Marketplace Tech

Venture capital has been the way the world’s most promising tech companies get funded. But it’s a notoriously white industry. A survey last year by the National Venture Capital Association found that just 4% of U.S. workers in the industry are Black. HBCUvc is a nonprofit trying to change that by connecting VC firms with historically Black colleges and universities, like Morgan State. Marketplace’s Amy Scott spoke to HBUvc leadership, students and Black entrepreneurs to find out more about how the group might bring about change.

This week, after nearly 30 hours of debate, the House Judiciary Committee passed a series of antitrust bills that could weaken the power and influence of the biggest tech companies. The proposed legislation would increase merger filing fees to give regulators more money to police them, prohibit big companies from snapping up smaller competitors and even force tech giants to sell off parts of their business that create conflicts of interest. All of the measures had some bipartisan support, but there’s still a lot of disagreement even within parties about how far to go. Marketplace’s Amy Scott speaks to Makena Kelly, a policy reporter at The Verge, who followed the hearings.

The self-driving software firm Embark Trucks said Wednesday it plans to go public in a deal that would raise more than $600 million and value the company at more than $5 billion. Alphabet’s Waymo just raised $2.5 billion in fresh funding as it tries to expand its self-driving taxi fleet outside of Phoenix. Chris Gerdes is a professor of mechanical engineering and co-director of the Center for Automotive Research at Stanford and a safety adviser with Ford’s autonomous-vehicle division. Marketplace’s Amy Scott asked him where all this money is going.

The median sale price of an existing home rose to a record $350,300 last month, according to the latest report from the National Association of Realtors. Sales of existing homes fell in May for the fourth straight month as competition for the few homes available continued to push up prices. Last week, Zillow announced an update to its tool for estimating home values, saying the changes allow its algorithm to “react more quickly to market trends.” Marketplace’s Amy Scott spoke to Norm Miller, a professor of real estate finance at the University of San Diego and a consultant to companies that create automated valuation models for banks and the government.

Earlier this month, the White House released its first-ever strategy to fight domestic terrorism. The plan includes more funding for investigators and prosecutors, better information sharing between agencies and efforts to address the underlying causes of violent extremism, such as racism and bigotry. Tech has a role to play too. The Joe Biden administration says it will invest in programs to increase digital literacy and work with tech companies to make it harder for terrorists to recruit online. Marketplace’s Amy Scott spoke with Heidi Beirich, co-founder of the nonprofit Global Project Against Hate and Extremism.

You’d think one line of work that would be safe from the robot takeover is human resources. But some companies are working on it. A recent New York Times investigation laid out how Amazon’s automated systems for managing warehouse workers led to unreasonable scheduling, delayed benefits and inadvertent firings. Marketplace’s Amy Scott speaks with Peter Cappelli, a professor of management and director of the Center for Human Resources at the University of Pennsylvania’s Wharton School. He explains what a traditional HR department used to do that’s now done by software.

This week, the White House appointed Lina Khan to chair of the Federal Trade Commission. The announcement came just hours after she was confirmed by the Senate to be a commissioner. At just 32, she’s the youngest-ever FTC chair. Khan rose to fame for a paper she wrote while at Yale Law School, making the case for reining in Amazon’s monopoly power. Khan went on to work on Capitol Hill, as an FTC staffer and as a professor at Columbia University’s law school. Marketplace’s Amy Scott speaks with Cecilia Kang, who covers tech policy for The New York Times. According to Kang, the difference between commissioner and chair is a big one.

If you do any shopping online, you’ve no doubt seen offers to pay for that sweater or mattress in installments using services from Affirm, Afterpay, Klarna and other fintech companies. These “buy now, pay later” startups got a boost from the growth in online shopping during the pandemic. And the model is moving beyond retail to include things like rent, travel, even medical bills. Marketplace’s Amy Scott spoke with Sheridan Trent, a research analyst for the Strawhecker Group, a consulting firm that works with some “buy now, pay later” companies.

It’s been more than a decade since the revolution that came to be known as the Arab Spring, when protesters across the Middle East challenged — and in some cases overthrew — authoritarian governments. Social media played a central role in helping activists organize and build support. Now, autocratic leaders around the world have been stifling dissent on these platforms or banning them altogether. Russia, China, India and Nigeria are some recent examples. Could social media play the same role today that it did in 2010? Marketplace’s Amy Scott speaks with Philip Howard, a professor of sociology, information and international affairs at Oxford University.

The cost of building a new house has gone up sharply over the past year. Not just because of lumber, but because steel, insulation, windows and appliances are all harder to get and more expensive because of high demand and delays. A number of startups have promised to revolutionize construction with new materials and technologies. It’s not easy — the modular construction startup Katerra filed for bankruptcy earlier this month. But there are others looking to disrupt the housing industry. Marketplace’s Amy Scott speaks with Sam Ruben, the co-founder and chief sustainability officer of Mighty Buildings, which uses an enormous 3D printer in a warehouse in Oakland, California, to build houses.