The Unemployment Rate rose for the first time in three months in november. C. P. I. Dropped more than anticipated to six . A bit of early date from china indicates the economy is finishing the year on a firm note. There seems to be no signs of faltering after tree straight months of 6. 7 of groat. Companies reporting momentum with mood among execities the best since august of 2014. Intelligence saying the expansion picked up to 7 last month. The bundes bank has a warning about italys banks. They told the newspaper that Government Fund should be a last resort and that measures should be offered to lenders that are fundamentally healthy. They may need as much as 9. 2 billion. That is based on a recent stress test. The pangs board will meet to discuss. Its twitter account was hacked nd falsely reported Brittany Spears death. Officials plame the earlier ttack on nani hackers. Super marios run seems to be coming to an end. The game is only available on longer vices but was no highest grossing and in any done. A week earlier it was the most profittable app. It was still on top in 88 country, down from a peak of 138 on december 17. We look at the markets at the moment, the once that are trading. Asia mostly shut because of the boxing day holiday. Have korea, japan, taiwan heading in different weeks. Welcome to businessweek. I am carol massar. In this special year end double issue, poland offers donald trump a blueprint for how not to drain the socks. And how it is sunny for Goldman Sachs. And wick pasadena dwra wants to become the Gold Standard for diversity in the work place. All that ahead on Bloomberg Businessweek. [captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. Visit ncicap. Org we are here with the editor in chief, may began murphy. In opening remarks you look at technology. You think about the yahoo hacks and the samsung phones, not such great stories, but overall not a bad year. This is going to be one of the seminal pieces setting us up for 2017. We can talk about samsung phones catching on fire, hacks or some of the companies that didnt have a great 2016. But the point made in this article is underneath that we have seen things like uber make advancements in selfdriving cars. We have Seen Technology and computers ability to read speech add accelerated levels. What it does is how technology is going to step forward and how it pushes itself to come out of the ago n. S. A. Ic political stance. Have had a huge confusion about news. Is this going to be the moment where tech has to come out from the shadows or a politicaly neutral stance it has tried to take in terms of privacy and technology and be forced under trump to make a stand. And not just tech. This is Good Business. It has been a 2016 full of surprises across western democracies and the world. It is a time to step back and say look, we are facing an unprecedented rise in economic pop has and a rise in threats of terrorism and et cetera. We wanted to point out some of the companies and relationships, some of the parts of the world where people are doing things that you dont know are as good as they are doing. Woe want to celebrate that. We want to step back and look at business and say look, we should recognize and tell people who are fighting for sustain ability, fighting for fishing regions in the South China Sea and take a holistic view of business. One of the features is on wikipedia and what they are trying to do in terms of making it more diverse. This is a fascinating piece. One of the great statistics in this piece, there are like ,300 articles about princess leiahs home planet. Whether it is writers, social justice figures, and this goes unthe covers in looking at wikipedia and what efforts are taken to change that. Recruiting more towers editors, having people have more access to put in these names and flesh them out. It snoddy easy. 80 of wikipedias current editors are white and male. Many voices are saying this has to change. It is only reflective of a certain segment of society. Tinues o change and con to be a change. It is a look at how this can change and what we are seeing across all areas of technology, pushed up instead of down. We spoke with a reporter. Wikipedia founded in 2001 is an online encyclopedia. It is free to use and free to edit. So anyone in the world, you, me, the president can go on and just start writing encyclopedia entries. Then there is this giant community, tens of thousands of editors who then look at that and reedit it and change the entries. It is this continually selfcorrecting organic thing that somehow manages to be quite good. 10 years ago people sort of made fun of wikipedia. It was embarrassing to have a Wikipedia Page open in a news room and you would never admit you looked at it. Now it is not perfect, but it is good. It is about as good as comparable encyclopedias or text books. There are a few areas where it is less good like in terms of prescription drugs, but it is good. What about editors who then look at the entries . This is where it gets sort of problematic and interesting. Wikipedias original users were open Source Software geeks. In other words, white guys who are interested in tech. That has left the encyclopedia ith sort of limitations. There are certain areas of expertise that it doesnt have, and there is than much diversity. You have an editor base that is like 90 male, mostly white and from the u. S. So you see gaps in wikipedia. The foundation which manages and manages may be a generous term but attempts to oversee the encyclopedia is working on it, but so far they havent accomplished tons. There is no editor in chief. Exactly. There is no boss who can overrule and article or commission an article or delete something. It has to come from the bottom up. There are different layers of volunteers. There are administrators, but there are Something Like 1,200 of them. Those people are also volunteers. There is no overruling a wikipedia area. That gap is a filter bubble problem . Yes. It is this idea. We tend to think of the internet as being this thing that encourages a diversity of opinion. I can go on and i can read very cogent argues from people on other side of my political beliefs. Pretty much endless amounts of content about anything. But we pretty much just find stuff that we agree with. During the conversation around misinformation or fake news around the election, one of the things people talked about was the idea of filter bubbles. You see an article on facebook that confirms biases that already exist with you. You see donald trump just shot somebody on fifth avenue, you are more likely to share that and that perpetuates this misinformation. Wikipedia has the same problem. You have this group of editors that are interested in tech and running an encyclopedia, but arent familiar with all areas of human knowledge. So you get problems. In 2013, harper lee, one of the greatest american novelists was listed not on a page for erican novelists, but on a page for american women novelists. There will be long entries on moons in the tar wars universe, but he will be missing key elements of feminism or world history. Topics that are important. Tucker a Good Business into a good cover was the job of babbitt vargas. It is another special issue. It is one of those covers that obviously has to snop size an entire sort of package of features, stories. The stories of all over the map. In talking to everybody. It is quite a ring. Yes. So rather than try to cram that all into the cover, we just went with the overall theme of the issue, which is Good Business. A lot of times we do stories that are slightly critical of businesses we cover. This is in some cases the opposite. So we go with a very positive theme overall. Is it easier or more difficult when you have a theme particular issues versus one story to put on the cover . It varies. Good business is tricky because it is so simple. Sometimes we have to tell ourselves it is ok to embrace the simplicity of the idea instead of doing something more con september wal. If we focus on our one story, we have the story on the cover. It can go both waits. These are things that are symbols of well done, Good Business. It is a freaky hand. We have one illustrator on staff, and she has a very unique style that we use on the inside as well. We had her render this slightly odd looking hand. The good part is like overkill. It had look Good Business, great. Yes. We have a tendency, if we are going to go with something, we do it to an almost byperbolic degree. Up next, a warning from poland. Hat happened when a party made properties. And it is billing itself as a you noah kind of utility and got a lot of big money behind them. This is bloomberg. Welcome back to businessweek. In the Global Economic section, the lessons poland can teach donald trump if he does intend to drain the swamp in washington. We spoke to a reporter, mark champion. In poland you had a government that came to power in october of last year, and they made some of the same complaints, road to power on some of the same resentments and issues that donald trump did in the United States. Their support base was out in the countryside, the smaller towns, people who felt left behind by globalization and the benefits of joining the european union. They came to power promising to sweep away an elite. Now that is a different situation from the u. S. But what the president and the party said was there is a kind conspiracy of excommunists and lillibridge rat allies who have run and misruled poland since the 1990s. They spent a year. They had promised that they would sweep these people out, and they have gone about doing it. They removed 300 executives from the staterun companies and put in different people. They removed about 1,600 people from the Civil Service and replaced them. They removed 130 or so journalists who either were removed or resigned from the public broadcasters, put the public broadcasters under their volley, the Prosecutors Office under their control. So they have been doing that. The interesting part is that as they began to do that, they pushed up pretty quickly gainst checks and balances that are in the democratic process. That has led to a big fight in the Constitutional Court. Talk to us about that fight. What is it and where is it going . We have a big moment right now. On december 19 the head of the court, his term expired. He has a nineyear term. It expired. He has been blocking a bunch of changes they have been trying to make for the last year. First of all, they try to put an extra three judges on to the court who they werent really entitled to put on to the court. There are 15 on the politician court. They werent the first to do this. The previous government had tried to add an extra two. Those were extinguished by the Constitutional Court itself, found young constitutional. But now justice is trying to appoint five instead of the two that they should be appointing. So they have resisted that. The government has put through six different pieces of legislation determining how the court should run. The upshot of most of that legislation is the court made it much harder for the court to scrutinize legislation and declare is constitutional. It is essentially neutering the court. If we look at poland, and we are trying to understand certainly for those folks here in the United States what might happen as our president elect donald trump talks about draining the swamp. What are Lessons Learned from what we are seeing in poland potentially . Well, i think the primary lesson is that when you went to do something really radical. Rightly or wrongly, that is really not the question. But when you want to move large numbers of people out, and you want to change the way that the system works, in order to do that very quickly, you tend to come up fairly soon against checks and balances that are inserted into the democratic process in order to make sure that a majority government doesnt run roughshod over the rights of the minority who didnt vote for them. That is lesson in poland. It is not a prediction of what is going to happen in the u. S. Things have changed enough over the recent years that we can no longer say look, those countries in eastern europe, they are completely different. It is a little weird there. They get more radical governments. We are getting pretty radical governments and decisions now in the west. He point of this sort of parable is really to understand where the pressures will come. Up next, the seemingly midas touch Goldman Sachs has no matter who wins elections. And how some colleges, the socalled little ivys tap into their connections on wall street to deliver top returns. Welcome back to Bloomberg Businessweek. You can listen to us on the radio in several stations. And in london on these in the markets and finance section, how Goldman Sachs managed to come out on top with the Incoming Trump administration, even though candidate trump targeted the bank on the campaign trail. We spoke to a reporter. It has been remarkable. Their stock is up Something Like 35 since donald trump won the u. S. President ial election. Some of that or a lot of that has to do with trumps policies and the fact that a lot of people think he is going to roll back regulations on wall street. He has talked repealing all of dodd franc. It is at least 1,000 pages. It is unlikely that all of that is going to get rolled back. Volker rule ke the is there. With using o do bank money and others to invest in private equities. It is a ban on prop trading and a limitation on stakes in hedge funds and private he could quit funds. Both businesses were very big for goldman before the financial crisis. Stakes in hedge funds and private equity funds remained big for goldman. They still have roughly 7 billion left they have been working on selling down but havent sold yet. And then the prop trading, they have been subject to the ban too. It is not clear to us how tightly that ban has been enforced in the last couple of years. This has to be one of the most interesting stories of the year where you have after the trump election, goldman is up, morgan is up, all the Financial Companies leading the market. But then leading into the election, obviously they werent exactly portrayed in the best light not only by the public, but by trump specifically. They endorsed hillary clinton. They came out and said that they think she would be a good president. Spkly at goldman, there is a relationship between clinton speaking at some of these places that Trump Supporters put out in the limelight. How is it this happen . Are are and trump did an add where he specifically targeted lloyd of Goldman Sachs and said how terrible they are. How does that work . Did they won trump to win all along . What is the answer there . That is a good question. I wish i had all the answers for you. I am as surprised as you guys are, as a lot of our viewers and listeners are. I think some of it has to do with the fact that a lot of Trump Supporters arent that closely monitoring who his appointments are. I dont know, but my suspicion came are not i just off a conversation with somebody down in d. C. Who has been watching this pretty closely, and the point he made to me was if the goldman guys at the top of Trumps Administration create jobs, bring manufacturing back, nobody is going to care that they were goldman guys. They just want their economic livelihoods restored and brought back. So you have a president elect who is making appointments, it is during the holiday season, maybe the people who got behind trump are not watching really closely. And then come january into february, the rubber will hit the road and they will see wow, we have a couple of goldman guys. Lets see what they can do for me. As a reporter, i cant think of anybody who is more ingrained with your sosses. You have been on this beat a while. When you talked to people on wall street, what was the reaction to how their own sector has been favorable to investors the past week . It has been amazingly fascile. It was hours after the trump election and the election rulls came in, and we were already talking to people who said this could be good for us. We could get behind this guy. So the ability for them to quickly switch and sort of get behind the winner, even though i have been doing it a while, was pretty remarkable. In the markets and finance section, they may not be ivy league, but small liberal arts colleges in the northeast have big wall street connections. Sometimes that is good for endowments, but not always. The little ivys are the designation that people have ven to the wealthy northeast schools, the one where if you couldnt get into harvard, maybe you will go to colby or Something Like that. Great schools. Great schools. But they dont have that same intensely competitive application process. They have dow jones acceptance rates, not single digit. How does the notoriety it ounds ridiculous, but how does acceptance rate translate to endowment and how much money they have to operate with . If you have more applicants, you probably will have a larger class. For these schools, they are smaller, they have a smaller alumni base and they have fewer alums they can tap and ask for po million to 100 million for that. Endowment returns. We have seen endowment returns from a lot of universities. It has not been a year or so, or two. Eye out for the little have i. It was 2. 5 , which object level is a bad year. For the little ivys it was worse at 3. 5 . So it was worse than the National Average. My reporter and i wanted to look into it. It kind of defied what we would think because you have these prestigious institutions with these investment committees that are chock foul of wall streeters, really smart