WEBVTT - Shopping, Solving Teacher Shortages, Wine Investing 0:00:01.400 --> 0:00:04.120 Welcome to the Bloomberg Markets Podcast. I'm Paul Sweeney, along 0:00:04.120 --> 0:00:06.200 with my co host of Bonnie Quinn. Every business day 0:00:06.240 --> 0:00:10.400 we bring you interviews from CEOs, market pros, and Bloomberg experts, 0:00:10.440 --> 0:00:13.600 along with essential market moving news. Find the Bloomberg Markets 0:00:13.600 --> 0:00:17.000 Podcast on Apple podcast or wherever you listen to podcasts, 0:00:17.000 --> 0:00:21.440 and on Bloomberg dot com. You are listening to Bloomberg 0:00:21.440 --> 0:00:24.360 Markets on this Black Friday. And it is the season 0:00:24.360 --> 0:00:26.400 for holiday shop and we know though this year it 0:00:26.520 --> 0:00:29.200 is not about doorbuster deals. This year it is about 0:00:29.720 --> 0:00:32.519 shopping in a social distancing world. And Paul, I know 0:00:32.600 --> 0:00:34.800 you and Bonnie Quinn talked earlier with Danna tell Zy. 0:00:35.560 --> 0:00:38.599 She said the consumer is pretty healthy. Yeah, exactly right, 0:00:38.640 --> 0:00:41.519 and they're looking forward despite all the craziness in the 0:00:41.560 --> 0:00:44.919 world here, the consumer does have some liquidity as well. Yeah. Well, 0:00:45.000 --> 0:00:46.720 let's let's get to somebody who's got a front row 0:00:46.720 --> 0:00:49.520 seat on all of this. Jim Fallon is editorial director 0:00:49.520 --> 0:00:51.880 of Women's Wear Daily. He joins us on the phone 0:00:51.960 --> 0:00:54.960 from Terrytown, New York. So, Jim, great to have you 0:00:55.000 --> 0:00:57.640 here with Paul and myself. The Westchester mall not too 0:00:57.640 --> 0:01:00.400 far from you, guys, but as we are hearing colleagues 0:01:00.440 --> 0:01:03.040 are sending in there talking about the malls and Riverhead 0:01:03.080 --> 0:01:05.920 and so on and so forth, the outlets, everything is 0:01:06.040 --> 0:01:08.480 very quiet. It's a very different Black Friday this year, 0:01:09.160 --> 0:01:11.800 extremely different. And I think it's going to be a 0:01:11.920 --> 0:01:16.800 very different holiday season overall. I mean it's if any 0:01:16.800 --> 0:01:19.880 time is going to be an online holiday, this is 0:01:19.880 --> 0:01:21.920 the year. And the question is will it ever go 0:01:22.000 --> 0:01:25.360 back to what it used to be? So Jim, I think, 0:01:25.360 --> 0:01:27.080 you know, I think it was. As we've heard from 0:01:27.560 --> 0:01:30.440 retailers really over the last several years, we've heard about 0:01:30.440 --> 0:01:33.360 this concept of omni channel kind of you know, being 0:01:33.480 --> 0:01:36.640 online bricks and mortar, you know, talk to us what 0:01:36.760 --> 0:01:40.160 omni channel means to you and how we're seeing that 0:01:40.240 --> 0:01:43.960 play out this holiday season. Well, they were omni channel 0:01:44.040 --> 0:01:48.320 basically is now utilizing your brick and mortar assets in 0:01:48.360 --> 0:01:51.840 a way that is going to pretty much drive traffic 0:01:51.880 --> 0:01:54.600 to your website. I mean, I think Deloitte or um 0:01:55.280 --> 0:02:00.240 Adobe predicted a hundred and six increase in UM buy 0:02:00.280 --> 0:02:03.960 online pickup in store curbside pickups. So you're seeing Walmart, 0:02:04.040 --> 0:02:08.160 you're seeing Target, You're seeing all these retailers really using 0:02:08.200 --> 0:02:12.560 their store based to fulfill orders from online, especially with 0:02:12.600 --> 0:02:15.600 the surgeon online orders and worries over delivery and things 0:02:15.680 --> 0:02:20.160 like that. So whereas omni Channel used to be, oh, 0:02:20.280 --> 0:02:22.400 you know, we have our store and we also have 0:02:22.440 --> 0:02:25.440 our website and we're bringing the two together. Now, it's 0:02:25.480 --> 0:02:28.800 really how can we use our store base to fulfill 0:02:28.919 --> 0:02:32.400 orders from online? And yes, customers might come in, but 0:02:32.480 --> 0:02:35.080 not in the numbers that they used to. Yeah, I listen. 0:02:35.120 --> 0:02:37.720 I gotta say to you, I've done a lot of 0:02:37.720 --> 0:02:40.839 shopping already and the packages, as I've warned our team 0:02:40.880 --> 0:02:42.520 today that I've got to listen for the door when 0:02:42.520 --> 0:02:44.679 packages are dropped because we have some porch pirates in 0:02:44.680 --> 0:02:46.480 the neighborhood, so I've got to be careful and get them. 0:02:46.960 --> 0:02:50.560 But what's interesting to know your neighborhood. It's a good neighborhood. 0:02:50.560 --> 0:02:52.560 It's just they know. The packages that are delivered are 0:02:52.600 --> 0:02:56.400 really good too. Um. But what's interesting is when I order, 0:02:56.600 --> 0:03:00.079 I think about what's the exchange policy, how easy it 0:03:00.240 --> 0:03:01.919 how much is it going to cost for shipping back 0:03:01.960 --> 0:03:05.160 and forth? Because I love shopping online, but I'm often 0:03:05.240 --> 0:03:08.360 ordering multiple sizes and doing things like that. But I 0:03:08.440 --> 0:03:12.200 look at the store policies and that really determines where 0:03:12.240 --> 0:03:15.720 I shop a lot. Now, No, that's that's a very 0:03:15.760 --> 0:03:17.840 good point. And I think consumers are going to become 0:03:17.840 --> 0:03:22.160 more and more wary and informed about those types of things. 0:03:22.240 --> 0:03:26.440 And also the key crunch point is the delivery times, 0:03:26.639 --> 0:03:29.280 and you know, I think predictions are now that pretty 0:03:29.360 --> 0:03:31.640 much December eleventh is going to be the cut off. 0:03:32.480 --> 0:03:35.080 I keep hearing different opinions. On the one hand, a 0:03:35.120 --> 0:03:37.760 lot of people say, oh, consumers are much more forgiving, 0:03:37.840 --> 0:03:41.160 they recognize the crunch on retailers. Uh, and so if 0:03:41.160 --> 0:03:44.040 packages don't arrive on time, they're much more forgiving. And 0:03:44.080 --> 0:03:47.680 I keep thinking to myself, they're forgiving until DECEMBERY when 0:03:47.680 --> 0:03:50.160 they're waiting for that one gift for their left one 0:03:50.320 --> 0:03:54.680 that's not arrived. And then, um, so I think it's 0:03:54.680 --> 0:03:56.839 going to be a lot of pressure on retailers this year, 0:03:56.840 --> 0:04:01.160 particularly the logistics systems. And again the benefit is how 0:04:01.240 --> 0:04:04.000 quickly they can leverage their store bases to fulfill those 0:04:04.120 --> 0:04:07.920 orders and drive the consumer to the store to pick 0:04:08.000 --> 0:04:12.960 up the product, because again that gives the retailer bigger margin. Um. 0:04:13.040 --> 0:04:15.200 You know, the key the key question of this holiday 0:04:15.280 --> 0:04:16.839 is going to be yes, growth of online, but what 0:04:16.880 --> 0:04:20.080 are the margin's going to look like? Yeah, I was wondered, Jim. 0:04:20.120 --> 0:04:22.119 You know we're seeing boxes pilot outside of to pretty 0:04:22.160 --> 0:04:24.599 much everybody's door up and down the street here. Talk 0:04:24.640 --> 0:04:27.120 to us about luxury. I mean, if I'm going to 0:04:27.200 --> 0:04:30.480 spend a lot of money on a luxury watch, does 0:04:30.520 --> 0:04:34.039 that also work in an etail e commerce type of environment? 0:04:34.160 --> 0:04:36.200 Or I want to or do you find consumers want 0:04:36.200 --> 0:04:38.200 to go to the store, look at it, hold it, 0:04:38.240 --> 0:04:41.279 feel it, all that kind of stuff. Surprisingly, the luxury 0:04:41.320 --> 0:04:45.080 players are saying that more and more consumers are shopping 0:04:45.120 --> 0:04:49.320 online for those very high priced items. It's also forced 0:04:49.320 --> 0:04:53.120 those luxury players to offer those items online because luxury 0:04:53.200 --> 0:04:57.760 very much to your point, was kind of snobbish about 0:04:57.760 --> 0:04:59.919 a lot of things, but very much snobbish about the 0:05:00.040 --> 0:05:04.400 online experience. They thought the consumer wanted that personal touch, 0:05:04.560 --> 0:05:08.600 personal service had to be in the store, etcetera. Now, 0:05:08.720 --> 0:05:11.480 because consumers haven't been you know, stores were closed, they 0:05:11.480 --> 0:05:14.240 didn't have access to those consumers. So they were setting 0:05:14.279 --> 0:05:17.240 up a lot of online shopping, a lot of video 0:05:17.320 --> 0:05:21.400 conferencing type shopping. Um and you know, the retailers I've 0:05:21.400 --> 0:05:24.960 spoken to have said They've sold jewelry worth hundreds of 0:05:25.000 --> 0:05:29.160 thousands of dollars via video conference and just then drove 0:05:29.200 --> 0:05:32.320 it up to the woman's house and dropped it off. 0:05:31.680 --> 0:05:34.400 So this is what I think. I think this is 0:05:34.440 --> 0:05:37.800 something that's really dramatically different. We caught up at the 0:05:37.800 --> 0:05:40.159 CEO of Watches of Switzerland and they talked about how, 0:05:40.520 --> 0:05:42.760 you know, the whole idea of online shopping shifted to 0:05:43.440 --> 0:05:45.920 we were you know, thank you Zoom and all these 0:05:45.920 --> 0:05:48.800 other platforms that we were setting up, you know, sales 0:05:48.839 --> 0:05:52.159 personnel with customers online and doing you know, like we 0:05:52.160 --> 0:05:55.919 would be at a counter right like the shifting you 0:05:55.960 --> 0:05:58.800 know that we moved to that, you know, changing kind 0:05:58.839 --> 0:06:01.159 of how we shot and that that is something that 0:06:01.160 --> 0:06:03.960 will probably stay with us. And I think about that 0:06:04.000 --> 0:06:07.000 how important that could be for especially luxury goods, very 0:06:07.080 --> 0:06:09.440 much so. And as they said, I don't think it 0:06:09.480 --> 0:06:12.560 may slip back a little bit when hopefully the vaccines 0:06:12.720 --> 0:06:16.000 take effect and people are protected against the virus and 0:06:16.000 --> 0:06:18.960 so forth. But this behavior is a fundamental shift in 0:06:19.000 --> 0:06:21.279 the way everybody is going to shop. And I think 0:06:21.279 --> 0:06:24.640 it's the combination of convenience, if you can get that 0:06:24.760 --> 0:06:28.880 personal service, even via Zoom or whatever. Then you might 0:06:28.920 --> 0:06:33.640 not travel to a store, and you know, in a sense, 0:06:33.760 --> 0:06:37.600 traveling to a store versus getting the one on one 0:06:37.800 --> 0:06:41.440 zoom experience, you might get better attention actually via zoom. 0:06:41.600 --> 0:06:44.760 I want, so, j what are some of the items 0:06:44.920 --> 0:06:46.880 that are hot this year and what are some of 0:06:46.920 --> 0:06:50.159 the items that maybe are not? UM. I think you 0:06:50.200 --> 0:06:52.719 know you're going to see the normal electronics seems to 0:06:52.760 --> 0:06:56.960 be taking off a lot of TV discounts today. UM. Apparel, 0:06:57.040 --> 0:06:59.960 the sweaters that you know, the things like that. Jewelry 0:07:00.080 --> 0:07:02.400 may do well because again it's one of the few 0:07:02.440 --> 0:07:05.360 things that you women particularly will be able to show 0:07:05.360 --> 0:07:07.760 off when they're on their conference calls on the computer 0:07:07.880 --> 0:07:10.880 at home. UM. I think guys like to show off 0:07:10.880 --> 0:07:12.440 like that new watch as well. I'm just going to 0:07:12.520 --> 0:07:15.160 put that out there. Yes, that's true. UM, that's true 0:07:15.240 --> 0:07:18.200 very much. UM. And so you know very much tops 0:07:18.400 --> 0:07:22.400 because none of us wear bottoms when we're on the computers. 0:07:22.600 --> 0:07:25.640 All right, full disclosure. I have a potum on right now, 0:07:25.880 --> 0:07:30.000 the UM. But ironically, you are seeing some growth in 0:07:30.080 --> 0:07:33.600 shoes and things like that. What the consumers at all 0:07:33.720 --> 0:07:37.080 price points are beginning to under beginning to do, is 0:07:37.360 --> 0:07:40.280 they want to treat themselves. They're not eating out in restaurants, 0:07:40.360 --> 0:07:43.560 they're not going on vacation. So there's been this spending 0:07:43.600 --> 0:07:46.320 boom because it's like, I have this liquidity, as you 0:07:46.360 --> 0:07:49.360 mentioned earlier in the program, I want to do something 0:07:49.400 --> 0:07:52.200 with it. I need a treat, and so they're spending 0:07:52.240 --> 0:07:54.960 money on things they might not wear right away, but 0:07:55.000 --> 0:07:58.360 they're kind of buying for when this this horrible experience 0:07:58.440 --> 0:08:00.400 is over. Well, Jim, have a good holiday season. I'm 0:08:00.400 --> 0:08:02.480 sure we'll be checking in with you throughout. Jim Fallon, 0:08:02.560 --> 0:08:04.960 editorial director of Women's Where Daily, joining us on the 0:08:05.000 --> 0:08:08.840 phone from Terrytown. Guess it's really fascinating story here. She 0:08:08.920 --> 0:08:13.440 has positioned her company as the peloton of education by 0:08:13.640 --> 0:08:16.680 connecting teachers from around the country to school struggling to 0:08:16.720 --> 0:08:20.040 find teachers by taking over classroom with live stream instruction. 0:08:20.080 --> 0:08:23.239 Let's get the latest. We welcome Shelley Barren Wall, CEO 0:08:23.480 --> 0:08:26.280 of Elevate K through twelve. Shelley, thanks so much for 0:08:26.360 --> 0:08:30.160 joining us here. Talk to us about your company, about 0:08:30.240 --> 0:08:35.560 the issue you're trying to address. Sure, thank you so 0:08:35.640 --> 0:08:38.959 much for having me on. So when we talk about 0:08:39.040 --> 0:08:42.640 the problem that you're trying to solve keep COVID aside. 0:08:43.200 --> 0:08:47.160 It's a plaguing problem in the USK to old schools 0:08:47.160 --> 0:08:50.040 and district which is of the teacher shortage. Now, in 0:08:50.120 --> 0:08:53.000 the past, there was already a teacher shortage problem that 0:08:53.080 --> 0:08:57.880 existed that we was solving. According to the Learning Policy Institute, 0:08:57.880 --> 0:09:02.120 there were over five hundred thousand in teacher vacancies or 0:09:02.800 --> 0:09:07.319 uncertified substitute teachers teaching in the classrooms. With COVID. Now 0:09:07.480 --> 0:09:13.320 that problem has actually grown several times. So according to 0:09:13.360 --> 0:09:17.240 the American Federation of Teachers, one in three K TALK 0:09:17.320 --> 0:09:22.000 teachers is expected to retire early due to COVID. So 0:09:22.040 --> 0:09:24.520 if you just talk about the problem right now, the 0:09:24.600 --> 0:09:29.080 teacher shortage problem across the USK to our school districts 0:09:29.240 --> 0:09:33.280 already existed and with COVID it's just accelerating at a 0:09:33.400 --> 0:09:36.720 much higher rate. And that is a problem that we're solving. 0:09:37.040 --> 0:09:40.280 When there isn't that great format teacher or the grade 0:09:40.320 --> 0:09:44.760 six science teacher or the high school cybersecurity teacher not 0:09:44.960 --> 0:09:47.839 existing in the local zip code, how can you bring 0:09:47.960 --> 0:09:52.200 that same power of amazing teaching into the classroom by 0:09:52.280 --> 0:09:55.559 live streaming it so that zip code is not a 0:09:55.600 --> 0:10:00.200 barrier to the access to high quality teachings. Say, one 0:10:00.200 --> 0:10:02.559 thing I want to ask you is you said they 0:10:02.600 --> 0:10:07.120 were already over five teaching substitutes in our system. Why 0:10:07.280 --> 0:10:09.960 is it so that sounds like a really high number? 0:10:10.320 --> 0:10:13.240 Is it help me out here? Right? So, the way 0:10:13.240 --> 0:10:15.520 you have to think about a problem about this problem 0:10:15.600 --> 0:10:18.920 is it's not really that the supply of teachers overall. Right, 0:10:18.960 --> 0:10:22.040 So if you look at the overall demand for teachers 0:10:22.120 --> 0:10:24.120 as of today, there are three point one million k 0:10:24.240 --> 0:10:27.559 twelves teachers in the school system. The supply may be 0:10:27.679 --> 0:10:30.800 slightly higher than that. But where it breaks is the 0:10:30.880 --> 0:10:34.480 geographic arbitrage. We do a lot of work. Let's stay 0:10:34.520 --> 0:10:39.720 in South Georgia, dirty County, right, Sometimes it's impossible for 0:10:39.760 --> 0:10:42.600 them to find a Spanish teacher there, or a calculus teacher. 0:10:43.080 --> 0:10:47.400 But there's a high supply of teachers of calculus teachers, 0:10:47.400 --> 0:10:51.120 maybe in San Francisco. So the problem really is of 0:10:51.200 --> 0:10:54.360 a geographic arbitrage. I am surprised that there is not 0:10:54.679 --> 0:10:58.480 more conversation about this problem as we talk about reskilling 0:10:58.480 --> 0:11:03.680 America and reskilling real America, uh in specifics. So the 0:11:03.679 --> 0:11:07.200 problem exists eight because of that. The second reason the 0:11:07.200 --> 0:11:10.480 problem exists is what the children need to learn is changing. 0:11:10.960 --> 0:11:15.439 We have a lot of conversations about STEM, computer science, cybersecurity. 0:11:15.840 --> 0:11:19.760 If a school district can't find a Grade Ford math teacher, Carol, 0:11:20.160 --> 0:11:22.880 go figure, how are they ever going to find a 0:11:22.920 --> 0:11:26.920 computer science teacher. So the problem really existed, people were 0:11:27.000 --> 0:11:29.920 talking about it, but I think COVID has just brought 0:11:30.000 --> 0:11:33.680 this problem center and completely up front. And this is 0:11:33.679 --> 0:11:37.839 a problem plaguing mostly the low income neighborhoods in the country. Well, 0:11:37.880 --> 0:11:40.200 and I think about Paul, like you probably thought about 0:11:40.240 --> 0:11:42.160 it with your kids. I know my parents did. They 0:11:42.200 --> 0:11:45.000 thought about when they bought a house where we were 0:11:45.000 --> 0:11:47.400 going to grow up and what kind of education. That 0:11:47.440 --> 0:11:49.360 was a big thing, and we know it's just not equal, 0:11:49.440 --> 0:11:52.520 right Paul, you know around the country absolutely, And Shelley, 0:11:52.679 --> 0:11:57.240 I'm just wondering what the you know, what this country 0:11:57.240 --> 0:11:58.840 has been dealing with really for the last eight months 0:11:58.840 --> 0:12:02.679 as it relates to education, much much more virtual education. 0:12:03.080 --> 0:12:08.200 What are your thoughts on the viability the quality of 0:12:08.200 --> 0:12:11.200 that virtual experience visa vi the in person experience, since 0:12:11.200 --> 0:12:13.880 you've had so much experience with it. Thank you so 0:12:13.960 --> 0:12:15.920 much for asking that question. I think it's a very 0:12:15.960 --> 0:12:18.679 important question. To be asked. Um, you'll see a lot 0:12:18.720 --> 0:12:22.120 of articles now talking about virtual education is not working, 0:12:22.240 --> 0:12:25.720 online learning is not working. I don't think virtual education 0:12:25.800 --> 0:12:28.680 or online learning is not working. What is really not 0:12:28.840 --> 0:12:31.680 working is the way it is being done. Over the 0:12:31.800 --> 0:12:36.200 last several years, we as the company have honed in 0:12:36.640 --> 0:12:42.920 on the specifics of what makes real life teaching impactful engagement. 0:12:43.040 --> 0:12:45.480 That a gaugey, the way you teach. How is the 0:12:45.520 --> 0:12:49.760 teacher being how is the teacher being like evaluated? What 0:12:49.800 --> 0:12:52.480 are you doing in a life syncodness and waterman. If 0:12:52.480 --> 0:12:55.240 you think about virtual teaching now and what you see 0:12:55.280 --> 0:12:58.640 with your children, what they've basically done is taken a 0:12:58.720 --> 0:13:02.280 platform like Zoo More Google Needs that was built for 0:13:02.559 --> 0:13:07.439 business and bandaged it and said, hey, kids, schools in districts, 0:13:07.520 --> 0:13:10.679 let's use it. And that's the reason it's not working 0:13:10.720 --> 0:13:13.640 because it wasn't built for a child, it wasn't built 0:13:13.679 --> 0:13:16.760 for engagement. The teachers didn't go through the right amount 0:13:16.760 --> 0:13:19.319 of training, The teachers are not going to the right 0:13:19.320 --> 0:13:22.439 amount of quality audits because everybody is just scrambling to 0:13:22.520 --> 0:13:26.439 fill let's get something out to the kids. The instruction 0:13:26.679 --> 0:13:29.959 loss that is going to happen, specifically in the low 0:13:29.960 --> 0:13:34.199 income neighborhoods because your children fall and Carroll's still you know, 0:13:34.360 --> 0:13:37.240 you have WiFi at home, you have laptops, you have electricity. 0:13:37.559 --> 0:13:40.680 When COVID hit, the transition was easy. We worked with 0:13:40.760 --> 0:13:43.640 some school districts when COVID hit. The only thing that 0:13:43.679 --> 0:13:46.840 the superintendent would say the goddesses to make sure that 0:13:46.960 --> 0:13:49.600 the meals are delivered to the kids. Some of these 0:13:49.640 --> 0:13:51.880 kids don't have electricity at home, some of them don't 0:13:51.880 --> 0:13:55.920 have WiFi, so they were different issues them. My viewpoint 0:13:56.000 --> 0:13:59.839 is virtual learning and online learning works if it's done well, 0:14:00.200 --> 0:14:03.960 and the three pillars that make it highly effective is 0:14:04.240 --> 0:14:08.959 great technology built four K twelve right, absolutely amazing, rock 0:14:09.000 --> 0:14:12.920 star teachers, and great content. You know, Carol, unfortunate to 0:14:12.960 --> 0:14:16.079 live in a town that has a very good school system. 0:14:16.120 --> 0:14:18.000 But this summer at school is just about to open. 0:14:18.040 --> 0:14:19.960 I saw for the first time signs in front of 0:14:19.960 --> 0:14:23.960 the schools recruiting substitute teachers. I guess the district was 0:14:24.000 --> 0:14:26.520 really anticipating with the COVID that there would be a 0:14:26.560 --> 0:14:30.200 greater need for substitute teachers. So if it has happening 0:14:30.200 --> 0:14:33.200 in strong school districts, you gotta really wonder kind of 0:14:33.200 --> 0:14:35.360 where we are and some of the others, and fortunate 0:14:35.400 --> 0:14:38.640 to continue our discussion with elevate K through twelve CEO 0:14:38.760 --> 0:14:44.000 Shelley Baron Wall. Shelley again just highlighted to me, uh, 0:14:44.040 --> 0:14:47.440 this issue of teachers and give us a sense is 0:14:47.520 --> 0:14:51.840 this Are you finding that there is a growing shortage 0:14:51.840 --> 0:14:54.880 of teachers or maybe just that arbitrage that you were 0:14:54.880 --> 0:14:59.280 talking about earlier, that's really a regional thing. So I 0:14:59.320 --> 0:15:02.960 would answer the question in two phases. Number one and 0:15:03.040 --> 0:15:06.480 the first problem is the geographic arbitract right if I 0:15:06.560 --> 0:15:10.200 look at the supply of teachers right now. But however, 0:15:10.360 --> 0:15:12.880 when we think about building a company, when we think 0:15:12.880 --> 0:15:17.200 about reforming a complete industry, you have to think about 0:15:17.280 --> 0:15:19.600 what this is going to do long term. And I 0:15:19.680 --> 0:15:24.360 do believe that as the percentage of people in general 0:15:24.600 --> 0:15:29.960 taking teaching certifications or wanting to be teachers reduces, this 0:15:30.120 --> 0:15:33.080 problem is going to further increase and rather than just 0:15:33.400 --> 0:15:37.480 impacting the low income neighborhoods, very soon may actually impact 0:15:37.480 --> 0:15:40.760 the high income neighborhoods. So what we need to do 0:15:40.840 --> 0:15:43.360 as as a society, what we need to do as 0:15:43.360 --> 0:15:46.560 a company, is not just think about the problems that 0:15:46.640 --> 0:15:50.120 we are solving right now, but also think about what 0:15:50.280 --> 0:15:53.200 are the strategies and measures that need to be taken 0:15:53.240 --> 0:15:57.680 now to continue to improve the supply of teachers, like 0:15:58.040 --> 0:16:02.400 to make teaching of un professor again where millennials and 0:16:03.160 --> 0:16:06.880 want to be teachers, and they're not wanted about that 0:16:06.960 --> 0:16:09.000 being a teacher, they may not get paid a lot, 0:16:09.120 --> 0:16:11.240 or where do they want to live. I think one 0:16:11.240 --> 0:16:13.440 thing that COVID has done is, you know what, people 0:16:13.480 --> 0:16:17.200 can live anywhere they want, and with our live streaming instruction, 0:16:17.600 --> 0:16:21.000 teachers can teach straight into a classroom where the kids 0:16:21.000 --> 0:16:24.200 are in one physical location from anywhere they want. So 0:16:24.320 --> 0:16:26.240 I look at it in two phases and that's how 0:16:26.320 --> 0:16:30.320 I see the problem evolving. So don't you think all 0:16:30.760 --> 0:16:32.960 I also think there's something wrong with us as a society. 0:16:32.960 --> 0:16:35.600 Cately that I don't think there is a lot of 0:16:35.640 --> 0:16:39.120 respect for teachers. We certainly don't pay them often enough, 0:16:39.760 --> 0:16:43.160 and we also ask teachers to often buy their own supplies, 0:16:43.280 --> 0:16:46.200 you know, contribute. You know, there's something wrong. I didn't 0:16:46.200 --> 0:16:49.200 grow up where my parents had to buy you know, 0:16:49.240 --> 0:16:51.680 we bought the things I basically needed, but the schools 0:16:51.680 --> 0:16:55.560 supplied a lot. And something's happened in our world. Despite 0:16:55.600 --> 0:16:58.120 the amount of money that we haven't spent on taxes 0:16:58.160 --> 0:17:01.440 and it goes into education, we've gotten I don't know, 0:17:01.600 --> 0:17:04.720 we really kind of gotten messed up. So how do 0:17:04.800 --> 0:17:07.639 we pay teachers more so that people want to be 0:17:07.720 --> 0:17:10.320 a teacher and come into the occupation. How do we 0:17:10.359 --> 0:17:13.040 make sure schools are funded in the right way? M 0:17:13.680 --> 0:17:17.160 so Actually, so, we do surveys of of our teachers. 0:17:17.240 --> 0:17:19.320 Right we have a network of over thousand teachers in 0:17:19.359 --> 0:17:23.040 the US. They're located everywhere, they teach online, they teach live. 0:17:23.480 --> 0:17:26.160 And when we do our surveys, Carol and we asked them, 0:17:26.200 --> 0:17:29.000 why did you leave the school district to work with us? 0:17:29.359 --> 0:17:34.080 What caused it? And the number one reason was because 0:17:34.080 --> 0:17:37.000 they were so done with a lot of bureaucracies and 0:17:37.040 --> 0:17:40.840 politics that happens within a school district where they went 0:17:40.920 --> 0:17:44.160 into teaching for the joy of teaching. So, frankly, it's 0:17:44.240 --> 0:17:47.639 not so much the money, it's actually the rest of 0:17:47.680 --> 0:17:51.159 the systems around it that plugged the teachers out of 0:17:51.160 --> 0:17:55.879 the school system. Definitely, paying them well, making teaching a 0:17:56.080 --> 0:18:00.399 high paid job is definitely a plus. And I'm hoping 0:18:00.480 --> 0:18:02.399 that with some of the laws changing, with some of 0:18:02.440 --> 0:18:05.080 the policies coming in, we see more and more of that. 0:18:05.720 --> 0:18:08.520 Teachers want flexibilities. Like a lot of our teachers are 0:18:08.560 --> 0:18:11.520 from North to Code down there from Oklahoma where they 0:18:11.560 --> 0:18:13.600 live in small towns with the cost of living is low, 0:18:13.680 --> 0:18:17.240 but they're teaching in a big town in let's say 0:18:17.240 --> 0:18:19.840 in North Carolina and into a classroom. So I think 0:18:19.840 --> 0:18:22.560 that part is causing them to leave the profession. And 0:18:22.600 --> 0:18:24.639 if you look at the root cause analysis of that 0:18:24.680 --> 0:18:28.000 and start targeting each one of those, you will see 0:18:28.119 --> 0:18:30.800 more and more teachers come back into the system. Like 0:18:31.080 --> 0:18:34.479 we've currently partners with companies like Sylvan Learning that your 0:18:34.560 --> 0:18:38.680 code sharing our teachers. We're partnering with University of Phoenix 0:18:38.960 --> 0:18:42.240 talking to these universities on how you can make your 0:18:42.240 --> 0:18:46.720 teaching curriculum more impactful. That more millenniums and the younger 0:18:46.720 --> 0:18:49.960 generation want to get into this profession and teach the 0:18:50.000 --> 0:18:52.080 way they wanted, maybe from a beach, and how do 0:18:52.080 --> 0:18:55.359 you make it SEXI before them, Okay, I mean you 0:18:55.480 --> 0:18:57.879 told me, But what's interesting. I have a cousin. I 0:18:57.880 --> 0:19:00.880 mean she's retired now and we would have kept teaching 0:19:00.880 --> 0:19:06.119 a few more years, but you mentioned bureaucracy. Um, you know, 0:19:06.200 --> 0:19:08.920 talk to me about situations where schools didn't back up 0:19:08.960 --> 0:19:13.159 teachers against parents, and it became where teachers were, you know, 0:19:13.280 --> 0:19:16.359 kind of having to reprimand kids or it just got 0:19:16.400 --> 0:19:19.600 really difficult. And I do wonder you know that dynamic 0:19:20.000 --> 0:19:23.000 how what what you're hearing about that as well? Yeah, 0:19:23.040 --> 0:19:26.360 I would say that probably not every school district goes 0:19:26.400 --> 0:19:28.919 through that. We have the fortune of working with some 0:19:29.000 --> 0:19:32.159 amazing school districts where their leaders and superintendents care a 0:19:32.200 --> 0:19:36.080 lot about their staff. Because again, it's like any other organization, right, 0:19:36.280 --> 0:19:38.600 you care for your people, you give them the right rules, 0:19:38.960 --> 0:19:43.600 and the entire organization flourishes. So specifics, what I have 0:19:43.720 --> 0:19:47.320 heard about is Number one is the time commitment required. 0:19:47.400 --> 0:19:50.480 Right Like, as a teacher, you may think that that 0:19:50.720 --> 0:19:53.080 a am to three pm is where your life and no, 0:19:53.280 --> 0:19:57.159 your life kind of continues beyond that. So the number 0:19:57.240 --> 0:19:59.600 of hours of work that they have to do beyond 0:19:59.640 --> 0:20:03.000 the to three is what pushes a lot of teachers 0:20:03.000 --> 0:20:05.360 from a regular brick and mortar system to working with 0:20:05.440 --> 0:20:08.800 us online. The second is the flexibility of time. More 0:20:08.840 --> 0:20:12.399 than sixt the tchual teaching population is women, more than 0:20:13.359 --> 0:20:16.000 of our teaching population is women, right, So you see 0:20:16.040 --> 0:20:19.280 the difference there, and they are between thirty two to forty. 0:20:19.520 --> 0:20:21.959 They are a mother with a teaching certification, so they 0:20:22.000 --> 0:20:24.920 need that flexibility that I can work and I can 0:20:25.000 --> 0:20:28.679 also you know, be at home when needed. So that 0:20:28.840 --> 0:20:31.880 flexibility that the gig economy has offered to a lot 0:20:31.920 --> 0:20:34.320 of other industry. It's high time that it comes to 0:20:34.359 --> 0:20:37.000 Kate pout now and that's what we're trying to change. Shelly, 0:20:37.080 --> 0:20:40.479 just quickly, what is most school dridstricts, I would say 0:20:40.480 --> 0:20:42.879 around the country are really struggling with virtual learning? What 0:20:43.000 --> 0:20:45.440 the mistakes do you think they're making? What advice would 0:20:45.440 --> 0:20:47.840 you give them to try to improve their virtual learning? 0:20:48.760 --> 0:20:51.520 I think the first the only advice that I would 0:20:51.520 --> 0:20:54.480 give them, actually not the first run is believe in 0:20:54.600 --> 0:21:00.240 synchronous teaching. What the difference between synchronous and asynchronous arning 0:21:00.240 --> 0:21:03.439 and teaching a synkinner, So a lot of remote teaching 0:21:03.600 --> 0:21:07.560 that's happening not with elevation but without elevate wealth is 0:21:07.600 --> 0:21:10.320 a teacher would come online, teach for maybe ten fifteen 0:21:10.320 --> 0:21:13.760 minutes and then that's synchronous teaching, and then give a 0:21:13.840 --> 0:21:17.280 synchinners work to the kids to do on their own 0:21:17.359 --> 0:21:21.040 watch videoself based learning. Again, it goes back to the 0:21:21.160 --> 0:21:25.200 have and have not right, like your children would be proactive, 0:21:25.280 --> 0:21:27.639 would want to do a syn conness learning maybe or 0:21:27.680 --> 0:21:30.240 maybe not. I'm not sure, but a lot of the 0:21:30.359 --> 0:21:33.560 students who we serve there isn't a culture of success. 0:21:33.600 --> 0:21:36.760 They don't have those examples. So what is really not 0:21:37.040 --> 0:21:42.200 working is the lack of synchronous life teaching into remote learning. 0:21:42.320 --> 0:21:45.240 Online learning is not life learning, and I think the 0:21:45.920 --> 0:21:49.520 industry and the country needs to start understanding the difference 0:21:49.520 --> 0:21:52.960 between the two. That's a really good, important distinction, especially 0:21:52.960 --> 0:21:55.000 as we move forward and we expect that this online 0:21:55.040 --> 0:21:56.760 learning is going to kind of stay with us in 0:21:56.840 --> 0:21:59.840 some form or another. Shelly, thank you so much. She 0:22:00.000 --> 0:22:02.240 Alie bar and Wall. She is founder and CEO of 0:22:02.280 --> 0:22:05.520 Elevate K twelve. Check out more about what they're doing. 0:22:05.600 --> 0:22:07.840 You can go online and find out about that. Paul, 0:22:07.880 --> 0:22:09.919