Square's iconic card readers have become a staple in trendy coffee shops, boutique stores and neighborhood restaurants. But the company does so much more than just help business owners swipe cards. From payroll services to the Venmo-like Cash App, small business loans and more, Square's CEO Jack Dorsey has built a $26 billion dollar fintech empire. So where did all Square's money come from and can the company's prolific growth last? » Read More
By: Tala Hadavi
Au pairs are a cultural phenomenon. Every year, around 20,000 young women and men come to the United States to care for children and learn about American culture within a special cultural exchange program known as the au pair program. But au pairs only make $4.35/hour. Check out the video above to learn more. » Read More
By: Jaden Urbi
Two dozen Democrats are vying for the middle-class vote in the 2020 election. But some candidates are facing skepticism for pitching themselves as champions of the middle class, while having millions in the bank. Of the 13 Democratic candidates who have released their tax returns, Pete Buttigieg's 2018 income was the lowest. The South Bend, Indiana mayor's tax returns show he and his husband, Chasten, brought in roughly $150,000 last year. Here's how he makes his money. » Read More
By: Jaden Urbi
Wolverine Worldwide is a $2.4 billion global corporation home to brands like Chaco, Sperry, Merrell and Hush Puppies – and a point of contention in its hometown. For years, the shoemaker bought 3M Scotchgard coating to waterproof its Hush Puppies shoes. That coating contained a chemical compound called PFAS, which scientists now know can be toxic. Decades-old tannery waste leached those toxic chemicals in the ground for years, contaminating residents drinking water and the local river. » Read More
Elizabeth Warren has pitched herself as an advocate for the middle class and a critic of the wealthy. But the senator has amassed some wealth of her own too. Warren and her husband Bruce Mann's tax returns and Senate financial disclosure forms show the couple is worth millions. Here's where all that money came from.
ETFs and index funds have become huge parts of capital markets in the United States. The same way index funds allow investors to spread out their cash over the entire stock market, ETFs allow investors to focus on specific sectors or groups or investment classes. Here's how they work, and how they changed investing.
Joe Biden used to joke about being the poorest member of Congress. Now, he and his wife Jill Biden are millionaires. The 2020 presidential candidate, who has touted himself as a champion of the middle class, released his tax returns. The documents show the Bidens made more than $15 million in the two years after they left the White House. Watch the video to learn how the Bidens made their millions.
The U.S. military's use of a firefighting foam, with the intention to save lives, could turn out to have dire consequences for the people who handled it and people who live nearby. PFAS, short for per- or polyfluoroalkyl substances, have seeped into the groundwater and at times spread into drinking water by way of firefighting foam runoff. Now, communities across the country are wondering what PFAS-contaminated water means for their health, their homes and who's responsible to clean it all up.
Democrats running for president have no shortage of cash. Senator Kamala Harris and her husband Douglas Emhoff top just about all of them. In 2018, the couple reported about $1.9 million in adjusted gross income. Watch the video to learn how Harris made her millions.
The income inequality gap in the United States is growing. Programs providing better basic education and job training would better prepare workers to compete in the economy. Progressive tax laws could drum up the revenue needed to fund these programs. These are just some of the solutions to ending income inequality in the U.S.
For nearly a century, the U.S. was the largest oil producer in the world. But rising demand and stalled production led to America's increasing dependence on foreign oil, and energy independence became the fight of every president. Today, we're nearly there. By 2020, the United States is predicted to become a net energy exporter. But how did we get there?
The race to make point-to-point space travel a viable transportation method is heating up as companies like Blue Origin and SpaceX continue to move toward developing passenger rockets. A plane ride from New York City to Shanghai is about 15 hours - and it could be as long as 29 hours with connecting flights. But with point-to-point travel, SpaceX says it could get you there in less than an hour. But how realistic is this approach to long-haul travel?
This video was originally published on April 8, 2019. Jim O'Neill, a former chief economist at Goldman Sachs, says the global economy is "definitely" slowing down. While this alone might not be indicative of a recession, he says a global shock of some sort could elevate the risk of an economic contraction. Particularly if something went "really, really badly wrong in China."
This video was originally published on March 4, 2019. Modern Monetary Theory (MMT) is gaining traction in American politics, energizing the progressive left and roiling deficit hawks. Stephanie Kelton, who advised Bernie Sanders' 2016 presidential campaign, explains the basics. She also talks about 2020, saying Democrat presidential hopefuls are swinging for the fences with ambitious policy proposals while Trump appears to have changed his thinking on the deficit and debt since his 2016 run.
This video was originally published on December 21, 2018. Richard Fisher, Barclays Senior Advisor and former president of the Federal Reserve Bank of Dallas, is concerned about debt in Europe. He also says America's "horrifically bad" education system is the biggest long-term threat to the U.S. economy. Fisher worries the U.S. will struggle to compete with other countries like China where he says there is more of a cultural emphasis on education – especially in science and math.
This video was originally published on November 26, 2018. Gary Shilling has made a career out of predicting bubbles. So what are the big risks he sees out in the global economy now? It's not necessarily a major shock that could drive the U.S. into a recession immediately, he says; he's concerned about emerging market debt the Federal Reserve raising interest rates.
There are many open questions about whether or not the tax reform bill passed by Congress and signed by President Trump in late 2017 has benefited the economy. But there is no question that it's been a boon to the investor class.
Inequality of income and wealth has surged in the U.S., where reliance on free-market forces has been especially strong compared to other advanced industrialized economies. The dynamics help those with higher levels of education, hurts the less-educated, especially in rural areas, and creates 'superstar' workers, companies and cities. Meanwhile, the middle class is being hollowed out. Here are some of the drivers of this troubling trend.
When the most powerful executives in the world have a problem they just can't crack, many of them turn to McKinsey - a prestigious and secretive consulting firm that has been influencing business and government decisions for decades. But now, as consumers require more transparency, the company has been thrust into the spotlight.
Achim Steiner leads the UN's Global Development Programme, where he works with governments to help lift their citizens out of poverty. Among the most notable countries tackling extreme poverty are China and India. Watch the video to learn what he thinks countries are doing well in their development, and what still needs to be done moving forward.