oliver: and i'm oliver rennick. we are coming to you from inside the magazine's headquarters in new york. carol: the new front in the war against credit card fraud. oliver: more than 100 million accounts hacked. what comes next after the equifax breach? all that ahead on "bloomberg businessweek." ♪ carol: we are here with editor in chief megan murphy.

oliver: and i'm oliver rennick. are coming to you from inside the magazine's headquarters in new york. carol: the new front in the war against credit card fraud. oliver: more than 100 million accounts hacked. what comes next after the equifax breach? all that ahead on "bloomberg businessweek." ♪ carol: we are here with editor in chief megan murphy. a story on synthetic identity theft. i had not heard of this. megan: it is a really troubling and quite spooky story about how fraudsters are doing something different than just stealing existing identities. they are actually compiling their own identity. what is so fascinating is it's a long game. this can take months, even years to pay off. they have to keep establishing the identity, keep applying for credit for the ultimately cash out. oliver: it is like a weird ponzi scheme of credit fraud. what is interesting is you guys detailed somebody in the story, the actual degree to which they are able to do this. $340,000 using credit cards. a fleet of vehicles. how does it

i'm oliver rennick. m carol you can catch us on radio on sirius fm 119 and am 1130 in new york, am 1330 in boston, 9011 in washington, and in the bay area. oliver: in asia on the bloomberg radio plus app. carol: many companies have added timber to the endowment portfolio. oliver: you has discovered that it is cutting down on prices. >> yale has led the way. it is a hedge against volatility. you own this other asset. as yale went, a lot of other endowments wanted to follow that. oliver: it seems to be something that happens in markets, where there is not only the search for yields, you have to hedge it, you think about a big endowment fund like yale to lead the way and everybody gets on board. do we have anything about how many investment pieces there are across investors? >> it is the big ones like harvard and yale that have a lot of assets in endowments because they have a long time horizon. oliver: centuries. >> centuries. where you see an issue is the small endowments, they follow. they may not have th

i'm oliver rennick. also catch us online at bloomberg.com. and the sooner than you think section, how to book a trip for the bottom of the ocean. we talked about josh's profile. josh: this is a seattle area entrepreneur who founded a company called ocean gate. he always wanted to be an astronaut, and realizes editions to go find the world and see crazy potential life forms just was not a reality. that is not what astronauts are doing. maybe is what will happen, but he started looking at the oceans and realized there is this vast unexplored universe on our planet that we know very little about. below scuba diving depth, we have submarines for military use. there are a few experimental submarines. jonathan: it seems like such a limited number of these devices that provide us with a wealth of knowledge. josh: there are literally four submarines i can go to the average depth of the ocean. exploration, there is not a lot of funding for it. i don't know why. space seems more compelling. hollywood has always pe

oliver: and i'm oliver rennick. he magazine's headquarters in new york. carol: the new front in the war against credit card fraud. oliver: more than 100 million accounts hacked. what comes next after the equifax breach? all that ahead on "bloomberg businessweek." ♪ carol: we are here with editor