4.5 • 705 Ratings
🗓️ 18 March 2020
⏱️ 9 minutes
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0:00.0 | Welcome back to the pro rata, where we take just 10 minutes to get you smarter on the |
0:07.7 | culture of tech, business, and politics. |
0:09.7 | Sponsored by Bridge Bank. Be bold. Venture wisely. I'm Dan Permac. On today's show, |
0:14.5 | more bad news for WeWork and what one pizza shop is doing for hungry kids. But first, helicopter |
0:20.0 | money. That's the term being thrown around for federal government proposals to send checks to individual |
0:25.4 | Americans. |
0:26.2 | Some proposals are that the checks should be for $1,000, some say $3,000. |
0:31.1 | Some say it's a one-time thing, while others believe it should be a monthly stipend so |
0:35.2 | long as the coronavirus outbreak keeps much of America |
0:37.7 | on lockdown. The basic idea, let people keep paying the rent, the mortgage, and keep the lights on. |
0:43.4 | This is a bit reminiscent of Andrew Yang's universal basic income concept, except that it's a virus |
0:49.7 | this time that stopped many Americans from working, not technological automation. And it came very suddenly, |
0:55.4 | not gradually. Anyway, here's what U.S. Treasury Secretary Steve Mnuchin said yesterday in terms of |
0:59.7 | stimulus. This is not like a normal economic situation. The government has requested that parts |
1:04.9 | of this economy shut down and the president is determined. You can think of this as business |
1:10.7 | interruption money. The president is determined, you can think of this as business interruption money. |
1:11.6 | The president is determined we will put money back into this economy to protect hardworking Americans and small businesses. |
1:19.6 | The bottom line is that America and the world is facing an unprecedented financial crisis, |
1:24.6 | much broader based than what we experienced in 2008. |
1:26.6 | The federal government has finally, maybe belatedly, realized that it needs to act with urgency, |
1:32.4 | even if it can't be sure that its solutions will work. |
1:35.1 | In 20 seconds, we'll dig deeper, including how individual bailouts could affect the food supply chain, |
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