or to attract investors. we'll look at the scene in berlin. hello, and welcome to our show. i'm seeing beardsley in berlin. us regulator seized a beleaguered american lender 1st republic bank over the weekend. it's the 3rd us bank failure in less than 2 months. banking j. j. p, morgan has won a bid to take over 1st republics, assets that you'll also finalize over the weekend. 84 1st republic branches in the u. s. were sent to reopen, as j. p. morgan chase branches on monday. behind that banking crisis is the rapid rise in borrowing rates in the u. s. and elsewhere in recent months. that's also hit startups hard. a young growth at all cost companies had become accustomed to bucket loads of investor money when rates were lower. now they're having to show a lot more to get the cash. ah, berlin is home to treat 1000 startups were employ 70000 people. but after many years of an upward trend, now financing difficulties are looming. launch lot startups such as

claudina, tier and get it have already laid of many employees associate on all of these things that have suddenly appeared interest rate increases, economic development, ukraine crisis banking crisis. all of these have effect on the start up seen. that means that investors are hesitant about their investments to a certain extent and reluctant to provide followup financing. that means that there is a market in wait and dive and mocked around $10000000000.00 euros were invested in startups in germany last year. this is 43 percent less than the record high seen in 2021. efficiency and organic growth are now in demand instead of rapid expansion. strongly promoting growth. distill one of the important aspects, reach the gothic, but now it's also about building

a really solid business model, being able to handle the money and using the capital efficiently. oh, if it's an ide suzette and these are good times for so called gulf tech. in other words, for startups that deliver new solutions for the public sector, and therefore having the state as a secure and stable customer for detail. for example, automates operations, for public administrations, unions from standard we are seeing a lot more interest now than before. itself is the start to, for our sessional. much death, a little hard because people are looking more carefully in aspects like how efficient is the business models aren't of how well the money is used up. melissa, right. you also have financially sound customers for this part. of course, the administration is something different than moody consumers who can frankly change their minds. sengleman. there's no light of mine and come oh, even if the golden years are over now, there is still money and interest for stops. the difference is that now investors

are taking a much closer look at to companies. the start up market may finally be facing reality off to well, the reality is, it's been a jolting past few years for workers, coven inflation, now worries, over a i, and things aren't going to get easier. that's according to the latest future of work report from the world economic forum. it says that technology and the move to green economies will destroy some jobs, will also creating many new jobs. i spoke earlier today, dasanya the hedy, she's managing director of the dubey of and i asked her to summarize her report as briefly as possible. it's obviously been a very disruptive period, but there is more destruction to come. that's essentially what we find with a quarter of jobs likely to go through some kind of a change about 12 percent likely to decline and about 10 percent that are likely to grow. all right, so a lot of disruption in this report. i want to talk about one of the 1st points that

i saw on this report is this idea of divergence within labor markets based on skill . now we know that there's always been a gap in incomes and, and, and outcomes for workers based on skill level, higher skilled workers to learn better, the lower skilled workers. should we be concerned that that gap is getting bigger and bigger with new technologies? and then in fact is becoming a gulf i think it's very clear that there is a hollow, hollowing out happening off the labor market based on skills levels in the last few years. it's really been about this concern around industrial robots. displacing those that work in factories, for example. now, to some extent there's been that displacement, but to some extent there's also been a lot of growth in terms of the advanced manufacturing workforce. a very similar pattern is now an emerging when it comes to artificial intelligence, where those that are at the lower end of the skills, around administrative and secretarial work. now risks being disrupted by

a i especially generated a i. and at the same time, there's a lot of growth in higher value ad roles. so we're seeing very similar inflection point now. and so there is some of that risk, but the net result is still positive when it comes to technology impacting jobs. um, you mentioned the this, this disruption that is this idea that jobs are going away. jobs are coming in due to factors such as technology, the green economy taking root wise that we see a net positive and sort of a net negative. when we look at, for example, automation, that's obviously something that's in the headlines. we look at what's happened with generative a i, i imagine a lot of viewers have the feeling that they're going to be fewer jobs because they might be taken over, especially in the lower skill level. yes, so this is where on half of the companies that we surveyed actually expect technology to be a net job creator and about quarter expect technology to be in that job destroyer.

so overall i think the outlook is positive rather than negative, especially when it comes to overall numbers. and i think in part this is because of the possibilities of the application. so some of the largest gains in jobs are going to come, for example, from the agriculture sector, about 4000000 new jobs. some of the largest gains are in education, about 3000000 new jobs. when it comes to the green revolution, about $1000000.00 new jobs and each one of these rolls is going to be in part enabled by these technologies. so i think it's not quite as simple as technology taking away people's jobs. there's a lot of additional augmentation and growth across sectors that technology will also create those sayed zahid with the world economic forum. and you can find the full interview online on youtube, under our dw news channel. with you as, as kicking off its annual for day investment summit today, which this year seems more like a victory lap. after all,

overseas firms are already rushing to get part of the more than $400000000000.00 in climate related subsidies as part of the new american inflation reduction act. well, that act has europe worried? could the continent lose even more supply chains for renewables as companies rush, rush across the atlantic? well, that's what i recently asked professor michael berda at humble university in berlin . take a listen. it will be difficult because of the u. s. hamstrung being a union of many jurisdictions with different tax authorities makes it very difficult to present a single tax break for investment in the european area. and each country for itself is not a solution. in addition, europe has this predilection for, for going for, for direct subsidies, giving money. but you have to apply for it. you have to go through a lot of bureaucracy and you have to learn how to do it takes a long time. and this is the european problem, i think when we look at the,

you and their response to the american plan, inflation reduction act de point to the green deal, which is a plan of a much longer term. it says that they want to build up resilient supply chains, and they point to the u. s. and they say, this is big money, but is it going to be there to the long haul? do they not have a point there that there is a longer, more structural plan that you completed the u. s. u u has one advantage of the u. s. doesn't have because there are several jurisdictions there, many different ways to get to rome. so many different paths and, and establishing durable or resilient value added change really involves lots of different points of contact. and i think that could actually be affected be would act in europe's favor, but a general over the overarching policy to establish a durable values change. i don't see much of i see competition among the states establishing more reliable alternative di risked sources of inputs

for european industry. when we look in general at the way the trade environment globally is moving, we've seen, of course, the inflation reduction act, which has a lot of protectionist measures in it, in terms of where people can produce, where firms can produce in order to get these subsidies. whereas there are other things like chipped act, the u has it's carbon border tax that's going to come up for too long. are we seeing the as we see these protections measures? what does that mean for prosperity in general? we look at the when we look at the world, when we move away from a globalized system trade, i think the crises of the past 10 years have pointed out that as a trading system, the world is a bit bit vulnerable. and i think the natural reaction, especially respect to the politics and the war in ukraine, has been to, to withdraw to a sort of a regional approach. and i hate to use the word, but multi polar approach seems to be emerging where the united states and its

satellite trading countries in the u, which is a very large trading block. and then of course china and its trading partners. this is and development, which is not great for rural prosperity because it will certainly reduce the inter linkages between these trading blocks on average. and this will mean higher prices for us. it'll mean less opportunities for, for asia, for example. and it may mean less lower standards of living unless economic growth over the medium term could we expect us to also force you to in a sense, choose sides more geopolitically through trade, have make decisions and trade. they're going to affect the geopolitically. this is a real problem because the united states has used the strong arm of the networks that controls in, you know, in a way that sometimes doesn't appeal to european policymakers. and europe is asked

to choose between a rock and a hard place because the alternative would be to go with china. and we've seen this, the recent statements of my call and other politicians criticizing china's statements on the baltic. states is a great evidence that europe has to sort of establish its own existence and, and probably do so very quickly. so michael burton university. thank you very much . thanks. and his reminder of our top story u. s. regulators seized a beleaguered american lender 1st republic bank over the weekend. it's the 3rd american bank failure over the past 2 months, begging giant. jp morgan has won a bid for a full takeover of the company's assets. and that's our show, as always for more about these and other business stories, you can find it online. he w dot com slash business. we're also on the d, w. news, youtube channel, and see there's a black watch. ah,

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diversity of species with coast of the british isles. and they are calling to preserve this habitat dials started on the w ah ah, this is the w news life bergland mass protest and friends against planned pension reforms. clashes in the capital as hundreds of thousands use additional made demonstrations to voice their anger at president macros plan to raise the