how can you say don't listen to silicon valley when you are silicon valley you're part of silicon valleycall out reid hoffman and eric schmidt i get it, but reid hoffman has a very different business model. papal also a different business model. he is on the board of microsoft that took a different tact, i think you could argue, from the likes of facebook, of google, even amazon, et cetera and then apple is part of silicon value lain it had a very different voice about encryption and the use of customer data, you're saying, really, aren't you part of silicon valley, not all. >> i didn't write the headline, john the point that i'm making is, i believe that both eric schmidt and reid hoffman are brilliant people and incredibly successful and engage deeply in politics. and he has been a spokes man for blitzskin. growing companies as fast as possible caring more about speed and scale than efficiency or any other value. that has been the secret to building enormous wealth for many, many people if is also producing business models that are predatory and very destructive. reid was one of the fi

that's one of the reasons i moved out of silicon valley.s got a bit of a mono culture, expensive place to live, it is hard for your employees to get by, it's hard to find get your kids into good schools. that's why i'm in orange county and started oculus before i sold to facebook. there's a reason i came back as kind of as soon as i was able. >> hey, palmer, you talk about being an optimist on technology. facebook's global affairs and communication chief nick clegg has a post that reads we may never be able to prevent hate from appearing on facebook sblier, but we are getting better at stopping it all the time how would you characterize the ability of technology to accomplish what they're obviously under pressure to do >> oh, man, this is outside of my area of expertise i follow this stuff as a layperson, but i'm not much of an expert on content moderation schemes and auto detection and all that stuff i'm glad that they're at least trying their best to stop some of the things like terrorist groups and things that are really harmful to peopl

darrell cortez, a retired san jose police officer and president shop with a cop of silicon valley. >> thank you for having me. >> give us your assessment of what you've seen across the country in the last couple of weeks. >> these are turbulent times in the community here as well as across the country. i think there's a call for action. this is a the pivotal moment in time, in history rather. there's going to be a new paradigm shift in policing. there's calls for reform. there's also calls for defunding the police. so that there's a lot of challenges ahead. >> what has this done to the good work that you've been doing through your foundation across the silicon valley? the pictures are beautiful when you're taking the kids out for christmas shopping. the pictures are beautiful when you're reading to the kids in class, delivering bicycles to their schools and backpacks and whatnot. this has to be a big blow to that community effort, or is it? >> well, it's a great question. the concept behind shop with a cop was the very reason why this nonprofit was created. that was to foster the mutu

russell, how many jobs have been lost in silicon valley? how many startups have been forced to close their doors? >> we only have preliminary numbers and we can't be precise, but the fact is that the startup community has not been hurt in the same way as other sectors, especially service, food, retail, they have been hurt in a way that is devastating. they are drawing on deep pockets from venture capital. whoave about 100 and 37 have just achieved their first round of funding and of those, about 50% have to have some layoffs. only seven of those companies have gone belly up, laid off 100% of their work was. as i say, this sector, it continues to be more robust than the others would have been, who were hammered by the pandemic. russell, when this relief package, when you see the details of it, what exactly are you looking for? what could have a meaningful >> was especially important is the paycheck protection program for small business. that has been key. the difficulty for small business is that it has not been reliable. the red tape for fi

of a silicon valley company that does away with the need to remember passwords. the race to develop vaccines and treatments for the coronavirus pandemic is entering a crucial stage with large scale trials on the way the debate over opaque pricing has raised concerns that pharmaceutical companies could be charging way too much for covert 900 treatments the latest part of disquiet was triggered by gilly ads rendez of the air at america's decision to monopolize supply is al-jazeera. reports . the u.s. government has cornered almost the entire global market of rum desert here for the next several months the drug has been found to short hospital stays for covert 1000 patients this america 1st policy during the pandemic has led to expressions of outrage and dismay among some international leaders but u.s. coronavirus patients may not receive the drug if they don't have enough cash the drug manufacturer glared says governments in the developed world will pay 3 $190.00 for a vial of rendez of their average treatment will come to $2340.00 a patient however each vial for t

i live in the silicon valley. this is happening in los altos, california. just because someone's different or has different melanin doesn't mean we need to disregard the humanity of that particular person. >> i showed a usps representative the video who says they do not tolerate this kind of behavior and abusive language and provide training to employees in dealing with matters such as these. they are looking further into the incident. >>> several schools in san francisco may get a new name. "san francisco chronicle" insider and abc7 news contributor phil matier"chronict review is under way of schools named after presidents and hysterical figures. the list includes lowell high school. the school district says he wavered on his commitment to anti-slavery. you can read phil's column in the chronicle every sunday and wednesday a. >>> a tribute to congressman john lewis. hundreds of mourners watched his flag-draped casket drawn across the edmund pettus bridge. it brought congressman lewis back to the spot where he almost died on march 7th, 1965, when alabama st

. >>> any report says that an eviction timebomb is on the horizon in silicon valley. with renter protections set to expire at the end of this month, advocates fear that thousands of people could be put out on the streets if the government does not take action. ed rubin joins us live to explain. >> reporter: affording rent in silicon valley has gone from hard to nearly impossible for many people during the pandemic. advocates expect masses of evictions if something is not done fast. >> reporter: through a translator, carol lena explained how worried she is, with no job she is having trouble paying rent. >> at the moment she feels that the moratorium expires and the landlord may try to find any reason to evict her. >> reporter: eviction moratoriums are in place and counties across the bay area however, in santa clara valley they are set to expire august 31. any report from working partnerships usa and the law foundation of silicon valley predicts a looming crisis when that happens. >> our report prediction is over 34,000 evictions, that is 16 times the normal rate of ev

he is a democrat from california and represents much of silicon valley. guest reporter is emily birnbaum of protocol. iq both, for being on "the communicators" this week. representative khanna: thank you for having us. peter: as a representative of silicon valley, how would you describe the representation of some member companies in washington right now. -- right now? there isative khanna: a lot of positive sentiment. check

i live in the silicon valley. this is happening in los altos, california. it doesn't mean we need to disregard the human an of that particular person. >> reporter: i showed a usps representative, he said they do not tolerate this climbed of behavior and abusive sxlang providing training to employees in dealing with matters such as these. they are looking further into the incident. >>> several schools in san francisco may get a new name. "san francisco chronicle" insider and abc7 news contribute or phil writes, in today's chronicle, that a review is underway als named after historic figures. it includes 12 schools including lowell diplomat james lowell. the school district said he wavered on his commitment to anti-slavery. you can read it in the chronicle every sunday and wednesday. >>> a deeply moving ceremony in alabama this morning paid tribute to the icon john lewis. hubs hundreds of mourners watched as the horses carried the casket across the bridge. in line for the dr. reverend martin luther king jr. it brought him back to the spot where he almost died

we have breaking news coming out of silicon valley. amazon ceo bezos ordering all employees to remove tik-tok from any device that has access to company e-mails. amazon is citing security risks for this ordered removal. tik-tok quickly responding saying it doesn't understand the company's concern. this comes as the trump administration has said it is considering banning chinese social media apps including the very popular video platform. if you've got teenagers, who have been quarantining at home, i guarantee you they have been on tik-tok. here's the concern: these kids and everybody else who uses tik-tok sharing user data and apparently the belief is that the chinese government can dip in and see what's going on, and that is a worry clearly shared by jeff bezos. this after users including my kids, basically my daughter, my son's like i'm not interested, but were set into a frenzy yesterday when video views and all counts -- these are like followers vanished. tik-tok acknowledged it was a glitch, simply an error on their end and that i

they say silicon valley has failed us and the reason we don't have flying cars is because all they want to do is kind of modified to consumer services. is that a problem but it just doesn't dream is big enough for whatever reason? cynic i think the seeing from your silicon valley has been a spectacular success and if you are grumbling about the fact you have a spokane amazon an facebod google in your backyard delivering extraordinary benefits, online shopping, whatever it might be, we would kill for a bit of that in europe. they failed to produce a single digital giant to rival facebook, amazon, google, or their rivals. we have a very centralized system that tells them what to do and we pick fights with big silicon valley companies all the time. they are constantly trying to take them down a peg. .. >> and it turned out the manufacturers didn't want the regulation to favor dyson's product which works fine with dustin it. it was designed to increase that power usage they didn't want to have to reveal the fact so they lobbied for this regulation which is different elsewhere in the world s

he is a democrat efrom california and represents much of silicon valley. our guest reporter is emily birnbaum of protocol. iq both, for being on "the communicators" this week. thank you for having us. as a representative of silicon valley, how would you describe the representation of some member companies in washington right now. -- right now? there is a lot of positive rshsentiment. check companies -- tech companies polled about 60% to 70% approval. there is a sense that some of these companies are working on vaccines, working on antivirals and such. they are allowing for zoom for remote work, for remote calls, they are engaged in allowing us to have communication in the time of a pandemic, allowing us to get groceries, that said, there are other ethical issues. there is a central essential workers being paid appropriately . are these platforms doing enough to combat a speech? are they doing enough to pay workers a living wage? so it is complex. there has been talk on capitol hill of regulating tech companies, communications companies, more than they are

you helped make silicon valley, silicon valley.cent years you've written a lot about how the technology industry is taken a wrong turn. in many ways it's hurting our world, ark economy, our society more than it is helping. what made you want to write this book? and why now? >> guest: when i was with intel, what we were doing, i've come to realize child's play. what we were doing was tinkering with things. we are making stoplights work better, we had cash registers so they added up and along came the pc, and the automated spreadsheets, when you automated a spreadsheet, it went inside a business and you replace something people were doing with pencil and paper or something like that. but the business stayed the same when it came to realize what was different about this technology was it was transforming the form of our institution. if you look at it if you look we automate existing format causes the form of the institution to change so a bank becomes an application on a smart phone. and then, he suddenly realized this had happened tw

meantime big tech in silicon valley face opposition from the european commission. she's gone after big tech companies before, but the latest, the likes of alphabet, google, facebook could face new complex laws designed to akle their market dominance and get them to pay more tax, also demand more responsibility for responsibility for content. they'll draft the new laws but the history has been they've come up with an anti-trust fine against google in the cost, demanded apple pay back taxes also the european data regulation designed here. so clearly there's history. stand by for the latest on that. >> also, uber set to take over one major food delivery service. what more do you have on that? >> you can expect more consolidation in the food delivery business. we're hearing reports that uber has inked a deal to buy the business postmates in a $2.65 billion agreement. we're waiting formal announ

you helped make silicon valley silicon valley, but in recent years you have written about how the technologyndustry has taken a wrong turn and in many ways hurting our world, economy, society more than it's helping. what made you want to write this book and why now? >> well, when i was with intel, what we were doing was-- i have come to realize child's play. what we were doing was tinkering with things, to make stoplights work better. we made cash register so they added up and then along came the pc. we automated spreadsheets and when you automated a spreadsheet , it when inside a business and you replaced something people were doing with pencil and paper or something like that, but the business stayed the same, and what i came to realize is that what was different about this technology was that it was transforming the form of our institutions so that if you look at it what we did is we automated existing form. this is causing the form of the institution to change, so a bank becomes an application on a smartphone. then, i suddenly realized this had happened twice before in the history of hum

he's a democrat from california and he represents much of silicon valley. our guest report is emily birnbaum of protocol. thank you both for being on "the communicators" this week. >> thank you for having us. >> host: representative khanna, as the representative of silicon valley how would you describe the reputation of some of the member companies in your district in washington? >> guest: on one hand there is a lot of positives. if you look at the polling, the tech companies pull above 60-70% for their approval. there's a sense these are companies some of them working on vaccines, the biotech companies working on antivirals. they are allowing for zoom for remote work, for remote calls. that they are engaged in allowing us to have communication, allowing us to get our groceries or information. that said, there are other ethical issues. there's a sense are so essential workers being paid a partly? are these platforms thing that the combat hate speech and voter suppression? are they doing enough to pay workers a living wage? so it's a complex narrative. >> ho

communicators" this week. >> thank you for having us. >> host: congressman, as the representative of silicon valley how would you describe the reputation of some of the member companies in your district right now in washington? >> guest: well, i think on one hand there is a lot of positiv positives. if you look at the polling the tech companies pull about 60, 70% of their approval and there is a sense that these are companies and some are working on vaccines and companies are working on antivirals and they are allowing for remote work, for remote calls that they are engaged in allowing us to have good medication in the time of a pandemic and allowing them to get groceries or information but that said there are a lot of other ethical issues in a sense of essential workers being paid appropriately and are these doing enough combat hate speech and voter suppression and are they doing enough to pay workers a living wage. it is a complex narrative. >> host: there has been talk on capitol hill of actually regulating the tech companies, communications companies a little more than they are now. are

this just makes it easier. >> reporter: but here's another effect of so many people in silicon valleyorking from home. until this office fills up with techies again, many of the local restaurants andhat depend on their business are going to struggle. >> i've lost 80% of my sales. >> reporter: sales from walk-in customers and big catering orders for meetings. without them, many small businesses simply can't afford the rent here. >> and it's not going to be possible if people -- if people decide that they're going to continue this work from home forever. >> reporter: but what about big, expensive campuses like the apple spaceship or google's next buildings? >> they will start to say, i miss talking to people in an office. >> reporter: someday. in mountain view, scott budman, nbc bay area news. >>> republicans unveiled major parts of their coronavirus relief proposal today. benefits to protect americans impacted by the pandemic are running out. some have already expired like the federal ban on evictions, though many state and local bans remain. federal covid unemployment benefits run out

we have sean casey of the silicon valley space center on the line watching this with us.about the significance of this launch in particular. >> well, yes, aside from the launch of a military satellite for the republic of korea, this has, as you mentioned, demonstrated spacex's turnaround time of under 60 days. the previous record of 54 days was held by the nasa program for their atlanta shuttle. this is five days under that. 54-day record. it is a new record. it also demonstrates the continued reuse of the falcon 9 vehicle. this is a workhorse for spacex and a cash cow for the company. emily: now we are going to be following this for the next several minutes and we will also be covering the landing of the first stage on the spacex drone ship. that is another critical step in this particular mission. sean, it's fun to go back in time and look at the history of the space program, but as i understand it, the last time they stay shuttle launched again this close together was back to 1985, justs days in before the challenger disaster. even as you look at this over several deca

we'll speak with silicon valley congressman about the new donation that's are helping to close the campaign cash gap. and, of course, the stimulus question let's focus in on the big stories we're watching in if the final hour of trade. bob pisani tracking the market action on a volatile week of trading. meg terrell is looking it at the big one for biotech stocks trading at the highs and kate rogers has some fresh comments from treasury secretary on the ppp small business program. but bob start us off with the broader market here. >> it's been a choppy week characterized by rotation. the s&p 500 is up 1% that is good news. we're still up about but that rotation, there is not a lot of conviction that it is going to last long let me show you what i mean. this is rotation old school cyclical names like transports and industrials, small caps which are often bank stocks, energy, all up technology, the growth sector to the down side. s&p 500, we've been hitting resistance of 3230 why is that important? that is the old june high. that's where we started the year on january 1st, 3230 or so we can't

jerusalem in a simple government along with israel's interior ministry want to rename what he jos silicon wadi with office space for high tech businesses as well as hotels all part of a more than 600000000 dollar development master plan in the occupied east but a project on this scale in occupied east jerusalem isn't just an issue of business and investment and jobs it's also an issue of politics and control throughout 53 years of occupation palestinians have been regularly denied building permits had homes demolished while israeli projects have sought to solidify israel's claim to unified city the municipality says the intention with silicon wadi is to improve employment and living standards we would love it if we had investment from the arab community themselves we don't want to take this and own it we want to do it in order for easter some to continue developing the way that it deserves to develop. the municipality says gary's units will be compensated but a lawyer acting on their behalf says even notices suggest no such thing and that the entire project fails to meet the needs of resi

one is there's great admiration for the innovation in the brilliance that just pulses in the silicon valley. i have been out there and toured a lot of companies, met with a lot of the leaders. it's so exciting to see what's been developed and what the future holds. i'll be careful how i say this and i will probably offend somebody, but there's also an arrogance that comes with that incredible productivity and innovation that tends to downplay the effect that they have on public policy and people who are engaged in public policy. when you are that good, that big, that strong, that innovative, , sometimes you thik you can discard public reaction or political reaction. i was in a meeting with one of the ceos with the democrat friend and colleague of mine who said, basically you don't have any friends on capitol hill anymore. the right insurer biased in the left thinks that you are whatever. that's a bad place to be and they don't have to be there. if there were more transparent, if there were more forthcoming and if consumers new what was really going on and had more choice in some -- s

silicon valley, you can't live on unemployment. >> right now at 4:30, the final rush. businesses across the bay area brace for a flood of customers as they prepare to shut down again tomorrow. we go back to the south bay gym that just reopened yesterday. >>> plus, happening today, berkeley city leaders consider a first in the nation plan to remove police officers from traffic duty. so who will do the job? a live report is next. "today in the bay" starts right now. >>> and a very good tuesday morning. thanks so much for joining us. i'm laura garcia. >> and i'm marcus washington. mike is keeping his eye on that commute for us this tuesday morning. we want to start out with meteorologist kari hall with a look at that forecast for today. kari, walking outside this morning, i was like, ooh, it is cooler out here. i like this. >> okay, we're making some progress here. >>> we're going to see a very nice day. our temperature trend today will be very much like yesterday. we're starting out cool and we'll see it going up into the mid-70s by noon. it will feel very nice. our high

. >>> silicon valley is famous for young entrepreneurs. we immediate one helping to fight coronavirus at just 13. >> 13. it started with an idea and a lot of the 3d printers. let's bring in scott budman. >> reporter: this man saw a problem. how we touch things and wanted to help. the 13-year-old investor calls this device the safe touch pro. >> it's lighter and an anti-microbial. it gets noisy. >> reporter: noisy. i have to say i'm glad that he knows how to fix every single one of them. >> reporter: he is impressing san mateo county. >> we declared it your day. >> reporter: today. >> basically, reached out to him. his device saves lives. make no mistake about it. >> reporter: an idea inspired by his silicon valley roots. >> i get inspired. >> reporter: he says he would love to get these in the hands of hospital workers and ride sharing companies like uber and lyft. scott budman, nbc bay area news. >> what were you doing at 13? >> playing in the backyard. i don't know. nothing. hanging out with friends. >> i was practicing weather reports.

. ♪ a silicon valley flower start-up has seen spectacular growth.hristina: we've completely changed the way customers buy flowers online now. lemonis: but it might not be long before the bloom is off the rose. christina: i'm worried they're gonna beat us to market. lemonis: its rivals are catching up. christina: to not be able to raise capital and then to see competitors come in and raise $10, $12, $15 million -- that does affect me. lemonis: its technology is falling short. it's not a great website. and it's frustrated founder is letting her bitterness get the best of her. why haven't you been able to raise money? christina: because i'm a woman. lemonis: this proud entrepreneur needs to let go of her hang-ups... christina: i'm not a weak woman. lemonis: i don't think you're a weak woman. ...and gain some perspective. you just made it about money. that's how it makes me feel. you just made it about money. or her beloved business will die on the vine. christina: i don't want to be that person that cries on tape. i really don't. lemonis: my name is ma

but she isn't hopeful and is worried about the high rent in silicon valley. >> i don't have a place to stay right now. i have been living with friend, sleeping on couches. i have been trying to do what i can to help. >> reporter: at san jose university administrators are working on their plans, which will include a mix of online and in-person offerings. >> i'm still so excited to see other students online even if we're not going. it will just be a whole new experience report. incoming freshman satya jones will stay home in southern california to save money and is taking it all in stride. >> i'm kind of scared leaving my family at first. i will be able to spend a little more time with them, which is great. >> these students doing their best to navigate the uncertainty. >> students are struggling with personal life and not just housing or things like that, just with the emotional impact of covid-19. >> in the south bay, chris wynn, abc news. >> they announced they started trials for covid-19. it allows people to literally spit into a tube. the samples would then be an leads at a pop-up l

fortunately i was close to silicon valley. many of my friends were people in the valley itself.as an early adopter. we were one of the very first ones to adopt internet in 1995. david: one way you got customers all over the country, you had branch offices. charles: we found out early on about 50% or 60% of our customers wanted to come into a branch and know real people were behind the counter. david: you had better technology, you had your face, which everyone got to like, and you had branch offices. one other thing made your company grow -- you decided to do more than just discount brokerage. you initially came up with the idea of people buying mutual funds through your platform. can you explain how that works? charles: mutual funds were sold by salesmen who got a big commission for doing it -- up to 9% of the money invested went to commissions. i thought funds with no commission was the best way for investors to go about investing. i said this is crazy, why can't i offer this service to everybody? we went to the no lode companies. "give us a little bit of your management fee a

the topic was toxic culture in silicon valley. in her famously husky voice, arianna talked about how important it was to bring down those brilliant jerks, she called them, that very memorable phrase is in my mind -- who are -- the -- the tech firms but -- extraordinary acts of sexual predatory behavior. as she talked about this, i did a kind of mind switch. all of a sudden i remembered the face of sebastian tyler, one of those predatory jerks who brought my early career to a very bruteal finish. and it was in a sense a very kind of standard story. one friday afternoon in january, i was 23, working in my dream job as a associate at a top management consulling firm, and sebastian tyler drifted by my cubicle. lent over the glass petition and thrust his face into mine and said, come have a drink in my office. and he kind of hered at me and said, something stiff, strong, and i remember his words. i was pretty frightened and i made some kind of excuse saying i had an appointment at 5:00 and had to leave the office a little early but seb

. >> and living in silicon valley costing a little less right now. but rents are ticking up in more affordable parts of the bay area. we'll explain both next. >> back out live, sky ranger showing you pictures of what is going on in martinez. a marchand rally going on there. we have been following this for about 90 minutes now. when it started out there are soon to be more people. i believe the number of people at this rally has been thinning. it's been peaceful beginning to end. helicopter pulling out and showing the streets around there. this is all in response to hate crimes in the city. you can see some people, some stragglers going here and there and maybe just going home. some of the problems that these people were addressing including the viral video, two people trying to paint over the city's black lives matter mural. the huge yellow letters right in front of the courthouse there. they were upset about that. they came together, they marched, they stopped, they took knees, they had moments of silence, they are still there at waterfront park and

. >> reporter: in the shadow of the shark tank, marketer dan orloff says san jose needs more than siliconley. >> getting to a heart of who we are as a region, headquartered in san jose, is important. >> reporter: so a contest was launched to bring an icon to san jose. something to define it, like the golden gate bridge in san francisco, or the eiffel tower in paris. >> i've always thought that it was a hole in our community that we don't have such a place. >> reporter: 963 submissions from 72 countries later, a group called urban confluence silicon valley has a lot to choose from. from the techie to the spacey to the flat-out weird. each aiming to give traveled know how important those things are, both for economic development of a community, also for people's confidence in their own community, having a sense of optimism about who they are and where they live. >> reporter: the plan is to eventually put the icon here at san jose arena green, where it will be seen not only from the ground but from the air, because it's in the flight path to sjc. the next move, september 18th when the contes

. >>> stories of racism and discrimination within silicon valley.coming up here on the 4, we're going to speak with a washington post reporter who went beyond the curtain the chat rooms and e-mail chains of black entrepreneurs who all have at least one thing in common. they say they have, discriminated again when it comes to funding for their companies. >> and dealing with cooler winds today across the region. a littyour thursday, and then the weekend, that will be a different change in the pattern as well. we'll have your updated forecast coming up. (birds chirping) (woman chattering) - [narrator] ordering dinner for the family? (family gasps) rewarded with a side of quiet. delivery perk when you order. (doorbell rings) - [group] grubhub. >>> black entrepreneurs have long struggled to get their tech start-up off the ground and funded, and many say that's because they face discrimination and bias from wealthy venture capital ices in silicon valley. . reed joins us from the washington post. in this piece you wrote,, you talked with many business owne

a new report from working partnerships usa and the law foundation of silicon valley protects a loomingsis when that happens. >> our report is predicting an eviction timebomb of over 43,000 evictions, 16 times the normal rate of evictions we receive in a typical year. >> reporter: this, and silicon valley, where rents are highest among the nation. and when my moratoriums end tenants will be asked to pay back rent too. >> most of these low income tenants who lost jobs and are unable to pay rent are going to struggle immensely to pay hundreds of dollars additional each month to be able to pay back rent. >> reporter: the nonprofit says there needs to be action to extend the moratorium, to provide legal assistance to tenants and get congress to act on rent relief. >> we really see this crisis compounding with already a very severe housing crisis. >> reporter: california apartment association believes there's a crisis too, but to the different solution, government rental assistance. landlords need to be able to pay their bills too. >> make rental assistance immediately available to make sure

fortunately, i was close to silicon valley. many of my friends were people in the valley itself. an early adopter, so we were one of the first ones to adopt internet in 1995, i think it was. david: one of the ways you got customers from all over the country, you had something in your mind to do branch offices. why did you want to have branch offices? charles: david, what we found out early on, very early on, at that time, about 50% or 60% of our customers wanted to come into a branch and make sure there were real people behind the counter, that they could see that. so, our numbers, once we opened offices in the location, our numbers went up substantially. david: you had better technology, perhaps. you spent more money on technologies than others. you had your face, which everyone got to like, and you also had the branch offices. but, there is one other thing that really made your company book, itm reading your seems to me, you decided to do more than discount brokerage. you came up with an idea in effect of having people buy mutual funds through your platform. charles: that was a