luckily for the new mom, a nurse was stuck in traffic and helped her deliver the baby. both mom and the baby it's a boy, are doing just fine. i think call him slugger. >> that deserves a call from the white house. >> yeah. i bet he will call weekend. >> one in three american jobs will be replaced by robots. john: well i lose my job? will the whole industry disappears? but so far innovation has been mostly good. will we take this too far? >> the latest have the pattern i'm. >> the music industry felt threatened. >> it's free it's easy you know and it's wrong but a lot of people do it.
>> school should not be something that you're forced to go but somewhere that you want to go. >> change is mostly good. that is our show. ♪ ♪ >> now it's time for john stossel. john: changing faster than ever. struggling to keep up. in some ways the changes are clearly good. robots like this are definitely helping to grow jobs much more quickly. >> they take away the backbreaking tasks and that allows the workers to do all of the high-end jobs. that is if they find high-end jobs. but what if most jobs disappear? >> companies planning to replace human jobs with machines is growing.
>> human instinct tells us that would be better if no one ever lost a job. politicians often demand that unions be protective but americans would not be better off if telephone operators and clerks had their jobs protected by a compassionate law. those workers lost jobs because now money once paid by them is put to better use. in the media we almost never tell such a story. it's partly because we can only report on what we easily see and we can only see the people that get fired or take pictures as they leave their jobs on that last day when the factory closes and they have new things they may find. the exciting product that they will produce we cannot see that. you go to different colleges,
you talk about creative destruction. >> that's correct schumpeter was interested in noting that along with destruction is the creativity that pushes capitalism in a capitalist system forward. john: one individual discovered it in france over a hundred years ago. and these cheap imports are unfair competition, they said and government should stop the import. in response he wrote a satire that he titled the candle makers petition. and it read that the manufacturers of candles and street lamps and generally everything connected with lighting petition the government. we suffer from the unfair
competition of a foreign rival. this has such an advantage over us that he floods the market in the product. he offers it at a low price. at the moment the disappears, all the customers desert us and turn to him and as a result an entire domestic industry is rendered stagnant. this competes against us without mercy. and of course the foreign manufacturer that they are upset about is the sun. >> it is traditional hospitality protesting against some businesses like airbnb. >> here is that petition, pass a law ordering the closing of all windows skylights shutters come and curtains.
>> why do we want to bring in all of this competition? >> what jobs are gone that you may be about? >> jobs that are created over the years telephone operators, travel agents as must've been replaced by online booking, we have a lot of grocery stores and automated checkouts, and this needed to be done by him, to
protect their way of life and their industry. >> you see this cave where he's able to gather enough for everyday to take care of his family even if there is a better hunting or forging around a couple miles away he's just got enough for what he needs. and it may be finding the risk. if. john: today they don't resist it themselves they hire lobbyists to prevent this innovation. thank you sarah. i believe in creative destruction, but we all get squeamish when our own jobs are at date. what jobs are threatened including mine.
>> i retain more research on a more charismatic. >> something like that will happen at some point. it's optimistic, they say robots come bearing coffee and we should welcome the artificial brethren. peter welcomes that. but emerging technology specialist john hayden says we should not welcome the new robot overlords. >> humans have finite capabilities. we can only work 60 or 70 hours per week are we going to choose human workers or machines? >> that doesn't scare people the robots are better. i have a lot of other people do it could have nothing to do. >> at something that a lot of
people worry about, but i don't think it's something that we should be worried about. and i see them as our partners and in some cases the tools. >> the industrial age has freed us up to do many things that cannot be imagined 100 or 200 years ago. 70% of the united states, the jobs that we have were part of this and people could not imagine the jobs that we have now, 200 years ago 100 years ago, we cannot imagine the jobs that people will have from now and on many of those are going to be possible because of robot automation. >> here is how the great loss of all his the right the situation say, those individuals the right the simpsons. >> they are placing us with
robots and it's despicable. john: this will happen to 20 people and not all of them are going to find jobs. >> more of them are created in the economy but the number has expanded with the number of people because people are creative and inventive and they find things to do. >> a lot of economists are saying that this is a different era. the gdp has said that the wages are not increasing around the world. >> it is different. and the fact that we are replacing so many jobs with machines, to saying that there will be more jobs created. john: nbc claims that pharmacist, babysitters sportswriters, lawyers, astronauts. >> the two things i wonder is who is going to pay me when my
job is filled and then second is how do you have a sense of purpose when you don't have any more work to fill the day. john: people find ways themselves productive. >> what is taught is that the government questions at the universal basic income question and the welfare that we were just talking about before we came out it's multifaceted and there is not an easy solution but the question is what is the other alternative, that these thousand people are without jobs. john: when government steps in they make is the work. >> there are models in copenhagen denmark, universal
health care that works for them. john: let's show how hollywood imagines the robot dominating future. in this movie will smith argues about the value of people. >> robot write a symphony or turn the campus into a beautiful masterpiece? john: this tv series imagines a future where robots are popular. >> they are capable of bonding empathetically with their clients and respond accordingly. and it's a significant achievement. see one that is fiction. but the issue of reason points out that he is dolls are popular and real and this stuff is coming. >> yes, people should be prepared, some will think that it's creepy and that is their right, but i don't think that it is and i don't think that people's personal perceptions of it the opinion that it's creepy should guide how we fit this
role and in some cases people interact with pets, computers, i have a relationship with my phone, i yell at it sometimes and makes me happy in other cases and this is something that people will like, something we should celebrate and not worry about. john: thank you both. to join this debate please follow me and use the hash tag innovation or like my facebook page and you can post on my wall as well. coming up the dozens of things that have been creatively distorted and now fit inside my tiny cell phone. plus selling a home. >> we have an agent
audible safety beeping audible safety beeping audible safety beeping the nissan rogue with safety shield technologies. the only thing left to fear is you imagination. nissan. innovation that excites. when eating healthy and drinking water just isn't enough to ease my constipation i trust dulcolax tablets. i take dulcolax for dependable overnight relief and in the morning i am back to myself dulcolax, designed for dependable relief
you see something moving off the shelves and your first thought is to investigate the company. you are type e*. yes, investment opportunities can be anywhere... or not. but you know the difference. e*trade's bar code scanner. shorten the distance between intuition and action. e*trade opportunity is everywhere.
home. that's a lot of money for showing one house and so far the 6% real estate commission has resisted creative destruction. some say to negotiate with agents and some says the average commission paid down to 5.4%. but it's still quite a bit. increasingly people have found new ways to buy and sell homes. sixty minutes featured a couple that sold online. >> how much did you save or not going with a traditional realtor? >> overall we saved $26000 and now it can walk down the aisle. john: they saved by selling through a real estate brokerage called redfin. how does that work? >> people say that the world should take notice. we have 10 million people using this website every month and we
try to use technology to make things better and faster and more efficient. we say people tend to $15,000 when they buy and sell a home through us. john: there are internet companies which just list things and they are great. but you still use agents. >> yes, we have our own agents because all of the efficiency that the website creates for us we want to pass on to the consumer. if an agent and software work together that's the only way the you can attack that its% commission and make a real estate better for consumers. john: a year after his company began, they caught a break when 60 minutes interview them. >> we have refunded over $3 million to our customers. >> refunded? >> yes, when we are the buyers agent, we take our commission which is usually 3% and wiki one third of it and we give two thirds of it back.
john: i am amazed that they are almost at 6% and brokerage commissions came down travel agents, car dealers now with the information out there that they struggle to get as much. why do you think that is? >> real estate is a local business that takes time to penetrate every market and so their are hundreds of millions of dollars in revenue coming in at this point. yes, we only have three or 4% market share in some of the most established market. what you have is an industry that's very large and you have a company that is taking the market share hand over fist. we are growing 40 and 50% every year and we still only have a small fraction of the market. john: perhaps you had grown
faster if you haven't named your company redfin. >> redfin is real estate redefined. i like it. >> okay. >> you know every single one of them has to be good. so the business grows at a steady rate and it can't grow faster than that without compromising customer service. someone. >> sometimes government stands in the way. they have laws preventing refunds. >> many prevent us from doing the consumer some of the money back. we like to give four or $5000 back in to the consumer just because we are more efficient in states like this but they just
don't allow it. we don't see how on earth that can be in a consumer's best interest and that something that we have lobbied without much effect. john: good luck to you. coming up, can i get rid of of these credit cards? i am told that there is a better and cheaper way to pay for things coming up and thought... yeah! empty seat next to me. and then i saw him slowly coming down the aisle. one of those guys who just can't stop talking. i was downloading a movie. i was trying to download a movie. i have verizon. i don't. i get that little spinning wheel. download didn't finish. i finished the download. headphones on. and i'm safe. i didn't finish in time. so. many. stories. vo: join us and save without settling. verizon.
♪ ♪ mike fincham was diagnosed with colorectal cancer 2 years ago. it was a priority for mike that he continue to be there for his family throughout his treatment continuing to live the life he loves. that's why he chose cancer treatment centers of america. there he found a comprehensive array of therapeutic options all under the same roof designed to fight his cancer
boost his energy and help him maintain his strength during treatment. mike and his clinical team developed a plan just for him. this is integrative cancer care. this is how mike fincham fights cancer. cancer treatment centers of america. for more information go to cancercenter.com appointments available now. john: when i buy something i often use this stuff. it's called cash. i also use plastic i like the convenience and i get a nice bill at the end of the month, but as usual i am behind the times creative destruction happening until young people tell me what is wrong with you, you are paying with credit cards compared to paying with
paypal and what is next? the ceo of america's most viable company says that he knows. >> our vision is to replace this. 200 million times that we have scrambled for a credit card and we go through what is a fairly antiquated payment process. it looks something like this. john: i sped this up because it goes even faster. but you get the point, using a credit card can be a pain in the neck. >> we have created an entirely new payment process. we call it apple pay. john: it is quicker. >> that is it. john: if it does replace
companies, max says okay. >> i think it's great, but it might not be me and you who decide that the sovereign marketplace. the kids you are talking about could decide that it's time for change and they are the ones who are going to decide. >> if i can consolidate as. >> you are not using paypal and all of these new things? aren't you still using credit cards? >> i am, but i just downloaded this onto my phone and there are other kinds of tech section matins and these are used to doing it and it's better because it's more convenient and the transactions are faster and
eventually we could see prices of transaction fees coming down and you will start to feel that over time. john: i just read that people got ripped off. >> there could be the starts and stumbles. when paypal started off they had problems but they had every intent to fix it and now they are second nature for paying for the stuff online. john: all of these are promising but they use the u.s. dollar which is useful but since i was born this is like 90% of the value. this is what i could've bought back then. that is the reason that i am not putting all my eggs into this dollar. we have heard of this new form of currency called bitcoin. >> they are digital coins that you can send through the internet and transferred from person to person via the internet without going through a bank or a clearinghouse.
john: this is what you are most excited about we met. >> yes i am. >> wide? people have been using it to buy illegal things. >> people use cars but we don't want to vanna cars. john: the price of bitcoins went out. >> people kind of chill out and sometimes there is an irrational exuberance but we sorted out. john: you are most excited about in poor parts of the world? >> millions of people, billions, in fact people who have no land titles or property while they might have is a phone and they
are suddenly empowered. >> that's right, like the predatory government that they live under for example. john: in zimbabwe they had million-dollar bills because there's been so much inflation. >> yes the central banks are often far worse than our central banks, which is not the best but even if we use it here at home and we find it disruptive if the government is not scared of a little competition, let's be what these currencies can do. john: thank you max of the wonderful freeman magazine. and coming up next better ways to learn things. >> school should
73% of americans try... ...to cook healthy meals. yet up to 90% fall short in getting key nutrients from food alone. let's do more... ...add one a day 50+. complete with key nutrients we may need. plus it supports physical energy with b vitamins. one a day 50+ nice morning, scott? aye, or... a mornin' of tiny voices crying out, "feed us"! i don't understand...
your grass, man! it's a living, breathing thing. it's hungry, and you've got to feed it with scotts turf builder. that a boy, mikey! two feedings now in the springtime strengthens and helps protect your lawn from future problems. get scotts turf builder lawn food. it's guaranteed. feed your lawn. feed it! and to keep crabgrass away all season long, get scotts turf builder with halts crabgrass preventer. ♪ music plays love you by the free design ♪ ♪ attendant: welcome back. man: thank you. it's not home. but with every well considered detail . . . it becomes one step closer. no wonder more people. . . choose delta than any other airline. the pursuit of healthier. it begins from the second we're born. after all, healthier doesn't happen all by itself.
it needs to be earned... every day... using wellness to keep away illness... and believing that a single life can be made better by millions of others. healthier takes somebody who can power modern health care... by connecting every single part of it. for as the world keeps on searching for healthier... we're here to make healthier happen. optum. healthier is here. now? can i at least put my shoes on? if your bladder is calling the shots ... you may have a medical condition called overactive bladder ... ...or oab you've got to be kidding me. i've had enough! it's time to talk to the doctor. ask your doctor how myrbetriq may help treat... ...oab symptoms of urgency frequency, and leakage. o the bathroom. myrbetriq (mirabegron) may increase your blood pressure. myrbetriq may increase your chances... ...of not being able to empty your bladder. tell your doctor right away if you have... ...trouble emptying your bladder or have a weak urine stream.
myrbetriq may affect... ...or be affected by other medications... ...so tell your doctor about all the medicines you take. before taking myrbetriq, tell your doctor if you have liver or kidney problems. common side effects include increased blood pressure, common cold symptoms, urinary tract infection, and headache. take charge by talking to your doctor about your oab symptoms and myrbetriq. find out if you can get your first prescription at no cost by visiting myrbetriq.com doug. you've been staring at that for awhile, huh? listen, td ameritrade has former floor traders to help walk you through that complex trade. so you'll be confident enough to do what you want. i'll pull up their number. blammo. let's get those guys on the horn. oooo looks like it is time to upgrade your phone, douglass. for all the confidence you need. td ameritrade. you got this.
>> john: i hated school it was so boring. we just sat there windups sitting in a desk right next to each other. each kid a few feet away from the bill we are told to be quiet until interact which is so unnatural. education has barely improved because it is dominated by government. sometimes union and they fight but to date have many more exciting tasted -- choices they learn math and science will playing video games i think there brainwork much faster and better than mine did but i was sitting in class. john: covering technology for "forbes" she says education is finally getting some creative construction. >> there is no better time whether a teacher or a
student or a parent. john: the teachers are worried. >> the technology is not meant to replace teachers but making their job easier and better. remember you listen to the class then go do homework? the models looked at around c ago whole and to listen to the boring lecture is said to come to the classroom you we're doing work with the teacher to get one-on-one attention. john: one of the first in a vengeance because of youtube from a guy named khan trying to help him a lecture so a friend said put some of your lectures on youtube and given the shot. >> soon thousands were watching he got letters from
the middle east and africa. now he is funded by bill gates and offers lectures from history and economics to computer science. his videos argued millions of times and now in regular schools the watches videos where they learn more than listening to their teacher lectured. is excited he gets kids so excited about math. >> get home i will log god if i have some time. john: this is working? >>, an academy -- khan academy heston million users with a 6500 videos not just traditional students that go home from school but maybe someone 65 years old to did not finish school can have an education and they get their ged your back to college.
john: much last cost. >> free actually. john: summer even totally based on first allies computer learning and you can see why watching this video is called alt school. >> everybody asserting the same thing at the same time. but here you worked your own level. >> schaede be the place you want to go i have a play list card on debates while others may be into a coating >> this started with 15 kids now web 500. >> the school in brooklyn that is opening of has extended 50 applications for 60 slots it is a very personalized approach to learning not every kid turns the same way and they're finally system settler -- allow them to burn at their
pace it is very cool. john: for older people she is excited about a company that teaches all kinds of skills. >> to do want to be? a developer? better photographer? how we learn when you need to know? spined thousand dollars for a workshop or read another boring book? what if there is a better way to master the new skills? >> this is cool because anybody can beat us a teacher it means u academy if i want to be a journalist you to teach a class and not to be a world-class journalist. john: and i could make money one made $60,000 in one
month. >> you can make money for what you know, how to do vast and then the student pays to and they take a cut. john: this is cheaper than college? >> if you want the knowledge you like it that he will not get a degree to put on though wall is a skill leather photography or baking or design something i have a great skill john: does the establishment resist the creative discretion -- destruction question mark some all well there's to self-destruct they don't want to but they have to with there one to keep taking money i love the boy who said schools should be interesting. >> a novel concept. john: creative destruction and the music business. ♪
you total your brand new car. nobody's hurt,but there will still be pain. it comes when your insurance company says they'll only pay three-quarters of what it takes to replace it. what are you supposed to do, drive three-quarters of a car? now if you had liberty mutual new car replacement, you'd get your whole car back. i guess they don't want you driving around on three wheels. smart. with liberty mutual new car replacement, we'll replace the full value of your car. see car insurance in a whole new light. liberty mutual insurance.
100 years ago i played records the sound was scratchy and it was easy to damage the records had to keep getting up to change it. the next adventure in was the cassette player was great and these are easier to handle then people got excited about the eight tracks i invested in that technology and i lost money in cds and music has continued change. then when a file sharing service appeared and freaked people locked up consumer realize they could get the music that they wanted for free. john: free music and stations and record companies were upset how do they get paid? to make a hijacked music without asking.
john: the political class when they order people to do something it just happens they did get napster declared illegal but that didn't stop for downloading from other sites. >>, dishonest you have? 600. >> 6000. >> is wrong but a lot of people do it. john: that caused a lot of creative destruction and the music business. >> no longer do have to go to the store. >> an icon of musec closed its doors forever. >> soon there will not be record companies there is no more record industry. >> but there is but the business just changed emily white says the changes a good thing. >> absolutely because they are finally embracing technology instead of fighting in suing fans like
they did with napster. john: that was bad but you get paid a share of with the musician gets i assume they get much less? >> no bid has cracked the industry wide open so they can record anywhere and distribute worldwide at the touch of a button and it is very exciting. john: these to have to wait to get recognized or getting a deal. now that they can make their own deals. >> you can build up a fan base on speeeight -- youtube it is very exciting. john: but the album sold 755 million copies cds and cassettes but today it is 150 million there were charging $18 every cd where is it coming from.
>> ultimately is dead. john: power records out of business starbucks was selling cds and said they will stop. >> how did you field paying $18 a cd? there is why people went to napster illegalize that we would not have this culture of freedom we are at now. john: so streaming music goes up. 164 billion but the musician gets 1/7 of a cent but 150 people listen before it day make money. >> is the current model but most people will disrupt but we do have electronic artists the number two revenue stream on spotify so the more people better listening the more revenue there is.
john: so you find a new listeners to make it makes them more accessible and pandora is experimenting with this service cell that is for work famous interact with musicians. if you are a 15 year-old girl listening tunic jonas if you put a thumbs-up then it is possible sudden the he will appear and interact hello. in this case he invited his fans to deal is a long. john: i am most big stars will not do this? to read more are. making bad genuine connection can now happen because of streaming and data knowing who the fans are and where they are simic the most sick amazing
example the did not realize how many things it has destroyed toenail fungus? don't hide it... tackle it with fda-approved jublia! jublia is a prescription medicine proven to treat toenail fungus. use jublia as instructed by your doctor. once applied jublia gets to the site of infection by going under, around and through the nail. most common side effects include ingrown toenail, application-site redness itching, swelling, burning or stinging, blisters, and pain. tackle it! ask your doctor now if jublia is right for you.
know your financial plan won't keep you up at night. know you have insights from professional investment strategists to help set your mind at ease. know that planning for retirement can be the least of your worries. with the guidance of a pnc investments financial advisor, know you can get help staying on track for the future you've always wanted. john: we like our smart phones but did you ever think about what this destroyed? landline phones we are no longer tied to the court we can move around.
i don't need a printed newspaper, they use to make good money from classified ads now i can get all of these for free on my phone. craigs list updates instantly. not the classifieds. they are more expensive. should there be a government program to retrain people? i'm surprised "the new york times" has not lobbied for that. we no longer need encyclopedias. this is one of a 23 volume set. it replaces dictionaries. notepads. calendars. phone books. >> for the nearest anything they check the ad in the phone book. john: not today. it is not a big deal when she says grabher wants to
talk to you. >> at&t. reach out and touch someone. john: due to creative destruction it is cheaper a ted minute phone call used to cost $11 now is basically free. lifo replaces takeout menus. rolodex. this used to sit on my desk and also eliminates snail mail. fax machines. paper maps gps. compass. music machines i was excited to buy this big thing when i was the kid in if you wanted that thing called stereo.
♪ as low was $129 that is $1,000 in today's money. a smart phone essentially replaces everything in this advertisement and that cost more than $5000 and even that was an improvement things too rapid creative destruction of the music industry's. , the stereo replace the gramophone and cassette players. boombox is. smaller boom boxes been a much smaller box. >> most people just see the empty box but somebody saw something quite different. ♪
the only cassette player as small as the cassette case. john: the walkman was replaced by the mp3 like the i pied then it is all in my phone for a few hundred dollars her is a bargain in replaces the old typewriter and this was eliminated by a great new invention it dances across the paper at incredible speed. john: a great invention is is:most of what it did i could do now by talking into my telephone. it replaces to recorders even my old photo albums are not necessary. when pitchers are in here.
dvd is. vcr. >> my parents don't need me anymore. john: the vcr is gone i can do that here. i also have games that do more they and the bigger videogame consul used to do. with a video camera i don't need this. i remember i got excited when it was this small. >> the great new change of camcorders. john: now it is inside my phone. and i can pull it out to record something a criminal does or the abusive police officer. this is a security device it also replaces alarm clocks
and a stopwatch. i still like to use this two-time tv segments i asked a staff member if she knew what might the -- where my stopwatch was and she said what is a stopwatch? she could not fathom using wood out on her phone flashlights. there is a nap that does that. the egg timer. itt is my phone to change tv channels. we have even mentioned the thing that the phone does like music recognition, a travel directions, traffic. and the current stars in the sky right now. who knows what is coming next. i cannot even imagine it is
better and cheaper. thank you creative destruction. thank you free enterprise for allowing it to happen. that is our show. see you next week. hello. i'm eric shaun. welcome to a brand-new hour of america's news headquarters. >> i'm arthel neville. let the politics begin to sell the framework deal with iran over its nuclear program. the president said it makes us safer. skeptics say it gets iran one step closer to getting the bomb. new details, shocking details of three women who face terrorist charges. prosecutors say two of those women in new york city wanted to make history while the one in philadelphia, they say she wished to become a martyr. and you just might want to put down that s