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Ep. 1270: Where it's like comparing apples and googlesWith Google I/O 2013 underway, we chat with Jill Schlesinger about the company's $900 stock price. Also on the docket is college loans, Sony's fragmentation, hockey and more.
-It's Wednesday, May 15th, 2013. Happy Google I/O to everybody. -Oh. -Welcome to The 404 Show on CNET. I'm Jeff Bakalar. -I'm Aunt Jill. -I'm Ariel NuÃ±ez. -What's up, everybody? We got Justin's out still. He's doing some like, you know-- -Thing. -farming things. -Uh huh. -Some crunchy-ass thing. -Some do-gooder thing. -Some do-gooder thing. -Right. -We'll have to hear his stories when he comes back. But today, Jill Schlesinger is on the program. And guys, if you can't see this-- -Hold it. -if you're only listening to the show, she's rocking a freaking Islanders' jersey. Look at this. -That's nice. -That's the first on the show. I can't believe I haven't even done this. That's a first for the program. -Yeah. You haven't even done that. -I never even worn the Devils' jersey. -You haven't? -No. -Why not? -Because, I don't know, you're just that much more committed than I am. -No. -You think that-- -That-- I, you know what, I wouldn't wear it-- I couldn't wear it 'til today, you know, if I wore it and I hadn't worn it-- -Yeah. -then it's a jinx. -Right. Exactly. -Right? So, you can't go into that. So the Islanders lost in the playoffs but it was an awesome playoffs series. -I-- and I-- Oh I love it. I would never thought in a million years that when you come on is the only time I get to talk about how-- I don't know what it is. But if you-- if you're keeping up with the NHL Playoffs; men, freaking Islanders did a great job. -Yeah. How about that Johnny T. and company, we-- are awesome. I was so psyched because, you know, I'm married into an Islander fan. -Right. -Let's be honest. -And that's a big part of it too, like you married into that. Stacie was-- didn't even watch a game of hockey before she met me and now she's a die-hard Devils' fan. -See? We are converted. -Well, the thing is, is that once you get exposed to the greatest sport in the world, you'll "Oh my god, what I have been doing with my whole life?" -Yeah. It's in a-- you know what, I'm an athlete, I was a college athlete; so to me the idea that someone can do the things that these guys do or the women-- -Yeah. -do in the Olympics and their on skates? -Yeah. -Come on. -It's ridi-- -It's unbelievable. It's totally awesome. -It's absurd. It's absurd that they even get compared to other athlete like, Oh my-- -Yeah. -it's out of control. -And you wanna-- do you see Jonny T. nominated, one of the three nominees. -Selke, right? -Yeah. -Very good. -That's pretty cool. -That's awesome. I hope he wins. And I'm sorry not Selke-- -The other thing, The Hart. -The Hart. The Hart, MVP. -Yeah. The MVP, so-- -We'll see what happens. I think he deserves it. I don't think he's gonna win. -I know. Well, yeah. Well the guy-- we got the guy from the Capitals and the guy from the Penguins. -Oh that you mean, Crosby. So-- -Yeah. Crosby didn't play half the season, so what up? -That's this whole thing and there's a lot of controversy over that. He missed like a quarter of the season and it's already 48th of the season. -Yeah. That's what I mean. -But he's so nasty and then the dude-- Did you see what happen to this guy Ariel? You-- -Oh, the guy-- nose broken or? -No, he got his jaw broken. He took a slap shot deflected to the face, basically lost all the teeth at the gum line at the bottom of his-- at the bottom there. -Yeah. -Yikes. -And then he comes back in a-- in the first game against the Islanders. -Yeah. -I mean, he puts up like two on the boat. -I know. -It's just-- It's absurd. -Now the second game, he go-- he came back in the second game-- -Where he-- -they played at home with the Islanders' quad. -But I mean like his first game. -FYI. -Right. -Whatever. -His first game back. The kid is so nasty. -I know. I know. -It's ridiculous. -It's insane. -I wanted it-- there so there's a-- but there is an angle I wanted to get into about the playoffs, about Monday night. We didn't have time yesterday; we had Shanon Cook on the show. I wanna talk, even if you're not a fan of the game of hockey, if you're a fan of numbers, if you're-- -A numerologist. -if you can appreciate ridiculous statistics-- -All right, give it to me. -you will find this mind blowing. -Okay. -On Monday night Game 7, Boston versus Toronto, right? Toronto, they're playing at Boston, Game 7, Toronto goes up 4-1 in the third period. -Yeah. -It was pretty much nails in the coffin. -Right. You done. -Okay. At that point before the Bruins made it 4-2, right? -Uh huh. -The second before that point, Toronto was 99.99% in to win this game and this-- -Statistically. -this was statistic done by Michael Landsberg from the Elias Sports Bureau which like a number-crunching organization-- -Right. -that knows every stat from everything ever, right? -Right. Right. -Even when Milan Lucic scored the third goal, right? -Yup. -To make it 4-3, they still-- I'm sorry, to make it 4-- They still had a 98.4% chance of winning. -So, just shows you a very-- Here's a great lesson, it's like statistics. I'd love this because no matter what, there is some fractional possibility that they will not-- -There is. -Right, they will-- -There is. -come down. So here's your good lesson in that. Same thing in the stock market in-- as an investor, you say "Oh, you know, this is what's supposed to happen" and then something really bad and it's like we call it a "Black Swan" event. -Yeah. -You even hear that term, right? -Yup. -You know, so it's like so rare. -This anomaly, yeah. -It's an anomaly. This one is a sick one and poor Toronto. Come on. Your heart has got to bleed for that city. -In the eight hundred sum-out situations, similar to the one that occurred just before Lucic scored, none of them ended in the fashion that this game ended. So, not only was this a statistical anomaly, something completely unheard of, it's literally almost mathematically impossible. -And yet-- -And like who-- like if you had a 98.4% chance of surviving something, you'd be like "Hey". -Right. If you knew like I have like a 1.6% chance to die-- -Right. -you'd be like "Whatever, it's fine." -You feel like you have a 98.4% chance of like living in a plane ride or something like that. -Yeah. -You know what I mean? -Yeah. Absolutely. -Absolutely. -Right. -This got in-- -And so-- and what is the lesson here really for us? -The lesson is that you protect your lead in hockey. -Yeah. You play offense. Offense, men. -What should've they-- what should've Toronto done when all the goals started piling up? They're like "Holy shit guys, this game might turn around." -Right. -You call a time-out. -They-- why didn't they? -Why didn't they call time-out? You got one time-out in the hockey game, use it. -Use it. -Use it. -And use it judiciously, I might add. -Unbelievable. And I was telling Ariel before in the-- however many years that this been going on, standing at the playoffs, you know, the longest, you know, playoffs in the history of sports, never once has this ever happened. -It's like the greatest meltdown that you can imagine. -And I thought-- and, you know, what's really good about this? Totally overshadows what happened to the Devils, you know, 9. When they gave up-- -Absolutely. -When they gave up a goal lead-- -Yeah. -to lose in the last -- What? 90 seconds of ball game, Game 7. -Yeah. But you're still watching. You're still a fan. -Oh yeah. -You're watching the game. -I'm going for the Sharks now. -I like-- I think-- -Ariel is about that. -It-- you in? Ariel you're gonna be-- you get to jump on the Shark fan wagon? -Yeah. -All right. -Yeah. Might as well. I'm from the bay. Yeah. -Yeah. -Right. -I pretend like I the-- -I think that's good. -So the Sharks some sight for or they got showed out last night, you know, I think. -Yeah. -But that was their first lost in the playoffs, they start picking outs. -All right. They got a blues. -And then on the East Coast, pick your poison. -No, thank you. -I don't want any of these guys to win. -I don't want any, no. -I mean, I do secretly enjoy seeing Crosby and the Penguins like, it's a guilty pleasure of mine 'cause they are so good. -Right. -And there's a few former Devils on that. It's just-- -Right. Right. -There's something about that. -Well, put it this way, much rather root for the Penguins than the Rangers-- -Not much for Rangers. -or for the Bruins. -Well a lot of Knicks fans are about to root for the Rangers, I'll tell you that, 'cause they are not very long for these playoffs either. -Yeah. Well, you know, the problem with the Knicks and the Rangers, the Rangers of course are special case but the Knicks 'cause their owned by the Dolan's which is-- -Right. -cable-vision-- -Aren't the Rangers-- did the Rangers--? -and the Rangers also but the Knicks really-- This is the first season where you feel like, "Wow, you know, someone cares about this team and-- -Yeah. -not just the money and the [unk]. Anyway, I'm already done with pro-basketball. -Yeah. -So boring. It's like the-- -Yeah. It's kinda weird. -It's could care less. I couldn't care less. -I don't like the-- -And I play, you know, like I-- -Yeah. I don't like that they play music during the games. Is that weird? -Yeah. Very weird. -Is that weird. You know what I'm talking about? -Very weird. -I think the sound effects are weird. -It's just-- like they do like-- -It just stinks anyway. -cheers during the game. -I also hate that. And I also hate that but I hate that at baseball games even in between innings, when they start playing like, "What? I don't need that." -I'm okay with music in between whistles, in between like-- -Yeah. -that make sense; you keep the event rolling on but during the action? -You think that they're playing music at this Google event today? -They are. -Is that right? -'Cause I heard from our buddy Eric Franklin who's out there. -Yeah. -He is crazy. It's like a-- it's like a concert there. -Really? -Yeah. It's a big deal. -So, I came in this morning, everyone, if you're listening on the podcast, you can't see this but I cut out newspaper clippings and highlight them because, you know, I know I'm coming on and I do things like this, the Wall Street Journal. But I was wondering if you could explain to me about this new music deal that Google's launching-- -Yeah. -with Spotify at which of course, I don't use. -Well, it's not with Spotify. -I mean I-- do it as a competitor to Spotify and to Pandora. -Right. So, they are getting major labels on board and they're gonna launch it. You would imagine they would use Google I/O which is the event going out. What's this-- San Francisco, right? -I believe so. Yeah. -Yes, they obviously-- -In the Moscone Center. -they would use this as the, you know, this tent-full event to launch a service like this. You would imagine this is the venue to do it but-- -Right. -it's going on right now as we speak. So, obviously if you listen to this after the fact-- it's kind of-- -Whole games. Whatever. -not being anything but, you know, we already heard that there's gonna be a new version of maps-- -Yeah. -as well, -Right. -which is important because maps is pretty much the best map application out there. Android 4.3 will be rolling out soon, it's already confirmed. And that's kinda it. I think the biggest thing is like the unknown stuff; what are they gonna do? There's gotta be some sort of talk about Glass, as absurd as that product might be. -I saw you wearing them though. You smokin' hot with those on, baby. -Oh yeah. It's like the in-- it's just brings you down like three numbers. -That's great. -If you were a 7, you'd become a 4. -Nice, I love it. -If you're a 10, you're a 7. That's how it works. -But let me ask you something about this music stuff. -Yeah. -Okay. 'Cause, you know, I will pop on Pandora but, you know, only for free 'cause I'm so cheap. -Right. -Why should I pay for something I already have at the music? -Why did you pay it for music, right? Of course. -I mean really, for god's sake. I'm the one of the idiots who still buys from iTunes, okay? So I feel comfortable at that. -That's not idiotic. -But I understand the Google product is not-- they will not be a free version, that they're gonna probably charge something. -I didn't hear that. So, I would believe though-- -Reported by CNBC this morning. -Yeah, I would believe that. I mean, you know, the Spotify free app is good but you get fed a bunch of ads and-- -Is Spotify cooler than Pandora? Might showing the-- -The Spotify-- -like do I have an AOL email address right now? -No, I think Pandora has lost a little bit of its coolness, right? -I think so too. I uses it still every once in a while though but-- -Yeah. -It's good if your-- it's good for a party, right? -Yeah, totally. Just let it go. -You just want throw on music and not worry about changing tracks. -Uh huh. -Spotify, you can build a playlist, you can just listen to any track you want. -Uh huh. -You just click on that track that you play. So it's like this direct instant, you know,-- -Gratification. -gratification sort of thing. -And that's like-- what do they say, ten bucks or something a month for Spotify? -That's how-- Yes. Spotify is 9.99. -Do you use that? -I do and I do pay for that. Yeah. -And you too, Ariel? -I have a free version, I haven't upgraded it. -Yeah. -But I think I will upgrade it. -I use it because I-- when you pay for it, you get the mobile version. And that is just fantastic especially when you go on this freaking-- -Should I do this? -I-95 road trips-- -Right. -and you wanna stream some music. -So you just stream it in your car -- boom. -Right there. You hook them right to the phone. -Nice. -It's pretty easy. Yeah. -I might be the last person who listens to terrestrial radio. -No, I do every now and then but for traffic purposes. -Yes, exactly. -You know, I just want-- -Traffic on whether on the 1s or the 8s or the 7s or the 5s. Yeah. -Yeah. Exactly. I wanna know what the Holland Tunnel's looking like. -That's never good. -Yeah. My approach is always up for debate. -So meanwhile, as Google's holding this tent-full event at the Moscone Center in San Francisco, stocks making a new high. -Yeah, that's a lot of-- is it in here? -Let's just see here. It was up at like over 900. -So it soars past 900. -Yeah. It was like 9-- I think 912 this morning at the high-- -Yeah. -which is pretty amazing, you know, like this is a stock that-- Everyone's talking about Apple, Apple, Apple. For me-- remember when we are here, we are talking about Apple at 705 and, you know, very quietly and consistently, Google's making their numbers. -Yeah. -Expanding. Oh by the way, the poor CEO like has some weird voice affliction. Do you hear that? -Heard about that. -That's so weird like-- -Very odd. -And he's young. -Yeah. -So anyway, maybe he should use like Google voice. -What is that about, right? -I don't know. It's very strange. I happen to circle that article as well. -Did you really? -Where is he? The poor guy-- -Mr. Schmidt, right? -There he is. No, Page. -Not-- Yeah, I mean Page. Yeah. -He said a cold 14 years ago triggered his condition. -So strange. -Are you kidding me? Every time I get a cold, I have to worry about losing my voice. Thank god I got this disability insurance. -So, does he have-- So his voice is completely gone? -No. -Because I only heard about it. -He says, he's got a very rare vocal condition that has weakens his voice. It doesn't affect his day-to-day management. I know you-- -So he just sounds funny. -he sounds a little bit weird. He's 40-years old, he's got vocal cord paralysis after a bad cold 14 years ago, gang. Okay? -I've actually heard of this before. -It's unbelievable. -It's something happens where you lose control of your vocal cord. -Yeah and then it just stops so he is-- -That's scary, man. -I mean, it is really scary especially for people like us because our voice is-- without our voices-- -We're nothing. -I could write but who cares. -Yes. Seriously. -Uh huh. -No one reads anymore. -Damn kids, they don't read. Oh and by the way, another big breaking event that I have to tell you about. -Yeah. -Let's just put this up after, I'll send it to you. -Okay. -I was the keynote speaker at huge LinkedIn Conference. -No way. -I swear to god. And you know how I was like pooh-poohing LinkedIn like-- -Yeah. -a year or two ago. -Yes. -And then I also told you that I got caught stalking. -Yeah. You're a LinkedIn stalker. -I was a totally a LinkedIn stalker until I figured out how to use it. I'm so in love with this company, it's scary. I have now gone 180-degrees from like-- -You're schilling. -Oh, forget about it. It was awesome. I did-- it was a financial services conference. 350 people showed up. -Wow. -It was awesome. -Where was the set? -It was at the Time Warner Center. -Okay. -In New York. -Yeah. -And I was supposed to, you know, it was like financial service companies that used LinkedIn for, you know, HR purposes, like for branding, and to send out things. So I did the keynote address and then-- -What did you speak about? -Like the economy and crap, you know. -Was that the title of the keynote? -It said the economy and crap. -And crap dot, dot, dot. -I will send you two links. I'll send you like their little sizzle reel of the event and then I'll send you my one hour,-- -Yeah. -spoke for one hour straight and I totally undercharge, I might get it. And then I interviewed the guy's number two in-charge of American Express-- -Whoa. -like a fire-side chat. -Whoa. -This guy was awesome. He's like 50- year old-- 50's, been at the company for 33 years. He's so sunk in and sold on these social platforms, that was like exciting to be around him. He's like, "you know, I know you guys all think I'm an old fart but like this to me is the most exciting thing that's happened to our business in so long." -The-- -The idea-- -Improvisation of social-- -Yeah, and then basically that we can reached out to American Express consumers, cardholders, small businesses and launch different ideas through the social platform. It's amazing. You know, you guys here about this thing called Small Business Saturday that usually takes place-- -Yeah. -over Thanksgiving weekend, right? -Right. It's like a-- -It's a fictitious event-- -But they started it. -that the American Express made up-- -Yeah. -and launched on social. -And it's gained a decent amount of traction, right? -Well, I mean, it's pretty amazing, we talked about it-- -Yeah. -which is a miracle. -It's a thing. Yeah. -And they spent no money promoting it. -Right. -It was almost like zero dollars to promote an idea. Here's how it happens, the guy says, "you know, one of my small business guys came up to me and started talking to me about how the small business owners few years ago, so hit hard by the reception,-- -Sure. Sure. -getting crushed. And we'll-- couldn't we do something that'd be cool for them?" That's really how it came up. -Right. -What could we do? -And they're like-- -Let's try to get people into their stores. -Yeah. -And that's how they did it. -And it just caught on. -Viral. -It's really-- I mean-- -That is cool. -that-- those are the stories that I give a crap about. -Yeah. -Right? -I don't care about people like, you know, it sounds like, "Oh we'll try this and maybe it'll catch on." The stuff that people trying, you know, shove down your throat in. You can't force viral. -No. -It's just has to happen. -And the thing that's cool about this is, is that it happens organically. It's pretty amazing because what you're really proving is that you've done something good for your business, a great idea, you've executed it and it has residence with the people who are out there in the consumers. That's what the cool part is. -Yeah. -You're right. If it's like Oh, you're-- have $12 off on this, a $125 thing, is not quite as interesting, right? -Yeah. -But anyway, it was a great event. I'm totally sunk in. I only wish I own LinkedIn stock from the beginning, 'cause all these young people that I met been there forever and they're like, "Yeah. Well, we were here for the idea". -That was a nice payday. -That stock is closing in on $200 bucks a share. -I have this-- and I still don't really get it. I understand the value slowly but surely but I feel like every day I have like 14, you know, connection request. -Yeah -Yeah. Well, who wanna be your connection? -I don't know, a lot of people and I just-- and I'm clicking and I'm like, "where do I make money?" -Right. Right. -"Where's the money button?" -Well, the part-- the money part of that that's interesting is that especially for old farts like me that would-- -Who highlight newspapers manually. -who had newspapers-- who actually have a physical newspaper and write on it. -Where'd you get that, a time capsule? -Yeah, you know, three of them showed up every morning. It's amazing. You know, but for old farts, you know, it's kind of cool is that it feels like a safe place to dip into the world of social, I think. -Okay. -So Facebook's a little bit stalky and "Oh my, I gotta go find my ex-girlfriend or my ex-boyfriend." -Right. -And like who cares, really? It's like almost so big I think that a lot of people are a little mystified by how to use twitter in a way that make sense for them. -Yeah. -But if it's like, "ah here is a safe place I can go kinda cruise and look at other jobs and then find it." -And there's just one focus there. And that's it. -Yeah. And it's-- and they're trying to do more content's stuff. They-- Hey, they asked me to be -- what's called the influencer. -So what is that? Is that the euphuism for like-- -Whore. -You said-- -I do call spade a spade, you know? -Yeah, I know. I mean, I dig it. -So, the influencer, just they get people to blog for them. -Okay. -So you're gonna do it? -So I am totally gonna do it. -Right on. -Hooked up on their platform, ready to rock and roll. I might put up something this afternoon. What do you guys think of this idea that certain-- at certain times of day are better times to post for different kind of platforms. -100%. -You're in, right. -100% -All right. -There's a, you know, I'm sure Nathan, our Social Director guy could get into even more detail with you about that but I think it's pretty much proven. -Well now, right? -Yeah, for sure. Like in-- even on a more generalized basis, we find that stories that get put up Friday-- -That-- -don't do nearly as well as something first thing Monday. -Right. -So it's obviously gets a little more complex than that but even on a very general basis, you can really-- -Uh huh. -tell the difference, you know, just by what time of day. -Now, you know it's also coming up this weekend. So, it's like it is the Anniversary of LinkedIn IP, it was two years ago. But we also have the one year Anniversary of Facebook. -Oh, Facebook. -Oh, Facebook. $38 a share, quickly to $27. I think it-- -It's still a 27? -That might be a 24. I don't-- I haven't looked up at it in a while. -I guess that's not that bad. -Well, it's not that bad considering what the 18. -Yeah. -You know, like that's-- -So it's we need that half to the full. -27-ish. So the low-- the 52-week low seventeen and a half. And of course, the 52-high being 45 that first day of trading. -'Cause it pop and-- -Popped up and then the schmucks who bought in got hammered. -Man, I know so many people personally. -Right. -Oh yeah. -Personally that tried to get it on that. -And they thought it was a sure thing, right? -And no one ever asked me. -No. -No one ever asked me. -No. -All was said was after the fact where they go-- -Right. -"Oh I-- I did buy-- I bought some Facebook." -Yeah. -I'm like, "Well now what? -Yeah. Exactly. -Now what? -What do you want me to do with that information? -What can I-- How can I help you?" -I know. What about, do you know what's going on with Sony? It's a pretty wild story. -We we're talking about this a little before. -There's like this big hedge fund billionaire, guy named Daniel Loeb,-- -Okay. -goes out and basically said-- it acquires a huge stake in Sony. And he says, "You know what I'm gonna do if I kinda get a bigger stake is-- I think we should spin off the entertainment division and really try to figure out how to make the electronic division and the-- a much more powerful thing." -So-- -Right? So entertainment is a small-- I mean, they've got financial services, they've got mobile products, they've got games. So, this will be just the entertainment, spin that off. -So, game is in that too? -Games is not part of the entertainment. -Oh okay. -And then basically, keep everything else. Is a $72-billion company, by the way. -Where does PlayStation fall in the-- -Games, I think. -And yet in-- -Because this-- -So Games is their own-- is its own division. Okay. -Yeah. Games is a division, Devices, Imaging Products, Home Entertainment and Sound, Financial Services and then Entertainment. -So that's like Sony Pictures and all that stuff. -You got it. And then they're like "Oh, let's spin that off, makes some money and then we got this other thing, we gotta actually build up" because you-- as you said when we are-- before we came on the air like a lot of this Japanese electronics' makers have gotten hammered. -Yeah. -And they're-- they need a way to kind of rejuvenate themselves. -And I think in the case of Sony, maybe more so than other foreign electronic manufacturers, the-- they're just almost too big for their own good and I know-- this-- and I've said this before, it's not just, you know, hind-sighted after hearing about this story, they're fragments, they're just like all over the place and it's tough to find, you know, a common denominator with all these branches. -Right. -And dealing with them on the editorial side of things, being in the media, it's just completely, you know, you're throwing in 45,000 different directions and it's just like, "Man, I wish they were much more focus." -You know, meanwhile, there's like great stuff happening in Japan, the economy is starting to take up a little bit. -Right. -We got a much more activist, central bank there that's doing stuff. The stock markets up, the Nikkei 225 is up over 15,000 first time in over 4 years. -That's awesome. -So there's like good stuff happening there and I think this news kinda freaked out some Japanese Officials-- -Yeah. -'cause they're like, "Oh, wait a minute. This dude in the US, this rich guy in the US thinks he's gonna come take over our company,-- -Right. -who dictates what's gonna happen." -He's a lot of pride there too. -Oh yeah. -That a lot of these companies coming out of Japan or, you know, as they should be, they're very loyal and they're very, you know,-- -Right. -full-- fill with pride. -You know, the wildest thing, when I was in Japan a few years ago, I'm talking to this guy and I said, "Oh my god, this sake". I've never drink sake, right? -Never? -Well I mean, not a lot. I'm like-- -Good heavens. Why? -No. -Really? -No but I had a little, whatever, taste here and there. But when I was in Japan, I was like, "Wow, this is awesome. " -Yeah. -And I said, "This taste so different than anything I've ever had." You will love this, they're like, "Oh, we have a policy where the best sake never gets exported. In fact, anything that's like the best of Japan does not get exported. -Wow. -It stays here, domestically." I'm like, "That is so crazy", like of course Americans were so capitalist; we'll be like screw the domestic market,-- -Yeah. Yeah. -like let's make as much money as we can, put the best stuff out there and make-- and do it. Not so in Japan. -See? And that completely exemplifies what they're doing with, you know, the way these companies feel. -Right. -They're just like "No, you know what, we're gonna roll through this." -That's it. So, anyway we'll keep an eye on Sony. -It's totally like the Nintendo. -Remember your first-- remember your first Walkman? -Oh man, I-- -What you have? What was your first one? I know what I have. -I mean I have the Walkman, obviously. I also had a Watchman, it was a TV. It was a mini, mini TV. -What? -Yeah. You guys aren't growing up. Black and white, 2-inch television-- -Wow. -with an antenna. -Ah you were cool. -It was a portable TV. -Yeah. -It was a portable TV and you-- and had a vol-- it had a tuner rocker-- -You know, I should've-- -knob, or whatever. -but here we are, I couldn't probably find it. -And yeah, I forget exactly what the hell it was-- -Think you can find that. I had an Aiwa. -I had it too. -And it was like-- How big was it? It was probably this big, right? Look Ariel, like this big round? -Yeah, like a mouse pad. Wait. -Like a mouse pad. -What was that called? -An Aiwa. A-I-W-A. I don't even know if that company exists anymore. -If you can pull this out Ariel, check this out, here's the Watchman. -Oh look at that. Man, you were a-- that's a smokin' hot. -That's insane. -That's exactly the model I had. -Now look at-- -It wasn't mine, it was my dad's. -You got-- Really? -And also just, you know, I think the battery lasted all of 14-minutes. -Yeah, it's great. It's perfect. We got through one segment-- -Yeah. -of the Laverne and Shirley. -Yeah. You basically got to watch up until the commercial and then you had to go find a real television. -That's great. I like that. -Yeah. -Well, if you look up the Aiwa cassette, I don't even know what-- what was it called but it was A-I-W-A. -Uh huh. -And it was like the, you know, one of the very first-- I remember, I brought it-- -Was it this one, right here? -Hold on a second. Is that it? -Yeah, it looks something like that. Yeah, it looks something just like that. -'Cause that really-- -That's massive, right? -Yeah. That's big-- -Look how big it is. -I mean,-- -It's like carrying this telephone. -Yeah, around with you, like clipping an entire telephone receiver to your belt. -Right, a corporate one, not like a cool one, right? But it-- I will say that it was all the rage. And you know what, I remember I got it from my high school-- I think I got it from my high school graduation? -Uh huh. -I don't know what year that was. Maybe, it was college graduation. It was-- it maybe in college graduation. -Did you have this Discman? -I had something like-- -Did you have the Discman? -I never-- yes, but that was later, that was when I was cooler. -Everything got "man" with them. -That was much later. I did have a Discman. I just want you to know that my Aiwa thing, people like were lusting after it in Europe. -Yeah. -When I was travelling around Europe. -Really? -And by the way, it cost $200, I remember that. -That sounds right though. -It's huge, right? -That sounds about right though. -oh my god. -I remember a VCRs. -Right. -When I was very young and my dad like got a new one. I remember it was like 600 bucks. -You know what, we-- Yeah. We had a VCR but before that we had a Betamax. -Did you really? -Oh yeah. We had a Betamax. -I don't know if my parents had that. That was little before my time. -And my-- you don't remember this but-- and you guys probably young, but I'll-- we had 8-track tapes in our car. -I know all the 8-tracks. -And boy, let me tell you, I remember my father with his Sinatra, Best of Sinatra 8-track tape. -I bet. -Plus he was kinda cool; he had a little Gladys Knight & the Pips. -Not-- well, you know, you-- -You gotta be cool. It's 70s. -have clicked that field in music. -It was the 70s. Right. -It was a crazy time. -Was. Wife swapping. -That's so funny. I've-- It's so-- I didn't know it was that crazy. -You never heard-- you ever heard about that key parties that they used to have in the suburbs? -Of course, with the punch bowl. -Yeah. -Yeah. Everyone throws their keys in there. -So, I say to my parents, what-- -Do you have some experience in this? -No, I asked my parents did you ever go to a key party. My father says, "What the hell is that?" -Yeah. -And so, I describe it to him, he goes, "That wasn't happening when we were doing our parties." -Yeah. -You wanna hear some really weird-- I think I brought up this story before. But where my-- where I grew up, the house I grew up in New Jersey. -Yeah. -We were one of the first families to move in and like my generation. -Uh huh. -You know what I mean? So, we move there in the 80s and all the-- and then there was like one family that was like the last family to leave, right? -Uh huh. -And I remember we had, like a block party and that-- we've become friends with all the new people that moved in and my brother's best friends with everyone. We're all good friends and the people who were like the last one's left, they were in like they're late 60s-- -Uh huh. -and they were telling us stories about who used to live in the house as we now hold, right? And they were telling us a story about this weird mail box game that they did. -Oh my. -They must've gone to some, like must happen one night where they all got wasted-- -Yeah. -then things got weird. -Yeah. -And apparently, they would like leave keys in each other's mailboxes to do nasty things. Isn't that-- isn't that crazy? -It's an invitation. -I love that. -Yes. So they were like four houses in on it. And my-- one of the houses was mine. -Was yours. -Yeah. -Wow. -That's interesting. -So like-- so we were like-- after we found that out, this is like probably early 2000s, we'd like went back into the house and like "My god, if these walls could talk." -Walls could talk. That's right. -Right? -Your parents were thinking back to the closing and say-- -Right. -"No, they didn't seem like that kind of couple." -Exactly. Exactly. And I remember visiting the house before we bought it. -Yeah. -And just, you know, and having that imagery in my head now, these people is just very upsetting. -That's a-- it's a, you know,-- -Right? -sometimes, you just don't want the image. -No. -Right? -I was like could have done without that one. -Yeah, thanks so much. All set with that. -Yeah. Thanks. -What else you have to cover? -There's a few things I wanted to bring these weirdo story up before we get into your questions. -Yeah, go on. -So, this is something that came out of MT-- Michigan Technical University. -Yeah. -Right? -They-- an engineer there, a student engineer has developed a patch that you put on your skin-- -Yeah. -that will tell you when you gotta get out of the sun, right? -Really? -So, I can appreciate this because I am the palest person on earth. -Look at that. -Yeah I think this is just like stock photos of some schmuck-- -Really? -that you should put on some more sunburn lotion. -Right. Very white girl. -Sun to sun block. -A Norwegian girl. -Yeah. -So apparently, what this does, it's a biomedical patch imprinted with a graphic. Okay? -Yeah. -The prototype they put together was a happy face, size of a nickel. The patch gradually darkens as your skin would in response to tanning with the sun. -Right. -As that patch darkens and the smiley face goes away. -Out. -Second you can't see the smiley face anymore; get your ass out of the sun. -Probably be like 20-minutes for you. -For me, well that's the thing, I would need like a super sensitive one. -Right. -What I don't understand is like how does this work for people who are uber sensitive to the sun. -I think like-- -You know what I mean? Like I get it, like I won't die, right? -Right. -You know, but it's just-- its gonna get me out of the sun but it's not gonna get me out of the sun before I get sunburn. -Or it may get you out of the sun or maybe be good if it could tell you, like Oh, reapply your suntan lotion. You went into the ocean, it washed off or something. -No. But I don't need a freaking patch to tell me I need to reapply every 40 minutes. -Really? -'Cause that's what I would do. -Is that what you do? -You don't understand, what I go-- -What number do you use? -I-- 50. It was-- -Yeah. 50. And you know what, my friend's a dermatologist and she's like, "You know, you could throw out everything 30 and below." -Yeah. -That's not worth it. -And I don't know. I go to the shore every year, I go to Ocean City and I just I-- to me-- -What about the Rash Guard? Do you have-- you gotta a little like, you know, what that is? -No. -Oh my god. -When I go into the water? -Yeah. -It's like a wet suit? -Like a-- it's not a wet suit, it's like a UV protected t-shirts. -Yeah, I've done that. -You gotta hook yourself up that. -I've done that because I used to wear those when I was kid 'cause I hated putting on lotion, and went around with like Boogie Board in the Ocean. -Yeah. -You-- my whole, like chest will get scratch to hell from all the sea shells-- -Yeah. -that you would rub up against. So people in like mid-land states are like, "What the hell are they talking about?" -Right. What are they talking about for god's sake? -But there's this whole big issue going to the-- but to me I just don't understand why people go to the beach. I think it's terrible, the whole sand and the whole thing. -You don't like the beach. -Hate it. -Really? -I like Boardwalk, hate the beach. -Okay, that's cool. You don't like the water,-- -Anyway, that's my-- -you like to see the water. -I get it but Larry David had this in one of his Curb Your Enthusiasm episodes. Look, I get it. It's the water, the waves come in, it makes a nice noise. -Yeah. -You see one beach, you've seen them all. -Yeah but some are better than others. -When I was down in the DR, I was like "Wow that's super clear. That's awesome." -Yeah. -You know, you get people naked. -How much time do we have because I had to tell you one funny story? -We got about like 15. -Oh no problem. Okay. So, I gotta tell you the dopiest Aunt Jill story in the universe. -Okay. -Okay. Are you ready? Get ready for this Ariel; you might wanna, like make this a separate segment. -Yeah, okay. -So, it's my girlfriend's having a big birthday. I'm taking her away. Next week, we're supposed to go to Italy, right? -Okay. -And getting stuff laid out yesterday and, you know, trying to get my packing done and I'm getting all-- everything organized blah, blah, blah. And I said, "Oh look, there's a reservation". I didn't actually print out, you know, usually I print out the confirmation and the airline ticket then suddenly I seem like, "Where is that? I guess I didn't print that." Now I go to my computer. Well where is that? I looked at the reservation and it says, I had made it through American Express-- -Uh huh. -and it says basically, "This is a reservation. You have to call us by March 31st to buy the ticket." Okay, like I thought I bought the ticket. When I called yesterday, there's no reservation for Jill. -Oh no. -Aunt Jill has no reservation and she think she's leaving next week. I cried on the phone. -No. -I cried. I am not kidding you. I was like, "Geeta", it's in the call center, and she-- and I said "Geeta, like oh my god, I'm freaking out" I'm like completely went insane. -So, what did Geeta do? -Geeta was so patient with me and so nice and it was like 45 minutes and I got rebooked and the only difference was-- -Wow. -that I had to leave a date earlier. Poor me. -Oh all right. -And I had to pay up. -Okay. -But you know what? I paid up. -But you got it done. -I got it done. I was exhausted by the time I got off the phone. -I imagine. -So I call my girl-- -That's another deal; it takes a lot out of you. -It so does. And there was no one to blame. -Yeah. -Like I did it. -It was-- -It was completely on me. I mean, I'll never make that mistake again. -For somebody said that they-- you were still able to figure it out though. -God, it was crazy. So my sister is like, "You know, isn't it weird that they never sent you like a 'Hey,-- -Yeah. -don't you want this ticket? -Don't forget. -That there's a big ticket they booked, don't you want it?'" -Right. -She said, "Isn't that weird, they didn't do that?" But I guess, that would be, like too much. I don't know, maybe you could automate it but it was just very strange. -Why wouldn't they send you a reminder? -I don't know. -Seems like that seem-- that's like the right way. -You would think-- -Usually how it works with these things. -You would think like, "Hey, your ticket's about to expire." -Yeah. -But I guess, it's like-- it's too much 'cause so many people make these reservations hold them, they don't wanna deal with it. -Right. -I don't know. I literally was like hysterical. Then I call up Jacque and I'm like, "You not gonna believe what I just did." And then she was very cute. -You relive the whole thing. -I do relive the whole thing. I will not tell my mother because that would be-- -Don't. -because, you know, that Susan's gonna be all over like, "How could you do such a thing?" -Yeah. Yeah. You know, you don't -"That's so stupid." -How many times do you have like these near death-like things happen, not near death but like just totally awful things and you just make it work-- -Yeah. -and you only decide to tell certain people. -That's right. Exact-- I call my sister immediately. -Yeah. Yeah. -I'm like, "Oh my god, I just did the stupidest thing." -Yeah. Would that be doing what I did, and in the last person in your mind will be like "Oh I'm not telling my mom." -No way, you'd never gonna tell your parents. -'Cause they hold it against you forever. -Yeah. And they'll just be like, "Don't forget, that one time." -Yeah. Exactly. -All right. Time for a-- listener questions and answers with Aunt Jill. -Yes, here we go. -Let's see what you got. -William, is a 17-year old high school senior. How about that? He has got-- -Is that your youngest listener? -It maybe. No I have like-- remember I had that musician kid, he was like 16. -Oh right. Amazing. -That was right. -From Grand Rapids. So he just made-- he's got college, it's 50-grand. He's gonna get $31,000 in merits scholarships. -Right on. -So he's gonna owe about 18, 19,000. His parents are gonna pay 15 grand a year but the school needs all of the money up front, right? So, he wants to know "should we actually take out a loan for that full amount or, you know, maybe my parents can pay some, I can pay some." And so, the sort of planning is how to serve-- it's very hard for college. So, what I would say is if you can get a subsidized loan through either of the college, the federal government so-- or that's a Stafford Loan or the Perkins Loans, take it out, take as much as you can get. They're really good, they're cheap, they're probably gonna drop it back. Keep at it. Right now, they're 3.4%, they're probably gonna go up to 6.8% at some point but not this year, so I would get that money out and if they have to take it all out at once and then, you know, you guys do something between the two of you, that's better. But Federal Subsidized Loans, not Parent Loans, the PLUS Loans, not Private School Loans. Take as much money as you can through a Federally Subsidized Loan. That's what I would say. Okay, check this out. Dave is writing, he says, "Aunt Jill, I'm writing to you on behalf of my parents. They're in their early 60s. Dad has a great job, he makes a 135 grand a year but they built up a lot of debt." Check this out $250,000 house. They got a mortgage and a second mortgage. They have about a $175,000 of acuity in their house. -Okay. -Okay. They got a boat, 10 grand. They got cars worth 16 grand. -That's a cheap boat. -I know, it must be small. It's got a little pot pot. It's a pot-pot. -Is it a Wave Runner? -I don't know. It's a big Wave Runner or a very small boat. -Right. -The cars worth about 16 grand with $11,000 against them. -Okay. -Car loans. Four in one case got 4-- 50 grand. Get ready for this one. Student loans, $250,000. -For him. -For him-- no. He's-- it's in his parents' name. -Oh right. Okay. -So it's him and his siblings. -Quarter a million dollars? That's a-- -Quarter a million dollars. That's insane. -What the f--? -I know. And credit cards debt, by the way. -And does-- it sound that they're-- -They're doing all right. -They're doing okay but then you add on that certain numbers. -If they didn't have-- so, and they've got credit card debt. So he says, you know, these-- "my parents took on these loans to help us through college." -Yeah. -All right. So now, he says, "I don't know if there're Federal Loans or not, my parents are worried." But check this out, this cracked me up, I laughed out loud. "My parents are worried that future long-term care would eliminate any type of inheritance for the kids." Inheritance? -Are you kidding me? -Dude, your parents are drowning of their debt. -Yeah. They're in debt. -That is just not happening. -Only you got to inherit is possibly their debt. -Their debt. Exactly. "They brought up the idea of transferring their house to one of us." Terrible idea, I'll get to that in a second. "Is bankruptcy an option?" No, you know, that Student Loans are not released in bankruptcy. You still owe the money. So do not go broke. -I know we talked about this all the time but what the hell is the shit can hit the family with this? -Very sad. It's a, you know, the most-- the government came out Federal Reserve Bank at New York, just came out, outstanding Student Loan Debt is 980 billion dollars. -Okay, cool. -That's nearly a trillion. -Right, nice. Nice. -So, here's the thing, number one, you-- so remember that you going to-- through the bankruptcy is not just gonna help you. -Right. -Because that you cannot default on these loans. You are-- especially if they're Federal. If they're federal, you can't default 'em. If they're private, you may be able to but if they're making all the payments in between you and your sibling and your parents, you're chipping away the debt, then so be it, than just keep hanging it. -Right. -But the reality is, I don't think the bankruptcy is a good option because his father does have a good job and they are actually seem to be keeping tracked with paying it off and the kids are just gonna have to deal with it. As far as long-term care, forget about it. This is not a problem. -No. -If they got a long-term illness then there, you know, someone's gonna sell the house and they're gonna qualify for Medicaid and that's that. The problem with transferring a house, just so we're clear, let's say that Jeff and I are married, and we transfer our house in New Jersey to our son Ariel. -Right. -Now, what happens, is Ariel inherit it-- has a house, we just say-- let's just say it's worth half a million dollars. Let's say Jeff and I bought that house 30 years ago for $50,000 or a $100,000. So now, when Ariel gets gifted that house while we're still alive, it's as if he bought the house at a $100,000. So his cost basis is a $100,000 and if he were to sell it, he'd have a $400,000 gain. Now, let's contrast that. If we drop dead and he inherits the house, his cost basis is whatever the date of death value is. -Right. -So no transferring houses. -Yeah, don't do that. -Not good. Not good. -That's a great example. That was pretty easy to understand. -Yeah. Sure. -See that? Okay. Kristen's 20 years old. Now, by the way, Kristen sounds like a gorgeous girl in my-- -Yeah, you can just tell by the way she writes? -Yeah. "I'm 20 years old and I am a student. I've got $26,000 in savings." She's sounds good-looking to me. -Yeah. That's all ready? -I have a-- -Are you sure it's a girl? -Kristen, not Kris. -Oh Kristen, I heard Christian. -Kristen. And she got a corporate internship this summer, she's gonna make 7 grand after taxes-- -Rock and roll. -for her summer job. -That's great. -She's got minimal living expense, 100 bucks a month. School is fully funded with scholarships; perhaps our friend Dave could've gotten scholarships as well. -Yeah. Kristen, what the hell you're writing in for? You got it all made out. -"I would like your advice as to what to do with the money I earned this summer?" -Oh okay. -She wants to have it, you know, basically make money for retirement, she says, "I could either put $5,000 into a Roth", actually you can put 55,000 into a Roth, "or I might put it into my 401(k)? So are either of these are smart move?" So the first question is, if the company matches, your 401(k) contribution-- -Can do that. -can do that. -Yeah. -If not, then just open up Roth IRA at Vanguard, put you 55,000 bucks in. Rock and roll. -Yeah. -And get going there. All right, this is funny. Oh so, [unk], which I like the name, just saying that and read it. -I like that. That sounds cool. -Is it wise to contribute to both Roth and the traditional 401(k)? So that's a good follow up question. Again, if your company matches, you use whatever vehicle they match in. So do it, do that way and if you're young and you're not making tons of money, use the Roth for the rest of the money-- -Right. -because remember, the Roth money, you pay taxes on it already, it goes into the account. If it grows and grows and grows, if you're $100 turns into $1000 and you take it out later, no tax in. But money that you put into a 401(k) or 403(b) or 457 plan, all these employer-based plans, those you have to pay the taxes on it when you take the money out. Okay? So, that's the deal. -Does that one-- does that tax rate ever change or so it's like a set of been-- -Well, it's all based on your tax rate. -Okay. -So, if you're in a low tax bracket today, and then you take it out later and you're on a higher tax bracket? Not such a great deal. -No. -Right? That's why when you're younger and you're making less money, it really is better to use a Roth but you don't wanna give up the match. -Right. -So, there you go. -Okay. We got time for like one more. -Oh no, I gotta two more. Stevie is 33, he's married, he's house is paid off. Financial Advisor-- this is a tweet, that was like 6 tweets. "Financial Advisor wants us to take out a mortgage on her home to invest. Is that a good idea?" No. -Simple. -Simple. He says I like being debt-free, da da da. The reason why it's not a good idea is this guy makes 40 grand a year. -Uh huh. -He has no debt, why would he put himself in the position of accumulating debt-- -Right. -when he's making 40 grand a year? -Yeah. That sounds silly. -Leave it. No. And by the way, that advisor, I don't know, I think he wants to sell you something. Bulls96, is a guy's twitter handle. -Living in the past. -Yeah, I know, I've been there baby. Glory days. Term versus Whole Life. Explain. Oh my god this is fast. He's 32, he's married, he's got 2 kids, he's got-- he'll have a mortgage, he's got Term Life Insurance that is free through work. Bulls96, chances are 9 times out of 10 people need Term Life Insurance. It last for as long as the Term is in place. So, if you have 20-year Term Life Insurance, and you die in the 21st year, your family gets buckets. -Yeah. That's-- -But that's not so terrible. -That's not terrible, that's the Term. That's how the Term, is it? -That's all you need. If you-- a great calculator for life insurance needs for everybody, lifehappens.org. -What a weird-- that-- I don't like the name of that site. -I'm sorry. -Life happens. -Life happens. -It's just really like shit happens. -Exactly. -And I don't like what they're saying there. -But it's-- I understand. Life happens-- -Okay, you know,-- -You know, I gotta tell you a great story. -Get on that train. -I'm-- I was out to dinner last night with a friend of mine who's had a very tragic life, his wife is murdered in New York City. -Oh my god. -And he was telling us, we were having like funny bad therapy stories. -Oh my god. -So, we were all going at the table, and he's like, "Oh please, you kidding me?" he was like, "I tell the story of like how my wife was murdered, how I discovered her body" and it's so while ago, so he can talked about it. And he says, "Some therapist looks at him--" -Yeah. -and says, 'Andy, you're gonna have to get over this, you know, S happens.'" -Yeah. -He said that. That's what the therapist said to him. -Sometimes, you know what though-- you know what, I've heard about this sort of stuff, like some people just need that, what he said to him. -That's-- he said it was the most valuable thing that's somebody say, he went to like five different therapists 'cause he was despondent and, you know, he couldn't get in his act together. He goes, Oh my god this, like little, like old Jewish lady, like Dr. Ruth Westheimer-- -Yeah. -said to him, "you know,--" -It happens. Life, it happens. -Life happens and you gonna have to figure it out. -Well that's the thing though because it's a 100% right. -Uh huh. -You cannot change the past. -You can't. -You can't and that's-- -And you can't figure out something that it's not explainable. I hear people were like, "Well that's God's, you know, way." -No. Don't-- stop--" -Really? God didn't want that. -Don't blame it on something you can't see, smell or touch. -Right. It's just like I can't explain it, it's terrible, let's move on. -Right. -All right. Anyway, I thought that was a good story. -That is a good story. -My website is up and it is running and it is called jillonmoney.com. -So make sure you check that out. -Wanna go check it out right now? -You can do-- we'll do that for you right now. -Do that, right there. -Also don't forget you're also posting our shows-- -Oh yeah. -over there too. -Oh absolutely. -All right. Here it is jillonmoney.com-- -Yeah. -as it loads up and all of its glory. -In all of its glory. -There it is. -There it is. Oh look at her, she's pretty, right? Not bad. It's a good picture. -I'm digging the style. -You like it? -Yeah. It's good stuff. -Oh my god. And I have to tell you, I got this nasty email from one of my-- one of the guys from CBS, he's like, "The font is too small." I'm like, "you know what, you're 65 years old" -Yeah. -"And stop reading on your phone" -It's called shift plus. -Do I-- do I need-- Can I ask you a question? -It'll make it bigger for you. -Before we go and chat room [unk] on this. Do I need an app? Like why would I need-- Do I need to have my-- Do I need to have an app for my website? -I don't think you necessarily need an app, unless you're like selling something. -I'm not. -You know, I don't-- -I mean if people go into my website on their mobile phones, I mean that would be nice. -I mean is your site mobile-friendly? I think that's more important than having an app. -I don't know. I don't know, really. -Check that out. -Okay. -Ask your web guy. -All right. -I'm sure it is. -All right. -You know, I feel like that comes and-- -Yeah. -in it, part of the package. -Yeah. Anyway, if you have questions, always @jillonmoney's twitter and-- -Yeah and follow her twitter to. -ask Jill @jillonmoney.com. -There you go. -Rock and roll. This is so much fun. -I know. -I can't even believe Justin's not here, it's sort of sad. I think he-- -Well, I kinda didn't even notice it today. Kidding. But when are you gonna come back because I'm gonna-- I feel like you're scheduled to come back when I'm out in LA for 83. We'll figure it out. -We'll figure it out but I'll be back. -You'll be back and forth. -Yeah. -All right. -I mean, it is so great, and you guys are always the best. And 404 fans, I just wanna say honestly cannot be more excited, when I was at the LinkedIn Conference, I talked about the 404. -Oh no way. -I literally said, "Let me explain to you the power of social media, let me explain to you what happened in my life-- -Yeah. -knowing these guys who literally, like drag me into this era-- -Yeah. -kicking and screaming and how wonderful their fans are and how I love to hash tag auntjill." -Yeah that's the best. -Nothing better. -Cool. -Right on. -Yeah it's great. -Well thanks for being here, always a pleasure. -Yes it is. -Sorry about the Islanders. -You don't have-- -You'll get them next year. -Yup. -All right, that's gonna do it for us 866-404 CNET is the phone number to call. Tomorrow, last show of the week, all right? Little short week here with three shows but we're back on Monday for good. So one last show tomorrow and Justin, everyone, will be back on Monday. You got the number, firstname.lastname@example.org <mailto:email@example.com> is the email address. We'll see you tomorrow, I'm Jeff Bakalar. -I'm Aunt Jill. -I'm Ariel NuÃ±ez. -This has been The 404 Show High-tech low brow. Have a great Wednesday. We'll see you soon.