Good morning, everyone. You may have noticed a spate of new emails over the new year from websites you use informing you they are changing their privacy policies. I like this one. You have the right to ask that we not sell your personal information, company does not sell, in the traditional sense of the word, or rent personal information to third parties for money. We do, however, share your personal information to make this Service Available to you. I really feel there is some pretty big loopholes in that one. We dont sell your information for money. At any rate, the reason you are seeing a lot of these notifications is probably a New California law called the Consumer Privacy act. It was supposed to be the toughest in the country. The bottom line is it gives you the right to Tell Companies not to sell your private data for money or otherwise. Now, companies are still trying to figure out what it all means. Indeed, the attorney general of california is still trying to figure out what it all means. Javier bass air as office wont enforce the law until this summer and will be sending companies more guidance what to do this spring. We thought wed hurry the attorney general along. Frederick lee is the chief security Information Officer at gusto. He goes by flea. Only his parents and linkedin call him frederick. Erin griffith of the New York Times as well. Michael lightky of the associated press. Walk me through what happens in any company when a giant new law gets passed and thumped on your desk. I assume you call the lawyers. Its not always immediately apparent what you are supposed to do, right . Its not always immediately apparent what you are supposed to do. You are right. Most companies talk with their lee counsel. But oftentimes there is already some things that are Guiding Principles for your company. Actually adherent to those things. You hope you were doing some of the things. I will get to that in a second. Having not run a company, it is strange to think that companies, even after the law is passed, are not certain. As i said, the a. G. Is not he didnt write the law either, is not entirely certain what all of the ramifications of these things are going to be. Law is complex. I mean, we have seen that before. We dont always know how legal things are going to play out. But we do try to reflect and really plan inside of our company how do we deal with this new, you know, regulatory change, whatever sort. With the idea being that we want to kind of build that internal resilience to actually be able to update whatever policies we need to do or behavior we need to change to address that. It shouldnt be a scramble but its not necessarily, you know, completely clear to every single person. There is always going to be educations that we have to work through, et cetera. I feel like a lot of companies are in decent shape. However, there is a lot of nuance that as you mentioned, the California Legislature is still working through. Speaking of complex, the compliance cause, i was shocked to read that the report to the attorney general said this is going to cost a combined 55 billion for california businesses to comply with over time. That could be could that be a hidden tax on the consumer . A lot of consumers probably wonter ent wonter exercise the right. Is this going to be higher costs . This applies to banks, retailers, all kinds of services. I dont know every companys business model. It will vary. A lot of those costs are going into things that are improving the infrastructure of these companies and ideally its not passed on to the consumer because its making the companies better. By these companies actually improving their positions on privacy how they handle consumer data will make them more resilient for things in the future. If a company is based in california or subjected to ccpa, we know that there is going to be additional privacy regulation coming down from other, you know, other states or other countries, et cetera. This is actually going to help prepare them. I dont really view this as a tax as more just a cost of doing business and improving the overall infrastructure, particularly the infrastructure for our consumers. You believe businesses arent going to pass it on . I hope this is i dont know everybodys business model. What we saw with the european kind of version of this, maybe a little bit less onerous, it affected the Small Companies more. Companies like apple or google have the resources to kprie with this whereas startups that are venture backed and not yet profitable like your own, thats a bigger burden to comply with this. So its almost like anticompetitive even though its designed to like, you know, help consumers. I am curious what your thoughts on that are. I really, really like that question. Why i like that question, you mentioned startups or smaller businesses in particular with the privacy regulations. I would argue to say they might be in a better position. Really . Part of the reason why is because they dont have these massive marketing departments that are kind of addicted to selling consumer data or getting access to that. They can do a lot of the correct things now and they can have that built into their ecosystem. They are actually able to deal with privacy concerns thats more nimble than the larger corporations. I dont view it as a negative thing, in fact. Its good to actually be maybe a little bit transparent that ccpa was actually fairly thoughtful when it came to small businesses. There are some carve outs that ccpa is applicable, you know, once you are above a Certain Company size, above a certain amount of consumer data or generating a certain amount of revenue. Have you had anyone request the data yet . We have had a sprinkling so far. And we will see how it evolves. Do you have an infrastructure set up for that . We do have an infrastructure set up for it. The great thing about gusto is we dont sell your data. For money. Well, we dont sell it for money, exchange it, anything like that. We try to adhere to our consumers best interest. Our model at gusto is this idea we are a data custodian and not data owner. And i should point out to the viewers that the Privacy Policy reg was not yours. No. I find that funny that i assure you i am not going to sell it for money. Yes. That was curious. Once you delete someones data, i think you can start if they keep doing business with you, you can start collecting it over again its like a revolving door. Are you doing that . Thats my understanding, once someone asks they literally print paychecks. You would be an idiot to ask right. So that is a loophole, seems like a hoop lloophole for other businesses. Once you say get rid of my data. If i go back to that business, they can collect it all over again. It seems like a revolving door. That could be a possibility. Like i said, thats going to depend on the companys business the law also says, i mean, if you have a lets say you have a credit card transaction thats processing, they send you a thing. Right. You cant say delete my data. They say hold on, we are in a business lyft and uber. We great take pride in california in leading the way in so many things. With this law it has again. The federal government didnt do it. California stepped in, said okay. Is there a danger if kansas has a law and california has a law and new jersey has nothing that there is this balkanization of whats going on in the United States that will make your business hard center. For gusto specifically we are not worried about balkanization. There are various different, you know, company or states or different countries, et cetera, and having various you are already dealing with some of that. Yes. But even further we really have embraced this idea we always want to do the right thing. That means not waiting on legislation. Actually identifying our role is to be a data custodian and add here to the consumers privacy intent and to actually make sure the consumer is along for that ride. We are not actually surprised. If Companies Start going that direction where they actually have changed their behavior so they are always dealing with the best intent of the consumer, you can envision a company even, you know, telling their employees internally, reiterating the golden rule. When you think about how we are delivering this data, how would you want your own data leveraged . Then you are going to naturally make most of the right dagss and additional legislation isnt going to wothbother you. Thats a great way to summarize that up. Flee lee thank you for being with us. Be tell all kinds of stories about hightech millionaires. But the wider truth is a lot of people in Silicon Valley are extremely worried about money. People with sixfigure jobs trying to buy sevenfigure homes. We will deal with that when press here returns. Welcome back to press here. We make big money in the bay area and we spend big money, too. The cost of living is one of the highest in the world. Case in point. There is lowincome Housing Available in Silicon Valley for families making less than 87,000 a year. That is 30,000 more than the average american makes. Americas middle class is our lowincome. We are both rich and poor, making six figures, many ever us, but running out of money at the end of the month. For the talk about ipo millionaires, far more hightech workers, highly paid, for which money is a big worry. Martin works to help Companies Help their employees manage money, founder and ceo of bright plan. Thanks for being with us this morning. You know, i think its something we all deal with. Our very Close Friends who dont live here, maybe find out how much our house is worth or and think, oh, well, you are living it large, and the truth is you can have your own Television Show and if the mortgage and the california earthquake insurance bill come on the same day you are looking at your bank account thinking, oh no. Its hard. It really is. Yeah. Its a real problem. You know, personal finances is really everyones issue. To me its as important as access to Quality Health care and education. And yet we often discount the problem and people are left to their own devices to figure it out. And google thats not fair to use fwooug as an example. A large Search Company may not realize that many of their employees, who they think are highly paid senior engineers, are busy looking at their phones with this gut wrench worry about tuition or whatever it happens to be. This is a real issue for employees in Silicon Valley. Thats right. If you look proportionally, you know, the income, the Median Income in the bay area is about 1. 75 times the National Average. If you then look at just cost of living, lets take housing and rent as two of the biggest expense items, housing is 3. 8 times the National Average here. Rent is about 2. 6 times. So its an acute problem here. You know, and employers really n need to step up and help the employees. Should they provide them with financial nourishment, some kind of problems like that . You say as important as health care. Can they be doing more and maybe less free food and like feeding them information about finance . Absolutely. In fact, you know, i think this is not a nice to have benefit, it is a must have benefit because of what we just said. Also, if you look at just how employees are struggling with this, you know, bwc did a study over several years that found that 59 of employees find personal finances to be the number one issue when it comes to stress in their personal lives. Right. Have you noticed that this is contributed to the trend that we have kind of been hearing about of employees leaving, tech workers wanting to leave the bay area because the cost of living is too high . Yeah. If they dont have access to great fid us great fiduciary advice, but how to make use of the benefits Companies Often provide, they will end up leaving for a 10,000 raise but leave 200,000 in Stock Options behind at the company. Part of this is because of this is a boom and bust town. They are taking a lot of risks by working for Stock Options that they know could go to zero versus for cash in their pocket. Thats right. It is very much the culture here. But, you know, people often will also get poor advice that is not aligned with their best interest. If someone is trying to sell you a product, beware. You are probably not going to get the best advice and your best interest. People find it really hard, when you look at the spectrum of evers is services you need, to figure out how to connect all the dots and what Financial Wellness from an employer can really do is help them get a comprehensive view of their, you know, entire Financial Life to help figure this out. I think this goes back though, as you are trying to convince companies to do these sorts of things, i, as a ceo, would say look what i pay my employees. You know, the number is enormous. And this goes back to this, you know, again poor little rich boy sort of thing where its feel sorry for me, i make six figures as an engineer, as a senior engineer, whatever, and im barely making it. Most people, family members, Close Friends, people who dont live in the bay area may think, oh, poor guy, but no, its really true. This is a stress and the ceos need to know their workers are having stress. Thats right. 35 of employees, the study had found, basically the report that this impact their ability to do their job. When you stop and think, on average 30 of the revenue of a company is invested in compensation and benefits for their employees, and yet employers, unlike other investments they make, is not really involved in ensuring that that investment has a great return. So helping the employee, you know, achieve their life goals is helping that return on the investment for the company as well. Speaking of investment advice, and you are, you know, the best to get it, there was a guy who tweeted the stock market is at the alltime high, how is your 409 k doing. He says, mr. Trump says, are they up 70, 80, 90 . What, only 50 up . What are you doing wrong. What is a good return on a 401 k . It all depends. 90 . It certainly isnt 90 . It also depends on your personal situations, how far you are from retirement because its so important that you correctly invest it based on all those factors. Personalized Investment Strategy is needed for every employee. Employees find it really, really hard to figure out how to invest in their 401 k . Which funds to pick, for example. If you go all stocks, you may get great returns. But if the market falls and you are close to retirement, you may not have enough money to retire. All right. Putting up with that, bright plan. Thank you very much for being here. Up next, a founder goes from jail cell to cooler when press here continues. Welcome back to press here. There is a company in livermore thats doing very interesting things with coolers. Like the thing you put beer and soda in for a picnic its a multimillion dollar business. But its the employees that attracted our attention. About a quarter of employees have spent time behind bars. The companys ceo and founder darrell jobe knows what that is like. He, too, has done time in jail. Needless to say, he has turned his life around. Thank you for being us with. I want to talk about your hiring practices. I dont think any conversation can start without why were you in jail . Receiving stolen property. I got caught with firearms when i was a juvenile. I am sure you have been asked before, but how did you turn yourself from that into ceo sitting on a Television Set . You know when you look at a fiveyear sentence you have to take some reflection on your live. I was in 23hour lockdown fire. You have to look at yourself as a father and where you are going in your life and say is this going to be my future or do i stop and change. I made promises to myself and my children and god and i came out and hit the road running and didnt look back. What was the hardest thing about starting out . Confidence. Hope. Just knowing where you are going to go. You know you want to change but you dont know how to do it. So you are trying to rewrite ig wrongs, and your wrongs are right. So you have to reprogram your brain. Its a difficult process. Glad i made it out. I imagine it included knocking on a lot of doors that shut in your face . You have to have the drive and determination to push back. Society will tell you are not supposed to be here and you will keep knocking on the door and saying i am not going anywhere. What was your breakthrough . Is there a particular thing . Yeah, i had an opportunity to run across a friend. She was her father was in the Packaging Industry. He did very well. I said what does he do . He sells boxes. I am like, bogs . This is a 6 million home. How is he doing this . I called him every day for six months. Finally one day he returned my phone call. He got me an interview with one of his competitors and the rest is history. I got the opportunity and didnt look back, worked hard. In my past, i dont have an education, dropped out of school in the eighth grade. You have to work harder. You have to work hard fast if you are going to be able to compete. In tech, you know, dropping out of school is a good thing. Right. So you have now passed that on. You made the conscious decision to employ people who have been in prison before. What do you i mean, obviously, they are happy for the opportunity. Absolutely. Its got to be more than just here, heres this job. You have to give them some guidance. What are you telling them heres how you are going to get your life back on track . Youve got to give them hope and the opportunity to actually know that there is a path forward. Some of these individuals are spending time in incarcerations and saying when i get out i am going to hit the road hard and start looking for a job and most of the time there is no jobs and outlets. To have that vehicle and support system and say, hey, we dont care about your past. We all get bumps and bruises. Lets move forward. This is what whyour future coul look like. It builds them up. Darrell did it, i can do it. So you are not selling them a hope and a dream. When you got the company going, like i had a Second Chance and you consciously said i want to be more open to giving more people Second Chances . Absolutely. Someone in the Packaging Industry as you are working for companies and so on, if i ever owned my company what would i do with my company. So now you become that owner. I never south out being an owner. I thought it was a dream. When it came and it happened, i told myself, hey, we are going to do this and we are going to do that. It wasnt something i wanted it televise because i thought it would get shot down by others, companies wouldnt do business with me. I felt like when you impact someone, you are impacting their children. You are impacting society. You are impacting crime. Its a residual process and its something that has to be done throughout. Is there a limit to who you would accept . I mean, obviously you are going to accept people who truly seem to be getting their life on the line. But as a fellow employee, i dont necessarily want to work next to somebody who has a history of workplace violence. I understand that. Thats something i had to ask myself those same questions. What are you going to do . You know, i had to really dig deep because there is pedophilia. Thats a good example. There is a lot. Where is the you know, where is the limit . Car theft, okay, fine. Exactly. I said this is a nondiscriminatory hiring company. I am not going to judge. Its not my place to judge. My job is to give the opportunity. Myself i was molested as a child. My sisters were molested. My mother was molested. Pedophilia and certain things i had issues with. But if i became the judge that i am not doing what vericool set out to do not just for formally incarcerated. Gender, race, whatever it is, we dont care. Everybody has a right to provide an income to fair families. We are in an economy which not only is it laudable to employ excons, but sometimes necessary. I mean, there are just not that many employees out there. Yes. But there could be a situation where they are the first to go. When its time for layoffs, you know, the guy who spent time in prison may be my first guy im going to cut. You know what . I think thats what we perceive. In actuality, as a business owner, swuomeone who has to produce product, get inventory out and sell product, i am keeping the best employees. Some of the best employees are the ones that are formerly incarcerated. Those that dont have an opportunity work the hardest. Some of my greatest employees were formerly incarcerated. They dont want to go back. There is no other way. So now that you are publicly talking about this, what you do with your companies have been more of a positive or is there a stigma . What is the reaction among customers . Its definitely a positive. I was one of those individuals that wanted to keep everything under wraps and not let not come out to the public, but i have had customers saying, darrell, we are competing, you are competing with this group but you are going to win because you are doing this. I am like thats amazing. We received tons of awards from the communities. I asked the communities to step up. What are you doing to formerly incarcerated . What are you doing for the community . Lets stop all the talking and take action. Are there other businesses you think would follow in your footsteps, could take . There are risks involved. I am sure that you do things a little bit differently. Yes. You know what . I would just say Everybody Needs to push forward and Everybody Needs to be a part of it. Everybody needs to step up. Thats all i can really say. Darrell jobe with vericool. Inspiring stuff. Thank you so much. Press here will be back in a minute. I would like to remind you we have a podcast called sand hill road. We take a look at Venture Capital every week. Give it a try. If you like it, even if you dont, give it a rating on itunes. Apple tells me that boosts it up in the list there. Thats our show. Thanks to our guests and thank you for making us a part of your sunday morning. Damian trujillo hello, and welcome to comunidad del valle. Im damian trujillo, and today, mia perez and the womens Empowerment Movement on your comunidad del valle. Damian we begin with the us census, hagase contar, make yourself count, with me on comunidad del valle. Were going to talk about that for the next three months or so. Victor Duarte Vazquez is with somos mayfair, and Jazmin Hernandez carbajal is with veggielution, kind of a collaborative here of both groups, correct . Jazmin carbajal correct. Damian all right, welcome to the show. Victor vazquez oh, thank you for inviting us. Damian so, we have some, you know, wonderful video, of course, of census takers and whatnot. Talk about the Biggest Challenges that youre facing, especially in the mayfair community. Victor yeah, right now, we have 30 response rate. Its very low compared to other communities of 70 . And we feel like it has to do with a lot with like