and i'll be speaking to us of the world of politics or business i'm show business i'll see that. this is a boom bust the one business show you can't afford to miss some branch of foreign washington coming up we have a special show today breaking down some of the impact the copen 1900 demick has had across multiple sectors plus so much of our lives have moved online because of the copen $1000.00 pandemic could we see the term internet celebrity take on a whole new meaning and later time it says it has a limited poverty nationwide when you take a deep dive into how they accomplished this amazing feat we have packed show today so let's dive right in. during the coven 1000 pandemic business has suffered due to

lock downs and social distancing measures that have changed the way of life over the last several months here on boom bust we've covered numerous sectors that have taken a hit and those that have had to completely change their business model whether it's the food industry retail sports or even the movie business everyone has had to adapt so we thought it would be a good idea to bring back some of the expert analysis breaking down the pandemics impact we start with the impact on the restaurant industry with andrew zimmer for time james beard award winning t.v. personality chef and activist. there are operators and they've been well documented who have made the successful pivot and because of the nature of their business the set up of perhaps multiple units of the same city block or other advantages that are built into their own businesses they've been able to make a go of it doing to go and delivery foods 99 percent of the restaurants it's merely a drop in the bucket and it's not

a long term viable solution you can only bring back a small portion of employees you're in most cases not even able to cover your rent and your fill of these a lot of restaurants are doing. it go and delivery service and community resource kitchen work as a way to sort of stay relevant stay open stay in front of their customers and be visible in the public square and it sounds like and i want to go right to the idea of reopening here because it seems like this really isn't going away and things are certainly are going to return to the full normal for at least 18 months right so what is it going to look like when these restaurants do start to open back up i mean there's got to be some concern there that just customers alone are really going to want to go sit in a crowded restaurant despite the idea of actually being able to get out there and then also have all these employees and food and everything is a concern that restaurant tours are having right now. incredible concern restaurateurs themselves in general are the most caring and considerate business

owners that i know of remember these are the people who like 1st responders rushed in when the towers fell rushed in to post katrina to feed people restaurateurs don't get into this business to get rich they get into this business because the magic that they see that happens when 2 people sit down over a plate of food in their eatery and what they're looking at right now is a situation where they can't even take care of their own employees safety let alone then be able to bring guests into the restaurant it's going to require. reorganizing the internal infrastructure of the restaurant how employees enter the building how the actual physical line set up is how food is passed from area to area before it goes out the door this is the difference between doing to go business you know 1520 percent of what your total was and being fully open for business on a weekend evening in a restaurant we're seeing a change in black friday due to the pandemic and stores want to avoid crowds what

are some new trends that we're already seeing for the black friday this year. well there are 3 aspects that will make this a black friday i know either. first me online shopping has exploded 2nd play the seeds and his blanket and tell shopping and thirdly retail is innovative and agile so on the on line explosion as the pandemic began and 90 percent of consumers change the way they shot 40 percent of people over the age of 60 tried online shopping for the very 1st time and they just loved it so far holiday that means 90 percent of consumers intend to shop online with 70 percent of them expecting to do most of their holiday shopping on line for black friday that means that just under half will shop on line for thanksgiving and just over half will shop black friday so this makes a difference even said this isn't sure i love her this time it became an amazon

prime set the pace by maybe prime day in talk to her that hold consumer holiday spending forward and retailers no longer have a season the more revenue the major retail spots with black friday deals offered very early deals for days like wal-mart is a great example of that 68 percent of consumers intentions shot earlier this year and the innovation in retailing is rampant wonderful touchless retail touch books check out. virtual reality for dressing rooms all has changed the face of retail will be for black friday what has been the financial impact of the profession of professional football here we're seeing games being moved around quite a bit they in fact they changed their whole schedule up just last week plus we have a trickle down issue as fans are in the stands so there's

a is it money being made in the stadiums as well as small businesses around the area what are you seeing here. well so all of the big leagues were hoping that they could they could maintain maybe 60 percent of their total revenues if they were able to come back at least on t.v. even if you didn't put any fans in the stands so if you look at the n.f.l. they're about a $12000000000.00 company and that includes about $6000000000.00 of media rights some sponsorships and licensing so even if no one's buying tickets or no one's buying parking or hotdogs they can still generate a ton of that money the question is whether they can to that all season how that's going to affect obviously how they share that money with the players and of course it's a it's a gigantic hit for everyone involved players owners and of course the regular workers who work as authors as concession people and as as bartenders and servers and local restaurants for a big program like ohio state

a sensually the finances of the athletic program are completely separate from the finances of the rest of the university and while $100000000.00 is big that's also less than 5 percent of the total operating revenues of a large institution like ohio state that being said cancellation of football is absolutely devastating to that athletic program for a large power 5 conference the outcry was states the clubs in this be alabama's of the world they generate over 80 percent of their money on college football but with by filling up $100000.00 person stadiums and by selling huge amounts of media right if those games don't get played you have to if they figure out how to plug a $100000000.00 hole hundreds of millions of dollars it not just go to lavish football that soltys but also go to fund a women's soccer men's tennis. golf swimming all of the other things that the

athletic programs work and this is a real case where you know the haves are actually hurt a lot more than the have nots. i want to start with this news about wonder woman 1904 hitting h.b.o.'s streaming service the same day hits theaters how is this a win for warner brothers when they were banking on a box office smash after the success of the 1st film but are basically giving it away to people who are already paying a fee. i know that it's just we were hoping that wonderwoman would just go theatrical 1st and then have a window that at least 2 weeks maybe much longer just wasn't meant to be with so many movie theaters closing this past weekend for example or cons for data we lost out of 700 theaters so the previous week we had 48 percent of the years open in north america and the most recent weekend 40 percent that's a huge drop and i think for warner brothers they just had to bite the bullet and say look we got it get some income coming in from whatever stream we can whatever revenue stream and a way to get h.b.o.

max to raise its profile and get a lot more subscribers is to put in a movie like wonder woman 1904 on the platform but of course exhibitors were hoping that that would be at the actual only play but we're living in a very different world now where when there's so few it theaters limited capacity in those theaters they could wait months and months for a movie theaters to come back but they chose to use this sort of hybrid model i think we're going to see more of that but i think when theaters do come back we're going to have a blockbuster season again on the big screen but for now it's a different era it's a different party much it's up about it is very interesting you said they hope to get more subscribers from releasing this now we've seen some of these movies been released on streaming services over the last what months or so have we seen any actual uptick in subscribers due to those or if that does it's kind of anecdotal and hard to see or. that's really interesting because you know the transparency

that exists within that the actual box office world the big screen movie theater box office which i've been tracking for 30 years now it's always there the numbers are always released almost hourly of course the weekend numbers but for the streamers it's a little tougher to get those numbers and remember a subscription based model. it's quite different than a transactional model where you might sell one movie for $20.00 or rent it for $8.00 whatever the number might be whereas with something like max or never legs or hulu it's more about that subscriber base disney plus as well. in a world of social media we've all become accustomed to influencers who work on behalf of brands whether it's traveling around the world or promoting of the brand influencers have been slowed by the quota virus pandemic which is halted travel to all together now amid the pandemic brands moved away from human influencers moving

instead to virtual influencers who have no restrictions on where they can go and who they can be around because they're not real back in august we broke down the new trend with co-host christine and ben swan. now kristie we have seen creations like 19 year old kayla released music while going through a carefully scripted drama that kept a 1600000 followers riveted what do you make of this trend and who is leading the way with it i think that is such an interesting trend right now and the mckayla was an experiment that proved that you can really blur the lines between what is real and what isn't and that's really just the beginning because one potential extension to little mckayla would be to move it to a social network where then anyone with an i phone can create dress and promote their own personal avatar kind of like a big moji type of thing and this is has tremendous value for our brands as the distribution of these influencers they would have they would not have the same costs and be substantially cheaper than the real life celebrity and this kind of

reminds me of that black mirror is episode with with miley cyrus and rachel jack and ashley because as you know by khmer always chooses to portray controversial current issues and explore the possibility of it taking a really dark turn so if you remember and that episode the real life celebrity became too difficult to manage and then the manager is the record labels they chose to create a hologram out of miley cyrus you. her voice and her likeness in order to tour the world and keep her positive influence on everybody one in reality she was this dark crunchy teenager so this technology is very similar to that and it has proven now that it can win the hearts and minds and adoration of fans worldwide despite the fact that it really is not real so from an industry perspective it has he's potential that you no longer have to deal with the dark side of fame all the scandals that come along with it all the lawsuits that come with the big egos the falling out and entanglements and take house so while this new category get explored in the fashion industry the fashion industry is deafening going to be the

leading this entire trend as this is about the perfect mechanism and the perfect leg up for the fashion see that's all about perfection the perfect image and everlasting you know it's interesting that you mention the black mirror aspect because as a team when we were all in one place talking about the show and we would come up with new tech stories that we wanted to do we would always make that point was there a black mayor episode like that that's exactly what's happening right now but what do you make of this new trend is it covert centric or will this last beyond the pandemic so i think. every time there is hope it will last beyond the coded pen demick but i am going to take the alternate point so what christy saying which is that there is a reason that influencers are influencers and the reason for that is because people look at these real life you with beans and they say these are people who actually use products and actually even though they don't write they actually use products and they actually are involved in these things and so they're telling you how real life situations adapt to these real products the problem is with these avatars

essentially that's what they are these fake human beings these virtual human beings they're not real these are not real people using this so with what essentially it is is it's an ad for telling you to believe this fake human being when they say this is the way they travel this is the way to live when you're traveling and in. stead people want to be able to rely on an actual human being who says trust this particular product or trust this particular method and i think that's what's missing here is the human connection that says there is value in this person now better one of the most popular virtual influencers is liam to coro who is has almost 15000 followers on instagram not that 1.6 now you know we talked about earlier he is the virtual guest of the washington wizards in the n.b.a. bubble in orlando this is in this case isn't it kind of fun to have a person who can appear in spots where many fans can't be there's photos going around of him on the court basically during

a game i mean what do we see there yes so it's really interesting because the lady in the condo 'd as you said essentially appears on the court while john as. is essentially dunking right he's dunking the basketball and you look in the background and liam is standing there with his hands in his pockets watching this happen but that's not real right and viewers know that's not real he's about $15000.00 followers but i think again the real aspect of this is for those kinds of things or for the ad the charges essentially uses colonel sanders going around the world almost a parody right now of what it looks like to be an instagram influence or those are very interesting they're funny people laugh at them but there isn't a reality issue here and when people buy products they want to believe that other human beings are telling them this thing is valuable and and works and otherwise even though it's fun right now i think people will look at it and say in the long run this is ultimately just propaganda we're not actually seeing what the product

really does boom bust co-hosts and the boom bust influencers ben swan and christiane thank you both for your time. and time now for a quick break but hang here because when we return china says it has a limited poverty nationwide we're going to take a deep dive into how they conflict such an amazing feat we'll be right back. christmas special well the away santa that's it away for because the future is here now and it's glorious. in the movie version the scientists are all they understand everything before they even begin to look at it that's not what really happens what really happens in most of the time scientists are very confused about most things and they're not sure they spend most of their time trying to be less confused trying to become

a little more sure. it will come back in november china released data indicating the country has a limited extreme poverty nationwide something the nation's ruling communist party has said as a capstone of its policies meant to eliminate inequities we spoke to blue bus co-host ben swan and professor richard wolfe host of economic update and author of the sickness is the system what capitalism fails to save us from pandemics about the breakthrough. that's what i want to start with you here poverty elimination by the end of the year is a key facet of the communist party goal to build what is termed

a moderately prosperous society ahead of the party's 100th birthday in 2021 how do you perceive this announcement that they have eliminated extreme poverty. well that's the catch the one as you rightly say of some pretty good been saying for quite a few years they've meant to do it they have given documentation you know the era of the county inside china that had gotten to the standard of at least no poverty or no extreme poverty you know we used to be skeptical about chinese sticks like this but we've learned over the last 20 years that turns out they're mostly were correct you can't fake it for very long other statistics undercut your claims if they're not true so i think this is probably the case and it's a testimony to what this does society has been labeled the we have seen the wedding will cope with 19 we've seen the way they have grown their economy we've seen the

way there are more of the few economies this year that is still growing and supposed shrinking and so now they're travelling us that one of the consequences is to do something about instruction poverty fulfilling a promise of the communist party but also demonstrating yet again that the chinese economy is a remarkable player internet as well and ben. professor will just spoke about the trustworthiness of these numbers and how they have oftentimes been called into question do you believe the numbers coming out of china and what do we know about the details behind this announcement at this point ben. yeah we get it when you drill down on the details and there are some fairly interesting things here 1st of all let's start here china's threshold for poverty is separately low according to an analysis of these numbers that was done by the wall street journal it shows that even if you talk about these people who were recently lifted out of poverty we're talking about about 373000000 people or 27 percent of china is still considered

poor because if you use the world bank poverty standard of $2000.00 a year 2000 dollars a year so essentially what would that means is that china is kind of setting its own threshold lower than the international standards set by the world bank the other thing that's fairly interesting here is that urban poverty is treated separately in this analysis from rural poverty obviously the kind of the focus of the communist party there and and john king's administration has been to focus on rural countryside and not on the urban areas so there's been more of a focus there having said all of that let's be clear about this as well the eradication of poverty in china is a real thing based on the numbers that are coming out there are millions of people living in those countryside areas who are living much better today millions upon hundreds of millions of people living better today than they were even just a decade ago or 2 decades ago so we can quibble over the numbers and whether or not they're exactly on par with what we would call poverty in extreme poverty but it is

true that people have a higher standard of living in these communities where they once did not and i think that is something worth note professor if i actually wanted to ask about that how important that point that ben just made about the growth that they've seen whether it lines up with a western philosophy on what is poverty versus what we're seeing in china but how important is just seeing that growth in china you know especially among the poor there. i think. the important one and we had for that having nothing to do with china about where you draw the poverty line. internationally but also here inside united states for example now that the issue has been debated i think much for the absolute rubble which we can pour all about is the rest debatable question absence has gotten better and there are no interest can compare photographs both of rural and urban china 102030 years

ago no such skylines as you see today no such evidence across the border in die in restaurants leisure activity cell phone us i mean that's what i meant before you can see so many different statistics that if any one of them is far out of whack it kind of exposes the whole thing so i'm not surprised they said this they want to reach it it's another feather in their path and remember it's what the rest of the world of the majority want which is to grow to expand to reduce the poverty and they're able to show real progress in that in that process professor whoa whoa what can the rest of the world learn from china when we look at this growth out of poverty. well you know it's a big big one of the chinese truth is that if you do have a cold war game arrangement moralized public resort and

drive resort if you don't give it all to the public maybe the soviet union example and you don't keep it all. maybe the last in the u.k. but if you put these things together under a real story and the arrangement well lynch it again was a compilation with that kind of mobilization whether it's finding cope with it whether it's around it in poverty but you can't get if you don't do that and the fundamentalists notion that actually below one is what we're trying to refute has to go awry it struggles with the us and it struggles with the soviet tradition and now showing that this is a problem which can do extraordinary things in the way of economic growth and bet i want to give you the final word on this because the one point people are definitely going to make about this report is also that there is still

a large wealth gap in china because of the poorest and the richest as you see here in the united states a pretty much in any country worldwide how do we part with that. listen that's kind of the point here that yes while china is doing obviously good things in terms of eradicating poverty its wealth gap is absolutely growing the 400 richest people in china had their wealth grow by 64 percent just this year but guess what that's where china looks a lot like the united states right it looks a lot like the west when you see that wealth gap disparity where it does not look like the west is in the eradication and lifting people up out of poverty we don't look like that right now and for someone like myself who says oh yeah i believe in the capitalist system man the united states is sure a poor example of what capitalism could look like instead it looks like everything wrong with capitalism whereas china looks like and i like of the professor said a minute ago it doesn't have to be all one way. or the other they're doing things in a very different way in china and we ought to pay attention to it. ben swan and professor richard wolfe post about the nomic update thank you both for that expert analysis

today. and that's it for this time you can catch boom bust on demand on the brand new portable t.v. app which is available 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 newer models same some smart t.v.'s as well as roku 'd devices or you can simply check it out at portable t.v. we'll see you next time. so you know one nuff said no not. ugly little causal balloon

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was not going to go and here's a guy who's going to be behind the app you don't mind you're going to. be. over 4 years in the making a landmark trade deal between the u.k. and me you finally struck an end to the bricks and saga and the great britain's membership within the european union. the plane carrying sputnik resupplies from moscow arrives in argentina after the south american country officially registers the russian covert 19 jab. and clemency for killers but none for whistleblowers trumps part of the list includes mercenaries imprisoned for the deaths of civilians in iraq leaves off those who spilled the beans on american war crimes. today we hear they've been released on the person.