As the coronavirus pandemic exposes educational inequality throughout the United States, LEGO is looking to revamp the way digitally disadvantaged elementary and middle school students learn via a new 'purposeful play' program funded by leaders in tech and education.
Esben Staerk, LEGO Education president, explained that the toy company division has joined the 'Creating Learning Connections' initiative meant to ensure every student has "access to quality devices and quality internet connection."
In partnership with CDW-G, GE, Intel, and First Book, the initiative poured $7 million into the fund to develop tools and products that guide teachers and entice students to engage with their learning materials.
"The pandemic has exacerbated the divide. A recent study by First Book actually indicates that around 40 percent of students lack access to quality devices and almost 40 percent lack access to quality internet connections," Staerk said.
The physical aspect of LEGO Education's learning tools, according to Staerk, makes learning fun and is a better source for information retention.
"All the LEGO Education solutions are based around hands-on learning, and they're based around a playful learning or learning to play approach," he explained.
As parents and teachers express having difficulties with children learning from home, Staerk said the purposeful play program isn't just meant to level the educational playing field but also to "make sure that these communities and these students are engaged in their learning."
For Staerk, the choice to join an equal education initiative was easy since the importance of access to quality education is essential for the ability to be "life-long learners," he noted.
"It's important that we spark student creativity, their problem solving, their critical thinking, but not least, also build their confidence in learning and their resilience," Staerk added.
A Senate bill unveiled on Wednesday looks to tackleonline safety for children by regulating Big Tech and social media platforms to deter users from content that can harm their mental health. Irene Ly, a policy counsel for the age-based ratings and review organization Common Sense Media, joined Cheddar News to break down the potential of the Kids Online Safety Act. "We can't be imposing such a big burden on parents to be doing it all on theirselves," Ly said. "I think you also have to keep in mind that parents often didn't grow up with social media, so they don't understand what it's like to be addicted to social media or really understand how they work."
While many still remain skeptical about the metaverse, big tech firms and even one big bank are ready to expand their virtual worlds. Facebook parent company has pivoted so hard it will now call its employees 'Metamates,' and even JPMorgan Chase has created its own digital lounge on one virtual platform. While the sector remains young, there seems to be significant investment opportunity, especially with companies like Nvidia. Adam Johnson, a portfolio strategist at Adviser Investments, joins Closing Bell to discuss which companies could win in this space, consumer appetite, and more.
Marc Blinder, Co-Founder and CEO of Aikon, joins Cheddar News' Closing Bell, where he discusses how his company is helping businesses use blockchain applications without needing to learn the intricacies of the new technology.
Senators Richard Blumenthal (D-Conn.) and Marsha Blackburn (R-Tenn.) have introduced a new bill to afford greater protection to minors on social media. The genesis of the Kids Online Safety Act came from a Facebook whistleblower case exposing the harm apps can have on the mental health of young girls.
Ride share competitors Uber and Lyft both posted their fourth quarter earnings days apart from each other. Both companies have been trying to get back on their feet after taking some pandemic-related hits, but the Omicron variant had other ideas as the year came to a close, with each company taking a hit in ridership in December. Lance Ippolito, head trader at The Future of Wealth explains how Uber and Lyft measured up this earnings period and why Uber may still have an edge over the competition.