increase in the number of people seeking treatment for addiction to prescription opioids invented america under the banner of medicine persisted with the pain but instead of trying to wean him off though she did those after dose after dose after . and really became his drug dealer who's to blame. manufacturers. welcome back there are few industries in the world harder hit by the credit virus than the travel and tourism sector without question 2020 will go down as one of the worst years ever for the industry but in reality we're only in august and still have a wong way to go already the effects are being felt in fact the hotel industry is warning that as a whole they are facing an absolute economic disaster in

a desperate plea to congress submitted this week the industry claims that nearly 25 percent of all hotels in the united states are at risk of foreclosure simply put those hotels have loans that are at least 30 days delinquent or longer at the end of 2019 the same number was 1.9 percent of hotels and this is just the beginning so joining us now to discuss this boom bust co-host and investigative journalist ben swan and travel expert from money we have dot com barry choi thank you both for joining us today ben i want to start with you can you give us a rundown quick of some of the other aspects of the travel industry struggling right now. yeah it's kind of like a pick your poison kind of situation right now it doesn't matter what part of the travel industry you're in right now things are going very very poorly you have the airline industry quantas airlines out of australia saying that for this last year of this last fiscal year that is they've actually lost $4000000000.00 in australian dollars in terms of revenue that's about $2900000000.00 u.s. dollars and they say international travel for them will not resume until the middle

of 2021 the middle of next year you talk about the cruise industry you know the cayman islands saying that they're not going to allow international cruises to come in to the cayman islands until at least after december 31st of this year so it doesn't really matter what sector you're in everybody's taking it on the chin right now barry there are destinations like bali that plan to reopen the tourism by september but overall are people actually traveling right now and will tourism pick up again this year or is everything going to shift to 2021 or is it going to be 2022. i think it really depends on where you live regardless where in the world you are i think domestic trouble is that they yes thing right now obviously mainly just because of border closures you know here in cannes i can only go to certain destinations u.s. citizens can only go to certain areas but if you can stay domestic there's definitely an opportunity to travel and the interesting thing is a lot of these countries around the world they've got their best laid out as ali was trying to open out later this month they've already had

a delay are through the caribbean early so i can cope and i had the greek lows of borders so i think a lot of these countries around the world are see what other countries are doing especially in europe and asia and trying to decide what is the best course is actually what he said maybe that's just you know recalculating maybe focused on 2021 ok some domestic and just hope for the best for now and now but i want to go back to the airline industry now we know that smaller airlines worldwide have been struggling is there any sign that things are getting better for airlines especially in the u.s. where congress would have already given them a bailout. well congress to give a huge bailout to airlines as you know and the reality is that bailout actually had some strings attached to it which is that they could not layoff certain workers and they had to continue to provide service for customers up until a certain point that certain point september 30th well as of october american airlines has already said they're now going to cut flights to 15 different small cities across the u.s. because starting in october they're no longer bound by part of that $25000000000.00

that they received you know in part and so i think that's one of the issues that we look at whenever congress comes in and bails out these these companies they do it to extremes to it but as soon as that time runs out it's customers who are left waiting now and so we don't you don't necessarily blame the airlines for the decision that they're making they have to make business decisions here but it's bad for customers all around and then we look at airlines around the world you know smaller airlines like over in the u.k. you have easy jet and ryanair which both right now are struggling and don't even know if they're going to be able to stay in business at this point i don't know barry you being a travel expert you also deal with personal finance i assume you're dealing with people regularly what about these airlines begin to cut these routes because if air travel becomes more complicated for travelers won't that simply weaken the willingness of travelers to use them what i'm asking here kind of is are airlines about to find themselves in a very vicious cycle. definitely but in the end it comes down to business decision you know they've got to remain profitable and if they're finding that the smaller

destinations smaller airports are making the profits to have to come in you know everyone talks about government sanchez you know they've been held out to a certain extent certain conditions that when that money runs out they need to think about their autumn life so unfortunately that means people who are in the rural areas the small airports are going to be cut out at the same time maybe that means airlines can consolidate at their major hubs and refocus you position their search carriers and focus on routes that will be profitable right now though where are those routes going no one really knows based on their courage probably should say even if you want to travel you've got to know what any court. laws that exist in other countries are returning all and what local regulations that are currently in place i mean air travel seems to be certainly complicated right now and it may be bad there is one silver lining for the cruise industry is that a new survey shows that the vast majority of past cruisers surveyed say that they plan to cruise again before the end of 2021 that's some good news right. well it is good news certainly for the cruise industry it demonstrates you know that

a lot of people are anxious to do that again in fact that number is 86.6 percent of those surveyed said that they were going to cruise again before the end of 2021 what's interesting also because of buried in those numbers when you dig down on them though is the fact that those same majority of people say they do not plan to fly to the destination to get on the cruise they would rather travel in a different way or take a cruise that's closer to where they are rather than getting back on an airplane so i do think you know through all the talk of what it means to create safety protocols and just traveling in a safe safer environment is also somewhat of a turnoff to people because there are so many hoops that they're jumping through in order to travel and so the fewer steps you have to take in order to do so it seems like that's where people are leaning very what are you seeing with the cruise industry because it's kind of a self-contained vacation you go get on have all your restaurants you have all your detainment all of that taken care of and the people who like cruises as we see from that survey really love cruises what do you say in there. you know i have to agree

with the survey i talk to anyone who loves a cruise and they're they can't wait to get back a lot so with the cruising industry they're basically going to have to appeal to their core audience to move before they want to make sure this audience these customers are going to feel comfortable republican and on to their careers and what would that mean social distancing or maybe implementing marketing as far as new customers are concerned they're probably like putting them on the back burner right now they realize it can be very difficult to attract so they're probably not to put a focus there so they're really working just on that we're going to sit around and rebuilding their brand after all the negative press they had because a cold 1000 travel expert barry choi co-host ben swan thank you both for joining us today. and fired me are you one of those people who feel overwhelmed when you watch your favorite streaming site do you generally spend more time sifting through titles that you actually spend watching content or. actually me right there and if you're like me you may be in luck as tech crunch has confirmed streaming giant

netflix is testing out a new shuffle play feature now according to reports netflix will look at what you've watched in the past as well as things you have saved on your list and decide the perfect fit for you might even grab a random episode of a show you watch regularly now there weren't any broader details on a roll out of the program to come but the company did tell the burj we run these tests to different countries and for different periods of time and only make them broadly available if people find them useful and that's it for the casual bus odd to buy another brand new portable t.v. app which spilled on smartphones and tablets through google play and the apple app store by searching portable t.v. portable t.v. can also be downloaded on a newer model samsung smart t.v.'s as well as roku devices or simply check it out at portable t.v. we'll see you next time.

i'll look forward to talking to you on. that technology should work for people. i really must obey the orders given a human beings except we're such sure there is a conflict with the 1st law. just a patient we should be very careful about artificial intelligence and the point of view c. is great trust the shia. areas and with artificial intelligence will some of the. the obama's protect its own existence was an excuse for the.

tax guys or financial survival to stacey let's learn about feel out of let's say i'm a troika and here please i'm greece of the fight well street fraud thank you for. the story that's true if debt slavery. so what we've got to do is identify the threats that we have it's crazy going for him to let it be an arms race off and spearing dramatic development only personally i'm going to resist i don't see how that strategy will be successful it's very critical time to sit down and talk.

seem wrong. role just don't hold. any new role to be yet to shape out these days to come to educate and gain from an equal betrayal. when so many find themselves worlds apart when she's to look for common ground. there's a world of hope of a global solution to the little. i was lonely as a name for the. most of. the

. world those those are going to. use the book with this goes to the government of those that would use of these are the 1000000000 users but. of course. this is boom bust the one business show you can't afford to miss i'm french born in washington it's labor day in the united states so we have a special show for you coming up at 6 o'clock you're facing a ban in the united states we spoke with one of the top content creators on the platform to discuss just how this will affect those that make tic-tac what it is and which he told me off at the end of the high travel season if not for the covert

19 pandemic but we got some expert analysis on the state of the industry and how it surviving with a packed show today so let's dive right in and now for the latest in the ongoing saga involving social media app tic-tac as we previously reported president donald trump has said he will ban the app in the u.s. by september 15th unless a deal can be made for microsoft or another american company to purchase tick tocks u.s. operations one point that has confused onlookers is the president's contention that a portion of the purchase of the app should have to go to the treasury now white house press secretary kaley mcenaney. i was asked about this on tuesday but offered little clarification so i'm not going to get ahead of the president on any official action but he has made that point and he and the secretary pompei i've said that the u.s. accede to the us will take action in the coming days and chinese apps including tick tock tick tock scuse me due to the national security risk and we all agree that there needs to be a change especially with collecting significant amounts of private data on users

it's unacceptable now meanwhile president trump himself spoke to reporters on tuesday and referenced the overwhelming popularity of the juggernaut app. is very successful it does tremendous business in the united states people are riveted by it i mean i have many friends when they saw that announcement they're calling i think their kids love it they don't because it will get to see their kids anymore but they are it's an amazing thing whatever it may be. this week we have discussed the cyber security issues as well as the business implications regarding the situation with ticktock but this all raises the question of how will this move affect those who make tick-tock what it is and that's the content creators so let's go ahead and bring in one of the top tick-tock influencers zach king into the show exactly you so much for joining us we really appreciate it today so now i want to start with what the president actually just talked about there it's a highly popular why has tick-tock been able to open that door and become so

popular especially over the last 12 months here in the united states. i mean you know as an influencer on. really in this industry for the last 12 years you know i've been on 6 talk since it was musically 5 years ago and so for us the rise wasn't even in this last year that's made it successful i mean there's been a lot in the last year but what they've been doing from the beginning i just a couple years ago was there out there that made it so powerful and that it levels the playing field for anyone who wants to who has a stone and can make a little fun story or a joke or do a dance or whatever it may be there's a ton of different ecosystems and creators on the internet on tick tock but allows anyone to have the chance to go viral on a totally different level that's that's bigger than we've seen possible with you tube that's bigger than we've seen instagram and by an event so that's why it's so exciting and i think that's the drop not only is it you are but i'm especially for those viewers who are trying to concentrate on the l.

because that definitely as a as a viewer of tick-tock even if you don't create your own content it's very consumable so if you're getting a short video it's got a lot of them are music and dance so it gives you something to not only watch but listen to is very enjoyable in that regard now when it comes to this potential purchase from microsoft do you have any concerns about the control of the app changing hands to a different company or an outright ban for that matter how is that going to affect to become tech creators. so the 2 main options that are present on say we're now are then we should be a bummer because there are so many people who love the app to talk but also because there's content creators and i'm not even talking about the content creators like myself who have already kind of excuse the charlie that it's in the expand it beyond that there's a lot of creators not yours but it's really not the small kind of the some of the just starting creators the budding creators who just you know last couple months were getting out runway they had moments of growing their audience and then it's going to be shut down the banner be terrible but also they had lost to

a company like microsoft or a tech company. at least i think he'd see a receptive audience to talk to me would be probably thankful that microsoft took a look at the security concerns and then check the apple live but the other concern in that bucket is and you merged the 2 managements and cheap tick tock innovating to to grow that success even beyond what it is today that would be the question we're facing but at the end to your initial point on the 1st question there which is if they happen to adjust the algorithm in some capacity and then they push the bigger tick tock stars over people who may not be known that can create a problem for people trying to break through in the industry and i want to talk about those people because like you said you've diversified you have millions of followers across instagram you tube a tick tock and use not started but you were on vine when it was very popular but saw that kind of go away what or what do you kind of give it as far as help to

other influencers who are just starting to build on take that what would you tell them to do as this whole situation is happening. while i was talking to other people that i meet on the way in the same journey as i make sure you're diverse i know your audience from the get go on the very beginning i mean not right away but once you have a decent 10000 or are people on you i met that can really look at your stuff and find creative ways to get their e-mail contact because they're going to want to hear from you directly or there's a lot of services now that do text messaging but the goal is to have a direct connection to a small portion of your audience which is the most dedicated and loyal portion anyway and that's you know how it's already a little too late to do that now with a month left but that's something from the get go i think creators need to be thinking about how any platform you have on instagram facebook for you to you know how to direct connection years ago you know it was amazing reach and then when they

put the paper on front of it you know one percent of our audience must for the rest of the coast so. they have something you always have to think about in this case and now it's to graham is officially launching their tick tock competitor in more than 50 countries they actually watch that wednesday including the us what do you make of this new platform and could this actually kill tick-tock while the app is in limbo as a lot of content creators might move to rails where they can actually make that that kind of impact of their. day intersection of all this timing is fascinating to watch there's a lot against to talk and and with the timing of instagram reels coming out it could be i'm another moment like you saw a snatch of how instruments swooped in perfect time did their version of stories and it was very successful because everyone you know when you hear there's concerns of privacy i mean your your tendency to be going back to you you already know and where the tension is in the past and if they have the same features i can be an

easy transition but in this case i think you're also trying to replicate a culture which you can't just do with one feature i think there's other things that she is doing in terms of course means content creators even starting their fund to help monetize young creators it huge something that instagram still really has yet to do and of we're waiting for so i don't know if it. the new real speech or will just swoop in. that powerfully yet but time will tell it really well it depends i think that day it's a temper 1514 at the band if it actually happens then i think you'll see a lot of momentum behind reels and i guess for our audience who maybe doesn't understand content creators slash influencers quickly can you tell us how this monta zation works and how you guys are able to make money i mean not on your level maybe but on some of the smaller levels there. yeah i mean it's a really simple game play model with brands on you tube you have example roles play

the beginning the broadcaster middle and we'll get a piece of that 50 percent of the ad revenue for those ads but then the other stuff is going out for brands that you're passionate about you know for example i'm really passionate lagos and credence in anything that. it's imagined and that's what i want to partner with so take me for example partner with a company like lego and what brand you look like. create a 62nd video in that case and that would be a piece of our monetization tick-tock of social media stars that can we hope to have you back thank you so much for your time today. and regulators have delayed a ruling over how much if anything to find twitter for its handling of a data breach disclosed in 2019 now twitter was set to become the 1st tech giant to face a fine from ireland's data protection commission after the body submitted their decision

to member states in may but some regulators objected to ireland's initial ruling which will cause a broader group of regulators to seek a majority decision as part of the use general data protection regulations rules introduced in 2018 regulators can levy a fine for violations of up to 4 percent of a firm's global revenue or 20000000 euros whichever is higher now the initial issue stems from a bug in twitter's android app where some users protected tweets were made public and the company's failure to notify authorities in a prompt manner. and meanwhile facebook is already settling one multimillion dollar lawsuit over its illegal use of facial recognition technology while its other social media platform instagram was just slapped with another massive suit over the same issue both cases were filed in illinois one of the 1st states in the us to pass privacy laws that protect consumers from invasive technology legal journalist molly barrows contributor with america's lawyer is following the story and she

joins us now to discuss 1st of all molly we got to get to the bottom of this what's the gist of these lawsuits. i know what they're both over the same issue but these are 2 distinctly different lawsuits although you know instagram is owned by facebook so facebook just last month agreed to settle a lawsuit in its preliminarily approved for about 650000000 basically they were accused of using that facial tagging app to illegally harvest data and collect it so they were sued over that they're working on a settlement now in the 2nd lawsuit again instagram is the one facing this one and it's pretty much very similar basically they're saying that they used biometric collected biometric data using a similar face tagging tool and are collecting it in harvesting it both of them accuse the boat they're accused of doing it without people's permission doing it without their consent which is why they went to illinois because they have a law that allows them to do that and that's why both of those lawsuits were filed in illinois so it's interesting there are some similarities to suits but there are

definitely different now what are the concerns surrounding the use of facial recognition technology especially when you're not talking about something like infringing on your rights in a legal standpoint you're really just talking about the use of it inside of an app to what they would say makes an ease of use situation. exactly and so that's really a big question for a lot of people that follow all of this gathering of tech for instance you know you go on facebook especially during coronavirus we saw a lot of people sharing and playing that game of. you know post your picture now and post a picture through throwback way back when of you in high school or when you were a kid and it turns out the more i looked into it that actually helps them gather their biometric data if they can compare the way you once looked the way you look now they can start to tell the differences the nuances and of course they'll sell that information is being useful and is like oh it's easy to unlock your phone this way the facial recognition act is a security tool and we heard about you being used in airports and we certainly want

to dennis i people that are on no fly lists so i don't think anybody really has a problem with the fact that it could be useful and helpful but the real problem is what are the big bigger implications as to how this data is being used there's so much of it technology is growing by leaps and bounds and they have found flaws in the system there's not a lot of federal regulation some people are being misidentified and there's biases inherent in the system as well i mean there was a study done in fact of they tried some new facial recognition software brand on members of congress and it miss recognize that actually accused of false number of the people that they studied as having been arrested and most of those that were accused of being arrested which they hadn't been were minorities so there's some inherent concern about bias being in this data collection and just not know enough about it so if you have facebook and instagram collecting all this data and supposedly using it for your convenience there are laws which is why they went to illinois the biometric information privacy act they're much more stringent they're saying hey we don't really know what you're up to but you can't do it without users' permission unless they gave you permission that's

a no no that's why you're seeing those suits file in illinois you know facebook has preliminary approval to settle the lawsuit it faces for $650000000.00 could face up to $500000000000.00. dollars related to the other class action lawsuit or fines like this is actually going to hurt the company. i think they look at it like oh what a shame you know really is just a fly on a wedding cake you know i'm not sure that it really makes a huge difference in the legal bills are tremendous they continue to face other friends in different places. but you know they made 18000000000 facebook made 18000000000 in ad revenue in their latest reportings quarter and so i don't think 560000000 is going to be it's just a drop in the bucket compared to what they are be making but it is one of the reasons actually that they ended up this preliminary settlement was settled with the court he said 650000000 they had to raise it another 100000000 because the judge was like look our law says you could collect up to you know 80025000 per person you're not even coming anywhere near that and anyway that's why the

instagram class action lawsuit the different one but that's why they could potentially rake in like 500000000000 because if they got the maximum amount that's provided under illinois law they could really rake it in but that's not what happened for instance in that other settlement with facebook that they're agreeing to so they recognize that there is value to your data and so that's just a matter of trying to find a number that is significant to the consumer but these companies are making so much money is it ever going to be significant or a deterrent to them if they are up to no good i had doesn't seem like a week you continually see this with molly barrows contributor to america's lawyer thank you so much for breaking it down. thanks to. time now for a quick break here because when we return the travel industry has been one of the most impacted by the coven straight ahead we get some expert analysis of what's going on.

vestments have become bills to economic development. most people think about trade they think about goods and services being exchanged between countries and the investment chapter of a trade agreement as opposed to something very different but won't when investment leads to toxic manufacturing that destroys secrets of the environment. that means local communities that are being poisoned if they object if they do anything that the company feels is interrupting their profits they conducive. multinationals are taking on the whole nation philip morris is trying to use yes yes to stop tour of the white from implementing new tobacco regulations aimed at cutting domestic smoking rates a fringe company sued egypt because egypt resists minimum wage democratic

choice. to join us as we try to fund. we're entering into this strange space you know i think about in the ninety's in the beginning of perpetual copyright and so are copyright essentially laws become perpetual and intellectual creativity is dead and to a large degree now after petrol live at home so the dynamism that would be coming with new household creation is dead and to a large degree we have perpetual all money printing money and money. so we have this deadening of economic growth because the printing money keeps the zombie companies in those banks alive so we're we're basically burying ourselves them for temper. but you would be.

in the headlines shoes to lunch time russian opposition activists alexina vile needs out of a coma but no prognosis or proof from doctors of his claim poisoning still the at the kremlin is already being blamed with pressure to ditch you gas project. headline into saudi arabia commutes the death sentences of those convicted in the 2018 murder of journalists. rights groups are outraged noting those who ordered the killing aren't being punished at all. thinking of the day off. and the vast number of disgusting.