35 Burst results for "Twelve Month"
Thousands of workers are literally stuck at sea
"The CEOS of some of the largest consumer products, companies, Unilever procter, and Gamble Johnson and Johnson are weighing in on what they say is a question of Human Rights on the high seas because of Corona virus measures some three, hundred thousand people who work on commercial vessels you know the kind that carry food and Health, and hygiene products among other things are stuck on their ships unable to leave governments around the world of closed ports, borders, and other travel facilities that allow crew changes and not being able to change crews on these ships is a problem for the health and safety of workers, as well as a pretty good way to clog up supply chains from Washington marketplace's Scott Tong, reports typically commercial ship workers signed contracts of six or ten or twelve months, and when that's up the ship swapped crews at the next port. But whenever they came near the boards, the poor is not allowing any Gano. Bronco Berlin is with the International Transport Workers Federation. He says some workers have been stuck on board for seventeen months in that some ports except products but not people in one case, several ports refuse to take the body of ship worker who died, and then we actually find the way that the body was taken in Singapore, and after fifteen days on board the ship, the issue over work crews is clogging up the supply chain. Tom. Dairy CEO of the Institute for Supply. Management says officials in places like Australia are now starting to ban improperly staff ships from sailing because we're seeing these ships were taken out of circulation as it were. We've seen rates for freight crossing the Pacific. Were than quadruple since June he says, delays are causing fridge and dishwasher shortages in the US and keeping goods moving is critical to the multinational firms that are now pressuring the UN to get involved. The group is the consumer goods forum. In Da Berge Array is director we call face the risk of global relations. Jing. Disrupted and all of this expense of Lucas wellbeing meantime the workers remain mostly invisible says Andrew. Kinsey is marine risk consultant at the user alliens when you go into a store and you look at items on the shelves, their way got to that shelf. Was via. As a consumer, we're blind to it but eighty percent of the goods in the world are delivered by see I'm Scott Tong for
ByteDance Says It Won. Trump Says Not So Fast. TikTok Continues For Now.
"Okay, here's what I can tell you. You can still use tiktok as of this moment president trump since we last spoke said he approved Oracle's bid for the US. Operations of tiktok quote in concept, and so essentially the US delayed the planned tick tock band by about a week as Oracle Walmart looked to take a twenty percent stake in Tiktok globals planned pre IPO round as well as of course, the deals to host talks us user data and computer systems quoting Bloomberg I approve the deal and concept trump told reporters Saturday as he left the White House for a campaign rally in Fayetteville north. Carolina if they get. It done. That's great. If they don't, that's okay too and quote the new company which will be called tiktok global has agreed to funnel five billion dollars in new tax dollars to the US and set up a new education fund which trump said would satisfy his demand that the government receive a payment from the deal quote they're going to be setting up a very large fund. He said that's their contribution that I've been asking for an quote Oracle plans to take a twelve point, five percent stake in the new tiktok level. While Walmart said, it has tentatively agreed to by seven point, five percent of the entity. Walmart's. Officer Doug Macmillan will serve on tiktok global's board of directors. The retailer said in a statement for of the five board seats will be filled by Americans according to the statement tic TACs. Owner Bite dance is seeking evaluation of sixty billion dollars for the APP, according to a person familiar with the matter Oracle and Walmart would pay a combined twelve billion dollars for their stakes. If they agreed to that asking price, the final valuation has not been set as the party's worked out the equity structure and measures data security. The person said terms are still in flux and the proposed valuation could still change and quote. Yet more about that flex in a second but more about that five billion dollar payment to the government. The president mentioned I. Guess That's the key money by another name that he was asking for all along except that seems to have come as news to at least most of the parties involved Oracle later confirmed it to a degree but quoting Dan primack on twitter. More about tiktok quote Payments Number One the Education Fund is not to fun trump's patriotic history project number two, the five billion dollar figure is not codified anywhere and no one expects it to be anywhere near that big number three, the five billion dollars to the Treasury is anticipated payroll taxes over an unspecified period. Of Time, there will be an education focused effort using tick tock short video format distribution tool, but there is no dollar amount tied to it with trump seeming to inflate the payroll tax figure with the Education Fund remember Tick Tock doesn't have five billion dollars at least not until its IPO wants to complete within twelve months and quote. So. Again has this all been Kabuki theatre make the president think he's getting his key money. Give a politically connected firm, a sweetheart deal, and even if the five billion dollars is really not going to be five billion dollars again, we have the president of the government forcing the investment of private property, giving it to favourite entity and essentially asking for a kickback exactly. What happens in Banana Republics Super? Oh and about that whole thing being inflex bite dance. This morning was asserting that it is maintaining majority ownership and control over tick tock global and will not transfer any source code or technology to Oracle or Walmart so essentially waving a flag saying they won. Quoting the Financial Times bite that set on money that it would maintain majority ownership and control of tiktok global contradicting statements by Donald trump oracle, and Walmart after it agreed a deal with the companies to continue operating in the US Oracle, the US technology group, and Walmart, the world's biggest bricks and mortar retailer said in a joint statement at the weekend that Tiktok level would be majority owned by American investors and quote however while they're state combined with the equity held by. Long standing US investors by dance might mean, American investors would be the biggest financial beneficiaries, direct majority ownership and control of the business is set to remain with the Chinese company in a statement released on January tat chow by dances Chinese social media platform. The company said tiktok global would be a quote one, hundred percent fully owned subsidiary. The company added that after raising funds ahead of a potential initial public offering, it would have an eighty percent stake in the company and quote. So maybe that wasn't a good thing to go spouting off about because this either means now the deal is really off. Because the Chinese side really doesn't want it or else the deal is off because the president isn't going to be pleased about that more in just one second or else everyone is just GonNa declare victory and. Meaningful has actually changed my money's on that but hard to tell at this point because to conclude. About thirty minutes ago. President trump. said, he would not approve a tick tock deal bite dance ceded control, and well I don't know.
With Jockstrap-Scented Candles, Babe Wine Wants to Bring the NFL Home
"Wouldn't want to spend twenty nine dollars on a candle that smells like a jockstrap well, plenty of people. But Hey, if that's your thing now you can babe wind. The official wine of the NFL has launched a line of Senate. Candles intended to bring the entire football experience including the locker room into your home. The twenty twenty NFL season kicked off last Thursday night, and with only a few exceptions, fans can't be there in person this year. So what better way to experience the joys of life football from the sweaty jock straps to the smell of overpriced eighteen dollar Nachos then to invest in Sports Senate Kennels at least. So goes the thinking of the marketing folks at bay wine babe is a can wine owned by anheuser Busch inbev parent company. Of Budweiser, when founder Josh Ostrovsky started the company back in Twenty fifteen it was his goal to make babe the bud light of the wine world know Somalia needed here guys behind the cheeky ads. Is a strategy intended to pump up online sales and the funny bones of Anheuser Busch's most coveted hard to win over market of millennials. As we've reported here before beer sales have been flat lining for some time younger drinkers in particular are increasingly turning the cocktails hard seltzer wine and wine spritzers although it's still the tiniest of all spirits, categories, sales of canned wine or bubbling over over the twelve months ending this June off premises canned wine sales grew by almost eighty percent according to Nielsen off premises. Sales are all those purchased outside bars and restaurants by the way clearly where all the action has been happening the last six months. All these stats are serious business for Babe wines huge parents searching as it is for ways to continue growing as its core product beer struggles. But let's go back to the locker room. Shall we examined the connection between Anheuser Busch's falling beer sales and candles that smell like musk and men's deodorant? Well, no one's buying the bud light of wine for the way it's grapes are grown now they're buying it 'cause babe wine is an instagram hit Ostrovsky is better known by his instagram handle the fat Jewish. He has ten million followers. The brand has one hundred, eighty thousand. So far Ostrovsky is nothing if not both funny and provocative, the brand partnered with dating out, bumble this summer to pay the moving costs to people sick of the X.'s they got stuck living with during the pandemic the two companies mocked up a bright pink truck emblazoned with the sign, your XS canceled babe and Bumbler here to help you move on literally. To enter the contest participants needed to what else tag themselves on the Instagram Post like the signature background in all of its ads, babes, stunts, or designed for instagram especially to attract younger women market anheuser-busch fervently wants to grow. If it's not obvious by now the candles themselves may makes some money. You can buy all three for sixty nine dollars, but they're primarily an attention getting device it to get you to stop scrolling in hit the buy button on a box of canned rose eh read or Pino Griego it's online marketing shrewd. You might say but it's not like babe wind has the wind can market to itself. There are at least one hundred brands of canned wine as makers scrambled to get a sip of this growing market while no single brand stands out as the most popular one that poses a challenge to babe wine is yes. Way Rosa like babe wine. Yes. Way Rosie was launched on Instagram in two thousand thirteen friends Eric Blumenthal and Nikki Hugo near started as an instagram account celebrating Rosie wine. Selling actual y came later the fashion editor and art director soon had a hit on their hands in twenty eighteen there bottled Rosa caught on at target just this year they began selling their grenache blandon Pastel pink cans. Yes Way Rosa doesn't have the NFL stamp of approval minds you but with almost no one in the stands that stadium branding is far less valuable than it would have been pre pandemic and that gives the women behind Guess Way Rosaiah a lot more runway. But they're going to have to come up with something pretty startling to steal attention back for turf, Nacho and. jockstrap scented candles.
Cyber Power Index highlighting Australian Governments gaps in cyber capability
"Like any INFO Technology Sector security has plenty of indexes flooding around or get. Indexes collided by vendors and people trying to sell things to us I thought this for Senate index was. Useful because it doesn't come from I accompany product. It say independent academic attempt to benchmark Com, sub security capability and intent from nation sites It appealed to make per couple of reasons may not have had A to do with Bill Center in the past spend a little bit of Thanh. Talking to their academics in previous roles and particularly locked the way that This report sets metrics that up designed to objectively major subsidy maturity in nations So it says what are the kind of things that we could judge the intent of a nation in the obscurity spice and one of the kind of things that we could use to objectively major capability. And it tells an interesting story in Australia Australia's categorized in the higher intent, low capability quadrant and the reason for that is because when the the objective metrics this reporter applied to the statements made by by government ministers by government departments, entities about what our intent is. Assab security spice. Where about the most ambitious nation in the world for ask security attend? But. Then when you look at what our actual capabilities against that intent on again measured in a series of objective metrics. We fold anti sixteenth in that space. So, FA May that told a pretty familiar story because this over promising on delivering stories. One that I think is familiar to a lot of. People in the Strand security sector. In the context of these trying government's actions since the twenty six, Day sub, security strategy. A lot of announcement to be my bet when you follow up way those announcements. In the years after that have been made you say less deleted then was announced to the media. Will what's on the industry? Kodak in the two thousand, sixteen strategy that was undefended at least out of the Prime Minister's office. This one is looking out at a ten years. The two thousand twenty strategy is looking at at the ten year timeframe. And proposing one point six, billion, dollar funding. Backdrop, but a lot of that is going into law enforcement and as you say might be into that capability. What's your take on the strategy itself? Overall as you say, it's it's another announcement is on the strategy whether it's not as another thing but certainly yet your thoughts on the strategy itself and where maybe else we could have been in twenty twenty from the twenty six danes strategies. Have you have you seen that the two thousand twenty strategy's building on the twenty, sixteen or? Taking a completely new direction. While the that, you can certainly say the why the two thousand twenty strategy is reaction to experience the twenty six strategy That the twenty sixteen subsequently strategy had a very large number of of objectives and Nisha announced under it. I think the government found the experience of trying to implement those very large number projected initiatives again, adopted under outcome Tambo's prime ministership around the breathing bruising exercise because the twenty twenty strategy dramatically rationalize is temptation I'm say that the broad spread of of initiatives and objectives under the strategy a kind of a toddler. Your decide that the Gospel confessed about ninety percent of the funding. Associated with these twenty twenty strategy he's allocated to security agencies So it goes into building. Capabilities with particularly the is day but also other security agencies on. Enforcement agencies like the the I pay, and that's well and good We have I think outstanding internationally recognized capabilities within is. and this is the conduct that you have to keep investing in order to. Maintain those capabilities in my time that that international ranking. Suppose big Criticism that that libraries had is one that we've been exploring for at the loss twelve months and that's really When you look at security policy to strike the problem is the ability to project those capabilities out of the silos of how defense and security agencies. To the problems in Australia Com in terms of lifting a bench, mock the baseline up security security. Brazil and Sada resilience across the Australian government trying economy You know there's a lot of examples of that. Wall is day is absolutely world standard. Saab resiliency combined entities is as at the government's own description reminding at relatively low levels. you know the is days top full became mandatory in the. Seventies ago now. had a slew of a straight national ordered office inquiry since then. when you type them all up on like twenty nine percent of Kamal entities compliant with all the top four. Seven years after theoretically became mandatory say interesting. Is Connect between very high capability. Inside Is Day lower levels of saga resilience and more broadly throughout government not to sign story that we see in the corporate sector unites now at banks and Al. Telcos, absolately will class intends to their sub security posture. But you only have to sort of take one stiff through the down. In the I six navy top fifty. And you start seeing. Very, different levels of resilience.
How To Consistently Reach Your Sales Quota
"What's up? Everybody Needs Kevin Daisy. So we are fairly new at sales as far as the station is concerned having professional. salespeople. We're about, I guess a year and a half into it I. It was Eric and I always sell in the business. then. We had a Glenn who came on about. Not, even a year and a half ago. Now, if our sales professional and we're looking to hire more so we're kind of quickly scale on this up. But we have a very basic system as far as what we're looking for. What the monthly quota is. An and they should be bringing in and it is super basic and as for me, it still works I know we might get more sophisticated as we grow in the teams grow and we have managers and things like that. But right now it's it's super basic. So interesting lay it out for you. and you can see how all this may be different than your model or if you don't have a model because you're disowned for yourself. something you can think about doing. SARS is very. Is. Five thousand dollars a month. In monthly reoccurring revenue. That's the theme here monthly reoccurring revenue five grand every month, not five gram once or twice or ten times, and then Kinda sit back. Five men every month. That's all we care about. We want those results. If you do the math on that, if you're GONNA do five grandmothers salesperson. Times twelve that sixty thousand dollars of monthly reoccurring revenue. So that means a month thirteen. We've collected sixty grand. From the clients that you've brought in as a salesperson here. At Mont Thirteen but take that that book of business. Times another twelve and that seven hundred, twenty, thousand dollars. So a very successful salesperson in their first year should be over half a million at least. And that's what looking at. That's the kind of success we need to grow this business. Now we do have ramp up period. said. You come on with us for as a salesperson which we're hiring right now as recording this for sales. There's a ramp up period so The first few months. Washington. The first four months or not one hundred percent of that. So we actually sort out with about a two week training period. A month is twenty, five percent of five grand, which is twelve fifty. Then he gets to fifty percent seventy percent and then the fourth full month. After a two week. Period you're expected to bring in five thousand in monthly recurring revenue. So right now, this is a very basic system and it works. We don't care about how many phone calls you made. We don't care about how emails you sent. I don't care if you want to network in meetings or not doesn't matter to me. It's. Can You bring in five thousand a month in New York consistently. And again, this reoccurring. So this is contacted. Using on twelve month. So, as predictable cash flow that we can count on for at least next year. So. That's really how we're building up our sales and growing the company. In if I can just hire another person and they can achieve that. Five thousand per month each. Then, we're in really good spot and we're growing very quickly. So. That's what we're trying to do again right now is very basic, but it works for us. We've had other people tell us different things and don't do like do it like this. Do like that. But for us is working out, well, we also pay salespeople a salary plus the commission net. And we do the life for that the life of the account. So. We've got a pretty good system going also the salespeople here they're not account managers. So they can build a book business and then keep building it not managing. There's accounts. Our operations team which according to the episode on that but. Operations seems takes over that relationship and the responsibility. So the salesperson continued yourself. Now, they can touch base and and reach out of the client of course, but it's not really the responsibility so. They Cabal. You know what you're tracking with sales was important for us the results, how much can you bring in per month and for us the minimum is five grand per month. And that's going to set us up for success. We were
Don't Let The Crisis Mask Your Real Issues
"Of what you think about the various actions taken by governments around the world in relation to this Kobe nineteen crisis, the economic impact is undeniable. Business closures, border closures. There are GONNA be businesses that will simply not survive this current crisis. That's undeniable. I can just see now that in another six months, three months, twelve months businesses are going to be saying it was because Covid I was okay until Cova was hanging in there until cove it. And to be clear what you tell people externally, I'm not so worried about but but I think it's important if you're one of the people running those businesses right now it's important that you don't kid yourself that you you were okay until Covid, it's important that you can yourself that you didn't have any other issues because there's a lot of businesses out there that are struggling and were struggling before coded before the current. Border closures before the various business restrictions and again what you tell people externally I don't think that's as important. But what you tell yourself, what you actually understanding except yourself I think is important because otherwise if you had issues pre-coded and you come out of this thing saying, well, you know I did a great job but it was covered then when you go onto your next venture when you go onto your next thing. You're going to have many of those same problems unless you are at least honest with yourself, and again, it's being honest with yourself. Nobody else needs to know it's just you. But don't let the current crisis and don't let the impact of his coun- Crisis Mosque from you the realities of what was working and what wasn't working in your business. Just the
Everyone is Cheating in Counter Strike
"Let's go over here to the scandal and drama going on here because it is not your typical cs topic a nude I feel like normally when we talk about Cs, it's happy thoughts. It's our feel-good place. We're talking tournaments we're talking big roster moves I thought this was behind us in the tier one scene. And it has been broken out like wildfire and it's definitely not the last of it where we are seeing coaches. Being banned left and right now with the scene. So to fill everyone in, the might not know there's a bug where there was a bug in the game that would allow a coach and correct me if I'm wrong here, newt, essentially the coach would sometimes like spawn in certain parts of the map and then could look around like three sixty see everything that's going on so that obviously the disadvantage or the advantage of this as you could see where the other team might be going and things like that. Correct. Basically. A Cypher Kim. Yeah right or South for ten. It's exactly like a cipher came from Valerie and yet it would spun you in a random spot. Sometimes, we saw happened in spawn so you can see what the opposing team was buying know which way they were splitting in how that would work. Sometimes, it was literally in the middle of the bombsite right and it just froze you overhead in gave you kind of full three, sixty view if you move your mouse around, you can see everything. Yeah and so it's been recently busted that a number of coaches have been taking advantage of this bug and now it's a hot topic. So let's just kind of. A go through this. So I guess the whole reason the started is zoo said peacemaker were the first to report the bug which has since been patched right. But then esl kind of started going back and like reviewing the tapes and films and things like that to see if anyone is taking advantage of this and now I will say this and I will give you credit specifically because you've said it multiple times on. The show if you don't think people have been and are still going to cheat in the online era of of e sports, you are ridiculously naive and I know a new you have said that in different words on the show before but now I I'm a believer I'm buying into your belief that of course, in one way or another, all these guys are going to find an edge whether that be cheating or not. Cheating is not only like aim hacking or wall hacking, right? Like that's speed hacking whatever the hacks that you see it's not just that that could easily pop up a twitch stream in have that on the monitor where they could be relayed information of economy. Right? You would know the economy, you will get a general idea of. You get a little bit more information than you obviously normally could. I'm. Not Saying it's. Everybody. Tries to find didn't edge. That's just the world of competitive sports whether it's traditional sport or needs for people try to find an edge in this seemed like one of the obvious ways it could be done now didn't help that counterstrike had a bug in the game that also allowed this to happen. Right. But at the end the day people knew it was their coach news, their players knew it was there and they allowed. It Tappan and they took advantage of it in man did we get a ton of evidence like on people take really I think we're just getting to the typically icebreaker I. think There is so much more floating down beneath that. We will get not even talking about tier two or tier three S. this was probably in occurrence in in most matches would be my guest but I think from even tier one we're really just. Starting to scope it out and find out what's happening. Stuff's even coming out today. Yeah. So some of the big ones here I think. From just a more recent standpoint, heroic the coach for heroic hundred. ENDED UP, getting busted for using it during the dream. Hack Masters Spring in ten rounds on one map. and. That's just what they've reported so far I can only imagine. He's done it then more reports on him now that also come out, it's happened more than as they're watching more film and again, these were just for esl sanctioned. Right so now you're having other organizations or other attorney or got. Going back and watching and reviewing their tapes right. So this is all just I mean it's just a giant web that's getting cast it out there now, people watching the film. So I just want to throw out this gentleman's name because he's really the one that kind of helped break everything by doing the legwork and that's meet you from ESL. Lewinsky might be pronouncing that right him in Steve doned went through fifteen hundred demos. It took them three weeks of basically each doing at twelve hours a day to go through all these demos to find stuff in I mean, look they. Not, only catching the ones that have just gotten band, but they're pushing more information out now for other demos at they're finding letting other event organizers know that, Hey, this was a bug. This is a timeframe has been going on in now we're seeing it from like what beyond the summit just came out and released their sanctions today. This is affecting road to Rio. Now because points situations have been messed up in. Teams have been eliminated that we'll talk about in a second but for heroic, it's a really big stain because they just came off of the win of Cologne people were looking at them and really a positive light right like that. Feel good time. Do you want to? Sets you WANNA know how fast life can come at you and edge if you go hundreds twitter account. His one, he has his two recent tweets. Heroic, second, best in the world two hundred has been suspected. He tweeted. Just like instantly he goes UA were second best in the world to I am now suspended like that's how fast life can hit you in this. In this world you've got a one year suspension right for for what he's done in. Again, there could be more coming down right like we haven't heard official rulings from valve yet on if they're going to take action on this or if they're just gonNa let the to's handle it. But yeah, the definitely be more I mean he he's getting a twelve month ban.
The Ancestors Are Plenty and Petty with Alexis P. Morgan
"Hello and welcome everyone to another episode of the Revolutionary Mystic? Podcast I'm your host. Mets Lee Alexandria. Joining me today. I have the privilege and honor of chatting with our guest Alexis P. Morgan. I am so stoked I can't even tell you. Just for reference right now were let's see. Moore in August twenty, twenty were stolen the middle of a pandemic and. Like. Alexis mentioned to me earlier. The world is like basically on fire and as a disabled person who is pretty homebound it is a very awesome opportunities today to get to chat with Alexis P. Morgan who I have a lot of in common with and like so much admiration for their work and I'm. Thrilled to get to connect with somebody who? You know understands and it's just it's refreshing. You know we live in a pretty abled world. We live in a pretty neuro typical focused were held. And so I'm really excited to get to talk to them and share their magic with you and. So rather been telling you all about who they are and what they do. I would love for you to hear it straight from them. Hi Alexis. Thank you so much for having me on. This is I think this is the first. PODCAST appearance I've done in a while. So that's exciting. So about Me I am twenty eight turning twenty, nine in a couple of months very exciting in the throes of the Saturn return which is. Home. I'm black and ice that I'm the child of indigenous mothers because my second adoptive parent, which is a story will get into in a second and I'll clarify what I mean by that. Is Indigenous and I'm still trying to figure out if my biological mother was truthful with my adoptive parents about my indigenous heritage, it's not one of those leg. My grandmother was like a such and such kind of situations It actually has to do with my paternal grandfather So you know we're figuring that out but in the mean time I say I'm a child of indigenous mothers to be really clear about a WHO I am in that regard m professionally, I am a writer, an artist and a sorceress. My pronouns are she heard they I identify as FAM- 'cause my gender is really weird and complicated. and has layers of Wu mixed into it too. So sometimes, it's just easier to be like yeah okay. This is folks do what they want and I'm also queer so and I have autism I was diagnosed at twenty seven which is funny because I studied autism for like four years in high. Slovenia with a thought that maybe I would have On something but Nah. but I did but I didn't. Add I'm also disabled I have a multiple sclerosis I was also diagnosed with Multiple Sclerosis at twenty seven. During my birthday month it was a very exciting bursting. That see in a nutshell. Wow. Yeah. I just want to say like I love. The amount of representation you're able to bring for folks I. I know when I hear you speaking about who you are I'm hearing things that I I can really to and I also have seen like out there in the world. I. Know isn't really being said, and one of them is that you mentioned about how? You like had been studying onto them for some time and like how did you not know well A for folks that don't know. Much about my professional history I was a social worker for a long time and I had a long like eleven year long career and towards the end I was a teacher for kids with autism and I loved it absolutely loved it felt super at home and just like you didn't reach diagnosis until I was around like twenty, seven, twenty, eight I, think. It's just kind of funny like how it works out that way you know Ray Lake and like I think my so it's funny 'cause like in my particular situation, my first set of adoptive parents. Okay. So let me back this trailer up a little bit. I was adopted twice I was adopted as an infant and I usually call that set of parents by foster parents because it helps make things less confusing to the wider world. And just because I usually don't have time to explain my family tree with the. Diagram. Like New People. So I was. Of Infant, and then I was adopted again as an adult adoption by my mom she is my mom. So when I usually when I say mom speaking of her and what I'm speaking of my adoptive parents who were a queer couple I was raised by White Lesbians, which is who boy that's a Latin to wrestle with in hindsight but. I'm usually not referring to them, but sometimes I'll slip and I'll just call the MOM and everybody gets real real confused because I got like twelve of them lying around it's great. Twelve months I mean but when I was a toddler, I showed some of the signs of A lot of lake professional clinicians would probably deemed autism
Sheryl Sandberg On Facebook and Elections
"Last week John spoke with Facebook Coo Sheryl Sandberg Zoom Call, and we've got their conversation for you as an extended show today. John Obviously people know Sandberg as Facebook, Coo. But what else should they know about her? She's very well known in the tech industry, but also in in circles of leadership in advocacy for women in leadership minorities, leadership But yeah, the most visible role she plays as the number two to mark facebook in that has been enrolled. That's been developing over more than a decade and prior to that, she was a in early employee at Google and played role in the Clinton administration as well. Of course, there's been a lot going on facebook and we've reported on it along the way, but they're kind of always as. So. Why talk to San Merck now it's been particularly busy summer and there was a lot to talk about on the call. You know you've had this advertising boycott. You've had a lot more questions about their willingness to police hate speech and and make sure that civil rights are being protected on the platform You've also had this run up to the election and a lot of focus on small business and what they can do during a pandemic both to stop the spread of misinformation and help small business stay afloat. Cheryl's also well known for her foundation Leinen, and at the time that we talked, it was a black women's payday and Kamala Harris had just been tapped as the vice presidential candidate for Joe Biden. Leinen had just done this study that pointed out some things that are fairly obvious. But maybe we didn't realize how cute the problems really are, and that was related to advancement opportunities for minority women in Business both leadership management opportunities just their ability to move forward in their careers. Here's what she told us the data's incredible right now, men are doing a lot to men are doing an average of fifty hours a week of childcare and housework. That's something. We've never ever seen before women doing an average of seventy one. And Black Women and women of color doing even more that GOP is twenty one hours and single mothers, many of whom are of color but single mothers of all backgrounds are doing twice as many hours per week caring for elderly or sick relatives as well and doing a great majority of childcare and we know that all of these numbers hit women who were core hit poor families harder than wealthier families across the board. But even amongst the elite, what you almost always see is the average woman even if she's working full-time is doing a lot more in the home than the average man and that is a big part of what happens to us in the workforce. Until we get to a quality in the home, we're never getting to a quality in the workplace and that has become even more urgent with coronavirus. These are all important issues to the Wall Street Journal, we cover these things all the time we've been covering them aggressively and comprehensively, but we could only manage to get so much in today's episode. So with the issue at hand is clearly. The election and facebook's huge role to play. They're given what happened in two, thousand, sixteen and expectations in the twenty twenty and that's the part of the conversation we wanted to share with listeners today. Thanks John. A couple of things. We should note here this was a video call. So it's got that feel to it and it was recorded last week we've got that conversation after the break. Robotics, artificial intelligence augmented reality. The future is here listen to tomorrow today with the Wall Street Journal's future of everything the podcast that takes you to the frontlines of science and tech and shows you what's coming next. Look ahead. What do you hear? The future of everything from the Wall Street Journal Subscribe Wherever you get your podcasts. I want to set the context of you know of the problems and our criticisms aimed at your company, not just Sheryl Sandberg the executive, but the user of facebook is well I I. I have to assume that you're not just running a company that you're using the product. The company faces a Lotta Chris the you know. The the frustration about incentivizing the you know spreading misinformation allegedly incentivizing that extremely provocative in hateful speech that that gets through and get seen sometimes gets pushed up in our news feeds. The suspicion facebook is still a place for unwholesome characters and actors can manipulate the system in use misinformation to get results that they're looking for etc.. Nah Not. Not so much yet about the solutions that you guys have put in place in the learnings but how do you feel today about facebook is a place against the backdrop of those criticisms so we do face a lot of those criticisms and anytime you have a platform as large as ours you know three billion plus people on it many many of them daily. We have huge responsibility. And I think that is a responsibility that we really had to grow into. When I look at this election, we are a different company than we were in twenty sixteen and we are going into this election in a very different place in touches on all of the issues that you you're talking about. So let's go back to answer your question to twenty sixteen if you think about the election in two, thousand sixteen. We obviously had systems in place to defend against attacks from other states. But what those normally or thought of what we thought of them I think everyone of them was. People with hacking steal your data, remember the DNC emails remember Sony. That was basically what state actors did, and we've had very good systems in place in great defenses there what we completely missed in two thousand sixteen was not going in and stealing your stuff. But was going in and writing stuff. Fake host trying to get audiences to believe things in ways that you were representing. That's what happened with Russian interference and we completely missed it. So did the FBI. So did every government of the world? That is just not true when you think about the election in twenty eighteen and you think about being election today. We now understand this threat and are deeply engaged in working on it, but we're also not on our own homeland security has a department on miss the FBI has a task force on this in two thousand sixteen we call these groups coordinated inauthentic behaviour. So coordinated authentic like we saw the Russian fake posts in twenty sixteen, we took down networks we'd never heard of it twenty seventeen we took down one. In. The last year we took down over fifty. We now do these. So often at people used to write stories, we've Allah publicly. No one even does does that mean we're going to catch every single thing I will never claim that we will always have every single thing the services big. But does that mean we're in a very different place going into this election Absolutely. And one retake really seriously. We're also trying to get even more proactive on the good like on facebook there's things they're stopping the bad stopping the hate stopping interference with there's also promoting the good at, and that's something that I care a lot about mark as a lot of Bob. So we want yesterday. So it's perfectly timely to talk to you about it, our new voter information center and what that Information Center is a one stop shop where you can go to get accurate information on this election. That's never been more important registering to vote who's eligible that stuff's always hard. But in this election with corona virus and holes potentially closed getting accurate information is even more important. So We'd put this out. It's modeled on our coronavirus center where we put out very definitive information really helped people get the right answers. Now anytime people post about voting on facebook working a link to this center. We're also trying to be as ambitious as we can. I'm a woman I'm I'm owning the word ambitious, but it's ambition by my company. To Register people. So in the last two elections, we registered two million people to vote. which is very large, but we've put out pretty audacious goal that we're GONNA try to help register four million people for this election cycle, which I think would make it the largest effort of its kind by were invasion and were really. We're really proud of that really excited about it. So we I sit here John Taking, you take the criticism when we deserve it very seriously. We take our responsibility very seriously atop to show work every day trying to stop anything bad we gotTA learn quickly bad will always try to get ahead but also trying to use our platform in our services for the good. What do you do as the user? Something on facebook doesn't along there. Do you just pull the red phone out and make a phone call or are you pensive about that and thinking about emits broader context at it needs the nuance as market said it's very hard. To directly police the content and and just hit the button? Yes. So look it is hard to directly police the content. We know that it's very hard to pull heat down. It's very hard to find it and identified. That's why we've invested so much think our standards are the highest not the lowest I think our enforcements the best, but that doesn't make it perfect. You know as a user I actually don't remember seeing something that violated our policies and most people have not most people hear about it or it gets pulled into press and they see it now. I've certainly seen things I. Disagree with I have some family members whose political views I do not share. You know I have some ice stuff about fuck I disagree with. But in terms of my actual experience of seeing real hate yes I would pull I. Don't have a bat phone, but I would definitely take a screen shot in forwarded. Personally, referred infant I haven't had that experience or know how many people actually do see content that violates the rules is there a way to kind of measure that? Millions of people report content millions of not not all of it is actually violated with our standards but millions of people go through that process. In fact, we released our latest community standards enforcement report, and it gets to exactly what you're asking what that shows. Is All the different kinds of content we take down how much? How much violence? Were Nagasaki and it shows what percentage of it. We took down and found ourselves or someone reported to us. And that's where the progress on hate I think really becomes clear when we first did this report years ago, twenty, four percent of the hate we took down, we found ourselves which meant that seventy, six percent of the time someone had reported it to us. That's not a good experience. Our latest report we put out this week were at ninety, five, ninety, five percent of the hate that we take down we are finding before it's reported. That means five percent of what we take down is still being reported to us, which is still alive on facebook. So we have our work cut out for us, but clearly a significant improvement over twenty four percent just a few years ago and it to really the investments we've made in systems in AI in. Huge teams to monitor that's gotten us. There are your standards tough. Enough I mean that's something that we know is a sticky situation because everybody wants what they find to be offensive police in. As you said, sometimes it borders on my own bias is what I don't WanNa see. But when you look at the standards, where are you guys at particularly because they have in freshly criticized and there's rolling dialogue about whether whether you're going to get tougher? Where are we met? Her students are very tough but they're not as tough as some people would want them to be or they're not as comprehensive as some people would want them to be you know one person's opinion. One person's free expression could be another person's he. We work really hard on these definitions and were very public about the our entire standards are publicly out there including most to the material that the people who use inside their references that were very public about them. You know for the most part, we've always been a very protected society and the criticism has always been on both sides I'll give you an example that was very hot for a while was breastfeeding. We don't do pornography, we don't do breasts. In some parts of the world, a new woman who's naked from the top would be on the front page of every newspaper, and there are people that really believe in breastfeeding. It felt that we were suppressing their free speech because our computer systems were picking up any time. You saw a nipple of any kind even if it was a breastfeeding picture so we've worked more nuance there, but I think over the course of time, people have found us to be very strict on the standards. There are people out there that think are hit standards aren't strong enough. We are continually evaluating them continually making improvements. But I think a lot of people think our standards are too hard and so we try to be as transparent as possible. We try to evolve to meet ongoing things that are things. We'd never heard of no one ever heard of years ago. That are brand new movements that are hateful and there are things that some people find offensive that we do leave up because we think three expression in having that too is critically important in a lot of situations sodden. You're thinking on your role as an information broker during corona virus. How did that? I emerge and how did you deal with that at facebook given? All of the things that the most elite elite medical personnel don't know in yet. Here you are with the responsibility of not disseminating misinformation that may cost people's lives or fan pandemic. So our policy on misinformation is we don't take down we send it to third party fact checkers if it's marked as false or partially false, we dramatically decrease the distribution we market this has been marked false or partially falls and we linked to more information that often can tell the whole side of the story. Even, before Corona virus, we had an exception to that, which is information that was going to cause imminent harm and that policy really came out of other parts of the world. Misinformation was leading to death or imminent harm. The Corona virus we took the stand to things we said we're not going to have information that will lead to imminent harm. And we're going to rely on health experts. We are not decided there was no decision made by your marker anyone on our team. This is true about coronavirus and this is not because we're not experts but we partnered from the beginning with local health authorities the CDC the. H. Show the you know the health ministers in different countries to make sure that we were taking down misinformation. No matter who posted it up would also give very accurate information out and I think sometimes in these discussions, we forget that there are two sides. Of course, we need to take down at least marcus false things that are harmful, but we also have to use our services. To, get out the information people need. So governments like the UK, government local governments when they needed to get messages to their citizens, they've turned on us and we've been I think a very effective way of getting messages out. Interested. In in several high profile advertisers including some that I shot from it said, we're gonNA take a break and it wasn't just facebook it with social media have companies come back and what what are those conversations and like I know. The effect on the bottom line may not be what well understood you do rely. So heavily on smaller and middle sized companies for revenue but but it was a huge moment, a big headline where where are you guys at conversations are they back? So advertisers are starting to come back not but a good number are coming back have come back in process. Look those conversations were really hard John because normally. If someone is boycotting you or is protesting you want you to do a whatever a is in. You don't want to do it. That's not the case at all here the boycotters and the advertisers didn't want hate on facebook and we don't want this book Sosa. I think we had completely aligned goals and we have challenges in enforcing that. So again, we just released our enforcement report. We were at eighty nine percent of finding hate we take down ourselves. Now we're up to ninety five. That's an improvement and we know we have we have further to go. We also do have some notice agreement with people on what hate is we tend to take a broader swath of allowing some information that we think it's free expression to stay on so that people can have dialogue but in terms of hate, I think the real issue is that there's a fundamental misunderstanding of our service out there that we need to do a better job correcting we don't want. Hey. We don't benefit from hey, we don't profit from hey users don't want to see it. Consumers don't WANNA. See it. Advertisers don't want to be next to it. So the the narrative of facebook is leaving pay because they WANNA profit for. That's just just you talked about voters earlier and the initiatives that you're putting your proactively being part of a solution is what I hear you saying. But Marquez said very recently with this electric this unprecedented situation and I'm I'm guessing given your. Your half glass full mentality it's an opportunity but what's at stake here for facebook I? Mean we're all GonNa Blaine facebook if things go wrong and a certain candidate decides to use the platform and you're not taking down information with speed or at all is it a noble no-win situation here or what's at stake for this platforms ability to prove its productive place in this discussion? So we all know that there's a lot at stake for the selection full stop. There's more concern in confusion about how to register to vote what is valid I think there's more concern around misinformation around any kind of coordinated attacks. I think we're going into this election in a totally different place than twenty sixteen and interestingly, I think our track record in twenty eighteen was actually fairly good when people talk about things facebook missed in an election getting upset at us for things that are almost always talking about twenty sixteen you almost never hear about twenty eighteen and there have been hundreds of elections around the world and to look our job is to get people accurate information to be proactive. We are being much more proactive around. Pushing out information in this election and we have or have been before, and that is modeled on what we did with Toronto virus. We are taking that approach doing everything to get rid of the bad. We are doing everything to get in front of people the accurate information as well. And then we want to make sure that people can use the prop. One thing that's worth really thinking about is how many small people small people running for smaller offices. Are Using our platform provisionally when we're in social distancing and can't campaign. That's right. So how do you advertise to? No one's ever heard of me. I'm running for State Senate or I'm running for school board and I want to do it cheaply and efficiently we allow that to happen and we're proud of that role replied. There are you prepared I mean thinking about four more years of questions regarding how quickly you should be policing the president and his tweets given the thus far has a track record that trump is definitely more aggressive with platform Vice President Biden ever has been he trump wins. You're already in a in a in a situation where you guys are have been accused of dragging your feet on or taking a less aggressive stance against him. How do you think about that in a world where we might see four more years of that? It's our. It's our job to have clear and consistent rules. That, we apply in a fair way globally and I know we are very focused that we should be very focused on this election. There are important elections all over the world with people on different sides, and so we have experienced not just in the US cycle, but obviously the hundreds of elections that have happened since since last US cycle and we do we. Get accused from conservatives of being anti-conservative. They look it. Awesome. A see liberal silicon, Valley company I mean, I've been very affiliated Democrat. I remain unaffiliated Democrat other people look at us and they say we're not going far enough and our answer is going to be very clear about what our rules are and working apply them as even handed away as possible we also. Recognize that there should be limits to our power to decide what stays up in. Probably one of the most important things that's going to happen in the upcoming twelve months is the rollout of our content for which we've announced but has not yet come together to play. So for the first time, there's GonNa be a possibility that if you either have something taken down. And you think that's unfair or you take it down or you WanNa leave up in either direction, you can appeal it to the content board in your case much like the court right they'll have more than they can but they'll try to hear the big months. Someone else will decide and that board is independent does not report to mark does not report to me. Were also working with governments around the world. We think government has a very big role to play. Wouldn't it be good if governments to find hate rather than private companies would you be good if governments defined what is a political ad? Not Private companies were working hard to make sure that there are checks and balances and that the government's role is really important not just here around the world. You're not just the Democrat I mean you're you're a friend of the president presidential candidate on the Democratic ticket at an I I don't know the. Friendship, but definitely, it's been noted that the two of you have relationship you've been support I'm wondering if you're kind of jaw drops a little bit about the delicate role that you need to play his business leader given facebook's place in society if you're running Ben and Jerry's, which is much smaller if you're running. Patagonia. If you were running for Motor Company, you probably feel a little bit more free an mistaken to be supportive and to give the porch that you want to feel it all that your your ability to help is checked by your role I mean, my day job is facebook and my nights on Facebook, and then you know I work on my foundation as well, and so it is not my job to be very active in the political process and I've chosen a career that keeps me in business. So I don't wake up in the morning. You know what should I be doing politics 'cause I wake up in the morning with a very big job for facebook I. think that's consistent with business leaders. You know as a woman and as a woman who's long fought for the role of women to have more to celebrate ambition to celebrate what we're reaching for the highest office I'm thrilled to see a woman about to be nominated a woman of color about to be nominated and I spoke out anatomy horse I would do. Of course, I would do that and my foundation has done that as well. Do need to think twice about how supportive I mean it it's not a heavy lifting to be supportive publicly. Meaning you don't have to put in a lot of hours, but like running a news organization, I mean it kind of is a proxy for what facebook has become what we think of as a neutral platform even well, I've said, we're GONNA work with anyone who wins for us. So when I'm asked when you work with trump, if he wins the election, will you work with Biden if he sorry president trump if he wins the election we work with Vice, President Biden. Of course, we don't get to pick. Citizens elect their governments and we work with them, and we work with all over the world and we have to be willing and able to do that. Would you work for President Biden if there was a president Biden, you know I have a long decided I had my time. I worked at the Treasury Department under President Clinton and it was an amazing opportunity. What about the open seat in California right now not interested at all I mean. I really love my job and I really have so much respect for mark and my colleagues. Every day is not easy I don't expect anyone feel sorry for me or any of us we have great opportunities big role to play. We have serious responsibility to get this election right? We have serious responsibility to get hate and you know misogyny off the platform. against, wake up every business, I feel lucky to have this opportunity and I feel lucky to work for someone who is strong and has such conditions as mark. Are you having a guest one final question is the enormity of that task of getting it right. Your back and forth about what that looks like all day. But getting it right as a business challenge. Also, when I say this, I wonder if you are amazed at the trajectory of the importance of this as a public trust, almost as a is an institution and we aren't just considering a business but has a responsibility to society. Is there one? That outweighs the other giving you have shareholders, others, or is there is there a way to balance those two things at the same time? These things that people think are in conflict sometimes, but I really don't think they are we need people to trust our service we need people to trust that we're GONNA make content decisions not for profit on either side. But for the right for the right reasons and to doing the things that need our responsibility to protect elections takedown hit, they don't trade off against the business. They're important to drive the business. Now, there is a resource tradeoff rehiring engineer. We can put them on an ad program to build rags ads we can put them on safety we can put them on security. Of course, we have resource trade-offs, research trips of my time reserves tradeoffs mark if you look at how do our jobs and you compare it to for years ago, Mark Myself All of our senior leaders Chris Cox who just came back. Incredible. Chief Product Officer Mike Shrimp for our incredible. CTO We all spend a lot more of our time on the protection of the community. Then we did five years ago but I think that is super important and for a while we were playing catch up and I think all of these things work together. There's not a trade offs. We have to absolutely meet our responsibility and build our business and without meeting our responsibility, we're not going to build Turkishness. Kyi No your plane to grab people from. What you go Thank you for your time. It's always nice talking to and. Until next up. On.
"twelve month" Discussed on The Hustle & Flowchart Podcast
"San Diego chargers this is no. Moved away. We'll like. I'm facing a similar crisis because the Indians are probably gonNA change their name. The redskins are are the Washington football team? Is probably going to be the Cleveland spiders at some point, which was their original name from the eighteen hundreds interesting her ray. Co Eight League. Well, you'll have saying that one day. One day. We'll talk I'm curious about your mindset because I know it's like. Well, in your in your new book, twelve months to one million, I know that's one of the chapters. Dedicate is the mindset and it sounds like obviously starting up from scratch anywhere you you gotta have a good mindset. So you obviously have a great one. You're human though so you're again valleys in your ebbs and flows I'm imagining. But what are some principles that you can live by day to day week to week to keep your head on straight with that pack if I if I could just pass one on, it'd be the longer term. You can think the better decisions you'll make. because. There's so many of us are in this after like, what is the immediate result going to be? But the longer you can think the better your results will be even in the short term. Give one of my mentors last week and were about ready to get to launch the single the capital's incubator, which is where we're going to be investing in advising a group of brands that come follow our process. And the person said to me. You'RE GONNA WANNA do like a really big launch out of the gate name again. FIVE MILLION DOLLARS And they said, but you need to find a way to sell this in a way that gets better over time and doesn't require you to the exact same thing that you did this time again next. That completely may be changed the approach of okay. If I want to be selling this five years from now, ten years from now, how I need to sell this now, because one was stacking the deck for really big launch right now but no long-term momentum but another would require me to go really small right now. But played me a better position five to ten years from now. And so there was a little bit an ego pill that I needed to swallow in order to make the decision of how am I going to promote this in a way that will be growing five years from now. On. All my cards in here and then have nothing to be doing the exact same thing five years from now. So if you can think about five ten years from now and do those things now you will get even better results even in the short. So that's that's. The one thing that I wish I could pass on every entrepreneur. How do you A.? It's interesting. Said this. We interviewed Steven Kotler the other week. Flow resurgent totally butters long company name but he was he said something about how when you envision yourself years I think it's passed like two or three years he started disassociate with that being you. So you Kinda. You almost like the goals are someone else's goals the further out in the future that you set them. So it's sometimes harder for people to stay with their goals and actually pumped up. It's like weight loss you want WanNa. Go lose one hundred pounds or whatever. In the three year plan, are there any things? that. You would do to stay on course or motivates yourself for someone else for? Vision light that yes. So you brought up weight losses, the example So I I worry about one eighty right now at the end of a bulk I, WANNA come down about one sixty and I was telling somebody I realize now that I don't have to lose twenty pounds I have to maintain one sixty. Yeah. So. Because I I know how to lose twenty pounds But I I.
Jim Cramer & Rob Maurer Discuss TSLA Stock
"Everybody around here today, we have a special guests on the program Jim Cramer. Needs no introduction Jim thanks for taking the time out of your busy schedule to join us today and talk a little bit about desolate. I think Tesla's the most important stock in the market because it's created a tremendous amount fascination which you know why like it's been hard to find people who understand Tesla like you like you do in other words when I say that mean people understand Tesla, the car tesla the Stock Tesla, the myth test, the reality, which is why it's so exciting to speak with you because frankly anything Tesla I regard as the most exciting thing that's happening in the market and I'm with the guy. I definitely agree. So I'd love to get your thoughts because I think you're you're thinking on Tesla has evolved quite a bit over the last couple of years I know a few years back to your more mixon. You've called it a cult stock gotten into some interaction with Ilan on twitter over the last I think probably eighteen to twelve months. You've you've definitely become a lot more bullish, which was great. Timing has the stock has reflected that as well. So I just love to hear sort of the evolution of thought process on tussle over the last couple of years. Great. Okay. When he came out I thought it was too hot. And I. I said people should sell it now I know that I had subsequent met. You must get a dinner party. And he belittled me he. Space said that if tried question, his analysis of the wall have giant solar field in Colorado we're all other energy's GonNa be provided from five years announcement five years I've seen it yet. He did pronounced me as a hologram basically. Didn't even exist. I thought it was one of the greatest put downs ever except I wish it weren't addressed. Thank. Eh former. Mathematicians Twenty, seven percent. But here's what's happened to me. I looked at his a stock. I didn't look at it. And I think that what happened is basically a a religious could it was a religious? Conversion. I went out to California my daughter had just driven. From Oregon she was living to Los Angeles. And she talked about charging talks about it was about the flatulence button instead you know data been driving. For twelve years. I never cared what a job. It's never been important. She had a beat up two, thousand, eight A. Ford fiesta she'd been driving she wasn't a corporate, but Tesla made her into Cooper's. So then I went out to sea venture mine one executive is so come bally's a company and another former CFO and they had all tesla's. and. My wife who is a complete corpus I mean a nut car person just loves it her favorite everything's ninety, four range over that. She has she said this is it a she drove it and she said this is it. Now we have not bought one yet because she's we're going. To be able to say listen Jim, you should buy because you live in some new. Jersey accuses go around car but when I was driving with the person who was retired was the CFO as you know what my daughter loves it, my wife loves it. It's so cool but they don't have the financials did naked so that I can recommend it to sixty. And he looked at me turn Amigos. GM naked race two billion dollars. Like. Religious, conversion. The conversion was right there because I knew rob. At, the balance sheet was not questioned. Admin. Panel table ever since we caught a lot of points I, continue to recommend it. I should have realized along the way that when Jay Leno told me Jim. Is the greatest car coming around one fifty. I should've just changed my mind but I hadn't been in the car rob other than. My friend, kwame picked me up to a little bit. And when you have a person who's never driven a car saying, this is like the greatest thing ever doesn't think of as a car and then you have the coordinate nut Lisa who says, this is the greatest thing ever and you have a CFO's very rigorous who said look they can raise the money I said, what am I doing? Why am I fighting the truth? Why am I fighting progress? So rob I surrendered and the best qualified made this year.
Brazil's Environmentalists Worry Fire Season Will Worsen Amazon's Deforestation
"A year ago, there was an international outcry over his surge in the number of fires in the Brazilian Amazon. Now, as fire season gets underway there, the rainforest is facing the threat of even more destruction in the first ten days of this month more than ten thousand fires were detected NPR's Philip. Reeve says that number's up from last year? Fosse's in the Amazon is off to a terrible start. Brazil's environmentalists worried it's president is not thoroughfares starting. Yard Four. Judah. Story that Amazon is going up in flames is alive says Boston. We must combat this with true numbers. He says, the numbers that Boston auto dismisses the Lai come from satellite data collected by Brazil's space research agency. These show fires in the first ten days of this month are up on the same time last year by seventeen percent. There's also plenty of evidence on the ground them European neo a scenario. Dave. Dave still being. Bunch English Niche Flavio Terracini lives in Porta value a city in the Amazon state of from Bonia he teaches biology local university Tennessee on his porch when NPR reaches him by WHATSAPP, all signal and the key advice you fall off came on the forest, the Muslim. He says, he's holding pieces of burned leaves in his hand drifted in from the forest. He can see a lot of smoke on the horizon. He says, it's making the some red here in on a pool. There are fires all around us ash is falling in our homes or Richard Doug, every year Jane Dwyer is an American born Catholic nun who's taken Brazilian nationality. On Apu is a small town in the forest by a river that eventually flows into the Amazon. She's been there for decades helping impoverished farmers protect their land rights. Sister Dwyer says, the fires there haven't yet reached frightening levels but what is frightening is that the forest is coming now she's talking about illegal loggers even pandemic that cutting down trees dwyer says, she can hear them. We can hear it. We live where where the road is they take down in during the day and at night, the trucks are going every single night last August was the worst month for five is in the Brazilian Amazon in nearly a decade. Many of these are deliberately set by farmers clearing already deforested land for cattle. Deforestation rose in the twelve months to July third on the year before. So this Moorland to burn. International pressure on both NATO is growing foreign investors a threatening to pull funds from Brazil unless he does a far better job of protecting the forest most scenario is defending his government's performance Nasi you. And? We're doing a tremendous amount. He says. He punched to the fact that deforestation dipped for the month of July in May Boston narrow sent thousands of troops to the forest to help police it. It's too soon to save. That's making a difference since taking office Bolsonaro has weakened government environmental protection agencies. And the Alan Carr of the Amazon Environmental Research Institute believes the army lacks the expertise to protect the Amazon. We have institutions that have been dealing with the have a strategy to that. So when you give that job to another institution, it seems like it has to start everything again with the willed focused on the corona virus pandemic environmentalists fair the destruction in the Amazon won't get the attention. It deserves sister Jane thinks in her part of the forest this year it'll be even worse areas where there's more far coming down this year than last. So the fires will be worse put breeze NPR news reddish
Implications Of The Spa Industry Being Both Mature And Fragmented
"Business Industry lifecycles are pretty much the same they emerge they grow they mature and they decline but somewhere, between maturity in decline is the opportunity to reinvent to reinvigorate to innovate and head off on a new curve on a new industry. And I would argue that with the spiral mystery, we've certainly emerged with only through growth period. So were either at the maturity stage or at the decline stage, and as I've said, many times on this show over the years. I believe we kind of on the tail end of the maturity, curve at best and heading to decline. So we're at that magical infliction innovation point where we need to innovate reinvigorate pivot industry and Head off on a new curve. But one of the interesting characteristics of a mature industry that seems to be missing from the SPA industry is that consolidation now spoken about over the years a few of the consolidation exercises that have happened that been that has been a little bit of consolidation in the industry, but not a lot by and large I was still a fragmented industry and so what are the implications of that? Well I. Think we're seeing a lot of plan right now in the event of A. Downturn in business, there's not enough big plays in the industry because we're fragmented therefore, lot of those smaller players don't have the financial bandwidth to sustain themselves during that downturn in business. Now obviously, right now it's been exacerbated an exaggerated by the current crisis that the reality is that's the way we're at because we haven't achieved consolidation. I think the problem is is going to be a lot of businesses that are just going to disappear dissolve throughout this current crisis and so what then what about consolidation? Well, yes there's an opportunity for consolidation for sure some of the big boys and girls out there can acquire some of the smaller ones. The problem is if we're on the tailend of maturity and potentially hating to decline is an industry why he want to be the biggest player in a declining market doesn't make any sense. So what we need now more than ever, he's to reimagined reinvent reinvigorate pivot whatever would you WANNA use? We need to find the next industry curve to the industry otherwise without the benefit of consolidation being on the tail of maturity, potentially decline and being in an exceptionally difficult situation right now. I think the outlook is pretty bleak. And less we do that unless we innovate unless we pivot and I guess the message is not that it is all doom and gloom because it's not i. think there's a massive opportunity here but I think what I hear too often in this current crisis we'll be okay if we can just see through the next three months six months twelve months however long the corona virus impacts is but the coronavirus vars has just revealed as I think I don't think it's necessarily laid to the current state of the Nation in terms of spire industry but I do think it has revealed us. So don't sit back there and once the corona virus goes everything will be okay. Understand that a best where the Thailand of maturity and if we're at the tail end of the maturity of maturity on the business life cycle industry life cycle curve, then we need to innovate. We need to find the next industry curve for the Spire Street
Amazon changes podcasting terms: delivers worse option
"Hello it's Alexa. Hey, I got rid of that non-disparagement close from our podcast terms and conditions here at Amazon in the really good news is I've replaced it with something far far worse James Yes oft Paul News reported this on July. Twenty Third Amazon has apparently drops the condition. In order to be on Amazon Music audibles upcoming podcast service, you couldn't criticize. In any way, according to the desk, that portion of Amazon's terms has now been quietly removed. However, we took a look for what is being replaced with appears to be much more restrictive. You'll find all the details in show notes and unused data today. PODCAST radio has teamed up with crowd funding platform procedures. The UK radio station and Digital Audio Platform was privately funded for its launch in February and to celebrate its fast growth and further expansion plans. It's inviting members of the public join in by owning shares in the company. WHO's the number? One podcast in the US media monitors has released the US top twenty, five podcast Rancor Edison research released their own earlier this week both based on audience recall both measure people rather than downloads though media monitors uses research undertaken over two weeks in June while Edison. Research is research took twelve months ending June twenty-fourth. Anyway both have the Joe Rogan experience and number one and the daily at number two, but forty percent of the shows and the top twenty five don't exist in the other top twenty five. That signed behind. You might be worth money amount from. SEATTLE. Has paid three, thousand, two, hundred dollars for a podcast sign made famous on the my brother, my brother and me podcast. Or funny is now integrated with Zappia allowing you to automatically starts processing your audio with all phonic as soon as it's turned into a dropbox folder and even to have Meta data and podcast academy has their August social today from five pm. Eastern it's a virtual events we might pop in for coffee we're up in time. Thank you to US EP overcoming our latest supporter the runny. Company is based in Raleigh North Carolina in the US and they make it easy for you to make a podcast market a podcast and monetize a podcast. You should join them at palled news dot net slash support. And it Paul Cost News and to comes radio DOT COM has launched battleground America at daily podcast diving into the twenty, two thousand and twenty presidential election in the US army that's happening this year new and factual America's twenty six episodes strong and is cast focusing on the country that affects us all wherever we live. The United States are passion lies in unearthing and supporting American stories. The company says told through the Lens of documentary filmmaking
How I Built Resilience: Taha Bawa of Goodwall
"Hey, everyone and welcome to how I built. This resilience edition on these episodes were talking with entrepreneurs and other business leaders about how they're thinking creatively during such a disruptive time and today we're GonNa hear from Ta the CO founder of Good Wall Good Wall is a social network that connects high school and college graduates with jobs and scholarships. Today Good Wall has raised over sixteen million dollars with more than a million users on the platform I. Spoke with Taha, from his company headquarters in Switzerland where he gave me a rundown of goodwill's mission for people who've never heard of goodwill just tell us how how does it work? It's essentially a mobile platform that's designed for the next generation. We started off with high school students helping them build up their first profile showcase themselves in a way that I'm accentuates their extracurricular activities in particular, connect them to opportunities mostly scholarships in colleges and all. This happens within a positive and supportive community. Over time, we've grown with our members into the college and young professional space. Our whole goal is to level the playing field, maximize the potential of as many people as possible. So it's been compared to linked in is that a fair comparison I? Think there are similarities however, we're really focused on on our part, which is this next generation starting as early as sixty and guiding them through almost Sherpa in. Them through the future of earning learning and those opportunities. There are various features that we have that they don't, and we're really focus from a user experience perspective, and then from a community perspective, it's it's very different posts don't work here. You wouldn't find students talking about being on the chess team being on the robotics team being on etc etc on goodwill mean if you are, let's say eighteen years old and you're interested in applying to college. What does it look like you go to? While you create a profile for yourself and and then what you're going to goodwill, you help yourself our initial early adopters were mostly international school students who maybe didn't have as much guidance as others or since the US who maybe didn't have as much guidance from their parents from college counselors it come on. Here's he would other people are doing they'd be matched with colleges and universities and. Also. With scholarships based on their data on their profiles and then they'd be able to connect with like minded youth. So we had this girl based out of Jordan who was really into robotics science and unfortunately no one really around her who had that those similar interests and she was able to find others like her in the US connected Internet. NASA did incredible things afterwards actually many of our students have gone bound exclusive opportunities at. Like Oxford and others that we've partnered with an. Super fulfilling perspective. Yeah. It's really caused US checking it out last night and it's it's a little bit like if you didn't have a mentor or a guidance counselor like here you go. Yeah definitely I think a lot of early adopters were privileged in the sense that they had a lot of ambition and maybe they went to good schools. But over time we've especially with last year we've really. Put a lot of effort and a lot of energy towards helping youth who are maybe a little under privileged that privilege is actually not necessarily one hundred percent linked to financial situation but it can be for example, we're doing now with UNICEF death and other organizations in Africa for example, is running programs they are and were really helping you bring out their ideas, build up their confidence show who they. are in connect opportunities and it's been really really fulfilling and we expect to do more underrepresented communities in the US. For example, we're doing more and more there. That's where the biggest room impact is. At the end of the day, we are a social enterprise and it's very fulfilling to help youth who go to elite schools and connect them to lead universities and colleges, but it's even more fulfilling. Even more important for us to step in where the impact Delta's the biggest for, for example, youth in Africa who insert African countries that just don't have any exposure don't have opportunity. Don't have the guidance but do have access to a phone and can has result go through. So we're really trying to do more there in particular and are you started this company in two thousand fourteen with your brother? Where did the idea come from? So my it was my brothers idea both of us were born in Switzerland we lived in Iran the US came back to Switzerland. Our parents used to work in the humanitarian sector. My father worked for or Serb refugees around thirty years, and we experienced a lot growing up. We was like quite a contradiction going skiing on the weekend in in a very affluent privileged, no bubble in Switzerland whereas at the same time, we'd go in summer vacation and give candy out to refugee kids who are age your ten eleven and that that really did shake US quite a bit in throughout our upbringing we realized that we are. We are I'm here not because I'm smart but because I was lucky osborne that could have been born two doors down in that, my life would have been very different and I'm confident because of the experiences I had rather than because I'm innately able to do so and that's really what pushed us to say we were lucky in this sense what would happen if we were able to give those opportunities in terms of particularly experiences. So education is one thing traditional education is one thing but particularly experiences to millions of youth around the world what would happen how can we change things and that's where we thought it has to be mobile first it has. To be a digital solution and it has to be able to tackle millions and we wanted to go a step further. We said it's good to maximize one's potential but hopefully, we can do that in a win. We're very idealistic in that sense in a way that it maximizes or improved society as well or impacts society positively, which is our mission statement that if we have enough people that are exposed to not only improving themselves but as so often it's a form of education knowing what's out there if I hadn't gone to refugee camps or if I didn't have the background where my parents are Richard from Sri Lanka, would I really be so inclined to How this positive impact who knows I did have that chance I view that as an opportunity to give those opportunities in showcase through volunteering through being aware through connecting to people from different backgrounds. Hopefully, we can move the world forward I. Think it's needed now more than ever, right? Yeah. For Sure Tyler, the business for a second I think you've got around fifty employees the world you've got offices in Switzerland, the US Germany Serbia the Philippines mean you're growing you've got presumably some cash runway but these are tough economic times. I mean Lincoln just laid off a thousand people, their record numbers of people in the US for unemployment. So first of all. How is your revenue been in your business been impacted by the global economic slowdown? Yeah. I mean when it happens I think the first week where we started notice he was getting really serious I. Remember it. The first thing we did was we we had a board meeting and we talked about, okay what's our cash situation and let's make sure we get through this are along a be while maintaining the team for two reasons. One is like you don't want. Downward debt spiral. But also because we have the opportunity to have real impacting this time if we make the changes in adapt effectively, but we won't be able to do so if we don't have the team to do it so we've actually hired over the past few months and we've actually grown over the past few months and we've adapted to do. So the first week was really about scenario planning getting through that after that, we assume the worst but we. Ourselves decided. Well, there's definitely GONNA be less demand for recruitment is definitely less hires which hurts us which hurts our users or are members and we said, okay how can we can we help because if they come on in the no jobs? Well, it's a very bad experience, but it's also it's hurting us. So what we did was we put we put together this program better together and other challenges where youth can develop work experience at the end of it. They get certificates that show that they've accomplished these different challenges participated in it, and at the end, it can be used as work experience towards all of our partner companies. So it's actually giving them something to do some hope, and at the same time, this is generating revenue for us as one example of revenue for us. Another example is just before the crisis a part of our model is we work with large partners and a couple of these large partnership so. Leading recruitment than leading education routes, stunts or came to a halt. And then I don't know if this is despite coverted or because of covid other opportunities came about we've now partnered over the course of Kobe with market leaders in markets that we are not present in or were very marginally presents and he's actually allowing us to take up extra market share and grow in more significant way to timber onwards. Let. Let me ask you about the demographic that you target. Right I mean and I'm Gonna I'M GONNA use this term Gen Z.. Always cringe when I say because I remember like when I was in my twenties and people talked about Gen-x and their slackers and I would just cringe and you're older people talk about Gen xers and I was like, what are you talking about but just just to make this kind of simple we'll we'll just say Gen Z.. So if you're Gen Z. I'm sorry it's annoying I know. This is a really challenging economic moment if you are in high school now and you're going into college or if you're in college, there's a pretty good chance. You'RE GONNA GRADUATE INTO A world with very few jobs. You know a world that we haven't seen certainly since two, thousand, eight, nine and ten but maybe far far more challenging than that. What's your sense I mean? What do you think I mean do do you think that's that's actually true that that is likely to be the case for the next three, four, five years or more. Yeah, I think whether or not we go through a deep recession with mass unemployment particularly for the Youth USA next three four five years very probable that US at least in the short run or to suffer they're normally the last to be hired the first to be fired and that's justified for various reasons including ethical. Oh, they have less commitments than, for example, someone with kids, but it is incredibly difficult and the mental toil of, let's say an eighteen year old doesn't know what's coming up next we need to be able to be resilient and we need to be able to learn how to learn and adapt because we just don't know what's going to happen. So they could be a second. Downturn there could be a third downturn. It could be sustained downturns and US like across society but in particular for the youth they we have an opportunity they have an opportunity to take this and say, okay, it doesn't kill me. It might make me stronger and I can learn from this develop that resilience that five, six, ten years from now I'm able to deal with the next crisis in a more in a stronger way because I'm going to have to do that and some of the skills that need to be developed in my in my opinion or entrepreneurial thinking that ability to be flexible and resilient we we need to do more though the on just the the these massive stimulus packages and. Is trying to do whatever they can for sure this generation needs the government needs to intervene to be able to organizations needs to be able to intervene to support them to the best of their abilities in terms of developing skills and able to resilient. When we come back in just a moment, I'll talk with Taha about college graduates who will probably face a shrinking job market over the next few years stay with us. I'm Guy Roz and you're listening to how I built this resilience edition from NPR. For this podcast and the following message come from the American Jewish World Service working together for more than thirty years to build a more just and equitable world learn more at age aws dot org. Hey welcome back to how I built this resilience edition despite the economic slowdown tie and his company good wall have been able to grow their team and stay afloat. But as jobs are drying up across the globe. Many college graduates are looking for opportunities and can't find any if you're like in your early twenties now and you're looking for an opportunity and you can't find one. What would you recommend a young person? Do Who's who's graduating college is just entering the workforce and is kind of trying out different potential career pass. Is it a good time to just steer clear of the workforce for a while and get some more education which in the US means more debts? What do you think? Yeah, I think. Definitely, trying is important, but this might just be an opportunity to start your own thing. You know a lot of great companies came out of the last crisis because they just couldn't find jobs or that opportunity just wasn't there for your. So maybe start one's own thing. It's never been easier to start a business. It's never been easier to try something new. So if even. If it doesn't work. That's incredible work experience. You know when we talk to HR owes of some of the leading companies in the world, what are they looking for or what were they looking for before the crisis indefinitely after is that ability to be entrepreneurial even if you're working for fortune five hundred, so it can't hurt best case scenario you build something. Amazing. Worst case scenario. Fail and you take those skills and you leverage those skills and you keep your mind active. It's so important from a mental health perspective, keep your mind active and then apply them when the market comes back, which will at one point another opportunity. If if maybe starting yourself isn't it join some friends or join or reach out to small startups definitely volunteer is an opportunity. There are a lot of NGOs are nonprofits that need help or need support right now, build up your work experience gained some experience concrete tangible work experience that differentiates further rather than just having eight twelve months in your resume which are empty. Unfortunately, it might not help financial side and that's where that's where one has to be creative and it's it's just really tough and that's What does the government intervention on that front need to be because there's some that just can't afford to do what I just said, which is volunteer or build your own company because they don't have that safety net that don't have that opportunity in and unfortunately there in we're almost out of ideas because he go back to college, you just talked about extra debt but for some unfortunately are going to have to do it, and that leads to more a more philosophical discussion on what is there so much debt attached to a college education where you know in Switzerland, for example, I paid for my undergraduate I paid around a thousand dollars a year it's a leading edge I mean it's like A. Top universities and so that's a that's another discussion. Yeah. I agree with you I think that this is a moment to be entrepreneurial and it's challenging because you're you're right. I mean not everybody can do that from an employer's perspective you mentioned human resource officers, and by the way you're right I mean a human resource officer is very attracted to an applicant who started a business or try to start up in it failed. Because as you say, that's incredible life and work experience. What are some of the characteristics and sort of ways that quote Unquote Jersey works that might be different from previous generations maybe what their expectations for example? Yeah. It's something that comes up quite often the expectations are are huge I think even if we look at the generation before part of it is there needs to be in there. Always has been this need for grits for determination. I think post Covid, we're going to have very likely incredibly resilient and determined generation I. Think it's it's really great for I mean it's it's very tough. Love going to suffer and I hope I hope it will be as as few as possible but coming out of this generally on the whole, there's good reason to believe that this generation. is going to be really conscious a bit like after World War Two really conscious of financials very conscious sauce how lucky they are how privileged quickly things can change how precarious the society within which we live is actually it's a disease that, yes, it's it's it's it's serious, but it could have been a lot worse. It could have been worse could be one hundred exists and it's brought. Our global economy to its knees and you know we feel like we're often the masters of the universe and that's not just Jeb across demographics and we clearly aren't on I. think a little bit of humidity goes a long way. I love the energy of younger people coming in because their ideas are just so radically different from the way people in my business have have seen their profession What is your advice for employers looking to harness the intellectual power of Gen Z.? Yeah. No, it's a really good question. There basics of management that have been the same for every demographic every every niche within that demographic. It's look at maximizing the potential of the particular individual to different people react differently to different forms of management. Within this can talk about trends, but the ability to give them that chance to express themselves. The need for trust is always been there now definitely, so I mean even more so because they know what they're capable, but then also must not forget they are still with very few years of experience and being able to be there to give feedback to to tell them what they're doing. Right. Tell them what they're doing. Wrong. Both sides is critical. So just leaving someone out there in the world is not going to necessarily need to great results either but giving that safe-space giving that trust and creating an environment of being game your to maximize your potential and the. Direct, order may have worked. They may have been able to get away with it in the past, but some people might be okay with it but generally speaking that's that's especially for for you a lot of potential that's just not conducive for maximizing the potential where do you see your your business and what you're doing in five years from now what do you want it to look like I think for us it's always been about really helping as many youth as possible be as inclusive as we. And so we're ready serving youth in one hundred, fifty countries would like to go deeper in certain areas through our partnerships or load serve more youth in a more significant way. Provide more opportunities just re the best experience. That's probably what's most important. I think that's where we can have where we can make our contribution towards society. That's what we're good at, and now it's just about going to the next level. Yes. It's a challenging period, but we're going to be okay. WE'RE GONNA get out of this, and then it's about really taking this opportunity and doing the best we can because we are in a privileged situation if we were if we were unlucky which is the case for many other start ups I, friends who had term sheets for massive rounds of financing evaporates we hear the stories and then know they're just unlucky. So we're in this lucky position to be able to operate and to be able to do what we're doing. Let's. Make, the most out of it and I think that's our that's kind of our duty and I think that's yeah. TOBBACO
Brexit talks: Michel Barnier believes trade deal 'unlikely' at current stage
"And a brexit trade deals being called unlikely. The EU cannot accept and will not accept the bill for the UK's political choices. Those were the words of Michel Barnier as he gave a press conference in London today, and the e US chief negotiator blamed the UK for making brexit trade deal unlikely he wants his opposite numbers to give up some ground Brussels demands on fishing. The two sides are also divided on the so-called level playing field guarantees that the e U, says a needed to prevent fair competition. You can read what Mr Barnier said. When asked if the U, K trying to run down the clock to get a better deal. Of course Johnson was elected in December on mandating. Get brexit done. Tomorrow marks a year since he became. Prime Minister Patrick I. thinks Mister Johnson's first twelve months since Downing Street's has been an epic motion picture, and he ponders whether the prime minister's done a good job. One person doesn't think so. Is Nicholas Sturgeon? And she accused Mister Johnson of using covid nineteen as a campaigning to during his visit to Scotland today, the prime minister champion, the might of the Union, and ruled out a second referendum as support for independence grows. You can see how the first minister used a press conference to call him out.
Capital Allocation with Blair Silverberg and Chris Olivares
"Blair and Chris Welcome to the show. Thank, you good to be here. We're talking about capital allocation today and I'd like you to start off by describing the problems that you see with modern capital allocation for technology companies. I'm happy happy to start there. So I think it might be helpful to give. The listeners, a little bit of our backgrounds so I was a venture capitalist at draper. Fisher Jurvetson for five years I worked very closely with Steve. Jurvetson and we were financing are very MD intensive. Technology projects that became businesses things like satellite companies companies that were making chips to challenge the GP you new applications of machine learning algorithm so on and so forth and I think the most important thing to recognize is that the vast majority of technology funding does not actually go to those kinds of companies. The venture space is a two hundred fifty billion dollars per year investment space. The vast majority of the capital goes to parts of businesses that are pretty predictable like raising money in in investing that in sales, marketing and inventory or building technologies that have a fairly low technical risk profile, so the vast majority of tech companies find themselves raising money. From a industry that was designed to finance crazy high technology risk projects at a time where that industry because technology so pervasive you know really do the great work of of many entrepreneurs over the past twenty to thirty years, technology is now mainstream, but the financing structure to finance businesses not has not really changed much in that period of time. Yeah, and then I guess I'll talk a little bit. My my background is I came from consumer education sort of background, so direct to consumer, thinking about how you use tools and make tools that ingrained into the lives of teachers, parents students I was down in the junior class dojo before starting capital with Blair. We were working on the Earth thesis He. He was telling me a lot about this. The the date out. There exists to make more data driven in data rich decisions. How do we go software to make that easy to access in self service and sort of servicing the signal from the noise, and we kicked around the idea and I thought that they were just a tremendous opportunity to bring. What Silicon Valley really pioneered which is I think making software that is easy to use in agreeing to your live into kind of old industry fund raising capital Haitian. The kinds of capital allocation that exist there's. And debt, financing and different flavors of these. Of these things say more about the different classes of fundraising in how they are typically appropriated two different kinds of businesses. So. You have the main the main groups you know. Absolutely correct, so there's. Equity means you sell part of your business forever to a group of people and as Business Rosen succeeds. They'll get a share in that. Success and ultimately income forever. Debt means you temporarily borrow money from somebody you pay them money, and then at some point in time that money's paid back and you all future income for your business, so equities permanent, not permanent. If you think about how companies are finance like. Let's take the P five hundred. About thirty percents of the capital that S&P five hundred companies use to run. Businesses comes from debt. In the venture world that's remarkably just two percent. And the thing that's crazy is this is two percent with early stage seed companies, also two percent with public venture, backed companies in places like the best cloud index, which is like a one trillion dollar index of publicly traded technology companies started their life, and in with injure backing many of them SAS companies, these companies, also just two percent finance with debt, but nonetheless within these these classes, the reason it's obviously economically much better for a business and pretty much every case to finance itself with debt because it's not. Not It's not permanent, and it can be paid back. It's much much cheaper to use debt. That's why you buy a house with a mortgage show. You know you don't sell twenty percent of your future income forever to your bank help you buy a house, but the reason that people use equity comes back to the risk profile so just like. If you lose your job and you can't pay off your mortgage. The bank owns your home. Same exact thing happens with debt in so restorick Louis, if there's very low. Certainty around the outcome in typically early stage investment you're you're doing a lot of brand new are indeed you have no idea if it's GonNa work you cope. You know over time that you'll be successful, but there's really quite a bit of uncertainty equities a great tool because you're. You'RE NOT GONNA lose a business, you know everybody can basically react to a failed. Are Indeed project. Decide what to do next had saints. Equity is kind of the continent tool for high technical risk, high uncertainty investments, and then debt is basically the tool for everything else, and it can be used as most companies do for. Ninety percent of The places that businesses are investing so if you're spending money on sales and marketing, and you know what you're doing and you've been running campaigns before. That were successful, very. Little reason you should use equity for that if you're buying inventory if you are a big business that's. Reach a level of success that on. Means you have a bunch of diversified cashless. Coming in businesses might take out dead on business kind of overall, so it's less important what specifically you're using the money for, but it's important to recognize that most companies are financed roughly fifty fifty equity versus dead, just just intra back companies that. That are kind of uniquely Equity Finance. Scaling a sequel cluster has historically been a difficult task cockroach. DB Makes Scaling your relational database much easier. COCKROACH! DVD's a distributed sequel database that makes it simple to build resilient scalable applications quickly. COCKROACH DB is post grass compatible giving the same familiar sequel interface that database developers have used for years. But unlike databases scaling with Cockroach DB's handled within the database itself, so you don't need to manage shards from your client application. And because the data is distributed, you won't lose data if a machine or data center goes down. cockroach D is resilient and adaptable to any environment. You can hosted on Prem. You can run in a hybrid cloud, and you can even deploy across multiple clouds. Some of the world's largest banks and massive online retailers and gaming platforms and developers from companies of all sizes, trust cockroach DB with their most critical data. Sign up for a free thirty day trial and get a free t shirt at cockroach labs dot com slash save daily thanks to coach labs for being a sponsor and nice work with cockroach DB. The capital that is being steered towards a recipient. It's often originating in a large source, a sovereign wealth fund or family office in it's being routed through something like capital allocators cater like a venture capital firm for example or a bank. How does this capital get allocated to these smaller sources? What is the supply chain of capital in the traditional sense? You know it's kind of funny to think about capital and things like the stock market in the form of a supply supply chain, but this is exactly how we think about it so at the end of the day. Capital originate. In somebody savings, basically society savings right you. You have a retirement account or your population like you know in in Singapore and Norway with a lot of capital, it sort of accumulated from. From the population and these sovereign wealth funds, or you're an endowment that's you know managing donations of accumulated over many many years, and ultimately you're trying to invest capital to earn a return and pay for something pay for your retirement pay for the university's operation so on so forth so that's Capitol starts, and it basically flows through the economy in theory. To all of the economic projects that are most profitable, inefficient for society, and so, if you step back, and you think about like how how is it that the American dream or the Chinese Miracle Happen? You know in in both of those cases different points of the last hundred years. Why is it that society basically stagnated? You know the world was a pretty scary. Scary place to live in up until about seventeen fifty, the industrial revolution started. Why is it that you know basically for all of human history? People fought each other for food and died at the age of thirty or forty, and over the last two hundred fifty years that it's totally changed. It's because we have an economic system that converts capital from its original owners. Diverts it to the most productive projects. which if they're successful, replace some old more expensive way of doing something with newer better way and so I think when when I described that like you know I, think most people can step back and say yeah, okay I. kind of see how capital flows through the system, it goes automatically to someone making an investment decision like a venture capital firm ultimately gets into the hands of the company company decides to invest in creating some great product that people love. Let's. Let's say like Amazon and then everybody switches from you know buying goods at some store that may or may not be out of you know may or may not being stock to the world's best selection of anything you'd never wanted. The most efficient price that's society gets wealthier basically through these these kind of steps in these transformations, but it's asking if you step back and think about it like nobody actually thinks it's processes as efficient as it could be like. We asked people all the time. People were interviewing journalists companies. We work with sewn. So how efficient do you think world's capital allocation is? I've never met a person that says it's pretty good. You know we're like ninety percent of the way there. In fact, most people think it's pretty inefficient. They think of companies like you know we work, and some of the more famous cases lately of of Silicon. Valley back businesses that that totally. underwhelmed disappointed. Their initial expectations and I think most people admit that the efficiency of capital allocation is either broken or nowhere close to achieving its potential, and so we basically we'll talk more about our technology and how we do we do. We basically think of this problem our problem to solve. There's an incredible amount of Apache inefficiency in how data that goes from a project or a company, ultimately funneling up to an investor flows, and so you know it's hard to place blame because there's so many people in the supply chain, but. But I think it super clear that if it's difficult to measure whether or not a project or a business is good at converting capital into value in wealth, and you know products that people want, it's nearly impossible for society to become really good and efficient at allocating its capital, so we're we're here basically to make the data gathering data transformation visualization communication of what's actually going on under the out of business as efficient as possible and you know from that, we thank some great things are going to happen to the economy. Goes a little bit deeper on the role that a bank typically plays in capital allocation. If you think about our bank works like let's take. Let's take a consumer bank that most people think about you gotTA checking account. Right, now you've got some money in that checking account. That account actually takes your money or dot and most people know this your dollars sitting in that account. You know just waiting around. You'd withdraw them. Your dollars are actually rolling up into the bank's treasury. There's somebody at the bank working with the regulators to say hey, how much of this money can we actually put into things like mortgages, commercial loans, all of the the uses of capital that society. Has In some some effort to. To, move the world forward and make the economy efficient, and so those deposits basically roll up into a big investment fund, and there's ratios that regulators set globally that say those dollars needed to be kept in reserve, versus how many are actually able to be invested, but with the portion that's able to be invested. It's there to fun. You know building a house to fund a business back -Tory to fund sales and marketing or inventory procurement for some other business, and so a bank was was basically the original investment fund, and a bank has unlike venture funds and other sources of. We typically think private capital. The bank has tricky. Problem were any moment all of the depositors holding the checking accounts could show up and say hey. I want my money back and so that's why banks have to deal with reserving capital predicting the amount of withdraw and classically everybody wants her money at once at the worst possible time, and so banks have to deal with quite a bit of volatility now if you take an investment fund on the other hand. Totally totally different structure, so your typical venture fund will have money available to it for a period of ten years from you know typically these larger pools of capital. We talked we talked about so very rarely. Individuals are investing retirement savings in venture funds, typically sovereign wealth funds down that's. Basically pools of that individuals capable. Win One of these funds makes a commitment to a venture fund. It'll say you've got the capital for ten years. You've gotta pay back. You know as investments exit, but other than that will check in ten years from now. We hope that we have more than we gave you the star with and there there's no liquidity problem because the fun has effectively carte blanche to keep the money invested until some set of businesses grow and succeed and go public and make distributions so one thing that's fascinating. The Tappan in the last twenty five years is private capital capital in the format of these kinds of funds. Have just grown tremendously and so today. There's a little over five trillion dollars. Of private capital being allocated in this way to think like buyout funds venture funds so on and so forth. Funds don't have the liquidity problems of banks. They can make much longer term for looking investments. This is created tremendous potential to make the economy more more efficient by taking out the time spectrum. You know this is why venture investors can do things like finance spacex or Tesla. Really. Build fundamental technologies in the way that a bank never could so this is an amazing thing it. However leads to a very long. You DAK cycle, so the incentive goes down when you take out the time line over which investment needs to pay back. To carefully monitor and understand what's going on in the business day today, so it's pretty interesting thing about the different pools of capital. There's not not to. Make it sound too confusing, but I think everybody will admit that the financial markets are incredibly diverse complicated we track basically about fifteen different kinds of capital, and they're sort of pros and cons with each one, but you know a bank is one. A private fund is wanted insurance companies balancing as another. You've got things like ETF and public vehicles that hold capital so there's quite a bit of complexity and the the structure of the financial markets. All right well. That's maybe the supply side of Capitol on. All kinds of middlemen and all kinds of different arrangements, but ultimately there is also the demand side of Capitol, at least from the point of view of companies getting started which is. Startups or computer in later stage with the maybe they're not exactly considered startup anymore, but they're mature. These companies have models for how they are predicting. They're going to grow, but oftentimes these companies are very. Lumpy in terms of how their their revenues come in how closely their predictions can track reality. So how do technology companies even model their finances? Is there a way to model their finances? That actually has some meaningful trajectory. Sure so first. Companies you know need need a base think of all the places that they're spending our money and. We're pretty. We Do I. Think a pretty good job of organizing this and making it simple so when we look at companies and we can, we can talk more about how the the cabinet machine operates, but when we look at companies, we basically think they're only a handful of places of money. Get spent you spend money on. Short term projects that you hope proficient things, sales and marketing. Houston money on paying for your sources of financing like paying interest on debt, making distributions to your investors, and then you spend money on everything else and everything else can be designing software building products on, and so forth, and so if you break the demand for capital down into just those three buckets. And look at them that way. Some pretty interesting things happen. The first is for the short term investments that you hope productive. You can track pretty granular nearly whether or not they are, and we'll come back to that. For paying back your investors, you sort of know exactly how much you're paying your investors so a pretty easy thing to track, and then for the operating costs you know most people will help us. Apax, that you're paying to keep the lights on things like Renton the your accountants, the CEO salaries on and so forth these are these are table stakes expenditures. You need to stay in business and so. Amongst each of those three things, there's different things that you wanna do to optimize and I'm happy to go into more detail sort of go through each one. If you think that'd be useful. Yeah Bliss a little bit more about about how these companies should be a modeling, their revenues are that is meaningful to model their revenue so that you can potentially think of them as targets for for capital allocation so. If we think about. Understanding what company might be a viable recipient of capital? How can you accurately predict the trajectory of that company, or or do they? Would they present a model? Would they develop a model good through a little more detail? How a company would serve justify? It's need for capital. So typically what what most companies do and this is not terribly useful or accurate, but I'll tell you what most people do I mean by the way like how central the entire economy predicts, predicts demand for capital works like this. Companies take. Their income statement on their. Balance Sheet historically. And they they basically have this excel file got a bunch of you know, rose and have different things like my revenue, my you revenue that sort of linked or my expenses that are linked revenue Mukasey could sold so on and so forth, and they grow each of those rose by some number that they hope to hit so if you want your revenue to double next year, you'll say my revenue one hundred dollars today I wanted to be two hundred. Hundred dollars twelve months from now I'm just GONNA draw a line between those two points and every month. There will be some number that's on that line, and that's why monthly revenue I want my expenses. You know everyone knows. Expenses are going to have to go up if my revenue goes up but I don't want them to go up as much as my revenue, so I'm going to draw a line. That's you know somewhere less than a doubling. and. You pull these lines together on one big excel file and there's your you know they're your corporate projections. In general, this is true for big companies small companies, but that's not actually how. Company revenue works because if you go back to the three categories, we talked about before, and you just focus on the one that talks about the short term investments. The. Way Company Revenue Actually Works is a company this month. Let's say they spend one hundred dollars on sales marketing. Well. They're hoping to get a return on that sales marketing, and so they're hoping that in the next you know six months. That's paid back. Twelve months that's paid back. You can actually track every time they spend money on sales and marketing. how quickly it gets paid back so it's that level of precision that can accurately predict revenue, and so what we do is we basically just get a list of every time? Money was spent on one of these short-term investments, so you sales and marketing for for an example, and then we get a list of all of the revenue that was ever earned. And we attribute between both of those lists causing effect. And we do that using a bunch of techniques that are pretty commonplace in your typical data, company or machine learning company. We use some math things like factor graphs. We use simple kind of correlations. We have You know a whole kind of financial framework to. Guess. What attribution should be because you learn a lot as you see different businesses and you see a bunch of different different patterns, which you can basically cluster on, but it is this linkage between spending on something like sales and marketing emceeing seeing revenue, go up or down, but makes or breaks a business, and you want to look at it and I is. Not a bundled. Entirety which is how financial projections are typically built? Okay, well! Let's talk a little bit more about what you actually do so if you're talking about early stage technology companies. Describe how you are modeling, those companies and how you are making decisions as to whether they should receive capital. When a company comes to capital they they come to our website. They sign up for this system that we built which which we've called the capital machine. And the first thing that they do is they connect their accounting system their payment processor typically, so think like a strike, and then sometimes they'll provide other things like a pitch deck or a data room, or whatever other information they have prepared. The system pulls down. All of the date in the accounting system and the the payment processor, and we look at other systems to these are the two key ones that all all dive into detail, and so, what ends up happening is from the accounting system. We get a list of all the times. Businesses spend money on these things like sales and marketing that we were talking about before. From the payment processor we get a list of all the revenue transactions in crucially we get it at. The level of each. Each customer payment, and so you know we scrub I all we really care about is having a customer ID, but once we have data at that level. We can start to do this linkage and say all right look. You know this business spent. A million dollars on sales and marketing and March of two thousand eighteen in April of twenty eighteen, and we saw revenue grow by twenty percent. That was a pretty substantial chain. You know what actually happened here. You can typically identify the subcategories of sales and marketing and start to do this link between these two, and this is really the you know the magic behind our our data science in our team pairing with our engineering team to figure out this problem and solve away that is, that's robust. Bud once we have these two data feeds, and the system goes through, and does all of these attribution. Populations were able to present that back to accompany a pretty clear picture of what's going on, and so we'll say things like hey. Your Business is pretty seasonal, and in the summer is when you're typically more more efficient at converting your sales and marketing dollars into growth so I, you want to finance growth in the summer. The second thing is only about eighty percent of your businesses financeable. There's twenty percent where you might not know it because you're not looking at this level of detail, you're busy building your business, which is exactly exactly what you should be doing, but Twenty percent of your businesses, not efficient. You're spending money on on your sales and marketing categories, product lines, and CETERA that just shouldn't exist and so if you get rid of those. If you double down on the part of Your Business, it is efficient. Then we predict your revenue will be act fifty percent higher, and we'll tell you exactly how much money you need to invest to raise money to to raise the revenue by fifty percent. We give you a bunch of charts that allow you to see how history and projections merged together and dig down. Inspect how we do that linkage to make sure you agree, but. This is what the capital machine does at its core. It Converts Company data into a fully audited completely transparent picture of. How business works where it sufficient where it's not efficient. And then that's where our technology stops, and where balanced she comes in, and so we then take this information, and we make balancing investments directly in companies, and so primarily at this point we lend money to technology companies that we see from their data are eligible for non dilutive funding. We make capital available to them directly. We basically allow them to access it through the capital machine. We use one system to communicate changes to the business. No keep both sides and form so on and so forth, but this is the kind of analytics layer that's essential to making these capital allocation decisions more efficient, and so I think you could imagine a day at least for us in the not too distant future when it's not just US using our balance sheet in this tool to make investments, but in fact, just like excel, every investor can benefit from a similar level of analytics and transparency, as can companies by getting more accurately priced faster access to capital less friction so on and so forth. Get Lab commit, is! Get labs inaugural community event. Get Lab is changing how people think about tools and engineering best practices and get lab commit in Brooklyn is a place for people to learn about the newest practices in devops, and how tools and processes come together to improve the software development life cycle. Get Lab commit is the official conference. Forget lab. It's coming to Brooklyn new. York September Seventeenth Twenty nineteen. If you can make it to Brooklyn, on September Seventeenth Mark Your calendar, forget lab, commit and go to software engineering daily dot, com slash commit. You can sign up with code commit s E. D.. That's COM MIT S. E. D.. And Save thirty percent on. Conference passes. If you're working in devops, and you can make it to New York. It's a great opportunity to take a day away from the office. Your company will probably pay for it, and you get thirty percent off if you sign up with code, commit S, e. There a great speakers from Delta. Airlines Goldman. Sachs northwestern, mutual, T, mobile and more. Check it out at software engineering daily Dot Com slash, commit and use code. Commit S. E. D.. Thank you to get lab for being sponsor. The inputs specifically if you think about a model for determining whether or not, a company should should be eligible to receive capital. I'd like to know how the the models are built. The the data science models that you're building are constructed from the point of view of the inputs. So how are you determining or how do you like company comes to you? How do you turn that company into some structured form of data that you could put into your models and determine whether it's worthy of capital. Yeah I mean it comes down to what what the data is your down so when we talk to a system like striper transaction records system, you know that that's the revenue of the company now where things get interesting when we connect to balance sheets in penalizing, it's of accompanying really onto understanding. Weighing. What exactly these numbers mean, and that sort of where we made our pipelines were built from the ground up to give us that granular. Of A company's cash family revolutions. Where's the money going where they allocating? And it's savable greenway or you once. What do you understand that data through that Lens? That let's build pretty sophisticated financial models Linda. And you know as soon as you have the picture of Company You can really do a lot of flexible analysis on the back leg distributed computation. Come stuff that you would never be able to excel and quite frankly a lot of these companies don't have the stacking internally or really the tools to understand for themselves, so you'd be surprised it you know when we surface this analysis back to the company by virtue of just being transparent on how we're making decision how it is perceived their business, the signals that were uncovering. These operators the CEO's the CFO's that are really focused on building company. Really surprising. They're really making these insights really transforming. How they think they should have capital. Should invest growing business. Are there any? Sources of Third Party data that you can gather to improve decision making. There are at a macro economic sense, and so it's actually quite useful to look at public company performance and say hey. SAS businesses in general. Most people notice, but facilities in general are seasonal in the fourth quarter. Budgets basically expire and people come in, and they buy a bunch of SAS. Software and so to take concepts like that basically shapes of curves, signals and apply them to private company. Financials is useful. Crucially though there is no private company. Data repository of any kind like it just doesn't exist, and you know notoriously even even with small businesses. It's actually quite quite difficult to get access to any sort of meaningful credit data, and so, what ends up happening is these aw. These businesses. Give you a picture of their business directly as an investor and you have to interpret it directly, and that's basically how this works totally unlike consumer credit, there's no credit bureau that people paying so most investors are analyzing the state and excel. Excel notoriously breaks when there's about a million cells worth of data, and so we've got this great visualization showing our data pipeline, and it's basically a bunch of boxes, and there's a little tiny. Tiny box in the bottom of corner that's excel, and there's a bunch of other boxes across the entire rest of the page that are nodes in our in our distributed computations, but accelerate very very limited, and so it makes it impossible to actually understand what's going on in business from the source data, and it's at the source that you see this variability in this linkage between profitable capital allocation decisions in unprofitable capital allocation decisions. Describing more detail, the workflow so a company comes to you and they're going to put their inputs into the. Would you call the capital machine? What does that workflow look like in a little bit more depth? Yes when they come to the website, they creighton count much like you would on. Twitter facebook account. When your details your email, you terrify your email, and then you on what's recalling like the capital portable on there? You have et CETERA. Tools to connect your sins record and these are typical offload. So you know people are very familiar with you. You know you say hey, let's connect by quickbooks you in your credentials and sort of be as secure way, and you click okay and the system checkmark by your quickbooks in the system start pulling that data out of regular cadence and. Depending on what system you're connecting you of the characteristics of that's not go systems of record, and how much data you have you know. The data's available anywhere from ten minutes to a couple of hours later and you know once we have Dr. System, we run that through our partake analysis pipeline in the users as a company. You get you get charged. In Tableau kind of call it, the insight Saban's these refused that we think would be helpful for you as an operator company understanding about Your Business in separately. We also get views of that data that are useful to our our internal investment team. Whoever is looking to capitalization systems? Are there certain business categories that are a better fit for modeling in better fit for the kind of. Predictable capital returns that you can, you can expect with the investments that you're making so like you ride sharing or Gig economy businesses or some businesses. What are the categories that are the best fit? Say Very few categories don't shit from the from the perspective of of linkages, but they're certainly models at their easier to think through and easier to understand, but our our system can underwrite today A. Lease on a commercial aircraft, a fleet of ships and Insurance Agency ask company the most important. Thing about our system is that the financial theory that underlies it is very general, just like p. e. rate is very general, and so that's kind of sounds crazy like. A lot of. A. Lot of people say what what businesses the best fit for your your system and you know it's kind of like asking what businesses the best for Warren Buffett like Warren. Buffett is a generalist. In any business, and he has a framework in his own head to figure out how to make ship comparable to American Express our assistant has a very similar framework. It just operates at the level of transactions instead of at the level of financial statements, but certainly within. That framework there's some examples that are just easier describes I think like you know thinking through the fishing of sales and marketing something. That's a lot more obvious than thinking through like the stability in refurbishment of commercial aircraft parts, which is a key question you know. Pricing pricing refurbished parts, which is a key question if your financing commercial aircraft and Our team, the ambassadors that use the capital machine internally which we primarily do internally do a little bit of partnering with without the groups to to use this as well. These people are all specialists in some particular area, but it's crucial to understand. They're looking at the exact same chance as all the other specialists and all the other areas, so it's like literally the the Fast Company and a commercial aircraft will have the same series of charts at investors. Are there two two draw their conclusion? Is the question for Chris. Can you describe the stack of technologies that you built in more detail? Yeah Yeah. Of course on the front, we are react type script, xjs, you know everything is on aws, and in the back, and we're. We're all python, and in really the reason for that is if you're doing any serious machine, learning or data science today can't really get away in python stack, so we're all python them back in. We have flasks. As a as our API late here and That's the that's a high level. And get a little bit more detail about how the data science layer works. Yeah, yeah, yeah, of course, so we put on the dea into basically a data lake the that goes down into Ardito pipeline in that's all air orchestrated on top of each called airflow, and we use a technology called desk for are distributed computation, and I think that this is a good choice. Choice for us at this moment you know I see us doing a lot of work on. You know using a spark in other distributed technologies in the future and his team and it turns out that when we pull this data down organizing the data was really important to us as we build a lot of attractions to make accessing that data, really easy for quantitative analysts. Important central to our whole technology is that we're able to do a lot of different financials experiment very quickly on top of this so the the implications of that really cascade down all the way into. You know what technologies where choosing how we structure our delayed. Even even how strokes are teams, so it really is brought up locations across all product. How is it when you're analyzing company that you have enough data that it warrants a spark cluster because I can imagine? The financial data around the company. How can there really be that much data to analyze how you do surprised in a lot of these transactions systems taking up the companies have been around a couple of years and their direct to consumer. These data sets can be can be pretty large. You know we're talking about in the millions and millions and millions of transactions that were pulling down and storing. Storing and that just on a per company basis. You know that's not even talking about if we wanted to. Benchmarks Cross companies, and also if we want to do scenario analysis, so you know one of the things we was part of a pipeline is take this data, and through like nine ninety nine hundred thousand simulations to understand the sensitivity of different variables on the performance of Your Business and If, you're starting out with starting that already large. Sort of a multiplying effect. On how much data the system is the old process? is you go through those different stages? And, can you tell me a little more detail? What would a typical spark job? Look like for a company that you're assessing. Yes, so first episode is ribbon. Our our financial didn't ingestion parts, so we download something on the order of you know forty fifty bytes of Tim's action data for for a company. We have to do all the work to interpret and understand what that means in reorganized that data in a way that are downstream analysis and primitives can. Make sense of and use for useful analysis so really the first step at this point job is is transformed the datum some it's useful, and then there's all the work on what are the clusters in order to machines and analysis in the computational. Resources needed to run simulations. You know not not just say local computer locally owned of fall over the only about thirty to sixty four gigabytes of Ram what league, so that's where workflow comes in creating easier faces into data, clusters and being. Should you know when you run a job? You know when it fails. You know it's done. You know when the team can't okay. This part of analysis done I had intermediate date asset to do more analysis on now get back to work is a lot of the time we spend developing internal tools to make. One other thing that'll mentioned that I think's important is. A lot of the underlying technology in our data pipeline it's no different than like what a tableau or you need. Traditional BI business would have access to, but what's fascinating when you have a vertically specific domain so financial data in our case you can make a lot of interpretations about the date of the let you do much more intelligent things, and so for example we. Don't have to make your own charts as a user of the capital machine. We make all the charts for you can of course. As a business we work with. Give us ideas for charts. You can mock up your own. We we basically have an interface for for business. The I team's to to write some code if they if they want to bought when you have clients who are thinking about financial risk, financial attribution across all of the companies that we see distilling that down into a series of indicators that are detailed, but generalize -able, and then publishing that back to all of the companies that use the capital machine to run their own capital, allocation, decisions and access, external fundraising and capital. Some pretty amazing things happen in so it's only with a vertical view. You actually having these we, we call our data scientists Kwan's, but but actually having these people who you know typically are graduate level economists, thinking for the first time about using transaction level data in their analysis, which is notoriously not not available to to normal economists that you get the kinds of insights and analysis the actionable for businesses, and then in terms of the data pipeline that then means we actually store a bunch of intermediate data that's opinionated in that way, and that makes it much faster to access much easier to benchmark much more useful across a network of companies, versus just that isolated excel model that. Explains only one business. One thing I'd like to ask you about. Capital intensity so there are kinds of businesses that are capital intensive for example where you have to pay upfront for a lot of ridesharing rides, and you know as Uber or lift. His has known in much detail. You allocate all this capital two things to subsidize rise because you try to win a market, there's all kinds of other capital intensive businesses. How does capital intensity change? What makes sense with regard to the equity financing the debt financing that you are shepherding for these companies? That is a great question and be because of where you focus in your audience. You totally get the most financiers don't so. The first point exactly like you said. Capital intensity means a business consumes a lot of capital. It doesn't mean a business has a physical factory or plant or railcars, so it is absolutely true exactly like you said that there are a lot of tech businesses that are incredibly capital intensive. If you are capital intensive business that means UNI especially if you're growing, you need to raise a lot of external capital, and so it is even more important that your capital or a big portion of your capital base is not dilutive. That's that's just essential. Table stakes because what you see with these businesses, the ride sharing companies are great. Example is by the time one of these things actually goes public the early owners in the business on a very very very miniscule. KEESA that business, still if you contrast that to company like Viva Systems which I think is one of the most capital capitol efficient businesses in venture history, I think that this race something like twelve or fifteen million dollars total before it went public in a at a multi billion dollar market cap. So capital intensity. Is a synonym for dilution your own way less. Than you think when you exit entities even more important that you figure out a way to raise capital non ludicrously upfront. Some broader questions zooming out in in getting your perspective. Do a thesis for what is going on in the economy right now where you look at. The fact that We have. Obvious pressures to. Reducing the size of the economy through the lack of tourism, the lack of social gatherings while the stock market climbs higher and higher, and it appears that the technology side of things is almost unaffected by Corona virus is there. Is there a thesis that you've arrived at or or their set of theses that through conversations with other people, you've found most compelling. Sure the most important thing to realize about the stock market is that it discounts all cash flows from all businesses in the stock market to infinity, and so the value, the stock market about eighty percent of the value. The stock market is. Pretty far into the future like more than three years from now, and so if you believe that the current economic crisis and this is why there's always a. At least in the Western, world, last two hundred fifty years after an economic crisis. If you believe the crisis will eventually revert, and there will be a recovery, then it only makes sense discount stock market assets by anywhere between ten and twenty five percent. If you believe businesses fundamentally going to go out of business because of this crisis, that's a different story, but that explains why something as terrible as Kobe nineteen and a pandemic. Only discount the stock market by by roughly thirty thirty five percent in a in March, but that's not what's actually going on today as you mentioned and so stock market prices now have completely recovered. That is something that we think is a little bit of out of sync with reality but I. I mention you know we're not. We don't spend too much time about the stock market beyond that we just look at you. Know Private Company fundamentals. We try to understand what's actually going on in individual businesses across all businesses that are network to see what you know what we can understand, and you know what kind of conclusions we can draw, and so if you take that Lens and you actually look at what's happening to businesses due to Cova nineteen, it's fascinating. Some businesses like think the food delivery space have gotten a lot more efficient, so those businesses lot like ridesharing businesses back twelve months ago, there was sort of a bloodbath between bunch of companies competing in local markets to acquire customers all all fighting Google and facebook console, and so forth you subsidies drivers, etc.. That's essentially stopped. These businesses incredibly profitable, the cost acquire customers has fallen by more than half a lot of cases. The channels were slot less competitive, and so if you're running one of those businesses. Now is a great time to be aggressively expanding. Weird things like commercial construction businesses. They're actually a handful businesses that we've seen do things like install windows and doors and commercial buildings whose businesses have accelerated because all of these buildings are closed down. Construction project timelines have gotten pulled up. All of these orders are coming. Do in they're you know sort of rapidly doing it solutions? There's obviously a bunch of other businesses have been that have been hurt by by the pandemic, but our general thesis are we've studied. Pretty detailed way the Spanish flu in nineteen eighteen, you know. These things eventually go away. There will be a vaccine. Economy will get back to normal, and as long as we can stay focused on working through this as as a society and of maintain our our fabric of of kind of economic progress then. DESAGUADERO values today will eventually make sense just sort of a question of of win for the stock market, and then if you're if you're actually running business in thinking about your own performance in isolation, really being clear about is now the time to invest and grow my business now the time to be very careful with my expenses interest, get through this for the next year or however long it takes for there to be a vaccine. So the way to think about your company, if I understand correctly if I was to to put in a nutshell, is that. I think of you as a data science middleman between large capital allocators, and and start ups deserving of capital, so the the sovereign wealth funds the banks the I guess. Funds of funds. These kinds of sources are essentially looking to you for guidance on where to direct the capital, and you're on the on the other side, absorbing data and creating opportunities from these startups to source the good directions of that capital. Just wrap up. Would you put any more color around that description or or refining anyway. Yeah I mean I. think that at the core of what capital is is where the. Core Technology Ambler of sort of. The private market if you think about public markets today, you've clearing-houses like the New York Stock Exchange, and you have companies that provide analysis on top of that like Bloomberg, you know we see a tremendous opportunity to shift the paradigm where you know the place where all the financial transactions happen. is also the place that collects the data improvise information for those making these decisions and yeah, so I think capitals really at the center of making a transparent technologically enabled financial marketplace. Guys. Thank you so much for coming on the show and discussing capital, and I guess one last question is. Do you have any predictions for how capital allocation for startups will look differently in five ten years? Sure so! The first prediction. And this is happening now. I mean the the infrastructure is. In place both within. And others. Most startups fairly early in their life. Think is equity only way to do this and. So. That's a cultural shift. That's that's already happened. People are starting to ask that question. The second prediction is. Seed and series a funding will be entirely unchanged. After series. There'll be a bifurcation between businesses that. Are Really. Capital intensive gigantic rnd projects think like SPACEX. The series, B. C. d. e. enough are really about building and launching a rocket. Those businesses will by and large not. Turn outside of equity to finance themselves, but there's very few of those businesses. Pretty much every other business businesses that you see raising a series B. Serie C. Will like any normal business in the entire rest of the economy raise maybe half of that capital nine allegedly either in the form of debt. Royalty financing factoring all of the other instruments that normal companies use to finance themselves in the void delusion that will happen roughly three years her. Now that'll that'll kind of we'll see obvious obvious signs of that from very early very early base, and then the final the final thing is. Steve Case talks a lot about this. With the rise of the rest, he's got this great venture fund that invests explicitly outside the coast, so kind of the rest of America and we've seen that there's there's a pretty dramatic distinction between being a coastal business non-coastal business from capital access perspective, but there's no distinction from an actual performance perspective, and so we'll start to see some of the regional. Differences in bias sees around where capital flows, go away. And so I would maybe put that on a five year timeline like raising capital is actually much more predictable, much less biased, and that's great back to the beginning of our conversation. That's great for the economy I mean every project or business that can convert capital, two products and services that people love should get finance. No questions asked doesn't mean it doesn't matter what the color of your skin is. What background you have whether you went to college didn't go to. College doesn't matter. You have a business with data that can prove whether people love it
Are Banks Safe?
"Month they had several plus members. Share an article with me. That was published in the Atlantic titled Becoming Bank Collapse. The subtitle was the US. Banking System could be on the cusp of calamity this time. We might not be able to save it. Article was written by Frank Partnoy. He's a law professor at UC Berkeley. That's a pretty ominous title. We WanNa look at the article as well as the state of US banks and banks around the world. Should we be worried given the pandemic is the banking system poised to collapse. I was especially interested in the article, because it came out right after I had increased my allocation to stocks and added a preferred stock et after the money for the rest of US plus model portfolios. The particular preferred stock after us by shares has about twenty six percent allocated to banks and banks are on the cusp of this calamity that does not bode well for preferred stocks. In the article, Partnoy is particularly worried about banks exposures to an esoteric security. A collateralized loan, obligation or see Elo. We Discussed Sea Ellos back in episode two six in May twenty eighteen. collateralized loan obligations are asset backed securities issued by special purpose vehicles or s peeves. The S P V purchases leveraged loans which are non investment grade bank loans that have been syndicated. A, bank will make a loan to a Non Investment Grade Company, a higher risk company and then sell that loan into the marketplace. Many of those purchasers are Clo's is over a trillion dollars of leveraged loans outstanding. and. Most are held as part of these collateralized loan obligation structures. The way it works. Is that s? Cells, debt and equity securities that comprise to see yellow. Those securities are backed or collateralized by the leveraged loans. The CEELO has multiple layers tranches that are sold separately. The debt layers are rated by credit quality, so the senior layer is triple A.. There are lower rated debt layers known as mezzanine layers, and then there's an equity layer which is unrated. The payments on the underlying leverage loans, those payments are pooled together and flow in order. The first payments go to the senior AAA layer then to the lower rated layers, and then finally to the equity layer. That is known as they waterfall. The debt tranches are over collateralized debt ACL Oh might have issued five hundred million dollars in debt securities as part of the L O that are backed by six hundred and twenty five Million Dollars Worth of leveraged loans with the Additional One, hundred, twenty, five million in loans funded from selling the equity trunch. Each Cielo about one hundred and fifty to two hundred and twenty-five loans. And because the leverage loans, themselves are floating rate notes. Their interest rates will fluctuate as short term. Interest rates change the debt tranches within a cll are also floating rate, so there's some protection if interest rates rise. Now because of this waterfall structure, the equity tranches takes the first losses, then the lower rated debt tranches, and finally if it gets to that this senior triple, a. rated debt trench suffered losses. That hasn't happened before. The SNP does a global Cielo report looking at default rates. From Nineteen ninety-six to twenty, eight eighteen overall default rates for CEELO's was zero point five percent. The worst vintage year was sea ellos issued in two thousand eight. there. The default rate was one point seven percent. There have been no defaults in CEELO's issued between two thousand, nine and two thousand eighteen. And from that one, thousand, nine, hundred, sixty, two thousand eighteen period, there has never been a default for the triple eight trunch, and only one default for the AA trunch. Now as you know, we are in a pandemic and defaults within the High Yield Bond and leveraged loan space is increasing. Fitch estimates the twelve month default on leveraged loans is four percent, and that more than two hundred billion dollars of leveraged loans will default through year end twenty, twenty one. Adequate to a two year cumulative default rate of fifteen percent. Just because leverage loans are defaulting doesn't mean all the different tranches of a coo is experiencing a default. So a report on the wall, Street Journal from mid May that showed about ten percent of Cielo managers have been diverting cash flow away from equity investors and going to the debt tranches, which means there have been default that are starting to impact that junior equity trunch. What is different from this cycle, though is leveraged, loans are more risky and we discussed that in episode to a six. The covenants on these loans are less restrictive. The credit quality is lower. The financials are weaker and so we should expect defaults to increase. Question is will see a low default and other defaults and other loans impact banks to where we should be worried about our savings or investments that we might have in banks. In banks securities. Including their common stock and their preferred stock.
Expand 2- burst 2
"Maybe with a delay of twelve months if the company decides to part ways with the community. Open seuss wants to close the leap gap. Gerald pfeiffer plans to do this. In a three step process one merged the code bases for the intersection of open seuss sleep fifteen to and Sousse lineker enterprise, fifteen sp to as much as possible without loss of functionality or stability to in parallel to classic open seuss Sleep fifteen dot to create flavor leveraging SLA binary, leading to an intermediate release in the October, twenty twenty timeframe three build open seuss leap fifteen dot, three with SLA binary included by default, assuming community agreement. Get turned fifteen originally released on April seven, two, thousand, five over the past fifteen years at changed workflows.
"twelve month" Discussed on Side Hustle School
"<Music> <Music> <Advertisement> <Music> <Music> <Music> <Music> I love the concept of <Speech_Male> experiments especially <Speech_Male> when they're in this <Speech_Male> format of a series <Speech_Male> the twelve all <Speech_Male> month series of experiments. <Speech_Male> What <Speech_Male> did you do for that? <Speech_Male> What kind of experiments could <Speech_Male> you begin in the new <Speech_Male> year or it could <Speech_Male> be any time of course if you're listening <Speech_Male> later doesn't really <Speech_Male> matter? It doesn't have to be <Speech_Male> twelve months either. It <Speech_Male> could be quarterly. Could be like I'm going to do <Speech_Male> different projects for <Speech_Male> different experiments. <Speech_Male> You know in twenty twenty <Speech_Male> or whenever it is <Speech_Male> or maybe it's <Speech_Male> going to do four entirely <Speech_Male> different side hustle <Speech_Male> ideas in <Speech_Male> an try one <Speech_Male> for a while. They'll try another <Speech_Male> one. We'll see at <Speech_Male> the end of the year or however <Speech_Male> long the time period <Speech_Male> which <Speech_Male> one I want to focus on <Speech_Male> going forward <Speech_Male> sometimes it really does take <Speech_Male> trying out a bunch of different <Speech_Male> stuff before you figure <Speech_Male> out okay. Here is where <Speech_Male> I'm gonNA find. Traction <Speech_Male> that is absolutely how it's <Speech_Male> been in my life and career. <Speech_Male> I'm <Speech_Male> not surprised to hear that this process <Speech_Male> worked for Sammy as <Speech_Male> well but <Speech_Male> of course it takes. <Speech_Male> It takes courage to <Speech_Male> try something that you know <Speech_Male> might fail <Speech_Male> or it might not <Speech_Male> work out the way that <Speech_Male> you want. But hopefully <Speech_Male> it's going to eventually <SpeakerChange> get you <Speech_Male> closer to your ultimate <Speech_Male> goals and that's <Speech_Male> why you try it. Okay okay. <Speech_Male> So what are your goals. <Speech_Male> One of mine is <Speech_Male> to serve you every day in two <Speech_Male> thousand twenty through the all <Speech_Male> New Year of interaction <Speech_Male> which is coming up in <Speech_Male> just a few days <Speech_Male> at least a begins in <Speech_Male> a few days and it's going to go for <Speech_Male> <Advertisement> a long time. Three three <Speech_Male> hundred sixty five days to <Speech_Male> be precise <Speech_Male> okay. Inspiration <Speech_Male> is good but inspiration <Speech_Male> with action is better. <Speech_Male> Today's <Speech_Male> <Advertisement> show notes are outside of <Speech_Male> <Advertisement> school dot com slash <Speech_Male> ten ninety. Two <Speech_Male> <Advertisement> One thousand thousand <Speech_Male> <Advertisement> ninety two for Episode <Speech_Music_Male> One Thousand <Speech_Music_Male> <Advertisement> Ninety to <Speech_Music_Male> enjoy the rest <Speech_Music_Male> of your year and take care of <Speech_Music_Male> yourself <SpeakerChange> my name. <Speech_Music_Male> Is Chris Gallego. <Speech_Music_Male> This is science <Music>
"twelve month" Discussed on Side Hustle School
"Oh my gosh. We are almost at the very end of two thousand nineteen. I hope it has been a positive transformative year for you. Whatever the case may be who years coming up in just a few days so that is exciting new and fresh? Now listen when you are out there trying to figure out what works for you. You're trying to set up your side-hustle your small business. Whatever it is what is the best approach? Okay you're trying to figure it out you've done inventory of your skills you've ask yourself what you like to do etc what you could get lucky. And the first thing. He tries a big success. That does happen sometimes. You know and I think nice work if you can get it all right but if it doesn't work you could take the management consulting approach and do a lot of research investing your time on the front end to avoid wasting time later later. Nothing wrong with that at all but you could also try a series of experiments. That's what we're GONNA look at. Today is a youtube channel or a blog or podcast. The best fit. What about an online line course or a dedicated social media effort or something else altogether now? It is true that you can't do it all of course but when you're learning this series of experiments might help you find what you enjoy. Why and what's most effective for you? Then you can stop doing those other things and focus on what works. Welcome to school. My name is Chris Calico and what I just explained. That's what happened in today's story. After twelve months of these experiments this career coach will look at found her ideal clients with a resume. Writing Service. Twelve months of experiments leads. Coached coached clarity. That story is coming right up. SONESTA school is brought to you by emotion hosting the same service used for several of my websites. Sooner or later your your hustle is going to need a website and you'll need reliable web host after trying a lot of different companies doing a lot of different things over the years. I now use emotion and they have an amazing deal for a limited time. You can get a complete hosted account with everything you need starting at just three dollars and ninety nine cents a month again starting at just three dollars ninety nine cents a month. Check it out outside of school dot com slash website. That's side-hustle school dot com slash website. They say breakfast is the most important meal of the day at AC hotels we agree. That's why European inspired breakfast features. Shoot a slice razor thin and fresh croissants imported from France all served in our AC kitchen talk about a wakeup call. AC hotels. The perfectly precise hotel.
"twelve month" Discussed on Heartland Newsfeed Radio Network
"They've been around for several years in their their big that they they were first mover so but you know they haven't kept up. They haven't haven't <hes> added other cryptocurrencies as Bitcoin has become less and less accessible to ordinary people. One thing I really don't like is that they have recently implemented some sort of tier system where you're allowed to sell up to one thousand euros worth south of Bitcoin in a twelve month period now after that it's very new. I only discovered recently after that you have to submit K._Y._C.. Oh no no. I don't know why they yeah yeah. That was a horrible move on their part. That was the whole point of local bitcoin. Dot Com was to avoid the K._y._C. except with the ordinary person who was the seller that you were buying from <hes> right evidently though they're going on with their insanity K._y._c. seems to be the subject of the day which is why local BITCOIN DOT COM Roger. If you're listening please at a redirect for Exchange Stop BITCOIN POINT DOT com.
"twelve month" Discussed on KLBJ 590AM
"A twelve month calendar and using social media. They'll be back in a few weeks to detail. The next phase of the expansion plan for commissioners. Eric, like of NewsRadio, kale J J, radar weather watch for today. We'll see sunshine mixed few clouds shower thunderstorm around this afternoon. High ninety five and then a threat of strong thunderstorm late tonight low seventy from the weather center, I'm meteorologists spill. Tiger eighty seven and Pflueger Ville, I'm Robert would get news on demand radio KLBJ dot com. Hi, I'm Jay Farner CEO of Quicken Loans. Thirty percent of Americans who are planning. Home improvements of five thousand dollars or more will pay for those renovations, with a high interest credit card that may not be a great idea, a better idea maybe to take cash out of your home with a Quicken Loans. Thirty year fixed rate mortgage. The rate today are thirty year fixed rate mortgage is four point one to five percents. APR four point two two percent. Call us today at eight hundred quicken or go to rocketmortgage dot com. Eight hundred feet receives disintegrate, call for cost information and conditions. Equal housing lender. MLS number thirty. This is a special announcement for men with e d a local medical clinic is offering free doses of a breakthrough eighty medication to the I seventy five men who call now. This offer is to spread awareness about a treatment that's ninety eight percent effective even for men who can't take prescription eating medications you'll receive a personalized custom blend of the latest FDA approved medications formulated to treat sexual performance problems caused by diabetes, cardiovascular problems, low testosterone or depression. Your appointment will be at a private and professional medical office with a doctor representing a physician network that has helped over fifty thousand men regain their performance in just one office. Visit if you thought your symptoms were untreatable don't miss this opportunity to get a free dose of a highly effective rapid acting medication. This offers limited to the next seventy five men who call you must act now to reserve your free dose of this breakthrough treatment. That's eight hundred nine four seven thirty three hundred. Eight hundred nine four seven thirty three hundred eight hundred nine four seven three three zero zero. Fact, we all love video doorbells voice assistance, have changed our lives. We can control our home with a touch indoor and outdoor cameras. Help us keep watch. We went to guard our digital lives and take security with us on the go. With eighteen you can have all of these things, combined the twenty four seven monitoring for the most trusted name in home security, ADT real protection. Visit ATT dot com to learn more information. Eighty dot com..
"twelve month" Discussed on The Chalene Show
"Now menopause is described as a twelve month period without having appeared if you have a cycle, and then you don't have a cycle for twelve months. That's considered to be in menopause. Now, if you go, let's say eleven months, and then you have your cycle. Well, then you're still actually considered Perryman apostle. So it's going twelve months without a cycle. That's considered being in menopause. Okay. So I've shared with you the symptoms the side effects. What you get to look forward to as you approach your Perryman Apaz stage of your life or even menopause, but what's really going on? And where do you actually have control one of the things I think is most concerning what people really need to understand when it comes to Peri menopause is that it's a combination of things and by applying a multi. Faceted approach to taking control of this. You can actually diminish many of these symptoms and improve the way you look and feel one of the major contributors to the way that you feel and many of these physical symptoms of paramount Apaz is the result of having muscle atrophy combined with lower energy. And the reason why this is happening is because as you begin to diminish the function of your ovaries, which are responsible for sex hormone production. Well, what happens as we begin to produce fewer sex hormones, right? Because from nature's standpoint we don't need to reproduce. So another hormone kind of takes over and that is your stress hormone so the sex glands start to play a diminished role and your adrenal glands. Tend to play a more prominent role and this happens slowly, the shift in prominence from sex glands to adrenal glands. Now, you're Drina glands are responsible for the production of your stress hormones stress hormones like cortisol. They we go you. Remember that cortisol is the hormone responsible for telling your brain to tell your body to hold onto and store body fat..
"twelve month" Discussed on The Chalene Show
"No, it doesn't sound that fun. Okay. But keep listening because in this episode, I'm going to share with you things that you can do to minimize these symptoms. You don't just have to roll over and accept them. I'm gonna share with you some strategies. What you need to understand is still within your control girlfriend. Now menopause is described as a twelve month period without having appeared if you have a cycle, and then you don't have a cycle for twelve months. That's considered to be in menopause. Now, if you go, let's say eleven months, and then you have your cycle. Well, then you're still actually considered Perryman apostle. So it's going twelve months without a cycle. That's considered being in menopause. Okay. So I've shared with you the symptoms the side effects. What you get to look forward to as you approach your Perryman Apaz stage of your life or even menopause, but what's really going on? And where do you actually have control one of the things I think is most concerning what people really need to understand when it comes to Peri menopause. Is that it's a combination of things and by applying a multifaceted approach to taking control of this. You can actually diminish many of these symptoms and improve the way you look and feel one of the major contributors to the way that you feel and many of these physical symptoms of paramount Apaz is the result of having muscle atrophy combined with lower energy. And the reason why this is happening is because as you begin to diminish the function of your ovaries, which are responsible for sex hormone production. Well, what happens as we begin to produce fewer sex hormones, right? Because from nature's standpoint we don't need to reproduce. So another hormone kind of takes over, and that is your stress hormone. So the sex glands. Start to play a diminished role and your adrenal glands tend to play a more prominent role and this happens slowly, the shift in prominence from sex glands to adrenal glands. Now, you're Drina glands are responsible for the production of your stress hormones stress hormones like cortisol. There we go you. Remember that cortisol is the hormone responsible for telling your brain to tell your body to hold onto and store body fat..
"twelve month" Discussed on KOA 850 AM
"Half of Americans have applied for a retail credit card and ninety four million impulsively sign up for one at checkout. They they say, hey, if you sign up for our retail card, you get a ten percent discount. Well, yeah. That's because they're charging you thirty percent to use the card and watch out because some of them thirty six of them offered deferred interest. You know, hey, use the card and as long as you pay back in a year, no interest. Well, let's say you buy something on the eighteenth of the month. Well, the last payment is due on the thirtieth of the month prior to that. Right. That's twelve months out. But they send you those bills. But they send you the bills at the end of the month. They don't send it to you on the eighteenth. Which means if you make the regular payment monthly for twelve months your last payment will in fact be after the twelve month anniversary date and they will retroactively. Paying you for all of the interest year to date. Yeah. Cheeky devils. Indeed. So please don't use retail credit cards. Hey, something else. I want you to watch out for it halts and happens year end this time of year has your financial adviser told you that he's leaving his firm, and he's joined another firm, and he wants you to go with him. Be very careful. You gotta ask yourself. Why would the adviser believing chances are it's because he was paid to do. So he might have gotten a big fat cash bonus or a big fat loan. He'll never have to repay. There might be some other economic incentive that the advisors getting to leave. Why would the new firm be willing to pay him that bonus that recruiting bonus why because they're expecting the advisor to bring all of his clients and all of those assets with him to the new firm, but just bring in clients and assets doesn't make any money for the new firm but switching you out of your current investments? Could having you sell what you own to buy the new stuff offered by the new company, and that could force you to incur capital gains taxes commissions sales charges higher costs, you might incur higher risks. You've got to evaluate if your planner. Ever says to you. I'm leaving my firm, and I want you to come with me, you need to understand the motivation of the planner and doing that is really offering this in your best interest or simply in his own best interests at the very least, you ought to talk with a firm that you're currently at just say, hey, what's going on? Why did my adviser leave and you guys give me your argument as to why I should stay and their argument, and that way you can compare. And I think you'll discover that in many cases going with the new advisors. Not a good idea. If you have an adviser who has told you is leaving. And you're not sure what to do about it..
"twelve month" Discussed on The Art of Manliness
"Zero to twelve months experience and Gracie combative is distillation of over six hundred techniques down to the. Four thirty six that we have been teaching the US army for about the last twenty five years. So you basically the mindset of that program is you might not be able to commit ten years to jitsu, but if you can commit, you know, six months, eight months, twelve months. Every single technique that you learned during that twelve month period is going to be something that you absolutely can't live without like, literally, these are the nuts and bolts of jujitsu. And oftentimes schools don't have a beginner program at all. So you might show up to a BJ school and they say, okay, come on into class, and you're in a class with Brown and black belts, and you're a white Bill. And obviously in that case, they're going to be teaching tailoring to the more advanced students. So you just become a grappling dummy. And that's why so many people have tried you jitsu and had negative experiences is because schools don't do a good job of creating entry level, beginner programs that have no intensity, no sparring, no fighting there. Literally just learning the pieces of the puzzle. They're learning the alphabet. In those beginner. Thirty six techniques twenty three classes. Once you go through that program, right? And here's the cool part. It's a twenty three lesson thirty six techniques, twenty three one hour lessons. It's a cyclic program. So of today's class number twelve, tomorrow's thirteen fourteen and it goes through the entire month like that. And the best part is this program that we created in that all of our schools teach, I can only speak on behalf of ours. That program you can start at any time in the cycle and you can complete the Twenty-three lessons in any order. So this is where the kind of the real genius of the curriculum is, is that a beginner can show up literally on class number twelve, have zero experience ever doing jujitsu do that class and not feel overwhelmed or confused or like they're missing pieces of the puzzle because we teach every single lesson in the Gracie combative program as if every student is there for their first time so that you can imagine for a beginner is very important because otherwise you're always feeling like you're missing pieces of the puzzle and why don't I know the moves that they're referencing and what are they talking about in the language being used? So confusing. That never happens in our program. You come in and you're taking care of every single class in what you do is you keep swimming in this pond. This Gracie combat as pond for, like I said, eight to twelve months. Once you graduate, you take test on all those thirty six techniques demonstrating high proficiency, fluidity muscle memory. And once you have those core concepts understood, then you go into another program and it's like, now you're in the ocean of ju jitsu, right? But you don't go into the ocean until you can swim in a pond or a pool, and that's the analogy, and that's the situation we've built and why are schools are growing at a rate that few others are is because we see we capture and keep the beginners so safely. And so effectively, you kind of engage in jujitsu in a way that they can actually learn and be proficient from day one. It's like when you know to surfing school and literally the first day you go to surf, you're standing up and you're writing waves. And every day after that you're writing waves, you're writing waves. You're writing waves. We've figured that out for jujitsu. Whereas most other schools you show up to surf camp and they say, here's a board, there's the waves. Go out there, figure it out and you're struggling for the first six months. You'll eventually learn how to serve, but it sucks for the first six months to a year. And then finally, you poke your head up and you go, hey, I know how to serve. But the question is how many people even last six months swimming in the ocean with the board and crashing waves..
"twelve month" Discussed on WLS-AM 890
"Eight hundred ninety billion dollars is the deficit over the last twelve months that's the twelve months through August. And that's four and a half percent of gross domestic product you. Remember, we talked about not wanting to go over three percent. And by the way, this would be a specially during good times. All right. We don't want to go over three percent of gross domestic product with the deficit spending because it becomes harder and harder to do. So. Presents more of a longterm strain on economic growth. Well. Four and a half percent of gross domestic product that is what is represented by the last twelve months and. That's the biggest figure that percentage is the biggest figure since may of two thousand thirteen and of course, in may of two thousand thirteen we were just a few years removed from the financial crisis now were a decade removed from the financial crisis. So that's what's going on out there. And it's all because of spending spending is doing it. When we look at the receipts side, they're almost flat. If you take it's amazing despite the economic growth, I mentioned real GDP up two point eight percent in the last year. That's a good figure despite that the twelve month, total federal receipts almost unchanged. It's increased three tenths of one percent over the twelve months through August. That's less than one third of one percent. But look at the spending. I mean, I don't know how the freedom caucus in congress can can deal with these numbers because they used to stand for fiscal responsibility. Until they advocated that. About a year and a half ago six and six point six percent spending growth. And that's the most since November of two thousand fifteen six point six percent spending growth almost no change in federal receipts for the twelve months through August. I mean that is amazing. But that's how we have run this deficit up, and then all gets piled onto the national debt, which is in the low twenty trillions and growing with these deficits, I guess one of the most remarkable things that I've ever seen in Washington is the abdication of fiscal responsibility by those that formerly represented fiscal responsibility. There are those in Washington, I certainly the freedom caucus in congress. That stood up strongly stoutly for fiscal responsibility year after year and then about a year and a half ago. They just they advocated, and you don't hear much about it. Do you even in a midterm election year? You just don't hear much about it. And here we are. Now, why is this happening? Well, of course, corporate tax receipts have fallen out of bed on a year-over-year basis. Corporate tax receipts are down twenty two percent. That's the biggest drop since may of two thousand ten of course, back then corporate tax receipts were down because corporate profits had gone down so much in the recession back in zero nine well now we have corporate tax receipts down twenty two percent. You're the reason is obvious. The tax changes reflected much lower rates. The corporate rate was taken from thirty five to twenty one. And there you go and remember we've had a steady growth in nonfarm payrolls. But even then we've only had a six tenth of one percent, your your gain in employment tax receipts as the lowest since two thousand twelve because once again. We have not had much wage growth. I was looking at the new numbers they came in this week. There are two numbers that you use to look at real wage growth, which is the only thing that matters is of inflation adjusted wage growth known as real wage growth. Well, here are the numbers over the last twelve months wages have risen two point nine percent. And inflation consumer price index inflation has risen two point seven percent. So the difference between the increase in wages and the increase in inflation is known as real wage growth where you can actually get more for the money that you've earned and that is two tenths of one percent two tenths of one percent to put that in simple terms that would mean that. A year ago, a one hundred dollar figure would now adjusted for inflation be an adjusted for wage growth be one hundred dollars and twenty cents and that twenty percent real increase on a one hundred dollar example would represent the real wage growth. That's why you hear so much pushback here. So many complaints about people that they're not getting ahead. How many times do you hear from people that say they're not getting ahead in terms of their economics? Well, the reason they say that is because of that number. I mean, if you're real wage growth as gone from one hundred dollars, for example, the one hundred dollars and twenty cents which is two tenths of one percent on a year of year basis. Well, it's not surprising. Then that we've heard from people say, you know, hey. I don't really feel like I'm getting ahead. Very well. You're not you're not getting ahead. Two tenths of one percent in real terms. And it's understandable. Why people feel that way we are taking your calls on the toll free line one eight hundred nine three four.
"twelve month" Discussed on WSB-AM
"With investing for twelve months. You should not put any money at risk that you're going to need the next twelve months. Instead, what I'd want you to think about is maybe putting money in a short term cash like investment, you know, maybe something along the lines of a twelve month CD money market T-Bills keep the emergency fund as safe as possible makes sense. Now, what about investing over the next four years is that a long enough time horizon to be in the stock market. Yeah. I mean, four years is in the range of where I generally feel comfortable with people holding stocks. But here's the secret. Okay. You can still in vast. But you do not have to hold an all stock portfolio. Instead, you know, think about holding a mix. Okay. Stocks and bonds and cash this is what this is what an asset allocation is and for this. You know, Zach you might look into some sixty forty stock bond split for those investments now when it comes to investing all at once with the lump sum versus the alternative had of dollar cost averaging. And that's investing a little at a time over a long period of time. What are your thoughts about those two options? Well, here's the thing there. There's some pretty compelling research that says investing the lump sum amount is better. Vanguard looked at this. And they used a sixty forty stock bond portfolio that I just talked about going all the way back to nineteen twenty six vanguard found that the lump sum approach outperformed dollar cost averaging about two thirds of the time so again lump sum. Yeah. Performed dollar cost averaging two-thirds of the now how big was the difference in returns between the lump sum, and the dollar cost averaging pretty big vanguard found the lump sum strategy earned on average two point four percent more than the dollar cost averaging over a twelve month time horizon now two point four percent might not seem like a lot, but suppose that takes four hundred grand and because he's a younger guy at thirty eight. I mean figure out the difference in earning an extra two point four percent over thirty year time period. So look mean, you always wanna find the least amount of risk that you gotta take on to reach your goals. It's too much for you to invest the lump sum all at once just go the dollar cost averaging route. We do it all the time for clients a little bit at a time for a period of time or adjust your asset allocation that stocks bonds cash mix to a level that you're more comfortable with you. Gotta look forward if you could use some help looking forward head over to investingsense dot com. Type zip set time to start a conversation with their local team because this money this money could be working a lot differently for you coming up. Andy will get deep into a portfolio that has been sent.
"twelve month" Discussed on Pet Life Radio
"Month for you and your pooch again, it sparked box dot com slash pet- life, and you'll get a free month of bark box when you subscribe to a six or twelve month plan. We're just gonna take a short break, and we'll be right back. Stay tuned. And then, you know. Well, thank you so much for coming on bets for pets and telling us all about the daddy. Did thank you for having me..
"twelve month" Discussed on WTMA
"While providing them with financial assistance could result in a twelve month jail term can you believe that clint you like that the like that rule under the terms of a new law helping migrants legalized their status in hungary by distributing information about the asylum process here that you're rats and the aclu hear that or providing them with financial assistance george could result in a twelve month jail term in a separate measure the government changed the constitution and make it illegal settle foreign populations in hungary he knows it's an existential threat to christianity and europe itself as we in america know what's going on here and i'll leave it at that because i don't really wanna talk about immigration today i mean it done all i wanna do on the subject i've given you the opening you know my sentiments on the issue you know what i think needs to be done you know that i think that the peace next left in america are suicidal and they want to drag us all over the cliff but i'll tell you for one i'm not going hell no i won't go oh no i won't go my grandfather didn't flee desire of russia so that i could live in a third world hellhole my grandfather didn't flee the czar of russia so i can live in a nation where i'm a stranger in my own land my grandfather didn't flee the czar of russia so that i would be afraid to walk down the streets of america because i wouldn't know what city i am in but again it's rock and roll friday it's any topic is fair game we don't have to get stuck on that and clinton it to the next rock and roll song i picked while we're warming them up and they're calling eight five five four hundred seven two eight two what is this solely for people who grew up in america certain number of decades ago actually can understand rock and roll dramatic it's a separate language what is being that up what does that mean what's a secret message gets a coded message from michael savage to the.
"twelve month" Discussed on Lights, Camera, Podcast
"Again right now again you know you wouldn't know because you have never really seen him up movie so fucking moving it stunk i'm sorry didn't did you that's no that's care no because it wasn't good one of the twelve month movies you can't say you've watched so one that's i was up at moving not the anyway regardless this is what they said it is only that offense deliberate choice to invoke and commercially misappropriate sesame name in goodwill in marketing the movie and thereby cause consumers to conclude that sesame is somehow associated with the movie that has infringed on and tarnished assessment street mark and goodwill says no sesame street tagline has confused in paul viewers but like i don't know maybe you're right trill but at the same time i think the people it's confusing are probably watching the trailer so then like legally like i i mean for sure probably have grounds on this i mean i'm not even arguing that not gonna pretend i'm a lawyer here what i think that's i don't actually think they're confusing people who do consume like the sesame and if you're a parent and you're confused by you're just a fucking idiot i mean that's bottom line on i think that a re look they got to look out for the business as somebody who loves parodies and has oper rated parody accounts in the past like i liked the parody aspect but yeah sesame street's gotta look out for the street man it real question is which sesame street character they send a court to defend themselves who'd he thinks the best adept to represent them sammy single.
"twelve month" Discussed on Bigmouth
"So what is it that makes i haven't most fitness into my busy schedule that sets this apart from you stunned the political drama which can often be very funny russell t davis writing dialogue is hilarious lettuce that was this movie find the news on b movie cargo is now streaming on that fix mountain freeman and his family are in the straighten out but seeking sanctuary from a zombie outbreak of course is that it's gonna be about pandemics without giving too much away he ends up and loan carrying his baby rosie in a package on his back and with very urgent reason to get to safety that's a taste i people of saying the first paper who still baby sitting at hunting potties if you wanna give this baby a second chance today all's twenty two it's not gonna happen i don't think dole's on the horizon that was conquered from netflix motion freeman has gone from being the offices nice oh bore pot to man of marvel films and hollywood possibilities now he starts starting this walkabout meets short movie in which a couple in the twelve month old baby offset adrift we can't give too much away linda quite a fan of this one can you talk for did like basically this is based on a seven minute short was made by actually ben howling and you'll under i'm kate australian directors and developed into a feature film and it's about this man who basically is you know there's an epidemic we don't know yet his him and his wife and the baby on the boat and eventually his his wife is bitten by.
"twelve month" Discussed on KCBS All News
"In march the twelve month average unemployment rate for the labor market's youngest category get its lowest level since two thousand one cbs john bristow reports companies are shopping for younger talent these days if you turn that around and look at how full glasses employment rate for teenagers i think some folks would be surprised to know is actually right now at about thirty percent and that is not yet recovered from the great recession the employment rate for non white teenagers has been recovering even faster though and has recovered since the great recession and abigail wozniak labor economist with dame university says that number is likely to go up as companies hip to the fact that kids know a lot about technology are natural hires there is a severe worker shortage in the us partly caused by the fact that a lot of would be hires can't pass a drug test it definitely the case that in some counties and some sectors very large fractions of perspectives applicants are are not able to pass that screen but in other areas and in other sectors i think it's less of a challenge wozniak's is teens are also responding to another trend workwise we've seen fewer immigrants coming into the us for at least a decade now and teenagers are responding to that john bristow kcbs they weekend volunteers will be removing invasive plants shoring trails and repairing fire damage and dozens of state parks around california cbs gentlemen reports some reports still need helpers to sign up from santa cruz to the cinema coast at jack london state historic park and along the venetia shoreline the california state parks foundation needs volunteers for its twentieth annual earth day projects the sign up sheet is online at cal parks dot org at sugarloaf ridge state park in sonoma's county manager john roney will have plenty of workers and plenty of work for example at our park we had a lot of damage from the fires so we're going to have some people repairing trails that were bulldozed firebreaks other parks have a wide variety of trail related either clearing trails repairing water damage building new trails it's a wide variety of activities rony says we've learned a lot in the last few decades about designing parks better and those lessons are reflected in saturday's to do list some of the projects in the bay area are pge funded and designed to make parks more resilient in.
"twelve month" Discussed on My Favorite Murder with Karen Kilgariff and Georgia Hardstark
"Through mmhmm zinc is covered in tiny samples so this is perfect for me this year kind of bok this is my kinda boxed so if you want to subscribe today and save twenty percent off three six or twelve month subscription of your purchase of thirty dollars or more in what the fuck subscribed today and save twenty percent off a three six or twelve month subscription or your purchase a thirty dollars or more in the birch box shop perch vox israeli ten dollars a month but when you sign up for a three six or twelve month subscription with their code murder you'll get it for only eight dollars a month so just go to birch bucks dot com slash martyr and use the code murder hello hey georgia karen and stephen doesn't care about pets curl long island he'll longtime listener has been mean to ray guys for awhile my little sister reba turned me on your show after you guys were on an affair ces podd even brothers i am a guy and sisters are binding ever shared interests and m fm and we are coming together to year new orleans new orleans this two different lines show at the end of january twenty eight team we're also crazy cat ladies and love the per cast stephen smiley face lafayette is a big catholic hub in southern louisiana there was a rumor going around town in 1987 that a satanic cult was looking to sacrifice a catholic priest along with the pregnant woman no list satanists like to do.