How AI Algorithms Could Reenforce Biases In The Criminal Justice System
Increasingly, algorithms and machine learning are being implemented at various touch points throughout the criminal justice system, from deciding where to deploy police officers to aiding in bail and sentencing decisions. The question is, will this tech make the system more fair for minorities and low-income residents, or will it simply amplify our human biases?
We all know humans are imperfect. We're subject to biases and stereotypes, and when these come into play in the criminal justice system, the most disadvantaged communities end up suffering. It's easy to imagine that there's a better way, that one day we'll find a tool that can make neutral, dispassionate decisions about policing and punishment.
Some think that day has already arrived.
Around the country, police departments and courtrooms are turning to artificial intelligence algorithms to help them decide everything from where to deploy police officers to whether to release defendants on bail.
Supporters believe that the technology will lead to increased objectivity, ultimately creating safer communities. Others however, say that the data fed into these algorithms is encoded with human bias, meaning the tech will simply reinforce historical disparities.
Learn more about the ways in which communities, policemen and judges across the U.S. are using these algorithms to make decisions about public safety and people's lives.
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How AI Could Reenforce Biases In The Criminal Justice System
March 18, 2019
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Why Natural Disasters Are Getting More Expensive
Extreme weather events are becoming more frequent, and more costly. According to one estimate, natural disasters caused about $340 billion in damage across the world in 2017. And insurers had to pay out a record $138 billion. The $5 trillion global insurance industry plays a huge role in the U.S. economy. Insurance spending in 2017 made up about 11 percent of America’s GDP.
So, how will insurance companies remain profitable in an era of climate change? And what does that mean for the rest of us?
Natural disasters cost the country $91 billion in 2018, according to a new report from the National Oceanic and Atmospheric Administration.
The report's findings are a sign that the changing climate and increasing numbers of extreme weather events are having a significant economic impact, even as the Trump administration continues to undo Obama-era climate regulations.
The economic losses in 2018 were due to 14 different natural disasters, ranging from hurricanes to wildfires to winter storms. Eighty percent, or $73 billion, of the total loss was attributable to just three events: Hurricane Michael in Florida, Hurricane Florence in the Carolinas, and wildfires in the West, including California.
According to the report, 2018 had the fourth-highest total costs from natural disasters since NOAA started tracking this data in 1980. It also marked the eighth consecutive year with eight or more natural disasters that cost at least $1 billion each.
Last year set a new record for wildfire costs, with $24 billion in losses caused by several fires throughout the summer and fall. November's Camp Fire burned over 150,000 acres in northern California alone, destroying homes and businesses.
Since 1980, the U.S. has sustained over $1.6 trillion in losses due to natural disasters.
The Trump administration has been historically resistant to take action on climate change. President Donald Trump withdrew the U.S. from the Paris climate agreement during his first year in office.
The president has dismissed reports on the effects of climate change and mocked the concept of global warming during recent winter storms.
"Large parts of the Country are suffering from tremendous amounts of snow and near record setting cold," Trump tweeted last month. "Wouldn't be bad to have a little of that good old fashioned Global Warming right now!"
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The High Cost Of Natural Disasters
March 15, 2019
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How Tech Cures Pain Without Opiates
Living in poverty or rural areas increases the odds of suffering from chronic pain, and one-fifth of adults in the U.S. live with the condition, according to a new study from the Centers for Disease Control and Prevention.
In 2016, 50 million adults, or 20.4 percent, had chronic pain, defined as pain on most days or every day in the past six months, the CDC estimates, based on self-reported data from the National Health Interview Survey. That same year, 19.6 million, or 8 percent, of adults had high-impact chronic pain, which frequently limits life or work activities.
Researchers found that in both categories, prevalence was higher for women, older adults, previously but not currently employed adults, adults living in poverty, adults with public health insurance and rural residents. They also found the rates of both types of pain were lower among adults with at least a bachelor’s degree.
Pain can be debilitating and also challenging to treat, especially as opioids have come under scrutiny for their role in fueling a nationwide epidemic. It can also be costly, with chronic pain costing an estimated $560 billion annually between direct medical costs, lost productivity and disability, according to a 2011 report from the Institute of Medicine of the National Academies.
Tech entrepreneurs are developing new devices to fight pain without pills, from pulsing masks to electrodes under the skin. Chronic pain affects 100 million Americans and has fueled a deadly dependence on painkillers over the last two decades. Every day, 130 Americans die from opioid overdoses. Now, tech can alter nerves to change how the brain feels pain and cut down the need for opioids.
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How Tech Cures Pain Without Opiates
March 16, 2019
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The Rise And Fall of Gap
In late February 2019, Gap Inc. announced plans to split into two separate publicly traded companies, sending its stock soaring on the hopes the new structure will help sharpen its focus and boost sales.
The retailer said it would spin off its most successful brand, Old Navy, into a separate, publicly-traded company. With its inexpensive basics, Old Navy has consistently accounted for more than 40 percent of the company’s total annual sales. Its other brands, Gap and Banana Republic, will join much its smaller brands, Intermix, Athleta, and Hill City, to form an as-yet unnamed company. Gap also plans to buy high-end children’s clothing line Janie and Jack and fold that into the new company.
Despite the sharp spike on the announcement, Gap shares, which have a market value of just under $10 billion, are up less than 1 percent since the start of the year, and have fallen 20 percent over the past year.
Gap CEO Art Peck, who will remain with the executive of “NewCo,” said both companies should benefit from “a sharpened strategic focus and tailored operating structure.”
A Gap spokesperson wasn’t immediately available for comment.
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The Rise And Fall of Gap
March 14, 2019
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Why Amazon Is Going After Netflix
When Amazon pursued the rights to a “Lord of the Rings” series in 2017, the company knew it would have to overcome some major obstacles to lure the J.R.R. Tolkien estate to its video-streaming platform.
Amazon was a relative newcomer in video, with no track record of shepherding a blockbuster series. HBO, meanwhile, could tout its long history of hits, most notably “Game of Thrones,” a similarly epic series based on fantasy novels with a rabid fan base. Netflix, with more than 100 million subscribers, pioneered the on-demand model with hits such as “House of Cards” and “Orange is the New Black.”
And not to be ignored, Apple was also in on the negotiations to acquire the rights for the upcoming TV show, according to people familiar with the matter.
Amazon didn’t have much by way of Hollywood cred. What it had was the richest person on the planet in CEO Jeff Bezos, a big “Lord of the Rings” fan, who was promising the Amazon Studios team a huge budget to nab the series, a prequel to Tolkien’s “The Fellowship of the Ring.”
But money alone wasn’t going to separate Amazon from the pack — Amazon’s $250 million offer wasn’t even the highest bid for the show’s rights, according to a person familiar with the matter. The ultimate selling point, according to people with knowledge of the negotiations, related to Amazon’s original business from over two decades ago: books.
The Tolkien estate was convinced that in promoting the series, Amazon could sell truckloads of Tolkien’s fantasy novels, including “The Hobbit” and “The Silmarillion” as well as “The Lord of the Rings.” During meetings with the Tolkien estate and publisher HarperCollins, Amazon’s Sharon Tal Yguado, who was hired from Fox in 2017, demonstrated a near encyclopedic knowledge of Tolkien’s characters, stories and geography, said the people, who asked not to be named because the talks were private.
Amazon’s ability to connect content to commerce won over the Tolkien estate. But just in case, to seal the deal, Amazon sent representatives of the Tolkien estate and its law firm, Greenberg Glusker, several crates of brand-new Amazon Echo speakers. Tolkien’s people were flattered, though they also joked that Amazon delivered the home assistants to eavesdrop on the negotiations, two of the people said.
The “Lord of the Rings” series will start production in the next two years.
The huge investment in a TV series has made Hollywood wonder just how much Bezos will spend on content. So far, Amazon has dabbled across the TV spectrum, with original content such as “Lord of the Rings,” a growing back catalog of movies and shows, as well as live sports from the National Football League and the Premier League. Just last month, Bezos was spotted chatting with NFL Commissioner Roger Goodell at the Super Bowl, a reminder that Amazon has several opportunities in the coming years to make a big splash in America’s most lucrative sport. Meanwhile, The New York Post reported Thursday that Amazon is nearing a $3.5 billion deal to acquire the YES network, the regional sports network in New York that carries Yankees games.
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Why Amazon Is Going After Netflix
March 13, 2019
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Why China Loves Buick
Buick might have a frumpy image in America, but it is an automotive rock star in China. With rising trade tension, tougher government policy and smarter Chinese automakers, how much longer can the good times go on?
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Why China Loves Buick
March 12, 2019
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Bobbi Brown On Natural Makeup Trends, Reinventing Herself
After building a global cosmetic brand, Bobbi Brown is busy building a second empire of life and wellness brands, including her start-up Beauty Evolution and accompanying editorial site, justBOBBI.
Natural makeup pioneer and serial entrepreneur Bobbi Brown has a simple code that has helped her on the path to success, and it’s one anyone can follow, no matter what their age or circumstance: “Do what you love, take chances, and do something different. It’s OK to break the rules.”
It may sound easy, but creating new paradigms and disrupting traditional industries is far from it.
The founder of Bobbi Brown Cosmetics, a minimalist beauty brand that changed the face of makeup, should know. She took a leap of faith in the '80s when she created a natural-looking cosmetic line that didn't follow the industry's color trends that looked garish and overdone. Her vision helped reinvent America's image of beauty. To take the business to the next level, she sold it to Estée Lauder in 1995 and stayed in an active role and continued to build the power brand until two years ago. The line is now sold in more than 60 countries.
As she recalls, "walking away from the company with her namesake on its 25th anniversary was a tough decision. But I felt it was time to move on. I had a different idea of the direction the company should go than others. I was tired of fighting." That was her "aha moment," when it dawned on her that she had lost autonomy and what she really wanted was to be her own boss again.
"I realized I wanted to do something really different, and the prospect of that was exciting," says Brown. But taking that leap of faith was hard in the beginning. "When I left, it was sudden, and at first I was in shock, but I felt relief because I could leave all the problems and worries I had behind."
Now she is busy starting over with a host of new ventures to build her own umbrella of life and wellness brands — including her start-up Beauty Evolution and accompanying editorial site, justBOBBI. She also became a certified health coach.
While beauty remains a focus for the 61-year-old, makeup is not the main vehicle anymore. Her new product line, called Evolution 18, is a range of dietary supplements and wellness products that align with her philosophy of "beauty from the inside out." So does her website that aims to educate people on wellness, food, beauty, business, travel and more.
At the same time, she has been busy with another project with her husband, Steven Plofker. Together they have renovated The George Inn in their hometown of Montclair, New Jersey, to transform it into a wellness and design hotel. Though named for its Georgian architecture, the landmark building built in 1902 is full of photos and portraits of famous people with its namesake, such as George Washington and George Clooney. Brown is the hotel's creative director and interior designer. She has put her personal touch on the inn and has incorporated more than 20 local businesses into its mix. It's a way to boost the local entrepreneurial scene, she says.
Time will tell if managing a portfolio of new ventures will prove tough for this overachiever. But she loves the freedom and insists that "managing these exciting projects are more rewarding for her than sitting in a corporate boardroom."
Why didn't she decide to rest on her laurels after achieving success in the beauty industry? "It's because I want to continue to empower women, teach confidence and simplify their life." She also admits that being entrepreneurial is in her blood and retiring is not something she is ready to do.
Looking back, what really made a difference in her career was meeting Mickey Drexler, chairman of Outdoor Voices and head of Drexler Ventures. The retail guru, who was formerly the CEO and chairman of J.Crew Group as well as the CEO of Gap, became her mentor and executive coach. "He really gave me permission to be myself. He always picked up the phone and offered assistance whenever I needed it," she recalls. "Everyone needs experts they can rely on."
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Bobbi Brown On Natural Makeup Looks, Reinventing Herself
March 11, 2019
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The Ups And Downs of GoPro
CNBC spent the day skiing with GoPro founder and CEO Nick Woodman at Big Sky, Montana to learn about the company's struggles and successes, and to hear what is next for the action camera maker.
If you've ever watched heart-stopping videos of people skydiving, doing crazy tricks on a bike, or jumping off of a cliff, chances are you've watched footage from a GoPro.
The company that defined the action camera industry has had its shares of ups and downs since the release of its first camera in 2004.
I spent the day skiing with founder and CEO Nick Woodman at Big Sky in Montana. Watch the video to hear the story behind GoPro's rocky road of success, failures and to learn what's next for the company.
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The Ups And Downs of GoPro
March 09, 2019
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Why Flying In The U.S. Has Never Been Safer
In 2009, Continental Flight 3407 crashed into a house, killing all 49 people aboard and one person on the ground as the plane was arriving in Buffalo, New York. Since then, U.S. airlines have transported about 8 billion passengers without a single fatal crash.
“There’s one dangerous part of the airplane trip, and that’s the drive to the airport,” said John Cox, a retired airline captain and an aviation accident investigator.
The fiery crash of the turboprop plane on Feb. 12, 2009, prompted federal regulations requiring more rest and training for pilots. In their investigation report, U.S. safety officials cited fatigue and the need for more training. They said pilot error was the probable cause as the plane lost speed and stalled a few miles from the airport in Buffalo during a flight from Newark, New Jersey.
In 2013, the Federal Aviation Administration increased the requirements for commercial pilots and first officers. They now must have 1,500 hours of flying experience before getting a commercial license. The previous requirement was 250 hours. Rest requirements for pilots were also increased following the crash of the plane, which was operated by now-defunct Colgan Air. The first officer of the Bombardier Q400 plane had taken a red-eye trip the night before from Seattle and then commuted from Memphis, Tennessee, to Newark before the flight to Buffalo, according to the accident report.
The captain of the plane had repeatedly failed flight tests throughout his training, drawing more scrutiny on pilot candidates’ education.
“The life-saving changes that came out of that event have truly been profound,” said National Transportation Safety Board Chairman Robert Sumwalt, who investigated the crash at the time.
“The traveling public has an expectation of safety now,” Cox said.
The stricter training rules make it harder for airlines, particularly smaller regional carriers that pay less than large carriers, to hire pilots, just as they’re facing a wave of pilot retirements.
“It has contributed to the shortage and the airlines have been slow to do something about that,” said John Goglia, a former member of the NTSB.
Greg Everhard, a United Airlines captain and spokesman for the Air Line Pilots Association, the labor union that represents the carrier’s pilots, said the changes brought about by regulators and the family members of Flight 3407 passengers turned “the hard lessons learned from the tragedy” into better training rules that shouldn’t be rolled back to save on costs.
U.S. air travel hasn’t been without incident. Last April, a fan blade on a Southwest Airlines Boeing 737 broke loose during a flight, sending shrapnel flying and shattering a window, killing a passenger, Jennifer Riordan. It was Southwest’s first on-board fatal accident in 47 years of operations. The FAA shortly afterward issued an emergency order requiring an inspection of the fan blades on the engine type that was on Southwest Flight 1380.
“As great as the record has been, we’ve had one passenger fatality [last year] and that’s one too many,” Sumwalt said.
Despite the new rules that came out of the 2009 crash, other concerns have emerged. Regulators have recently examined issues including fires of lithium ion batteries on board aircraft and avoiding collisions with drones. Even a report of a drone sighting can cripple air travel, as the two busiest U.K. airports recently discovered.
“There’s always the risk of complacency and we want to ensure that each flight is operated to the highest level,” Sumwalt said.
Rules made after the Colgan Air crash only apply to passenger planes though. But with the recent crash of an Amazon Air cargo in Houston, that might come under more scrutiny. Though it’s still early in the investigation, Atlas Air, the company who hired the pilots involved in the crash, has recently been accused of overworking its pilots by one of its employees, according to a Business Insider story. Atlas Air did not immediately return a request for comment from CNBC.
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Why Flying In The U.S. Has Never Been Safer
March 08, 2019
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How JP Morgan Chase Became The Largest Bank In The US
From the railroad and steel consolidations brokered by John Pierpont Morgan on Wall Street more than a century ago, to banking consolidation, the financial crisis and Jamie Dimon's leadership, J.P. Morgan Chase has been at the center of finance for more than a century. Here's the story of how the country's largest bank got to where it is today.
Biographer of J.P. Morgan Jean Strouse, longtime bank analyst Mike Mayo and CNBC banking reporter Hugh Son help tell the story. You’ll learn about how Aaron Burr and Alexander Hamilton are part of the bank’s history, along with the first ATM, and the company’s position moving forward into the future of digital banking.
Watch the video above to see how the country’s largest bank got to where it is today.
***Clarification*** Since 2004, investors in JPM stock have outperformed the bank stock index by an average of 6% return every year. That's more than 6x the return of the index yearly (13:52)
In February, J.P. Morgan Chase announced it was in growth mode, expanding its branch network to cover 93 percent of the U.S. population by the end of 2022.
The aggressive growth plans will allow it to reach 80 million more consumers, or about one-quarter of the U.S. population, versus its footprint in 2018, the New York-based bank says.
The expansion of physical branches comes amid a consumer shift to mobile and online banking. The average number of teller transactions per customer has plunged 41 percent since 2014, according to J.P. Morgan's presentation at its investor day meeting.
But convenient branch locations are a key consideration for people thinking about switching banks, and most of the firm's growth in deposits has been fueled by people who use branches frequently, the bank said.
The company made it clear it had flexibility in its growth plans: More than 75 percent of its branches could be shuttered within five years or kept open for more than a decade.
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How JP Morgan Chase Became The Largest Bank In The US
March 07, 2019
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How Government Cheese Became Welfare For Farmers
The U.S. has too much cheese — 1.4 billion pounds of it to be exact. To get some of that cheese off the market, the U.S. Department of Agriculture has spent $47.1 million buying up roughly 22 million pounds of it since 2016, according to a USDA spokesperson.
But this isn't the first time the government has bought tons of American cheese. In the 1970s, the USDA stepped in to help control volatile milk prices, and it became very profitable to produce milk. So, farmers started producing way too much of it, which was then turned into way too much cheese.
In 1981, then-President Ronald Reagan declared 30 million pounds of American cheese would be distributed to food pantries, school lunch programs and other welfare programs. By 1984, the U.S. was storing about 5 pounds of cheese for every American.
"People talk about food assistance programs as if they were created to help poor people out," said Andrew Novakovic, professor of agricultural economics at Cornell University. "Yes that's true, but almost all of the major food assistance programs were ideas that came from agriculture because we had too much of something."
Suddenly a block of surplus dairy product became a neatly packaged symbol of economic status known as "government cheese." It's been referenced in "SNL" sketches and songs by artists including DMX, Kendrick Lamar, The Roots and Jay Z.
"It would come in these big brick-type blocks and it's like Day-Glo orange," said Bobbi Dempsey, writer of The Tyranny and the Comfort of Government Cheese. "It brings back bittersweet feelings. It was a staple of childhood, so there's a nostalgia about that. But at the same time it's yet another aspect of life as a poor person that you had no control over."
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How Government Cheese Became Welfare For Farmers
March 06, 2019
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Why Alibaba Gave Up On U.S. Consumers
Alibaba is China's largest e-commerce platform. In its latest earnings report, Alibaba disclosed having 636 million annual active consumers on its China retail marketplaces. That's almost double the entire population of the United States.
Alibaba's reach today expands far beyond e-commerce. Its realm now covers cloud computing (Alibaba Cloud), digital media and entertainment, (Youku, Alibaba Pictures, Damai, Alibaba Music, Alisports.com) and logistics services (Cainiao). Alibaba is also part owner of financial services company Ant Financial.
Despite its enormous Chinese following, Alibaba is still not a well known brand to many Americans.
Watch the above video to find out why Alibaba hasn't won over U.S. consumers and how it has focused on attracting U.S. businesses.
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Why Alibaba Gave Up On U.S. Consumers
March 05, 2019
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Bernie Sanders' 2016 Advisor On Trump's Economy And Modern Monetary Theory
Modern Monetary Theory (MMT) is gaining traction in American politics, energizing the progressive left and roiling deficit hawks. Stephanie Kelton, who advised Bernie Sanders' 2016 presidential campaign, explains the basics.
She also talks about 2020, saying Democrat presidential hopefuls are swinging for the fences with ambitious policy proposals while Trump appears to have changed his thinking on the deficit and debt since his 2016 run. On headwinds facing the economy, Kelton says she sees an "extraordinarily resilient" U.S. economy despite a "real" global slowdown and a small chance of additional rate hikes from the Fed.
With U.S. government deficits increasing again and big spending plans coming from potential Democratic presidential candidates, we thought it would be prudent to have a conversation with Stephanie Kelton. She's a proponent of Modern Monetary Theory (MMT), the economic rational cited by rising political stars like Rep. Alexandria Ocasio-Cortez D-N.Y.
Kelton currently works as a professor of public policy and economics at Stony Brook University. Previously, she served as chief economist for the Democrats on the U.S. Senate Budget Committee and was a senior economic advisor to Bernie Sanders ' 2016 presidential campaign.
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Bernie Sanders' 2016 Advisor On The Economy And Modern Monetary Theory
March 04, 2019
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How Venezuela Descended Into Turmoil
Venezuela was once the wealthiest country in South America. Now it's in turmoil.
President Nicolas Maduro faces a challenge from opposition leader Juan Guaido, who's attracting more and more support as the crisis drags on, both internationally and from Venezuela's military ranks. At the same time, inflation is spiking and unrest is reaching a fever pitch.
Here's how we got to this point.
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How Venezuela Descended Into Turmoil
March 01, 2019
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ASMR: Why Brands Are Using 'Brain Orgasms' To Advertise
ASMR has come a long way since its days as a back-room internet thread and it seems like everyone from YouTube creators to brands wants a piece of the money-making potential.
There are millions of ASMR videos on YouTube that have racked up billions of views. The bizarre videos often include someone whispering into a microphone and are said to give viewers a tingling, relaxing sensation.
ASMR stands for autonomous sensory meridian response. The term was first coined in 2010, but the popularity has exploded since then. Brands like IKEA, Dove, KFC and Lynx have all jumped on the bandwagon. Anheuser-Busch even created an ASMR Michelob Ultra ad for the Super Bowl this year.
Watch the video to learn about the Super Bowl ad, and find out why everyone from YouTube creators to brands want a piece of the money-making potential of ASMR.
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ASMR: Why Brands Are Using 'Brain Orgasms' To Advertise
February 28, 2019
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How Investing Works: Dividends
Dividend investing isn't as popular as it used to be. But investors looking for a low-risk investment strategy might want to pay more attention.
You might remember the "Bank pays you dividend of $50" card from Monopoly, but what is a dividend? A dividend is a portion of a company's profits paid out to shareholders on a quarterly basis. As long as you own the stock you'll continue to get paid and over time these regular payments add up.
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How Investing Works: Dividends
February 27, 2019
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How Amazon Changed Twitch Live Streaming
Websites such as Twitch, YouTube and Microsoft's Mixer are capitalizing on livestreaming by integrating another form of popular media: video games. Twitch is now leading the competition when it comes to livestreaming gaming and esports.
Livestreaming has become one of the most popular forms of online entertainment today.
Websites such as Twitch, YouTube and Microsoft's Mixer are capitalizing on livestreaming by incorporating another form of popular media: video games. According to Newzoo, the video game industry raked in an estimated $138 billion in 2018.
When Twitch launched back in 2011, the company focused on esports and gaming. During the site's launch, Twitch had close to 3.2 million unique visitors per month. In 2012, the site grew to 20 million visitors per month, and by 2014, tech giants Amazon and Google both tried to acquire the site.
Today, it's one of the biggest platforms for streamers such as Tyler "Ninja" Blevins. The site has over 3 million monthly streamers on the platform.
Watch this video to find out more about the history of Twitch.
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How Amazon Changed Live Streaming On Twitch
February 26, 2019
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What Will Cause The Next Recession - Justin Wolfers Says Trump Is Biggest Risk
Economics and public policy professor at University of Michigan Justin Wolfers says he’s optimistic about the U.S. economy because “recessions don’t die of old age, they’re murdered.” However, he is worried “that a small adverse shock could turn into something more calamitous with policy mistakes coming out of the White House.” He also explains how GDP doesn’t take into account things like the distribution of wealth, crime, domestic work that isn’t paid for, or environmental consequences, among other things. While rich countries exhibit more happiness, economic growth is just one component of a broader platter of attributes that successful countries demonstrate.
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What Will Cause The Next Recession - Justin Wolfers Says Trump
February 25, 2019
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The Legal Battle Over President Trump’s National Emergency Declaration
President Trump opened a pandora’s box of legal questions when he declared a national emergency in order to fund his border wall. Can future presidents, perhaps Democratic ones, issue similar orders over climate change? Or guns? Or minimum wages? And what does the national emergency say about the separation of powers between the executive and legislative branches? We might get answers soon. Some sixteen states just sued the federal government over the national emergency, setting up a big legal battle with the White House.
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The Legal Battle Over President Trump’s National Emergency Declaration
February 22, 2019
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This School Locks Up Students' Phones
With the help of tech start-up Yondr, San Lorenzo High School in California has banned cellphone use during the school day.
Since the last school year, students have been required to keep their phones in Yondr's locking pouches from 8 a.m. until school lets out at 3:10 p.m.
Yondr CEO Graham Dugoni was inspired to create the pouches after noticing that people at some concerts he was attending were more absorbed with their phones than with the music. Performers have flocked to the concept, with comedians such as Dave Chappelle, Jack White and Chris Rock using Yondr at their shows.
More educators are taking note, and Yondr says it has partnerships with thousands of schools in the United States, Canada and Europe. The pouches cost $15 to $30 per student annually depending on school size, and about $2 per head for large performances.
Hear from teachers and students about their experience with a phone-free school day.
San Lorenzo High School in the East Bay Area has banned cellphone use during the school day. San Francisco-based start-up Yondr, which creates locking smartphone pouches. Yondr is catching the attention of an increasing number of educators now that famous performers like Dave Chappelle, Jack White and Chris Rock use the product at their shows.
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This School Locks Up Students' Phones
February 23, 2019
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For 376 consecutive weeks, California has experienced some form of a drought. But, as of now, the Golden State has been officially declared drought free.
Storms and colder temperatures are to thank, according to a climatologist.
But the climate expert went on to warn that conditions can change quickly and to not get too complacent. This happened last year: It was a wet winter, there were beautiful blooms in the spring and then it dried out really fast, she said.
You can read more on the west’s winter, at the link in bio.
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with @cnbcmakeit: Amazon CEO Jeff Bezos is having a rough start to the year. But don't expect him to lose focus.
Bezos recently spoke to Amazon employees, addressing concerns about his work as he deals with a series of issues — both personal and professional— that could potentially distract him from running one of the largest companies in the world.
If you don't mind, just raise your hand, if maybe — just maybe — you've had a better start to your 2019 than I have. Anybody? he said. I noticed that a couple hands didn't come up — I'm sorry for you guys.
Bezos went on to reassure the employees that he has no plans to step back and is still fully engaged with the day-to-day management of the company.
While the comments reaffirm his commitment to work, questions remain on how exactly Bezos will get through one of the toughest periods of his career, corporate governance experts say.
You can read more on Bezos’ response to his personal life, at the link in bio.
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Facial recognition technology requires hundreds of thousands of images to learn how to differentiate facial features.
Increasingly, those photos are coming from the internet, where they're swept up by the millions without the knowledge of the people who posted them.
As the algorithms get more advanced — meaning they are better able to identify women and people of color, a task they have historically struggled with — legal experts and civil rights advocates are sounding the alarm on researchers' use of photos of ordinary people.
These people's faces are being used without their consent, in order to power technology that could eventually be used to surveil them.
That's a particular concern for minorities who could be profiled and targeted, the experts and advocates say.
Learn more at the link in bio.
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Thirty years ago, the World Wide Web was born.
But over the next 30 years, it needs to be changed for the better, according to its inventor.
British computer scientist Tim Berners-Lee laid out his vision for an information management system, which would become the World Wide Web, in March 1989. The blueprint would radically transform society as half the world's population went online in just 3 decades. But in a letter published Monday marking the web's 30th anniversary, Berners-Lee said he understands concerns that the internet is no longer a force for good.
The fight for the web is one of the most important causes of our time, Berners-Lee said.
In the letter, Berners-Lee also laid out three sources of dysfunction affecting the web today. Read all about what he sees that's wrong, at the link in bio.
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Warren Buffett got into the investing game early. He bought his first stock — shares of Cities Service for $38 apiece — at age 11. Since then, the investing legend has amassed a fortune of $75 billion and become one of the richest men in the world.
But if Warren Buffett wasn't the head of Berskshire Hathaway, and instead worked as a financial advisor for investors, he'd probably have a tough time holding a job these days...
That's because the man known as one of the greatest investors of all-time often underperforms the market, according to an analysis by Michael Crook, head of Americas investment strategy at UBS.
The point, of course, isn't that investors should shun Buffett. Over time, the results more than justify his patience. But the question is whether in the current climate of short-termism and the demand for immediate results Buffett would last in the business if he didn't already have his reputation.
Learn more, at the link in bio.
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Most of today’s jobs will probably be replaced by A.I., according to Sam Altman. 🤖 But he thinks that’s a good thing. Do you agree?
Altman sees A.I. paving the way for more personalized jobs — and a massive increase in “material abundance” that could boost the size of the global GDP by 50% a year within decades.
You can read more on what Sam Altman has to say about the long-term future of technology, at the link in bio.
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Between groceries, gas and going out, Americans cough up a lot of dough in a single day — $164.55, on average, in fact. But depending on your age, those figures can very greatly.⠀
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When broken down by age group, millennials spent more than every other generation overall, particularly on clothing and eating out.⠀
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Younger Gen Xers, age 35 to 44, spent more on housing and groceries, whereas older Gen Xers, between the ages of 45 and 54, spent the most on utilities.⠀
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Older baby boomers — those ages 65 and up — spent more on health insurance, averaging nearly $13 a day.⠀
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Overall, Americans spend the most on housing, followed by groceries, utilities and health insurance.⠀
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Learn more at the link in bio.⠀
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Samsung's Galaxy S10e is the best new Samsung phone for most people.
Samsung didn't cut many corners with this model. It's $250 less than the Galaxy S10+ but doesn't sacrifice too much on features -- it has the same processor, a brilliant screen, is water-proof and also has great battery life.
The S10e also gives you more bang for the buck than Apple's iPhone XR, which costs the same. Apple's $750 XR phone -- while also great -- has a screen that's not as colorful or bright, doesn't have a headphone jack, isn't as water resistant and doesn't include expandable storage. You get a bit more here if those things matter to you.
For the full review of this phone from our tech editor, visit the link in bio.
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Across the country there are more drivers on the road, and many of them hanging on to their vehicles longer than ever. That means auto technicians are in demand.
Some 46,000 automotive service technicians and mechanics will be needed to fill roles through 2026, according to the Bureau of Labor Statistics, at a time when the skills gap and worker shortage is particularly acute for blue-collar jobs.
While the median salary for auto service technicians and mechanics was around $40,000 a year in 2017, those with experience and more advanced certifications can potentially earn six-figure salaries during their career.
I think there's a stigma around, you know, the type of work and it's still this old, kind of get-your-hands-dirty, greasy job. But ... today's shop is really more of a house of technology where students today should be thinking about that role as really a STEM career, said Brian Kaner, Icahn Automotive Service and Real Estate president.
Learn more, at the link in bio.
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Smart cameras have been introduced to measure customer satisfaction at four Customer Happiness Centers in Dubai.
In an announcement Monday, Dubai's Roads and Transport Authority (RTA) said that the system would use highly accurate cameras powered by artificial intelligence technology.
The devices have both wireless and Bluetooth connectivity, and can take 30 frames per second from a range of seven meters.
The RTA's Customer Happiness Centers provide services such as vehicle and drivers' licensing.
Details, at the link in our bio.
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ASMR has come a long way since its days as a back-room internet thread. It seems like everyone from Youtube creators to brands wants a piece of the money-making potential.⠀
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You can learn why brands are turning to ASMR in advertising, at the link in bio.⠀
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Yes, you read that correctly. Walmart is so desperate to fix health care that it flew an employee to a hospital in another state for a second opinion.
U.S. employers are getting increasingly fed up with the myriad of problems with the U.S. medical system. Companies pay for about 49% of Americans' health care and are facing rising costs without any real improvements in outcomes.
Walmart’s approach to treating its employee was published in a case study. It describes how the company has looked for ways to improve overall health outcomes for their workers, so they could return to work, including paying for workers to see doctors at top hospitals who are not incentivized to push for an unnecessary surgery.
You can read more on the case study, at the link in bio.
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