hi, everyone. welcome to "on the money." i'm becky quick. robocalls. everyone hates them. what you can do to avoid scams. how one company is expanding into the brick and mortar retail world. a bet on the future. he's putting his money on a group of an incredible young people who thinks will change the world. >> we're always joking this is a four-year college experience on steroids. >> and how you can cash in and clean up at the same time. "on the money" starts right no we begin with robocalls 37 t. how can you fight back?

andrea day tells us how you can let scammers know dialing you is a wrong number. >> hello, this is rachel at card holder services. >> reporter: it's a robocall, an automatically dialled call bothering millions of americans. >> there's about 30,000 robocalls a year now. >> and so annoying, one man started an app to try to stop the madness. >> it's a fake microsoft, and there's nothing worse. >> i get probably i would say ten calls a day. >> reporter: the government's do not call list was supposed to stop these tell marketers. why does it seem like it's getting worse? >> the do not call registry actually works for legitimate businesses. the problem is all the people who don't respect it, who are the scammers who could care less. and unfortunately, it people fall for the scam enough to make it worthwhile. >> reporter: we sat down with the federal trade commission, the agency behin

the ftc says consumers lose $350 million every yearle falling for robo rip-offs. >> the ftc investigates unwanted calls, and we do try and track down where these calls are coming from and bring law enforcement actions to >> reporter: but according to the ftc, most robocalls are coming from overseas where scammers try to stay outside the reach of regulatory authorities, and blast out calls for next to nothing. last year, the ftc received nearly 3.5 million complaints about the calls. that's up 60% from 2015. the federal communications commission, or fcc, also regulates telemarketers and sets rules for providers, telling us, unwanted calls, including illegal robocalls and tell marketing calls are the top consumer complaint the fcc receives each

>> i have never seen anything like thir: made it easier to sp calls, making it look like the calls are coming from from your bank or from yeesh. >> now they're coming from my own area code. >> reporter: they're let progress vieders block some calls that are likely scams. >> we can return trustworthiness to the caller id information, and the industry is working on standards on that front. >> ctia, the wireless carrier's trade group says it's united in its effort to defeat robocalls. these efforts stop more than a million robocalls every day. >> everybody has to get out of the habit of picking up the phone if it's not a number you don't know. >> reporter: when you get robocalls write down the numbers and share the numbers with the ftc. they will pass them along to apps like umail.

>> margo saunders, senior counsel with the national consumer law center feoffed before congress on behalf of consumers fighting against those robocalls. thanks for being here today. >> you're welcome. >> why are there so many of these robocalls out there? this is a constant daily announ annoyance at my house, too. >> because people are making >> when i pick up the calls, sometimes you see calls, you don't recognize the number but you know it's coming from the town next to you. that's what it's felling you on the caller id. if i pick it up and hear the delay before things start, should i just hang it up? is there anything i can do at that point? >> if a live person comes on, you can say to that live person, please take me off that list. if they call you again after you've been requested to be taken off their list, they're violating the law. >> the ftc and the justice

for violating the do not call list. but does a law like this actually make an impact? >> yes, a lawsuit like that does make an impact. but with the dish settlement and similar class actions brought against robocallers, you're talking about telemarketers and debt collectors who are identifiable, for whom the law is still useful. that's the law the telephone consumer protection act, which is under considerable attack from those robocallers. because they want relief from that reliability so they can continue to make those. >> so what should i do as a consumer? can i complain to the fcc that something like that actually works? >> you should tell the fcc and tell your member of congress that you don't want robo calls from known or unknown robo callers. >> we saw the ctia, the wireless coalition is opposed to loosening some of th

like an at&t and verizon are, too. frankly, with all the calls come into my house now, almost every one of them is one of these robo callers. i'm tempted to yank the cords out of my house. you would think that's something they want to do to fight this, too. are there things they can do? >> yes, there are things. but you put your finger on a critical distinction. there are fewer protections against robo calls against land lines than there are for robo calls on cell phones. and we are seeing far more to land lines, so much that many people have done just what you're thinking about doing, dropping their land line. >> the bottom line is speak up, speak loudly, tell people on the phone, tell your congressman, complain to these government offices and do it very quickly? >> send a letter or send a phone call or a text to your member of congress saying do nothing to reduce liability for unwanted calls. and that may help.

today. >> you're welcome. up next, we're "on the money." the brains behind one of the biggest names in beauty. how the selfie generation is boosting the bottom line. and later, some of america's best and brightest choosing to spend a year with 100 scholars in china. the goal, just to change the world. small goal. we'll talk more about it in just a bit. but right now, take a look at how the stock market ended the . [ indistinct chatter ] [ intense music playing ] it's here, but it's going by fast. the opportunity of the year is back: the mercedes-benz summer event. get to your dealer today for incredible once-a-season offers, and start firing up those grilles.

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good news for consumers since gasoline prices will probably stay low this summer as well. the falling oil prices are because of oversupply. that sent stock prices down this week because oil services and producers are an important part of the stock market. on tuesday can the dow had its worst day since the middle of the may. but stocks were mixed later in the we. travis kalenick is looking for a new job. he is the now former ceo of uber, the ride-sharing giant. he resigned after questions over culture and company practices, which turned a blind eye to bullying and sexual harassment. don't count him out for good, though. he's still on uber's board and owns a big chunk of voting shares. and george clooney is now really, really rich. he sold his tequila company to a liquor giant for about $1 billion. his stake could be worth up to

of course, that's all before taxes. they say beauty is only skin deep. but people who buy beauty products have some pretty deep pockets. last year, americans spent more than $62 billion on makeup, lotions and hair products. and one fast-growing company is blue mercury. joining us now is the ceo and co-founder, marla beck. you've got a pretty positive story in retail right now. 125 stores nationwide. you're opening another 40 more this year alone. and that is an anethma to the rest of the retail. >> first of all, we locate in neighborhoods near where our clients live and work. so we're the last mile, except for ups and amazon trucks. we're in streets, not in malls. so big difference. we're also about launching new . one in five

a brand-new product. the pace of innovation is really important for us. and three, we have the best beauty experts, a huge army. so we're providing an experience when people watch in. >> you mentioned ups truck, the last mile. those are things you can go on amazon and buy. that's how you identify yourself from the big competitors? >> 100%. people come in and say i need a new eye cream because i have fine lines. you can't learn that from amazon. >> when you started out back in 1999, it was going to be the dot-com-only solution. how did you decide to pivot to this whole idea of yeah, it's brick and mortar, too and customer experience. >> the word pivot didn't exist we went from clicks to bricks because we had to. we were really early. it was the first dot-com boom and the first dot-co many bust. everyone was orn dial-up and no one was shopping online. we said you know what, everything sold in department stores and drugstores. there's no such thing as a

free-standing beauty store where you can get friendly, expert, honest advice and all of our team are trained in all products. you had to buy products behind . and you had to drive all the way out to the maul. our first stores were in washington, d.c., philadelphia, chicago, where there weren't malls. >> it's so ironic. then you were acquired by macy's and you ended up back in the malls. is this a constant evolution? >> i think commerce is always evol evolving. so yes. for macy's, it gave them a window into what was happening for street retail. and for us, we got to experiment back in the mall and see what that set of consumers was interested in. the millennials are shopping the malls a little bit so we wanted to understand that consumer. it's been a huge learning experience for both of us. >> what have you learned in terms of the millennial shoppers who are in the malls. are you able

the department store? is. >> what's interesting is they like blue mercury. when they pop in, they can browse, they can touch everything on their own. they're trained in all brands. it's really about what they are looking for and not necessarily about one brand's product. >> how do you keep up with local trends? because i'm guessing what plays in new york city may not necessarily play in peoria. how do you kind of keep between the different markets? >> it's art and science. we have these huge databases that we're constantly combing through to look through trends. and then we have huge listening posts, we're listening to people and our staff and what's hot and what's not. so interestingly in jersey, self-tanners are really, really hot. i know you're laughing. >> i live in jersey. >> yeah, self-tanners and big hair. texas. i like big hair, too. and i have a house in jersey. so texas, it's all about cosmetics. california, natural organics. and the cities, we

move. they want products that take the crime and the pollution off the skin. trends are really, really inte the other thing we're seeing is digital media is impacting products and categories so much. and so this whole selfie generation, they want products that come to life. so masks are huge right now. green masks, metallic masks. you can see what i'm doing. >> so selfies are pushing your business, too? >> yes. same thing. i can change my lipstick, i just changed my whole picture. so the digital generation is changing the products. >> that's amazing. i'm thrilled to hear it. thank you so much for joining us today. >> thank you. great to be here. up next, we're "on the money." instead of battling china, an american billionaire is setting on a new school that he's launching. can the next generation of leaders learn to avoid a future crisis? and later, how to turn your closet castaways into cold, hard

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billion mare businessman steve schwartzman has lauchblted a unique program you probably haven't heard of yet. he selected 110 of the best and brightest to spend a full year on full scholarship to a school he's created in beijing, china. the goal is to find the next generati o

can understand the cultural differences between east and. >> you are here in china. you are here in beijing. this is not yale, harvard. this is different. things are done differently. but first, understand why things are done this way. >> in a country known for a great wall, a new school seeks to bridge cultures, languages and build global understan. 110 students from 30 countries attended a grad school created by billionaire businessman steve schwartzman. we spoke earlier this week. >> the talent that these people have, i mean, it make mess feel on a scale of 1 to 10, i'm a solid 7 and they're 9 1/2 to 10s. these are really remarkable students. >> they spent an all-expense paid year in china, earning a masters degree in global affairs. west point cadet and pilot regina parker is one of them. >> me personally, and i think americans at large don't understand china maybe as well as w

their system if we're also going to grow as well and continue to thrive. >> but chinese national jay li explains his culture defines leadership differently. >> you don't talk about leadership. it's more established until you're older. i think that's part of the humble, more humble and modest culture that traditional chinese history and value has. >> my name is carlos gonzalez. i am from the dominican republic. >> but carlos spent 14 years in the united states. >> to go into my first class, i was very nervous. . >> americans seem to be out there. we have our opinions but maybe other cultures don't appreciate the way things are done or show respect. >> the u.s. and china are divided on multiple issues. students are taught to navigate from competition to cultural differences. >> china and u.s. are in consta

that's not a secret. but i believe the first step of resolving every problem is get to know what the other people think, which is what we are doing. >> armed with a degree after a year of extraordinary experiences, schwarzman scholars are now global graduates. >> can you imagine the impact our pioneers will have politics, business, and society? >> to come together as a class of 110 students and have stephen schwarzman tell you, hey, guys, you are the next world leaders, now's the time to really start thinking about how i want to make that difference. >> you can see the entire documenta docume "a billionaire's best" sunday on cnbc. up next "on the money" a look at the news for the week ahead. and what's hiding in your closet? we're not talking monsters here. how to trade your clothes for cash. [ indistinct chatter ] [ intense music playing ]

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on monday, durable goods orders for may are items that are designed to last three years if you're lucky. the indian prime minister is meeting with president trump in the white house pit's also the 21st anniversary of the release of the first harry potter book. on tuesday, the kay

thursday, the iphone actually turns 10 years old. yes, we are old. friday, personal income is out. you know how good it feels to find a quarter in the couch. what about finding dollars in your clo courtney reagan found some in hers and explains how we can do it, too. >> looking to refresh your summer wardrobe but don't have the cash? look no further than your closet. there are websites will who help step gently used but still in-style clothes. i decided to do a test of an app called poshmark and threadup to see which woultd earn me more money. after spending quality time in my closet, i picked nine pieces from brands like j. crew and club monaco. i discovered poshmark works more like ebay and facebook combined. each item has its own listings and creating one is time consuming. it took hours to take pictures

me wearing them, then upload the images and set the price. and to sell, you need to be social. following others, commenting and sharing your listings. ultimately i got offers on four items on poshmark. both the j. crew sweater and pants, the dress, and the karen mill chb cardigan. threadup is considerably less work. you order a bag for $10 and when it comes you fill it up. the time consuming part of threwaiting. it took eight weeks to get the total for my bag. in the end, threadup accepted three items, the club monaco dress and the same j. crew sweater and pants poshmark shoppers made offers on. poshmark takes a $2.95 commission for sales under $15 and 20% commission for sales ovha and the buyer pays the shipping. factoring in all that, my net profit on poshmark came to $144. thread

threadup pays in two wie ways. an up-front payout or a percentage of the sales price ranging from 5% to 80% for off-season clothing sold on a consignment model. my net profit on threadup came to $13. >> we reached out to both company companies. poshmark says his app has 2 million people selling 700 items a day. threadup says it does all the work and only accepts items that meet our high quality standards and we know will sell quickly. and good news for sellers, threadup is getting rid of the $10 a bag order fee. >> i thought it sounded really cool until i heard you only got $13 on that site. >> the great thing sit's easy, fill up the bag, we had to wait eight weeks and they said after the $10 fee, you paid $13. >> would you do it again on either one of these sites? >> i think i would do it again on poshmark. it did take time, but we made consid

you're in control of the process. you can accept lower offers lower than the price that you set. and you're more in control that way. in threadup, i wasn't thrilled with the payout. i personally would rather donate it. >> than get $13. >> i think so. i would rather donate it to good will or salvation army. >> thanks for joining us. flexion week, what a better way to cool off than with a nice glass of vino. we're going to put summer wines to a taste test. each week we're going to keep it right here. have a great one and we'll see you next weekend

good morning, america. and new overnight, health care battle. president trump pushing the senate plan to replace obamacare. >> we'll get it done. >> some republicans not convinced. many democrats, not buyinging it. >> this bill is a moral outrage. >> the look ahead to the plan's critical test. caught on camera. look at this. hanging on. the teen left dangling from this amusement park ride when something went terribly wrong. >> her neck is stuck! >> bystanders running in to help. >> they'll catch ya. they'll catch ya, honey. >> how it all played out in front of a horrified crowd. scare in the skies. passengers shaken up. when their plane starts violently rattling. the pilot's urgent warning. >> our survival depends on your cooperating.