first up russian all negotiators have reached a long awaited budget deal now in a rare act of bipartisanship democratic senator patty murray and republican budget committee chairman rand paul ryan struck a deal on tuesday night now the bipartisan budget act of two thousand and thirteen said discretionary spending levels for the next two years add a little above one trillion dollars now the legislation provides sixty three billion in sequester relief to be split evenly between defense and non-defense programs funding would come in the form of changes to the federal employee and

military pension programs along with higher fees for airline passengers now as stocks fell wednesday as a result of increased investor expectations that the fed may now start to wind down its eighty five billion dollar a month stimulus which has fueled a year long market rally. in other news the demand for wireless airwaves have soared in recent years and americans spend more time on their mobile devices than ever before whether it's watching t.v. playing video games and even shopping at times and as the u.s. government holds its first major auction for wireless frequencies since two thousand and eight speculators are out and panning for wireless gold now the january auction is crowded with people who don't own networks but who are hoping to cash in on these scarce assets in the same way that traders buy stocks and bonds with the hopes of profiting off their speculations individual investors are wagering that they can capitalize on the demand for wireless airwaves by buying up spectrum licenses now this is

a modern day wireless gold rush if i've ever seen or heard of one finally it looks like j.p. morgan might be getting into the business of bitcoin a true story now the bank has filed an application for a computerized payment system that eerily resembles aspects of bitcoin according to the patent application j.p. morgan's proposed system would allow people to make anonymous electronic payments over the internet without having to reveal their name or count numbers or even having to pay a fee when it comes to viable payment alternatives looks like virtual currencies are putting up a strong battle against the big banks well there you have it we'll be tracking these stories and keeping you posted on all of the latest.

for many of us social media plays a bigger role in our daily lives work or even family in fact there's a very good chance that you're watching this very program right now via you tube but how does one decide which social media platform to use or who and what determines which new app is the coolest handiest most useful george gates and patrick curley left their lucrative careers on wall street to pioneer a tech startup based on the assumption that the best recommendations come from friends they're putting this to the test with their new tech startup seven and joining me now from miami to discuss patrick and george to themselves welcome guys how are you doing today things there and just want to clarify the jobs on wall street weren't that lucrative the past. well he has something new that hopefully will now i'm going to start of a same post a seven it's an i phone app that basically covers all things leisure and it does this by enabling its users to share their favorite restaurants hotels and nightlife spots around the world with their closest friends now first up i got to ask you

both right off the bat can you start out by telling me what made you leave your former lives in banking and finance and start an iphone application that centers on hospitality it seems like a far stretch. yeah look i mean it's the easy decision for me i mean i love eating drinking and traveling so the opportunity of up with one of my best friends i've known for over ten years and korean i phone app to help other people really they the idea start off as us helping our closest friends share their favorite restaurants bars and hotels all over the world with each other and i mean don't get me wrong i love my job in wall street work for a huge bank with a lot of smart people great mentors. ultimately this isn't was do i want to be an employee helping other entrepreneurs grow their business or do i want to be a business owner and create a company build a company with one of my best friends to solve a problem that you know i think every person has at some point in life now project

you know were a v.p. at citigroup and george you worked in private equity but you say that you always had an eye on tech so who came up with post seven. that's a good question so basically the concept proposed a seven care of. over your ago patrick and i were planning a trip to portugal to go surfing and we don't really have much time to think about you know what to ask our friends you know phone e-mail and everything and or to you know so we really need to make a decision very rapidly so what we did there was i told patrick i was like would it be great to have. you can get the recognition directly from opposers friends right now and since we didn't have it we went in and search the web for solutions that's were really a lot of problems started happening and we decided really it was time for us to create this stop so it was really a result of our joint passion for travel and the problems that we experience on our

trip that we decided to launch. now patrick what makes post zero seven better than a yelp or a zagat and other things available on the market today. yeah look i think you know the gatt which is now part of google and yelp which is a public company are very successful companies right you know these are companies that have been around for years there is a lot of content on them but one of the problems is there are so much content and a lot of content isn't even relevant for you as a user because i'm going to be naming names here but a lot of our competitors have reviews from people that you've never met once in your life so why would you trust reviews from people you've never met the other thing is that you know maybe not all of your viewers realize that a lot of the content on these competitor apps or competitor websites are actually fake there is a business owners that go out there and actually have their employees their friends and family leave positive reviews and then on the flip side there's a lot of business owners that actually trash talk some of their other competitors

whether it's in the restaurant shopping or movie space you know kind of saying bad things about them so you know one there's a lot of fake reviews out there into a lot of the reviews on these sites are from people you don't even know so why would you trust a recommendation from someone you've never met before you know george i'm going to direct this question at you how do you connect to friends via a post of seven that's very simple all that's actually on the first things you do want to do on the app what we do is we ask to gain access to your contacts whether it be on facebook or your form of contacts very simply to tell you which friends of yours are already on posada and which ones aren't so you can quickly connect to those people that are and invite those that are now to make this so i want to quickly interject can you ever see non friend reviews. so the only non direct friend reviews you see are your friends or friends so we think that it's human nature to get recommendations from a friend or from getting a predator or

a record a reliable recommendation and beyond that there's more of a stretch now i'm also going to use george as a user i can see reviews posted by strangers how does a new user find anything in a new city if they can't see a stranger's review and they don't have very many social media friends. so first of all i mean you don't necessarily know we're all your friends and that's one of the interesting things about it is that you may not think that your friend has actually been too. poor but you have posted and are smart messaging system you can ask a question and we will basically analyze your network and find which is the most suitable to ask your question and that's why we bring also friends of friends into the picture so you can broaden the spectrum of people you interact with without compromising relevancy ok now this question it's for both of you the application provides your team with a tremendous amount of data both on your users and the venue's being reviewed how

do you intend to uphold user privacy. yeah that's your question so we are collecting a lot of really valuable data center we're doing we're helping all of our users organize all their favorite places anywhere in the world whether it's a restaurant bar or a hotel and we're also letting them keep track of all the places they haven't been but they want to go via bookmarking so. you know the core of the app itself is really built around privacy so the whole idea and we're actually just talking to reno here in your miami studio she was talking about this tiny little russian spy that has amazing food but she doesn't want to tell the whole world to go there because she doesn't want to wait in line so the whole idea behind posts seven is you only share your information with your closest friends beyond that it doesn't go any further we actually use that data and leverage it to help. you reserve tables book hotel rooms actually cut deals with different hotels restaurants and bars to

actually give you deals to places that you want to go or places that you love ok so it has a concierge aspect as well it sounds like now i want to ask you there's a lot of good ideas out there floating around but execution is obviously crucial and it seems like you guys have done a pretty solid job with the design and look of the app do you. either of you have a background in coding or computer programming that's interesting are sure we don't . i've always wanted to do some programming and we've done a lot of courses to get really up to speed with them. and the workings of how you program however we have to focus on what we're good at and luckily we have a very very competent pecl co-founder adam berra working with us leading all the technical side of things so you know we understand what's going on but we leave that in the hands of people who are really experts yet george and i are doing all the fun so if we're going to a bunch of restaurants bars and say hotel rooms and you know if they're good we

flagon and if they're not they don't show up on the guys i don't know all the hard work sounds like life is pretty terrible down there in miami now speaking of miami i have to ask you guys why did you choose to start your company they are opposed to other cities like san francisco or new york that have much bigger tech scene well believe it or not miami was a very strategic decision process as you may know is not necessarily known throughout the world yet these yet as being a tech hog but what we decided was really we were looking for a place that had a vibrant intracranial community a high quality of life because of all the cosmopolitan paul located near or in to our strategic markets the united states latin america and europe so really when we came here we analyzed and we actually saw there was a blossoming. tech scene here we really had a really good report with the people here so really it made one hundred percent sense for us to join to be part of that i think i think i think another key reason

erin is that you know lake george seventy miami is a major metro metropolitan hub for the world but another thing is a big chunk of the economy here in miami is actually built around hospitality you guys and i actually a perfect fit for us i wish we had more time you have to come back when you're massive massive successes in putting market dr bird out of business but we've got to go for now entrepreneurs how. kirlian george a co-founder as opposed to seven thank you both appreciate it thanks art. coming up three d. printing isn't just for decoration anymore we take a look at the new barbie cars a two person electric three d. printed vehicle for this revolutionize the automotive industry we'll find out coming up plus how come so many c.e.o.'s suffering from the mouse syndrome rachel currencies and i discuss our favorite business acumen fails in today's big deal and as we head to a quick break here's a look at some of today's closing numbers stick around.

for. a. very hard to take a. look. at that back with her but there are no. police.

i've got a quote for you. it's pretty tough. stay with substory. is this guy like it should be or that john stead of working for the people most issues the beach or preacher drives visions. of the dead rather it was. three d. printing technology is expanding fast you can now print jewelry guns clothing and

even food true story food but what about a car well the idea actually isn't that far fetched jim corn is sun's designed to a predominantly three d. printed electric vehicle and joining me now from los angeles to discuss his invention is none other than jim kor himself welcome to them how are you hire thanks for having me on the show now first and foremost how did you come up with the design for the erbitux. there's only one irby one but the second one we started in february but the first car we started in one thousand nine hundred six a long time ago and our goal was to design the greenest possible car in the world that was our basic goal now why was three d. printing so crucial to this project. well actually it wasn't crucial at the very beginning and we just three d. printed the first body because we needed

a body and we had it in the computer so i can show this model we actually three d. printed this model and that was very routine for design firms to three d. print. at this level at this scale what was unusual is that we three d. printed the full scale body wow now i have to ask how difficult was it to design the car for three d. printing. not not difficult at all actually it's just a matter of scale what was unusual is that we made the these body panels the same computer files that made the model made the large body parts it just took a lot longer and it was unusual at that time to do parts this be what we're doing with herbie two is kind of unique because they're there we're designing just for three d. printers and trying to use them as production parts as the part finished parts that go on the car and that's called additive manufacturing and that's gaining some

favor in the industry now is this street legal. the orange car is not street legal because it's a first prototype and we have had it on our sanctioned racetrack or with insurance and all that but the second car though which will be white irby two will be completely street legal i yeah i don't see any spot for a license plate on the docket. oh you. know there's a there's a spot here there's a license plate here there you go there you didn't understand it now can you talk about the environmental impact of potential mass mass production of these cars. well car i can cars it's one thing that worries us right now there is a boat in round numbers about one billion cars in the world and when my two boys that are now twenty two and twenty when they're my age some believe there could be two point five billion cars on the world in the world so how these cars are

designed is extremely serious business and we feel that they need to be smaller they need to be lighter they need to use less energy and they need to run if at all possible on renewable energy now given the fact that it is three d. printed it begs the question how economically efficient will it be to mass produce the car well that's a that's a great question right now you know there are there are sections of the industry where it is economic to make production parts with three d. printing and i'm talking about dental hearing aids aerospace typically where there's either there are small parts or there's lots of tooling we're not suggesting that every part that we're going to do in the second car is going to be economic but we suspect that a lot of the pieces will be because the industry is changing it like it's the costs are coming down that's that's just a given and we're going to design in

a certain way that should prove in some instances quite economic do you believe that three d. printing will transform the automotive industry and i mean i ask this knowing that the problem with three d. printing it's how easy is it for someone to copy your design. well well it's three d. printing of course file is digital so it's extremely it's like when the music industry went digital or photography went digital you know there has to be a huge amount of changes there just on the control aspect. but i am reluctant to predict the future because i haven't been good at it in the past but. but i would suggest that i'm pretty conservative as a designer as a design engineer and it's because i've gone through these three d. printer shows with the car i've gone to a whole bunch of them over the last two and a half years and those three d. printer shows just blow me away when you see what the artists are doing with the

aerospace industries doing what various industries are doing with these machines. and our sponsor is stratus and when you see what they are their machines are really reliable and durable production machines now and so so to me i think these things are coming together and i do think it will transform manufacturing in quite a big way you know in the car it certainly does have a futuristic design and it's very a statically pleasing but i got to ask how do you balance form versus function in the design of the structure. everything you see on the car was designed to reduce the energy right at the tire where the tire hits the road because you've got to get that energy down low enough that renewable energy becomes practical so the the body is a about as aerodynamic as we can imagine it's has been it has a coefficient of drag of zero point one five previous has a. number like point two seven the lower that number the better. and then so

we did it first aerodynamically and then added you know as many lines to there were two industrial designers on it so they they sort of stylize that after the ergonomics were were perfect and that's how the car came to be ok now i understand that you're planning to take the irby across the country i got asked what is the motivation behind doing this. well. you know we're a small group of designers and engineers we don't have any marketing in our group to speak of i mean we have some people helping us because we need help but the main purpose was to demonstrate that the car is practical. practical as a highway vehicle and then on the way back we want to follow the ratios original drive in one thousand nine hundred three forward exactly to show that in those different cities that it's also a good city or so it was more just to prove what the that it's practical that it's

street legal that it has safety built in and that it can do this trip on very little fuel now we're running out of time but i want to ask you do you see three d. printing changing not only small business but entrepreneurship as we know it today . absolutely three d. printing allows designers like ourselves to design things and then to actually make them without tooling tooling you know in any industry is a huge roadblock for small companies and that's that's what three d. printing for sure is changing at the entrepreneur level you can kind of get something made quickly and even sell it. because these three can make production parts i'm sorry to cut you off jim it's fascinating but we got to go that was jim kor the man behind the first three d. printed car time now for today's big deal.

big deal we're starting off with chip wilson remember him no news that charming fellow and shall we say opaque former chairman of lou lemon who made these choice comments regarding the bodies of the women who dared to draw on his yoga parable apparel. was just forty four. percent of young and older so more likely will be fewer in some women body you know and i don't really want to probe into this was looking through the thought who gets richer occurs is here as always and rachel wilson he built we women into a multibillion dollar company and now has to resign because he said these things the question is why on earth would he opened up his mouth and ruin his billion

dollars legacy on the head of at the helm of this company i mean why did why does anyone say anything stupid on t.v. i don't know there's a lot of pressure when you're you know in front of these lights to say that he was an art and you will say what i say today no but he you know who knows why i said what he said you could tell his wife as soon as it came out of it's about that's kind of like. well you know our. immediate leave that what he said was going to get picked up especially today you know people are call me any media appearance to figure out of anyone saying something even slightly offensive so i don't know why he said it but it was clear as soon as he said it almost immediately by you know alienating it so much of his customer base that he was going to be shown the door and now speaking of coming media for offensive things this got us thinking about other titans of industry who saw their businesses suffer thanks to similar foot and mouth moves and here are some of the more memorable verbal blunders check it out. girl that was my age at that point particularly back in the seventy's i can think of two that actually were actually stored. with me within four

years by nine hundred eighty right when i was getting ready to launch they both got married they both got married and then they both had which is as big of a killer as divorce is they both had children and. is that baby's lips. girls forget it. i mean even if you don't care about gender issues something. a bit harder we also have a lister abercrombie and fitch is michael us geoffrey's he bausch plus size customers a few years ago nestle's chairman peter brock back let math he's just hates everyone and talk about water not being human right wow wow chick fil a president and c.e.o. dan cathy made his anti-gay marriage feelings very well known now rachel begs the question if the words you say are bad for your business and you can't help yourself

from saying them are you bad at business well that's the question because the question is whether someone is a jerk you could still be a really good business person we've talked a lot about people like lloyd blankfein who great the fact that they are kind of a jerk to other people actually makes people think that they're more legitimate business people it depends entirely on the industry and we talked about steve jobs someone who i think the best thing he did was brand himself screw the i pod the best thing he ever did was show himself as this titan of genius and the fact that he was in seemed to show that he really knew what he was talking about but when you're actually bashing your customers rather than treating him employees or people that you might work with their source information from right when you're starting to bash your customers the people who are actually buying your product that's when you're going to have some issues and alienate people and yeah that would make you a bad business person if i might have screwed. but he didn't bash them publicly that's all we have been having you can see all segments featured in today's show on you tube or you tube dot com. we love hearing from you so check out our facebook

page facebook dot com slash them by starting from all of us here boom bust thank you for watching c.n.n. stand by. i think. the really. good you know the prize is the only industry specifically mentioned in the constitution and. that's because a free and open press is critical to our democracy schreck albus. role. in

fact the single biggest threat facing our nation today is the corporate takeover of our government and across silicon we've been hijacked why a handful of transnational corporations will profit by destroying what our founding fathers once told us i'm tom hartman and on this show we reveal the big picture of what's actually going on in the world we go beyond identifying the problem try rational debate in a real discussion critical issues facing america if i ever feel ready to join the movement then walk a little bit of. wealthy british style. at the time to try to find.

markets why nothing else can do. find out what's really happening to the global economy with mike's cars or for a no holds barred look at the global financial headlines tune into kinds a report on our. world from the. science technology innovation hall believes developments from around russia we've gone to the future covered. mission to teach me. why you should care

only. washington saying it's considering sanctions a crane. to defend. the president's. speech to parliament specifically time to coincide with the twentieth anniversary of. having secret meetings break through new. countries highly frustrated.