Marketplace All-in-One

From the BBC World Service: An official visit by Charles Michel to Beijing comes amid persisting economic tensions between the two sides. Kenya’s president William Ruto has unveiled a new program to offer cheaper loans to entrepreneurs. It’s called the Hustler Fund – so named because on the campaign trail, Ruto said represented what he called the “hustler nation” of millions of young Kenyans struggling to make ends meet. UNESCO has added the French baguette to its “intangible cultural heritage” list.

While Elon Musk has been celebrating a bump in users and app downloads since he took over Twitter, many longer-term users say they’re seriously considering leaving. Some are even holding mock funerals anticipating the site would break down. This week, Twitter users discovered the company is no longer enforcing its COVID-19 misinformation policy. But if Twitter actually fell apart, what would happen to the distinct spaces there, like what’s commonly referred to as “Black Twitter”? Marketplace’s Kimberly Adams speaks with Shamika Klassen, an information science Ph.D. candidate at the University of Colorado, Boulder. She co-authored a research article about Black Twitter last year.

If you’re a regular listener of “Marketplace Tech,” thank you. We’d love to hear from you. You can drop us a line anytime at [email protected]. We’d also appreciate it if you took the time to leave us a rating and review wherever you listen to the show. It really helps people find us, so thanks.

When the former cryptocurrency exchange FTX went under, billions of dollars in investments seemingly vanished. A listener asked us why FTX customers didn’t move money to a wallet. We’ll get into it and answer more of your questions about what happens when your company goes public and who benefits when you make a charitable donation at the grocery store checkout lane. Also, where do political campaign signs end up when the election’s over?

Here’s everything we talked about today:

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Protests have broken out in several Chinese cities since the weekend over the country’s strict zero-tolerance for COVID policy. On today’s show, “Marketplace” correspondent Jennifer Pak talks to demonstrators to hear about their exhaustion, anxieties and demands after nearly three years of stringent restrictions. Plus, demystifying the “wait, what?” economy, rethinking a career in the crypto industry and learning how to scam scammers.

We’ve told you the insurance industry in Florida is in crisis. Or as one industry insider put it, it’s holding on by “a piece of chewing gum.”

In this episode, we explore possible solutions. We dive into the business of reinsurance, or insurance for insurers (turns out you can insure almost anything, including insurance policies); and we look at another possible solution that was born from the wreckage of Hurricane Andrew 30 years ago: the catastrophe bond, a financial instrument that allows investors to bet against storms and make money on risk. So long as a big storm doesn’t wipe them out completely.

A revised GDP report from the Commerce Department shows nearly 3% growth. Private sector jobs grew as well, but fell way short of expectations. We dive in further with Susan Schmidt. Also, frozen Russian assets might come in handy in helping Ukraine. Finally, we report on the death of Jiang Zemin, the former president of China.

The move was quietly made last week. Elsewhere, tens of thousands of striking academic workers appear to have a reached a deal with the University of California system. Then, we check in on Fight for $15 after 10 years.

From the BBC World Service: European commission president Ursula von der Leyen has proposed taking Russian assets that have been frozen in Europe and using them to compensate for wartime damages. Unrest has continued overnight in various Chinese cities as protesters call for an end to strict COVID measures. And if your flight is cancelled or severely delayed in the U.S., you’re entitled to compensation. In Australia, travelers no such guarantees, so consumer groups are pushing for better legal protections.

Earlier this month, the SS Sally Ride cargo capsule made its way to the International Space Station. The spacecraft was carrying hundreds of pounds of scientific experiments. One of them involves what’s called a 3D BioFabrication Facility, which can build human tissue and organs in space that scientists can’t make on Earth. Marketplace’s Kimberly Adams speaks with Rich Boling, vice president at Redwire, which manufactures the equipment for these experiments. She asked him about how 3D printing works when you’re printing something alive.

If you’re a regular listener of Marketplace Tech, thank you. We’d love to hear from you. You can drop us a line anytime at [email protected]. We’d also appreciate it if you took the time to leave us a rating and review wherever you listen to the show. It really helps people find us, so thanks.

Amazon. Meta. Twitter. A lot of tech companies are letting workers go. According to one estimate, nearly 140,000 have been laid off in the industry this year. And while that’s small compared to job losses during the dot-com bust, the vibes are not great.

On the show today, Rucha Vankudre, a senior economist at labor analysis firm Lightcast, walks us through what’s driving the latest layoffs across the tech industry and what it all might mean for the U.S. economy. Is it a sign of things to come? (Fyi: We expect JOLTS numbers and the November jobs report this week.)

In the News Fix, it’s all about the Democrats. We’re taking a closer look at their position on the railroad strike along with plans to shake up future Democratic presidential contests.

Then, we’ll hear about the world’s greatest eggnog recipe, and a listener calls in to share what she got wrong about being laid off.

Here’s everything we talked about today:

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