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CBS Sunday Morning

CBS Sunday Morning / Jane Pauley
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July 29, 2018 10:30 am

CBS Sunday Morning

CBS Sunday Morning / Jane Pauley

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July 29, 2018 10:30 am

Universal basic income; Co-working: Revamping the way we work; Rescuing destroyed cash at the U.S. Mint's Mutilated Currency Division; The story of the My Pillow king; Animal influencers: How pets earn big bucks as Instagram stars; Real estate to die for; Selma Hayek; Can money buy happiness?

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CBS Sunday Morning
Jane Pauley

CBS Sunday morning podcast is sponsored by Edward Joe college tours with your oldest daughter updating the kitchen to the appropriate decade retiring on the coast. Life is full of moments that matter and Edward Joe's helps you make the most of them.

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Let's partner for all of it. Learn more@edwardjones.com good morning boy is all this morning on call resolve the host marketplace on public radio and this is a special edition of Sunday morning or Monday. Let's start with the basics you need money to spend money for people with low incomes or no income at all that the problem that led to calls for a guaranteed minimum income, a promise that the check is in the mail leak out will report our cover story radical economic theory happens if you give people cash to better their lot. No strings attached.

You give people the dignity essentially of making decisions for themselves on their own about how they're going to utilize the cash assistance to get universal basic income idea gaining new currency, especially one California city ahead on Sunday morning a pet project is providing a pretty good income to one enterprising young woman with Richards lessened her will meet her clients.

This monkey has millions of followers on Instagram. This hedgehog has 100,000+ and they both share Edward aged animals all so you invented this industry is coming up on Sunday morning. Salma Hayek is an actress wasn't satisfied with financial success just committed to improving the lives of the world less fortunate, shall be telling John Blackstone what has made you such an activist wizard talk with actress and producer Salma Hayek and you soon understand wants nothing less, than to change the world is hard to decide who should get money you spent the exact house should be spent. The best is the best lesson I am lending. I won this relatively great so I tried to have my own contribution. I had on Sunday morning the dream some product to die for.

Is the stock in trade for the businessman Luke Burbank's been talking to hundred and 50,000 great waterfall is well manicured bearing shoe doesn't just sell property in Los Angeles is totally hot housing market.

He sells eternity. My nickname with my friends as they subterranean condo King.

That's right bearing shoe is a cemetery plot broke. You are to be close to all the rich and famous.

It's the real estate purchase of a lifetime.

Later on Sunday morning will have those stories and more. When Sunday morning continues, check is in the mail. Technology is changing the kinds and number of jobs that we have in this economy. So there's a push to get people who lose out a guaranteed minimum income but how big would that check be and who would come from questions for week calendar answer in our cover story, sometimes assigning a window can be a sign of the times when emblazoned outside AX in San Francisco, says it all for years that robots are coming for a job eventually that's why no one here seems to prized handed their machine made, said Mark Armbruster can crank out about 120, if any mistakes you might get away looking future human, that is, in which case might have you feeling pure about your job. Best estimate is about 30% of all jobs. People now do will be lost to technology, but most of those will be replaced by new jobs. The real problem is that the new jobs will pay as much as the jobs that are lost Robert Reisch with the Labor Secretary under President Clinton.

Like he says even if I ask there are humans being paid to work alongside techno-seismic shift is coming. Reisch forces to look at work in a whole new way work gives structure and meaning to people's lives and if we don't have to work are people going to become philosophers, painters, artists, are they going to be involved in their communities to voluntary work or they just sit around watching television. We really don't know that we don't what we do know is the income disparity in this country will likely only grow that has some suggesting a radical idea universal basic income guarantee wage for everyone working or not. No strings attached.

There all kinds of mysteries and potential flaws with regarding universal basic income but it's inevitable going to have to seriously consider universal basic income.

It's nothing new. Thomas Moore sought as part of his fictional utopia as early as the 16th century Richard Nixon once flirted with the idea, but perhaps its most eloquent spokesman Dr. Martin Luther King Jr. and me regarding the guaranteed minimum income. All all all about the face of it, this notion of just giving people free money. It sounds pretty simple. Sounds pretty attractive.

The problem is it's not free.

There are trade-offs in order to finance something meaningful as a basic income for truly poor people would require us to find significant amount of additional revenue.

Where would we find Prof. Laura Tyson teaches economics at UC Berkeley and says even if every other social safety net program was cannibalized to pay for the math still won't add up.

Let's take a simple example $10,000 a year 300 billion people. That's $3 trillion 3 trillion 3,000,000,000,004 so that's three force of the entire federal budget a number of places have tested the idea much smaller scale but so far, say, none of those tests has been scientifically rigorous enough to determine much of anything which is why a lot of people are now looking at Stockton California rolling up my goal was to leave Stockton and never come back next to Mary here Michael top 26, having gotten the job based in part on his promise to improve the economy. 25% of the population is 30% just one paycheck away. He thought what if he could provide that one extra paycheck payout not generous enough to encourage people to stop working, but big enough to give some financial stability unless I get there when Mercedes-Benz got all year with a private jet travel to meetings to say give everyone an income floor so that habits make the sinister bluff and he partnered with the economic security project organization shared in part by Chris Q, the cofounders of Facebook was written extensively about the basic income idea. Starting this fall's group will underwrite an 18 month experiment in stock. It will give $500 a month to about 100 families and see what they do with Tubbs knows it's not without its risks is no strings attached. You don't know. I have no control over what people will do with the $500 Lisa Castellon has a pretty good idea.

Anyway, put a little bit a really fun I stress you know let us breathe a little bit.

I don't remember the last time I took my kids.

She works for minimum wage Stockton elementary school is both crossing guard and play grandma is not sure shall be one of the ones getting the money but she hopes whoever does take the experiment seriously, don't blow it on something done it yourself at a music to get yourself ahead possibility of the basic income idea still a matter of some pretty basic right to big investment, big unanswered questions, but for people like Mayor top economic challenges that lie ahead. Maybe even think answers to these questions, I will really be able to say that no I tried this in my city and this is what happened but I being an internal optimist and knowing the folds of my city. I'm very confident that a day at the office is anything but just another day at least. It is at the office Tony to Coble Texas to follow so everything here.

Memories of all tables over there was, if you want a glimpse of professional paradise, or at least one vision of it.

Look no further. Then we work our canister for water. I wanted because I haven't had for some time.

I was like wow I love cofounder Adam Newman presides over and Empire free goodies. Yes, including free beer and offices designed to encourage interaction after you, but to be clear most of the people that we works 283 worldwide locations are not Newman's employees, but his customers renting workspace in a booming field known as co-working think about it like you would think You pay a membership, you get to share all the equipments it's really a shared infrastructure for business. Steve King studies co-working and says the industry has grown from as little as many people in 2007. 1.5 million worldwide.

A decade later in a projected 5,000,000 x 20 23 independent workforce continues to grow every year there are more freelancers and I were in the last year and then a growing segment is large enterprises. Large corporations also see the advantage of having flexible works and Newman says many larger companies including some in the Fortune 500 have invited.

We work to redesign their existing office to about two years ago the price. Large corporations larger than thousand three start coming to say hey we want this energy we want this nice-looking space but we don't want just that when the technology we want our players also be this happy. And speaking of happy we were founded in 2010 has become one of the most valuable young companies in America worth an estimated 20 billion a sum that begins to make sense when you hear from members like food safety consulting moral cut number one film, I saw your soulmate on myself on. I'm happy that happens when you're in a community supporting these new communities is the real mission of we work in a growing number of competitors omission that goes way beyond the office, discover the secret of the universe and that if people knew this way more people would do it last year.

Michael Jensen and Brett Harding shirt were bored freelance writers working out of their house in Seattle. That's when they heard about this place. Rome is not bad. They recently co-lived here.

Co-worked in a space on the same property and co-relaxed the rest of the time along with the constantly changing crowd of rumors for a daily fee.

Rome members can work and live in outpost in Miami, London, Tokyo and Bali with eight more properties planned.

All for people looking for a sense of home but not a permanent address to fill in the sense for me. Home is where the blank is working. Of course, for another co-working demographic home is a little more complicated to entrepreneurs.

Sarah Bagley is the mother of three and a member of play work or it – a combination co-working in childcare space outside Washington DC and you go through. We were trying to make do without a space like this when you are not having your brain between my toddler doing and trying to focus on.

Let's think for a few hundred dollars a month. Parents get a desk last up to three hours of childcare, imagining people coming in my Goss is looking for. Founder Nicole – says what she's really building is a movement of what I don't think that having children in professional and mutually part of the cell, allowing parents to find and decide for their own family. Energy and color.

Felix backing we were Adam Newman is also to change the balance of modern life, adding apartments called we live schools called, we grow in the future. Whole cities powered as he puts it by.

We the most precious resource we have is time just being in place and work for the sake of making money and pass on everything else and then go home to live.

Give up half of her life for many every waking hour is partially work which is no longer really work and what and partially play all life coming to now.

The subject is dirty money and we do mean dirty, ripped, torn and damaged but not worthless as a reader braver explains this is the famous task that his heart is. It was grant money story and it started when Mark Bunn of Greensboro, North Carolina into his bedroom one afternoon I just happened to glance down at my bed and I saw a piece about maybe the size of my thumb of a $20 bill and another little piece that's when he decided to call housemate Scott writing key and Mark says to Julie about rent money I left out $400 in increments of 20s and tens. I put two and two together and came up with this when Mark remembered hearing about the US government agency that might come to the rescue you put in the call and the dog ate my money. Actually, a person answered he was like if you feel like you would have the patience and the time to follow your dog around for the next 2 to 3 days. You will find your money. Yes, since the 1860s the US Bureau of engraving and printing has had a program that we place is severely damaged. Money a lot of people sore money and houses. Store in the drywall but an erratic and mice will get into termites or get into it.

Eric Walsh is the assistant manager of the mutilated currency division. We typically process about 20,000 cases a year and doing so were somewhere between 30 to 40,023,000 people sand and damage currency you send out $30-$40 million. Most common are fires water damaged either through floods being very demand you send this package of about 100 that arrive each day will that water had leaked into a money jar married and his deceased parents phone. This is when our worst case 63,012 full-time examiners piece together the bells. Some have been accidentally spreading and Sharon Williams still remembers recovering $1000 for a woman who stored her purse in the oven and and older.

Many packages override with detailed letters. Examiners like the one left to guess how money got destroyed. What happened to that long buried somewhere. Together sometime to help talk to customer like this is my life savings to do and you feel really bad that she can. As for Mark and Scott. They follow test the dog around for a few days in a bag full of, well, let's not go there weeks later I got a check for $400. I think it enhanced my view of government. It actually was something by the people for the people that it actually had a direct effect on my daily life, did you learn a lesson from the six are clearly learned a lesson to the before there were podcasts there was television. Remember, see what's new under the sun every Sunday morning. Who better to share some pillow talk with the pillow tycoon Martha Tyson or does the honors looks like you're not sleeping well. Mike Lindell spends 1,000,000 1/2 dollars a week on commercials to make sure that you know about his personal guarantee that my pillow will be the most comfortable pillow you so more than one an incredible success. You start fishing considering the story actually had a dream which I believe is right from God about my pillow and I dreamt the logo for sexually made my pillow. The dream came true. This back in 2004, Mike Lindau, a man with lifelong sleeping issues had to invent the pillow with his dreams and talk about all year. I kept trying different things. My youngest son cherub different songs.

There you reek a moment when the combined difference highest phone chunks. All three sizes are in every pillow locked together and you have the most amazing adjustable pillow in history. At first Lindell sewed the pillows himself. The big box stores had no interest. We were right over here back in December 2004, so he set up a table in his neighborhood mall like a lemonade stand only sold all only about 80 pillows over how long a period. About a month. Sales picked up, but Mike Lindell had a problem. A big one was a cocaine addict friends since the night mid 1980s, and that switch to crack cocaine in the early 2000. What kind of dollar a week have it.

Did you have anywhere from $500,000. We probably don't down to nothing living day by day and we're losing her house. My wife of 20 years.

She left this picture was taken the night his crack dealers.

Yes he is.

Dealers staged an intervention in the spring of 2008. The one guy since Mike's been up for 14 days. He said were shut me off. You're not getting anything the following year he quit cold. Change a channel because the next half hour schema change your life changed his life. That infomercial launched October 7, 2011 at 3 AM in the morning.

Not that time I had about 5 to 10 employees and 40 days later I have 500. He has around 60. Most of them working outside, as they say in infomercials. Lindau says at any one time 20 to 30% my pillows and fully second chances more like him.

Former among them Chelsea friendship so I was a heroin addict for about eight years out of college here in right away that you're hired places give me a chance.

Background Mike Lindell considers his business is success.

A gift from God, proud that his pillows are made in America when I get behind something I said all is an enthusiastic soup order of Pres. Donald Trump is with the Better Business Bureau, dropped my pillow from an A+ rating to an claiming that a long-running buy one get one offer was really at regular price.

Lindell dismissed the demotion, saying he was targeted because of his political views. They brought the level of my pillow fame up here so they helped me think about politics Mike Lindau is about action. One woman's pet project has turned into a project with legs as a Richards lesson. Lonnie Edwards is an unusual agent with your clients and it's not about which people represent fact, she doesn't represent people that all this is will be is that passing by, Lonnie Edwards owns the dog agency name is a little misleading. She represents all sorts of animal stores of Instagram Lonnie Edwards has gotten Atticus the hedgehog starring roles in Instagram ad campaigns for stained master carpet cleaner and Olympus cameras when each one of the 117,000 people who follow Atticus logon they saw these pictures I and Stephanie Zhang in her hedgehog were in business a lot of benefits of the fact that they can read over the contracts for you and Nicotiana tens of thousands, sometimes hundreds of thousands and sometimes more than a million people follow some of the animals whose pictures are posted on the social network. Popular animal becomes what's called influencer have as much influence as calm and all two monkeys from Miami to Ellicott. He and her boyfriend Matt crown started posting pictures of their monkeys for their friend.

Then the monkeys went viral and exciting laugh, if you will, but sponsors are willing to pay for parents and the eyeballs they attract. Turns out Edwards has the perfect pedigree to figure out how to make good money off of them.

Is this what you envision Harvard Law school and disrespect someone that this business is not just creative. It's lucrative father part and had many a lot of money a few months ago, the Miami monkeys became page spokes primates for two year. It is their first sponsorship could start something Lonnie Edwards had a party recently at her office for some of the more popular this exotic Lonnie Edwards is doing just fine the way law school jealous, laughing with Burbank has been shopping for status symbols to die for you immediately feel like going to a nice neighborhood, you're like, well manicured lawn thousand great waterfall charming is a great word for it makes a real impact on price great investment parent, you is like a lot of real estate brokers in Los Angeles.

Mrs. well over $600,000 there is just one difference though between Chiu and the others. My nickname with my friends in the subterranean condo King Baron Chiu is a cemetery plot broker helping folks buy and sell space in LA's rapidly filling cemetery orders innocence property is smaller, small but not cheap with some family plots being listed at over $1 million with those be the most expensive pieces of real estate in all of California that would say so, wouldn't you mean it's pretty hot and it's real estate. You don't even own. Once you've bought it, it still technically belongs to the cemetery.

However, you do have the right to stay as long as you want the cemeteries on the grave, but you're buying the right for burial. Other than that cemetery real estate works a lot like other real estate's location location location people looking for views people are looking for peaceful sceneries and believe it or not, were so busy in Los Angeles. Some of the busiest cemeteries in the world that traffic and cemetery can determine prices well wait. So in LA the traffic is so bad there traffic jams in the cemetery. Absolutely crazy.

Oh, and one other major factor that drives prices which celebrities are buried in the cemetery.

This is after all Southern California thought that many cemeteries in LA, Baron Chiu says he doesn't use dead celebrities as a selling point he thinks is disrespectful but for fans of those celebrities. LA's cemeteries have always been a big draw world movie buff you like to come and visit Bill Murray start Larry Trujillo makes the trip to LA from Albuquerque each year.

The highlight visiting Marilyn Monroe. We like to clean her gravestone up if it's very fresh flowers of freshwater and John Rocher and Lynn Williams came to Hollywood forever cemetery for Judy Garland. She was in New York at Liza Tucker back but under one condition contributor Bessie as far away from it is possible Garland was known to have carried a torch for Rudy a feeling alas, he did not share just another reason for Rocher to invest in his little slice of eternity. I got my problems. Oh really smart thinking yeah because it ain't she pleased he does not not cheap at all in the cemetery.

You are really close to all the rich and famous and can't do while you're living mother delighted that Baron Chiu showed me one of his properties.

It's for sale for about $160,000. Also in Hollywood forever cemetery can I try this out yet. So from here down here. They say if the shoe fits. I gotta say it's very relaxing and taken coming soon mode obituaries a podcast on matters of death and life from Mo Rocca. Salma Hayek was nominated for an Oscar for her performance as the artist free to call in the movie Frida back in 2002.

These days is when he noticed for her roles on behalf of charity as John Blackstone tells us we Los Angeles unison United Nations children's fund honored soma higher with the Danny Kaye humanitarian award takes so many be be changes its recognition for all that she has done for more than a decade on behalf of women and children around the world is hard to decide who should get money execs should be spent.

Best is the best question is fine.

Help the most. How can you help the best little cool to be the most effective.

As you become an activist-based earnings question. All things, why don't you she helped raise more than $700,000 for relief efforts after the earthquake in Mexico last September in 2015 she visited Syrian refugees in Lebanon and in 2008. Here she is in Sierra Leone where it Was a leading cause of death among mothers and babies during the trip, 15-year-old mother approached her with a hungry baby just days old have nothing was something I was left my time for the first time that I was weaned from breast-feeding. I was a lot of people that were upset but there were many as well who said God said you may have saved the life Salma Hayek was born in Mexico in 1966. Her father of Lebanese descent was an oil company executive mother, Mexican and Spanish was an opera singer at the age of five.

Soma would sit in front of the pink window in her home. Sometimes I would just look out this window come up with stories and come up with scenarios of what my wife and myself my own place.

When I would play with my imagination when winded acting enter your entry among acting enter my mind and that I was embarrassed to say I went but she says she somehow found the courage after appearing in popular Mexican soap operas, novellas, she came to Los Angeles at the age of 24 and studied acting but after being a big star at home she got work only as an extra. There was not a chance to succeed. Especially because I was Mexican. Since this percipient people would laugh at me time. You have to understand the nixies that they was one but in more than 50 movies. She became one of those actresses says they say the camera loves: stop the train system but no, it may be that her portrayal of the Mexican painter Frida Kahlo created the most attention.

She produced the movie and also earned an Academy award nomination as best actress. This something inside just to session since you went to work for eight years.

Yes, get off the ground. She made headlines in December with a New York Times op-ed piece about the price she paid to work on Frida with producer Harvey Weinstein which she wrote involve many inappropriate sexual demands charges Weinstein has denied. But that essay helps to propel a movement most excited by formal is that when the world so all these women that I still be civil because it's Hollywood commented that essay is not okay. We take the following times to say the stops now I think it's a beautiful time for man because it gives opportunity to redefine who they want to be without their fear that Cheryl so that I shall be like hey I get to be the best national full.

I think I can be. But I do think that women will start to feel a bit safer in all walks of life. Certainly safer. You think in 2009. She married François Henri Pineau, the French billionaire whose company carrying such luxury brands as Gucci and Stella McCartney and today Salma Hayek Peano is busier than ever the production company event Tanner Rosa name for that Rose window. She sat in front of as a child is developing for new movies and five new TV shows I like to wake up every day I work when I think I would die if I didn't have that in my life.

It's one of life's eternal questions can money buy happiness. Susan Spencer went looking for answers in 2000, fresh out of college Christian in a hose and took a juicy job as an investment banker getting paid big box you're making six figures of 21 years old. You have a car service at your disposal are flying all over the world think he was happy I was miserable. I remember having the thought, all I'm doing is trying to make money for my clients my bosses and myself and I said don't know if I could do this anymore.

He stuck it out for five wretched years then decided to check it and applied for a different job, a very different job while I was actively employed as an investment. I submitted an application of the Valspar department and a few months later got it. You went way out of the Lamb. 13 years later, Capt. lives modestly in a two-bedroom rental making well let's just say a lot less than the seven-figure salary he would have been making you left money on the table but my quality of life with through the roof doing what I do you feel proud of him for having made this decision are happier, are also healthier Amherst College psychology professor Catherine Sanderson was Christians undergraduate advisor. She says his decision was especially tough in our moneygrubbing culture and all way. I just had a little bit more. I get a little bit more, then I will reach the top ultimate question can money buy happiness. Sanderson's emphatic answer is no bikini contentment she says is not how much you are how you feel about earning it when you talk to people who love their jobs overwhelmingly what they say is not. I love my paycheck. I find John meaningful is something she's trying to teach her own college age son. I remember being at a brunch with some of his friends parents and I that I think my financial would make a wonderful high school teacher and another parent at the table said he could do so much better because of course he had one recently made more money. Research shows that once you are above the poverty line, making more money won't necessarily bring more joy, especially if you spend it on more stuff. The reason is what psychologists call the head Dominic treadmill like hamsters running after new stuff satisfied with this stuff just got there's a cartoon that I show when I get to talk with them. I should about more crap I know why my thinking. I think it's for granted. I wish I had a nicer car, so spending money on stuff won't make you happy. Should you spend it.

Even spending as little as $40 to buyers on that of a negative experience, like cooking or cleaning can have significant benefits for people's happiness. Harvard business school professor Ashley Willens and her colleagues out cash to two groups of people telling one to go bind themselves something and the other to pay someone to do a hated chore, like the laundry yes it was happier. Participants who bought themselves time recording, more joy and less negative emotions so money. In fact, can buy happiness. If you spend it in the right way.

Yes that's right just don't tell that to Christian Hinojosa is money, buy happiness. I don't believe that this on, Roosevelt.

We hope you enjoyed this special edition of Sunday morning and join Jane Pauley here again next Sunday morning.

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