Skip to main content

tv   Stossel  FOX Business  July 2, 2016 1:00am-2:01am EDT

1:00 am
. john: technology is changing our world. driverless cars will transform the commute. >> people are going to be reading the paper. john: already robots run some hotels. techies have changed election campaign. >> slipped hollywood tv ad had its limits. john: and now some republicans say we've caught up. >> that's the power of technology. john: technology totally has changed entertainment. >> saved my life. john: her videos reached a billion. >> this is amazing, this is real. >> imagine that. like, feeling that. john: these people landed an education. >> technology is evolving
1:01 am
rapidly and schools can't keep >> the future is going to be full of surprises. john: politicians often price the future. >> this is ridiculous, and it's grotesque. john: you say it's exciting. some people say it's creepy. it's disrupting. >> and i don't disagree in any way. john: exciting or creepy, the tech revolution is now. i assume many of you maybe most of you own one of these smartphones because of these, political campaigns today are different. >> we're volunteers with the ted cruz campaign. i was wondering if i could ask you a couple of questions. >> door knocking's old but the way steve and debbie do it now is new. they are at this store only because their phones told them. the people who live here might vote for ted cruz. >> we have set out the object at the outset of the campaign
1:02 am
to run the most data-driven, data analytic campaign in the history of politics. >> obama did that both times he ran. >> a secret weapon used to defeat mitt romney, a highly sophisticated data mining operation. >> beyond anything that modern political campaigns have seen. >> the campaign manager for the obama campaign says the biggest institutional advantage they had was the data. >> emily studies how data influenzas politics. >> many republican insiders tended to be very exclusive and a little bit close minded when it came to using methodologies. however, after 2012, that changed. >> they are a super bowl team ought to respect deeply. >> the obama campaign conducted more than 500 different experiments on their website. they found when they had a picture with president obama with an inspirational quote, they raised significantly more money than when they had the same page but just a picture of obama. >> obama's data operation was
1:03 am
led by harper reed. >> the obama campaign real heroes. harper reed, the towing mastermind behind obama's win. >> i'm an incredible person. this is a very straight forward thing here. john: you got credit for obama's victory. >> i was just a cog. i just looked differently so the media didn't know what to do with me. john: the media said the romney campaign was high-tech. >> on election day, the campaign will activity a sophisticated system for tracking their get out the vote entries. john: but we know how that story ends. romney had four people working in data analytics. obama had 50. and he had something called -- >> project narwhal. john: a data program code name. >> named it narwhal, a name of amazing strength. >> the actual truth is pretty foreign. we named it narwhal because we wanted a code name that was fun to say. really a joke really. once it leaped, nobody what to
1:04 am
do because then there was this mythical narwhal. john: meanwhile romney's team had orca, another name for another sea creature. on election day, it crashed. >> you literally have 35,000 volunteers whose job is to get out the vote. john: have the republicans now caught up? >> if they haven't caught up, it's their fault. john: she's definitely considering ted, which is fantastic. >> we have caught up, says the cruz campaign. >> i went and bought a copy of david, obama campaign manager's book, gave it to our senior team. said we are going to nakedly and shamelessly emulate this. and that's pretty much the campaign on this campaign. >> he made it very clear that this was an area to use data and analytics that he would not fall behind in. john: chris wilson onruns cruz's technology operation. >> why do you think the democrat were ahead of the republicans? >> the silicon valley valley environment, it tends to be more liberal, tim cook, the ceo of apple, the founders of google have been aggressive
1:05 am
about taking some of their technologies and applying them and helping the democrats use them. >> going to be working in west des moines? >> check your phone. john: each volunteer's phone tells them where to go. >> you're in here for a reason. you've caucused before as a republican. john: steven explains how it works. >> how it popped up the names of the people living there, their ages, we hit their name, and it gives us a script to go by question-wise. can ted cruz get your support in february? >> i haven't quite made up my mind yet. john: depending on the voter's answer, the phone tells steven what to say next. is ted a candidate you're considering? >> very much so. >> right. totally different where we used to do this. where a is in the past i might be able to write down but this is instantaneous. john: here the volunteer's phone told him don't knock on this guy's door and the man
1:06 am
was curious why. >> i'm a democrat. >> okay that's why you're not on the list. >> the data had determined that knocking would have been a waste of volunteer's team and the campaign's money. they know a lot about each voter. >> thank you. bye-bye. >> it's a subscribed to this magazine or watch this tv show, then you know they're more likely to vote for ted. >> that's two factors of 50 to 70,000. >> they even know what you eat. >> for somebody who buys arugula, they are a little bit more democratic versus iceberg lettuce, trucks are driven more by republicans,. john: how do you know this? >> this is all information on the open market. >> they're companies tha that amass an aenormous amount of consumer data, but the type of data they collect are based on transactions that you and i make. whether we opened a store loyalty card, whether we subscribed to a magazine, all of this is logged. when you get a knock on your
1:07 am
door from canvassers, message that you receive is likely informed by this kind of data analytics. john: do voters mind being targeted because a campaign has specific data on them? >> that's a scary thought. i think it's excellent. use every tool we can. john: the corporate world has done this for years. >> one day an angry father showed up at a target store and asked to speak to the manager. the manager came out and the father said you have been sending my high school-aged daughter ads and coupons for baby cribs and diapers. she's in high school. you're encouraging her to get pregnant and the manager just felt terrible. he said i'm so sorry. john: but one week later. >> the manager called the father to apologize again and said actually i owe you an apology. i just spoke with my daughter, my teenage daughter, turns out she's pregnant. john: target knew before dad new. >> target had identified 25 different products that when people start to buy those in things combination with each
1:08 am
other, it means that they're likely pregnant. john: the cruz campaign says it knows even more. what your personality is like. >> we are doing things that no one else is doing. . john: personality modeling tells chris and his team. >> who's going to vote, how they're going to vote. john: chris shows us the database what voters care about. >> responded to different colors, they responded different pictures,. john: reach personalities the campaign determines to be more traditional, they use blue or neutral tones. red or orange if they think you're an extrovert. >> if we're talking temperamental voters, alarmed, vulnerable,. john: so your foot soldier goes to his door, they know what buttons to push? >> they do. it's different whether the male comes to the door or the female comes to the door. john: on immigration, whether they are on national security, where they may be on gun rights. john: not just where they are
1:09 am
but why. >> maybe when the person supports the second amendment be when they were a child, they went duck hunting with their grandfather. so for them, it brings back nostalgia. now, if that's the case, you can craft a message that hits to why they care about it. you're a single mom. if you're carrying a revolver in your purse, you don't get to get mugged. a duck hunting ad is not going to do a thing to connect with you. so just on the second amendment, we have a dozen different messages. we have a cruz app that thousands of people across the country have downloaded onto thigh phones. john: the obama campaign did that too. >> by signing up for the app, they were able to identify the friends of the supporters, and they would send messages to their supporters saying, hey, would you click this button to share with this friend? and it reached about 5 million people. john: and having friends talk to friends is apparently most persuasive. >> the best way to connect
1:10 am
with a voter is not a tv ad, although that helps. but it's for them to hear why a person is important to them, a friend or family member. >> we've made it a game, so we have grassroots activist competing to spread the word. >> we would like for you to reach out to ten of your friends today. if you do so, you'll get 1,000 points and you're only 900 points to making that next level. . john: what do you get with points? >> you get badges and meet up the ranks to compete with your friends who can beck the best ted cruz. john: this motivates people? >> it absolutely does. >> and there are some that are all the way up to leader or patriot. and i'm working my way there. john: now, my producer back there tricked me on putting it onto my phone so now my friends are going to have their privacy invaded by you? >> absolutely not. john: however, in 2012 obama supporters did have their privacy invaded. >> you may not necessarily know very much about the campaign and how much telephone about you. john: obama's campaign is watching you.
1:11 am
sounds like or well. >> i do remember a lot of people who wanted to volunteer for the campaign. innovation doesn't work without it being accessible. >> but people were comfortable as soon as facebook decided to shut down this feature. john: sounds like ted cruz is doing something close. >> the difference is this time they're telling you that they are going through your friend list, and they ask you for your permission and tell you everything that they collect. john: shouldn't web nervous that our candidates are spying on us? >> some people feel it's able to say manipulative that campaigns are trying to use this data to shape behavior, try to tell you what you want to hear. >> this is sleazy, it just lets you pander to certain people, give them what they want. >> if i'm talking to you about common core and the only thing you want defeating isis, making sure the iran treaty is thrown out on the first day of office, i've done a complete disservice to you as a voter because you don't know where ted cruz stands. john: despite running fewer commercials than other
1:12 am
candidates, cruz by using data to target potential supporters and then convincing those people to go to caucuses won a surprising victory in iowa. >> that's the power of technology is that it amplifies the voice of each of us. a slick hollywood tv ad. using technology to communicate with, to empower the grassroots, now, that's the key to winning in politics in the 21st century. john: winning in politics. i see why that's important to him but let's remember that in politics, there's just one winner. the good news is that in the rest of life, the best of life, we have choices. everyone can win. and that's what the rest of this show is about. coming up the robot car. this is exciting and scary. but next. how youtube let's people
1:13 am
1:14 am
1:15 am
1:16 am
. john: three years ago amateur baker decided to post videos of her baking on youtube. i would call this a cute hobby except that today 5 million
1:17 am
people subscribe to her youtube channel and her videos have been seen more than a billion times. i'm envious, i've worked all my life, i never reached nearly that many people. >> you have more twitter followers than i do. john: how come you're the most popular baking show? >> i have no include and that is a good question for everybody. john: she didn't plan to bake for a living. >> i worked as a pa, a hand double, i worked as an extra. john: she got a job as a dancer on the tv show glee. that wasn't a career? >> being a union dancer wasn't fulfilling for me. i wanted to do more. john: so she posted baking videos that she shot at her parent's home. >> icing's getting cold. it's going to take about half an hour, so i'm going to play some -- >> it was just a creative outlet for me. john: she told her agent about it, and he wasn't happy.
1:18 am
>> my agent made it easy for me. he told her. >> if you don't stop making youtube videos, we're going to drop you. john: why did you decide youtube? >> it was getting more and more comments and the community just kept growing. john: and youtube fans started asking for autographs. >> it was the first time i went to target and got recognized about i agal who worked at the store and she said i love the content you're creating. it makes me and my daughter so happy, which inspired her to start baking. and i was trying to tell my agent that there's value here. this is amazing. this is real. john: comedian green is another performer who caught on youtube. >> youtube saved my life because i was doing stand-up, and it wasn't going anywhere because i'm not that fun. but on the internet in a few minutes people were, like, she's great. john: even got to interview the president. her youtube channel now makes her $50,000 a year. this swedish guy makes $12 million just by talking while playing video games.
1:19 am
>> no. no. drink the coffee. you want to drink the coffee. john: he leads of highest earning youtube stars. rho sedan is number eight. she makes 2 million dollars. >> the youtube platform is such a good platform for peop content and don't have investors. john: youtube keeps about 40% of the money. >> uh-huh. and that's fine. john: this is a new way to discover unknown talents. >> journalist steve covers the music business. >> youtube is the great equalizer right now. if you have an idea, and you're talented or not talented, you can put something up on youtube. john: justin bieber got his start posting this video when he was 12. the youtube numbers grew and then a record label called. >> he have now and then youtube creates a star. john: it used to be there were gatekeepers. some fat guy with a cigar said you've got to please me. maybe sleep with me to get the record. >> right. those cigar
1:20 am
chomping guys, they dominated the record business for many, many years and they were the gatekeepers. john: because it cost tens of thousands of dollars. >> right. it cost money to market the album, put your song on the radio. today, you can get your album to million dollars of people around the world with a click of the button. they're not banging on the door of sony music and asking for permission. john: next showcases technology and new artists. >> look at lindsey sterling. she plays the violin. imagine her showing up saying, please, can i get a record deal? i'm really good at the violin. john: she did. she was turned down. >> that's right. all of a sudden she becomes a youtube sensation. fills stadiums now. you can't argue with that. that is when the crowd decides. >> i think that people are very smart, very intuitive, and they pick up on what you love when you're doing, they
1:21 am
can see it. john: this threatened the music industry. >> the traditional model has been selling pieces of plastic that contain all the music. and hundreds and hundreds of millions of records are being sold all the way up to the britney spears and backstreet boys era and people were just making money hand over fist. john: not anymore? >> not anymore. in the late '90s, suddenly the internet kicks in. >> how many do you have on your computer? >> about 600. >> six or 7,000. >> napster and mp3 came in and allowed people to essentially share all the music in the world for free. and that was a threat to the business model. john: the music industry sued. >> started by suing napster and lime wire. john: so they freaked out and sued these people and sued their own customers sometimes. >> they sued a 13-year-old girl and her family. and it turned out to some some pretty bad publicity for the record industry in the end. john: book title, appetite for self destruction. now the record labels license their music to streaming
1:22 am
service like apple, spotify, and pandora. john: these changes now happen so fast. >> yeah. they do. the new thing is streaming. john: which pays musicians just a fraction of a penny per stream. >> how does a musician make money? >> going on tour. it's always been important but more important than ever now. john: but doesn't that mean fewer people can make a living? because not everybody can go on tour. >> it does. it's a very diminished business than ten years ago. however, there are more opportunities for younger bands, littler bands to get big. john: and the audience wins too. >> we have all the music we could ever want for free or for a minimal price the our fingertips on our mobile decisis devices. the golden age for music for consumes right now. john: but not yet a golden age for education. next we'll show you how these
1:23 am
1:24 am
1:25 am
1:26 am
john: one part of america that clearly needs to be faster,
1:27 am
better, cheaper is education. and the tech revolution has plans for that too. >> where we at? let's go. let's go. john: these young people have gathered to hold a hack-athon called hacking edu. a hack-athon is usually a weekend-long gathering where computer, in other words, try to invent something better. hack sounds like a criminal enterprise where you're breaking into people's computers. >> what we mean is build. hack. john: hack just means build? >> exactly. hack means build something quickly bout without worrying about poll i object or making something pretty. john: alex e-mailed 50 friends who were frustrated by the education system. >> alex always had this grand vision of we would have this huge event with over 1,000 people. john: and you got this. >> we did. john: more than 1,000 people showed up. >> we had people fly in from india, from singapore, from all over the world because
1:28 am
they were so frustrated and so fed up and said finally a chance for me to actually express my idea. a chance for me to actually build and do something about these issues that i see. john: what he says is something that both the left and right complain about. >> educational system has failed our children. >> this is the fight we have to win for our kids. john: for years politicians promise to fix education. >> going to cut out unnecessary forms, applications, red tape something that dream disappeared, ronald reagan promised. >> the national campaign to restore excellence in american education. john: when students still performed miserably, another president promised. >> no. child will be left behind. john: but billions of tax dollars accomplished nothing. >> there's a lot to be pissed on of about. john: at hack-athons, young people compete for days to try to create something unique. >> and boom. imagine that, like, feeling that -- john: people work all weekend, stay up -- >> oh, yeah. 36 straight hours was our
1:29 am
hack-athon. you're eating drunk food, red bull, up all night and this crazy competition happening is what pushes innovation and envelope. john: why can they create better stuff in this big room with a bunch of other hackers that they can't do in their basement? >> when you get all of these programmers together in one place, the energy is there. john: for three days, everyone competed to invent a better high-tech process. some built iphone apps. this group worked on a robot. >> kids can learn how to program and use real life robotics and hardware. john: the hacking education winner was this app that's kind of like uber for tutors. it lets you compare tutors and hire one anywhere. >> we have a list of all the tutors nearby. john: winning won the meetings with potential investors. >> i was, like, woe is this real? i still can't believe it. >> think about it like sports for, in other words,. john: in other words, who don't just talk about new ways to educate. >> actually built it and
1:30 am
implemented it and they said that's great. let's take this code and push it live. john: petroleum people here wanted to improve college education but they learned that the university are any new ideas. >> i would go and pitch them to my professors. of their, like, those are great ideas but good luck with red tape. >> technologies are evolving so rapidly and schools can't keep up. >> you're never going to get there with all of this bureaucracy. john: so it's the people my age in charge holding you back. >> it's the mentality this is how we've always done it, so this is how we're going to continue to do it. they don't have this startup mentality. >> higher education is powerful. john: but today most graduates don't get jobs that require a degree. >> the best i do is working for $10 an hour at a grocery store. john: david morris got top grades at a top college and then got a master's degree.
1:31 am
>> i'm still living with my parents. john: after paying $100,000 to signal others "i have a college degree." >> why this expensive signaling mechanism? . john: zack dropped out of college to create something better. he started a company that finds students actual work at businesses. >> these employers are practically handing out good jobs, and they can't food good, hard working talented young people with college degrees to fill them. john: got mitch a job with a media company. ten months later, making more than $100,000 a year. >> i'm creating very real value for this company. >> a lot of our business partners do offer them full-time positions. john: even if they don't, the students don't drowned in student loans. >> net tuition zero. john: just one instructor, a company called labster offers a alternative to learning science. you learn by playing games. >> where students gather evidence and analyze it in the lab in order to solve the cas c. john: and every day on the web
1:32 am
there's another new alternative. >> do people still need a college degree? >> if you want to be a doctor, a lawyer, a professor, something, you know, field that are highly credentialed, yeah, you're going to need one. if you want to run a business, if you want to take control of your own life, build your own career, you really don't need one. john: that's a good thing. it gives us more choices. next the best way to predict who will be the next president. will it be him? her? him? later in the show, the robot car. look, mom. no hands.
1:33 am
1:34 am
1:35 am
1:36 am
. john: who believe it our next president? the media turned polls. >> donald trump is in first place at 39% -- john: how likely is it that polls will predict who will win? and the next republican
1:37 am
primary rick perry, but they didn't win. >> i accept your nomination for president. john: maybe as polls, we should pay more attention to pundits. they get wrong too. >> turns out pundits are not terribly accurate. john: economist rob an alternative the betting odd. there's something about putting money on the line that cuts through.r atta party, peope often make bold statements. >> you're talking, you know, somebody challenges you and says you want to bet on that? all of us as soon as somebody says you want to bet on that and you say do i really believe that? >> if you tell put your money where your mouth is and where lots of people put their money on the line are sites like prediction markets. this one in the united states, this one in europe. the resulting odds are more accurate than anything else. unfortunately, they post these
1:38 am
odds in confusing gambling formulas. so my producer and i created this site, election betting odds.com that states the odds more clearly. and who's winning? >> we're going to win. we're going to win. john: donald trump almost certainly will win the republican nomination. there's more than a 90% chance. hillary has effectively won the democratic nomination. but trump trails hillary badly in the betting for the presidency. she's nearly four times more likely to become president than trump. now, if you think these odds are wrong, you can make money by being right. this was a debate watching party hosted by political prediction site predictive. people bet on candidates during the debate. >> he was up. john: it's like a stock market for election and like stocks can be candidates' chances change constantly. >> we get traders who are tweeting back and forth about
1:39 am
who's making the most money. >> i've put in rubio making my bets before i got here. >> i'm a political junky, so i love it. >> this is my fantasy basebal b. john: you can play if, say, you think trump is more likely than this to become president, place a bet. if he wins, you make about five bucks for every dollar you bet. >> yeah. i'm actually doing pretty well. maybe tripled or quadrupled what i put in. >> it literally pays to be right. john: it turns out competitive prediction markets like this are much more accurate than polls. >> consistently, test after test, the markets forecasted elections more accurately than polls. john: in november, ben carson surged to first place in polls but the bettors knew better. the odds had him at just 9%. now he's below 1%. in 2012 when these candidates surged to fist place in polls, the prediction markets correctively said, no, romney will win. it also correctly predicted results in almost every state. in 2012, every state but one.
1:40 am
>> the market is consistently as accurate or more accurate than the other. you can take that to the bank. john: bets on the prediction market in trade even predicted when saddam hussein will be captured. >> saddam hussein was found at the bottom of a hole. john: accurately predicted american idol winners and oscar winners. part of what makes prediction markets work is the wisdom in crowd. some people betting here may be fools making bad bets but the crowd of people probably won't. you see that on the tv show who wants to be a millionaire. >> can i ask the audience? . john: contest he icontestants can ask the audience or an expert. the experts do well. they get it right 65% of the time. but the audience gets it right 91% of the time.
1:41 am
>> yes. $50,000. >> . john: political prediction markets have a long history. 100 years ago they were popular. >> they weren't really legal for the most part. but they were reported because the newspapers reported on them because they had to. these were bookies i guess. in fact, there was more money trading back and forth in the election market than the stock market around 1,900. so this was a big deal. john: and the prediction were pretty accurate. >> of course. john: they correctly predicted fdr's election and mckinley and many more but sadly our government often ban gambling. here's officials taken acts to casino equipment. >> turns out all of our familiar financial institutions were band as illegal gambling, stock markets were band, insurance was banned,. john: intrade was banned too. the world no longer benefits from it's prediction. recently, however, the government granted a few exceptions for sites like predict. >> how come these guy got a
1:42 am
"yes" and the rest of the guys got a "no"? you don't know. john: the bureaucrats keep changing their minds. 12 years ago they asked robin hanson to create a mark that would predict world events. >> heard that prediction markets were interesting, that they were doing powerful things. and they said show us. show us it works for stuff we do. we were going to predict events in the middle east. john: so immediately people started to bet on -- >> we never got that far. >> it is ridiculous, and it's grotesque. john: the idea of people butting on when there might be terrorism horrified politicians. >> i think this is unbelievably stupid. >> it needs to be stopped immediately. john: and it was. the very next die. >> the secretary of defense in front of congress declared the project dead. >> so the pentagon is deprived of the predictions that might save lives. >> people are wary on whether we bet on death. john: so politicians protect us from truth. >> politicians are at did he want at watching out for that
1:43 am
things might back and forth away. john: what might they keep away next? coming up the robot car. this will save lives. if government allows it.
1:44 am
1:45 am
1:46 am
1:47 am
john: look, mom, no hands. are you ready for the driverless car? i got to try one. this is exciting. and scary. scary because it's not natural to just sit here and let the car drive. this car's the tesla s. the closest thing to a totally driverless car that consumers can buy now. i had to leave my state to test it. new york's archaic laws forbid from taking both hands off the wheel. but once we were out of new york, the tesla rep had me turn on the autopilot. all right. so the car is driving itself. the truck is coming. i'm scared. it takes time to get comfortable with the car to make decisions. in this tunnel i was especially nervous. it's terrifying. i'm breathing heavily here. it turns out i was right to be scared. now, what happened there? the car drifted left, my left
1:48 am
wheel hit the side of the tunnel. >> when you pulled the wheel, you disengaged the autopilot. john: touching the break or wheel takes the car out of autopilot. but once i learned how the car works, i found not driving it pretty cool. though, weird. this is not natural, but it does work. it drives itself. and it's safer than me. safety is the big reason we should welcome these cars. 94% of people killed in car crashes are killed because of human error. the computer in this car would prevent many of those deaths. here the sensors see that i'm coming up on another car. i won't run into this car? it will slow me down? >> yeah. it already has. john: if i want to change lanes, just signal. it will change lanes without me? yes, it just does. and it stays in the lane. and then we sped up to 65 miles per hour and the road turned sharp. that was scary. i didn't think it was turn but
1:49 am
it does. this car is only partly driverless. it can't go on and off highway defendant, for example. but soon it will do everything. people are going to be reading the paper. >> actually not a good idea, john. i would appreciate it if you take it off. john: he stopped me because state laws say the driver must always be in control. what if i go to sleep? >> you would be breaking the law. you need to remain in control of the vehicle at all times. . john: but soon if regulators allow it, technology will let us relax in our cars. and that could change our lives. it will save lives and create more relaxing commutes. now i'm in stop-and-go traffic and the car will go without my -- yes, it will. also there will be fewer traffic jams because robots react quickly to danger. cars will be able to drive closer together. so more cars will fit on the same road. it will be great, says economists james miller.
1:50 am
i could imagine an ad saying computers crash, you're going to trust your life to a machine? >> people know that machines are better than people at a lot of tasks. john: still that idea of some machine trusting it with my life. >> well, i mean our brains are basically machines and -- but they're not machines that are hospital mized for going 65 miles an hour. john: the military is making all kinds of robots. they call this one the wildcat. these will soon deliver supplies or rescue soldiers. some robots will be used to kill. already robots have changed life at some japanese hotel. this dinosaur is a front desk clerk chosen to appeal to kids. they have all types. another robot stores your luggage for you. this one takes it to your room. and when you get there, there's no key. the door recognizes your face through facial recognition software. it saves money. this hotel's cheaper than
1:51 am
other hotels nearby. but it's cheaper because it employs fewer people. when robots do this work, fewer receptionists will get jobs here. military robots will replace soldiers. driverless cars will put taxi and truck drivers out of work. maybe i'll lose my job to this guy. >> i will take your job, john. i'm smarter than you. john: people are going to lose their jobs. they'll have nothing to do. >> well, you're right. some people will lose their jobs but other people will get jobs. john: whenever there's been innovation, experts predict employment will decline. but the experts can't imagine the new jobs. >> walmart will undoubtedly fire some truck drivers because their trucks drive themselves. but this is going to cause walmart to lower their prices john: those savings will bring new opportunity. don't believe it? well, remember the 200 years ago most americans worked on farms. 90% used to work on farms now less than 2%. you think all of those people
1:52 am
would be out of work. >> a lot of people lost their jobs for little but found new jobs and found jobs doing things more productive and that's how economy grows. john: we forgot how hard it was to grow food without tractors and other modern machines. farm work was long and dangerous. >> we look back at horses and buggies, we saw the car displacing the horses buggy whips but the blacksmiths of old probably had to figure out something else to do. they all found jobs, the economy evolved. it's an evolving ecosystem. . john: but some don't want it to evolve. these cab drivers demand the government protect their job. >> what do we want? . john: but what would the world look like if government did protect jobs? this parody video mocks the idea. >> my inventory. now what am i going to do with it? there are many industries
1:53 am
needing taxpayer support. progress is taking our jobs. john: today in america there are people who want to do what he wants to do. stop progress. will they win? or will our future be faster, better, cheaper? that's next.
1:54 am
1:55 am
1:56 am
. john: to close this show, let's celebrate that much abused group, the people who lead the tech revolution.
1:57 am
i'm talking about, in other words. >> i'm a nerd. i'm here tonight to stand to other, in other words,. john: in other words, make our world better. >> some people call you up a in other words, and we hear that you claim that label with pride. john: this was at a stanford graduation where bill and malinda gates spoke. >> well, so do we. john: nerdy numbies is what youtube star calls her baking show. john: why nerdy? >> i was called nerdy in high school, so i wanted to give empowerment to the world and celebrate all the things that were considered nerdy when i was growing up. math, science, video games. john: and people who like those -- >> they're not cool kids at the party. >> now they are. . >> there's a think, well, technology is the future. well, technology is now. people's grandmother's on facebook liking every one of our status updates. that means facebook, a
1:58 am
technology product is here today. john: and new technology changes quickly. do you have a particularly useful app in your phone? >> every two weeks it changes. john: my apps don't change every two weeks. >> well, you're not 13. these young people are previewing what we will use in a year. you and i aren't allowed to understand. we just have to look at it and say, you know, your music's too loud. technology and invasions will always prevail. it will change our society hopefully for the better. john: but not if government stops them. the ride sharing service uber offers better service but to succeed, it had to i don't even have come these protests and government rules. >> it was legally questionable but people did it anyway. life was better, faster, cheaper, and cooler with these apps. . john: but that success also shows the danger inherit in our current rules. uber thrived only because it drew popular in rich before the politicians and regulators noticed. by then, uber had millions of customers and billions of
1:59 am
dollars so they could bully the politicians back. >> tell mayor de blasio don't strand new york. john: uber defeated my antiprogress mayor by telling its customers no cars? blame the politician. >> de blasio is apparently backed on of with his fight with uber. john: it's good uber won but normal innovators, ones who some build big things and get government permission before they can build, they may be crushed by today's rules. crushed before they can make our lives better. >> we don't need all of these politicians. john: because with without too many rules and politicians -- >> the future is going to be full of surprises. full of awesome things that almost fall from the sky. we can't even imagine it toda t. john: look, mom, no hands. new ways to commute. to predict future events. to teach. >> a friendly mind reading robot tutor. john: discover new music.
2:00 am
the tech revolution will make life -- >> better, faster, cheaper, more abundant, more available than ever before. john: i can't wait. and that's our show. thanks for watching. goodnight from new york. >> i am here at freedom fest the world's biggest gathering of people and tonight's topic is the american dream still achievable? the founder of whole foods the head of the restaurant chain carl's, jr.. and the man who helped to build modern lowe's vegas and made a couple billion dollars to read it. our topic, what happened to the american dream? that is our show. tonig

47 Views

info Stream Only

Uploaded by TV Archive on