35 Burst results for "Ten Twenty Years"
Discussing The Golden Handcuffs Trap With Graphic Designer Anthony Banks
"So you're you're working a staff job and you're thinking okay. Is this just me slowly dying. And i'm getting paid and there's a comfort and security in knowing that there's a regular paycheck distress over finding work all the time but then there's no real fast way to get ahead right. Yeah i mean there's there's always move out to up that's kind of what we do In our industry but then you just end up at another job. Kind of just biding your time. Until you think you're ready for a promotion or a pay raise or something and then you just move somewhere else at. It's it's just like a slow predictable path and it's not very appealing when i think ahead like ten twenty years. Yeah and how long have you had this job. I've been at this job a belt three and a half years which is about the the average stint that. I'll i'll be at any one place i see. So you're coming up on that and you're getting the aging yen. Okay let me ask you a couple of questions. Are there a lot of job opportunities. In nebraska there are I live In the capital. Which is lincoln. And i work in the biggest city which is omaha That's where berkshire-hathaway is based at of. There's there's a lot of industry here. There's a lot more design in advertising. Things like that than i would have ever imagined when i first moved here. I'm i'm originally from southern california and you have this. Perception of the mid west is just farms and cows and All that kind of stuff. And i've been shocked. At how much designed there is here. Okay so there's plant it's a healthy job market for a person with creative services or craig's skills right. Oh absolutely okay all right. Do you feel that. You have to stay for certain reason that i need to stay in my position I don't feel any compulsion to stay. I can't say in all honesty that this has been the best job company culture that experienced in. Gosh like but twenty years. I've been now all the stuff i mean. It's it's it's rare you know so it's the idea of of leaving it for really anything else especially another company. That's kind of not appealing. Because i know what the alternative could be like and that this is rare. So there's that part of it that's that's teetering me there and i mean they pay me well. I have great perks So it's all is that The golden handcuffs. A little
Software Consultancy With Ryan Vice
"Welcome ryan a ohio. John me yes so before we jump to the meat of things. Would you give our listeners. Like an introduction to yourself perhaps Tell them how you got started in the industry sure have been working professionally in software or twenty one years. Now i got my start just graduating graduating out of a math degree i graduated straight into the twenty twenty economic l'amitie So pretty Pretty interesting time. I mean my wife and i have a pretty Pretty new to where we were in our holding. We're getting ready to get married and all of that and I thought that we were making so much money. I was like man. We might need a free nuts and that was clearly a huge mistake. And you know something. That was a very embarrassing now for me to talk about because like wasn't even six months later and the whole economy ashton i was unemployed and spent the next four years getting laid off in the second week of january. Which was you know quite quite a ride all the school. And you're thinking you'd get out and it's gonna be awesome all that and it was kind of awesome for six months or eight months and then you get laid off and then be depressed again. All this So that adams about four years and that's actually what got me started in consulting once. I switched consulting. It felt better because like contracts. And it's not like you have to. Have you know you know emotional. Ride getting laid off in that. I had actually switched to dot net at that time because that was brand new was dnc plus boston. Plus you go up against developers with you. Know ten twenty years experience pretty easily and i only had four years in the market so dot net had just came out and i figured you know if i do this for year. I'll have you know. Almost max experience so that worked out pretty good and then once i wish into dot net when i got laid off your ear. I noticed that there was always a few people in every project who didn't seem like they get laid off and seemed like they had a lot of autonomy at work and that the politics didn't matter and they were usually really good had At the co in the business really well and stuff like that. And so i put my on. That as a goal isn't good enough at this stuff You know they'll get job security. Because i'm not getting jobs carrying out of the way right now So that happening really focusing on kind of leveling up continuous improvement. That kind of stuff and then. That's where i got into the Community side of the dot net organization
"ten twenty years" Discussed on Heartland Newsfeed Radio Network
"Lot of them were white house. and I want to say this he. We seem to cream. And i need to point this out because a lot of his victims were jewish. And you know if the to cry. Anti semitism what they should say. Look guys like bernie. Madoff a george charles. But you know what's sad. I thought if you wrote a bank for five grand five beasley grand. You go to prison. I don't know even if you don't kill somebody. Ten twenty years and beta got sixty five billion and he was the poster boy. This many others on wall street stolnis just basically put away as well practiced double standard. I wonder if there's something real quick scott you said something like The juicy to be speaking out against people like bernie madoff or whatever this is essentially the same thing that people say about muslims. The peace loving muslims should be out there speaking out against al qaeda and isis. And i mean first of.
How Does When You Are Born Affect Who You Are?
"Does when you were born affect who you are in my econometrics class or talking about instrumental variables and one thing. That has come up. Is that while you may think that the time of year someone is born is a great random variable that can be used to make more robust estimates. It turns out that when the year you were born is actually correlated with things like parents income or mental health outcomes. Is it true that people born at different times of the year different does this mean. Horoscopes are in fact valid. Thanks alkaline so the way. I would think about this. Is there at least two major dimensions. One is that the time of year born or more broadly. The year you're born in what's going on in the world then may have some natural ish effect but then there's a very different dimension which is how the time you were born again. What's going on in the world where the environment can change your outcome. And that gets even more complicated. Because then we're talking about parental behavior and that parental behavior may be pre or postnatal. And so on. I don't know how much your parents or your family care about. The traditional chinese zodiac. But i am curious. What sign you were born under and how it's influenced your life. I am the year of the dog and everybody has good things to say about their year but the year to be is apparently the year of the dragon. I'm not a dragon so my parents. I'm quite sure did not plan my birth around the lunar calender. That's fairly because i'm told by my sister that i wasn't planned at all boy. Okay i'm not going to get into that but it seems as though there are quite a few chinese and chinese american parents who do delay birth to the year of the dragon. Yes because there's a spike in births. Among certain communities across the globe during that year. I find this research on the year of birth according to lunar calendar in cultures that really respect that mind blowing. I remember when my grandmother passed away. This is my mother's mother. Apparently they had to wait for a lucky day to bury her and that was months away so they they waited. Wow there's also some research suggesting that in addition to the decisions like to have a child or one to have funeral that actually life outcomes can be influence because of parents expectations and amount. They invest in their children's education etcetera. But i do know that. Children born in the year of the dragon to chinese or chinese american families that they do get more education. They have better lifetime outcomes than non dragging your children. We did do an episode about this years ago with freakonomics radio but according to that research it is on the parents guide which is basically once. You've got a dragon in the family. You invest a lot in that kid. Is that your understanding. That is my understanding if you are living in a culture where someone says hey. This is the lucky year. And then you're lucky enough to be having a kid that year. Then maybe when you're making decisions about whether one is gonna get extra tutoring give it to the lucky kid right because you know there are dragon but also would there be a little bit of something like endowment effect there like this. Is the child that we created on our timetable and therefore we feel a little bit more invested in this one not so much because they might be lucky because this is how we planned. Oh absolutely. I don't think it's necessarily that you give the child. The extra tutoring because you think the child is luckier. But because their dragons and they're going to do more with that tutoring the research that it made me think about is in psychology and it was by bob. Rosenthal have you heard of the pygmalion effect. Yes my fair lady. Yeah probably more people have heard of my fair lady than teak malian or the pig melon effect but the original play was called pygmalion and that was of course after the greek myth that pygmalion created a statue. That was so beautiful that he fell in love with it. But the plot of my fair lady. You have elisa doolittle who needs to get rid of one lower class british accent. In order to acquire a higher class british accent. And the reason. I bring this up. And the reason why the psychological research was called the two million. It's just that the expectations. Not only that you have for yourself right. Not only eliza doolittle's expectations for herself. But actually henry higgins her teacher his expectations for her. We're going to put the thumb on the scale of her destiny and if he thought that she was going to do great maybe he would act in ways. That would actually make that prophecy. Come true so. These are behavioral components and belief and preference components. Let's go back for second to the biology question. I don't know much about this. I've done a little reading. I'm curious to know if you know more but in terms of biology the month of year that you're born to the season that you're born. I have seen some arguments that to me. Look between week and mixed that there is a strong effect. I read one piece. For instance argued that babies born in the spring are more prone to optimism but also more prone to depression. And i realize they're not polar opposites necessarily but it does make me feel like some of this thinking may be like i said somewhere between week and mixed but i'm not ready to dismiss it in part because there's been so much interesting science in the last ten twenty years on circadian rhythms and how real they are. According to time of day so month of year might also have similar effects. I'm curious if you know or think anything about that. I know very little but it would be hard for me to believe that the time of year that you're born which of course has its own particular is for how long the days were versus the nights and also by the way other things like the availability of nutrients vegetables being in or out of season of course less relevant these days because we can get our strawberries year round but i wouldn't be surprised if any of these effects were huge. I can maybe imagine a small with tranquilly but nothing large because there's so many other things that would swamp the effect of you know it was a six hour daylight day versus an eight hour daylight
How I Built Resilience: Michael Horvath and Mark Gainey of Strava
"But before you want to ask you about the business model Is free to use. There is a paid subscription side to it. it's a freemium model. A lot of brands uses. Dropbox is a great example. We had drew house on the show and think he said something like three or four percent of dropbox users actually pay for the product. But that's more than enough to make it into a profitable business. Tell me a little bit about your business. Because they don't think you advertise on the app. Right we don't we focus on building things. Athletes love to us and are really glad to pay for an tell their friends about that's the aspect of our subscription offering and it's a number of different parts of the experience that you get when you when you subscribe that make it even better And so by focusing on building things that athletes love that builds a great business. Yeah mark yeah. I know i think michael hit the nail on the head. We really like this idea of having just one customer that we can focus on and that is the athlete for us if you sweat. You're an athlete. It doesn't matter what pace you run. It doesn't matter how hard you out. If you're going out and walking the dog on sunday afternoon put it on strava. That's fantastic for them in and for us and so. That's the idea is to focus on that athlete. We love our free members. They're contributing great content and activities and and being part of the community but our focus is to convince them that there's something here worth paying foreign investing in and together. We're going to build over the long term. Npr's a great example as public. Radio's greg sample because we offer all of our content for free and we hope that people will voluntarily contribute to stations and i think almost ten percent of public radio listeners. Do they voluntarily contribute to their station. But it's a social contract is like we kind of hope. Most of you will in that model works. I know you can't talk about because you're privately held and you don't talk about financials and so on so forth but can you give us a sense of whether the business model works i mean. Can you talk about whether you're you're profitable yet. you're right. It as a as a privately held company. It's not something that We share what we can tell you. Is that when we focus on things that athletes love. It really does make for a strong business and so we have. We have starting point of mark mentioned. That customer is is the person who wakes up every day wanting to be active. And we wanna help them. We want to bring joy to their lives in the movement that they do. That is the basis of this twelve year old old company. We started with a team of six of us with an idea that it didn't have to be big. It had to be great. It had to make meet something meaningful impact in people's lives and we're here twelve years later and growing and thriving. It's been a fun journey. And we're really looking forward to the next twelve plus years a lot of folks watching our early stage entrepreneurs small business owners and they look at people like you for advice. So here's a question that i left to to hear your answer on You have investors. You've raised tens of millions of dollars in those investors at some point one a return on their investment so you have resisted advertising on the platform. But you've got tens of millions of eyeballs on your app. I mean you've got a lot of people who who use it How do you resist the pressure to run ads because at that would be an easy way to to clear some cash. It's we watched social dilemma recently guy and you know this notion of if you're not buying the product you are the product and i really. We believe deeply in that thesis. As we're we're convinced that there's a capacity within this fit community to continue to support and grow this business whether investors are excited about. Its we've not felt that pressure from the outside Do we believe that there's opportunities for diverse finding kinds of services. We offer over the next again. Ten twenty years of course but we really are stuck on this principle that you need to understand who your customer is and stay focused the only to add that you also get to pick your investors so for entrepreneurs out there as it is really important to aligned. What you see is the vision for your company with who you're bringing in to help you grow it. And we picked our investors really carefully on that regard. Let me ask you a question about privacy. Okay i'm one of these people who has like twenty burner email accounts and i use that for pretty much everything i sign up with even though i know that doesn't matter because my iphone knows who i am but i've got this this ring here that tracks my sleep. So they know me. It does concern me. Because i i really am worried about privacy. I know you guys had a feature called fly by that you you now allow people to shut it down. Basically allowed you to you. Know when you're passing by somebody you could see. They're running route. And how do you deal with this question of privacy because people are becoming increasingly aware of how important it is to maintain privacy so you. I mean for better or worse. There's a lot of information that is you know that that's on the app that is revealed on straub. You're absolutely you. you hit the nail on the head. It's it's a. This is very important to us. Because it's very important to do the athletes on strava. So we take our athletes data and the privacy of that data very seriously and we are working all the time on trying to make sure that we're providing the right set of tools and understanding of how to use it in the way that you want to. You can use it in completely private mode. You can open it up to a larger circle and you can be completely out there in public but the important thing is making sure you can educate people on how they wanna set that level of privacy for them and for their needs and thinking ahead. So we've done a lot of things over the years and we're never done it's like it's a constant constant pursuit of making sure that people understand how to stay in that mode of feeling. Good about the information they are sharing and we can go some things that have very specific things. Like how do you educate people on and experience that they may not have really understood yet. When i joined so you have to continually remind them that the privacy settings are there and and think ahead and that's why for example making fly bys something that you have to opt into was really important to us so that someone who joined may not even understand what that feature means wouldn't inadvertently be
Agriculture Industry Bets on Carbon as a New Cash Crop
"The newest cash crop for farmers may be greenhouse gas some farmers who normally make their living raising crops in the soil are now getting paid to use those plans to capture carbon dioxide from the air and put it back in their fields. Big agricultural companies including bayer and cargill are jockeying startups. On these initiatives their goal is to incentivize farmers to adopt climate-friendly practices and developed markets for carbon for more on the story. We have jacob bungee who covers the agriculture industry for the wall street journal. He spoke with our charlie turner jacob. How exactly does this. Carbon capture system work. This is a system. That's based around voluntary offsets or credits. Being purchased by companies and these could be food companies. that could be an energy company. It could be tech company that says they want to reduce their greenhouse gas emissions by some amount or achieve net zero emissions in one way that they're now going to be able to do. This is by effectively. Paying farmers who raise crops like corn and soybeans to manage their farms in such a way that the fields the soil captures carbon and stores it in the dirt and the reason for that is because plans grow. They withdraw carbon dioxide from the air. They use this in the process of photosynthesis to produce energy to grow In that process the plants then release carbon into the soil. there's no federal requirement for companies to offset their greenhouse gas emissions by buying credits from farmers. So why are companies interested in this over the last ten twenty years even longer you can see examples of consumer facing companies. Want be more sustainable and any number of reasons for this. I mean some of the have this. As part of their corporate mission as important to the founders in other cases it helps draw consumers to companies and and try to have more of a warm and fuzzy feeling by using their products or services. And so while there's no federal requirements for these companies to go and purchase carbon credits or or reduce their greenhouse gas emissions. There's a commercial incentive to do. So could you points with consumers it can be for all the the companies view. It could be the right thing to do. Farmers have long struggled with low crop. Prices how does this benefit them. Well the benefit for a farmer could be getting a check for doing this. This stuff that we talk about which for a lot of them is the type of thing that they're doing anyway to enrich their soil to get better crop yields for their typical crops and the end result is as we say is that farmers can potentially get paid for this. The company is a are pursuing. This we mentioned some of them. Bear the owner of the monsanto seed business a big agricultural company cargill one of the biggest traders of grain in the world. There's some startups pursuing. This and the idea here is that they can quantify how much carbon these farmers are are questioning in their fields with these practices a certain number of tons per acre they can be paid by the ton or paid by the acre for these practices. All these programs now are in their infancy. In some cases they're pilots and other cases they're meant to be long lasting things with just that the the first innings however the companies that are pursuing this as well as some of the farmers are hopeful that a demand from big companies that want to reduce their carbon footprint or be able to offset parts of their businesses. Might come into this market. Push up the prices for these credits. At the farmers are generating and then in turn produce more income for the farmers jacob. What do environmental activists say about offering credits for carbon capture. Well broadly speaking to the environmental community supports the basic idea. Here that if you manage farm in a more environmentally or climate-friendly way they can have an impact on carbon in the atmosphere and the way that these things are structured. They've got some questions. Some reservations One just in some sense being a philosophical one that if you are offering are making available to a polluting company a carbon offsets that reduces the the environmental groups fear that reduces the incentive for that polluting company to clean up its own operations can continue to function as it has been And pay farmers on the other side. And how does the incoming biden administration intend to approach these sorts of programs. Well tom vilsek. Who was an advisor to the biden campaign and now has been picked to potentially head the usda again. He led the the us department of agriculture during president obama's terms he's talked about putting federal. Usda conservation program funding behind this idea effectively using some conservation programs to incentivize farmers in the same way so the biden administration plans to to put the the federal emphasis behind this same exact idea
How extending unemployment benefits leads to a stronger recovery
"Long time right. So there's this team at georgetown the got access to the right data to answer this question. The bottom line is that workers can use unemployment benefits to meet their basic needs while they're out of work. They're able to take the time. They need to find the right job for them. Rather than taking the first thing that comes along this helps workers find jobs that pay more and it helps employers find workers with the skills that meet their needs and we call that a good job match which all makes sense but the ethos of unemployment in this country at least on a surface level is both for society and also for the individual is man. I gotta get off unemployment soon. Because i've got to get a job because i need to jump right exactly yeah. The entire research literature around unemployment insurance is really characterized by this idea. That the longer taking me to find a job the worse it is. This study is really exciting because the research team is turning that idea on its head and it's challenging this logic it. What if taking longer isn't actually bad. What if it's good. How does it talk to me about the mechanics. How is it better shirt. So when i have the money that i need to put food on the table to keep my lights on to pay the rent. It means that. I can take the time i need to find a job. That is the right match for my skills and my needs and so then when i get matched with that job take it so it takes a little bit longer but then i end up with a job that generally pays higher wages and takes advantage of the skills they have to offer. And if i'm passing off a job that is not a good fit for me at least that job open for a worker. Who is the right thing. And that's creating a chain reaction that spreads throughout the economy and then the flip side that if you take the job that isn't right not only will you be not happy and maybe not make as much money as you might ordinarily but you might eventually leave that job and then the spiral continues and then you get to. What j. Paul talks about all the time. Which is this lasting damage thing exactly right. So we see scarring effect. Unemployment that lasts throughout workers careers where they see lower wages ten twenty years into the future because they're matching with those wrong jobs so as we wait for congress to decide what it's going to do. Are we in that zone already where people are taking jobs. That maybe aren't the right fit right. Have we missed the boat as it. Were i absolutely do not think we have missed the boat. So the pandemic emergency unemployment compensation is expiring the day after christmas. And if we let it expire we're going to mmediately cut. Two million unemployed workers off from any income from unemployment benefits shorten their time on benefits for millions more. And that's going to start. This spiral of families hungry rent on paid workers. Taking bad job matches right now. Congress is in the middle of negotiations they have a chance to extend those pandemic emergency benefits so that workers can wait for job. That's right for them. Not only for their skills and their wages but also a job that is safe and is a match for their health needs and the health needs of their families. Alex cooled worth is the director of family economic security policy at the washington center for equitable. Growth alex thanks a lot. I appreciate your time. Thank you on wall street today. Not a whole lot of enthusiasm except for airbnb which on its first day of trading was up one hundred and
"I think the phrase people. Use. Like tastes and smells as a pristine rush. It's like don't not. It's a sensory equivalent of that when I hear it. All of those things that only in two thousand become pretty fresh in my mind but I mean it just is one of those things where. Just, generally, time passes. So quickly in your often unaware of it and then it takes like him. Like a delineation. Wow To ten twenty years ago. So this is it's. It's almost off my life.
Older Workers Grapple With Risk of Getting Covid-19 on the Job
"Around eighty percent of COVID, nineteen deaths in the US, are people sixty five, an older that same group represents seven percent of our overall workforce as businesses reopened. There's a special challenge for these workers and the companies where they work. And some older Americans had to keep working even through lockdowns. The Wall Street Journal's Jacob. Bungee is covering this and spoke to our Mark Stewart. Are Any professions or any careers more at risk well, we looked at a lot of the essential functions, the jobs that needed to keep getting done through the height of the pandemic here over the last couple of months, and in a number of these people over the age of sixty five made up a substantial portion of these professions, workers and look at. At something like transit bus drivers for example, the city mass transit system is about sixteen percent of bus. Drivers were sixty five and older and other professions like ambulance, drivers or personal care also had a fairly significant number of people this age, so these are frontline individuals. That's right. These are people that needed to show up to work in some cases. You know it's a range of experiences of these folks. Some of them need to keep doing their job to pay their bills. The pension systems broadly speaking of weakens over the last ten twenty years, and so there's increased need for some people keep working just to make ends meet as they get older ages, but there's also a fair number of people that just want to work and remain engaged in their job and feel like they have an obligation. If they can work to continue doing so, so you see a lot of that as well and these people, this age group, continuing to clock in even though the risk to them, contracting the corona virus on the job is fairly substantial.
How B.C.'s Indigenous communities are facing climate change, and creating solutions
"The signs of climate change are everywhere. Lighter snowpacks others rising water levels and the conversations around climate are shifting just two years ago the phrase. The green new deal was just a bullet point in political platform since then it's expanded into a worldwide phenomenon and a solution. Some feel will slow down. The human caused portion of climate change. Jillian brave noise cat is been there. Every step of the way he worked with elected officials to help draft the green new deal resolution. Julian is a member of the Canam Lake Ban to cast skin in British Columbia. Hi Julian welcome back to the show. Thanks so much for having me so first of all. What is the green new deal so the green new deal began as a resolution introduced by representative Alexandria costs? He'll Cortez of New York and Senator Ed Markey of Massachusetts. It's a resolution with big ambitions to take on the dual crises of inequality and climate change but the discourse here because America's media market political scene often spills over into Canada and Europe and elsewhere has also been picked up by sort of more left leaning forces in other countries so the New Democratic Party. The Social Democratic Party in in Canada picked up the green new deal as part of their platform and has been talking about it in the Canadian context as well and use climate activists who are also sort of affiliated with the left wing and Canada have also been talking about potentially a a green new deal for Canada. What the green new deal is in. That is big jobs infrastructure investment. Sort of package so your listeners might be familiar with sort of carbon price and tax approach. That has been led by the liberal government in Canada and the distinction between that approach and the green new deal is that rather than sort of forcing consumers and businesses to have a off where they have to pay higher prices for gasoline. And things like that to sort of benefit the environment and to lower emissions. The green new deal says that we should invest in decarbonising a whole set of industries and sectors in a way that will create jobs and promote a more fair and equitable economy. Why is this important for indigenous people in Canada so I think that first nations and indigenous people in both the United States and Canada have played an outsized role in the fight for environmental justice over the last ten twenty years? Maybe even further back. If you look at the history of resistance to pipelines and Forestry and mining you know first nations have often been some of the loudest voices you know. Putting their very bodies on the line in front of pipelines and projects. That are going to damage the environment and public health. So I I would say that. A lot of the grassroots energy of the green new deal comes from first nations for example representative Alexandria. Cossio Cortez the politician who led the charge for green new deal here in the United States actually got started as a volunteer organizer. Supporting the move. Minute Standing Rock So I would say that. The indigenous movement both in the United States and Canada really has played a significant underlying role. That people haven't fully appreciated in producing the green new deal. I think the questions that first nations sovereignty and rights raise for the green new deal or not just the fact that communities are disproportionately harmed and polluted by the fossil fuel industry in particular and other extractive industries more generally but also you know what it might look like to in both the federal systems of Canada and the United States to incorporate first nations governments as equal partners in the federal system. That is that is pushing for action on climate change. What would it look like for first nations governments in in Canada and the United States to lead a transition to clean energy to create a lot of the jobs in their communities to be empowered as environmental stewards in protectors? And I think the examples that we should be looking to are things. Like the Guardian Watchmen program in the great bear rainforest. Other parts of Canada where first nations twenty thirty years ago stood up against logging and forestry and now today employ some of their own members as environmental stewards and protectors making sure that some of the most important carbon sinks in North America remain protected and can help us in the fight against climate change. So I think it's those kinds of things that we should be thinking about and then abroad or sort of intellectual and philosophical sense. I think that climate change really is an existential threat for humans and human societies around the world and of course you know first nations you know what it means to live. Through an apocalypse we lived through the apocalypse of of colonization. We lived through the apocalypse of our children being taken away to residential schools Canada and boarding schools in the United States and in a broader sense of human sort of confronting this enormous tragic upheaval to our societies. I think that you know indigenous people in Canada and and more generally actually have perspectives and experiences to lend to those set of
20 Minutes With The CMO Of Crossrope
"Well surge. Welcome to the show firstly. Thank you very much for taking your time. Talk today now. Thanks for having been really interested in this topic. It's something that I've always tried to do. The pulse like I'm sure many people that have customers of the past said they struggle with it and they give up so we're talking today about jump. Raven crossroads in particular. Can you give us a bit? More context about crossroad. An-and really how you came to be involved with with with business. Yeah absolutely so cross up. It's a it's a unique jump rope. Workout experience We created some time ago. Really with with this idea of giving people a funny way to get fit you know wherever they go And we'll get into the benefits of jumping rope. I'm sure but I joined the business back in two thousand and fifteen but really been jumping rope probably for the past ten twenty years. I'd say I think I I. I picked it up when I started boxing back university on known to go to tool for endurance and whatnot and I found that it helped a lot with my work that I played a lot of basketball growing up and still do and then you know even when I put the boxing gloves down. It's just one of those tools that have always kept around in my gym bag and enjoyed using it as a one tool. Eventually a came across the crossroad system. Back in two thousand twelve two thousand thirteen when it? Kinda I got introduced to the market became close friends with our CEO. Right right now and in the system similarly changed the game for me. Kind of became one of my go-to tools. It's really because of its unique design about our systems. We've created interchangeable set of jump. Ropes where you can easily clip in different weights and ropes in and out of your handles and that gives you more engaging in Bristol workout. Then you know what you get with a single. Abc Rope so similar to how you'd maybe have a wide range of dumbbells in gym and we like to offer different weights. Ropes that help with different fitness fitness goals. And so another thing that we really focus on on like jump. Ropes are ropes are S- are primarily designed for jump rope fitness so we've built on specifically along with their APP workouts. Help you get lean build endurance and build strength so they're primarily. Ah Fitness tool and with that. We've we've Created a companion fitness APP. That gives you access to you. Know hundreds of really workouts You can follow along to and do do anywhere really in thirty minutes or less which considering these schedules these days. Everyone's on the go. All the time is exactly what we need to even now the situation of like staying indoors. It's perfect time to pick up a rope and just do that anywhere wherever you in a house for example yeah exactly Amina Sometimes You know we'll get a lot of questions about the benefits of jumping rope. And some of them are obvious and some of them are not obviously great for building endurance and Cardio floodway but the portability of the tool especially in today's day and age on the ability to take your workouts anywhere and like you mentioned them at home is really important for a lot of people you know even before the craziness of today. We talked to a lot of people people who love the ability to be able to squeeze in a workout at lunchtime. You know we've pulled our community recently just to kind of get a sense of the versatility and different ways. People are adding jumper workouts into their routine and at the list really goes on. I mean some like I mentioned earlier. They use it does warm up others use it. As a workout finisher others added to their strengthen hit circuits some use it in place of Iran or combine it with Yoga practice. And so it's really. It's a really interesting tool for anyone who's looking to add it to whatever it is that they're all redoing. I hadn't even thought about the benefits to things like footwork. When we're talking about boxing honestly stereotypically in films and such you see people always jumping rope and you think that's obviously that warm up endurance. But you don't even consider the additional supplementary benefits like footwork which is obviously such an important parts of sports like basketball boxing even things like NFL. Everything thoughts you still need to have quite good agility. And that's the such supplementary benefit the thing necessarily comes to mind. Yeah no absolutely and that's something. I saw firsthand when I first started using it back in the day in day in. And it's something that I feel like. Sometimes there's a bit of a stigma with jumping road that you need to be well coordinated or athlete to be successful with it. And that's something we've really tried to think about when we built the cross rope system and what we've learned by running workshop shops especially early on is that we've really found a way to drastically accelerate the learning learning curve and That religious goes into something. I'm sure we'll hit on. But it's the the weighted rope aspect and so when a lot of people. I started jumping rope or they try to learn how to jump rope. It's typically with the CDC ROPE. Something you'd you'd find out that. Nisar Department Store what most gyms Carey in trouble with that. Is that throat this to light? And so if you're struggling with coordination or tiny becomes really difficult to tiny jumps and that's where a lateral a lot of mistakes in triplets. Happened in where the frustration comes from. And so what we've done is we've introduced a range of weighted ropes in for example when we speak with our customers were just getting started. We often recommend a half pound. Roper Market Lean set and it's ideal getting started or because what it does is it slows down your rotation and that extra little bit of resistance makes it easy to feel the rope turning around your body and that helps with the timing the coordination so you know we have seen people who try jumping rope with plastic. Pbc ropes. I should say in the past go from struggling to string along fifty to one hundred jumps within five minutes so I think the that piece of it. The coordination is super important from both sides of it. You're already in athlete. Experienced Stephanie. Going TO HELP IMPROVE. foot speed. And if you've never jump rope before you feel like you're not at that level yet. In terms of coordination there are ways where the system kind helps you learn this particular skill and exercise very quickly. I think what's touchback on? Then is that you mentioned. There is some stigma. Wave jumping rope. We think because of it being portrayed in films and other forms of media crossovers and all sorts. It makes us being the we. The average person have tried it before. Call just dive in and do it. And I've always said to myself the arm too heavy footed or to not like my feet. I'm really bad at jumping rope so I just stopped myself from other trying even though I know. Be a helpful tool. So how are you trying to help? People get over the stigma to understand that it can be for everyone. And if they gave the Patrol I really understand what you mean by. Having a slight resistance failed to get more controlled. How you hoping people vs into that transition of like item do this. We try to tackle it a few different ways. And I'll tell you a quick story. I mean when we were at the Arnold Classic in Ohio a couple of years ago you know they have like two hundred thousand people walking by and we held a little sixty second challenge at our booth where it was basically a you know trying to do as many jumps as you can with a one pound and winner at the end you know. We gave away a couple of a couple of sets and it was really opening to us to see just how little people know about way. Ropes feel that you get and it's and it's you know when we see you know big guys come by and trying to do this challenge and the just getting absolutely winded within sixty seconds looks on their faces really kind of told everything and so for us. It's been a challenge to kind of share that experience through our marketing and through our storytelling and saint goes with you. Know getting started because of the stigma because of the challenges people may have faced in the past and what you may be seeing in the media the ways we try to approach it is really through education and so we try to share the experiences of other jumpers in our community who have kind of gone through that experience themselves we have a lot of tutorials and beginner oriented. Workouts are fitness at and so we help guide people through those where it really helps. You know how to get started. I feel with other jump ropes. You don't really get the content piece in that sometimes make makes it really difficult because you you get the rope in. You're not sure what to do with it. And then you know we I think the most interesting pieces just People don't know what to compare it to the weighted rope aspects. Because they've never tried anything like that and so we really try to make it as easy as possible to give cross rope a try so you know we we have a sixty day. Return policy rarely used. You know we we tell people hate. Get the ropes experience for yourself. See The difference. If you don't like it we'll take the we'll take it back and give a full refund in through those efforts. We've got a lot of people to give the system a try and once you try it. You instantly know the difference. He has certainly see it for yourself. Because when you feel that resistance heavy rope turning around your body at it's a game changer. As it was for me when I first tried
Big Banks, Airlines, March Retail Report
"It's Wednesday April fifteenth. Welcome to mark. I'm Chris Sale with me today. The one and only Andy Cross could see my friend. Hey Chris how're you doing in there? I got coffee. I'm good good to we got. We got a lot going retail. We've got airlines. We'VE GOT ENTERTAINMENT. But we're GONNA start today with the big banks because it's earning season and the as an industry. The big banks sort of lead the way Goldman Sachs and Bank of America both out with first-quarter reports Goldman Sachs profits down. Forty Nine Percent Bank of America can take some small solace in the fact that their first quarter profits. Were only down forty five. Yeah it's it's the real headline I think from the banks. Chris is just the reserve the loan loss reserves. They're taking now in this quarter so when you look across almost all the banks. That's been the biggest hit to the prophet picture. The revenues were somewhere in the flat. Picture for example Goldman revenues were flat. Gp Morgan's revenues were down like three percent wells. Fargo was down down about eighteen percent so the revenue lines weren't such the concern. It was really much more profit picture as you mentioned. And we're just seeing that show up in the earnings per share of these companies but the biggest part for that or these loan loss reserves that these companies have to the banks have to set aside in the expectation that the economic crisis. The pandemic that we're facing is going to cause some of their clients both on the consumer side and the commercial side to not pay their bills and so they had to set aside reserves for that. So when you just look at like what happened with with Goldman their earnings down forty six percent and they set aside nine hundred thirty seven million dollars this quarter. That's almost as much as they sent. Set aside for all of two thousand nineteen and that's four times the amount that aside in the first quarter of two thousand nineteen and you see the same thing across all of the the big banks. Gps set aside an additional six point. Eight billion dollars. It's four point. Four billion in the consumer side mostly for cardholders and the rest on the on the commercial side and across the entire company. That say this is ten billion more in reserves than a year ago. So you're seeing these banks really start to ramp up their preparation for what they expect to be. A very tough market of the next year I would also think in the case for every one of these banks has an investment banking arm. Goldman Sachs is the clubhouse leader and I would think that as we are in this environment where it's really hard to imagine any company going public in the next say at least two months Probably closer to four to six months That's one more thing that a bank like Goldman Sachs has to worry about. Yeah Chris absolutely right. So there's just these very high margin parts of their business that are going to start to see. Oh the fluctuations if not complete drops because that market has really started to soften. What's interesting on the Goldman side and Goldman's really going through this this reform under the new? Ceo Their new their new CEO. The bank is really kind of struggled. It's such A. It's such such known as such a class name in the banking space but the stock has actually struggled and the returns on equity have actually trailed their peers over the last few years. There's a real push by the new. Ceo David Salman to start to really invigorate Goldman Sachs again. So we had this whole plan when he became. Ceo after Lloyd Blankfein just recently and then obviously the pandemic hit so but a bright spot to Goldman or big part. Their business has always been there. Trading revenues and. That's actually been kind of a little bit of an Albatross for them over the past couple years but that actually was a bright spot in the first quarter of the same thing with J. P. Morgan Goldman's trading revenues were up twenty eight percent and JP Morgan is trading revenues. Were up thirty two percent so because of all the volatility because of all the frenetic trading activity were seen in the markets from both institutional clients and consumer clients for the big banks. It's mostly institutions were. We saw these results pop up for some of these. Larger banks like Goldman G. P. M. So that's that was one small bright spot in a quarter. That obviously is showing a lot of pain. Jp MORGAN LONG-SERVING CEO. Probably the most respected name and finances. We've talked about Jimmy Diamond. Chris who had suffered a emergency heart surgery a few months ago and came back to the job right in the middle of the as the pandemic starting to really get going. He put out his earning his his His annual letter. He talks about every year and really try to set the tone for the market ahead of what we the financial institutions and banks will see over the next year because there's obviously a lot of concern With just the just the plumbing and the financial picture of US banks. Let's move on to the airline industry because several airlines including Delta American jet blue and southwest have said that they have reached agreements with the US Treasury Department on part of that twenty five billion dollar plan for payroll grants. Obviously this is Good news for those airlines and The people who work there but it really does seem like this. I don't WanNa call it a band aid but it seems like it is a A relatively short bridge. That'll get them through the next couple of months. Hopefully but all the airlines really seemed like they have their work cut out for them Chris. I think I think bridge a bridge. If not band aid bridge I think is a good term apropos because So of the two point two trillion dollar in the stainless package that was signed into law. Last week were in late March. Now the the airlines are starting to work with the Treasury Department to figure out how they can access that and both in grants and loans and as you mentioned a pretty much all of the airlines all the major ones are going to start tapping into this and this is obviously Anita step for businesses. That are really struggling. You're seen bookings that are downed. Seventy ninety percent capacity in the company these companies have they have taken capacity out from their business both domestic and international. So it's really started. There's a heavy fixed cost and these businesses and when they have nobody flying and nobody buying tickets especially business travel which is really slow down. You're starting to see it now. Show up in the potential future of these businesses. But back to your bridge comment. I think these the airlines when I look at almost all the industries that operate and you think about the recovery patterns. I don't know if we're going to be in a v-shaped recovery or more of a U. shape slow growth recovery of both in the US and worldwide. But I do think. The airlines travel companies of all the industries. They will really be in the most flat shape recovery and I think it'll take a while for consumers to be able to come back into the travel mode get used to going back into airplanes. Get used to going back into airports. Airports Basically over the last ten twenty years have become big retail destinations. And you're seeing now foot traffic in the airports drop off a cliff and that's hurting the retail establish establishments inside these airports so that industry is just going to go along a long way to recover. They they needed this. They needed to be a tap the US government to help them support their business. Because without that you would see massive bankruptcies in the Industry Savan to the retail industry because we got the march retail report. And it was. I think every bit as bad as we were all expecting retail across the board down eight point seven percent in the month of March. That is the worst in history. Worst drop in history and context third on the list is the drop in retail that we saw in November. Two thousand eight and this was more than twice as bad in terms of percentages. And you start going through this. And the and of course the lone bright spot is grocery stores up around twenty seven percent but some of these other numbers in here you look at clothing and clothing accessory down. Fifty percent motor vehicles down twenty five percent. These are not but I kind of like we saw with the monthly jobs report for March and we knew that it was much worse because it really the only started They stopped collecting that data mid month. Same thing with retail. I mean I'm looking at one of my thoughts when I was going through. The march retail report was my God. How much worse is April GonNa? Because then we'll have a full month of this crazy was really devastating report. I guess not too surprising considering what we had seen in in late February and obviously there's our own consumer behavior but just for some context first of all that eight point seven percent number. Chris you mentioned is just a drop from February. So it's a month over month seasonally-adjusted number but historically that if you go back. They've collected this data since nineteen ninety-two if you go back. Usually that month-on-month change is in a small less than a percent change so the average is about point three five percents. So it's it's pretty tight. It's a very tight range. You're talking an average of point. Three percent with a standard deviation so changed from an average of less than a percent. So you really talking a very tight range here. You're talking last month. We saw a drop of eight point seven percent so it's significant compared to the average and not in way outside this the norm of what we see the last few decades so like you mentioned the worst number before this was in the great financial crisis when it was when when the number of fell three point eight and three point nine percent back to back. So we're talking twice as much as that drops it just context that about how significant this was just knowing wh- how we have changed as consumers. It's really pretty. It's evident and now we're seeing a show up in the number so as you mentioned some of the areas really got hit just really just a very significantly and then you see you see spots like grocery stores actually have a very significant ramp because as we continue to spend more and more at the groceries try to stock up in preparation for the quarantine that we are all facing and now still face and then you see things like food services and drinking places down twenty six percent from the month before and obviously just showing there that the real impact and that's having ripple effects because when you talk about ten to twenty percent of the global of the US employment is somehow tied to entertainment travel that area getting back to our airlines business.
Ed's Coming Out Story
"Ed so far. So now he's the editor in chief of mine about world. Gay Travel magazine well. He grew up in Boston. I interviewed him in a coffee shop in New York City. Just in case you're wondering what the background noise was. Well I think like a lot of people I probably questioned it. When I was quite young I remember at age. Five in six thinking. Oh I'm a little different from other people. I like dolls. I like things that my either boys don't seem to like so. I kind of started questioning things early early on. Did you worry about it at age or did you just sort of go with it with adult playing? I did actually worry about it. I thought about it and I think you have to think about at age. Five or six someone. Having to consider such job ponders weighty essential question. What does it duty at neurons right. I mean I think kind of in it probably helps hurts. I think it hurts gay. People in some ways it makes can make them neurotic but I think it helps gay people in the sense that you're firing synopsis that you probably normally wouldn't use for ten twenty years really so gay people having to think okay do do. Why hide this? Imagine at age five or six thinking I think I have to hide this from people. I know the only people like my parents like so you start thinking about gays in their ability to lend in act you know. Be Creative around how they present themselves. I just think I mean it's a long answer to question but yeah I did think about it quite a bit when I was younger and I kind of knew that it was quite wrong or wouldn't be accepted. So did you modify your behavior. Then did you try not play with dolls. Yeah I mean I. There was a moment I know I remember when I felt free and I was just doing whatever I wanted. And whether it was playing with dolls hanging out with girls whatever and just but then I realized that people askance at that so I had to modify behavior so yeah very early on. I joined every sport imaginable that my parents wanted me to join basketball baseball football and I happened to be good at a lot of them. Unfortunately so I was stuck in there every time I want to quit. The coach would call that kind of thing so it was kind of annoying in that sense but yeah I kind of tried to blend in as much as I could the other problem or maybe curse and blessing that I was always ahead of all my other peers in school in my grade so might have five brothers and sisters all of whom have multiple degrees written books. All this has happened so very smart group of people but even in that group I excelled beyond a lot of people. They weren't necessarily criticizing me for being effeminate or gay or but it was a little bit of like you know you gotta you got one hundred years. Smart TEACHER'S PET. Everyone likes you know so. I I think I suffered more because of the perceived intellectual superiority either already being bullied. Yeah never bullet was actually never bully knock on wood. I had muscle in my feeling like the free brought through straight brothers and two sisters and everyone there was never any bullying of any one of US really. We all went to a tiny little small Catholic school so I had the same twenty five fellow students more or less for eight years so in that environment. You people aren't allowed to bully are believed. It just doesn't happen. The nuns were very strict. So Luckily I've avoided all that okay. But this isn't boasted Ryan and matching. That's quite a fairly progressive city. Yeah yes and no I mean at the time especially I you know. I'm fifty now so that was quite a while ago and Boston has had deserved reputation for being super racist especially the Irish against every other every everyone else and there was a cover of Time magazine. Were like there was like this terrible bussing. Incident were blacks. Were being bussed into white neighborhoods and there was a huge from revolt by white people against it was pretty ugly. So Boston has a really strong history of Ugly racism and homophobia alongside there's the intellectual aspect of educational systems the progressive women who were early supporters of suffrage or the Boston. A revolution took place in part in Boston. So there's always those strains and when you think about gay marriage the first place gay marriages was permitted legally permitted was Massachusetts right. And you think Oh. That's a progressive. Not really it's actually kind of conservative. Marriage is a conservative institution so in a weird way. Massachusetts is progressive and conservative at the same time. It's hard to describe so gay people gay people who would walk around like. Oh yes my partner. And I we live in the south and we have a place in providence hand and we have a car and we have a dog and this is the perfect light so it was almost as that precipice heterosexuality but in reality a lot of times. Those perfect relationships weren't so perfect. So there's this attitude that you have to appear to others how you want to be perceived that doesn't happen in New York and San Francisco and other places so Boston is unique in that sense. So what was your personal coming out like? They must be the time when you thought I can't hide this any longer. I'm GONNA tell people. Yeah absolutely so I was saying earlier. I've had having five brothers and sisters in shoe parents and living abroad and doing all of a sudden I've had a long series of coming coming out and I think you just keep coming through your whole life. You sitting on an airplane in the past. The guy next to you is like what do you do is like on the editor in Chief of a gay travel magazine? You've just come out so I just roll my eyes. I get my business card. It's like Oh my God. Can I not escape this but but I was in college? I went to Harvard College and it was a very supportive environment even though in the eighties. It wasn't that supportive outside. I was in a bubble. I didn't really. I don't think I realized that came to my friends and a lot of people were coming out at that point in the eighties and so it was very quickly accepted and I came up to my sister. And she's like you're the second person who came up to me this week. Our best friend came up to her that that same week and so he and I ended up dating and she was so pissed off but so a lot of weird like it was completely fine but then after I left college I moved to France and it wasn't that accepted there my partner. His grandmother really hated me because she thought corrupted her son because she was old fashioned and my parents didn't councils much later. My brothers and sisters. I waited until they were a certain age and maturity level and I came up one after the next five to ten years. Much more five say didn't communicate with each other. I'm sure they did. I'm sure they all my direct coming out to them. I thought that was important to do for each one of them so I try to do that. And then you know my first job. The one of the bosses was gay so that was kind of easy for me to come out so the first one is in college when I kind of just I remember being in the shower and just thinking i. I've tried to date. Girls just is not working had a girlfriend at the time. She was at Yale and she turned out to be less. Call to the gay man generator because she three guys she dated. I'll turn gay. I was like boy honey yet. Crank on the mound very funny but it was convenient for me to have a girlfriend in a different city right. I mean obviously so I just thought it was very intellectual the way it did it was like it was like a switch was flipped flicked a switch. And that's it I'm gay and that's kind of how I I don't I deal with things you know. That's how it happened so revelatory moment in the shower that's like. What were you doing in the shower contemplating my life and I was like you know happy doing really well at Harvard. Had A lotta great friends but fundamentally unhappy well why well there was a disconnect between the person I was and then the person I was everyone else I wasn't signed. No one knew that person inside I thought and I thought well I want to bridge those differences. I want my friends who are so amazing so supportive to also know this part about me and it was maybe a little bit easier because I two friends who are just like shoe forward out ballsy gay guys just unapologetically gay and I liked that unapologetic aspect of it. I was talking to kind of had to apologize for being gay. But they kind of taught me. And this one William from Iowa from a small town Iowa like population five thousand a rural community but his parents are super progressive so he came up when he was wow to them in Iowa and they supported him when he was my friend in college. I thought if he can do it. I can do it in Boston at Harvard and Cambridge Massachusetts. For God's sake so. He was like one of my role models in the eighties to be gay and young in. Boston was a blast. The Club Scene. Superfund there were mixed men and women. Queer whatever. It was a really fun. Time to be gazed. So I gotTa Kinda got a lot of the fun and then of course AIDS kind of blew up everything but But it was a good moment for a while there so I felt supported and I felt like I could come out to a very positive reception and indeed. That was true. And then what about when you did confront So I I was living in France in Paris with my then partner for five years. The French guy and people visiting my sister Paris. My sister came back and said to my parents. Living with this guy. He's I think he's gay so they kind of out of me so I wrote a letter. It was like before emails. I wrote them a letter then when it came back to visit at Christmas. Confront me and my father was a funny super supportive away. He's Italian school because like my boss is gay. I you know he goes. I think people shouldn't be bullied. They shouldn't be discriminated against. I think it's terrible. I hear about a physical assault against gay people. I just didn't want in the family so it was a little bit of like the old fashioned Italian thing and my mother was just like you know the first word in AIDS is acquired. You can get you can get aids from anyone so she was more concerned for my health. And so I said I was overly intellectual with them and I didn't allow them really time to kind of catch up but I basically had my responses prepared for both but that was how it came out thirty years later. Whatever it is if they are the most unbelievable supportive you can possibly imagine. What was it like sitting down writing that letter? It was hard I mean. I knew that they loved Jerome. And so I knew that the thing about being anti-gay was very kind of general but the specific aspect of it. They really liked Jerome. And so when my father said when we really liked and he goes we don't want people in the house is to be set aside. I said well you don't want out every single one of my friends that they had invited to the house. I said you don't want Sabrina. Don't want Richard. You don't want Chris you don't want and I just made this whole long list. Said you don't want any of them back in the House. And they think they knew that it was ridiculous to say that they didn't want them in hospice. They really like these people but yeah the letter was hard to write. But it's actually easier to write a letter in some ways to talk to someone in person it's going to go and then you wait for the bombshell to happen. You wait for the response so it was interesting. It wasn't an email wasn't like quick. It was a couple of weeks had passed so good. Oh that's a good question. I should ask them. God bless them. They'RE IN THEIR LATE EIGHTIES. Kick in the doing great so yeah frame someone. I know I think they probably ripped it up and burn but they. They're interesting if a gay bashing occurred in. New York my dad call me making sure I was okay of course but also just to say you know express his revulsion towards that and his the horror that they felt about that you know they're really incredibly supportive.
Coronavirus corrections and the rise of remote work
"Let's talk about the markets. There's no avoiding this. If you track technology if you track startups venture capital all that good stuff you see what happens to the public markets and in the last couple of days. It's been a complete shellacking. I think it's pretty much the only way to put it. We haven't seen declines at this magnitude in some time and it's gotten everyone in the talking about what's going on and what might happen next. Danny just giving you a gut check to the listeners. And all of our friends out there. How surprised are you by this eventual and kind of finally happened moment in the US stock market completely? Not surprised I mean I I I. We're not allowed to actively trade but I did trade my 401k portfolio into a money market fund. Like two weeks ago. So I'm quite pleased with the The the choice I actually sold at literally the peak a couple of weeks ago and so so I feel vindicated like my. My retirement is secure all five hundred dollars of it. I was GONNA say this is not actually a show designed to. Let's Brag but I'll give you three points for that one. I'm doing the old fashioned like long term investing. Keep your money where it is. Let it do whatever thing. So we'll see who's right in the end for people just catching up though if you're not active in the US stock market stocks have fallen tremendously over ten percent last couple of days and that was is really been kind of following the US news cycle so as the corona virus. The kind of thing that has come out of the disease world. I'm not a doctor that's best. I can do has become more prevalent both internationally closing more borders impacting more economies heritage anymore trade routes and also popping up here at home. Concern has risen. Also we're beginning to see impacts of the lengthy shuttering of large parts of China reflect it in trade and supply chain disruptions companies like Microsoft booking holdings which ones booking dot com and utanics have highlighted issues in their revenue and earnings coming up so the the slowdown is here after weeks of talking about any kind of expecting it and finally Goldman which you've all heard of they forecasted that. Us companies will have zero growth in twenty twenty which is pretty damning because growth is kind of what powers the stock market's expansion and that's kind of the the bad news. Sas companies are also taking a hit any. Am I missing any Any bad news here. Obviously people are dying Thousands of people are being marooned hundreds of millions in China and around. The world have been quarantined so those are the headlines but I I think what's interesting is is. There's there's two patterns here one is I want to focus in on zoom or let's call Zoom Zoom Zoom. The video conferencing software. That also helps us. Equity is having the best time of its Goddamn effing life so they they have doubled the stock value in just the last couple of weeks from the low sixty S in early December to about one hundred fourteen as a recording the show so eighty eighty dollars per cent and its market. Cap is now at almost thirty. Two billion dollars and I I I'm kind of annoyed by this. But it's Kinda funny just to point out that therefore pe ratio is four hundred. Thirty five right now and to Yahoo Finance has them as overvalued but I do think I do think the virus I mean the upshot of this is that because all the flights are being canceled. You know a ton of conferences. We just heard today that F. Eight the big facebook developer's conference were hearing. People are pulling out of the game developers conference. Sf next month GTC. There's even talk about Tokyo Olympics later this summer possibly being cancelled. I think we're actually going to see a huge gift around remote work. We talk about remote work. We've seen a lot of companies in recent justed around in a company. That's doing like remote conferences. But I think the virus is really going to force companies and decision makers to really ask like. Do you need to fly to do the sales meeting? Do you need to fly to this conference to learn something? Do you need to drive to a seminar and I? I do think we're going to see a shift in the economy where people go actually remote. We're Kinda works okay. We're we have tools and and and it's changed a lot last decade. Yeah I mean won't people might not know this but tech crunch itself as relatively remote I organization and my work history has been majority remote. I worked for with the next web for my first four years as a journalist and they were based in Amsterdam and I was in Chicago and then SF. I never went to the actual office once in that time period so to me this is relatively normal but I think for a lot of folks. He's always been discussed point. Not a re- realize reality so I'll be curious to see if that does work up. Certainly zoom other future of products and other companies. That kind of service people that are not in the same room might do well. I would say given zooms rapid value appreciation that racine's active trading as opposed to fundamental value. But certainly it's a stock to keep in mind if you haven't caught up on what's going on with red at Wall Street beds and the Stock Market. Take a look. It's kind of fun if you WANNA get a window into how the chat rooms of the nineties that helped pump stocks have now turned into semi closed at four. It's quite adventure zoom. I'm not saying it's part of that pump and dump world but it reminds me of some of the value appreciation. We've seen at other stocks that have him in the last couple of months. I think you know this is a question around Tesla. We brought up in a bunch of other stocks. Might take away from that is if you're trading over the counter OTC stocks penny stocks. Okay fine there's not a lot of liquidity. You can actually do a lot on the ticket and whatnot stocks. Let's zoom as an example thirty two billion market CAP company. You have to have a lot of money to move that share price one way or the other. If you're maybe maybe everyone's long and therefore like almost no one's willing to to sell and so therefore your your price gets kind of moved higher and higher but my my assumption is that that's not true and certainly for most of these big tech companies like Microsoft near trillion dollar market cap company. Like ain't no one can you. Can you can be you know. Warren Buffett Go. I'm going to buy the whole stock and the stock price will early move. That's the scale. I think we're talking about love the shares so it might change as the Margaret hits volatility and and whatnot but to me. It was blown way out of proportion. Well I hope so. That would mean there's less manipulation the stock market in values and more reasonable. So let's hope you're right but it is a fun story regardless but let's move along away from the main public markets to talk about a company that wants to join public company world which door dash after quite a long time of hearing to this company will go public kind of a needed win for both. Softbank And the Vision Fund Jordache filed confidentially to go public. And Danny. I want you to tell us the difference between filing to go public and filing privately to go public yes for companies that are under about a billion in revenue the jobs act plenty twelve allows startups to file basically there s one without having to do it publicly so generally speaking in the process you file publicly which means you literally to the web and then the SEC gives you feedback on that dock. You might make changes some some individual if you remember like what was a community adjusted revenue or some of these may not it was community adjusted so it was adjusted. Eba which is already super chested. Right brave ever GonNa give back on that. This purchase designed to encourage companies to go public earlier at least get feedback on there. S ones and to do it in such way like if if the numbers don't turn out well or some things get blocked by the SEC. You have time to sort of recover without kind of embarrassing yourself in public. The reason we actually find out about most of these confidential s ones that the bankers know that they're going to become real public wants and so the file confidentially then leaked to the press and go. Gee someone somewhere has filed something things about this one. Why would the companies do this? Well if you let these file privately when they're smaller it lets them a decrease in the amount of risk they take on making the on ramp to public markets have been easier and the number of companies has fallen sharply in the last. I forget the timeframe like ten twenty years. So this is a way to help. Bolster that number again and also with if you recall back to Osama's private IPO file or private direct listing filing. I guess technically they are putting out press releases saying we've done this. So they're they're filing privately telling you publicly they will go public but it's private for now and that's very twenty twenty but it's also. Kinda key dynamic to understand you look at the IPO market for this year. Now announcing your stealth fundraise. Yes very much like saying we have cool things over here. You may not see them. You're exactly it's the it's the sneaker drop it's yes it's the sneaker. That's the thing when shoes come out for a short period of time. I'm not cool. I turned thirty. I lost all ability to have coolness anymore. Now We're both in our thirties. Now which I think means that will never be cool again on door dash though Danny mentioned that if you have less than a certain amount of revenue you can file privately. Keep in mind that door dashes right about the sides so we have a suspicion that this was kind of the end of the time period in which they could file privately. Because they're about to be to Lart so let's get into the numbers and talk a little bit about what we have here. The company is worth around thirteen billion. But which is a large number not the most valuable private companies have ever seen we work at its Peak Uber Pre IPO. Those were both larger but certainly a decca corn and evaluate company. The company was valued at one point. Four billion in two thousand eighteen to give you understand how fast it's appreciated in value and that is driven by tons and tons of private capital often come in through the lens started after lengthy accounts of Division Fund but the company has attracted capital firm Kleiner and sequoia throughout its history. So a lot of backers. Put a lot of money this company for different reasons at different stages. But it's welland and it has some comps so we're not talking about a company completely abstract Danny. Just run us through some quickly and then we'll talk about its results. Yeah so I think the the the big cop here is so you know Oberlin public. We now have a lot of data from ubereats which is one of its sub business lines but in Q. Four thousand nine hundred ending December.
20 Minutes with Suzan Galluzzo
"We have a special guest Susan on the show. Thank you very much for giving us your time to talk to us today. If you could start off by telling us about yourself and how you got into the health and fitness game. That would be amazing. Thank you okay. So I'm super happy to be here. I love love love talking to anyone who will listen about health fitness nutrition. So thank you for having me okay. So I've always always Kinda into fitness. You know growing up. I realized much later in life. That fitness had saved me a few different times in my life without actually realizing Tila. My older years. Like in my teens. It saved me from being this insecure. Not so confident teenager in my twenties same thing it helped me found my passion and then later on when I got married and had my first child and fell into some postpartum depression. It saved me once again so it was around then after my first child. I decided that I was going to compete in a fitness show. And just for fun just to get myself. I was bored lonely depressed and I thought you know for. Give me something to focus on. I love being busy. I love fitness. I thought I'll just casually compete in the fitness show and from then. I realized that I learned this incredible information that I felt all women men needed to be privy to not just the bodybuilding world and. I thought why is this only four bodybuilders. Like there's such a holistic way about doing a transformation that should be shared with everyone. So that's what inspired me to get into fitness. And usually what is under? Your nose is what you were meant to be doing and you know so many times. They told me and I'm like no. I'm an accountant and I was in counted for seven years. And you can't make that much money and you know be purposeful teaching fitness. But you know when you're so passionate about something. The Universe is very good to you so from there. I opened by first studio. I was nine months pregnant with a one and a half year old and I opened by her studio ten Yod. It was eight and a half years ago. Most very busy period view obviously dealing with us in the business. Mostly shooter is goes well which is always outgoing. Like still passionate about my own olds his great to hear one thing. I did read that. You'd mentioned before is that. Obviously you're someone who has our family job clients to deal with and quite often people put others needs before themselves. So you talk about. It is important to prioritize ourselves. Sometimes so wolf advice. Would you give to people thought about doing this? What most people end up doing? Is they wait till they hit rock bottom to realize that. Oh my God I've been putting myself on the back burner. And that's when a lot of men and women come to me is when they get a diabetes scare or. They're in so out of shape that their doctor said you have to lose the weight. You have to do something about your health. But it's you know rat. Don't be reactive about your health. Just because things seem okay. We have to realize that you know it's twenty twenty exercises for all and it's mandatory mandatory it not a choice anymore. You have to be taking care of yourself to in order to live a fulfilling and a fulfilling lifestyle until our old age like why are we in wheelchairs at sixty seven years old. No we need to extend our life an extra ten twenty years. You know few of children. It should be a priority regardless with or without children is a priority so realizing changing your mindset when it comes to thin this and realizing that it's not a one trick pony. It's not just a only to lose weight to go on the beach. It's the lifestyle and it's it's for everyone and everybody needs needs to be a mandatory part of lifestyle. I'm trying to get it to be more attention to it. In our school years. You know teaching children the importance of how a fitness routine and getting into the lifestyle early in your life so that it will help you when the going gets tough when that stressful times when you know men and women are having families. It's like we need fitness health to be a part of our lifestyle exactly on. I think it would be very beneficial as well to give children a young age abroad exposure. To all the different types of things you can do obviously. There's numerous different sports a sport for everyone. There's obviously athletics fitness classes. And the so much and there will definitely be something that someone gets excited about and forget. It's actually doing fitness. And they'll see his something they love doing. Yeah I truly believe that especially with kids. It's like we need them to realize that you're just because you you're not that sports kid and you didn't make it on the team. It doesn't mean fitness is not for you exactly exactly. I think that would be very very beneficial indeed successor. How would you that however you raised your children to understand that health and fitness is such a key or as you said mandatory part of our life that will help us later in life while you know seeing is doing right. Monkey see monkey do. If you're not doing it and practicing the lifestyle like how can you tell your children that this is something? That is mandatory. It's going to help them. So because we are both me and my husband are very active. They see that they see that their entire life since they were bored. So that's their normal right a lot of times. They see parents that they don't take care of their own health and fitness and nutrition but they want their children to eat broccoli and go to soccer. It's like no it's gotta be a whole family approach so of course the kids and then also the importance of prioritizing right. Yes school matters and your studies. But it's like we try to take a well rounded approach with our kids that fitness and education. And you know mental health is a big one for us to the all these things matter and all these things need attention to not one gets more attention than the other. Everything needs attention because the end of the day were such complicated human beings that we we need to give attention to all these different elements that make us who we are and yeah it gives them an opportunity to explore like. Maybe they're not the sports kid on the team but maybe they excel in. You know something else. That's fitness related Doesn't it's the agree completely that you can't ready press others to pursue a certain lifestyle if you're not living it yourself save costs definitely true and I'm sure you found you. Continue to find because health and fitness is such a massive part of your life. This will actually help you. Continuously play with your children and getting bowled their lives as you feel you feel too out of shape to fit to to really grew up on play with them and see that a lot in my business. I see a lot of parents. You know that are struggling with their hell and are overweight or tired or exhausted. And they can't even play with their kids or herb. Take them on skis they. They're missing out on things that they could be doing with their their kids. Like you know. We live in Canada so ski trips and tobogganing and just being active in even going to an amusement park and being able to walk that long like I see I see it a lot in my business that when the parents failed to take care of themselves they actually the kids miss out. So what advice would you give to someone? Then pinches listening to this or because it's obviously going into the new year has just started the new year unless they wanted to start to finish any. What can they do to really initiate this process? I mean the one. The big thing is deciding. Decide and commit deciding that your your goals have to be big enough to excite you so you need a reason right. Think of what is your biggest reason for a lot of people. Should their biggest reasons should be that they want to live a long healthy life and for themselves they don't WanNa be pushed in a wheelchair to prematurely. So can give yourself really sit and think about a vision and a reason. That's my first step. I do with all my members. Then the second step is okay. What is going to close the gap from where I am now to where I wanna be and brainstorm. What do you think it's going to take? And then look at that list and pick twenty percent because twenty percent of our actions are responsible for eighty percent of our results till view. And when you know when push comes to shove and your schedules Outta whack just simply performing that twenty percent. So if it's like the twenty percent would to me would be you know signing up for program and showing up three to four times a week just simple sub getting my ten thousand steps a day. That's something that I start. Most people off with start with just being more active in your day to day. So that's and that's simple steps like just parking further going for a little walk at night you know so but it has to be well thought out and planned. New Year's resolutions are wishlist. And they don't happen unless we take massive action plans exactly exactly so on the reverse from then someone who has always had potentially help him to be a big positive life but they've recently gone off. The rails had a few weeks of with come back from an injury on period. How can people bounce buck mindset? I and I see that all its. That's an amazing question. I see that happen all the time. It's like oh I'm not that person not the person that's never started but I fall in or I had a setback and I see it happen all the time and then yeah and then and then you know what they're barest to come. Backer discouraged all used to be able do this now. I can't but it's like just do you have to go back. You will be a much better position if you go back slowly that NOCCO back at all and so it's changing that mindset that and we're not we're getting older right so I tell my members like listen. You're going to do the same things that you did even with me five years ago and that's okay. We adjusted but it's still we make it a lifestyle so like just get back into it after an injury. There's always you know I've seen him in. They'll have a knee injury. But that's that shouldn't stop you from. I always say. Can you get up in a car and start it yes? I can't well then you could do. Upper Body you can do. There's always something you can do But it's changing the mindset and being okay with being a little bit different exactly as you said that it was so that you can do my grandmother whose Clinton is that. She just started because I told her about how. Low impact resistance trading can actually help. She's having some issues and she's just doing some very light exercises on its cons of goodwill that's amazing and she's eighty exactly exactly something always to do. Even you know you're in a wheelchair like there are people out there with really significant limitation. That are doing it so you know an injury or any. I truly believe unless you're bedridden. You can work around most injuries or setbacks or binge period like just get back on. That's the best thing you can do is forget about what happened in. Just get back to it because lease so. She's making fun of them. How do we keep these behaviors took house? We made them more sustainable. So they're not just going to be temporary periods. They actually all be a complete. A sustainable lifestyle change so rituals and habits so we operate forty five percent of what we do is on the daily habits that we have embedded break getting up going to work so you have to create a new list of habits and routines and rituals. That you're gonNA stick to perform and and you you know some for some people. They need an accountability coach. And that's like so for example in my online program. I provide a lot of accountability in that. They have to submit photos every Monday. Soak that creates a habit and they have to other things after they have to do a meal. Prep twice a week and show me photos once they. They've developed that habit long enough which takes twenty one days. It then goes into a ninety day lifestyle so you have to be prepared to commit to. That's a hundred ten days of rituals and then it becomes lifestyle. But you need to commit to making those habits into
Report: Astros' sign-stealing scheme began with front office 'Codebreaker' program
"Jeff Passan is an mlb the insider for ESPN. He's in West Palm Beach at the Astros Spring Training Facility. I keep thinking we're done talking about the Astros and then this story he keeps roaring right on back so the latest is we have. Aj hinch the former manager making his first public statement than jared diamond of the Wall Street Journal Final published a story with evidence that the Houston Front office laid the groundwork for some cheating with a system called code breaker. Can you bring us up to date date on us. Major League Baseball would love it. If this story went away in the Houston Astros would love it if this story went away and yet this onion with seemingly endless layers we'll start with the codebreakers story and the fact that we're talking about a baseball team and they have a system in place called code breaker in that one of their front office officials was referring ferring to it in emails as their dark arts. That helped win them a championship. Shows you just how deep the nefarious -ness of the the astros went the way it worked was they would have people in put signs and signed sequences this is into an excel spreadsheet and that excel spreadsheet would use an algorithm to spit out what the pitches were going to be. There's a lot to unpack here but I'll start here. I keep hearing that. These are the smartest guys in baseball. The Astros in particular right are geniuses it is and yet they called their scheme code breaker and put it in an email. I I don't even we know what to say other than you know in one of the early episodes of ESPN daily. We talked about the Astros. And and in that episode I remember pretty distinctly using a word Hubris when we look back on this astros team. Five of ten twenty years from now I think Hubris is ultimately going to be the defining characteristic of this team. The other thing that sort of moves the story forward so far as when the initial punishment came down Jeff often rob Manfred statement came out he seemed to put most of the blame. If not all of it really on the players now. We're here in the front office. They were up to their own. Misdeeds is that going to expand the punishment now and that's the curious part of this right the notion that at the front office which is still there is totally clean in this. It just doesn't hold a lot of water. Which is why the report that it came out in the Wall Street Journal was so damning because it name names it referred to a five page letter that Rob Manfred had sent to Jeff Luna that laid out his his case for Luna being involved in this now Luna still denies all of this? He said I would get these emails but I would just read the first page if you are essentially the CEO of baseball operations in an organization. Is it not your duty to read through emails. That people on your we're team or sending you particularly ones that might include references to these dark arts to these championship winning endeavors that you as the CEO either green lit or too incompetent to know we're going on. I would like to not be on the record for judging someone for not reading a very very long email right now you. You don't finish emails. I always read every long. Email my colleagues because you are the CEO Oh of ESPN daily and you know it would be wrong to do otherwise when you guys are figuring out the dark arts of casting hopefully code breaking going on over here at the same time as this Wall Street Journal story comes out. Aj hinch is being interviewed. And he was directly. Asked Jeff about whether whether players had buzzers under their jerseys to alert them to whether pitches becoming. Can you assure us there were no buzzers or anything like that. Being investigated the gated for three months. And the Commissioner's Office did as thorough investigation as anyone could imagine was possible you know. He mentioned the emails the text messages and I believe him. What did you make of his comments? All you have to do is just saying no. And the fact that he didn't come out and say no I think said a lot and is only fueling the fire here. I have been hearing for for upward of two years now about what one source called a pitch picking Algorithm. And that's exactly what code. Code Breaker was in so these little snippets. That I've been hearing whispers about but I try to track down and confirm every single single one of them. I mean every single one of them has become true. The only one at this point that has not been confirmed is being real is the buzzers.
Amir Taaki - (Bitcoin) Revolutionary
"Hey everybody. Welcome to show eighty-six on Kripa voices from Latvia joined by a very special guest from Catalonia. Amir Taki many words can be used to describe a mere a programmer. Entrepreneur Hacker philosopher revolutionary. He was one of the first developers On the BITCOIN network he founded the second implementation software that worked on. bitcoin called La- bitcoin. He created the bibs system in Bitcoin for wider dissemination understanding of bitcoins upgrades. He's fought Isis in Syria and he continues his work on Activism Freedom As mentioned based in Catalonia today a Amir really pleasure to have you thanks a lot for joining and welcome. Thanks for having me so much to talk to you about here as we start the year in twenty twenty but it it would be good maybe just take a couple minutes at the beginning to to step back really curious. I know that obviously you were Doing many things before bitcoin. Many things no perhaps quote unquote after Bitcoin but those early days in Bitcoin. You know you're on a first people looking at the code. It would be really interesting to maybe here just the story to when you first heard about it started working on it and what was kind of the ethos like back then when I started working on Bitcoin yes I was like a a bunch of these undergrounds internet movements to do with technology. You have the Free Software Movement cryptanalysts on a kiss movement. This libertarian fringe. They're they're like really small small groups of people we've really kind of radical visions the kind of very persistent. Bitcoin was kind of confluence of the and I've been linked with these communities as well for a for a long time and when I when I found bitcoin in ause looking for something that was very functional. Wanted see not be able to build. Actually I wanted to be able to build a distributed gaming websites simply because gaming is owned by John Cartels but when I when I found bitcoin it was it had like this already old looking web. Page the might have looked like it was from nineteen ninety-seven the pretty bad designs and It was on source forge dot and saw dot net you. Can you can find all sorts of crazy projects on their back in the day. I remember I once founded video game which was like addressing park video gaming except the hot the computers and you could like punch ensure any war it would have every good dinosaur. Did you could like drive vehicles while that sounds incredible but but that knows no source Scott. Because there's a lot of these projects on sauce for somebody has like a cool sounding idea and they they click may create the project but they never actually write any code or they write some code but they lose interest after two days so bitcoin was like very much in that vein when you look to the websites at Bitcoin is a form of peer to peer currency that can't be controlled by governments Munson central banks. So we're like kind of red dog on a road. My is like hey yeah I'll desperation nation. I guess I kind of see because I was looking for something to build my projects waves so I came back to the big Wayne in website and then I go free that code a then asserted nice and strange things and Being a programmer having worked plus plus time Quite easy for me to start reading the code but then I I saw some things and I was like Oh wait. This is kind of interesting when it clipped that was like a mind blowing moment the this thing actually was cracked and I actually was working big itself. The code was it's very much a prototype. It was I I feel like Sushi. He kind of was it was something that he is working on over for many years and even though he wasn't like a lot of people say that here's a great program. He was actually a a great program but he was. You know a guy that was technical might even have been like a physicist or some kind of academic be was kind of Ed like hacking on the code adding Biz commencing bits. I'll until we have this concept of bitcoin walk and night. She if you look look in the code as well there was actually commented section for poker software which is was trying to create this entire community of of inside of Bitcoin was very you know it was it was very principled and every time you went on the forum at the top of the forum would be opposed about the Fed and how the Fed is evil and central buying Sir tantamount to murder so you know there was some fear. Refreshing about about this community was the poor in all of these fringe. Ideas was something new. It was something unique. I think war is kind of at the root of this crypto culture which is why it makes attractive to people that people have been able to to kind of latch onto this subculture but it was. It was a community driven by narrative a Everybody was constantly talking about like the central banks how to take down government control over the money that was that was what kind of gave it drive and we actually find ourselves in the point now where that narrative has not being able to develop people haven't worked on developing that narrative has been work on in like expanding worldview To account for all of the changes happen or the or the Neutra the trends are happening in the last two years the enable the project to continue to have momentum to continue to develop say. That's very much now. Craft like a new narrative around cryptocurrency in the era that we're living in a with very much very different from ten ten years ago even ten twenty years ago where economic questions were a lot more at the forefront of people's minds today economy is still important question. It's it's one that's compounded by many complex issues and in some ways we kind of see this merging of the radical left and radical article. Right you kind of see now. In Europe where for example the five star movement in Italy is a combination of far left and far right parties. That's because there is some discontent within the society. The is is kind of being on answered by by these groups. And that's when we talk about people often ask about about you know like crypt tycoon. Seal all BITCOIN or blockchain but they're not in themselves like entity so we should look we should think about we. Should we should maybe be talking about technology as a whole. Oh we should be talking mcrib Tucker fee as a as a tour tactic. Roll the technologists. COMPLA- in in in in shaping the world or all. Well how the power is
What weighs down GDP?
"Not for the first time I am on this program. We take our lead from our early rising colleagues on the marketplace morning report. The News News there. The News context here and this morning early with the markets bouncing back. After the agenda of yesterday it went like this well the problem is the market's been doing an awful lot better than the fundamentals. That's David David Kelly a morning report regular also the chief global strategist at J.P. Morgan funds talking to David Brancaccio. This morning say more. Though would you Mitch Kelly about those fundamentals. It's going to get a GDP number tomorrow over two percent. And why is that. Just two percent you know between the federal government of the Federal Reserve. Got All the stimulus being poured into the economy. And it's not actually helping economy grow that's tossed so we got tears in Clare on the phone. She's a professor of economics at George Washington University to break things down a little before us one of the big things that we were watching was the role of the tax cuts and jobs act. Also the Fed of course keeping interest rates low. So that means that we're looking at savers. Trying to find a place to put their money to earn some income and that pushes more more money towards the stock market which gets us to it does look like a stock market and the real economy are potentially out of line. Aw but there is more to the fundamentals than just GDP at the same time if we look at other figures such as what's been going on in the labor market there is that fifty year low unemployment. Of course things are still remarkably good particularly when we think about how long this expansion has lasted. Don't zone on eleven years now which helps explain why people are getting jittery. When unforeseen stuff happens that corona virus really being the the driver of of that tumble and that people are worried that that might affect the Chinese economy that was yesterday? The Corona virus in the markets today traders apparently decided the corona virus. Isn't that big a deal but look fundamentally this whole thing is all about confidence right. How much consumers? which as we've been telling you for years now are the single biggest driver of this economy? How much they think things are going to be okay so to that end a little compare and contrast now we learned today from the Commerce Department that orders for durable goods big expensive things postal last couple of years? We learned those orders were up in December so far so good but there is a certain line-item in that report that we pay attention to capital capital goods equipment that businesses by to produce more stuff orders for those dropped which is not a good look for business investment consumer confidence though how we all feel about the economy. We learned that today improved more than expected so the essay question goes like this. Why do you businesses seem to be skeptical about the economy while consumers think things are maybe not so bad? Marketplace's Kimberly Adams got the assignment. Consumers are feeling better about the economy because after a long recovery since the recession Josh Gibbons at the Economic Policy Institute says most people they have really beaten beaten down expectations in. So if you look over the past year unemployment's pretty low. Wages are doing not great but okay. Maybe they're like this is as good as it's been for a while but business investment has been slowing for months now and economists like to pay close attention to those numbers because weak business investment. Eventually the ripples through the rest of the economy in so if you're trying to predict whether or not say a recession is coming. Durable goods will sometimes sort of go down more quickly than other parts and be a better forecasting instrument because business investments in durable goods are a reflection of companies own forecasts. Alison Schrager is a senior. A fellow at the Manhattan institute she says businesses are looking at the economy. Five ten twenty years from now as opposed to consumers are really experiencing Very strong economy and their outlook is appreciably shorter also when businesses invest are also often now more more thinking about global markets not just domestic markets markets and with the trade war far from over and risks from climate change. The outlook for the global economy is a bit uncertain just now in in Washington. I'm Kimberly Adams for Marketplace
Ken Burns: 'America's Storyteller' on His Creative Process
"Ken Burns has been called America's storyteller a title earned over more than four decades and thirty three films including his most recent one on country music. We traveled his barn. That is his office in Rural New Hampshire talk about how he creates art from history. My first film was on the building of the Brooklyn Bridge and when I started fundraising forward in seventy seven. I looked about about twelve years old and people delighted in turning down saying that. This child is trying to sell me the Brooklyn Bridge and when I finally amassed a a can't say a critical mass But some money to film I started filming and I finished most of the principal photography in the summer of nineteen seventy nine and realized allies with all this footage and no money that I needed to get a real job and I had a really nice offer for a job but I felt in my bones in my guts that if I put the footage up on top of the refrigerator on a shelf I'd just wake up. Twenty twenty five years later and having not finished it so I wanted to move to someplace where I could live for nothing and figure out how you made a film about a bridge. How you how you told stories in history how you animated old photographs how you use sound effects and music and I moved here to the house? I'm living in now. I rented it for a couple of years. My oldest daughter was born there and so I had to buy hi it. The best professional decision I ever made was deciding to stay here. Once that film was nominated for an Oscar. Everyone said Oh you come back to New York and I said no I think. Can we stay here. The work I do is so labor intensive it's like academic or medical scientific research takes years and years and years to do it right and and it was more important to put the very difficult still to this day grant money and I'm very grateful for for pews involvement for for decades in the work that we've done put that all on the screen to have zero overhead in essence So that we can tell the funders that look. It's it's on the screen if we're take ten and a half years to do Vietnam or eight and a half years to do country music or the war. The history of the Second World War that we did that that the the felt that their money was going not some costly rent in midtown Manhattan But in a rural area where it's very clearly all all up on the screen. The work clearly energizes you. Are there things outside of work that allow you to have the energy and vitality and creativity the practices that you do yourself that allows you to sort of grows beyond as a filmmaker that also influences you as a filmmaker. Being a father is the most important activity. Yeah I have four daughters. I'm blessed I'm rich and daughters who ranged from the late thirties to a nine year old. They're the greatest teachers. I live in the spectacular. Her place that nature continually Reminds me of my insignificance and so the humility that comes from understanding the ending. How much nature us is actually makes you bigger just as if you if you think that you can say to somebody you know? Don't you know who I am. Doesn't commend you to the smallest and weakest little place and first of all in Walpole New Hampshire any notoriety variety award celebrity plus fifty cents. Gets you a cup of coffee. I do the New York Times Crossword puzzle in INC in physically. I buy the paper everyday we day and I read novels or magazines and watch television mostly for news and sports rabid baseball fan and then mostly I walk and I do that at least once a day. If not twice a day by the end of the day I have about ten miles. What happens in walking is very interesting hosting its meditative? Sometimes it's it's it's social. I can talk to daughters. I can talk to colleagues but mostly it's so lower with my dog and we've just sort of watch things leaves falling from trees SUNSETS and sunrises. That's what Emily Dickinson called the far theatricals of day which I still think is one of the greatest phrases of all times and I am very much addicted to the far theatricals a day. One of the things we want to do is talk just about your creative process. That's how you go about doing what you do. We start with the most basic question. Which is how you pick your topics? You've talked a lot about how you've got a whole range going out for the next next ten twenty years which is amazing. But how do you decide you know the glib answer is that they choose me. I I'm just looking for good stories in American history and that's what I want to say I is that I'm a storyteller. I'm not looking to make a political comment on the present though I know is Mark Twain is supposed to said that history doesn't doesn't repeat itself but it rhymes that is to say I've never finished a project where I haven't lifted my head up at the end of this long usually multiyear process and not seen the way in which the themes the important themes are not only evergreen but are resonating in the present. We do get completely distracted by the idea. That history repeats itself it does not it never has please show me where it has you know. Are we condemned to repeat what we don't remember no. It doesn't seem team that that's the case is knowing history thing. Of course it is so I think we just come to it from the sense that we have an amazing story to tell in our country. I feel that too often. It's it's been sanitized and that the real version which is incredibly diverse. An incredibly complicated is the one we ought to be focusing on and that in no way does does it diminish the positive aspects to give Some of the negative stuff the novelist Richard Power said the best arguments in the world won't change. I'm just single persons mind. The only thing that can do that as a good story so I'm not in the business of changing people's minds but I am in the business of trying to figure out what a good story stories
"ten twenty years" Discussed on Reason Podcast
"Was the critical for of the of the of the early interact. With finally, we don't need all of these middlemen and things can decentralise disperse and the whole point of a network was that you had this wide range of individuals who could connect directly to each right? Which is no longer the case what we have now is everyone's connected. But what the, the data is surveilled and is aggregated and is monetize by a very small number of gatekeepers, who make an extraordinary amount of money. Now, that is good for the private sector in the US, if you happen to sit on top of those permits, like Mulan Facebook and Amazon do, but it's also good for the Chinese. And you know what we see today is that technology may be the most insidious driver of tribalism in liberal democracies in the world. It also facilitates, and a thorn -tarian model in China. And I, I don't know if how long that continues, right? But I do think it would be foolish. Us not to believe that the Chinese government, authoritarian governments. Stay capitalist government has more winded sales, and has a long release on life and growth because of what technology today dozen what they can do with it. So at the very least if we're talking about ten twenty years, I would bet fairly heavily that China doesn't collapse, and not just because they've had forty years of success. And so the people are pretty patriotic, and they don't have a lot of internal divisions. But also because this technology control really matters for them, but they have the ability to help channel people into the types of decisions unifying decisions that they think are good for political stability. Can you compare that you write a lot about India and compare that a little with India, which is, I guess, if it hasn't will overtake China's most populous country, it's certainly the most populous democracy that has very much of an us versus. Them split in. It is India, then is it in kind of the way you're describing things. India's really hampered by being a democracy. India is hampered by being so decentralized, certainly, although it's, it's bizarre. Right. Because on the one hand within recent memory in India every economic decision had to be run up all the way to the top of the government doesn't implement. Yeah. Yeah. And massive corruption at the local level. In one thing, Modi is tried very hard to do is break through that he's had some success, and growth has been picking up in part as a consequence, but Modi's ability to drive growth. I mean India today with one point four billion people just like China, actually invest one tenth the amount and infrastructure that China does. And they're just in other words, they're not, not only they not catching up. They're losing massive ground to the Chinese every day, that gap is growing. It's growing dramatically. It's growing in defense. It's growing technology. It's growing. Infrastructure. It's growing in wealth. It's growing global footprint. And so, I mean, I think the big story about India today is how it is that they continue to massively under perform China, despite all their talent. And despite the democracy in a certain way, the, the way that you're talking about Trump, he seems to be, you know, he, he was conjured. He's, he's, he's not the person who made this world but he was kind of conjured up by it. But it sounds like you think he's basically, regardless of personal style and all of that. He's basically making the right choices in this. Well, you were saying, you know, this is a good time to squeeze China. Maybe I didn't say we time where Lee Harris PP at, for example. Well, if you go to squeeze China, I would much rather be squeezing China with American allies. I would much rather not be launching a trade war with the Mexicans at the same time that I'm squeezing the Chinese, I would rather have the Europeans on our side. Side on five G right on technology. It's critical. So I mean, I think that Trump's transactional ISM and unilateralism, which comes in part from his narcissism means that he really doesn't do long term strategy, and that in a system that already doesn't do term strategy very well. That's a serious problem, and it's particularly serious problem because he doesn't develop good relations with other leaders around the world who also have very healthy ego up Kim Jong UN. Right. I'm it doesn't send that in the jungle in relation, they might gray a friendly but it has a he really hasn't gotten in his pants yet. I think that is a safe if rather a visual metaphor. What is the what is the appeal from kind of political science point of view, or from a kind of psychic psychographic point of view? What's the appeal of tariffs because every economists will tell you most people understand that if you, you know, China. China is paying the tariffs Mexico, if they get implemented Mexico's not paying the tariffs, American consumers and American businesses are paying the tariffs. What's what's the appeal of laying tariffs on and Trump talking, you know, kind of like a nineteenth century politician of while ago declared that I'm a tariff, man. Well to be clear tariffs are usually paid by both sides. So when you Levy a ten or twenty five percent tariff, on the Chinese the Chinese companies can pass that all onto the consumers, and if they do it, those consumers are more likely to find other places to buy. So usually you meet in the middle and usually some of the cost is borne, by the Chinese and some of the cost is borne by the Americans. Now, the Americans do not need China as much as China needs the United States, we have a bigger Konami, and we are not as dependent on our international imports. Does this explain why? And I think it's probably oversold because it involves Alon Musk's. So we know there's a huge about of Barnum Barnum his. Going on. But, but, you know, the idea that tesla was going to be opening a factory in China, which where would maintain its I p in an intellectual property. And that typically does not. I mean, are there signs that China's willing to meet, if not in the middle at least negotiates, there are signs that the Chinese really don't want a trade war with the US because it's going to hurt their economy a lot. They're also signs that they are willing to give the American some things in return for that, there are signs that the Chinese recognize not only that IP theft has gotten to the point that they are starting to raise real ire among western quote, unquote partners, but also that the Chinese world leaders in some technology, so they're going to need some level of IP protection for their own private sector, participants. But if you ask me, does all of that amount to a deal that will create what we would consider to be a level playing field on market access. No get. Go back to qualify if Amazon and Google and Facebook cannot have market access to the Chinese. Why should we provide market access to? Wow. With that says. I think it's an interesting question Neil. Right. And historically, the answer would be well, because we're a lot bigger and because will make money from being able to compete against weaker Connie's weaker technology. But if while way is, you know, grabbing that data a national security menace, and they're rolling out five G faster and cheaper than the west is in part because of this state subsidies. Then, you know, the only reason you wouldn't destroy them is because you fear that the Chinese are gonna hit you back so hard that you can't handle it. But I mean, I have to tell you that if, if you want to be honest about it, this is a fundamental structural problem for the Americans and our allies, that's going to get worse. And one of the only reasons I don't think we should destroy them frankly is because I don't think. Trump can execute on it. I don't think he'll get our allies on board suitably. I think he'll fam- but I think that the idea that this is a big problem. We need to hit them as a consequence and is probably right. Knew what, what would be your preferred answer that would be different than Trump's than in terms of mobility of, of people around the world or access to the United States, not necessarily as a market. But as a place to live and work. Well, one thing that Trump has fundamentally right. Is we should be changing immigration of focusing more on skill set, and the labor that we need and less on everybody, you know, sort of comes in blind to that. Because the fact is we just don't need that level of a low and mid capability labor the way we use, and do you see it as necessarily it's disrupted when you say, we don't need. I'm not, you know, a giants don't need the Americans don't need Japanese do. Well, I guess, with, yes, certainly what, but even within the United States we're seeing declining birth rates. Or fertility rites, and there's do individuals have a right to show up someplace not necessarily to get welfare or to be welcomed with parades. But why does it hurt to have more open borders, rather than, you know, less open at? It is certainly believe in the statue of liberty of my grandmother from Aleppo Syria and Armenian came to Ellis Island, and our names on one of the benches, and so I wouldn't be here for it wasn't for that system. But I also understand given the backlash that we've seen over the past decades and given how broken social contract presently is that we are going to need to shift simply because of political reality. I mean you under Reagan, we close the borders for while with Mexico and food prices went up because we didn't have Mexicans that were willing to pick the produce we increasingly don't need that level of labor to pick the produce in the US. So you're not gonna have the same level. No of economic necessity that drives it. And that is a compelling argument from aggression when you take it away. I mean when all the Syrians come into Germany, and they don't have the skill set to actually integrate and work in the labor force. It creates a lot more backlash against Merckel now, though. So a very different question. Right. I mean, because there I mean, people are leaving Syria because of a civil war at which, you know, the United States along with you could say Europe is is implicated in yet, greater or lesser degrees. People coming from Central America people coming from Asia into the United States or not. They're not refugees. They're not asylum, his and Tillman Honduras. Yeah. We'll make star wanna Malla. I think. That legitimately who are also. You know, I've been fleeing in another way from, you know, I, I would argue there fleeing from the, you know, the remnants or was put in place of US intervention twenty and those people are absolutely the big numbers were seeing in the in the US right now. It's not Mexicans, right. Some ex so it's very similar point. I and they incorporate fairly well into the economy over time they do over time. But I am a what I am saying is I am empathetic wrote to the political reality.
"ten twenty years" Discussed on Capital Ideas Investing Podcast
"Creeping and is probably the thing I worry about the most you've talked about how you think. About momentum investing and the role that program trading his thing, there talk about that a little bit. Sure. I think this period is someone at kin to the late nineties where the index phenomena really was was gaining steam. And if you think about an SNP five hundred index is the ultimate momentum investment vehicle in the sense that each incremental dollars, essentially going to what's worked, so more you become a percent of the S and P, five hundred the bore, you know, that dollar gets allocated to, you know, your company investment wise. So it has a, a MO and to mass back to it. That's pretty significant, this period fills, very akin to that. And obviously we have these things called ETF's. Now there is a lot more money in passive investing than there, even was in, in that period that I referred to. So it feels to me like the momentum. Investing essentially buying what has worked price wise is a significant part of the market that we're in. I would state at a different way, which is on a given day's trading. The active business has less of a share than it. Did ten twenty years ago and more of it is driven off, you know, pure momentum or price changes over the last six or twelve months. And I think that gets to the, the complacency part in that's something I worry about also say that may be capital is not being allocated in the most efficiently possible. Well, I think that would be a reasonable conclusion, I still strongly feel that active managers over a period of time, we'll do better than an index and ironically, I guess you can make the argument, if the active part of the market is going down, then you're potentially creating even more opportunity for active management, not less. Presumably. Only if you know what you're doing in terms of investing in quality companies for the long term. And I, I think we're really setting up for a period, where active management can do quite well as a result of the backdrop, that, that we're talking about great just coming back to what you said about our stopped makes it to your portfolio. You mentioned the CEO. I would imagine the other factor that you mentioned where it is in the business. The valuation in just the regular criteria that any investor uses, I think the value that I had to your point is number one, the assessment of the CEO, and the number two is the assessment of, of the business in terms of truly understanding why it's a superior entity that will add value over time. And the valuation is obviously an important part of that. But I think the first two criteria are the most important is long as you didn't pay a silly price for that type of entity and you're willing to own it. Over time you will do very well, if you're right about the underlying economic. So the business, plus with a CEO like Warren Buffett or John Malone. You have that option -ality. I mean, I think John Malone is proven that numerous times where he will do things over time that folks haven't thought of that will add shareholder value. So I think when you throw those ingredients together you end up with a pretty good outcome. Greg johnson. Thank you, thanks. They'll be going to capitalize. Thank you. We love hearing from our listeners. So tell us our doing, please review capital ideas on, I tunes, or if you prefer to send us your feedback including any topics, she liked to see address.
"ten twenty years" Discussed on Newsradio 970 WFLA
"Thanks to cultural and economic changes that has occurred over the lifetime of baby boomers, and especially in the last decade both of those dangers have become more prevalent than ever. That's why he says I recently invited Robert kiyosaki happens to be one of my favorite authors. Who wrote the book rich, dad, poor dad, right? And the his latest book is titled fake money fake teachers fake asset. How lies are making the poor and middle class poor. He said when I asked Kia sake for his advice on how investors could avoid being led astray by all the fakeness in the financial news. He said be very careful of who you get your financial education from you better. Find out who's real who's fake choose your teachers wisely folks, I've always said that, you know, be careful of who's audience. You really are the reality is there's this persona that this time it's going to be different. It's not new to many be listening that if you take the prior year's mutual funds winners, none of them have shown to be the same winners in any consecutive year. So, unfortunately, it's this persona that we can do the same thing over an expected different result. Which obviously knows the definition of insanity. When obviously you're about to hear the real reality of what real reality returns or real average returns have been. So let's talk fake news fake retirement figures with real life retirement returns reality so one of the publications. We subscribe to is through the Dow bar, and it's called the quantitative analysis of investor behavior. It's a twenty year period that ends each prior-year that's announced typically after the first quarter of the new year in the study concluded the results consistently show that the average investor earns less in many cases, much less than mutual fund reports would suggest what kind of returns would you have to get in the stock market to make it worth the risk, right and the economic uncertainty. You know, would you settle for two to five percent returns? Would you at least want to seven percent return? Many people aspire for the infamous ten percent or better return. But here's the harsh reality of real returns. Okay. According to this most recent twenty year mutual funds have only averaged three point eight eight percent returns. Okay. Now think about that as a twenty year return, and that's many of us listening. You're gonna be in retirement for twenty thirty forty years, depending on how long you live. I just met with a couple both have parents in their late nineties both. Mothers living, and they're very concerned. They're saying Chuck, you know, we have longevity in our family. And the harsh reality is our counts of really gone nowhere. In fact, we analyzed under what we call it portfolio stress test and comparison improvement analysis the lineup side by side the retirement road, they're on with the returns in the risk relationship over the last ten twenty years in comparison to what their risk tolerance by answering questions would dictate. Well, they averaged in one of their former 4._0._1._K's seventy seven basis points less than basically three quarters of one percent. Now, I want you to think about that as before fees and and tax expense in comparison to where by actually taking less risk in in many cases, teaching them also strategies to eliminate entire risk. They could've average better than eight percent in design correctly, which I'll teach you tax free. But see it actually gets worse. And here's why. See as far as the rate of return. Doesn't normally factor in for inflation. So if you look back the last twenty years right that would have been two point one seven percent inflation deducted from the three point eight percent average twenty year annual return for a real reality return of one point seven one percent. The study reflected once again, the study concluded the results consistently show that the average investor earns less cases, much less. The mutual funds report would suggest because see many people have 4._0._1._K's only option is is is mutual funds. And then they roll it over typically to the big retail brokerage mutual fund portfolios. And unfortunately, folks, that's not getting it done. Sadly, it can get worse. I won't emphasize this other than to say, here's what you can do right. Things have changed the economic climate has changed were a global economy and things will only continue to be more and more uncertain. But I want to teach you how you can actually get yearly retirement income for life. That can legally eliminate the market's downside without stress without worry. Only upside opportunity without downside exposure, but design correctly can also also eliminate taxation on that income and savings. So see folks, we know a storm is coming and we've got to get ready for the storm. But chances are good that a large number of you listening or way out there and can't can't see where there is cover that can be taken in many people think that they're sufficing folks, I wanna teach you that by actually taking.
"ten twenty years" Discussed on KTOK
"Dow a man who's been recognized as radio's best the recipient of not one but two Christina's Marconi awards for his broadcast excellence, the one and only. Bill Cunningham Cunningham. The great American joining me. Now, Steve dais is radio. Talk shows, the great note working with Mark Levin, and Glenn Beck and many others the blaze. He has a great new book out a couple of nights ago about halfway through truth bombs, and the title is somewhat somewhat interesting because confronting the lies conservatives believe and Steve days. Welcome again to the Bill Cunningham show. Steve, how are you? Oh, well, Bill. How are you today? What it's a great day to be an American talk to me about about the lies that conservatives believe in whenever I watch I often watch you. I spent some time in Mark Levin. I spend my time with with those that Newsmax TV and with FOX and always hear about all the successes of conservatism of Republicans until the last election. We had like seventy five percent of the governor's where the house had the Senate and the presidency supposedly five members US supreme court. There's like two times. More Republicans elected nationwide is supposed to Democrats. Now the words we're in charge. But it seems like we're in charge. But not the right things get done. Why is that? Simple Bill comes razor. Those of us in conservative media. Have concocted this narrative, and many conservatives have I think it's because it's easier to tell us it's the evil party versus the stupid party. It's easier to to tell ourselves where the people that we elect kisser come and they're terrible. I mean, all these people that are highly successful in every walk of life. And then suddenly they get to Washington DC in their IQ with the are after their names seemed to drop precipitously the moment, they set foot there the Potomac. That's not what it is. And this is one of the things I point out in my book on Tuesday truth bombs can putting your lives. Conservatives believed demise Hakim's razor, the conclusion that requires the fewest assumptions must be true. It just comes down to this. The reason why is because they don't agree with. Period. The bill. This isn't a big tech the Republican party. Maybe it was a big ten twenty years ago. What is now is a big tart? Here's the different attacked. You can live in. I mean, it makes sold a little in the middle. But there are states in the corners the foundation that holds it up and keeps it that keeps it to a tarp is is covering something. You cover yourself from what from what's happening outside that you're afraid of. So we have really are. We have to America's. But it's not a conservative America and liberal America. What it is is the progressive leftist America. And then what's left of the old America, and what's left? So it's the left America versus what's left at the old America. And in that was it the old America you've got a lot of different beliefs in world years. And so that's why when the Republican parties in the minority, it's great. These people are all United against one singular opponent progressive Marxism. But then after they come out from underneath the tar, and they have to govern when the Democrats are defeated. They can't do it because they don't agree on a lot of the fundamentals of civilization other than they don't wanna go as far left in as fast as the Democrats. Do I'll give you an example, one of my better friends earlier in life was a guy named John bainer, and I live in Cincinnati. John bainer lived in Butler county, which is the county directly north of Hamilton county where Cincinnati yes, and John bainer was a rock ribbed. Newt Gingrich Republican this guy. What was on a fast track to be speaker of the house espousing conservative values? He would not bend to the whims and wishes. He would not not Washington change him when he was speaker of the house under Barack Hussein Obama. He did not advocate. He did not challenge it rolled over and play dead. And now the guys in favor of marijuana legalization because he's making millions of dollars instead of him changing, Washington, Washington changed John bainer, and that, and that's not an exception. It tends to be the rule. I can't recall a time. One eight liberal supreme court Justice was appointed. And that person became a conservative. But I give you examples of conservatives appointed like John Roberts or David suitor. Suddenly became liberals are close to being liberals. How is it? Washington changes only in one direction. This is what happens when you have convictions versus position. Now. What do I mean by that? I mean convictions are things you don't change. No matter what the circumstances around you are right here and progressive driven by convictions. Most people that get elected as Republicans are are driven by positions meeting. There's two options to your old friend, John bainer. And I know a lot of Republicans like this myself. I'm old enough to remember. When Trent Lott helps plot the overthrow of the moderate establishment. Bob, Michael with Newt Gingrich. And now, he's a swamp Blackie similar to what you just said about about John bainer. So there's two options so many people are just so wires. I mean, that's, you know, been involved in politics since you know, we left the garden brother, but other than that a lot of it is win win when they tell you so convincingly that they believe he thinks they believe them, right? Then in their positions are things that when I face resistance, or when I face a counter incentives say donor class dollars. Then suddenly, I'm like, well, you know, those positions could change I I can waiver on those saying it's not convenient for me to believe these things right now. But it might be convenient for me to believe these things at a later time. And so a lot of people in the Democratic Party can't get elected to governor. Because they want to do things a lot of people get elected in the Republican party because they want to be somebody. And there's a big difference. I'll give you another example, what's in your book truth bombs about the Republicans fighting conservatives harder than they fight the Democrats whenever the mitt Romney's a day or two before he took office rips on Trump. He spends a whole day on CNN flake and McCain and corker spent their time on CNN is Republicans. You will always have Republicans attacking Trump or attacking conservative basis, but you'll never see Liberal Democrats going after Barack Hussein Obama when he was in office is simply did not happen. Why? Because you always attack which is the most fiercely which are the most threatened by the reality is the people that run the Republican party would they want to beat Democrats. But they would rather lose control. They would rather lose elections than lose control of the party to people like us, and which you're really seeing. Now, you're really seeing that, you know. You know, I was part of the conservative number Trump grouping twenty sixteen I thought there was no chance given Trump's character. He would deliver on conservative policy that made it worth the gamble. Piero Eric's and others, but you know, what we found the last year's that Trump's actually delivered more on policy than we thought we were about ten percent of that group. Ninety percent of the people were Bill Kristol types meeting. They were never really conservative. They were just pissed off that Trump's base of every day Americans ran out of control of the party. And that's really what they're ticked off about it. And Trump's behavior was an excuse to mask the fact that he might use some of that stuff on the border security and things like that which they were never for to begin with. And that's what you're watching take place right now, I'll say this about Donald Trump, and I point this out my book and really my book points out. He's not really the solution, nor the problem is symptomatic of of what the Republican party is. That's why the whole book is not about him by a long shot. But I've never seen a clear a brighter clarifier in American political history been Donald Trump, both those who are willing to sell themselves out and those are willing to sell everybody else out. The what he exposes it is like you're watching right now at the border. What you're finding out. There is nothing you could offer Democrats that would convince them secure the border. Can they just don't believe in it period? Well, the thing is is that right now when I look at Democrats, I see Nancy Pelosi and Chuck Schumer who maybe she'll give one dollar literally. But that's it. They want open borders. They don't care about the medical difficulties don't care about twenty two thousand kids coming over unaccompanied. They don't care about. The fact we legally bring in one point seven million immigrants the proper way. So you got Schumer and you have Pelosi. And then you got Alexandra Cossio Cortes who said seventy percent income tax. You add on top the ten percent of local taxes five or ten percent estate taxes. Ninety percent. That's great with her. You have governor Gavin Newsom who signs on sanctuary to all who seek it free healthcare. You got married applause, yo in New York City, saying brothers and sisters is plenty of money in this city. There's plenty of money in the world is just in the wrong hands. So you have those four representatives of modern progressivism, and we see the results in places like Venezuela. The total. Collapsed Venezuela before our eyes and the end deniable horrors of communism are really insufficient. They've not embarrassed. The spouse ideologues knowing the failed, misery. They've tried everywhere else. They want to try it right here. And I guess they have a fear Stephen day says this that six of the last seven presidential elections. The Democrats have won the popular vote. I was shocked as was the president when he was elected in two thousand sixteen I related a few months ago, a conversation I had on election day itself about two three PM while we were voting here in the state of Ohio when Donald Trump junior was a frequent guest mind because as you know, Ohio's a terribly important state. I talked to him off the air. And I said I'd say Don, how's it going? He said it's going to be a disaster. He said we could have won Wisconsin of we had Walker would cut a one Ohio. If we'd casick Don Donald Trump junior said, we could have won Florida if we had Bush, but we we we had a chance to win this thing. I said look people are voting right now. Let's run through the finished. I don't worry about it. He texted me about five thirty PM that election night day. And it says in the test is worse than I thought. I text them back. What is it? He said, the exit polls have is down ten points in Florida, eight points in Ohio. We're going to get blown out. I said, well, I'm very sorry to hear has your mom and dad went back and that was at nine thirty pm Texas may dog catches car. They were shocked to of one as you. And I and I tell you what I thought the Trumpster what the moderate to liberal Republican as he was his entire life in New York City that guy is performed magnificently well beyond my expectations. Well, beyond what Romney would have done or what Bush would have done, or what are the other sixteen would've done and having done that he spends as much time fighting Republicans as fighting Democrats. He does that. Because of what you just said. I mean, let's go back to what you just said about the border. You know, who doesn't want a secure border either. The Republicans don't most ninety percent of them why. Because a donor class dollars. You know, one of the things that can I point out of my book is that the donor class in the Democratic Party is to the left of the average democratic voter state like Ohio donor class in the Republican party is also to the left of the average Republican voters in a state like Ohio. And so these the Mitch mcconnells and Kevin McCarthy gonna talk tough conservative now. And it's liberty scoring our conservative review website is absolutely terrible. Because he knows he has no power in the house. So he gets to light it to listeners like yours. Secured this border for years. Repeal Obama for years, and and they don't wanna do it because their donors loves the insurance cartel loves the fact that you had to buy their products, whether it sucked or not, and then Secondly, they want they want open borders for different reasons. The Democrats do and that is their corporate donors want a permanent surf worker class that they can treat like human chattel to try down wages, and then when they don't know them anymore. They just import another van mode of folks, they can take advantage of and so the two parties and their and their leadership mechanisms essentially have conspired to have the southern border. I sit for the last couple of decades for these reasons I'll give you this one. Another sad example is governor John casick who's left office? Now, Mike dewine is taken over. I have more hope and faith in him. But John casick was a typical country club Republican who did not even welcome in two thousand sixteen a half a million people coming to Cleveland, Ohio. Now, he's running around Iowa New Hampshire by case. Was in the modem McCarthy is in the mold of John bainer? He someone who's not really a conservative. He's a Republican. And there's one hell of a different. Let's move on to other topic. When I read have through halfway through your book. Why has the left Stephen days gained complete control of social media Hollywood television shows academics? Colleges universities, every major city all the major city police departments most of the publishing in this country..
"ten twenty years" Discussed on The Dave Ramsey Show
"And when you're unified on that, then we're there. Shannon. I just prayed about last weekend a sizable gift that we were doing from generosity standpoint. And you know, we we had to talk it through and it forced both of us to look at our feelings about things if both of us to have other discussions that weren't even related to the gift. But it was a sizeable thing is enough money that it caused both of us to sit up straight. You know, and when you sit up straight like that, and you're paying attention if forms your relationship and your marriage, so. I know a lot of people think they can run separate accounts. That's just no data that says you can. And there's lots of data that says you can't. And I've been doing this thirty years. The number of times, I've found someone that raises from nothing and the couple is married. Ten twenty years thirty years, and they've got ten fifteen million dollars. And they didn't do it together is almost the number of times. I have someone to a debt free scream here on the air. We paid off a hundred thousand dollars in debt we paid off two thousand dollars in debt we paid off our house and the spouse is not on board is almost zero. It's almost and I'm not just preaching. It you Christine. I mean, this is just a good subject for our whole listener listening audience to really grasp and grapple with. And it is the danger of living together before marriage because again, you set patterns in place to that. Now, you're having a reset and you have eleven years of doing it as roommates and now discussed doing it as a married couples weird, but if you were never living together before and you just said, hey, we're getting married that means we combined everything the precursors. And now, you are one and the old marriage vow say unto the all my worldly goods, I pledge. I'm going to take care of you in sickness and in health richer floor. You're gonna take care of me. This is what marriage is and there's something there, that's really rich and really real that puts this hour of the Dave Ramsey show in the books. We'll be back with you before you know, it in the meantime, remember, there's ultimately only one way to financial peace, and that's to walk.
"ten twenty years" Discussed on Mixergy
"Newburgh, say ten, twenty years for that. And my word was always, we triple our revenues, but the prospects of our future is cutting other as we move forward. So you're basic upstream. But I could see how maybe parking wouldn't be as necessary. You're right. I go down ten blocks. It's going to cost me eight dollars to park might as well take birds. It's it's cheaper that way the but people still take a still took Bart into the office. People still take you imagining in an atomic economists vehicle world that buses won't be necessary, or you're saying that. That's that grace that if you could translate into that than that would save the business exactly long-term attend twenty years on in our future, using our is our cash got on. Nations in so that we have safety. Our future is really what we're thinking about. And the reason that you're thinking about cities is you already have an opening. You already figured out all the different ways of getting into each city. And so maybe you could convince some of them to sign up and work with you on transit. Exactly. Related work. We already had mobile payment platform. We had a technique enforcement platform, so we had seen that once we are putting the door with one of the products, we cross sell other product and transit. The transit department wasn't very far away from the arc. In many cases, they knew who is there. We had a good relationship with the city already. So for us for cross was not asking much, and so that was really putting the door with products and then process and other transportation products was this you selling at the time. I mean, I did a lot of selling as well. I mean, I wasn't that wasn't my primary role has more on the tech side, but anyone of these I love about on CNN, Russia is you do everything you really can. I got be a gap filler. So early in the company's existence is typically building a lot of product. I can build product Deb p. milk product, but. Transition into marketing sales fundraising and enjoy all that. Okay. We talked about my second sponsor, then we'll get back into while you're not there and. So on. So the first the second sponsor is a company called hostgator. I think most people already know about host gator and part of the problem that they have is people already know about them made up their minds about them. We see if I can tell you about one of the guys who I know who's on hostgator help you understand why hostgator is so powerful. With a guy named side bulky side. Bulky is known for owning a bunch of different properties, but for him, it all started with a little blog called WP beginner. He was a teenager with an understanding of how WordPress work. We started to blog about it and you think about all the people who blogs his fell down. Why did size take off? One of the reasons that it took off is guy super smart. Yeah, he's grated SEO graded understanding what people want and create a great content. He's also super cheap. He didn't weights a ton of money. He knows how to be cashed efficient. In fact, Charlie, I don't think that he's going to be set for me saying this, but he and I had his dinner incredibly well off. He bought like the, he put a picture up on Facebook. You said, you see that Bank. I bought the building of the Bank. Now, Wells Fargo is one of my tenants. That's where he puts his money from all different enterprises, super cheap. We sit down, he discovers I think it was a dime on the second floor. He side picks up the Frick Don puts in his pocket, but not before showing off and showing me that he found a dime. That's the way the guy thinks. And so I looked to see who host his blog who hosts his website and it's host gator, and the reason that he uses hostgator same reason. So many of us use hostgator. It just works. It's been up and running for years. Now, here's a guy who actually knows about WordPress and WordPress hosting. So it's been vetted by people like him and it's frigging inexpensive. You don't have to pay an arm and leg for web hosting if you're out there and you wanna sign up at a same hosting company that he and many others use. Go check out, not just hostgator dot.
"ten twenty years" Discussed on This Is Success
"I had no confidence in what I was doing because I'd never done it before. I've never rented someone in an apartment and taking their financial information. I never sold an apartment before I was dealing with money that made no sense to me because I'd never had it before. So it was important for me to try to figure out what I could control at that stage in my life and what I could control is what I knew. And so I would go on these brokers have watched other real estate brokers give tours and because they've been in the business for ten twenty years, they didn't really know everything about the building or the block or the neighborhood, but they really rested on their confidence because they had done a lot of deals like that's what they knew. So I didn't have that. But what I had was the ability to memorize information because I'd spent my whole life trying to be an actor so I can memorize information really, really well. So what I told myself was listen, I'm going to rely on what I know, and no one is going to say, wow, you're too new to this business too young because I'm going to no more than anybody else. And so I would memorize as much as I possibly could about the building. I was going to show. The block it I was going to be on. I do my research on an entire neighborhood so that no one would ever look at me like a young kid doing business. Like I could tell you that on the corner of twelfth street downtown and Fifth Avenue that building on the corner has one hundred forty two units in and it was built in nineteen. Eleven right in the super name is Tony like that was good information for me to have that all add to do is figure it out and memorize it. And that was then my confidence. So that's what helped me balance out that seesaw. At what point did you realize that, hey, this might actually be something more than just the side gig yesterday. I mean, I could tell you about every deal ever done, but it took years of doing them over and over before I really figured out, you know what maybe this thing is going to work like even after millionaire listing started. Like I got cast millionaire listing in two thousand ten. We filmed the whole first season, two thousand and eleven. I almost died because I was so stressed out the whole time. And then it came out in two thousand twelve and even then the market was so terrible. So hard. I still didn't know like, was I going to do this? The rest of my life was this really going to be my thing even when you're on TV doing because the show hadn't come out yet and I was still trying to figure out what I wanted to do. Maybe I went back and got my masters. I don't know. I was. So I came to New York to do theater in hand model a little bit. Now, all of a sudden I'm selling real estate on TV, like this was not the plan, but it kinda was the plan in a weird backwards way like there is no path, right? That's why try to say yes to as much as possible. And you figure out the path along the way, you know when people ask me like, what? What kind of mind. Set I had going into this business. I really think back to when I was a little kid and I, I made the decision when I was a little kid to be successful and hopefully it'd be through acting because I think I could be the next Brad Pitt clearly didn't work out. And it ended up being as realistic agent and a real estate agent who's on reality TV. But I chose success. I and let the career come second..
"ten twenty years" Discussed on POLITICO's Nerdcast
"People are new to politics they're running for the first time not only are they not really connected into the democratic party infrastructure the way someone who say been like state legislator for ten twenty years might be who's been kind of grooming themselves for this for a while but they also they've kind of had their political awakening at a time when the thought of challenging a speaker in a floor vote and like denying them votes from the party not making it a pro forma vote was non usual they've been watching republicans do it for a while they've been watching some democrats talk about it for a while as well and it just it's not taboo anymore yeah and i think the loyalty issue is really important the the people who feel the strongest about nancy pelosi are members who have had careers like nancy pelosi that had bus through lots of different barriers and had been in the house for a long time and and just feel really strongly and have strong ties to pelosi these new people coming in or not gonna have anything like that at all and i think they're going to blanche at the idea of being led by somebody who was elected to the house when ronald reagan was president i think too that there's just an element of better understanding amongst the voters to that they're that process matters they're more interested in paying attention to these things and they're going to hold these candidates countable they know what the these promises are we've all everyone is so tuned into the news right now that you know sometimes i think we we underestimate how much people are you know people push back on me when i say you know are are they going to support pelosi you never you know i hear often from campaign managers or from candidates oh well nobody cares about that here nobody talks about that i don't know if it's really the case anymore and it's definitely not going to be the case when when these television ads are going to be making you know these republican attack ads will be making the case against them for it so i think the people are also more tuned into sort of the process stories of washington i think i need a producer fact check on this pelosi effect i think maybe she was elected in nineteen eighty nine special election so that wouldn't have been when ronald reagan was president george bush was president regardless sorry had to clarify that this issues coming to head in a few races that we're seeing heading toward primaries just this week we've had a week off mercifully from from primaries and you know we've got a few states coming up on tuesday colorado maryland congressional races in new york where we've seen democrat max rosen staten island anthony brindisi in upstate new york or to the folks that you've been talking about elena who are vowing to vote against pelosi if they make it to the house we've also got oklahoma and utah the great mitt romney comeback continues apace on june twenty six presumably plus and primary runoffs in mississippi and south carolina charlie you've you've got your eye on on a few races in new york you've you've mentioned looking forward to tuesday what what are.
"ten twenty years" Discussed on BiggerPockets Money Podcast
"Such unique individual thing we've got to start with that which i did not when i first started i just let the business control it as opposed to starting with the the white goal and then working backwards from their chime in here you know i'm twenty seven here in still kind of working out what my life's gonna look like in five ten twenty years you know i i don't know that versus you know you guys have have families in kind of know exactly where you're at and what you kind of need to get to that desired end result there so what kind of advice would you give to someone like me who's like i'm building for this future that's a little less certain than maybe that what you guys have already got here how do you determine a number their end goal for your your business yeah i was on a very similar situation where i was i was undefined in many ways my own futures undefined to some thirty thirty eight i don't know what i want to do when i grow up either by the thing is i find like i borrowed this from some non real estate financial kind of thing cres in bloggers where you try to have like an on two different goals at one is like an income floor like for me i was at an income go i wanna make a certain amount of income every month i wanna have real estate paper certain income to cover my basic expenses so let's just let the number let's just say like his five thousand bucks a month let's say you wanna have you real estate cover five thousand bucks a month so when you get to that level maybe that's your light are my family can live very comfortably on that or or if your numbers ten thousand numbers sent thousands of some number like that when you get to a place where you have a your portfolio producing that much income in a stable and resilient and a safe you that's a really big milestone like that's that's sort of like the peak of financial independence in some ways you done something well but the other thing that kind of note was that learned for myself was.
"ten twenty years" Discussed on In The Draft Show - NASCAR Talk
"Article i can't remember where it was it was a link at the bottom of one of the articles i was reading this week and it said that kurt busch is selling his house on lake norman because i guess buying another house and houses for sale for like three point nine five million dollars and on one hand by celebrity stat by celebrity you know but by celebrities measure that's not that expensive house three point nine four million but for you and me and for people who were majeure the majority of nascar fans it's an astronaut michael amount and it really illustrates that they're in a different place now because you know drivers ten twenty years ago even they have four million dollar houses on like norman they you know they were trying to make ends meet just like the people that were there fans and so they wanted to go meet those people because they needed to go meet those people because it was their only way of getting popularity getting better rods getting better sponsors and these drivers don't have to fight for that anymore and so they don't go to north dakota or go to south carolina or go to you know kentucky or something like that unless there for a race and that's what they need to do more of because like you said people get excited when that happens i mean it gets people a chance like because if you can't afford to go to the race or or stuff like that it gives you an extra chance go see your favorite drivers maybe sign i mean it's one of those things that i mean like even even the the smallest things like even guy start at first pitches that could be a thing i don't see that anymore like it seems that nascar nights and stuff like that.
"ten twenty years" Discussed on RobinLynne
"Just a told us that you can get out of it that the kids and everything or just so different you know what uh okay now that god is a uh uh uh something that uh people debate about of the normal average gross in proudly couldn't tell the difference between the frowned but guy of always wanted to ask musician exactly what their new probably now i gotta ask you this also i can listen to eyes we brothers recordings you guys for some reason you're stuffed no matter how old liz it sounds is very clear did you even the old key next stuff did you guys user a higher recording process uh levels this of course have always wanted to ask highly he maintain the clarity i dunno if he you know what i'm talking about but i can play something for my brothers years ago very clear south fidelity the crisis of mastering a record back in the day had a lot to do with it but there was a anything you guys did special in a mechanical part of it after the saw this was being recorded not really um a recording either or anything like that no we will turn to me speeds or anything like that the thing is like when you um i mentioned the issues that that you use now that can that can uh change clarity in a like what okay razor to record a uh a specific track you know high can hewitt you know determines in office going to be clear of is gonna be muddy you know what i mean uh wrap things like that uh but there's nothing special we we put on it other than okay you know the the board could provide you know right well k s beautiful now look future uh i'm sure you're gonna be making music is producing your son or what is the future until focused after would so during uh for the next ten twenty years or hopefully i'll be into film suv either uh where we working mark michael his uh written the script for film and we were doing the music for uh which is really amazing because there's this.
"ten twenty years" Discussed on Out of the Blocks
"Every everything we wanna say to your future so ten twenty years down the road about you would who you are the kind of man you were kind of dad why we want him to know about i would tell my follows always telling me on this these the best policy and the only ways the right way and there's always guided me right i'm very thankful of that i wish you with your soon the him veal you're on thirty six hundred falls road it's out of the box one city block everybody's story everybody everybody everybody every bothers story kurt cobb president speakeasy productions in hand and at the corner of falls in thirty six street and i guess we should reflect on the name the rumor has it that in the 20s this was a speakeasy in the alley that you walk down to get in here there is a small little maybe six by eight inch spy window and the rumor has it that that's where the authorities were kept an eye out for what a beautiful coincidence that this might have been speaking easy uh and what a perfect name for your enterprise tell me what you do here well we sort of fallen into core communications we do a lot of narrations four industrial incorporate employee benefits programs so this is not much of this allowed to play um mrs internal training for out pricewaterhouse coopers joined that thousands of already lack pwc reduce their student doubt looks like at the benefit program for new hires uh to help paying off student loans i mean we let our clients to choose from whom we have the offer of the first day.
"ten twenty years" Discussed on Exchanges at Goldman Sachs
"All that is stuff we've got to continue to work at but for us to continue to be such a high quality employer would have to invest in that stuff and we're have to invest in it more candidly in the next ten twenty years then we had to invest in the last 10 20 years david that's great way to close out thanks for joining us here today my pleasure joy to jake always get to see if that concludes this episode of exchanges goldman sachs i'm jake siewert we hope you join us again next time um this podcast was recorded on september seventh two thousand seventeen this podcast should not be copied distributed published or reproduced in whole or in part the information contained in this podcast is not financial research nor a product of goldman sachs global investment research neither goldman sachs nor any of its affiliates makes any representation or warranty as to the accuracy or completeness of the statements or any information contained in this podcast and any liability therefore including in respect of direct indirect or consequential loss or damage is expressly disclaimed the views expressed in this podcast are not necessarily those of goldman sachs and goldman sachs is not providing any financial economic legal accounting or tax advice or recommendations in this podcast in addition the receipt of this podcast by any listener is not to be taken as constituting the giving of investment advice by goldman sachs to that listener nor to constitute such person a client of any goldman sachs entity.
"ten twenty years" Discussed on Ross Tucker Football Podcast
"Yeah absolutely unbelievable i i still think you might be the best pure athlete that i've gone again so that's that's a good answer now some of these other ones jeff only i think maybe i've ash before but i can't remember and i'm curious and if i have astra before tell me maybe a maybe some of the aftereffects of football already kicking in so you're one of them a rare group of guys of jewish players in the nfl over the last ten twenty years right yeah we only lower play they were like eight of them i don't really know how many deputies brother alley more at office for talks um there's not many more in your entire football career high school college nfl especially nfl though did you ever come face any antisemitic comments ever uh no i really do um i've got a couple of one of these stories one of them we had a trainer who you tell me almost every day that i should be owning the team not playing for one because there are more jewish nfl owners and there are players he told me that cost that was that was pretty clever on him jeff did you think it was clever or did it get a knowing and did you almost feel like like i get it dude i i got the stereotype i got it no it was fine and gives uber i'm you like it was on the back your day were you would see it on a day where he didn't want to practice or something easy tape in my hands and so it was it was it was okay that was the least of the that of fifg komitch i've heard um i i um we he'll are curious and very religious in the locker room and so i wanna questions just general judaeism questions eight people want to learn um people wanted to just understand judaeism i mean i.
"ten twenty years" Discussed on This Week in Startups
"Two million users with barely any marketing at all and y'all marketing team i'm starting a new company skull free labour free rights dot com if you sign up now is we're going to figure out a way to give you free fivedollar rights all over town i mean you're going to get a a large number of people right some pentup demand to try it because it's free yes but it's rush this is going well i mean it there isn't there are cost i guess this is where you had some unique insights and proprietary knowledge of the system isn't there are cost doing trades or do you get paid for trays is there are some clearinghouse how does it work for you on the back end to in the cost of doing all this yup so i think this is the part that a lot of people have misconceptions about the cost of doing of trading is essentially zero it's a purely electronic transaction and it didn't used to be that way you know ten twenty years ago you'd have trading places where people were actually in the pit or you'd have the people in the pit in then you'd have the people upstairs talking clients and there would be pieces of paper assertive passed down and exchanging hands eventually they realized well it would be a lot more efficient if we gave these people pdas so that you know that information was transmitted to the trading pit instantaneously yet and then.
"ten twenty years" Discussed on The AskGaryVee Show
"As if want serious man i'm pissed you've got to date it's been sliding into the as i've been right now this is a big one gary what's your often vision for yourself your company in the world for myself that i have the stunning that my funeral will be attended by far more people than anybody realized that's for me for my company that i build one of the great entrepreneurial media business empires of all time and for the world that it continues to do what it's doing which is at a macro it always always always is better than it was the day before even if the headlines trick you to not believing that where will influence our marketing being five ten twenty years it will be it will be far bigger than most people think in five years billions and billions and billions and billions put for buildings off five in ten years it will be understood and be trillions and trillions and trillions business and twenty years i don't know but will probably start looking like television which is trillions and trillions and trillions of dollars but not as effective as it's going to be over the next twenty years it will be a mature market which needs to be priced appropriately or more likely overpriced what advice would you give to someone who doesn't know what to do with their life to try as many things as possible and get into the yes business instead of the no business they've decided what they're not going to do what they can't do instead of focusing on what they could potentially do.