microlending is a really fascinating topic. if you -- it's why god invented economists. if you look at the programs and -- microlending started in its modern version in bangladesh and other third-world countries. the idea was lend people a small amount of money, let them become entrepreneurs can set up their family in local businesses and let them take off. i you look at the literature carefully, if you listen to -- listen to the people who do the microlending in the third world, they will cite gaudy stack -- statistics how wonderful they are and those statistics are invariably 1% of the borrowers repay their loans in full. the numbers are gaudy. goes on and on. but if you asked them, so what? what is the income of the typical borrower compared to what that borrower would have earned without the loan, and that conversation resolves because they won't look, resist asking the question, which is the only question a poverty fighter cares about. so what we're doing in new york is as follows. you take away from the literature this is probably not a very smart way to proceed. o

. >> sheryl you remember talking to us about microlending and the great success in the developing world was micro lending and the women are the ones that managed the money. i think that is true with phones and activity as well. if we can get inexpensive phones, an android phone is about $100 in china and they are powerful phones and the prices are falling. so you can imagine $70-$50 within 3-5 years. imagine it is loaded with information about literacy and culture. in a small number of years, by giving these phones to women you can solve the education problem, the early education problem, childhood iq and involvement of parents. you could have a huge change. hundreds and hundreds of millions of people empowered. and eventually they have to win against the oppressive male structures. i cannot imagine the women behind the veal in saudi arabia texting. >> what a powerful image. behind a veal but texting. >> we visit one of these universities and at some point the men just have to give up. >> the notion behind the vealeas very interesting. we met a group of women who were atta attacked by a