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May 15, 2017

05/15/2017: Why pay a ransom in bitcoin?

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Here's the thing about WannaCry, the ransomware attack much of the planet was dealing with today: it's been remarkably unprofitable for the perpetrators. Hackers asked for as much as $300 worth of bitcoin per infected user, and they've only netted about $55,000 for their efforts. Why use bitcoin as ransom payments? We'll talk about it. Then: 2017 is gonna be written about in the history books for a whole lotta reasons, one of which might be as a tipping point in the global economy. Following China's big infrastructure summit we'll sort through the state of negotiations around the world. Plus: why it's a good time to be a restaurant worker in Nashville. 

Segments From this episode

In Nashville, it’s a good time to be a restaurant employee

May 15, 2017
Restaurant owners in Nashville have a lot of competition these days, and that's good news for workers.
Lulu, a new fast-casual eatery, is among the 100-plus restaurants and bars that are expected to open in Nashville this year. 
Emily Siner / WPLN

The history of the Las Vegas Strip is the history of how we vacation

May 15, 2017
The evolution of the Strip's architecture reflects how U.S. leisure trends have changed in the last several decades.
Neon signs advertising casinos and clubs on Fremont Street in Las Vegas, Nevada.
Hulton Archive/Getty Images

Didn't pick up your rental car? No problem.

May 15, 2017
Why is it that rental car companies don't penalize customers for flaking at the last minute?
“Some rental car companies have been afraid to charge for no-shows with the fear that their competitors won’t and it would be used as a marketing campaign against them,” said John Healy, who follows the car rental industry for Northcoast Research.
Chris Hondros/Getty Images

China pushes for free trade leadership as U.S. retreats

May 15, 2017
Chinese President Xi JinPing is calling for wider participation in his country’s massive “One Belt, One Road” infrastructure project. Xi hosted a summit in Beijing over the weekend to tout the benefits of the plan, which will expand trade links between China, Asia, Africa and Europe. Meanwhile, the Trump Administration is pushing ahead with its “America […]

Why a little cut in oil supply can have a big impact on price

May 15, 2017
Saudi Arabia and Russia announced plans to cut their amounts of oil going onto the market. That has suppressed oil prices. The two countries make up a significant part of the oil market, but not that much. So why can a minor cut in supply affect the price worldwide? Because the oil market has something […]

My Economy: Making close to six figures as an intern

May 15, 2017
As a PhD student, David Kuhns found an "internship" that matched his skills.
DANIEL LEAL-OLIVAS/AFP/Getty Images

Hackers may 'WannaCry' when trying to cash in on the worldwide cyberattack

May 15, 2017
The global cyberattack known as WannaCry continued to spread today, with 300,000 computers infected in 150 countries. The attack involves so-called ransomware, which basically holds the important files of victims hostage and then demands payment to unlock them. In this case, payment is the virtual currency bitcoin. Given to the scale of the attack, it […]

Here’s the thing about WannaCry, the ransomware attack much of the planet was dealing with today: it’s been remarkably unprofitable for the perpetrators. Hackers asked for as much as $300 worth of bitcoin per infected user, and they’ve only netted about $55,000 for their efforts. Why use bitcoin as ransom payments? We’ll talk about it. Then: 2017 is gonna be written about in the history books for a whole lotta reasons, one of which might be as a tipping point in the global economy. Following China’s big infrastructure summit we’ll sort through the state of negotiations around the world. Plus: why it’s a good time to be a restaurant worker in Nashville. 

Music from the episode

Outro Vulfpeck
Stay Tuned Wuh Oh
Cissy Strut The Meters

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