Thank you. I am the anticlimax. The only thing standing between you and the metro. Not to let you ride the metro. Hisses from the audience. There has been a lot of topics the last couple of days. There is one that is undergirding it, who we are and how we behave and whether we have character or not. The way i frame this, we have two sets of virtues. The resume virtues and the you e. G. Virtues. The resume ones are the skills you have good at business, accounting, the eulogy is what they say after you are dead, courageous, brave, honest, capable of great love. We live in a society where Everybody Knows the eulogy version is more important, but we talk about the resume more. We talk about public life more than private life even though if you dont have that private solidity, your public life falls apart. We are to morality what the victorians were to sex. We cover it in euphemism. We understand the characters destiny. Whether talking about ebola trade policy, where it falls apart you have
Profitable Business Model and no one has really done it for financing so we set off with affirm to try and do that. What we did that and started with was pointofsale lending. When you go to the Department Store the person will say come apply for the instore credit card and you know it will be a painful process and you probably when i get approved and it is based on your fico score some magical scored no one understands and the fees will be bad and the Interest Rate horrible but it is a great boon to retailers. It increases sales and improves conversion. So they say what if we provided a great alternative. But affirm is for consumers to make purchases at pointofsale . Thats what it is today. Youre taking a one interest load, slightly high and then fairly low. Compared your credit card, if will pay 700 several hundred dollars. What would you charge me on an affirm loan . Somewhere between 60 and 17 and the average credit card, the millennial someone who is fresh of college with a psycho
To help you with the political war. You put it differently, you said its a campaign that you are running. Is bringing him on part of this creating a kinder, gentler he does not start until the end of september. He was obamas 2008 Campaign Manager and he was an advisor sort of in between the campaign and the white house in 2012. He is a pretty incredible guy. But the context is we view where we are at as there is a Political Campaign that is happening. We did not really realize it but there is a Political Campaign that is happening and uber was the candidate. The opposition was the taxi cartel. They were the opponent. Maybe there are some primaries going on that some other folks in the ridesharing space, etc. But the big opponent was the taxi cartel. They have been giving political donations for dozens of years, tens of years, decades. They have been lobbying folks for those same decades. Bayonne local politicians. They have created a monopoly in every single city for taxis. The causes
Families together. Why do you think it is . If you have an eightyearold, 12 year old and they are sitting there at home on a friday night saying i like this idea or do not like this idea, i wouldnt pay as much of the evaluation, understand what equity is an approximate gross margin. Parents, you will be proud of your kid when their top by that instead of was number one on the charts and tell me about our rio Arianna Grandes latest hit. It is to them being an entrepreneur and being excited about business. You can call it a new age lemonade stand. And theres a theater for a entrepreneurship and we see that with techcrunch and you are involved. We have had Companies Grow up and blow up. Switching gears and well wrap it up shortly, you recently talked about Companies Moving overseas to avoid u. S. Taxes. Whats wrong with trying to make your company more profitable . Absolutely nothing with making your company more profitable, but who owns your company . Shareholders. There is a misconcepti
Year. That was higher than last year. There was a spike in shortterm money rates that weighed on sentiment today. Chinas central bank refused to injex cash into the money markets for a second straight session. Japan, the nikkei was down by almost 2 . The hang seng was off by 1. 3 . And the shanghai composite was off by 1. 25 . Well see if that weighs on market here this morning. Steve, right now, ill send it over to you. Thanks, becky. In corporate news, jpmorgan reportedly nearing a roughly 6 billion settlement to settle claims with Mortgage Backed securities in a run up to the financial crisis. In separate news on the bank, jpmorgans 13 billion mortgage settlement with the government kind up costing the company lows her to 9 billion after taxes. A number of buyout firms, meanwhile, are reportly exploring a deal for all of part of safeway. The name includes cerberus. Activist investors Jana Partners says the Company Shares are undervalued. It held talks about reviewing if strategic ey