20 Episode results for "Thirty Billion Dollars"
Roadway pollution, fungus promotes pancreatic cancer, the bang in the Big Bang, infant eels magnetic migration and the pathway to Mars.
"This is a CBC podcast the dark haired inherited researchers deploy snippers around Canadian roadways and find disturbing amounts bang in the big bang the universe was cold and simple before it got hot what it will take to get us to the Red Planet and the first big challenge could be finding plus how tiny baby eels find their way across a whole ocean and a fungus from cars and trucks but the thing about smog is you probably haven't heard much about it lately Eddie released this week shows we haven't cleaned up all the pollution from vehicles with the range of health issues from asthma to cancer it's a serious Concern Ontario Center for Atmospheric Aerosol Research Dr Evans Welcome to quirks and that's when we looked into how many Canadians live near major roadways when we found out it's bows at the Toronto and Vancouver and we set up stations right beside the roadway and you say roadway what do you mean what kind of road was what we looked at what we call arterial a young street might be one in Toronto Clark drive would be one in Vancouver Okay and did America so that's the other part of Toronto and we had something in between which was a major road arterial roads people live quite close to them so what kinds of harmful pollutants did you find oxide which many people might measure but we are also measuring things like ultra fine particles gases as well organic acids aromatic gases so really quite a chemical John Hayes covering city light's different in that Well let's start with the good news I mean is much more varied across the city it's really where the vehicles are and we found in particular calls that do exceed some guidelines and the ones that really worried us the and we found levels that could indicate that there is an increased incidence of cancer affect some people knew this already some of them are cardiac effects neurodegenerative development effects the idea that kids in schools and you're busy traffic don't learn as well that's what is that it's it's more than just the major roadways which is the way that we thought about it originally it's small portion of the trucks why are the drugs such a concern well trucks are diesel that carbon more ultra fine particles and the challenges is that even though diesel technology on the road that don't have these newfangled treatment systems but also there just don't think they appreciate that when their truck drives by a playground take the heavy hitters off the road or force them to get repaired or other things that cars are giving up there were other things and that was partly surprising is that you have lost has worn off and it's gone into the air the tires the same way they tom and what we found is that for Toronto at least the non tailpipe emissions from wow so what could be done then to reduce all of these the standards of emissions that we have in this country enough I would say a pleasure a treat Dr Greg Evans is a professor of chemical engineering at the University of Toronto Her with a five year survival rate in the single digits. That's Canadian four pancreatic cancer I wish I had known sooner that the persistent stomach unexplained weight loss new onset diabetes and the yellowing of the skin or eyes survival rate this a new study suggesting that a common fungus tech pancreatic cancer earlier and possibly improve treatment options me here what made you suspect there might be fun. Guy In the pancreas wave sort of like a highway for other pathogens to go to the pancreas and that was one fungi so the obvious question was can fungi also migrate to the pancreas it goes against the sort of earlier teachings about the pancreas he used to think it was actually sterile her her so when I say we have found fungi or bacteria to pancreas what tipped you off that it might be involved in pancreatic cancer we did a very simple human samples and Mao samples that we had to cancerous tissue that we created cancer tissues to and basically just stained for Fungal Specimens and easy of very striking number when you see that number obviously you start so what we did is call sequencing and we were able to find one how does it get into the pancreas melt has been known for quite a long time and people know have this specific fungus right now living with us and it doesn't cause any all it's playing in pancreatic cancer yeah so we wanted to answer obviously that question so we use the very broad spectrum to fungal drug and gave it to the mice because obviously cancer this Antifungal Drug and a control group received basically AAC even the therapies that are existing already out there more effective so and the tumors were smaller but obviously that had not answered the question of what's the and gave the mice specifically this Melissa Fungus is there at the same time the cancer developed makes it grow faster. We don't really think that post to protect you from Fungal infections and that activation cascade leads to inflammation type of mechanism that apparently pancreatic cancer has to make it more aggressive options of for therapy also so if both the problem of diagnosing we can detect a specific signature in for example stool of patients also we want to obviously see if the combination treatment we want to detect cancer earlier possibly even modulate this I even modulate this like specific fungal microflora and make it different strategies to attack the tumor that's gonNA probably make therapy more efficient urge fellow at the New York University School of Medicine he has to do with the origins of our universe the question they ask is what went they're studying an event very close to the origin of our universe a period called ars planets and everything familiar around us in other words it's pretty is there is a professor of physics and the history of science at the Massachusetts Institute of Technology the universe starts so what do we have at that point that's right well the short in about the we can actually kind of think through an actually compare these predictions with real observations at least according to our to our ideas to our to our theoretical models the universe differently than the kinds of of matter that we that we ourselves are made over that we're used to seeing it's like the Higgs Boson that listeners have heard about it's been in the news in recent years and it would win that when when the universe is filled with matter of that kind than Einstein's equations of General that's what we call this phase of cosmic inflation the universe would have stretched by many by this higgs like soup of this primordial matter okay so we we got this so what we mean by the term big bang means what was the time very early phenomena we associate with the big bang a certain kind of stretching of space the the light elements of the periodic table all these phenomena we we call the big happens what's the difference between those two Oh there's a huge difference and in fact what what inflation the average temperature of the universe falls practically zero it's very what the average temperature must be very high much higher than the average energies associated former goop that's like the Higgs bows on field but actually forms of matter like electrons smick inflation so what we were studying we call the reheating phase we have to heat the universe period is what we tend to call reheating well how did you then go through this it goes to my colleagues and my co authors there really wizards but basically what we were doing we were studying do how that energy become dispersed that that one form of matter would decay or space should knock into each other and collide and do this very complicated set of being just putting in the the way we already understand matter to behave we put together what we those particles should I be created this phase of particle production coming into those that we knew we needed for the big banks model to take over I'm trying to visualize the uranium that has the potential to explode but it hasn't exploded yet it's cold and that all the energy of the universe was stored up in the form of what we basically could call potential energy of individual particles which then can scatter and therm allies and it's very fortunate for us is is to really tell a continuous unbroken story from very in the universe's history to get to a universe that starts to look a lot like the one in which we David Kaiser is a professor of physics and the history of science at the Massachusetts Institute of the European ill has a complicated and fascinating life follow travel a Florida and the Bahamas and starting out as tiny larvae they travel more than astles a delicacy in many countries in Europe which has sadly made them a ears growing and maturing before they make the long journey back to the Sargasso they seem to know how to get to where they're going just how they do it was a puzzle I am very happy to be here now how do you study how ills navigate me Atlantic Ocean that little glossier you can't put a satellite tag on them it's pretty unique you put the glass seals in this transpiring city uh-huh where the fish wants to go and what we did was to to drop this whole system Oh wow so what did you find power the navigating so for the path in which is a lot of evidence that shows that this small yields a ride to the coast the how these these glasses where orienting with respect to the moon okay the moon during neum during the daytime so the and what I saw is that as soon as the moon rose above your Isan random it so it's something it's really specific to the new moon face well WANNA apossible policies could be these orientation depends on home the moonies between that and some the sound race basically hit the moon it's amazing okay so the heels are detecting a disturbance in the in the Sun's Radiation Okay we have to remember the Ulster need to go to the same stream with the parents came Oreos so what happens is that doing new moon the moon rises East Shen your average direction would be south and that's exactly what the yield school this winter the south this would probably take you south east which is exactly you're saying that these yields when they see moon they turned right and it takes them to Europe how they have to navigate up the the estuaries up to the lakes yes and there is a three blink and occurrences reached back and forth with ebb and flow tights so you have like so they wanna stay there because they're going to become juvenile so they object magnetic facility with electric coils inside and see whether thank to investigate this specific type of mission we sample yields to the east wants to the south and west to northwest in because each one of show on Orientational in the magnetic lab that is related to such currence the earth and you you found that when you rotate your artificial magnetic field they followed that it's going in they just go with it point the exactly they they always go against the cutting using I mean here we're talking about larvae and we're talking about Ales and in one stage of their life they're using the knowledge to have in a in a lot of super by with right there well thank you very much for telling this is the plan get your ass loss Makara race we go there and I well today on quirks and quarks we're kicking off a new series we're calling the pathway to Mars this craft the astronauts will travel in how they'll survive long trip through interplanetary and the most difficult expensive and dangerous trip as well so today series is is Canadian astronaut physician an engineer Dr Robert Thirsk for his Canadian Space Agency to investigate biomedical and healthcare issues for future Asian for emission what has to happen I set the stage for a mission to Mars there's a number of critical water plants rocket fuel production plants and and even safe nuclear power sources excu years for the first test of these technologies thanks Dr Thirsk News and someone who knows a lot about this is Dr Lindy Elkins Danton she's your Elkins tent and welcome to quirks and quarks thank you so much it's great to join you so what are some of the major areas of groundwork that have to be established before humans are going to set the plan of human endeavor and it's GonNa take all of our economic sectors not just government not just to be answered before we get going the first question that people think about I think often is how about all the things that have to happen along the way and the things that happen happen one we're on the surface creation and from micrometeorites and of course all of the power era resources to keep people alive you mentioned that spacex we wouldn't even have time to list them all there are so many there are people thinking thirty water and we really can't bring with us all the water that we need and there is water a lot of groups are trying to get ready for that kind of challenge including Caterpillar if there is water in the permanently shadowed craters the places where the sun never shines on dangerous not like any water purification we've ever had to do on earth and S. network here on earth but we don't have those for the Moon and Mars and then definitely have work to do well we're a long way from putting humans in a spaceship to Mars off the planet and going fast enough that it can go out to Mars and or to ready to move a lot of weight a lot of mass let's get those rockets first that's number one if their starship a great big crew and material the human settlement they are absolutely serious about this we hear about be a bit of a practice site for us we've got to be able to go somewhere set something wait for the earth to comeback around the sun we have to be a lot more certain about our technology before we're ready to go go then to the moon or to Mars but I think that more people now are thinking about going direct to the store and try out our shoes okay now it's time to get in the car and then drive to the airport happened well what missions are already planned as precursors to going to Mars it's like gathering resources I think that would be fantastic thing for robots to be doing pushing on so hard that's our biggest closest push artists was the sister of Apollo and then there is a a kind of parallel effort going on in China as well and community all lined up to help some we do this as a consortium and not as I feel certain that we're going to do someday and I think the chances that we really really hope they do that that would be such an inspiration to every person has to chat with you today thank you so much Dr Lindy Elkins Stanton is the director technical challenges necessary to prepare for a trip to Mars but technology fuel space programs run money lots and lots of money a mission to Mars will require a greater investment of political and financial capital than any covers the defense and space industries for the Washington Post Mr Davenport welcome back of a precise dollar figure I would think no but we do know that it would be enormously cost twenty to thirty billion dollars to get to Mars would be is really nervous about saying out loud and in public how much it would idea what some of those estimates are oh they would have to be in you know hundreds of not their resources together and also harnessing sort of the commercial space bring down the cost spacex now it's selling its Falcon nine rocket and they're trying more and more to lower the costs and do it more successful than maybe that number comes down and that's how you get sort of a more politically international astronautical congress in Washington DC it's a huge international go back to the moon and then sort of build up the expertise and technology that would be needed to get on them dates that effectively bans bilateral cooperation and space as a they've got a lot going on in space I mean earlier this year they landed on the far together well China also had its own little space station and its own taikonauts a cold war like space race what competition would certainly be much where you had elon musk and spacex come in and really take on you know the traditional with blue origin building new rocket engines new rockets all with had other industries like Amazon went in and was competing against Barnes and nobles in with with Elon Musk when I interviewed him for my book and we were talking about blue origin go away I would not press that button because he knew the value that straighter Jim Brian Stein would be great go for it you you know we would want to do that think things but they know they stand on the shoulders of NASA and let's be heritage and that expertise but then apply that an entirely different model not in the government the cost and NASA's looking at that and saying that is a good way to go and maybe we can go in partnership yeah I mean I think that sort of a much more plausible way of thinking about it than just a big government we forget today NASA the United States government does not els away it's like the distance between Washington DC and New York we pay the Russians to fly clear plan without the funding without these alliances just seems like it's incredibly possible and then at some point they do Mr Todd import thank you very much
Lights Out For PG&E?
"So cardiff you know the iconic board game monopoly of course so i feel like everyone has special monopoly strategy like their go to you mean not everybody just buys everything they land on or is that just being you know why don't i land on i just i try to get a house up just a sap i feel like that's the key anyway see to say though what is not part of anybody's monopoly strategy is the utilities the electric company and water works if you even remember they were on the monopoly board they are there they're just kind of boring yeah why you said by all accounts they don't pay very much you can't develop them you know they're not a bad thing to buy a little trickle of income i guess and in a lot of ways that is how utilities are in real life to or lease they were this is according to sevren bornstein he's an economist and also directs the energy institute at berkeley's haas cool if business and he says utility companies like duke energy and north carolina next era energy based in florida up and california's pacific gas and electric have traditionally been pretty solid sleepy little stocks to invest in and so investors have seen this as a pretty good investment not that they made massively more than other companies on the stock exchange but they made about they did about as well with well taking on less risk less risk because these utilities have a kind of built in customer base needs light and they've got a product that everybody needs so p._g. for instance the big power company in california has been a profitable company for years sometimes even making annual profits of about a billion dollars so it was a little surprising that they declared bankruptcy few days ago the company has been around since the early nineteen hundred is about the same age as monopoly itself and it is huge monster it is the biggest publicly traded company to declare bankruptcy in a decade since financial crisis so what happened this indicator from planet money i'm cardiff garcia and i'm steve vanik smith today on the show what is happening too boring utilities repeat jeanie and others the tilleke business is changing now a lot of companies governments and customers are kind of feeling their way in the dark support for this n._p._r. podcast and the following message come from yahoo finance live eight hours of free live streaming news without cable or is subscription tune in for the news you need about your money acceptable wherever you go support also comes from asana asana is work management software to help teams organize everything they do so they can focus on the work that matters most try sonal free for thirty days get started at a asana dot com slash indicator the tilles business is almost unique most utilities are actually investor owned companies like apple or exxon they're not run by the government but they are regulated by the government and so yeah it's kind of a unique partnership economists seven bornstein says many utilities were set up as kind of a regulated monopoly near-monopoly the companies would invest all this money and infrastructure they build out a power grid and exchange for this big costly investment the city or the state would agree to make them the power provider or one of the few power providers for an area they would have their own captive audience but they couldn't go crazy with that captive audience regulators would generally approve the rates that utilities could charge and the regulators would also oversee operations in services because remember this is a public utility that was being provided so you have a company that's trying to maximize profits running a necessary public utility and it all just seems kinda weird contradiction it is a weird contradiction because it's so heavily regulated but it actually is the primary model for electrical generation and distribution in the united states seven says disa- merged as dominant model in most of the country there are publicly owned utilities and they're all are some co ops but those tend to be much smaller and the majority of electric city delivered in the united states comes through investor owned utilities that are regulated by a state commission but these government corporate partnerships have gotten kind of rattled recently for a few reasons severin there's something old something new and something sued this is america after all so i the something old a couple of decades ago a big wave of deregulation swept across utility markets all throughout the country including in california yeah little company started cropping up that we're offering competing energy services often they were greener or slightly cheaper alternatives and this was kind of shock for utilities a lot of times they were not used to competition and these groups have been gaining traction over the years p._g. any has been contending with these competitors and those competitors have been nibbling away at p._g. and he's profits that is the something old then something new happen or new ish alternative energy a lot of states for some years now been offering major tax incentives to people who install rooftop solar panels and again that includes california there's a big concern about rooftop solar that as more households than companies put in their own solar behind the meter that will reduce the amount they buy from the utility and the tilleke will not be able to cover its son costs of ran of running the transmission and distribution network and solar has been really catching on in california it now generates more than ten percent of the state's energy so that is our something new and now of course something sued to the lawyers nice the third curveball utilities are now dealing with is climate change utilities have to contend with some of the climate extremes that we've been seeing more and more of in recent years things like the ongoing polar vortex which puts a huge demand on the power grid but also things like hurricanes and heat waves and in california obviously wildfires due to climate change these fires are expected to become more frequent and more destructive but here's where p._g. faces an extra layer of risk severin and wildfires are different from hurricanes and tornadoes because the wildfire itself can get blamed on the tilleke whereas nobody's blaming the hurricane or the tornado on the tilleke here's the thing p._g. any has been deemed to have caused some of california's biggest fires in one case because it didn't tree branches near a power line the branches caught fire and now p._g. and he says it could be on the hook for up to thirty billion dollars in damages and it's insurance only covers a fraction of that they're also p._g. d has power lines and transformers all over the state of california that's just a constant fire hazard and ensuring all that would be expensive if it were even possible p._g. need day-to-day operations continue to make money but the wildfires have created such a huge potential aia -bility that there is a very real possibility they they will not be able to raise enough money to pay off those liabilities and that was their argument for filing for chapter eleven chapter eleven bankruptcy of course is win a company restructures and tries to figure out a profitable way forward but what is the profitable way forward because this formerly steady little business this boring square on the monopoly board is very exciting all of a sudden and you know what you do not want when it comes to heating your home or flipping on the lights which are open your gas bill excitement excitement nobody wants an exciting gas bill but now it looks like utility bills in california and in other places around the country might be headed up as utilities and governments try to figure out this new world has been a good system up until recently i guess well it has been a mix but it's not clear that it's any worse than they'll turn it is there's no good system here one alternative is that we have the government directly produce electricity that is owned the electricity company and that also has problems yeah seven says government run utilities also don't have a very good track record and that might actually be an understatement it does seem like p._g. unease fire liability might end up being less than it thought originally the company stock price actually went up after it declared for chapter eleven bankruptcy seven says he thinks california will end up with a slightly modified version of the status quo you continue with an investor own model but you recognize the much much higher safety issues and risks that we now face them we used to and you recognize this starts to look a lot more like the airline industry or the nuclear power industry where we don't just do office level regulation where the regulator says you should go out and trim trees the regulator actually sends out inspectors severance says p._g. any state regulators and all of the company stakeholders will definitely be looking at a bunch of alternatives and we will be looking for new board game yeah well monopoly takes too long don't you think when takes too long i've new patient i haven't played it like a quarter century or so i can't even make it through candy crush six to long this episode of the indicator was produced by constanza guy ardo our intern is will ruben and where production of n._p._r.
The necessity of taking supplements to improve health
"Allows me to see the medications they are actually taking as I go through their bottles I am always surprised at how many people are taking this is Dr Michael Wilks with a second opinion when coming into see the doctor I encourage all of my patients to bring in the medicines they take this interactions with many prescribed medications it's important to read about the supplements you're taking from a reliable source and that does not in botanical vitamins minerals probiotics and the like my experiences that well over half are taking some sort of supplement daily minerals in our diet taking oral supplements offers no additional advantage so why do we fork over large amounts of money for pointed thanks in large part to intense lobbying by the supplement industry the FDA has a hands off approach for supplements sugar pill and in some studies they've actually found that supplements are harmful even dangerous if you're like many people you assume that health so long as they also say that claims have knocked evaluated by the FDA and the supplement is not intended to treat or did the same standards as other chemically active substances and forced them to prove that supplements are both safe and effective manufacturers are allowed to make exaggerated claims about health benefits such as cleaning supplement improves or maintains and well over thirty billion dollars on supplements each year over the past twenty years or so the National Institutes of health and this is consistent with the national data that suggests that well over half of Americans take a regular supplement and as a nation we spent the supplements well it's either because we don't know about the high quality studies we don't believe those studies or the ads and the common cold what all of these studies have in common is a failure to show any benefit when the supplements are compared with placebo gene the manufacturer and then discuss it with your healthcare provider it is also high time that we hold the makers of supplements emotions that offer false claims are more convincing to us than the science in any case given their high cost and the potential for protect their health and the data I'm taking probiotics is still evolving but the vast majority of us get plenty of vitamins have spent large amounts of money searching for health benefits of these supplements they've looked at the role of vitamin E. and preventing cancer vitamins the FDA requires testing to prove safety and efficacy of the supplements the same way they do for drugs but you're going to be very prevent a disease and of course whoever pays attention to those sorts of disclaimers there are certainly people who need supplements the in preventing colds multivitamins in preventing heart disease dementia colostomy android intriguing joint pain and ECHINACEA intriguing.
Don't let criticism sting
"With the capital one venture card you earn unlimited double miles on every purchase everyday and you can use those miles toward travel expenses like flights hotels rental cars and more just book and pay for your travel using your venture card and redeem your miles toward the cost capital one. What's in your wallet? Credit APPROVAL REQUIRED CAPITAL ONE BANK USA. And I guys my name. Is Sammy j? I've been working as a correspondent and interviewer. Since I was thirteen and now at seventeen I am so honored to be the youngest person to have her own. Podcast on iheartradio. It's called. Let's be real with Sammy. J well indepth and unfiltered conversations with celebrities activists athletes and influences. We'll cover topics. We're curious about topics I guess are passionate about and topics. Many of us are just too afraid to talk about. I get past the fluff to what we go there and it's fun pretty crazy and very revealing listen to. Let's be real with Sammy on the iheartradio APP apple podcasts. Or wherever you get your podcast. Welcome to before breakfast. A production of iheartradio. Good Morning. This is Laura. Welcome to the before breakfast podcast. Today's tip is about how to stop wasting time and mental energy ruminating over useless feedback in other words how to keep criticism from stinging. I WanNa say that constructive feedback is a real gift. Someone can be mean and nasty but if that person gives you practical suggestions for how to improve something that matters to you. You're best off thanking the person you don't have to be friends but you can be grateful that said not all feedback is constructive. I was thinking of this recently when I got a letter from before breakfast listener. Who LEADS THE CHURCH? This minister lost a close family member. Shortly before Christmas. It was too late to find someone else to lead all the holiday services so the minister did so well deep in grief then she received a note from a prisoner who knew about the death saying that her holiday preaching was sub par. Ouch in this situation. The listener knew that this criticism wasn't really fair but as she reminisced about it. She wondered looking forward if there was a way to spend less mental energy worrying about such criticism. I think this is a good goal but not just for criticism we should also spend less mental energy seeking out unhelpful. Praise over the years. I've had a number of people read my books before publication to see if they flag issues that I can't see I always tell them that I love it and I hate. It are equally unhelpful. Even if as a human being I vastly prefer hearing the former instead. I want to know things like I stopped reading in the middle of chapter two because these points seem too repetitive. That's good too now. We can control ourselves too much to seek out praise just as we can make shortsighted moves to avoid criticism better to decouple our self esteem from both instead. I think that unhelpful criticism or praise can best be kept in context by drowning it with a high volume of helpful feedback the more feedback. You get the more you can see that not. Everyone thinks ex but a lot of people do think. Why would you hadn't even considered you can evaluate all of it without assigning too much weight. Anyone bit of it you can see which feedback resonates most strongly with you and figure out a way to deal with critical feedback in a way that feels authentic in the ministers case. I suggested identifying a handful of thoughtful church members who could commit to providing feedback on her sermons. Every week. I also suggested inviting some skilled retired preachers to visit her church frequently and provide feedback as well. The higher the volume. The more the random feedback from grumpy people can be taken for what it is. If you find yourself thinking for days about unhelpful criticism you might think about how you can increase the volume of feedback. You receive as well. Can you show your work to a handful of colleagues? Can you enlist a few mentors to provide advice if you do public speaking? Can you try out new material? In front of smaller audiences. The goal is to have your feedback be somewhat like receiving a gift basket if someone gave you a box of chocolate covered cherries as a gift and you hated. Chocolate covered cherries. Well you might be a little bit miffed but when the Cherries are package with popcorn cheeses crackers truffles cookies and a bottle of wine. Well no big deal. You can find other things that you'd find worthwhile in there so it's all good. How do you keep unhelpful? Negative feedback in chat? You can let me know at before breakfast. Podcast AT IHEARTMEDIA DOT COM in the meantime. This is Laura. Thanks for listening. And here's to making the most of our time. Hey everybody I'd love to hear from you. You can send me your tips your questions or anything else. Just connect with me on twitter facebook and Instagram at before breakfast pot. That's be the number four then. Breakfast P o you can also shoot me an email before breakfast. Podcast AT IHEARTMEDIA DOT COM that before breakfast spelled out with all the letters. Thanks so much. I look forward to staying in touch before. Breakfast is a production of iheartradio for more podcasts. From iheartradio visit the iheartradio APP apple podcasts. Or wherever you listen to your favorite shows support for before breakfast comes from T. mobile for business. Five G. will revolutionize the way we work but it only matters to your business if it works where you do t. Mobile has invested nearly thirty billion dollars and their advanced network to drive. True workforce mobility no matter the size of your business. T MOBILE FOR BUSINESS IS HERE TO CHANGE THE WAY. Your business moves businesses changing. Are you with us? More at T. MOBILE FOR BUSINESS DOT COM. Women's voices are having a moment an Iheartradio has got its first podcast about how we talk called permission to speak with me Samara Bay. I'm a speech coach. Who's worked with women running for Congress and entrepreneurs and movie stars on how to be heard in the moments that matter and this podcast is where I get to bring the conversation to you. Listen to permission to speak on the iheartradio APP apple podcasts. Or wherever you get your podcasts.
Morning Brief for Wednesday, June 19th
"Whatever you and your employees are working for ADP is designing better ways to help you achieve it from HR talent, and time management to benefits and payroll. That's ADP always designing for people for the Wall Street Journal. I'm Ameri for totally New York. The Federal Reserve wraps up its June policy meeting on Wednesday, fed officials have begun debate on whether to cut rates, although there is divergence on when that might happen analysts from Goldman Sachs, Bank of America and others. Say it's unlikely the fed will cut rates this summer will hear more from fed chair Jerome Powell on Wednesday after the fed concludes its meeting California utility PG and E will pay over a dozen cities counties and agencies one billion dollars in compensation for losses from deadly wildfire sparked by its equipment. The utility filed for bankruptcy protection in January estimating, it could face more than thirty billion dollars in potential liability costs from fires in two thousand seventeen. Eighteen and twenty eighteen and the Wall Street Journal reports that CBS is planning to make an offer for Viacom in what would be third attempt to recombine the company's still the journal reports that a deal would face challenges, including determining the price for a stock transaction as well as selecting a new leadership team. For more details had to our website wsJcom or the WSJ app.
Wash the blueberries
"Hey listeners what if you could spend less time juggling email meetings and status updates and more time doing the work that matters most to your team whether you're planning your next marketing campaign or launching new products. Asana reduces the busy work that wastes time and ASANA gives teams clarity. So they'll understand their plans and goals and how they will achieve them together. Visit ASANA DOT COM to try it for free that's A. S. A. N. A. DOT COM. Women's voices are having a moment and Iheartradio's got its first podcast about how we talk called permission to speak with me Samara Bay. I'm a speech coach. Who's worked with women running for Congress and entrepreneurs and movie stars on how to be heard in the moments that matter and this podcast is where I get to bring the conversation to you. Listen to permission to speak on the iheartradio APP apple podcasts. Or wherever you get your podcast. Welcome to before breakfast. A production of iheartradio. Good Morning. This is Laura. Welcome to the before breakfast podcast. Today's tip is to make your resources usable immediately. Do Whatever prep-work is necessary right away. So your resources can provide the value intending when you sought them out in other words. Wash the blueberries as soon as you get home from the grocery store. Perhaps you've noticed this same phenomenon that I have in my house. If we wash the blueberries as soon as we buy them and put them in an easily accessible bowl they get eaten. If we just shove them in the fridge door well. They often wind up spoiled and have to be thrown away. Now if you think about it this doesn't make a whole lot of sense. It doesn't take much time to pull out a handful of blueberries from Joran washed them. But somehow these extra steps become barriers to enjoying them just as a whole carrot seems much more intimidating to wash peel and slice versus grabbing a baby carrot or pre cut carrot stick said knowing this about ourselves we can commit to doing a little bit of prep work upfront or to spending the cash to have someone else do it. All were thinking about it with any resource build this prep-work into the acquisition step. While this does take a bit of extra effort it can be the difference between purchase being used and enjoyed or the purchase being completely wasted. There are lots of applications to this tip when you get new clothes. Cut off the tags Washer. Iron them if you need to and if there's something that needs to be altered ticket detailer right away. There is never going to be a better time to do this. Indeed wants your pants. Sit in the closet for a while. They're just going to become part of the scenery better to consider the trip to the Taylor to be part in the shopping experience. Seal actually get to wear your pants. The same thing goes for services you seek out if you upgrade your arm system so that you can get alerts when the front porch cameras triggered invest the five minutes to set up the alerts as soon as the installation has done. If it's worth paying the extra money for the service it's worth investing the time so that you can actually use it if you don't. The money is wasted. I see this issue. All the time with staffing an unfortunate number of organizations are terrible at on boarding new employees. What happens well? You've got a heavy workload so you feel like you urgently need to hire new staff but once the new people show up at work the workload feels too heavy for you to spend the time training them. They Waste Time. And you still feel overwhelmed. But if you wash the blueberries in this instance or actually plan out your new employees first. Few days with every hour give an objective. Well in both cases you'll actually get the value you are seeking in the first place and that is a huge win so when would you benefit from a little bit of prep work? What small investment of time can you make today to make life work better? In the meantime this is Laura. Thanks for listening. And here's to making the most of our time. Hey everybody I'd love to hear from you. You can send me your tips your questions or anything else. Just connect with me on twitter facebook and Instagram at before breakfast pot. That's be the number four then. Breakfast P O d you can also shoot me an email at before breakfast podcasts at I heart media DOT COM. That before breakfast is spelled out with all the letters. Thanks so much. I look forward to staying in touch before. Breakfast is a production of iheartradio for more podcasts. From iheartradio visit the iheartradio APP apple podcasts. Or wherever you listen to your favorite shows support for before breakfast comes from T. mobile for business. Five G. will revolutionize the way we work but it only matters to your business if it works where you t mobile has invested. Nearly thirty billion dollars in their advanced network to drive true workforce mobility no matter the size of your business. T MOBILE FOR BUSINESS IS HERE TO CHANGE THE WAY. Your Business moves businesses changing. Are you with us? More at T. MOBILE FOR BUSINESS DOT COM. Do you votes d like big boats? Do you like poor people. In the rich people. They serve on big boats. Are you always like look? Goes ON BELOW DECK? Hi this is Anna hosting and Nick Turner the hosted deck heads. And we want to take you on a fun and goofy adventure in this style. Podcast we will watch and recap every episode of Bravo's below deck and all of its spinoffs. And we're going to release an episode a day so you can watch along with us and listen to our silly daily recaps. Listen to deck heads on the iheartradio APP apple podcasts over every year. Get Your podcasts.
Nestl Discovers Natural Way to Sweeten Chocolate without Sugar
"<music> from wondering I'm David Brown and this is business wars daily on this Tuesday July twenty third great to have you with us again. Nestle's latest move is pretty sweet. The multibillion dollar food giant just announced that it's come up with a brand new way to make chocolate without. Without adding any refined sugar the new method requires no artificial sweeteners either instead Nestle has patented a process for using the Paul of the coca fruit to replace sugar in its chocolate recipes. The company says this pulp which is typically thrown away is naturally sweet nestle. Will I use the new method produce seventy percent dark chocolate and will introduce it in Kit Kat bars distributed in Japan other countries and probably other chocolate varieties will likely follow millions means of us are avoiding sugar these days especially refined sugar which gives some insight into why Nestle decided to emphasize the new ingredients sweetening qualities but industry publication food dive says the real innovation here is sustainability. Nestle says the new process allows it to US thirty one percent of the cocoa fruit up from only twenty two percent with traditional processes. That's an even bigger deal than it sounds like because climate change is threatening the cocoa supply last year chocolate makers Nestle Hershey Mars and several others pledged to introduce more sustainable practices at the same time that the supplies being threatened our appetite for chocolate has never been higher. We're buying dark premium and sugarless varieties. Parties as fast as we can the U._S.. Chocolate market is predicted to be worth more than thirty billion dollars by twenty twenty one. That's up from twenty two billion just a few years ago all of that plus consumers demand for more natural healthy ingredients audience explains why using more of the cocoa fruit is such a shrewd step for Nestle food dive says Nestle could potentially save money this way to by using more of the fruit it may need fewer cocoa beans to make the same amount of chocolate nestle isn't alone and its effort to more sustainably sweetened its business mammoth packaged food company Mandalay international which owns the cadbury brand of chocolates is dreaming up innovations in cocoa fruit to and where the giants go the rest of the pack.
Monitor Show 01:00 06-26-2020 01:00
"Hi. This is Jay Farner. CEO Rocket Mortgage, making the right financial decisions has never been more important. We can help guide you to those right decisions now when they matter most mortgage rates are near historic lows so when you call eight three three eight rocket, or visit us at rocket mortgage dot com to start your refinance. You'll be well on your way to saving money every month. The rate today on our thirty year fixed rate mortgage is three point three seven five percents APR three point five nine percent right now could be a great time for you. You to take some positive financial steps forward with a cash out, refinance from rocket mortgage, which could give you the boost that you're looking for. In addition, we may be able to help you refinance with little or no out of pocket costs at rocket mortgage were committed to every client every time, no exceptions, no excuses giving you the best mortgage experience. Call us today at eight, three, three eight rocket, or go to rocketmortgage DOT COM to learn more rates subject to change one point eight seven five percents discounted rate, cost, information and conditions equal housing lender. And MLS NUMBER THIRTY THIRTY BILLION DOLLARS IN LOSSES ON SOURED LOANS AMID pandemic virus cases go a one point. Two million in Brazil as the president says he has had the disease, and Liverpool clinches the premiership after thirty years I'm deanne guarantees with World News UK coproduction drops ninety five percent in May as the top British brexit negotiates rejects any compromise on the EU trade deal. Chancellor response back speaks to Berg later. That's all straight ahead on Bloomberg. Daybreak Europe on D., a digital radio London Bloomberg, eleven three, Oh New, York Bloomberg Ninety. Nine one Washington DC, Bloomberg one zero six one. Boston Clint back nine sixty San Francisco.
The Company That Sparked a California Wildfire a Day
"This episode of the journal is brought to you by linked in jobs linked in users their knowledge of people's soft skills aunt hard skills to match your job listing to the most relevant qualified candidates to get fifty dollars off your first job post go to linked in dot com slash the journal terms and conditions apply over the last few years a series of deadly fires have swept through california last year a wildfire in paradise was the state's deadliest killed eighty five people the culprit there is the power company p genie it's the biggest electric utility in the state in its aging power lines sparked these fires wildfire season is here again in pg any equipment is still not up to date today on the show what went so wrong with p genie in what can the company due to stop the fire welcome to the journal i'm ryan canoe and i'm kate lima it's friday july miguel could you introduce yourself and say what you're title it sure miguel loose t o r md usa energy editor for the wall street journal gas electric oil yeah i i'm your guy the pg any origin story is fascinating first of all pg any was founded in nineteen o five in nineteen o five two companies that start in the nineteenth century one which was essentially a gas works the company that illuminated san francisco with gas lamps and out a company that was one of the first electric utilities and in the united states combined and foreign pg any by nineteen thirty essentially the only game in town in northern and central california it was in some ways kind of synonymous with california as pg any crew california group pg any operate one of the oldest high voltage transmission line networks in the world pg any built these enormous essentially extension cords if you will in those lines a in in many any cases were built in the nineteen ten's nineteen twenties nineteen thirties and they're still up and they're still up we have these companies all over the united states that are kind of relics of the early twentieth century tree in terms of being monopoly companies that had a clear reason for existing when they were created and they're still running much in the same way that they did when they were created and for a long time it seemed like that was okay it was handling its business this until it wasn't before we get to pg unease wildfire problems there was this other safety problem the rock the company in twenty ten ever again is extra san francisco this huge fire a gas line explosion sparks is massive blaze witnesses say look and sound like a bomb went off in forcing thousands of people there to run for their lived painting gas pipeline explosion in san bruno eight people died thirty eight homes were destroyed it was determined the cause of the explosion was a natural gas pipeline owned by pg any in that the pipeline which was built sometime around the nineteen fifties had been neglected had not been properly maintain it became clear that there was a broader threat then just be unfortunate circumstances in san bruno pg any had gas pipelines all over san francisco and many other cities area and there is concern the pg and he didn't seem to really have its act together so then do they start investing staying in their gas infrastructure yeah and and pg any its leadership with all focused on dealing with this natural gas issue sorting out the problems in its natural gas division replacing executives spending a lot of money on the pipes it's cetera insuring regulators that we've got her act together when lo and behold another crisis began to take foot california one of the largest economies in the world but it's deep in the grip of historic darrelle right now the entire state is in some form of drought loss angeles alone has seen just over an inch of rain since july it's only ten percent of what it normally get the former who owns the property told me that hit the bulldoze a lot of it's crop simply because there's not enough water the northern part of the state which traditionally has not been his dry as the southern part of the state essentially became a giant tinderbox has millions of trees literally millions of trees died if you have have a in a normal circumstance a power pole falls in a it falls in green lush grass or vegetation maybe it's causes a small for aspiring a few acres if you have a a a power pole like that that fails and in a line that hits the ground in a drought situation especially if there are strong winds causey enormous wildfire that can burn hundreds of houses and kill people power lines the the company had operate in a in literally in some cases for a century a with scant upgrades suddenly became a major risk what was the first big fire so the butte fire started in september of of twenty fifteen and what happened is that they pine tree hit eight electric line of pg unease andy electricity essentially ignited the tree and drop these embers in the dry grass and it sparked the fire it burns seventy thousand acres and nine hundred and twentyone buildings and two people died so that was the first real significant pg any sparked a fire of of the last few years what was pg any reaction to that at the time well i mean pg any reacted there is is you could imagine outcry about it and pressure in twenty sixteen pg any stepped up its clearance of dead trees on a one year blitz to try to deal that so so what happened after the fire so in twenty sixteen it was a relatively quiet year in california fires in pg any had voice some optimism that it was kind of starting to get the situation under control but you know quite frankly it was late the magnitude of the job clearing these millions of dead trees dealing with all these really old power lines who is something you weren't gonna be able to fix in a year in twenty seventeen fires return with a vengeance an an there is a whole spate of wildfires around california wine country in napa and sonoma counties not all of these fires turned out to have been sparked by pg any equipment but eighteen of them have been linked to pg any equipment officially by the state of california and those eighteen fires killed twenty two people it was a huge tragedy in california but it also began to raise questions about pg knees survival whether this company was actually gonna go broken now because as these fires began to mount the questions of liability began come out and then it happened again cal fire says his investigators determined the pg any equipment starting the fire at two separate locations those small fires then became one massive fire that swept across paradise and surrounding communities destroying nearly fourteen thousand homes destroyed most everything in its path wiping out the town of paradise killing eighty five people in burning a hundred and fifty three thousand acres the photographs of it are so memorable it's just all you see is the sort of ghost of the foundation and i remember these stories from the time of like people's tires melting on the asphalt it was it was chilling yeah i mean it it paradise to this day is almost resembles a moonscape it is a just a completely destroyed talent unfortunately and a the fire was overwhelming in its force and it's the deadliest fire in the history of california eighty five people dead for pg any of this wasn't a great escalation of the fire threat not only was utility equipment still causing fires even more people were dying as a result right so what is going on behind the scenes at pg any at this time the company tried to assure residents and other people at once again that it had things under control but i think it was clear that it did not have things under control in fact a this isn't amazing statistic pg and he was essentially sparking a fire a day in recent years most of those fires of course didn't amount to much but it's equipment will sparking fires at a rate of one a day that's insane how are they able to monitor this end what can they do better i i think as time has gone on has become clear that they are overwhelmed a in terms of trying to track their infrastructure age age of their infrastructure upgrades they have done over the many many decades they simply don't know they do not have a good record's of what they have and how old it is which greatly complicates the task of trying to figure out what's gonna break next sign one of your stories something crazy about this kind of analog system is the day you were using up until twenty fifteen yeah i mean one of the fascinating things that we learned through interviews and and going through public documents about p genie is that it said that it was still tracking some of its transmissions systems through maps it push patients that have had on walls in some of its offices and this is in twenty fifteen this is yes this is in the twenty first century 'em so it was operating in what you might call a nineteen fifties way a in many regards so what is pg needs response to this their response is essentially were working on it we acknowledge we have a problem were getting better were working on it but i think patience is running out today has few allies in regulators have really lost patience with the company and are contemplating extreme steps steps at this point including breaking up the company into gas and electric companies forcing a sale even potentially taking away it's monopoly license it's exclusive license to operate an out there's a ton of people suing pg any pretentious whole enormous number of of people suing pg any for damages in january of this year after the twentyeight november twenty eighteen campfire pg any realized that it had by its own estimate more than thirty billion dollars in liability costs that it was facing from these lawsuits that was more then the company was worth basically or the three times what the company was worth so it concluded had no option but to declare bankruptcy and try to sort out these affairs in a bankruptcy court is there a possibility that pg unease customers ended up having to pay the price for the fires themselves there's actually no doubt that there will be higher rates a deal the question is how high but pg customers will pay in some form for the company's debts okay so pg any is continuing to operate an at the same time they're trying to figure out what this bankruptcy could look like and that's one of the fascinating aspects of the story right if you have a bankruptcy of a regular company there are other people who provide the service it's not essential to the public good that this company continue operate when you have and utility goes bankrupt there's a lot of complicated questions at a court has to deal with and that other people have to deal if you gotta keep the lights on right you have to make sure that people get this essential service so the bankruptcies corrupt sees extremely complicated it could be a breakup of the company of some tiny could be a sale to another utility company or someone else who's deemed more trustworthy responsible and would deeper pockets or could be some combination of those things it could be a a break up a for example one one idea that's been floated by san francisco's at san francisco has discussed buying pg knees wires essentially taking over the electric grid within the city limits of san francisco so you may have parts of california say we just want out of pg we we wanna do our own thing and we we'd like to just by the portion of pg knee that's in our area and in goro way so here we are california has entered wildfire season again pgn is antiquated network still needs a ton of work what does this mean for people living in its service area right now one of the things if pg and he has started to do in and this is really unprecedented step in terms of the magnitude of of what p genie is doing but pg any ineffectively mission that it can't stop all the fires is preemptively turning off power in parts of california when conditions get really serious her other things happened it leads people to predicted there's a high fire risk pg and he's turning off the lights so they're turning off power the service their customers pay them for because they're afraid of causing more yeah essentially it's a desperation measure they can't afford to have their equipment caused any more fires and many people frankly are happy that they're doing it even though it raises public safety concerns on its own because of course if you have prolong power outages this could endanger certain people so pg unease engaged in a big public awareness campaign people prepare and take the necessary precautions here you have this company that is at the most dangerous point in terms of be environment that they're operating in a deeply precarious financial position how is this going the end i wouldn't begin hazard a guess how this is gonna end at this point but i think the questions are enormous you have a failing utility a monopoly that provides power to one in twenty americans that suddenly can't do so safely right that that's essentially what this comes down to and that has a serious financial troubles in questions about its financial future so what's the way forward i don't know the big question is is this company gonna survive is gonna still exist as a monopoly utility city in the way they did cincy early nineteen hundreds or is gonna be a major change we reached out to pg any end in a statement a spokesperson told us that the company is making fundamental changes it has new leadership across the organization it's upgraded its recordkeeping recently implemented new program to monitor fire risk a series of high definition photographs taken by drone or helicopter after the statement also said the p genie is most important responsibility is the safety of its customers and the community it serves end quote while we have made progress we have more work to do we'll be right back in this episode of the journal is brought to you by linked in jobs according to linked in every two seconds the site receives thirty five job applications so if you're looking to hire for your business linked in can help by posting your job in front of the most qualified candidates that's and that's based on both hard skills an soft skills things like collaboration work ethic end adaptability to get fifty dollars off your first job post go to linked in dot com slash the journal again that's linked in dot com slash the journal terms and conditions apply welcome back i'm ryan commutes now a word on the workplace i want to share a story about a telecom company in north carolina called bandwith inc the takes an interesting approach to managing employee vacations all of the company's seven hundred employees get about four weeks of vacation a year but when someone is on vacation are completely barred from doing any work they aren't even allowed to communicate with their colleagues at all they call it a vacation embargo work life balance is a good thing of course but there is another important reason for this policy i talked to david marking the company's ceo about why they do it if you're a leader in you are forced to go completely dark on vacation you make darn sure you're second in command knows their stuff i have to have someone ready to step up and do my job david morgan came up with this idea from his time in the marines where teams need to cover for each other they also need to be able to function without their leader it's it's a matter of survival in business here's what happens because obviously we don't have the same high stakes a leader will be inclined to exalt their own self importance and tell their subordinates hey save everything for me when i get back or i'm gonna be on the beach but i have my phone you're by just paying me escalate to me make sure if this customer comes inbound you let me know where we gotta make this decision just i'll break free to do that from the family ended it's ridiculous ridiculous instead of teaching and coaching junior folks to be able to step up to additional responsibility leaders tend to hoard they opportunity and it's wrong so you're the leader of this it's company how have you implemented this rule free yourself oh my goodness in in the early days ryan henry in my best friend business partner i'll i'll never forget it he's like you're nuts week you can't do this you can't go dark you can't be unavailable i'll send but somebody on horseback i'm like no just make whatever calls you gotta make make the decision that you should end if i come back in the building is burned to the ground that's the way it goes wow but that must take a lot of emotional strength on your part to just let their company go and put it into somebody else's hands ends in trust what they're gonna do the right thing is terrifying to imagine a mission critical strategic decision being made and you're absence but you know what when you give that decision to somebody else while you're gone they learn and they laid better i imagine it this also might create some kind of awkward moments potentially if you're a team leader and you have to make a decision who am i going to designate is my number two how did that play among groups you're putting your finger on any a huge issue leaders love not have to think about succession leaders love to avoid the hard question of who's and who's the leader if it's not you 'cause then you're gonna have to let the whole team know who it is and then the past i've had seasons where it's been easier and seasons when it's been harder i've got to determined on my own team among my direct reports right now while i'm gone for about fourteen days who will make these executive calls i would've made while here on deck and i'm in the midst of that and i know who it is and i'm after communicators the team and i'd be lying if i didn't tell you i had a bit of anxiety about it because i do there's this one moment david told me about from twenty eleven that'd be came legend around the company for just how seriously they take this rule just days before david was supposed to leave for vacation the company launched this new subsidiary it sold cell phones then right as he was about to leave for the trip the warehouse holding all the phones went bankrupt i'll never forget it i looked at my team at the time and said hey guys i'm going dark figure it out and guys got on planes that day rented vans an rented forklifts that day and moved pallets of phones from one warehouse partner the dysfunctional to one those operational an they rallied and there was no disruption and i had nothing so in other words it worked out it was fine exactly and what do you think is the big lesson from all this i mean is this something that you think that other companies should do are you do you continue to be happy with this role i am totally thrilled with the role because what it teaches teachers leaders is that you're first in primary mission is not the strategic plan you're executing that day week month quarter or here your primary responsibility as a leader is to cultivate leaders end for yourself to be true to our family and friends at you're committed to and both are possible the rule like this the journal is a co production of gimblett in the wall street journal are show is hosted
Closing Bell Brief for Tuesday, February 4th
"Wall Street Journal listeners. Come from all walks of life and business and no matter what type of business urine eighty P is here to help you achieve what you're working king for with. HR talent time benefits and payroll informed by data and designed for people learn more at design don ADP DOT com. Here's your closing bell brief for Tuesday February fourth. I'm Charlie Whelan in the newsroom of the Wall Street Journal in New York. The Dow Jones industrials. Austria's rose four hundred and ten points closing at twenty eight thousand eight. Oh nine the broader s and p five hundred was up about forty nine points and the Nasdaq gained one hundred ninety ninety four points closing at a record. High Tuesday's gains were fueled by investors betting that global growth will prove resilience. Despite the corona virus outbreak in China shares of ebay jumped nearly nine percent on a Wall Street Journal report that Intercontinental Exchange. That's the owner of the New York. Stock Exchange has made an offer to acquire the ECOMMERCE giant for more than thirty billion dollars. The companies aren't informal talks. And there's no guarantee ebay will agree to a deal at the market closed. macy's set set a plans to close one hundred and twenty-five department stores about a fifth of its total locations over the next three years it also plans to cut about two thousand jobs from its corporate and support staff shares rose three percent after hours trading and Tesla extended a rally that began last week with shares rising eighteen percent on Tuesday today. The stock got a boost of the end of January when the automaker reported record deliveries in the fourth quarter instead of plans to deliver more cars globally in twenty twenty. Today's market activity market analysis at wsj.com and the W._S._J. APP.
There's tons of money in venture capital, as long as you're a big company
"The. There's tons of money in venture capital right now as long as your company is already big from American public media. This is marketplace tech demystifying the digital economy. I'm Molly would. In two thousand eighteen venture capital firms invested an all time high amount of money in private companies a hundred and thirty billion dollars sounds like a thriving startup ecosystem. Right. But it's kind of like how the movie industry hit a new high in two thousand eighteen it happened because ticket prices were way higher and people paid more to go to a few big blockbusters same with venture capital firms invested way more money in. If you big blockbuster companies like one point three billion dollars in fortnight maker epic games. And of course, big investments in the so called unicorns companies with billion dollar valuations like Uber or Airbnb or Pinterest and all of this could be changing the landscape for smaller, startups, a founder, and a dream might find that it's harder to get in the door. Bobby Franklin is president and CEO of the national venture capital association. I asked him where all the money was going. We saw one hundred thirty point nine billion invested in twenty eighteen. But unicorns which are companies that are already valued at at least a billion dollars received more than a third of that some forty four and a half billion. And I guess that is the question is it a situation where the rich get richer? Are you seeing reduced investment in early stage companies or brand new startups? Unfortunately, we have seen a decline, particularly at that angel and seed stage level we've seen fewer companies get funded, and I think that's the concern that we all have but venture capitals, very resilient. And it also is very long-term. So whatever you see and one year statistics when you look at it over a ten year period, which is usually the life of venture capital fund. You start to see the ebbs and flows over the long haul. Is it possible that a large will occur when one of these big unicorns? You know, simply cannot return its value because we're seeing some really big valuations and companies. That don't necessarily have proven business models. Well, that's true. And we obviously see a lot of these larger companies that are we believe at least they're making all the signals like they may try to go onto the public markets in the coming year. Obviously, they can't do it right now with the government shutdown, which is problematic. But if some of those companies do make it into the public markets, and they have success in the public markets. I certainly think that's a good sign for everybody else. In the entrepreneurial ecosystem. I wish that we had a crystal ball to know whether or not we're at a new normal or whether we will see some cooling off in the overall amount of capital, Bobby Franklin is president and CEO of the national venture capital association. Now part of the reason for so many mega-deals in venture capitalists also competition from other kinds of investors. Like SoftBank the corporate venture fund out of Japan that has one hundred billion dollars to invest a reminder that the toy. Total US venture capital investment. Last year was one hundred and thirty billion dollars and other investment funds and firms that might have invested in public companies are now putting that money into big private companies because there are only about half the number of public companies as there were twenty years ago. And now for some related links out of that one hundred and thirty billion dollars invested in twenty eighteen about three and a half billion of it went to food and grocery delivery companies on Tuesday, former investment darling announced it's going under Muensri raised about one hundred and twenty five million dollars in funding. But if there's one business that just never seems to get cheaper and easier, it's delivery granted, San Francisco base montre was also making its food in house and sending out full meals, and then Uber eats and post mates door Nash came along and did the same thing. But from existing restaurants, so Montri going under isn't necessarily a sign that the food delivery of Huckle AP's is upon us. But there is shakeout happening. For example. I would not hold out a ton of hope for the huge wave of meal kits libary services like blue apron and hellofresh. Some of them are getting smart with specific diets like you can get paleo. Oh meals from sun basket, which is kind of cool. But remember when the New York Times announced a meal kit delivery service alongside this service called shaft now that was a bubble. Those times meal kits are gone now, by the way restaurant and grocery delivery are still chugging right along though. So I guess either you know, what you want to cook? Or you just want it done for you made. There's not that much in between. I'm Ali would. And that's marketplace tech. This is APN.
Work close to the bottom line
"Hey listeners, the best way to keep your fitness routine fresh is to try something new and the best way to keep track of the latest fitness is with the mind body APP. Mind Body connects you to a huge selection of local fitness classes plus salons, spas and more, and lets you find book and pay all in one place wherever you are on your path to wellness mind, body is right there with you. Download the APP today at mind, body DOT CO slash pod. What Made Vincent Van Gogh One of the greatest painters and most tortured souls of all time was Harry Houdini predestined to become the great escape. Artists based on his family's great escape. I'm Dr, Gail Saltz and on my new podcast personality. I'll be joined by amazing experts to delve into the minds of famous historical figures. If you want to know what really made exceptional, people tick, then take listen to personality. Find Personality on March ninth on the iheartradio APP on Apple podcasts or wherever you get your podcasts. Welcome to before breakfast a production of iheartradio. Good Morning. This is Laura. Welcome to the before breakfast podcast. Today's tip is to work close to the bottom line. When you're faced with multiple priorities in must determine where to direct your time. Focused on the tasks that will bring in revenue, boost, profits, or otherwise produce immediate benefits. These tasks will buy you space in the future for other things. Listeners often tell me that they have trouble figuring out what tasks to work on I. If your boss has given you. Assign moment and has said that that should be your top priority well great. But what if your boss has given you six projects well? Yes, you eventually need to work on all of them, but we never know when emergencies will arise if your office loses power at eleven am. You'll be better off having gotten to some of these tasks versus others. This is the genius of the rule to work close to the bottom line, particularly in a monetary context. When you look at your meeting schedule and see that a client wants to meet about, follow up work at the same time that normally have a weekly check in for an ongoing project. Well, maybe you can delegate the check in. The client meeting is more likely to boost revenue. Similarly if determined that you are overpaying for supplies, a few calls to negotiate, that should take precedence over cleaning out your inbox. Cutting. Costs boost profits again the bottom line. And you don't actually need to be pursuing profits per se to work close to the bottom line. Nonprofit organizations need higher revenue and lower costs like anyone else, so the same rules apply. Suppose you're fundraiser for a nonprofit and your boss has asked you to write a letter for the donor newsletter, and also to submit a grant proposal to a major foundation. That recently visited your organization. The grant proposal could result in significant funding for your organization. It's close to the bottom line. Is An article for the newsletter valuable Mo- probably, but its impact is less immediate unless direct, so unless you've been given explicit instructions otherwise better to handle the grant proposal I Then after that submitted, turn your attention to the article. The bottom line isn't always strictly monetary. Sometimes, it's an immediately valuable outcome of another sort. For example, you might be faced with doing reference checks for an applicant. Your organization wants to hire. This is the last step before making the offer and bringing the person on board. You may also need to develop goals than a dashboard for the upcoming quarter. Both are important for sure. But the reference checks pave the way for immediate concrete benefits namely lettering. You hire this person that you want to hire. All the goals and dashboard in myriad other tasks on your to do list. We'll have an impact over time. Bring on the new higher, and he can help you with those tasks so direct your attention there, i. And I know, it's satisfying to cross items off our to do lists, but the downside of this is, we can get just as big a hit from crossing off order new folders versus call old client. WHO's budget just doubled. But clearly not all tasks are of equal value. When you're deciding what to do. Think about dollars, an immediate impact, the sort that will open up space in the future. Over time working close to the bottom line means we make faster progress toward our own and our organization's goals. Because we're accomplishing what matters most? In the meantime. This Laura thanks for listening and here's to making the most of our time. Hey everybody I'd love to hear from you. You can send me your tips your questions or anything else. Just connect with me on twitter, facebook and Instagram at before breakfast pot. That's b. e, the number four then breakfast P O d. You can also shoot me an email at before. Breakfast podcasts at iheartmedia dot com that before breakfast is spelled out with all the letters. Thanks so much look forward to staying in touch. Before breakfast is a production of iheartradio. For more podcasts from iheartradio visit the iheartradio, APP, apple, podcasts or wherever you listen to your favorite shows. Support for before breakfast comes from t mobile for business. Five G. will revolutionize the way we work, but it only matters to your business if it works where you do. T mobile has invested nearly thirty billion dollars in their advanced network to drive true workforce mobility. No matter the size of your business t mobile for business is here to change the way your business moves businesses changing. Are you with US more at T. mobile for business. Dot Com Hey put on some Beatles. No, the stones how pot come on, you gotta play, Biggie maybe some Katy Perry Taylor. Swift. Come on, it might be time for another episode of arrivals. Rivals is a new podcast that explores famous music of the past and present. Join me Steven Hi. Meet Jordan run talk as we go blow by blow through the best music beefs, and then debate, who deserves the upper hand pick aside the best band win tune into rivals weekly podcast from iheartradio listen and follow rivals on the iheartradio APP apple podcasts or wherever you is in the podcast.
Markets Update: SPACs
"Welcome to our exchanges goldman-sachs markets update for Friday August seven each week we check him the leader across the firm to get his or her could take on what watching markets. I'm Jake siewert global head of qualifications here at the firm and today's guest is Olympia mcnerney, a member of the Equity Capital Markets Alternative Capital Markets in New York today we'll be talking about. That it's been much in the news backs and the flurry of interest we've seen recently in that Vehicle Olympia. Welcome to the program. Thanks for having me. So let's just basic definitional issue what is back and why are they all of a sudden on the rise? Yeah. Of course, I think this is a term that has changed in perception a lot over the years to levels at a stack stands for special purpose. Acquisition Corp and what that means is that effectively we raise capital for this stack and it's pool of capital that can be used to purchase a stake in a company and bring it public through a merger. I say it's changed a lot over the years east to be something that was used as a method of last resort for companies and fast forward to today stocks and I'll get into more detail have been. Increasingly popular in terms of an alternate way to bring companies into the public markets. Okay. So why exactly are getting so much attention right now and why are they seeing so much capital flow into them yet the great question. So let me just give me a little bit of context right now there are about one hundred plus stacks that are on the hunt for acquisitions and defray matt in terms of dollars. That's. About thirty billion dollars of capital on the hunt to bring companies into the public markets. Stacks typically have a little bit of a ratio leverage ratio in terms of how much capital they have relative to the size of the company that they buy. So that thirty billion of it is probably a hundred, fifty billion dollars market cap. That's facts are on the hunt for a very, very large number so you might ask you. Know, what's driving that? Why is that number? So big are the companies be or the backs going to be successful and I think what's really important to highlight and think about is at the profile of facts is really really changing not just over the last three years but we're seeing it even over the last six to twelve months that the types of sponsors is really high grading the other reason why I think. Stocks are getting a lot of attention or twofold one I think people are getting more and more comfortable with the economics of how this works. We can talk in a lot of detail around but promote the warrants, all kind of structural bells and whistles. But what I would say kind of at a high level today that stack economics are becoming more friendly, more friendly for companies that are considering merging, what's facts and more. Friendly Bastards. So the stack that they are willing to tweak promote has made the structure much war company and shareholder friendly the last and I would say that I think it's just become one more tool in the toolkit for companies thinking about ways to get public or sponsors that are thinking about how to monetize assets, and just like IPO drek listings there are pros and cons of the stack and in particular think. That really stand out are a potentially faster timelines VIP market, potentially more certainty around value at sooner point than an IPO and potentially more proceeds than an IPO could deliver. You know they're big fs to all of those but we're at a moment in time where the combination of a much higher quality group back sponsors and a potential set of solutions to accompany is making this product at a lot of attention right now. Let's dive a little deeper on the pros and cons. You outlined them. What's a general example of when a SPEC might be a good root for a company to raise money in the public markets? I? Mean you mentioned some of the benefits already and on the flip side when might a more traditional appeal make more sense? Yeah. That's a great question and were asked that all day long every day what I would. Say like great companies are going to have a lot of options and when we think about stacks, we're always thinking about it with the Lens of should this company belong in the public market so that to me is starting point number one is an IPO even on the table. I. Think there are kind of two buckets of companies that make a stack applicable. The first bucket is what I would call a very high. Growth Company that got a long term story that would benefit from some of the stack marketing, and so what I mean by that is the stack marketing is different than your traditional seventy-nine day IPO process. It really is a multi month's marketing period and uses forward projection that a proxy which were not able to do in an IPO s one, and so that is certainly beneficial for stories that are longer dated and where. Investors really frankly may require more diligence to get their arms around that longer term market opportunity whether it be the Tam whether it be the company's market share whether it be the company's technology etc, and so we're certainly seeing that right now with the proliferation of electric vehicle companies that are coming through stacks. So that's certainly one bucket. The bucket I would say that have been very successful with facts has been arm works. Whether it be industrial consumer healthcare oriented business that is free cash flowing, and that doesn't have a story that investors can get their arms around in the near term but we're a stacked might offer something slightly different than an IPO, and that's typically in the amount of proceeds that we can raise and so to give a little bit more detail on that when we think about A. Successful transaction for stack, we always include a pipe raids in that transaction. It's the validation that we require. Before we announce a merger publicly that investors like the deal and they like the valuation, and so you've got stack that's got cash and trust, and we bring to the table and also were able to deliver needs more proceeds to accompany then what might be available in an IPO. And so for that reason, if there's a company that perhaps is over leveraged back might bring that monetization or that public event for word more in the instance where a company may need its primary proceeds at a shareholder new want some instrumental secondary. There's a chance that a stack and deliver more proceeds in an IPO. So those are kind of two buckets that I would say are very general examples of what is working in stocks and the types of companies they're using stats right now versus a traditional. IPO tansel. The last part of your question, the IPO in our minds Zoe's you know a fantastic fantastic option for companies that want to get tablet, and so it's really back down to this kind of decisions of, is there anything that the staff is bringing in terms of value from the founder is our halo from the founder is at this marketing point is that this size and use of proceeds point that on the merging may benefit the company but I always come back to the starting point that whether. Or not it's got to be a great company that we think can get into the public markets or the super helpful. Olympia. So you're talking to a lot of clients. You said dialogue super active what it clydes think about the outlook for stocks through the rest of the year and do we think this is a trend that will continue even when markets are little less. Volatile yeah you know there's a lot of debate around the outlook. Is this a bubble is if a longer term phenomenon I would separate the outlook into two buckets. So one just the outlook in terms a stack issuance, it's going to be incredibly busy I think across the street there's a very large type line of incredibly high quality sponsors that are lining up to issues backs. Opportunity Sat and really believe in their ability to source companies and opportunities for their stacks. So very busy issuance outlook in terms of will this trend is accessible combinations. Continue might be the I think with this change in the quality of the sponsors that are out there i. do think that we are going to see a continued strong pace of business combinations with stacks and I think companies are evaluating their options and having more options for these companies is a good thing and I think there's just a backlog of companies that have been waiting and. Trying to get to the public markets and so having one more tool to get them out there will help continue the pace that we've seen a business combination. So my fear that it's going to continue obviously we need to see deals are working continue to trade. Well, if we have any kind of hiccup in the reception of these transactions I, think it will be a problem but overall I. Think one of the most important things in the maturation of this market, which is the fact that in usual investors today are embracing the products in a way that. They haven't historically our phones have been ringing off the hook from investors who want to understand how the process work, how does the structure were, and what are the types of companies that belong and I think the fact that we've got real institutions that are now looking at it, embracing it, and buying these vehicles and buying gills in the aftermarket has really changed the dynamic versus what we've seen over the last couple of years. So hopefully, that answers the question you know our expectations that the pace is certainly GonNa continue bit does indeed. All right. Well, thanks. For joining us today Olympia especially under extraordinary circumstances with your lack of power and all that. So thanks for taking the trouble to join us today course. Thanks for having me. That's all this week's markets update on exchanges of Goldman, Sachs, and in case you missed it, check out our other episode. This week was susie Shir of our investment banking division as well on how companies are meeting their financing needs. Thanks for listening and hope everyone has a safe and healthy weekend. This podcast was recorded on Friday August seven year, two thousand and twenty s for us. All, price references and market forecasts correspond to the date of this recording. This podcast should not be copied, distributed, published or reproduced in whole or in part the information contained in this podcast does not constitute research or recommendation from any Goldman Sachs entity to the listener 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 and respect of direct indirect or consequential. Loss or damage is expressly disclaimed the views expressed in this podcast or 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 Goldman Sachs entity.
Greet people with a smile
"Hey listeners wherever you are the mind body. App connects you to the best local wellness experiences. Where you can find? Great last minute deals on fitness classes and book right in the APP. Ever wanted to try hot yoga boxing or a high octane. Spin CLASS MIND. Body is were millions of people find thousands of classes to love and the only commitment is to yourself wherever you are mind body. Is there with you? Download the APP today and mind body dot I O. Slash pod. The future is closer than you think. And it all starts in the palm of your hand. You may have heard the news. Five G. is coming in this new IHEART series this time tomorrow presented by t mobile business. Join me as lotion and my cursed characterize as we walk you through the true revolution immobility. That will change the way we interact with the world around us. Join US here. Just how close we are getting to a more connected future. This time tomorrow is now available on the iheartradio APP. Or wherever you listen to podcasts. Welcome to before breakfast. Production of iheartradio. Good morning this is Laura. Welcome to the before breakfast podcast. Today's tip is to change the mood of everyone around you with a simple strategy. Greet people with the smile. I was reminded of this strategy recently while reading audrey monkeys book. Happy Campers Monkey is the director of the Gold Ero camp in California. The vast majority of children love summer camp and in the book. Happy Campers monkey explores the reasons for this. And how can transfer those lessons to normal home and work lights a key? Finding a good camp has relentlessly positive atmosphere. The counselors make every child Phil. Welcome positive. Peer interactions are encouraged. And yes the focus is on fun activities but even when people are making up their bunk beds the focus is on being upbeat. Not Olive Life can be sunshine and rainbows but monkey writes in her book. That being aware of your moods and making a commitment to small positive acts can go a long way. I can feel it when I sucked the fun out of the room for my family members because of my own bad food monkey rights conversely parents model positive emotions and interactions the majority of the time have kids who do the same. It starts with a simple smile. And maybe you're not a natural smiler but monkey says that's okay you can start the habit by giving your family members a smile at four specific times. I when you greet them in the morning to start the day second when you greet them after school or work or anytime after not seeing them for a while third during at least one conversation when you're looking them in the eyes and finally at bedtime when you took them in to say good night for smiles a day is not that tough add. Add that you can do this with other people in your life to if you're ordering coffee you're showing your bus pass to someone every morning. Be sure to smile as you're doing. So any regulars on your commute can be treated similarly the receptionist or security guard at your office deserves a big style rather than that hunkered down pained look some people have as if they're headed into labor and the salt mines for the day smiles. You say hello to your colleagues smile when you pay for your lunch in the cafeteria. You don't actually have to be in a good mood. This is a two second investment. In limiting the extent of whatever personal rain cloud is following you around. And you know what? There's always the chance that that two seconds smile will improve your mood to. There's some interesting research finding that when people are asked to hold a pen or a chopstick in their mouths in a way that forces their lips into a smile they actually do feel better and since a smile costs absolutely nothing. There's really no downside to giving it a try. So how will you make sure you give your force byles today? More is better but I'm pretty sure you can manage for in the meantime this is Laura. Thanks for listening. And here's to making the most of our time. Hey everybody I'd love to hear from you. You can send me your tips your questions or anything else. Just connect with me on twitter facebook and Instagram at before breakfast pot. That's b. e. The number four then breakfast p o d you can also shoot me an email at before breakfast podcasts at iheartmedia dot com that before breakfast spelled out with all the letters. Thanks so much. I look forward to staying in touch before. Breakfast is a production of iheartradio for more podcasts. From iheartradio visit the iheartradio APP apple podcasts. Or wherever you listen to your favorite shows support before breakfast comes from T. mobile for business. Five G. will revolutionize the way we work but it only matters to your business if it works where you do t. Mobile has invested nearly thirty billion dollars in their advanced network to drive. True workforce mobility no matter the size of your business. T MOBILE FOR BUSINESS IS HERE TO CHANGE THE WAY. Your Business moves businesses changing. Are you with us? More at T. MOBILE FOR BUSINESS DOT COM guys. It's bobby bones. I host Bobby Jones show and pretty much always sleep because wake up at three o'clock in the morning a couple of hours later I get all my friends together. We get into a room and we do a radio show. We are live. We tell our stories we try to find as much good in the world that we possibly can and we looked through the news of the day that you'll care about also your favorite country. Artists are always stopping by hang out and share their lives and music too so wake up with a bunch of my friends. I Ninety Eight Point Seven W. MC in Washington DC or wherever the rotates you on the iheartradio APP.
Have a default choice
"Hey listeners have you heard about Rossi's they're stylish sustainable comfortable washable really all in one pair of shoes. They're the perfect flats for life on the go. Trust me. I wear my linen double stitch flats everywhere. Route these coming in ever changing array of colors prints and patterns and they're available in a range of styles like sneakers loafers points and more plus it will blow your mind that they're made from re purposed plastic water bottles in fact. Rossi's has diverted over thirty five million water bottles from landfills already. Check out all the amazing styles available right now at Rossi's dot com slash breakfast go to rocky's dot com that's our ot H. Y. S. dot com slash breakfast to get your new favourite flats comfort style and sustainability. These are the shoes you've been waiting for head to Rossi's dot com slash breakfast today. I everyone I'm Katie. Couric here to let you know that my podcast next question with me. Katie couric is back for. Its second season. I'll be diving into some big issues like this country's devastating maternal mortality rate. The rise of astrology and a little thing called the presidential election listened to next question. It comes out every Thursday on the iheartradio APP apple podcasts. Or wherever you get your favorite shows. Welcome to before breakfast. A production of iheartradio. Good Morning. This is Laura. Welcome to the before breakfast podcast. Today's tip is to make default decisions so you can quickly navigate the problem of having too many choices. I know that having too many choices sounds like the definition of a first world problem there are plenty of people out there whose lives are constrained by restrictions. They didn't choose and who struggled to meet their basic needs. But I'm guessing this is not the situation facing many listeners. This podcast we often face the opposite problem. How do we navigate the myriad choices we encounter daily without feeling stressed or regretful? About our decisions well choice. Seems like a good thing. Too much of it can take a toll in his book. The paradox of choice psychologist berry shorts explains that people can feel anxious at the prospect of making a choice and overwhelmed by all the options. Then we can feel regretful of decisions as we recall the options given up. This is all made worse because we feel responsible for the outcome having made the choice ourselves. So what are we to do? Shorts recommends choosing when to choose as he puts it rather than investing time and energy in every decision. We face figure out which ones weren't thoughtful deliberations for everything else. Go with a default option. And maybe this sounds challenging but it turns out that if you are an upstanding citizen you've probably already got default rules for a lot of things. Shorts gives the example of wearing a seat belt or not cheating on your partner. These are in fact choices but there are good enough reasons not to seriously entertain the alternative. That most of us don't spend a whole lot of time thinking about it. Turns out you can also make default decisions on many other things even if the consequences aren't so dire and lots of people have heard about the example of President Obama wearing only gray or blue suits by eliminating insignificant choices. He could focus on more important things if the situation called for it he'd wear something else but there had to be a good reason. Likewise maybe you can set mealtime defaults Turkey sausage and fruit for breakfast a green vegetable every lunch and dinner no alcohol during the week. It's also a good idea to have a good restaurant or two for work lunches and dinners when someone suggests meeting for a meal. You know exactly where to take the person and you know exactly what to order of. Course if there's a reason to switch from the default you can if you're entertaining vegetarian. Client for instance best to go to a restaurant with more than one veggie option but having a default means you can focus on preparing for the meeting rather than choosing a restaurant and you can focus on the mealtime conversation rather than the menu like President Obama. You could also choose defaults getting dressed if you love fashion. That's wonderful but for those of us who just WANNA look put together. Socially appropriate figure out what works and go with that for a normal business attire workplace. For example your default outfit might be a dress shirt black pants and black dress shoes your weekend. Daytime default might be sweater jeans and slip on low. I are flats. You might only by black leggings or running shorts so that you don't have to think about whether the color of your bottom half looks ridiculous with your exercise. Top defaults can help with your schedule to if Friday night is always date night you can have a babysitter who is scheduled every week rather than having to find a babysitter. Each time you decide to go out and did you can have defaults for just about anything. I love this example from before breakfast. Listener Jennifer. I work on a college campus with lots of parking. Lots she writes over the years. I have needlessly spent time walking around searching for my car at the end of the day last year I decided to park in the same parking lot each and every day this way. I don't forget where my car is parked and I don't have to put a reminder in my phone or think of another way to remember where my car is that day. At the end of the day I walked from wherever I am on campus to my car in my parking lot. It has taken one decision of list of daily decisions and has limited my aimless walking all over campus to find my car. What default decisions have you made? Are there areas of your life? You might be able to streamline with a default decision. I'd love to hear about it. You can reach me at before breakfast podcasts. At IHEARTMEDIA DOT com. In the meantime this is Laura. Thanks for listening. And here's to making the most of our talking. Hey everybody I'd love to hear from you. You can send me your tips your questions or anything else. Just connect with me on twitter facebook and Instagram at before breakfast pot. That's be the number four then breakfast P. O. D. You can also shoot me an email at before breakfast podcasts at I heart media DOT COM. That before breakfast is spelled out with all the letters. Thanks so much. I look forward to staying in touch before. Breakfast is a production of iheartradio for more podcasts. From iheartradio visit the iheartradio APP apple podcasts. Or wherever you listen to your favorite shows support for before breakfast comes from T. mobile for business. Five G. will revolutionize the way we work but it only matters to your business if it works where you t mobile has invested. Nearly thirty billion dollars in their advanced network to drive true workforce mobility no matter the size of your business. T MOBILE FOR BUSINESS IS HERE TO CHANGE THE WAY. Your Business moves businesses changing. Are you with us? More at T. MOBILE FOR BUSINESS DOT COM. Women's voices are having a moment and Iheartradio's got its first podcast. Thout how we talk called permission to speak with me some RV. I'm a speech coach. Who's worked with women running for Congress and entrepreneurs and movie stars on how to be heard in the moments that matter and this podcast is where I get to bring the conversation to you. Listen to permission to speak on the iheartradio APP apple podcasts. Or wherever you get your podcasts.
"Singles day is arguably the most important e commerce sales day on the year, the man responsible at P pro to make sure that all those transactions can go through is Andrew weir and Andrew whereas the interim CTO at P pro, and he's actually the person who did a lot of the orchestration of people efforts for singles deck. So Andrew before we get started. What exactly is singles two singles day is the biggest retailing event anywhere in the world. And it's an event that was set up by Alibaba number of years ago, and they attempt to sell as many things as they possibly can within typically a twenty four hour period starting on November the eleventh each year this year. In fact, they alone gated it forty eight hours instead of twenty four just because in previous years they'd had such a big crush of sales all in that twenty four hour period. So this year it started slightly earlier midnight on. The end of November the tenth and then went through forty eight hours in services, the world's biggest ecommerce event. Absolutely. It's much bigger than a black Friday in the US is bigger than any other retail of anywhere in the world. What exactly did p produce to ensure that these transactions were going to work? Well, we handle launch ly- the European payments made to Alibaba through alipay answer for customers who would like to buy something on the Alibaba website or from the Alabama hap- when they come to pay if they choose eat pay is their method of payment, then those payments, typically would go through p pro systems in order to be processed so low we we obviously didn't handle all of those transactions that went through we handled the you a lot of the European payments that went through and so we had to make sure that all of our systems were. Easy to handle the peak in traffic that we expected which we've seen in previous years we had to make sure that all of our systems were thoroughly checked out beforehand because if we had an outage of our systems, it would have interrupted the flow of payments to Ellie baba, you mentioned that there is a great increase and the transactions that happen. What exactly does that increase? Look like how how drastic is a compared to like an average day of Ebro. Well, we we handle payments anyway. So it's not like it tripled or quadrupled. But it's still quite a big peak in a relatively short period of time. So for us it didn't use a great deal of system resources. But the peak was was pretty dramatic. When we looked at it on charts. We will monitoring it very closely. You know, we we were handling hundreds of transactions a second at one point. But that as I say that is normal for us. That's not a problem. And there were there were peaks at two particular times. One was right at the beginning of the event when they first kicked it off. So those were people shopping who are very eager to get the best bargains. And then again, there was a huge peak right at the very end of the event off to the forty hours when I guess a lot of people who relate who hadn't put their orders in decided they didn't want to miss out right at the very end. And then in the middle of Sunday evening in Chinese time. There was quite a big not not a not a massive peak. But there was a lot of transactions all happening at the same time. Yeah. It was an interesting distribution of of transactions throughout the whole day period. But as I say, it wasn't a problem for our systems when does planning for this event, Ashley start taking place. How far the future are you thinking about the singles day event? Yeah, we don't really start in September. So, you know, it's a couple of months that we're planning it. We have to make sure that vary. People in all supply chain are all ready. So we had to notify the data centers where we house our systems to be ready for a peak of traffic. We had to make sure that all of payment partners were ready. And they knew this was coming some some of them, you know, west surprised by it in previous years and didn't know what was going on. So we make sure we reach out to all of those people, and we make sure that they know what's coming, and we make sure that they're prepared. And we make sure for example, that data centre provider hasn't planned to do a whole lot of scheduled maintenance at that time or all of those sort of fairly boring things, but all of the things that have to happen in order to make sure that the event is seamless, and we don't have any problems and this year. Did you have any problems? We had no problems. No. It was the best year ever for us that the preparations worked really well. And we had people here in the office in Munich overseeing the systems for Mr. those forty eight hours when it was going on. And we. People locked in remotely we had a video conference going which I was on as well as another some other members of people leadership just to make sure everything was okay. And the the engineers who monitoring all the traffic new had everything they needed to be successful. So yeah, it was good. It was a good time. So enter you mentioned that there's a huge spike in traffic for this event. What kind of paint a methods are people using in Europe? So some of the top payment methods that we found were relevant during the alipay event were p twenty four ideal pay you direct pay Bank, contact Jarrah pay an EPS so all of those sore substantially increased volumes during the processing period and these role schemes that we contacted beforehand to make sure that they're ready for the event in terms of these in terms of these different a LTM's what kind of difference in volumes are. Talking about compared to like an average transaction. Do it varies typically probably a factor of three or four on normal for them, which is pretty significant. Yeah. I would say so for a Chinese shopping holiday that kinda crazy for western Europe. And what kind of actual financial volumes were talking about? Well, Allie baba mentioned in press releases that they had done over thirty billion dollars in forty eight hours, which was a about a thirty percent increase on the previous year for us in Europe. Obviously, it was a lot less than that. I think we transacted Neely a million transactions the total volume the value of those transactions was was quite a few million euro. So a small fraction of the total. But useful nonetheless for Alibaba absolute. All right. Well, Andrew thank you so much for joining today that was really informative and look forward to the next time. We sit down together. Thanks for listening to our singles day podcasts. If he would like some more information about singles day with some incredible figures, check out the link and are shown us and until next time.
Leave an encouraging sticky note
"With the capital one venture card you earn unlimited double miles on every purchase everyday and you can use those miles toward travel expenses like flights hotels rental cars and more just book and pay for your travel using your venture card and redeem your miles toward the cost capital one. What's in your wallet? Credit approval required capital one bank. Usa IN A. Hey It's Laura Wasser host of the all's fair podcast on iheartradio. I'm a family law turney. Which is really a euphemism for a divorce attorney. And I've been practicing for over twenty years. I've learned some very interesting things along the way and I can tell you that when dealing with matters of the heart rule seldom apply with advice and anecdotes from many of my friends. Some of whom may be celebrities as well as the best legal financial and mental health professionals. In the country our goal is to educate enlighten empower and entertain you on the way to a better understanding of how relationships work. Iheartradio is number one for podcasts. But don't take our word for it find all's fair with Laura Wasser on the iheartradio APP or wherever you get your podcasts. Welcome to before breakfast. A production of I hurt radio. Good morning this Laura. Welcome to the before breakfast podcast. Today's tip is about simple strategy. You can use to make the people in your life happier. Try leading encouraging sticky notes. Where they'll find them. I'm taking this idea like our recent tip to greet people with a smile from Audrey monkeys book. Happy Campers Monkey is a longtime camp director and her book asks the Question of why most kids love summer camp so much one answer the relentlessly positive atmosphere and the good news is that there are practical ways to recreate this positive atmosphere at work and at home. That's why monkey proposes what she calls the sticky notes solution e-right short positive messages on sticky notes to give the people. You care about a mental boost. If you've got kids for instance. They are prime targets for sticky notes. Monkey suggests thinking about something you appreciate about your kid. Let them know that you noticed. She says by mentioning this quality on a sticky note that you put on the bathroom mirror the no concise something like your great sense of humor makes my days happier or thank you for doing the dishes without being asked. I appreciate how you help. Our home runs smoothly as monkey observes. Kids often hear what they're doing wrong. This is simply to emphasize what they're doing right. Your spouse might appreciate what he or she is doing right being called us into as well leave a sticky note with A. Thank you message or something. More romantic on the bathroom mirror or somewhere else. You know your spouse will see it. The coffeemaker for instance if he or she is always the one making the morning. Putt or even his or her steering wheel another idea pick one of your favorite inspirational quotes and put it on a sticky note on your own or your kids bathroom mirror or the refrigerator monkey rights to gather you can think about a positive thought each time you see the sticky switch. The inspirations out from time to time and encourage your kids to share their own favorite quotes you can deploy the sticky notes solution with care at work as well if you're managing people you know that you should be generous with your praise and scheduled time for celebratory feedback. But sometimes it's hard to make the time to sit down with people to celebrate. What's going right in between such celebratory meetings? You could leave the occasional sticky note on a return document or printed up note from a happy client or even on the person's Desk Minton how pleased you are and call out with the person did well. Yes it's easy enough to send an email saying the same thing but we get lots of email stuff gets buried an actual newt. We'll get noticed. I really liked this idea. Sticky notes are cheap and they're physically small. Which means that even if you wanted to you couldn't write a novel on their their space for a few words but fortunately a few words is often all it takes to make someone's Day and if you have the power to make someone's day well. Why wouldn't you in the meantime? This is Laura? Thanks for listening. And here's to making the most of our time. Hey everybody I'd love to hear from you. You can send me your tips your questions or anything else. Just connect with me on twitter facebook and Instagram at before breakfast pot. That's be the number four then. Breakfast P O d you can also shoot me an email at before breakfast podcasts at iheartmedia dot com that before breakfast spelled out with all the letters. Thanks so much. Look forward to staying in touch before. Breakfast is a production of iheartradio for more podcasts. From iheartradio visit the iheartradio APP apple podcasts. Or wherever you listen to your favorite shows support for before breakfast comes from T. mobile for business. Five G. will revolutionize the way we work but it only matters to your business if it works where you do t. Mobile has invested nearly thirty billion dollars and their advanced network to true workforce mobility no matter the size of your business. T MOBILE FOR BUSINESS IS HERE TO CHANGE THE WAY. Your Business moves businesses changing. Are you with us? More at T. MOBILE FOR BUSINESS DOT COM. Hi Everyone I'm Brooke Burke I'm making King Advance and I'm sex and intimacy coach. Li La Ville and we have a podcast called intimate knowledge. That's what this show is about Zach sex but it's so much more than that. It's about the ups and downs near ship. Your sex life is about overcoming heartbreak and infidelity. It's about understanding intimacy. And what makes you happy? And it's about everything you want to know but you might be too embarrassed to ask. We're giving you intimate knowledge. Listen to intimate knowledge on iheartradio APP on Apple podcasts. Or wherever you get your podcasts find us.
Midday Brief for Monday, January 14th
"Uh-huh. I'm Jay are Waylon in the newsroom at the Wall Street Journal in New York William Barr, who was President Trump's nominee for attorney general will tell the Senate Judiciary committee during his confirmation hearing on Tuesday that it is as he puts it vitally important that special counsel. Robert Muller be allowed to complete his Russia investigation. Houston's George Bush continental airport closed the security checkpoint one of its terminals because it doesn't have enough TSA staff to work all the checkpoints TSA officers were among the four hundred and twenty thousand central government employees still working but not receiving pay during the twenty three day old partial federal government shutdown. That's now the longest on record and the California based PG in e you Tilleke company plans to file for bankruptcy protection. By the end of the month as faces more than thirty billion dollars in potential liability costs related to its role and sparking Tober two thousand seventeen deadly wildfires. Investigators have determined that the utilities power lines sparked eighteen. Wildfires then and investigations are still underway as to whether their company's high voltage transmission lines. Also started last year's campfire which killed eighty six people in November. And it's the deadliest fire in California state history from more on these and other stories of the day, go to wsJcom or the WSJ app.
No Spin News Audio Excerpt, November 18, 2020
"Bill o'reilly welcome to the nose. Been news wednesday november eighteenth two thousand twenty stand up for your country and our lead story tonight. Is steve passer. I know what you're asking yourself. Who is steve passer. Well he's a very smart viewer of from saint louis and he's mad at me mad at your uncle correspondent all right. So let's get into it because it pertains to every one of us. So see vassar rights. O'reilly you're making excuses. You're saying that our election system can be blackmailed by threats. Violence from the left. Why do you think we seventy four million will find that acceptable. I'm not finding anything acceptable. And i'm not saying anything. I'm reporting steve. I'm reporting all right as i told you monday. It's my job to tell you the truth and i have. So what's is referring to. As i said in order for the election to be stayed or overturned by the supreme court you would have to have a very compelling amount of evidence that is visible to everyone. Can't be a theory campaign opinion. Can't be something like some observers. Were denied in philadelphia. Scott will rise to a very high level. Why because the supreme court justices are human beings. They know if they stay the election if they turn it around and president trump turns out to be the winner. There'll be violence in this country violence on the streets that will happen and the supreme court justices no it therefore to make that kind of a judgment. You would have to have incontrovertible proof that every american could see. I discussed this with sean hannity. Who's running down the litany of fraud accusations many of which are true. I don't believe there was an honest. Count countdown in philadelphia or detroit or milwaukee or clark. County las vegas. I don't believe there was an honest count. I don't believe there was an honest countdown in fulton county at atlanta georgia. I could be wrong but the evidence says there were illegalities. Irregularities took place but do they rise to the level of overturning an election. That's what the supreme court the only body only one who could stop this train and the train has to be stopped by december seven. Th when the votes are certified. So getting back to steve. Steve is mad at me for reporting that he thinks i'm advocating for the supreme joy. Court justices thinks that. I'm condoning if they voted against staying the election. And i'm not not doing any of that. I'm bringing you information. that's real. Think back how many people told you there was going to be a trump landslide. Think about it when you're listening to the radio watching television. How many people came on and told you trump's going to wayne win big right. I didn't say that i reported. It was gonna be very close. I also reported whoever wins. Pennsylvania becomes an expert of both of those things happen. All right. i went against many on the right. who were convinced it would be a landslide for donald trump. You are listening to a free excerpt from bill o'reilly dot com. No spin news broadcasts where you can actually see me. We'll be right back after this message. Well holidays are going to look different this year but paint your life has a way to make sure this holiday season feels just as meaningful as always paint your life offers hand painted portraits by world class artists of any photo of your choice. You can even combine different photos into one painting. The quality of these paintings is amazing. And it's quick easy and affordable for a unique and unforgettable gift. Please go to paint your life dot com at paint your life dot com. There is no risk. If you don't love the painting your money is refunded guaranteed and right now. We have a limited time offer. You can get twenty percents off your painting. That's right twenty percent off and free shipping to get this special offer text. The word no spin to sixty four thousand six four dash zero zero zero. That's no spin to sixty four thousand texts. No spin to sixty four thousand paint. Your life celebrate the moments that matter most andrew. Cuomo governor of new york giving himself a raise twenty five thousand bucks take him up to Two hundred fifty thousand a year. Well worth don't you think the new york state ready for this new york state owes let me let me get. Let me get the exact figure. Thirty billion dollars. Thirty billion dollars they. Oh never gonna pay it. Never charge as much could charge on hundred and fifty bucks to go over the george washington bridge. You're never gonna pay this but mogayon's himself a race You gotta love it right. You gotta love it. The state history november eighteenth. Nineteen seventy eight reverend. Jim jones guyana south america. mass suicide. remember the story. there's the creep already was in san francisco cold guy. Hundreds of people gathered him san francisco authorities going to charge him with a bunch of crimes is his way back in. Nineteen seventy eight. When there is actual law and order in san francisco. He flees the south america. Jones does all right. A congressman. Leo ryan from california comes to see what jones and his cult is doing down there and they shoot him dead all right the carson shot dead where pine the guy. And he's the thirties and the american authorities start to track what jones is doing. He leads his followers into a mass murder suicide. Nine hundred nine people drink poisoned kool aid. Nine hundred nine people if you don't know the story it's an amazing story. One of the first ones. I covered as journalist. I wasn't down there. But i was following it very closely forty two years ago today. The peoples temple. Mass suicide hang tough. And here's an announcement. The demand telemedicine grows so does the need for connectivity five g. meets that need qualcomm remains focused on giving doctors and patients superior five g connectivity. Learn more at qualcomm dot com slash invention age. All right so. I'm going to do a lot of charity work as i said over the holiday season. I'm starting today with a group. Called the military jehovah group now. This is a crew that makes coffee. I'm not a big coffee drinker. But i have a cup maybe wanted so. Fifty percent military java group profits go to the semper fi fund and they're the products the semper fi from fun helps vets who are catastrophically injured. Right supply all kinds of things to them. Is this a great charity. Separate five and these military guys military group located in henderson north carolina. And the guy who founded it matt phillips originally from williston park long island right near where. I am now and i want to help them. So you go to military javad group. One word java's jv a military jabber group dot com and get some coffee. Fifty percent of the profits. Go to simplify on. you can also order on amazon. So this is what i want this. Is you know we do it in a bill. O'reilly dot com store to you. Buy something we give you some free. We're not trying to gut you. Were trying to spread happiness joy. Tis the season. And i'm going to try to do this as much. I can in a final thought to promote good organizations. Were really trying to uplift the country. We all need to be lifted. final thought. See you tomorrow.
Relief Will End If Congress Can't Pass A Deal
"Hi this is bill calling from jonesboro arkansas. And i'm getting ready to ride my bike to the polls and vote and our local run off election. This podcast was recorded at twelve thirty pm. Eastern time on wednesday december second. Things may have changed by the time. You hear this. But i will have voted and ridden my bike back home. Here's the show elections. It never ends. Hey there it's the npr politics podcast. I must call holiday. I'm covering the joe biden transition. I'm clottey sunday. I cover congress. I'm scott horsely that covered the economy. So claudia we are now once again going to be talking about virus relief talks. I mean there's not a lot of time left on the clock for congress to act. We'll talk about this a bit but there are is really frankly like a severe economic cliff that a lot of people are facing if congress does not before the end of the year so yes. There's only a few days left for congress to be in session. They're scheduled to be here this week and again next week it's possible they will extend that if they don't reach a deal on this. They're also facing a fiscal cliff. The government's gonna run out of money on the eleventh. And so they need to fund the government again and one proposal is to try and get that covid relief attached to that bill. That all said the negotiations are ongoing. But there's only a few days left that we can tell that they can get this done in and this is really important to frankly millions of people. Because you've done some reporting on this you know. There are certainly relief packages whether we're talking about student. Loan debt relief Vic shin relief that is going to end by the end of the year. If congress doesn't do anything and we're in this really interesting point in the pandemic alive at the end of the tunnel. We've been getting this really encouraging a vaccine news which suggests the economy could be a much better place this spring or summer. But in the meantime we've got a really cold dark winter ahead of us and for a lot of people that could be a particularly perilous time especially the people who've lost their jobs and are not likely to get those jobs back Anytime in the immediate future there. Millions of americans who've been counting on emergency unemployment benefits that congress authorized back in the springtime and those benefits are due to run out the day after christmas. One of the people who's been counting on those benefits as analyst moncton. She lives in bangor maine And she's going to be in a world of hurt if that money runs out with with no help from congress. You're looking at families who are trying to teach their kids from home and feed them on for any little money and then are not are not going to have things like heat and here. That could be life threatening you know. We have seen job growth slowing every month since the middle of the summer. We're going to get the november jobs numbers on friday But just this morning we got a data on private payroll which was kind of disappointing Unemployment claims have been growing for the last couple of weeks. So it's it's really a perilous time right now and there really is economic incentive for congress to do something it's it's not just unemployment assistance. I mean you've been talking to people who are you gonna lose. Other potential benefits at the end of the year doesn't pass an additional stimulus bill. That's right there have been some protections for people who are renting and might be facing eviction those protections have not been perfect but they have helped stave stave fiction for for some families and and certainly putting people are apartments in the midst of a pandemic is not ideal for public health especially in the midst of the winner So there's that Student loan deferments or set to run out of these things were authorized by congress in the early weeks the pandemic when lawmakers really did move aggressively to to provide a support system for struggling americans The economy has recovered partway from that deep hole. We were in the springtime. But they're still a long way to go. And so you know. A lot of economists have been saying there's there's a need for lawmakers to extend those protections. Extend that lifeline for a few more months till we can get to that point where the vaccine is widely available and the economy can really open up again. Claudia given the economic picture. That scott's painting do you feel like there is increased bipartisan recognition of just how dire some people's economic situations are at this point. What scott's paintings a picture that's affecting millions of people and do you feel like there is recognition now from both republicans and democrats that they need to act quickly. most definitely there is that acknowledgement. That circumstances are getting more dire by the day. And i think this is why. We're seeing the largest bipartisan. Push on this. They're getting very concerned that they could leave for the holidays and leave all of these individuals hanging and so that is the threat that they are looking at right now. I'm hearing it from republicans who are taking to the senate floor justice week and democrats who i spoke to after this Unveiling of a bipartisan proposal. Yesterday who are really worried about leaving right now and not coming back until next year with no deal in hand and only these circumstances getting more dire by the day you ever junior senator. Mark warner who's one of the one of the Sort of centrist lawmakers behind that bipartisan proposal said yesterday it would be stupidity on steroids for lawmakers to to go home for christmas without taking action on this and yet for all the urgency that lawmakers have been giving lip service to. They don't seem really ready to make a deal. This is really frustrating for people. Like april kensington. She lives Near dayton ohio. She's also out of work. She's been scraping by on emergency unemployment benefits and it really bothers her to watch what's happening or what's not happening here in washington. I think normal people sitting here watching the television screen are pretty sick and tired of seeing both sides fighting over can arbitrary things when we're unable to make our car payments when we're unable to put food on the table it seems a lot like they're fighting over political staff when we just need to be able to feed our kids claudia. It feels like people that scott has been talking to are frustrated by the politics of this all and yet there are real economic concerns. That people have whether it's about unemployment assistance or evictions and do you have a sense that this bipartisan push on. The hill is a no realistic and be is it addressing things like the unemployment assistance or vic shins that are going to be very tangible. Prefer for people in just a few weeks. Yes this bipartisan. Move is definitely ramping. Up the pressure on leaders and although that proposal in particular is not expected to get very far it could feed into a final deal and that final deal will probably if it does happen have elements from republicans and democrats that do try and address some of these pieces for example. Republicans are very focused on this popular paycheck protection program to help small businesses. Meanwhile democrats are very focused on aid for state and local governments as well as addressing Aid and republicans are on board with that so there is some overlap and in order for them to reach a deal. My expectation is they do. We'll be addressing a lot of these dire concerns that we keep hearing about all right. Well let's talk more about the political dynamics of all of this after a quick break support for this podcast and the following message. Come from the annie e. casey foundation developing solutions to support strong families and communities to help ensure a brighter future for america's children. More information is available at eighty. Cf dot org. mitch. Mcconnell has spent decades making sure. There is more money in politics. Not less why we do it because we'd like to win but all along one person opposed him on this someone in his own party. There's too much money. Washing around in this money makes good people do bad things bad people do worse things mcconnell versus mccain on npr's embedded podcast and. We're back and claudia. Lot before the break about this bipartisan proposal. So why don't you help us understand. What are the realistic options on the table. Because this sounds like this. Bipartisan proposal doesn't really have the support of leadership. so are there alternatives. Yes so mcconnell. Soon after these soon after this group of partisan lawmakers pushed out there proposal mcconnell quickly said a few hours later that he was talking to his colleagues he was talking to the white house about a deal that president trump would sign so. That was the emphasis there. Let's not waste time here. in in terms of medicine projects is kind of how he framed. This bipartisan proposal. Let's look at what we can get through congress and signed by president trump and mcconnell framework. He released it yesterday. It's very similar to one That was released earlier this year. By mcconnell and other senate republicans it is a Roughly five hundred billion dollar program. It would direct about three hundred thirty billion dollars. Small businesses including the popular paycheck protection program a hundred and five billion dollars for schools and then thirty one billion dollars for vaccine distribution therapeutics medical supplies by comparison. When you look at this bipartisan proposal. That was a nine hundred and eight billion dollar deal so once again. We're looking at some significant gaps in terms of these proposals. If you want to kind of look at the broad buckets. I mean all. The proposals include some renewal of the paycheck protection program. Which is forgivable loans for small business All the proposals include a some extension of unemployment insurance. Although there's a as i said there's a wide range of how generous those proposals are the big thing that the democrats want that. The republicans are dug in against is aid to state and local governments. The big thing that republicans want that democrats aren't too crazy about is legal protection for businesses against covid related lawsuits and those broad outlines have been unchanged for months now those are sort of the positions that the various parties have staked out. The bipartisan plan was designed to give everybody a little of what they wanted and give nobody everything they wanted You've got the senate republicans in the white house more or less dug in where they've been all along and and we've got democrats At least saying what they've wanted all along although they are also talking about some new proposal which they haven't spelled out and we don't really know what's in that and how much ground they're willing to give an all of. This is happening at a really unusual moment. Which is congress's in this. Lame approaching this lame duck session and on top of it is happening during a presidential transition period. And you're you're in delaware yesterday where where we heard from the president-elect about what he wants to see that's right scott you know. He did stress the urgency of the moment right now the full congress you come together and pass a robust package for relief unit. He's he's talking about the fact that he wants congress to do something now but then he went on to say that anything that's passed during the lame duck session would be at best. Just a start and that he's actually already begun to instruct his transition team to work on for putting forward the proposals that they will put to the next congress around how to handle corona virus and economic relief and outlined a whole bunch of things he wants to see you know like expanded aid to states local municipalities. And you know when he was vice. President in the obama administration. Joe biden was famous or infamous depending on your point of view for striking kind of half. A loaf deals with With mitch mcconnell. Maybe this is his way of saying to democrats in congress. Let's take half a loaf. Now get something. And then when i'm in the white house we'll come back and take another swing at it. I will point out as of yesterday. Biden was asked if he's spoken with mitch mcconnell and he had not as of yesterday. Yesterday i spoke to senator. Chris coons a key biden ally here and he said he didn't sign onto the bipartisan proposal. For example because i didn't want to send the wrong signal that the new administration is on board but at the same time. He wants to be clear. This is the deal that has to be worked out in congress. And there's only one president at a time and they need to deal with the cards they were dealt and try to get something done with trump for now you know claudia. There are specific deadlines by which congress needs to act. So what are you watching for. So the next few days are going to be key The passage of a new government funding bill. That could have this covid relief. Bill attached is going to be something. I'm going to be watching very closely that needs to be done by december eleventh. We spoke to senator richard shelby yesterday. This is the chairman of the senate appropriations committee and he said if they don't reach some sort of overall funding deal. They may have to do a temporary. Stopgap measure by next wednesday and so the next few days are going to be critical if they can get on the same page when it comes to this relief and whether they can attach it to this overall funding measure all right. Well that is a wrap for today. Scott thank you as always for joining us on the pod. I must macauley cover the biden transition. I'm cloudy silas. Cover congress and thank you all for listening to the npr politics podcast.