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Speaker 1: Now, I know last week we told everybody about all

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Speaker 1: the issues with the supply chain.

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Speaker 2: TT.

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Speaker 3: Yeah, we told y'all. Okay, y'all are ordering too much stuff.

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Speaker 3: Maybe don't order so much stuff, maybe don't buy anything

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Speaker 3: at all, shop local.

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Speaker 1: But y'all are showing me your Christmas wishless and so

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Speaker 1: I know you're still buying things.

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Speaker 3: Y'all are definitely still buying things because I saw some

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Speaker 3: of y'all standing in line for the Black Friday shopping.

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Speaker 3: I'm not gonna name any names, and we saw you

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Speaker 3: on Instagram. We saw and we're not judging. But the

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Speaker 3: landscape has really changed over the past couple of months.

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Speaker 3: When we go back and think about it, there's some

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Speaker 3: new players in the games when it comes to buying gifts.

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Speaker 2: Now.

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Speaker 3: Yeah, a lot of these apps are popping up that

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Speaker 3: make shopping very very easy.

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Speaker 1: And we're ready to talk all about it. I'm TT

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Speaker 1: and I'm Zachiah.

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Speaker 2: And from Spotify.

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Speaker 4: This is Dope Labs.

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Speaker 1: Welcome to Dope Labs, a weekly podcast that mixes hardcore science,

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Speaker 1: pop culture, and a healthy dose of friendship.

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Speaker 3: This week, we're talking all about Mulah money. Specifically, we're

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Speaker 3: interested in learning more about the financial technology or fintech

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Speaker 3: that's available to help keep your finances in check.

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Speaker 2: You know, one thing.

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Speaker 3: We don't really think about that much is how sometimes

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Speaker 3: it costs money to spend money. The most classic example

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Speaker 3: of this is interest, where you pay an extra fee

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Speaker 3: in order to borrow money that you don't have yet.

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Speaker 1: The banks have been around a long time and they

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Speaker 1: have been scamming us between subprime mortgage crisis, big bank bailouts,

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Speaker 1: YadA YadA YadA.

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Speaker 2: Biggest scam otters of all time.

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Speaker 1: So we're really interested in how science and technology are

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Speaker 1: shaking up the landscape and finance. How are we getting

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Speaker 1: new online financial tools which are referred to as fintech

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Speaker 1: or financial technology, and how are those things making finance

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Speaker 1: more accessible for people who want to get their money

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Speaker 1: matters in shape.

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Speaker 2: So let's get into the recitation.

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Speaker 1: So what do we know and what do we want

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Speaker 1: to know.

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Speaker 3: I know that there's a lot of fintech apps out there,

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Speaker 3: so things like zell, Kwarna, after pay, Robinhood, Venmo, cash app,

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Speaker 3: and we use it so much as now incorporated like

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Speaker 3: into you know the zeitgeist in rap songs and cash

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Speaker 3: app me Baby exactly. People are using it in everyday conversation,

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Speaker 3: and a lot of people have their cash app in

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Speaker 3: their bios now so that brandom people could just cash

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Speaker 3: app them.

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Speaker 2: You know, why not if you can get paid. Hey,

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Speaker 2: do what you gotta do.

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Speaker 1: We talked a little bit about some of those types

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Speaker 1: of apps in LAP twenty one our fintech episode called

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Speaker 1: New Bank Account.

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Speaker 2: Who this right?

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Speaker 1: So if you haven't heard that episode, press pause right

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Speaker 1: now and go check it out, because we really cover

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Speaker 1: a lot.

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Speaker 2: Yeah, We'll wait.

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Speaker 1: What else do we know?

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Speaker 5: Well?

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Speaker 3: I think we know that fintech apps use data science

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Speaker 3: and algorithm to provide a lot of different services.

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Speaker 1: And we also know there's been a huge shift in

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Speaker 1: this past decade towards using online financial services and products

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Speaker 1: in general. Remember when you were afraid to put in

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Speaker 1: your credit card info on the web?

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Speaker 3: My mom still is, But I think generally most people

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Speaker 3: feel okay with putting their card information in on the

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Speaker 3: internet so that they can purchase whatever they want to purchase.

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Speaker 1: Yes, I think we also know that people need help

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Speaker 1: and access to tools when it comes to managing their finances.

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Speaker 1: There's a wage crisis. Wages have remained pretty much unchanged

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Speaker 1: when you consider.

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Speaker 2: The rate of inflation.

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Speaker 1: So people already aren't starting out with receiving a lot

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Speaker 1: of coins, so you're at least going to want to

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Speaker 1: be able to make the best decisions you can with

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Speaker 1: the money.

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Speaker 4: You do have.

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Speaker 1: Okay, so what do we want to know? I think

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Speaker 1: I want to know about the state of finance today.

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Speaker 1: It feels like the market and everything I see about

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Speaker 1: the economy is just going up, up, up up, and

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Speaker 1: at some point we're going to fall right And it

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Speaker 1: may not be like the great economic housing collapse that

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Speaker 1: we saw in two thousand and seven to two thousand

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Speaker 1: and eight, but it does feel like we went through

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Speaker 1: something pretty economically significant twenty twenty In twenty twenty one.

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Speaker 3: Yeah, when I think back to some of the labs

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Speaker 3: that we've done in the past, where we're talking about

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Speaker 3: housing and food and everything like that, I mean money

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Speaker 3: touches all of that feel like touches everything. Yes, I

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Speaker 3: think something that I'm interested in knowing about is how

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Speaker 3: they're using science and technology to create these fintech apps.

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Speaker 1: Yeah, I want to know who's using this new technology

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Speaker 1: and in which situations are fintech interventions most useful.

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Speaker 2: That's a really good question.

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Speaker 3: We know that there are barriers because of socioeconomic factors

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Speaker 3: when it comes to finances. But what are some of

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Speaker 3: the barriers to access with fintech.

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Speaker 1: I think we're ready to jump into the dissection.

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Speaker 2: I can't wait, let's do it.

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Speaker 1: Our guest for today's lab is Natalia Brazenski.

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Speaker 6: My name is Natalia Brazenski.

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Speaker 3: I'm kind of strategy for the US for Klarna is

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Speaker 3: a Sweden based shopping app you can use to buy

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Speaker 3: things upfront and then pay for them later in smaller

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Speaker 3: increments over time. You might have heard of the term

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Speaker 3: buy now, pay later. Well, that's essentially what Klarna's for.

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Speaker 3: It comes in really handy for big ticket purchases like furniture,

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Speaker 3: a peloton that you might not be able to afford

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Speaker 3: all at once, and unlike a credit card, it doesn't

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Speaker 3: charge you interest. Similar platforms are like Affirm and after Pay.

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Speaker 1: This is really great because the buy now, pay later

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Speaker 1: feature lets you pay for something. Let's say I want

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Speaker 1: to get a four hundred dollars chair.

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Speaker 2: This is an expensive chair.

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Speaker 3: It is expensive. Just go with the example. I'm sure

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Speaker 3: it's very comfy.

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Speaker 1: Clara lets you divide the cost into four equal payments.

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Speaker 1: So now you're making for one hundred dollar payments over time,

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Speaker 1: maybe after you get another paycheck, and you can afford

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Speaker 1: to make that next payment instead of four hundred dollars

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Speaker 1: up front. So it's really cool. It's like providing access.

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Speaker 1: So if you couldn't have afforded that before, you maybe

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Speaker 1: would have had to use a credit card pay interest

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Speaker 1: on it. Now you can not have a ding on

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Speaker 1: your credit score while you're trying to move and do

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Speaker 1: whatever else, which has probably already been digging up your

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Speaker 1: credit score, and you can still get the things that

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Speaker 1: you need.

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Speaker 3: That's perfect, like set it and forget it. Yes, it's

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Speaker 3: great for folks who want to think less about everything else.

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Speaker 1: And that piece about access Natalia really helped us kind

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Speaker 1: of zoom in on that, and she says a lot

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Speaker 1: of what she does with Kwana is informed by growing

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Speaker 1: up with immigrant parents on the South Side of Chicago.

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Speaker 5: I grew up with communities, including my own home, very

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Speaker 5: much in debt, not speaking the language and also not

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Speaker 5: speaking the financial language. And I saw that all around

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Speaker 5: me there's a payday loan and a loan institution on every.

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Speaker 6: Block where I grew up. I often joke, you know,

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Speaker 6: I could be a billionaire.

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Speaker 5: I'm not, but I could be, and I would still

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Speaker 5: have that fear of being.

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Speaker 6: Broke the next day, because it's just like what you

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Speaker 6: grow up in.

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Speaker 3: Natalia's worldview and a huge driver for her work is

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Speaker 3: definitely her upbringing, not just where she grew up, but

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Speaker 3: also the influence of women in her household, her mom,

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Speaker 3: who had a full time job, and her grandmother who

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Speaker 3: also worked outside the home.

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Speaker 5: I saw, you know, raised by a working mom, female

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Speaker 5: breadwarners in my home, grandmother and mother, and they lifted

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Speaker 5: themselves out by understanding money. My mom got her MBAMCPA

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Speaker 5: when I was ten. I remember going to a graduation

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Speaker 5: from night school and being entrepreneurs.

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Speaker 1: So thinking about what we already know about income, inequality,

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Speaker 1: access to credit. One of the things we wanted to

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Speaker 1: know was who uses Klarna? What are the user demographics? Well,

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Speaker 1: one thing we know is that Clarna is global. Yes,

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Speaker 1: we use Clara here in the US, but it was

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Speaker 1: adopted by other European countries first.

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Speaker 6: Before Klarna.

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Speaker 5: I spent you know, ten eleven years or almost my

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Speaker 5: entire adult life focusing on Sweden and Scandinavia and those

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Speaker 5: values because they really looked at tech in a very

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Speaker 5: different way. It was all about transparency and access.

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Speaker 3: Natalia also pointed out another big difference between the US

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Speaker 3: and Europe when it comes to spending.

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Speaker 2: It's credit cards.

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Speaker 5: I was a student studying abroad in Copenhagen, Denmark, and

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Speaker 5: like many of US Americans, we landed this city with

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Speaker 5: a bunch of credit cards.

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Speaker 6: And I go in to buy something and they're just like,

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Speaker 6: we don't take credit cards.

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Speaker 2: We do dubit.

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Speaker 6: And I'm like, what or out of debt? And they said, yes,

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Speaker 6: in Denmark, we only spend what we have.

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Speaker 1: And that definitely isn't the attitude in the US. You know,

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Speaker 1: in the United States, more than one hundred and ninety

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Speaker 1: one million people have credit cards, and the average cardholder

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Speaker 1: has at least two cards two point seven to be exact. Interestingly,

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Speaker 1: the average American household has over five thousand dollars of

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Speaker 1: credit card debt. So we're definitely not a only spend

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Speaker 1: what we have kind of country.

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Speaker 2: All of these numbers are so shocking to me.

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Speaker 3: I didn't have any idea that that was the state

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Speaker 3: of Americans until you literally just said it.

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Speaker 1: That doesn't even include folks who are under banked or

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Speaker 1: not banked at all, who are using alternative loan sources

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Speaker 1: that can't get credit cards, and are using like payday

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Speaker 1: centers like Natalia was talking about, or getting other types

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Speaker 1: of loans, or pawn shops even you know, to.

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Speaker 2: Liquidate cash for gold and things like that.

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Speaker 1: So if we start considering all of that, I think

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Speaker 1: you can understand why the United States is a good

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Speaker 1: market for the buy now, pay later system.

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Speaker 3: But do you remember when we were kids, Like now

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Speaker 3: we're saying things like, oh, it's just buy now, pay later,

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Speaker 3: But when we were young, it was called lay away,

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Speaker 3: lay away, baby, and you did not want to be

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Speaker 3: putting your stuff on lay away. If anybody found out,

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Speaker 3: everybody was gonna be talking about you, and not in

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Speaker 3: a good way.

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Speaker 1: I remember lay away, but I think it's in now

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Speaker 1: and it's got another perk. We can lay it away

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Speaker 1: and wear it right away.

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Speaker 4: Right.

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Speaker 1: And that's one of the great things about technology, right,

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Speaker 1: is not will you ever come back and finish making

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Speaker 1: these payments? Because we can track you digitally, so we

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Speaker 1: can understand why it's becoming so popular in the United States.

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Speaker 1: And in twenty twenty one, more than forty five million

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Speaker 1: people will use buy now, pay later services. That's an

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Speaker 1: increase of eighty point two percent over the usage in

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Speaker 1: twenty twenty.

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Speaker 3: And unsurprisingly, it's been young people that have been driving

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Speaker 3: this shift to buy now, pay later. Almost seventy five

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Speaker 3: percent of buy now pay later users in the US

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Speaker 3: are Gen Z or millennials.

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Speaker 1: And it makes sense, you know, this type of financial

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Speaker 1: model gains a lot of traction because it offers flexibility

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Speaker 1: and autonomy to purchasers. It's also good for small businesses

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Speaker 1: that won't have to deal with credit card fees, which

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Speaker 1: will significantly drop, you know what they get to take home,

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Speaker 1: and it opens up the market for people who they

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Speaker 1: may want to sell to but can't afford it upfront too.

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Speaker 3: We act Natalia, what the greatest misconceptions are right now

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Speaker 3: about people who use Klarna.

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Speaker 5: I think the greatest misconception is like we are getting

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Speaker 5: young people in debt.

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Speaker 6: It comes from both sides of political structure.

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Speaker 5: You know, some people say their services to buy more

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Speaker 5: fast fashion from China and like put twelve year olds

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Speaker 5: in debt. I mean it's just a lack of education actually,

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Speaker 5: because we see that our users are actually college educated

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Speaker 5: or more. They're looking for interesting budget tools. They're actually

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Speaker 5: really innovative. Often like professional women just entering the workforce

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Speaker 5: who are not satisfied with the with the tools out

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Speaker 5: there right now.

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Speaker 3: So the folks you think are using Klara are not

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Speaker 3: the folks that are using Klarana the.

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Speaker 2: Most and low key.

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Speaker 1: Sounds pretty smart to use something that gives me greater

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Speaker 1: flexibility and autonomy.

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Speaker 2: With no interest. It sounds like a genius option.

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Speaker 1: But I'm really interested, you know. Like we said, there

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Speaker 1: were some yes, negative connotations around by now pay later,

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Speaker 1: or the old school version of it, which was layaway.

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Speaker 1: But what's causing the shift Is it that everybody's just

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Speaker 1: spreading word of mouth. Hey affirm, Klarna and all these

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Speaker 1: other apps will work for me.

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Speaker 2: You should use them too.

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Speaker 3: Natalia says, is that while the pandemic has definitely played

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Speaker 3: a role in changing spending habits, it's also about generational

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Speaker 3: change catching up our generation.

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Speaker 5: We came to the workforce in our financial crisis, in

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Speaker 5: a banking crisis. Basically, you've been chaos since the last

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Speaker 5: ten years, like our adulthood has been so chaotic, so

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Speaker 5: people want to take control of that, and money is

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Speaker 5: the number one way.

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Speaker 1: I think she's right, First you get the money, then

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Speaker 1: you get the power, that's what they say.

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Speaker 2: Then you get the power, then you get the respect.

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Speaker 1: That's right, little t T. Let's take a break and

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Speaker 1: when we come back, we're going to talk about what

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Speaker 1: it means to be financially healthy and how wider access

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Speaker 1: to fintech can actually help. Before we dive back into

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Speaker 1: the dissection, ZE talk about what we've got come in.

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Speaker 2: In next week's lab.

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Speaker 1: We're talking all about birth control. Now, this is something

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Speaker 1: that affects all of us, not just half the population.

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Speaker 1: We're covering how birth control basically hasn't been changed since

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Speaker 1: the sixties, and some of the new potential with personalized medicine.

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Speaker 3: Okay, let's give back to fintech. We're talking to Natalia Brazinski,

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Speaker 3: the head of strategy in the US for Klarna.

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Speaker 1: I think I read a stat that said only thirty

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Speaker 1: percent of the US population was considered financially healthy.

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Speaker 3: That's crazy. So three out of ten people are financially healthy.

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Speaker 1: Yeah, and so when we consider that, TT, we got

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Speaker 1: to figure out how do we bridge some of these gaps.

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Speaker 1: You take that thirty percent of people being financially healthy,

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Speaker 1: you combine that with what we already know about income inequality.

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Speaker 1: You combine that with what we know about the things

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Speaker 1: that are systemically disenfranchising folks from access to credit and

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Speaker 1: access to housing. We need solutions, and that's where fintech

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Speaker 1: could maybe play a role.

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Speaker 3: That is crazy, But what does it really mean to

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Speaker 3: be financially healthy.

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Speaker 1: Let's take a definition from a twenty twenty study from

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Speaker 1: the Urban Institute. They consider someone to be financially healthy

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Speaker 1: when their daily financial systems enable them to be resilient

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Speaker 1: and pursue opportunities. So this is like having the ability

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Speaker 1: to spend safe, borrow, and plan effectively. What they found

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Speaker 1: in that study was that in general, financially healthy people

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Speaker 1: spend less than their income. They pay their bills on time,

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Speaker 1: they plan ahead financially for you know, big purchases and

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Speaker 1: things like that, and they have sufficient liquid and long

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Speaker 1: term savings and manageable debt, a good credit score, and

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Speaker 1: appropriate insurance like what all the boomers think everybody else

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Speaker 1: should have as soon as they hit you know, twenty one.

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Speaker 3: Right, So you got to make sure that your finances

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Speaker 3: are eating their vegetables and drinking enough water and all

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Speaker 3: the working out doing push ups and sit ups and

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Speaker 3: make sure it can handle everything that's coming at it.

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Speaker 3: It's like, oh, you want to purchase a car, I'm ready.

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Speaker 3: That's a lot though.

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Speaker 2: It's a lot.

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Speaker 3: I mean, when I think about my own personal health,

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Speaker 3: it is exhausting, and having to think about all these

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Speaker 3: little things that contribute to financial health, I'm just like,

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Speaker 3: that's a lot to consider.

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Speaker 1: And knowing the current state of the economy, that requires

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Speaker 1: a lot of cars to line up in your favor. Absolutely,

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Speaker 1: And so when we think about that, leverage and fintech

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Speaker 1: is a crucial part of helping some people become really

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Speaker 1: financially healthy.

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Speaker 5: We're not going to beat people over the head with

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Speaker 5: you know, we know how to do things and this

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Speaker 5: is how you should act responsibly. But I think if

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Speaker 5: you give people the tools and the awareness and the education,

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Speaker 5: then then you make.

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Speaker 6: Your own decisions.

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Speaker 3: And because of COVID, well really because of the recession, it.

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Speaker 1: Really kind of feels like maybe because of society.

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Speaker 3: And really because of just life in general, the universe

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Speaker 3: existing breathing. When you take all of that, When you

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Speaker 3: take all of that, younger generations are especially vulnerable when

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Speaker 3: it comes to access and education.

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Speaker 6: I think we're gonna have a gen Z, you know.

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Speaker 5: Unfortunately that is less equal, less access, like unless we

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Speaker 5: make up that lost time of like now you know,

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Speaker 5: two years of physical school, but like probably four to

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Speaker 5: five years really, and we really need these tech platforms,

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Speaker 5: Like everybody's got to be doing as much as they

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Speaker 5: can to drive education and awareness and change and access

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Speaker 5: because it's gonna be tough.

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Speaker 2: You know.

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Speaker 1: I hadn't really thought about the idea of there being

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Speaker 1: less equity among gen Zers, you know, or them having

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Speaker 1: less access either.

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Speaker 3: Really less anything. It feels like the world is conforming

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Speaker 3: to what gen Z wants. But Natalia brought up a

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Speaker 3: good point.

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Speaker 1: So if we're considering less access, even though we think

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Speaker 1: of gen Z as this like connected generation, because they're

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Speaker 1: always finding, you know, new ways to exchange ideas and information.

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Speaker 1: Think TikTok they coming up with all the crazy dances.

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Speaker 1: We had AOL instant messenger and we weren't sharing anything

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Speaker 1: of significance.

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Speaker 3: Okay, no, we were just talking about age, sex locations.

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Speaker 1: And I think the thing to remember is that there

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Speaker 1: are these disparities as far as who's connected to the web,

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Speaker 1: who's not, who has high speed internet access who doesn't.

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Speaker 1: And even if you do have a con that alone

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Speaker 1: doesn't set you up for success.

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Speaker 3: Right when it comes to financial health, it's really important

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Speaker 3: to give everyone the tools and access to set goals

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Speaker 3: and take control of their own money.

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Speaker 1: And even when we think younger generations, older generations too.

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Speaker 1: Even if you have all of those things, do you

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Speaker 1: have the skills to navigate and know how to use

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Speaker 1: the app store and what to download? And are you

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Speaker 1: downloading the right apps? Is it safe or are you

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Speaker 1: making yourself susceptible to ransomware or whatever. What it comes

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Speaker 1: down to is meeting people where they are, and money

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Speaker 1: is only one of the messy, complicated factors in human relationships,

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Speaker 1: especially driven by the chaos of the past couple of years.

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Speaker 1: We see this in disaster relief. Oh yes, you know

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Speaker 1: when you think about when something happens, do you know

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Speaker 1: how many people are financially healthy enough to stop what

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Speaker 1: they're doing, pack up their whole life, and have a

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Speaker 1: place that they can go to.

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Speaker 3: I was literally just talking about this last night. Like

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Speaker 3: every time a hurricane comes and hits a part of

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Speaker 3: the United States, people are like, why'd you stay? Like,

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Speaker 3: just get out of there. I'm like, first of all,

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Speaker 3: some of these people, this is the only home they've

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Speaker 3: ever known, and they need to try and protect it

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Speaker 3: because if they have to rebuild or purchase a new home,

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Speaker 3: it's not happening. They don't have the funds to be

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Speaker 3: able to do that. A lot of people they have

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Speaker 3: generations of family who have all lived in the same place,

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Speaker 3: so they don't even have the option of going to

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Speaker 3: family that's elsewhere. All of their family is right there,

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Speaker 3: so they don't have a place they can go and

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Speaker 3: then go to a hotel. Not everyone can afford that.

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Speaker 3: Not everyone has a car to be able to say, oh,

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Speaker 3: I'm just gonna hop in my car and drive somewhere else.

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Speaker 2: Like, there's a lot of barriers in place. Money in a.

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Speaker 3: Capitalistic society is the ruler of all things. Yes, And

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Speaker 3: so as much as we want to tell ourselves like, oh,

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Speaker 3: money doesn't rule my life, I do things that make

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Speaker 3: me happy that da da da da da dah, no, Like,

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Speaker 3: this capitalistic society is definitely driving this bus.

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Speaker 1: And there's so much emotional connection to money too, right

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Speaker 1: or shame around money that can then further exclude people

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Speaker 1: or keep them from even looking into the state of

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Speaker 1: their finances.

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Speaker 6: Emotion drives everything. I mean, how many women do you know.

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Speaker 5: That have stayed and abusive relationships because of money.

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Speaker 6: Or have been forced to do things for money?

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Speaker 5: I mean, unfortunately, you can't feel free unless.

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Speaker 6: You control that.

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Speaker 1: Money gives you wings from crawling to flying.

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Speaker 3: Right, money is the red bull. Trying to become financially

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Speaker 3: healthy if you consider yourself not financially healthy, can be embarrassing.

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Speaker 3: Like imagine you have a credit score that's low, and

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Speaker 3: trying to rebuild can be a daunting task.

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Speaker 2: It's really difficult.

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Speaker 1: We've seen credit scores get weaponized against different groups, right

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Speaker 1: when we think back to predatory loans and things like that. Yes,

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Speaker 1: and that leads people not to trust institutions. I think

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Speaker 1: I saw a few research studies recently that showed us

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Speaker 1: increasingly the public does not trust large institutions as much

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Speaker 1: as they used to. And I think that's because some

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Speaker 1: people don't feel safe, and they don't feel safe with

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Speaker 1: their money in the bank. We've seen a lot of

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Speaker 1: volatility in a short amount of time, and you don't

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Speaker 1: know what that means. People want to have cash in hand,

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Speaker 1: or they're not sure about what to do with their money,

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Speaker 1: and that's a place where fintech could possibly help. I'm

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Speaker 1: interested to see what happens over the next couple of years.

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Speaker 1: So when it comes to the future of fintech, what's

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Speaker 1: in store. We asked Natalia about Clarnate's priorities moving forward.

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Speaker 6: I want to feel safe.

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Speaker 4: You know.

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Speaker 5: I want to feel safe personally. I want to feel

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Speaker 5: safe in relationships. I want to feel safe, especially with

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Speaker 5: how I spend my heart earned money that I've sacrificed

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Speaker 5: a lot for. We don't have that safety or trust,

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Speaker 5: not in America. I think consumer protection is going to

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Speaker 5: be a major focus of Congress, and rightfully so, you know,

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Speaker 5: there should be more regulation in some sense.

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Speaker 6: And I think we're also in.

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Speaker 5: A moment where we recognize that we're a fifty billion

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Speaker 5: dollar company, we're seventeen years old.

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Speaker 6: We need to do something with our platform.

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Speaker 5: We need to use it for change, we need to

446
00:20:58,880 --> 00:21:01,760
Speaker 5: use it to drive and act. So you're gonna see

447
00:21:01,760 --> 00:21:04,320
Speaker 5: a lot of that coming out of us, especially in

448
00:21:04,359 --> 00:21:06,840
Speaker 5: the US as well, Like we just launched a lot

449
00:21:06,880 --> 00:21:11,720
Speaker 5: of sustainability work. So you know, overnight on Earth Day,

450
00:21:11,920 --> 00:21:13,600
Speaker 5: all of our users over ninety million.

451
00:21:13,880 --> 00:21:15,160
Speaker 6: You see your CO two.

452
00:21:14,960 --> 00:21:17,720
Speaker 5: Footprint net checkout, do you really want to buy those

453
00:21:17,760 --> 00:21:20,760
Speaker 5: pants from you know, shean. We've seen it actually causing

454
00:21:20,880 --> 00:21:23,680
Speaker 5: users to reflect down like hey, do I really need

455
00:21:23,720 --> 00:21:24,440
Speaker 5: that lipstick?

456
00:21:24,640 --> 00:21:27,879
Speaker 2: But honestly, money can also make you very happy.

457
00:21:28,080 --> 00:21:30,440
Speaker 5: I mean there were times where it was so low

458
00:21:30,560 --> 00:21:33,600
Speaker 5: and lonely during this period that like that new lipstick

459
00:21:34,040 --> 00:21:37,159
Speaker 5: and putting it on, even to myself, like really really

460
00:21:37,280 --> 00:21:38,720
Speaker 5: freaking made me feel good.

461
00:21:39,119 --> 00:21:40,480
Speaker 6: Like if that makes me.

462
00:21:40,400 --> 00:21:44,080
Speaker 5: Feel beautiful, If I'm having a tough time, like I'm

463
00:21:44,080 --> 00:21:46,919
Speaker 5: gonna do it, and if something can help me do

464
00:21:47,000 --> 00:21:48,960
Speaker 5: that in a responsible way.

465
00:21:48,680 --> 00:21:51,359
Speaker 6: Like why not, Like we all need a little damn joy.

466
00:21:51,880 --> 00:21:52,760
Speaker 2: Yeah, you know what I mean.

467
00:21:53,000 --> 00:21:56,360
Speaker 3: Like sometimes you having a bad day and you want

468
00:21:56,359 --> 00:21:58,959
Speaker 3: to stop by and get a scuba ice cream from

469
00:21:59,040 --> 00:22:00,200
Speaker 3: your favorite ice cream shit.

470
00:22:00,359 --> 00:22:02,560
Speaker 1: A sprite from McDonald's with all the fizz.

471
00:22:02,800 --> 00:22:06,840
Speaker 3: Let me tell you, sprite from McDonald's is just built different.

472
00:22:07,000 --> 00:22:09,679
Speaker 3: It's not like any other sprite from any other place.

473
00:22:09,960 --> 00:22:12,320
Speaker 3: Sometimes you need that nice fizzy treat.

474
00:22:12,560 --> 00:22:15,200
Speaker 1: You need that level of effervescence to keep you going.

475
00:22:22,680 --> 00:22:26,800
Speaker 1: When I think about fintech, the options feel limitless. The

476
00:22:26,880 --> 00:22:30,640
Speaker 1: potential to do good feels limitless to me. Right when

477
00:22:30,680 --> 00:22:33,760
Speaker 1: I think about the flexibility that it gives folks. Yeah,

478
00:22:33,960 --> 00:22:35,480
Speaker 1: you know, there are things when I look back on

479
00:22:35,520 --> 00:22:38,640
Speaker 1: it now and I'm like fintech micro loans, go fund

480
00:22:38,720 --> 00:22:42,280
Speaker 1: me apps like Clara that allow you to pay an installments.

481
00:22:42,359 --> 00:22:44,040
Speaker 1: Imagine if you could do that at the grocery store.

482
00:22:44,160 --> 00:22:47,439
Speaker 3: I remember when Square came out that felt revolutionary to me.

483
00:22:48,000 --> 00:22:50,680
Speaker 3: And so imagine something like Klarina at the grocery store

484
00:22:50,720 --> 00:22:54,080
Speaker 3: where it's like you can guarantee food for somebody and

485
00:22:54,200 --> 00:22:56,679
Speaker 3: they don't necessarily have to have all the money up

486
00:22:56,680 --> 00:23:00,000
Speaker 3: front for paying installments, rather than going to the grocery

487
00:23:00,080 --> 00:23:02,359
Speaker 3: store and not being able to feed your whole family

488
00:23:02,359 --> 00:23:04,760
Speaker 3: because you don't have them all of the money right then,

489
00:23:05,000 --> 00:23:07,159
Speaker 3: And then think about what it means you don't have

490
00:23:07,240 --> 00:23:09,640
Speaker 3: to do so. That means you don't have to use

491
00:23:09,720 --> 00:23:13,159
Speaker 3: like payday loan services that eat up so much.

492
00:23:12,960 --> 00:23:15,719
Speaker 1: Of your pay in fees. It means that you are

493
00:23:15,800 --> 00:23:18,560
Speaker 1: also in some cases able to build some type of

494
00:23:18,560 --> 00:23:22,320
Speaker 1: financial credibility that could be then converted into boosting your

495
00:23:22,359 --> 00:23:24,720
Speaker 1: credit score if you aren't able to do that under

496
00:23:24,760 --> 00:23:26,199
Speaker 1: traditional methods or means.

497
00:23:26,440 --> 00:23:30,240
Speaker 3: I think a really important note is that these tools,

498
00:23:30,320 --> 00:23:32,640
Speaker 3: these buy now, pay later tools that are put out

499
00:23:32,680 --> 00:23:36,080
Speaker 3: there are meant to help us. But with anything like

500
00:23:36,200 --> 00:23:39,600
Speaker 3: this that deals with our money, we have to also

501
00:23:39,680 --> 00:23:42,159
Speaker 3: be very, very careful because if not used in the

502
00:23:42,240 --> 00:23:44,760
Speaker 3: right way, these tools that were put out there to

503
00:23:44,880 --> 00:23:49,160
Speaker 3: help us become more financially healthy can make us more

504
00:23:49,240 --> 00:23:52,240
Speaker 3: financially unhealthy. So in the ways that we think it

505
00:23:52,320 --> 00:23:54,760
Speaker 3: might boost your credit score, it might also hurt your

506
00:23:54,760 --> 00:23:57,920
Speaker 3: credit score if you aren't making your payments on time

507
00:23:58,160 --> 00:24:00,840
Speaker 3: or at all. These are all things that you have

508
00:24:00,880 --> 00:24:04,280
Speaker 3: to take into consideration because these tools are meant to

509
00:24:04,320 --> 00:24:05,359
Speaker 3: give us access.

510
00:24:05,600 --> 00:24:07,840
Speaker 1: I mean, I think the Internet, you know, if you

511
00:24:07,880 --> 00:24:09,320
Speaker 1: look at it, it's just like the sun. You look

512
00:24:09,320 --> 00:24:11,040
Speaker 1: at it too long, not good for you. But I

513
00:24:11,080 --> 00:24:14,800
Speaker 1: think it can be used for good. And it just

514
00:24:14,840 --> 00:24:18,200
Speaker 1: seems like combining that with finances, which seem to be

515
00:24:18,280 --> 00:24:21,760
Speaker 1: the key to unlocking everything in this capitalistic society.

516
00:24:21,840 --> 00:24:25,480
Speaker 3: Like you saidt tt yeah, giving people access to every

517
00:24:25,520 --> 00:24:28,960
Speaker 3: part of society, regardless of their income, I think is

518
00:24:29,040 --> 00:24:33,760
Speaker 3: really important in having a better, happier, healthier society. People

519
00:24:33,760 --> 00:24:37,600
Speaker 3: can afford better food, fruits and vegetables. Fast food in

520
00:24:37,640 --> 00:24:41,359
Speaker 3: the United States of America is very inexpensive, but an

521
00:24:41,400 --> 00:24:47,000
Speaker 3: apple or grapes or a watermelon or lettuce is very expensive,

522
00:24:47,280 --> 00:24:49,240
Speaker 3: and we need to be giving people the ability to

523
00:24:49,320 --> 00:24:52,040
Speaker 3: have options. I want to have something healthy, I can

524
00:24:52,119 --> 00:24:55,399
Speaker 3: have something healthy. I don't have the right income level

525
00:24:55,520 --> 00:24:56,359
Speaker 3: to eat healthy.

526
00:24:56,520 --> 00:24:59,040
Speaker 1: And I think it also just can help us open

527
00:24:59,080 --> 00:25:02,520
Speaker 1: the door at the level of decisions I'm making day

528
00:25:02,560 --> 00:25:07,000
Speaker 1: to day about groceries, about gas, about my basics, and

529
00:25:07,080 --> 00:25:10,199
Speaker 1: decisions I'm making about my long term financial health. You

530
00:25:10,240 --> 00:25:11,760
Speaker 1: know this thing I've seen where they say, if you

531
00:25:11,760 --> 00:25:14,000
Speaker 1: pay this much right now, you avoid this much in

532
00:25:14,000 --> 00:25:17,040
Speaker 1: interest charges, you know, or if you continue to pay this,

533
00:25:17,040 --> 00:25:18,600
Speaker 1: this is how much you will pay over time, or

534
00:25:18,600 --> 00:25:21,280
Speaker 1: this is how long it'll take. Just informing people of

535
00:25:21,320 --> 00:25:22,560
Speaker 1: how these systems work.

536
00:25:22,600 --> 00:25:24,240
Speaker 2: Let me know what I'm getting myself into.

537
00:25:24,560 --> 00:25:26,440
Speaker 1: Well, I for one, can't wait to see what's next.

538
00:25:26,480 --> 00:25:29,719
Speaker 1: It feels like this area keeps growing and I'm like more, more, please,

539
00:25:30,000 --> 00:25:30,440
Speaker 1: let's see it.

540
00:25:30,520 --> 00:25:33,440
Speaker 3: Yes, technology is taking us to the next level. I

541
00:25:33,480 --> 00:25:34,440
Speaker 3: don't heard enough word.

542
00:25:42,760 --> 00:25:44,720
Speaker 1: All right, it's time for this week's one thing. Tt

543
00:25:45,240 --> 00:25:48,160
Speaker 1: My one thing is really one person. I am enjoying

544
00:25:48,240 --> 00:25:51,320
Speaker 1: the art of Ashley Johnson. You can find Ashley on

545
00:25:51,359 --> 00:25:54,640
Speaker 1: Instagram at hiaj or you can go to a website

546
00:25:54,960 --> 00:25:59,679
Speaker 1: hiaj dot Co. I am loving Ashley's art and just

547
00:25:59,840 --> 00:26:04,040
Speaker 1: her whole curation of life on her Instagram page, there's food, art,

548
00:26:04,200 --> 00:26:07,680
Speaker 1: things about communication. It is beautiful and I am into it.

549
00:26:07,760 --> 00:26:09,760
Speaker 1: And the other cool thing TT is that Ashley's work

550
00:26:09,840 --> 00:26:12,320
Speaker 1: is going to be on display at the Nasher Museum

551
00:26:12,359 --> 00:26:14,680
Speaker 1: on Duke's campus in January, and we'll be there in

552
00:26:14,760 --> 00:26:16,119
Speaker 1: January so we can get to see it.

553
00:26:16,280 --> 00:26:16,879
Speaker 2: I love that.

554
00:26:17,359 --> 00:26:21,879
Speaker 3: So my one thing is this app that I was

555
00:26:21,920 --> 00:26:24,600
Speaker 3: told about by a friend. It's called I Talkie, and

556
00:26:24,720 --> 00:26:28,480
Speaker 3: on I Talkie you can learn pretty much any language.

557
00:26:28,480 --> 00:26:31,439
Speaker 3: It's not like other language apps where you know, you

558
00:26:31,560 --> 00:26:33,840
Speaker 3: kind of just type things in and you're listening. It

559
00:26:33,920 --> 00:26:36,359
Speaker 3: actually pairs you with someone who is fluent in the

560
00:26:36,440 --> 00:26:39,399
Speaker 3: language that you are interested in learning. So for me,

561
00:26:39,680 --> 00:26:42,760
Speaker 3: I wanted to learn Yuruba. My father's from Nigeria, so

562
00:26:43,200 --> 00:26:45,720
Speaker 3: I went on there looking for a Yuroba teacher and

563
00:26:45,800 --> 00:26:49,879
Speaker 3: I came across my Yuruba teacher, Mochisla, and she lives

564
00:26:49,960 --> 00:26:53,080
Speaker 3: in Nigeria, and so for the last four months, two

565
00:26:53,080 --> 00:26:55,280
Speaker 3: to three times a week I meet with her to

566
00:26:55,560 --> 00:26:58,320
Speaker 3: learn the language and it has been revolutionary.

567
00:26:58,400 --> 00:26:59,679
Speaker 2: I've tried a lot of different.

568
00:26:59,440 --> 00:27:02,680
Speaker 3: Ways to learn earn languages over the years, and especially

569
00:27:02,680 --> 00:27:04,639
Speaker 3: at the age that I'm at now, this big age

570
00:27:04,840 --> 00:27:07,480
Speaker 3: is really difficult. But I Talkie because they're pairing you

571
00:27:07,520 --> 00:27:10,760
Speaker 3: with an actual person who can cater lessons to you

572
00:27:10,840 --> 00:27:13,720
Speaker 3: and go at the speed that you need. It's perfect.

573
00:27:13,880 --> 00:27:16,639
Speaker 3: I feel like I am learning the language at a

574
00:27:16,640 --> 00:27:20,280
Speaker 3: pace that works for me, and it's sticking because she's

575
00:27:20,359 --> 00:27:22,639
Speaker 3: such an amazing teacher. If you're thinking about learning a

576
00:27:22,760 --> 00:27:25,600
Speaker 3: language and you want to learn from a person, I talk.

577
00:27:25,640 --> 00:27:27,560
Speaker 2: He is the way to go. And it's spelled I

578
00:27:27,960 --> 00:27:29,960
Speaker 2: T A L K I.

579
00:27:30,560 --> 00:27:39,480
Speaker 3: So that's what you're looking for in the app store.

580
00:27:39,960 --> 00:27:43,120
Speaker 3: Nope Cabs is a Spotify original production from Mega Owned

581
00:27:43,160 --> 00:27:46,280
Speaker 3: Media Group. Our producers are Jenny Radlan Mask and Lydia

582
00:27:46,359 --> 00:27:48,040
Speaker 3: Smith of Wave Runner Studios.

583
00:27:48,320 --> 00:27:50,320
Speaker 2: Editing and sound design by Rob.

584
00:27:50,200 --> 00:27:52,760
Speaker 1: Smerciak, Mixing by Hannes Brown.

585
00:27:53,040 --> 00:27:57,240
Speaker 3: Original music composed and produced by Taka Yasuzawa and Alex.

586
00:27:57,000 --> 00:28:00,679
Speaker 1: Suguer from Spotify. Our executive producer is Gina Yack and

587
00:28:00,720 --> 00:28:04,119
Speaker 1: creative producers are Baron Farmer and Candice Benriquez Friends.

588
00:28:04,359 --> 00:28:08,800
Speaker 3: Special thanks to Shirley Ramos, Yasmin a Fifi Camu Alolia,

589
00:28:09,280 --> 00:28:11,320
Speaker 3: Till Krackkee and Brian Marquis.

590
00:28:11,640 --> 00:28:14,520
Speaker 1: Executive producers from Mega Own Media Group are us T.

591
00:28:14,640 --> 00:28:16,320
Speaker 1: T Show, Dia and Zakiah Wattie.

592
00:28:25,920 --> 00:28:28,040
Speaker 2: Do you like Baja Blast from Taco Bell.

593
00:28:28,280 --> 00:28:31,080
Speaker 1: No, I'm saying no, but I've never had it.

594
00:28:31,080 --> 00:28:34,360
Speaker 3: It's probably one of the best sodas I've ever had

595
00:28:34,400 --> 00:28:36,520
Speaker 3: in my life. I've been drinking Baja Blast for very

596
00:28:36,600 --> 00:28:39,440
Speaker 3: many years, and I swear by it like I even

597
00:28:39,440 --> 00:28:41,760
Speaker 3: prefer it over McDonald's Sprite, which.

598
00:28:41,760 --> 00:28:44,760
Speaker 1: Really my top drink is actually McDonald's Doctor Pepper.

599
00:28:44,880 --> 00:28:48,320
Speaker 3: Oh for real, Mine is Baja Blast from Taco Bell,

600
00:28:48,680 --> 00:28:51,760
Speaker 3: a coke from McDonald's, then sprite for McDonald's.

601
00:28:51,880 --> 00:28:54,360
Speaker 1: Yes, I do remember coke from McDonald's in grad school.

602
00:28:54,400 --> 00:28:55,560
Speaker 1: I do remember that if you.

603
00:28:55,520 --> 00:29:00,720
Speaker 2: Cut me, I was bleeding coke from McDonald's. It kept

604
00:29:00,800 --> 00:29:01,800
Speaker 2: me going, it did

605
00:29:12,560 --> 00:29:12,600
Speaker 4: H