School should not be something that youre forced to go but somewhere that you want to go. Change is mostly good. That is our show. Now its 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 highend jobs. That is if they find highend 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. Its 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. Thats 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 mustve 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 hes 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 hes just got enough for what he needs. And it may be finding the risk. If. John today they dont 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. Its 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 doesnt 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 dont think its 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 its 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 dont 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 its 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 lets 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 its 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 its creepy and that is their right, but i dont think that it is and i dont think that peoples personal perceptions of it the opinion that its 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 i built my business with passion. But i keep it growing by making every dollar count. Thats why i have the spark cash card from capital one. I earn unlimited 2 cash back on everything i buy for my studio. And that unlimited 2 cash back from spark means thousands of dollars each year going back into my business. Thats huge for my bottom line. Whats in your wallet . We live in a pick and choose world. Choose choose choose. But at bedtime . Why settle for this . Enter sleep number dont miss the final days of the lowest prices of the season. Sleepiq technology tells you how well you slept and what adjustments you can make. You like the bed soft. Hes more hardcore. So your sleep goes from good to great to wow only at a sleep number store. Dont miss the final days of the lowest prices of the season. Save 300 to 700 on selected mattress sets. Ends sunday know better sleep with sleep number. John do you want to sell your home . Real estate brokers offer to help you but they charge a 6 commission. 6 . The average home sells for about 200,000 and that is a 12,000dollar feet. 60,000 on a Million Dollar home. Thats 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 its 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 thats 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 thats 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 havent 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 cant 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 dont allow it. We dont see how on earth that can be in a consumers 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 if you suffer from a dry mouth then youll know how uncomfortable it can be. But did you know that the lack of saliva can also lead to tooth decay and bad breath . Well, there is biotene specially formulated with moisturizers and lubricants. Biotene can provide soothing relief and it helps keep your mouth healthy too. Biotene, for people who suffer from a dry mouth. John when i buy something i often use this stuff. Its 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 americas 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 its great, but it might not be me and you who decide that the sovereign marketplace. The kids you are talking about could decide that its 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 . Arent 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 its better because its 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 couldve 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 dont 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. Thats right, like the predatory government that they live under for example. John in zimbabwe they had milliondollar bills because theres 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, lets 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 my School Reunions coming fast. Could be bad. Could be a blast. Cant find a single thing to wear. Will they be looking at my hair . Wont be the same without you bro. When you go this summer, go to the new choicehotels. Com and when you stay twice get a free 50 gift card. Book now at choicehotels. Com [ male announcer ] we know theyre out there. You cant always see them. But its our job to find them. The answers. The solutions. The innovations. All waiting to help us build Something Better. Something more amazing. A safer, cleaner brighter future. At boeing, thats what building Something Better is all about. 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 were doing work with the teacher to get oneonone 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 theyre 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 worldclass 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 theres to selfdestruct they dont 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. Do you want to know how hard it can be to breathe with copd . It can feel like this. Copd includes chronic bronchitis and emphysema. Spiriva is a oncedaily inhaled copd maintenance treatment that helps open my airways for a full 24 hours. Spiriva helps me breathe easier. Spiriva respimat does not replace rescue inhalers for sudden symptoms. Tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlarged prostate. These may worsen with Spiriva Respimat. Discuss all medicines you take even eye drops. If your breathing suddenly worsens, your throat or tongue swells you get hives, vision changes or eye pain or problems passing urine stop taking Spiriva Respimat and call your doctor right away. Side effects include sore throat cough, dry mouth and sinus infection. Nothing can reverse copd. Spiriva helps me breathe better. To learn about Spiriva Respimat slowmoving mist ask your doctor or visit spirivarespimat. Com john when i grow up here is our play music. I am not that old standard 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 didnt 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 yearold girl listening tunic jonas if you put a thumbsup 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 i built my business with passion. But i keep it growing by making every dollar count. Thats why i have the spark cash card from capital one. I earn unlimited 2 cash back on everything i buy for my studio. And that unlimited 2 cash back from spark means thousands of dollars each year going back into my business. Thats huge for my bottom line. Whats in your wallet . Can a business have a mind . A subconscious. A knack for predicting the future. Reflexes faster than the speed of thought. Can a business have a spirit . Can a business have a soul . Can a business be. Alive . New york state is reinventing how we do business by leading the way on tax cuts. We cut the rates on personal income taxes. We enacted the lowest Corporate Tax rate since 1968. We eliminated the income tax on manufacturers altogether. With startupny, qualified businesses that start, expand or relocate to new york state pay no taxes for 10 years. All to grow our economy and create jobs. See how new york can give your business the opportunity to grow at ny. Gov Business People with type 2 diabetes come from all walks of life. If you have high blood sugar ask your doctor about farxiga. Its a different kind of medicine that works by removing some sugar from your body. Along with diet and exercise farxiga helps lower blood sugar in adults with type 2 diabetes. With one pill a day, farxiga helps lower your a1c. And, although its not a weightloss or bloodpressure drug farxiga may help you lose weight and may even lower Blood Pressure when used with certain diabetes medicines. Do not take if allergic to farxiga or its ingredients. Symptoms of a serious allergic reaction include rash, swelling, or difficulty breathing or swallowing. If you have any of these symptoms stop taking farxiga and seek medical help right away. Do not take farxiga if you have severe kidney problems, are on dialysis, or have bladder cancer. Tell your doctor right away if you have blood or red color in your urine or pain while you urinate. Farxiga can cause serious side effects including dehydration, genital yeast infections in women and men, low blood sugar, kidney problems, and increased bad cholesterol. Common side effects include urinary Tract Infections changes in urination and runny nose. Do the walk of life yeah, you do the walk of life need to lower your blood sugar . Ask your doctor about farxiga. And visit our website to learn how you may be able to get every month free. 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 dont 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 . Im 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 todays 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 industrys. , 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 dont 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 dont 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 twotime 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. Listen to you. Thanks for being with us. Good night from new york. Show me the money. Hedge Fund Managers making all of americas kindergarten teachers combined . Some have much more money than others. And this ted dollar bill hamiltons face is not on it and will be replaced by a woman. You know, who she is . No. No. Bad government is printing money like crazy then doing what . Squandering broke