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tv   On the Money  CNBC  May 7, 2016 5:30am-6:01am EDT

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everyone. welcome to "on the money." the youtube star who's making real dough. how she turnz her love of cooking into her channel and became a millionaire. they've been business partners more than 50 years. the secret to warren buffet and charlie munger's success and why their first jobs played a big part. >> the main thing we heard from the grocery store was we didn't want to work with a grocery store. >> how you can clean up if you're looking for work but might need to get your hands dirty. what skills are in demand. this mother's day weekend the best companies for moms "on the money" starts right now. >> this is "on the money" your money your life your future.
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now becky quick. we begin with youtube, the downline video platform where we go from music and beauty tutorials. despite having more than a billion users the google owned brand has yet to make a profit according to the "wall street journal." some youtube stars are making a pretty penny and that is our cover story today. ever heard of ian and anthony? how about their users name smosh. they were among the youtube top earning stars in 2015 making $8.5 million for their comedy skits. smosh is part of youtube's partner program which gives content creators the chance to cash in on videos. millions participate but only a handful make big money. michele phan made $3 million and the comedy team of rhett and link made $4 million. to make money partners agree to let youtube sell ads before their videos with youtube
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keeping 45% of the revenue. that leaves space to lure content creators away. vessel and facebook have tried to get youtube stars to post their content on their sites first. and this week video site vineo according vhx that lets the creators charge money to view their products. ad revenue alone isn't enough so it launched a premium subscription called youtube red in october. for $9.99 a month subscribers get ad-free videos and mutic putting the platform in competition with spotify and pandora. despite the competition, youtube still has the eyes of one third of all internet users and attract morse 18 to 49-year-olds than any cable network. while you may not know our next guest's name your kids probably do. rosanna pansino starred in her cooking youtube channel called nerdy in 2011 showing the world how to bake goodies like cake pops and emoji cookies and has more than 6 million subscribers
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and also a "new york times" best-selling author for her cookbook called "in other wordsy nummies." thanks for being here. >> thanks for having me. >> a huge success, somebody who figured out how to make it in the digital world. "forbes" reported you made $2.5 million which blows my mind. congratulations. >> thank you. >> how did you get into this? >> i started creating content for fun. i want a creative outlet and it wasn't about business at all. i wanted to be comfortable in front of the camera and have somewhere to create something. i started posting videos and slowly, over the last five years, a real community started to form and grow and they demanded more content. youtube allowed me to grow and create this very small digital media production team. we're a small team, team of eight, but i think it's really incredible because with the team of eight we're able to get about
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60 million views a month. >> crazy. >> more than some popular tv shows. >> yeah. >> so i find it incredible. >> you were already an actress, and had been on got "glee" and other stuff. when did you know, look, this is a real thing. what was the tipping point where you realized i can do this? >> i don't know when exactly the pinpoint moment was, but there was a lot of moments that stand out to me. >> what's one? >> one of them was i got this huge response from the on-line community. i posted a baking video as a tutorial for fun and i just got this overwhelming response, so much love, so much support, people going you need to do this and we love this and want more of this. please. that was a moment for me where i went, this just feels so real. this is a community. and another moment was the first time i was ever recognized. i was at a chipotle eating a burrito and someone who was a viewer of the content i was
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creating came up and said ro. it's you from nerdy nemmies. can i take a picture, started video taping and i had a big burrito and things were changing. >> you will remember the burrito for the rest of your life. is there a secret? there a a lot of people who post things on-line or youtube or other platform? what makes you stand out? >> for me the content comes first. so does my community. i think being really interactive is something that i strive to do all the time. and putting the content first. >> we're looking at the muppets who have joined you. neo degrass tyson. how do you lure stars like this on to the show or do they find you? >> it goes both ways. we've met all -- in all different ways. some people i met in person, some people i met through twitter, some people i had my agents kind of reach out and just put their feelers out to see if they were interested and they set up a phone call and we
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vibed so well. yeah, let's do something together. >> youtubes has been the platform you built all of this from. do you see yourself branching out to our platforms too? other users? do you stay youtube. how do you make money? >> those are good questions. youtube is my home base, i feel like that's where my community has grown over the years and so i feel really feel connected to it. it has this such large community and if i do do a project, say a web series or a movie, which are things that the communities has been starting to ask for, i'll have to look at if youtube is the perfect home for that or maybe there is a different platform that is the home. i need to go where my community is. >> sure. >> but i would love it to be on youtube because that's where i feel the most connected. >> is it -- do you make money, though, through the advertisements on youtube? >> uh-huh. >> is it through people sending you stuff? the book deal? what's the principle way the income comes through? >> how do you make money on
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youtube? >> yeah. >> that's a good question. it's the same way you make money on television, the same way you make money on any website, is advertising. >> well ro, thank you so much if for joining us. now here's a look at what's making news as we head into a new week on the money. a softer than expected employment report for april. the economy created 160,000 jobs last month. that was below expectations and it was the fewest in seven months. the retail sector was weak while health care was strong. the unemployment rate remains at 5%, an average hourly earnings climbed by 0.3%. it was a mostly ugly week for stocks. the dow tumbled midweek mostly on worries about the slowing global economy though the markets rebounded on friday. oil prices surged this week climbing above $45 a barrel in part because of a wildfire in alberta that could slow the supply in that oil rich region. the fda has put new rules in
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place for the self e-cigarettes and they will be regulated the same way tobacco cigarettes are now. hundreds of brands will have to seek federal permission to stay on the market. looking for a new job you can clean up in more ways than one if you have the right skills. there's one career path where the jobs are plentiful, environmentally friendly and pretty lucrative on top of it all. mary thompson joins us from east prove dense, rhode island. >> behind me a firm is doing soil remediation, cleaning up this former industrial site to make it safe for future development. now work like this is plentiful these days and so, too, is demand for the engineers who can do it. over 150 years old, the global engineering and consulting firm arcadis is finding new business in making what's old new or at least clean again. >> our environmental business is the biggest. >> reporter: years after love canal cleaning up toxic sites and making sure others comply
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with state and federal regulations is a growing business, expanding the market for environmental engineers. >> contaminated cleanup is a huge sector. >> reporter: frank runs an environmental recruiting firm ape long with regulations he says generational turnover means these workers who plan and oversee cleanup sites are in high demand. >> if i can get some genetic material and shoot it into individuals and create a five to seven-year professional engineer i would be a wealthy man. >> reporter: the median wage for these workers over $88,000. a price tag that gets bigger with experience, added degrees and professional licenses. the number of job openings getting bigger too. the government forecastsing a higher than average 12% increase in environmental engineering jobs by 2024. now becky, they are one of the firms hiring. it is expected to add 400 environmental engineers and scientists this year and looking to expand its payrolls by 15 to 20% for the next five years. back to you. >> mary, what if you're
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interested in this work but not an engineer or a geologist or something, what other jobs are available and do they pay as well as some of these scientifically based jobs? >> well, i think at the top of the rung are the engineers but you have environmental scientists and job growth there is expected to be about 11% through 2024 and then if you don't have an advanced or a college degree, there are jobs for environmental technicians. you basically need an associate's degree for that and growth there is expected to be about 10% through 2024 and the salary range there about 40 to $44,000 according to the government. >> mary, thank you. getting down and dirty with it. we appreciate it. up next, we're on the money. you've heard of warren buffet, one of the richest men in the world. he's had a business partner for over 50 years who's as smart. warren would say smarter. if you don't know about him you should. later this mother's day's weekend, companies that are working for working moms.
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warren buffet and charlie munger have been business partners and friends since 1959. together they built berkshire hathaway into one of the most successful companies. while one may be the more famous name both are equally important. i sat down with the two men in omaha and asked about the secret of more than 50 years working together. >> obviously we like each other a lot. we have minds that work the same way to great degree. we find the same things quite humorous. we find the things we deplore, we agree on. we've never had an argument. lots of disagreements. whenever we disagree, charlie says, well you'll end up agr agreeing with me because you're smart and i'm right. i haven't figured out the answer
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to that yet with 56 years of practice. i would say every time i'm with charlie i have at least some new slant on an idea that causes me to rethink certain things and we've had absolutely -- we've had so much fun in the partnership over the years. >> it's been almost hilarious. it's been so much fun. >> when we sat down, warren said charlie, said to me, charlie being around makes me not only smarter, but it makes me behave better. >> well, we both have the theory that you should hang around good people, always behave better every year that you behaved the previous year. as you rise in the world it's particularly important to know that rule. and i don't think we deserve much credit for morals because we early figured out the world would reward us better if we behaved that way. >> there's no costume. >> yeah. >> charlie has to remind me that
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occasionally. >> i constantly quote warren and everybody always loves it. i said you take the high road, it's uncrowded. >> yeah. >> such a good idea. >> you do not run into heavy traffic. >> you got a huge advantage on my road. there aren't too many competitors. >> can you talk about something you've thought about differently recently because of your interactions with each other? >> we both have this fundamental idea that world works better if you make your relationships win/win. and we both early learned that the way to get a good partner was to be a good partner and these are very old-fashioned ideas. and they just work so fabulously well. >> warren, how about you? what's something that charlie has made you think differently on recently? >> he's kept me from a lot of mistakes in terms of getting in with people that might be a mistake to be in with, as well as businesses. he's -- it's been heavy lifting
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on his part but he's improved my behavior. >> and charlie, you mentioned working for warren's grandfather at the grocery store. you both worked for him. >> i certainly did. >> what did you learn there? >> well, i learned how hard it is to work for ten hours for $2. it was not a gentle, loving relationship. he worked us pretty hard. he worked warren pretty hard. worked everybody pretty hard except himself. >> i once with another fellow john pestle, we shovelled wet, deep heavy snow for about four hours and we couldn't unclench our fingers or anything. i went to my grandfather and he said, how much i pay you boys. a dime is too little and a dollar is too much. the main thing we learned from the grocery store we didn't want to work in a grocery store.
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>> how often do you two get to talk now? charlie, you're in california, on the west coast. >> we talk less than we used to because we don't need to talk. >> yeah. >> it's unnecessary. berkshire has been a real joy to both of us, and not just because, you know, the stock made us rich. it's been our own little test tube for some ideas that weren't and still aren't prevalent in american business. we got to do things our own way. >> like what? what's an idea? >> we tried to create a model that we believe in. and we want it to work because we believe in it and it's a failure, you know, who's going to pay any attention to it. everything has worked out well. >> if you two had one goal that you would like to accomplish in the next year, what would it be and i think i probably know for you, warren. >> you know what i would say.
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>> i'm guessing you're looking for one more big deal. >> just one more. i won't ask for another one, not until the first one is done. no. i'm always looking for ways to improve berkshire. >> charlie, how about you, a goal for the next year? >> we have something going here that's going to keep going more or less the way it has under us, long after we're going. i don't think berkshire is going to change. >> thank you both for your time today. really appreciate it. >> thank you. >> up next we're on the money, working moms are a growing part of today's labor market and some companies are more mom friendly than others. how companies are changing and how to find the right one. right now as we head to a break how the stock market ended the week. cathy's gotten used to the smell of lingering garbage...
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this weekend it's all about pampering mom and making moms happy is becoming a priority for companies as well. nearly half of today's work force is women and many of them are also mothers. what changes are occurring and which companies are leading the charge. senior personal finance correspondent sharon epperson joins us now. there was a new survey that looked at the best places to work for moms. who came out on top and how did they do the survey. >> well, there are one in six people in the work force today that's a mom with kids under 18.
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a lot of folks like us out there. a lot of moms want to know where should i be working, what's going to have the best parental leave policy, the best gender equality, the best job satisfaction and there's a website called fairy god that ranks companies based on that and what they found was some of the companies that did the best, are like salesforce, acen tour, price waterhouse coopers. when you look at other surveys about diversity or employee benefits unique, paying down student loan debt, some of the same companies are on those surveys as well. they're at the forefront of looking at employer benefits wholistically and gender quality and parental leave. >> maternity leave has gotten so much attention lately. some companies talked about how they're give morgue maternity leave and parental leave not just to moms, but dads too. >> what's interesting, there's still 88% of companies out there that do not have employer-paid parental leave policies.
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that's really a high number. a number of companies in the tech sector have been at the forefront here in doing this. netflix, 52 weeks of parental leave. >> wow! >> etsy at the top and ebay. >> one of the job characteristics that working moms are looking for? >> flexibility. that's key. i mean, there's only a certain time in life that you're going to be focused on the parental leave policy but you want flexibility overall whether you do or don't have children, planning to or already have kids at home a lot of women want flexible. job satisfaction is key and pay but the flexibility is something a lot of women are looking for right now. >> my guess would be something a lot of people are looking for, whether taking care of a sick parent or another issue that comes up in the family. >> a lot of companies are realizing that and having to come up with more flexible schedules for their employees or they're losing the full-time workers. the other thing that's interesting some companies are realizing maybe it's more beneficial to hire someone who wants a flexible schedule and let's get a bunch of freelancers and so for those looking for
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work and for employers looking to hire, a power to fly is a company that matches women with projects in the technology sector at a high level, not just a temp job, like some people think of a temp job as administrative assistant, a high-level project based work from home type job. >> thank you very much. >> my pleasure. >> up next "on the money" a look at the news for the week ahead. and imagine wearing this on your finger. it's the biggest diamond discovery in the last 100 years. that rock is over 1,000 carats. white crush your hand. we'll be right back.
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for more on our show and bests go to our website and follow us on twitter @on the money. here are the stories that may impact your money this week. earnings reports from dow deponents disney and cisco and toyota and kohl's. tuesday the third anniversary of 1 world trade center becoming the tallest building in the western hemisphere. friday retail sales for the month of april. always a closely watched number. we will be getting a look at inflation when the producer price index is released. look out, friday the 13th is coming. you better watch out for black cats, broken mirrors and make sure you don't walk under any ladders. it looks like a chunk of ice or a piece of rock candy, actually it is the world's biggest diamond according to sotheby's.
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lisa is the largest gem quality diamond discovered. it was found in botswanna and will soon be up for auction. the 3 billion year old diamond is about the size of a tennis ball expected to sell between 70 and $90 million. if you're interested the auction will be held in london on june 29th. that's the show for today. i'm becky quick. thank you so much for joining me. next week if you're looking for a new or used car how to avoid a lemon and find a sweet ride. each week keep it right here. we're "on the money." we'll see you next weekend. i asked my dentist if an electric toothbrush was going to clean better than a manual. he said sure...but don't get just any one. get one inspired by dentists, with a round brush head. go pro with oral-b. oral-b's rounded brush head cups your teeth to break up plaque and rotates to sweep it away.
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