In this session of Planet Money Summer School, we are getting the word out about your brand. How do you convince consumers to buy your product, even if they are only just hearing about it? It's time for sales and marketing!If you've watched a show like Mad Men or The Office, you know the importance of a strong pitch. It's precision-crafted to show how what you're selling can solve a problem your customer needs solved. Sometimes it even creates the need. Once you've got your sales pitch, it's time to get the word out: marketing. Where to spread that message? How to make it unforgettable? Instantly recognizable? What is going to be your Just do it? Your Think different? Your Where's the beef?In our case studies today, we look at a product so cleverly marketed, the company doesn't need to market it at all anymore and customers wait years to get it: the Birkin bag. And we hear lessons from some of the world's most time tested salespeople who can and do sell anything, literally. It's all about the four P's: Product, place, promotion and price. Also, a few other tricks we test out. Find all episodes of Planet Money Summer School here.This series is hosted by Robert Smith, and produced by Max Freedman. Our project manager is Julia Carney. This episode was edited by Sally Helm and engineered by Josephine Nyounai. The show is fact-checked by Sierra Juarez. Planet Money's executive producer is Alex Goldmark.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy

There's an estimated $195 billion of medical debt in America. But just because a medical bill comes in the mail doesn't mean you have to pay that exact price. In this special episode from our friends at Life Kit, you'll learn how to eliminate, reduce or negotiate a medical bill.If you liked this episode, you can check out more Life Kit here. They have episodes on how to choose a bank, and how to save money at the grocery store.This episode of Life Kit was produced by Sylvie Douglis. Their visuals editor is Beck Harlan, and their digital editor is Danielle Nett. Meghan Keane is their supervising editor, and Beth Donovan is their executive producer.Help support Planet Money and get bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy

Dan Ariely and Francesca Gino are two of the biggest stars in behavioral science. Both have conducted blockbuster research into how to make people more honest, research we've highlighted on Planet Money. The two worked together on a paper about how to "nudge" people to be more honest on things like forms or tax returns. Their trick: move the location where people attest that they have filled in a form honestly from the bottom of the form to the top.But recently, questions have arisen about whether the data Ariely and Gino relied on in their famous paper about honesty were fabricated — whether their research into honesty was itself built on lies. The blog Data Colada went looking for clues in the cells of the studies' Excel spreadsheets, the shapes of their data distributions, and even the fonts that were used.The Hartford, an insurance company that collaborated with Ariely on one implicated study, told NPR this week in a statement that it could confirm that the data it had provided for that study had been altered had been altered after they gave it to Ariely, but prior to the research's publication: "It is clear the data was manipulated inappropriately and supplemented by synthesized or fabricated data." Ariely denies that he was responsible for the falsified data. "Getting the data file was the extent of my involvement with the data," he told NPR.Help support Planet Money and get bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy

Usually, the first class that an MBA student takes is accounting. That involves, yes, equations and counting widgets...but it's more than that. Inside the simple act of accounting is a revolutionary way of thinking not just about a business, but about the world. A universe where all the forces are in balance. Accounting gives you a sixth sense–one that can help you determine whether your business will survive or fail.In this class, you'll learn the basics of accounting, and uncover its origins. We'll introduce you to the man who helped it spread around the world. He was a monk, a magician, and possibly the boyfriend of Leonardo da Vinci.Is accounting... sexy?Yes. Yes it is.Find all episodes of Planet Money Summer School here.This series is hosted by Robert Smith, and produced by Max Freedman. Our project manager is Julia Carney. This episode was edited by Sally Helm and engineered by Robert Rodriguez. The show is fact-checked by Sierra Juarez. Planet Money's executive producer is Alex Goldmark.Help support Planet Money and get bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy

We here at Planet Money love economics papers. And that is also the case for so many of the economists we speak with. For them, new research can explain something they have always wondered about, or make them see something they have never noticed before. And it inspires their own work. So, to bring that same sense of discovery to you, the listener, today we are dedicating our show to a special experiment. A new way to share some of the most fascinating, clever and surprising economics papers in a segment we're calling: The Econ Paper Club.On today's show, we read the econ papers so you don't have to. We take a joyous romp through some of the most fascinating ideas floating around economics right now. And we find that some of those fascinating ideas are about some of the biggest things in life: the careers we choose, the expectations that come with parenting and what one eminent economist calls 'greedy jobs.' This episode was hosted by Erika Beras and Kenny Malone. It was produced by Sam Yellowhorse Kesler and James Sneed. It was edited by Molly Messick. It was fact-checked by Sierra Juarez, and engineered by Robert Rodriguez. Alex Goldmark is our executive producer.Help support Planet Money and get bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Always free at these links: Apple Podcasts, Spotify, Google Podcasts, NPR One or anywhere you get podcasts.Find more Planet Money: Facebook / Instagram / TikTok / Our weekly Newsletter.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy

For episode 2 of Planet Money Summer School, we are talking strategy. You have your million dollar business idea, and maybe some money in your pocket to get it up and running. But now you enter into a crowded market. You have to deal with competition. So, what can you do to make sure your product is a success? That was the conundrum facing the Starbury. It was a basketball shoe with a celebrity endorsement, that had to go up against THE basketball shoe with THE celebrity endorsement: the Air Jordan. Our first story is about the ways in which the Starbury succeeded and failed in taking on a juggernaut.Then, we will hear a story about trying to avoid the dangers of "perfect" competition. Two companies making almost identical handbells learn that the key to their success lies in convincing customers how different they really are.Find all episodes of Planet Money Summer School here.The series is hosted by Robert Smith and produced by Max Freedman. Our project manager is Julia Carney. This episode was edited by Keith Romer and engineered by Robert Rodriguez. The show is fact-checked by Sierra Juarez. Planet Money's executive producer is Alex Goldmark.Help support Planet Money and get bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy

When you make an account online or install an app, you are probably entering into a legally enforceable contract. Even if you never signed anything. These days, we enter into these contracts so often, it can feel like no big deal.But then there are the horror stories like Greg Selden's. He tried to sue AirBnB for racial discrimination while using their site. But he had basically signed away his ability to sue AirBnB when he made an account. That agreement was tucked away in a little red link, something most people might not even bother to click through. But, it wasn't always like this. On today's show, we go back in time to understand how the law of contracts got rewritten. And why today, you can accept a contract without even noticing it. This episode was hosted by Emma Peaslee and Jeff Guo, and was produced by James Sneed. It was edited by Jess Jiang and fact-checked by Sierra Juarez. It was engineered by James Willetts. Alex Goldmark is our Executive Producer. Help support Planet Money and get bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney. Always free at these links: Apple Podcasts, Spotify, Google Podcasts, NPR One or anywhere you get podcasts.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy

Find all episodes of Planet Money Summer School here.Planet Money Summer School is back! It's the free economics class you can take from anywhere... for everyone! For Season 4 of Summer School, we are taking you to business school. It's time to get your MBA, the easy way!In this first class: Everyone has a million dollar business idea (e.g., "Shazam but for movies"), but not everyone has what it takes to be an entrepreneur. We have two stories about founders who learned the hard way what goes into starting a small business, and getting it up and running.First, a story about Frederick Hutson, who learned about pain points and unique value propositions when he founded a company to help inmates and their families share photos. Then, we take a trip to Columbia, Maryland with chefs RaeShawn and LaShone Middleton. Their steamed crab delivery service taught them the challenges of "bootstrapping" to grow their business. And throughout the episode, Columbia Business School professor Angela Lee explains why entrepreneurship can be really difficult, but also incredibly rewarding, if you have the stomach for it.(And, we should say, we are open to investors for "Shazam but for movies." Just sayin'.)Help support Planet Money and get bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy

When it comes to big questions about the economy, we're still kind of in the dark ages. Why do some economies grow so much faster than others? How long is the next recession going to last? How do we stop inflation without wrecking the rest of the economy? These questions are the domain of macroeconomics. But even some macroeconomists themselves admit: While we have many theories about how the economy works, we have very few satisfying answers.Emi Nakamura wants to change all that. She's a superstar economist who is a pioneer in the field of "empirical macroeconomics." She finds clever ways of using data to untangle some of the oldest mysteries in macroeconomics, about the invisible hand, the consequences of government spending, and the inner workings of inflation.Recently we called her up to ask her why the economy is so difficult to understand in first place, and how she's trying to find answers anyway. She gets into all of that, and how Jeff Goldblum shaped her career as an economist, in this episode. This show was hosted by Jeff Guo and Nick Fountain. It was produced by Dave Blanchard with help from Sam Yellowhorse Kesler. It was engineered by Josephine Nyounai and fact checked by Sierra Juarez. Keith Romer edited the show. Alex Goldmark is our executive producer.Help support Planet Money and get bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy

Two stories today.First, as we start to understand post-affirmative action America, we look to a natural experiment 25 years ago, when California ended the practice in public universities. It reshaped the makeup of the universities almost instantly. We find out what happened in the decades that followed.Then, we ask, why does it cost so much for America to build big things, like subways. Compared to other wealthy nations, the costs of infrastructure projects in the U.S. are astronomical. We take a trip to one of the most expensive subway stations in the world to get to the bottom of why American transit is so expensive to build.This episode was hosted by Adrian Ma and Darian Woods. It was produced by Corey Bridges, and engineered by Robert Rodriguez and Katherine Silva. It was fact-checked by Sierra Juarez. Viet Le is the Indicator's senior producer. And Kate Concannon edits the show. Alex Goldmark is our executive producer.Help support Planet Money and get bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy

Back in the 90s, Ivan Lozano Ortega was in charge of Bogota's wildlife rescue center. And he kept getting calls from the airport to come deal with... frogs. Hundreds of brightly colored, poisonous frogs.Ivan had stumbled upon the poisonous frog black market. Tens of thousands of frogs were being poached out of the Colombian rainforest and sold to collectors all around the world by smugglers. And it put these endangered frogs at risk of going extinct.Today on the show, how Ivan tried to put an end to the poison frog black market, by breeding and selling frogs legally. And he learns that it's not so easy to get a frog out of hot water.This episode was hosted by Stan Alcorn and Sarah Gonzalez, and co-reported and written with Charlotte de Beauvoir. It was produced by Willa Rubin with help from Emma Peaslee. It was edited by Jess Jiang. It was fact-checked by Sierra Juarez. It was engineered by Josh Newell. Alex Goldmark is our executive producer.Help support Planet Money and get bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy

The shocks of the pandemic economy gave us a bunch of enormous natural experiments, which helped to prove or disprove conventional economic thinking.Take, for example, the bullwhip effect, the idea that the further away from the customer you are in the supply chain, the more volatile your orders are likely to be. This theory played out at an enormous scale, in the pandemic. Consumers and companies overreacted to the risk of shortages by ordering more products and hoarding them, causing massive shifts in the supply chain – just like the theory says.And the pandemic gave us a lot of natural experiments like this. So, on this special live edition of Planet Money, we looked for other big economic lessons from the past three years, and we took this information and turned it into... a gameshow! It's Two Truths and a Lie: Econ Edition. We get into questions about the workforce and labor market during the pandemic, and how it affected how economists view the world.This episode was hosted by Mary Childs. It was produced by Dave Blanchard, and edited by Jess Jiang. It was engineered by Josh Newell with help from Robert Rodriguez. Original music by Jesse Perlstein.Help support Planet Money and get bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy

In 1978, a young man named Mike Shanks started a moving business in the north end of Seattle. It was just him and a truck — a pretty small operation. Things were going great. Then one afternoon, he was pulled over and cited for moving without a permit.The investigators who cited him were part of a special unit tasked with enforcing utilities and transportation regulations. Mike calls them the furniture police. To legally be a mover, Mike needed a license. Otherwise, he'd face fines — and even potentially jail time. But soon he'd learn that getting that license was nearly impossible.Mike is the kind of guy who just can't back down from a fight. This run-in with the law would set him on a decade-long crusade against Washington's furniture moving industry, the furniture police, and the regulations themselves. It would turn him into a notorious semi-celebrity, bring him to courtrooms across the state, lead him to change his legal name to 'Mike The Mover,' and send him into the furthest depths of Washington's industrial regulations.The fight was personal. But it drew Mike into a much larger battle, too: An economic battle about regulation, and who it's supposed to protect. Help support Planet Money and get bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy

Twins are used to fielding all sorts of questions, like "Can you read each other's minds?" or "Can you feel each other's pain?" Two of our Planet Money reporters are twins, and they have heard them all.But it's not just strangers on the street who are fascinated by twins. Scientists have been studying twins since the 1800s, trying to get at one of humanity's biggest questions: How much of what we do and how we are is encoded in our genes? The answer to this has all kinds of implications, for everything from healthcare to education, criminal justice and government spending.Today on the show, we look at the history of twin studies. We ask what decades of studying twins has taught us. We look back at a twin study that asked whether genes influence antisocial behavior and rule-breaking. One of our reporters was a subject in it. And we find out: are twin studies still important for science?(Note: This episode originally ran in 2019.)Our show today was hosted by Sally Helm and Karen Duffin. It was produced by Darian Woods and Nick Fountain. It was edited by Bryant Urstadt. Help support Planet Money and get bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy

People come from all over the world to work in U.S. tech. And during the tech boom years, the industry relied heavily on foreign workers. This is how we built Silicon Valley – with great minds coming from everywhere to work in the U.S.But when the industry started to shrink, all of these people who moved here for work are finding that linking their jobs to their residency is really complicated. That was the case for Aashka and Nilanjan. Aashka was a product engineer at Amazon, and Nilanjan worked in digital advertising for Google. They both lost their jobs in the layoffs each company announced earlier this year.When Aashka and Nilanjan got the news, a clock started ticking. Because they are both H-1B recipients, they only have 60 days to find new jobs before they risk being sent home. And they can't get just any job – they need new employers in their field willing to sponsor their visa.On today's show, we followed two tech workers as they tried to find jobs before their visas expired, and what they went through as H-1B recipients trying to stay in the country.This episode was hosted by Alyssa Jeong Perry and Amanda Aronczyk, produced by Sam Yellowhorse Kesler, engineered by James Willetts, fact-checked by Sierra Juarez, and edited by Molly Messick and Jess Jiang.Help support Planet Money and get bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy

Innovation is crucial for game-changing advancements in society, whether it's treatments for serious diseases, developments in AI technology, or rocket science.Today on the show, we're airing two episodes from our daily economics show The Indicator. First, a new paper suggests that breakthrough innovations are more likely at smaller, younger companies. We talk to an inventor who left a big pharmaceutical company to start afresh, leading to some incredible treatments for serious diseases.Then, it's off to Mars — or at least, on the way. Elon Musk's company SpaceX did a first test launch of a rocket meant to go all the way to the red planet. The rocket made it up off of the launch pad and lumbered briefly through the sky before self-destructing over the Gulf of Mexico. Suffice it to say, it's not quite ready. NPR science correspondent Geoff Brumfiel walks us through SpaceX's business plan as we try to figure out if this company has the funding and business acumen to reach its moonshot goal.These two Indicator episodes were originally produced by Corey Bridges & Brittany Cronin, engineered by Katherine Silva & James Willets, and fact-checked by Dylan Sloan & Sierra Juarez. Kate Concannon edits the show.The Planet Money version of this episode was produced by Willa Rubin, engineered by Robert Rodriguez, and edited by Keith Romer.Help support Planet Money and get bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy

In the early 90s, when a young economist named Michael Kremer finished his PhD, there had been a few economic studies based on randomized trials. But they were rare. In part because randomized trials – in which you recruit two statistically identical groups, choose one of them to get a treatment, and then compare what happens to each group – are expensive, and they take a lot of time.But then, by chance, Michael had the opportunity to run a randomized trial in Busia, Kenya. He helped a nonprofit test whether the aid they were giving to local schools helped the students. That study paved the way for more randomized trials, and for other economists to use the method. On today's show, how Busia, Kenya, became the place where economists pioneered a more scientific way to study huge problems, from contaminated water to low graduation rates, to HIV transmission. And how that research changed government programs and aid efforts around the world. This episode was produced by James Sneed with help from Willa Rubin. It was engineered by James Willetts. It was fact-checked by Sierra Juarez and Emma Peaslee. It was edited by Molly Messick. Jess Jiang is our acting executive producer.Help support Planet Money and get bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy

(Note: This episode originally ran back in 2022.)This past weekend, Spider-Man: Across the Spider-Verse had the second largest domestic opening of 2023, netting (or should we say webbing?) over $120 million in its opening weekend in the U.S. and Canada. But the story leading up to this latest Spider-Man movie has been its own epic saga.When Marvel licensed the Spider-Man film rights to Sony Pictures in the 1990s, the deal made sense — Marvel didn't make movies yet, and their business was mainly about making comic books and toys. Years later, though, the deal would come back to haunt Marvel, and it would start a long tug of war between Sony and Marvel over who should have creative cinematic control of Marvel's most popular superhero. Today, we break down all of the off-screen drama that has become just as entertaining as the movies themselves.This episode was originally produced by Nick Fountain with help from Taylor Washington and Dave Blanchard. It was engineered by Isaac Rodrigues. It was edited by Jess Jiang. The update was produced by Emma Peaslee, with engineering by Maggie Luthar. It was edited by Keith Romer. Help support Planet Money and get bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy

It's the thrilling conclusion to our three-part series on AI — the world premiere of the first episode of Planet Money written by AI. In Part 1 of this series, we taught AI how to write an original Planet Money script by feeding it real research and interviews. In Part 2, we used AI to clone the voice of our former colleague Robert Smith.Now, we've put everything together into a 15-minute Planet Money episode. And we've gathered some of our co-hosts to listen along.So, how did the AI do? You'll have to listen to learn what went surprisingly well, where it fell short, and hear reactions from the real-life hosts whose jobs could be at risk of being replaced by the machines. This episode was produced by Emma Peaslee and Willa Rubin. It was engineered by James Willetts and fact-checked by Sierra Juarez. Keith Romer edited this series and Jess Jiang is our acting executive producer. In the radio play, Mary Childs voiced Ethel Kinney; Willa Rubin voiced Alice; and Kenny Malone voiced Dr. Jones and Dial Doom 5000.Help support Planet Money and get bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy

In Part 1 of this series, AI proved that it could use real research and real interviews to write an original script for an episode of Planet Money. Our next task was to teach the computer how to sound like us. How to read that script aloud like a Planet Money host.On today's show, we explore the world of AI-generated voices, which have become so lifelike in recent years that they can credibly imitate specific people. To test the limits of the technology, we attempt to create our own synthetic voice by training a computer on recordings of former Planet Money host Robert Smith. Then we introduce synthetic Robert to his very human namesake.There are a lot of ethical, and economic, questions raised by a technology that can duplicate anyone's voice. To help us make sense of it all, we seek the advice of an artist who has embraced AI voice clones: the musician Grimes.This episode was produced by Emma Peaslee and Willa Rubin, with help from Sam Yellowhorse Kesler. It was edited by Keith Romer and fact-checked by Sierra Juarez. Engineering by James Willetts. Jess Jiang is our acting executive producer. We built a Planet Money AI chat bot. Help us test it out: Planetmoneybot.com.Help support Planet Money and get bonus episodes by subscribing to Planet Money+ in Apple Podcasts or at plus.npr.org/planetmoney.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy