Marketplace All-in-One

From the BBC World Service: There are several options on the table for the OPEC oil-producing countries and their allies in order to help lower prices, but the omicron variant has added further uncertainty around global demand trends. Plus, why the Asian ride-hailing giant Grab is making its debut on the Nasdaq. And, Turkey’s President Erdogan abruptly replaced the country’s finance minister.

We lead off with baseball news. Major League Baseball entered its first work stoppage in more than 25 years after the league’s collective bargaining agreement with the players expired at the stroke of midnight. All player activity as it relates to their teams has been stopped. As many people are making the decision to quit their jobs during this era of the pandemic, we hear about the experience of a stay-at-home dad who left behind his job as a teacher. 

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One of the biggest debates in society right now is over online speech, and how much power tech companies should have in determining what content comes down, and what stays up, or who gets to use the platforms at all. Some complain Facebook, Twitter, and YouTube are too heavy handed or biased. While others argue the platforms need to be way more aggressive. Marketplace’s Kimberly Adams recently spoke with Susan Wojcicki, the CEO of YouTube and asked about her strategy.

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Staples Center, home of the Los Angeles Lakers, will be renamed Crypto.com Arena this month. The news made quite a splash for the cryptocurrency exchange. And it left one listener wondering how naming rights work. We look at the history of these deals and how they happen. Plus, we answer your questions about the cost of switching from gas to electric appliances, why people want to abolish the Federal Reserve and if the two-week notice is really necessary.

And finally, we’ll take some time at the end to say farewell our friend and co-host, Molly Wood.

Here’s everything we talked about today:

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California’s portside neighborhoods, which are home to many low-income residents and communities of color, have long suffered from polluted air. But supply chain bottlenecks have worsened that pollution, which has been linked to cancer, heart disease and asthma. Though community advocates have pushed for emissions reductions, demand for goods that filter through the port is still at a record high. Also on the show today: A chat with Visa’s CEO about the future of digital payments; economists weigh in on how omicron could affect the market; and why it can be hard to find a public bathroom.

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Authorities are considering stricter COVID testing requirements for international travelers coming into the U.S. in an effort to curb the impact of the omicron variant. There hasn’t been an official announcement yet, but plenty of ideas are on the table. Susan Schmidt discusses how the combined forces of omicron concerns and inflation are sweeping through the markets. We also check in on the thriving status of buy now pay later services like Afterpay.

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Powell and Treasury Secretary Janet Yellen are slated to testify again before the Senate Banking Committee after speaking with it on Tuesday. In addition to Powell’s remarks, Yellen offered a warning about raising the nation’s debt ceiling. We hear from YouTube CEO Susan Wojcicki, who spoke at length to Kimberly Adams for Marketplace Tech. Federal money could be offer some aid to parts of the ailing construction industry.

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From the BBC World Service: The Organization for Economic Co-operation and Development says increasing vaccine access must be a priority to help tackle the health crisis and alleviate bottlenecks at ports, factories and borders by allowing them to re-open. And, is the EU’s new “Global Gateway” strategy designed to rival China’s global influence?

Today on Capitol Hill, Facebook whistleblower Frances Haugen is again testifying before Congress on how to hold tech companies accountable. She’s one of many voices calling for more regulation of the industry, which could come from dozens of bills being considered by Congress. That legislation could have a big impact on platforms like YouTube. Marketplace’s Kimberly Adams recently spoke with Susan Wojcicki, the CEO of YouTube. She says the industry is already subject to regulations, both in the United States and around the world, and that Congress should be cautious as it considers new laws.

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It’s time to talk about bitcoin’s digital cousin: ethereum. This is a type of blockchain operating system that allows you to trade the cryptocurrency called ether. But it does much more, including things called smart contracts that are changing the way people do business.

“What it really does is allows for the possibility that the middleman gets eliminated from the equation … if you have a good idea in blockchain and in ethereum, you can kind of go directly to users or investors to raise the money you want to start your business,” said Matt Leising, co-founder of DeCential Media, which covers the world of crypto, decentralized finance and the blockchain.

On the show today, we’ll get a lesson in how ethereum works, the advantages and disadvantages and why supporters believe it’s not going away. So regulators should catch up quick!

In the News Fix, we’ll hear positive news about boosters for teens and hear a warning about how omicron may mess with inflation. Plus, regulators are cracking down on Facebook, but they’re not the ones you’re thinking about.

Then, listeners say farewell to Molly and a bananas answer to the Make Me Smart question.

Here’s everything we talked about today:

Finally, it’s Giving Tuesday. Give now to help us reach $100,000 in donations and unlock another $100,000 from the Investors Challenge Fund. To donate, go to Marketplace.org/givesmart. And thank you for your generosity.