kate rogers has the details for us. good to see you, kate, as always.ho exactly are we talking about? who can invest? >> the good news is that you don't have to be rich anymore to get in on the early stage investment. individuals who now make less than 100 k can invest either $2,000 or less than 5% of their annual income or net worth. people who make more money can invest more and until now under title 2 regulation of the 2012 jobs act, they had to be accredited, meaning $200,000 or more or a net worth of at least 1 million. >> kate, what can they buy? is there a restriction? >> the funding cap for equity crowd funding is at $1 million in a 12-month period, less than the average round for small businesses which is around $2 million and this is not high-flying startups and they are warning divorce to do their due diligence before deciding to back the small businesses because they could potentially throws their investment. >> that's the risk you laid out to beautifully. how do they physically do it? how do they invest? >> there are registered broker deals

kate rogers introduces us to this teen inventor. >> reporter: taylor rosenthal is a long way from his ninth grade classmates in opalaika, alabama. >> two weeks from now is finals. >> are they jealous you're in new york? >> uh-huh. >> reporter: his big idea has brought him to the big apple. the 14-year-old is the founder of rack med, a vending machine that dispenses first aid equipment. he's already raised $100,000 from local investors. >> imagine you're at an amusement park and your child falls and scratches your knee. instead of having to wait in a line for an hour, wasting fun time, you can get quick and easy access. >> reporter: rosenthal made headlines for turning down a $30 million buyout offer. >> i felt like i wanted to grow and develop the company a little bit more. >> reporter: he says his number is a bit. >> $50 million. >> reporter: the entrepreneur he most admires, mark cuban. like cuban rosenthal has a flair for the flashy. he says he'll put aside money to attend college at notre dame and buy a bentley. >> you're 14, you can't drive yet. >> get somebody to drive it for me

for "nightly business report" in san diego, i'm kate rogers. >> cheers. >> nice assignment for kate. to read more about the startup hub in san diego, head to our website, nbr.com. >>> think you know all there is to know about the economy? a handful of high school students probably know more. and today they showed off their knowledge at the national economics challenge where steve liesman got to award one team the championship trophy. >> reporter: they prepped for months. >> the index most commonly used to measure inflation is? >> consumer price index -- >> reporter: it all came down to this. these students beat out more than 10,000 high schoolers in what's become the spelling bee for economics. the national economics challenge where smart is cool but it takes really, really smart to get a tr. in the finals it was lexington high school from massachusetts going head to head against wwp high school north from new jersey. >> 5 trillion. >> that is correct. and congratulations to lexington high school. you are this year's champion -- >> reporter: in the advanced division it was bel air fr

i effective today, let's get to kate rogers with the details on this one. hi, kate. >> hi, kelly.s you no longer have to be rich to get a stake in a startup. startup investors had to be accredited meaning they had an annual salary of at least $200,000 or more or a net worth of at least $1 mill but now equity crowd funding will be open to smaller investors. for startups that means a larger pool of potential funders. companies can raise up to $1 million in a 12-month period in a credited and noncredited investors. under these regulations in individuals who make less than 100 k can invest either $200,000 or the lesser of 5% of their annual income or net worth. people who make more money can invest more money. so how can potential investors find these opportunities? well, the smt e.c. and fin rah have to approve it and broker dealers to connect investors to these new companies. as of this afternoon they have to do their due diligence. these are risky ventures which could lead to loss of their entire investment and since it became legal in september of 2013 among credited investors, $1

melissa, back over to you. >> thank you very much, kate rogers.h people, poor people? >> yeah, poor people don't want to be around poor people. >> how much money is being spent in vegas, how much money is being wasted by people who have a lot of discretionary income to burn and a couple that don't the las vegas palace is a great idea. theme parks haven't really worked in vegas whom. knows whether this thing is going to be born in 2017. and ultimately 140 acres of a golf course is something he should put to use there is a lot of good news in this stock. 89 is a key level if it breaks, i think it goes lower. >> macau coming in line here? >> we know that macau bottom out year-over-year down some 40% last year. >> it's bottom out. >> the declines have bottomed out. the problem i have is everyone looking at coat tie. you still have weak demand. if we see another leg lower in asia, i don't know how you meet weak demand with more capacity. that's going to be a second half 2016-2017 thing. i'd not short it but wouldn't be chasing it at 90 bucks. >> here i

kate rogers has more. >> you can't see any sweat?can't see any sweat. >> wow. >> better, faster, stronger, motivates some but doesn't work for everyone. tyler haney never quite got it. >> running over hurdles, that makes sense but realized that there was a powerful combination about being feminine and athletic. >> another thing that never worked for her, the materials in most athletic lines. >> she was meant to go to college but took a year off and attend attended parson's in new york city instead. >> while in school, i dealt with technical material, the science behind raw materials. >> from there, outdoor voices was born. she launched her business in 2013. >> the brand has the spirit, the youthful energy. being beyond without experience was helpful at the time because i'd ask and be in people's offices that probably if i had more experience i wouldn't have. there weren't boundaries, there weren't rules. >> unlike the uber competitive nature of the business and many of the consumers, today, 27-year-old is running her own race and it'

kate rogers is here with more on the state of small business. it is national small business week. good to see you as always. picking up on the minimum wage hikes, it's a big one for businesses large and small. how worried are small business owners? >> this is one of their top concerns. we've seen a huge trend over the past two years of large cities, big states like california and new york, target, walmart, a slew of company raising their wages anywhere to $9 to $15 an hour. that's a big, big concern and it puts pressure on main street businesses that might not already be paying higher wages. it makes them less competitive. it puts pressure on them to start paying their workers more and more money. we're not seeing a lot of rhetoric on the campaign trail that will make them feel better. donald trump said he's open to doing more with the minimum wage, no details there. bernie sants $15 an hour, hillary wants $12. that gives maybe street business owners pause and concern. >> small businesses are a huge job engine. one part of that is whether the businesses are feeling confident about

as kate rogers reports, sir kensington is bringing in new competition. >> reporter: ketchup, that's what thought about their last semester of college while everyone was out partying. >> one day we were talking about how weird it was if you go to the grocery store, you walk down every i'll, you're overwhelmed by choice in everything, a million cereals and yogurts and salsas but one area of the store, ketchup hadn't changed in 50 years. we thought, that's really weird. let's see if we can do something about that. could we create a ketchup that was in line with the way we wanted to eat and also satisfy that really specific flavor that people look for when they reach for a bottle of ketchup. >> reporter: so the students headed to the kitchen and hosted a tasting for friends. >> we researched the history of ketchup and found recipes and we gave people rating cards when they came in. we wanted to make something that people really liked. >> reporter: their regular and spicy ketchups were a hit. after graduating, mark took a job in new york consulting and scott took off to tokyo to work in banki

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but first, kate rogers has the cnbc market wrap. >> thanks, steve. stocks began the week mixed.the dow falls 34 points, s&p is up 1, and the nasdaq climbs 14. gap shares are sinking after hours, the retailer warned first quarter revenue and earnings would fall short of estimates. gas prices jumped by nine cents to $2.27 per gallon for regular. and krispy kreme shares surged more than 20% today. they're being taken private in a deal valued at $1.35 billion. that's it from cnbc, first in business worldwide. this is clre in phoenix. can i help you? yes! great. correct! ma'am. this isn't an automated couter... operator! ma'am.'m here. i'm live. wait. you're real? yeah. with discover card, you can talk to a real person in the u.s. day night. plus, we're not going to waste your time trying to sell you a bunch of other products you don't really need. that is really nice of you. i feel really bad about shouting at you. oh, you weren't shouting. you were just speaking in all caps. at discover, we treat you lik. 100% u.s.-based customer service. here to help, not to sell. then your eyes m

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but first, here's kate rogers with the cnbc market wrap. >> stocks rallied for the second day in a rowses 145 points. the s&p claims 14. while the nasdaq composite adds 33. a gain in oil helped give a boost to energy shares today. crude rose about 2% to 49.56 a barrel. that's its best level of the year so far as stock files fell. tiffany's earning fell short of estimates. it seems store sales were lower than expected. that's it from cnbc, first in business worldwide. i was enjoying life, i was working... it was too long since my last pap. when i was finally tested, we thought i might have cervical cancer. after worrying - no cancer. i was lucky. women... please get a pap test to check for cervical cancer. and get the inside knowledge about gynecologic cancers. for you and the people who care about you. hey, ready foyeah. big meeting? >>uh, hello!? a meeting? it's a big one. too bad. we are double booked: diarrhea and abdominal pain. why don't you start without me? oh. yeah. if you're living with frequent, unpredictable diarrhea and abdominal pain, you may have irritable bowel syndrome

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kate rogers is here with more. good morning. >> good morning.o longer have to be rich to get a start-up. start-up investors had to be accredited meaning they had an annual salary of $250,000 or more or a net worth of $1 million. but now equity crowd funding will be open to smaller investors. so for small businesses, it means a larger pool of potential funders. companies can now raise up to $1 million in a 12-month period for both accredited and non-accredited investors. now under title 3 individuals who make less than $100,000 can invest $200,000 or must have a net worth of $1 million. how can you find the opportunities? they have improved several portals. as of friday, regulators warned investors to do their due diligence. these are risky ventures to lead to the investment possibly. since the initial regulations kicked in september 2013, so far $1.3 billion has been committed to 6500 vendors in the equity crowdfunding space. >> it's exciting that all investors would get in on the windfall or early investment on these things, but when you start

kate rogers has more for us now. hey, kate. >> hey, kelly. that's absolutely r50i9.san diego. just like san diego's neighbor to the north, it's really established itself as a hot bed for startup activity. in the last go years it's named the top ten startup city. that cybersecurity and technology background, they really become the backbone of the startup team here. that's where darren anderson launched cyber attack in 2012. they have accelerator programs for companies focusing on everything from robotics to drones to securing the internet of things. >> i really became passionate about what it means to be able to be in an innovative place like san diego, but to do so from a digital standpoint. we have so many adversaries making to look our lives heard, stealing our intellectual properties, our ideas, was something that really got me originally riled up. >> reporter: now, he said they've got technology that actually hacked into drones and tells them to land. he said there's no place rather than san diego that he could actually launch this because of their military and d

i raced kate rogers, who is still in her uber. you can see the map.t a hundred miles. she's still out on the road. there a lot of services now making money from getting people out to the hamptons. you have the long island railroad, other helicopter services where you charter the whole chopper but blade in just two years has already flown 15,000 people in the northeast. look, it's expensive but i've already been out on the beach an hour and kate's probably stuck in traffic. let's check in with her if she's online. >> hey, robert. i hope you're having fun at the beach. we are still in my beautiful uber on the way to the hamptons. we've been in the car for about an hour and 40 minutes. we have just over a half hour left in our trip. we told you earlier about surge pricing. originally our quote was $200 to $300. we wound up getting an uber xl but it was surge pricing, twice the normal fare. so it's going to be between $600 and $700. but our driver is putting pedal to the metal so you better save me some of that rose. we should be with you in just over 40

kate rogers. >> that's rye. a nice beat on earnings. reporting $1.07.he street had been looking for it. $998 million. we were talking about macau earlier. they had been expecting them to be in the range of $613 million. they fell right in the middle of that line. for if first quarter, las vegas revenues. they had said between $384 million and $394 million for the first quarter. net revenues for vegas, they report third degree $89.4 million first quarter net revenues for vegas. now you can see the stock here is up by more than 3% in the after hours trade here. we'll get back to you with anything else. >> thank you, kate. what do you guys think? >> that account number is smack in the middle. i do think that's at least a relief right now. that's the main thing. people are looking toward it in terms of win. >> plus it's up 29% year to date. so this has definitely kicked las vegas out of the sector. that's only up about 2% year to date and it is as mike had said, a proxy for china. so if you see aging numbers doing better, you're going to look at this. >> yo

time for a cnbc news update with kate rogers. >> at this hour, president obama sipping filtered city water during his visit to flint, michigan. he urged people to test for lead in their blood. a minneapolis attorney says that prince had arrange to meet with a specialty doctor before he died. nissan is recalling 108,000 rogue suvs in the u.s. it covers the vehicles 2014 to 2016 model years. nissan says there's been no reported incidents in the u.s. and in effort to warn driver, sprint has unveiled an ie catching sculpture in downtown miami. that is a cnbc news update at this hour. back to you. >> we'll take a break here as we head into the final half hour of trade for this wednesday. the dow down 103 points off the lows. a leading trader will tell us what he's watching as we head towards the close. and our special soen sompbs continues. and dan ariely and adam fisher will be up in a minute. stay tuned. this clean was like, pow! it added this other level of clean to it. it just kinda like wiped everything clean. my teeth are glowing. they are so white. i actually really like the two st

kate rogers live with a look at more of that city's start-up ecosystem. kate? >> hey there.the other bay area of the san diego bay. it's where jeff winkler decided will he to start his business origin code academy after realizing there was only one other competing code class in the area. but he also wants the people that he hires to get jobs afterwards. so we'll go out to the big employers in the area like qualcomm and microsoft and ask them what kinds of skills they want in entry level hires? then he'll taylor the curriculum to fit. >> whether we had conversations with employers and really heard how frustrated they were because they couldn't find tall nent san diego because it was leaving for the bay area, that is whether we decided we had to be here. >> winkler got the idea after taking a coding class himself and realizing he didn't learn all the skill he needed to get a job. but he also wants to keep his talents from migrating up north to san francisco. so far he's taught 36 students and his job placement rate is at 100%. >> did he a really good job of preparing us and, y

kate rogers here to make why that makes any sense at all. >> that's right.st life tony lamb sold vacuum cleanser door to door but a chance encounter he led him to a big idea. take a look. over a decade ago tony lamb's doubt her a run-in with an ice cream man that changed his life. >> in the backyard and hear this music and my wife and i come around the corner and there's the sketchiest van you've ever seen in his life and my daughter was running up to the truck, he stopped and screamed. she screamed out of sheer terror and said but i want a popsicle. >> tony and his wife bought the kids ice cream but couldn't help but replay the encounter over and over in their heads. >> he said imagine if that truck would have been nice. imagine if it was an open kitchen concept and all glass and you could see in and this goes on for weeks. imagine if, imagine if. tony obsessed about that idea for two years and decided to quit his then day job as a marketing consultant in 2006 to launch kona ice, a shaved ice store on wheels. >> my wife has backed me in anything i wanted to

kate rogers has the story of one woman taking on lululemon and nicky. >> hi, tyler. up running, biking and never liked the look or feel of traditional athletic clothes so she made her own. take a look. >> people used to be scared of working out in gray but a gray that doesn't make you sweat. >> can't see any sweat through this. >> better, faster, stronger, it motivates some but doesn't work for everyone. tyler haney never quite got it. >> while you're running over hurdles in high school track, that makes sense but realize that there was a powerful combination about being membernism and athletic that wasn't embodied in the blond. >> another thing that never worked the materials in most athletic lines. >> sick of the shiny thin black spandex. >> she was meant to go to college to hurdle but took a year off to attend parsons in new york city and. >> and while in school became obsessed with materials. >> from there outdoor voices was born. launched it out of college selling in boutiques. >> outdoor voices comes like when you're little and your mom says use your inner voic

here with more is kate rogers. >> last week we talked taxes, health care and wages.hree more big issues that matter to them this election tike will. they oppose the partnership which seeks to liberalize trade among 11 countries in the pacific region and the u.s. it still does await a congressional vote. clinton came out against a lame duck vote on that issue if she were to win the election. on the export-import bank which makes loans to companies doing business overseas and working with large companies like ge and boeing, trump and sanders are on open sid sides of the aisle. they're both against the bank while secretary clinton does support it. now on immigration and highly skilled foreign workers, a big one for tech startups in particular. trump, he wants to increase wages for h-1-b vees yaz and hire smernz americans first. clinton and sanders support a path way to citizenship for immigrants and sanders opposed increasing the number of h-1-b vees yaz veez yaz visas in this country. trump has been quiet on this one. clinton and sanders here, they've been critical. hi

let's get breaking news on uber with kate rogers. >> that's right.a plaintiff in a class action suit against uber is speaking out against the settlement terms of the deal. last month uber proposed to pay $100 million in a class action suit raised by several plaintiffs saying this they should be considered employees and not independent contractors as they are today. douglas o'connor is the lead named plaintiff speaking out in a declaration just filed saying that he is speaking out on behalf of himself and the hundreds of thousands of other uber drivers in the state of california and throughout the country who are at first given hope and a voice by the lawsuit bearing my name but now feel utterly betrayed and sold out by an undressed settlement results that only benefits uber. this has the potential to derail this settlement. they have seen to get off easy, only paying $100 million in the proposed settlement. >> that's the key point. only money but the actual structure of the company doesn't change. that is pretty significant. that's why he's angry? >>

kate rogers has that story. >> it's definitely all about taxes and regulation wages and health care reformso let's take a look at where the candidates stand on those big three issues. on taxes and regulation, we start with donald trump. he vows that no business of any size will pay more than 15% of the business income in taxes. he vows to repeal the estate tax which taxes property transferred post debt, something that will hurt small businesses. he also instates four tax bracketses instead of seven. clinton and sanders, they focus on having the wealthy pair their fair share. clinton is aiming to cut red tape with a more simplified tax code and sanders adds four new personal income tax brackets on today's seven. both of the candidates are in favor of the estate tax. on the minimum wage, the two democratic candidates, they both favor higher wages. sanders, $15 an hour at the federal level. clinton for $12 an hour at the federal level. also higher at state and loefl levels. now donald trump, he actually says he's open to doing something with the minimum wage. not too many details there. on to

with the supervisors offices and the city attorney's office specifically call out emery rogers and korea and kateconnor spent a lot of time and i want to thank the city attorney's office for working with us partially on a complicated constantly changing piece of legislation it was figure out with political challenges so it was a challenging piece of legislation be obviously our work is not done but the adoption a milestone we'll move on to other affordable housing so thanks to all the staff thank you. >> item 7 commissioners review of past events of the board of supervisors no board of appeals report and no historic preservation commission hearing yesterday. >> good afternoon aaron starr, manager, legislative affairs. at that land use committee hearing they heard the rooftop ordinance supported by the mayor the planning commission heard this on last year and voted unanimously to recommend approval at the request of the sponsor the item was tabled not going to the full board for adoption the next item an ordinance that will landmark a building at 9092 second street the hpc heard it last year and r