to come by we would spend a lot of time in asia getting to know the people who trading those markets and that became a bit more of the funnel. I think that's not really the case. Today you talk about the evolution of what i'll call alpha. Can i have to say alpha beta right like you could just belong oil for some reason over a long period of time but what were the strategies you already mentioned relationships the importance of maybe information. That's become less important as you were successful. Especially across like the period of biella maybe glencore in the most recent decade. What were the key strategies for making money as commodities trader and. How do you think that's changed for me. It was about having limited exposure to the absolute price of oil so oil prices up or down. Certainly there are cases where we've made him lost money by. Having views in either direction. I always found it more difficult because the price of oil could be correlated for example to the dollar getting stronger weaker where i didn't have a particular edge in understanding whether the dollar would go down others presumably better at getting on that where are alpha came was generally in relative value trades so basically we would have views that it's overused example but in the summer gasoline prices tend to do very well relative to these. There are changes that happened in configurations refineries that might favor on Versus the other so we were always trading fundamental qualitative strategies in those areas that we always had certainly our biggest success for those areas and often frankly cod wrong-footed if you were to make huge bet on a macro trend. Which was a little bit more difficult to discern. Do you think that there's an opportunity today in these kinds of strategies and doesn't look anything like maybe the opportunity size when you're at your most active. I do. I think that commodities. There's a lot of comments. I think for all of my years. Trading every year was the death of commodities as a trading thing sort of overuse narrative. Which i don't believe in. I think that they're going to be ample opportunities in commodity in both relative value and some broad trading strategies. I mean i certainly think might 'expertise was generally not in the kind of broader dollars weakening inflation but it is true that when you look at synchronize stimulus easy monetary policy things of that nature. There's a pretty interesting case for commodities over the next twelve in twenty four months especially with what's going on with long term oil demand changes in regulatory policy changes in investment structure from the oil majors. I think from a trading environment. It will be quite good actually. Let's talk now about a transition that you've made and i'd like to begin that transition with maybe describing what you're doing today but maybe we can even back up to. What insight did you have while still at bb l. Before he decided to move on from that business. And that kind of chapter of your life. Doing what you're doing now. What was the spark. Ignited your interest to change. I had always been interested in climate related issues. I would say for two reasons. One is near Open the science is apparent to anybody who chooses to look for can pay attention to it. Also as energy investor. I thought that a lot of the discussions that were going around climate. Many of them were helpful but also missing huge perspective. I think that people generally undress me just how big energy market is there's about two trillion dollars random investment in the energy industry. It's double that if you extend it to other fossil industries. That's a huge amount of capital every year. It's very slow to turn over and the other thing that always stuck in my head about the carbon issue that related to commodities is most financial assets as you're familiar with patrick are flow issues. How quickly growing sales which are long term trajectory in commodities are a bit of a mixture of both and carbon is what i'll wear if you need a barrel of oil bushel of corn. Need that actual bushel. So the inventory. The stock matters. Carbon is similar and actually more exaggerated where there was a lot of good work being done on energy transition for the flow of co two emissions. Not nearly enough. Because the flow with a little bit of a dip because of covid continues to increase per annum but the stock of co two in the atmosphere was about one point six trillion times where some variants in how that's measured about that number and the flow is only forty billion tons per preying on and for some reason that stock question just wasn't addressed in the conversation in spite of it being cleaned the science that it needed. I'd done a lot of nonprofit work while i was running fund especially met columbia. There's an energy policy center that has been on the board of since it started and helped fund something called a carbon management initiative about four and a half years ago and i just got hooked. This was an important thing to do. We needed to manage carbon in a big way to hit. Ib c goals. I had started just doing this. From a policy perspective. We would write papers. We still do get them. Into the right policymakers to help with things like carbon tax recommendations and other work but when i started digging into the industry there was just nothing there. There were no companies. Essentially doing this work. There's very fragmented demand for people buying carbon removal or carbon management services. And then when you looked at the science science assumed that we would get to. We were assuming a negative emissions industry of roughly ten gigabits per annum really inflicting in two thousand and thirty growing till two thousand fifty. We do nothing today. And just as a proxy the entire energy industry only moves about five gigi tons per annum of stuff so we need to build essentially an anti oil industry if you will or industry that can remove the stock of co two to acts the size of all of the oil and gas industry. And we need to do that. Now i love the framing of stock versus flow. And it's a really good excuse to talk about like the major levers and drivers here so one point six trillion versus forty billion tells you that probably the bigger bang for the buck would be removal or reduction of the stock versus reduction of the flow. I don't think i've ever heard anytime. Purchase issue it's reduction of the flow. That seems to be the thing like. Here's the annual production sources. I wanna talk about that too. And if we reduce them start to solve the problem but talk us through just why the stock is so important what we need to get that down to referred to the science a few times. I think it'd be helpful to hear your perspective on that science. What are the potential range of consequences understanding. This is a complex system. I'm sure some of it's not predictable. But what are the types of consequences were talking about. And then let's dig into the sources for stock and flow and how it might do something about it. I think the person who says wouldn't be very clear. The flow is essential. Lot of our work is also focused on that. We need hit net zero on an ongoing basis period. That has to happen. I think our point is a little bit that there's a lot of work being done in that flow analysis and in the investments that being made in that needs to continue in accelerate. But both things really do need to happen. And i think the other thing that we generally emphasize when we talk about carbon management broad base of the abatement or slowing the flow and also the removal of co. Two is that frankly. Most of the models assume that flow is going to zero or something in order of magnitude two zero. I'm very skeptical of that strongly encouraged by some segments of the economy. But when you look at for example we do a lot of work in this industry. It's meant in heavy industry. Huge metres eight percent and then roughly twenty percents extended it to broader swath of heavy industry. That's more than all the cars trucks planes but together in the world by a lot and there's very little innovation happening in that industry. There's a couple really promising. Companies are working with that. Are doing things like low carbon heat for example or decarbonising cement and steel process either through capturing co two emissions or through cheering it in the actual production process. But we're very far away from getting those huge numbers down towards zero and that's a little bit where we're focusing on key round out that sourcing pie for us. Oh heavy industry is twenty two percent of the emissions on an annual basis. What's the rest. Just be helpful. Level set people like years where the stock is continuing to increase because of an annual flow a cure the sources of those emissions. So if you look at it transport broadly speaking you can get a little bit more specific in terms of consumer vehicles in the asian trucks etc. The big buckets over transport heavy industry agricultural land use changes is a huge part of this in. It's one of the things that were very concerned with because as the world changes actually the stock of co two from certain natural sinks change get released into the atmosphere can become more problematic than obviously the power sector being the last big big bucket in. I would guess in those. We do see a lot of slivers of light very promising things. Ev's are on a great path although it is interesting if you look at the sectoral emissions from the consumer automotive sector in spite of great news from the tesla's of the world. They're not untracked at their parents targets. Which is pretty fascinating even when you take it. Sort of an acid in tow curve where electric vehicles are changing because existing stock of courses so high in the relatively long lived assets. We are unlikely to hit. The paris accord even in that sector let alone some the harder to decarbonise areas. Hauer been pretty fantastic and with the drops in solar. Tv's and a lot of that could enable changes in some of the other sectors and his quite encouraging what is still too slow. Can you describe the paris accord for us. Is that the most important of the global standards or sets of goals if not what are the other important one maybe to start there. What is it exactly almost like an inventory of the things that we're working towards. There's a number of different. I guess important things. Paris i think is very important. It is non-binding. Obviously be better if it were finding a core but just getting large nations coordinated in a way to commit to a cuoco. Carbon budget over time is a huge deal. It was a big accomplishment and we should have stayed in early. encouraged others in the paris accord. Hopefully plana the new administration. That will i actually think some of the things that are driving the market more today are more nationalized and even local policies. So there's a lot of things out there on the compulsory side like the us which is carbon price by any other name in europe has a huge annual turnover about a trillion dollars in impacts industry it impacts most if not all segments of the economy. And we're gonna see the uk linked to that who's brexit which is a great thing in the us. We don't have anything quite so intricate but we do have a number of state legislations. Like the cfs in california. So it's happening but it's happening in a very bespoke hundred in seventy different types of carbon taxes throughout the world. It would be much better. If these things were synthesized federal level there are important. Things happening out of bounds. Can we start to talk about carbon removal. I don't think this is something that a lot of people are aware of or understand the technology behind if we've got one point six trillion in the atmosphere. What are the ways that we can get it out. How much do we want to get out. What are the cutting edge technologies on this front. Who are the major players here to start to lay the picture here for us on the idea of carbon removal and its potential to be a huge important thing in the world. I think i may start with the imperative that we will need carbon removal even if we go on a more accelerated pace of slowing it down and we're certainly working towards that because we've accumulated so much co two. There's a lot of essentially global warming. That's been again because the stock is having an impact on the climate. The amount that we miss going forward will change the dynamics of that but we already have so much that we're going to have to remove From the atmosphere and the sort of two main categories of carbon removal. One is in the what's called the natural carbon removal. The second is in engineered hybrid forms. Broadly speaking natural carbon removal is things like tree planting trees protecting trees so called improved forest management. Which is essentially changing your kimber farming practices relative to a baseline to increase the carbon stock and choosing soils soils have net released about one hundred thirty billion times per annum which is a huge amount of co two since the industrial age. Because we've changed. How farm and use lands. That's another big area. That can be improved over time. There's also some developing things within the marine actor kelp for example. The biomass stores attuned. When stored properly in the ocean can sink of co two. And we do a lot of work in natural carbon movil in fact. It's by far the majority of what's happening today because the engineered side is very early on the engineered form of carbon removal again. All of these are defined by being essentially old technologies direct. Air capture. For instance is a seventy year plus technology. We've known how to capture not for a long time. But the deployment of it has been very recent and very very low and the main forms of carbon removal from an engineered perspective are direct air capture which essentially takes from the nba. There separates that co two from the nba air through a variety of different processes depending on the technology provider and then it either stores co two in the ground which has to be cleaned incredibly safe process. The liquefies its stores in japan. Storage just like oil and gas has been stored in the ground for perpetuity so to to when it's liquefied and we have tons of co two storage globally. There's about twenty trillion times of available geological storage of co two throughout the world. We will never store twenty trillion times of cotr if we do The earth is in some serious challenge to there's plenty of storage available to it. Other forms of engineered types of carbon removal are things like bio-energy coupled with ccs so biomass stores the atidza. Things like tinder trees will store but when the biological process when they living organisms die the co two and release back into the atmosphere. There's technology that could convert that biomass into something useful capture. Co two of the process in half a negative process. We talked to the first of the engineering solutions. Because it's so interesting. How does it work. Is it just like giant fans. What is the technology and it begs the question. What are the incentives of the technology's been around a long time and this is an important problem but it hasn't been deployed. How might that change is a change in. Incentives is it this many to get into corporations spending some money as part of their individualized efforts to reduce their own emissions. Were reversed them through air capture. Talk us through like not so much. The separation technologies but the gathering in capturing technologies descriptions. Good they do look like a giant series of very very big very accurate with different types of essentially solvent materials. That when run presumably on geothermal. Or if you're using fossil energy because he's our energy intensive process you have to take up for that. Co two capture during the process which the companies to the was separated by those fans. There's a couple of different processes which to the probably speaking separates the co two and then compresses it so that it can be they're stored in the ground or use a variety of commercial processes one of the interesting things at the tax essentially all open source. There's been a lot of debate about their capture price points etc so about ten years ago david keith. Who is one of the pioneers in this field. Along with a few others open with technology looked like a work published and people have been innovating off that sense. The reason it hasn't scaled is you're right in a world where it's free to omit a ton of co two and you don't get charged for it or you don't have a willingness to take care of it. There's zero reason to do directly capture. None it will always be easier. Always thermodynamics are are quite clear to either catcher's not from point source from concentrated stream or to source to the ground round. It's always going to be cheaper to do those things and we'll be in the future so it's only the presence that would say of incentives. They could be voluntary. Demand from companies like microsoft have these commitments to be carbon neutral microsoft's case carbon negative. It can be a carbon tax. It be an incentive to use what people like to call a full cycle economy product so taking carbon from the atmosphere converting that co two which absolutely can be done in. A number of people might team focus on this into useful products. The petroleum fuel or things like polymers for plastic production. And this can be done. But you need to create either a government or market incentive to accelerate those markets. Talk us through the range of corporate participation around the world. You'd probably know the us best. But what does that mean for microsoft. What is big company. That's made a commitment. How did they make that commitment. What does it mean. What did they do to fulfil it. If you think about the corporation as a unit and a key player here what's happening in that world. Yeah i mean. I guess two thousand twenty was a lot of things but it was probably also the year of pledges endeavor. Day the a net zero something or another alliance nonsmo- and listen. Many of them are difficult to discern. That will be any meaning towards those things but there has been a cohort very large enterprises. That are taking mysteriously. There's not a uniform approach to how people feel with their next zero as a firm. Carbon direct is working with thirteen clients. Global they're big. The co two foot pinch of our client faces up six hundred fifty million tonnes per annum which is roughly the size of germany. It's quite a lot of cit in their different perspectives. About what to do with that microsoft has been a fantastic partner. And they've taken a very clear stance. Bill gates has a big advocate of directly capture for on time. They've taken a very clear stance that they wanna be. Not just neutral. Carbon negative since the company was formed in nineteen seventy five so what that requires is both reducing their ongoing emissions through buying renewable power other texas inability in also putting together a portfolio of carbon removal stuff and that is both growing trees. It's working with soils increase. The intensity of the soil programs and it's also looking at and purchasing from innovative engineered forms of carbon move director capture other companies have different perspectives. They're more focused on the flow on the abatement. The focused on incorporating things like low carbon steel into their supply chain. We help companies with that. There's a range of different approaches. And i would say it's going in the right direction but i think in this comes from somebody who works very extensively in the voluntary market if people are betting that these voluntary pledges are going to fix this. That is a bad bet. They're not big enough. They're not up to the scale. There needs to be a lot more. That happens if you think forward. Let's assume we solve this. And it's twenty fifty and we've reduced net zero or negative on an annual mission basis and we're actively pulling carbon out of the atmosphere. What's your best. Guess as to the major sources of making that possible thinking about natural versus engineered. Is it feasible. That i've seen some really prominently. Toby lewke comes to mind. I think he's got trees in his twitter profile. He's planted like some insane number of trees. What do you think the right balances between these types of solutions at the broadest category level of natural versus engineered. And what should we be focused on like people that are interested in this. Where do you think the bang for the buck comes from. If we're successful shop flights a fantastic example of somebody doing it. Well as a client of ours. He's done an amazing job with ways. Pushed the firm on this. I would say they in. We advocate very strongly for a portfolio approach. That's not a way of dodging the question. It's not a way of earning values on different things. It simply when you look at doing over ten gig a tons of stuff. You can't get there with any of these individual projects you just can't at least in the timeframe we are big advocates of using land trees natural resources. Well so that they are logically sound. They do no harm in. They have carbon benefits. But what people have estimated that tree-planting can do for example this trillion tree idea. That's floating around are crazy. They are not grounded in science at all. We don't have enough land. We don't have a good enough measurement a weather many of these projects are actually storing co two relative to a baseline many times. They do not. They rely on crazy counterfactual analyses which are incorrect. So we can do it within that sector. But i think you're limited to sort of the single giga time expansion when you're looking at soil. Carbon tree planting types of biological approaches. And the other thing that will emphasize is that those biological approaches are great and should be encouraged. They need to be done essentially in perpetuity. Because if you grow a tree and even if you manage it correctly that will die when a treat is is here to back into the atmosphere so whether it lasts for fifty years or twenty years you need to address that when you look at some of the short term cycles that some of these projects do yourself for nothing. Because essentially the carbons just going to be released back into the atmosphere you need more durable stored so she it and then when i look at direct air capture. One of the positives is that it is technically infinitely scalable. You can put it anywhere you have access to both storage availability and also cheap in liable renewable power and you don't want to steal that renewable power from something else so if you put a direct air capture plan in it sucks up. All the renewable power and a coal plant continues to operate. That's like naughty corbin benefit. You should be doing that. But essentially it's infinitely scalable. The problem is expensive today. The prices declining think quick quickly. But it's expensive and they take on. I'm laid plans. Take a million tiny year. Carbon engineering plan would take four years. Three and a half years to build. Were not dealing with an infinite time horizon. So i think that direct air capture can get a needs to get to the gigaton scale not in an acceptable timeframe. So we need all these. I'm gonna ask them the. I'll call the villain test. Let's just assume there is the demand side grow somehow whether by regulatory requirement national laws or whatever carbon prices. Whatever or bottom up you know. Microsoft isn't being forced to do this but they're doing it anyway. That does seem to be a legitimate wave like a bottom up demand growth in demand to solve this problem. The villain tests question is. Let's say you didn't give a damn about the earth or the atmosphere you just wanted to make as much money as possible as somebody that was fulfilment for that demand to reduce carbon in the atmosphere. If you're that villain what would you be doing right now. Kind of business. Would you be building. I think even in the villain tissue would-be fulfilling something that needs to happen because of how limited the industry is now. There's a lot that needs to be built. I mean i think early financially focus i think infrastructure around co two storage the pipeline assets storage infrastructure. Taking cit that's being captured from point source to gear capture their couple of great companies. Doing it now but not enough. I think that there is a big commercial opportunity there. I think that there will be a few parts of the circular economy that work. Well where. I can see some areas where you can do to conversion for example into carbon monoxide which is a huge market. It's one hundred billion dollar market for polymers and other things. I think there's a pathway forward where you can actually make that sort of green carbon monoxide at a cheaper price than traditional stuff. I'm very skeptical that you'll be able to take. Co two from the atmosphere and turn it into like petroleum type fuel at anything. That's competitive so. I doubt that would be a good place to be a villain anytime soon but i can see some of these areas having just a pure commercial result in. I think that that's going to expand over time through the existing to industries of. We'll call it. Fossil fuels and clean energy on the what else to call a win solar cetera. No emission energy creators. What are the major trends that you're seeing in these two spaces. Maybe we could start with fossil fuels kind of interesting that what seems to be sort of the tail end of this thing. We had aramco plans to be a publicly traded company. What's going on in the world of fossil fuels that you think is interesting. What's changed the most. The energy sector is like now a miniscule part of the stock market which is just fascinating. I remember i started my career. It was like twelve thirteen fourteen percent. Now it's like one or two percent. What do you see there in the world. Fossil fuels first and then. We'll go to sustainable or clean energy on the fossil side segregate. What's actually happening in the world that will contribute or not climate impact and then the financial assets. I mean i think while the market has done a pretty good job of divesting for you because if you just own the s and p five hundred you've miraculously divested from a significant amount of your energy portfolio. Companies have done very well. And i think that there's other areas where the financial markets have done things like increasing capital costs to the oil and gas industry. So if you look at essentially the embedded carbon tax in the market but eighty dollars hundred dollars. Time in that's basically backed out from looking at what i need to finance on across the capital basis a clean energy versus fossil. It's significantly different. That being said we still use pre covid likely in two thousand twenty one hundred barrels a day of the stuff so even if the stocks are trading at lower ps and multiples whatever the case may be world uses under million barrels a day of petroleum based things and that will be higher into dozen twenty-one than it was in two thousand nineteen. The rate of growth is definitely slowing. Taylor will be in aviation fuel for next year. Because plying i think could be structurally impaired transport demand for cars are having a marginal decline in gasoline but the level is staying pretty high but petrochem demand really good. There's gonna be a lot of infrastructure spending so. I think it's important for people to note from a climate perspective. That divestment on its own does not do anything. You've changed asset ownership from one person to another maybe indirectly there some capital cost. Change but Digress too much investment Friendliest fancy cars and he got very concerned on climate. He never drove the cars. Very expensive collection. You never drove them but he wants to be a four person so he sold all the cars to somebody else. The problem is the person who sold them to is going to drive them. If you can hear energy company and you're selling all of your cars to someone who's actually going to use them. The net zero emissions are not going down because of this. So i think we're in that part of the market phase right now and i think that's also why people will be disappointed that in the next couple of years the level of co two emissions at for having are nowhere near consistent with the paris accord. Talk about ev. A halt from the consumer perspective. So i'm increasingly of this view. That convenience is sort of everything and prices part of convenience for sure. I would put myself in the camp of if you just told me. There is an easy way for me to switch my personal consumption of energy which is called an in all ways transport home and otherwise in a relatively neutral cost setting or even pay more. I would certainly do it. And my guess is a lot of people would so talk us through. The market dynamics that consumer dynamics whatever you think is important on changes in clean energy my understanding is the cost of solar and some of these other things has come way way down how much missouri in those sorts of things. Walk us through this part. I think the first thing. I would emphasize that while there. Certainly some parts of the market will pay a premium and things like that one should assume that willingness to pay for this stuff is zero. Have a client. His a very large producer of consumer goods. They've tested all of this whether it's detergent and other types of consumer products it's zero. It's not a little bit. It's absolutely zero. You need to deliver to consumers again. Writ large something that is cost competitive or cheaper than the existing product or has substantial differentiated benefits in the when we invest capital. I always remember when these people spend billions and billions of dollars to figure out a have. We don't need to learn that lesson again. In areas like cower where it's just legitimately cheaper to use wind and solar and then where you are and again the intermittent issues. It's gonna win out. People say to win out through market forces. I think that's the wrong term. Because we need to remember all of these markets whether it's oil and gas renewable solar girls subsidize they all have some type of embedded tax subsidy positive or negative. It could be a gasoline tax penalties for driving. It could be incentive structure but just for the price consumer whether it's financed by the treasury or disability cost needs to be at or below the competition in for power. It looks really good. I think for. Evt's were five years away from life cycle ib ownership being cheaper than fossil cars but again the car stock last time and people will be driving my friend's car straight around for a period. I think those are the two broad trends one trend that i would like to pick up that unfortunately hasn't lot of the work that we do at columbia is in policy focus versus in policy and frankly in the market to really look critically at what we call. The love lies cost of carbon abatement. So what that means is whether it's a treasury making a decision or a company. What are you paying in dollars per tonne to remove a ton of co two or to avoid time co two and for some reason. We just don't do policy this way. We basically i wanted to sell a million electric vehicles at a cost. You don't look at it. At what am i. Paying per time. Voiding and i hope that we get to a point where we look at this much more critically because some of the things that have accelerated including. Evt's is good have come at significant cost per time so electric vehicles subsidies can be five hundred dollars time they're declining and that was to encourage the market. It's a good thing but we need to with a finite budget and a finite amount of time really look closely at. How subsidies are you. talk us through. The geopolitical will landscape of the world both snapshot and movie so yet the put governments in like a couple major categories. What are the major categories of of government stance towards all of this stuff as a snapshot today. And how do you think that movie plays alec. What are the rates have changed that you observe. It's a europe and canada are probably in the room today. In terms of compulsory markets so auto adjust announced a carbon tax can hundred seventy five dollars ton escalating carbon taxed. That's incredible i mean that's going to the above the price of direct air capture when it hits level i that's quite important. The eu carbon price now as thirty three euros ton give take which is really approaching where it should be. I think the price of carbon should be the price that it costs to remove in store so to give an actor market reflection but it's climbing from thirty five which is great china. Who knows just legitimately don't know the net zero announcement. I think is a good thing when the us wasn't willing to make it. I think china if they can make money things like solar innovation electric vehicles. They're going to do it. So if the rest of the world does lead a little bit in terms of pricing things. I think you'll see a significant amount of innovation on the carbon removal hugely. Skeptical of what we've seen. They've got announced number of reforestation goals. And they have a long history of this in a long history of it working corley and not delivering the carbon benefits that have been stated. Japan's made a net zero goal as well and then of course the us. I'm pretty optimistic. Actually about dozen twenty-one in matt. I think the makeup of this election between the more centrist for lack of better term part of the democratic party. And what i'm seeing is slow and not enough. But some movements from the republicans that are supportive of innovation around climate other types of things at carbon the carbon tax by other names and i think a significant uptake in orange e from the us government on climbing invasion. I forgot to ask earlier about just consequences. I mentioned that we didn't go into it. Will you think about whatever the peak awareness of whenever an inconvenient truth came out from al gore. My living memory. That was sort of like this. Wake up moment for a lot of people probably because it was an approachable presentation of what was going on. What do you think today. What have we learned since then. Good bad ugly different than what was said back. Then what your mind are the primary consequences that people should be aware of. Should we be unsuccessful in both flow and stock removal over the next hundred years or whatever. The timeframe you think is appropriate. Yeah unfortunately we didn't learn much from inconvenient truth because half of all emissions since the industrial age has happened since that documentary was released which is stunning. I think is an important document but in terms of what happened. I guess it could have been worse without it right. You don't know the counterfactual right by the way it quite likely would have been worse. So that's a good thing but we haven't learned a time. I think that when you look at the climate protests that have happened in a lot of the rhetoric from a young people. I think it's great and galvanizing action. It's not true that there's some type of binary event said if we made it another one billion tons of co two is all over. The doesn't work like that. The will be escalating impacts on things like ocean acidification and how we feed people globally obviously california with forest fires be seen in the last few years that will accelerate and move to other areas and unfortunately like most of the challenge is going to screw poor people and poor nations a lot more than wealthy nations will be to adjust where luxury condos in miami are ill and we will find a way to continue to grow. But areas with core infrastructure flooding and all sorts of things can really set a lot of progress back and it will not happen in one thing overnight coming. Frankly you saw a lot of people expected that you would see some type of climate disaster. We'd all get together in combat would fix. It is not going to be like. It's gonna be more veracity of hurricanes it's going to be more incidences like in california which on their own. There's some improvements in attribution science which can show specific events and that they're caused by climate change. Although that scientists incur faked it will remain imperfect and it will just be this trend as more severe challenge. What have we missed in terms of major players or technologies or really anything that we haven't covered yet you're focused on and you know we need to cover. The audience would be interested in regulation matters for all of the two trillion dollars in energy spending and all of the five trillion dollars of commodities spending broadway. There's been some reticence to get into the market. Although we're doing it there's some other really smart investors who are getting into the space now because well. We can't figure this out because there could be a change in regulation things if that's true for all five trillion dollars so i think the key is to understand where things are under writable today and then you have a little bit of a view on where the tailwinds are going within it but not to simply avoid a sector. I think that'd be one message the other thing. That's really important to emphasize. And i know this goes a little bit against the background in trading and running a fund trading on markets. And you can make money doing it in that's great. I think there's an idea that's a little bit coming to the fore that we disagree with that simply scaling unquote. The market will be a good thing. It won't and i'm talking specifically about the voluntary carbon market so what people are willing to pay to wash away their sins or or whether it's regulatory market you're literally paying for the right to minute. Hundred zero to we need to ground truth. The quality elements of all of the things that are solutions in the voluntary carbon markets through rigorous science. That we understand that we're actually getting a ton of carbon benefit from those. The history of these are really n very important as we go forward that there needs to be a science. I coach to hold these things. The market needs to come second third and last to what we haven't talked really about the active investing side of what you do if you split your business today. It's sort of advisory in investing advisory. I think you talked about some clients like shop. Microsoft have general sensor like helping big corporations think through their options what they should do structure strategies etcetera on the investing side. Walk us through that again. Investing tends to be at least some financial interest of course people that put money into technologies or companies. Or whatever it is that are going to be helping with this problem. How do you think through that. One of the major categories of investment. What has you most excited that. We haven't talked about one of the sorts of things that you're backing at. What scale aixing. Both our advisory business in the investing that we do is science comes first in both of those things. we've got twenty five scientists. It got a variety of expertise from natural carbon removal to engineer. And everything we do with a recommending something to a client or putting capital into it have to do rigorous analysis on it is unfortunate part of this esp landscape that there are a lot of claims that could be made by companies looking for many. That technology is unproven endure. It does not actually provide the carbon benefit. So we'd be real rigorous analysis. I'm both the visor. Side of the investment side works the science behind it solid and sound and then when we look to deploy money in. This doesn't make changes over time. We're firmly in this growth equity part of the investing cycle. And by that. I mean we don't do venture there are some good venture investors out there on the space but i need my team to be able to look at something in a real world scenario. It's been cited. We can test it get real data. Matt company has a customer or customers so that we're not the one in saying yes this works. It's a great idea. There's some type of commercial validation even if the revenue numbers are low. There's something there for our strategy which may not be for all you know. We invest in the capital light part of the business. There are essentially a dozen or so very important you can think of is like the intel inside for carbon industry. Companies that are technology focused that integrate with larger projects to reduce eliminator. Use the c o two could be a point source capture company where a client like lafarge would pay for the point source to remove the to for the regulatory or use case reasons that may change over time in part of the reason. We have the advisory businesses as demand increases for the market. There will be more project financing type capital. That's going to be needed into the industry because you have a little bit of a more direct revenue strain but for now. We're finding sweet spot. In these technology growth equity rounds were new. This would be a just an awesome masterclass on all things. Carbon reduction and removal. When i met you most of this stuff i had no clue about. So i'm sure people will be really interested to hear. Just first of all the scope of it is staggering. I mean the number of different trillion dollar numbers that you can throw out there that we need to change staggering. So i i so appreciate the time today. I think you know my traditional closing question for everybody which is to ask for the kindest thing that anyone's ever done for you. I have to say my my wife will you know and we met in the uk. And i was here in new york. Say we live in new york now. So i i agree with in his emma blige to point that out i love it i love it. Simple simple drew will john. Thanks so much for the time today. Really appreciate the top here and for ut everyone else's while if you enjoyed this episode check out join colossus dot com there. You'll find every episode of this podcast completely transcripts show notes and resources to keep learning. You can also sign up for our newsletter colossus weekly where we condense episodes to the big ideas quotations and more as well as the best content we find on the internet every week
Monitor Show 02:00 02-16-2021 02:00
"Food is out there. I'm unwrapping mcdonnell steak egg and cheese bagel. Look this steak and juice running down the side. Go little bit on rapper. Here and then a fluffy egg and cheese folded oversaw. Just so good Grilled onions on a bagel. Two thumbs off. Madonna steak egg and cheese bagel for breakfast. Love it more. Baba bob participating. Mcdonald's the last lockdown boris johnson urges caution to avoid return to virus restrictions as. He plans the way out from the current curbs breaking barriers. The wto pig zits first african and first woman leader and the greek prime minister tells bloomberg there should be no more delays in the eu vaccine. Rollout i'm leon. Guarantees with world news on the global equity rally extends. Bhp earnings boost expectations for a new commodity super cycle glencore results to come. That's all straight ahead on bloomberg daybreak europe on da digital radio. London bloomberg eleven three. Oh new york bloomberg ninety nine one washington. Dc bloomberg one zero six one boston bloomberg nine sixty san francisco sirus. Xm channel one nineteen at around the world on bloombergradio dot com and five the bloomberg business at a very good morning from london. I'm rachi hearing and you're listening to daybreak. You're live on london. Da digital radio now a lot of interest here. of course. boris. Johnson is going to be doing next week.
Episode 73: The two wolves expanded
"Wants happening in the canine industry for all the latest news views and expert opinions stay right here for the canine paradigm. You'll hear from industry leaders experts doyennes of the industry learned colleagues movers and shakers and the odd. Randy guest. Get the latest insights and expert advice from both here and abroad from the people in the know now here your hosts Glenn cook and Pat steward, and I'm lofty Fulton, and I'm outta here. Hey, it's been awhile since we talked about her all my Jason feminine has he paid his Bill. He has paid his bills. Okay. So we should record a minuet. Surely, he has a website now, not he does not. Maybe he's provided a direct phone number people can notice her I'll just shake knife. Either. I like the way that you'll actually pretending to look whether he has. So if you want to get him contacted Dacian, you still have to do that through Facebook on's week dough quip E, I N Z W A C K Jason can hook you up with all the things you might be interested in getting the fly pull mills which a lot of people getting in loving. He has home Springer products if you're into those. Yep. He has bulls laces tugs. Yup. And at the moment, he has a ten percent discount on. Okay. Non USA products. That's pretty cool. And I believe he's got a lot of the other stuff that you can use to compete NJIT as well. Such as the sleds and these bring polls. Yeah. That's correct showed us while it's taking the world by storm. Yeah. So for into that or you just like trying new dog having a good time have a chat to Jason on Facebook at on's wick dog quick. Yep. Sent him inventory volume. Mason Jaren guy. Getaway website. Jason your bozo. Welcome back to the canine paradigm. I'm your host Glencore. And once again joined in studio is my non regulate host. But always welcome guest video shady. Hello. Mrs thirty shady. It's MRs isn't it? Yes, married. You married lovely Dane love, my husband, and the reason why can be here because he helps me so much wonderful, man. He is so Hello TCP family. Hello. How I grew. How are you? Well, thank you cut still away. So well the pets away Glenn the birdie will play. Really real. I'm gonna still. Because they would have sensitive. That's not funny because pet psycho Venise it's opposite of me. He gives me the look on track. Like you to not so good. So yeah. How have you been good confusing? Very well had a beautiful lunch. Well, way good considering we had one together. So this is a good follow on from last week conversation. We were talking about the concept of how to say no implemented into your life, more assertively. So you've got another great topic, which you were talking about with major in the wake. And I thought would be another cracker for the show. What's the headline? The headline is the tools within us a love that story itself. It's one of many of the old stories all sort of fables that have passed on from generation generation. It's one of the main actually say Pennells Pennells. Yeah. It didn't Pennells the sleeping. Boy. I didn't not subtitled sub taught penalties. Leaping boy. And the reason why we call him that he's a good boy when he's asleep. He knows that Penn is a very spiritual young fellow. He's got a website or Facebook page called living light, and he often post very spiritual very meaningful quotes and maims inside fourth very old head very spiritual hate on very young shoulders, very well, scented guy. Galore respect for him, a lovely music. Very cool. Dude of Saint him set before many people set before again, it's like one of those old Indian fables that the wise elder tells the grandson I'm gonna read it out to strike for. Yeah. Mantis explain via this topic and up my mind, of course. So last time we put a poll up and disadvantages topic one. But also what people wanted to hear Murray's about coping styles. Like, what do you do in life pushes you? What do you do in life is uncomfortable? And it was a little bit associated with, you know, entitlement. But didn't wanna talk about entitlement? Because we already didn't episode about entitlement. So I thought I'm going to look at all the coping strategies simplistic way because it's podcast in our. It's not unique to but I hope that people say that it's okay to have unhelpful coping styles as long as you wear new trying to work away from them. But also that you're wear of because day a lot of things look innocent. But to actually not in a said in a lot of things, they don't kinison. So I think it's a topic that I always found interesting as a student because it really helped me become more mindful about my own copy styles. Good. I applaud that. And I think that having been cold on my own bullshit in the past things that I thought were innocent comments, which were probably not as they were pointed out to me. And I think we can sometimes have. An opinion on something like, you can say something having opinion on it or even a feeling around it. But it's not the I guess. It comes down to perception of what how it makes people feel and there's another quite that. I really like that says people might forget what you did. But they'll never forget how you made them feel. Yes, that's very important. But it also is really important, and I hope that St. outcome of this podcast people understand by the do certain things because we very often psychology talk about the behaviour. I spoke so on top on the surface of water. You see the top of the iceberg, and that's the behavior, but the water UC and fulfilled needs. He see how they were brought up then vitamin, Debbie. Lee death thoughts day martians and all of that leads to behavior, but it's really complex wide is behavior shows up, and once we understand to too big paycheck type approach it gives people inside usually. And I'm trying to bring that down on trying to explain it a little bit better today. But may I stop reading out the story. So that we all know about what story talking about, of course place. It's a fantastic. One. Okay. So I tried to research to author of destroy and I haven't found months apology stead named OSA and also different versions of the story. So this is just a worship at I've picked, and it's said around a campfire, and it's an old Cherokee sitting with his grand Sam around a campfire and he wants to teach Scranton about life. That's the setting of the story and to grant debts Este, son. A fight is going on inside me. It's a terrible fight than it is between wolves one is evil. He's Anga envy. Sar regret creed arrogance self-pity. Guilt. Resentment inferiority lies foles pride so priority and eager and a grant continued. He said, you know, the atom one. He's good. He's joy pace. Love hope. Serenity humility kindness, benevolence empathy, generosity, truth, compassion, and faith. And grant says to the same fight is going on inside you and every other person to we all have these tools and grant on thought about it from minute in any asks his grandfather, well, which will win the good old even one and a common. Ending to the story is that the old Turkey granted says well, the one you feed, but that's not the ending. I have ROY. So I found a different ending. I want to hear that one. Because that's that's the ending that I not yet. That's very common one. But apparently true Cherokee ending to falling one. And I'd I'd knife. That's true. So sorry fi misunderstand by that's just what I found and he says. In the jerky will destroy like this the all turkeys simply replies to questions if you feed them, right? They both win. So you need to be both bills to black into Whiteman. Good evil one. And he explains you see if only choose to feed divide wolf, the black one will be hiding around every corner biting for me to become distracted a week and Trump to get the attention. He craves he will always be angry and always fighting wolf. But if I had knowledge him, he's happy Nevada wolf is happy, and we all win for the black wolf has many qualities to Nessie, courage, fearlessness strong, willed and great strategic thinking that I have need of it at times. And that's what wolf what lex Anita black full sometimes. But you know, the move has compassion is caring his strength and with Hester -bility to recognize what is in the best interest of all of us. And he says you see son divide wolf needs to blackfoot at his side to feed only one wolf would stuff to Atta. And they will become uncontrollable to feed and care for both mean stable surf you will and do nothing that is not part of something greater something. Good something for life feed them, both and devil. Be normal internal struggle for your attention and Mendez is now a battle inside. You can listen to the voices of deep annoying that will guide intruding what is right in every circumstance peace. My son is two Cherokee mission in life. A man or woman who has peace inside has everything. A man of a woman who is pulled a pop at a war inside them has nothing how you choose to interact with opposing forces within you for determine your life staff. One oughta will guide them both. That's the end. Is the best ending to that? I've heard do you like it? I like it because it elaborates further on it. It doesn't just leave the story inconclusive. So the other one although it sort of concludes it's still a little bit inconclusive. Another bit of an oxymoron, but the reality is is it finalizes it way somebody wanted it to be on lies. But that takes it further and gives it a better explanation and at somewhat explains how the Chinese referred to the whole model of yin and Yang exactly what it's referring to its line this balance. And and I think therapist very often wanted people really can excess vice part in because in the end, you need to know, what wise decision you have to make life, and we also nine psychology and science tells us ignoring something and you never works. Like, he just doesn't like if you think sample have a really strong repetitive thought in your mind, and you try to ignore it will become stronger and stronger and stronger. So they has to be accepted to actually be able to live with it. So so SCI really tells us to ignore it or to avoid it does not work. So I think it's a really vise advice to give us and I thought I'm going to talk a little bit. What nowadays science says about how to excess despise part in us because there is no recipe to tell a person is what you have to do to have to really best life. I've never come across a person that can leave to same as I do. Or don't think that's possible? I think that you internally. No and feel what's right? Some people find that difficult. Neighbor disconnected from that way, that book loss connections was very accessible to different thoughts of what people possibly need when they feeling disconnected from things, but I find that. Although we do things as a group sometimes sometimes we do them for the wrong reasons like we do them because we wanna play Kate are the people rethink. The right thing to do to achieve popularity or to achieve connection with people. Whereas in fact, it can make them maybe doesn't make them feel as as happy as what you think it does. But it certainly might not make you feel happy which is from conversations of pain having with you lightly been experiencing that sort of thing with myself with. Trying to crab place. Sometimes just because somebody like something you don't have to like it as well. And if the crowd that you're with done accept that. Maybe it's a wrong crowd few. Yeah. Maybe it's a mature crowded. So k they can accept that. That's right. And I think he comes back to that behavior is that we only see the behavior, but we don't at a forces behind that. I spoke to mortem of that is back, and that's what we going to discuss a little bit because just touching it by that behavior is really it's how we do things. And that's the kind of like having met life, but it's complex so much more to it. And I think these days also such a lack of privacy in our last because everything is online, and it's really difficult to kinda like half that in a pace is to really excess is wise pod enough have time a time at the United. We always accessible the after read a study where we documented people average one hundred fifty times a day on the phone. So there's not much down. Time anymore makes really hot to listen to yourself and truly ni-. What what actually do you need not what you want because what you need what you wanted something to different things. So you and I were born in a generation where we went tied to social media like social media came along. It wasn't in the life that we grew up in that, you are instantly handed a fine to entertain you. And then realized hell social media works and developed popularity through that there was another good. It was a main that I saw I like names names alive. I saw a main on social media finally enough the other day that said when telephones will wide we were free predominantly what that says is that when I was a child we didn't have connections like this like this was science fiction thinking about having a foreign in your in your pocket that you could face time people. It was all science fiction. We were running around the streets. We were exercising all the time. You're at writing by like that was your into time e parents didn't know where you were. They weren't constantly tracking. And monitoring everything you were doing like if you're at with your friends, nobody knew where you were in less. You actually rang home or told you parents where bat you would you weren't. Constrained by what we ought tonight. Like today, you very acceptable, and you can be found easy. And if you if you like something or check in some way, then people no way you are. They know that you not home. They know that you're in a location. They know who you're with even for example. I know we I'm reading on a bit. But my mom was speaking to me other day, and she said, I've you saying peaches of nephew because my name's had a baby not long ago. Thank you hear beautiful little boy Archer. He's name is. And I said I'll same all the time. I'm watching him grow up through social media. I haven't met him personally because he's Melvin haven't been there for wall. But I've seen him of Saint videos of EMA I've seen I almost see him every day. So I said to mom, I'm not missing out on saying what he's doing. I haven't met him. I know him, but I know him like if you go back thirty years ago that was impossible. You would just not have that connection less. You actually mitt them. This would be a first time meeting and sighting of a baby or. A toddler for the very first time. So yeah, the world changed. It has an I don't wanna pay pace. I should be totally because I met my husband on the internet. And he's one of the greatest things that ever has happened to me like thousand open petunias as well. It's the same as the story you're telling about the two wolves. It's an exactly that same context because it can be absolutely fantastic or it can be fail. Yes. And one of the reasons the reason why aborted up is because what we see nowadays people during have much privacy day don't have much time to really come down or be bored. Or what just have an introspective moment. Unite like normally before a lot of people in my generation say auditory little shower I have downtime. I can think I can be creative. But now he always we can choose to be in contact with things and a lot of businesses run on Facebook. Log in my business runs on Facebook. So it's interesting how we managed at. But what I'm wanting to do? Now is wanna tell people what devise mine look. It's like what if feels like what you should aim for. Because that is what you sensually have to try to get in contact with. Because a lot of our action. Stay feel good. I might feel like that's the right thing. But it's actually not the wise part of you. It's just a part of you. So go ahead. Tell us what the wise mind does. So devise mind to me I was excited like it is like an adult and a child and have to separate roles. So it encompasses bias. And a healthy adult pot of vice mind it performs like adult functions, you know, such as obtaining information evaluating problem solving working parenting. And it takes a lot of responsibility for choices and actions, and it makes keeps commitment. So it's being held accountable, and it's really balanced because it puts us TVs to likely to be fulfilling in work, but also in intimate and social relationships in sport in cultural service related activities. So it's not just work in fun. So there's a lot of how are you? With your social relationships intimate relationships to you contribute to culture or sports. It's quite a really relevant to kind of concept, and it's it represents a little bit more rational side of us and with that comes to childlike pot. And it's called the happy child very often. A happy child is more on emotional kinda part and a happy child feel. Is it pays in Viessmann? Then you coy my needs are really met, and it feels loft its contents feels connected satisfied. It's fulfilled. Feels protected priced worthwhile nurtured and the stored validated confident feel safe resilient strong is adaptable spontaneous optimistic. So it's quite how you feel. It's cutting in the moment kinda observation and many married them together. That's when you get device nsaids disbalance between what's rational, like what's activity based also with how you feel does it make sense. So it's like a family. So one pot is quite how you feel Netti pot is what do you have to do to have a good life, and what what areas of your life, should you pay attention to and it's society at the moment is quite selective makes us accessible person. Like usually around work. It's around status. It's about money wealth. But not many not many times being judged as a person how good are your friend. How good are you as an artist or how much do you contribute to that? It's quite selected at the moment. But a true vice looks at all these areas, and it's interesting, so you can have I really fulfilled Kerry, but all the other areas in your life quite poll and idea behind the vice monies that everything's imbalance. So be very often Ryan psychology that people need to have a life Bill on a couple of pillars pillars things that give our live strength and resilience and stability. And he's pills. I usually relationships leisure-time sprayed Trollope work values like he needed to have more than one pill. If you say, I'm a great friend. But you can't hold a job that doesn't work too. If you say, I'm gonna amazing entrepreneur, but you not a good friend. That's doesn't also work. So it's also bad having balance balance in. Atta areas and most of us for usually have a tendency to focus on certain areas, but not all of them and advise mind is dead to God, you really because you need to fulfil you values. And that's in regards to how you emotionally rationally the said did I explain myself? Do you have any questions listening to you talk? It's profound hell we often in dog training, especially the network, and the group of people that I'm involved in we're constantly seeking I guess, credibility and recognition for balanced being balanced people who understand and preach in practice balance. So the story that you've originated from from the two wolves, and especially the alternate ending that you you read it before I guess that made a lot to me because I feel that that's what we try to say to people is that the two go hand in hand they have to they have to they need to. And this is what's frustrating. When we listen to. To crowds. And we being shouted down by people who are saying that do these because it's not ethical or it's cruel or it's inconsiderate to the feelings of the dog. It doesn't make any sense to me. And it never really did. Because I kind of look hell Nitra mimics education and nature by definition with education is it's always concerned with the fact of finding equilibrium. Yes. I'm health bringing things back to balance even though when I really spoke about the whole concept of being positive I and people saying it's not really it's still balance. I still do differently. Believe in balance. I believe in equilibrium. I believe that when things balanced you find hominy, it might not bring everyone hominy because some people even though most would agree that balance feels good some people like to the skyline little in their five or something some people quite a lot of people do, but as your pointing at very I think is. A lot of people that when they do get everything they want do they really have everything they need and wanted that time, then sometimes they find disatisfaction in getting that they still feel a whole inside them. I can give you an example lease. So I was a time in my life where I would have been looked at super successful. You know, making good money. Having a lot of status symbols. Like, I would have take boxes. Right. So from a web perspective, which I adore like, I'm a love working working for me is a very fulfilling role a love it. I get a lot of Choi out of it. But if you would've asked my husband, he's like, well, yeah, you really doing really great. You're very tired. And you come harm like you usually need to weekend to prepare for your work week. You've done really have to energy to too much beside work. And I realize I've collected all the areas of my life. So I put all my energy into one bucket. So it wasn't balanced. I probably will always be a person that enjoys working. So I always will favor that bucket. But I have to learn to keep an eye on the back. It's I think it's also pesonality thing like some people need just a little bit of a tip in and some people need cut strong input. Like, I I think everyone needs to understand Aren balance. So this you need to become really good at night. You're what do you need? But I need an you need a different things. That's the thing right. Is and fundamentally this is why books like manna from Mars and women from Venus were written. Because even though we're still human beings. We still fundamentally different in the way, we think and even within our own sexes. We still think about things differently. I think different too narrow. We do all different. And that's that's the beauty of being individual is that the fact is that we all have things that are important to us that may not be remotely important to anybody else. And that could be your job your personal life. Your religion, your hobbies, anything it could be anything and also dogs have different needs. Like, for example. Luna has a very different to Randy. Yes. Like dogs Olsen. I think you need to have advanced on at every dog has a different balance. Dr satisfaction. Yes. And I think what what I would like to talk about. Now is that we as an individual half to know what our unhelpful coping Rini to know what our black full saw because you, and I might have different Blackwell's. Right. Like oh, goodness. May what's a black hole? What do you break wolf? These at a black hole. I was gonna say when did you say my God. That's not I'm about. Black. Okay, Blackwell sorry. Yeah. Your black wolf in my blog full are very different. And we, but you need to know what your black wolf looks like an I need to know what my black wolf looks like, and that's actually really difficult because sometimes it's Cray. Sometimes you can have a lot of benefits from having the black wolf in your life. And you need to know how you manage it in. How you if it bound re's black wolf changes in as you mature it does. And that's one of the thing though fan is my black war young man was quite a considerable opponent back. Then compared to who it is now. Yes, I'm changed a lot. I think people from high school would be surprised to I right now we've talked about this. I'm sure you, and I and Pat of talked about these probably over bees or even as we've. Digest the things in the podcast before. But I believe that as you grow older, a really think it's a ten year thing with your Brian that you Brian really every decade, your different person signed, but different as the Thai people say, you still you, but you different, and I feel that considerably myself like things that I've I think I've ever span of a decade when I look back this things that a different to you like when your child the things that are important to you. And things that matter are not the things that matter to you as a teenager, and the things that Medici was attained I don't matter to you when you twenty and when you things that you're thinking about new twenty they might matter to you. But the different when you thirty and so on and so on me, but something sometimes also it doesn't go away. And that's so as in therapy, very often that you can change a lot. But if a core on emotional need hasn't been met that will fall leave your life. That's interesting. So and this is I think. How we gonna make it a bit nerdy right now. So I believe in that because it's something that we deal with aggression therapy as well with dogs. So if you have two black full in your life, and you want to understand what you black wolf looks like we have to talk about. Well, how do you get a black wolf? How does it become part of your life? Right. And that then we have say okay to black full stands for an helpful coping mechanisms it usually comes down to unmet emotional core needs so needs that you haven't had live hasn't met union life and day up there really really important in really fundamental non-negotiable doesn't if you look at a mammal Annette human. We all have Koi, my shnell needs. And they can really if they are not being met that can have huge detrimental effect to you L being psychologically physiologically and with that following you. Well, and truly thank you. Let's see stay that way. That's good everything you're saying is making perfect sense. And I think so sometimes spend these needs have been met. It can follow you throughout your life. They maybe show up in a different way. And you may be mature in a way. But I can if unaddressed I can really have a life trip for you like, you know, that can follow you through. And I was looking and mnay prepared this podcast was like model. I'm going to talk about because as Simon soup interesting, but why do complex podcast, so I looked into it. And I wanna talk about small because in the end e will realize why because it's very you will understand because we use it a love for dogs. And when we talk about this model, we need to focus on the needs. And we need to identify define what the needs are. And I picked model at pigs to needs because coy Marshall needs Uttam build up any psychological bell fail wellbeing will person to health and to to Nate's that I want to focus on the actus Paul's like on opposite dimensions north and south. Yes, exactly. And the first one is called attachment orientation that has to do with connection relatedness. And if they're not Matt if attachments, not met, then you feel lonely. Isolated and socially rejected. So tach man is one poll very important. Yup. The Atta one is assertively orientation that is been new talk about atonomy competence being in control and Hugh cont. Inverse if so you can't have them both at the same time, the more you had to its service, the less, your touch, Mable below doesn't make sense. So the more you look for a relationship and being connected with someone the more you will give up in tournament. Comp competent control assertiveness will go down. So we need to understand at one of them is really relationship, focus and the other one is really autonomy focused. Okay, and have really really really important because they had a basis for how we going to react when we on the pressure in life, and this is kind of like the framework for it. And we can see that in dogs to like, you know, for example, if you have a puppy that has poor attachment to to mom because the mom died pappy stag on a half problems. But when you have other thing also gonna have problems, right? So it doesn't matter if you human mammals stack equal. Yup. Okay. So let's talk about what qualities would it be? If he would be on the part of attachment like if he would be one hundred percent living on attachment poll that basically correlates to connection, and that means you talking about acceptance affection appreciation belonging corporation during respect safety security stability support feeling left insane. And listen to being understood so all the really important healthy relationship Khanna things. And if you then would hop onto the Atta Paul into that if nece outcome set of orientation poll, it would be all about Joyce freedom independence space being spontaneous. Also, very important because that's how you live your life. That's also certif- nece is also in that part, and because ten an inverse relationship to you have to be really aware that you balanced him. Because if you too much favoring one side you'll opposite. Yeah. And you will tip and sometimes behead into direction of Paul let feels scoop, but maybe he's in good for us. So it's really important that we have to win that we have to keep them imbalance and defining thing is that our body actually has built in alarm system. So we our nervous system in our mind in our brains via to tell us when that doesn't work well ahead identify with that what's the sign. Well, tell signs that's what I'm trying to say. Anxiety sadness anger frustration disgust Corey motions. Tell us is. And that's you know, it is talking about new Han, Harry. This is five need to listen to them. This is why it's so important that we numb these emotions because they are a messenger of information. But I was assigned. He doesn't help us hype with them. We haven't learned how to cope with because it's tabu, and it's very often not handy. It's not practical. It's not a fishing. But that's why if you numb all those come on comfortable in martians, you'll also comfortable once because all of a sudden alarm system won't work. So it's really important that we learned to not associated discomfort, emotions or something bad. It's just a message very important. Are you familiar with the phrase listening with the intent to reply? Yes. But that's unhelpful. It is in the in the aspect of what you were talking because you were talking about loosening within yourself think people Asari Priore. I applied that they've lost the ability to listen, full, stop, even when the having a conversation with somebody not listening to what this person says the not connecting with the person. They're hearing words coming out of their mouth, but they generating what their response to what they want to say what they feel is important to the conversation. And this is something that I found has had to type practice with myself as well when I'm at meetings with people enough got a point on one of Mike is not to saying everything that I think is important, but listening to the group that I'm with because that's important as well. You know, what they've got to say is also important. But I know we're talking about the internalisation of listening to yourself and listening to those signs of of distress that your body is trying to say there are things going wrong. Hey, pal, you need to pull up stumps, and I stopped paying attention because some critical alarm bells go off. So if you become a good listener, you're taking a move to its detachment Paul, which is really important society in a meeting in company. Yep. But also. Within like as you talking about it. You know, it's it's not enough to say, listen externally. But it's also listen internally. I mean all practices of meditation, and spirituality like monks. For example. They always talk about listen to your body body is the temple trying to talk to you. If you shut up for long enough to let it he in nature, and he within this why like conversations with you and people like panels because although people might feel how this is getting a bit spiritual. It's not it's actually if you want to improve aspects of your life, these simple steps that you can do to stop making some enormous headway fixing some big problems. Sorry true. Because a big enemy going to talk about that. In a second spend you react to things to not feel things. But most you have to learn to listen. And this thing is a process. It's a skill. And I think you're not the only one that has to learn how to listen I had to learn how to listen, everyone does everyone and to this day. I still have dice shady listener. Yeah. So I think it's just really important that we start accepting. Hey, if I feel uncomfortable. It's okay. Curious about it United be aware of it darn react just to sit and try to see what's to message. Maybe they isn't a message sometime say he's not message. But sometimes as in this. That's good. That point the just might day is. And that's one of the things that I have to address in situations where I'm feeling distress about something is what's the lesson here? What have I learned from this rather than feeling so insulted also wounded by it I mean, which is going to happen anyway. But after you sort of get yourself together and get you should on the control is sometimes you need to sit there and say, what did I learn from this? What's the takeaway message from this? And I found that rather than being so aggravated and reactive to things often. If I can actually look what could I have done better in that situation in that dealing that relationship? Whatever went wrong at the time. That's also behnd somewhat beneficial to getting over it and leaving it behind its growth mindset. Yeah. With that mindset. You don't triggered it at you being stack. Hoods helpless, you'd go like, no, I can take control of it in a good way. Like in an affective proactive kind of way. But it's also I think what's billion trusting to know. He's also debt. It's okay. Okay. To be uncomfortable in life life designed to be sometimes on comfortable. That's just part of it. So become good at being uncomfortable. Don't go like all something bad has happened. Just because uncomfortable. It's just how it is sometimes or just something you have to pay attention to and with this alarm system that we have to tell hey, something's not going. Now. It's really interesting how we react to this. And this is how the black wolf not hold the black. Like food comes in because be develop unhelpful or sometimes called Mela dept. If styles, and we are uncomfortable. And I was like last night. I'm not only I'm not happy with the puck has because to the theory that was going to talk about his way too difficult like it's too complex. So I went to back to original literature, and I came across a really good animal model from cannon that was developed in nineteen fifteen and you will know it, maybe not Mr. Kenan who was American and he was a physiologist at the department of physiology. Harvard Medical School intrigue. Now, I don't know if I know this on now, you will like I think most people would like I nine. And he wrote a book in nineteen fifteen and the book was called buddy Lee changes in pain hung AFI in writes, an account of recent research is into the function of emotional excitement, and Mr. cannon classified how we to uncomfortable martians, and he classified into four categories. And this is why you will know it he classified them into fight flight freeze and follow. We often talk about dogs and their fight fight fight yet. So what I thought it was interesting that he has a follow pot. Yes. I've heard with Oxford part of the discussion, but it has been touted now. And then yes. So I've heard I think handsomeness talked about flooding. Yes. I'm gonna talk about them to to have to finish. Instead. So these types of carpet Mertz are categories how we react when something is uncomfortable. So the first one is fight. So if we engage in these coping styles our alarm system comes down. And for instance, if you engage in fight it is a chance to win and become top dog Bacall this assertiveness way to gain autonomy control, dominance respect. So you under real the poll on the other side flight data one is an active escape in the human model. This means that we look for voidance and engage in self soothing activities. That's how humans would do it. Then you have phrase phrase is passively restoring emotionally detaching numbing or dissociating. And in the last part, which I haven't heard much discussed is to follow pot. And that means if your apartment appears to be really strong like the person that may be caused to be uncomfortable. You really want to be part of his groups allow them to make you feel small because you feel that you wanna have how many residents in the loving connection. So you surrender to them. You kinda like ignore your own to this is two opposite of being said if. And it's really difficult that sometimes we do things without knowing why we do we don't night at. Hey, I'm actually being triggered in fight. I'm being triggered in flied in phrase or in the follow state. And it's important that you know, what you doing what the motivation behind it is because otherwise you might lose to balance because a good life a life with by tolliday and flexibilities a balanced life. So sometimes find since I'm stressed. I probably would go into flight marred. I like self soothing activities. I like to not feel I like to myself that could be that maybe eat too much pizza. What a binge watch. Netflix episode of that. I get lost in books at just like that feeling of not having to deal with you can just forget about things. Yes. But that doesn't mean that this helps serves me because if I look at my values, it might be, hey, maybe need to change something maybe need to look at you feel this while cost is emotional pain of your core needs not being met. Because that's what it comes down to also John Lennon's concept of that as well that time that you spent enjoying something wasn't time wasted. It's all in moderation. I agree with that too. It's moderation. I think it it becomes a problem. If it's too much, you know, like if you go like, I need to be what was this on balanced, isn't it? Yeah. That's it. And that's the exact concept that we've been hedging on the whole time is way we're talking about the problem with being unbalanced. Yes. With falling out of at of finding out. Why you corey's and being so lift or ride a field that tipping the scales? Too far. It's an uncontrolled cascade. After that it is. And I think that's five we have to have a win as about it in curiosity. By doing certain things and. It's quite interesting threatening motions have a certain tendency to engage in certain on helpful coping Matz. So for instance, anger, usually drives us to fight disgust is not having many people say arm disgusted by this. But discuss is one of two basic, emotions, and it very often causes flight. When we filling said, we might withdraw. That's freeze. Maybe fearful it pulls of more into a submissive side, which would be the follow surrendering side. And it's really interesting how we gonna balance in how acknowledged one of my needs hasn't been met. And I think because these temps acquired abstract of thought about hey, what practical examples of these short so fight. Okay. So something in yourself. One of your core needs hasn't been met to you. Engage you fight mode, and it usually comes up as a self aggrandizing behavior. So that you feel superior special powerful, and you can act in quite entitled competitive for granted sway and some people would see world top dogs and underdogs and little compassion for the people, and it might be quite extreme Mike to appoint rights, quite aggressive and use written intimidation. And the interesting thing is. The trigger. Today's can be a trigger from way back. So you could have some making really angry and you go into fight mode. But the original trigger was way way way way back, but it's just linked to that. So very instance. When I got my dog. Luna head to advocate for space because she was human dog aggressive. But I haven't learn how to be a said if two strangers who do not approve of me. So that something is a kid. I did not learn how to advocate for my needs properly with strange people always be nice to everyone be always kind of a trick. Yes. So if I may was really difficult to tell a pass. And now we need space, please go away. And I got so angry because I couldn't do it that I probably became a little bit too aggressive, and that's what I meant in ages ago in a podcast. I nearly became entitled because I'm like, how dare you? Walk your dog on the same straight at me and said to people I need spice probably was more loud and a needed to be oh, please attached. And these peoples were these people are not dead to make my Dame Israel. They were just walking. So it's quite interesting triggers that fight respond. Oh, let's talk about the flight respond. This is exciting related. This is people search actively to be avoided. So for instance, you don't wanna feel negative emotions return 'em down, you engage in activities, or you take substances will suf- you that will stimulate you distract you. And these activities can be really pleasurable exciting. So for instance, watching video games playing games. What TV work being recor Hollick like working really hard is one of those self soothing behaviors immersing yourself into things to forget about. Yep. Excessive exercise internet addiction, compulsions, computer games or excessive daydreaming like getting really lost chronic masturbation. Sure. Sexual addictions. Sure, porn porn would be one that sanding funny about it is actually a lot of problems. With people who overly addicted to porn on my God. It's such a difficult topic. Because you better we start on this topic. It's something that's not replicable real life, very often to fantasy that gives especially young men gives them a lot of young women too young men that gives them unreasonable ideas, and what love and connection and relationships are all about it is highly addictive because he can have it just have to press a button, and you can find what to in. It's almost like a blast of cocaine, isn't it? Yeah. I don't know. I think. If you had spray dopamine. I used to play winnow the younger guys to play this guy. Cole world of warcraft. And I was very addicted to it lucky. I think disgusted he before. But it was like in a complete addiction so much. I were just consumed. My entire day. Wake ends were spent playing it like soon as up on straightaway. You know, connecting with people that tell was connecting and finding approval was level up. And you get your character to such a level and need speak the people that you've never met all around the world. It was very very intriguing but also very rewarding in the end. I realized I am sitting in a chair getting enormous stacking white on because all you do is sit there and binge eight because you sitting in one spot completely immersed. You're like is IQ Brian everything and the rides the temper I felt when you know like. If you try to do something it wasn't working or somebody was interrupting you in real life in the end. I thought I'm not actually doing things I used to enjoy. I'm not getting out and walking around spending time with my dogs. I'm doing anything so actually delayed it like it was it was very sudden. But I deleted it off my computer, and I snap the disk and I'll throw it away. And I never went back to it. And it was it was hard. It's very hot. I felt like I 'cause I I pretty much sacked everyone like it was pretty much like moving to another country never saying family again. That's kinda how felt at the time. Because I said like everyone was shocked when I say a guy everyone all my gear, you know, everything I collected and spent much time doing spicy gli handed that everybody, and I would just like what are you doing? Now. I said I'm going back to life. You know, like I'm going back to the real world to spend time they and they'll befuddled. Wow. That could happen. And that's. Sorry. Good on new because that's difficult. It was terrible at the time. I gotta tell you. It was actually terrible time. I felt so betrayed people that I've met and enjoyed spending having long conversations with and everything, but I just had to stop talking to them because I thought if I start talking to them again, I'll go out and buy the game. I'll put it back in and I'll be back in there again. Yes. And so I just had to had to delete them and forget them, and it was awful. I mean, I think I was actually quite emotional about the time. It was terrible. It was absolutely terrible. But I needed to do it. I understand how people get stuck into that same track with addiction. It was probably the only thing ever really been addicted to a life. I think it's it's also so interesting that we always nervy undo something if it has a payoff every behavior has to have a payoff. Yup. And I think we did games, especially the ones that. Yeah. In community a highly addictive because not only I visually really immersed in something that appeals to your brain. Check. It also is you have a connection that without a papal but clever people Bain designing him because there's a lot of reward along the white trapped in two type. Well, that's it. It's people who invented slot machines and gambling in Las Vegas. The people that they employ to make kids addicted to these guys like they deliberately addict you to it. Yeah. You know, you do something you get a reward. But then you looking at into the distance what you are as a novice compared to what you could be like if you put a little elbow grease into what you can achieve these magical powers, and you can be this powerful figure within the realm of the game. And you might not be anybody significant might feel that way you are. But you might not feel that way in life. But in this game, you can be different like, you can be a superhero. And I think that's what people we earn full. They want to be more than who they are mascot person question. He can shut up. So sometimes when I had clients like that I wonder that computer game makes you feel really seen being heard. You can do something really good. What do you feel like was you a need that hasn't been met that you feel so attracted to being? So I missed radio games. I could be anyone else. But me, but was hopping you didn't like who. I was when I was growing up. Okay. I had a very difficult stepfather. Any squash me a lot as a kid? And I also had a very overbearing grandmother who did the same. So I got hit from both thins got physically abused from a stepfather. And I got psychologically abused by grandma. You must have been fool with difficult emotions. Fucked. It was really it was a really it was a bad time. Don't get me wrong. I don't want to completely demonize them because I've got a site in both people. My stepfather was we'd guy like he was a very very strange man in a lot of ways. And I know that there was a side of him that he loved me, but he was problematic man because he wasn't traded wills a kid any pass that on any took a lot of it. Adam may. Well, look, I am too. I'm sorry it happened. But I think when you look at that concept of what doesn't kill you makes you stronger sometimes you enjoy a hardship. But it can actually it can destroy. You can define you very glad it didn't destroy it did for a little bit. I think that's it's like the silly phrase that one avail prime minister's poking. He wants that can drink a lot. Now that twelve hawk one of our former prime ministers, pork, aiding said, it was a recession. We had to have when he talked about us going into financial recession. And although it's a silly Coleman often think about it in my I lot because when I had depression, it was the depression. I had to have it was the collapse that was inevitable. And I'm kinda glad that happened win at Dayton. And how it did. Because it could have been a lot worse if it was prolonged, and it sort of gained momentum. But yeah, I kind of needed to have it Cape talking about hopping on about but. The reality is is that I'm a lucky person that I had a very short entanglement with what I had because I know people who have fought it intensely over such a long period of their life. And they're still in a position where they just don't enjoy the fact that they Weiqing up everyday to tackle another day. And I feel great sorry for people that I know who have to deal with that kind of thing because I wish for them like it feel better about way, they are. But just cannot and you know, yourself birdie, this is your professional career something that you'll very immersed in. And you know, meta hell, you tell people just do this just do that to get better. That's not the help that that person needs. It just does not work. It is not helpful in any way, shape or form. I think you know, the longer you on this field to more United the relationship is to healing pad. And yes, you can help paper with strategies, but in the end, it is that I feel that to have a relationship that. Did learn again, what is to have a relationship therapist is essentially dead to role model relationship. It's it's it's created for Latian tip because it has found reasons professional, but in the end, it's that you to knowledge NEC, you talk about the means that you give him space to talk about the needs that you help them getting them met. And I think this is really important because if I if you talk about management of depression, very often think about thoughts, but I saw much more to it know, I much more to it. And you really have to understand sometimes studies while the person's, but sometimes it's not what they need. And I think he knew case, it's it's very I I really want say copy mechanism set. Maybe what what I've just called unhelpful debt always born out of a need of survival. They have very good at the beginning that always did at people can March on this is what the body does to survive. So we have to give him credit to have time in. A place in life like. Maybe you need a dead video gaming dead time in your life just to make half time to digest it a move on. I think so. Yeah, I think it was just it was a necessary destruction. Yes. It was letting my mind think about other things that I needed to do. I mean, always telling you in the car, and I'm gonna throw myself under Abbassi. But when I was a younger guy too. I spent a lot of time to heal day at the time. It was it felt amazing. I'm not saying go ahead and do that that's going to change your life and everything that like, I'm exposing a little bit my soul here. But the reality is it, and I really enjoyed it at the time. It gave me the escapism that I needed, but I'm not endorsing Eliza drug-taking or anything that I'm not being irresponsible. I'm just saying that I doubled in it. And I don't do it anymore. But I did it, and I really felt that it gave me a little correction. I'm just saying for me some people it hasn't. It's done terrible things to them. But for me, I don't. I know why. But it seemed to let me internalize and laws. It was like tetris. It's we'd saying is, but it was like tetris same like shapes were falling into place that was so unbalanced at one stage. But I could say things more clearly in that state because I was in sort of like a flux of hominy at that stage where I was disheveled in the real world the real world. Like, I said to you. I was trying to Skype who I was. And I think that's why became successful the dog trying to because it helped me be a different person. Again. I'm kind of a person knows what it likes to wave many different faces. You know, like be a different person in many different fields. And I did that over long period of time trying to discover who I really was and being happy with who. I am. And I'm finally finding pace about that going back to your podcast. We did last week when we talked about the no concept that was a fucking difficult thing for me to say neither PayPal. And when my colleague told me that story about ESPN ES BNR that was a terrifying concept when I was younger because I thought if I say, no to people I might be popular around them. I won't be happy complete person because they won't like me. And I want to be popular and that. You know, I need connections with people as much as most people do, but I need connections with the right people not with people that I'm on looking to just satisfy their Nate all the time. I need to find satisfaction in that and other people they defined the core value the thing that makes them feel at as gives them pace in their life helps them sleep better at night. I guess that's what I'm trying to say. And that's what I was working towards trying to correct myself is is not trying to be a crowd plays for the wrong reasons. But I'm more these days, I to people this is who I am if you'd like me, that's wonderful. And if you don't like me walk in I do about it, hopefully that will change in time. But if it doesn't it wasn't meant to be whereas before it was super important to try and make everybody like me. But. That's not reality. That's and that's that's exactly like, I think a lot of people have a report positive experiences spend, they take Lissa drugs, but the difficulties how do you make it work in real life? How'd you get those types of emotions in real life because it's an avoidance, essentially. And that's I think, you know, if anyone they this podcast if you feel like why I noticed that? I'm doing some of the things there is no shame in reaching out. There is no shame in getting some professional help huge topics that difficult topics. Look this way like going to say someone like you is like somebody who goes to Jim. I know so many people even dive my boss credible guy when he feels great stress he goes to the gym guys. If he him therapy. And he feels so good when he does it end for may now jujitsu, I'm actually finding that dealing with a bad day guy to the match is a good thing on perplex. Why didn't do it earlier? It's actually really soothing to go out and do some exercise and spend time with people where there's no ego. There's no need for somebody to be the best in the room. It's just being better than the day. You were before slowly incrementally. Edging your way forward into learning a skill. It's really nice when you're there and people saying well done, man. That's so good doing better. You can feel that you getting stronger in your technical, you, you know, like I struggled to get away from it today. Whereas last week, it was a little easier, and you can just say that you making gradual approach, but not only you, but the other people e with when you saying other people newer and they're coming up as well. And you can work with them. It's a role gratitude for everybody, and it feels nice. Be a part of something where everybody is working on helping each other. And it's nice growth within it's important to have your own singular growth, but it's also important for growth overall too. And especially people that you're around the new care about is. But makes life good isn't equity. Right. That's that's wonderful. Yes. And yet just if anyone listens as no shame in reaching out. I don't think. So I think it's it. It is better for you to consider sorry. My my point before I started talking about you was. Some people go to the gym. But to excise there, they muscles, and they body one consider the same thing, mind, domain, your mind is effectively muscle that needs to be exercised as well. And you heart and soul. Yeah. Absolutely. And say, I mean, these parkas are never to tell you what to do just did to create curiosity. But I think it's important that we understand reduce it and things like the reason I was once when I'm first time of depression. I was really dictate to the internet which was a new thing back, then because internet was a new thing. But I I couldn't I didn't study to spend hours and hours on the internet. And it was so soothing like, I could escape everything could escape my problems to pine I was feeling and it gave me time to figure out how to tackle them. And I was lucky that it didn't get lost in it. Because there's always this race that you get lost in these strategies, and that you have a lot of negative consequences from it ask you the same question can mirror. The question that you asked me, why did you want to do that? I was really unhappy. I was in my life. Like, I think there was just so much discrepancy in what I needed and what was reality. And that was not because anyone did that on purpose. It's just my mom was really really sick. You know? And and I think that is just. It's just hot venue Tina to sometimes figuring out. What do I need in? How do I get met and for me to internet provider debt because that just could I love download music. I love getting lost in in you know, videoclips, and and I love talking to people from all over the world and just to escape because always knew I wanted to move away. So it's it's again that you know, something's not right? But you don't as I did not know what to do and back then I didn't. I don't think that was even a psychologist now area. Like, I knew I wanted to study psychology by not knowing how to reach out to get that service. And I was also a lot of shame around that. Because in us today is a lot of we we have an Austria does I call it too. So psychiatrists day were involved in horrible things, you know, horrible horrible things associated with concentration camps like, you know. Selection of race. Or you know, like, we had horrible things happening out countries that is a huge fear around this. And and I remember also saying as being sinful too, right? Probably. Yeah. Probably. I'm sorry. Video member my grandmother in the early days talking about how we could was to go and speak to psychologists because they involved in daily shoulder practices could be I definitely knew that. I felt very shamed. Found a huge failure. And I remember when my first UP said to me is she thinks have to pressure walked out of two room and just cry because I thought that STAN of the world what's the point? And is paddle. When you depressed, you think that way, but it's also the cultural like back, then cultural stigma around that was huge. So so I ride escaped what to do actually felt relief when I got told had depression because I actually knew what was wrong. I didn't I afford it. I gave my very hot. Wrong. I wasn't happy. But I was happy that I knew what was wrong because for a long time. It didn't know what was wrong. I knew something was wrong. But knowing what was wrong was relief. I'm glad that you had that. I hope that I can make people feel that way. Because I does nothing shameful around is topic. But that's Cal to conversation wrong. It is culture culture. And and you know, I was racing. Very very religious an environment. Yeah. Very strict very very strict almost militant bay punitive. Yes. Yeah. And I think that. Again, we still my favorite Thais aying same same but different from the same cloth. We have a lot of similar, but I think many heat when you listen to ask me talk about this phrase might detaching detach protector. Ask yourself why? Because he don't know why. Then you might keep doing it. And you miss an opportunity to change things because you need to look at what need hasn't been met of. What's what do you need to change? I understand that. This may be scary at the beginning overwhelming, always uncomfortable. But in the long run it will pay off. Well, it is. I may not be totally honest is sometimes where I don't really like talking about some of my vulnerabilities shade some today, and some people might be surprised to hear that and think. Oh, wow. And now, the people might think, oh, you what's normal as I say in in life. One person's trash is another person's treasure. Terry days are not mind, and you know, this is going to submission when you when you surrender, and you have no assertiveness Nietzsche's, give into everything just out of fear that you miss out that you not acknowledged that, you know, part of the group, and it's really also important that we acknowledged venue freeze, for instance, and you really touch you really numb inside. And you can't do anything that you look at that. Why are you so bored by user number is does nothing happening? You what you protect yourself from? So it's a carping murder very often as well. And I think the challenges that I just wanted cards people. You know, if you've been at bravery workshop, you will note, a model very much the of awareness model with the wardrobe is that when you have something that triggers, you you stop you pay attention you stat to regulate the martians in your body. Not reactive kind of I just observing kinda why? And you have a win. And then you done that may maybe used to drop your anchor, stretchy, Otake deep breath. Oh, whatever you do to regulate yourself that you bring over and stood what actually happened. Am I reacting to this person right in front of me? Or does it remind me of something that happened a long time ago because that's like a chain-reaction very often. And I think that's really important to our. Let's pretty cool. It is. And I have people become curious about by Doucet and things like do. I after really long week fire. My so needing to do sit and things that I know not good for me or that. I know bring me away from values or things that would give me a more meaningful life with by Taliban. What scares me what why can I implement different things or gifts that something? It's not so easy because sometimes when you're dealing with that being comfortably numb and lost in thought, sometimes you not actually focused on that or thinking of it. And I guess sometimes the only time that you make into thinking about it is when a close and valued friend might bring it to your attention. I was just going to say that you need to then to have a good enough session moment that they cannot chew and in a caring way innovate at you can accept it in that unite come from a good place. And this is why again, I know it is. Is probably whatever what people here forever is community so important, but you need to be invested in community. You can't expect it you have community. But you're not doing anything for the community. It has to be given a Tyke, and that's the balance in itself again and things can change it might be part of a community that nego like, oh, I'm going to change communities. That's okay, too. But it's important that we don't just always focus on but advertisement and social media tells us women like, you know. The comedian Russell brand and he was talking about he struggled with these on life. And then he was saying, you know, but then I kind of feel bad because I start thinking about how other people have got it worse. And then I go onto think about all, you know, the children in Africa who are dying and thinking could be worse than playing at the levels. I guess one point. I'm pretty sure, hey, boarded up, and it's something that I've thought about anyways. Yes, that's true. There are other things that have been horrendous that have happened to people. But sometimes people who brain brought up in those environments and cultures even though they know that it's terrible. And it could be worse. They've still grown up in that environment. Where it's relative to who you are just because you you might be living in a first world country. You might be in some ways privileged, you might have everything stacked in your favor. But it still is relative to you when the shit hits the fan, and that's like the thing way people bird and a lot of guilty as they constantly not everybody. But people look at Woodley and say, look, I haven't got it so bad. It could be worse. I could be this person that could this could be happening. You know, could have one of my legs in awful, something like that. Well, that's all true. But the reality is when you feel like she still feel like she that was a struggle for me. Because when I was. Feeling mentally incapable at times there were times where I was trying to justify that it could be worse. I could be one of these other people, but I still was struggling with my own shit and people who are feeling terrible struggle with their own shit. I've even spoken to people here. Indy. Tiff students who've been brave enough to share this story with me at times they still struggling with their own shit. And it's relative to them. It's the struggle. It's the story then I feel so guilty about that they feel bad. You know, this is happening to them at somebody might have it worse to sound like a broken record. It's still relative. And it doesn't matter. If you if you feel like someone has it west east deal need to attend to earn variance still need to to listen to you define in like medication for emotional pain, exists and medication. I'm not talking about tablets right now. I'm talking about. I self cannabis self care for emotional pain is slow down breathing. Knowledge what stay not how he wanted to be like really acknowledged what state and in the United in psychology behalf, basic emotions dead core martians, and then we have socially motions, emotions come up after we thought about it. I price cognitive emotions and try to see if you can get past a post cognitive emotions because price cognitive emotions callup by what you grew up with society. Judgment mentos like out outside input really go like, what's what's to Koi fees? It said MRs Angaz disgust is jealous. Sees it. Happiness, and many can reached our things even if they don't make sense to you try to go like, well, what it say anything does it speak up is to reason what it would say. And then you listen you to sit with it. And sometimes I tell people you can just visualize. If you really hurts like some people would get a constricted chest, or they feel a lot of pain on like just realized at sunshine is touching. Sounds really reads hearing on a podcast, but it helps us e every week. And it's basically acknowledging the need that you have that core basic emotional need that we all have an if you learn to knowledge them inside even if you can't fix the past. But you learn to knowledge it should give you relief. I totally agree. And that's how you to sum. It up is how you would strengthen the white wolf if you come back to the black and white wolf we've just tied. It all back in the magic that we do on the on paranoid. Toy things backing and segue into stories of grandeur of somebody else's poss, and all of a sudden, bam here, we are again, this is how you strengthen Uvira move. Yes. Is you need to? But you need to will accept the black full fixate. So you get to know your Blackwill better get to well when is it showing up? Why is it showing up what triggered it? How do you manage it? What does it Nate you need to skill opposite? Areas is your we'll find the nourished as a a pimp like do you need to appeal pimp out to do you need to invest something? How can you strengthen like you need to start understand? What is helping is unhelpful in your life? Helpful things are usually around values flexibility vitality in the long run because sometimes unhelpful things trust for good in a moment. But it's about long Javadi of things. That's what I would encourage you to do any donor. How please reach out in our don't do it by yourself. That's the strong message. Is that if you feel unbalanced, and if you feel that you can't bring it back? There's no shame enriching at somebody, and seeking assistance in gardens with somebody a main having a mental having having somebody have or having a confident that you can speak privately to and safely to. I think it's one of the most liberating feelings that you can have is when you've can feel safe and in a non judgmental environment that you can be with somebody. And you know, whatever you say to them is within the confines of that spice. I think that is one of the most magnificent things that that ever happened. There's no judgment. There is no regret about saying it somebody who even though they paid to sit there and listen to they want to listen to you as well. And they want to go away and think about it incrementally. Help you find that balance again and bring it back to that Cole balance and does not shaming in getting profession. A person of because stay outside of your friendships or day day. A deaf would to do that for you. And that's where that non judgmental environment comes from it. And it somebody who has training in understand that as well, which I've found very Femy again. A again, I'm speaking on my behalf. I didn't like it at the stop thirty. When I did it somebody it was very unpleasant. And I felt agitated and violated when I I did it. The guy was asked me to sit down, and I was pacing around the room like a line that just pain cord, and he said the fight mode. Yeah. Was big time. And he was very us almost like a hippy guy that went to say you head pray abates on sandals. And you know, he's room smell the Fien saints and had all Buddha characters around these lovely guy always pacing around like I set down at the start. And I'm glad at him. And I thought no I'm not going to submit to this. And I say what was it? What do you know, what need he was? Because it sounds like you. You worried about giving up your Tana me, and your your house gauge, she was skid. Yeah. Always terrified. I didn't wanna be exposed. And that was the main thing that I was afraid of is that if I if I give up this who am I created a character that was gonna be out of the deal and cope with it? And if I gave that up who was and how was I going to leave in the world that I was going to be up spiking while the people who've enjoyed that same sort of thing. But I didn't know what was going through at the moment. Like, I said I was pacing around odds rated Terry's head off. I thought of you say one wrong thing to me on after you like I'm going to. I didn't want him to hurt me. That's what to do. I didn't want him to make me everything. I thought he was completely the opposite. I started just asking him general questions about his craft. He's tried being a psychologist, and he said white means talking about other things that, you know, lucky used trickery, not really kidding. He's calmed Amina helped me to allow. How my self to let my God down. And then once I felt safe. And I realized that I wasn't it wasn't what I thought it was it was just like attep turned on full blast and everything started coming out. And it was almost like I was saying things I was trying to catch them on the way out. But it was good. It felt I think spending an hour with him felt like a run for ten hours because I felt exhausted. When I actually member laving for the first time, I set in the car, I thought I just can't drive. I just need to roll the seat back and have a snooze because I was absolutely fucked drain. It was incredibly draining. But it was it was so liberating to get that off my chest. In like, I thought I can't believe that. I'd taken on that burden and held it like a bowl in China that I actually painted like jewelry and kept it with me and felt that it had grown into one of my limbs walls in it was something that I could have unhinged. But I just needed someone to show me. Me how to do it. That was the benefit of it. Now. I'm so grateful so happy for that. Because that's the nice. That's a really good outcome. Very hotter and one because that's how price says that's difficult process. It is. And it's it's hopefully end to relate this back into dogs because this is really even are we're talking about the human aspect of it in dog training. This is not indifferent than the stress people go through the door, especially when people come and talk to me about aggression. They suffering a mentally. And especially the dog is bitten someone killed another dog or animal something like that. This is where I have to think back to my sation and be patient and non judgmental and allow them to understand that. I'm there to help them there as a service provider for them on their to attack them or judge them on there to try and work them through very difficult situation, which has become very personal and very problematic for them and try, and reconstruct some sort of sensibility about what's happened and see we can avoid the thing that they fearing Morris which is putting the dog to sleep at it's tough thing. And I think that's right. I think a doctrine is not a dog traits into space is relationship counselor at a level. Yes. Certainly at a level. I mean, that's that's a definitely taught that you own in time. And it's like the same thing with your job. I mean, you had to be very learned in skilled and and practice and apprentice on the people to learn to become sufficient enough to sit on your own and do it. It with autonomy. And it's the same with a lot of dog trainers. And this is again, it's it's a problem in your industry where there are people. Who is so unskilled who are giving out very very important advice. And it's the same thing with a dog training industry where there are people who are very unskilled giving out very important advice, which is very poured voice because it's it's like collagen Kane and that is very dangerous. That's a very significant impact that well, meaning people, and I know they well-meaning people they would PayPal. But the very inexperienced to be out offer that advice and that help because they just haven't been at long enough and that Todd to know win it's hard to know when is the right time. And sometimes you're thrown into that. And you have to deal with it like you'd be thrown into the deep end in your job, and you career and your he at you've got to do this. Now, certainly when you work for businesses, they'll say to you. Okay. You're ready to go. Let's guy, and you might not be ready to go, and you sort of learn on your fate. You know, it's a it's the. The school hard knocks really thrown into it. We don't get that slow immersion into it. And that's that's a problem and self. I think that's on a on a macro level is a black might wolf even inaugurations in. You can you can always look for is at like, it's micro macro levels everywhere. I mean, you can find that example in most things you do. Yeah. I do. Well, I think we really went down the rabbit hole today that was probably one of the deepest ones. I've done, and you are a jet masto making Phil Saif talking about things hopefully, people appreciated that conversation. I enjoyed it. It actually felt like a therapy session for me birdie. It wasn't there. Wasn't by. No wasn't. There was no expectation or design around it has being therapy station. But it just it's like sitting down and talking to you. Is there a purely because you're good listener? Anyway, this is a friend, regardless of your professional career, just as as somebody in general, you've you're genuinely caring person, and I can say how you are because you get very fatigued life in general because you just as a friend you'll you take on a lot of things as well. I did. But you know, I still have to get to know my black vote sometimes. But you know, I'm getting there. Let's just destroy learner sometimes, but I love being here because I think I'd talking about open Tissot again, I wanna be a good friend. I want people to get real message about what things can be. I don't wanna give to ideas. So Lucia the whole time. And I think it's also really cool when they can keep people that adorn low captured like yourself to go like, hey, this is how it is. If you find yourself in the same situation. That's okay. I think it's a wonderful thing. Sometimes when he come through the other side of things like these the experience that you have developed yourself and again awful that concept. What doesn't kill you makes you stronger, and the other reality point is is possible on, you know, allow yourself to be somebody that people can come and talk to about it. These Bain Tom's way staff. Talk to me privately about things friends of talk to me privately things colleagues in the industry. Talk to me privately about things on. Therapist ident- profess to be therapist, but I can be any people. Sometimes I can also point them in the right direction and give them relative experience 'existence, and I think that's four communities very tribal in the way, we all sometimes. And I think that tribes did well when they head elders and people who sat down and listen to people in the tribe, you know, like the wise people in the tribe. The wise old men and women would sit down and listen to the the younger generation, and they felt like they had therapy in the group and sometimes just by being an ear and being a kind person and giving people some time to talk to you and trying to say is by making that time by giving that time to people it can be just the time that they needed to unwind something that's pain troubling them for wall or help them to find the right path the path. It's the the incorrect way. All correct something. Incorrect. Anyway, I'm rabbiting on now side. It's probably a good time to wind up the podcast. I can't think thank you so much for having me again. Absolutely pleasure thirty. Thank you very much. Really? Appreciate you making the time to come in fairly well pets off gallivanting around in the US. I'm sure he has this stunning time icon my to hear stories, and he's you know, his podcast in the future. And I hope that we see Tillerson, get always you're always welcome on the show. And I'm sure that there's going to be hopefully, there's a topic that you'd love to come back and talk about if there is please let us know. We'd love to have you back on the show as always thanks very well that for another episode of the canine paradigm, if you like what you heard please like, right and shea and remember if you want to support the show you can do that on patron for little as three dollars a day three dollars a day. Three dollars a month. Even veta- you can help support the show if you want extra content. We've got different teas ten dollars or twenty dollars the different. Teas get you. Obviously excess two different levels and. Ability but other than that. Thank you once again to L special gaze Bertie and co host of the show for the loss two weeks. Video shady in a next step aside pet will be back, and he'll be out of tell us about what's been going on today. I'm going to tell myself to turn the music on Glenn put the fucking musical.
All Eyes On Tesla Battery Day
"A qualcomm we believe in staying connected and you can see us wherever five G. is helping transform telemedicine supporting remote education empowering Mobile PC's the invention ages here learn more at qualcomm dot com slash invention age welcome to seeking. Alpha. Stocks to watch Wall Street breakfasts weekend edition our news teams weekend preview of upcoming IPO's earnings reports, conference presentations, investor days FDA decisions. Barron's mentions and other key events that could impact stocks to set you up for the week in the markets. Subscribe to this podcast on apple podcast Google podcasts spotify stitcher. Good Morning today is Sunday September twentieth and I'm your host Greenish Bill we begin with a breakdown of the week ahead from seeking news team Tesla takes top billing this week with its highly anticipated Battery Day event having the potential to charge up animal spirits and the market. Again, the earnings calendar futures high fliers like Nike and Costco while Apple will be on the radar as it launches its first online store in India and Nicola who talk about later in the PODCAST, we'll be looking for a calmer week. On the macro seen federal. Reserve Chairman Jerome Powell and Treasury. Secretary. Steven. MNUCHIN testify before Congress twice. In earnings news autozone Aurora cannabis stitch fix a Nike Report on September Twenty Second General Mills Cintas report on the twenty-third Darden restaurants. Jabil. Tarmac and KOSCO report on September twenty fourth. In IPO news IPO prices are expected for Corsair Gaming Good Rx River North Flexible Income Fund amas eight of the Bunch of course air may generate the most interest with the gaming sector heating up the California based provider of gaming gear and content is aiming to sell up to two hundred fifty, two, million worth of shares to value the company at up to one point six five. billion. Also keep an eye on tele- bio next week with thirty four percent of its outstanding float being freed up through the expiration of an IPO lock-up period across the Pacific in Hong Kong secondary share offerings are expected to start trading for Express Ziya lab and Bow Zun while Softbank aims to hand over shares between September twenty third and twenty fifth for secondary offering of its telecom business. News, the Jessica Thomas Bravo deal is expected to close on September twenty first in her working shareholders vote on the H. H Global Buyout on the twenty fourth aluminum deal to cancer discovery startup grail for more than eight billion could be officially announced anheuser-busch. We'll be size up after landing DOJ clearance to acquire craft brew alliance. Tesla holds its annual shareholder meeting on September. Twenty second to be immediately followed by the highly anticipated battery event expectations are that Tesla will reveal plans to ramp up battery capacity, showoff improved cell chemistry, performance, and highlight how the cost curve could spiral downward wedbush securities expects a home run from Elon Musk and gang as their analyst. Ives wrote, we believe the company is getting closer to announcing the million mile battery at this highly anticipated event. In our opinion, this battery technology will be very advanced potentially last for decades withstand all types of weather and terrain and be another major milestone for the tesla ecosystem. Panasonic will be an edge to see if tesla tips off to become battery independent over time other stocks to watch around the event include the usual. Suspects like Neo Auto X. Paying and candy technologies there's also glencore to keep tabs on just in case Tesla pulls out a wild card with its cobalt plans strap in for some fun. Nike also reporting earnings this week and expectations are high heading into the F Q earnings report with China, business expected to show strong growth an ECOMMERCE continuing to support sales in the US over the last few weeks retailers like Dick's sporting goods, footlocker and habits. Sports have been spinning out positive updates on sales. Analysts expect Nike to report revenue of nine billion and EPS forty six cents Nike Trades just off its fifty two week high of just under one twenty-fifty. SPACEX IS S starship rocket will take place sometime next week with plans to sort a sixty thousand feet and then return to earth in a controlled landing. The launch will mark. The first time three raptor engines will be tested together as a single unit. SPACEX is tracking toward a final version of starship that will feature six raptors and be capable of carrying up to one hundred people to the Moon Mars and other distant destinations. While SPACEX is not a publicly traded stock the company's high profile launches have helped raise interest into space related names like Max Technologies, Virgin Galactic, and the procure space ETF which trades under ufo. Northern Gas will off a one for ten reverse split on September twenty. First shareholders authorized the company's board to effect the reverse stock split with ninety five percent of the shares that voted approving the move at the August seventeenth special meeting. The reverse stock split will reduce the number of northerns issued and outstanding shares from around four hundred and thirty six point four, million to about forty three, point six, million. This week in barons mentions the stocks and themes drawing attention and Barron's weekly addition. The shift by consumers to digital payments from cash during the pandemic is seen benefitting a long list of companies into the future digital pure plays like paypal and square are seen as long term winners as well as card network payment processors like MasterCard and visa global payments and fidelity. National Information Services Albertsons profiled favorably as an undervalued sleeper and videos deal for arm holdings is broken down in detail if all goes well, Navidi is seen becoming the most important chip maker in the world. And this week we end as always with our. Focus this week we cover Nicola and its response to the HINDENBURG research report? Simple investment ideas, authors the Article Nicola closed the week at thirty, four and nineteen. Simple investment ideas begins here. Nicola is either on track to be one of the greatest green energy stories of this generation or one of the most over hyped companies in modern times given everything that has transpired over the past few weeks. The latter appears to be the more likely scenario. In fact, a cola has now been accused of outright fraud by several credible organizations most notably Hindenburg research into miracle research recently released a highly critical report of Nicolas's business causing Nicola. Stock to crash while it should be noted that Hindenburg research is Short Nicola the company's report does legitimately raise any red flags. Nicolas's long-awaited response to the report is largely inadequate and arguably puts an even worse light on the company. Nicola notably admitted that the Nicole one prototype in its Nicola one electric semi truck in Motion Promotional. Video was rolling downhill. Nicola defends itself by saying that the company never stated it's truck was driving under its own. Propulsion, in the video and that the truck was never described as under its own propulsion or powertrain driven, one could be forgiven for believing that the truck was driving under its own propulsion. Especially considering the fact that Nicola referred to the truck as a one thousand horsepower semi-truck. What's more? The company also stated that the Nicola one was fully functional in December Twenty Sixteen, which clearly conflicts with what we know. Now, the Nicola one prototype was. In fact not fully functional in December twenty sixteen nor was a functional in the promotional video that was released a little over a year. Later, the promotional video response to buckle was just one of many glaring issues found Nicolas's overall response to Hindenburg Nicola also had a similarly week defense to its converter controversy. However, what is most notable about Nicole? His response was the fact that the company did not actually respond to most of HINDENBURG researches questions. Many continue to justify Nicolas's market cap of around thirteen billion by stating that the company is reminiscent of Early Stage Tessa like an early stage. Tesla Nicola is a clean energy transportation committee that is far too overvalued when using traditional valuation metrics unfortunately for Nicola. That's about where the similarities Tesla, and by the time tussle was valued anywhere near Nicole is current levels. The company had already produced critically acclaimed cars like the Model S. in contrast Nicola has yet to deliver a single vehicle in fact, there is now growing. Skepticism surrounding they're supposedly breakthrough technologies simple investment ideas continues here. Nicola is now reportedly under the scrutiny of the US Department of Justice as a result of the short seller accusations facing the company. This new development came shortly after it was revealed that the was reportedly probing Nicola as a result of the fraud allegations while nothing may ultimately come these investigations, it will almost certainly do incredible damage to Nicolas's reputation. This will not only hurt the company's brand image, but could also hurt the company's ability to raise money moving forward. Overall seeking Alpha authors skew bearish on Akola with one bullish to neutral three, bearish and five very bearish that includes this week sox to watch. Thanks so much for listening for the best investment analysis and news on the web. Go to seeking Alpha DOT COM subscribe to this podcast on apple podcast Google podcast spotify stitcher. You can sign up for other podcasts Alpha traitor. Let's talk ETF's the cannabis investing podcast an essay for f.a.s.t on those platforms as well. Have a great week.
HSBC to axe 35,000 jobs as profits plunge
"Thirty-five thousand jobs are on the chopping block. At Europe's biggest bank live from London the marketplace morning report from the BBC World Service. I'm Victoria Craig. Good morning in a major restructuring. Hsbc said it will reduce global headcount by fifteen percent over the next three years. The announcement came as the bank which operates in fifty countries around. The world also unveiled a thirty three percent drop in quarterly profit. The BBC's Andrew Walker has more HSBC still made a profit last year of six billion dollars but that was half what made in two thousand eighteen and the chief executive no Quinn said. Some parts of the business would not delivering acceptable returns. Cutting cost is a central part of his strategy to improve the bank's financial performance. The aim is a reduction of four and a half billion dollars a year in. Hsbc's outgoings was also a warning about the possible impact on the business of the corona virus which has emerged in China. Almost half the bank's revenue comes from its operations in Asia. I'm the BBC's Andrew Walker for marketplace HSBC shares are plunging more than six percent after that announcement shares of apple are also down more than three percent in premarket trade on Wall Street. That's after the tech giant warned revenue. We'll take a hit from supply chain disruption due to the corona virus outbreak. That's also putting pressure on shares of the company's European suppliers in Asia benchmarks which closed down more than one percent. German business sentiment has also been hit by worries about how the virus will impact global trade. A key gauge of the mood among investors plunged from twenty six point seven to just eight point seven in January and shares of commodity giant Glencore. Were down more than three percent today. The company reported its first annual loss in five years. Thanks in part to a drop in coal consumption to Singapore where the government announced it set aside more than four billion dollars to help businesses and households deal with the impact of the corona virus outbreak. On an already slowing economy. The Island city has reported some of the highest case numbers outside China the BBC's Katie. Silver explains where the government's money will go about. Six hundred million is going to a dedicated specific healthcare package specifically to fight this current virus outbreak and beyond that we sing about a billion dollars being pledged to be spent on household care and support package and the wrist. The lion share is going to companies themselves with seeing things like cash flows. Companies being a tax rebates. The government's also offered to pay about eight percent of most Singaporean. Employees wages about two million employees will have eight percent of their wages paid for by the government so that businesses don't lay them off sort of quiet period that we're having and also extra support being pledged for the industries most affected such as tourism aviation retail and food. Singapore has already been dealing with slowing growth in fact yesterday the Ministry of trade downgraded it's expected. Gdp forecast to between negative point five percent and one point five percent. How big of a further impact is the government expecting from this virus? We'll there's a lot of fear around that things are quiet here than usual and productivity is definitely going to be lower at the moment because many people are working from home so as you say there's talk that it could even hit recessionary levels but they're hopeful analysts are predicting that hopefully they may have these pandemic somewhat under control by the end of Q. One and that we may see things that have pick up again after that. What's the mood like there? In Singapore how worried are businesses and consumers? I'd say quite worried Victoria. I mean the streets are lot more quiet. Everybody'S WEARING MOSQUES. Lots of hand sanitizer everywhere people doing temperature checks. The main tourism origin is people from China and they're currently not allowed to into the country. So we're seeing visitor arrivals down. Hotel occupancy is down and for small city state is already being seventy-seven cases here. We're also seeing for example. The office culture many people working from harm people doing split day says some people coming in the morning. Some people coming in the afternoon as destination usually for conferences tourism. We're not seeing the same numbers that you'd normally say here at Victoria. The Singapore government. I'm sure hoping this package helps. Alleviate that economic stream the BBC's Katie silver in Singapore. Thank you thanks Victoria. Rising incomes meant Chinese tourists made one hundred fifty million overseas trips in two thousand nineteen. But what a difference a year makes those vacations plunged seventy three percent over lunar new year this year due to travel restrictions in the wake of the corona virus outbreak that is having a big impact on tourist attractions around the UK as the BBC's Darshan David reports from Oxford. It's easy to see why this is one of the most popular destinations for Chinese visitors over four hundred thousand eight from China Cuba. Uk last year. That number has dropped shopping this year. One Company which offers walking tours told us it typically has fifty Chinese customers per week. Now it doesn't have any fish on. Queen led Oklahoma go at nearby Blenheim Palace. Demand from visitors for the Mandarin. Audio Guide has fallen. The baroque birthplace of Winston. Churchill was a big draw for Chinese visitors until the restrictions hit dominic hair is chief executive. We expect to cross February to lose about five thousand Chinese visit so that would be about ten percents of our natural announcements also made in Mandarin on the train village. The Discount Shopping Centre popular with Chinese visitors keen to avoid high import taxes on luxuries. Back home. But it's emptier than usual with some retailers confiding. Sales are suffering as they ought to at the nearby. It shot to global fame. Five years ago it was then that the Chinese president visited to Toast so-called golden friendship. David Cameron it's run by Chris and Anita Paul. We used to visitors. Who want to sit at the same bar as their leader with a plate of fish and chips and they take away the selfish. And it's just so that I suppose they can go back home and say we've done it. We've been there in recent weeks. It's been Chinese tourists the toll. It's costly blow. Tourism earns the UK over ten billion pounds per year supporting over two million jobs as the human coastal this virus rises so too does the financial penalty. That's the BBC. Is David reporting there from Oxford and in London? I'm Victoria Craig with the marketplace morning report from the BBC World Service.
The rent is too darn high in China, too
"This. Marketplace podcast is brought to you by the university of Florida Warrington college of business transform your future with an MBA from one of America's top ten universities. Learn more at Warrington dot ufl dot EDU slash NBA and by brother Inc fest -ment tank printers. It's happened to all of us right before an important presentation. The printer runs out of ink brother investment vestment tank printers. Help put a stop to this. And can literally change the way you Inc. Your choice of up to one or two years of ink included in box helps eliminate the expense and hassle of frequently buying and replacing in cartridges. Learn more at change the way you Inc dot com. Keeping tabs on the US economy amid a trade war. I'm David Brancaccio in New York, President Trump is possibly signaling some wiggle room for the impending deadline for a U S China trade agreement or tariffs on Chinese goods sharply rise March I is not the president said yesterday, a magical date with U S China trade talks set to resume tomorrow in Washington editorial in a Chinese government newspaper warned of a catastrophe for stock markets, higher tariffs and counter tariffs are enacted tomorrow. We'll get a rich menu of economic data, including orders for durable goods like to say that data will be fresh. But some of it will be a bit stale having been delayed by the federal government shutdown. Let's check in today with Karen Kavanagh market strategist at voyeur investment management had some delays because of the Washington shut down. But the data overall is still continuing to affirm the narrative that the US economy is is doing pretty good and investors are starting to respond. To that that global growth is a concern. But here in the US things have been going pretty well. I mean retail sales nut so good as we wrapped up last year. But we also saw that homebuilders this was dated from just yesterday. Home builders were quite optimistic about the months ahead that retail sales number was a little bit of an aberration. I think we'll probably see some positive revisions and guiding the sentiment of market participants in part is what happens with these trade talks with apparently a deadline March. I I think that we will see somewhat of a positive outcome. I don't think it will be resolved. But I think the investors are are looking at it with some optimism. And then also the fed has been pretty much on hold. If said they're going to do no harm. So that's another thing that investors can check off their lists. Doug trade. Of course, it could turn at any moment. I'll call you back. If that does change, right. It's it certainly can. But the fact that they're talking is is a good thing Darren Cavanaugh investment management. Thank you. You're very welcome. There's news. Is the biggest mining company in the world? Glenn core. The Anglo Swiss multinational is going to cap its coal output. Get in line with the big United Nations agreement to slow climate change marketplaces Renat sago is here with some details. They that Glencore says it's going to keep production at about one hundred fifty million tons of coal of year. That's about four million tonnes lower than what the company was forecasting to produce this year. This decision is huge for Glencore. The coal is made the company big money. That's allowed for billions of dollars in dividends. Share buybacks? Now, the company says it's gonna use this money instead to invest in renewable energy and metals used to make electric cars, and this is about the Paris climate change agreement to keep global temperatures down. Right. Environmental advocates have been pushing Glencore to cap its coal production for years that identified the company as a direct contributor to rapid climate change a group of pretty influential investors, including the church of England even got. Involved. This news really since a message to the global natural resources industry, the stand down, but Glencore still has to tend to its bottom line. Right, right. The company says it actually expects higher profit this year on call at even hinted that this news with Dr coal prices up. That's because we're seeing higher coal consumption in some parts of the world renowned. A thank you Glencore stock is down slightly in London. Despite the announcement of a stock buyback today. Now, the plan to keep rental prices down that didn't seem to work the cost of finding a place to live in China's mega-cities over the last decade has surpassed even increases in the San Francisco Bay area Silicon Valley China has a plan to fix this. But marketplace's China correspondent, Jennifer pack reports. Injure Young's fishing eel, stall at the chunk law market in central Shanghai. He does good business here. Just like his son who owns another seafood stall across town. But even together they still can't afford to buy an apartment in Shanghai. So they rent. It's a one bedroom place. There are six of us. Staying there me my wife. My son, my daughter-in-law in two grandchildren. The rent started at two hundred fifty dollars a month. But over the last four years it's gone up by fifty percent. Renton big cities continue to see double digit increases, even though China's government has pledged more affordable housing a John funded. Yang aging with real estate research institute e house says the government's plan is to attract investors with land and easy credit to build rental projects. The on. However, the policy did not address the demand side such as expanding the limited rights of tenants on top of that a new group of real estate brokers worked with landlords to upgrade the apartments, then rent them out at much higher prices agenda. Tweet the situation. Now is that there are still some empty rental units. Some rental projects shut or gone bankrupt. Because tenants can't afford the rent. Meanwhile, the government has demolished many buildings that don't meet fire safety codes. So there are fewer cheap places for migrant workers to rent. Back at the Chung while markets seafood merchant Rindge on young says he could return to his village in eastern Jiangsu province his house. There is far more spacious. Little pigs sleep in back home is bigger than the apartment or renting and Shanghai. CD? Living is hard. He says, but it's worth it. Because the money he makes injunction high allows him to own two properties in his hometown. In shanghai. I'm Jennifer Pap for marketplace. This marketplace podcast is brought to you by the United States postal service. Every day. We talk about how innovative companies are reinventing the way business happens. But none of that's possible without the right people to enable it people who get packages to over one hundred and fifty million delivery points affordably an on time with the latest technology and expertise. So who can help you deliver the future of commerce, the United States postal service? See why they deliver more ecommerce packages to homes than anyone in the country at USPS dot com slash future. Now to the Wednesday installment of house that Brexit going Britain, one of the promises of those pushing for the UK to leave the European Union was the the trade deals would snap into place with other big trade partners, including Japan and South Korea Wilmslow bunch the snapping the BBC's economics correspondent Andrew Walker joins us from London morning. Andrew good morning. David thought this. Supposed to be a trivial matter of cutting and pasting Britain could just switch over its trade relations beyond Europe to the rest of the world. It's not quite that easy. No. It hasn't. The has been some significant progress that have been continuity agreements made with some of these countries on the most important, one of all Switzerland. But some of the others are relatively small plans, the Faroe Islands, for example. And the business minister, Greg Clark has been saying that it doesn't look like we all going to have a couple of the really quite important ones done in time, namely, Japan and South Korea. This is I think a sign of something larger which is still a lot of work to do on post. Brexit arrangement. Absolutely both in terms of trade with the rest of the world issues and in terms of soda out. Exactly what our relationship is going to be with the European Union itself. Another thing we don't know what. Won't tariffs will the UK apply to products coming in from the rest of the world. Olis' remains still to this date with only a few weeks to go profoundly uncertain profoundly uncertain evolving. Terms of trade the BBC's economics correspondent Andrew Walker. Thank you. My pleasure, David. He mentioned the pharaohs their population fifty thousand it's an archipelago in the North Sea to the right of Iceland and to the left of Norway unless you're standing at the North Pole looking down. Then it's never mind in New York. I'm David Brancaccio with the marketplace morning report. From APM American public media. This marketplace podcast is brought to you by. Indeed, are you hiring with? Indeed, you can post a job in minutes set up screener questions than zero in on your shortlist of qualified candidates using an online dashboard get started today at indeed dot com slash marketplace. That's indeed dot com slash marketplace.
Most Overrated and Underrated Stories We Covered in 2020
"Picture this nineteen twenty seven chicago a black female blues singer. My rainy is well ahead of her time. And has no problem going toe to toe with music executives to get. What's owed to her in the new netflix movie. My rains black bottom. Viola davis portrayal. Rainy is incredible. The movie truly showcases the power of the american dream in a time when women especially black women were not respected watch. How my pave the way for artists today. Checkout ma rainey's black bottom in select theaters now and on netflix december eighteenth. This film is rated r. Snow is falling leaves turning brown and crunchy as we approach festive season. The wellbeing of those we care for is the most important use. Clorox regular bleach to disinfect to your home. When used as directed on hard nonporous surfaces. It kills ninety nine point nine percent of germs from your laundry whites to highly trafficked areas like kitchen floors and services like bathroom counters. You can count on clorox to keep your home protected when it counts. Trust clorox jack and miles Just checking in to let you know what you're about to hear not a standard episode of the show. These are Year end uram review and holiday themed episodes so if you're new to the show You know you can check back in the catalog For what the normal episode sound like And to this crap on the year. I am more back to getting january with the episode. Can't wait i e. hello the internet and look into this very special year end edition of guys. Production of iheartradio. I'm jackie o'brien ak. Oh brian's me. Oh me lovely are your haunches something. I just made up. And i'm thrilled to be joined as co host. Mr miles Your so wonderful. Christmas gray Whatever i hate that song but it because he's so bad. It's christmas movies. Yes and the also the delay ronkonkoma glencore back should also five with just from productions. Yeah it's definitely like one of the more unique sounding. I think different sleigh bells that they're allowing themselves to license to say the christmas. Yeah and also they pretty they stay pretty on message with belichick's oh about christmas. There's one of those anti war anthems mccartney. Yeah hey who's sent back then. My special guest. Mr deejay don Dental the red nose gamer dollar boy. This blood vessels doing on your nose or those great and he said you need to come back tomorrow. Friend need to come back yesterday and we are thrilled to be joined airport. See by the hilarious. The talented soups produce on a hose. Nia bro come to an rock high. Oh what time. What a time to be alive guys so this is the episode where we just look back at the stories that we missed this year. Miss that many stories. 'cause story or doing cast we miss so many we did. But we're going to do a you know just as a way of approaching it What were some stories. That were overrated. This year that maybe even we spent too much time and attention on and some stories. That were underrated this year. But i i wanna start with stories. That i can't believe happened this year. Just because of the so that oscars where a parasite one all the oscars and joaquin phoenix won an oscar and give speech about. How we're we take baby. Cows away from their mothers. That happened this year that that feels to me like twenty years ago right. that's right. Yeah the time when they were like right before we had to shut it all down really february way. I'm doing some fact checking jack and that was actually six years ago. Sorry but you're incorrect. Let's remove jack from the show. He's clearly spreading. Disinformation she's grounded. She's drowned. i'm dilation cafe. Also you trump's gonna win this election you're going to. I do walk. I do feel like because the oscars are so much like based around celebrity culture and celebrity worship and that was something that kind of completely disintegrated this year that that seems longer ago to me For for some reason specifically the joaquin phoenix speech. Because that was like based around one celebrity and Was an attention getting thing. That i just seems irrelevant and weird. Now that we ever cared Celebrity culture took a nosedive in this whole You know pandemic is easier to like lift celebrities up when you felt that there is still a chance you could also hit it. Big whatever that weird myth that dragon people all of us to certain extent chase in terms of what our vision is for what are are better future could be and like when you get to a point. Where like your reality is so grim. And you're feeling like man. This shit matters. You're gonna find comfort in someone who's like check out my fucking wonderful privilege and wealth like don't you guys like this and you kind of start me like focus. Which is why. I think the parasite becoming you know best picture. It really did kind of this has been like a theme throughout the year like increased class consciousness. you know although it's very at a glacial pace yeah yeah i think i have both of those things. In my sort of underrated. Stories of the year is the dissolution of celebrity like looking at magazine stories about celebrities. Now or even late night show interviews with like celebrities at home. It just feels like there's an added layer. Like i was never super into those things. So maybe i'm talking about but like it feels like there's an added layer of like dissonance to it and irrelevance like that. What why do we want to hear from a sorry to keep bagging on joaquin. But i like the any profile of a famous person. I'd just feel like why it doesn't doesn't matter anymore and also like with the corporate media. I feel like the the whole early days of covid where all the ads were like. Now that we're all in this together in these times like that also felt like a turning point to me in terms of like how we think about corporate culture like. I think we were already trending in that direction. But yeah the collective earth was like fuck. No way was like this is such heavy-handed bullshit. Because they all went to do the same exact move and that move was to emphasize an empathy and humanity. That just isn't there and transparently. Isn't there at the core of corporate values. And so yeah. I don't know like. I remember after nine. Eleven like all american media became like a commercial for like five years and that that worked because it was like jumping on the whole you know america jingoistic bullshit. But like i feel like this was because of the time that it came at. And because of i think there's also a sense in which like because we were all like you know twenty to eighty percent more depressed than usual. I've talked before about the study that says people who are depressed actually like are better at perceiving reality sometimes in some cases or at least have like more realistic and less like gauzy view of things like i feel like the way we started doing celebrity culture corporate media culture and You know marketing like both felt like we had the had the scales removed from our is. Yeah we've all been celeb- pilled. Yeah fucking 'cause i think now. It ushered in the era of like before. Celebrities are just abstractions like these ghosts who like did fund shit on social media. And you didn't really care much about like their personal lives is more like the thing you'd scroll me like. Wow they go to here and travel here and eat this and by this and when we start bringing it down to the level of like wait. We're all humans and now these people are showing me what they're lived like human experiences and now it's people are being more comparative critical sense not the comparatively with like. I don't have that. I want bat and now a better. I will strive for that based on this mirage. I'm feeding myself through the tv and screens or whatever that now is just it's gone completely different. And now the comparisons like memphis. This person i like what the fuck. They're they're going. where do they know. What the fuck is going on there. Like i'm out here like fucking worth. I'm splitting wifi with five. Different apartments trying to minimize bills collectively people and these people like me like hey. We flew everybody out to the secret location. Or this rooftop partier this blah blah blah blah blah and. I think that's really now. Were it's less of like solidarity and more just like it's now. We're starting to see the divisions between even fans and like the celebrities. I guess yeah that. Imagine video and the machine video For the very small portion of the world that is on social media and cares about madonna. That was wild when she was because what she said was true. She was like this just proves we're all in it together. Ritu saying it from a bathtub filled with rose petals being shot by like an entire a production team that shoes endangering by having and it just like those felt like such crystallization of everything. That and like. You're saying that the appearances were like oh this were eager for your at your house and everyone like is that a fucking resort alice right and you know i knowing people who work in late night there were like producers and other people camera if you were having to be more conscious of how they were framing these homes because they were like. It's not a great look to like walk around this person's palatial estate right now. Why don't we set up shop verandah. I can do it in a slaves see. I mean the servants quarters an ill look more like lo fi but yeah it really. Is those you know seeing this kind of opulence. Two at a time when people are experiencing like the polar opposite. I think helped you know people get slightly out of it not everyone though because you see people in those mentions like or comments who are like fighting on their behalf. Yeah leave kim alone. If she wanted to have a hologram birthday with her dad. It's okay. I still love you kim. And if you're like so many people that are like yo. You're fucking weirdo. Get off of here also like feeling. Sorry for them like that. They've built their You know group consciousness around being a fan of a celebrity who doesn't know on a you're pointing out something. That's kind of vaguely related as your story of the year. I yeah. I mean my story of the year. I think it happened at the beginning of the year. Was that ellen cock cove it really defines. The year explains her new hair shoes trying to hide the fact that she's had govan for year just joking. That was a choice though. That hair was a choice. No i think that really defines the year. I mean like we've just been watching this celebrity. Gaslight us i don't even know but like attempt to gas slice gaslight us in a way where we're like okay we can see you. You know what you did and now you're blaming everyone else. Mary strange ear for her where she got called out. It didn't affect anything. I don't know. I don't know how her in any way and then we She kept doing ellen. And she Caught covid. Because i'm sure she still lives in a bit of a place of like who me no inquisition as to which poor person gave it to her. Oh i can't imagine ellen degeneres taking this in stride. she's writing. Thermometers in all her helps butts okay as we speak their their surgically implanted when you accept employment and they're constantly updated your rectal temperature legs into me on my app. Know someone is being tortured because of this. Yeah right you know. It's not hidden places. Yeah other stories that i think had sort of an outsized. I don't know. I could be seen as overrated. Because they were just like Blew up when they happened and then didn't ultimately matter that much trump going to get impeached trump getting impeached and trump testing positive for covid both felt like the biggest news in the history of the world when they happened And then just nothing happened because They like i think we could have known heading in like the this is where trump derangement syndrome. I think is real that we were like for win so just like beaten down by The day-to-day just like flagrant disrespect for progress. And you know our values this guy put out there and so like the on his impeachment there. I think there was just a lot of hope there where they're probably shouldn't have been 'cause we knew what mitch mcconnell is gonna do. And when he tested positive for covid that felt like felt like a defining moment on social media at the time and then Just kind of went away yeah. It's it's a weird one right because so much of that at that tone is set by the mainstream media you know and even for us like we we look at what media is out there and we choose to talk about whatever things and like a lot of times. That's what's being served and when you really kind of take a step back and you think about msnbc and cnn should their whole thing was like your fucking numbers when the thing coming out of this tv is some sexy fuck and conflict impeachment. Not the fucking death of working people and like how we can do better. And it's given them a convenient counter programming or alternative programming to discuss that when like the reality of the country was definitely one other thing and the cova diagnosis very conveniently wiped out from people's memory. Trump's famous stan. Back in standby line. Right to fire up that white nationalist. That story fucking vanished. The cova because the media was to having so much fun being like. Yeah this thing blah blah blah and we were gonna do that shit too because we're like. Oh look fucking karma came for this full and you love to see it but at the same time we were spending time like he just had a rallying cry to all these extremists on national television. And you see to like where how even now like how they're gonna play it like. Are we going to keep folk are they. You know who's gonna keep focusing on trump and or his. Msnbc's is gonna going like oh. Isn't it so cool that we have like a woke head of ice now and it's like mom now like we've been talking about you guys were all in on talking about how fucked up. These things are when trump was in office. But what happens now when you got joe biden like what kind of energy are they going to have for any kind of like lobbyists entering the cabinet or of high high powered decision making positions. Not sure yeah. I will say though in regards to the trump getting covert. I do feel like we all really really needed that like. You're not the father moment you know like you like dancing like a big significant moment. I just think it wasn't what we thought it was at the we were doing. Those ghanaian pallbearer lit. But i was doing donuts in the parking lot with my car. it was. You're a hanging out that. Yes i was beyond those open main like i was living my life i go road the whip like i was it was on and yeah i was maybe like twenty four hours full of joy before i realized. Oh this is going to not do anything he will survive in. We're fucked but it was still like that that fuck in two hours of pleasure. I got maybe a years worth of serotonin off that. Yeah i think it is slightly underrated. What that did for our psyches certain level. Because ev i mean joe what i remember i forget who sent it through our text thread and you're like trump has kobe. That has not happened all year. I think the lakers winning that was like the closest i came and ethica for i feel like it was the peak drunk on the dopamine hit treadmill that social media put us on with us president. It was like we're we were just fully off that energy. It really like ev. My mom my pert- like old persian immigrant. Mother like devout muslim woman. Sent me a photo of alec. Baldwin as trump chugging bleach like tom who was like so like i don't make fun of like is like like yeah like she doesn't she's always like pray for everyone even was like like i hit it. Hit us over here. Asking trying to make a wild as video our scope adobe one video now you gotta see this guys. Let's take a quick break. We'll come back. Hey miles jack from work Hayes aac gang because no one audible is. This is something we've advertised before. It's one of the products that i use the most in my day to day life. It's the leading provider of spoken-word entertainment and audio books ranging from bestsellers new releases to celebrity memoirs Yeah business motivational history. It's it's dope and there's also original entertainment and now podcasts. A i've heard of those. But i i've used it. Recently in a new way for winnie the pooh books and it actually sinks across like so. We were listening to it on my phone with my four year old and then we went in the car and we're using it with a amazon alexa enabled car speaker. Okay and it just picked up same spot but we're listening in the kitchen. That's pretty dope. Okay i like that. Will you know the reason we're coming to y'all had in hand is to let you know that right now. This is the chance to get an audible plus membership with today offer. Now see now you can get you can get some of that exclusive content that still that only audible offers you like you know sophia chang's baddest bitch in the room or one of my favorites the corrupt fm podcast which is only available on audible as well. Okay i get it. I get it. I've piqued your interest. So here's a deal with this holiday offer. You're paying four ninety five a month for your first six months and that's plenty of time for you to realize yes. I need this. I like this. I love this yeah. That's an amazing price. Six months you're going to get so much listening done. You're going to be the smartest person in the world. You guarantee that right. You said her guarantee that jack. O'brien i personally guarantee you will be smarter than you were before van started doing this. So to begin that experiment visit dot com slash. Tv or text t deasy to five hundred five hundred one more time. Visit dot com slash. Td's or text td's to five hundred five hundred over the last twenty years. The us economy might have gained up to sixteen trillion dollars if the racial wealth gap didn't exist but it does and it needs to end with action. Racial equity city is working to provide greater access to banking and credit in communities of color increase investment in black owned businesses and expand homeownership among black americans because closing the racial wealth gap creates a better more prosperous future for everyone learn more about cities action for racial equity at city dot com slash racial equity. And we're back and just getting off of the trump subject for a moment because he did fully dominate the year but One thing that was a kind of became a big thing for a couple weeks. I feel like was the invasion of the japanese murder hornets. You had me a second until you said hornet of the japanese. What the fuck are i. Don't know like. I think our our brain was in alarm owed because we're living through a global pandemic so were like locked into threats and just on high alert and this story comes across an it's amazing like creature for sure but it. It's also a lake media panic that we've had for decades now with like killer bees and i don't know and sharks like maybe we just agree that anything to do with bees hornets and sharks. We just assume it's an overblown local news story until it's actually physically attacking us right. There's something about. I think we all have that. Fear of being stung by bees as a kid so like that is just that will always be in built with murder. What the fuck what plays on that very very well But you know people who've been on the internet we've known about these murder. Hornets video was popping on the internet like years ago. What was it like a murder. Hornets verse bees. Like these come through the hive. And do like your. We're fucking breaking y'all in half with our fucking pincers. And i was like this is this is tight and i don't want it anywhere near me. But in one of our first super popular cracked articles was one of the list. Items was was murder hornets. And how many people they kill and that video just based around that. That video is Legendary nick i for most people i think the people who probably resonated with are the ones who saw the like. Because when i was like you know about that it's just a name. I've seen this thing and they fuck bees up like their little cheeto puffs. This is not a game but you know as today. Just go away like what happened. I think this story in the first place was that one of them had been spotted like the one with sound or the existence had been detected on our lands. And by. Go away i mean. Did they buzz off. And that's our show folks so hyphen seek. Maybe but a i. it does seem That the honeybees are using poop now to ward off the murder hornets. That's latest headline. i ca- take a note of that book. I mean look out of steve. Bannon's book bro. Flood the zone. When she is less right. I wish it works. I guess infighting murderer needs to for these. So can't it'd be something wisdom in that the have fan zone are what else what else was overrated this year. I said right before. The world went into lockdown that we could use a global snow day. Yeah i remember that shit. Yeah nailed it. Thank you thanks. Everyone's swish swish. All-time bad take love for someone to hold you responsible for covid because you said on a podcast that humanity needed a second. 'cause capitalism was crushing. Everyone those are all still true. Now still get some tweets every once in a while people being like hey still think we use that global snow day bro. So but also those who like have. Y'all think jack could say something that would change. Yeah i could but you know the countries countries get back to work. That's hot to sense. Also feel like this is a very half-baked take but a lot of the just people being like kids are missing an entire year of school and like kids. Think it's a little bit worried about how the Pandemics affecting one of my kids because he like washes his hands. Many many times on also asks why people aren't wearing masks in movies but like kinzer super resilient i feel like and it's the parents and the older people who are failing to to hold it together and a lot of respect so i i guess it remains to be seen. How how this is gonna impact things long term. But i do have faith in like the plasticity of the minds of the the youngest among. I mean biologically. I think there's that but then also just the inequities between the students of this country are also being at on full display like on one hand so many kids who aren't going to be like you can't log in to go to school and like the percentages are so high based on what your parents income is like how likely you are actually perform in online learning. So yeah it's it's freaky like i don't know if lake we're going to be like yo s. Those are those kids that miss sixth grade. You know like years from now right. But i am very curious to see because i think even with younger children in my family too i look out on like damn i. It's weird because we couldn't begin to know we have no context for anything like this exactly out brings like we got out of academia like damn near fifteen years ago so it's like Yeah i don't know. I would be loving it if i was a kid but that was probably the first week and now i'm twenty one. Okay but i do think that the kids in i'm curious. Let me tell you sell lake. Tick tock i will say. I wonder when i will stopping like when i see someone to close to someone else in a movie these days i like have genuine like on a bench next to that person clearly in a different. It's a different universe. So it's like but i no matter what. Oh she just kissing the. It's really interesting to look back at. How because the this has been a somewhat similar experience to the one thousand nine hundred eighteen pandemic and including like the government just being like fight through it. It's we we've been we've been that country But like people. It's really weird. How people who grew up in that like don't really write about it that much like their news articles but there. It doesn't really like influence that many novels and like i think it's underrated. How little we know about like what the cultural legacy of covert is going to be. It might be less like movies specifically about plague pandemic and more than one hundred as like how it's affected just like mental health. You know baroness around it to you. Yeah am yeah. I wonder how go or maybe they'll just ignore it like it never happened. You thought that will make it hot now and bring us ns. I think it's probably like The knock on effects of the you know the the roaring twenties happening after the pandemic influenza pandemic i have a feeling we're going to see it more in what our values are and like what we've defined as living. I think that's going to be the real interesting piece of like how it changes our perceptions on like the definitions or accepted norms around such things. Like are we going to embrace our own interests more and be like fuck it man. Life's too precious to me for fucking the stuff. I have to really live. My life or people are going to be more restrained. More scared more reckless. That's the thing that will be interesting to see how we come out the other side. Yeah i think there's a like kind of in line with that. There is a underrating of the progress. Very painful progress that was made in twenty twenty at the level of like grassroots like people on the streets doing things with black lives matter with the sanders campaign having more success than any like socialist campaign in the history of the country and all of those things are being written off by the mainstream media as you know black lives matter almost cost the democrats the election and like they need to change their branding around defend the police and the sanders campaign. Like you really can't find anybody even talking about like that as they as a success at this point like you can't even find anybody like remarking on it. It's just like it went into a memory hall that were not reflecting on and i think you know the you were talking about the roaring twenties like i think there is the possibility that progress is being made in a painful way. It's happening in response to the right leaning. Like government and media apparatus running the fucking train into the ground. But you know that that is what happened in the thirties And that was when we finally had like some social change and the new deal. But i just it'll be interesting to see how the what the responses here because that i feel stronger institutions and better media. And there's a chance this will just keep getting worse enforcing a progress slowly by slowly. Yeah it's interesting. I was looking at the google trends for the year and under the category. How to help how to help. Black lives matter was second to how to help australia. Fires in this country. I think that's a very indicative overall of like where we're at like just through search traffic there was more interest around. You know the fires. Obviously were terrible thing that occurred but you know dealing with perceptions of systemic racism in this country knowing that ray maybe the maybe the australian fires are a little bit more dire. But i think that's another thing that's underrated to me. Is i just feel like. There's i'm hoping that we can have more of a discourse around like that. We've lost our sense of humanity in this country. Yeah and i know it's out of self preservation. I mean you can only look at catastrophic loss of life on a daily basis and have to begin to compartmentalize to be able to move through your day but there's something there's really illness in this country of our inability to look after each other and while many people are able to do that on human to human level. So much of what's happening is being dictated by. People who really do not embody that feeling are so disconnected from their sense of duty to another person that it's only just magnifying the imbalance in the country and it's It's something i wish. More people would be able to talk about as like a really big fucking hole in our national identity. Think like yeah. Yeah i think we are. That's where like there's a lot of like colts and obsession with called from watching people who've got into colts and then like trump forming his own death colt. I think we're seeing like because we're as a culture and as a country deprived a being able to identify with our fellow humans and group not just activities like in person. but just. I think it's been happening for a long time. We're so individualistic in america. And like the way we're getting agroup identification out is like in these really unhealthy unhealthy ways. Talk about that and trends a little bit more. Let's take one more break and then we'll come back and close this thing out. Hi guys i'm katie. Host of the podcast katie's crib with empathy. And a big dose of sense of humor about it. All katie's crib keeps it real while providing an indispensable guide for parents trying to find their way. These are some of my favorite moments from the show presented by baby dove my daughter when she first looked more like my husband. I was ecstatic. I loved her so much and suddenly she started looking like me. And i didn't know how to relate to that. Oh that's so interesting. That started showing me how how i still need. Love my self in a way ono like how. That's so awkward and weird. That's why i feel like having her has has helped me love myself more to. Yeah yeah we believe care for. Mom is just as important as care for baby. Listen to a new episode. Every other thursday katie's cribs available on iheartradio app podcasts. Or wherever you get your podcasts. This holiday season pepsi co. is partnering with toys for touch to give a gift with every bottle with every purchase of specially marked pepsi mountain dew and sierra mist two liter bottles pepsi cola will donate ten cents to toys for tots so head on over to your local food city and give the gift of giving happy holidays from pepsi and we're back and dj daniel. What what is something. That you think was underrated from this year story that you saw or so just we were talking about the The beginning of the year. Basically this kind of you know attaching to the australia wildfires as well but we had The assassination of that irani general sola amini. It was like that really seemed like a a trigger on the end of the On the end of the trump campaign of the trump presidential era where he was like. I'm going all out baby like this is i. I'm i'm flexing. My presidential mustn't here and being like this. You know the strong president doing this thing where people were like you were about to literally start a conflict in the world. You're gonna start another world conflict right here and that also kind of just you know went away. I feel like. I think there's been like small responses of course in but overall it felt like that was just came and went. Yeah look in. The zone gets loaded shit you know. And that's the hard bit and it's funny 'cause like on one level you could have the democratic leadership or media like stay focused on certain things like this other ships bullshit. We need to talk about this thing but everyone sort of at the you know kind of goes with like the trend flow at times and yeah like we get these we get these moments No i would say. Maybe the sony stuff went for us. But i'll tell you honey. Don't go for iran i would keep is boy. Iran is still officials is. We have not avenged his death. Yes just biding their there. Probably hoping that the rest of the country feels the way. I just described being like that thing. I think what surely find out how they feel when biden and tries to reset up kind of like a nuclear plant again. I think things will. It will start to be like. Wow that guys. This is kind of what we want in return. I think they will play it kinda strategically because amen persian which one of you guys do to murder. Give us a list like a punch card or something and then the the only other thing my list that felt. I don't know like i. It's doesn't feel like it happened in a different year but it does feel like it was the end of a story that we'd been tracking like the first step in a movement is the weinstein verdict in the fact that you know he's gonna die in jail now hopefully but in a world that felt like it was just bad news for progress over and over again. This was like a good news story that we were in the middle of a bad bed news too much to fully embrace where he say on. I was just saying bears every time he said bad news. Walter mouth bad news. Bears you guys. Harvey weinstein was bad news bears. Everyone says bad news. You got dropped bears about them. I think yeah. I mean it's nice to see that. There's those seats changes. We were feeling occurring years ago or like continuing. Although like you know then you like. You saw the controversy with how the money was being spent within times up and that organization. And they're like. Ooh y'all just throwing money away and not really getting a lot of the better shit done you could have. But i think that's like any organization that finds itself flush with cash and you know not a great leadership structure at time to timeline. She gets a little wacky as even with black lives matter now like so many. The local chapters are now like complaining to the lake. Sort of main office to be like. Where's the transparency. What is going on. Who who are you. What are we. What's going on here So you know the saga continues against one. Other thing that i feel like has degraded or changed a bit more and more in the next year is like the trump administration created a new mainstream media. That was like all focused on trump and all focused on you know. i don't know it was just. We started relying on social media and the promise of the premise of social media. And then those all got turned into surveillance firms and then the mainstream media is less in touch with the humans. It's post to serve than ever before. And now we have this insulated like just class mainstream media. Who can't think outside of their bubble of like college educated liberal arts graduates and ted talk for generational wealth. Like i knew people who are on. Msnbc they didn't grow up rough to very expensive schools in this city and do not. I mean as much as i know they are connected with the plight of working human beings. There is something of the origin stories of a lot of people that are dictating our policies and our media coverage that has so disconnected from that part of it And we're just we're getting fed. Blake this fed back this weird version of the country. That is very strange. Not really real for most people. Yeah so i don. There's going to have to be a reckoning there because we're entering a new world where the world does not just fully has ted in the toilet of the trump administration and is able to actually look a little bit more clear headed at the problems in how we're covering them and msnbc. I don't know what like everyone was doing well. From just a arcane barbaric ratings perspective round like what good they were doing but how many people were watching and everyone had their version whether it's fox news as you know leading the charge against obama or trump's chairlady or msnbc. They really found their place and cnn. We are the resistance quote unquote and this is where you're going to get it without that. I'm not sure you know what the programming is gonna look like if if they insist on going with trump lake. Come the fuck on. This is not doing anything and you'd hope i mean. I don't know how much it's going to happen. But you'd see there'd be a lot of opportunities for the media to have varied objective criticisms of this presidency up upcoming administration and be able to voice those in a responsible way to people being like you know we can do better than having like literal manifestations of raytheon dictate our defense policy. We can do better than people coming from like the cesspit of old school agribusiness. Heading up the usda. You know there's a lot of these things where we could have changed but you'd hope like know. They were very willing to talk about that when the shoe was on the other foot. But i'm you know you'd hope i know but rachel maddow's openings are probably less sexy when she's not talking about like you know whatever. The scandal does your is versus We're failing the entire country. Our leaders are entirely failing us. I'm trying to lead as a journalist to report on how awful the lived experiences. All anything else anybody wants to cover before we Did a due to listener. Let's the new. Didn't do outbid a dude. Once we all right guys that is gonna do it for this special year. End holiday issue. We are back tomorrow with another one of these we're we're going to be looking at the the streaming content. We knew and loved. And we're going to talk to you. All dan have a good day and we will talk creole then. Reisen is proud to give nurses and their families our best pricing ever on with five g included at a cost five g nationwide included on all unlimited plans. Five g ultra wideband included on select unlimited plants. 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Your tax refund isn't free money
"This marketplace podcast is brought to you by. Indeed, are you hiring with? Indeed, you can post a job in minutes set up screener questions than zero in on your shortlist of qualified candidates using an online dashboard get started today at indeed dot com slash marketplace. That's indeed dot com slash marketplace. What's in a word? You ask. Oh, plenty says the Federal Reserve from American public media. This is marketplace. In Washington DC today, I'm KAI Ryssdal. It is Wednesday the twentieth of February good as always to have you along. Everybody the language of the fed in a minute. But we are going to start today in the history might not repeat itself. But it definitely rhymes section of the broadcast campaign finance edition. It's brought to us by the Senator from Vermont the once and president presidential candidate Bernie Sanders. You might remember back during the two thousand sixteen campaign Sanders made much of his small dollar fundraising prowess. Anybody here know what the contribution? Wendy seven dollars Sanders announced yesterday that he is in for the democratic nomination in twenty twenty and then announced this morning that within twenty four hours. He had raised six million dollars from two hundred and twenty five thousand people which works out to when you do the math. Yes. An average donation of twenty six dollars and sixty seven cents a piece Senator Kamala Harris couple of weeks ago. Basically the same thing slightly less money million and a half dollars in the relative. Blink of an eye. All of which is to say this is going to be an expensive race along one to especially for the donors as marketplace's Kimberly Adams reports campaign fundraising typically determines how much ad time. A candidate can afford how much staff they can hire. But this early in the race the money is about positioning in a crowded field. One of the ways that these presidential hopefuls are. Distinguishing themselves is by demonstrating the breath of their support. Amy Allison is president of the political network. She the people it's just a way to measure if the campaigns will be around long enough to see Labor Day this year, and Democrats aren't the only ones making a statement with their opening numbers. President Trump hasn't stopped fundraising and his one hundred and thirty million dollar campaign war chest sends its own message. Jennifer, Nicole, Victor is a political scientist at George Mason University. One of the strategies he's trying to pursue. There is to scare off an opponent who might seek to challenge him in a primary by showing how formidable he is as a candidate. And as a fundraiser, highly coveted small donors have been turning out for both sides, and Victor says they're likely to keep giving what they can prompted by emails speeches and news events. But for the big donors folks who regularly give thousands of dollars. They're going to be getting. Called repeatedly throughout twenty nineteen and twenty twenty Jennifer here wig is a political sociologist at Stony Brook university. Who studies political donors though, large doors with such a wide democratic field may start experiencing some fatigue with such a long race. And so many candidates to potentially support because those donors are probably on everyone's list in Washington. I'm Kimberly Adams for marketplace. We detour now to matters economic and linguistic the Federal Reserve released the minutes of its most recent meeting today, the one at the end of January at which cheer Jay Powell, and his colleagues made it pretty clear, they're willing to stop raising interest rates for a while giving some signs the economy might be slowing that was a big change for the fed. And we wanted to make sure we were reading the central banks signals the right way. So we reached out to a professional for some help. Jessica Rhett teaches linguistics at UCLA. Welcome to the program. Thanks for having me. So I'm going to reach. Couple of things here. And then I I need you to tell me what you as a person who studies this stuff. What do you think? The Federal Reserve means. Okay. Sounds good. All right. So at their meeting in December, and we're talking about this again because the meetings came out today from the January meeting them was reason meeting, but back in December the Federal Reserve said this about economic activity in this country. It said economic activity has been rising at a strong Rayton. Okay. Rising at a strong rate and then in their median January. They said economic activity has been rising at a solid rate. Can you help me understand what Jay Powell and the gang at the fed are trying to do here? So that sounds to me like a slight weakening strong is a positive evaluative adjectives that see just that. We've got a positive judgment about what's happening. So if I have a student, and of course, and I say their progression is strong, then it's just I feel positively towards that progression. On the other hand, solid solid. Progression is not necessarily a positive when it could be something. I'm not particularly happy about. But at least minimally it's consistent. So the two adjectives focus on different components of the of the rise. And you could make the case that the fed maybe not so happy with the way things are going right now, hence, hence, the sod. Let me let me try another one on year again from the December statement, it was talking about interest rate increases this time, and the fed said the committee judges that some further gradual increases in interest rates are going to be necessary that was December. And now this past month in January. They said the committee will be patient as it determines what interest rates ought to be decipher that for me. So that seems like some more subtle weakening in three respects. So the first one is a statement of of the fact that they want some increases, but there's three sort of hedging our weaken. Ding components of the updated version, they're going to be patient as determined what future adjustments to the target range may be appropriate. It's we're sort of not going to come down onto physician of whether or not there's going to be a change, and whether it'll be increase or decrease when you put all of these things together, it's sort of a monster the difference between the sentence. I know how much coffee KYW wants which is a sort of straightforward declaration of what the facts on the ground are versus I wonder whether KAI might want coffee, which is significantly more heads than less informative. So they know what they're doing over there will. Well. Okay. So first of all, I definitely wants coffee, but second of all I mean, they must spend an excruciating amount of time on this word play. And I, and I don't mean that in a pejorative sense. But but clearly they're very intentional about. Literally the words. Yeah. I'm actually a little impressed with the minutes. It seems that they know what they wanna do. And they know how to do it very subtly. Is one that I can say for a lot of us. What? Well, yes. Do you think actually? And this is a little bit sideways, and I don't know how closely you follow the business press. But do you think we spend too much time trying to do the Kremlinology of of what the fed is talking about goodness. Well, what else would we do with our time? I think reading TV's sun, and they've given us a lot to work with you. So sounds like a useful exercise to me. Jessica read is an associate professor of linguistics at UCLA. Thank you so much for your time. I really appreciate my great to be here. On Wall Street. Dale whole lot of bouncing around little net. Change, though, we'll have the details when we do the numbers. No pressure here. But it is something less than two months till taxes. Are do a lot of people have filed are ready, of course. But a lot of them are none too happy first of all taxes also though because they're refunder down nine percent on average from last year that's going to the Internal Revenue Service. And it's interesting because most people actually got a net tax cut from the two thousand seventeen overhaul to be clear here, if you've got a refund Meizhou gave the government too much money you can void that by Justin. You're withholding how much your employer takes out of your paycheck and sends straight to the IRS, but people have come to love and count on their refund. And as marketplace's Marielle Sagarra explains. So too has the rest of the economy. Maybe you've seen this ad recently. It's from ATC income tax based in Georgia three couples are sitting around dinner table, and they're bragging about their tax refunds how much we talking for. Seven. That's more than we got. Oh my God. This is Justin McAuliffe. He's a CPA in bellmore New York to him this ad represents everything that's wrong with the way, we think about taxes refunds aren't cool. Right. Like, that's your money. They're making this seem that a refund is something magical. It's your money as McAuliffe is constantly telling his clients and anyone else will listen a refund is just money you overpaid taxes. It is an interest free loan to the government. It's also something the multibillion dollar tax preparation industry uses as a selling point. We're leading our clients walkaway thinking that we're great because of the refund we get them. It's bull. It's garbage. And yet judging by the widespread dismay over what's happened to refunds this year. People have gotten attached to them. How did we get here? Let's go back to the early nineteen forties. The US had just entered world. War too and the government needed money to fund the war effort, so congress expanded the income tax no longer was it only the really rich who had to pay. I paid my income packed today. The treasury department, even commissioned Irving Berlin to write a song reminding people that paying taxes was their patriotic duty. I'm very glad. The government couldn't Bank on patriotism alone. So it created withholding employers started deducting taxes from workers paychecks and sending that money to the government. But the math was tricky and by the late forties. The government was giving back about two billion dollars to tax payers a year. The tax refund was born an along with it. A huge marketing opportunity back then at gardens grandfather owned a car dealership in Hinton, West Virginia, and like a lot of car dealers. He was always coming up with gimmicks to get people in the door actually gave away two ponies two two little girls who dragged their fathers into look at the new fifty seven Ford so garden who's an auto historian says the tax refund became yet. Another way to sell cars, feel ships were savvy, and they were essentially saying we know you've got money coming to use soon going to be jingling in your pocket. You probably need a new car by the sixties all kinds of businesses were trying to cash in on refund season, come spend your refund on a new couch or a color TV or a side of beef sixty seven cents a pound and along the way refunds became part of our lives. David Williams is chief tax officer at Intuit which owns the tax preparation software. Turbo tax. He also spent years at the IRS, I've yet to see anything that will dissuade taxpayers from wanting demanding a significant refund which like a birthday present, you know. Somebody since you money, Rachel Davies lives in Virginia. And yes, she knows the refund is her own money. But like nearly three quarters of tax payers. She and her husband are happy to have the government hold onto that money for them. They get back a few thousand dollars every year. I know it's not the best practice, and so it's hard to admit. But I'm not very disciplined with the money. That's in the checking account over the years. The Davies have used their refund to buy new tires and season passes to an amusement park, but they just did their taxes. And it turns out they won't get a refund this year. In fact, they own money a Mariel Sagarra for marketplace. If you wanna see some of those ED's or maybe read the sheet music from that Irving Berlin song about income taxes. We got them online. Marketplace dot org. There's news from big cold today decision by Glenn core. The Anglo Swiss mining conglomerate that it's going to camp production at one hundred fifty million metric tons of coal a year. Which is it has to be pointed out a little bit more coal than the company mind last year. But the announcement is a big deal. And it's a bit surprising because Glencore has until now been bullish on coal saying, it would keep driving companies profits supplying developing economies in Asia. So marketplace's Mitchell Hartman explains the one eighty over the past few years Glencore has been pumping up its coal mining operations, which short term profit wise has kind of made sense says Custos Samaras at Carnegie Mellon University. Demand is still very strong in India and other parts of the world last year, coal shipments were more than a billion tons for the first time ever. So why is Glencore now pulling back near responding to? Institutional investors looking at the writing on the wall and seeing increased risk from assets that won't be viable in a low carbon world that has increased appetite to deal with climate change. These are long term financial risks like increased regulation that favours renewable energy also climate change lawsuits against fossil fuel companies in the long run Adele Morris at the Brookings Institution. Says market players are signaling the grim outlook for coal reflected in no new investment in coal fired. Power plants, they expect eventually to have their greenhouse gas emissions Kerr tailed. Meanwhile, Glenn cores plan to cop coal production. Could have an upside for some US producers that want to ship more to Asia where demand is still strong says in Lang at the Colorado school of mines. This is good news for them as if they can get to that Pacific market. They might have less competition. But. That won't be easy. New coal export terminals need to be built in coastal states, like California and Washington where position based on the risk of further damage to the climate is strong. I'm Mitchell Hartman for marketplace. Coming up this scene kinds of asthma triggers that exist in homes also exist in daycare centers and cleaning them up ain't cheap. But I sure do the numbers. Duster's up sixty three points today about a quarter percent twenty five thousand nine fifty four. The NASDAQ gained two points that's less than a tenth percent. Seventy four eighty nine the S and P five hundred up four points about a ten percent twenty seven and eighty four Mitchell. Hartman was telling us about Glencore cheers up two and a half percent day Samsung, the galaxy fold phone today the screen folds in half works like a tablet when unfolded shares a career bass amps are not easy to buy in the United States doesn't trade on American exchanges, but you can get the new galaxy starting in April, but get this price tag almost two thousand dollars as for Samsung's. Biggest competitor. Apple shares up six tenths percent today. Bond prices fell on the ten year treasury note rose to two point six four percent. And you're listening to marketplace. This marketplace podcast is brought to you by the United States postal service. Every day. We talk about how innovative companies are reinventing the way business happens. But none of that's possible without the right people to enable it people who get packages to over one hundred and fifty million delivery points of Ford ably and on time with the latest technology and expertise. So who can help you deliver the future of commerce, the United States postal service? See why they deliver more ecommerce packages to homes than anyone in the country at USPS dot com slash future. And by lions for lifetime income and organization dedicated to educating and raising awareness about how annuities Consol retirement income needs because income planning that includes protected monthly income solutions helps ensure you'll never outlive, your money and retirement, find out if making annuities of vital component of your portfolio is the right choice for you. Learn more at retire your risk dot org. This is marketplace, I'm KAI Rozelle two items with which to begin this next story number one. It was thirty degrees with sleet and freezing rain in Washington today. Number two, though, the Washington nationals and the rest of visual baseball have been in spring training for a week or so a sure sign that springtime will eventually be upon us. But major league baseball business has been having a bit of a rough. Go attendance is down in games come on the kind of drag. But according to new report by the sports and fitness industry association. Baseball participation is actually growing ritual. Bachman covers sports for the Wall Street Journal. She wrote about that study today, it's going to have you on great to be here KAI? I kinda can't believe I'm saying this given the problems that major league baseball is having with attendance, and and interest and all of that. But certainly down lower in the programs. It's hot what's going on baseball participation is up overall about twenty one percent in the last four years. This is. Prize to people who've seen all the critics pelting MLB for sla-, sagging, attendance and games that seemed to never end. How is baseball doing this? First of all, let's let's stipulate here. It's it's a conscious thing. It's an organized thing that major league baseball is trying to do here. That's right in twenty fifteen along with USA baseball, the governing body of the sport and the US MLB launched a program called play ball. And the idea was just simply to get as many kids as possible playing the game. Even if it was just throwing a wiffle ball around at a park that have had a bunch of events all over the country and low and behold, the number started to climb do we know how much major league baseball, his pain and make all this happen. You know, I don't know that. But I have to say that they seem very pleased with the results the ranks of kids who just play baseball a little bit. You know, like a like a handful of times a year grew fifty three percent in the last four years, and if they can convert even a tiny fraction of those to sign up for leagues. Becoming lifelong fans I would say that's money well-spent, that's casual player grows, right based on this on this study. What about this thing called frequent player growth? Yes. That's much smaller. That's about five percent over four years. That's you know, kids who are generally signed that for league's most likely, and you know, that's the harder thing to crack. But that's also the area where a lot of other sports are falling off. And so the fact that baseball is gaining even incrementally in those core players is really notable get it back up to the major leagues for me. Right. Because in and look I go to a couple of dodger games a year, and it's fun and all but honestly three plus hours for nineties. Baseball is kind of kind of as news or what is baseball doing anything to to get the actual professional game, more direct? Well, I know they've made some tweaks to try to speed up the game and that is an ongoing challenge. And you know, an open question is how much sports betting might affect interest in the game. I know that that's sort of a delicate line for a lot of leagues. But. Some leaders in sports have said, you know, the more people have riding on the game the more likely they are to be very interested even for three hours at a stretch skin in the game. As it were. Rachel Butman is a senior sports for the Wall Street Journal Mitchell. Thanks a lot. About one of every twelve children in this country has asthma just about that many adults to works out to about eight percent of the whole population. So says the centers for disease control, the CDC also points out that as my also costs this economy more than fifty billion dollars a year in medical expenses lost school in workdays and early deaths. So in Tacoma, Washington. A group of moms has decided to take on the problem early Isla show. Neil reports. When you have eleven Daniel's daughter was about to start kindergarten. She took her to the doctor for a cough that wouldn't go away threaten is two Cessna. And the doctor said your daughter doesn't have a cold. She is asthma the doctor gave oven dagnon inhaler and other medications which oven. Daniel brought to the nurse's office at her daughter's school wouldn't have done. So to me it really surprised me to find that the shelves of the nurse's office were full of medication like my daughters. And I said, oh, so this is a very normal problem here that I'm thinking about what she could do to help tackle the problem of asthma the Latino community in the Tacoma area. Now adverage medical costs for a person with asthma is about thirty three hundred dollars per year. That's according to the CDC but people with asthma can reduce their risk of asthma attacks by taking their medication and by getting rid of dust, mold and other things that trigger asthma. Sally finley's a public health researcher Columbia University. And she says one way to tackle the problem. Is to look at daycare centers. Children in daycare centers, bend a lot of time there. So all of that time, they're being exposed to whatever triggers are still in the daycare center. Finley says daycare providers want to have clean spaces. But don't always know how the same kinds of asthma triggers that exist in homes also insist in daycare centers, you can find roaches. You can find mold blankie and bears could be the home for dust mites. Finley says some cleaning products like chlorine can also trigger asthma armed with this kind of information. I've done you in nine other moms from the Tacoma area decided to take on the problem of asthma triggers. Daycares they started by visiting small unlicensed care centers and surveying their conditions. Also through helium is one of the moms in like a yoke. We it on the daycares, I visited it was really small and the windows were always closed. At the end of the survey. We said look you have to open the windows every day for at least half an hour in the cleaning products. Use are also very important. They had a known these things I think our advice helped. In a trailer park southeast of Tacoma. A two year old is building a house out of child sized chairs sheets of cardboard that are bigger than he is. This play house is inside a trailer home belonging to Addison mckiness Martinez takes care for kids. She charges three dollars an hour per child. Medina says when she first started running the daycare. She didn't know much about what could trigger asthma attack them which ascetical auto much sent this you should while sheets and stuffed animals regularly because they got a lot of dust medic Dina's says the mums hotter. A lot about how to keep your house free about my triggers Daloa LaSalle golden, but it's better to use Ganic cleaning products, and if you use chloro- measure, small amounts public health, researchers in New York and Florida have studied similar programs to train daycare providers there and they found the programs reduced asthma hospitalizations. Among toddlers the moms into coma say they hope public health departments. Here will start their own asthma. Actions and education for daycare providers. So the program can scale up into coma, I mainly showed you marketplace. This final note on the way out today from the I do not like it semi. Am file. I'm not quite sure how I miss this. But Netflix, it seems has a new show drop in this fall. A reinterpretation of the Dr Seuss classic green eggs and ham. Ellen Degeneres produces the voices of Tracy Morgan. Diane Keaton, Michael Douglas, Alana Glazer and de digs among others star. Here though is the thing. I don't get the book takes what like five minutes to read aloud tops. Netflix thirteen episodes. All right. We are out of here. The down up sixty three points today about a quarter percent. Nasdaq basically flat the S and P five hundred gained four points about a tenth percent. There are media production. Team includes Sabri gear, Jake Gorski, drew justed, Jeff Peters, Dan Powell, Daniel Ramirez, Charlton Thorpe, and Ben tolliday. I'm KAI Ryssdal. We will see tomorrow. This is APN.
Are Indias COVID vaccine exports seeking to counter Chinese influence in Asia?
"This marketplace podcast is supported by equifax as the world's digital infrastructure company equinox enables you to access all the right places partners impossibilities to accelerate your digital advantage together. We can transform your business and changed. The world learn more at equinox dot com this marketplace podcast is supported by out systems the application platform that enables every company to innovate through software. Out systems accelerates the development of business critical cloud applications build the difference without systems for more information visit out systems dot com slash action from oil to medals. All eyes are trained on the commodities markets. Today live from london. This is the marketplace morning report from the bbc world service. I'm victoria craig. Good morning. let's kick things off with a few numbers now. Oil prices have hit a thirteen month. High as the american south is caught in the grips of a deep freeze. That's not only boosted demand for electricity there but threatened texas oil production after wells and refineries temporarily shut down yesterday the price for west texas intermediate crude is up six tenths of a percent today to just under sixty dollars a barrel while bp and royal dutch shell stocks are up one point two percent and seven tenths of a percent here in london meanwhile shares of mining giant bhp billiton are up seven tenths of a percent that move comes after the reported. Half-year profits that hit a seven-year high thanks to a surge in iron. Ore prices. The company's boss. Mike henry told the bbc what's caused the boom in demand. I think what it reflects is a very strong Recovery underway within china but also in recent months. we've seen an acceleration of the economic recovery in other economies as well. That's in the near term. We're seeing steel. Demand increase on the back of that and one of the key ingredients says was called out. His is iron ore. Strong prices have also driven shares of mining and commodity trading company. Glencore one of the world's biggest more than three percent today. Here's one more number for you. Fifteen million. That's the number of people in the uk who have received at least one corona virus vaccine does target. The government sources told. The bbc has been met for this month. That kind of progress in the country's vaccine program isn't the same scene around the world but getting better more equal access to doses is a priority for the world trade organization's new director general. Dr goes the okondo a walea. The bbc's jonathan joseph has that story greet without buying up the gavel at world trade organization headquarters in geneva the protracted process to pick a new leader came to an end and leadership is desperately needed. Not least because of the damage. Karuna virus pandemic has wrought on the global economy. Dr guzzi akon joe away. La is well qualified. The former nigerian finance minister was also number two at the world bank and has made much of her experience in bringing about change in those roles for me principally. There's so many problems to resolve. First and foremost is the issue of the pandemic. i'm looking at how wti rules can help. Make access to vaccines therapeutics and diagnostics. More accessible and affordable for poor countries and very proud that i was associated with the kovacs facility which is supposed to help poor countries get access. Dr congo wailer did vaccine. Nationalism wouldn't help end the pandemic she said. Wto rules could help accelerate the licensing vaccines in a way that protects the intellectual property of countries that are funded development. They hundred members still have export Restrictions and prohibitions. So a priority will be. How can they lift this so that medical supplies will be really more freely available such achievement. She said could build trust the wto in order to solve. Its many problems which range from an elusive deal on fishing subsidies to the us china trade war climate change and the digital economy. Jonathan joseph's reporting there about worries over vaccine nationalism. Now to talk a vaccine. Diplomacy india began commercial. Exports of vaccines to select countries in january and is likely to ramp up distribution in the weeks ahead noodles focused so far has specifically been on regional neighbours gifting millions of doses two countries as a sign of goodwill as the bbc's a runaway mukherjee reports. Some experts are seeing that as india's attempt to counter china's dominance in the region of plane lands and from the cargo hold emerge several gardens of the oxford university. Astrazeneca gobi shield jab the covid nineteen vaccine manufactured by the serum. Institute of india is being flown in from india to several nations pictures and tweets of thanks from heads. States have been on full display on social media. Happy how you're ahead of rolling out the vaccines to foreign countries. On the ninth of january prime minister molly had a message for the world are up aig. India has developed to made in india vaccines being the pharmacy. The world we'll ensure vaccines reach every one of the world. We've done it before we'll do it again. Experts say india has managed to get an edge over china enrolling out its vaccine exports mr sudarshan gender. The secretary general of the indian pharmaceutical alliance fields helps new delhi showcase itself as the more reliable ally. The gin will be. India will assert position as as amish of the word is concerned as a dependable supply of both india and china played a crucial role in the world sending personal protective equipment and medicines to fight covid nineteen last year vaccine diplomacy. Maybe the next stage of pushing that soft power over the years. New delhi has grown uncomfortable with increasing chinese influence. India's backyard china has flexed its economic muscle to push investments in structural and defense in the neighborhood. India has repeatedly tried to keep pace and now hopes to leverage to its advantage. The fact that it produces sixty percent of the world's vaccines but scholars like manoj joshi from the observer research foundation. See it may not be sustainable. Did currency off influence remains the economy finance military aid. That currency is not going to change. Vaccines are not going to become the currency of future. In the first week of february indie announced ambitious target to fulfill seventy percent of the world's vaccine needs experts have cautioned while the generosity is good india's one point three billion population should not be left behind in delhi. I'm the bbc's for marketplace. Don't forget all our vaccine coverage lives under the track tab at marketplace dot. Org in london victoria craig with the marketplace morning report from the bbc. World service. i'm christy. Clark host of our podcast the uncertain our and this season. We're looking at this thing. We used to call employment. You know a job the kind where the place where you work pays you. At least a minimum wage gives you health insurance sick days vacation. Those kinds of jobs have been disappearing in a whole lot of industries replaced by subcontractors gigs and armies of non employees and this season on the uncertain our we dig into history and policy to figure out what happened to the american job office workers. Er doctors janitors baseball players. Maybe even your job check out. This season of the uncertain. Our wherever you got your podcasts.
Working to Live: Q&A with Marty & Em
"Welcome to the no bullshit. Leadership podcast in a world where knowledge has become a commodity. This podcast is designed to give you something more access to the experience of successful. Ceo who has already walked the pau. So join your host martin moore who will unlock and bring to life your own leadership experiences and accelerate your journey to ladyship excellent hey the and welcome to episode one hundred and eighteen of the no bullshit leadership podcast. This week's episode. Working to live another. Cue and i within now when we spend so much time dedicated to our work. It's pretty common to feel as a win. Neglecting other important areas of our lives at families our health even fundamentals assist for leaving disappeared. We forget we're supposed to be working to leave not living to work and we get listener questions on all different flavors of this issue so we thought we do i episode to cover off on a few of the common ones and give some guidance on how to make sure you don't get trapped on this particular treadmill so we'll come back to the mike at the other half of your mentor. End producer of the noble. She leaves you podcast. 'em hey monty. Hey coming yeah really good really good i. He got a bit of a heatwave going on in sydney. It so hot here. But that's what. I love about an australian some aside. Look i can't complain great so it could be in the cool of the podcast studio for the morning. So loads of exciting stuff going on at the moment as you know we rapidly closing in on how million downloads mall stein. And we're getting really excited. The bad free virtual event that will be holding february. Now you and planning that yesterday morning and it's really starting to come together right. Yeah i know. I'm so excited about this. Because it's the first virtual event that we've ever run instead of just being pot of canine speaking in someone else's event i'm actually really enjoying the process over the past few months. We've also been crowd sourcing. Some of the topics that at listeners students want to know most about so if you go to. www dot your ceo mentor dot com forward slash stats s. t. eighty s. You can register your interest for the event and tell us what topics that you want us to cover it because we're still kind of finessing the agenda at the moment the full met will start with a cane for mahdi and this is a brand new one. He's never done this one before. And then monte guilty three intensive masterclasses with a whole bunch of q. and a. So that you can answer attendee. Questions live and we've got some really special guests line out for some short no bullshit interviews which is really exciting. So there's a lot going on. It's completely free guys. It's a gift to you for sharing the podcast with your network for rating and subscribing and writing awesome reviews and just helping us to get to that one million downloads point so. I really hope that you'll be able to join us. Jump onto the white list at. You'll see mentor dot com forward slash stats because we into limit numbers Get you tamed. To join and make sure you show up alive because we won't be making any of the replays available afterwards so make sure you don't miss out all right. We should probably get cracking on these episode. Money sounds good him. What questions do you doug yet for me this week. All right so the first one's from j. He sent me this question on facebook. Can you please episode on being successful but also making time for family. How do you get the balance right and still be successful and still bring up. Good kids will clear anything about that. I failed on the bring up would keep speed right up now. Let's let's be. Let's start with the most fundamental principle. You have to decide for yourself. Very deliberately and explicitly. What sort of life it is that you actually want to have an another sounds a little bit higher level but you've got to look at which priorities are what is it. It's really important to you. what you'll live ammunition fuel career and what is it going to bring you that real deep satisfaction now. Ideally you'd like to early enough to make some choices that meet your higher order drives when you think about your career so you might choose an industry or a company for example. It's luckily to give you the right balance. I always love using the example of auburn. Glenn beck who was the ceo of glencore on the east dili's but often has a reputation for being an extremely hard worker to the exclusion of everything else. And that's the couch. Glencore heads an often was famously quoted. Many years ago saying if you're looking for work life balance do not come and work year. We expect to be your off and you will become very rich but don't come here for work life balance now just sort of left the clarity. That comes with that because it's unequivocal and you know what you're getting yourself into But not even going to be like that right. And and certainly. That's not a job that would be right for me. But let's say you very very creative focused and you do have a good solid dose of ambition. So you're going to be motivated and driven to progress and this is where it can become a little tricky because you can feel as though in one area of your life. you're always robbing from other areas but you don't know how to change it so if you're anything the rest of us you tell yourself a few little laws to make it all seem okay. So for example. I'm working this hard. Because of family everything i do i do for them now. In some cases that may be true but in most cases. It's a rationalization. When i'm one hundred honest with myself all the time energy skill that i've invested in my career over the years was for me pure and simple it was to achieve my goals and my ambition so of course where he knows the benefits my family. But that wasn't my main driver so i guess the big question is how did that feel from uranium yet. We've had this chat before. And i honestly don't remember being a kid and feeling as though i wasn't prioritized which is probably pretty interesting. Now that i'm older and i'm stan how much time you spend no work. I think the one thing that you did really well was that when you were with us. You're one hundred percent with us. There wasn't social media to distract you or fifty notifications popping up on your phone with emails. Every alison i guess. It was probably a bit of a different world when i was growing up your parents as days. They have a lot more destructions. And i know that's something i'm really conscious on with. Gals is making sure that went on with them. I have one find one hand on my fine waiting for the next ping to come up. But look i think he did pretty well money. Thanks for that is a good school. It wanting that works for me really will was to sit some fairly immovable boundaries. So for me no matter what was going on in my day or my week. If i was in my own city i would be home for dinner every not so i plan to get home by bet. Six thirty iconic with family and sit down and give full attention to the family meal. When you're young you remember that every not like poor debate and ridge was story now. The time commitment to these things was minimal. It was only two hours per day and that let me twenty two hours to do everything else. But it was the discipline of protecting those two hours. It was important because that gave me the opportunity to spend real quality. Time with the people that mattered. Most to me. All right so. I can see how that worked for you. Mighty protecting those two hours for the family but many people can't limit their commitment to hours. I'm thinking in particular of working mothers. Do you have any thoughts on that year. Look the situation can be much much tougher depending on the environment. You work in you personal circumstances and i got to try and work that out and it will definitely impact the amount and concentration that you can put into your career at any point time but we know the commitments. Come and go. The there are there are tons of commitments are really really heavy that again. A constraint how much putting into create and tons when they're a little bit lighter for example when the kids might be a little bit older so realizing it's a point in time but we should never diminish the fact that it is a really difficult to get across and it can really help you create for period of years so the answers for that. Otherwise i'd be making a god zillion dollars doing something else so really just having that patience of you know when things get quite tough quite busy being patient to work your way through that. And i don't wanna say put your career on the backburner just accept that things might be going a little bit slow but still keeping that main goal in mind as you move forward. Yeah absolutely and there's been thompson. Mockery with things have gone slow. But you've got to keep your on the long game. Know it's not you create an unfold in eighteen months at unfolds over thirty years so having that long term view and getting really really focused on that and knowing that you hitting in the wrong direction even choosing at any particular point in time to take a slightly backward position. Because you've got other things on so for me look. I found some were really well with tailoring roles to my constraints. I always took roles that minimized travel and that was one of the things that i just did so instead of being like a lot of my colleagues who would often spin off no one hundred fifty days or more traveling each year. I would probably do no more than fifty on average now. I don't know if this placed any serious limitations on the speed of migros but that was a trade off. I was entirely comfortable to make. And i didn't regret second once that boundary was sit. Anyone around me understood it. it's surprisingly easy to manage. And what was the other thing health. Which it's no wonder that i just forgot about for signal because i tend to forget about that during my career. I worked at pretty early on the when it came to exercise if i didn't do it before six. Am it wouldn't happen at all. Yes so look this discipline of getting up pretty early every morning. Getting some exercise in first thing. Now i've not been strong with this discipline over my career. As i have with the family tom. Not but when. I'm really on my game. I'm not before quarter to five in the morning. I'm doing something for my health and wellbeing before the day gets going in earnest and in the old days it was running fifteen kilometers through mountain trails. These days it's walking and pilates and gulf much more civilized pursuits but. I was much more likely not to be disciplined around this because it was just for me. Where's the family. Tom was preserving the relationships with the most important people in my life in my experience we really run into trouble when we do. Two things or rather. Don't do two things when we don't know how to say no. That causes problems for us. Because we don't say no to our boss and we don't keep those boundaries firmly in place or the second thing is when we aren't strong enough to maintain the disciplines. We've said because he is a discipline. You've got to work at it. It's discipline and it's a habit like many other things. Yeah and i can recommend james cleese book. Tell me cabinets. I really love that for implementing disciplines so mighty. that's managing the downside risks but. What are the upside benefits of being a career driven parent where children are concerned. I know that having you as told me to have a really strong work ethic and was important. And i probably i think in hindsight i learned a lot about business and work darlie because you spoke about a lot of the things that are happening work really openly. Either with us or around us. It gave me a really good idea of what to expect if i wanted to be successful and looking back i think i always thought that you with the say. Even when you weren't that's always the ceo my head look you're right. It's not all doom and gloom and and children learn through osmosis and they get to see some pretty positive behaviors. If you're doing this the right way so they do get to see your work ethic. They get to see resilience and ambition. And i'm talking about you. Know ambition for money and promotions. I'm talking about the ambition to do bigger things to be better. They see you as a leader of other people not a follower and they can see making impact on the world not just cranking the handle. But i think the biggest thing that that is limbaugh most by the kids is the intern locks of control rather than the external lots of control. So in other words. I can shape my environment. And that's what i'm doing. I am not a victim. I'm making decisions and taking conscious action. And i'm moving away or choose to move forward on not waiting for someone else to make my life come true for me so i think that's a really really important learning. I think you and leave. You both have that but ultimately in raising kids my views. The object of the exercise isn't protect them from las challenges but to hold them to learn how to deal with them so to say that both my daughters have turned themselves into caring strong capable and resilient individuals money. That's okay well. i think it's true. Isn't it yeah. I'd say so. I think we're we're definitely both very resilient and hopefully caring strong and capable look mighty my final commentary on this. I think you did a really good job of balancing work and home life and it's not easy going through it myself now sometimes when i'm really nailing it and i'm like yup i've got everything under control and then there are other times where go my life is complete miss so i think rose you did pretty well. I don't think that your work was per ties over us. I don't feel that way. So i'll give you an eight out of ten for that one monte excellence ivan perfection. Thanks for that this data. Tim thank you all right. Let's crack onto our second question. This one is a great one. I felt like it was. It had a small vibe to question one. This from one of lady should be on the theory students angus. can you. Please give me some guidance on the concept of recruiting to freedom in. Yes so this is a really interesting concept. I hadn't heard this expression before. But i do like it and anger just like in my early career is a professional. It leader now. Humongous means is. You've got to get the right people in place through recruitment to build rod capability so that you aren't constantly in the foreign lot and the important thing here is to recognize the outcome that we're up so focused just on that object of the exercise freeing up some time that you can do other stuff and reallocated elsewhere family friends hobbies health these more to this than just the hiring process now at all goes way back to the basic strategy for your organization or tain. What are the most important things you should be doing. You've got to only focus on those things. The things that deliver the biggest leaks value and stop all the other sheet now. This is really hard. I took clients all the time. The most difficult thing you can do in your organization is to stop the stuff that doesn't add value but if you can scope down the work programme you much more likely to deliver value for a whole range of reasons the second step once you know what the value is is what capacity you need to deliver it. If you're serious you break any of those folks constraints that normally hold lead us back. What do you mean by that money. What's an example of a false constraint. We'll look at a constraint that you put in your mind and you don't consider that you can change it because you think that it's a given and most things aren't given so one of the classics is the people you have in your team now. It doesn't matter whether you have a team of three or three hundred thousand. The principle is exactly the same we feel so we have to make the most from what we've got right now and we don't necessarily think to shape out teams to what we really need now. We may need completely different skills. Configurations to align the capability of the team to the strategic venue drives of the company to deliver on that work program. But that's hard rod which is why said if you're serious you'll do that mostly just won't do it. It's really really hard to say. Here's the people i've gotten now. But they might not be. The people are are dealing. Need to deliver what i have to deliver but i guess the question is. How much do you want to recruit to freedom. Yes i can say this shaping up. We've got less work. Lloyd by getting some simplicity and focus into our delivery program which we talk about all the time then. We work out what skills and capabilities we needed now tame and then we go and hide them. Is that ryan almost him. Look we need fund the people and that's not easy. Which is wearing this question comes in. Now we'll be constrained by a few things in terms of people quality. We're not working for google with is accused of the distant product. Talent on the planet lined up outside outdoor big to join us. We did a podcast episode. Really early on. I think it was so twelve the war for talent. So you've got to be realistic about your quality of person. You can hire but having said that you've got to be highly selective and very ambitious about who you're going to recruit so you don't want to feel any role with just a warm body. You'll have lots of time to regret that if you do only bring people on who can genuinely make a difference. Yeah obviously within the pool that you can get. But the recruiting isn't the end of either. Let's say you mentioned. Hire exactly the right person and you feel as though freedom is within your grasp then you have the potential to get a lot of your time back to reallocate into something else but the next big step and we're latest full down is that then you have to let go and you know. I say mentally disturbing concept of letting go of control when they delegate work to the people so they become really ineffective they micromanaged. Thomas sucked up in work. That should be done by people who work for them. Who aren't doing their jobs but often this is a lot easier than leading isn't it. Yes my favorite concept working at level. It's definitely worth going back to. Episode seven on is an. I'll put that episode in china. It said that you can get really easily monte. Can you give us a quick rundown on working at level before we wind this episode of your. So so we're looking live on your to do a certain job. And the people below you and above your patriotair jobs and every layer has a unique purpose now. You shouldn't be doing the work of the people below you. Be leading them to do. They work what we do. A lot of the time is when someone below is can't do their job. We step in and do it for them. We correct them we. We redo them stakes. We make decisions for them when they cut making themselves. We do a whole lot of things that aren't l. job and that just sucks away a lot of time on and as long as we're doing the job of the person level below us. Guess what we're not doing our own so as a leader. You really have two choices. You have to late your people to do the job that they're paid to do if they choose not to meet that standard. You need to put someone in that role who will make the standard otherwise. You're going to end up constantly dipping down so quite often. We'll see a situation where you do everything everything you need to do to get to work program in place the most value you get the right capability in place delivered and then you spoil it all because you can't get out of your own white spot on montlake right tips across those two questions. I'm just going to summarize them really quickly because we went through so much number one workout. What's important to you number to make the choices that guy's priorities so puts some boundaries in place that support them number three only do things matter the most so coming back to our old friend. Simplicity focus number four. Get the right people on your team to deliver and have the discipline to stand back and laid rather than to step in and over function fields. People there's a reason why module four of leadership on the theory is cold work at level. It's because i mean ladies have problems with this. I it's a really really important one to look into a great summary and look i reckon. That's a rep Or out to that brings us the end of episode one hundred and eighteen. Thanks so much for joining us and remember at your ceo mental a purposes to improve the quality of leaders globally. So please share this with your network because this is how we reach even more leaders and guys have caused you know. I'm gonna say it if you haven't subscribe to the podcast. Alright at all left to serve you. Please take a minute now to do it. It would mean so much to us. Thanks for having me on the podcast again. Monty cried chad. Could have you got to do more of these. I think they go really will agree. I'll look forward to next week's episode change fatigue. Is it a thing until lynn are. Now you take every opportunity you can to be a no bullshit leader.
The Bees Go To California (Classic)
"Two thousand twenty was the year when all of started to pay closer attention to logistics shortages of everything from n ninety five masks to toilet paper. Bicycle's even weird pasta with a hole in the middle made it clear that behind the products of everyday life are these complex supply chains today. We're revisiting an episode about the mind boggling logistics behind pollinating fruit and nut trees. The story originally ran in two thousand. Seventeen hope you like it. This is planet many from npr. Imagine you are a be a honeybee and every morning you wake up in the greatest place on earth hawaii ohio you're be you are waking up in rural louisiana you got your cypress trees you got your flowering plants and lagoons you. You see your blue vein. You see your buckwheat vine you see your tallow trees. That is the voice of your boss west card. Well technically you work for the queen. Bee and she works for west but the job you have is pretty kush. You're collecting nectar making honey west. Takes your honey cells your honey. You're like a team. It's idyllic but in february one night while you are sleeping you hear it a forklift coming for your high. And all the surrounding highs and we start picking them up and moving them around and setting them on new palettes and we Then come in with the machines and stack them onto the truck and the journey begins the journey. The truck will be taking you and fifteen million of your closest friends on a road trip. Louisiana texas new mexico arizona and california two thousand miles to the almond fields in the central valley. Where you will have a new job. Pollinating the flower making little almond babies. What would happen if you didn't ship to california if anybody didn't shit bees than you would see a lot of empty shelves in the grocery stores no blueberries no almonds No strawberries no squash. No pumpkins no. The list goes on no oranges no citrus so the mission these bees are on is to prevent a fruit and nut apocalypse correct. You are louisiana. Be and you are about to save the world feed it anyway. Hello and welcome to planet money. I'm stacey vanik. Smith robert smith right now. Almost every single commercial be in. The united states of america is on the way to the almond fields of california. The size of this mass migration is stunning in the span of a few weeks. Thirty billion fees will be shipped from around the country to the central valley. They will pollinate enough flowers to create seven hundred billion today on the show. We're going to follow the beekeepers. This pull off a logistical miracle. The birds the bees and the flowers and the trees cannot do it alone up. We are going to need a lot of trucks. This message comes from. Npr sponsor. teluk tell the doc is here for you. With twenty four seven access to board certified doctors who can diagnose and treat non emergency conditions like sinus infections allergy is rashes and more and tell the docs doctors can wear authorized in prescription to be filled at the pharmacy of your choice. Download the app today or visit tele doc dot com slash npr. The world was shocked when pro-trump extremists stormed and seized the us capital throughout this tumultuous era. The npr politics. Podcast has been there every day explaining and making sense of the news. We'll be doing that through the final days of the trump administration as we all. Try to understand how this moment happened. And what will come next. This whole be migration was something we did not know about until we got an email from a listener buck markson. He told us that around. Valentine's day if you drive through central california. The highways are filled with honeybees trucks full of hungry angry honeybees billions of them being driven from all corners of the country converging on the almond fields. Which when you picture it just seems insane and we nominated you robert smith to go check this out. Put on a b. suit. The whole journey started at least for me and my bs in bunk louisiana. If you picture louisiana as a boot monkeys right at the ankle bone to get there you drive along the by you flat land and then all the sudden you see what looks like a thousand silver file cabinets just sitting out in the field. These are the beehives. Now they told me to get to the farm right at sunset when the sky turns deep purple. You only want to move bees at night. Well bees always naturally return to the hive after sundown. You tried to move them before. Sundown they wouldn't be able to find their hut. Yes you'd leave a bunch of them here lost with nowhere to go the beekeeper west card. He doesn't bother to wear a suit most of the time he has this stance that almost dares the beast to sting him. He has his elbows out his feet wide. Apart you can actually see a few bees crawling in his long goatee actually. I'd rather them get cotton beard. Then staying in the chin. So that's why i have a beard. You've been stung a lot. I'm gonna step back one more because this one's actually hitting the back of my head. Let's go back here. West shows me around. They extract honey in a shed out in the back. The be wrangler is all live in a double wide trailer by the road and hives. Zipping by on forklifts now only bee colonies with a thick blanket of bees. Get picked for the california trip. They want the strongest wants so west prize opened the tops. One by one to check so you can see that high has very few bees. Well it looks like there's hundreds but well. Hundreds is not very many so what happened is high. That's a good question. These days in the business it is just a fact of life. Bees are dying at a higher rate than they used to. So west raises two hives for everyone of this ship out. You can have thousands of hives lined up. That just are not ready to go to california. they're weak or dead or just not surviving for An unknown reasons. And that's happened to you. Oh sure. I think it's happened every beekeeper at some point or another but this year is a good year. They have a thousand hives. Just here tonight. Rap stacked ready to go the be wrangler. Add some yellow beef food in the top. That's kind of a sack lunch for the three day trip and then is fully dark the tractor trailer pulls up. They've sent twenty four trucks out to california just in the last couple of weeks. Hundreds of other farms are doing this. Same thing from all around the country from florida from south carolina from oregon from the dakotas. And when i was talking to his brother glen. He's in charge of this whole loading process. He said listen. This is what beekeepers have done forever. I mean they've been moving bees around the country for decades and you know in the eighteen. Hundreds they were moving on the back of horses. So it's it's a natural kind of migratory thing for the bees. There's nothing natural about this. What's not natural about it. It's the fact that you're putting a thousand hives onto the back of a truck and sunny to california tonight. But it's the there to perform a natural functional. We've we've made that function more efficient way to put it. Yeah every almond you have ever eaten required a be a single be a b. to move the pollen from flower of one tree to the flower of different entry and there are enough bees in california to pollinate a small on crop but over the last few decades almonds have just taken off on milk almond butter low carb almond snack packs in glencore guy says the almond growers. The saw this whole thing coming. Twenty years ago they started planning acres and acres and acres of almonds anticipating demand increase in demand as those acres. Come into as they age. They require more beehives. More beehives than the beekeepers of california could possibly provide wesley. Glenn told me that when their grandfather started the business back in massachusetts of course he kept the bees close to the crops. That's what you did back then. But after the interstate highway system was built in beat sense to grow bees where it was warm and there are lots of flowering plants. It made sense to move the whole operation to louisiana. And then all you need. It was a lot of trucks so it turns out. You can't put fifty million bees on the back of a truck in about twenty minutes. It's amazing they staple this huge net over the hives and you can see the bees inside pushing to get out the lucky driver who gets to babysit these bad boys. All the way to fireball california kermit jones already in this far ball. Now you get covid says the hardest part of driving bees is the schedule because if you stop the truck during the day while it is laid out the bees will try to escape and they're wiley. They can sort of get through the nets so you have to keep the truck moving. You have to keep the hive sort of vibrating to calm them down. So kermit drives for eleven hours straight. You know you you start early in the morning and make sure you got your few and everything and then you know you drive to lead. Calm down a little bit. Need to go to the bathroom on. Keep a couple of cups you know i was gonna ask the ride with you. Maybe not tomorrow night. These bs will be sleeping somewhere to truck. Stop in amarillo. Texas kingman arizona. Is there stopped the next night then too. Long haul to the california border and an orchard in firebomb and of course there is a whole other side to this story because in california there is a fierce competition going on to get the best bees. I mean the entire success of an almond crop can really depend on the bees that are trucked in from halfway across the country so people in the central valley have been preparing for months for this. Big be convergence i think of it is Convention like be con- two thousand seventeen. Yes it's like spring break for bees spread reich. It's cobb oh good for bees. So i flew into san francisco a day ahead of the beasts. I drove over the hills to the central valley. And i was told i really need to talk to the person who knows everything and everyone the broker. She's easy to spot because she is the one in the field with the pink be suit. It's a pale pink so the bees do like it not that. I'm fashiony step. But i just couldn't do the white and so this way people will know it's me these calls runs the pollination connection. She hooks up beekeepers with almond growers. In fact she's the one making the deals for our louisiana bs on the way. Denise headed pink suit setup so she can take cell phone calls on a headset from inside the suit and people as i talked to her. They never stopped calling their the panicked. Be drivers stopped at the california state. Border inspections a desperate almond growers. So i've gotten pictures today of flooded orchards. i've got a forklift stuck this morning and my phone's ringing again. Let's see that is someone is calling looking for some bees so i need to give them a call and find out what it is i can do for them. The almond flour is about to bloom so this is like crunch time and it's funny to watch because as denise chats on the phone starts to like pry open the different beehives in front of her because part of her job is also checking to make sure that the beast survived the trip creating. Oh yeah we're kind of being swarmed a little bit here but that's good that means they're super yes. Yes and they've been here for a few days. So i'm pleasantly surprised with the activity. Wow to check these days because nothing is normal in beekeeping anymore. There's this problem with the bees called colony collapse disorder. They i noticed it in two thousand six and then suddenly sometimes overnight like a hive would just die. He would empty out. The bees would be gone and no one knew why while i was out with denise shane ross who is one of our helpers. He served tending to the bees in this field. He says that he thinks that it is no one. 'cause his pet theory is that it is all of them. It's the pesticides herbicides. The radio waves changing agriculture loss of habitat and and be forage leading to poor nutrition. B.'s starved to death in some areas. There's just nothing for them to work. It's it's death by a thousand cuts because it's like a mystery. It creates us real sense of distrust from beekeepers like love their hives. They obviously make a living off their hives and they drop them off in these fields and they're constantly asking. We'll wait a minute are they. Being sprayed with pesticides are the farmers taking care of the bees. Well and i imagine this is stressful for the almond growers to right. I mean they might be worried that there aren't going to be bees anymore or that there aren't going to be enough bees and the price might go way up. Yeah and it has a decade ago. You could rent a high for a month for about fifty bucks now. It costs one hundred and eighty five dollars for a single hive for the season. And that can start to add up this truck of bees that we're following his going to a single orchard and the rental charges for all the bees comes around one hundred thousand dollars but so far at least almond growers. Don't have much choice but to pay the guys so this is this is the tree is an entry does have technical name. You just call it on entry. There's two varieties Padres this kyle robertson. He has an almond grower in tracy. California and over the next month these trees will be pollinated by bees from louisiana west cards right now. The two kinds of trees the boots and the padres looked totally baron but by next week this orchard will be transformed with flowers so beautiful. That kyle took his engagement photos here. Here's one picture here. Whoa it looks like the cherry blossoms in in washington dc it's gorgeous wight pedals everywhere. Then you'll see white pedals on the ground and almost looks like snow. Snow covered tree with a little bit of snow desks on the ground. The flowers are small about the size of a silver dollar and their delicate and the be has to carry the pollen from the butte to the padre and the padres to the butte deposit. Just perfectly to make a single all right so series of a series of dumb question. Go for it. Why can't you just hire people to take the pollen from one tree and move it to the other tree. You can just gonna take you forever to do it. Why not just get a plane filled with pollen and you could just synthetic drugs. The synthetic spin looked at but again it's it hasn't shown to be any better than than natural pollination bees one just develop a tree the doesn't need to be dependent. You do their self pollinating trees that were there is called a variety called independence in california. That's more popular one you don't necessarily need beast pollinated and the self pollinating tree is slowly catching on but the are not exactly what buyers are expecting. They taste different different. That does not sound like a ringing endorsement. Different is good. I kept trying to talk to kyle. About how strange this whole be shipping situation is like i try and all these theories out on him you know. Is this the end of nature or maybe just reached the limit of the amount of almond trees. You can possibly plant. But he says like i am talking like a news reporter from new york city. I don't understand the way nature works. You think bear and bear in the wild collecting a beehive off the top of the tree and knocking it down to defeat the honey out of it. That's why i think people's image of it almost. That's exactly how imagine bees that they are. This symbol of wild rolled human lists nature. And so that's what feels weird when you put them on a truck and drive two thousand miles. I can understand that. I can understand why someone feels that way but then he says like remember these honey. Bees were not native to north america. They were brought over from europe. And the almond trees. They didn't originally grow here. They came from the middle east came from spain. There's nothing wild or humanly about any part of the almond situation. I mean it's food. It's produced on a mass scale for the lowest cost possible and it really is massive as i drive around the central valley. I can dozens and dozens of miles and see nothing but almond trees almond tree after almond tree after almond tree. After the break. I get to watch the bees. Get to work this message comes from. Npr sponsor bank of america. You finally decided to learn how to ice skate. So you ordered the essentials. Every ice skater needs a pair of blades. A new helmet and a good set of kneepads. And you used your bank of america. Cash rewards credit card choosing to earn three percent cashback on online shopping rewards that you put towards the cost of an essential piece of posts skating recovery. A heating pad visit bank of america dot com slash more rewarding to apply now copyright twenty twenty bank of america corporation with civil unrest the pandemic and the economic crisis. You want to know what's happening right when you wake up and that's why there is up. I the news you need about ten minutes from. Npr news. listen every day. I'm driving my rental car. Just amazed at the scale of the almond orchards. And then i get the call. I'm just coming into fire boston. Jose go it's west card. The louisiana bees have arrived. He gives me directions to an orchard and says me at sunset. And i might want to wear a suit for this one. But we're gonna wanna walk farther back here as we get ready to pull the screens sit. This is the moment they are pulling the next off of the hives. Remember the bees have not been able to fly for three days when the nets come down they start to squirrel around the truck. It is like a funnel cloud that rises above the field that gets sort of larger and larger. I know you love them but it kind of feels like we're in a horror film right now. Yeah there's a lot here that sounds terrifying robert. It was actually little terrified even in abusive and what they're doing is when a b. is in a new place i was told They are circling trying to memorize the new landscape. They're trying to figure out where their hive is. And what the hell's going on because they just woke up in california. Are you sure they're not like trying to figure out who did this to them and punish them terribly. You know i asked about that. Do they hate you. i think they like it. We bring them to places they bring all kinds of fun things with dad's always say to the kids and the kids hate it. But i mean as far as the bees are concerned you know right. Now they're probably not liking it too much because we've got another three or four days before the bloom starts but once the bloom is in wants. The bloom is off then. It's pretty much all you can eat buffet for the next three or four weeks but stacey after the bloom is over in a month there will not be a flower or food source to be found in miles. And that's really the other reason why you can't just keep all of the thirty billion bees in california for next year. They're already here but the bees would starve once. The almond flour is go away so west has to bring them back to louisiana like yes to do the whole process in reverse the whole process putting the food in loading them on the truck putting the net on bringing the back on the interstate three days and then they go for the apple season. In new york. State blueberries and main cranberries in cape cod. Join the pollination service see the world. I know it seems sweet i mean. There is a small caveat. cosby's only survive a month. So basically the highest richard louisiana are filled with mostly newbies. I mean i guess. Technically born in california bees their generations that are born on the road in the northeast. So i understand why this is happening but it still seems crazy to me and you know if you push the beekeepers hard enough. They will say yes. It is a little crazy. They just like literally could not come up with a better way to do this if you could move the trees. I'm sure they would move the trees to the bees but the do that right. Well we've always hoped that someday we could just train the bees to fly themselves to wherever they need to go. But we haven't been able to figure that out yet that would be. That would be something training to fly to california. I think he's joking. But after seeing the logistics that i saw i'm not entirely sure i never got to see the full bloom the full extent of all the flowers in the central valley. And so if you happen to be driving through Take a picture. I would love to see you can email it to us. Planet money at npr dot org or send it to us on facebook or twitter. And we're also tiktok. Check us out at planet money. This episode was produced by elizabeth. Cool loss piles want to thank the entire card family. And there are many companies they have merrimack valley apiaries west coast pollination. And if you wanted to try the honey by bees episode. it's called crystals hunting. I'm stacey vanik. Smith and robert smith. This is npr. Thanks for listening. There is one last thing that i had to see before i left the scene I had to see the actual pollination the deed the gone wild. And as i was driving i spotted it on the side of the road. There was one almond tree. That was already in bloom. And i got into my car. Oh look look look happy right in it right now right now look. I don't know if you can hear it. But a be is basically hugging the damon and wiggling around. And that's it.
UK competition watchdog deals blow to retail mega-merger
"This. Marketplace podcast is brought to you by the university of Florida Warrington college of business transform your future with an MBA from one of America's top ten universities. Learn more at Warrington dot ufl dot EDU slash NBA and by brother Inc fest -ment tank printers. It's happened to all of us right before an important presentation. The printer runs out of ink brother Inc. Vestment tank printers help put a stop to this. And can literally change the way you Inc. Your choice of up to one or two years of ink included in box helps eliminate the expense and hassle of frequently buying and replacing in cartridges. Learn more at change the way you Inc dot com. A day after WalMart reported strong holiday quarter earnings Britain's competition. Watch jug throws doubt on the retailers. UK grocery merger live from London. This is the marketplace morning report from the BBC World Service. I'm Victoria, Craig filling in for anew on good morning the competition markets. Authorities said today a tie up between UK grocery store chain Sainsbury's and WalMart owned Asda could lead to higher prices and less choice for consumers here adding insult to injury for the nearly twenty billion dollar merger. The CNA says it'll be difficult for the two chains to address those concerns Sainsbury's boss this morning, called the fundamentally flawed and outrageous. So where does WalMart go from here? Thomas Barrington is retail analyst at global data offerings pool inside of this isn't the defensive end of the story Sainsbury's, now's to both Alie situating statement saying that they were booby fighting this, and they will be pursuing the modus still. It's quite an unusual move from Samay because they really have hit them hawed and set it's not just the supermarkets. It's the few when online as well, it really is a blow. Sainsbury's an answer. From almost perspective. It's annoyance Greeley more than like a threatening situation because has the represents small amounts of WalMart's business. So the merger was meant to be away for WalMart to retreat from the British retail market where it struggled to compete with other grocery giants if this deal does fail. What does it mean for the company, and what could a plan b for WalMart? Look like, it's very difficult to see a very clear plan bay for because if this is something business, they still get rid of which it seems like it would be they already any retailers that would be willing to take on business as a whole of that song is I mean Sainsbury's was one of the few that could but any of the gross couldn't because they'd be blocked by the Samay likely as much as scientists would be on their own. Any other businesses could pay that much? I'm willing to take on that much space having set that as the has actually before we call well against other UK, grocery rejoins recently. It's just not performing as well as the rest of WalMart's operations ramp up its focus in the US amid growing competition with Amazon and entry into high growth. With markets like India, at least until the most recent quarter in the US. It's been struggling on. Both those friends does it need to shift strategy again. Or does it just need to give these efforts more time? It's been a little sad about how I'm going to become the king of retail, and that was through early investment and online on ammonium on which they now dominate the OMO half them, very, well, they shift Rushdie eighteen months to focus on his home. US market is starting to pay off that was seen in the law school to sales. Look good in the US. But it means that they can't really fight the battle to fronts and has to sacrifice some of his international and expansion. I'll lost that to pull that developments in his own country. Thomas Brandt in there. Let's do the numbers. Sainsburys shares dropped more than fifteen percent at the open in London. After the that's the regulator here released those preliminary findings. Meanwhile, European stocks are following Asia. Markets higher amid continued optimism on a deal between the US and China on its streets bath mining giant Glencore announced today, it'll cap global coal production going forward, the BBC swooping Chan reports grand coups. To cap coal production is the clear sign yet that the natural resources industry is using to invest a pressure on climate change. In a surprise announcement. The commodities giant largely ruled out any further expansion saying it would cut production at current levels. Glenn Coors, the world's top coal exposure. And one of the biggest produces outside of China, however pressure from climate action groups, including the pow food church of England has played an influential role in taking the pirates climate change agreement to limit global warming to below two degrees directly to glencoe the company stopped short of pulling out of cooperation together, the division remains lucrative contributing to close to a third of its underlying earnings in the posture in London, I'm the BBC seeping Chan for marketplace. Britain's prime minister heads to Brussels again today to try and seek concessions on her Brexit deal in order to get it through parliament while there are many sticking points. The future of UK fishing has been at the heart of the debate. The BBC is Sean farrington has more from Britain's biggest fishing port. They so busy morning because there's been full thousand boxes of whitefish of squid and row. A lot of people won't fish from UK sees the big control Versi around our relationship with the European Union. And how it plays after Brexit because the common fisheries policy is a way of divvying up who can fish in those seas, and who gets to sell fish onwards lighter. I'm joined with a couple of people price an ally. Bryce, you're from the university of you when you look at what's going on impacts ahead and the issues with the breakfast in the minute hedge of these two things tally. There's a lot of fish here. And there's a huge diversity as well. But actually most of this is going overseas and most of what British public eight is actually imported from other countries outside Europe. And as a result was trading relationships, a sewing potent, and that's what we're trying to balance up through Brexit. The industry wants, you know, more control more coaches for catching fish, but I also. I want to continue to trade freely and that's a difficult balancing act to achieve an ally. White you're from clydes fishing association issue, you still going to get the fish selling around Europe have does that tally with the argument of we want a bigger quota? Of course. More stops coming back in finished lifting quota, so that the men can fish more seasonally and fish diffent stolp Savell, but it's a difficult one. When you say a morning like this morning, Bryce is busy, but lots of people might say fishing is the whole UK economies at tiny tiny proportion. Why should we be worrying so much about its future? It is small in terms of GDP. But I think it has a bigger value than that, you know, Britain is an island nation, and it has a long history of fishing. And it's particularly important in some of the more remote parts of the coast fishing is is one of the few opportunities for jobs, Bryce analyzer. Thank you very much. Both the noise continues to head fish market as the last of the fish gets auctioned away. This will still be here come June. But what rules that will be trading under. We still don't quite know, Sean, Fanton reporting there finally can't get enough emojis next month in Australia, three hundred fifty bucks lets you add one to your license plate hard. Is anyone in London? I'm Victoria, Craig with the marketplace morning report from. The BBC World Service. This marketplace podcast is brought to you by. Indeed, are you hiring with? Indeed, you can post a job in minutes set up screener questions than zero in on your shortlist of qualified candidates using an online dashboard get started today at indeed dot com slash marketplace. That's indeed dot com slash marketplace.
Warner Music, Cisco, Casinos And Cars
"Welcome to seeking Alpha stocks to watch Wall Street breakfasts weekend edition our news teams weekend preview of upcoming. Ipo's earnings reports conference presentations investor days FDA decisions Barron's mentions and other key events that could impact stocks to set you up for the week ahead in the markets. Subscribe to this podcast on Apple podcast. Google podcasts spotify. Stitcher good morning today is Sunday may thirty first. I'm your host Rena sure bill. We begin with a breakdown of the week ahead. From seeking Alpha News team. The week ahead will see even more parts of the. Us economy opened back up and should include. Street-level reports retail activity on the corporate. Front Warner. Music is going public and the conference calendar heats up economic reports include updates on construction spending service. Pm Factory Orders International Trade and the headliner may jobs report at the end of the week. Economist forecast the unemployment rate will land right around. Twenty percent for May an average weekly hours won't move from April's levels tech stocks could have a volatile week as rising tensions between Washington and Beijing create supply chain and revenue headwinds in earnings news. It's a light calendar this week. Dick Sporting goods tiffany crowd strike and zoom video report on June. Second American Eagle outfitters Campbell. Soup Canada Goose and g three apparel report on the third broadcom SIENNA DOCU SIGN GAP. Mongo. Db and Slack Report on June fourth and Candy Technologies reports June fifth the IPO market comes roaring back to life with Warner Music Group. Set to price. It's offering on June second. The former Warner brothers property set range of between twenty three and twenty six dollars for seventy million Class A shares with an implied valuation. Thirteen point three billion at the top end werner stable of musicians include Ed Sheeran and Bruno. Mars a smaller. Ipo is also due to be priced next week with pliant therapeutics coming to the market with six million shares in an expected range of between fourteen and sixteen dollars also in the IPO universe. The quiet periods expire on June. First and I al Pharma on June second. While the share lock-up period expires for automotive on June second regenerate pharmaceuticals will share. Updates from its clinical oncology portfolio on an investor webcast scheduled for June as part of the twenty twenty. American Society of Clinical Oncology annual meeting. Madonna is hosting a virtual science day event on June second with feature presentations from the company's chief scientific officer on the newest advances. Ligi has virtual investor day scheduled for June third to discuss business strategy market trends growth drivers and a summary of the company's operations and financial results. Cisco WILL BE HOLDING ITS CISCO LIVE event from June second through the third in a virtual format. Ceo Chuck Robbins and other top executives will cover the company's role and opportunities during the pandemic as well as a future innovation. That CISCO is exploring on the lighter side. Dave Matthews will give an acoustic performance and rock and Roll Hall of Famer. Joan Jett will give an exclusive interview to the Cisco Crowd Cisco turned heads last week by acquiring thousand is J. P. Morgan was positive on the deal saying the acquisition should further CISCO's focus on positioning itself for emerging technology requirements of a hybrid cloud environment with software capabilities and the heels of the conference. Another big week has in store for the healthcare sector late breaking abstracts for the Virtual Congress of European Hematology Association will be released on June. First for Abbey's Van Claxton and Sophie Stark Lisa. Pd UFA dates arrive for Merck's Riccar Barillot Menlo Therapeutics. Fm X one. Three and REP lagoons R. P. One and Niveau lob presentations at the virtual congress on June third include updates. I'm GlaxoSmithKline's Ben List. Data and Nectar Therapeutics. Eli Lilly Nectar. Three five eight data from a phase one B trial as for business updates. This Week Costco is due to post a May sales update on June third. Tech Resources is holding a conference call on June third to discuss. It's updated Sustainability Strategy and Face Bang Group. Ceo David Gambler will be interviewed and Fubo TV on June fifth. Perhaps the most interesting update next week could be from Sony. The company is video game. Division plans to hold an event on June fourth to show off new titles for the upcoming playstation five console after just confirming that the launch is still on for the fall. Sony's event will also turn to focus on Microsoft. The Seattle giant isn't asleep at the switch with a blog post out yesterday calling the xbox series x the most powerful incompatible next gen console with amd's latest Zen to and our D. N. A. Two architectures under the hood the Goldman Sachs Travel and leisure conference will feature virtual presentations from wyndham destinations choice hotels International Marriott international and Mary applications worldwide investors. Already know that April and May were disastrous months for the travel industry but booking transfer June July August will be a key focus. Nevada operators can open their doors again on June fourth while most casino operators are setting a moderate pace with openings reports from other states. Give reason to believe that caesars entertainment. Mgm Resorts Boyd Gaming. Wynn Resorts Las Vegas Ends Full House resorts in Red Rock resorts could have solid week. Despite all the social distancing measures in place the picture isn't quite as rosy Macau with a May gross gaming revenue report expected to show a ninety to ninety five percent. Drop for the month. Even the most optimistic forecasts for Macau are now showing a twenty five to thirty percent decline in. Gdp are for the full year while GDR's forecast to bounce and twenty twenty one off soft comparables Macau. Iba is still expected to fall short of the pre pandemic for Wynn Macau Sands China. Mgm trying to Galaxy Entertainment S GM Holdings Mellow Resorts and entertainment and studio city. International General Motors is planning to add. Second and third shift's at its truck plants in Flint Fort Wayne and Wentz Ville Missouri next week. The Detroit automaker also plans to add second shifts that crossover plans in Spring Hill. Tennessee and Ontario Canada Glencore is under pressure from climate activists as its virtual annual meeting arrives. The company's climate policy is under a brighter spotlight after Norway's one trillion wealth threatened to sell shares because Glencore produces coal other annual meetings of note. Include tiffany on the first Essien Gopro on the second and Anheuser Busch on June third truecar forecasts that US auto sales will fall over thirty. Two percent in May retail. Sales are expected to be down. Twenty one percent during the month and fleet sales are anticipated. Fall Seventy eight percent on the positive side. The research firm says seventy two percent of car. Shoppers have stated that their need for a vehicle has remained the same or increase due to the pandemic. Not all automakers post monthly sales reports anymore but truecar has a forecast covering them all on the lighter side of things national donut day arrives on June fifth. Crispy cream is giving away free. Donuts for five days straight starting on June first not to be outdone. Dunkin donuts is offering a free classic donate of their choice with the purchase of any beverage at participating restaurants. Nationwide grub is offering a free half dozen donuts. Dunkin orders of ten dollars or more on June sixth through the seven donut world as a whole. The food item has been so popular in the past during downturns of course social distancing an empty office buildings could disrupt that investing thesis so far this year. Dunkin brands ranks fifteenth out of the fifty two publicly traded restaurant stocks with a negative thirteen point. Two percent return this week in barons mentions the stocks and themes drawing attention in. Barron's weekly edition. The publication goes bargain hunting in the travel related sector to find seven companies. That appear insulated from the worst of the pandemic uncertainty and could be lifted over the next year by an emerging revival and travel that includes Spirit Airlines Southwest Airlines Delta Airlines extended stay America Lindblad Expeditions Holdings Marathon Petroleum Las Vegas Sands for operating more attractive knee. Shes of the industry. Twenty twenty two estimated pe ratios of the seven range from six point three for spirit and Delta to fifteen point seven for Las Vegas Sands. Meanwhile Care Trust treat is singled out as the standoff pick in the senior living regroup and dividend hero sheen year energy partners is called a well insulated option for income investors. We end this week with our single stock focus. This week recovering. At and T.'s. Hbo Max Launch With Stefan Red Leg. The stock closed Friday at just under thirty one dollars. Stefan begins here as a long-term. At and T. shareholder I have been through ups and downs with at and T.'s. Stock and have been patiently waiting almost four years since the announcement of the Time Warner acquisition for the day. At and T. finally launches its own streaming service that Leverages Time Warner's rich assets. That day finally arrived on May twenty seventh but while I have not been expecting a lot. The launch even managed to miss my very conservative expectations in my view. And I am not happy to say this the HBO Max Launch was a true disaster not generating any meaningful buzz and showcasing significant management mistakes. Now that does not mean that the overall Hbo Max Streaming Services Bat and cannot become a success but the very important initial buzz Disney plus managed to generate is definitely missing for HBO. Max then goes on to list a few takeaways takeaway number one. Hbo Max is available on many services but not on the most important ones I successful streaming service there are generally four key ingredients an attractive and easy to understand offering price and content a sophisticated distribution strategy which allows customers to access the service anywhere in any time on any device. They desire in my view. At and T.'s. Hbo Max Launch. Actually failed on both dimensions but the more visible one right now relates to flaws in the distribution strategy. Hbo Max was even striking these distribution platform after launch with the latest being one with comcast which allows all of comcast xfinity customers to sign up for. Hbo Max while that is good. News fell sharply in comparison to the platforms where Hbo Max is not available. Most notably on Roku Amazon Fire TV Stefan then goes on for takeaway number two. At and T. to generate any meaningful buzz surrounding the launch of HBO. Max this is only anecdotal evidence but when Disney plus was launched days and weeks before Launch Day. I got ads everywhere on instagram and facebook. And the buzz was tremendous especially given that at the time it was not even launched in the country. I am residing. In which is Germany further down to find gives takeaway number three provide a better offering to the customer while. At and T. cannot fix it's launch day disaster anymore it needs to focus on the present and the future if it wants to get anywhere close to the fifty million domestic. Hbo Maximum Scribner's. It is targeting by twenty twenty five to do that. I feel they need to do four things. One strike a deal with Roku Amazon as fast as possible number to offer some sort of appeasement to existing. Hbo CUSTOMERS WHO can no longer access that service and Roku Amazon number three bundle. Hbo Max with some wireless plans or find another big buzz. Cooperation partners like Disney did with verizon number four fifty convoluted messing with. Hbo HBO now an HBO. Max as well as confusing upgrade pricing Stefan concludes with this investors. Have waited almost four years to finally see how. At and T. Will Leverage it's eighty five billion time warner acquisition launch day was a disaster given that pricing content and distribution simply weren't imbalance and failed to generate any meaningful buzz and excitement. That does not mean. Hbo Max itself will remain a failure but management will have to react swiftly to limit further damage to the brand and prevent its loyal. Hbo Customers from leaving the service altogether. It will be crucial to see how subscriber numbers will develop potential temporary pricing adjustments as well as distribution strategy. At and T. Needs to go where the customer is and that is unbroken Amazon. Whether they like it or not I am keeping. At and T. For the dividend which remained safely covered but ultimately even if able to pay back all of its Time Warner debt and more in line with its schedule. We need to see some kind of positive momentum with HBO Max as otherwise. The stock is bound to stay where it is currently for a very long time overall seeking Alpha contributors skew bluish. At and T. with three very bullish five bullish and three. That concludes this week. Stocks to watch. Thanks so much for listening for the Best Investment Analysis News on the web go to seeking Alpha dot com. Subscribe to this podcast on Apple. Podcast Google podcasts. Spotify stitcher you can sign up for other podcasts. Behind the idea alpha trader essay for F.A.S.T. Let's talk ETF's the cannabis investing podcast and marketplace roundtable on those platforms as well have a great week.