hi, everyone. welcome to "on the money." i'm becky quick. efficient, cheap, the wave the future. should robots be taxed as if they were workers? if your mall looks like this one day it might look like this. the mall of the future and how retailers are trying to lure people back. it's not too early to think about those holiday travel plans. why this week matters when it comes to booking your trip. mark wahlberg and sean combs talk about bedtimes, family, and why they are saying drink up. >> "on the money" starts right >> this is "on the money." your money, your life, your . now, becky quick. we begin with the robot tax. if a robot takes the job of a human, should

pack to cities or states to replace lost revenue from what workers would have been paying? in this week's "cover story," adeadty roy on a controversial idea, should government tax the robot? >> reporter: bill buyer is traveling for work this week. he came back to his hotel room after a run and realized he needed some water. but when he opened the door -- >> oh,. thank you. >> reporter: he got his water and a surprise, a robot at his door. buyers just one customers benefiting from the robot but tear, or botler as he's called, at the aloft hotel in cupertino, california. botler runs deliveries to customers which the general manager says frees up the front desk person to do other things. >> it makes it easy for the staff, takes up some of the menial tasks. so deliveries, things like that, allows us to have people stay at the desk, stay engaged with the customers. >>

$24,000 a year. about $6,000 less than what an average front desk worker makes in a year at the aloft. that doesn't include things like vacation time and benefits. and remember, people often get raises over time. while the cost of robots will get cheaper as they become more common. some brief robots like botler are hurting the u.s. committee by taking jobs away from humans. >> if we don't prepare now, if we don't support the automation that's going to happen, i think it could potentially be an incredible disaster. with 37% to 47% of jobs that currently exist displaced by robots. >> reporter: inspired by bill gates' endorsement of a robot tax in an interview earlier this year, they created a committee to explore the idea. if a robo tax is implemented, robots could be taxed just like people are. but critics say a robot tax is flawed because it kills innovation and with so much

hard to define exactly which robots would be taxed. botler's creator says, i believe automation will create more jobs than it eliminates. while the hotel's gm says botler isn't taking away any jobs from humans. buyer says he didn't mind talking to a robot instead of a person. if a robo tax is implemented, kim hopes the money raised will go toward worker retraining or education. here at aloft the general manager tells me botler makes between 15 to 20 deliveries a day, making him just as productive as a human worker. for "on the money," i'm aditi roy, cupertino, california. >> so would robot tax help or hurt the economy and job growth? as we saw, jane kim is a san francisco city supervisor. jeff bernstein, president of the association for advancing automation. thank you for being with us. incredibly interesting story. jane, you've called robots in automation the biggest challenge to jobs in the fu

tax work? >> i think automation's a good thing. but there will be a downside to this technological progress and workers will be left behind. and so the fund that i'm initiating is to help smooth this transition. help workers that are displaced by their jobs, re-educate, retrain. prepare young people for the jobs of the future. and invest in creating meaningful and high-wage jobs in industries that are currently hard to automate, like for example child care workers, which is currently a poverty profession. >> your organization represents automation manufacturers, not the robots themselves. these are the robot builders. bill gates said there should be a robot tax, do you think he has a point? >> no, i don't. i think it would be a really big mistake not only for california, but for the country. robots are actually helping save and create jobs right now. the real problem we have right now is there's so many unfilled jobs that people don't have the skills for. so while i agree w

we should do more on training and retraining we don't have a problem with robots causing unemployment. look at a 20-year period as we have, you'll see that whenever robot sales rise, unemployment falls. whenever robot sales fall, unemployment rises. look at where we are right now -- i think that is because companies are more competitive. the real threat to jobs in america is when we can't compete. why would we want to put disincentives on companies using the best technologies available? the chinese, koreans, japanese, koreans, they' in robot ro. european un just rejected the idea of a robot tax. >> jane, that is a good point. if you took this to the extreme, saying we were going to tax farm combines every time they put agricultural workers out of work, we'd be in a very different position, we'd probably still have way more people working on farms today than we do. >> workers have lost jobs to automation over the last century. and we need to ensure that we are preparing workers for what

revolution, which is an increased uptick in automation of jobs. we're not just talking manufacturing anymore. we're talking about retailing, truck driving, accounting, even stockbroker jobs. i'll just use one profession as an example. truck drivers are the most popular profession in at least 29 states in this country. and when autonomous vehicles come into place, and by the way i think they're going to have a positive impact on the economy, we're going to have to do something about the hundreds of thousands of men and women that depend on this middle class job here in this country. and this payroll tax on robots, on jobs as robots take them over, will just go into this fund to help smooth this transition and invest in education. >> jeff, you could understand the need for, as automation really ramps up and gets rid of a lot of those lower-skilled jobs, we do need something to get

if the companies are the ones benefiting from this, why shouldn't they pay part of the skill training that you just talked about saying you ag? >> well, automation has been changing the nature of jobs forever. we've been hearing these threats forever. you can go back to the '20s. john maynard cain. john f. kennedy in the '60s. but we're really good at creating new jobs. we can't always define them. 20 years ago, becky or jane, would you have said there was a job called a search engine optimization specialist? a good, high-paying job? i don't think so. an app developer upon an iphone? you couldn't have said that because iphone didn' ago. we're good at creating new jobs, so all the hysteria about job losses, this is nothing new. >> jane? >> what i'm hearing a lot in the bay area, we're at the heart of the technological revolution, and in fact, when you ask almost any individual in tech what the

automation and job displacement. we could lose millions of jobs. more than the great depression and the great recession combined. i'm initiating this fund because if we don't prepare now, we're not going to catch up later. >> all right, jane, jeff, thank you both f >> thank you. >> thank now here's a look at what's making news as we head into a new week "on the money." for the first time since september 2010, america's economy lost jobs. 33,000 jobs disappeared from the workplace last month. although the unemployment rate fell to 4.2%. the numbers were distorted by hurricanes harvey and irma. average hourly wages increased by .5%. that led to some market concerns the fed may raise rates and that friday.tocks lower in ear although thursday the s&p 500 reached the sixth consecutive record high, something unseen since 1997. the dow and the nasdaq also hitting new records as well on thursday with the markets moving

stocks closed mixed on friday. amazon may be ready to disrupt yet another industry. the online giant has reportedly experimenting with its own new delivery service that will make more products available for free two-day delivery. it would give amazon greater flexibility and mean less business for u.p.s. and fed ex. netflix is raising prices. it's charging $11 a month for its standard hd plan, an increase of 10%. and $14 a month for its ultra high definition or 4k plan, an increase of 17 netflix will use the money to finance the producti. up next, we're "on the money." rethinking retail space. big changes that could be coming to a mall near you. later, whether it's home for the holidays or a vacation getaway, this is a big week to be buying your ticket. how to save and where to go. right now take a look at how the stock

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if you've been to a mall lately you may have seen "for rent" signs in store windows. as more retail businesses move online, malls are being forced to evolve to stay alive. courtney reagan explains the "sign of the times." >> reporter: so far this year at least 20 retailers have filed for bankruptcy and more than 6,100 stores are closing. but that doesn't mean the in fact, most malls are holding up okay. they're just changing. investing a lot of money to keep up with the shifting consumer. >> even though online shopping is so popular and i do it a lot myself, i love the experience, the social experience, of being here with friends. >> reporter: this westfield century city mall in los angeles just got a billion-dollar pickover a

because of the variety stores, appeal and sales, it's one of the highest-rated mall in the country. there are more restaurant and specialty food options than clothing stores. there are fitness clubs, lots of stores that cater to health and beauty, a tesla showroom, apple store, amazon books, and much more. >> a lot of the malls in the country, a lot of the physical assets, are aging. you do need to upgrade the mall. you do need to have the best retailers. and every 20 years or so, you need to spend that kind of capital to remake the mall. here at century city, i believe we have the mall of the 21st century in what used to be the city of the 20th century. the idea is to keep the customer coming back, give the customer something they like to do, not just come to shop, but come to a place where they want to be. they want to relax. they want to meet their friends. they want to create their own physical socia revamped malls wl be put to the test with black friday less than two maway as online shopping

to break new holiday records this season. jll, ceo of america's retail, says changing mall tenants will help lift sales but the broader economic picture will help santa too. >> this is going to be one of the best holiday soents for ales in the all-time people. r confidence is high that affects retail sales. >> reporter: as mall owners shift away from clothing and more toward experiences and , many malls are starting to look less like malls, hoping that's what keeps shoppers come. most of these new malls look less like malls and more like cities. some adding grocery stores or a gym but that doesn't necessarily mean you'll get people to also shop afterwards. imagine shopping if you're sweaty or with groceries. but mall owners hope it will help. >> what about the new nordstrom idea? the local season, good service, that is what more

going to do? >> i think many will. new nordstrom local concept is just down the road from this new westfield mall in los angeles. and so there's no inventory. you can go there to have alterations, get a manicure, pick up online orders or return them there. i think they're tr shoppers a reason to go into a place. whatever it takes to bring in business the retailers will do, online or offline, and service is becoming a part of it. >> thank you so much. "on the money," it seems like summer just ended but it's not too early to start thinking about getting away for the holidays. e got some bargain destinations. entertainers marc wahlberg and sean combs. i are you ok? and sean combs. i what happened? dad kinda walked into my swing. huh? don't you mean dad kind of ruined our hawaii fund? are you okay? >> what happened? >> dad there goes the airfair. i don't think health insurance will cover all... of that. buth my fathe! without that cash from - aflac! - we might have to choose between hawaii or your face.

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they say if you snooze you lose. that is definitely the case when it comes to booking your holiday travel. joining us now is adam goldstein, the cofounder of hip monk, online travel company with money-saving advice. adam, thanks f >> thank you. >> you say that right now is the best time to be booking your holiday travel. why is that and how much do >> yeah, right now is definitely the best time to book holiday travel. fares only go up from here. between now and the end of october you'll typically save 25% to 30% on thanksgiving and christmas tr

wait to closer to the date. >> we're not talk about it being so cheap right now, but it's going to get more and more expensive, you're going to get depends how you look at it. there's other ways you can save money too. >> what are those money-saving tips you tell people? >> well, the first one is to set a fare alert. so a lot of travel sites, including hip monk, give you a way to watch the fares as time progresses. second thing is to look at alternative airports. so instead of just looking at new york, jfk and laguardia, also look at newark, or look at san francisco and oakland. the last one is typically if you're willing to fly on thanksgiving day, or on christmas day, you'll save about $100 on average versus if you fly a day or two before. >> wow, those are good tips for people trying to get home. if you're planning on taking a vacation, forget about going home, you want to get away for the holidays, what are some of the less-expensive places or good times, good places to be

going at that time of year? >> yeah, you know, we've seen that actually most places are more expensive to visit this year than last on average about 6%. but there are a handful of places that have surprisingly .ood laguardia airport specifically in new york city. >> because of the construction taking place there, right? >> yeah, maybe it's that, right? kona, on the big island of hawaii. san diego. there's a bunch of great deals if you're willing to go somewhere not to see family. >> tell us a b hip monk. how is it different from other travel booking websites out there? there are a lot of them. >> yeah,o hip monk is a comparison search website. we search across dozens of different websites. airlines, hotels, travel agencies. we bring in stuff that no one else does. we're the only site that shows you flights, trains, and private jets side by side. >> huh. >> we're also one of the only sites that shows hotels and vacation rentals side by side. so

place. >> that's interesting. adam, thanks for your time to. up next, "on the money," we're taking a look at the news for the week ahead. mark wahlberg and sean combs' recipe for success, get this just add water. >> we didn't just get here because he's a great actor or i'm a great rapper. we're gr they really appreciate the military family, and it really shows. we've got auto insurance, homeowners insurance. had an accident with a vehicle, i actually called usaa before we called the police. usaa was there hands-on very quick very prompt. i feel like we're being handled as people that actually have a genuine need. we're the webber family and we are usaa members for life. usaa, get your insurance quote today. juswho own them,ople every business is different. but every one of those businesses will need legal help

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here are the stories coming up that may impact your money this week. monday is columbus day. the banks will be closed but the stock market will remain open. and spacex, the space technology company run by elon musk, will launch its falcon 9 rocket. wednesday the fed minutes, a recap of the federal reserve's september policy meeting. friday we'll get a read on inflation with the consumer price index. that measures the cost of goods and services for consumers. by the way, friday also marks a special day in american history. the first cornerstone was laid for the white houss date in 1792. what do you get when you combine one of hollywood's highest-paid actors with one of hip-hop's wealthiest artists? mark wahlberg and sean deadty combs are blockbuster entertainers and each entrepreneurs in their own right. the mega are teaming up on aqua hydrate. i sat down to talk about family life, the future of retail, and how they got into business together. >> i was training for a movie and it was the onl t

changed in my routine. it was so good for information, taking the lactic acid out of my body, i went from running six miles a day to eight miles a day, so i said, there's something special about the water. i wanted everybody else to reap the benefits of drinkingal ka lighted water. >> what does it do? >> cuts down acidity in your body, cuts down inflammation. this is the first year water has surpassed soft drinks. that's a trend that we're trying to really make sure we take advantage of and it's something that's organic going on in the world. >> i look at both of you and am amazed at the number of different brands that you're involved in. the number of projects you're involved in. how do you prioritize? >> i only get involved in businesses that i truly believe in. products that i consume myself. things that i believe will make your life better. >> sean, how about you, how do you choose what to get involved with? >> authenticity. you know, i feel like i've been able to achieve a little bit of longevity just by being authentic, not just biting at anything that's an opportunity. >> how do you target

>> i love telling a story. through my products or anything that i'm marketing. not just trying to sell things. the story hundredsed this real. this is a water th during a certain turning point in our lives. he was getting more into health .nd fitness, i was just starting >> let me ask you about retail we've been watching the retail industry really struggle. you have a huge brand. it's something like $400 million in sales annually for sean jean. how do you think about shopping in general? >> you have to adapt to what's going on. just being one of the -- i would say like celebrity pioneers of digital marketing, it's an exciting time for me and the brands i'm associated with. because we feel we have that edge as more people start to shop from home. >> you both care an awful lot about family. how do you make sure that you are raising kids who have drive like you do, when they have all kinds of benefits and access to thing that

did? is that something you spend much time think about? >> you spend a lot of time thinking about that. that's the fine line. you want to be able to give them the opportunities that you never had. i think for me the most important thing is giving them a faith-based education. access to tutor asks things they're going to need to help be the most successful that they can be academically right now. i just want them to be the best that they can. and the only way they can really achieve those goals is by putting in the work. they see dad getting up at 4:00 in the morning every day. i need to start my day off and do all the stuff before you get up, make sure everything's going smoothly with the business stuff we're doing, and making are making sure i'm on top of it. >> you get up at 4:00 a.m. even when you're not shooting a movie? >> 3:30, 4:00 sometime. >> i call you, i'm up at 3:30 in the morning too. >> it's peaceful. >> he's not going that early, not until the sun's up. >> what's your parenting style? >> tough at

where it's important to be realistic with your kids. and some of that comes with tough love. but then it's just a lot of just, you know, raising and nurturing and the same type of problems and headaches anybody else has. but accepting them with love and knowing that, you know, you can instill certain things in your children that will jus >> see, they're just like us. sort of. thanks to sean combs and mark wahlberg. that's our show today. i'm becky quick. thank you for joining us. next week, millennials struggling to get cash for a down payment have a new option, crowd funding. we'll tell you about it next week. we'r

good morning, america. this morning, nate comes ashore. making landfall first in louisiana, hours later a second time in mississippi flooding parts of biloxi, cars underwater. roads and streets impassable. >> this is by far the strongest winds we've seen all night. >> this stranded family rescued from the rising water, and nate now heading north with threats of tornadoes and flash flooding. who is in the danger zone this morning? tough tweets. president trump is taking aim at north korea saying that diplomatic efforts by previous presidents went nowhere, and now