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Meet the Vigilante Taking Down the UK's Work Visa Scammers
Bloomberg Originals· 2025-07-23 13:00
I want to do working for my kids, giving them a better life. It's a scam that's targeting some of the world's most vulnerable people. Everything was based on on lies who are trying to come to work in the UK care sector, looking after our sick and our elderly. I was ready to go there and work hard. Imagine losing 15,000 in Africa. People had to sell their houses. This young man, his future has been tattered. Scammers are exploiting a flawed immigration system and the victims have been abandoned by the author ...
Could the US Be Headed for a Bad Credit Cycle?
Bloomberg Originals· 2025-07-22 16:52
Could the US be headed for a bad credit cycle? Carlyle Group CEO Harvey Schwartz gives Sonali Basak his take. Watch the full episode of Bullish on the Bloomberg app https://bloom.bg/4n4Ih9l -------- Like this video? Subscribe: http://www.youtube.com/Bloomberg?sub_confirmation=1 Get unlimited access to Bloomberg.com for $1.99/month for the first 3 months: https://www.bloomberg.com/subscriptions?in_source=YoutubeOriginals Bloomberg Originals offers bold takes for curious minds on today’s biggest topics. Hoste ...
The Hidden Middlemen Gaming the US Work Visa Lottery
Bloomberg Originals· 2025-07-21 08:00
H1B Visa Program Overview - H1B visa is a path for foreign workers to work in the United States [1] - The H1B program was designed to attract skilled workers to fill high-skill jobs in the US where domestic talent is lacking [6] - The program is in dire need of reform [26] Challenges and Criticisms - The system is rife with opportunities for fraud and exploitation [4] - The lottery system does not make sense [4] - Some companies use the program as a massive labor arbitrage scheme to increase profits [5] - Staffing companies game the system by submitting the same person's name multiple times in the lottery [11][12] - Outsourcing companies bring in lower-salary workers, potentially undercutting American labor [13] - L1 visas are sometimes used inappropriately for non-managerial roles [19] Impact and Perspectives - Skilled immigrant workers bring money to the US government [3] - Immigrants make up a large portion of Silicon Valley's workforce [27] - Some economists estimate that millions more engineers and developers will be needed in the US [28] - The H1B visa is owned by the employer, giving them significant control over the employee [9][10] - Approximately 80% of H1B petitions are held by Indian workers [7] - In 2023, over 450,000 people registered for the lottery for only 85,000 slots [9]
The Curse of Rainbow Mountain for One Indigenous Community
Bloomberg Originals· 2025-07-18 16:00
Turismo llega alegre, vive una experiencia, se va al extranjero, cuenta increíble montada en siete colores, pero no sabe de que los comuneros el interno está en graves problemas y está triste. Hay muertes, hay este violencia y eso es una maldición para mí en la montaña de siete colores. Mi padre Flavio Ilinco Yupainki.Mi padre era una persona muy visionario y ambicioso. Era una persona de que no no no tenemos que buscar la manera. Ahita muchos maravillasos la runas colores, tenemos paisajes, tenemos másadas ...
How China's Factories Are Being Rocked by Trump
Bloomberg Originals· 2025-07-18 08:00
Navigating high-risk environments when you can’t see what’s ahead is no mean feat. But it’s the kind of uncertainty Donald Trump’s trade actions have forced on China’s factory workers. President Trump ramping up trade tensions again.The word “tariff” — music to my ears. So we’re in the realm of just endless tit-for-tat. This just kind of indicates how much of a moving target this has really become.At stake is hundreds of billions of dollars in bilateral trade and access to the world’s single-largest consume ...
Rainbow Mountain: Death in Peru’s TikTok Hotspot
Bloomberg Originals· 2025-07-17 16:01
Have you ever heard of the Rainbow Mountain of Peru. Chances are you've seen beautiful photos like this, like this, or like this on social media. We did see it.The Rainbow Mountain has become one of the world's top tourism destinations, becoming a viral sensation only in the past decade. At a time when Instagram filled a craze for picture perfect sites, almost overnight, millions of dollars poured into a poor corner of Peru, where the local indigenous community reinvented themselves as the administrators of ...
Why Investors See Renting as Creating Opportunity
Bloomberg Originals· 2025-07-17 14:00
People often focus just singularly on an individual family who wants to buy a house and we have the greatest respect for that. What I feel upset by is the way we treat the renter. We're having the opportunity for people to rent houses and aspirational communities.This is one of the greatest tools for people who more often than not, if you look at all the residents in our 90,000 houses, most will never own a house in their life. The combination of their FICO scores, the combination of their student loan debt ...
The Killing That Tore Peru's Viral Hotspot Apart
Bloomberg Originals· 2025-07-17 13:00
Industry Context & Conflict Drivers - The Rainbow Mountain in Peru, initially a tourism blessing, became a source of conflict due to lack of state administration and transparency in revenue distribution [6][9] - Mining companies' interest in the mineral-rich Andes region, including areas under the Rainbow Mountain, exacerbated tensions with indigenous communities [3][4] - Indigenous communities often struggle with mining companies, facing violence during protests, highlighting the state's pro-extraction stance [4] - The revocation of mining rights for Rainbow Mountain led to the expectation that tourism revenue would benefit the local community, but disputes over control of ticket revenues arose [5][6] Community Dynamics & Governance - Power struggles between communities (Chillihuani and Llacto) over ticket revenue control intensified after the initial revenue split deal [7][8] - Cecilio, as president of Chillihuani, controlled ticket revenue and neglected the Llacto sector, breeding resentment [8] - The absence of state oversight and regulation of Rainbow Mountain contributed to escalating tensions [9] - Cecilio's stance against state regulation and taxation of the indigenous community further fueled the conflict [10] Tragedy & Aftermath - Tensions culminated in a fatal confrontation, resulting in the death of Flavio, a community leader, highlighting the potential for violence [11][12] - Flavio's death was allegedly caused by a mob of approximately 80 people from the Chillihuani community [12] - The Llacto community honored Flavio with a dance reinterpreting his death, revealing the community's pain and inability to openly discuss the events [13] - Approximately 20 members of the Chillihuani community were placed in pre-trial detention following Flavio's killing, with the possibility that the truth may never be fully known [14]
The Killing That Tore Peru's Viral Hotspot Apart
Bloomberg Originals· 2025-07-16 18:21
The Rainbow Mountain is one of Peru's most iconic tourism sites. Rainbow Mountain all to yourself. It is made for going viral.It's beautiful though. We did see it suddenly because of global tourism. It became a symbol of violence.Now somebody has been killed. for audio. Happy hour.Money can do a lot of good. It can really transform people's lives, but it can also hurt them. ...
Why Investing in Affordable Housing Poses 'Lower Risk'
Bloomberg Originals· 2025-07-16 15:11
Affordable housing is is is just like market rate housing. You have you have revenues and you have expenses. And to make the housing affordable for families, you either need an intervention on the revenue side in terms of what the actual families can pay.On the expense side, you have state and local governments. They'll say, "You know what? If you meet the policy objective of creating, preserving, improving affordable housing, we're going to give you a break on the property taxes." So, what does this mean f ...