Transcripts For WJLA On The Money 20160724

The viral game gets as many as 21 million daily users in the u. S. According to survey monkey and what is all of this craze about . Well that is our cover story. The pokemon craze of the 90s and early 2000s is back. But playing with cards is so yesterday. Now you could spot picachoo and other characters in real life as you explore the world around you. It is really fun. Im getting a lot of exercise which i never got before. And the game is more popular than twitter and maybe and even the dating app tinder. Here is how it works. You download the free app on your iphone or android device. First you create an avatar you could use to capture pokemon. The game will give hints when they are near and you launch poke balls on your smartphone to trh them. Once caught you could feed them and get to new levels anden gamg in battle with engage in battle with otherla it uses google apps to add an overlay to every day landmarks. Game makes money by letting you buy extra supplies such as balls to help you capture more characters with real cash. Unfortunately it has had unintended consequences. Some distracted players have been injured rushing into traffic in search of a pokemon and Armed Robbers have used the game to lure victims into secluded areas. But the good news the game encourages users to get out and explore new places. It seems almost everywhere you go people are playing pokemon go but is the new mobile game a passing fad or part of a bigger trend and what does this Technology Mean for the future of gaming and other industries . Joining us now is edmund lee, at re Code Technology Business News website. Thank you for being here. Sure. Ive seen people playing this in kansas city, in pittsburgh, here in new york city. Everywhere. Why is it so addictive. The intellectual property for one thing. Pokemon is a wellknown franchise and been around for decades and decades and so if you notice people playing it are 20plus years older and they are not teens or tweens or young kids. So there is a nonprofit algae factor so there was interest. Second part, it is easy to play. It is intuitive. You dont need to sort of figure out too many of the game play dynamics. You are jufd downloaded and you play you just downloaded and you play with it for a minute or two and you figure it out. And i dont think anyone predicted it would be quite the craze it has become. So it is a craze and capturing millennials attention and young adult communities, does that mean it is here to stay or just a passing fad . So it will definitely retain a big portion of core gamers. People who are interested in games and playing games on their phones, they are going to stick will be a longstanding franchise. Whether or not it will maintain people who first downloaded it, probably not. It still is kind of after a few days or a week, i think people get tired of it. I think it is a novelty and it is interesting and they figure it out and they are gone. So it wont be sort of a massmass thing, but c big enough to show this augmented reality isnt a passing fad and it will be here for a while and well find new ways to express it in technology. So im not entirely clear on w to play. I have a good idea since i havent played it yet. Who determines w the characters are and how do i win. They are based on the pokemon franchise. They are are these Little Pocket monsters, that is where the term comes from. And you have the game up and you are Walking Around wherever you live, it will buzz you and say there is a monster around here l show up on your phone. And it is determined by the. The game figures it out and they base it on landmarks where you live. So it tries to fold in the realworld in that way. And so i play and there were landmarks in my neighborhood i didnt know about and that part was interesting to me, sort of as a grown adult, right. And i think that has drawn pi interest from a lot of people as well. It has folded in a smart way everyday things with sort of typical Game Dynamics and that is a big part of the appeal. How is the Company Making money and there are several Companies Involved here. So it is interesting. So the owner of the game is the Pokemon Company which is just a company set up to sort of handle the intellectual property of pokemon. There is a startup out of california that developed the game and they each own a portion. The way the economics of it are as a player you could buy virtual goods in the game to hepa long and that is where the moneyto help you along. The game is being played on iphone or android phones, each funds, they are taking cut. And so apple and google and the game developer will benefit and that is the economics of games today. What about the businesses around some of the landmarks, are they going to profit from this as well. There is an interesting idea that local businesses like your local pizza parlor for example could sort of buy into the game in terms of setting up your shop as a stop, as a place to find pokemon or a or create a gym where you could develop more abilities within the game. And you know, you get more foot traffic and more dollars and that is the idea. I think in actuality, i think people are playing the game who interested, dont care about the business, they just want to go and get level up and so to speak and move on from there it might help a little bit but i dont know it is a massive thing for local businesses. So this is interesting millions of people to augmented reality technology. Right. Is this a technology that is used in other industries as well . What is it telling us about this effects of this it is a aspect to consider because there is a lot of investment both from facebook and google, apple, even amazon, theyve invested tons of money in the general technology of Virtual Reality. And augmented reality is a flavor of that. There is too much investment in the space for it to be a fad and just a game. What these companies are banking on is that Virtual Reality or augmented reality will be the next sort of way that people access information. We went from Desktop Computers to smartphones and now everyone is looking for what is the next way people will act with information. It could be augmented reality or Virtual Reality. Ar intelligence is another way people think it might happen in terms of voice commands with your phone or some kind of home device. That is why there is a keen interest and i think you will see more to come for sure. I better download this app. You better download it and play. Thank you, ed. Good to have you here. Sure. Now here is a look at what is making news as we head into a new week on t m housing market. Am homes in june for the fourth straight month. And the monthly rate reached the high left in more than nine years. Existing home sales were up 1. 1 with an annual rate of 5. 57 million homes sold, the best performance since february of 2007. The dow caught its breath and broke a nineday winning streak on thursday after hitting new alltime highs earlier in the week. The s p 500 and the nasdaq following suit as they rebound on friday. Roger ails is out. He changed television and invented Fox News Channel resigned as chairman and ceo this week after accusations of sexual harassment. Murdock will assume the chairman and ceo of Fox News Channel and fox business network. Up next, w on the for generations, pittsburgh was the steel city. Now something very different is taking its place and how it is forging a new path. And later, if summer, hot tips to save cool cash. And as we go to break, a look at how the stock market ended the week. Go to listing all cars. Com now. Think of pittsburgh and you may think of a tired industrial city. A former steel giant nursing the wounds of a product that could now be manufactured and bought for less overseas. But you would be wrong. There is a renaissance in the iron city. My home town. And it has nothing to do with smelters and smoke. Kate rogers joins us now with more. Kate. That is right. Drawing on the citys roots of innovation andcreation, start ups and Small Businesses are doing amazing things. I found a pittsburgh that town and it is not just taking baby steps. Im charging with every step that i take right now. Yes. While devices from tablets to cell phones improve constantly, the same cant be set for the battery life. It is something 25yearold Hannah Alexander and her startup sole power are out to change. We make Energy Harvesting insoles for charging portable electronics while you walk. It has raised around half a Million Dollars so far and it being tested by the u. S. Army. But alexander isnt alone in her desire for change. Other startups vying to solve of the worlds big problems are doing so not from Silicon Valley or alley, but pittsburgh. Once a booming steel town has turned around post industrial collapse but never lost the spirit of innovation. Pittsburgh is home to offices for google and apple and most rece uber but in the past decade the startups have been bolstered by Tech Companies has taken hollywood. The iron city is one of the most and work in america. That is part of the reason why the Coffin Foundation has ranked this a top ten metro for established main street Business Activity with more than 1100 Small Businesses for every 100,000 residents in the area. Innovation works, a nonprofit with two nationally ranked accelerate proper programs have invested 65 million since 1999 in 300 local kpz. Theyve gone on to raise more than a billion dollars. In the past two years, pittsburgh Tech Companies have raised 500 million in vc funding. We track entrepreneurs that come to us for help and that number has gone up 400 or fivefold increase in the just the last roughly eight years. So a lot of momentum. One of the startups was launched by native Ian Rosenberger who started his company thread in 2010. They take recycled plastics from haiti and hondureas and turn them into sustainable fabric. Th and has a deal with timberland. We could have started a business anywhere in the world and we chose pittsburgh. And we care about who we are as a city. We care about our uncles and our dads and grandfathers lost their jobs in the mills in the 70s and 0i 80s, but in the ashes of that you see the ecosystem of buildings starting something that mean something. They have to stay in pittsburgh and not move to Silicon Valley is what amazed me. What is interesting is the type of startups being created and the amount of attention that the Education Community is paying to that with Carnegie Mellon university and the university of pittsburgh involved in some of the startups what are some of the industrials that are most compelling in the city. So, i think what i found to be most compelling is the spirit of innovation that you see throughout the startups. One more not in this package makes robotic arms being used by the u. S. Army and military to basically disable bombs. So Innovation Works and accelera they ar focusing on robotic and technology, we see it across the country but it is cool to see it in a place like pittsburgh. And it was on the list because of the cost of doing business in pittsburgh. Is that more Cost Effective than other major cities. Absolutely. It is one of places to live in america. So if you could have access to resources and Venture Capital funding is flowing there. Why not give it a try. Great story to tell. Im glad someone who is not from pittsburgh who is also telling the story. Thanks, kate. Thank you. Up next, on the money. Summertime could be the right time to ask for the raise. And later, mash. Com for your dog, sort of. How this app if you love crab and who doesnt dog, sort of. How this app then seize the day already. Crabfest is back at red lobster if you love crab, and who doesnt, then seize the day. Crab day is back. With the so dive into what ever floats your crab loving boat. Youve gotta get it. To really get it. But it wont last forever, so hurry in. Youve wished upon it all year, and now its finally here. The mercedesbenz summer event is back, with incredible offers on the mercedesbenz youve always longed for. But hurry, these shooting stars fly by fast. Lease the gle350 for 579 a month at your local mercedesbenz dealer. Mercedesbenz. The best or nothing. Fios is not cable. Were wired differently. So we wired the wagners house with 100 meg internet. Which means that in the time it takes mr. Wagner to pour a 20 oz. Cup of coffee, tommy can download 30 songs, and jan can upload 120 photos. And right now you can get 100 meg internet with equal upload and dowloads speeds, tv and phone for just 69. 99 per month online. Cable cant offer internet speeds this fast at a price this good. Only fios can. Summertime is a good time to look at where your finances are for the rest of the year. And you could make some changes that will impact your yearend numbers. Financial journalist Natali Morris is here with smartd moves to save you money. Thanks for joining us. Summer is in the throws of it could be so expensive with camps and how do you get a handle on your spending. I notice in the summer i spend money on random things that i hadnt anticipated were half through the year to lo money and see where your actually spending money, like, i didnt id to buy a slip and slide or five rash guards for my kid, especially in the sun products, where you spend money with those kind of things you didnt necessarily bargain far. And the recurring charges where im not using the service. Beer or cheese of the month or whatever. I found a service that i like this year called true bill and they go through your Bank Accounts and see where are your recurring charges coming from and then they send you notices and say do you still want to subscribe to this. For instance, i found one, i didnt realize that i had subscribed to Kindle Unlimited and once the free trial came up and it popped up and said do you want that and i realized i wasnt using it and they will unsubscribe for you. So it takes the pain out of it and monitors it so you are not nickelled and dimed to death. And the biggest expense, housing. How housing expenses. Now is a great time to rethink our Interest Rates if we are homeowners. So look at your budget and see what you are paying in housing and then go to some of the mortgage calculate yos and see what the rates are for a refinanc keep in mind when you refinance your loan, you are buying a brandnew financial product. So see how much that is going to cost you in closing costs. And then divide that number with how much you save per month on your loan. So say it is a 3,000 mortgage, brandnew mortgage, but you are saving 300 a month, you divide that by how many months it takes. If you are in the home for that long, do it. If you are not, you might want to see if you could get a cheaper product. And right now the banks really want you to do this. So there are some incentive there. Definitely. Biggest investment that youre going to make is in your career. Are there steps we should take now even though we want to leave early and go on vacation as much as we can in the summer and when you watch other people leave early, it might be a good time to step into the bosss office and say im still here and lets talk about what im doing. So in the summer doldrum months might be a good time to estimates that women. Leave billions of dollars on the table in nonneglected salary and men do this too so it never hurts to ask. If your boss really hates you, which is unlikely, you might have the talk. Great advice. Thank you. Up next on the money, the news from the week ahead. An to fulltime pet care. Why one man gave up his at Goldman Sachs to watch. Its here, but its going by fast. The opportunity of the year is back get to your dealer today for incredible onceaseason offers, and start firing up those grilles. Lease the c300 for 379 a month at your local mercedesbenz dealer. Mercedesbenz. The best or nothing. You stay up. You listen. You laugh. You worry. You do whatever it takes to take care of your family. And when its time to plan for your familys future, were here for you. Over 10 years weve helped families just like yours with wills and living trusts. So when youre ready, start with us. Doing the right thing has never been easier. Legalzoom. Legal help is here. Here are the stories coming up that may impact your money this week. Earnings from nearly 200 s p 500 and 12 dow companies, including 3m, caterpillar and mcdonalds. On monday the Democratic National Convention Kicks off in philadelphia. On june, new home sales. On wednesday we see how busy factors were with the good durable goods report and the american marketing meeting will end the two day meeting. Well see what happens to the Interest Rates. On friday the Second Quarter of the gdp comes out and put the forks down and get the hands ready, friday is National Chicken wi day. If you are heading out of town this summer, most likely fido wont tag along and that means leaving him behind in a kennel. And now there are new ways for dog owners to connect with reliable dog sitters. Joining us now is dog and pet sitter mike lamb and his dog toby. And so thank you so much for being here. Thank you for having us. This is a great idea. How did you come up with it. My wife and i wen out of town for ten days and we left them back in a kennel and we had a 1,400 bill and my dog rocky traumatized under my desk for days. How does it work. We have 30,000 insured pet sitters across the country that watch dogs in their own home. We do the Quality Control and the dogs and because the pet sitters set their own rates it is 40 cheaper than the kennel. How are they insured and vetted. Everything is through us. People apply to be a setter. We receive about 15 of the applicants and everything is true the system. Training and insurance and everything goes through the system. It is a fully trusted we have 24 7 support. Everything is about peace of mind. Because this is a family member. Yeah. And so you have had many family members added to your family with you and toby. That is correct. Tell me about how you became a pet sitter and you were working at Goldman Sachs so you are doing this now full time. That is a huge pay cut, right . Not really. I left Goldman Sachs because i was tired of that office life. And then i was thinking maybe to jump into another firm but in the interim i signed up for dog vacay for fun and after a while i realized that it could be just as lucrative and i ended up pretty much making the same amount of money as i was before. Why do you think it is such a almost . As well to be a part of this business . Well i absolutely love animals. This is literally a dream come true. And i mean, to be able to do this and work from home, instead of an an office and i get to spend time with my son at home, it is just priceless. Yeah. Who is most interested, erin, in becoming part of dog vacay and you were saying that retirees. We look across our pet sitters, retirees are the Fastest Growing segment. They cant commit to getting a new dog beca a ten or 15 year commitment but they are making money in the neighborhood we have a lot of stayathome moms and dads and freelancers and the dogs cove under the desk while you are working on whatever you are working on. So what would you say that someone has to do to be a great dog sitter . Do you have to have a lot of space or in the city . What do you need . I started with a small and making sure you take care of the dogs and walking them and to be a great host, you have to be good at communication. Getting back to your client, sending video and make sure they know their dog is have aig great time. It is all sending photos and videos letting the know their dog is being taken care of. It is a wonderful company. Thank you and happy birthday to toby. That is the show for today. Im sharon epperson. Thanks for joining us. Next week, summer wines. How to find a bargain to go with your barbecue. Each week keep it here, we are on the money. Have a great one and well see you good morning, america. Breaking overnight. California inferno. The wildfire burning out of control, exploding in size. What we saw was extreme fire behavior. Homes threatened, smoke and ash darkening the los angeles skies. Firefighters battling tripledigit temperatures in a desperate fight. The democratic duo. Hillary clinton and her new running mate, tim kaine. Ready for the first big test of the ticket the Democratic National convention, which starts tomorrow in philly. Clinton confident in her choice. Senator tim kaine is everything donald trump and mike pence are not. How tim kaine is answering critics who call him too boring. Wikileaks bombshel