35 Burst results for "Wharton School"
"wharton school" Discussed on Bloomberg Radio New York
"The dean of the Wharton school at the University of Pennsylvania with a very timely book and it talks about the prepared leader. Yeah, a merge from any crisis more resilient than before. It's co authored with Lynn Perry wooten the president of Simmons university. We're talking Erica H James here. She's going to be joining us in just a few minutes. First up, though Charlie pellet, lot of news happening, not just in the after hours, but in today's trade. Indeed, we love it. That's what we do here at Bloomberg radio, and that's why you have been listening to us for decade after decade. Here's what's going on. The Dow, the S&P NES stack all declined today wild swings, traders overwhelmed by the many headlines that followed the Federal Reserve decision, along with fed chair Jay Powell's remarks and a Han is equity strategist at Wells Fargo securities and she was our guest right here on Bloomberg business week. I think the main driver in the knee jerk reaction was that the fed left the door open for a 75 basis point hike next meeting. The 75 basis point hike this time was consensus, but leaving that open and perhaps the hint that we might be able to tolerate a higher employment rate with the change in the fed's expectations for the employment rate and economic growth. All this combined seemed to signal hawkish for longer and equities major reaction was down. And with more on that fed decision and the news conference here's Bloomberg's Vinny del giudice. Fed officials are playing catch up after underestimating the post pandemic inflation risk. Today's vote another 75 basis points lifts the benchmark rate to 3.25% the highest in more than a decade. That
"wharton school" Discussed on WNYC 93.9 FM
"77 and mostly sunny out there right now and look out for early afternoon showers and thunderstorms could be severe, gusty as well, mostly sunny and 89 for a high today, and then showers and storms likely before midnight. Weekend, sunny, dry, and temps in the mid to upper 80s. At 7 45. This is morning edition from NPR news. I'm Rachel Martin. And I'm a Martinez. The recently signed inflation reduction act has a lot of provisions for things such as tackling climate change and healthcare costs. But whether it really fights inflation is a little less clear, Mary childs of our planet money team wanted to take the act at its word and find out what effect will all of these new provisions have on rising costs, marry all right, so first off, how does one go about reducing inflation? So this is one area where economists basically agree. Inflation is a mismatch between supply and demand for all the goods and services in the economy. Too much demand, not enough supply. So the main way for the government to fight inflation is to slow down demand. To get everyone to stop spending so much money, even removing money from the economy. And does this law do that? Well, yes and no. It takes money out of the economy in a few ways, most notably through new taxes on big companies. It also ramps up tax enforcement, enabling the IRS to, for example, investigate people who haven't been paying their taxes. The government itself is also spending less, namely in healthcare through Medicare. This law lets Medicare haggle with pharma companies to get lower drug prices and gives other new mechanisms to keep drug prices down. But the new law also spends a lot in healthcare, too, by providing new subsidies and caps on prescription costs for people covered by Medicare. And so all this so far does save more than it spends in the end for a grand total of 660 ish $1 billion out of the economy over the next ten years, which is good to fight inflation. All right, now there's another part of this law, so tell us about the climate stuff. Yes, so it's a lot of spending. It's more than $350 billion on clean energy alternatives and technologies and other things. And it's great if you're worried about climate change, but if you are thinking narrowly about inflation, it's a lot of credits and subsidies to encourage people to go buy things, which means more demand more money into the economy right now, which is what we don't want when it comes to inflation. So the net savings in the law are too small to make much of a difference in fighting inflation. All the economists we talked to and also researchers at the University of Pennsylvania's Wharton school of business say that this law is overall effect from an inflation standpoint is basically zero. So Mary, I am not a Wharton school graduate. But it's definitely sounds like the climate section is a tough sell as inflation reducing. That's right, yeah, at least in the short term. But there is this kind of other element to it that's harder to price and indeed a lot of the analysis that you'll see doesn't take this into account. Because yes, those subsidies mean spending now and soon, but they can also help create a larger market for the things being subsidized. They can spur innovation, create greater supply. All of which should help bring costs down, which is good to fight inflation. But also, everyone having more energy efficient things, will mean less spending on energy in the long term. So, as an example, say you use the tax credit in the law to go spend money on new energy efficient windows. So that's bad for curbing inflation. Now you're spending money now, but your house will retain heat better for years, so your energy bills will be lower. And that's going to be disinflationary, just not right away. Right? That's Mary childs from planet money, Mary, thanks. Thank you.
"wharton school" Discussed on Code Story
"Whether it be slack, Discord, Twitter, through official integrations, open-source integrations, and compatibility with low code no code tools like zapier. You can connect just about any community tool to orbit, or you can build your own. Orbit gives you a single shared view of your community members and their activity. Identify future community champions, catch new active companies, spot influencers, and more. Without maintaining archaic, messy spreadsheets. Check out the product today at orbit dot love slash code story. That's OR VIT dot love slash code story. This message is brought to you by postmark. Let's face it, email infrastructure isn't the most exciting thing. And setting it up is no Friday night at your local disco. But it does play a critical role in most applications. For example, if your account confirmations or password reset emails don't reach the inbox, your users get stuck, support queues get flooded and your team pulls their hair out. That's where postmark comes in. With postmark, those email deliverability nightmares, they're a thing of the past. With industry leading delivery rates and API libraries in practically every language, postmark delivers. When all else fails, their knowledgeable world class customer support is right there when you need them. Postmark is a partner that takes care of delivering your email so you can focus on what matters most. Building your product. Check them out at postmarked dot com slash code story to learn more. That's postmarked dot com slash code story. Let's flip the scalability then. So did you build this to scale efficiently from day one or have you been fighting this as you grow and given the manual money transfer story earlier? I kind of know where you're going to go, but tell me about scalability. It's a bit of both, I would say, like we obviously try to have an eye towards scaling efficiently and being conscious of our own team members time. So when things like that transfer get to cumbersome, we basically just have a quick fire drill and force ourselves to automate it. But we definitely were fighting it a little bit. I can attribute that to a lot just some inherent roadblocks that exist in the prop tech industry and the world of real estate and property management. For example, we don't want to ask our property management customers to upload every single lease that they sign to our system on top of the other systems that they already have to upload that to. So they all have their own property management software. And a lot of the property management software is pretty old and antiquated, not your typical rest API that you would enjoy building stuff with. And but we were forced to integrate with those. And initially, even we were just starting out where nowhere close to significant in the industry, nobody would sponsor us the property management software partnerships teams wouldn't even respond to. They wouldn't even respond to our emails. So we've had to build workarounds, sort of like 35 excel spreadsheets of a rent roll, get dropped into an email inbox, like every day, and we've built manual parsers to grab all of those resident records and add them to our system. So little hacks and workarounds like that is the way that we've been fighting the scalability issues. And now we're sort of building and have built a couple of those full fledged integrations with the property management software APIs, which is going to be a lot better. But again, that took a year and a half. Well, as you step out on the balcony, and you look across all that you've built. What are you most proud of? I think the couple of things I'll highlight first is the difference that we make in the lives of our residents. I saw a tweet a few weeks ago that said like some Wharton school grad was asked with the average salary was in the U.S. and said like a hundred K or something like that, I'm probably botching that quote. It's hard for a lot of people to understand the true average American and what that means, I think. We at stake almost exclusively work with sort of those everyday Americans. They make 30 to $40,000 a year. A lot of them, 65% of them, in fact, have more money in their steak checking account than they do in any other bank account, which we can verify because we have visibility into those other accounts. And the customer testimonials that we get from those residents, we also try to do like little surprise and delight gifts. So last week somebody told us that they were saving up for a new smartphone. You know, we kind of ask people what they're saving for with their monthly cash back that they earn from stake. And he told us he was saving for a new smartphone and so we dropped $300 a day's account to help them buy the phone. You know, he was just like, so grateful. And little moments like that, I guess, where you can see how much potential we have to make a big positive impact in so many people's lives. As we get closer to our long-term vision, those are definitely some of the moments I'm most proud of. And then also just the connections with teammates. Honestly, like waking up every day and working for 8 plus hours with the same people for years plus, you know, I feel like a lot of the people I work with at stake have become lifelong friends. Yeah, I just really appreciate all the people I work with. But let's flip the script a little bit, so tell me about a mistake you made and how you and your team responded to it. We don't have a ton of great automated testing at stake. That's probably a mistake that I've made like architecturally and strategically. We have opted for progress on user facing features instead of protecting that developer experience and building comprehensive automated testing. So I honestly apologize for that upfront to all of the candidates that we hire or in any final interview. I sort of say like, hey, by the way, we don't have a great automated testing. Are you okay with that? And what sort of strategies will you use to combat that sort of ongoing in the day to today job? I guess the team responds with understanding, of course, they say, I think we should probably build more robust automated testing. So what does the future look like for the product and for your team? The next 6 months, we are planning to finish up our integrations with the rest of those property management software providers that our customers are using. Definitely going to use that data to sort of expand and hone in our core value proposition, if you will, which is more cash back for the renter and outperformance and revenue management for the property. So we're planning to hire some data savvy engineers, customer success, representatives, and other team members to help build and train our customers on how to use it. And then build and train an intelligent system that can predict what the right cash back offer is for each individual goal that the property owner might have at their property, whether that's signing new leases, signing renewals, we've even given rewards for little side maintenance projects in single-family homes like changing the air filter, customized little revenue management models for each of those individual campaigns is what we call them. Definitely something in the medium term road map. And then at the same time, scale sort of our growth team. We have a pretty long sales cycle, like I said, we're asking people to send us 5% of their.
Manchin Casts Doubt on Biden’s Social Policy Bill
"Headline White House scrambles to salvage build back better Bill by Christmas. Now the Financial Times described as a 1.75 trillion, it's not. According to the congressional budget office, it's a $5 trillion bill. If you do what all Congress is doing, which is extend their one year programs and blow through their deadlines unless they have sunsets in them. So it's not 1.75. It's trip 5 trillion, and that's backed up by the Penn Wharton school analysis. Again, if you say, oh, this is a one year Bill. And we're going to end all these programs. We start, yeah, it's 2 trillion them, but it's not. It's 5 trillion and Joe Manchin stopped in the hallway. And according to The New York Times, he said that they need to pause for peace. He said that anything is possible here, and he's still engaged in conversations with The White House, but listen for yourself. Joe Manchin talking to CNN's Manu Raju yesterday cut number ten. But whatever we're considering doing or whatever Congress is considering to only should do it within the limits of what we can afford. And that means having a tax plan that's fair and equitable and keeps us competitive, but also makes everyone pay especially the wealthy pay their fair share too. See what that spins off and that's one 7 range then we should be spending whatever in that range as far as I'm concerned if it's whatever planet would be pre-K, child care and what you want in home care, then it should be ten years. It shouldn't just be one year three years or 5 years. And that would be, I think it would be very transparent for the puppy to see exactly what they'd be getting for what we're spending for ten years. So you won't support it if it needs programs or temporary. No, we're going to talk. We're still talking. I'm listening to everybody, but I'm just telling you you ask me about inflation is not transitory. It's alarming. It's going up and not down. And I think that should be something concerned about. Inflation is real. It's not transitory. It's going up, not down, that something we should be concerned about. And senator
Democrats Passed the Phony $5T 'Build Back Better' Bill
"So folks the Democrats passed this phony build back better act build back better it's tear down forever act They say it's 1.75 trillion The CBO says it's hundreds of billions in debt Other outside organizations that don't have their hands tied the CBO is only free to do certain kinds of analysis Like the Wharton school says it's actually closer to $5 trillion The vote was two 20 to two 13 One Democrat in a swing district in Maine voted against it But that's it Every other Democrat like God heimer God Heinrich Schmidt In Bergen county New Jersey All these frauds and Virginia New Jersey all across the country Oh I'm a moderate California Every damn one of them voted for this
"wharton school" Discussed on What's Next! with Tiffani Bova
"Or another one at has a very high likelihood that there will be at least two steps back at some point right there will be some some mishaps and one of the most important things about change is having some kind of plan to get back up again when you hit. Those roadblocks one of my favorite studies. That i describe in the book that relates to this is a study that was done by one of my colleagues mercer sharieff at the wharton school in suzanne shoe at cornell university of a really simple tool they used to help people stay on track and set big goals. That will be effective but not get to dis- dissuaded are or disconcerted when things go wrong because they will. It's a really simple study. Where if people are trying to achieve a goal they encouraged people to create an emergency reserve. Meaning if you say. Want to exercise every day. I'll use that example because it's a really easy one for all of us to relate to so you wanna work out. Every day of the week it turns out. It's better to say. I'm gonna try to work out seven days a week. That's my goal. But i'll get myself to emergency reserves. That's two days if something goes wrong. And i fall down. It's not gonna count against me. We'll stay on track. That's much more effective than setting a goal of. I'm going to do it five days a week. Which by the way is identical. Or i'm going to do it seven days a week by giving yourself a little bit of a little bit of wiggle room. Not too much in calling it. An emergency people end up being far more effective sticking to their goals because we need to recognize sometimes will fall down and we can't just throw up our hands and give up. I also did some research on the importance of flexibility when you're forming a habit so when people are trying to form a new habit it's important actually to be flexible and not too rigid in the way you try to form so rather than saying i'm going to do at the same time every day. We actually found that getting people to try doing it at different times leads to a more robust habit because when something goes wrong and you can't do it at your optimal time you'll formed a brittle habit if you're trying for too much consistency.
"wharton school" Discussed on Masters of Scale with Reid Hoffman
"But saying you trust your team and showing it are two different things as you'll hear in this clip with psychologist and author adam grant. He spoke with bob saffy on masters scale rapid response. And how for some ceos letting go is hard to do early two thousand eighteen. I went to a bunch of the most powerful ceos in silicon valley. I said i'm interested in running a remote friday expanded as a researcher and professor at the wharton school adam conducts these types of experiments to explore how to improve business practices. I said i'm curious about whether letting people work from anywhere one day a week could increase productivity and creativity without hurting culture and collaboration. They all said no thanks. I was pretty surprised by this. So i asked them why and they said things like well i don't want to open pandora's box. Because once we let people leave they might never come back and afraid that productivity is gonna falter and our culture is gonna fall apart and people won't work together. In retrospect that seems like a pretty pessimistic view of team culture but in two thousand eighteen the pandora's box view was also common leaders. Worried that his tributary workforce would mean the death of culture and productivity. Needless to say those attitudes of changed after pandemic imposed remote work proved so effective hilariously. At least three of these. Ceo's have announced that their firms might never return to an office. They were so resistant to rethinking the simple idea of just letting people work remotely one day week and now that they were forced to rethink. They've decided maybe we should work remotely all the time with hindsight. It's easy to see how wrong the ceo's been. The resistance to change was based on how they feared employees would respond to even a taste of remote work. They made an assumption and assume the worst right now. Your team deserves the benefit of the doubt. After a time of intense pressure and uncertainty we've seen teams around the world rise to the occasion. What they need now is for you to repay that. Entrust that's not blind trust. You can and should still evaluate performance and outcomes but be sure you're evaluating off actual data..
The Biggest Untapped Market Opportunity in the World
"Today's guest is my friend. Rahul sorry yogi from india Rahul is the founder and managing director of autobahn capital advisors advisor to the antion capital family of funds. His mission is to consistently identify the best ten to fifteen investment ideas from among the thousands of publicly traded indian corporations rojo graduated from the wharton school of the university of pennsylvania with a degree in economics and is the author of investing in india of value investors guide to the biggest untapped opportunity in the world a definitive guide on navigating the indian marcus published by john wiley and sons row. Welcome back to the program. It's been a while. Thank your yes indeed and so royal. I just want to jump in. Because you're you're just you're my guy in india like of and i've met a bunch of folks at conferences and so forth Folks that we both know. But you know when i really wanna know what's going on i i have to talk to you and i. I haven't even thought. I hate to admit it. I haven't even thought about india probably over a year and all like all i know about india's to look at a chart of the you know the india. Etf it's it's too far off my radar screen. I think it's too far off everybody's radar screen. I know you agree with that. Wouldn't yeah absolutely done It it has indeed been a while since we've spoken than it's been. What twelve years since you were here in southern india and janae with me and You don't we were driving it out and looking at stuff while yup it has. So is it at any given moment when i've talked you like sometimes you like well. The markets run up huge. And you know. I'm really cautious. Or you know it's it's way down and i'm really aggressively bullish or something because it is. It does seem to swing a
"wharton school" Discussed on Knowledge@Wharton
"To you by the wharton school at the university of pennsylvania. Oh in many of his going back into the office there will be situations where managers will be overseeing employees in the office for the first time somebody that was maybe higher during the pandemic and had been managing those employees virtually over the last several months it may have been doing that with dynamics now heading back into the office that are something that are much different than what they've been dealing with over the last year and a half. Rachel pacheco is lecturer in the management department at the wharton school and also with pens graduate school of education. She's a new book out looking at this issue of of managers right now. It is titled bringing up the boss practical lessons for new managers and she joins us for a few moments. Rachel thanks very much for joining us today to be here and happy to chat. Thanks i think this is a very interesting question. Set of questions that you pose right here. Was there something specific that you noticed in in wanting to do this book specifically kind of with the dynamics that were at play here in our culture right now thought actually The book actually came about about four years ago. I was a chief people officer in a quickly growing startup and what i realize almost immediately that you know our company was scaling but our people weren't and we had a whole bunch of new managers that had been promoted really early on in their careers Mainly because they were early members of startup. so you know. I went out looking for books that might serve the purpose of helping to upskill leave. Managers really quickly our current context. Even you know in in in the world of technology and You know all the things that have happened in the past couple of years. And i couldn't find one so i started writing tips and tricks to really to help my managers get up to speed as quickly as possible In in that's where the the book came from and i think in the past year with the social unrest with the pandemic With the the long-needed reckoning of Inclusivity and reducing diocese. Just needed a book that that spoke to managers where they are today and it sounds like from what you're writing about that realistically. Also part of the issue is that maybe there's not enough training in general for people that are kind of moving into this role for the first time. I think that's the the than than the nick of a dirty secret of of companies not just startups. The big companies also We're often thrown into the position of management without having built the skill or the capabilities to manage..
"wharton school" Discussed on Knowledge@Wharton
"Were released the sales totaled in the millions of dollars and also came before the most recent trouble at the auto company were disclosed since then it was announced that the ceo and cfo were leaving the company so the issue of when executives can trade and buy stocks is in focus once again wayne. Gay is an accounting professor at the wharton school and he was part of a new paper on the issue released earlier this month. It is titled determinants of insider trading windows. Wayne great to talk to you again. Hope you're doing well. I'm doing very well. Thank you thanks for having me. Thank you i i want to dig into the paper in a moment but this case of lordstown motors i. It's it is obviously one that has drawn attention. We know we've seen these types of issues pop up Before but this would seemingly be i it sounds like a textbook case around the issues of went executives can actually buy and sell stock or should be able to. Yeah so this one here. It seems to me i mean i haven't looked into the facts. You know in great detail but it does seem to me like a pretty cut and dry ample of of executives that Sort of engaged in behavior. They certainly shouldn't have had. And a case where the the the sort of corporate controls around insider trading were were either lacks or flawed or both so. Your paper looks at these windows win. Trading is allowed. Let's start there with those rules. And then what is occurring right. Now what do you think should be happening around these windows. Yeah so the point of our paper. I mean we all we see these kinds of events. The one you just mentioned and you know we know that there can be litigation the afc and sort of step in and try to enforce You know exa- you know good. Corporate practices and executive companies..
"wharton school" Discussed on Scientific Sense
"Yeah yeah it's it's interesting. i'm in But juicing losing something if the seattle manager is having reasonably call yep normal tones from those those structures presumably. That's that's gonna turn. The banks could extract. Yes so the question is why are the banks doing that. But again. I think this this comes down in heart to a sort of regulatory arbitrage. It's it's it's less costly for a bank to hold that triple a. rated security than that be rated loan right in in terms of the capital that they have to hold so so. That's certainly plays an important role. The other reason though is just the demand for safe assets triple a. rated securities right. This comes back to the first paper. We discuss the demand for safe. Assets is such that there's a premium for aaa rated security And so whether it's because there is no liquidity here but whether some sort of a convenience yield whether it's a money like in whatever it may be that right drives up the price of those assets and down and hence down the yield so that yet another rationale for this sort of wedge between the interest coming out of the the assets in the interest you have to pay to the liabilities rent. Yes when condition margot robie talked about lot of intermediation Between between different types of assets loans debt ceelo's and so on Do you see this intermediation more. Broadly at i'm putting investment banks including private equity slumps in there The ucs we look forward that need for intermediation declining or real getting replaced by a technology. So that that's a good. It's a good question Assert certainly we're already seeing a technology replacing intermediate intermediation varying degrees in existing structures. Right i mean you just log onto your retirement. Account a lot of that is technology from advising and offerings but in terms of a reduction of sort of the intermediary space. I'm not so sure that that's going to be reduced It certainly changing form from a very bank dominated Sector in the twenty first half of the twentieth century to a much more nonbank sector. I mean if you think about private equity if you think that the large private equity firms guild they don't just do buyouts right there. Full-fledged intermediaries have got real estate holdings. They've got credit desks. They're running clo's So you know intermediation in its broadest. Sense is so much larger than banks. I think we're seeing a real change or dynamism in the form and structure of intermediation as opposed to necessarily a a reduction in the in the size or scope. Yeah that makes that makes no sense. Do you think they'd be. This will lead to more participation. Or like you say different types of accompanies coming into the abs- absolutely i. I mean right when people talk about fintech. Isn't it just that right now. Look you know it's interesting. I was talking to someone at one of the bulge bracket banks one of their their some of their biggest competitor competitors. Now are the tech firms. Google apple so you know what intermediation is is changing drum and who does it is changing dramatically.
"wharton school" Discussed on Scientific Sense
"Mike yesterday's confessing. Michael roberts Finance the school of the university of pennsylvania is research spans corporate finance banking and surprising local. Michael thanks for having me gill. Yeah thanks for doing this. Island started to twenty fourteen paper essentially of capital structure. The leveraging of corporate america in which you say unregulated the us corporations to magically increase deck usage over the past century advocate leverage low and stable before nineteen forty five more than tripled between nineteen forty five ninety seventy from eleven percent to thirty five percent eventually reaching forty seven percent by early nineteen ninety s. That is that is a dramatic increase. Venison declared this michael. You think this has to be taxes than it has to be some benefit for cooperation to do that right boy. I'll tell you. Every every mba undergraduate finance course would certainly point to taxes as the first place to look but ironically i think if you actually spoke with cfo's they wouldn't say it was taxes certainly not based on the survey evidence That that might one of my co authors. John graham put together and so while there's clearly attacks benefit to using debt when it comes to financing it. It's really hard to find that effect in the data and it's really hard to to get cfo's to say that taxes are sort of a first order motivation for their choice of debt. Plus you know when you think about it. Taxes fell over. That period quieted by quite a bit. Might in the middle part of the century certainly personal taxes. But i think possibly in corporate taxes if i recall correctly Might have fallen quite a bit so taxes aren't the reason for that big rise. What drill debt. Yeah so. I want to be careful as an academic always at gill and and sort of hedge my bets here but i think if you put me on the spot i would say it would be a combination of of considerations beginning with sort of productivity growth and economic expansion there was just firms were just investing quite a bit more coming out of the war and so they needed funding for that and with relatively low interest rates. Certainly in the middle part of the century debt was fairly attractive. So so yeah go ahead. I is it. So is the manager of are they feeling that the food risky because of the economic growth prospects. And that is that is here. I think that's right. I think that's certainly in part of it. They see look. We've got investment opportu profitable investment opportunities. That's going to do two things one. It's we're going to be acquiring assets that can secure debt. So that's going to help. Lower the cost of debt. But we've also got You know optimistic thinking about it. Good cash flows to support payments on the debt. And i think that combination is quite.
"wharton school" Discussed on Scientific Sense
"Welcome to the site of accents. Podcast where we.
DoorDash Drivers Game Algorithm to Increase Pay
"For the delivery app. Door dash may have found a way to trick the algorithm that serves them jobs into offering better pave bloomberg profile their effort which is called hashtag declined now they encourage other drivers to decline all the lowest paid jobs to get the app to offer more money but to make it work. They need lots of drivers on board and that can be tricky with gig workers. They don't share a break room after all instead they're getting together online and facebook groups and on reddit. Lindsay cameron is a professor of management at the wharton school. Who studies gig. Workers and work doesn't uber driver herself for awhile. So there's no way for workers to have worker to worker communication via the app itself. There's no slack line or anything like that. So the few times workers are able to connect. It can be in person you know. I met other ride hailing drivers when i was at a parking lot or at the expect inspections station and beyond that. It's usually just these online forms. Which only a minority of drivers are active on the forms but for the people that are on the forms. These are really you know. They're like the virtual water cooler where people can share tips. How the platform has changed things like that now. Also gig workers instead of having a traditional boss or supervisor direct their work they are dictated by algorithms. That aren't always the most transparent. So to what extent or or gig workers able to sort of tease out. How these algorithms work as workers. You're just sort of doing these best guesses about you know based on your lived experience what you think the surge prices were gonna be or what do you think is a fair amount to except for delivery and then you're sort of guiding you're sort of making your own rules about what feels right to you or what's the best way to respond to the algorithm based on what you yourself you know are experiencing through your everyday work and
"wharton school" Discussed on Scientific Sense
"Okay and and this is something that the fed has never done before we talk about what the fed did in the cases of two thousand and eight two thousand nine the fed bottle lot of assets so-called quantitative easing but what the fed both back then was a tragedies in mortgage backed securities defend didn't by cope with bones and all of a sudden in march of twenty twenty overcomes studying in the corporate bond markets outflows from mutual funds holding cope with balloons. All of a sudden the fed says you know what. I'm going to now by cope with born to sort of help restore this this market and it was enough Interestingly the fed just made this announcement so the fed made one announcement on march twenty third thing started to come down but not enough and then another announcement in april ninth and things are come down a lot more. It was enough to make those announcements that the fed will be able to buy us. That really helped Restore as ability to these funds into the market. So you're absolutely right definitely For the fed to sort of say you know we are going to buy those wounds certainly soon beheld so in conclusion it is Do you see any new policies. You have any suggestions to do. Policies either in the context stalls what we talked about in terms of financial market prices and connection and the feedback mechanism between that and the decisions inside companies and We talked about a few scenarios where That could have some some lucy freights or in this financial fragility issue that you just talked about. Do you have any sort of a policy suggestions to make these things. Better yes Let let me stop. Maybe from the second topic we just talked about the financial fragility. I think you know people have to be cautious going forward How they analyze these events. What they make of them and what should be done going forward in in the following sense. I sort of hear this common claim that you know the was a bit of a meltdown in the markets. In march of twenty twenty. But eventually things go back to to normal everything was fine and even though the economic problems are still very seville the financial system to allow extent. Got back to to itself and we didn't see a major Financial geis's i think we have to be very careful with that because Following what i told you a few minutes ago.
"wharton school" Discussed on Scientific Sense
"I certainly think that helps us. So i would say probably yes. Starting from a position will ios likely underpriced. And you have a story to tell why your underpriced certainly helps ignite that in get the increasing in price going out otherwise i i think you're right that it would be more difficult to do it. Yeah yeah i i to the paper feedback effects as a trading and blue and the limits to arbitrage so this feedback effect w discussing The private information Going into real decisions use his feedback. estimates conflict trading behavior profitability of buying on. Good news And and and the congress is through to. It reduces the profitability of selling on bad years. So so once the implication of that. Yeah so you know the setting here is i. Think something closer to what you had in mind When you told me a few minutes ago that you have a hard time seeing a frenzy going on on the long side but you can easily see it going on in on the downside on the sell side And basically what will thinking of here is not a situation where a firm is financially constrained and this is why i'm saying it relates more to what you had in mind apollo jill making a decision And updating based on the price when making this decision. I think a good setting to to have in mind is an acquisition and we'll give a couple of examples in the papal. You know one is a famous case will coca cola was trying to acquire a quick votes bake back in two thousand announcing this acquisition and then the market is essentially telling them look. It's not a good ideal Do it because the stock price declines after they do it and then following the reaction of the market they go back to the drawing board and and after a few days say okay. You know what we changed. Our mind will not will not going to do it so the idea is that managers are announcing. They'll going to do something. The market reacts and then manages have an opportunity After afterwards after the market to go back and change in this case because they announced an acquisition and the market like it they went back and said okay. We'll cancelling the acquisition. You know there is the anecdotes along those lines. And they'll also a lot of large-scale empirical evidence to suggest that this kind of reaction to to market exists. So so the once you take this kind of dynamics and think about the allegation you realize that Speculators who played on negative information might not get their rewards as much as speculators who played on positive..
"wharton school" Discussed on Scientific Sense
"Who took part in game stop. They say that they believed The and some of them will tell you they truly believed that it was under undervalued That of this socal the Traders institutional traders that they underestimated the long term potential of game stop and amc and they thought that there was actually some truth in india. Deal that those are undervalued and that they will a good opportunity and then you see those messages. Being exchanged on the internet indebted and so on and people follow it and they stopped trading on it now at some point i think it of got out of control. I'm not gonna tell you that. The prices that game stolpen. Amc had at the peak justified. I certainly don't think they will But it could be that they will undervalued before and maybe there was some collection to be made. I think the frenzy is that people are just jumping on it Maybe more than they should. And then you see a huge Overshooting because of that. So i think the reality of it and certainly a lot of studies in financial markets. Both theoretically inappropriately. Basically tells us that you know it's it's subtle There is some updating of information. But i think what happened in this frenzy is that some updating of information led to sort of overly action and everyone is trying to jump on it at the same time y- sweetie interesting so so if then as sort of legs there underpricing office talking market recognizes underpricing And and people come in There's discontinuity in prices and prices take off and it over shoes But this mechanism that adjusting in the in the in the few papers is that the price take off. It has a positive effect on the floor. Home not necessarily just the manager's ability to make better decisions but rather in this case. amc skis Maybe new capital coming in right. Yes and so so so you need some sort of a startup process like that. Meaning that has to be some you know some significant underpricing in the stalk. And you know it's like starting a car not used the car stunt driving it and you know you're thirty dollar you go two hundred two hundred dollars per hour so so you need some sort of discontinue delight debt for this mechanism to work. I think it's early helps I don't know that you absolutely need it. i. I could imagine. A trading frenzy like this could occur. Even if you don't have an underpricing to start with. But i think that it certainly helps. I certainly think that those Sort of messaging boards the A forum When they ignited it and got the thing going. I certainly think it helped that they could say look. You have a stalk like game stop. it's a well known brand name It's been around for so long up. People are using it to buy video games to give gifts and Even though they don't go to the malls to the physical stores anymore they can still do it online. And now they're getting into the e commerce space or they have to go so they could tell all these stories of what's missing in the price and then use that as motivation to get people excited and stop buying the stock..
"wharton school" Discussed on Scientific Sense
"Price and making decisions based on the stock price and as i told you in the beginning you know they are taking into account the possibility that the stock price contain some inflammation And also taking into account the possibility that the stock price is noisy but they'll updating and just like we do invasion updating when we take some information in some noise and we put it together in the mix and we see what comes out so sometimes we make decisions that ended up being gone but we will still updating rationally. Okay so i. I think the joy is sort of out you know and maybe the jewelry is not gonna come in for a long time on whether those decisions are made on a rational basis on a beige noisy basis. I think it could be some nation of the two i can see. I think you make this pointed out under the paper can see this on the short side Because it's a reinforcing effect so if you give you know On the short side Stock price goes down. And if you aren't this right that it reduces gash flow to the flow it becomes centrally enforcing to the You know At it gets into this downward spiral right that that again. I can see really clearly off long side. I i find it difficult to see. Why capital providers would suddenly Suddenly russian and an imagined that the flu has you know so many positive energy projects just lying around the bar dissuade So that i'm going to go forward. It I guess it happens but i find it more difficult to to intone. Yeah yes You know i. I can certainly understand what you're saying and you're right that in most of my writings on the topic. I actually emphasized the sort of showed side on on this. And you're also right that for the short side. You don't need to assume that the firm is financially constrained and the mechanism actually works more naturally there because what's going on on on the short side as if stock price goes down than even if the firm is not financially constrained manages Stout updating you know maybe things are not going so well and they start canceling investments in this sort of feeds back into the stock and justifies the decrease in price That was caused by the showed selling. You're absolutely right. I think pulled alongside you need this. Additional lael of the firm being financially constrained And then the interest in stock price alexis this constrain and brings in a capital providers in this sort of put fuel in in the fire. So you're right that To some extent the short side is perhaps more natural than and alongside. But you know. As i said i actually when i look at what happened in recent weeks with amc american airlines actually which is a pretty big affirm veasley also had a similar love. Episode will the was not as extreme frenzy as game stop. Amc but a little bit of an uptake in stock price because of such trading and they were actually able to as catholic Favorable terms because of this so so when you see what happened in in recent weeks you actually stop believing that some of it is actually likely You know Stock prices going up and you would say capital does not follow it and should not inject capital into the firm because of this they do and so i think there is some truth to it on the long.
"wharton school" Discussed on Scientific Sense
"When market participants of learning on new dimensions that mena gills don't know already Reflecting this kind of inflammation and providing potential guidance full decision makers This case he'll efficiency will behind a traditional market efficiency. Might not be high so those two concepts could be in conflict with each other. The first concept the traditional market efficiency is what a lot of people have been looking at for years. The new concept that he'll efficiency is what i think people should focus on more. It's not just about whether markets can predict what will happen but rather whether they can provide useful new information to advance economic efficiency and blood. you mean economic efficiency. Aw decisions inside the firm. And so so i in a situation than the manager is all knowing at market is simply reflecting what the manager already knows you will get additional definition of price efficiency prices reflect wanting ciders now insiders. Something firm no Gets affected the prices. But but what do you mean by. Leila efficiency is then. They're such market. Prices actually provide new inflammation to manage to make better decisions. Yes absolutely And i and. I will shopping the point. It doesn't have to be manages who are relying on information and making decisions. Accordingly it can be adult decision makers as well you know it could be a banks. Were lending money to firms. It could be regulate those who are putting actions and changing the way affirms behave. It could also be employee's estimate suppliers and so on everyone who is making decisions that are shaping future. Investments in cash flows affirms And can be guided by prices Employee one like this weekend about when we think about the efficiency we think about the extent to which market prices shape their inflammation in shape dill behavioral in decisions. I though you make the point to sleep. But i wanted to expand on it using another people as you say this paper incorporating the feedback effect into morton's of financial markets can explain this market phenomena. That otherwise seemed puzzling..
"wharton school" Discussed on Scientific Sense
"Welcome to the site of accents. Podcast where we explore emerging ideas from signs policy economics and technology. My name is gill..
US business schools opt to sit out of some MBA rankings this year
"Several top American business schools have decided not to participate in MBA rankings this year. The Wall Street Journal. Reports Harvard Business School, the University of Pennsylvania's Wharton School Columbia Business School in the Stanford Graduate School of Business there among those who have opted out, they declined to provide data to the economist in the financial times, because they say the pandemic has made it difficult to gather that
Should Women and Men Handle Money Differently?
"So first of all. Let's talk about how you get money in the first place and that is earn it right and according to the pew research center Women earned eighty five percent of what men earned in two thousand eighteen That pay gap is shrinking Particularly for younger workers which is a positive trend but that is still a meaningful hurdle to overcome. The pay. Gap is partly due to to work history. You know like having kids great you know. But as we mentioned with the fidelity study earlier taking time off to have quetta's like it often leads to job offers in worse income prospects not to mention the years of not generating any income which often reflects years of not investing in a workplace retirement account in particular. If there's a match there right and those are some big disadvantages to overcome yell like you said at the beginning matt that stat also reflects some structural issues when it comes to male and female pay. But here's another thing to matt When we're talking about pay women are actually often averse to asking for more money than their male counterparts. There was a survey from ron saad. Last year the found that sixty percent of women have never negotiated with employer. Overpay women are also more likely to stay at a lower wage job to according to The personal finance web site the balance. And that's not good right because even just a small bump in pay with a new employer or in a job that been in for years can have just a massive impact on your ability to earn more throughout the years and then also save more for retirement. So i think of all of the things in this episode where we see. Maybe you know women as sex falling short. It is in in the ability to ask for more at knowing what they're worth again. This is another instance where you might be listening and you're thinking i've never had a problem negotiating a race like i've never had a problem asking for more money so again. It's important to keep in mind that though the research shows us like we know any totally doesn't apply to everyone. I'm specifically thinking of two conversations with Kirstin and julian saunders. The couple behind rich and regular that was episode. Eighty six and julianne was just bragging. About how great pearson is at negotiating. Evidently she's just like the queen negotiating more. Pay if you had to listen to that upset go back and listen to that one. Is that regardless of your gender. Earning more it's just so important right and all of us could stand to our abilities on that front And we've had lots of different conversations on the show that specifically cover you know not just stories of individuals negotiating but just how to go about doing that. I'm of Ramiz sadie that was Backing up said one ten and he outlined a great process a great method You know when it comes to wanting to up your salary. You know what steps you need to take. In order to negotiate a solid race gam thinking to matt had far new darabi on the show. She is just awesome personal finance expert and at the same time. She is someone who has made a killing as a small business owner. She knows her worth. she knows. how to negotiate. Yes so like you said there are many women out. there are crushing it. Who don't have a problem and asking for what they're worth. Who don't have a problem asking for a raise. It's just when you read those statistics. There are obviously a number of women who do though. And i wanna see. That number changed for the benefit of women as a whole absolutely. Let's about spending to do women spend more. That's an interesting question. My wife personally met hates to shop. I really. She just defies the stereotypes. And actually i don't know i don't mind shopping. A little bit roles are a little bit reverse exactly but there was a study by the wharton school of business that found that women are more likely to view shopping as a recreational activity. My mom definitely fits that bill Most men wanna leave the store with their purchases quickly as possible but even though women enjoy shopping more it turns out men still spend more than women in a typical year so while men might not enjoy the process of shopping as much. They still shopping. Just from a utilitarian standpoint sure yeah also that increase spending with the stats as well. There's there's a survey from wallet hub earlier this year. They showed that men are more likely to max out a credit card. Women are apparently seven percent less likely than men to have maxed out credit card at least once in so while women they might enjoy the shopping experience. More than men do a lot of different stats. Show that women are more cost conscious. They're more likely to shop at alice. Stores more likely to to wait till something they want is actually on sale The store brands more than men. And so you know when it comes to spending this this is definitely a win in this category for sure And so i i of see this as a call to min to stop spending so much money on neighboring items fan. Yeah i feel like. I'm totally guilty of this. I totally fall into the study. I don't like to go looking for the best deal. I do because i'm spending less but like i'll look at maybe two or three different sites and then i just purchase right whereas for you like i feel you are so good at hunting and making sure you're keeping your eyes on the best deals out there making sure that you're spending the the least amount of money possible. I feel that's something that we all need to make sure that we're doing right. And so you know regardless of who you are. We should all work to just become a little more conscious and how it is that we spend our money. I gotta say mets. I don't care whether you're man or woman but store brands should be high on your list because they're going to save you a ton of money it's just like in savings when you go for the storebrand over the name brand equivalent unless it's your craft beer equivalent And you're wanting to spend a little bit more on the because it makes you feel nice. Can't name brand everything though. I think i think sometimes that's a tendency here. Maybe that men have The men just gravitate towards the name brand no matter what it is without thinking about it and that's where we need to shake things up right and we we need to consider storebrand's more frequently also too. I think we've talked about this. The quality of store brand items has gone up a whole lot in recent years. Her kirkland signature brag. There's other ones too man. Like target has some great Store brands that are better than their name brand equivalent. Sometimes so yeah. It's not just costco yeah costco rockstar Let's see let's talk about saving as well. There's more good news here. It turns out that the the savings rate for women is actually higher than their male counterparts. They save a higher percentage of their pay. They spend less of what they bring in and much of. That is due to the more frugal. Tendencies that we just highlighted when we talked about spending differences but even the women are saving a higher percentage of their income on average. They've actually got less than thirty percent of what men have in savings accounts according to data from the federal reserve from a few years ago That is likely due to the fact that overall they're still making less like we discussed earlier which means a smaller amounts of money saved overall. Yeah one of the reasons. Women have a higher savings rate as well Is that according to a survey by. Us bank women of all ages value financial security more than men do. But here's the thing than that. Focus on financial. Security can often backfire. If you keep more of your overall assets and savings and cds instead of invested in the stock market right like savings for saving for long-term goals is really important but so is investing For the really long
"wharton school" Discussed on Xtra Sports Radio 1300 AM
"Want to play now. So that's the toughest thing about playing against TV. Hey, 10 steps ahead. We understand that there may be some rainy weather ain't no surprise there. Obviously, this is this is Florida. What? The humidity. If this does rain, it doesn't matter if it's drizzle, or we get a little bit of a storm. Who do you think the game would favor? Yeah, I think that would end up being in then. Temple based favorite. Um, you know the chief. They have all that speed, all of athletes and again. I mean, this is Super Bowl, So you're not gonna Be slow step in because of rain. However, you know it does affect your footing. It does affect your planting and acceleration and all of those different things, right? And so you know, I don't First see either of them trying to tell their game plan to the rain, right, But I think that that definitely is something that's kind of a Tampa Bay's favor. If it doesn't back rain. Well, we gotta we gotta see where a couple of days away. We're chatting it up with Brandon Copeland, NFL linebacker vet. What you do away from the field is amazing. You know anyone who's not familiar with what with pen One of the best schools in the country. If you think about the Wharton School of Business, it's one of the best, most well renowned business schools in the entire country, and you actually teach financial literacy courses in the off season. How do you manage all of this? Um is,.
Reduce No-shows, Fill the Schedule, and Improve Patient Experience with Michele Perry
"Back to the outcomes rockets. All marquez here. Today i have the privilege of having michelle. Perry on the podcast. She is. The ceo of relations has sast based patient centered. Engagement company that utilizes a modern and mobile first approach to improve patient and provider communication. Michelle perry has almost thirty years of experience in software and health technology an undergraduate degree from the wharton school at the university of pennsylvania and her nda from harvard business school. Just the the important topic around how we communicate patients effectively. And how do we do that at scale. It's going to be a great talk and michelle super excited to have you join us today. Thanks for having me excited to be here absolutely and and so before we dive into the awesome way. You guys engage patients at relations. Talk to us a little bit more about you. Michelle wu spires your work and healthcare the patient. You know really. This truly has to be about the patience to have been easier way to access healthcare This pandemic has shed light on. The fact that truth helped get a truly is about the patients. And that's why you know. I joined a company named relation relating to the patient and focusing on the patient. How do we make it easier for the patient because anything related to health care is high and so why don't we make it easy. Yeah and i think the nature of kind of how healthcare works and fortunately that it's complex And the need for that expertise of simplifying and getting a message to the right person at the right time is critical so michelle talked to us about how relations is adding value to the healthcare ecosystem. Exactly what you just said you still my words saw. It's all about getting the right Right message to the right person at the right time. And you know the industry's been a little too focused on patient portals and just dumping information they're figuring out the patient would find the information and it's just not working you know we need to make it easier both for the practices and health systems to make it easy for their patients to access healthcare. And we need to do it in a way. That patients are use to communicate. Say and we all carry this phone You know there are a few people in the country maybe not for the most part people have a phone kind. You know in their pants pocket or in the hand of something all day. So how can we make it very easy using that mobile device to get them just that right information and not a data dump just the right information at the right time. Yeah and so there's a flow you know. There's there's a step by step process that kind of we go through when we get care. There's a scheduling. There's there's actually going to see the clinician where you wait. I guess there's a lot of waiting and cars now with with the pandemic reminders etc. So there's a lot of touch points that potentially league we could miss and so talked a little bit about what you feel makes relations special and different than what's there today. Yeah so you know. Unfortunately healthcare has so many rules and regulations Starting with that introducing some of this technology to be patient facing can be really non thing and then you add all all the communications laws which tcp a of the can spam and. This really seems way too. Risky move forward and health care. So that's where many practice of just put it in puerto new best enough but the adoption and usage of portals. It's just really low. So what we focused on is making it just easy to get the critical information at that point in time. Whether it's about an appointment to make sure that you know it and confirm it and we have best practices where we combine own email and chat messages over the course of five three one day to get the best response rate and to get people if they can't make it you know to cancel reschedule and get them back on the calendar that you can get waitlist filled spots that they laughed and moving all of that so really combining all these with one platform that can make this really productive for the practice which would make it productive for the practice can make it easy for their patients totally.
Breakthrough at Home Pain and Mental Health Relief with Richard Hanbury, Founder Sana Health, Inc
"Walk back to the outcomes. Rocket saw marquez. Here and today. I have the privilege of hosting richard henry. He is the founder of saana health. remonstration platform for pain relief and deepak station. Richard develop the technology behind saana to eradicate his own life threatening pain. Problem following a spinal cord injury from a jeep crash near saana in yemen and nineteen. Ninety-two richard has an mba. From the wharton school in healthcare and also a law degree from the college of law in london the original benchtop device removed all his nerve damage pain in three months saving his life. He has spent twenty five years developing the sonnet technology from the original benchtop device to the current device undergoing clinical trials sonnet uses pulsed light and sound and a heart rate variability feedback loop to guide the user in a deep state of relaxation. Clinical trials have been completed in opioid use disorder and fibromyalgia and sauna is launching in fibromyalgia and twenty twenty one however is available today and richard is going. Tell us more about it. And i'm just really excited to have the opportunity to interview richard and have them bring forth this technology to to the the world richard such a pleasure to have you here today to be thank it. Yeah and so before we dive into saana and it saana dot. Io folks if you're curious tell us a little bit about you and what got you into healthcare thank you yes as a nineteen year old kid. I was traveling in in the yemen. And i was given a choice of a head on collision in my jeep next to a petrol truck or two gulf bridge and i chose gulf a bridge. 'cause i figured We would either way. There would be so remains to find if i went to the bridge. Say dance with dry riverbeds sixty foot dying and cheap crumpled up A results in spun good injuries from thc ten. Which is betty button level plus a traumatic brain injury and they say old. That was why. I had to be medevac k. I was clinically dead for eight minutes back to matt intercom a middle of that resulted in damaged problem that was say sparrows given a five year life expectancy sarabia. It was the question of near figure. Something i myself or old. I say that was the mother of invention necessity. It's unbelievable i mean that is crazy. So you're driving a jeep and there's this truck just heading straight at you and you're like explosive beth falloffs bridge and you just made the choice. I mean like when that happened. Richard to win you actually remember like what point jr actually start remembering what happened and gained consciousness. And how did they find you so it was semi passenger was burglary but was in good enough shape to festival shine in arabic. So the people watching the right to danger. Petrol cigarettes is they were running. Schools tile passwords lit cigarettes. In khao is everything was checked in the gasoline tank Say yeah ben. E managed to get them to throw away the cigarettes publicized and transported us to vote what they very loosely called the hospital. And that's my friend. Got the insurance companies to send them back pain coming up. Unbelievable i mean. I mean that is just unbelievable Era miracle the be here spell. And i'm sure that the road to recovery was not easy for you and you know lots of gain. You said i had to do something about this. And that was the beginning of sauna and so you've made leaps and bounds. Since the beginning you're recovered very happy for you. Richard and As i'm sure your family is to so now you have this device and this company. Why don't you tell us a little bit more about what it is how it works and that way the listeners could get educated on it including myself suddenly say basically. All pain is some combination of central mediation. Which has had brain prices pain and prefer plain. Which is the signal coming into the brain. Now with mike pain i had sponging. Tbi and i was on very extreme faction where it was all about how the brain was pricing pain signal. But it wasn't really paints were coming up from my spine. It was essentially corrupt. Data stream is very similar to what you get with phantom limb. Actually being told her in pain is being told your visits we had signal. That doesn't quite make sense. Say with me. I was very rainy. Lucky the original device was able to wipe all by damage pain
The H-1B visa program is about to get another reboot
"Incoming biden administration promises a more open approach to immigration including the h. one b. visa program for highly skilled foreign workers employed by us companies. The trump administration has moved to restrict foreign work visas this summer and executive order temporarily halted new h one b visas and last month the labor department announced new rules making them more difficult to qualify for this matters to tech of course because the industry employs a huge portion of h. one b. visa holders in jobs companies say. There aren't enough skilled. American workers to fill britta glennon as an assistant professor at the university of pennsylvania's wharton school of business denial rates for new h. b. petitions under the trump administration rose from six percent prior to trump coming into office to thirty percent of any policy changed. That's internal memos that have basically increased the number of requests for evidence slowing processing just generally making it more difficult to get approval. So that's something that that biden can change. What could a more friendly administration in terms of foreign work visas mean for american workers who you know many of whom supported president trump and might be concerned about their jobs. Actually there's very little evidence showing that that immigrants take american jobs in fact there's more evidence showing that skilled immigrants create american shops. And so you know. I think i would say they shouldn't be worried about this. They're not taking their jobs. And in fact the response to reducing immigrants is not giving americans job sexually just taking those jobs to another country
Mary Trump's scathing book claims Trump paid someone to take his SATs
"There's another memoir coming out that paints less than flattering picture of president trump and this one is written by his niece. Mary trump who was a trained psychologist. The upcoming book is called too much never enough. How my family created the world's most dangerous man, and what? We don't know everything in this book yet. News organizations like the AP CNN and the New, York, times got advanced copies, so they release some details in the book. Mary Trump wrote that Donald. Trump paid someone to take sat for him, and that's how he was able to get into the Wharton School of the University of Pennsylvania. Portrays, her uncle as a sociopath, but the White House says not true Deputy Press Secretary Sarah Mathews, said quote, Mary Trump and her books publisher may claim to be acting in the public interest, but this book is clearly in the author's own financial self interest, several trump family members also tried to stop the book from being published, but court ultimately ruled against them and allowed it, so it's set to be released next
Kobe Bryant Merchandise Increases In Value But Not Everyone Is Cashing In
"Just may not be the most important aspect of the death of basketball star. Kobe Bryant but after the helicopter crash that killed him some sports fans are buying or selling Kobe Bryant Memorabilia. They face a choice. Try to profit from tragedy or try to honor his memory for member station K.. PCC in Los Angeles Austin Cross reports just minutes after news of his death. Kobe Bryant related merchandise started moving fast especially the sneaker pretty much the the same day that he passed everything that we had available was just gone. Candice Grey Works at Shoe Palace on Melrose Avenue in mid city Los Angeles that the following morning we got hit. Very hard with a lot of people will Hoping to be able to grab whatever they could as far as remembrance but while some shoppers were in it for the sentiment others were just looking to make a quick buck by flipping the shoes online on one website. Shoes made famous by Bryant began selling for well over double what they were just hours hours before. Not Uncommon says robbed at the Wharton School. Well when a celebrity dies there are certainly a lot of human sentiment involved nettle spike demand. Demand in the market isn't necessarily ready for that leading to higher prices on a range of items. But did you see says the spike is just that prices level out over time that means dealers and fans must choose whether to sell now or hold on. Kobe's were here put away scattered everywhere at secondhand sneaker shop cool kicks also in mid city co owners deal Shannon based on artists chose to hold onto them. The store stocks several models released over Brian's career but man it's after news of his death the to pull them from the shelves. We felt like all the resellers Sakaria Sakari store and take all of the items. Try to make money off of his name and we were opposed to that. Everyone wants to come in either looking for an item or they want to sell the item they have you know the profit because you know they see a market gets going increasingly crazy right now to over one hundred pairs now. Sit in a bathroom kind of has this almost like a church like feel in a way because it's like these are the last of the last is that yeah as I look because while we're doing this interview I'm just looking around at the difficulties because you remember the games. He played in wider release. You know it's hard to deal with. You know not having this. The the shoe released known why that person because Kobe. Bryant's Gone Ryan's fan base. In China and Europe made him an international figure translates to a world of collectors and fans hoping to get their hands on a dwindling number of relics. Now now priced out of reach for the average sneaker had for instance. GM says pointing to a pair of Kobe ones. We had a reselling seven hundred fifty dollars and now that I'm looking at it. This shoe who is not even an existing. You find this on line. The closest shoot in this is is the nine half palm for twelve thousand dollars this is. This is my first time. Actually seeing this champs and artists don't plan to sal anytime soon and they're not the only ones putting passion over Prophet Candice Gray who we met earlier doesn't just sell Kobe gear gear. She collects it herself number. Eight Jersey Number Twenty Four Jersey. I have the og pros. I have the pros. That just came out and she doesn't plan to sell they are. You're going to go and glass. They were going to be idolized by my children's children. I I don't want to have to worry about not having something that my kids can have tangible manageable to be able to explain the magnitude of who Kobe. Bryant was though prices may sore for fans like gray memories are
Stefan Krasowski on Visiting All 193 UN Countries
"Steffan Krzyzewski come from Minnesota in the US. I've I just recently gotten to one ninety three. UN countries which is why we're talking today. You bring me back for follow up. But I'm happy to be here I don't remember that comment but I'm glad to have you back and curious to hear a little bit of your final part of the journey and I just wanted overview a couple of different different things to remind the listener Remind us again. Why the love of travel was the catalyst what spurred your love for expiration in discovery like many many in my boat there? There's a collecting background. Where you you get interested in collecting different things and I did not travel much coach growing up? My parents not not active travelers so it was my high school junior year trip to China. We had started studying Chinese Back in fifth grade grade and went to China and traveled around and it was just eye-popping exciting thrilling and so as soon as I could I went to college and University of Pennsylvania Wharton School Philadelphia but spent semesters in Shanghai and Hong Kong and then moved to China right after graduating college. And the you've been in Hong Kong. I arranged at ride classes three days a week and just every every Wednesday night I would head the Shenzhen. See what buster overnight train rain was leaving in hop somewhere new and got addicted traveling in China going every province in in the country. And then step-by-step expanding out to the region and the wider world pulled out of curiosity. You didn't come from travel family. What's your family? Think of what you've done what you've accomplished in the travel world world totally supportive. Do they think you're a little crazy. What's going on when you get together for Thanksgiving? Oh I've got one wonderful parents sand and Brother who's a doctor and a scientist who's WHO's very different although we both Studied Chinese at the the same starting and he studied in China in highschool so my parents Prince of been extremely big about education that they work worked to put put us into the best schools that that we could get ourselves into an and get that environment and Mother reading to me every night Even when I developed an interest in books like James Bond or Tarzan in bucks as a as a first or second grader that would have pretty racy stuff she wouldn't our through and and Be Happy to expose me to to new ideas. A Matt so the circumstances weren't for for them to be traveling a huge amount growing up but they're always been very supportive and and As as both my brother and I got older than the I was living in China my parents did start traveling and in quite a quite a lot of times they visited me. TRAVELLED AROUND DOWN SO my father's a adult of million miler now so it's it's certainly not not anti travel in out of curiosity whose commander and his better yours or your brother. I should hope it's me because I still go back several times a year and actively do stuff with China and he hasn't significantly kept up with it since since going into medical school. I mean I know he did say at the time that Learning Anatomy class was pretty easy Z.. For him when when he had been studying Chinese characters for some time but when he was when he was at his best to you. As far beyond me reading classical Chinese the It's it's it's much more different than than say Latin. It was never a spoken language. The written Classical texts are incredibly hard. Pardon any was brilliant that I can. I can get through the first few sentences of the Dow ditching and and that which is which is hard enough but He was he was way beyond me as scholar. Could use to your brother in and Stephan. What was that inflection point? So you explain how you really were taking advantage of semesters abroad in Hong Kong China the region starting to explore like crazy. What was the moment when you decided to chase when ninety three? What was that light bulb moment? It was. It was somewhere around Azerbaijan Georgia Armenia trip that I took from China on one one of the holiday weeks that that China has an at that point I was had been to just about every country in Asia and and was loving it than in seeing the possibility awesome -bility of doing much more in learning learning about frequent flyer programs which was making some of these possible Places like the caucuses were connected to China. Southern routes in Chai from China and Could use my north west and then later when they became Delta Delta Miles on on these is trips so things that I thought were previously unattainable for time or cost reasons were suddenly feasible and and And I never I never had an interest to be a full time traveler even if I had unlimited resources for that I push myself very hard on trips. The I've I've taken several three week trips Only wash twice longer. Once a four week I think in the that was in Central and west Africa and a five week around the Pacific and I was so exhausted after three weeks of pushing myself that that is the the long term travel all thing wouldn't wouldn't fit for me and and professionally isn't isn't where my interest lies and and certainly not as it is where my marriage marriage would be taking me so the I like short intense trips. It but was there a day where you sat around and counted up the country's on the map happen you saw that you're at fifty or a hundred and then you read an article. What was that final? Push where you said okay. I've done this now. I can do that. There was more of a a different back back to that other by John. Looked at within. The cost was to get to Nakhichevan which is a separate part of other by John that on the Traveler Century Club list as a separate territory and it was it now? It's quite easy to visit in affordable all and more flights at that point it was it was looking that expensive and I decided I'm not going to get addicted to a crazy list like that and subsequently I've ended knocked divide and gotten addicted to that list but it was It wasn't it was it was Wasn't necessarily one day except perhaps perhaps when I got got to eat team more. So that was the last country in Asia that I hadn't been to and did say I went to to all this trouble to get east team or deal with Indonesian and flights which wonderful delightful country in many ways except traveling Logistically is Is One where a lot of things. Don't go to plan and and So once I got to East Timor as I'm going for the UN Stephan. You're last on counting countries actually November of twenty sixteen eighteen. And you're at one hundred eighty six countries at that point. But you didn't finish your you analyst until August of Twenty nineteen in for some travelers. That's a lifetime Some travelers as we know have done all one hundred ninety three during that same time period. So you took your time to finish off the last seven countries I want to focus on four of your final five two of them. I found pretty surprising in two. I didn't so your final countries was Italy. How did Italy early of all countries end up being one of your last countries? There were three that I was saving to the end of Italy Greece and Turkey and and Mainly not not so much animus. I'm really WANNA have a big party or something. It wasn't that it's it's I'm history is my favorite subject fascinated with ancient history. And all of those three are are are so special in central to to world history and world world civilizations that I wanted to to save them to really enjoy lavish in terms of time and and Destinations destinations trips to go. So that that was the original thinking and then What will get into why I got stuck on on a couple of others and so then finally I just? I just couldn't wait. These are wonderful places that I'll visit multiple times in my life but That that that roughly was the idea As well as the flip side is after seeing so many ancient Roman ruins in North Africa. That have this kind of thinking. Why should I go to Italy and see the crowds? But you know that's just that's just one of the ten thousand different things that are fantastic by deadly to to go see show as a history buff. You mentioned Italy Turkey Greece. What's a highlight for you? Visiting those countries by all of all of the above. I mean it's it's just incredible. How you You could pretty pick pick any point on the map and see multiple layers of of incredible history I mean what I. I walked off the plane Lina in Milan. I had booked the trip like a week before last minute and I can only get one one ticket to the last temptation Or the Last Supper or the last supper painting and and I had like an hour and fifteen minutes from touchdown in Milan Malpensa to to getting getting getting in the door picked up a rental car drove as far as I could into the city abandoned the car where other people were illegally. Ugly parks hopped on the subway and guide in and saw that and and So Italy I've really I've really just started. I've been a bit in the North's I've I've seen the Vatican again but I haven't properly visited row. I've been around Sicily different territories in. It's it's just pick your pick your time in history Greece more specifically the ancient In the ancient era I mean I just gets it gets incredible to. You're just driving down the road and you see the road sign Its Tab obeys in the ancient Also known as thieves. And now it's just a a scruffy scruffy town but just pull off the road and spend the night there because these names out of history are incredible and and the answer Turkey Turkey. I took a A road trip from von the famous Lake van in the Armenian Indian churches in the East and drove all the way across the country The the more or less southern route through the Kurdish areas than around the Jian coast and So many eras of history from the first Essentially I city of multi-level housing and that goes back back. Thousands of years all the way up to the modern times. I mean it's just I just couldn't i. I had take UNESCO sites off the list because there's only so many you you can see in a day it's It's incredible and Turkey actually. has this fantastic museum pass system where you can get the countrywide one or you can get one. That's for a week league or are some regional ones arrest Boland's and the prices are so low and every mega site in the countries included. It's it's not like many countries where the tour pass includes everything except the one really must see
2019 Has Been Good for the stock market
"The clock is running out on twenty nineteen giving us a chance to see just how well the stock markets did for the year which was a real good hand a steep casting mom tells us there's no sign of a let up Michael usually trading is kind of a light in the days between Christmas and the new year many on Wall Street take some time off and not much news is made but when the closing bell rang yesterday stock prices have risen into new territory the S. and P. five hundred climbed the point three percent and reached a new all time high the nasdaq composite closed above nine thousand for the first time ever and the Dow Jones industrial average closed up almost one hundred and six points to twenty eight thousand six hundred and twenty one setting yet another new all time high in fact stock prices have climbed so much the S. and P. five hundred is up three percent this month eight point six percent for the quarter and twenty nine percent since the beginning of the year much of the increase this last quarter of the year was due to talk of a phase one trade deal between the US and China Jeremy Siegel is a professor of finance at the Wharton school now that the trade war appears to be cooling off he doesn't think we'll see a reversal in question is his trump is you know approaching selections in ten eleven months the stock market has been his biggest positive point you cannot at all tolerate that turning south on him but he doesn't think this upward trajectory will continue as it is I think two thousand twenty there'll be a lot tougher than two thousand and and nineteen not a bad year and in fact if we could get a real trade deal with China it could be it could be a good year when it comes to a phase one trade deal with China it remains to be seen whether one side or the other is benefiting
Shoppers expected to spend $730 billion this season
"Shoppers are expected to spend even more money this year than they did last year. The National Retail Federation predicts that over the holiday shopping seasons of through Christmas Americans. We'll spend around seven hundred and thirty billion dollars. That's with a B. A lot of that will still happen at physical stores but a survey from pricewaterhousecoopers. WBZ for the first time this year found that the majority of shoppers are saying they plan to do most of their holiday shopping online like Lou rather than in stores and that's actually really one of the reasons why to me and a lot of retail watchers one of the biggest themes this year. Is this slow. Change of the meaning of black Friday is beginning to disappear or is it just going join online. Well we have to clear. That still is the busiest shopping day of the year for most stores but for the past two years the number of people oh heading to stores Ford. Those doorbuster deals has inched lower. Shoppers are now armed with smartphones. They can do instant price checks on. What's going on at other your stores? Is it worth standing in line. Here I talked to Peter fader professor at the Wharton School of the University of Pennsylvania and he says more stores are also realizing that maybe the people who only show up one weekend November are not the best customers and so they're broadening their appeal with really strong online discounts and sales on so many days of the year including more made up shopping holidays like cyber Monday this coming Monday or prime day and this year also because the calendar gave us a super late Thanksgiving there fewer days between now and Christmas some stores started offering black Friday sales like weeks earlier back in October and and all this is washing out that meaning of black Friday. It's still huge but maybe not the focal point of Holiday Shopping Alina. What's going to make parents desperate this year? Your people stand in line. What's GonNa be big well? Overall the top sellers are close and gift cards. But then as you're alluding to the toys are huge. Actually my colleague. Dr Is Rafi. Spent Black Friday. The iconic toys R. US. You may remember. The company went bankrupt in twenty seventeen but a former executive is trying to bring back starting with two locations. The first one in New Jersey opened on black Friday and they are Darius spoke to shopper. Monica Mallon it's been kind of a staple growing up so so we've been doing black Friday on toys for many years up until they closed their doors so excited to see come back and as far as the hottest toys of the season. Go the classics like legos and barbies. Hot Wheels American girl dolls. They're still at the top of the list for many shoppers but Internet sales tracked by analytics. Showed that so far this week online. Fine the biggest sellers are yellow surprise dolls and pretty much anything related to the movie frozen to Shows Fan at all off coming to a shelf near you. NPR's Lena Shell thanks so much. Thank you
Disney and Netflix threaten to pull out of Georgia over new abortion law
"Politics is part and parcel of this economy. Sometimes it's subtle, sometimes it's not. But it is always there today is one of the not subtle times. Netflix, Disney NBC universal and Warner media have all said in the past day, or so that they are going to consider pulling production out of Georgia. If it's controversial new abortion, law goes into effect. Georgia has been something of a southern home base for Hollywood for years, now, thanks to generous tax credits. Mostly netflix. Shot stranger things in Ozark. Their Disney did Black Panther and avengers endgame. But both companies now say their employees might just not want to work in Georgia anymore. Marketplace's supreme Inishmore has that one. American politics can feel more polarized these days, and that has leaked into the workplace according to Leslie gains, Ross, and the workplace reflect the Sidey gins Ross is a strategist at Weber Shandwick had recently surveyed workers about employee activism. He by percent, said that if they were considering a new job, they would take into account and employers stance on issues at fence society. That could be all the more reason to stay away from polarizing political issues with sizeable factions on each side. But perhaps, not if you like Netflix or Warner media are in the entertainment business. Peter cappelli is a professor of management at the Wharton school, many of the employees that they see as most central most difficult to recruit, most difficult to retain, our people who have views they're quite different than the views on abortion or earlier, views restricting rights, L, LGBT community, otherwise put many of the stars. And key producers, and other talent companies need are opposed to Georgia's law, and they and workers in the US generally are in a position to make demands. Scott Dubrovsky is a spokesman for glass door or seeing the lowest unemployment rate that we've seen in decades, and so people have options into where they go to work net Warner media in Disney, all hedged their threats to leave Georgia by saying, they'd wait to see if the law goes into effect in two thousand twenty as planned that will depend on how court challenges go
Research Explores How 'Fresh Starts' Affect Our Motivation
"Yeah. I guess that's what it is. Whatever it is that you believe about today. It also tends to coincide with high spring as I call it on our way to summer, and we are seeing if you lived in a climate with four distinct seasons. I mean, I know we have seasons, but they're lightweight compared to if you live a little bit further north you will see green coming up from the ground. You will see buds coming on flowers and leaves starting to come on trees. It's very very exciting time. And so it's it gives people a feeling of new growth. And this is the power of what researchers call the fresh start affect Chever notice that when you start to create something new goal, a new to do list, and you really wanna get a motivated that if it happens you set a date like on Monday, I'll start that diet or you know, what I'm gonna lose weight for my wedding day. Or it's the beginning of the semester. I'm gonna get all my reading done for school. Right. So researcher researcher, Catherine milkman at the Wharton school discovered a fresh start. She found that visits to university fitness centers spiked around turning points. Birthdays beginning of semester, beginning the week. I mean, really who starts new exercise program on Thursday. Right. It's always like a Monday. So what they're basically. Saying is if we can harness this power, the fresh start will get more things done, and it's all psychological shift. Interesting enough. They did it with experimentally. They asked participants to describe goal. They would like to pursue. Then they prime them or prompted them because they ask them to imagine that they just moved to a new apartment. Now, they weren't planning a moving. We're gonna move, but they prime the brain by saying first of all tell us what you want to accomplish soon. Now, I want you to magin you just move to a new apartment, then they divided the group into two groups one group, they told them. Oh, and this is the first time you've moved in the last ten years, you have not moved in ten years and the others were told, but you're not too stressed about it. 'cause you move every year. Then they were asked to indicate how motivated they were to pursue their goal. And sure enough participants who imagined that. This was the first time they had moved in a decade where more motivated to make progress on their goals. So does this mean the chief their goals? No, that's the flaw in the research. But what it does is help us understand that if we can just make the psychological shift we can capture the new beginning. So I say this about Easter Sunday. I don't care if you're believer or not it is a set point to reset. And imagine that many animal babies are born around. Now, imagine that new life is happening in platform around you, and that yes, psychologically, this might be a time for you to bloom I actually like Easter and spring better than those dumb all New Year's resolutions that. Nobody keeps because it's the dark days of winter. They're still depressed and the days are short. And of course, they're going to go on eating that chocolate. But I'm gonna ask you to provide a psychological shift and say this is a new start this is spring. What am I knew goals? And what can I get done? Of course, if you're a college student or professor right now as I am with a desk full of papers to grade and college students trying to get those papers in it's sort of hard to think about new goals like how can I catch up around
What role does government play in innovation?
"This. Marketplace podcast is brought to you by the university of Florida Warrington college of business transform your future with an MBA from one of America's top ten universities. Learn more at Warrington dot ufl dot EDU slash MBA. This marketplace podcast is brought to you by equities N a premier platform bringing private markets to the public get access to tech unicorns like Uber. Airbnb and more sign up for free today at equities N dot com slash tech. A look at the secret sauce of innovation and it's less glamorous cousin adaptation from American public media. This is marketplace tech. I'm Tracey Samuelson in for Molly would. If you're a government day, the Chinese government looking to spur more innovation in your country. How do you do that you can think of innovation as a ladder of sorts? It might start with imitation. And then progressed you adaptation like tweaking a foreign idea to develop it for a local market. Finally, hopefully, you reach invention, perhaps even big industry changing ones. But the steps needed to climb that ladder can be elusive murky, and there's only so much governments can do says Regina abroa- me a professor at the university of Pennsylvania's Wharton school of business. I talked to her about China's efforts at state-sponsored innovation. It's something country. Can't cause to happen. It has to happen at a much more micro level, which is gonna what's the form of business organization in your country. Is it a collaborative is it a hierarchical places their scope for collaboration? What's the the nature of your education system? Are you teaching children to be problem solvers or are you rewarding? What are you? Awarding them for are you rewarding them for getting the answer's right or you're rewarding them for seeing something that you did wrong. But you know, I think we've I think we're at a point now where anyone who thinks that it's just about plopping cluster together meaning to say and China has lots of these right? Let's let's have one university in the next. Let's put a little tech park and extra. Let's do this other thing and magic show happen. It doesn't always work then then last, but not least. And this is not a trivial point you need a legal system where intellectual property is protected, right? Which is a chief US complaint about operating in China Raina, right? But it's not just us firms Chinese firms themselves also want to make sure that their IP is protected. It's interesting because the communist party's main in China twenty twenty five planets received a lot of attention recently for its attempts to you know, pick and develop specific Chinese industries is that type of industrial policy successful in fostering innovation. I think it's successful in fostering market leadership. Perhaps even market domination of a given sector within the Chinese context. And also potentially allowing for firms to compete in a way that gives them an advantage in the global marketplace. So it's not necessarily the case that industrial policy equals innovation policy. Yeah. So this idea of like, creative add patient versus a truly innovative breakthrough. But at a patient, you know is innovation. I mean, you know, as at the end of the day, this sort of hacking and making it work is a kind of innovation right? And certainly if we look at Chinese companies and their ability to sort of really target mid range markets, and how successful they've been in that space. It has been because they've been able to sort of make that those those adaptations that are targeted to our particular customer. They're trying to sell to. So it's it's not that China made in twenty twenty five has not succeeded in many ways it has. But that in an insane China the leading innovator in the world today. I think that we have to be a little bit more cautious on that front. Regina balmy at the Wharton school of business. Professor Rami made an important distinction. She said this isn't about the capacity of the Chinese people to be innovative. It's about the context and system they have to innovate within. Now for some related links. Professor brownie wrote an article called why China can't innovate in the Harvard. Business review back in two thousand fourteen much of that still applies today this China Morning Post had a couple of recent articles on China's intellectual property articles how they could be strengthened to meet US demands in the ongoing trade war and foster innovation the number of intellectual property rights cases in China increased more than forty percent last year and finally on the theme of creative thinking, there's this quantum magazine story from two thousand seventeen I just keep going back to it's about a retired statistician who solved a math proof others had struggled with for more than fifty years. He had the idea while brushing his teeth. I love stories of late bloomers. They give me hope. I'm Tracey Samuelson. And that's marketplace tech. This is a PM. You trust marketplace to cover more than business news. You rely on us to connect the dots between complex economic issues. And why they matter to you to keep public service journalism going, strong, please go to marketplace dot org today and become a marketplace investor with a donation in any amount, we appreciate your support. This. Marketplace podcast is brought to you by Kronos, look into any great business. Whether it's a manufacturer or a hotel a store school or hospital look into each and every one of them and you'll find the same thing. Great people at Cronos believe that great businesses are powered by great people. And with Kronos workforce solutions, it'll help you find them keep them and engage them. Learn more at kronoScom. Kronos, workforce innovation that works.
China's Pork Industry: A New Effort to Help Farmers Modernize
"As the conversations over trade continued between the united states and china one important area involves various aspects of agriculture and for our conversations the need for pork in china is extensive that country is the largest consumer of pork in the world much of that has to do with the number of people in that country and their dining habits but the industry in china is a good size one but it is still a developing one in the last couple of years the wharton school in the penn school of veterinary medicine have worked with farmers and others on the pork industry in china ink conjunction with the pen wharton china center located in beijing doctor in green hall is deputy director of warton's leadership program and an adjunct professor of management here at the wharton school dr thomas parsons isn't a socio professor of swine production medicine at the penn veterinary school of medicine and they join me both here in the studio to discuss what they have been doing and great see again it's a while how it speed to see and to be on the other side of the mike right i know you're used to over here can we do some cross selling if you would like absolutely but if you like you can take out tom great meeting you thank you for coming in dan thanks so much for the opportunity thank you i guess let's start with how this program really started out in china working with the farm industry over there about looking at the pork industry so i think it really started through the opportunity university provided through the china researching engagement funds so it was an opportunity to go ahead and improve our presence in china and we've been able to partner with zoa which is one of the leading animal health companies in the world to start to formulate an educational program for chinese pork producers and i think from our perspective you mentioned the high amount of pork that's consumed there as a consequence of that there's a lot of pigs raise their so pigs in the world are in china so if you're interested in in pigs china's certainly a place that you you might wanna be that's say that's like a hotbed for for for.