In the depths. Or inmate in the shallowness. Welcome back there are few industries in the world harder hit by the coronavirus than the travel and Tourism Sector without question 2020 will go down as one of the worst years ever for the industry but in reality were only in august and still have a long way to go already the effects are being felt in fact the Hotel Industry is warning that as a whole they are facing an absolute Economic Disaster and a desperate plea to congress submitted this week the industry claims that nearly 25 percent of all hotels in the United States are at risk of foreclosure simply put those hotels have loans that are at least 30 days delinquent or longer at the end of 29000. 00 the same number was 1. 9 percent of hotels and this is just the beginning so joining us now to discuss is boom bust cohost investigative journalist bence want and travel expert from money we have dot com very choice thank you both for joining us today ben i want to start with you can you give us a rundown quick of some of the other aspect of the travel industry stuck struggling right now. Yeah its kind of like a pick your poison kind of situation right now it doesnt matter what part of the travel industry youre in right now things are going very very poorly you have the Airline IndustryQuantas Airlines out of australia saying that for this last year of this last fiscal year that is theyve actually lost 4000000000. 00 in australian dollars in terms of revenue thats about 2900000000. 00 u. S. Dollars and they Say International travel for them will not resume until the middle of 2021 the middle of next year you talk about the cruise industry you know the Cayman Islands saying that theyre not going to allow International Cruises to come in to the Cayman Islands until at least after december 31st of this year so it doesnt really matter what sector youre in everybodys taking it on the chin right now barry vera destinations like bali that plan to reopen the tourism by september but overall are people actually traveling right now and will tourism pick up again this year or is everything going to shift to 2021 or is it going to be 2022. I think it really depends on where you live regardless where in the world you are i think domestic trouble is that they yes thing right now obviously mainly just because of border closures you know here in cannes i can only go to certain destinations u. S. Citizens can only go to certain areas but if you can stay domestic theres definitely an opportunity to travel and the interesting thing is a lot of these countries around the world theyve got their best laid out as ali was trying to open out later this month theyve already had a delay are through the caribbean early so i can cope and i had a reclusive borders so i think a lot of these countries around the world are see what other countries are doing especially in europe and asia and trying to decide what is the best Course National he said maybe thats just you know recalculating maybe focused on 2021 ok some domestic and just hope for the best for now and now but i want to go back to the Airline Industry now we know that Smaller Airlines worldwide have been struggling is there any sign that things are Getting Better for airlines especially in the u. S. Where congress that has already given them a bailout. Well congress to give a huge bailout to airlines as you know and the reality is that bailout actually had some Strings Attached to it which is that they could not layoff certain workers and they had to continue to provide service for customers up until a certain point that certain point september 30th well as of october American Airlines has already said theyre now going to cut flights to 15 different small cities across the u. S. Because starting in october theyre no longer bound by part of that 25000000000. 00 that they received you know in part and so i think thats one of the issues that we look at whenever Congress Comes in and bells out these these companies they do it to extremes to it but as soon as that time runs out its customers who are left waiting now and so we dont you dont necessarily blame the airlines for the decision that theyre making they have to make Business Decisions here but its bad for customers all around and then we look at airlines around the world you know Smaller Airlines like over in the u. K. You have easy jet and ryanair which both right now are struggling and dont even know if theyre going to be able to stay in business at this point i know barry you being a travel expert you also deal with personal finance i assume youre dealing with people regularly what about these airlines begin to cut these routes because if air travel becomes more complicated for travelers wont that simply weaken the willingness of travelers to use them what im asking here kind of is are airlines about to find themselves in a very vicious cycle. Definitely but in the end it comes down to business decision you know theyve got to remain profitable and if theyre finding that the smaller destinations smaller airports are making the profits to have to come in you know everyone talks about government sanchez you know theyve been held out to a certain extent certain conditions that when that money runs out they need to think about their autumn life so unfortunately that means people who are in the rural areas the small airports are going to be cut at the same time maybe that means airlines can consolidate at their major hubs and refocus you position their search carriers and focus on routes that will be profitable right now though where are those routes going no one really knows based on their courage probably should say even if you want to travel youve got to do what any court you. That exist in other countries are returning home and what local regulations that are currently in place i mean air travel seems to be certainly complicated right now and it may be bad there is one Silver Lining for the cruise industry is that a new survey shows that the vast majority of past cruisers surveyed say that they plan to cruise again before the end of 2021 thats some good news right. Well it is good news certainly for the cruise industry it demonstrates that you know that a lot of people are anxious to do that again in fact that number is 86. 6 percent of those surveyed said that they were going to cruise again before the end of 2021 whats interesting also because of buried in those numbers when you dig down on them though is the fact that those same majority of people say they do not plan to fly to the destination to get on the cruise they would rather travel in a different way or take a cruise thats closer to where they are rather than getting back on an airplane so i do think you know through all the talk of what it means to create safety protocols and just traveling in a safe safer environment is also somewhat of a turnoff to people because there are so many hoops that theyre jumping through in order to travel and so the fewer steps you have to take in order to do so it seems like thats where people are leaning very what are you seeing with the cruise industry because its kind of a selfcontained vacation you go get on have all your restaurants you have all your detainment all of that taken care of and the people who like cruises as we see from that survey really love cruises what do you say in there. You know i have to agree with the survey i talk to anyone who loves a cruise and theyre they cant wait to get back a lot so with the cruising industry theyre basically going to have to appeal to their core audience to move before they want to make sure this audience these customers are going to feel comfortable republican and on to their careers and what would that mean social distancing or maybe implementing marketing as far as new customers are concerned theyre probably like putting them on the back burner right now they realize it can be very difficult to attract so theyre probably not to put a focus there so theyre really working just on. Going to sit around and rebuilding their brand after all the negative press they had because a cold 1000 travel expert barry choi cohost ben swann thank you both for joining us today from. And fire lee are you one of those people who feel overwhelmed when you watch your favorite streaming site do you generally spend more time sifting through titles that you actually spend watching content at. Actually me right there and if youre like me you may be in luck as tech crunch has confirmed streaming giant netflix is testing out a new shuffle play feature now according to reports netflix will look at what youve watched in the past as well as things you have saved on your list and decide the perfect fit for you might even grab a random episode of a show you watch regularly now there werent any broader details on a roll out of the program to come but the company did tell the burj we run these tests to Different Countries and for different periods of time and only make them broadly available if people find them useful and thats it for the casual bus odd to buy another brand new portable t. V. App which spilled on smartphones and tablets through google play and the Apple App Store by searching portable t. V. Portable t. V. Can also be downloaded on newer model Samsung Smart t. V. s as well as roku devices or simply check it out at portable t. V. Well see you next time. Ill look forward to talking to you all. That technology should work for people. I really must obey the orders given the human beings except were such a conflict with the 1st launch just a patient we should be very careful about Artificial Intelligence and the point of view speed is to break trust in shia. Areas and with Artificial Intelligence resummon to deal. The robot must protect its own existence and existence. It. Will be used as a war of hope of a Global Solution to the police. I was lonely and the need for you to leave and it. Wasnt just some of. Those those above you so. The point was to use the book with those ghost discovering that those that would use of the visibly you see was nothing to me of course. This is boom bust the one business show you cant afford to miss french a bore in washington its labor day in the United States so we have a special show for you coming up at 6 oclock is facing a ban in the United States we spoke with one of the top content creators on the platform to discuss just how this will affect those that make tictac what it is and who would be coming up at the end of the high travel season if not for of the covert 19 pandemic but we got some expert analysis on the state of the industry and how it surviving with a packed show today so lets dive right in and now for the latest in the ongoing saga involving social media app tictac as we previously reported President Donald Trump has said he will ban the app in the u. S. By september 15th unless a deal can be made for microsoft. Or another American Company to purchase tick tocks u. S. Operations one point that has confused onlookers is the president s contention that a portion of the purchase of the app should have to go to the treasury now White House Press secretary kelly mcenaney was asked about this on tuesday but offered little clarification so im not going to get ahead of the president on any official action but he has made that point and he and the secretary pompei i have said that the u. S. Acts to the u. S. Will take action in the coming days on chinese apps including tick tock tick tock sees me due to the National Security risk and we all agree that there needs to be a change especially with take talk electing significant amounts of private data on users its unacceptable now meanwhile President Trump himself spoke to reporters on tuesday and referenced the overwhelming popularity of the juggernaut app ticktock is very successful it does tremendous business in the United States people are riveted by it i mean i have many friends when they saw that announcement theyre calling i think their kids love it they dont because it will get to see their kids anymore but they are its an amazing thing whatever it may be. This week we have discussed the Cyber Security issues as well as the business implications regarding the situation with tic toc but this all raises the question of how will this move affect those who make ticktock what it is and thats the content creators so lets go ahead and bring in one of the top ticktock influencers zach king into the show zach big you so much for joining us we really appreciate it today. Now i want to start with what the president actually just talked about there its a highly popular why has ticktock been able to open that door and become so popular especially over the last 12 months here in the United States. I mean you know has it influenced or on. Really in this industry for the last 12 years you know ive been on 65 since it was called musically 5 years ago and so for us the rise wasnt even in this last year thats made it successful i mean theres been a lot in the last year but what theyve been doing from the beginning i just a couple years ago was there out with so power on that it leveled the Playing Field for anyone who wants to who has a stone and can make a little fun story or a joke or do a dance or whatever it may be theres a ton of different ecosystems and creators on the internet on tick tock but allows anyone to have the chance to go viral on a totally different level thats thats bigger than weve seen possible with you tube thats bigger than we were instagram and by an event so thats why its so exciting i think thats the drop not only is it you are but on especially for those viewers who are trying to concentrate on the l. Because that definitely as a as a viewer of tick tock even if you dont create your own content its very consumable so if youre getting a short video its got a lot of them are music and dance so it gives you something to not only watch but listen to is very enjoyable in that regard now when it comes to this potential purchase from microsoft do you have any concerns about the control of the app changing hands to a Different Company or an outright ban for that matter how is that going to affect the content creators. So the 2 main options that are present on say were now are then we should be a bummer because there are so many people who love the app to talk but also because theres content creators and im not even talking about the content creators like myself who have already kind of excuse the charlie that its in the expand it beyond that theres a lot of creators not yours but its really not the small kind of the some of the just starting creators budding. Creators to just you know last couple months for getting that runway they have moments of growing their audience and then its going to be shut down the banner to be terrible but also they have lost to a company like microsoft or a tech company at least i think youd see a receptive audience to Talk Community we would be probably thankful that microsoft took a look at the security concerns and then the apple live but the other concern in that bucket is and you merged the 2 managements and cheap tick tock innovating to to grow that success even beyond what it is today that would be the question that were facing but at the end to your initial point on the 1st question there which is if they happen to adjust the algorithm in some capacity and then they push the bigger ticktock stars over people who may not be known that can create a problem for people trying to break through in the industry and i want to talk about those people because like you said you diversified you have millions of followers across instagram you tube a tick tock and use not started but you were on vine when it was very popular but saw that kind of go away what or what do you kind of give it as far as help to other influencers who are just starting to build on take that what would you tell them to do as this whole situation is happening. While i was talking to other people that i meet on the way in the same journey as i make sure youre diverse im your audience from the get go its a very beginning i mean not right away but once you have a decent 10000 or 100000 people on you i met that can really look at your stuff and find creative ways to get there email contact because theyre going to want to hear from you directly or theres a lot of services now that do text messaging but the goal is to have a direct connection to a small portion of your audience which is the most dedicated and loyal portion anyway and thats you know how its already a little too late to do that now with a month left but thats something from the get go i think creators need to be thinking about how any platform i wanted. I have to you dont direct connection years ago you know it was amazing reach and then when they put the pay wall in front of it you know one percent of our audience must for the coast so they had something you always had to think about the space and now its to graham is officially launching their ticktock competitor in more than 50 countries they actually launched that wednesday including the us what do you make of this new platform and could this actually kill ticktock while the app is in limbo as a lot of content creators might move to reals where they can actually make that that kind of impact of their. Intersection of all this timing is fascinating to watch theres a lot against tick tock and and with the timing of instagram reels coming out it could be im another moment like nacho how instagram swooped in the perfect time did their version of stories and it was very successful because everyone you kno