James comey there is evidence that any reasonable person in her position or any position of those with him she was corresponding should have known an unclassified system was no place for that conversation. Although there is evidence of potential violations of the statutes regarding potentially classified information, our judgment is that no reasonable prosecutor would bring such a case. Hari joining me now is glenn thrush of politico. What is the most important take away we should remember from the presser this afternoon . Guest Hillary Clinton is not being led away from her mansion in handcuffs. There will be no criminal indictment. Essentially, what he said was, no reasonable prosecutor would bring a criminal case against her. But there was the potential for either a security think should which if she were in the state , Department Might involve her security clearance being reevaluated, or some sort of internal administrative sanction. Then you set up a protocol of procedures that she should have followed. Of course, clinton over the past several months has already said she was sorry for this, and plant to deal with those in that manner anyway. Hari how important is the almost tongue lashing given in this . Said there are not any charges filed, extremely careless is a quote i expect the trunk campaign to be making ads with right now. Glenn careless hillary is better than crooked hillary. Lets put this in proportion. S comments sting, we have known for months Hillary Clinton should not have done this. Weve known she was acting contrary to the rules of her own agency. The detrimental information has been out there. The real danger posed was the criminal part of this. I recall when the story was was first broken by the New York Times in march, the clinton campaign, so much as it existed in march 2015, pushed act on the notion that it was a criminal investigation. This was in fact a criminal investigation. What occurred today, barring something unforeseen, there will not be a criminal prosecution. That is a big deal. James comeys tongue lashing, while it will find its way into ads, pales in comparison to the weapons clinton may have given the republicans have this become had this actually become a criminal matter. Attorney general Loretta Lynch said she would hear the recommendations of the f ei fbi. Will she stick with it . Glenn thats what we are hearing. It would be very unusual, perhaps unprecedented, for an attorney general to move beyond beyond beyond what in fbi director of suggested. Interestingery political subplot, when Loretta Lynch met with bill clinton on the tarmac. That has thrown a additional element of Political Uncertainty into this. There was a story revealing the clinton people would consider reappointing lynch if clinton was elected. Theres a lot of waters to be muddied here. The way i described this is it is a mixed glee bad for her trunk. On one hand, the republicans definitely would have preferred obviously to be running against somebody under criminal indictment. But in the absence of an indictment, clinton has still been very much damaged by this. Theres a huge opportunity cost for the last 16 months of her having this hang over her head. Thirds of americans, democrats and republicans, in the last poll i saw last week, dont trust Hillary Clinton. She has paid a political price and will continue to. Hari what has the republican response been today . Glenn thats really interesting. Donald trump put out his statement. Theres a certain sense of tranquility about his pronouncements. He has been very message discipline today, talking about the rig to system, putting clinton in an establishment figure who has the system rigged. He has been relatively circumspect, as have other republicans. Paul ryan, a speaker of the house, a member of the establishment, while he respects the process of the fbi and the results of the investigation, he doesnt understand how they could have possibly come to this. That is the fine line they are walking. Thrush of political, thank you for joining us. Guest great seeing you. Hari the rise of the socalled sharing economy is reorganizing how we live our lives. It is changing how we do business. Industry leaders have thrived alongside advances in technology that empower individuals to share and turn a profit. This new paradigm of commerce has widespread implications for the future of work and Even Economic growth. Joining me now is arun sundararajan. Thes a professor at nyu and author of a book about the sharing economy. Of common,s ceo providing Flexible Community minded shared homes. Rana fohoohar, im pleased to have them all at this table. First, lets get the Bigger Picture definition. How do you define it . It is not really sharing, if im charging you a fee for using something i own. Guest absolutely. We are traveling back to some version of the 18th century economy where individuals would provide goods and services to other individuals. We sort of rejected that model in favor of building organizations and increasing complexity. Some of those organizations are remaining and facilitating a crowdbased form of exchange where rather than accumulating the resources centrally, an organization will draw them from the crowd if and when they need them. Hari crowdbased capitalism. Arun i call it crowdbased capitalism. Except my book title. I chose the shadow economy. It sort of more broadly maximizes the number of people who know what im talking about. Ari brad, you run common it is a code living space. Living space. A co it is not the type of apartment most people are used to. Is there something generational happening where people are open to the idea of sharing something as fundamental as the space they inhabit . Brad i dont think you can talk about the sharing economy without mentioning access over ownership. There is a micro macro trend happening specifically concentrated around younger people, where things such as houses and cars, and even clothing that they would previously purchase and own, they are now accessing ondemand in a flexible way that they say see is a better overall experiments. Hari is there evidence of this happening on a large scale, not just specific to new york city or San Francisco where lots of these sharing economies can jump in . Rana absolutely. If you look at coops, companies owned by the individuals, this has been a big model and in agriculture, for example. It is becoming more common because of platform technologies across the economy. This is really crucial. As i talk about in my book, one of the reasons weve had this wealth gap and distortion and our economy and Slower Growth is it has been dominated by complex institutions, namely financial, creating a bifurcated economy where workers have only gotten a 2 wage hike since the financial crisis. Very flat wages. That doesnt work in an economy that is 70 consumer spending. These technologies will be very very important in terms of helping labor capture a bigger share of the pie. Which to me is crucial to the growing economy as a whole. Aran absolutely. Arun absolutely. I think a big shift we are seeing, a company in crowdbased capitalism is a shift in the role of the individual. From 100 years, individuals have been the provider of labor. Creating a wide friday of models of engagement, that allows the variety of models of engagement, that allows the individuals to ascend past that labor provider role. And take on some form of ownership. It may not look like complete driverip when an uber has less ownership than airbnb hosts, but it is a fundamental shift in the role. The trouble is we built all the safety net like things on the stability, all of the benefits. The funding model is wrapped around a fulltime employment world. We are at the early stages of starting to reinvent how we fund the things people really want. Make a living. Rana that is why a portable benefits are so crucial in the debate right now. Unless you have those nets, this model doesnt work. Portable benefits. How would it work on a global scale . If i rented out my apartment, if i perform some task for task revenue, how do i accrue longterm benefits . Rana if you step back for a minute, you think about that. On the high end, it is a portfolio career. At the lower end, the gig economy. It is basically people taking on many different jobs. Many of us are working at that already. I have three different jobs. Many people around the table probably have other jobs. What makes that stable socially is if you have health care that you can take with you as a freelancer, or from one parttime position to another. People are talking now in washington about portable benefits. Mark warner talked about this. Elizabeth warren is big into this. It is a sort of tweak the Public Sector could make to unleash Economic Growth that could be had, in turn the sharing economy into a positive, instead of something that we think about, we are all going to be uberized and outsourced, and end up losers in the economy. Arun we talk about the challenges that platforms like uber and lyft have faced in what should their workers be categorized as. But if you delve down to the bottom of it, you realize providers in the sharing economy dont necessarily want to be fulltime. They dont want the work structure. They want the good stuff that goes with fulltime. They want the income stability. They want paid vacations, they want the benefits, they want the insurance. They want workplace protections. It is time for us to sort of think about how we are going to create that infrastructure of protection around the new model of engagement, which is fundamentally empowering. Brad in many cases, the Companies Want to provide them. Things such as training, performancebased bonuses. Actually limited from doing that, because they dont want the employee classified as fulltime. They still want to keep them as independent contractors. When it goes to show is there is a gap between the independent contractor and the fulltime employee where there is a lot of people existing in limbo. Rana by the way, this brings up another issue, we will probably have to rethink the entire area of labor law. The way in which the relationship between companies and employees is set up in a decadesold system that doesnt work for the new economy. It will require legislative tweaking. Hari does this change where the wealth pools . Right now, look at airbnb or uber. These are companies with an enormous valuations. Technically, it is still the first founding group, may be Investor Group that profited. When you talk to the uber driver, there are not shares in the country company. Arun i think of course we have created a bunch of new tech billionaires. For every tech billionaire we created in airbnb, we also created close to a nelly and a million microentrepreneurs supplementing their income or keeping their home or paying their mortgage by running what does resemble a genuine small business. They set prices. They do merchandising. They build a brand. They have to manage inventory. I think the airbnb model is a good sort of template for what sort of positive crowdbased capitalism might look like. Issue. S a broader we are stuck in this world where got to sort of loose in the boxes around labor categories. We have to do it fast. While companies are starting to see human beings as assets, while we are at that point where the focus might shift away from raising capital to respecting labor, it is a relatively short window. 20 years down the road, automation will be at the point where that capital labor substitution will become easier and more fluid. This is the point where we see the equivalent of the labor unions of the 50s and 60s. The equipment of policy that could support a company like airbnb, that would be good for providers and is biased towards more favorable labor practices or ownership practices. Rana when i was reading your book, i was in interested in whether the sharing economy could be a kind of broader labor movement. A nontraditional movement. Usually, when you think of that union you think of manufacturing, working people, lower socioeconomic groupings. The sharing economy goes all the way up the socioeconomic ladder. There could be an opportunity to bring whitecollar workers and bluecollar workers together, new strengthimpart to labor, which a lot of economists feel is a waitress away to create more sustainable growth. Brad youre seeing a gulf of communities. Peopleormerly current might have gathered in churches. Now we are seeing less. Youve seen declining union membership. You dont even have a workforce. You dont even have a group of employees to go into the office. Common could become the place you live, that could become an important new Community Structure in the economy. The thousands of microentrepreneurs, as an employer in this workspace, what is the correlation between loyalty and flexibility . How do you make sure people were working through your company have some semblance of loyalty toward some shared mission, and say im going to carry the flag , for this brand, this is a Great Company to work for . If everyone can run off to the next project that is the next highest bidder, how do you say to your clients, i can guarantee this really fantastic talented individual that i have recruited can stay on the project for you . To be innovative about it. You have to think in a totally new way about how you keep workers incentivized. We have made a decision at common to shy away from 1099 contractors. Everybody from our cleaners to the managers, they are employees of common. Almost all of them have equity in the company as well. I think the sharing of equity is extraordinarily important. You are seeing other Companies Take even more extreme versions of this. You mentioned in an article the other day, the Ridesharing Company that is actually owned by the drivers, which i think is an extremely promising development. Arun there is a Company Called thats , rana how do they compare to uber . Arun they have a comparable size now. I think the difference is, you cant install it, you have to be invited by a driver. The driver seemed a lot happier. Rana i bet. Is still early days, but it remains to be seen. In 2012, uber drivers were happy as well. [laughter] more importantly, you can call a number. There is an office in one world trade center. Theres sort of a feeling of respect that the drivers seem to be reacting very positively to. This is in some ways a tried and tested competitive strategy. Ubers identified weakness is its relationship with its drivers. They can target on that dimension. Rana a us to the point about human capital. Companies are now competing for drivers. Arun that will sort of even out the bargaining position between the providers, the individuals and institution overtime. But it may not be enough. Brad you have to move quickly. Is clearly betting that in 510 years they will have a fleet of driverless vehicles. If you look at driverless technology, it is clearly against removing the driver from the equation. They know that is their weakness. Uber has said there will not be any drivers. Hari what role does the state play . When you are about to take over a building and you have to go by building codes, what framework should there be . Bare minimum . Where is the line where it becomes an infringement on your ability to inundate . Brad when we think about regulations, first and foremost, we look at the purpose of those regulations. Why were they conceived . In 99 of cases, they were conceived in the right spirit, in the right manner, and they are an incredibly important part of the ecosystem. Its important to understand why those regulations exist. The thing that i actually focus much more on, i think sometimes entrepreneurs had a tendency to be overly focused on specific regulations is more of the user interface of government. Is it easy to get someone on the phone . How long does it take when you are applying for a permit to get a yes or no answer . I actually believe theres too much emphasis on the regulations themselves, and there needs to be building codes exist for good reasons, to protect people. To make sure people are safe and things are done in the best possible way. It is much more about the user interface and the process that holds entrepreneurs back. Arun i will go a step further actually, and say that as we sort of transition into this new world of capitalism, the role of government is going to change in a way that makes it much more of a rule setter. A lot of the execution of the regulations themselves, and maybe even inventions of new regulations, is going to happen naturally through other stakeholders in society, the platforms. Common scales, there will be a host of new regulatory issues that come up. We wouldnt have known that iving did not col exist in scale. The wrong response is for the down andt to clamp follow the say follow the rules, and we will enforce them. The right approach is to treat the platform as a partner, to the role you are going to be playing in the future society isnt just as a marketplace. It is more than that. It is someone who has better information about where the market is failing. So you believe platforms such as airbnb should be regulated as Public Utilities . Arun we should stop thinking of them as the entity to be regulated. There are not only their protagonist, they are a partner. Stop thinking of them as a are a part of the regulatory ecosystem. They have better information. We have all this new opportunity. You have this really detailed and this great sort of history of interaction between two individuals. Discrimination, for things like safety, all of those, theres a new host of opportunities for new regulatory models that starts to come up. We have to bring the platforms into the regulatory fold rather as partners rather than thinking of them as people who are breaking the rules. Rana i think the role of government ultimately will be making sure the sharing economy does not become a zerosum game. Hi c2 diametric futures. One where you have the uber model. The actual workers is not getting a huge share of the value. The wealth is in a small number of peoples hands. You have a different model in more of a capitalism 2. 0. Most mainstream economist with would say that is the path to more sustainable growth. Particularly as we are going into a period, where returns are going to be lower. If we can get growth more broadly shared amongst labor, we will see faster Economic Growth over all. Right now, it s