36 Burst results for "One Billion Dollar"
Foxconn could move some iPad and MacBook production to Vietnam
"Raider sources say fox kinda shifting some ipad macbook assembly from china vietnam. A new factory for the production is being built in the country's northeastern province with plans to open in the first half of two twenty one. The move is an attempt to diversify production away from china in light of the ongoing trade tensions with the us. Although it's unclear how much production the new facility will take on. Reuters previously reported that foxconn committed to investing one billion dollars to expand iphone production in india
Fresh update on "one billion dollar" discussed on GNC Week In Review
"Five billion dollars in the initial public offering existing investor. Seek to sell the ninety six seventy seventy five seven and a half percent of the. The stock will be public at that point. Sounds like that. The current owners will still own the majority of the company important now Existing seek to sell ninety six million dollars worth of stock the ipo. It's not a lot airbnb is last private. Dilation was eighteen billion after to raise two billion dollars in debt early this year as the company struggled early on so the pandemic that was nearly half that was nearly half ppr valuation. Thirty one billion dollars from twenty seventeen The company will list on the nasdaq under ticker a bnb expected to hold his ipo. Litters month and airbnb will make a pitch to investors. That started on tuesday. I agree why would you want to. I guess have trying to raise two and a half billion dollars to keep the lights on because they just raised to through to try and keep going through the year. They're the company in trouble for a while because there's been all kinds of issues with fraud on the platform. Airbnb refuses to do anything about it. They clammed. they're cleaning it up but they're not I watched a segment from a british. Tv show done by comedian. But that doesn't matter because it was real He went and actually tracked down. This guy who was listing some like famous actresses house on airbnb That obviously was not an airbnb and he actually tracked a guy down and like found. His assistant was talking to him on speakerphone from the assistance. Phone the guy. I'm like facetime in the middle of the street of this guy who's got like thirty five scam listings and and you read about these things all the time. Where we're you know properties that are owned by these peop- by people are listed and they try and do these sneaky things last second and you get to a place and it's not a thing i mean it's airbnb is a mass right now And on top of it people aren't traveling so their business is in trouble for so many reasons so i can see why they lean to raise funds. I don't know this is the way to do it. What i was about to has the thing that the public sees you know. Once facebook went in their stock cut to like forty percent within the first four or five hours. I mean that was a that was a mess. and lincoln's ipo was so weird that in the end they ended up selling the microsoft. Their ipo went so weirdly So you know when an ipo. It's it's a dangerous thing to try even in good times..
Macy's loses money in 3Q; virus surges into holiday season
"Additional earnings report from Macy's reflects the uneven terrain facing retailers sales at Macy's tumbled twenty two percent as the department store chain struggled to bring shoppers back during a pandemic chief financial officer Adrian Mitchell said surging cobit across the country continues to impede the recovery in international tourism and urban areas the hardest hit businesses have been flagship stores in those in downtown areas sales at established stores fell around twenty percent while online sales rose twenty seven percent the company posted a loss of ninety one billion dollars that compares with a two million dollar profit in the same period a year ago I'm Jennifer king
An Alibaba Beatdown
"Alibaba. Closing the books on a record shattering singles day sales event. The tech giant says gross merchandise value. Seventy four point one billion dollars over the eleven day event but check out what happened to baba shares in hong kong trade. They fell nearly ten percent following a massive crackdown on the company. By the chinese government. Deirdre bosa is here with the very latest on this story. Deebo well in years past melissa. Single day has been all about those huge numbers that show the reach of china's internet giants. This time though that may be seen as more of a riskier. Flex justice singles was getting underway. Beijing's antitrust watchdog put countries tech giant's notice issuing draft rules aimed at rooting out monopolistic practices. Now the news hits the biggest names. Not just alibaba tencent. Jd dot com as well in hong kong by between seven and ten percent in. Just one session now. Alibaba is you know has already been under pressure. Since aunt groups halted ipo. The fintech also faces a changing regulatory landscape. More broadly guys regulatory pressure could be signaling. A new era for chinese tech. Not unlike what we're seeing for our own. American tech companies alibaba president michael evans told me earlier today. That transparency will be key. We need regulatory transparency. So that investors the company regulators. Everyone else can see the transparency and understand the rules by which the game will be played. That's where we're at over the last decade or more. The giants have been seen as national champions evidence of china's tech prowess surpassing even their american counterparts by some measures like users and growth. But now melissa. The draft rule suggests that beijing thinks that they have become too big and wants to rein them in perhaps giving a new crop of companies a chance to content back over to you all right deirdre. Thank you deirdre bosa for us tim. I'll go straight to you on this. I mean it was once thought that as national champions firms like alibaba and by intense they were backed effectively by the chinese government. And here we are in a very different position which violators of that. New regulation could be forced to divest of assets of intellectual property A whole host of measures. That would be very punitive so Deebo brought up a pretty good point also just that this anti regulated. This is the doj quivalent. We should say what that's meant for. Companies in our country mega cap texas Largely been nothing. But let's be clear about that As a guy that's invested in emerging markets for a long time and has seen governments dismantle companies. It got too big or too influential whether it's oil companies in russia whether it's been power companies in brazil. The national champions in china are just that i think the regulator has to evolve on the fly. I don't think they're gonna be telling these companies apart. And i think this is an opportunity. Remember china wants these companies to be global and dominant and they want them to work with the next wave of chinese tech companies. They're coming and yes they'll be competitive Influences but i think this is an opportunity but still the context of this is that these tech regulations came a week after the government forces suspension of the ant financial ipo karen which forced you as an investor in alibaba to actually reevaluate because it. It changed the rules to the point. Where aunt may not be as valuable as it once was. I think that's true. I think aunt will be unlikely in the short term to be as valuables. It was the very best cases. there's no new regulations. I don't think that's the most likely outcome. But you gotta think about how far the stock has fallen. And i think you know i agree with just about everything tim said of them. Being national champions. I think they're trying to this is really a spanking for jack. Ma and i think that ultimately i don't know how much of a difference it'll make in their in how powerful they are so when i look at how much the stock has come down if i own none. I would buy it right here. I don't own none. I own a fair amount. So i didn't add today. My next by next action probably would be to add. And i think that i don't know how long it's gonna take to resolve this but in my experience. Panicking on news like this has never been the right thing to do. So maybe this time it is the right thing to do but we look at what happened with the the internet companies. The gdp are we looked at having the antitrust with google stock traded up. We look what happened with facebook. Stock traded up. So i'm not gonna panic out of it. I may be the last one out when they dismantled the whole thing. But if i owned on abide here
Netflix hikes subscription price, boosted by viewer growth
"NETFLIX's has increased its annual content budget every single year over the last seven years spending a once estimated eighteen and a half billion dollars in two thousand twenty alone though that may have changed this year due to the pandemic increased competition means Netflix's needs to continuously. Step up its game to ensure it has both quality content and plenty of it while also working to better the actual platform that costs money and price hikes come as a result and quote. Yeah. So estimates are that a price hike like this along these lines for North American customers will generate an additional five hundred million to one billion dollars for Netflix in fiscal year twenty, twenty, one alone that's assuming this doesn't Piss people off and they cancelled their subscriptions Netflix's recent earnings report was something of a fail. If you'll recall as they didn't hit the subscriber growth numbers that Wall Street wanted as Nathan tanks tweeted quote, the demand for Netflix subscriptions just outpaced the supply of Netflix subscriptions. So prices have to increase to balance supply and demand. That's just how things work and quote. Not and also yes, we are in a pandemic. So maybe people won't look too kindly on any sort of price increases but Kobe Times can cut both ways. People need distraction and entertainment more than they did say. But they also have less money and then consider the fact that movie theaters are closed. So maybe now is the time for Netflix's to put the pedal to the metal because they're the biggest game still going in town. No new big blockbuster movies for awhile and consider the budgets that it's streaming competitors have estimated to have set aside for content production this year. As John Erlich men pointed out on twitter Amazon set aside eight and a half billion dollars apple TV six, billion dollars who four and a half billion dollars Disney plus two and a half billion dollars Hbo Max Two. Billion Dollars Peacock one and a half billion dollars CBS access one billion dollars net flicks as we said probably spent eighteen and a half billion dollars. So maybe no time like the present to spend to keep your lead
The Latest On municipal Elections
"A little bit about municipal elections of course in Brazil What what what's that? Give us give us the the big picture festival well, I voted a big deal because every single one of five, thousand, five, hundred. Seventy Brazilian cities will be voting for mayors and for councillors as well. So it's a big election, and of course, it's always as it happens to other countries it's a preview of the two, thousand, twenty, two presidential elections. So be interesting to see what's going to be the role of both sonar because of the beginning just a few months ago said, he's not going to get involved but now we're seeing that he's supporting a few of the candidates, but the thing is, of course, there's You know there's there's thirty or forty percent of the electorate that you know would vote for Bush scenario candidate but he's extremely toxic as well. the order. The same amount of number would never vote for a candidate supported by both sonar. Again I think it's going to be a very tough divisive election and again, Workers Party used to be such a strong political party Brazilian losing the appeal order. centre-left parties are starting to kind of gain more traction instead of the workers spiders. So that's an interesting thing about this election as well, and what do the polls say I mean just ready to? An association whether perceived or real with both narrow can be a boost or it can be a problem depending on where in the political spectrum you are. Do we know what the polls tell us and there's another interesting things on there in terms of the sorts of characters who are standing for action a big increase in number of military personnel. Explain also that we've talked about before absolutely and again this increasing military personnel of course, it comes more from the right-wing part but even the left they have some candidates and even in their names when people are voting is like major tone. Exactly. Or you know they they actually add they're tied to pseudo name. So people know exactly what they used to do but you know I was talking about another classic example here's some Paul the first South who someone is, is a hat on the polls he's supported by scenario is a TV presenters will kind of a populist even though he's ahead I'm not sure if he's actually going to win because there's he has a vast number of people that will never vote for him just because of his association with both Sonar, and in Rio you know we're loosing the blue. Shoe, quite a lot about this. Myself Valleys the current mayor and a former gospel singer as well. Again, he only have like forty percent of the polls. He didn't do a very good administration from. What I hear from people living there as well but he's the candidates have been supported by both sonar. I wonder if we're that can tell us a bit more house the reaction. Rio above that listen to I was going to bring you speak about Venezuela in a second but just on this point about it's both scenario I mean is he he sort of overshadow everything? Is it one of those things being Vanessa mentioned if we look at Rio these races, they're also have proxies for people's view about both in our that's certainly what it seems like sometimes looking from the outside. Yes. But also particularly that the main issue in. The minute always been it's totally economic, right so aside from all these elections and everything, it's really which parties are willing to offer some sort of boost to to the people living there and what we have. She had underneath the Bulls Nar administration in recent months, which allows cariocas from, which is, of course, this this payout to to the most deprived in the population, which is and so will very much depend on whether that sort of extended over the next few months to tidy through the election or not I. Think I think economic issue is a big thing. Here we go. There's some interesting aspects. Of this election as well so far we had the record number of candidates thirty, four percent of all the candidates are women. That's a record that doesn't mean that they will be elected sometimes they come from the smaller political parties as well, and for the first time we have candidates, they are either black or mixed race then white, that's a that's a first So even though we are under the administration that probably don't care that much about quotas or this kind of things but you know you see a little bit of change in Brazil perhaps the candidates are beginning to start to look like. The population in general. So that's an interesting aspect of this election and certainly something to welcome just briefly Fernando. Last point on. This is one of these areas where it would be a mistake to read too much into what happens in the municipal elections where we look ahead to the next general election or actually is quite a good indicator of which way the political winds on a national level also blowing I think we should definitely pay attention to this election in two thousand sixteen. We saw the rise of the right and kind of you could kind of understand Wassenaar was elected two years after. Okay interesting. Stuff listen. Let's cross back to you and I I mentioned Venezuela let's talk about this. You were living there I think some some years ago, but there's this really complex interesting legal battle that also comes right here to to London town as well. Tell us a bit more about this. Yes. So don't remind listeners the Maduro government launched legal action against the Bank of England earlier this year to try and force the Bank to release gold that the country has stored in the bank sports and England's quartered appeal decision that was made earlier this week on Monday isn't as definitive, some of the headlines had suggested. And they're sort of several layers to this. But essentially, the appeals court overturned a judgment which said that the UK had recognized opposition leader one guy do as Venezuela's rightful president. So in other words that local ruling is a victory for Maduro essentially sidelining any perceived power that Guido had as Venezuela's rightful president but Monday's decision actually means that this whole I mean it's a lot of money is a one billion. Dollars equivalent in gold. It will go back to the High Court in England and it will be up to a higher court to determine more definitively which of these two rival leaders is in charge in Venezuela and therefore he has control over the shiny gold bars which obviously tend to grab the column inches but I guess into this is a case where. This case speaks to a bigger picture dozen and it does also reflect this ongoing, very divisive political battle in in. Caracas. Can you just tell us what is the latest there what? What's the situation? Is it one of these things where again Everything that flows politically flows out of the economic strife, the country still during. Quite right I mean reading the actual ruling it disorders show unpick really the mess that Venezuela and the international community has got itself into with this to President Saga that's been going on since January twenty nineteen and the upstate new nothing the people who've been living there I mean in abject poverty fleeing the country in the millions and that has no proper healthcare system i. Mean when I was living back in twenty seventeen lesson learned today to do with this highly contagious virus. So the situation is critical as I say, having having an uncleared dramatic stance, own issues like the Golden, the Bank of England, which mode no doubt will go on for months only wasn't the the situation inside the country and creates stalemate when nothing moves on or improves. Tricky Times still ahead listen to it was good to hear from you, and if you're here in studio thank you. That's Markle's if you had noticed and Lucinda Elliott
ReKTGlobal Secures $35M Financing Round to Support Its Growth
"Wreck global defunding around a thirty five million dollars wrecked has quickly become. One of the largest eastwards operators in the world has been acquiring companies all over. He's for over the last few years on the team side. Wreck is the parent company of Rogue Atop Eastwards Organization best known for its League of Legends Europe team who qualified for worlds this year, they also have good rocket league apex rousers as well. They also have Dr Lupo incredibly Popular Streamer Roster for content creators. In addition to those teams and Lupo wrecked also owns the London Royal Ravens in the call of duty league outside of just those competitive teams though his also acquired green lit content, it content studio, full cube of Fan engagement platform, and fearless media a media agency. It's one of the most expansive companies, all of these sports at this point they also have a wide variety of celebrity investors. Those include musical artists like imagine, dragons, Steve, Aoki's Nicky, Romero as. well as athletes, Rudy Gobert Landon Collins and Taylor Fritz. They also brought on the founder of top dog, the rap group top artists like Kendrick Lamar schoolboy q Jay Rock Ciza, and I was shot personally my favorite label out there. So how'd had to give him a shout-out according to wreck CEO? They are also profitable. One of very few eastwards teams who can say that that's likely thanks to the wide variety of other companies they have under their belt. Investment was a debt capital raise meaning the money more. So alone than it is equity in the company and it came from summit partners. Summit is leaving private equity firm overseeing about twenty one billion dollars in total assets. It'll be interesting to see what rex intentions are with this debt capital raise. If I had to guess I would assume they're gonNA use it to acquire more companies in and around. East sports not necessarily to expand more games they already have a big president quite a few of the top games as it stands right now.
UN seeks ‘quantum leap’ in funding for coronavirus fight
"UN has welcomed nearly one billion dollars in recent pledges to bolster access to lifesaving tests treatment and vaccines to end covid nineteen. The development follows an appeal by you Inspector General Antonio Guitarist tool nations to provide further urgently needed funds to produce a corona virus vaccine that is available to everyone everywhere the global initiative carrying out this task is called the act accelerator it was launched by. The World Health Organization who alongside international partners since launching in April test secured three billion dollars so far but it needs another thirty five billion dollars including an immediate infusion of fifteen billion Mister Gutierrez said at a high level event to mobilize support for the initiative in a statement the UN and partners described the investment as a monumental show solidarity from government private sector, civil society, and international organizations.
Apple to produce millions of AirPods in Vietnam amid pandemic
"More of apple supply chain may be leaving the Middle Kingdom. Apple insider says Peggy Tron. One of the Cupertino companies manufacturing partners is looking to build in Vietnam in a pretty big way. Like one billion dollars beg. Looking to target computing communication and consumer electronics. Plan, involves three phases. The first is a relatively small nineteen, million dollar initiative followed by four, hundred, eighty, one, million, dollar second-phase and five hundred, million dollars for a third phase all set to wrap up by twenty, twenty seven. Insider says Petron is the fourth of apple's manufacturing partners to make the move to Vietnam. Foxconn. And Tag all have manufacturing setup there. It's worth noting that while the apple manufacturer will be going to be at. Phnom. Petron won't necessarily be, making, anything for apple in Vietnam. That said the piece points out that apple has been encouraging suppliers to move production out of China to avoid costly tariffs. Apple's online store went live on the subcontinent today tech crunch says for the first time in more than twenty years since apple began its operations in India, the iphone maker has started selling its products directly to consumers in the world's second largest smartphone market. I don't WANNA get too far ahead of things but moves like this. Could make apple a profitable company?
Nvidia to buy UK's Arm, sparking fears of chip dominance
"Talk shortly about invidia buying chip company armed from. Softbank. The deal is worth forty billion and video said it will make it the quote Premier Computing Company for the age of Ai Invidia is best known for supplying ships at rendered images, video games, but it's so much more than Invidia has become sort of the power player in in this. Area and I know you're not a chip expert but this is the this is a critical company for a this this sermon, I wanna get into the idea of what it means for certain companies sort of owning a space and you just recently testified about single companies or or a small group of companies owning spaces, and how dangerous that is why it's It like this was a bit of an a for sale because bank has pledged to raising forty or fifty billion dollars in my understanding is they're they're not gonNA make a ton of money I think about bought this company that bought on for about thirty. Thirty or thirty, two billion just about three years ago, and they're getting a mix of stock and cash. What we interesting is it now I I've invidia. The, most impressive company I just don't know about its now got a larger market capitalization than Intel when I was in business school was considered kind of the most innovative giant company in the world. They've been blown by, and then what happens does apple still WANNA do business within video when they buy a competitor to their? To. Their chip designs so the chip bores looks like it's about to get more interesting and just. Greed. Company gets sold for forty. Billion although. That's a bit of a headline number. It was it includes performance in all sorts of other stuff that does about one point going timeout thirty times revenues, and then Invidia with A. It's got a three hundred billion on market cap with twelve billion in revenues I mean this stuff is just it as obviously very strategic that that literally exhaust might total knowledge of the chip-making space. Do you have any thoughts on this deal? Well, I think I think people don't realize Jensen Wong who's the CEO? Has had it sort of as quiet? Person WHO's super I tried to get him to come to co last year and removes like Oh chips the but I think it's really important to understand how powerful this company has become an how innovative it's bad. You know arm holdings was a designer of chips for mobile phones Softbank had struggled in this area Softbank was sort of into everything but bought it for thirty one, billion dollars a couple of years ago. So you know it needed money because of all the other problems it's having, and this is an opportunity for invidia but it's gone. It's gone well beyond mobile for. and it's it's in graphics. It's a it's been moving into self driving vehicles as an area that it's that it's moved into and so it's just it. Just it just says that you know it's going to buy up everything and like you were talking about all these opportunities that were that are a lot of the focus here is going to be on Softbank because it's been involved in so many deals that have sort of blown up whether it be. You. Know this this the overvaluation, we worker or other issues. It's been the the collapse of the Vision Fund and things like that. So a lot of people like to focus on Softbank because it's an interesting sort of ongoing traffic accident but really invidia is has quietly been. You know becoming the go-to Chip Company not just with graphics in games and things like that but artificial. self-driving another area it's moving into I. Think it's it's going to grow Internet of things and stuff like that and Softbank was just not able to do anything about it, and so I think you have to focus on invidia being on this sort of tear beyond where they started and I think people don't realize. It's one of these companies that you don't pay attention to very much like I'm blanking the other. There's another trip company that just is doing incredibly well, it's run by Lisa. Su That it's just there's there's all these companies that are holding incredibly powerful positions amd also on a tear that are very important to the future and so that you're right there's going to be a real focus on where the chip business is going.
The Birth Of The Greenback
"Stacey next. Jacob Feldstein. Planet money author of money the true story of amid up during a new book. Say I. brought props for us to do the indicator. I say. That's been months. It's been. That guy's been honking hall eight months. I have props came over so I could give you these troughs. Okay. Go ahead and look at them. All right. Okay. So, this is like a really high quality xerox of an old piece of money. THREE DOLLAR BILL RE dollar bill that's really a real thing. There's like a a lady standing next to in like a ball gown standing next to a cow to I chose a cow to pander to you I do love a cow keep going. Okay. The Orange Bank It's orange because this from the orange. Bank and this is a one dollar bill. So Stacey, these are reproductions of real paper money that was printed by private banks in the United States in the eighteen forties and fifties. This is one of the most interesting periods I found in the history of money when I was working on my book, it's this moment when the United States government did not print money, there was in fact, no single national paper currency but if you wanted to. Open Up Stacey's Bank of New York and print your own paper money. You could. I don't know if I would trust that dollar from that. Was a real problem that was a real problem we'll get to that. I. Mean they were just so many different kinds of money at one point the Chicago Tribune counted eight, thousand, three, hundred, and seventy different kinds of paper money in America. This sounds very confusing for everyone involved this indicator from planet money. I'm Stacey Vanik Smith and Jacob. Goldstein can we make eight, thousand, three, hundred and seventy, the indicator? Yes. Today on the show. How can you even have that many kinds of money and also just what does it tell us about money works? Let's just go. Let's just go a block away to get away from the horn. Yeah. Support for NPR and the following message come from fund. fundraise fund makes it easy for anyone to invest in high quality real estate by building you a portfolio with their more than one billion dollars in assets get started at fundraise dot com slash indicator to have your first ninety days of advisory fees. Waived. This message comes from NPR sponsor. Microsoft teams. Now, there are more ways to be a team with Microsoft teams bring everyone together in a virtual room collaborate live on the same page and see up to forty nine people onscreen learn more at Microsoft Dot com slash teams. So can we should set the scene here Jacob the nineteenth century America lots of is apparently also this was the era when gold and silver were money and Jacob say in the book that the government minted gold and silver coins, but it did not make paper money at that time. The exactly right. So the only paper money in America was printed by all of these different. Private banks people called paper money in fact banknotes, right. So they thought of it as like a piece of paper from a bank and they thought of paper money in particular as like a receipt or a coach ticket as as a thing that you could substitute for gold and silver, and in fact, if you look at at the bills I gave you all have this kind of. Writing like just grab a different one for fun. So we can say what it looks like. Okay. This is the stoning ten bank, a two dollar bill. There's a way. Moby Dick or something Wail Bell we've cow Bill Wail Bill So okay. So now look at the cursive writing see the cursive they're just blowers is stoning to. Two dollars to the bear on demand right and if you look all these different bills are different colors, they have different pictures on them, but they all say that will pay how ever many dollars to the on demand and so the second interest. Yeah it's an Iou because the interesting thing is it's telling you the paper money is not the real money. Right? They're saying we will give you two dollars in gold and silver for this paper money right? So the real money in this world is the underlying gold or silver the paper is just like. The Standard. So this is a time in history when there's not federal bank, there's not a national bank. There's like thousands of of little local banks and I guess all these banks can issue their own money. That's right and it's kind of evolving in this period at the beginning of this ehre the eighteen thirties. If you wanted to open a bank, typically you had to go to your state legislature and get special approval. Basically, they had to pass a special law that would let you open your bank and this was problematic because I was super corrupt essentially. Bank and print money. Then you're gonNA bribe whoever you have to. Say all the knee. All due respect to get them to let you open your bank. Right. So around eighteen forty, a little earlier, this new idea became popular. The new idea was called free banking. And the idea of free banking was anybody who is willing to follow a few basic rules could. Take and start printing money and literally start printing money and you know not surprisingly a lot of people wanted to print money. This is how we get eight thousand different kinds of money. Yes. How do you know if the bill that someone's handing you is real money or if it's literally just a piece of paper from the First Bank of Stacey Vanik Smith which might be real money. I wouldn't. Maybe. Add bribed senator so I love this so there arose in response to this problem these special periodicals Magazines that were privately published called banknote reporters. And what they were was these lists in tiny font of every kind of money. So I actually have a reproduction here another prop from a page. This one was called. Thomson's Bank note. Reporter. K.. So the people who subscribe to this merchants people who need to accept money. So so let's just say I'm running a bar and I got my thompsons bank note reporter and I come in I need a drink who thirsty I'm thirsty. So okay. So the page of the bank note reporter I printed out is for Orange Bank. Okay. Okay. So have that bill right here it is and it's a one dollar bill. So I find Orange Bank here in my Bengal reporter and it says Okay Orange Bank listed different bills and says ones and under wants it describes what the bill is supposed to look like says to horses check. Hey, Cart Jack Blacksmith shop male portrait Jack Girl. Check. So it's at least plausibly real. The reporter also tells me something else that's important and that explains a lot about how many works at this time. Typically would tell me whether I should accept that paper money at full face vowed I can buy my dollar whiskey with this whether you can get your dollar whiskey because remember what we care about is whether I can turn in that paper money for gold or silver, and so if the bank is shaky or even if it's just really far away. You know the reporter might say, just knock five cents off the dollar give Stacey Ninety five cents worth of whiskey instead of a dollar that took a really long time to buy that we ski. It does seem like it would have been absurdly inconvenient right and for a long time when people look back at this period, the basic story of free banking was just that was a horrible idea like that many kinds of money right but. Much, later, like in the nineteen seventies. This generation of economic historians started going back and looking more closely. At the banks and how money works in this period and what they saw when they really went through the numbers was basically like it wasn't that bad Bankston go bus that often people didn't usually lose much money when they used. We're you overall they would lose like a few percent which is. Kind of like what you pay today. So when you take money out of the weird off Brand ATM at. The corner store. which I always do. Yeah, I. Mean. That's basically like the the bartenders giving you ninety cents for your dollar when you do that, right? So. Obviously, we do not have eight thousand different kinds of money now this ended and it ended after the civil war. Yeah was the civil war. So during the civil war, that old American argument of can we have national banks or not came up again and Congress passed a few important banking laws. One of them basically taxed all those thousands of kind of state banknotes out of existence, and then the other one created these new national banks that printed much more reliable, much more uniform paper money. It's interesting because I mean, this was obviously after the civil war was the time when the United States went from like a collection of. To One Country, and it seems like the same thing happened with currency maybe not a coincidence. Your I mean, there is this idea at least in the modern world money is part of what makes a country a country and I think you do see that happening at this moment in the united. States when we go from thousands of kinds of money toward one uniform kind of paper money I'm just sad we lost the cow bills. Because you know Jacob I have a fever and the cure. This story in like a whole bunch of other like believable stories like this are in your new book money. The true story of a made up thing. This episode of the indicator was produced by Nick. Fountain fact check by Britney Cronin, the indicators edited by Patty hearst and is a production
Trump says he'll use his own cash to fund his campaign if needed
"Finally, there's some talk of. A cash crunch. Now for the trump campaign incumbents generally have a financial advantage but there's reporting that that the trump campaign has raised one point one billion dollars since the beginning of twenty, eight nineteen and has spent more than eight hundred million of that already, and some questioning of why the trump campaign for example, spent money at a super ad long before average voters are tuned. In and meanwhile Jason the Biden campaign raised three, hundred, sixty, five, million dollars in August alone, which is a new one month record for fundraising like that and I. Mean obviously money is not everything trump was outspent in in two thousand sixteen but it's it's interesting to wonder whether the management of these campaigns could play play a role in the dynamic in these last few weeks to. Share and I think you know the Biden people. They have a lot of support in among wealthy people. I think Kamala Harris has been probably a good fundraiser among California's well to do, and so I think you know a lot of a lot of people have decided. that you people who run companies and so on. Have decided that you know they don't want any more of the trump show and I do think that they're going to give Biden a fundraising advantage I saw that the president is thinking about spending. Hundred million dollars of his own money by. You know I think I think that that's that that's a red flag for him. If he doesn't have enough if they don't have enough, for example, the contest in Michigan Nafta books on other states and that's also. Going back to what Kim said about the Senate not just going to hurt the president but hurt Republican chances in the Senate if the trump campaign has to pull back in be more selective about where they're spending.
Jfrog and Sumologic Set Initial IPO Prices Amidst Wave of Interesting Private Rounds
"There are new IPO filings from both Jay, frog and sumo logic to companies that filed in that great IPO wave of a few weeks back we have been tracking both companies impending debuts because we care a lot about them, their software companies, it's been venture capital money at play that puts them right in the very middle of what we care about here at tech rudge. So the news. To s a filings when it comes to developer focus J. Franck, it is going to target thirty seven dollars per share at the top end according to this initial range, of course, and could raise as much as four, hundred, ninety, two point, two, million dollars, and we did some very. Rough math this morning. So you know have the jobs. So in fact, check us but we believe could be worth as much as three point three, billion dollars at three seven dollars per share it not counting select shares reserved for its underwriting banks. Turned into sumo logic it will target twenty one dollars per share for an IPO that could be worth three, hundred, Fifty, seven, point, four, million. That's how much could raise in the debut and if you do all the math. It could be worth two point, one billion dollars again, not counting shares reserved for underwriters more of both of those to come on the site of course, but it's great to see those ideas moving forward making stores markets. It means we're not going to be bored for weeks. There's GonNa, be lots to talk about. So get excited
Despite the Pandemic, Airbnb Will Take the Company Public
"I'm Elaine Appleton grant and this is business worse daily on this Tuesday August Eighteenth David Brown is on vacation. There's no other way to say, this twenty twenty is a weird year and yeah, that's a whopping understatement particularly for the travel sector, the latest news and the beleaguered lodging industry. It looks like AIRBNB will go public before the end of the year. The multibillion dollar home sharing company has long been eyeing the public markets. Early, this year AIRBNB was planning its IPO even though twenty nineteen. had been a rough year to in the first nine months of that year and the company lost more than three hundred and thirty million dollars growth was slowing competition already rough was increasing from aggressive rival Expedia, which owns short term rental brands. We are be O- and home away as we reported here, last year the entry of Marriott into the luxury home sharing business didn't help either. When the pandemic hit things took a dramatic turn for the worse the company faced a Billion Dollars in cancellations its valuation dropped from thirty one, billion dollars in twenty seventeen to eighteen billion dollars. This April, the next month airbnb laid off. Two, hundred people a quarter of its staff. It also slowed down plans to expand into TV and transportation the verge reported. Things were looking dire enough that even though it had plenty of cash on hand airbnb chose to borrow money and take on new investment to get through the crisis in total. The company raised two billion dollars at what the verge called. The steep interest rate top executives cut their pay and the eight hundred million dollar marketing budget was slashed the New York Times reported. It all seemed like one gigantic headache I say O'Brien Chessy in his crew. And yet AIRBNB still plans to go public by the end of August. AIRBNB could file IPO paperwork with the SEC if it does shares could trade before New Year's. At first glance that sounds crazy. But it actually reflects a little good news for the travel business along with some dramatically new patterns of travel behavior both here and abroad what do I mean? We'll think about it if you were stuck in the middle of a crowded city, this spring or summer working at your dining room table, would you stay put? Beginning in May a certain number of US said Hell? No. They had a Derulo areas where they could rent other people's homes, AIRBNB bookings, both in America and overseas began climbing back from their black hole for the three weeks starting around Memorial Day vacationers reserved twenty percent more homes than they did a year earlier according to Bloomberg business was best far from the madding crowds in. June. Reservations in the countryside jumped twenty five percent hosts in rural areas earned more than two hundred, million dollars in that month alone payments DOT COM reported international travel is virtually impossible and of course many. Of US are still avoiding airplanes so more and more of us are taking vacations within two hundred miles of our homes about one tank of gas in many cases were also staying longer after all many people no longer have to get back by Monday to go to the office we just take our work with us in a meeting in July CEO Chesty expressed amazement at the rebound in bookings. There is something I never would have imagined telling you the New York Times reported a kind of defies logic, but in June reservations also grew at rival Vr be oh, the Motley fool reported. Optimists see these numbers as a sign of life for the travel industry as a whole but predicting the future of travel right now is best left to gambling halls AIRBNB is fortunes could change suddenly depending on the course of
Pandemic hits Comcast 2Q; Peacock service has 10M sign-ups
"In q earnings report comcast announced its peacock streaming service had ten million sign ups since it's limited, launch an April and nationwide launch in mid-july overall comcast net income for the quarter fell four point four, percent two point nine, billion dollars in revenue of twenty three point seven billion dollars revenue at his home Internet and cable segments was flat at fourteen point, four, billion dollars but NBC Universal Revenue was down twenty five percent to six point one, billion dollars asd revenue on cable networks fell twenty seven percent to six, hundred, seventy, nine, million dollars while theme park revenue declined ninety four percent to eighty seven million
Big Tech CEOs Testimony Before Congress
"Today was the day as I record these words the big tech CEO's are still testifying before Congress. So I'm going to have to do a summary of what I've seen just in the first couple of hours or so and leave some of the juicier question and answer back and forth for tomorrow. I up a note on the format that we've been seeing. Yes. All of the CEOS were testifying remotely. They were using Cisco Webex as the video conferencing tool and it seemed to work fairly well at least right until this very moment as I turned off the stream to go into the booth to record this, they took a ten minute recess because apparently one of the witnesses. was having an issue with their stream or feed, and I'm wondering if it might have been Jeff Bezos because at least thus far were almost an hour and a half into the testimony and he hadn't been asked a single question. Anyway back to the whole idea of testifying remotely if I were going to do one of those rate, my video call backgrounds reports. Bezos look like he was in some sort of executive boardroom, lots of tasteful Chomsky's behind him. Look like he was in a conference room at a high end law firm I couldn't tell what Zuckerberg was sitting in front of it looked like closed vertical blinds almost like I don't know some sort of like a bunker like if you're battening down your house for a Hurricane Tim, Cook was in front of some sort of tasteful plant trough though he was clearly working off an ipad pro. Let's start off with what the Fab four had to say in their opening statements. Amazon's Jeff bezos underscored Amazon's job creation, its investments in social causes and its role in supporting small and medium-sized businesses. And made the case that Hey Amazon is just a tiny competitor in a huge global market quote. The global retail market we compete in is strikingly large and extraordinarily competitive Amazon accounts for less than one percent of the thousand five, trillion dollar global retail market and less than four percent of retail in the US unlike industries that are winner take all there's room in retail for many winners for example. More than eighty retailers in the US. Alone earn over one billion dollars in annual revenue like any retailer we know that the success of our store depends entirely on customer satisfaction with their experience in our store every day Amazon competes against large established players like target Costco Kroger and of course, Walmart a company more than twice Amazon size, and while we have always focused on producing a great customer experience. For retail sales done primarily online sales initiated online are now in even larger Growth Area for other stores Walmart's online sales grew seventy four percent in the first quarter and customers are increasingly flocking disservices invented by other stores. Amazon still can't match at the scale of other large companies like curbside pickup and in store returns and quote alphabets. Soon, Darpa, Chai, said that Google also operates in a highly competitive. Market and that it's free products benefit the average American quote. A competitive digital ad marketplace gives publishers, advertisers, and therefore consumers an enormous amount of choice pichai stated, for example, competition and ads from twitter instagram comcast and others has helped lower online advertising costs by forty percent over the last ten years with these savings pass down to consumers through lower prices in areas like travel and real estate Google faces strong. For search queries for many businesses that are experts in those areas. Today's competitive landscape looks nothing like I. Did five years ago let alone twenty one years ago when Google launched its first product Google search people have more ways to search for information than ever before and quote. Tim Cook of Apple said that the APP store has opened the gate wider for software developers. Also, apple doesn't have dominant market share quote as much as we believe, the iphone provides the best user experience. We know it is far from the only choice available to consumers Cook said after beginning with five hundred APPs today the APP store hosts more than one point seven, million, only sixty of which are apple software. Clearly, if apple is a gatekeeper, what we have done is open the gate wider we want to get every APP we can on the store, not keep them off and quote. And facebook's mark. Zuckerberg said well, but he said a thousand times before that facebook knows it has more work to do on things like fighting misinformation and that you know companies aren't bad simply because they're big. And he took pains to point out that facebook is an American success story quote although people around the world use our products. FACEBOOK is a proudly American company. He said, we believe in Values Democracy Competition Inclusion and free expression that the American economy was built on many other tech companies share these values, but there's no guarantee our values will win out for example China. Is Building its own version of the Internet focused on very different ideas and they are exporting their vision to other countries as Congress and other stakeholders. Consider how antitrust laws support competition in the US. I believe it's important to maintain the core values of openness and fairness that have made America's digital economy, a force for empowerment and opportunity here and around the world and quote. In his opening remarks, the chairman of the Committee David. Sy-. Selena Rhode. Island. Laid out three areas of inquiry that the was scheduled to delve into at least in questioning from the Democratic Congress folk more on that in A. Quitting CNBC, each platform allegedly serves as a quote bottleneck for a key channel of distribution and quote the platforms allegedly used their control over digital infrastructure to Sir Vail other companies, their growth business activity, and whether they might pose a competitive threat and use that information to maintain their own power and third the platforms allegedly abused their control over current technologies to extend their power through tactics like self referencing their own products. Quote. Prior to the cove nineteen pandemic, these corporations already stood out as titans in our economy. Silly said in the wake of Covid nineteen however, they are likely to emerge stronger and more powerful than ever before, and he concluded by saying quote, our founders would not bow before a king nor should we bow before the emperor's of the online economy and quote? But as I say, while this was labelled as an anticompetitive antitrust inquiry, it seems like the Republican Congress folk were primarily interested in probing alleged bias against conservative users. In fact, Jim Jordan. One of the ranking Republican representatives spent most of his opening remarks railing against. which if that continues would basically be exactly what all of the CEOS in the talking head boxes would be hoping for right lots of distraction and no real spotlight on them. In fact, a lot of the most heated questions directed at a company that's not even present. We'll see if that continues but I have to say straight off Chairman Sicily and was very specific targeted sharp questions. He kept interrupting folks when they started to stray into doublespeak and the very nature of the questions from him and others at least so far. This wasn't like previous congressional hearings we've covered where the congress folk didn't seem to even understand the businesses they were investigating, and maybe that was because I don't know if you saw the woman sitting very prominently very obviously behind Mr. Cecil lean. Let me let the Washington Post fill you in on who that was quote as a twenty eight year old law student Lena Con penned a twenty four thousand word article for Yale Law Journal titled Amazon's antitrust. Paradox. The article described how US antitrust law isn't equipped to deal with tech giants such as Amazon. Even as the company has made itself as essential to commerce in the twenty first century in the way that railroads and telephone systems had in the previous century con now works as counsel for the antitrust subcommittee she has worked with Sylvain to develop his case against the tech giants including Amazon and quote. As I said, the questioning is continuing as I speak these words in fact I just heard that they came back from their recess. The whole thing did kick off hour late only getting started at one PM, eastern? So I don't think it'll be done before for five PM at least. So again, I'll put together a summary of all of the juicy exchanges happening now for tomorrow.
Gun Violence Spikes in NYC, Intensifying Debate Over Policing
"A New York. City has experienced a surge in violent crime in recent weeks, including a two hundred percent increase in shootings between June, fifteenth and July second of this year, a compared the same time in two thousand and nineteen over the July fourth holiday weekend, sixty four people were shot. Eleven died when we're gunshot wounds and the last four weeks New York. City has seen an increase in shootings. Compared to last year, there was one especially. especially heartbreaking shooting on video of a father gunned down in broad daylight while walking hand in hand the six year old daughter, the Bronx, but it isn't just gun violence troubling the big apple in the past two weeks, there was a grisly knife attack in the subway and a stabbing in Brooklyn, following the George Floyd protest against police brutality. You were police department disbanded. It's plain clothes unit, which has been involved in a disproportionate number of fatal officer involved shootings last week at NYPD captured a video, mocking the new overly cautious policing tactics being implemented in New York City a following the nationwide protests against police brutality in. In early June New York City Mayor Bill Blogs, you announced. He's moving resources from the NYPD to youth and social services as part of our city's budget. Mayor de Blasio proposes cutting nearly one billion dollars, and then PD are presentative. Alexandria Cossio Cortez scoffed at the proposal calling it a disingenuous illusion thing. defunding police means defunding police on Thursday during virtual townhall because you cortes talked about the uptick crime in new. York City, pointing out constant new NYPD hasn't happened yet, and there's still an increase in crime, a proposed theories for the crimewave and asked do we think has to do with the fact that there's record unemployment. Unemployment, in the United States right now as she continue the fact that people are at a level of economic desperation, we have not seen since the great recession and the Democratic Socialists hypothesize the increase in York City. Violence could stem from Renton demands and people shoplifting bread. Maybe this has to do with the fact that people aren't paying their rent and are scared to pay the rent. She said, and so they go out, and they need to feed their child, and they don't have money, so you maybe have to. They're putting the position. They feel like they either need to shoplift some bread or go hungry that nights. Okay so let's break this down Carrie. Did she offer any information? Suggesting the shoplifting of bread is on the rise. No no, she did not. Offer any information or proof that people are being evicted McCain pay their rent now. Okay so I've got Dr Carson on today. He the Hudsucker secretary as you know, and he's the one who talks about foreclosures and Ranson evictions and stuff like that, and of course as you know because you're a smart news person of fifty, some odd years old. You know that there had been abatements for people paying rent or getting addicted or getting foreclosed on right. They literally can't be evicted, or it'd be foreclosed on under the rules. Put Out by Hud Housing Urban Development. Run by Secretary Ben. Carson, so we don't have any proof because it isn't happening. People are being shot and killed in the streets of New York. It's. It's not over buying bread or not for stealing bread, but there's no proof of anybody shoplifting more bread in new. York, so that's unverified and probably untrue, and there's certainly no proof of people being evicted or being foreclosed on because there are rules in place protecting people right now, but I guess the broader question along with why the beep is this person in Congress? Has To be wife. She saying it. Because it's also ally that there has been no defunding or disbanding a police in new. York 'cause you just said if the the crime unit has been disbanded. The Crime Unit that actually was on top of the most violent crimes, and stopping is no longer there, therefore the violent criminals who are not stealing bread. Are Out there, killing each other and killing innocent people, so your thoughts on this. Would you hear this this dolt this? Dope. AFC saying such stupid things what goes through your mind
Top 10 Most Valuable Brands in the World in 2020
"Brands keeps doing them, so we'll keep talking about cult of Mac. Says the Brandon Valuation. Firm brands on. Has Put together a list of the most valuable brands today and apple is so close to the top. For the fifth year in a row, apple has taken second place. According to the report bested only by Amazon. The report says brand's values apple's brand at three hundred fifty two point two billion dollars. Unlike market CAP, which values the business as a whole this brand. Is designed to assess the value of the branding itself. Running through the top ten list Amazon I apple second Microsoft third. Google fourth visa round out the top five. Followed by Alibaba tencent facebook McDonald's. And Mastercard rounding out the top ten. Maybe, the weirdest part of the story. Besides this, actually being a thing is how the brands are categorized. Apple is actually the top tech company according to brands that's because the organization classifies Amazon in retail. Even while noting the hardware, it makes the e book video. Music Services. It offers and Amazon. Web Services. which is about as tack as you can get? Number two brands, but number one for Warren, Buffett. Well forty-three percent of Berkshire Hathaway's holdings, anyway, that is the word from Motley fool by way of cult of Mac. According to the cult Berkshire Hathaway's two hundred forty five million apple shares have increased in value by more than fifty five billion dollars since the start of twenty nineteen to be worth upward of ninety one billion dollars. Buffets firm is currently apple second largest shareholder with around five point, five percent ownership of apples publicly available stock. According to the report.
Trump says painting ‘Black Lives Matter’ on New York’s Fifth Avenue would be ‘a symbol of hate’
"It should be clear now that president trump believes his road to reelection is paved with a daily culture war on his twitter feed. In the last twenty four hours, he defended military bases named after confederate generals and attacked fair housing regulations meant to benefit minorities this morning. He went directly after the black lives matter movement. His complaint was about the planned to paint. Paint black lives matter outside his trump tower residents in New York. He said quote new. York City, cutting police money by one billion dollars in the new. York City mayor's going to paint a big expensive yellow black lives matter sign on fifth. Avenue denigrating this luxury avenue, and as we told you earlier, he then called the proposed. Black lives matter mural quote. This symbol of hate just a short time ago, his press secretary was asked exactly what he meant by that, and as usual her reply was that the press and anyone who read that tweet offensive were the ones who got it wrong. See how she tries to explain it. Americans have always protested in all fifty states. Around that phrase, black lives, matter and the president is here calling a symbol of hate. He's talking about the organization. Keeping them honest nowhere in the president's tweets, does he refer to the organization or to its leadership? Just the mural that says simply black lives matter
"one billion dollar" Discussed on MacBreak Weekly
"So you get thirty days free. We thank them for their support. Amac break weekly. We thank you for supporting us by using MAC break weekly as the offer code and now we are going to do picks of the week. Let me start with Laura Gill. That's me. Are you? Sure, you want this because you're probably gonna end up buying one. Buy everything you tell me to buy actually this one is for I wouldn't case by the company called curve, K E, R F N. But everything they do. So they they make iphone cases in Android cases. They make skins, and they also have a charging block, which I've got my charging block plugged in around the corner, but they use sustainable wood and recycled materials and even the the phone case. They sent me it's got it's cardboard and a cloth bag it. That's all it plastic. So they really I really want to tell people about this company because they make a really nice case, by the way, the my favorite thing about this case because cases are cases, right? But the buttons on these are just nice and big and puffy in they stick out, you can press them real easily. And that's a really nice thing to have on a case. And it feels good this natural would that. It's made of this one is made out of walnut. They they use a variety of different styles of wood. But it's all sourced locally or with organizations that go out of their way to reclaim felled trees in the forests and then and. You know, dry them out and send them to places. So they're, you know, they're not just cutting down trees to make these these cases in charging pads. They're actually using the environment as it exists. So company is great so dog like the charter, the would she charger? That's pretty. Charging block it works. Fantastic. I you can it's the the the charging coils inside. There are nice and big. So I can like just toss my phone down. You know, it's only on a quarter of it. But it'll still catch it. So and it looks really good. Clearly Woodworkers because you can get finishes with all kinds of crazy would figured walnut a book coat, purple heart, African mahogany Ambrosia maple canary would spotted maple that is really neat. Yeah. And and even if you don't need a new iphone case, or you're not a fan of this thickness of the of the case like some people are real minimalists and wanna real thin case. Just what the company does is great in the, you know, check it out and see if there's something else, you wanna think they also do a MAC book skin. If I'm not mistaken. That would be nice. Yeah. Yeah. Nice. Good. Yeah. You're right. And they're from Pittsburgh. What's not to layer from Pittsburgh? And the apple pencil would skin. I I don't know if you've if you clicked over to the woods skin section, but they make a pencil cover for your apple pencil, which is pretty clever. Got a little extra money. You can spend a few hundred bucks on rare woods black Gabon. Ebony. That's only six hundred thirty nine dollars Australian red Molly Berle Spivey hundred sixty nine dollars figured.
"one billion dollar" Discussed on MacBreak Weekly
"Remind you that all the west wing thing where they said they caught the terrorists because of a broken tail light. And the guy said, sir, we've discovered over the years that no amount of manpower or money equals criminals being stupid. Yeah. Well, and the NYPD may be jumping the gun because they found that ide- they arrested the kid, and then it's according to the story and engaging the detective that eventually examined apple surveillance footage old fashioned face ID noticed that the guy they'd arrested in look anything like the guy that was making during the robbery plus turns out the kid was attending his senior prom when the Boston theft happened. So sounds like he's got an alibi. I don't know if he's got a billion dollar case against apple. Yeah. But they're they're going to be more problems like this, especially since the EU just voted to voted to move forward on new regulation. That would basically unify the entire like biometric database for law enforcement for everybody in the EU s so and considering that so basically if if one of these databases has a false match, everybody's going to have a false match on you and given that we've already demonstrated that not all face recognition systems are half as good as they are in the movie. And that if you are not white you might have a problem being matched with somebody else. Because the it was fly these systems were trained on white faces a not enough non faces. This is going to be a problem. And we're going to see more people who are not whose lives are turned upside down by mismatch. And then quite quite quite with with with absolute. With absolute good reason are looking for somebody to sue. Yeah. It was hilarious to me. Because like we saw the whole controversy with jet blue using face instead of passports, wasn't that interesting. Get on the plane. They're going to do is face ID face wreck. So weird experience where I I have nexus..
"one billion dollar" Discussed on MacBreak Weekly
"Five hour battery life and airports nine hour battery life in power beats. I was going to say exactly what they said that for some people. They just don't find the existing airports, comfortable. So if these are just a better fit for some people and people who've been sort of lessening after truly wireless an easily paired headphones. It's a win. That's what I'm looking forward to the most on that one having that that pain in my ear if after half hour of using the air pods. I'll be I'll be looking forward to something. That's a little softer. They're not as cute though. I'm I'm I'm not I'm not a big fan of those big things chunked into your ear like that. It reminds me of those old bluetooth connectors that people would wear in their ears. So that they could wear Leslie talk on their phones, you know. Too. Young didn't grow up lessening after those big earphones that had the FM radio in the side of it. Oh god. Yes. Definitely every every everyone on roller skates with the park. We're like absolutely the bomb. Finally, a teenager is suing apple for after put the pinky up to my mouth here. One billion dollars claiming that apple was using face recognition in its stores and it led to his false arrest. It's not exactly what happened. He was arrested in November by the NYPD linked to a series of apple store. Thefts in Boston, New jersey, Delaware in Manhattan. But the reason he was arrested is because the bad guys had found his driving permit didn't have a photo. But at his name address and other personal information. The lawsuit claims apple programmed at stores face recognition system to associate the real thieves face with the plaintiffs details but apple says, well, we don't use face recognition in our store..
"one billion dollar" Discussed on MacBreak Weekly
"I love the footage yesterday where he launched showed off the self driving car, and everyone on Twitter is like this is amazing except for the people who drive on the two away to live on that road. And that has never go to work right now. He actually the the the so much funny things it was it was a demonstration of the new next level autonomous modes, basically as an investor sort of pitch and part of it was saying, I think renting you're talking about that person who's talked asking about how poorly people see them. I've got a tesla. And they know that the self-driving technology is very isn't very aggressive. So they'll cut in front of me knowing that the self-driving software and asking can we make the software more aggressive. And I think he was talking about how. Well, yeah. We're we're looking at new like new driving modes, including like a mode that says basically go ahead risk. Fender bender. If you have to add like what and thinking. Okay. So well, the system say only hit cars that seem to be worth a lot less than the tesla or make sure that take look for her. His older then. Do it to a license plate checks? You see how good their that their insurances, and how much money they made last year if they're worth suing then ram, I feel bad because I- Tesla's only two and a half years old. And it doesn't have any of this technology in it sounds like oh, man. That's obsolete. Getting it. No, I I'm a little nervous about the future of of tesla. So I my lease Transat ended July. What do you think? Should I get a model three with his new technology, or should I I know there's somebody who is you. You have to be our test subject. Okay. Well, Oh, you you talked talk me. me. I'll see all also I'm really encouraging people to invest in this technology because already I've people who like Dr manual transmissions that Lord over me that I don't know how to drive stick. I like to be able to Lord over people who again don't know how to merge into a highway without having software takeover. I I I can parallel park, man. And this word me a lot that there's three different autonomy modes, including an aggressive atonomy mode. If you don't mind the occasional Fender bender. Yeah. What? That doesn't seem like a good. Switch to have. Yeah. I don't. I would rather be able to say that. I I traded pate willfully and I- ministered some some street Justice. I don't want my car deciding for me that let's say there's a there's a there's a there's a I see a couple of different infants seats in the backseat. Yeah. Let's just you know, go for it. Them to go. Anyway. Switching your insurance rates. Go up. What are the consequences of that? When do they test that car and say, oh, you had aggressive mode on? So therefore, you're partially at fault from this something like what? Yeah. That's an interesting point apple got FCC approval yesterday for the power beats pro. Now, you're decision. Do I get air pods or power beats pro these use the H one chip the same one in the air pods? The I like the form factor a little better. They've got over the year loop. Does this sound better? I don't know Founded saying. saying. Right. The they got the beats. They got the beats. Yes, we have to wait on that though. Because I I I think that they're, you know, we need to make sure that presumably power beats pro are going to have the same quality an and sort of bass heavy sound as the other power beats or the beats S or something like that. But you know, maybe they're gonna adjust that maybe it's not gonna be. So I I think think we just. we just one hundred bucks more. I think seen at tried them and said they were they sounded better than the pods. But did have that classic beats on like the heavy bass big deal for some people. It's really important when you're making that decision that you understand head of time. What it means to have a base heavy. They're also sweat proof. They're little better for working out because of the year hooks in the sweat proof thing, so sweat and water resistant designed for optimal performance under such conditions. Better battery life to.
"one billion dollar" Discussed on MacBreak Weekly
"You haven't watched it yet isn't as some people watching that. I wasn't on the red carpet. Sadly. Chris Evans and Scarlett invited me, but I just couldn't make it. I'm actually flooded. I'm glad I mentioned duper Gardner in a chat room pointed out the Dave also wrote brief which kind of blows me away. I mean that is a a legendary text editor dos based text editor. And frankly, I think Steve Gibson still uses brief to to code and Maslum. So he's got at least still got one user out there factual, licensed didn't really wow. Computer? That's amazing. The thing about Rx about text editors the thing is is it's. The the the usefulness utility of a text file has not gone away as the is going to turn out to be one of the most important standards ever created for the for the for the communities. Papyrus computer world. I mean, it's you know. Yeah. It's like. It's it's not it's not like a it's not like an adobe product where if you stop paying your license fee? Oh, no. I can't open these files anymore. So you're not lock in is not a problem. Yeah. Right. I loved my favorite. And I mentioned this before my favorite. BB? Edit features that I can use the command line in BB at it. And have ended -able record of everything. I've I've typed in. I just loved that. I, and I don't know if you've got that from the MAC programmers workshop NPWS back when but it was also my favorite feature an MP w I'm really glad to still have that capability. Guess w worksheets for definitely the. For for for show worksheets BB, but we couldn't do them without the MAC OS having excessively Unix infrastructure main reason, I still use a MAC. Honestly. Go ahead. No. It's just just the grip feature alone. Granted an AB at it is it's like. Ability to simply say that never times when I was like what I was still like working in computer labs where like I would solve a problem in eighteen minutes when someone had given me two days to bash text file, and I would have like two days to go play mini golf just because I knew a just enough grip to do a massive search and replace conditionally on in and BB at it. It's like I still can't count the number of Lynch's rich and the rest of the team riches written in a full grip into BB at a really good one very very powerful. There's time there's a tagline in there somewhere. Like now, you've got time from any golf. Galaxy fold release date replace with TB. Yeah. The the galaxy fold was slated to come out on Friday. I was ready to go to the T mobile store on Thursday and get one because I missed out on the preorder. I guess. Lucky? Yeah. Eight bucks. I mean, it's not cheap, and they shipped up review units to Mark his Brownlee. Joanna stern we have two or three of them. They're fine. By the way, the interesting..
"one billion dollar" Discussed on MacBreak Weekly
"I install on. Any new MacIntosh defy now, I have a license obviously have since like PBS five. But how do I get the app store version? What happens to to me? They're so so the world is the in in the licensing sense the world is kind of split one or the other evolutions that took place was that. The subscription model came to the map store. Right. And so we ended up what we ended up having to do. Here was what we wanted to do was to give our customers a choice because subscriptions, even though in one sense. They've been around for a long time and everybody sort of accepts the notion of paying on an ongoing basis for product or service in some parts of the audience some parts of the market. They're still a very new thing. I don't remember when it was that adobe started charging subscription fee for creative suite. It's it was very controversial. But now settle down. And yeah, it was extremely controversial at the time. And a lot of folks had to go through the five stages of subscription green. And so we're seeing a little bit of that now, but to to get back on topic. What we're doing is for our current customers. If you're not in the MAC apps store, anyone what we call the perpetual, license where you buy a license to the version you have. We're still doing that. That's outside of the MAC apps store because the rules and mechanics sort of require it inside of the MAC apps store the way we're able to make a viable business out of it is to offer a subscription. So in either case you've got thirty days to use BB at you get all the features. Everything's there after the evaluation period is over there is what we call free mode and free mode sort of fulfils a lot of needs most people. It's everything you need is is it text Wrangler. Basically, it's it's sort of text regular, plus you, and you sort of beat me to hear because one of the things the free mode. Does is it gives us the transition from tex- Wrangler. Yeah. So if you're using text Wrangler now, and you're running back ten twelve or later, go get BB at it from our website. It's a better product. Anyway..
"one billion dollar" Discussed on MacBreak Weekly
"It's like it's used to be for the past two three four five six years almost that the innovation that I'm seeing in pretty much every other operating system. That's being that's designed to be used for the keyboard? And attract ped-, I'm not seeing that same movement in the MAC, it's the least exciting desktop in. My office today is probably my MAC. It's the I love my MAC the most. But really, even my raspberry pi is more interesting in so many ways than the MAC desktop is. I just I I really would like to see some sign from apple that they really do care about it that I know there are people who are big fans of the of the MAC and apple I'm sure there are no other people who work very hard on it and who innovate as much as they possibly can. But I just don't see from. That's from the other side of the keynote screen, you know, in the audience looking at what? They choose to present. And what they choose to actually ship. I'm not seeing any level of corporate interest in continuing the max, I think you're I think you're spot on. I think that apple does think that the MAC is we've we are passionate is in IOS devices. However, we have a tradition in desktops. We're not gonna let that die because that's like giving away free money, but we feel that it's most useful as a platform for people to develop things for IOS on or as a alternates to cheap alternative to windows notebooks and chrome books for people who own ipads, and and I phone I just don't see them take about. I don't see them ever doing an ad. That says here is here is a MacIntosh, boom. Here is a competing windows device. Boom. Look how much better the MAC is than this other thing. I just don't see them ever taking that as a point of pride anymore. And I just don't know how that's going to feed. I don't I don't know how not making the MAC better and better and better is gonna make better consumer. Max because you start off making high performance, you know, rockets and then two or three years later, you figure out how to scale that down for actual users. They're just not developing the really really good juicy bits that we've really really need to keep the MAC of the viable thing. Rich siegel. You've been developing for them after twenty five years. You're you're amac Stoller. Do you worry about the future of the MAC at all? I see a lot of Meriden in Andy's points. I think that. I would like.
"one billion dollar" Discussed on MacBreak Weekly
"This Clark was when you buy chicken, you should you should have to pay separately for the potatoes. You don't get the potatoes for free. It seems to me that this is a damning indictment of the jury system when it comes to high tech lawsuit. If we have to dumb it down that far we need better. Juries. Yup. Yeah. Yeah. There's no such thing as the tech jury that you have to be like well-versed in in five G modems in order to be able to sit on the jury. So that you can understand what they're talking about. I have to wonder though, if the agreements are April first, I mean, why be so blistering in your arguments, initially, if you know, you're about to settle it seemed to me these these attorneys in the courtroom did not know that a cell only. Only a very very small amount of people in all those companies new and a tiny subset of those near the full extent of the deal. No interesting. Why did they why did they delay? It. It's probably is simple. As negotiating all the thing because they can't very specific Ray apple is paying less nowhere. Nearly as less that they wanna pay, but they did get a slightly better rate. And I saw a bunch of analysis from Ben baharan and just the usual people on what this cost knows disagreement. It's like some people thought they wanted five dollars per product. But ended up closer to seven other thought they wanted six end up closer to eight. So I think we're gonna have to wait till a lot more comes out. But it's a better is it on in one sense every- absolutely everybody one here when the nice thing from just from an apple users point of view is that we'll be getting Qualcomm modems again, which is way better in many areas than Intel modems if you're just dripping and signal it won't matter to you. But if you're in any area that has any problems whatsoever. It's great news for you. And apple got a license. Apple didn't get the chips. They got the license which was part of the bickering..
"one billion dollar" Discussed on MacBreak Weekly
"You're just gonna coffin a big wad. Oh god. No. And a special guest today. Rich Segal is here from bare bones software, the creator of BB edit. Hello, rich. Hello. Good afternoon. Everybody. It's lovely day out here in southern New England stop raining for about five minutes. And yet all the buds on all the trees have exploded. So that. Pan tilt zoom camera over your left shoulder there. What is that? It is. That's that's a fast Cam birdie Cam that I heard him I should have known focused on the bird cages that you can look around and see where they've gone if they if they move. Yes, I can do that. I can also check in on them when I'm when I'm out of the house. Nice. Make sure they're not in trouble while they're never not in trouble. But. At least temporarily behaving themselves to take on her. So later in the show talk to you about BBN, which is now I'm thrilled available on the app store. And I'm sure there's limits about what you can talk about. But I'd love to know the process of all that because it took from the time apple said it was going to happen to now quite a while. Yeah. The the announcement was made at the developer's conference last a year ago Hsun. Yeah. So yeah, we've been working on a pretty steady since then I'd say it's about as much work as went into any major upgrade of the application. So yeah, there there are certainly things that I that. I'm not at liberty to say, but I'll be happy to talk about whatever I can good. Stalwart the entire conversation that you're not at liberty to say. I don't recall. Declined to answer the question on the grounds. That means there you go plead the fifth. Let's start though in the courtroom, which something that broke the like during the show last week. And so now we've had a week to to chew it over apple and Qualcomm, buried the hatchet the day after jury was impaneled the trial had actually begun. Apple it made its opening statements. And then boom, and then very shortly thereafter, Intel said, no, by the way, we're getting out of the fudgy modem business. Incidence correlation causation. Somebody asked a question on Twitter, which was reasonable was when until make that determination after the Qualcomm settlement or before. And did it in other words, did it precipitate? The Qualcomm settlement at apple say, Mr. Intel call minister, apple say, yeah, we're not this isn't gonna work. Mr. apple said in the thing where we could still make them if we wanted to win. Well, see Qualcomm is the one you got to beat, and they are entrenched, and they have really really great technology there. And Intel was always going to have an uphill battle that and that battle was going to be helped if apple became a major buyer, and or if Qualcomm had a major defeat that allowed other lawsuits anti-trust suits, they've got against them to become stronger and stronger, and once they saw the cards on the table day decided that none of this looks very good. Let's get out while the getting's good. They have to have had some indication either is in the courtroom or something or some back channel thing that they knew this was not going to go well for apple one way or another. I think apple also the fact that they folded in one day also indicates that they knew that either late in the game earlier that this was not going to go their way. The arguments. The opening arguments were strange like they brought up Kentucky Fried Chicken or and whether you get the potatoes and the chicken, what your expectation is. And they were all sorts of really like folksy analogies. By the lawyers the lawyers. That's the apple saying oh God. This jury's. Not gonna understand. KFC was the call. I forget apple had an equally absurd analogy though, it was just on both sides. And my my feeling in all of this is that they they've known. No one's really going to win this for a long time and Qualcomm has to be careful too. Because most most regulators hate a monopoly, it's white Intel licensed licenses to AMD way Microsoft gave money to apple..
"one billion dollar" Discussed on MacBreak Weekly
"Weekly the show we cover the latest news from apple Rene Ritchie in the flood zone. But he's still doing the show. You are a trooper Rene can keep me away. Leo, just all the chaos outside goes away because of the order and glory and here, well, and you didn't even do vector. So I mean that's saying a lot. I know just there's sirens. Keep going off in the keep telling us that we had to move our cars to a a civil parking lot across the street and now a high school two blocks away. And then they just there's just things just keep happening enough time to do it. But so good news is your places safe. It's above the flood. Yes. Neighbors on the left a writer screwed. And the other good news is vector hit one hundred thousand subscribers. Well, so many of them were MAC break listeners. I really appreciate it. This all nominal. Andy narcos also hear from the W H bus in public radio nice to have entered. I only I'm only trapped in the flood of my own self pity. I can't create or tears one of the other and Laura Gill is here. Great to have you. We actually have a big audience today managing editor at I'm more. Hi, laurie. I am I allowed to complain about the weather here because the tree cheese are really bothered so hot sunny, I'd never change. Whether the allergies are bad. We are in the height of the season because we had a very wet winner. And as a result of the grasses, everything everything blooming, and it's it is bad. I basically have ants crawling inside my nose and my throat. I'm so glad I don't have allergies. I don't know. How I did that. My body has no resistance. It's just says come on in. No funds. They leave you alone. Come on pollen. Let's all have a party and Leo's knows. Yes, someday..
"one billion dollar" Discussed on The Tim Ferriss Show
"Are so promised would come back to the pinky better yeah so what is the pink ceiling so the pink saline is investment firm meats hell of a great place for mentorship where we make bets on early stage companies buyer for women mostly all health tech and not only disruptive i but often products that can be catalyst and social conversations we care about woobie some example of products so company with a technology that detects date rape drugs in drinks how does detect to color change so put your finger dip your finger in a drink touch your fame gir to the decal changes colors if there's a date rape john i have two nieces in college it's sad that we need a product like this but we'll need to put power in the hands of women great company it sort of the quintessential fit for who we are love the tack first of its kind patented but also just you know love the the social conversation it promotes flushable pregnancy test coming out great female founder i think only a woman would have thought of that you know it's got not it's not your mother's pregnancy test right and in so many ways not only in the echo way but i think also because we have this belief that all women want a certain outcome when they take a pregnancy test and in some women want to get rid of the evidence including women just who are going through infertility and don't wanna daily reminder chum that's a product have a great young female founder who has a biometric sensor to recognize dv deviations in in movement for athletes so they start to signal when you're moving differently in may injure in the future you know and she's such a story i mean.
"one billion dollar" Discussed on The Tim Ferriss Show
"That is actually promote the understanding but you have to appreciate cultures inside of companies certain categories that they're in this would have been paving a new frontier find this so it was i was watching all of this research being presented at the scientific meetings i might to these sexual medicine society meetings and really just cheering it on from the sidelines as a woman like finally we're gonna have one for women and then they walked away and i watched a clinical community go from all of the excitement to this true sadness in delivering this message to women so i spent a year just listening to women after i did that i saw off my company for men and took this on but when i did that i went to this company and i think it was with thanks to the fact that the clinical community the experts in the field were so supportive of me that they gave me the shot so they gave me the drug i didn't pay for it up front they they won win they win so they had a royalty in the case that you know i finally got it to market and in success scenario but it was a bold move for them they've never done a deal like this before and i think they bet on me how did you convince them i don't know that i convinced them as much as those who had watched me build slate and saw who i wasn't what i really cared about and you know i really cared about women having accesses women with a medical condition deserved access to medical treatment not any of our value judgments on whether or not they needed it or the worthiness of treatment with just purely the science had spoken and we needed to listen and i think they knew that that was my definition of success i wasn't in this decrease the next blockbuster drug i was in it to make sure that women have access and then they got to choose from selves.
"one billion dollar" Discussed on The Tim Ferriss Show
"Equal to pro sexual affect got yeah some trying to think okay so d got it but it was not now we're not talking at sits serotonin has an inhibitory fact which is why would what do we know of like antidepressants their most common side effect is actually killing your sex drive so interestingly as drugs are often discovered this drug was looked at for its effect on depression and what you do when you're testing is drugs that you actually have to administer a scale to see how much my killing their sex drive on this particular drugs case it all went the other direction it had a pro sexual affect at that time all of the study changed to look at this condition specifically curiously of quite similar with i don't know if this is due to the tracking i mean there's some maybe folklore in the genesis story viagra yeah same stream yeah absolutely blood pressure medication low behold a really very interesting side effect so the so the the folklore goes if it's true but that the male subject would not give the medication back there hey this doesn't work for blood pressure hey give us our splice back and they're like no we want to keep them it's like wait what so very interestingly when i got to addie i was i built this great company for men i was in this community and the company that innovated this drug originally was gonna put it on the shelf they were gonna walk away from it and one of the great researches in the field when out to women who were in the trials and said i need you to come in and bring your medication with you we're going to have just a normal meeting and he was actually delivering the news that they were killing it that they were killing the development trial and he filmed it and the women were like this giving their back hand handshaking crying and he said you need to do something about this what why were the two questions so why are they gonna shelf it and.
"one billion dollar" Discussed on The Tim Ferriss Show
"And celebrated that in the customer not what she thinks from a pharma company no it's not what other companies did you borrow from or look at wow big and small i mean i think that all of the people who work for me were students of great businesses they became sort of mimics that behavior that my business professor probably taught me at one time we went to seattle seattle used to live there went to the pike place market spent an hour just went out and learn from those businesses i mean we were learning from beecher's you know the cheese shop what did they do exceptionally well how do they invite people into the experience so i can't say zappa's was probably our most formal go together learn from them but constantly like reading or picking those businesses that we loved knows a constant conversation at the lunch table if you were this could be let's just say i mean year high school freshman year of college teaching an entrepreneurship class but the only way you could teach it is by recommending books and exercises are practices other any particular books that come to mind that you would insists they read or particular practices or exercises the you would have people do i would insist that they read purple cow pro gal yeah mr golden right yeah i would insist that they read it about how do you stand out in a sea of sameness because that's that's it i think you know in terms of sales for shore or for entrepeneurship how do you stand out what is going to be your defining difference and how to use attract remarkable to you if you're doing something truly remarkable.
"one billion dollar" Discussed on The Tim Ferriss Show
"I'll take the bait what's the duck we called our duckie because she was always very very calm on the surface but like going like this million miles an hour under navia okay so we're gonna we're gonna come back to the bolt story there i i should just as a public service announcement say to those people out there who do not have commonsense don't just jump up and shout balls in every job interview because you think that's gonna show how old you are yep so and if you do and you don't get hired shame on you but okay in the course of doing some research i believe i don't think i'm making this up that you give everybody nicknames or law of your employees nicknames why is that it is my quirk i've had it my whole life so i know my mother by so many different names that i think people who don't know who i'm referring to half of the time that have known us for years you know i did it because it we'd love to story till we sit around the table we have discipline of having lunch together every single day and that was an effort to not know death by meeting how would we all be on the same page and still create this family spirit and people get to telling stories and of course it's the one that you wish you hadn't told that ultimately arrives at your nickname but the beauty of that is we have a whole ceremony character you get a nickname and it's basically handed over at the lunch table and you will never be known by your real name again this is like the night ding nickname and at what point does this happen is it like your first week on the job.
"one billion dollar" Discussed on The Tim Ferriss Show
"On the so went to work for merck started in pharma because it was fortunes most admired company that's why went there wanna learn from the best i thought i would actually take elsewhere and apply it didn't really think i was going to be so fascinated with the science fell in love with the science and the innovation whether it could mean peoples lives loved what pharma had the capacity to do hated how they got it done in the bigger companies so i made the leap went smaller smaller smaller smaller until i automatically was maybe crazy enough to start it for myself built to businesses both in sexual health people say why say irish catholic of course so bill to a business late with the only long acting testosterone for men and that made me on the path of watching this emergence science for women when the drug when this drug was put on the shelf by the company then vented it i made a decision to sell off and take it on and got the only ever drug approved for sexual desire in women sold that business and now as a pass through do nothing but spend my time reaching my hand back and trying to get female founders there to my kind of outcomes faster than i got myself that was really good the time watching but if i news my spider since i think that's really really close some very impressed and for people are wondering what the hell is tim doing the oddest interview of ever heard him attempt to give it is because why what are the last two questions haven't come and why did i ask two questions you've asked you questions because i love to ask those questions of everybody i interview because i think that if you'll just be quiet and listen what she heard a little bit from my background people will tell you a lot about themselves and what their motivations are so that was always probably my initial question and interviewing and figuring out from people what they would tell me about themselves would you look for or.
"one billion dollar" Discussed on The Tim Ferriss Show
"All of that preamble and without further ado as i always say please enjoy this very wide ranging and what i found to be very enjoyable conversation with cindy whitehead cindy welcome show thanks for having me i am very excited again and i thought we could start in media rests as they say novels restart right in the middle of the action so we're gonna bounce all over the place as i always do gp morgan healthcare conference i've heard some sort of murmurs about stories and getting attention or people to focus could you please describe for folks what happened often said they is conference in healthcare get invited in i have eight minutes dear die so proud of this opportunity again front of the room you can imagine here's me in hot pink head to toe i start to talk about women in sacks and the whole room starts to giggle i can feel this giggle going off across the crowd and i'm panicking like watching the clock countdown seiken remember reach into my laptop fest rain as fast as i can to slide that was just brain scan studies studies of women with this condition versus women without we're in black and white we could see there's a biological basis to women's lack of desire for sex so i turn put the slide up i turned and pointed long enough for it to be uncomfortable for everybody went silent and when i did that i said are you looking at what i'm looking at because i'm here i'm just here to talk about the biology of sex for women is an important lesson for me of what i was going to have to do to make people focus the silence do the work it was uncomfortable it was long enough for it to be uncomfortable for me which was fair trade for them having made me really uncomfortable they started taking wouldn't pay attention to the silence.