the senate intelligence committee. lou: thanks for being us. have a great weekend. we'll have a great show monday.] just going out on a limb. have a wonderful weekend. >> one in three american jobs will be replaced by robots. john: well i lose my job? will the whole industry disappears? but so far innovation has been mostly good. will we take this too far? >> the latest have the pattern i'm. >> the music industry felt threatened. >> it's free, it's easy, you know, and it's wrong, but a lot of people do it.

>> school should not be something that you're forced to go but somewhere that you want to go. >> change is mostly good. that is our show. ♪ ♪ >> now it's time for john stossel. john: changing faster than ever. struggling to keep up. in some ways the changes are clearly good. robots like this are definitely helping to grow jobs much more quickly. >> they take away the backbreaking tasks and that allows the workers to do all of the high-end jobs. that is if they find high-end jobs. but what if most jobs disappear? >> companies planning to replace human jobs with machines is growing.

>> human instinct tells us that would be better if no one ever lost a job. politicians often demand that unions be protective, but americans would not be better off if telephone operators and clerks had their jobs protected by a compassionate law. those workers lost jobs because now money once paid by them is put to better use. in the media we almost never tell such a story. it's partly because we can only report on what we easily see and we can only see the people that get fired or take pictures as they leave their jobs on that last day when the factory closes and they have new thiny may find. the exciting product that they will produce, we cannot see that. you go to different colleges,

you talk about creative destruction. >> that's correct, schumpeter was interested in noting that along with destruction is the creativity that pushes capitalism in a capitalist system forward. john: one individual discovered it in france over a hundred years ago. and these cheap imports are unfair competition, they said, and government should stop the import. in response he wrote a satire that he titled the candle makers petition. and it read that the manufacturers of candles and street lamps and generally everything connected with lighting, petition the government. we suffer from the unfair

competition of a foreign rival. this has such an advantage over us that he floods the market in the product. he offers it at a low price. at the moment the disappears, all the customers desert us and turn to him and as a result an entire domestic industry is rendered stagnant. this competes against us without mercy. and of course the foreign manufacturer that they are upset about is the sun. >> it is traditional hospitality protesting against some businesses like airbnb. >> here is that petition, pass a law ordering the closing of all windows, skylights, shutters come and curtains.

>> why do we want to bring in all of this competition? >> what jobs are gone that you may be about? >> jobs that are created over the years, telephone operators, travel agents as must've been replaced by online booking, we have a lot of grocery stores and automated checkouts, and this needed to be done by him, to

protect their way of life and their industry. >> you see this cave where he's able to gather enough for everyday to take care of his family, even if there is a better hunting or forging around a couple miles away, he's just got enough for what he needs. and it may be finding the risk. if. john: today they don't resist it themselves, they hire lobbyists to prevent this innovation. thank you, sarah. i believe in creative destruction, but we all get squeamish when our own jobs are at date. what jobs are threatened

including mine. >> i retain more research on a more charismatic. >> something like that will happen at some point. it's optimistic, they say robots come bearing coffee and we should welcome the artificial brethren. peter welcomes that. but emerging technology specialist john hayden says we should not welcome the new robot overlords. >> humans have finite capabilities. we can only work 60 or 70 hours per week, are we going to choose human workers or machines? >> tt doesn't scare people, the robots are better. i have a lot of other people do it could have nothing to do.

>> at something that a lot of people worry about, but i don't think it's something that we should be worried about. and i see them as our partners and in some cases the tools. >> the industrial age has freed us up to do many things that cannot be imagined 100 or 200 years ago. 70% of the united states, the jobs that we have were part of this and people could not imagine the jobs that we have now, 200 years ago, 100 years ago, we cannot imagine the jobs that people will have from now and on many of those are going to be possible because of robot automation. >> here is how the great loss of all his the right the situation say, those individuals the right the simpsons.

>> they are placing us with robots and it's despicable. john: this will happen to 20 people and not all of them are going to find jobs. >> more of them are created in the economy but the number has expanded with the number of people because people are creative and inventive and they find things to do. >> a lot of economists are saying that this is a different era. the gdp has said that the wages are not increasing around the world. >> it is different. and the fact that we are replacing so many jobs with machines, to saying that there will be more jobs created. john: nbc claims that pharmacist, babysitters, sportswriters, lawyers, astronauts. >> the two things i wonder is who is going to pay me when my

job is filled and then second is how do you have a sense of purpose when you don't have any more work to fill the day. john: people find ways themselves productive. >> what is taught is that the government questions at the universal basic income question, and the welfare that we were just talking about before we came out, it's multifaceted and there is not an easy solution, but the question is what is the other alternative, that these thousand people are without jobs. john: when government steps in, they make is the work. >> there are models in

copenhagen, denmark, universal health care that works for them. john: let's show how hollywood imagines the robot dominating future. in this movie, will smith argues about the value of people. >> robot write a symphony or turn the campus into a beautiful masterpiece? john: this tv series imagines a future where robots are popular. >> they are capable of bonding empathetically with their clients and respond accordingly. and it's a significant achievement. see one that is fiction. but the issue of reason points out that he is dolls are popular and real and this stuff is coming. >> yes, people should be prepared, some will think that it's creepy and that is their right, but i don't think that it is and i don't think that people's personal perceptions of it, the opinion that it's creepy

should guide how we fit this role and in some cases people interact with pets, computers, i have a relationship with my phone, i yell at it sometimes and makes me happy in other cases and this is something that people will like, something we should celebrate and not worry about. john: thank you both. to join this debate, please follow me and use the hash tag innovation or like my facebook page and you can post on my wall as well. coming up, the dozens of things that have been creatively distorted and now fit inside my tiny cell phone. plus, selling a home. >> we have an agent [vo] when it comes to investing,

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john: do you want to sell your home? real estate brokers offer to help you but they charge a 6% commission. 6%. the average home sells for about $200,000 and that is a

12,000-dollar feet. $60,000 on a million dollar home. that's a lot of money for showing one house and so far the 6% real estate commission has resisted creative destruction. some say to negotiate with agents and some says the average commission paid down to 5.4%. but it's still quite a bit. increasingly people have found new ways to buy and sell homes. sixty minutes featured a couple that sold online. >> how much did you save or not going with a traditional realtor? >> overall we saved $26,000 and now it can walk down the aisle. john: they saved by selling through a real estate brokerage called redfin. how does that work? >> people say that the world should take notice. we have 10 million people using

this website every month and we try to use technology to make things better and faster and more efficient. we say people tend to $15,000 when they buy and sell a home through us. john: there are internet companies which just list things and they are great. but you still use agents. >> yes, we have our own agents because all of the efficiency that the website creates for us, we want to pass on to the consumer. if an agent and software work together, that's the only way the you can attack that its% commission and make a real estate better for consumers. john: a year after his company began, they caught a break when 60 minutes interview them. >> we have refunded over $3 million to our customers. >> refunded? >> yes, when we are the buyers ag we take our commission which is usually 3% and wiki one third f it and we give two thirds of it back.

john: i am amazed that they are almost at 6% and brokerage commissions came down travel agents, car dealers now with the information out there that they struggle to get as much. why do you think that is? >> real estate is a local business that takes time to penetrate every market and so their are hundreds of millions of dollars in revenue coming in at this point. yes, we only have three or 4% market share in some of the most established market. what you have is an industry that's very large and you have a company that is taking the market share hand over fist. we are growing 40 and 50% every year and we still only have a small fraction of the market.

john: perhaps you had grown faster if you haven't named your company redfin. >> redfin is real estate redefined. i like it. >> okay. >> you know, every single one of them has to be good. so the business grows at a steady rate and it can't grow faster than that without compromising customer service. someone. >> sometimes government stands in the way. they have laws preventing refunds. >> many prevent us from doing the consumer some of the money back. we like to give four or $5000 back in to the consumer just

because we are more efficient in states like this but they just . we don't see how on earth that can be in a consumer's best interest and that something that we have lobbied without much effect. john: good luck to you. coming up, can i get rid of of these credit cards? i am told that there is a better and cheaper way to pay for things coming up i was out here smoking instead of being there for my son's winning shot. that was it for me. that's why i'm quitting with nicorette. only nicorette mini has a patented fast dissolving formula. it starts to relieve sudden cravings fast. every great why needs a great how. every great why

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compared to paying with paypal, and what is next? the ceo of america's most viable company says that he knows. >> our vision is to replace this. 200 million times that we have scrambled for a credit card and we go through what is a fairly antiquated payment process. it looks something like this. john: i sped this up because it goes even faster. but you get the point, using a credit card can be a pain in the neck. >> we have created an entirely new payment process. we call it apple pay. john: it is quicker. >> that is it.

john: if it does, replace companies, max says okay. >> i think it's great, but it might not be me and you who decide that the sovereign marketplace. the kids you are talking about could decide that it's time for change and they are the ones who are going to decide. >> if i can consolidate as. >> you are not using paypal and all of these new things? aren't you still using credit cards? >> i am, but i just downloaded this onto my phone and there are other kinds of tech section matins and these are used to doing it and it's better because it's more convenient and the

transactions are faster and eventually we could see prices of transaction fees coming down and you will start to feel that over time. john: i just read that people got ripped off. >> there could be the starts and stumbles. when paypal started off they had problems but they had every intent to fix it and now they are second nature for paying for the stuff online. john: all of these are promising but they use the u.s. dollar, which is useful but since i was born this is like 90% of the value. this is what i could've bought back then. that is the reason that i am not putting all my eggs into this dollar. we have heard of this new form of currency called bitcoin. >> they are digital coins that you can send through the internet and transferred from person to person via the internet without going through a

bank or a clearinghouse. john: this is what you are most excited about we met. >> yes, i am. >> wide? people have been using it to buy illegal things. >> people use cars but we don't want to vanna cars. john: the price of bitcoins wt ou >> people kind of chill out and sometimes there is an irrational exuberance but we sorted out. john: you are most excited about in poor parts of the world? >> millions of people, billions, in fact, people who have no land

titles or property, while they might have is a phone and they are suddenly empowered. >> that's right, like the predatory government that they live under, for example. john: in zimbabwe they had million-dollar bills because there's been so much inflation. >> yes, the central banks are often far worse than our central banks, which is not the best, but even if we use it here at home and we find it disruptive, if the government is not scared of a little competition, let's be what these currencies can do. john: thank you, max of the wonderful freeman magazine. and coming up next, better ways to learn things. >> school should i am totally blind.

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