WEBVTT - Combating Climate Change, Wellness Innovation, 3D Fashion

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<v Speaker 1>You're listening to Bloomberg Business Week with Carol Masser and

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<v Speaker 1>Jason Kelly on Bloomberg Radio. All right, so we've had

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<v Speaker 1>some nice sort of collisions of our interests. I feel

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<v Speaker 1>like a couple of times today Carol, for this Friday

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<v Speaker 1>edition of Bloomberg Business Week, and this is another. We

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<v Speaker 1>care about the earth, we care about the time it

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<v Speaker 1>and so does Julia Jackson, and like us, maybe even

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<v Speaker 1>more than us. Uh. She knows a lot about wine,

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<v Speaker 1>certainly more than me, maybe more than you as well.

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<v Speaker 1>And that's a bulk exactly. She's the proprietor of the

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<v Speaker 1>Jackson Family Winery. She's also the founder of Grounded. She's

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<v Speaker 1>based out in Cindoma, California. She's here with us in

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<v Speaker 1>New York City to tell us about Grounded. Julia, and welcome.

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<v Speaker 1>Thank you so much for having me. It's an honor

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<v Speaker 1>to be here. So I come from Jackson Family Wines,

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<v Speaker 1>which was founded by my father, the Just Jackson, and

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<v Speaker 1>my mother, Barbara Banky. I'm a second generation proprietor, and

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<v Speaker 1>the last decade I've really become a student of the

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<v Speaker 1>climate crisis and what's happening, and I've become increasingly concerned

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<v Speaker 1>about our trajectory as a species, and a lot of

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<v Speaker 1>people talking about the problem but not actually doing something

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<v Speaker 1>about it. So back in the wildfires decimated Santa Rosa

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<v Speaker 1>and cause nine billion dollars worth of damage to my community,

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<v Speaker 1>It's like, how could you? You can't ignore it right

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<v Speaker 1>when you're in California right now, and in terms of

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<v Speaker 1>the fires and the devastation that we've seen. Absolutely, I

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<v Speaker 1>actually just lost my home three weeks ago. Oh my god. Yeah,

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<v Speaker 1>But I have to say that after losing my home

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<v Speaker 1>this time around, I am more committed to the cause,

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<v Speaker 1>even more so than I was two years ago, which

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<v Speaker 1>is ironic because it was too years ago. The wildfires,

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<v Speaker 1>which really was the tipping point for me, even though

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<v Speaker 1>I'd been studying climate change, um experiencing it firsthand and

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<v Speaker 1>evacuating our ranch really led me to realize, this is

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<v Speaker 1>happening right now, and this is happening in our community,

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<v Speaker 1>and I need to do something about this. And you're

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<v Speaker 1>giving a speech or your right to the UN or

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<v Speaker 1>you did give a speech. I just gave a speech

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<v Speaker 1>this morning to tell us about what you wanted to emphasize,

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<v Speaker 1>because I do love that. I feel like the conversation

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<v Speaker 1>has been elevated, and there's more and more conversations about it,

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<v Speaker 1>and I hope that equally there are more things being

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<v Speaker 1>done to be condens about action, it feels like, and

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<v Speaker 1>that seemed to be at the core of what you're

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<v Speaker 1>saying to tell us, Yeah, exactly, absolutely So two years

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<v Speaker 1>ago I had the idea to launch my own startup, Grounded,

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<v Speaker 1>which really the vision for it was to create a

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<v Speaker 1>global movement around climate solution. So get solutions, give them

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<v Speaker 1>a platform, and have a summit um. We had our

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<v Speaker 1>first one in March of last year, convening solutionists speaking

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<v Speaker 1>to all sorts of solutions to the climate crisis and

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<v Speaker 1>get them in a room with policymakers, investors, influencers and

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<v Speaker 1>give them a makeup phone so that we're not just

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<v Speaker 1>talking about the problem. We can actually have these solutions

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<v Speaker 1>pitch their solutions to the world. What's interesting is, and

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<v Speaker 1>we Jason and I have certainly had these conversations at

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<v Speaker 1>some of the many of the Bloomberg Live events. But

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<v Speaker 1>you know, when you've seen the business roundtable come out

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<v Speaker 1>and say, Okay, it's not just a responsibility to our shareholder.

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<v Speaker 1>There are employees, there is the environment as a whole.

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<v Speaker 1>And I do wonder if you think in terms of

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<v Speaker 1>the conversations you're having and the people that you're speaking to,

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<v Speaker 1>is it our policymakers or is it really going to

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<v Speaker 1>be the private sector that continues to make the big

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<v Speaker 1>changes in California released front and center with all of this, Yes,

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<v Speaker 1>all hands on deck. Yeah, and Governor Jerry Browniere really

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<v Speaker 1>honored to have him open our summit last year and

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<v Speaker 1>um draw down the book drawed on by Paul Howkin,

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<v Speaker 1>which is a hundred Solutions to Climate Change was really

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<v Speaker 1>for me the inspiration behind Grounded and giving solutions a chance.

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<v Speaker 1>It's going to take policymakers, it's going to take the

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<v Speaker 1>private sector, it's going to take individual action, it's going

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<v Speaker 1>to take influencers. It's literally going to take every single

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<v Speaker 1>human being on this planet. So being able to create

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<v Speaker 1>a movement and get a lot more people to realize

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<v Speaker 1>there are solutions like regenerative agriculture that takes the quester

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<v Speaker 1>a trillion tons of carbon if scale globally, that would

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<v Speaker 1>put us at eight seventy levels pre industrial It's funny

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<v Speaker 1>because we talk about things like cars and stuff, but

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<v Speaker 1>you do think about agriculture I was out in the

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<v Speaker 1>Midwest and meat production and so on and so forth.

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<v Speaker 1>But you do think about the impact something like that

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<v Speaker 1>is having on our global economy and certainly our global environment. Right. Well,

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<v Speaker 1>we really appreciate the time Julia Jackson propriety of the

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<v Speaker 1>Jackson Family Wine. She's also the founder of Grounded based

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<v Speaker 1>in Sonoma, California. This work is at the core of

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<v Speaker 1>so many of the things that we're talking about. There's

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<v Speaker 1>a business imperative, clearly, in economic imperative, cultural imperative talking

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<v Speaker 1>about absolutely, and there's a human imperative to this. To

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<v Speaker 1>your point, it feels like we're at this moment where

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<v Speaker 1>more and more entrepreneurs ceo s, you know, folks are

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<v Speaker 1>starting to engage on this on a much more holistic level. Well,

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<v Speaker 1>and it goes to it's the right thing to do,

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<v Speaker 1>but you're also seeing more companies talk about it making

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<v Speaker 1>the business case for it as well. That it makes sense.

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<v Speaker 1>I do want to point out their next summit, it's

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<v Speaker 1>in March. The theme is Accelerat and connect Um. So

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<v Speaker 1>folks want to find out a little bit more about that.

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<v Speaker 1>They can certainly check out Grounded online. All right, So

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<v Speaker 1>I've very much been looking forward to this conversation with

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<v Speaker 1>Herbie Calvins, the president of Mixed Fitness, in part because

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<v Speaker 1>I've known Herbie for a long time. Full disclosure, I

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<v Speaker 1>didn't know we were going there. You have stories later later,

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<v Speaker 1>maybe better than twenty years i've known you. But in

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<v Speaker 1>part because I've been tracking your career very closely. You

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<v Speaker 1>worked at timeax on the iron Man brand, you work

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<v Speaker 1>for kiss my Face, a great organic skin products company,

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<v Speaker 1>and you've worked in consumer products and now you've turned

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<v Speaker 1>your attention to fitness Mixed Fitness. You guys had a

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<v Speaker 1>big week this week, launching a whole new platform. Tell

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<v Speaker 1>us about it. So we're launching a product Indian Home

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<v Speaker 1>Fitness Space. We feel like this category is emerging, it's

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<v Speaker 1>just burgeoning now. It's it's a new category. And what

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<v Speaker 1>we decided to do about a year ago a step

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<v Speaker 1>back and look at the consumers in this category. Nobody's

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<v Speaker 1>really talking about the different segments of consumers that exist.

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<v Speaker 1>And what we realized was there's a group about seven

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<v Speaker 1>percent of consumers are out there to work out to win,

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<v Speaker 1>workout to compete, and there's a much larger group of

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<v Speaker 1>consumers that are looking to work out to just be

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<v Speaker 1>fit and live a better life. So which one do

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<v Speaker 1>you want? The second group, the second group, and that

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<v Speaker 1>and that group. I mean, if you step back even

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<v Speaker 1>and just look at the category, um, fitness is about

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<v Speaker 1>a thirty two billion dollar category right now, and that

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<v Speaker 1>includes what Jim's you're talking about everything, right, Yeah, that's

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<v Speaker 1>according to URSA. Yeah, and it's a gym. It's fitness

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<v Speaker 1>and wellness. But yet obesity rates are two thirds of

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<v Speaker 1>adults are struggling with overweight obesity, one third of children

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<v Speaker 1>are struggling with over ob city. So something's not working.

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<v Speaker 1>So there's no solution out there that's really helping these people.

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<v Speaker 1>All right, So we think about Peloton, you know, I

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<v Speaker 1>p O didn't go as great as maybe they thought,

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<v Speaker 1>although it's creeping back towards that I p O price.

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<v Speaker 1>You look at something like Orange Theory fitness, which I

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<v Speaker 1>know you've tried. I mean, that's a really interesting concept

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<v Speaker 1>that seems to be catching on and and gets to

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<v Speaker 1>a slightly wider market. Put this in context for us

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<v Speaker 1>with those competitors. So Peloton really if you look if

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<v Speaker 1>you think about John Fooley's founder story, it's about soul

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<v Speaker 1>cycle streaming into the home. He and his wife were

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<v Speaker 1>frustrated they couldn't get into their favorite class. Um it's

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<v Speaker 1>sold cycles say, He's like, there's got to be an

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<v Speaker 1>answer here, and he's right, there is an answer. I

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<v Speaker 1>mean streaming has hit music, it's hit television and movies,

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<v Speaker 1>and now it's hitting fitness. And there's not just gonna

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<v Speaker 1>be one brand in that category. There's different consumers with

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<v Speaker 1>different needs. Like we just articulated for us, the context

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<v Speaker 1>is we didn't start this way, but it's an easy

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<v Speaker 1>way for people to understand what we're doing. We are

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<v Speaker 1>UM a bit of a blend of NEWM. You're familiar

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<v Speaker 1>with NEWM the wet loss app UM, where there's positive

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<v Speaker 1>psychology behavior change to make lasting change, combined with orange

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<v Speaker 1>theory in a way, which is the fastest growing Jim

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<v Speaker 1>franchise in the country right now because it's it's an approachable,

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<v Speaker 1>realistic UM fitness concept with heart rate training which is safe,

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<v Speaker 1>combined with cross training which is also safe. There's a

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<v Speaker 1>lot of overuse injuries of too much rowing, too much running,

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<v Speaker 1>too much cycling, so we're bringing that together all of

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<v Speaker 1>that and in it too. The home however, I think

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<v Speaker 1>sometimes some of the criticism of some of these in

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<v Speaker 1>home devices or fitness UM pieces of equipment is the cost.

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<v Speaker 1>And I'm just curious because that can certainly prevent you

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<v Speaker 1>from reaching a larger market. So tell me, yes, sir,

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<v Speaker 1>we we've priced it very accessibly, but it's not about price.

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<v Speaker 1>It really is about the psychographic and we consider ourselves

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<v Speaker 1>a content and um technology company. So for the product itself,

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<v Speaker 1>we have two different price options. We have one that

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<v Speaker 1>is a bike with the bike is the component of

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<v Speaker 1>the product that is Cardio, but we also UM the

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<v Speaker 1>bike only is about eleven ninety nine or thirty four

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<v Speaker 1>dollars a month if you finance it um or, and

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<v Speaker 1>then we have a mixed plus that we call UM

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<v Speaker 1>that includes UM weights and accessories from guy I'm in

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<v Speaker 1>spry and that's well. And I'm interested in that second

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<v Speaker 1>part because it does feel like people are and we

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<v Speaker 1>see this with Peloton quite honestly, sort of expanding this

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<v Speaker 1>platform understanding that people want to do different things at

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<v Speaker 1>different at times. What are you seeing in terms of

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<v Speaker 1>how people are evolving their activities? So I mean the

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<v Speaker 1>consumer that we're going after, we spoke to them, We

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<v Speaker 1>dove deeper to understand and they want variety. Um, they

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<v Speaker 1>want something they can look forward to that's different every day.

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<v Speaker 1>They're not looking to be the master or personal record

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<v Speaker 1>on a bike ride or run a little bit right,

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<v Speaker 1>but not get bored essentially, So we're offering that and

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<v Speaker 1>it's not an afterthought. It's from the beginning, similar Orange Grey,

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<v Speaker 1>where it's that cross training and the mix of different

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<v Speaker 1>concepts in there and for the mind as well. You

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<v Speaker 1>know that positive psychology that NUM is doing. We're doing

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<v Speaker 1>that in a big way in this product. That just

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<v Speaker 1>like kind of the support part of it, Like you know,

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<v Speaker 1>thinking about someone working out and maybe some of the

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<v Speaker 1>issues that they're having because I think about weight watchers

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<v Speaker 1>right you know w W. I mean they were really

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<v Speaker 1>trying to be kind of a part of your life.

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<v Speaker 1>That there the platform you go to for various things,

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<v Speaker 1>a very holistic approach. So I'm just curious it comes

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<v Speaker 1>down to the coaches. Are coaches are amazing and there

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<v Speaker 1>and there? Who are they? They're all industry veterans. We've

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<v Speaker 1>got people that are on the board of different industry associations.

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<v Speaker 1>They've done a lot of the worked for various leaders

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<v Speaker 1>out their Lifetime Equinox Soul Cycle, and they see what

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<v Speaker 1>we see and they believe in the mission that the

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<v Speaker 1>fitness industry is kind of failing America in many ways,

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<v Speaker 1>So how can they do something different? And they've bought

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<v Speaker 1>on and the how helping us? I do wonder. We've

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<v Speaker 1>only got about a minute left, but I do wonder

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<v Speaker 1>sort of what you take from your previous experience, especially

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<v Speaker 1>you think about your work on the iron Man brand

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<v Speaker 1>at time as you understand if you say, sort of

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<v Speaker 1>the psychographic, how has that evolved from the performance level,

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<v Speaker 1>But also you know that was a best selling watch

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<v Speaker 1>for a wide variety of people, right, and well it's aspirational.

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<v Speaker 1>There was an aspirational aspect there as well that you know,

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<v Speaker 1>the iron Man watches a badge for consumers, right, and

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<v Speaker 1>you can wear that on Wall Street and be like, oh,

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<v Speaker 1>he does iron Man, he's an athlete here she at

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<v Speaker 1>least works out. It works out, it does something that

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<v Speaker 1>made it creating a community. Yeah, it was a bit

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<v Speaker 1>of a community as well, definitely, But from my own

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<v Speaker 1>personal experience and seeing that, it was like, okay, what

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<v Speaker 1>sustainable see you see the trends kind of peak and

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<v Speaker 1>then go down and you see a lot of injuries

0:12:01.679 --> 0:12:04.079
<v Speaker 1>that come from that as well. So even personally, I've

0:12:04.120 --> 0:12:06.760
<v Speaker 1>done an iron Man down many marathons, Like, that's not

0:12:06.960 --> 0:12:09.480
<v Speaker 1>something I know I'm gonna keep up and enjoy doing

0:12:09.640 --> 0:12:12.319
<v Speaker 1>on a regular basis. So I like the variety. I

0:12:12.400 --> 0:12:15.079
<v Speaker 1>like mixing it up as I get older especially. I

0:12:15.200 --> 0:12:18.760
<v Speaker 1>also think at some point you're gonna hopefully have medical plans,

0:12:18.840 --> 0:12:21.680
<v Speaker 1>healthcare plans where you are encouraged, helped to be able

0:12:21.720 --> 0:12:23.719
<v Speaker 1>to divide, to buy more of these devices to keep

0:12:23.720 --> 0:12:27.079
<v Speaker 1>everybody healthy. All right. Herbie Calviz, President of Mixed Fitness.

0:12:27.360 --> 0:12:28.920
<v Speaker 1>I like that he got in that little flex that

0:12:29.000 --> 0:12:36.600
<v Speaker 1>he's on an iron Man. To love this guy. They

0:12:36.760 --> 0:12:40.040
<v Speaker 1>call themselves better and Fashion Technologists. I kind of love

0:12:40.120 --> 0:12:42.199
<v Speaker 1>that terminology. And they are founders of a three D

0:12:42.320 --> 0:12:45.079
<v Speaker 1>fashion design and development solutions company used by the likes

0:12:45.120 --> 0:12:47.319
<v Speaker 1>of Norch, DM, PVH, Rolf, Lauren and so many more.

0:12:47.360 --> 0:12:49.839
<v Speaker 1>Sharon and Lena Limb are the co founders of Brows.

0:12:49.880 --> 0:12:52.680
<v Speaker 1>Where Lena is in our Bloomberg Interactive Broker studio right

0:12:52.760 --> 0:12:55.240
<v Speaker 1>here in New York. Sharon is on the phone from

0:12:55.280 --> 0:12:57.560
<v Speaker 1>Singapore where it's Saturday morning, so it's kind of early

0:12:57.640 --> 0:13:00.240
<v Speaker 1>out there. Um, we welcome you both to blue Burg

0:13:00.320 --> 0:13:03.200
<v Speaker 1>Radio and Bloomberg Business Week. UM, Lena, let me start

0:13:03.280 --> 0:13:04.719
<v Speaker 1>with you. Tell us a little about your company and

0:13:04.760 --> 0:13:08.000
<v Speaker 1>what you guys are doing. So we're in the three

0:13:08.080 --> 0:13:11.400
<v Speaker 1>D simulation software. So three D has always been in place,

0:13:11.800 --> 0:13:14.559
<v Speaker 1>but not for soft cloth and how it drapes on

0:13:14.640 --> 0:13:18.200
<v Speaker 1>the body. So we are the leading tree D technology

0:13:18.280 --> 0:13:22.320
<v Speaker 1>solutions for the fashion industry. Well, and a key part

0:13:22.400 --> 0:13:26.280
<v Speaker 1>of this, Sharon, come on in here is the sustainability

0:13:26.320 --> 0:13:29.080
<v Speaker 1>aspect of it. It's something that we're talking about more

0:13:29.320 --> 0:13:33.240
<v Speaker 1>and more here on our show. Personally we're talking about it.

0:13:33.320 --> 0:13:35.280
<v Speaker 1>I know, Carol, you and I have talked about talking

0:13:35.320 --> 0:13:38.199
<v Speaker 1>about it with with our kids even so talk to

0:13:38.320 --> 0:13:43.199
<v Speaker 1>us about the sustainability element here, Sharon. Thanks for the

0:13:43.320 --> 0:13:47.400
<v Speaker 1>fashion industry. It's a long drawn and it's it's about

0:13:47.600 --> 0:13:51.120
<v Speaker 1>it's um it's something that change. It's about changing the

0:13:51.200 --> 0:13:56.439
<v Speaker 1>way fashion basically is designed, developed, and soul. And this

0:13:56.679 --> 0:14:00.960
<v Speaker 1>essentially is why I think Bros. This is as a company,

0:14:01.800 --> 0:14:04.199
<v Speaker 1>you know, to kind of drive some of the sustainability.

0:14:04.240 --> 0:14:05.880
<v Speaker 1>I think the idea at the end of the day

0:14:06.200 --> 0:14:09.920
<v Speaker 1>is don't produce until you know that it's going to

0:14:10.000 --> 0:14:12.959
<v Speaker 1>go somewhere with a consumer wants it, and not to

0:14:13.120 --> 0:14:17.960
<v Speaker 1>keep producing. UM. You know as well that the fashion industry,

0:14:17.960 --> 0:14:23.000
<v Speaker 1>it's UM, has a lot of sustained, unsustainable production methods

0:14:23.480 --> 0:14:28.480
<v Speaker 1>and producing a physical comment. UM, often it's not it's

0:14:28.520 --> 0:14:30.880
<v Speaker 1>not the best way to go until so the the

0:14:31.000 --> 0:14:35.120
<v Speaker 1>idea is to reduce it until you know it's really

0:14:35.200 --> 0:14:37.160
<v Speaker 1>going to go somewhere that someone wants to buy it.

0:14:37.240 --> 0:14:39.120
<v Speaker 1>It's like just in time inventory. I love this. So

0:14:39.160 --> 0:14:41.400
<v Speaker 1>it's taken me back to accounting in college. UM. But

0:14:41.520 --> 0:14:44.200
<v Speaker 1>what's interesting in you know what I find Jason and

0:14:44.280 --> 0:14:46.240
<v Speaker 1>I have had some conversations UM an author of a

0:14:46.240 --> 0:14:49.480
<v Speaker 1>book called Fashionopolis and talking about fashion fast fast fashion.

0:14:50.080 --> 0:14:53.120
<v Speaker 1>She was here earlier. I know, I know she was UM,

0:14:53.240 --> 0:14:56.240
<v Speaker 1>and it's just fascinating. We've been kind of really UM

0:14:56.640 --> 0:14:59.280
<v Speaker 1>involved with what she's been writing about and talking about.

0:14:59.320 --> 0:15:01.560
<v Speaker 1>But this whole idea have kind of waste by the

0:15:01.640 --> 0:15:05.120
<v Speaker 1>fast fashion industry to some extent, and the waste on

0:15:05.240 --> 0:15:07.720
<v Speaker 1>the industry. So Lena, tell me what you guys do

0:15:07.800 --> 0:15:11.040
<v Speaker 1>at Browswear. I understand just doing it just in time,

0:15:11.480 --> 0:15:14.240
<v Speaker 1>how that is making a difference. And certainly some of

0:15:14.280 --> 0:15:15.760
<v Speaker 1>the companies that you work with in some of the

0:15:15.840 --> 0:15:20.120
<v Speaker 1>brands how that has improved kind of their impact on

0:15:20.440 --> 0:15:23.720
<v Speaker 1>our climate. So one area that people are not aware

0:15:23.760 --> 0:15:27.880
<v Speaker 1>of is firstly, the fashion industry is like the most

0:15:27.960 --> 0:15:31.600
<v Speaker 1>pollutant second to all guests. We are probably throwing clothes

0:15:31.640 --> 0:15:34.800
<v Speaker 1>at a rate of about eleven thousand pieces per hour

0:15:35.160 --> 0:15:38.920
<v Speaker 1>into landfill. And a part of that is not just

0:15:39.080 --> 0:15:41.160
<v Speaker 1>coming from what's not sold. A part of it is

0:15:41.280 --> 0:15:46.240
<v Speaker 1>coming from how clothes are being designed, sampled right before

0:15:46.480 --> 0:15:49.680
<v Speaker 1>it is even being made, so they're going through three

0:15:49.840 --> 0:15:52.560
<v Speaker 1>four rounds of iteration just to get an idea of

0:15:52.600 --> 0:15:55.800
<v Speaker 1>what the designer really wants, and that is making a

0:15:56.040 --> 0:15:59.760
<v Speaker 1>huge because this clothes are thrown away. They can't be sold.

0:16:00.040 --> 0:16:02.680
<v Speaker 1>Can't they be recycled? Though? Like H and M as

0:16:02.720 --> 0:16:05.360
<v Speaker 1>a retailer, and of course there's been criticism about them

0:16:05.400 --> 0:16:08.200
<v Speaker 1>in in terms of fast fashion, but they are increasingly

0:16:08.280 --> 0:16:11.280
<v Speaker 1>taking in clothes and recycling them and making them into news.

0:16:11.360 --> 0:16:13.760
<v Speaker 1>So why isn't you know that we can't do that?

0:16:14.200 --> 0:16:16.480
<v Speaker 1>You can, but the whole idea around it as well,

0:16:16.520 --> 0:16:19.240
<v Speaker 1>you can recycle. The most sustainable manner of it is

0:16:19.320 --> 0:16:21.720
<v Speaker 1>to think about how about not producing it until you

0:16:21.800 --> 0:16:24.800
<v Speaker 1>really want to stop it. Yeah, just stop it. Then

0:16:24.880 --> 0:16:26.600
<v Speaker 1>we don't have to deal with the whole issue of

0:16:27.000 --> 0:16:30.120
<v Speaker 1>reusing it or recycling. And I think that's where Browsbay

0:16:30.240 --> 0:16:32.920
<v Speaker 1>comes in. Let's nip it until we really need it,

0:16:33.120 --> 0:16:35.920
<v Speaker 1>until it can really be wanted. And So, Sharon, as

0:16:36.000 --> 0:16:41.760
<v Speaker 1>you think about this from where you sit literally in Singapore,

0:16:42.120 --> 0:16:45.200
<v Speaker 1>you know this is ultimately a global Issua. I'm fascinated

0:16:45.240 --> 0:16:47.120
<v Speaker 1>by the fact that that you guys are able to

0:16:47.240 --> 0:16:51.760
<v Speaker 1>manage this company. Uh so globally, you know, as as

0:16:51.800 --> 0:16:55.320
<v Speaker 1>co founders of this company, as twin sisters. As we

0:16:55.480 --> 0:16:58.640
<v Speaker 1>pointed out, what do you see from your perspective there?

0:16:58.800 --> 0:17:04.040
<v Speaker 1>How is it being received? Uh? There? In Asia? Actually

0:17:04.119 --> 0:17:07.159
<v Speaker 1>the technology has been around since the late nineties to

0:17:07.280 --> 0:17:10.560
<v Speaker 1>the early two thousand and the supply chain guys actually,

0:17:11.119 --> 0:17:15.760
<v Speaker 1>which is predominantly here in Asia, has been early adopted

0:17:15.880 --> 0:17:20.120
<v Speaker 1>as well. They do understand there's a lot more than well,

0:17:20.359 --> 0:17:23.600
<v Speaker 1>they want to say that they are the last last

0:17:23.640 --> 0:17:26.120
<v Speaker 1>guys on the food chain, so they kind of understand

0:17:26.160 --> 0:17:29.399
<v Speaker 1>the impact that it makes a lot earlier, so some

0:17:29.560 --> 0:17:33.399
<v Speaker 1>of our earliest clients were all really factories who are

0:17:33.440 --> 0:17:37.359
<v Speaker 1>trying to make this change a lot faster. So what

0:17:37.440 --> 0:17:41.879
<v Speaker 1>does it take and then I'm sorry forgive me go ahead, no, no,

0:17:42.000 --> 0:17:45.479
<v Speaker 1>and then introducing it actually bring it back to there

0:17:45.520 --> 0:17:47.920
<v Speaker 1>are clients and saying here, this is a better way

0:17:47.960 --> 0:17:50.960
<v Speaker 1>of working. You know, can we work this way? So

0:17:51.480 --> 0:17:53.960
<v Speaker 1>this is what this is why we we have a

0:17:54.040 --> 0:17:57.160
<v Speaker 1>strong base here in Asia, but at the same time

0:17:57.280 --> 0:18:00.040
<v Speaker 1>in in other continents that they're inside a lot of

0:18:00.119 --> 0:18:05.040
<v Speaker 1>stakeholders and everybody's can of disperse in different continents. So

0:18:05.200 --> 0:18:08.280
<v Speaker 1>what will it take, um, Leada, let me put this

0:18:08.400 --> 0:18:11.360
<v Speaker 1>to you. What will it take for the fashion industry?

0:18:11.400 --> 0:18:15.320
<v Speaker 1>I mean, it's a huge industry, it's a global industry. Um,

0:18:15.880 --> 0:18:19.639
<v Speaker 1>you're working often in emerging economies in terms of, you know,

0:18:19.720 --> 0:18:21.640
<v Speaker 1>trying to keep costs down, in terms of what will

0:18:21.680 --> 0:18:26.200
<v Speaker 1>it take for the industry to dramatically reduce its carbon footprint.

0:18:27.240 --> 0:18:30.240
<v Speaker 1>I think it's consumer. I think it's the awarners of

0:18:30.359 --> 0:18:34.200
<v Speaker 1>consumer about what the industry is doing. The consumer having

0:18:34.240 --> 0:18:36.960
<v Speaker 1>the choice to say I will work and I will

0:18:37.040 --> 0:18:41.080
<v Speaker 1>buy from a brand that I know is protecting the

0:18:41.160 --> 0:18:44.040
<v Speaker 1>earth and creation and all of that. And I think

0:18:44.119 --> 0:18:47.600
<v Speaker 1>it's the consumer choice. And in recent trends we've seen

0:18:47.720 --> 0:18:51.480
<v Speaker 1>because of this consumer that there's a huge awareness even

0:18:51.600 --> 0:18:56.040
<v Speaker 1>on you know, fair practices, UM, you know, uh, labor costs.

0:18:56.640 --> 0:19:00.040
<v Speaker 1>A lot of this has been driven awareness um to

0:19:00.200 --> 0:19:02.879
<v Speaker 1>the consumer, and they're putting the pressure on the brands

0:19:02.920 --> 0:19:05.400
<v Speaker 1>and the retailers. UM. I think that's a big part.

0:19:05.520 --> 0:19:08.680
<v Speaker 1>The second part of it is the the availability of

0:19:08.760 --> 0:19:13.040
<v Speaker 1>technology that's enabling this to happen at a lot faster

0:19:13.520 --> 0:19:17.280
<v Speaker 1>without going through uh, you know, huge effort. They can

0:19:17.359 --> 0:19:19.800
<v Speaker 1>now do it very easily. So I think that's exciting.

0:19:19.880 --> 0:19:22.919
<v Speaker 1>Does this your company? I'm just very quickly tyconds. Does

0:19:22.960 --> 0:19:26.040
<v Speaker 1>it make it possible for you know, manufacturers to kind

0:19:26.040 --> 0:19:28.240
<v Speaker 1>of set up shop in their backyards more easily, because

0:19:28.240 --> 0:19:31.160
<v Speaker 1>I just think with the trade wars, whether we're finding

0:19:31.200 --> 0:19:34.000
<v Speaker 1>people having to do that, just very quickly Yes, it

0:19:34.240 --> 0:19:37.320
<v Speaker 1>definitely opens up the opportunity for me to measure, which

0:19:37.400 --> 0:19:40.800
<v Speaker 1>means on shoring rather than off shoring. Definitely very cool.

0:19:40.840 --> 0:19:43.680
<v Speaker 1>Star all right, really really interesting. Thank you both so much.

0:19:43.840 --> 0:19:46.280
<v Speaker 1>Lena and Sharon lem leaning here with us in our

0:19:46.320 --> 0:19:49.480
<v Speaker 1>Bloomberg interact or Broker Studio, A co founder chief commercial

0:19:49.520 --> 0:19:54.359
<v Speaker 1>officer of Browsware and Sharon limb up early in Singapore

0:19:54.520 --> 0:19:56.840
<v Speaker 1>Saturday morning. Cheese, the CEO of Browseware,