35 Burst results for "Marketplace Dot"
What will out-of-work Americans do without that extra $600 per week?
"We begin this week at the end of July in a year. Ain't none of us. GonNa Forget by pointing out the enduring reality of vis economy, thirty two and a half million Americans aren't working. They are trying to get by on expanded federal unemployment benefits expanded in who can get him gig workers, the self-employed people who can't go to work because school is closed, or because somebody in their household is sick. They all get them. Those benefits are also expanded in how much people can get the extra six hundred dollars a week? You've been hearing so much about here and elsewhere. You've also been hearing. I'm sure that the last of those checks go out in like a week. Unless Congress and the White House decide to do something. Marketplace's Mitchell Hartman gets is going. Back, in March Austin, Texas was gearing up for the annual south by southwest. Festival and everyone theater folks waiters, bartenders car share drivers was about to be working round the clock for a whole month, and making a significant chunk of their annual pay, then covid nineteen hit, the city announced that was going to be shut down. It just pulled the plug out from under every day Stephen Pruitt's lighting, designer and videography. videography he had gigs setup for south by southwest, and then he was going to China with Texas, tap dance troupe, instead myself and everyone else just lost every job that we've had before the pandemic. He'd been out of luck. Freelance workers aren't typically eligible for jobless benefits. But Washington made them eligible and added six hundred dollars. A week to everybody's on employment checks. It's been the difference between you know my rant. Versus, not if Washington doesn't extend the six hundred dollar week, pandemic payments come August pruitt will be getting a Texas sized unemployment check of two hundred a week. Like at that point. I'm probably still paying my rent, but I may have to talk to my bank about Can I defer my car loan? Okay? I can still survive, but now I'm going to be figuring out how to prioritize which bills to. To pay all over the country, people in states with comparatively low jobless benefits like taxes will face a fifty to seventy five percent. Pay Cut at a time when getting a new job isn't necessarily easy or safe. Says Andrew Staedtler at the century. Foundation, and that means people worried about losing their housing having to move in with relatives. You're not really be able to get by on unemployment benefits. Staedtler says. The federal supplement will suck twenty five billion dollars a week out of the economy. Money people spend right away on essentials. Rent food transportation. The money is also keeping some small businesses alive like an assemblies bakery in Kansas City. where she is cooked server and businessmen. When the state shutdown she got on pandemic on employment. It's gone towards shop expenses I. Mean I still have to pay rent? Even when I'm close and utilities, and all that I haven't had any revenue really when the state re opened, she was no longer eligible for unemployment, so she reopened fully masked takeout only and then Monday I woke up with flu symptoms and went to the doctor I'm presumptive positives shows quarantining now and her shop. Shop is closed if she doesn't start getting unemployment payments soon. She's not sure she'll be able to reopen. I'm Mitchell Hartman for marketplace exactly how much spending power that extra six hundred bucks gets. It varies a whole lot of course depending on where you are colleagues at the APM. Research labs of in Saint Paul of built an interactive map that will give you some sense of it. You can check that out at marketplace dot ord. Should say here by the way that there are talks said on an economic package tomorrow up on Capitol Hill. The GOP wants to hold it to a trillion. Democrats in the House already passed a at three and a half trillion. Those obviously are the starting
Climate change isn't going anywhere, and investment could soon rise
"While people around the country deal with the COVID, nineteen pandemic and protests for police reform and racial justice. The climate is continuing to change the US just experience. The warmest may on record, a UN report last week warned that mass extinctions are happening faster than expected and while climate change solutions are on the back burner for now they are as urgent as ever as part of our ongoing series. How we survive, we've been looking at how technology can help us adapt to climate change, so we wondered if you're an investor focused on climate tech. How are things going? Seth! Bannon is a founding partner at the venture firm fifty years, the human and economic tragedy of Covid. Nineteen has shown pretty clearly, the dangers posed by natural systemic disastrous. This pandemic has shown the dangers of ignoring science and I think we'll see a surge of interest for sustainability initiatives and investments in the wake of this pandemic, because of those things embracing that science will lead to resiliency and profit and ignoring it will lead to fragility. Downfall city group launched a new arm within its investment banking division that will be dedicated to sustainability. They specifically said Covid. Nineteen has increased interest in their client base in sustainable and resilient strategies, so part of it could be helped along by the recognition of what true disaster looks like right, which was was kind of abstract, maybe for a lot of people before this, absolutely I mean even with pandemic preparedness. people have been saying. Hey, there are some investments we can make. And yet they might cost a few dollars, but you know Ville payback ten volt, if a pandemic ever comes and regulators and investors, and even in some case. People in Academia You know didn't make those investments. And we're paying the price now. I think the parallels to the climate crisis are pretty clear. We know what investments we should be making. We haven't making them because some of them are hard. And some of them are expensive. and I think this is a pretty big wakeup call. In terms of the value of making those investments. It seems likely that there could also be though a renewed focus on public health preparedness like. Do you think that there's a risk for you? That money that might have come into climate change and resilience might now actually go toward public health resilience, while I think in times of crisis more money flows into the truly important things. Some of that will public health preparedness as it should. I think more will also flow into into climate tech climate preparedness, the places where less money will flow. Flow will likely be the nicest to have the ECOMMERCE technology. The the Ad Tech the social networking site I. Think these things will likely be the things that suffer and the beneficiaries will be all the things that are truly important. How is your fund raising going? You said you're raising a new fund now, right? Yeah, so we had our first close of that. Find on the day the New York Times had the first graph of the unemployment numbers. You know that was initially going to. To be a forty million dollar close to ended up being twenty million, luckily, the twenty that was supposed to close on that day didn't disappear. Everyone, said Hey, we just we'd like to continue to move forward to the closed at a later date hair on fire right now but I think for sure the last couple of months. It's been hard to get anyone's attention for you know VC's. There's typically two types of investors of individuals and family offices, and then those what are known as. As institutional investors that later group has largely pulled out of the market entirely I think a lot of funds that might have had a difficult time. Raising normal time just won't be able to raise unless of course things magically recover and and economies just back contract by the end of the year which I don't think it's going to happen. Seth Bannon is a founding partner at the venture firm. Fifty years. You can find our entire how we survived series at marketplace dot org slash climate. And now for some related links, research published last Monday in the proceedings of the national. Academy of Sciences found that five hundred species could become extinct in the next twenty years, and that our window to prevent those extinctions is only about ten or fifteen years. Long scientists had thought there would be more times more numbers here to illustrate that the researcher said that in the last one hundred years we've lost at least five hundred and forty three species of plants and animals. Now they're saying five hundred more could go extinct in just twenty years. T. L. Dr, the pace of extinction is accelerating. And scientists warned that mass extinctions can cause a cascade effect that can endanger human life on this planet they point to among other things, an increase in new diseases and pandemics.
"marketplace dot" Discussed on Marketplace Morning Report with David Brancaccio
"It is your last chance to get our new marketplace t shirt with a donation of thirty dollars whether you're giving for the first time or renewing your support. This is an opportunity that you don't WanNa miss but don't hesitate. This special offer ends this week. Contribute to independent journalism that you trust today at Marketplace Dot Org and get this shirt as a special. Thank you from us once again it's marketplace dot. Org and thank you getting the more than two thousand four hundred passengers off of the grand. Princess Cruise. Ship is a Multi Day process after twenty one people on board tested positive for cove in nineteen and afterwards those passengers are headed for mandatory fourteen day quarantines on land. This is not goose. Good news for them and it's not good news for an industry that employs almost half a million people in the US. A third of our in Florida Carnival cruises stock is down fifty two percent over the past month. Royal Caribbean Stock. Down Sixty three percent Norwegian cruise line. Stock Down Seventy two percent in the last month. We turn to Robert Courtney. He's a professor at Cornell School of Hotel Administration and an expert on the cruise industry. Good Morning Robert. Good morning so you have. Multiple ships quarantined. You have deaths. Is this industry in crisis. I don't know that I would say it's in crisis. But this is without a doubt uncharted waters for the industry and just very real concerns about the growth of Corona virus certainly in the US. It just it changes the playing field. It changes the need for strategy. And for what is obviously for this industry concerns about passenger safety number one people in the cruise industry. I've spoken to have said cancellations are through the roof. How can companies withstand this kind of pressure? The industry has room to adjust prices to try to drive demand. But frankly I think that may not be the the big concern here Certainly for the consumer. It's more about. It's more about the flexibility associated with needing to cancel if things change and these are the things that the industry is going to have to do to just instill re-instill consumer confidence. You know there is something about being in close quarters with you. Know Five thousand six thousand other people. that fosters the spread of infectious diseases. And this has been a concern for many years. Going back to Norovirus. What has the industry learned from that? And what is it doing to prepare for these kinds of outbreaks? It's it's something that the industry takes very seriously. They've really across the board amped up sanitation procedures on board the ships. So I think the industry's prepared for it but perhaps less prepared for consumer concern and this is just different You know the fears about crony virus or different than concerns about being sick with a gastrointestinal illness after this outbreak subsides Do you think there will be a long term psychological impact For the cruise industry? Think there's the potential for it. You know I think for consumers they tend to have short memories but it may take a while for the industry to see pricing comeback and the consumer demand return. Do you think we might see bankruptcies? That's a great question. I don't think we will. I mean these are solid companies. And they've dealt with these kinds of things before whether it was nine eleven or the recession. The cruise industry tends to get hit hard. But it's been a very resilient sector for the last twenty or thirty years. Robert Courtney has professor at Cornell School of Hotel Administration and an expert on the cruise industry. Thanks very much. Thanks for having a quick recap of where markets right this morning. European stocks are down around six percent. Us futures down in the five percents range. I'm sorry bench with the marketplace morning report from APM American public media..
"marketplace dot" Discussed on Marketplace Morning Report with David Brancaccio
"Percent. It is your last chance to get our new market lace t shirts with a donation of us. Thirty dollars whether you're giving for the first time or renewing your support. This is an opportunity that you don't WanNa miss but don't hesitate. This special offer ends this week contribute to independent journalism that you trust today at Marketplace Dot Org and get this shirt as a special thing from us once again it's marketplace dot Org and thank you social media and tech companies are under a lot of pressure this election season to fight misinformation but rather than become fact checkers or arbiters of truth themselves. Several have just restricted or banned altogether political. Ads marketplace's Kimberly Adams reports on how that's affecting campaigns. Individual companies are experimenting to see what Policies Work for political ads this year. Google started limiting micro targeting after complaints that some political messages were getting shared with just a handful of people. Julia Egger is president of digital consulting firm Sapphire Strategies so previously you could go into Google and target a specific group of folks for example people who have visited your website before or people who may be fit into a narrow demographic category smaller campaigns used that feature to avoid spending money advertising to people unlikely to vote for them Lucy Caldwell ran digital strategy for Joe Walls who briefly waged a primary challenge to president trump. She says Google's changes now limit the ability of campaigns to say hey go advertise to folks who walk like this who are Republicans between twenty five and thirty five and that definitely disproportionately affects small campaigns. Because they're currently still all these work arounds to getting it. That audience like blanketing a bigger area with an online campaign or buying targeted TV or streaming ads. Which are all more expensive. Giving the advantage to deep-pocketed candidates especially in local races other platforms like twitter are blocking political ads. Altogether PUSHING THOSE AD dollars to other sites Tim. Lim Is CEO of Limb Consulting Services. He says right now. It's the highlander of political ads. Which is an awful analogy. But yes actually. It's kind of a great analogy in the movie and TV. Show when you knock out one contender. Their power in this case money goes to the Challenger left Standing Julia Egger at Sapphire Strategies says. That's what's happening now. That spotify has banned political ads. You'll see that budget and those ads flow elsewhere for example to places like Pandora or other digital streaming services at least until those platforms decide political. Ads ARE MORE TROUBLE THAN THEY'RE WORTH TIM. Lim again really everyone just attempts at this point tense but employed after all. Somebody has to keep track of all of these changes for the campaigns in Washington. I'm Kimberly Adams for marketplace and in New York. I'm sure with the marketplace morning report from APM American public media..
"marketplace dot" Discussed on Marketplace Morning Report with David Brancaccio
"Things are edging back up a day after the Dow fell two thousand points the most in twelve years. I'm David Brancaccio in New York. Even talking about stimulus through government spending to combat the corona virus is stimulating a stock market at the moment twenty minutes into the trading day. The Dow is up six hundred. Seventy one points two point eight percent the SNP and P. is up two and a half percent the Nasdaq also up. Two and a half percent the. Us Federal Reserve tried with monetary policy last week. Now the other lever fiscal policy to decode. Here's Jeffrey Cleveland's chief economist. At paid in wriggled in Los Angeles. What do we mean by fiscal policy? David I think at the end of the day. It means returning money to the economy. One way it could happen is through a payroll tax. Cut Consumers would see that immediately in their income Another way would be you know. Income tax cuts and then spending that would directly target industries. That have been impacted by the downturn so tourism cruise lines airline etc a payroll tax cut percolates into the economy. Quickly but question is. How quickly could they enact such a cut right so the central bank can meet overnight and implemented and then emergency rate cut policy makers could take longer? It's something that could take. Let's say three to four weeks. David and in the interim will financial markets have patients. That's a question Jeffrey. Cleveland is the chief economist at Payton. Unreal thank you very much. Thank you David. Despite the balance this morning the Dow is down sixteen percent from its high February nineteenth with people avoiding airplanes. The CEO of Southwest Airlines is taking a voluntary ten percent. Pay-cut CEO Gerry. Kelly announced the move in an internal message to employees focused on the economic impact of covered. Nineteen marketplace's Nancy. Marshall Genzer is in Washington. Nancy docking one's own. Pay To what end. Well David something. Ceo's do during tough times to try to show workers. They're willing to share the pain but Kelly is taking a ten percent cut to his salary. According to southwest latest proxy filing his salary in two thousand eighteen was seven hundred fifty thousand dollars but his overall pay package including stocks and bonuses was more than seven million dollars still cornell university economist. Kevin Haluk told me this is not an empty gesture is real money. Even you know ten percent of a CEO's pay can be many many workers salaries for the year so it may be a way to keep people on in the firm for example. You think we should expect other see us to do this. Nancy. Well how it says. It's too soon to tell. It depends on a company's culture some corporate executives did take voluntary pay cuts during the financial crisis. Though and Haluk says this can be a way of telling employees. You know what they're going through especially in companies facing pay cuts layoffs. Nancy Marshall Genzer. Thank you very much and today. Representatives of the Centers for Disease Control are due on Capitol Hill to talk about strategy and funding marketplace's Kimberly Adams reports president trump's 2021 budget proposal for the CDC cut funding to the agency by about sixteen percent now with an eight billion dollar funding package. That was just signed into law. Jay Shambaugh the Brookings Institution says. You're seeing continued activity to try to make sure anything that needs to be funded from a public health. Standpoint is funded and right now thanks to low interest rates. The government can borrow money cheaply says Desmond Lachman at the American Enterprise Institute but takes time to spend that kind of money efficiently. So I wouldn't expect an increase in the very near future. Shambaugh at Brookings says the money is good in the short term. But now there's a much broader conversation in Congress about an appropriate kind of fiscal response that stretches beyond the immediate funding the public health agencies as well responses like tax cuts or paid sick. Leave that may address other consequences of the outbreak in Washington. I'm Kimberly Adams for marketplace. The State of New York population twenty million is just going to wait around for scarce hand. Sanitizer it's gotten the New York prison system to go into production on its own brand dubbed New York clean for now it's just for US government agencies like prisons or the subway governor. Andrew Cuomo gave himself a Spritz to Purell and Mr Amazon and Mr Ebay. If you continue the price-gouging we will introduce our product which is superior to your product. And you don't even have the floral bouquet. The floral bouquet of Lilac and hydrangea Cuomo claimed Tulips Amazon for its part has been working to get the gouging off the side and Ebay has banned. Us sales of sanitizer go Joe. The parent company of Mr Parral has increased production. It is your last chance to get our new marketplace t shirt with a donation of just thirty dollars whether you're giving for the first time or renewing your support. This is an opportunity that you don't WanNa miss but don't hesitate. This special offer ends this week contribute to independent journalism that trust today at Marketplace Dot. Org and get this shirt as a special. Thank you from us once again. It's marketplace dot Org and thank you checking in with organizations as they figure out the right thing to do given this rapidly changing corona virus story today. The group that helps medical schools coordinate among other things eighty one thousand med school students currently doing clinical rotations in hospitals. The training is required and parameters are very specific yet in some situations. The students may be asked to leave. John Prescott is an emergency room doc. Who is now? Chief Academic Officer at the Association of American Medical Colleges. Thanks for linking up glad to be here Dr Prescott. I assume your association is continuing to meet on this issue and gather information as new information comes in. We are meeting every single day. We have internally we have something called our our rapid response team and we are checking into here. What's going on nationally and locally We're working with the federal government We are working with our teaching hospitals to figure out how to best meet the challenges that are going on with the with cove nineteen might some of the hospitals. Ask The students to leave temporarily or might some of the medical schools be interested withdrawing their students temporarily depending on the situation on the ground involving corona virus. Yes that could happen. Students could be asked not to attend certain clinical rotations because of several factors one might be the lack of a personal protective equipment which is essential for for their safety. And that's been an issue that we're starting to hear more about And as a second thing may be that the team is so busy taking care of patients that they may not have enough time to teach the students. The students get training early on in how to keep themselves safe. I mean the guidelines of the CDC put out are things that students learn early on in their medical education. I mean this is. This is what we do medical schools. Get accreditation you're making changes to your approach to some of this training in the face of the corona virus. Is there a danger that schools could run afoul of the promises they make under accreditation? Our accrediting body. The Liaison Committee on Medical Education has been reaching out to our medical schools and likewise the medical schools have been reaching out to the Al-Shimi so that they don't run a foul Really with the coal goal of of accreditation is is to assure the public that the graduates of medical education programs are going to be good doctors even as we are confronting the challenges of Covert Nineteen. John Prescott is the Chief Academic Officer of the Association of American Medical Colleges. Dr Prescott. Thanks for doing this. Well thank you very much and dear listeners. At your organization. Have you been in these meetings now to figure out how to keep your people in your customer safe? We would very much like to hear how your company is approaching this given so much uncertainty. Email US using morning report at marketplace dot. Org in New York. I'm David Brancaccio. This is marketplace morning report from APM American public media..
"marketplace dot" Discussed on Marketplace Morning Report with David Brancaccio
"Last chance to get our new marketplace t shirt with a donation of just thirty dollars whether you're giving for the first time or renewing your support. This is an opportunity that you don't WanNa miss but don't hesitate. This special offer ends this week contribute to independent journalism that you trust today at Marketplace Dot Org and get this shirt as a special. Thank you from us once again. It's marketplace dot. Org and thank you. You may have heard the big south by South West festivals of Tech Music and movies and Austin Texas was cancelled on Friday with this virus. Marketplace's Andy Euler is in Austin with what it sounds like when economic activity simply vanishes. Yeah honestly I think people around here are are still in disbelief about exactly that south by makes up a three hundred and thirty five million dollar ecosystem in it affects basically everybody in Austin. I met up with Elizabeth Mathis last night at a bar called. Halima where she works. She was sitting with about seven other bartenders. And they were all just talking about what they were. GonNa do now. I think it'll be okay like I'm I'm not I am worried. We were all expecting to have that extra push. Sarah Bonus yeah pretty much. I got hired here in. May and I was like holding out expecting to be here for March for south by. She said she was going to be able to make rent for at least a few months and she told me she was admittedly concerned about the virus and so many people coming in from out of town but now she's worried about her ability just to pay the bills. Now you have the individuals in this tough spot. Businesses are in jeopardy. Oh that's right. Many of Austin's local businesses bake these ten days into their budgeting. There's a music venue on Sixth Street called Hotel Vegas. I went in and caught up with the general manager. Robbie pollock last night. He said his Vinnie was supposed to host some officials south by southwest music events. He said those events are still gonNA try to go on without the name. He said what he's trying to do right now. Is Make sure that people feel safe about showing up? We got enough sanitizer hand washing stations. I ordered face masses. People want him. They could have them. You know like I told my door south you know like where clubs so the service industry is affected but it goes beyond that you have a threat the businesses this huge festival touches runs the gamut. You have your hotels you have your pizza joints but I spoke with the guy who runs a lighting company. You said he's going to have to hustle just to make ends meet now. The Guy who runs a business that wraps buildings and cars in vinyl advertising when Google and facebook come into town. They want all of their sort of brand there. He said he said to lose about seventy five thousand dollars immediately just because of the cancellation. Now that it's official that there's no festival some business owners told me they have a decision to make take out a loan or just not pay rent this month. Marketplaces and dealer. And Austin. Thank you you gotTa David. There's news of a thirty billion dollar merger among the companies that ensure insurance companies. A on will by Willis Towers Watson. I mentioned this. Not because you needed to ponder reinsurance but as an example of how some big business deals forge ahead virus or not. The ten year interest rate is bound up from its of the day zero point four two percents low with the Dow set to open down. Maybe five percent. Thirteen hundred points half an hour in New York. I'm David Brancaccio marketplace morning report from APM American public media..
"marketplace dot" Discussed on KQED Radio
"Couple weeks all the rest of the year as well actually who are the people who make this economy work and is this economy working for them this is the United States of work things that you don't like about your job you work hard for what you want every job has their ups and downs whenever good job and also I'm working fast it's a lifestyle our stuff today is the service economy about seventeen percent of the labor force two out of ten workers plus or minus jobs like medical assistance and police officers lifeguards and chefs and dish washers remember or literary device here was to create ten profiles representing as closely as possible the characteristics of the one hundred and sixty four million people in the entire American labor force and then to go out and find those people details and methodology and marketplace dot org slash work right now our two service sector workers same sector of this economy very different backgrounds though very different jobs in very different economic realities my name is Neil and I am a bartender at the game night lounge here in Portland thirty four year old meal cairns in Portland Oregon where board game bar so we specialize in Morgan we have a over eight hundred and fifty more games there we a lot of families and couples big groups that kind of thing yeah plays a blast do you have to know the rules all these games are you just like let us know I I I usually tell people I know somewhere between five and seven percent of the games I know where most of them are on the shelves and I feel like I'm doing pretty good there will get you to Barton anyway I got out of the navy and wanted to do something totally different you took a two week course to learn how to tend bar and then to start applying places and it turned out the to me I really love doing would you do the service we did in the name well I was a a linguist so as a a Spanish translator basically how long were you in about nine years eight years eleven months in eighteen days specifically but who's counting yeah I wasn't keeping track or anything yeah so I would say I spent eight years in military navy as well and the big challenge for me when I was done was figuring out what I was going to do when I got out how did that go for you about the same you know didn't have a big plan in place and yours are looking for things that I could potentially do my skill set was not vast I could speak Spanish and I was living in San Antonio so everyone else did too and so I need to find some skill that I could pick up in a relatively short period of time and and get to work and I'm going back up for a minute why did you join the military rather high school what was it that the the drive that panic I think I was right fear was gonna do no we are really talking about things like how to apply to a college your plan take my as a teaser ACT's when done any of that you know I did not come from a well off family so they definitely could not have have paid for Mike my school I tried thinking of what my best options was going to be and I didn't know where the military recruiters work so I went that way so you get out anyone up as a bartender what your daily commute up the morning or I imagine you're tending bar to late at night so you get a probably mid morning late morning and exactly I wake up at the crack of noon and you know usually grab breakfast at home and then hop on the bus need to be worked at three thirty I'm yeah many men tend to show up there were early usually there are no later than three but it takes me between an hour an hour and a half to get to work every day I commute on the bus and with my bike but then your work to bar until close clean the place up you rush to get back to a bus and train to make it back home before the trains stop running and head to bed do it again the next day I are you making a good living I mean you get by yeah I mean I'm getting by two weeks we kind of thing it's this is one of the lower volume places I've worked so if you make a little bit less than I have in other bars we will pay the bills and pay my debt nuts that's about it so all in all an is this economy working out for you I'd say it's definitely a challenge when I started tending bar back in in two thousand twelve and then the the you know you're so that followed I mean really goodbye I made money enough that I was able to save on his side to move back to organize saved three thousand dollars and three months to make the move these days I don't think I could do anything even simpler without live in a pretty bopper lifestyle surface bar closed tomorrow what would you do would you be a yeah it's really a question think about that every now and then I don't know exactly what I would do I think the first thing I would probably do right now would be able to apply to some of the places much closer to my house I live within walking distance of three bars but bartending here and in Portland is a really competitive market you know I tell people all the time we have over nine hundred bars in Portland which is a lot but we have about twelve bartenders for every bar and you don't need that many so the competition to get a bartending job is is pretty stuff one last thing what's your what's your least favorite drink to have to make at the bar man you'll be either a Long Island iced tea or imia layered shot really.
Microsoft taking a $1 billion shot at climate change
"We begin today with the state of the planet which is also the Corporate Zeitgeist of the moment. The fancy executive Shindig in the Swiss Alps known as Davos us is underway today and for the first time a survey of participants in the World Economic Forum Davos official title ranked Climate Change as. Is there top set of business concerns also last week Larry thanks. CEO of BLACKROCK. The world's largest asset manager told business leaders that the company would prioritize more sustainable ainable investing and then on Thursday Microsoft announced plans to become carbon negative by the year twenty thirty and is investing a billion dollars in carbon removing technologies. Microsoft said. It hopes that by twenty fifty it could remove as much carbon as it has generated in its entire forty four year history. Sorry Lucas Joba is the chief environmental officer at Microsoft. And he's here to talk about this plan. Lucas thanks for joining me. Thanks for having me on my. You've pledged to invest invest a billion dollars and also to sort of pivot efforts in the direction of removing carbon and technologies. That can create resilience to end sustainability. But also so literally remove carbon and I wonder what some of those technologies are. Have you identified investment opportunities already. Well I think first and foremost evolution is already already provided some of the most powerful removal technologies of all through processes like photosynthesis. So some of the work that will be investing in. We'll be in what's called nature based solutions through forestation reforestation soil carbon sequestration. But also we'll be looking at Negative emission technologies like direct air or capture carbon capture and storage bioenergy. And what we're really motivated to do is to ensure that the capital that we put out is as additional well as possible is it a venture fund like are you expecting to get financial returns in addition to technology that you can use. We don't expect to. That is not a requirement of the fund. We would never turn that down. I'm sure but we also don't expect to lose money. How do we know so how? Many companies are announcing sustainability initiatives than carbon-neutral initiatives. And it's getting hard to Parse who is doing what you know like. How do we know L. either in the business community or as consumers that? This isn't greenwashing. Well I think it requires diligence on the side of Stakeholders to actually spend a little time. You know understanding what companies are actually doing. I think it also requires a lot of work on the side of corporations to be as transparent and as literal as possible. So there's a reason that we're using the term carbon negative because we are saying is we are going to go below net zero on our overall carbon emissions and we can provide an accounting the thing for that we can provide transparency into the portfolio of payments that were making to remove carbon. I think the best we can do is just to be clear eyed and cold. Aw hearted accountants about this and hold up. Our balance sheets is worth of carbon to be inspected. Let's also talk about incentives. Is this becoming a move like this on some level for every business you know we've seen institutional investors blackrock say. It's going to require. Companies Staff Sustainability Stain ability plans jet blue is going carbon neutral inciting flight shaming as part of the reason. I wonder if some of this is becoming a business. Imperative imperative whether it's to get ahead of regulation or even public sentiment. Oh absolutely I think it's surprising That that businesses can operate today without meaningful incredible sustainability plans. And I do not think there is a significant future. Sure where were businesses will be able to succeed without having plans and being able to show meaningful progress. I think the black rock letter was. It was a nice example. But that's just one of an incredible number of market signals that are being sent from both consumers customers regulators employees more in the blog. Post announcing this you said climate needs to become the world's next moonshot the tech industry. That's a phrase that has bounced around the tech industry but also it's an an industry that has promised to solve big problems should the rest of the industry following this example. I think the rest of the industry needs to do what everybody he needs to do. which is to look at climate and sustainability as what is which is the largest issue the largest most complex challenge that our species has ever faced? If you're a technology company I believe that you should be bringing technology solutions to the market. That does not mean that technology solutions are the silver bullet. It just means that whatever you as an organization are good at. That's what you need to be bringing. And and the urgency has has never been greater and then how about hiring in your blog post you cite not just consumer demand but also employees demand and has this also away. Does this have the added benefit of helping you attract and retain talent for whom this isn't big concern. Most definitely I mean when you look at any poll. In the demographic traffic that will be entering the workforce you know today in the next five to ten years moving forward. This is the number one issue they care about. If you're a technology company like Microsoft is then you're probably motivated by solving big problems with scalable solutions and and if that's your Mo then you've got to have climate and sustainability squarely within your focus and your employees. The more that you do that the more and the better the employee employee base that you're going to be able to bring in. It's just going to be an expectation and rightfully so and then finally just from a business perspective. Oh you know we've seen Microsoft employees already sort of asked the company not to do business to help. Let's say improve. The efficiency of oil and gas companies Microsoft has a seven year deal with Chevron Iran. Is there some possibility that you know the aggressiveness in this arena will make for some awkward dance partners. I don't know about awkward. I think think that these are conversations that need to be had and we are committing as part of our overall announcement to include conversations about an partnerships on sustainability and carbon reduction removal with all of our enterprise customers and major suppliers market sector independent. I think that if you take a scientific or a scientist's view of the problem you leave a lot of the passion and politics politics out of it and you just focus on the job that needs to get done and if you believe Lake we do that. This problem is one. That's going to require solutions. Sion's from everybody from every organization than it would seem strange to be turning your back on any particular Sector or or customer That said you know of course these. These conversations aren't always easy aren't always straightforward. But I think that that is long as you. Just focus on the problem at hand that needs to be solved we. We've always appreciated the partnership model at Microsoft and I don't see that Changing going forward with with any of our of our existing or future customers. Lucas Topa is chief environmental officer at Microsoft. Thanks so much for talking with me. Thank thank you molly. You can hear more about how technology can help us deal with climate change in our series how we survive that's online at marketplace dot org
Looking back on a long trade war
"Have tried. Laurie have we tried to keep you up to speed on the great Sino American trade war of two thousand eighteen nineteen without overwhelming. You because kids really the appetite for a whole lot of this harmonize tariff Shedu five six seven eight point one nine point two noted knotted netting of twine cordage or rope excluding fish netting all made up fishing nets of man-made Textile materials or or this harmonize tariff shedule. Four one zero five point one a point one oh sheep or lambskin 's without woollen tend but not further prepared wet blue. What blue what is that anyway? Your appetite for that is probably finite but look this trade. War is the most important thing that's happened in the global economy. In the past two years it has rattled global markets. It has changed changed the decisions. The Federal Reserve has made it has bewildered small businesses and it has cost American consumers and businesses billions of of dollars so today on the program with the deal set to be signed. Tomorrow how we got here. Where here really is? And where do we go from here here today. I'm directing the United States trade representative to examine China's policies practices and actions with regard to the forced voiced transfers of American technology and the theft of American intellectual property. We will spare you the whole time line. We've got it online and marketplace dot org if you want the nuts and bolts but that right there from president trump back in August of two thousand seventeen that is the trade war origin story from there was just a short step to global tariffs on washing machines and solar panel steel and aluminum and as things stand now tariffs of as much as twenty twenty five percent on more than half of everything that we buy from. China it's important to point out to more things really number one. We don't actually know what's in the deal that's supposed supposed to be signed tomorrow and we won't until after it signed a number to a deal it may be but this is not the end of the trade war we're still building tariffs on three hundred and seventy billion dollars worth of Chinese imports and in a statement to Bloomberg Today Trade Representative Robert Lighthizer said and this is a quote. There is no agreement for future reductions in tariffs so where it's all gotten us and where it might lead US straight ahead on Wall Street the day before Ordeal Day. Not a whole lot of trade inspired enthusiasm see also priced in so from us some trade war details when we do the numbers
"marketplace dot" Discussed on Marketplace Morning Report with David Brancaccio
"Later this morning the past few months of showing that consumer spending is helping to keep the US economy afloat but more spending can can be can mean more debt. A new report suggests credit card. Delinquencies are rising to Nira 10-year-high our coverage will be in the marketplace morning report. podcast just feed later on. If you miss it on the air you spoke we listened. Marketplace socks are back and right now we have a real deal so for you you can get not one but two pairs of socks. That's one for each of our new marketplace designs when you donate sixty dollars or more today or or you can sign up to give five dollars a month. Same deal support independent news you trust at Marketplace Dot Org and get these snazzy new marketplace socks as a thank you for your contribution and thank you for believing in what we do. We really do appreciate it. Don't miss this during a home depot. Oh conference call for investors to talk about quarterly results this week the company blamed impart the OPIOID crisis. Company says there's been more stealing of merchandise. Marketplace's replaces Andy Euler has more home depot's hypothesis is that the addictive nature of opioids leads criminals to steal more either. Sell it on the black market or return it for cash Bob. Morocco is vice president of loss prevention for the National Retail Federation. We are seeing an increase in things like organized retail crime where these gangs He'll in bulk from retailers. He says two thirds of retailers have seen an increase in these organized. Thefts Joe Schmid. The consulting firm Alex Partner says it's tough to connect retail losses directly to the OPIOID crisis. He's most retailers track. What they call shrink? That's loss due to theft or internal misappropriations vendor fraud in the aggregate. So it's hard to zero in on the causes but that could be changing leading the fight on this is really getting that data to a level the level of detail where they they can't be more action oriented understand. Those root causes us to what's driving retailers trying to keep shrink to under two percent annually right now in the aggregate numbers numbers about one and a half percent. I mean dealer for marketplace and stock in Hertz. Rent a car is hurting down. Nearly five percent yesterday. Avis budget fell four percent percent because the car service lift announced. It's going to do a car rental business right through. Its APP I in La in the San Francisco Bay area refueling will be at market prices. If you've ever rented a car you know why that stands out in New York. I'm David Brancaccio with the marketplace morning report from A._P._M.. American public media..
"marketplace dot" Discussed on Marketplace Morning Report with David Brancaccio
"You can get not one but two pairs of socks. That's one for each of our new marketplace designs when you donate sixty dollars a little more today or you can sign up to five dollars a month. Same deal support independent news you trust at Marketplace Dot Org and get these snazzy new marketplace marketplace socks as a thank you for your contribution and thank you for believing in what we do. We really do appreciate it. What what some call the? You'll never get out of there for less than two hundred bucks store. Costco releases quarterly results later. Today it stock is up more than forty percent this year. Marketplace's Nova Kosovo reports had a costco in New York City. Evelyn Rodriguez is leaving the store with groceries and art supplies for her kids. I'm here all all the time. They all know me in here. Rodriguez stretches our dollar by shopping in bulk such as the nuclear winter supply of catch up in her shopping cart. Six giant bottles. The price you pay for the bulk pack and a story. You're getting one bottle that's is. The bulk is key here. A key component of COSCO'S OSCO success. It can offer bulk items cheaper including brand names and pass on the savings but the company has also expanded into more luxury items Apple. Computers Commuters coach handbags. Brian Eshelman had of retail at the consulting firm. Alex Partner's says there's a current so-called barbell effect consumers are spending more on luxury goods and stretching their dollars on staples he says COSCO's business model falls nicely into that trend. They offer a value in the bulk. Purchasing of food gas consumable items like that but also they offer more luxury goods at a discount account price. Combine that with memberships needed to shop at costco and customers. Keep coming back and they get perks like cheap gas and I wear. This format has has proved to be very popular in the US. That's analyst Charlie O'Shea of Moody's who points out that it's also showing promise in China where Costco opened a pilot location in August guest and it's being copied by others. Amazon is taking a lot of pages out of the KOSCO playbook with its prime membership offer members more makes them more loyal. Those loyal customers include Stephanie. Kretschmer who features the latest Costco Clothing Fashions on her instagram page. COSCO casuals Israel's she's found an online community. I had one woman say her husband. Says if you can't get at Costco you don't need it so there's other fans out there kind of extremists if you will. She says she visits Costco. Weekly looking for those bargains. Another loyal member driving sales I'm Nova Safa for marketplace. And and you can do a lot of virtual things on a smartphone right now. A company called rewound has built an APP. That makes your phone look and work like an old ipod. Click Wheel Pretty Meta. Should improve it so it feeds the music to its own virtual ear buds. Only the APP can hear the music. There's another APP where you can watch virtual tree grow as a way to stop you from mm using your smartphone. All the time for us to abbots call in New York. I'm David Brancaccio visit the marketplace morning report from A._P._M.. American public media..
"marketplace dot" Discussed on Marketplace Morning Report with David Brancaccio
"We listened. Marketplace socks are back and right. Now we have a real deal for you. You can get not one but two pairs of socks Fox. That's one for each of our new marketplace designs when you donate sixty dollars or more today or you can sign up to give five dollars a month. Same deal support independent news you trust at Marketplace Dot Org and get these snazzy new marketplace socks as a thank you for your contribution and thank you for believing leaving what we do. We really do appreciate it. Not a what's happening in twenty twenty. Even though it hasn't happened yet late each year the economist puts out an extra a special magazine with its predictions back in the year. Two thousand looking ahead to the fateful year that would include nine eleven. The economists singled out. Afghanistan is the worst country in mentioned a certain of some of Bin Laden. We'll joining me in. New York is the editor of The Economist World in Twenty Twenty Daniel Franklin welcome Hello Nice to behalf all right so You got the elections this coming year. We got that one of the predictions Internet's plural. Yes this is the idea that we're actually actually a moving into an era where we have the splinter net not just the Internet and because of the technology battle between essentially America and China Over who will control the infrastructure of the next generation of technology and it's disturbing that this great unified world of the Internet may actually be splitting into who perhaps even more pieces all right now. There's all these people sitting there waiting for me to ask this question next year recession in America with with the proper for our word probably not. I think we're saying that Growth around One and a half percent a slower growth. So that's It's not comfortable comfortable. LBS slowing it'll be awkward and for the politicians clearly if it does tip into recession that has huge implications for the election in twenty twenty but The American consumer so far has been the hero of the peacekeeping America. Powering along very high employment helps that to help me with a term that I use for the world in twenty twenty year old. Now my southern spouse has said y'all but y'all used by Englishman. What is that this year old is new it? It's short if a young old moving into a period of peak retirement of the baby boom generation. So the old are these. This generation of retirees Hari's who will be more active healthier more assertive probably than any previous generation more numerous And therefore disrupting markets disrupting steph employment because many of them want to keep active and consuming in a big way so people talk a lot about the millennial generation rightly the exactly. But don't forget the boomers all right Dan. You've been doing this for seventeen years. I'm sure you've got so much right. ANYTHING ANYTHING STAND OUT AS as a missed call. The one that stands out to me is The world in two thousand and nine and looking back at two thousand and eight and the headline of my my piece then says it. All it was about two thousand and eight. Sorry we had not foreseen the financial crisis. Well I mean. It was a black swan event. Dan You now. A lot of people didn't see coming. It would have been nice to have got it right but it shows you actually a serious point that the big disruptions that are often the ones that easiest to Miss Daniel Daniel Franklin. WHO's now the economists diplomatic editor? But he edited this world in two thousand twenty which is available now Daniel. Thank you very much thank you. And why has all Ludvig creeped in here. Well Franklin reminds us next. Year is Beethoven's two hundred fiftieth birthday while we're hearing now is the first of much to come in New York. I'm David Brancaccio marketplace morning report from A._P._M.. American public media..
"marketplace dot" Discussed on Marketplace Morning Report with David Brancaccio
"Same deal support independent news you trust at Marketplace Dot Org and get these snazzy new marketplace socks as a thank you for your contribution and thank you for believing in what we do. We really do appreciate it from from New York to Barcelona and beyond there've been campaigns against airbnb in its competitor's driven by concern that short term rentals take housing supply off the normal normal rental market and drive up rents hitting lower income people especially hard in Greece's capital Athens opposition become open protests and in some cases vandalism. I'm of AIRBNB. Properties has occurred John Lawrenson reports the sunny streets aligned with orange trees in this neighborhood. Near the Acropolis there's graffiti on the walls of many of the houses our neighborhoods not theme pulse for tourists and simply stop airbnb. Doors of some short let properties have been jammed with nails and safe boxes where some owners leave keys for their customers or a sign of an AIRBNB and have been damaged. Sophia Vail Gopal. Who has three properties on AIRBNB? She seeing other people's safe boxes vandalized. There were groups that they were damaging the lock boxes they spill glue the local box so it completely destroys this. There are now around ten thousand properties on Airbnb in Athens double the number two years ago for some homeowner's like they'll go pollux who lost her job as a journalist in economic crisis of two thousand eight this is their livelihood but anti airbnb protests. Like these he's clashed with police in September stellian Caracas. Who earns four dollars an hour as a waiter could no longer afford to rented apartments in the neighborhood where he grew up and now works? He supports the protests. And I asked him what he thought about the violence. If you live here and see what happens. I think it's good. Because he says residents so badly affected I mean they are throwing out of a neighborhoods Beverly Normal Reaction Airbnb in a statement said did it creates new economic opportunities for families and businesses to benefit from tourism and generates revenue for communities where guests stay but but it did not comment on the AIRBNB property damage or graffiti that tells tourists. They are not welcome in Athens under NSEN for marketplace as officials from around the world meet in Spain to work on the next round of responses to rising global temperatures and Melting Arctic ice the E. U. is working on a plan for that region to become carbon neutral by mid century. The European Council president said this morning that quote. Some political work is still needed on details ahead of an E. U. Summit meeting set for the end of this week Poland Hungary and the Czech Republic had the biggest issues with us in New York. I'm David Brancaccio and you're listening to the marketplace morning report from A._P._M.. American public media..
OECD GLOBAL GDP GROWTH FORECAST SLASHED AS TRADE WAR, GEOPOLITICAL UNCERTAINTY WEIGH
"In Los Angeles uncon- resolve Thursday today yeah I do believe the nineteenth of September is always to have you along. Everybody the watch word of this program so far this week have been monetary policy interest interest rates and how the Federal Reserve uses them to manage this economy. We did an explainer on Tuesday. The feds economic policy tool kit set the music featuring figuratively chair Jay Powell on guitar. You should check it out marketplace dot org. There was the interest rate decision yesterday featuring chair Jay Powell actually talking about the way the Fed does what it does today. It's the E. C. D. The Organization for Economic Cooperation and Development and is downgrade of its global growth forecast this morning to its lowest level since two thousand nine. Let that sink in for a second. There is the trade war yes but also there is this quote from the OECD's chief economist do not rely on monetary policy to do the job alone. The head of the European Central Bank says the same thing Jay Powell says a version of it because fundamentally central banks for all their power cannot do it all marketplace's. Mitchell Hartman explains what's going on here to try and spark some economic growth central banks from the US to Europe to China have been pulling out every tool in their toolbox of monetary policy. That's manipulating the money supply and interest rates which are now negative in some places and still says Karen Petro at federal financial analytics central banks are wrestling with the fact that they have done everything thing they could more than they ever thought they should and growth is at best in Nemec threat of recession is very real so they're kind of punting to the politicians Titians and saying now you need to use your tools fiscal policy to stimulate growth which generally means cutting taxes and boosting spending bending but not just any kind of spending says Jacob Kirkegaard at the Peterson Institute to invest more money building new real estate high hi speed Internet Education Research and development this kind of spending stimulates productivity and future economic growth here in the the US. We've already Donna version of fiscal stimulus. The massive 2017 tax cuts Douglas Holtz Aken at the American Action Forum says that's led to soaring debt and deficits. He says we should be investing in things like roads and bridges but bitter partisanship is left Congress in a state of fiscal paralysis Alexis. The poster child for this is the absolute agreement that we need an infrastructure program absolutely no ability to get it done in addition to more growth friendly fiscal policy policy central bankers and the OECD also want less confrontational more growth friendly trade policy to help recharge the global economy. I'm hi Mitchell Hartman for marketplace.
Federal Reserve, Jay Powell And New York University discussed on Marketplace with Kai Ryssdal
"We are going to stipulate here. In fact, we are going to lean into the trying to interpret the Federal Reserve plainspoken as Jay Powell tries to be is not unlike the Kremlinology of years gone by trying to figure out who was in charge by looking at who was standing next to whom at the mayday parade's, except with the fed. It's parsing every syllable, that comes out of J Powell's mouth. So today, an experiment of sorts with the ultimate goal of figuring out how well the fed is saying what it wants to say. And how well we are interpreting it. We got people on the phone today. Just a couple of minutes before the Fed's announcement wrapping up its two day meeting on interest rates. This was two o'clock, east coast time and we asked what they thought was going to happen. I'm Sydney Dixon. I'm a professor of economics at New York University. It's one forty one pm on June ninth. Nine hundred twenty nine thousand nine well, I would say that we're sort of expecting them to hold the line on rates for now but perhaps which their language to more ready to act description of how they will. Perceive future risks, and they're just expressing a willingness to, to act, should, you know, the data turn worse than it's been. My name is Mingjia a trading manager at betterment, and it is one fifty seven PM on June nineteenth twenty nineteen. I'm leaning towards I think it's going to be more of a cautious too hawkish kind of tone that they're going to take. I think they're going to leave rates on cut but signal to cut in December, or they might mentioned in the near future. I really can't see them cutting in July unless it's an emergency. Spoiler alert. They were both basically right. No rate cut now. But well, you're sure Bill overall or policy discussions focused on the appropriate response to the uncertain environment. The projections of appropriate policy show that many participants believe that some cut in the federal funds rate will be appropriate in the scenario that they see as most likely no more patients for the fed, if you think back to the last couple of minutes, we got back on the phone. With our test subjects after show palace press conference to see how they were feeling about their predictions, I up Sydney Ludvigsson at NYU, stern. I didn't see much to contradict, what I expected. You know, the message is worse were not quite saying that we're in patient mode anymore, but we are not cutting anything today, but we're actively monitoring for more sustained evidence of the kind of uncertainties and concerns that the chairman was talking about was right. Here's John at betterment. I listened back to it because, you know of my own ego, and I was like, was I right. I definitely feel like the markets were expecting something, a lot more dovish than what came out. That's probably true dovish there, by the way means not at all worried. Not all that really worried about inflation. There were a little bit thus leading more toward cutting rates than raising rates. I know there are a lot of people out there to whom this obsession with what fed says sounds obsessive. But it is the entire American. Economy and probably the global economy, as well that we're talking about here, but also be the fed knows were watching. Here's ming. John one more time from betterment. We analyze fed speeches like an eighth grader analyzes like text messages, you know, like every single word matters every single word couns after two thousand and eight they realize, like, oh, the markets are watching, and especially with the rapid dissemination of their like press releases and how quickly markets respond to things like that. I think they have only become more cautious cautious and aware on that note, by the way, about the whole timeline of this thing. If you want wanna historic look at what the fed has done with interest rates over time. We have that at marketplace dot org.
Facebook's crypto dream
"This marketplace podcast is brought to you by ultimate software dedicated to putting people first with innovative solutions for HR payroll and talent management. Learn more at ultimate software dot com. Ultimate software people. First. Baseba goes crypto, because why actually from American public media, this is marketplace tech? I'm Tracey Samuelson in for Molly would. Facebook is planning to launch a cryptocurrency in twenty twenty it's called libra and Facebook already has a bunch of high profile partners, lined up. Uber Spotify and notably. Big players in the payment space, like visa, MasterCard and PayPal. The partners will jointly manage the currency through a nonprofit association and Facebook says they'll be a firewall of sorts between users finances, and the social network. It won't use financial data to improve ad targeting on Facebook. So why create a digital wallet and why do it with a crypto currency? We say L S covers payments and crypto currency at the research firm Moffitt. Nathan said she says Facebook wants to be a commerce pot form. They have a major goal to start facilitating commerce over their platforms as a whole do revenue stream for them beyond the social media revenue, streams and payments are essential to facilitate in commerce. So like eighty five percent of. Facebook users when you look across all their properties, including WhatsApp, and Instagram and Facebook are actually in developing markets. So as a means for empowering their WhatsApp users that are sitting in all these countries where those what's up users have a phone and have a Wes up account, but may not have a Bank account, or even if they do they may limit their use of the local currency because of its volatility. They're trying to empower that group of individuals talk to me about the trust factor. Right. Because that's been a huge issue around Facebook. And now we're introducing a wallet into that scenario. Yeah. It's perhaps one of the most challenging things. Let me put it that way that this initiative will have to work through is the process of distancing itself from Facebook. So they're quarterbacking the creation of libra, but it's, you know, once it's up and running in twenty twenty they will be one of one hundred or so roughly. Members of the association with in theory. No more control over the system than any of the other core. Constituents even their wallet. Which is, you know, being called ca- libra. They're setting up as a separate subsidiary from Facebook specifically, so that it can meet all of the regulatory compliance and kind of maintain the data separation, let it go wrong. What should we be worried about well payments are extremely messy and a highly regulated and very different in every jurisdiction? And so most countries haven't even decided how they wanna treat crypto currencies. Are they a commodity like gold? Are they a currency like dollars? Are they a security like stock in a company like it's actually treated in all three of those ways in different places? So given that not only will libra have to navigate two hundred plus countries different treatments, most of. The countries don't even have the treatment established. Lisa LS covers payments and crypto currencies at the research, firm Moffat Nathanson that big open question of regulation, Ella says, how receptive countries are to Facebook's currency will likely have a big impact on where out the currency and win. It could take a phased approach. And now for some related links. If you really want to nerd out on this, you can check out Facebook's, white paper for more on the mechanics of how libra will work how it will be backed by a reserve of real assets. And the association that will govern it and for something maybe lighter, remember, the winkle Vaas twins Tyler and Cameron sued. Facebook founder, Mark Zuckerberg, claiming he stole their idea and settled for sixty five million dollars. The twins have been big crypto investors and said on CBS Sunday morning last weekend that they need to be frenemies with Facebook in may the financial times reported that suck and the winkle vi- have actually talked about the new currency. I'm Tracey Samuelson. And that's marketplace tech. This is APN. Marketplace turns thirty this year and to celebrate we're going back to the eighties. Checkout are totally radical new. Thank you gifts that you can choose from when you become a marketplace investor, your donation, large or small will help us keep bringing you news and information you trust for years to come. Donate today at marketplace dot org. This marketplace podcast is brought to you by click share an award-winning wireless presentation system with click share in your meeting. You can share your screen instantly from any device, no more awkward small talk, or wasted time as you wait for tech problems to be fixed. Click share instantly projects any speakers laptop tablet or phone onto a presentation screen so everyone can work together share their ideas and create something great. That's the click share effect. Visit click share free trial dot com to learn more and sign up for your free trial.
AI for Earth helps researchers get more granular with climate data
"This marketplace podcast is brought to you by indeed. Are you hiring with indeed? You can post job in minutes. Set up screener questions than zero in on your shortlist qualified candidates using an online dashboard. Get started today and indeed dot com slash marketplace. That's indeed dot com slash marketplace. And by click share with click share, and you're meeting, you can share your screen instantly from any device. Click share. Instantly projects any speakers laptop tablet, or phone onto a presentation screen so everyone can work together share their ideas and create something great. That's the click share effect. Visit click share free trial dot com and learn more. And sign up for your free trial. When you're using big data to adapt to climate change. Sometimes you need to call in big tech from American public media. This is marketplace. Tech demystifying the digital economy, I'm Ali would. You're on marketplace tech, we've been covering how technology helps us adapt to climate change in our series. How we survive to start with you have to understand the problem and create smart solutions? That's the job of the Chesapeake conservancy, a nonprofit organisation that uses technology to recommend conservation techniques for the Chesapeake Bay and a lot of it comes down to the resolution of the data. Jeff Allenby is director of conservation technology at the Chesapeake conservancy. Now, one thing to know is that the Chesapeake Bay watershed is huge. It's sixty four thousand square miles, spanning six eastern US states and the organization mapped the whole area down to the meter the data set. That'd be created for the Chesapeake of that one, meter resolution was instill is one of the biggest high resolution they uncovered data sets ever created in the world. It took Allenby's team eighteen months and more than. Million dollars to manually process that data as in people having to identify things like the characteristics of a tree or label a house, a house. Then they use the data to advise towns on what to prioritize, whether it's planting trees or restoring wetlands or buying land to conserve and once word got out lots of other nonprofits like around the Great Lakes, wanted to do the same thing with map data. Most don't have the time or the money, but big tech companies do budget simply can't be a barrier to people accessing technology, Lucas Joppa leads Microsoft's AI for earth program, which lends the company's computing power and machine. Learning capabilities to organizations trying to tackle climate solutions the program worked with the Chesapeake conservancy to scale up their approach to land mapping to a much bigger area and faster. We wanted to do that, for the entire United States over ten trillion pixels and it can't take a year and a half to do it. Because if it does you're going to be out of date by the time. You're done right. The company awards grants. Let's organizations and scientists use its cloud computing resources and loans out data scientists to various climate related projects, Joppa, says right now AI for earth isn't meant to be a money maker, but he says tech companies have a responsibility to be part of climate solutions beyond their own in house efforts. We've gotta make sure that we have our own house in order. But then we do have to be proactive in going out and, and ensuring that our products are deployed in ways that empower people to amplify their sustainability impact. And there's business value for Microsoft, and being there, first, where a platform company, and we would prefer to be the platform of choice for everybody. Building technology inspired solutions to environmental challenges for Jeff Allenby at the Chesapeake conservancy, the real value comes and being able to know what's working, and what's not so you know what to conserve and what to let go. So from the side of it, it really allows you to, to understand the context. Of kind of any given action. And it allows you to understand the alternatives. If that action can't go forward and Allenby says those decisions have to be made quickly because there isn't any time to waste. And now I am related links. You can see some of the super detailed maps that the Chesapeake conservancy created and a little more detail about those projects at our website marketplace tech dot org. Thanks, Dan Ackerman, from the water main project at American public media for turning that into a super cool story. And we've got linked to more information about some of the grants that the Microsoft AI for earth project has given out last month in announced five hundred thousand dollars for new grants that will actually be distributed by the Leonardo DiCaprio foundation. And we know that climate intelligence is the first place to start with a lot of these adaptation efforts. So there's a lot more news on that front, all the time earlier this month AT and T shared, the data that it's been using to evaluate the risks to its facilities, and make them more resilient to extreme weather. These data sets were developed by the department of energy's, Argonne National Laboratory, and AT and T made them all available to the public. The company also started a climate resiliency community challenged, so that universities can work with towns in southeastern. States to develop solutions and risk analysis based on that data and just last week in an attempt to get everybody looking at the same peer review trustworthy data the World Meteorological Organization launched the WMO catalog for climate data there. Eighteen data sets in there, so far and the organization hopes more will be added soon, the Wm oh, by the way, I also just learned is basically, the in house, weather, and climate agency of the United Nations. Another fun fact last week, the WMO elected Gerhard Adrian of Germany, as its new president for four year term. And I mentioned this because he beat out our guy. Dr Lewis, you Tonelli who's currently the director of the US national weather service. Sorry, doctor, you Tonelli. I'm Ali would and that's marketplace tech. This is APN. Marketplace turns thirty this year and to celebrate we're going back to the eighties. Check out our totally radical new. Thank you gifts that you can choose from when you become a marketplace investor, your donation, large or small will help us keep bringing you news and information you trust for years to come. Donate today at marketplace dot org. This marketplace podcast is brought to you by click share and award winning wireless presentation system with click share, and you're meeting. You can share your screen instantly from any device, no more awkward small talk, or wasted time as you wait for tech problems to be fixed. Click share instantly projects any speakers laptop tablet or phone onto a presentation scream so everyone can work together share their ideas and create something great. That's the click share effect. Visit click share free trial dot com to learn more and sign up for your free trial.
"marketplace dot" Discussed on Marketplace with Kai Ryssdal
"The way, it marketplace dot org, but polls and headline numbers are one thing people's stories of their economies or another. And that gets us to this latest installment of our series. Mike Connie I'm Anna Taylor from Atlanta. Georgia, the owner operator of Taylor properties..
Automation could make ports more efficient and eco-friendly, but with fewer jobs
"Does 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 MBA. And Brad click share with click share and you're meeting. You can share your scream instantly from any device. Click share instantly projects any speakers laptop tablet or phone onto a presentation screen so everyone can work together share their ideas and create something great. That's the click share effect. Visit click share free trial dot com to learn more and sign up for your free trial. Automation could make ports more efficient and EKO friendly, but with fewer people from American public media, this is marketplace tech, I'm Amy Choi in from Ali would. More consumer goods come into the port of Los Angeles than any other US port a plan to use more unmanned, electric vehicles would bring major changes to the port and its surrounding economy, union workers are pushing back hard against automation at a protest this spring, workers held signs. It said robots don't pay taxes, and where will American labor work. But poor donor say that automated technology will cut costs in L A and help California meet its ambitious goals to reduce greenhouse gases today. The port is noisy and polluted. A massive system of ships cranes and more than one thousand seven hundred trucks passing through a day. Most of them diesel automation could change that picture. Romi Varghese reporter for Bloomberg news tells us what an automated port of Los Angeles could look like it becomes almost silent when you when you see some of these automated vehicles in action under the plan that's being considered for the port of alleged. A for this one terminal, which is called peer for hundred which is the biggest shipping terminal in North America. By the way, der plan is to have this automated. Straddle carried is one big piece of equipment would basically do the job of three machines. How a lot of nation of the port effect the local economy. I, I know for the port of L A the local community is a is a community of L A called San Pedro. And it's a very blue collar community that has really relied on the ports for its economy, and honestly, deports in general are responsible for much of the economic activity in southern California. It's, it's a huge driver of jobs, both indirect, indirect jobs. I talked to a bar owner and about half her patrons are, are longshoremen, and she's worried. Well, if are fewer of them on going to have to cut back my employee hours. I'm not going to be able to hire bands to calm for nights of the week. And defaults who are promoting automation, are saying, look, we need to say, we need to stay competitive, we are losing market, share to east coast and Gulf Coast ports, because they are more nimble, and our ports are in, in the our ports in, in California just more expensive. So you have this micro aspect to this the micro impact, and then the macro impact, you know, your reporting revealed that there are forty four automated or semi automated ports around the world. But there are only five in the US it seems that that slow have we been slower to adopt this technology? American ports have definitely been slower to adopt this technology and a lot has to do with the power of local unions. And in Asia, a lot of these ports are, are newer, so they're using the most up to date technology, but generally American ports have been lagging. Ng in automation because of the concerns of how this affects local jobs, that was Romi Varghese reporter at Bloomberg news. She notes that LA mayor aarc are said he continues to lead talks between the union and the port. And now for some related links the need to go green in LA Israel public radio station KCRW reported that the Los Angeles and Long Beach metropolitan area was ranked the worst in the nation for ozone pollution for the nineteenth time by the American lung association. Some of the causes cars cars cars, and the ports on the automation, tip the Wall Street Journal, had an article about a new study by MacKenzie saying automation will hit both male and female Labor's equally. It's not just men working in manufacturing who are at risk of losing their jobs. But up to one hundred million women losing their jobs globally by twenty thirty primarily in clerical in customer service, gangs. And while both men and women may lose jobs and equal pay stewed automation women will be less likely to have the opportunity to get the training required for new jobs. And finally, we might not actually be. Ready for all of this automation? We're talking about urban planning scholars surveyed hundred twenty cities in America about their preparedness for self driving cars and only a tiny fraction of them have comprehensive plans for autonomous vehicles. One of them Los Angeles. It has an urban mobility in a digital age plan. That includes ideas about dedicated lanes for Altana, Mus cars municipal fleets of robotic buses, and shuttles and vehicle data sharing relationships, so that the city can manage traffic flow. You can read more at city lab dot com. A project of the Atlantic, I'm Amy Choi. And that's marketplace tech. This is a PM. Marketplace keeps you connected to news and information you need on the radio on the web, and on the go. But we need your help so we can keep doing it. And doing more consider becoming a marketplace investor when you donate today. Your gift will go twice as far thanks to a dollar for dollar match from the Condado fund. Give online at marketplace dot org. And thanks this. Marketplace podcast is brought to you by click share and award winning wireless presentation system with click share, and you're meeting. You can share your screen instantly from any device, no more awkward small talk, or wasted time as you wait for tech problems to be fixed. Click share instantly projects any speakers laptop tablet or phone onto a presentation scream so everyone can work together share their ideas and create something great. That's the click share effect. Visit click share free trial dot com to learn more and sign up for your free trial.
Politics aside, climate data is a growing business
"This marketplace podcast is brought to you by click share with click share and you're meeting. You can share your scream instantly from any device. Click share instantly projects any speakers laptop tablet or phone onto a presentation screen so everyone can work together share their ideas and create something great. That's the click share effect. Visit click share free trial dot com to learn more and sign up for your free trial. Understanding climate change is all about the data, and that is a growing business from American public media. This is marketplace. Tech demystifying the digital economy, I'm Molly would. This week. The Trump administration took steps to limit climate science research, within government agencies. It will reduce the timeframe covered by US climate models and possibly stop, including some kinds of projections, like worst case scenarios. This is happening at a time when private industry is trying to increase climate intelligence in our new series how we survive we've been looking at how technology can help us adapt to an understand the risks of climate change and reliable data. Models are a huge part of that effort, Emily magic karate is founder and CEO of the climate data firm, four twenty-seven, which helps businesses determine how extreme weather could impact them and prepare for how to deal with it for many years with the scribe it ourself as comment at farm as well. The first thing for that position is to understand your risk. Right. And so that's really this fundation all data layer that we provide the only differences to private sector, Kohl's resilience and the. Governments Kool aid application. But it's, it's really all moving in the same direction of preparing for those impact. What do the the companies do after you've advised them? I mean, I imagined the simplest answer is don't buy their or don't build their depends. Right. If they already have, or they've already Bill, there's a range of things that they can do that includes sort of hardening from an engineering standpoint their facility, it can be working with insurance to make sure that they're well, covered in case of certain events and adaptation as we described it that will protect, not just this company's facilities versus another, but the entire community including the workers that leave nearby in the roads that bring goods and services. Right. So, whether it's well understood self-interest, or broader community interest. Everybody's better off before will protected. Do you feel like then the work that you do? Because there is this argument that, while the businesses that can afford your services are going to do fine, and everybody else is going to be left to the high water got dark in hurry. But it sounds like. You're saying you see that you see a broader benefit in working with these businesses and helping them adapt and stay where they are. Absolutely. We're seeing we do work with the very large corporations, and they have the power in the wherewithal to be huge influencers in their communities in their supply chains. We're also seeing some of our clients understanding that small businesses are actually going to be much more vulnerable. And so there's a role of local governments and financial institutions to help chunnel this information through smaller businesses are any companies coming to you sort of after the fact does Facebook know that they are going to be underwater in twenty years. I believe they know that. Yes. And we see some of everything we see a lot of companies coming right now, because their investors are asking questions and we see companies combing not so much here. But in Europe in Asia, there's a lot of regulatory pressure and sue both investors in corporations fully expect that they're going to be under regulation. In, in a matter of twelve months pretty much, Emily. Magic karate is founder and CEO of the climate data firm, four twenty seven. And now for some related links the New York Times reported Monday on the Trump administration's efforts to diminish the science around climate change and the kinds of reporting and modeling that previous US assessments have offered. We talked in a previous episode about how the eight country Arctic Council was unable to reach a consensus about its goals earlier this month, because the US delegation objected to climate change language at that meeting US secretary of state. Mike Pompeo, also characterized the Arctic diminishing ice levels as an opportunity for mining, more fossil fuels and said, it would open up new ocean passageways for commercial ships, but he didn't mention climate change in his speech. Scientists said the administration's efforts to undermine the science produced by the US government will paint and inaccurately rosy picture of the next twenty years or so, before significant warming really sets in one told the times that the effort, quote reminds me of the Soviet Union scientists all over the. World. Rely on US data for climate modeling and prediction. But maybe for investors and entrepreneurs moves to limit or downplay that information will only make private data more valuable, I'm Ali would. And that's marketplace tech. This is a PM. Carolina in Brooklyn New York wrote to tell us she's a longtime fan of marketplace tech and appreciates the content and the mission. Thanks Caroline to join her in keeping marketplace tech going strong donate online today at marketplace dot org, and thanks to Carolina, and all the marketplace investors who make our work possible. This marketplace podcast is brought to you by click share and award winning wireless presentation system with click share, and you're meeting. You can share your screen instantly from any device, no more awkward small talk, or wasted time as you wait for tech problems to be fixed. Click share instantly projects any speakers laptop, tablet, or phone unto a presentation scream so everyone can work together share their ideas and create something great. That's the click share effect. Visit click share free trial dot com to learn more and sign up for your free trial.
Hollywood Dream Machines exhibit explores sci-fi vehicles used on screen
"This marketplace podcast is brought to you by the Michigan economic Development Corporation, John Rimini, founder and CEO at airspace. Experienced technology says in Michigan revolution is in the air. Find out what planet is doing to help businesses make that possible at planet m dot com. That's P. L. A. N. E T, M dot com. To solve the scourge of the car. Maybe we have to go back back to the future from American public media. This is marketplace. Tech demystifying the digital economy, I'm Jack Stewart info. Molly would. The future of causes always exciting and always just around the corner. Things like self driving cars have been five years away, for I'd say about forty years now, but there are times when pure imagination is exactly what's needed when vehicles have to be as out there as possible nearly incredible. 'cause or a big part of science fiction TV shows and movies. They're often characters themselves, and someone has to make them I went to see some of the creations of writers directors and designers at a new exhibition at the Petersen automotive museum in Los Angeles. It's called Hollywood dream machines. And there cause from Mad Max Bladerunner and the classic Star Wars amongst others. Brian Stevens is exhibition director at the museum, and he started by explaining how a car designer works with a filmmaker in the use of vehicles in Hollywood productions. There are a number of scenarios, one of, which is the need to design a car from scratch to fulfill the vision of the producers of the directors of the film, in many. Cases though. There are pre existing cars that do just that and there's no need to design a car from scratch, and when it came time to create back to the future just so happened, that this very exotic wild stainless steel bodied car existed. In fact, was very much in the public eye. Do some lawsuits at the time which which made it a perfect option for this particular use in this particular film. Doc. Are you telling me that you built a time machine? The way I see it if you're going to build a time machine into a car, why not do it from style now that we are up close, I can see. There are a lot of wires zip ties parts that look almost unfinished. Yes. Which is deliberate in this case, the producers and directors of the film didn't want something polished, they wanted something that looked like it was handmade in a garage. So you worked with designers of some of these actually put this exhibit together. How important, did they say it is to be accurate as opposed to just be entertaining when the coming up with these visions of the future. I think it's a combination of both if you're projecting fifty years in the future. I think accuracy is, is going to be difficult to achieve, regardless of what you what you propose, but they certainly do want some level of realism when you start getting into science fiction films as opposed to Pierce to pure fantasy films. You do want there to be an element of science basis, you want there to be something that seems even somewhat. Ause -able about what you're predicting. So you have kit here, for example, from Knight rider from what the voice of industry thousands microprocessor K IT for easy reference. A can't. If you prefer, do you think that, that was fully autonomous long before most of us had heard of even the concept of self driving, 'cause it's a 'cause like that an inspiration to real engineers and real designers, I think there's no question that when today's designers were children, watching these television shows in these movies that they are even potentially subconsciously gaining inspiration from what they see. And that's probably part of why we see some of the technologies that are shown in these vehicles. Eventually become real Brian Stevens, taking us on a semi nostalgic semi futuristic, look at the cause of Hollywood at the Petersen automotive museum in Los Angeles, fun facts. I learned from him in the early drafts of the back to the future. Script the time machine wasn't built into a cholera toll. It was built into refrigerator. I'm not sure I would have enjoyed the movie. Quite as much. And now for some related links. Check out the exhibition website if you want some inspiration for movies have been Joan this holiday. I'd forgotten how much I enjoyed some of them the Audi r s q concept from I robot made me want to watch that all over again. And I will be streaming the original Bladerunner as well as twenty four thousand nine to see that vision of Los Angeles with spinners in the dark and rainy skies in terms of making these sci-fi visions come true. The Atlantic has a great story with the headline flying cause a real and then not bad for the climate that describes the efforts to build a new type of electric flying machine that isn't a plane and isn't a helicopter but could fly building to building top skipping city traffic. And it's not just frustrated commuters who could benefit as sea levels rise coastal cities, like Miami, a going to have to go to ever greater lengths to mitigate the impacts of climate change. So we'll also link you to a court. Story about developers in that Florida city who are already designing buildings where rooftop observation decks can be converted into flying, taxi poets, if you didn't catch recent marketplace tech series on climate change at up, by the way, it's called how we survive in the podcasts are online to where we're going. Maybe we really need roads. I'm Jack Stewart. And that's today's marketplace tech. This is a PM. I'm Shepard from Lincoln Nebraska, and I listened to marketplace several times, actually every day because it's got the economic news and developments that are important to me. Donate the marketplace, so that it can be available to everyone and asked her hope. You'll join me in this effort. Thanks to join shepherd is a marketplace investor donate online. Marketplace dot org. This Mike in place podcast is brought to you by evident helping businesses create a solid foundation of trust and safety on their platforms. By seamlessly verifying workers unless time. And with more confidence evident also helps companies stay up to date on any changes to relevant information and readily adapt, if and when compliance requirements, evolve evident is bringing confidence and peace of mind, personal data interactions across the globe. Visit evident ID dot com slash tech to sign up and start running verifications immediately. That's evident ID dot com slash tech.
Can tech help protect aging brains from online scams?
"This marketplace podcast is brought to you by indeed. Are you hiring with indeed? You can post job in minutes. Set up screener questions than zero in on your shortlist qualified candidates using an online dashboard. Get started today and indeed dot com slash marketplace. That's indeed dot com slash marketplace. And Beilin ovo your systems are managed your devices secured, and your company's data is protected. Why because I t is what you do. And because being a difference maker is who you are. To learn more about the ways Lenovo is making a difference for IT professionals. Visit Novo dot com slash Ambi. Powered by Intel core, I seven processors. Everyone can get tricked by a spam Email or an online phishing attack. But older people are especially vulnerable from American public media. This is marketplace. Tech demystifying the digital economy, I'm Ali would. We're all being hit constantly with spam, callers online, phishing attacks scams and other fraud attempts. But there's medical evidence that otherwise healthy older, people might become more vulnerable to these attacks. My colleague David Brancaccio, host of the marketplace morning report has been reporting on how our defenses get weaker as our brains age. He said some researchers are figuring out how technology is used to scam people, and how that same tech could be used to protect them and just spoke with a researcher at the university of Florida Natalie eb ner from the department of psychology there. She and her collaborator, Daniele Oliveira, a computer engineering. Professor wanna know who is especially susceptible to scams, and who is not they sign up older. People I study put in a special browser on their stuff and then sneaky, researchers they creep in fake phishing emails to their tests subjects and the track who falls for the fake scams. Here's Dr EDNA. And almost majority of our sample forty three percent fail for those phishing emails, this included young and older diets, but it was, especially the older women who showed a particular vulnerability to those phishing emails, and most importantly, what we thought was that there was very little awareness of the risks that's terrifying. So they turned out to be vulnerable, but did not think that they were vulnerable and then tell me more about this forty-three percent. The people who fell for this, the most is the key. Right. Who might be extra susceptible so that we can help them protect themselves. It's not really their general health. It's not just the older. You get one interesting finding here older people with what researchers called negative affect where extra susceptible to online scam. So what's that mean? Well, they tested to see if people were having a bad day. Those are the people who seem to be prone to falling victim to these online scams. The people saying, oh, what a beautiful morning were more immune to tell. Me more about Dr Abner is research. It sounds like this is developing toward potentially a product that could help people, right? Yeah. Here's Dr Ed Moore again on a future. Product FDA is to use trophy information about the computer USA, combined this with information. We have about fraud indicators in emails, like how dangerous is an Email? What kind of techniques does it use, and combine this, in a tool, which we plan to call Marlin Merlin, the magician who serves the king would serve you. Maybe in a couple years. They're working on, perhaps a browser plug in which learns your deal, and then flag sketchy stuff with highlights could be bigger font. Suddenly or alarms go off way beyond what we currently consider spam filters David Brancaccio host, the marketplace morning report, you can find his coverage, and practical tips for protecting yourself from online scams, at our website, marketplace dot org and David has a one hour special brains and losses. The bottom line on aging and financial vulnerability, and that will be airing on public radio stations nationwide in the coming days. And now for some related links. You heard us talking there about the idea of cybersecurity product that could potentially detect fraud or phishing, attempts and warn people. Well David, and I had a little chuckle about how everybody I'm marketplace spent something like four hours doing cybersecurity training here at work, and we would all love browser plug in instead. Hey boss, but the fact is anyone can fall for these attempts and cybersecurity threats are getting way, more sophisticated and comment. This city of Baltimore has been struggling to recover from a ransomware attack almost two weeks ago. Hackers took control of city services, like utilities payment systems, Valence cameras real estate processing, and on and on and refused to release them unless the city paid a ransom most of the time attacks. Like these are the result of a successful phishing scam for social engineering. A report in wired said this week that both the democratic and. Publican national committee's still have major cybersecurity issues, and so do European political parties on Tuesday, a school in Ohio, had to send all its students home, because of a malware infection that crippled the school's technology Salesforce had the worst outage in its history late last week. You're getting the picture here in some ways, we're all losing the battle against hackers and over in Washington. The department of homeland security is apparently asking some of its cybersecurity employee's to volunteer to relocate to the US Mexico border to deal with border security. I'm Ali would. And that's marketplace tech. This is APN Carolina in Brooklyn. New York wrote to tell us, she's a longtime fan of marketplace tech and appreciates the content and the mission. Thanks Caroline to join her in keeping marketplace tech going strong donate online today at marketplace dot org, and thanks to Carolina, and all the marketplace investors who make our work possible. This marketplace podcast is brought to you by with Sabi hot cloud storage, thinking about moving your data storage to the cloud with saw the enterprise class. Cloud storage, at a fifth of the price of Amazon S three and up to six times faster with no hidden fees for egress or API requests, who saw these low cost high speed fully secure storage blows away the competition, including Google, Microsoft distribution starts here. Do the math for yourself and start a free trial. It was Sabi dot com.
Ethical hacker is a big and growing job
"This marketplace podcast is brought to you by vast a global cybersecurity company trusted by over four hundred million people avast is dedicated to protect you online. So you can connect to the internet confidently avast keeping the world safe from cyber attacks. Visit them at a vast dot com. And rather Michigan economic Development Corporation, Evan lie. All of rush enterprises is a big fan of Michigan as he put it the future of mobility, is going to be decided right here in the state is a planet dot com to find out why that's P. L. A. N. E T, M dot com. A job where you get to act like a criminal, but for noble causes to have a career change to ethical hacking from the American public media. This is marketplace. Tech demystifying the digital economy. I'm jed Kim in for Molly would. So you've got your computer science degree, your coded masterful. Now an elder of the internet comes to you holding a black hat, and a white one. We'll you hack to steal and disrupt or will you work to stop the bad guys. Which will you choose in reality? The distinction isn't really that clear entered the role of the grey headed or ethical hacker. Gary Rivlin is a journalist and author of the new book becoming an ethical hacker. It's part of the masters at work guides to interesting careers riven sat down with several of the fields, top information security professionals, a quirky and fascinating bunch. He says they're out to do good. But there are practical rewards to the draw would start with the salary and the demands cyber security folks are paid even more than the typical programmer. The demand is off the charts the world last year was talking about this study that saying that there's going to be a need for more than three million cybersecurity jobs across the. Planet. Those of us who are on computers, living, our digital lives. That's frightening to anyone who wants to get into cybersecurity as profession. That's certainly good news. There always be demand in your book. You spoke with half a dozen or so cybersecurity experts. What did they tell you is the hardest part of their job to me? It's what they call the defenders dilemma as a defender you have to win every single day. The attacker only has to win once so it's a really, really stressful job because one breach, and it negates every positive day you had up until then there's a puzzle aspect. You know you need to be created. There's no off the rack solution as the cybersecurity people ethical hackers. I spoke to you have to think like a black headed hacker. You have to kind of put yourself in their shoes. How would they get into the system? To you point in your book that amongst the hackers and the cyber security experts. It's more stude- mail. Why is it important to get more women into these positions? Well, so there's this notion that you have to think like a hacker. Well, if all of the computer security, people are white men who live in the United States, that's leaving out a whole lot of people who would like to break into our systems, we just need diversity, not just as a nice goal though. It is an important goal. But just for more practical reasons I mean as bad as the numbers are for programmers, generally, like roughly twenty percent programmers, give or take a women nowadays. The underrepresentation is worse in cybersecurity, and we can do better in and we need to do better. Gary Rivlin is a journalist and author of the new book becoming an ethical hacker. All of. This might remind you of the nineteen Ninety-two film, sneakers in which Robert Redford leads a rag tag team of noble thieves. I brought up the comparison with Gary and he says, it's one of his favourite tech movies, along with war games. And now for some related links interested in reading, Gary Rivlin's book. It's fun quick read, especially if you're into heists another big takeaway, the path ethical hacker is buried and winding. There's the former journalist the child prodigy the NSA guy, the Wall Street Journal recently got a look into the security team at IBM code named x force read apparently demand in the field has grown so much so fast that, quote, his team of corporate hackers contains more music majors than graduates with security degrees, given the dearth of collegiate programs that focus on the quickly evolving field and quote turns out, you can get certified as an ethical hacker. The council offers several courses including forensic investigation and penetration testing just a heads up the final test to become a licensed penetration. Tester is eighteen hours long. E Andy news has a post mortem on the first cyber attack on the US 'electricity grid pack in March, no blackouts. Like there were in Ukraine in two thousand fifteen but the threat is real people. And finally, trust me, sneakers is not only a great film. It's practically prescient when it comes to this topic don't believe me, birth movies, death dot com. Hasn't analysis, there's the phrase, most undervalued movie of all time. I agree. I agree. I'm jed Kim. And that's marketplace tech. This is a PM Patrick in Santa Cruz, California wrote to us to say marketplace is an essential element in his life, and that we're helping make him smarter through high quality thought provoking and informative journalism to join Patrick, and supporting what we do. Please donate online today at marketplace dot org. Thanks to Patrick, and all the marketplace investors who make our work possible.
Who pays for the tech to survive climate change?
"This. Marketplace podcast is brought to you by ultimate software dedicated to putting people first with innovative solutions for HR payroll and talent management. Learn more at ultimate software dot com. Ultimate software people first and by click share with click share, and you're meeting, you can share your screen instantly from any device, click share instantly projects any speakers laptop, tablet or phone onto a presentation screen. So everyone can work together. Share their ideas and create something great. That's the click share effect. Visit click share free trial dot com and learn more and sign up for your free trial. We're going to survive Lima change private money and entrepreneurs have to get game from American public media. This is marketplace tech demystifying the digital economy. I'm Molly would. We're continuing our new series on marketplace tech called how we survive about. How technology can help us adapt to climate change. And here's the thing about that. It's expensive the UN puts the total cost to society at fifty four trillion dollars at a minimum by the end of the century. So arguably what we need now is money to create innovative technologies to help survive. The worst effects of warming Jayco is managing director of the private equity firm light Smith group, a firm that's hoping to find an invest in some of those technologies, and he says there aren't many others like it. I think it's one of the earliest attempts to try to look at of teaching resilience as an investable opportunity. Most money so far has gone toward mitigation trying to reduce emissions and improve energy efficiency or toward recovering from disaster. And the bulk of that spending is driven by governments or nonprofits if you look at the global tracking of climate finance lists and five. Two six percent of all finance in the climate universe can be tributed what's called agitation or climate resilience. And so far the private sector has almost no skin in the game. But co says the need for funding is staggering three hundred billion dollars a year by twenty thirty in developing countries, alone and only growing so on the one hand private money is going to have to step in without being able to harness the flow of private capital from the private sector. We're going to face a much much more challenging experience with the effects of climate change flowing through over the next several decades and potentially the next several generations. And on the other hand, there is money to be made from companies that can come up with great solutions and scale them. Our rule is to find companies like that with great management teams already growing that can then be excel rated in their growth that will generate better returns for investors and also a better outcome for society. Okay. So but next question, what do you find co says he's looking at two possible catego-? Oris for investments, which he calls. Macgyver. Maclay? Macgyver used what he had to get out of jams. Looks like it might be Thurmond, Bob. So that's climate intelligence. Like, we talked about earlier this week or things like artificial intelligence for modeling risk to buildings and real estate. Then there's taking technology. We already have transferring it to different parts of the world, and scaling it. Up like, drip, irrigation or drought resistant seeds or cheap. Internet connected sensors for water metering but more available and cheaper. Now. Marnie MC fly from back to the future. Could use tools from you know, the future to change things. And so that means investing in entrepreneurs with crazy, moonshot ideas or materials, we haven't invented yet or just innovative ideas. I say distilling clean water from the air at any house or school or building anywhere on tomorrow show will look at a little macgyver and a little MC fly. And now for some related links. If you are not already you should totally subscribe to make me smart. The other marketplace podcast that I'm on with KAI Ryssdal. We did a crossover episode this week about climate adaptation with Solomon Hsiang, a professor of public policy at firstly who studies the economics of climate change adaptation, and in my opinion. It is a great episode. Jane brought up this really interesting idea of opportunity cost related to add up tation and resilience. He said that basically because of climate change the cost of just survival is getting higher, whether that's hardening infrastructure or disaster recovery or building new seawalls or AI sewer systems, and that leaves less money for other things in our society, like schools or firetrucks or the tech innovations that will need to make life easier or even possible over time other interesting reading on money and climate change last month to central. Bankers wrote an open letter about climate related financial risks. And how in fact climate change is a severe threat to the global economy. And I just learned there's a Sirius XM radio show called knowledge at Wharton, which probably also makes you pretty smart and on the most recent episode two professors from the university of economics and business talked about that letter and the potential economic impacts long term, and I really want this series to be focused on solutions in kind of a hopeful way. But in slightly bummer news earlier this week. It was confirmed that global carbon dioxide levels have hit their highest number in human history at four hundred fifteen parts per million. Scientists say that was probably last the case around three million years ago when sea levels were at least fifty or sixty feet higher and the Greenland and west Antarctic ice sheets. Probably did not exist so solutions, then I'm Ali would. And that's marketplace tech. This is APN Patrick in Santa Cruz. California wrote to us to say marketplace is an essential element in his life. And that we're helping make him smarter through high quality thought provoking and informative journalism to join Patrick and supporting what we do. Please donate online today at marketplace dot org. Thanks to Patrick and all the marketplace. Investors who make our work possible. This marketplace podcast is brought to you by click share, an award-winning wireless presentation system with click share and your meeting, you can share your screen instantly from any device. No more awkward small talk or wasted time as you wait. For tech problems to be fixed. Click share instantly projects any speakers laptop, tablet or phone onto a presentation screen. So everyone can work together. Share their ideas and create something great. That's the click share effect. Visit click share free trial dot com to learn more and sign up for your free trial.
In a changing climate, how can tech help us survive?
"This marketplace podcast is brought to you by. Indeed, are you hiring with? Indeed, you can post job in minutes set up screener questions than zero in on your shortlist. Qualified candidates using an online dashboard get started today and indeed dot com slash marketplace. That's indeed dot com slash marketplace. And Beilin ovo your systems are managed your devices secured and your company's data is protected why? Because IT is what you do. And because being a difference maker is who you are to learn more about the ways Lenovo is making a difference for not professionals Villanova dot com slash M B powered by Intel core, I seven processors. In a changing climate. How can tech help us survive? It's a new series for marketplace. Tech demystifying the digital economy. I'm Ali would. Vimal change is here this week. We're launching ongoing coverage of how tech can help us adapt to it in a series. We're calling how we survive the change is evident in increasingly extreme weather all over the globe. A UN report last week said a million plant and animal species are on the verge of extinction. And warming is speeding that up and the UN's intergovernmental panel on climate change, the IPC said last year that our current rate of warming will cause fifty four trillion dollars in damages and that its effects will be increasingly deadly climate. Scientists say the trajectory is clear, I could write six more IPC assessments. They're all going to say the same thing. William Collins is a climate scientist at the Lawrence, Berkeley, National Laboratory, who has authored several such reports they're leading an very straight law. And and that's the reason why the scientists are eager to stop writing reports and start diving into creating solutions. So. Far much of the investment around climate change has been related to mitigation or slowing carbon emissions and reducing temperature rise that is not going away. But Collins and others are now talking much more seriously about adaptation, the data engineering and the technology to keep surviving in a changed climate. You can look sure people all day long about what they should do. I really wanna pivot from twenty people what they should do to showing them what they can do about a year ago Collins founded the environmental resilience exceleron or to start researching solutions for adapting to climate change. One of its first projects is taking a city block in Oakland and installing solar panels and grey water technologies charging stations for electric vehicles and seeing how that makes the area self sufficient in an increasingly uncertain environment for private investors climate adaptation is both an opportunity and an imperative Jayco is managing director of the private equity firm light Smith group, I and four. We need to recognize the climate change is a humanitarian disaster. So before we get to the how awesome is it to make money off of this part of the discussion, you know, let's just pause for moment. And recognize that this is a bad bad problem. Choas farm as one of the very few focus specifically on investing and adaptation technology. He says governments alone can't afford all the solutions that will need private money will have to fund companies to build new technologies or help transfer existing tech to cities and countries that need it. But he says we don't have all the answers yet part of the challenge here has been when most people try to imagine what adaptation means they think of giant sea walls around Manhattan or putting domes over cities or some kind of futuristic Jerry bruckheimer scenario, where nowhere near some of that technology. And in fact, co says the first step in adapting to climate change is what he calls climate intelligence understanding the scope of the problem predicting, it's impa-. Tacts and getting everyone to use the same data. So tomorrow on the show. We'll look at one intelligence gathering effort happening at the global level with a visit to NASA. I'm Ali would. And that's marketplace tech. And now for some related links. There is of course, so much to say about this topic. And honestly, our coverage is probably going to evolve along with the conversation. So first of all here's some of the nuts and bolts about how this series will work for the rest of the week. We're going to talk about the data gathering efforts the money some of the early tech. And why talking about climate adaptation is a little bit controversial after that. We'll have a story every two weeks at least until the fall. But obviously, this isn't a topic that is going away and over on our website. Marketplace tech dot org. We've got a little bit of a reading list to get you started MIT technology reviews. Latest issue is all about climate change mitigation and at station. It's got a ton of good information intact and one huge aspect of this conversation is one of our favorite topics on this show, the uneven distribution of technology, a WBU our story out of Boston last week talks about fears of. Quote, green gentrification as that city works to become more resilient to flooding and sea level rise late last month. The Environmental Protection Agency put out one hundred fifty page document telling local communities to start planning. Now for the fact that natural disasters across the country are going to get a lot worse. And that is a rare admission of the effects of climate change from the current US administration. In fact, last week, the intergovernmental Arctic Council, which is made up of eight Arctic countries and regional groups, including the United States couldn't reach a consensus after its latest meeting, reportedly because the US delegation didn't want its priorities statement to include language about climate change. I'm Ali would. And that's marketplace tech. This is APN. Over the past few months you've been hearing divided decade our year long project covering the great recession, and it's ongoing impact. As a nonprofit news organization. We believe this kind of in depth. Reporting is essential to help people understand the economic forces that affect our lives to support this important work. Please go to marketplace dot org to become a marketplace investor with a donation of five dollars or more. Thank you. This. Marketplace podcast is brought to you by Sabi cloud storage, thinking about moving your data storage to the cloud who saw the enterprise class cloud storage at a fifth of the price of Amazon S three and up to six times faster with no hidden fees for egress or API requests who saw these low cost high speed fully secure storage blows away the competition, including Google and Microsoft distribution starts here. Do the math for yourself and start a free trial. It was Sabi dot com.
Will drivers cash in on Uber stock when the company goes public?
"This marketplace podcast is brought to you by. Indeed, are you hiring with? Indeed, you can post job in minutes set up screener questions than zero in on your shortlist. Qualified candidates using an online dashboard get started today and indeed dot com slash marketplace. That's indeed dot com slash marketplace. And by lodge, analytics lots of business intelligence vendors claim their software is the best, but they can't all be winners. Logic analytics is offering five reports from analysts like Gartner and Dresdner comparing twenty-six BI vendors get help folks in your valuation, prioritizing features and determining what solution fits your tech stack. Visit lachey analytics dot com slash tech. To claim your free reports, that's L O G I, analytics dot com slash tech. Movers early employees will make a lot of money from its IPO. But we'll drivers cash in on the stock to from American public media. This is marketplace tech demystifying the digital economy. I'm Molly would. Uber is going public tomorrow listing its shares on the new York Stock Exchange some employees of the company stand to make millions even billions of dollars and Uber is giving drivers with more than twenty five hundred rides on the platform. Cash bonuses that they can use to buy stock at the initial public offering price the amounts ranged from one hundred bucks two maybe up to forty thousand dollars depending on how many rides at driver has. But how much of a benefit is that two drivers who are already unhappy with their pay Shaly Ramirez, drives for Uber. She's eligible for the stock. But says I don't think it's enough. I think they're China throw crumbs at us at the end of the day. What we need is something that is guaranteed on a weekly basis on a daily basis on a yearly basis. On Wednesday in New York City Ramirez and other drivers protested outside Uber's headquarters calling for higher wages from Uber, and lift and better treatment, they were similar protests all over the country Ramirez drivers simply need to make more money. That stock is not going to stop us from becoming homeless that stock is not going to have that help pay our rent and care for our children. So they need to come up with something a little bit better than that. One academic says the ideal scenario would be for companies to give drivers equity before the company goes public as if they were engineers or product managers designers. A Cinderella Zhang is an NYU professor who wrote a book on gig employment and how it's changing the economy. He says securities law hasn't really caught up with the gig economy. The challenge for the privately held company is that it's extremely complicated to have hundreds of even thousands of people who don't have sort of a strong relationship or an employment relationship or onto credited investors to own sort of small numbers of shares in a private company, but he says he thinks the law will involve to allow private companies to give equity to their part time workers that would be a nice outcome. It would be sort of reflective of the fact that the made important. Tribulations to lake you know, the evolution and success of the company. Now, of course, having stock in a company doesn't mean you'll actually make money when it goes public lift also led drivers by shares when it went public, but its stock price has fallen since its public debut. Some drivers like J crater who also writes about the rideshare industry are pragmatic. You know, I think if you have the right mindset, it's it's not a problem. I mean, this is the relationship we have I am an expense. And they're gonna try and do everything they can to pay me as little as possible when Burgos public this week. It says it will reserve five point four million shares about three percent of its offering for drivers to buy with their cash. Bonuses, anything they don't buy. We'll be returned to the public market. Related links lift reported its first earnings as a public company on Tuesday. And although it gave a generally encouraging report it also held back some information that it used to give investors like the number of total rides and bookings. It had in the previous quarter, which is obviously fairly useful indicator of whether the service is growing, and I mean lift also lost over a billion dollars last quarter, which is more than it lost an all twenty eighteen, but okay, investors were mostly worried about the lack of data lift shares closed at an all time low on Wednesday, but lift did in partnership with Waymo the self driving car company owned by alphabet, which investors do like because they don't wanna see the company get put out of business by someone else's army of self driving cars, although obviously long-term that's not great news for drivers either. Because if the cars drive themselves who needs a human. I'm Ali would. And that's marketplace. Tech. This is a PM. Hi, I'm Zach and I listened to marketplace in Arlington Virginia. I think what I appreciate the most about marketplace's their ability to take the economic news of the day issues such as tariffs rate hikes and tax reform cut through the political noise, and clearly and concisely explained not only how these issues affect our country and the rest of the world, but how they impact people like me. I hope you'll consider joining me as marketplace investor and donate today at marketplace dot org to help make their work possible. Guess marketplace podcast is brought to you by low G planning to update the dashboards and reports in your application lutts of business intelligence vendors claim their software is the best that they can all be winners. Loggia analytics is offering five reports from analysts like Gartner and Dresner comparing twenty-six BI vendors get help focusing your evaluation. Prioritizing features and determining what solution fits your tech stack. Visit loggia analytics dot com slash tech. To claim your free reports, that's L O G I, analytics dot com slash tech.
"marketplace dot" Discussed on 860AM The Answer
"And they are in Gavaldon this messaging more, but I am very proud that they are sponsor because they are taking on big pharma and somebody needs to. Here's what Kimberly Adams wrote in the marketplace dot com yesterday, one of the few areas in politics with a measure of bipartisan agreements, the issue of prescription drug pricing. The Trump administration congressional Democrats and Republicans all agree. Prescription drug prices are too high and that something should be done to slow their rapid rise. Pharmaceutical industry were called before congress earlier this year to explain their pricing practices in the industry is currently the target of a major ad campaign by the AARP. Now, the Arp is not my sponsor. So this for truth and drug pricing is but this quotes are Kimberly. Atkins Adams quotes, are we know our members take on average between four and five prescription a month said David Certner legislative council for AARP which claims membership of thirty eight million people over fifty it's obviously a huge cost for them in one of the biggest out of pocket costs. They have. AARP is using its own platform, magazines, letters and websites to mobilize members who are part of a demographic that tends to vote more and make more political donation than other age groups, but the ad campaign is other targets as well. We're targeting members of congress and elected officials here in Washington DC or going to be the decision maker Certner said we're also targeting state officials who are working around the country in different state levels for people to take action on top of the ad campaign. AARP spent more than eight million dollars lobbying congress last year big pharma, the industry's main lobbying lobbying group, and this is again in marketplace dot com spent twenty eight million dollars the multibillion dollar industry, which according to pharma employees, eight hundred thousand people good I'm glad they do. They do not need. They do not need exorbitant drug prices to do what.
Will virtual reality films ever go mainstream?
"This marketplace podcast is brought to you by vast a global cybersecurity company trusted by over four hundred million people avast is dedicated to protect you online. So you can connect to the internet confidently avast keeping the world safe from cyber attacks. Visit them at a vast dot com. Moviemakers are still trying to find out if virtual reality works for movies from American public media. This is marketplace tech demystifying the digital economy. I'm Molly would. The Tribeca film festival is happening in New York City and this year, it features more than thirty virtual reality movies slash experiences for both movie fans and future be our filmmakers to check out virtual reality films are becoming a bit of a festival mainstay since Oculus brought its first production to Sundance back in two thousand fifteen but VR movies still aren't anywhere near the mainstream. Marketplace tech producers Stephanie us went to the Tribeca film festival to see how some filmmakers still believe in the magic of VR watching a movie in virtual reality involves a lot of stuff being against the headset. When you want it does it you just move it up and down the Lamar Tate is stationed outside the VR film. The key at the terrific film festival. Audience members go in one at a time the standard small dark room, but they're not alone. There is a live actor at all times inside of the room with you. They might touch you just for safety reasons to keep you away from. The walls you might run into walls. Because when you're in the film, you can't see the real world, you're truly immersed and the characters are prompting to walk around with. I want to remember where the key comes from. And what it needs. Maybe you can help me. I think VR is an incredible medium shoe creates memories. It's trike heart is the director of the key which is meant to convey in sort of a dream Lakeway. What it's like to be a refugee we want people to feel like this leap through the journey themselves. But trekker police it for VR to take off the headsets have to get cheaper and people have to well, put them on a friend of the tech. My parents, for example, it was like. You know, and I really had to walk like, I was very insistent newly to learning Tribeca offers VR as part of its immersive film track. Lauren Hammonds is a festival Curators festivals. Play an important part in the ecosystem of launching this work. So the idea of LBJ or location based entertainment is so important to getting audiences. Getting is on this work as part of a long tradition. I'm getting used to innovations in film, like when Thomas Edison's movie, the great train robbery came out in nineteen zero three motion pictures were very new and film historian. Marc Wanamaker describes how one audience member reacted to an actor breaking the fourth wall. George barnes. Who was the star of the great train robbery turns toward the the audience. Pulls his gun looks at the audience and pulls the trigger and then someone in the audience stood up and shot back. But it didn't matter that movie in ended up being a hit VR still waiting for its blockbuster. That's marketplace. Tech producers Stephanie Hughes, we'll see if any studio deals come out of Tribeca. But last year at Sundance of ER distribution company bought a three part virtual reality space series for one point four million dollars and later released it for Oculus. So there's some money out there. And now for some related lakes. There's an interesting piece in wired about the Tribeca festival and these big immersive installations, they're trying out this year with a live actors like Stephanie mentioned it suggests that maybe the future for VR movies is actually more like a museum piece a real world experience where you enter a virtual worlds instead of entering a virtual world alone in your basement with a five hundred dollar headset, which is all very interesting. But it also shows you just how far away we are from figuring out how this medium is supposed to work wired also has a story from earlier this month about not mixing bleed and virtual reality, which seems like a good PSA, you'll find both of those links at our website marketplace tech org, and look it might feel like VR is a slow roller. But I found a research report in the motley fool Tuesday that said it generated three point six billion dollars as an industry in twenty eighteen super data research estimates that number could be. Sixteen billion dollars by twenty twenty two. So yeah, companies are still at it. In fact, Facebook announced Tuesday that it's releasing its standalone Oculus headset. The Oculus quest on may twenty first the quest needs. No, computer or game console to operate. It costs four hundred bucks, and it will launch with over fifty games. Maybe this'll be the one I'm Ali would. And that's marketplace tech. This is a PM. Caroline in Brooklyn, New York wrote to tell us, she's a longtime fan of marketplace, tech and appreciates the content and the mission thinks Caroline to join her in keeping marketplace tech going strong, donate online today at marketplace dot org, and thanks to Carolina and all the marketplace. Investors who make our work possible.
Online retail has all the advantages over brick-and-mortar stores, right?
"This marketplace podcast is brought to you by vast a global cybersecurity company trusted by over four hundred million people avast is dedicated to protect you online. So you can connect to the internet confidently avast keeping the world safe from cyber attacks. Visit them at a vast dot com and by evident, helping businesses create a solid foundation of trust and safety on their platforms by Cemil verifying workers in less time. And with more confidence evident is bringing competence and peace of mind to personal data interactions across the globe. Visit evident ID dot com slash tech to sign up and start running verifications immediately. That's evident ide- dot com slash tech. Online retail has all the advantages over brick and mortar stores. Right. Well, maybe not from American public media. This is marketplace tech demystifying the digital economy. I'm Jack Stewart in for Molly would. Amazon has built its empire in lodge pots on one transformative promise your stuff shows up in two days. And nearly a third of the US population has signed up for prime at one hundred twenty dollars a year. This mere instant gratification was forecast to be a very large nail in the coffin for brick and mortar retail, but all those physical spaces still have some advantages over the online giant mainly that there already near people. Amazon is expanding its delivery options with lockers bundled deliveries on a set day and this week a partnership with Kohl's. Yep. An actual store to handle Amazon's returns. Chris Hess is a logistics expert. He is designed supply chains Amazon, and he says the company doesn't just experiment wildly Amazon does lots of data analytics before they jump into anything. The ideas. A lot of them come from their customer service listening to the lines and doing data analytics what customers are saying. And then it goes into Ken, we make the supply chain. Do what the customer is asking for. Does it cost us more? Does it cost us less than what our current state is? And if it costs us a little bit more, what are the potential other benefits like convenience environment in those types of things. And then when they have enough to say directly, it makes sense they're going to go out and pilot to see if it works and then tweak adjust in ramp up fast. If it looks like it's got promised. And it definitely is convenient to get the things that you want in as little time as possible that, you know, a couple of days to have things delivered to your house, but that's to be expensive Amazon spends billions of dollars on shipping every year. So some of these moves actually about saving money. Well, I think Amazon looks at it a little bit broader picture is that all the brick and mortar stores and clerks and distribution networks behind them to get stuff to that show for you to drive to in by. And so they look at it as hey, we have all this money that we don't have invested in bricks. Order and stock clerks and those types of folks to do those jobs, so we can use that money to pay for transportation costs directly to your home. And some of these bundling things in lockers are just ways to reduce cost for folks that don't really need it in two days. But because they have prime hit the button do that what sort of pressure? Does it put on on competitors? I mean, they have seemed to have made this sort of two day delivery, the standard expectation now. I'm they absolutely. I think you see different things going on, you know, especially in the brick and mortar area with the likes of WalMart. Now with you know, order online swing by new way home to pick up at the store already picked impact. In somebody's gonna come out, and basically place it in your trunk for you. Right. Other companies that are brick and mortar are moving inventory out of their back rooms, and creating the film and operations in their back rooms and pains them they're on the way home to deliver packages for them to try and reduce delivery costs because they're already. Within three to five miles of most of their customers in that area from that store location. Chris has his now director of supply chain solutions for ten co logistics. He says expect more experiments and delivery choices. But to delivery is still Amazon's mainstay. Now for some related links. The idea of stores using that stuff to do deliveries on their way home sounds like an intriguing way of getting stuff to people without having to build a whole new network, but we're going to link you to an article from retail dive, which says WalMart had to go back to the drawing board after its first attempt to do just that also at marketplace tech dot org. A report from Reuters saying that the biggest challenge it faced was getting associates volunteer despite extra pay because they were worried about using that personal vehicles. Walmart is reportedly trying again with a revamped but much more limited scheme. And of course, we can't mention the future of deliveries without talking about drones after all the hype all started. When Amazon's Jeff Bezos promoted the idea in a sixty minutes interview back in two thousand thirteen well this week alphabet Google's parent company. Got the go ahead to start 'Delivering goods in rural Virginia and UPS is also flying blood samples from hospitals to labs via drone in a pilot program in North Carolina. We have details from the New York Times. And wired now performing medical deliveries. Sounds like stakes would just be a lot higher than for dropping off paper towels and pizza, but it is potentially also easier to sell a project local authorities and residents if you can call it potentially life-saving, I'm Jack Stewart, and that's marketplace tech. This is APN Carolina in Brooklyn New York wrote to tell us she's a longtime fan of marketplace, tech and appreciates the content and the mission. Thanks Caroline to join her in keeping marketplace tech going strong, donate online today at marketplace dot org, and thanks to Carolina and all the marketplace investors who make our work possible. This marketplace podcast is brought to you by the university of San Francisco at USF, you can study the new digital economy from its ground zero surrounded by the firms that built it and the startups that will create the next revolution. Their new masters in applied economics is a stem designated program that combines economics training with the practical skills and data analytics needed to understand the new digital economy to learn more and get an application fee waiver. Go to USF C, A dot EDU slash marketplace.
"marketplace dot" Discussed on KQED Radio
"About ten jobs in my twenties. I answered phones at an investment Bank. Got a job working at a video Stein handed out ID badges at conference predators. Shred an entire file rooms worth of HR papers. I worked at the mall downtown, Chicago and microwaved eggs for businessmen on their way to equinoxes. I've never kept a job for more than a year. I get to a point where I just can't. I can't go to the desk anymore and something inside me is just like you have to go you have to leave this. This is like danger. I'm nervous that if writing novels becomes a job. I definitely gonna start painting to write novels, but it is something I I like to do. I'm just not used to it. I mean, I'm much more comfortable identifying as the person who microwaves eggs at the mall. Holly butlers latest novel. The new me is out now, and you can tell us about your economy at marketplace dot org. This final note before we go.
"marketplace dot" Discussed on Marketplace All-in-One
"Wanna see what can may have looked like you can go to our website marketplace dot org if you wondered where you came from beyond calling up your oldest relative or combing through a family tree a whole industry has popped up to help ancestry dot com twenty three and me and the like but if you're not white well it's harder as michael kim in chicago found out the ancestry dot com kit spitting a tube and sent it in to figure out if there are any skeletons in my closet i'm korean at home growing up we had this lead the round book must have been six inches thick that i think is like the national registry of every clan there is so i was hoping for some sorta surprised if not you know maybe just confirmation that i truly am one hundred percent korean like my parents always told me i got an email your results in so like receiving a college admissions letter like oh you know flicking clicking clicking log in and see what what the results are i click in and lo and behold they said you are one hundred percent asia was accompanied by a map of the world with the continent of asia circles saying your from here it's like one quarter of the earth area circled by a yellow highlighter there i guess at some level it was initially funny but have another level was also just kind of disappointment he's link at the at the very minimum they can drill down a little more than asian it's like taking chinese guy in casting japanese guy movie just kind of lumps all asians together and here's kind of reinforcements from the website.
"marketplace dot" Discussed on Marketplace All-in-One
"Now you can buy crop insurance to cover a lack of rainfall but you know maybe it's harder to have control over the political process and there's more political risk president trump proposed cutting crop insurance by around twenty six billion dollars in his fiscal twenty nineteen budget the house farm bill being considered today looks for a less drastic trim of around one hundred sixty one million dollars in washington i'm nancy marshall genzer for marketplace justice you can't on marketplace for reliable in depth news and information we're counting on listeners like you to invest in what we do the more people who support marketplace the more that we can do to raise economic intelligence across the country you'll reap the rewards every time you listen knowing that you're helping marketplace make people smarter about the economy and wildest matters and here's the thing your donation now will be matched dollar for dollar when you give today thanks to a generous challenge from our friends at can dida become a marketplace investor at marketplace dot org and thanks for making a difference justices on the us supreme court had especially tough questions for south dakota yesterday and that state's quest to force out of state online retailers to pay state and local taxes case the could define state and local funding and american retail for generations mark walsh is a veteran supreme court watcher and a contributor to scotus blog one member of the court who kind of invited this challenge to the court's precedent in this area that's justice kennedy and several other members of the current quarter on record as perhaps being in favor of overruling that earlier tastes known this quill corporation versus north dakota so maybe the conventional wisdom that south dakota was going to get a warmer reception in the court than it did get yesterday.
"marketplace dot" Discussed on KQED Radio
"They have selling shareholders and every other share that's held by the insiders is locked up for a period of ninety to one hundred eighty days ninety days after the ipo shares that weren't offered during the actual initial public offering go onto the market and are eligible to be sold and what you see a lot of times is that day plus one is a whole lot of volatility and sometimes you get really good pricing that brings us to the fourth thing companies will generally put out a document called an s one which if you are going to participate in an ipo you absolutely positively should read an s one is a document that's filed with the sec that basically the company says we intend to go public and these are the things that you need to know about how the company has performed to date here's what the risks are so on and so forth but the thing that you have to know even with companies that provide the best level of information is that they have not i had to provide the type of information that they're expected to as a public company to their private investors and so the amount of information that you have on different segments within the business levels of profitability is somewhat limited and to me that's a real risk and the last thing you ought to know if you feel like you missed an ipo it is almost guaranteed that you're going to see a better price not even down the road way down the road in the next year since one thousand nine hundred eighty there have been over eight thousand eight thousand two hundred ipo's in the us market over seventy percent of these have traded at some point in the next year below their ipo price so if you're feeling impatient about jumping on an ipo just recognize that in the long term you're probably not missing out on much in the great thing about the public markets is that they tend to be open almost every day so it wants company is public it you know it tends to stay public so there we have it five things you need to know about initial public offerings from bill man of the motley fool and if there's some finance jargon that's confusing to you let us know and we'll explain we are weekend at marketplace dot org.
"marketplace dot" Discussed on KQED Radio
"To be substantially more than what they would be able to do itemizing so he and his clients are looking at new ways to take full advantage of the tax system can we move contributions to different year double them up all of which means that as jim is doing a lot more mental aerobics right now it's so different many ways it's almost requiring a shift in our mindset we used to have almost automatic answers to people and now you have to stop and think it through a little bit more the more i get into it the more i realize what's interesting every time you've got a puzzle to saul and that's essentially what this is in the in the puzzle for every person is different the pieces fit together differently and so there's a lot to think about where every time we look at a client and then there's the question for business owners of what kind of corporation to be here's arthur our back in atlanta georgia they're asking questions now do i keep the core war do i switch to a sequel or go back to win individual proprietorship which one of those options is going to give me the lower tax which type of entity chile should i pick and that's not a very easy decision anymore also concerned about the way state and federal taxes are going to interact in his state the big problem here in georgia is that you are stuck on georgia depending upon which method you picked for federal return because the increase in the federal standard deduction means that they will get a benefit on the federal return but in georgia that means they get stuck with the very very low state standard deduction here these changes may seem stressful for those of us with little experience filing tax returns but for our back at application is part of the job where i like to tell people is when i started in practice i was six six now i'm five four and fifty five years getting pounded on all over the place that's what happens willie following all the ways the new tax law affect our lives in the months to come and if you want to share your experience just email the show where weekend at marketplace dot.
"marketplace dot" Discussed on Marketplace All-in-One
"Objective trustworthy journalism matters we hear from listeners like you every day that marketplace helps you understand the financial forces that affect our lives so that you can make better decisions that this is your chance to be part of our efforts to raise economic intelligence across the country when you support marketplace today your donation will be matched dollar for dollar dollar for dollar by our friends at the kendedafund as a nonprofit news organization we're counting on your help so that we can continue to grow in keep getting better don't miss out on this chance to make your donation go twice as far become a marketplace investor today in whatever amount is right for you you do it by going to marketplace dot org fifty years ago today president lyndon johnson signed the civil rights act of nineteen sixty eight it's also known as the fair housing act because the law made it a federal crime to deny housing based on a person's race color religion or national origin since then protections for gender disability and families with children have been added but housing advocates say another form of discrimination is still a barrier for many low income people marketplace's amy scott reports from our desk at white wpro in baltimore twelve years ago jill williams had a stroke that left her unable to work she ended up homeless living between shelters and her car then in two thousand sixteen she got a section eight housing voucher for veterans she'd served in the coast guard after ten years of homelessness and being on the street it was tremendous hill but when she tried to use the voucher traveled to several apartment complexes and constantly heard the word no in baltimore county and much of the country.