tv On the Money CNBC May 19, 2018 5:30am-6:00am EDT
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this is a 2014 anniversary there's only 100 made, and it's ridiculously fast. >> sure, it's ridiculously fast on land, but gene know lives in miami. problem is, his car isn't waterproof he spent $1.3 million to take his lambo obsession out to sea he built a lamboat to match his car. >> the adrenaline rush, you have to experience it. >> so to experience it, we set up the first ever lamborghini land/sea challenge he will race it on the causeway. i'll race the power boat on what's called the government cut. this is the ultimate super rich super race we've got ge we've got gene. >> the water we hit around 80 miles an hour. on land, he had a big disadvantage. >> traffic a police car busted >> and while i may have baeat hi in the race, the truth is the guy who owns the boat and the ca are is the real winner >> 6 clear clearclooer cl . hi everyone. now any can think, should we be afra afraid making houses cheaper faster and exactly the way you want them. but there is a catch shalterring myths, women in the workplace. >> if you're getting married and not at windsor castle, how can you make sure nothing goes wrong. the support of pickle ball, strange name, but it is booming. "on the money" starts right now. >>announcer: this is "on the money," your money, your life.
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your future. now, becky quick >> we begin with the robot revel lug, don't look now but it's here robots at work are getting more agile, faster and smarter. they are transforming industries from manufacturing to alculture. we have this week's cover story. >> robots are literally running circles around humans. boston dynamics spot mini robot was the star attraction at the conference the robotics company released this video showing the machine running up and downstairs and dodging objects. its two legged companion, the atlas jogging around the neighborhood the increasing agility of robots is transforming industries like agriculture. they use pliable 5rarms in its
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machines packing delicate items like eggs. this plucks strawberries it's being tested by the largest berry distributors in the world. >> the facial recognition, goes through the field and identifies weeds, versus crops. >> the head of john deere labs says it addresses the labor shortage of field workers. >> all across north america. >> in the warehouse industries, start-ups like this are doing heavy lifting. they work alongside humans and can carry heavy cargo. >> when you put a whole bunch of packages on the cart the robot can pick it up.
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>> one recent -- in 60% of all occupations nearly one third of job activities can be automated by the year 2030 so, what industries will feel the impact and are you in a job that will soon face automation joining us now is ed lee let's step back for a moment and figure out how to look at this ever since the industrial revolution began there are people that said oh, my gosh the machines are going to put us out of work. is this time different >> i don't think this time is any different. i think it's just fast er. it's proliferating faster than the industrial revolution replaced ac culture. it's not so much your job will be replaced. it's that the tasks will be replaced and your job will be different. it will give people room and new
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jobs will be created in terms of how quickly, five, six, seven years, back office operations or manual labor, those will change. >> displacement is a real concern this time around because it's happening so quickly. right. >> so there were scientists in singapore that said they had robots that could basically assemble an ikea chair. >> who doesn't want it assembled about i a robot. >> right that's a lot of dexterity. again, how should we be looking at this? >> in this particular example, they are made with off-the-shelf parts. they were put together for this specific task. it tells us you can mass produce these type of robots for the ikea furniture the harder part was program aring to do this specific piece
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of turn tour along with ai, i think the promise isn't quite there, but you can develop soft ware so is robot can read a manual and figure out without having to be programmed. they're trying to get to the point where the software is smart enough to i interpret the manual. >> let's talk about another scenario i know a nest they had a problem with the app it wasn't that the thermostat broke but you couldn't change it from a distance because there was a problem in the cloud in my town, a storm hit and two mom the who reached out and said i can't get into my house because of the electric locks. does anybody know a locksmith. >> personally, i don't like those types of vices where it's sort of mission critical heat, the door i would stay away from those at least for now.
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it can be helpful. newer versions are designed so you can physically map nip late them if something doesn't work even then, it's a big risk i would wait longer before employing these types of devices. in the meantime, if it you are going to get these devices, i think it's better to make sure they have the ability to physically change the settings or get into the door. >> not a promise but maybe not quite there yet. thank you. now here's a look at what's making news as we head into a new week americans kept spending lost month. that's good news nor the economy. in line with what economist expected the increase was larger broadly-based with food, beverages and clothing strong. stocks snapped an eight-day
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winning streak nasdaq and s&p falling as well stocks were mixed later in the week it seems like an unlikely marriage, but walmart and lord and taylor are teaming up. they will offer 125 fashion brands up next, we are "on the money," you can get just about anything deliver the how about your next home later, ambition, drive and kindness, how you can use empathy to achieve success in the workplace. right now a look at the way the stock market ended the week.
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real estate is in high demand in most of the country but there is a shortage of new homes for sale and a lack of workers to build them. a new start-up is trying to solve both problems with a high tech solution. >> in an unassuming phoenix factory, a team of techies is upending the way buildings go up. >> further to the right, we have our cabinet shop. >> using high tech to build efficiencies for design, material supply, manufacturing, logistics and assembly the goal, remove time, cost and especially labor from construction this is barely three years old but already changing the face of construction simple, but filled with creative opportunity, especially when designed using virtual animation. they put large sections of a house or bidding together in the
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factory, windows, doors sheetrock, a full kitchen all done, and then send to the job site managers on site follow instructions on an ipad. >> because we have the product and catalog we're able to select the finishes quickly. >> the founder and ceo used to head up flex tronnics and spend time at tesla. >> it's not like a visionary break through, it's applying manufacturing techniques, if you will, to the construction industry, which doesn't happen. >> the company recently got an infusion of nearly $1 billion from soft bank bringing its total value to $3 billion. then building on a model. >> we need to add more because we're winning business
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everywhere. >> they have over $1 billion in the works. for "on the money" i'm diana olic in phoenix. it's a phrase you probably haven't heard in business before niceness is your super power, no the a weakness that's according to fran hauser. >> the title of the book is the myth of the nice girl, meaning what >> meaning that the myth of the nice girl especially at work, is that she's a pushover. she's passive, and she's weak. and i don't buy that i think there's so much strength in being nice at work. >> i wilove that message but i think it applies to men and women. bigger issue you don't have to be a jerk to get ahead. >> i agree i think --
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>> let's go with this, the idea of being nice. reason people push back on that idea is if you're nice, you don't walk in and ask for a raise so you can't get ahead what do you tell people in that situation? >> if you're in a position where you want to ask for a raise, i think it starts with knowing what your marketing rate is. and have peers at other companies that can share that data it gives you confidence too. knowledge is power the other thing i realized is that women tend to negotiate more effectively when they're negotiating on behalf of someone else if you're negotiating four your best friend, you can clearly see the value she brings to your company and you care about her so much is you're going to go to bat for her. channel that for yourself. care about yourself enough that you're going to give it your best shot. >> be realistic right?
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fact based information how do you tell somebody that they can effectively give critical feedback? that's another thing you want to be liked but you also have to tell people either on your team, coworkers or people who work for you, look, this is something that you need to improve on how do you do that nicely? >> the way you start the conversation is really important. so, you don't want to do it in a way that's threatening to them because that's going to elicit a fight or flight response if you start the conversation by saying something like i'm your biggest cham i don't know, i'm a fan, i'm here to support you i want to see you successful, that creates a psychologically safe environment where the person can receive the feedback and engage. the other thing i would say is the way you end the conversation making sure you have next steps and how specifically you're going to help the person address the feedback.
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>> it's great. we want to thank you for being with us. >> thank you thanks for having me. up next, we are "on the money. you may have heard about a big wedding in great britain but if you're not a blue blood, should you have insurance later, what do you do when you mix tennis, ping pong and more grab a racket. so what does the dishwasher do? new cascade platinum lets your dishwasher be the dish washer. three cleaning agents dissolve, lift and rinse away food the first time. new cascade platinum.
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even royal weddings have drama, just ask meghan markle, but what happens when that becomes something more serious like having to cancel? with the average cost of a wedding topping $33,000, it may be a good idea to protect your investment joining me is sharon what kind of wedding insurance are we talking about >> wedding insurance, two types that you can look into one is liability coverage. other is for event cancellation. liability coverage is if you have your wedding in a place that is a venue that normally doesn't do wedding, a farm, a winery, a vineyard then you may want to have liability coverage, and that can cost you somewhere between $175 to -- >> if something happens, or suddenly the place goes under and is not there anymore. >> both of those things can be covered. for event cancellation, a lot of that is usually weather related.
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in 2017, 40% of wedding insurance was to do -- cover cancellations. property damage is another issue that some people are looking into something falls on your car in the parking lot of the wedding venue. that theft, another issue, wedding gifts, some people want to take them home with them. >> is any of this for coverage if you decide to back out? >> the one thing that everyone's asking if somebody gets cold feet and decide this is not the with unfor me, i get to -- no >> pre nup that gives me more faith these are really expensive so i guess that's why people are getting involve the. what should people know and think about for deciding you need to ask yourself what am i trying to cover. this guy seems great, but i'm not sure, don't get wedding insurance. it doesn't cover that. if you're concerned the dj might
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move to another state or the venue night not be able to provide things on time then you need to get a policy, read it and make sure that's covered. the other question is not only do what do i want covered but what are the limitations then look at various ca arrierst see what he cover. say you're concerned about the engage. ring, make sure that's covered. get a rider so you don't necessarily have -- if you're concerned the gifts may be stolen from your parents' house, it's possibly covered by their homeowners or an umbrella policy if there's a fall on the property you have control over that person who got insurance because someone had a tree fall in the venue, that person's auto insurance policy probably covered that so you got to look and see what
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the current insurance covers before going out to buy the other. >> brand new world sharon, thank you very much. great to see you. up next on the money, a look at the nouz for the week ahead and a game with a strange name >> coming up next i'm going to tell you about one of the fastest growing sports in the country.
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here are stories coming up that may impact your money on tuesday the philadelphia fed non manufacturing report will be released on wednesday we'll here how many new hopes were sold and on thursday the existing home sales report on friday the durable goods for april. items intended to last for at least three years or more. by the way, cheers it is national wine day. for many the start of a three-day weekend as we head into memorial day weekend. we all know exercise is the key to good health but one sport is picking up steam, specially with the boomer generation this is pickle ball. you might not know it but it's one of the fastest growing sports in the country. >> it's been described as playing ping pong standing on the table. court is fairly small.
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it's only one half the size of a tennis court and it's very social >> now it's time for some instruction. i've got my paddle here and my head band so i am pumped to pickle it up ♪ >> the sport is simple to learn, but difficult to master. >> take that out don't put that in. take that one out too. >> it's a landing spot for @lieutenant for athletic people whose bodies can't take the pounding. >> i have a bad back and limited motion in the shoulder this enables me to be active. >> as long as you can take three step the forward and three steps back and hit a ball with a paddle, you can play >> everybody can play. little kids, up to people in their 70's or 80's. >> pickle ball has taken off in
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the last couple years with nearly 3 million players in the united states, going 12% from 2016 to 2017 bringing in money for gear and clothing suppliers and national tournaments. >> many of the condominiums that try to attract residents have built pickle ball courts. >> but the battle for courts means time is being taken away from other sports. >> tennis players don't really look at pickle too fondly. >> unfortunately the pickle ball courts want the exactly the same time as the tennis players you get a little clash going on. the sport is growing and they have to somehow address the situation. >> how that resolves is still not clear but within an hour of learning all the rules, playing reasonable games i still have to work on my finesse game and catch up with experienced players. with more and more boomers picking up pickle ball, the
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future appears bright. cost is relatively cheap, tennis shoe shoes and this ball is about two bucks. paddles, the recall cheap ones about $20 bucks, they range up to $50 if you're a real pro, you can be talking $100 the place i went to have loaner paddles. >> i love it why do they call it pickle ball? >> two different stories so the game started in 1965. and the family that started it had a dog names pickles that would run and chase the ball the other story that goes with it is -- see -- becky lost the ball the other story that it reminded them of the pickle boat in crew where you get the leftover oarsmen. >> i like that one tell me the truth. you're a little young for this demo
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would you play it? >> i liked it. it could be a good indoor game if you wanted to do something in the winter but can't get someone to place tennis with you, i'm thinking like a pregnant wife of mine all right. you don't have to run on tennis, just stand there or little kids and you don't want to get them on tennis it is like ping pong but you're standing on the table. >> i like it and i like your outfit. that is the show for today i'm becky. thank you so much for joining us next week, think you have any privacy left wait until you find out where these pictures came from each week keep it right here we're "on the money. have a great week. ♪ tired of wrestling with seemingly impossible cleaning tasks? using wipes in the kitchen, and sprays in the bathroom can be ineffective. try mr. clean magic eraser with durafoam. simply add water, and use in your kitchen for burnt on food,
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hey there, we're live. guys here getting ready behind me while they're doing that, here's what's coming up on the show >> good time for at the great taste. >> maybe not because according to carter worth. risk one to make five? dan nathan has a way to do just that if chip stocks move just 8%. he'll break it down. and, ralph lauren shares are nearing one year highs
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