hi, everyone. welcome to "on the money." becky quick. the big economy gets bigger and steve case on future startups and how to ride the third wave of technology. making it happen many motown. small business is leading the detroit comeback. meet the entrepreneurs revitalizing the proud city. >> detroit is my favorite place in the world. filed your taxes yet? the deadline is monday. we have tips to stay out of trouble. thinking of selling your home, we have the best month and even the best day to list it. "on the money" starts right now. >> this is "on the money," your money, your life, your future. now, becky quick. >> we begin with the gig economy. flexibility to accept individual gigs and the freedom to work on your own schedule. that's the promise of the

on-demand apps. others warn the sharing economy leaves workers without a safety net, benefits or employee protection. that's our cover story. ♪ >> if you have ever hailed an uber lift, rented a room on airbnb or ordered a craft on etsy you participated in the gig economy. 90 million people in the united states something this sharing economy and half of that number, 45 million americans have worked in the gig economy. for most people it's a way to earn extra cash. up to 15 million americans say it is a major source of their income. 10% of our work force doing it full time. they are picking up two to three jobs a day. they are making upwards of 7,000, $8,000 a month. >> reporter: more than 70% of gig economy works say they love to work in the industry but with the freedom and flexibility of on-demand work comes the growing concern about

most classify them as independent contractors meaning companies don't offer benefits like sick pay or payroll taxes and that led to threats of regulations and lawsuits. uber is saying that drivers are employees and instacart are allowing some to switch from contractors to employees. joining us is steve case. he put america on the internet when he found aol and now he is a leading voice in shaping government policy on entrepreneurship issues. he's the author of a new book "the third wave." thank you for joining us today. >> great to be with you, becky. >> there's a tradeoff when it comes to the gig economy. it's something that has come up frequently in in the presidential election this time around. what do you think, are gig economy jobs good or bad for the american worker? >> they are good. as you said it is not just the gig but giving people flexibility. and not just for consumers to book

conveniently but flexibility for people working. we have seen it a decade in the white collar jobs. people who are teachers for example by tutor, people are lawyers and become moms, maybe do legal work on the side. we are seeing it broaden and give the same opportunity to people in other fields whether driving car cans, cleaning houses, other things. a great thing for flexibility but a new concept. one of the things i talk about in the book is how work itself is changing and we need to make sure policies reflect the change. there's discussions underway in washington what the right balance is between providing flexibility to people and a safety net. >> what is the right balance? that's the huge question. how do you get policy right if you are in the government looking at this very changing work force? >> first of all, you need more dialogue between the innovators and the policymakers. that's been lacking on a lot of issues. there's some discussion, some bills discussed in congress, i'm on the national a

entrepreneurship. this is an area of focus. it will take some time to work through the issues. my guess is there will be some benefits that are more portable and modularized when you take an uber car there maybe a slight fee associated that goes in to a bucket that provides some of the been fits, wores cokers comp an othe we need to recognize that the nature of the work has changed. think that will put pressure on policymakers to keep up with the innovations. >> third wave, the title of your book, you lay out three waves of the internet, first like aol built the foundation for the internet. second wave was you had social companies coming in, mobile applications taking off and now the third wave. what is that wave? >> it is integrating the internet in

pervasive ways in our lives. i think it will change the nature of work and how kids learn in classes, how we stay healthy and how doctors and health care works and even the food sector will change. we have seen some disruption in the first and second wave but not that much and i think we will see a lot in the third wave. the reason i wrote the book i think it will require a different mind set and play book. whether you are a entrepreneur, a big corporate executive, a policymaker or worker, a citizen trying to figure out where the world is going and how to position yourself and your family to be a part of that future. >> how do you do that? what's the mind set we should have in mind. >> you have to lean in the future, you can't focus on where things are. wayne gretzky, people say he was great because he focused on where the puck was going. all of us have to have a sense of where the puck is going, how you position your life, company or organization to be a part of that. second to understand what is happening in those areas. think of a large company,

around the per riiphery. and you need more dialogue between the policymakers and the innovator. it will require this different mind set. the second wave was mostly about software and apps and there are great successes, facebook, twitter, snapchat and many others. as the internet makes the next leap to the third wave we need to partner more and have a constructive de on some of the difficult issues. >> if i'm average american worker at home, how should i take that message? it is easy for someone like you to see the future when it comes of us.internet and ha what should i do to make sure i'm not left behind. >> bottom line recognize it is changing. when i was growing up, my dad worked for one organization for 60 years. when i graduated from college i had several jobs in several years. now some have several jobs with several companies in the same day as part

the flexible economy. it provides flexibility but you have to understand where it is going and how to position yourself, what skills you should focus on learning, how to make sure your kids get the education they need to be successful in this third wave. that's part of what i'm trying to provide as a play book or a little road map for everybody. >> obviously if i'm an entrepreneur i would be looking for advice to you too. if you had one piece of advice for someone starting out as an entrepreneur today, what would you tell them? >> it was easier in the second wave but the third will be harder. you need perrer is veefr rans, some will take a decade, partnership, partner with hospitals, universities or big companies and policy. you will need to engage on somebody's policy and regulatory issues. with this gig economy or

sectors like food and health are regulated. you may not like the regulations. maybe they should change but there will be some. the big opportunities to change people's lives in the third wave will require a different mind set, perseverance and engagement on policy. >> thank you very much for being with us today. >> thank you, becky. it was great. >> again, the book is called "the third wave." now here's a look at what is making news as we head to a new week "on the money." americans cut back on spending last month. retail sales fell 3/10 of a percent in march instead of a slight increase forecast. retail sales are watched closely since consumer sales accounts for two thirds of the dow. the dow posted the highest close since march 20th. the stocks fell on friday. booking a flight the olfa

delta airlines is eliminating the charge for tickets purchased over the phone from a live agent. united and american still charge $25 fees for ticketing over the phone with their companies. and the nba's golden state warriors will try to repeat as nba champions following the record-breaking season. steph curry and the warriors beat the previous high of 72 wins set by the bulls 20 years ago. up next "on the money," a small business boom is accelerating in a surprising place. we will meet entrepreneurs revising their homes down. and procrastinators have more time to get taxes done this year, but the irs deadline is fast approaching. we have last-minute tax tips at crunch time. as we head to a break look at how the stock market ended the why do we have aflac... aflac... and major medical? major medical boyyy, yeah!

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after the decline of the auto industry the housing collapse, population exodus and city bankruptcy filing detroit was in a serious need of a turn around. we see how businesses are making it happen in motown. hi, kate. >> this time the city is engineering a comeback that is reliant on small business and diversified work force. after emerging from the largest municipal bankruptcy in history, detroit is undergoing a revitalization, driven by small businesses that believe in the city's future. april anderson launched her bakery good cakes and bakes in 2013, serving organic products made from locally sourced ingredients. her goal is to see under served areas of the community come back from the brink. >> people realize you need to move to the neighborhoods. the neighborhoods keeps the business going. >> reporter: april i in good company.

businesses for every 100,000 residents in the detroit metro. while a dwindling population had been an issue, that exodus has slowed in recent years. another small business making its way in motor city is detroit denim company. started in 10 by a former chemical salesman who lost his job in 2009. he loved jeans and decided to turn his hobby in to a business. >> i couldn't have done it anywhere else. i couldn't have done it in chicago, new york, any other city. i wouldn't have had i think the ability to go find a place and start making something. >> reporter: today they employ seven people and are on track to open a new retail store in a few weeks them most rewarding part, employing locals and teaching them new skills. something they say was badly needed after the auto industry collapsed. >> making things is -- we have done that in detroit for hundreds of years. it's really rewarding to revive some of those old skill s

that's a real gift. >> reporter: both good cakes and cakes and detroit denim company worked with grant programs in the city including a nonprofit incubator and accelerator that mentors entrepreneurs. they have helped 16 companies create 1200 jobs. more broadly the metro has seen 227,000 private sector jobs, added from 2009 through the end of 2015, according to the detroit regional chamber. anderson is now employing four part timers at her bakery. she's had big successes even baking for oprah but takes the most pride in serving her community. >> it is more about validating when the community supports me. oprah comes to town and leave but to have the community is more important than that. >> reporter: a community of detroiters that has been through so much ready to forge ahead. becky, it's amazing to see the commitment to detroit these nati

the city succeed. to that point, there are plenty of others relocating there, as well. >> are there hurdles the small businesses feel they face at this point? >> absolutely. a lot of revitalization is concentrated downtown. they have amazing statistics, real estate, almost 100% full in 2015, which is a big deal. but the thing is that needs to spread to the rest of the community. that's why it is important that april and detroit denim are going in to neighborhoods outside of downtown and trying to make the revitalization happen there, as well. >> kate, thank you so much. >> thank you. up next, "on the money," the 2015 tax deadline is monday. freaking out yet? don't worry. we have last-minute survival tips to help keep you out of tax trouble. later, spring is in the air. for sale it's more than the cloud. it's security - and flexibility. . it's more than the cloud, it's security and flexibility. it's where great ideas and

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calling all procrastinators, time is running out for filing your 2015 tax returns. this year's deadline is april 18th, giving you a knew few extra days to get it done. if you haven't started yet, senior personal correspondent sharon epperson is here with a last-minute survival guide that will help keep you out of tax trouble. i hate to say it, where do they begi they haven't started yet. >> get organized and make sure they have the documents in place.

to have ready are the social security number and that of your dependent and bank routing number. even though you are waiting until the last minute hopefully you get a refund and you want the direct deposit as soon as possible. gathering the w-2s and 109 9. >> that takes forever. >> and you have to show ira distributions, you want proof of that. any receipts that you have for credits and deductions, 1098 form for mortgage interest, key, charitable donations receipts and any taxes paid, real estate taxes, state and local income tax you want come take of what you paid. >> if i'm ready to file, does it matter if i file electronically or snail mail. >> it doesn't matter in terms of the irs wants your tax return on time any way it can get it. for you the best thing to do is file electronically. the irs says you are less likely to have

to get the refund faster if you e-file and ask for direct deposit. if you qualify by income you can use irs free file and anyone can use the free fillable forms on the irs website. or download turbo tax or h&r block and they have providers that are accredited and work with. and you can look for one on the irs website. >> assuming i'm trying to get things together at point, it's a lot to process. let's say, this is not going to happen in time. >> the form to file for an extension is 4868. you have to do it by the april 18th deadline to avoid penalties or fees that you have to pay. the other thing you have to know is this is an extension to file your tax return, but not an extension to pay what you may owe. if you owe tax, you have to

as best as you can that tax by the april 18th deadline. >> even if you are not sure what it will be. >> try to estimate and pay something. send in some type of check. >> in terms of the fees that add up, how does the irs assess it. >> there are separate penalties for failing to file and pay on time. you might be assessed both of those. you will get the initial assessment that you have to pay and for every month that you are late it goes up. >> is it a big number, heavy fine at first or does it go up over time. >> it can be. depends on what you owe. pay a much as you can and if you can't, go to the website, irs.gov and they have various payment plans that you can work out with the irs. they want to work with you. they do want your money but want to work with you to get it. >> thank you very much. >> sure. up next, a look at the news for the week ahead. and house hunting is in season but for buyers inventory is tight. when is the best month to list?

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more for more on our show and our guests go to our website. and you can follow us on twitter@on the money. here's the stories coming up that may impact your money this week. big names will be reporting earnings including ibm, goldman sachs, coca-cola and verizon. on tuesday, we will have a report on real estate

and new yorker lbs heading to the polls to vote for their democratic presidential candidate in that state's primary. on wednesday, we will be getting last month's existing home sales numbers. it marks the sixth anniversary of b.p.'s oil spill in the gulf of mexico. happy birthday queen elizabeth. her royal highness will be celebrating her 90th birthday. spring has sprung and that means the housing market should be heating up. is april still the best month to sell your home? and what's the best day to list it? our diana olick has some answers. >> reporter: the cherry blossoms are out. >> a couple of bricks. >> reporter: and so are the home buyers like matthew williams hamilton. >> i noticed it picked up a lot in the last month. i think it will get more come p pettive in the spring. i think march is the new april. it used to be april. but now with the weather is changing we have had a lot of people out. >> reporter: house hunting

season but as a seller, which is the best month to list. >> right now it is early may. the reason is because inventory bein, a lot of home buyers have to put in multiple offers and extending the length of the home buying season. >> there are 9% fewer homes available this year according to zillow and as a fast as listing come on they come off quickly. homes listed in may will sell 18 days faster and for 1% more than the average listing. locally the timing shifts. if you are in new york, philadelphia, chicago or l.a., early may is good, but if you are in atlanta, miami or d.c., better to list in april. for san diego and st. louis, march is the sweet spot. no matter the timing, most buyers this spring will face stiff competition wherever they are. >> every thursday and friday there will be four or five more coming on the market.

lot more buyers. >> you expect to get in to a bidding war on this one? >> i expect so, yes. >> reporter: higher prices are in store this spring, no matter the month. as for what the best day is to list your home, thursday. that's when the most potential buyers are out trolling the websites and planning their weekend of househunting. becky? >> diana, i always thought spring was the best time because it is -- everything looks the nicest but then you have kids getting ready, parents want to get in before the next school year starts. what's the biggest factor? >> it is a factor of all of them, becky. what you are seeing is of course the beautiful flowers. you are seeing warmer weather where people want to be out. the biggest factor, as you said, is the you want to get the house sold and in to a new house and get set and settled before september. >> how much difference gauz does an open house make? >> that is a big debate right now. a lot of folks say you want everybody to come through the house. you want to be able to open

up and show off your house, especially if it is well staged. but a lot of folks now are saying, it's a competitive market. why should i open my house up to just anyone when there are so few listings right now and so many potential buyers. why not make them make an appointment so i don't have to open my house to the entire world. >> a sellers market at this point. thank you very much. that's the show for today. i'm becky quick. thank you for joining me. next week, how safe is your water? after the toxic lead contamination in flint, michigan, what you need to know about your tap water. each week, keep it right here. we're "on the money." have a g.

good morning, america. breaking overnight. another earthquake. a powerful shaker strikes ecuador. the strongest in decades. the urgent rescue efforts going on right now. and after double quakes in japan, it's the same tragic scene. the destruction, incredible. >> every house you see in this neighborhood is obliterated. every one of them pancaked right on top of itself. >> the update on this miracle baby. and could the next big quake hit the u.s.? spring snowstorm. colorado socked with heavy, wet snow. whiteout conditions. driving treacherous. hundreds of flights cancelled. plus, the severe weather in the plains. the hail, flooding, and tornadoes. what's in store for the week ahead?