WEBVTT - Live From The Bloomberg Power Players Summit in LA

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<v Speaker 1>This is Bloomberg Business Week. I'm Karl Masser and I'm

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<v Speaker 1>Bloomberg Quick Takes Tim Stanovk. We're here every day bringing

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<v Speaker 1>Search Bloomberg, Clovel News, Bloomberg Business Week Live at the

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<v Speaker 1>Power Players Summit. Now sports we know increasingly crossing over

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<v Speaker 1>into other areas and gaming, betting, long form content creating

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<v Speaker 1>and more. In our next guest made his mark on

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<v Speaker 1>video games and electronic arts, Microsoft Xbox and Stag of America.

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<v Speaker 1>We are so delighted to have Peter Moore with us,

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<v Speaker 1>named Senior Vice president GM of Sports and Live Entertainment

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<v Speaker 1>at the big game engine maker Unity Technologies just about

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<v Speaker 1>a year ago, former CE Chief executive of Liverpool Football Club.

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<v Speaker 1>I feel like we could talk about so many different things. Well,

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<v Speaker 1>let's talk about Unity. Yeah, what's what's your mission at Unity?

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<v Speaker 1>Is it all about gaming? Is it? Though I've also

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<v Speaker 1>heard about maybe moving into contact creation. It's more than gaming. Unity,

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<v Speaker 1>who I've known for years being in the gaming business

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<v Speaker 1>before I went off to Liverpool to do a little

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<v Speaker 1>bit of traditional sports. UM started off life as a

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<v Speaker 1>mobile gaming engine and it's really grown under the direction

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<v Speaker 1>of leadership of my former Bossity John Ricktello. About six

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<v Speaker 1>thousand people now forty five officers, and we focus on

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<v Speaker 1>real time three D bringing things to life and obviously

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<v Speaker 1>and I'm going to use the metaverse like you gotta

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<v Speaker 1>go there is he gonna go? Bob Peck of Disney

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<v Speaker 1>was all in on it on his earnings call this week. Well,

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<v Speaker 1>we believe, you know that the metaverse everything's going to

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<v Speaker 1>be in three dimensions. We're going to interact three dimensionally,

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<v Speaker 1>either as avatars or go into environments, shopping, sporting events

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<v Speaker 1>in three dimensionals. And so when how long does it

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<v Speaker 1>take though to get there? We're still still the ways

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<v Speaker 1>away from a real time element of it, but we've

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<v Speaker 1>been working a unity with the UFC, who have been

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<v Speaker 1>incredible collaborators and we've captured volumetrically to UFC fight is

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<v Speaker 1>here in Los Angeles a few months ago. And what

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<v Speaker 1>this means is that not only can you watch your

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<v Speaker 1>UFC fight, but then on your smartphone or your tablet,

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<v Speaker 1>we will deliver to you three D imagery that you

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<v Speaker 1>can manipulate and interact with. And you know, as a

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<v Speaker 1>guy that remembers watching football, soccer and black and white,

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<v Speaker 1>this feels like when color arrived and it just opened

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<v Speaker 1>up my world. It was a completely different experience. So

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<v Speaker 1>I understand it from a perspective of content consumption and

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<v Speaker 1>perhaps gaming, but from a hardware perspective, what does it

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<v Speaker 1>look like? And and who owns that space? Who wins there? Well,

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<v Speaker 1>the hardware it could be via obviously virtual reality. Augmented

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<v Speaker 1>reality we think plays a role here. When we say

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<v Speaker 1>augmented reality means that is the Google class back in

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<v Speaker 1>the y on this table we're here right now, actually

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<v Speaker 1>three dimensionally. The Super Bowl could be played out three

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<v Speaker 1>dimensionally in in what probably looks holographic but instead of

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<v Speaker 1>flat imagery, what augmented reality? We all played Pokemon Go,

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<v Speaker 1>But you have this idea of things that come to

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<v Speaker 1>life in interesting ways, typically using a smartphone or a

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<v Speaker 1>tablet to look at them and view with them, and

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<v Speaker 1>the unity we're doing this, and not not only in gaming,

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<v Speaker 1>but automotive design, construction, architecture, bringing the world to life,

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<v Speaker 1>creating digital twins and and getting away from carving clay

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<v Speaker 1>models for cars and things of that nature, which feels

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<v Speaker 1>so archaic now, and and bring that to life in

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<v Speaker 1>sports is a big deal for us. So sports games,

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<v Speaker 1>the super Bowl, the metaverse, that's not something unusual maybe

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<v Speaker 1>in the future, not at all. I think at first

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<v Speaker 1>you're going to see, for example, the food fighters have

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<v Speaker 1>got their concert after In VR, you do need the

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<v Speaker 1>headset um. A lot of people find VR difficult. There's

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<v Speaker 1>only so much you can tolerate. But ultimately, I think

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<v Speaker 1>that's the first step in my life. I've been in

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<v Speaker 1>video games off and on for twenty five years. And

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<v Speaker 1>the more you need hardware, they're a little more challenge.

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<v Speaker 1>Is you talked about Google glass and that when by

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<v Speaker 1>the wayside is it's hard wearing wearables. I'm getting to

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<v Speaker 1>play and so you want you want to be able

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<v Speaker 1>to interact in devices like these laptops we have in

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<v Speaker 1>front of us without having a bespoke piece of hardware,

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<v Speaker 1>and that's what we're working on. I think we'll watch

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<v Speaker 1>boarding events in in on television and we currently do.

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<v Speaker 1>Like I'm watching Liverpool a goal is scored. I watched

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<v Speaker 1>them yesterday, and I go to my tablet and the

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<v Speaker 1>manipulate that imagery and what we call six degrees of freedom.

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<v Speaker 1>I want to be in the penalty area when the

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<v Speaker 1>shot is made. I want to be behind the goalkeeper

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<v Speaker 1>as he makes the save. And you can do that

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<v Speaker 1>with volumetric capture. Hey, Peter, for our investor audience, who

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<v Speaker 1>are the winners here other than unity? I mean, look,

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<v Speaker 1>it takes it takes hardware, it takes chips. Yeah, you know,

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<v Speaker 1>it takes manufacturing in order to bring this to life.

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<v Speaker 1>But yeah, I mean, and look at the context of

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<v Speaker 1>course of this question, is Facebook or Metal Platforms Inc.

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<v Speaker 1>Investors don't think they're the winner right now? I think,

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<v Speaker 1>you know, I go back to the dial up days

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<v Speaker 1>of when I was at Sega. We were burning video

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<v Speaker 1>games somehow with thirty frames second, NFL, NBA, NHL via

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<v Speaker 1>a dial up modium, and that modem was running a

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<v Speaker 1>fifty six K and and it sounds ridiculous. Somehow we

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<v Speaker 1>got those games until your mom picked up the phone

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<v Speaker 1>in the other room and then a disaster. You're welcome

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<v Speaker 1>to my life because that is what happened. But the

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<v Speaker 1>dreamcast led the way to say a dreamcast what what

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<v Speaker 1>the point I'm making is it takes a while, it

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<v Speaker 1>takes a village in the cases that we're saying real

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<v Speaker 1>time three D. It's not just Unity, but but camera

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<v Speaker 1>companies like Cannon and Sony need to build those volumetric

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<v Speaker 1>capture cameras, Computing companies that delivered networks like Cisco for example,

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<v Speaker 1>and then the five G s, particularly in North America

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<v Speaker 1>are desperate for this content. Um you know, they want

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<v Speaker 1>to fill that five G pipe verizons A T and

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<v Speaker 1>T s, the T mobiles of this world. And so

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<v Speaker 1>what we're doing at Unity is trying to coalesce the

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<v Speaker 1>entire industry to bring these experiences to sports fans. But

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<v Speaker 1>do you have a timeline because I do think this

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<v Speaker 1>is something that my boss I know. But you know

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<v Speaker 1>there's going to be tons of pressure. And you know

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<v Speaker 1>we were about Disney like they're all like, but how

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<v Speaker 1>how is it a five year thing? Is it? Oh? No, no,

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<v Speaker 1>we will be delivering. We will be delivered we're working

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<v Speaker 1>very closely with the UFC. We will be delivering a

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<v Speaker 1>three D experience that you can go straight to your

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<v Speaker 1>tablet this calendar year. Now, what that will be is

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<v Speaker 1>probably a bundle of highlights from a fight. You want

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<v Speaker 1>to see a particular move, you want to see a kick,

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<v Speaker 1>you want to see a punch, a tap out. We

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<v Speaker 1>can take you there. But the goal ultimately is to

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<v Speaker 1>get to real time. And we believe and and maybe

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<v Speaker 1>a couple of years from now, that within three seconds

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<v Speaker 1>of the action happening, you can actually manipulate the action

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<v Speaker 1>in real time three D. Alright, gotta ask it Bengals

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<v Speaker 1>or Rams? You know, I arrived in America and I

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<v Speaker 1>wanted to learn American football and it was the L

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<v Speaker 1>A Rams. But that l A Rams was Jim Everett,

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<v Speaker 1>Eric Dickison, Henry Ellard, Flipper Anderson. If you're way too

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<v Speaker 1>your guys and I would go as this white skinned

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<v Speaker 1>englishman in the Son of Anaheim to the Big A

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<v Speaker 1>and watch these Rams who got destroyed for a decade

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<v Speaker 1>by the Forty Nights, but I love and then they

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<v Speaker 1>moved to St. Louis. I go, what just hous it? So?

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<v Speaker 1>Rams are Rams? Peter Moore, Jem love this. Thank you

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<v Speaker 1>so much, Peter Moore, Immunity Technologies. Here on Bloomberg Radio.

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<v Speaker 1>This is Bloomberg Business Week with Carol Messer and Bloomberg

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<v Speaker 1>Quick Takes Tim Stenovic on Bloomberg Radio. Well, our next

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<v Speaker 1>guest is participating in a panel at today's Bloomberg Power

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<v Speaker 1>Player Summit. It's on the modern athlete, looking at the

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<v Speaker 1>bigger role that athletes are really playing in our world.

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<v Speaker 1>So so great to have with us. Our next guest, Yeah,

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<v Speaker 1>Carle Lloyd is joining us. She's a two time FIFA

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<v Speaker 1>World Cup champion, member of the U S women's national

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<v Speaker 1>soccer team, two time Olympic old medalists. The list continues

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<v Speaker 1>to go on and on. Carly, how are you? I'm great,

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<v Speaker 1>Sonny California. Can't complain coming from New Jersey. We care. Well,

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<v Speaker 1>how do you think about this holistically right now? I

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<v Speaker 1>mean in terms of where you are in your career, uh,

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<v Speaker 1>and in terms of just where we are as a

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<v Speaker 1>society when it comes to h P one sports. Uh. Well,

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<v Speaker 1>newly freshly retired. So it's been a couple of months. Um,

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<v Speaker 1>I retired in November, finished up then and so now

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<v Speaker 1>I'm in the space of, you know, what what do

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<v Speaker 1>I do after sport? I played soccer for thirty four

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<v Speaker 1>years of my life, seventeen years professionally, and uh, you know,

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<v Speaker 1>I don't think any moment can prepare you for this moment.

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<v Speaker 1>But I think what I did during my career and

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<v Speaker 1>throughout the course of my career, I set myself up

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<v Speaker 1>nicely to retire, and I'm at peace with that decision.

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<v Speaker 1>And now it's about building, continuing to build my brand

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<v Speaker 1>and uh continuing to just you know, break barriers within

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<v Speaker 1>the woman's uh game. And I think we're in a

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<v Speaker 1>really great space to to just keep empowering so many

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<v Speaker 1>other women and uh the sport, the sports growing tremendously.

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<v Speaker 1>I want to talk to you about that. But when

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<v Speaker 1>did you first start playing? I first started playing at

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<v Speaker 1>the age of five. Wow, did you like it? Right away?

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<v Speaker 1>I loved it. My parents signed me up for you know,

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<v Speaker 1>multiple different whets. Um. I swam, played softball, basketball, I

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<v Speaker 1>actually uh did skiing as well. They put they my

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<v Speaker 1>parents put us in ski school and then they went

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<v Speaker 1>off and skied on their own and enjoyed that. So

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<v Speaker 1>I did so many different sports and I really believe

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<v Speaker 1>that that has helped shaped who I am as a

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<v Speaker 1>person and player to this day. But you know, when

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<v Speaker 1>my mom signed me up for dance and piano, um,

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<v Speaker 1>I screamed and cried going to practice, and I didn't

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<v Speaker 1>with soccer. So I think that was a very good

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<v Speaker 1>indication that I was interested in that when it came

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<v Speaker 1>to sports growing up, though, at what point did you

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<v Speaker 1>realize that you were special when it came to soccer.

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<v Speaker 1>I think a lot of other people saw the talent

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<v Speaker 1>uh in me and and just noticed that I was

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<v Speaker 1>different from a lot of other players. Um I loved it,

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<v Speaker 1>you know, that was that was my biggest thing. Is

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<v Speaker 1>I just loved playing and and you know they really

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<v Speaker 1>say for love of the game. It was it was

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<v Speaker 1>for love of the game. Um and and I think

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<v Speaker 1>you know, for me, the earning point was watching Women's

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<v Speaker 1>World Cup team play in the US. I got to

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<v Speaker 1>go to game, and for me, that was that was

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<v Speaker 1>a real big moment um that changed my life because

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<v Speaker 1>I looked out onto that field watching from the stands

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<v Speaker 1>and I knew that that was what I wanted to do.

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<v Speaker 1>So those women helped inspire me, and now I'm helping

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<v Speaker 1>to inspire so many other generations coming up. The pipeline

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<v Speaker 1>talked to us about that, because it's not easy for

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<v Speaker 1>women in lots of different industries and certainly not in sports,

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<v Speaker 1>and you know the inequities that are out there. I'd

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<v Speaker 1>like to think it's getting better, but you tell me,

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<v Speaker 1>because you've seen it front and center. I'd like to

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<v Speaker 1>say that we're at a stage where we can just

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<v Speaker 1>kind of rest in our laurels, but that's not the case.

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<v Speaker 1>I feel like it's just this constant evolution of continuing

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<v Speaker 1>to push and break these barriers. The women before me,

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<v Speaker 1>uh did it as well. When I first came onto

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<v Speaker 1>the team in two thousand and five, they were fighting

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<v Speaker 1>for guaranteed contracts so they didn't didn't have to work anywhere.

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<v Speaker 1>They were fighting for health insurance for pregnancy leave, um.

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<v Speaker 1>And I just get, you know, two checks from playing

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<v Speaker 1>in two games and coming out of college, and I'm

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<v Speaker 1>thinking this is amazing, um. But I didn't realize the

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<v Speaker 1>magnitude of what they were fighting for, and that laid

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<v Speaker 1>the foundation for myself for you know, all all my

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<v Speaker 1>teammates that I played for, and now we're doing the

0:11:16.280 --> 0:11:19.880
<v Speaker 1>same for this next generation coming in does name image,

0:11:19.920 --> 0:11:23.960
<v Speaker 1>likeness and the ability for now college athletes, Like, does

0:11:24.000 --> 0:11:27.600
<v Speaker 1>that help in terms of giving women maybe some more power, like,

0:11:27.960 --> 0:11:30.520
<v Speaker 1>because I think there's now a time where brands are

0:11:30.559 --> 0:11:32.959
<v Speaker 1>like you can have a lot of sway over a

0:11:33.000 --> 0:11:35.400
<v Speaker 1>lot of consumers that are out there, and and I

0:11:35.440 --> 0:11:38.360
<v Speaker 1>just wonder does that help in the fight? I think

0:11:38.360 --> 0:11:40.760
<v Speaker 1>it does help. Um. You know, I was recently talking

0:11:40.800 --> 0:11:44.360
<v Speaker 1>with a you know, a field hockey player who's going

0:11:44.360 --> 0:11:47.240
<v Speaker 1>to college who lives in our area, and um, she's

0:11:47.360 --> 0:11:51.880
<v Speaker 1>nationally ranked like number one field hockey player in the country. Um.

0:11:51.920 --> 0:11:54.040
<v Speaker 1>And and she just wants to play right, but they

0:11:54.080 --> 0:11:57.880
<v Speaker 1>have the opportunity to to build a brand. And and

0:11:58.040 --> 0:12:00.240
<v Speaker 1>what I told her was just be all fen tick.

0:12:00.280 --> 0:12:03.479
<v Speaker 1>You know. I built my brand off of just being authentic,

0:12:03.640 --> 0:12:07.560
<v Speaker 1>true to myself. It all happened organically. Um. But that's

0:12:07.559 --> 0:12:10.640
<v Speaker 1>the best way to go because I think now you're

0:12:10.760 --> 0:12:14.439
<v Speaker 1>you're gonna see you know, all of these young players,

0:12:14.840 --> 0:12:18.240
<v Speaker 1>um get innudated with so many opportunities, and it's like

0:12:18.520 --> 0:12:20.960
<v Speaker 1>you can't just pick everything that comes your way. UM.

0:12:21.000 --> 0:12:23.160
<v Speaker 1>And I think that that is really going to be

0:12:23.200 --> 0:12:26.040
<v Speaker 1>the key, is just being smart with the decisions that

0:12:26.080 --> 0:12:29.480
<v Speaker 1>they're making. UM and really dive deep and figure out

0:12:29.559 --> 0:12:31.600
<v Speaker 1>what type of brand they want to be and represent.

0:12:31.920 --> 0:12:33.760
<v Speaker 1>How do you think the role of an athlete changed

0:12:33.840 --> 0:12:36.640
<v Speaker 1>in society during your career? And I asked that not

0:12:36.760 --> 0:12:40.000
<v Speaker 1>just as we're seeing athletes increasingly become investors, but also

0:12:40.280 --> 0:12:43.920
<v Speaker 1>increasingly takes stands off the field for political causes. It's

0:12:43.960 --> 0:12:46.800
<v Speaker 1>been huge. I've had sort of the best of both worlds,

0:12:47.160 --> 0:12:50.480
<v Speaker 1>UM and different worlds. Two thousand five to about two

0:12:50.520 --> 0:12:53.600
<v Speaker 1>thousand ten, there was really no social media presence at all,

0:12:54.000 --> 0:12:55.960
<v Speaker 1>you know, I just played soccer, focused on that and

0:12:56.000 --> 0:12:58.880
<v Speaker 1>that was it. Once two thousand ten two thousand eleven

0:12:58.920 --> 0:13:02.559
<v Speaker 1>World Cup hit, Uh, that's when I joined Twitter and

0:13:02.679 --> 0:13:05.440
<v Speaker 1>social media became very prevalent. And now you have all

0:13:05.480 --> 0:13:10.320
<v Speaker 1>these opportunities to build your brand and have opportunities to

0:13:10.720 --> 0:13:13.600
<v Speaker 1>you know, make posts for for you know, money, and

0:13:13.880 --> 0:13:16.720
<v Speaker 1>sign on with different endorsements. So I think it's just

0:13:16.800 --> 0:13:20.640
<v Speaker 1>really uh, you know, a unique space to be in. UM.

0:13:20.679 --> 0:13:23.360
<v Speaker 1>You know, it's not something that I would you know,

0:13:23.480 --> 0:13:27.360
<v Speaker 1>recommend people just you know doing right away. I mean,

0:13:27.400 --> 0:13:29.640
<v Speaker 1>I think it just you have to be really smart,

0:13:29.720 --> 0:13:31.520
<v Speaker 1>you have to be diligent about it. You have to

0:13:31.880 --> 0:13:35.360
<v Speaker 1>figure out what you're really passionate about and and the

0:13:35.400 --> 0:13:37.199
<v Speaker 1>way you want your brand to go. I think that's

0:13:37.240 --> 0:13:39.520
<v Speaker 1>the most important thing. Um. You know, you don't want

0:13:39.520 --> 0:13:42.200
<v Speaker 1>to just a quick hit of something just because you

0:13:42.200 --> 0:13:45.160
<v Speaker 1>think you're gonna earn a few bucks. Um. And I've

0:13:45.200 --> 0:13:48.320
<v Speaker 1>just kind of built this brand over time. But it's

0:13:48.320 --> 0:13:50.480
<v Speaker 1>been you know, it's been incredible to have the platform

0:13:50.559 --> 0:13:54.320
<v Speaker 1>to be able to voice concerns about different, uh, you know,

0:13:54.400 --> 0:13:56.640
<v Speaker 1>different things going on in the world on and off

0:13:56.640 --> 0:13:58.760
<v Speaker 1>the field. And do you feel like you have freedom

0:13:58.920 --> 0:14:01.400
<v Speaker 1>to do to say what you want without any kind

0:14:01.400 --> 0:14:03.720
<v Speaker 1>of repercussions or is there always a little bit of

0:14:03.760 --> 0:14:06.560
<v Speaker 1>management and balance in that? Um? You know, I don't.

0:14:06.679 --> 0:14:10.680
<v Speaker 1>I don't think you necessarily do UM for me as

0:14:10.679 --> 0:14:15.520
<v Speaker 1>a player. When I was playing, my social media portrayed

0:14:15.679 --> 0:14:21.000
<v Speaker 1>motivational quotes, uh me playing me, training, working hard, and

0:14:21.080 --> 0:14:23.160
<v Speaker 1>that's what I wanted to be about. You know, I

0:14:23.320 --> 0:14:26.760
<v Speaker 1>I kind of kept my private life separate. Um, people

0:14:26.800 --> 0:14:30.040
<v Speaker 1>didn't really see a whole glimpse of, you know, what

0:14:30.040 --> 0:14:32.760
<v Speaker 1>what life is like. But that was intentional. Right, Yeah,

0:14:32.800 --> 0:14:36.720
<v Speaker 1>you're absolutely absolutely And now you know, I'm I'm sharing

0:14:37.000 --> 0:14:40.040
<v Speaker 1>a little bit more. I've got some nieces I kind

0:14:40.040 --> 0:14:43.320
<v Speaker 1>of post them and um, but yeah, it's if you

0:14:43.400 --> 0:14:45.920
<v Speaker 1>know what I'm thinking, and we're thinking politics and we're

0:14:45.920 --> 0:14:48.520
<v Speaker 1>thinking with the Olympics, like this has been a tricky,

0:14:48.680 --> 0:14:52.320
<v Speaker 1>very tricky game I think for athletes, and I just think,

0:14:52.440 --> 0:14:54.720
<v Speaker 1>you know, you guys are are role models. Um, And

0:14:54.760 --> 0:14:58.200
<v Speaker 1>I think increasingly the public fans look to all of

0:14:58.200 --> 0:15:02.160
<v Speaker 1>you and some don't want politics and sports. I think

0:15:02.160 --> 0:15:04.840
<v Speaker 1>they think it's a break, but others expected. So I

0:15:04.880 --> 0:15:06.960
<v Speaker 1>just wonder how you manage that. Yeah, I try to

0:15:07.000 --> 0:15:10.040
<v Speaker 1>stay positive. I think that's that's the most important thing

0:15:10.080 --> 0:15:13.400
<v Speaker 1>for me, is just living a very authentic, positive life,

0:15:14.040 --> 0:15:19.400
<v Speaker 1>shedding light on different failures success. Um, how hard it

0:15:19.480 --> 0:15:21.960
<v Speaker 1>is to be the best at something in the world.

0:15:21.960 --> 0:15:24.400
<v Speaker 1>And that's what I want my message to be. Just

0:15:24.440 --> 0:15:25.960
<v Speaker 1>in the last minute that we have with you. What

0:15:26.040 --> 0:15:28.160
<v Speaker 1>can your fans expect from you in this next phase

0:15:28.200 --> 0:15:30.840
<v Speaker 1>of your career? You know, this next phase, I'm going

0:15:30.920 --> 0:15:32.920
<v Speaker 1>to continue to build my brand. I I run my

0:15:32.920 --> 0:15:37.920
<v Speaker 1>own Seal ten uh soccer clinics. UM, my husband started

0:15:37.960 --> 0:15:42.160
<v Speaker 1>my merchandise store online that um, you know, we're we're

0:15:42.200 --> 0:15:44.840
<v Speaker 1>continuing to build up and I don't know, you know,

0:15:44.960 --> 0:15:49.360
<v Speaker 1>ownerships of teams is kind of enticing to me. Staying

0:15:49.360 --> 0:15:52.600
<v Speaker 1>involved with the game, you know, part of FIFA, part

0:15:52.600 --> 0:15:55.960
<v Speaker 1>of US Soccer, men and Women's World Cup. So I'm

0:15:56.000 --> 0:15:58.840
<v Speaker 1>definitely leaving the game on the fields, but off the field,

0:15:59.040 --> 0:16:01.680
<v Speaker 1>I'm going to remain, uh, you know, heavily involved. I

0:16:01.720 --> 0:16:05.320
<v Speaker 1>like Carly Lloyd team owner. That sounds kind of nice. Carly,

0:16:05.400 --> 0:16:07.560
<v Speaker 1>Thank you so much. Good luck with it. This is

0:16:07.600 --> 0:16:11.520
<v Speaker 1>Bloomberg Business Week with Carol Messer and Bloomberg Quick Takes

0:16:11.640 --> 0:16:15.760
<v Speaker 1>Tim Stinovic on Bloomberg Radio, Data and sports playing a

0:16:15.800 --> 0:16:18.400
<v Speaker 1>bigger role in how sports content is being delivered today,

0:16:18.400 --> 0:16:21.960
<v Speaker 1>increasingly giving fans a much more customized experience. So with

0:16:21.960 --> 0:16:24.000
<v Speaker 1>more on this, let's bring in Nagy Good. He's former

0:16:24.080 --> 0:16:27.040
<v Speaker 1>NFL linebacker played for the Buccaneers, the Eagles, the Colts,

0:16:27.040 --> 0:16:29.520
<v Speaker 1>the Jaguars, winning a Super Bowl ring. When playing with

0:16:29.520 --> 0:16:31.960
<v Speaker 1>the Eagles and Super Bowl fifty two, Tim and I

0:16:32.000 --> 0:16:34.880
<v Speaker 1>were like, just okay, so I gotta tell you just

0:16:35.040 --> 0:16:36.920
<v Speaker 1>you know, during the break, I saw this ring. I

0:16:36.960 --> 0:16:40.760
<v Speaker 1>saw this ring. Nagi actually let me hold his Super

0:16:40.760 --> 0:16:43.360
<v Speaker 1>Bowl ring. I've never seen one in the flesh before.

0:16:43.520 --> 0:16:46.400
<v Speaker 1>Thank you for that. Thank you. By the way, that

0:16:46.440 --> 0:16:49.480
<v Speaker 1>thing is big, Hey, bring some energy. It really does,

0:16:49.640 --> 0:16:51.640
<v Speaker 1>it definitely does. We should point out you're also co

0:16:51.680 --> 0:16:53.920
<v Speaker 1>founder in chief of fan engagement at vp oh. It's

0:16:53.920 --> 0:16:57.640
<v Speaker 1>a social platform brands, advertisers to connect with things. How

0:16:57.680 --> 0:17:02.600
<v Speaker 1>are you phenomenal? Well? How tell us abtructive? We have

0:17:02.720 --> 0:17:05.560
<v Speaker 1>been UM working together right now, still continuing to build

0:17:05.640 --> 0:17:08.160
<v Speaker 1>vp O and UM. We have a really big initiative

0:17:08.320 --> 0:17:10.359
<v Speaker 1>right now with h B c U s UM actually

0:17:10.359 --> 0:17:13.160
<v Speaker 1>have a closer relationship of HBCUs. My brother went there

0:17:13.680 --> 0:17:16.919
<v Speaker 1>and play with guys like Darius Leonard. Um played against

0:17:17.000 --> 0:17:20.680
<v Speaker 1>guys like Justin Durant. And right now we have initiative

0:17:20.760 --> 0:17:26.399
<v Speaker 1>to establish ownership of data and empowerment as data through campaigns,

0:17:26.400 --> 0:17:29.440
<v Speaker 1>through sponsorships, through traditional forms of media and advertisement with

0:17:29.480 --> 0:17:33.760
<v Speaker 1>our new technology capability, I feel like ownership of data. Yes,

0:17:33.960 --> 0:17:35.639
<v Speaker 1>that is like the big cahuna. I feel like in

0:17:35.680 --> 0:17:37.359
<v Speaker 1>the world right because there's so much out there? How

0:17:37.359 --> 0:17:39.520
<v Speaker 1>do you do that? Because there's the I mean you're

0:17:39.520 --> 0:17:41.920
<v Speaker 1>gonna have to pull from other sources, right yeah, well

0:17:42.240 --> 0:17:45.199
<v Speaker 1>not necessarily. Our Our tour, which is nice is that

0:17:45.280 --> 0:17:48.760
<v Speaker 1>we are additive. UM. It's why the Eagles joined them

0:17:48.760 --> 0:17:51.280
<v Speaker 1>with this. Jeffrey very equity owner and we partner with

0:17:51.320 --> 0:17:53.840
<v Speaker 1>a few teams because what we do is all additive.

0:17:53.920 --> 0:17:56.080
<v Speaker 1>We take with the fans and the users like to

0:17:56.119 --> 0:17:59.320
<v Speaker 1>see and we show them more and in the ownership

0:17:59.359 --> 0:18:03.119
<v Speaker 1>of data and the sponsors participating with marketing marketing, influencers

0:18:03.119 --> 0:18:06.120
<v Speaker 1>and influencer marketing with the players, we give them them

0:18:06.119 --> 0:18:08.400
<v Speaker 1>the ability to see that data. So you have our tool,

0:18:08.400 --> 0:18:10.080
<v Speaker 1>You're able to see that data, You're able to see

0:18:10.119 --> 0:18:13.320
<v Speaker 1>those interactions, and it empowers the player to put out

0:18:13.320 --> 0:18:16.679
<v Speaker 1>better content with the team and the strategically aligns every organization.

0:18:17.040 --> 0:18:20.000
<v Speaker 1>What's the problem that the VPO saw that needed to

0:18:20.000 --> 0:18:21.840
<v Speaker 1>be solved. What was the white space there that hadn't

0:18:21.840 --> 0:18:24.920
<v Speaker 1>been filled yet? Yeah, So Jonathan A. Mecca and nin Grant,

0:18:25.000 --> 0:18:28.600
<v Speaker 1>our partners, we saw a space in sports to where

0:18:29.280 --> 0:18:32.919
<v Speaker 1>athletes were put on this platform to speak out and

0:18:33.040 --> 0:18:36.120
<v Speaker 1>to engage with people, but they didn't understand what they

0:18:36.119 --> 0:18:37.880
<v Speaker 1>were doing. They didn't understand the reach of that. Which

0:18:37.880 --> 0:18:42.360
<v Speaker 1>platform social media? Any platform, We're talking Instagram, We're talking Twitter, yes,

0:18:42.440 --> 0:18:45.120
<v Speaker 1>book and talking to any platforms. I mean we even

0:18:45.119 --> 0:18:46.680
<v Speaker 1>talked about that, Like we do a lot of stuff,

0:18:46.680 --> 0:18:48.040
<v Speaker 1>but it's like you're always trying to find out like

0:18:48.080 --> 0:18:50.360
<v Speaker 1>what's the most productive way to do it exactly. And

0:18:50.400 --> 0:18:52.720
<v Speaker 1>the one thing that we see on platform the platform

0:18:52.800 --> 0:18:55.560
<v Speaker 1>with especially like what HBC used the resources of things

0:18:55.640 --> 0:18:58.320
<v Speaker 1>they need um in the sports in general, where we

0:18:58.359 --> 0:19:01.440
<v Speaker 1>saw VPO solving a big problem them was we connect

0:19:01.800 --> 0:19:06.160
<v Speaker 1>every user to every entity and monetize all the possible

0:19:06.200 --> 0:19:08.399
<v Speaker 1>futures that what they do in digital sports and media,

0:19:09.119 --> 0:19:12.480
<v Speaker 1>so would help an athlete understand Okay, well if they

0:19:12.520 --> 0:19:15.520
<v Speaker 1>post this on TikTok, it has a reach like this

0:19:15.640 --> 0:19:19.959
<v Speaker 1>and monetization possibility like this versus Instagram versus you know, Twitter.

0:19:20.280 --> 0:19:22.480
<v Speaker 1>So the best thing about our technology is that you

0:19:22.520 --> 0:19:25.000
<v Speaker 1>can see it on every platform. So we integrated right

0:19:25.000 --> 0:19:27.679
<v Speaker 1>now with Team Mobile laps and we're integrated with sports

0:19:27.720 --> 0:19:30.280
<v Speaker 1>leagues where everyone are the mobile apps playing ball with you.

0:19:31.520 --> 0:19:34.119
<v Speaker 1>They're trying to write because you know, because you know,

0:19:34.400 --> 0:19:37.880
<v Speaker 1>their data is their data, and that's so valuable to them,

0:19:37.920 --> 0:19:40.000
<v Speaker 1>so they want to choose what they actually hold on

0:19:40.040 --> 0:19:42.000
<v Speaker 1>too and what they actually show yes, and this is

0:19:42.040 --> 0:19:44.600
<v Speaker 1>why this is why VPO has been additive, because not

0:19:44.680 --> 0:19:46.960
<v Speaker 1>only do they see that, but they also see additional

0:19:47.040 --> 0:19:49.800
<v Speaker 1>data of when a user of fan interacts specifically with

0:19:49.960 --> 0:19:53.800
<v Speaker 1>an influencer so very important, you know right now, especially

0:19:53.880 --> 0:19:57.600
<v Speaker 1>with women's sports and the actual accountability of what what

0:19:57.840 --> 0:20:00.879
<v Speaker 1>athletes are doing in social media. Um, the cool thing

0:20:00.920 --> 0:20:02.919
<v Speaker 1>about what we can do is that we can actually

0:20:02.960 --> 0:20:05.120
<v Speaker 1>monetize and we can pull in those fans that they

0:20:05.160 --> 0:20:07.920
<v Speaker 1>engage with, you know, whether it's the one person from

0:20:07.920 --> 0:20:10.320
<v Speaker 1>your hometown or if it's a million fans around the world.

0:20:10.320 --> 0:20:12.199
<v Speaker 1>And you talk about sports like the Olympics, you talk

0:20:12.240 --> 0:20:17.200
<v Speaker 1>about you know, unconventional sports, gymnastics obviously everybody knows it

0:20:17.240 --> 0:20:21.359
<v Speaker 1>wasn't unconventional. Take that personal. I'm just kidding, where's your

0:20:21.359 --> 0:20:23.320
<v Speaker 1>super Bowl right right now? I don't have fun I

0:20:23.320 --> 0:20:27.240
<v Speaker 1>don't have my go ahead. But yes, yes, yes, and

0:20:27.320 --> 0:20:30.280
<v Speaker 1>we you know the fact that we can actually allow

0:20:30.720 --> 0:20:33.320
<v Speaker 1>the enable the capabilities of a user to interact and

0:20:33.359 --> 0:20:36.400
<v Speaker 1>engage righting in and there and actually find out more information,

0:20:36.480 --> 0:20:41.280
<v Speaker 1>more data or a purchase a link to additional information

0:20:41.520 --> 0:20:44.200
<v Speaker 1>and one fans actually see that no one loves pop ups,

0:20:44.560 --> 0:20:47.280
<v Speaker 1>No one likes pop ups. Our technology is seamless, and

0:20:47.440 --> 0:20:50.280
<v Speaker 1>we can actually integrate this with video, which is really

0:20:50.320 --> 0:20:52.800
<v Speaker 1>really compelling because you watch a sport. How many times

0:20:52.800 --> 0:20:54.679
<v Speaker 1>do you watch a game and you said, I like

0:20:54.760 --> 0:20:57.000
<v Speaker 1>what that guy has on or right now. The NFL

0:20:57.040 --> 0:21:00.000
<v Speaker 1>does a phenomenal job. Is they take pictures of everybody.

0:21:00.040 --> 0:21:02.160
<v Speaker 1>You're walking through the pregame tunnel. I try to wear

0:21:02.200 --> 0:21:04.080
<v Speaker 1>my pre game outfit. This is when I picked off

0:21:04.119 --> 0:21:06.360
<v Speaker 1>Tom Brady. You know, shouts out to the go look

0:21:06.480 --> 0:21:11.639
<v Speaker 1>pretty good Thursday night football. But uh yeah, you know,

0:21:11.640 --> 0:21:15.359
<v Speaker 1>you take you take different engaging Yes, and it works

0:21:15.440 --> 0:21:17.639
<v Speaker 1>and and you actually get the engagement fan from what

0:21:17.640 --> 0:21:20.240
<v Speaker 1>we call a pool instead of a push, and um,

0:21:20.240 --> 0:21:23.040
<v Speaker 1>it's been really compelling and um, everybody likes to see

0:21:23.080 --> 0:21:25.280
<v Speaker 1>what more, what they like to see more of what's

0:21:25.280 --> 0:21:27.320
<v Speaker 1>been the growth of the platform? Oh, the growth of

0:21:27.359 --> 0:21:30.600
<v Speaker 1>the platform has been huge. Um, We've grown the fan

0:21:30.640 --> 0:21:33.200
<v Speaker 1>base and audience and the engagement of the audience and

0:21:33.359 --> 0:21:37.160
<v Speaker 1>the the Jaguars are actually number one most time spent

0:21:37.240 --> 0:21:39.520
<v Speaker 1>on site with our technology capabilities because we were able

0:21:39.560 --> 0:21:42.400
<v Speaker 1>to link every fan, every draft pick. We were able

0:21:42.440 --> 0:21:44.560
<v Speaker 1>to link the new era hats that they had and

0:21:44.640 --> 0:21:46.720
<v Speaker 1>the story of the player. How many guys do you

0:21:46.760 --> 0:21:48.240
<v Speaker 1>come into the league you don't know the stories of

0:21:48.320 --> 0:21:51.520
<v Speaker 1>the players. We're able to link their personal stories via Twitter,

0:21:51.680 --> 0:21:54.800
<v Speaker 1>via Instagram to that direct photo or video, So why

0:21:54.800 --> 0:21:57.080
<v Speaker 1>are you looking at that player? Get to find out

0:21:57.080 --> 0:21:59.520
<v Speaker 1>more information about what he's about, what he stands for.

0:22:00.040 --> 0:22:01.879
<v Speaker 1>My cleats my Cause is a big initiative that we

0:22:01.920 --> 0:22:04.440
<v Speaker 1>want to get into this year with having the ability

0:22:04.480 --> 0:22:07.320
<v Speaker 1>to directly link from team content to auction off cleeks

0:22:07.359 --> 0:22:10.720
<v Speaker 1>for causes charities Loopus, breast cancer awareness, stuff like that.

0:22:11.280 --> 0:22:13.960
<v Speaker 1>And then for the initiative for hbc use, UM, we

0:22:14.040 --> 0:22:16.280
<v Speaker 1>see the gap that you know has been you know

0:22:16.440 --> 0:22:20.199
<v Speaker 1>forwarded to the opportunities that haven't been forwarded to him

0:22:20.240 --> 0:22:22.760
<v Speaker 1>and the resources that can be there. And by giving

0:22:22.880 --> 0:22:26.880
<v Speaker 1>the HBCUs are really leg up in the African American community,

0:22:26.920 --> 0:22:29.800
<v Speaker 1>we can give them the opportunity to ownership data. Talk

0:22:29.840 --> 0:22:31.879
<v Speaker 1>to us about that. I do feel like with with

0:22:31.960 --> 0:22:34.760
<v Speaker 1>Brian flores Is lawsuit and stuff, we're just talking about

0:22:34.800 --> 0:22:36.600
<v Speaker 1>a lot of people coming out and talking about the

0:22:36.720 --> 0:22:41.560
<v Speaker 1>lack of diversity within the NFL, specifically, UM, racism. What's

0:22:41.600 --> 0:22:43.320
<v Speaker 1>been your experience and what are your thoughts on this?

0:22:43.480 --> 0:22:45.880
<v Speaker 1>So my personal experience, UM, I am legacy, So I've

0:22:45.920 --> 0:22:48.439
<v Speaker 1>had the privilege of understanding the game from my father's

0:22:48.440 --> 0:22:50.880
<v Speaker 1>standpoint of view. UM, he was an Eagle as well,

0:22:50.920 --> 0:22:53.200
<v Speaker 1>so it was pretty cool to be in that same environment.

0:22:53.640 --> 0:22:55.280
<v Speaker 1>And um, I think the game does need to be

0:22:55.280 --> 0:22:58.240
<v Speaker 1>more diverse. I'm from the standpoint of, you know, where

0:22:58.280 --> 0:23:00.040
<v Speaker 1>all the family, the locker room is one of the

0:23:00.040 --> 0:23:04.400
<v Speaker 1>most diverse things. We've always had exceptional conversations no matter

0:23:04.400 --> 0:23:06.080
<v Speaker 1>where they are. I mean, there's guys on our team,

0:23:06.160 --> 0:23:08.639
<v Speaker 1>I play with, you know, America, Sutamas, I've played with

0:23:08.720 --> 0:23:12.000
<v Speaker 1>white plaque. Um, you know, and the fact that that

0:23:12.080 --> 0:23:14.760
<v Speaker 1>diversity needs to be seen more. It can be seen

0:23:14.800 --> 0:23:17.560
<v Speaker 1>more at a coaching at a front office level, and

0:23:17.600 --> 0:23:19.320
<v Speaker 1>I think that the NFL is doing a good job

0:23:19.320 --> 0:23:22.680
<v Speaker 1>of trying to integrate it. But certain things that is

0:23:22.680 --> 0:23:24.640
<v Speaker 1>doing a good job. So you think about the lack

0:23:24.840 --> 0:23:30.240
<v Speaker 1>of you know, black coaches, coaches, black owners, black owners,

0:23:30.280 --> 0:23:33.200
<v Speaker 1>black owners, black coaches. You know, there's needs to be more.

0:23:33.800 --> 0:23:35.679
<v Speaker 1>There needs to be more. There needs to be diversity

0:23:35.960 --> 0:23:39.600
<v Speaker 1>because seventy percent of our athletes are you know, sitting

0:23:39.600 --> 0:23:42.960
<v Speaker 1>in my same situation, are same ethnicity. And I think

0:23:43.000 --> 0:23:45.800
<v Speaker 1>that the NFL is doing a better job at trying

0:23:45.840 --> 0:23:48.600
<v Speaker 1>to push towards the initiative. Is it happening, not as

0:23:48.640 --> 0:23:50.880
<v Speaker 1>fast as we wanted to, But I think that as

0:23:50.880 --> 0:23:53.120
<v Speaker 1>the game continues to grow. I think that these things

0:23:53.119 --> 0:23:55.560
<v Speaker 1>will naturally happen and is where we're excited with VPO

0:23:55.720 --> 0:23:59.159
<v Speaker 1>because the world is becoming digital and the stories that

0:23:59.200 --> 0:24:01.200
<v Speaker 1>need to be told from the platforms. What we can

0:24:01.200 --> 0:24:04.040
<v Speaker 1>do to add to the interactions from a diverse group

0:24:04.040 --> 0:24:06.720
<v Speaker 1>of fans. You can make it diverse, right automatically on

0:24:06.760 --> 0:24:09.000
<v Speaker 1>that platform, make it diverse. And really we can give

0:24:09.080 --> 0:24:11.359
<v Speaker 1>resources and tools to the h b c U s

0:24:11.400 --> 0:24:13.000
<v Speaker 1>and to the guys. Like I said, my brother went

0:24:13.080 --> 0:24:15.800
<v Speaker 1>to HBCU. It was really intriguing to go to West

0:24:15.880 --> 0:24:18.199
<v Speaker 1>Virginia while he was going to HBCU because if we

0:24:18.280 --> 0:24:20.840
<v Speaker 1>used to have the arguments and like, oh I get this,

0:24:20.920 --> 0:24:23.000
<v Speaker 1>I get that, and you know, I got to really

0:24:23.040 --> 0:24:25.680
<v Speaker 1>see My brother came out. He graduated a couple of

0:24:25.760 --> 0:24:28.600
<v Speaker 1>years before I did. With Kendall Lankford justin Durant, guys

0:24:28.640 --> 0:24:31.560
<v Speaker 1>that played for a long time. The talent is there now,

0:24:31.680 --> 0:24:34.080
<v Speaker 1>the reaches where we're talking about what the NFL needs

0:24:34.080 --> 0:24:35.720
<v Speaker 1>to do a better job up and they've stepped up.

0:24:35.720 --> 0:24:38.400
<v Speaker 1>They've done the hbc U combine. But I really think

0:24:38.440 --> 0:24:40.680
<v Speaker 1>that having tools like what we have and then actually

0:24:41.000 --> 0:24:44.879
<v Speaker 1>exposing more people, it definitely helps really quick. Bengals are

0:24:44.920 --> 0:24:50.080
<v Speaker 1>rams really really quick. I love the rams D line,

0:24:50.119 --> 0:24:51.560
<v Speaker 1>so that's why I think they'll win. But I'm a

0:24:51.600 --> 0:24:54.520
<v Speaker 1>Bengals Joe Burrow, Ohio. Yeah, all right, there we go

0:24:55.480 --> 0:24:58.159
<v Speaker 1>on the fence. Answer if I ever heard. Thank you

0:24:58.200 --> 0:25:00.639
<v Speaker 1>so much, good luck with everything. So good to see again, NASA.

0:25:00.720 --> 0:25:09.080
<v Speaker 1>Good everybody, Thank you. This is Bloomberg Business Week with

0:25:09.160 --> 0:25:16.159
<v Speaker 1>Carol Messer and Bloomberg Quick Takes Tim Stinovic on Bloomberg Radio.

0:25:16.920 --> 0:25:20.520
<v Speaker 1>Bloomberg Business You're live at the Bloomberg Power Players Summit

0:25:20.560 --> 0:25:23.439
<v Speaker 1>in Beverly Hills. Politics and polarizing issues definitely coming up

0:25:23.440 --> 0:25:25.240
<v Speaker 1>here at the event. It just came up in some

0:25:25.359 --> 0:25:28.399
<v Speaker 1>of our conversation and in keeping with that, in the

0:25:28.400 --> 0:25:30.880
<v Speaker 1>new issue of Bloomberg Business Week, a story about how

0:25:30.960 --> 0:25:34.440
<v Speaker 1>voters are fed up with COVID and turning against present

0:25:34.480 --> 0:25:37.000
<v Speaker 1>buying the Democrat. Yeah, it's a story bout Josh Green,

0:25:37.119 --> 0:25:40.320
<v Speaker 1>national correspondent for Bloomberg Business Week. He joins us right

0:25:40.359 --> 0:25:42.640
<v Speaker 1>now live on the phone from Washington, d C. Joel

0:25:42.640 --> 0:25:45.320
<v Speaker 1>Weber eder It. Bloomberg Business Week is on the access

0:25:45.359 --> 0:25:47.879
<v Speaker 1>line from Brooklyn. Joel, I gotta tell you over the

0:25:47.960 --> 0:25:50.119
<v Speaker 1>last week or so it has felt like there's been

0:25:50.119 --> 0:25:52.800
<v Speaker 1>a sea change at least when it comes to policy

0:25:52.840 --> 0:25:57.679
<v Speaker 1>decisions by states around the country for masking for mandates,

0:25:57.920 --> 0:26:01.199
<v Speaker 1>and it follows I think serious for rustration from voters

0:26:01.280 --> 0:26:05.679
<v Speaker 1>Democrats and Republicans alike. Yeah, this was it felt like

0:26:05.800 --> 0:26:10.560
<v Speaker 1>the week that everything really changed and and uh it

0:26:10.640 --> 0:26:13.119
<v Speaker 1>felt like for me that like an individual level, but

0:26:13.160 --> 0:26:17.359
<v Speaker 1>then backdrop was the country and uh, you know, democratic

0:26:17.440 --> 0:26:20.560
<v Speaker 1>state after Democrats states sort of walking back some of

0:26:20.600 --> 0:26:24.240
<v Speaker 1>the mass restrictions, UM, and it signaled something else that

0:26:24.280 --> 0:26:26.960
<v Speaker 1>I thought was really important. And Josh basically made this

0:26:27.000 --> 0:26:31.040
<v Speaker 1>the heart of the story, which is, despite those those rollbacks, Uh,

0:26:31.600 --> 0:26:35.320
<v Speaker 1>the Biden administration is still kind of in this and

0:26:35.359 --> 0:26:38.160
<v Speaker 1>he quotes somebody who said this in this emergency mode

0:26:38.560 --> 0:26:41.720
<v Speaker 1>while the public is sort of ready to move on UM.

0:26:41.800 --> 0:26:45.679
<v Speaker 1>And as Josh lays out, this will have potentially huge,

0:26:46.040 --> 0:26:49.240
<v Speaker 1>huge implications for mid terms. And that was he wrote

0:26:49.280 --> 0:26:52.480
<v Speaker 1>this when we published it, And and then the inflation numbers,

0:26:52.520 --> 0:26:55.399
<v Speaker 1>the CPI stuff came out yesterday, which obviously a different

0:26:55.400 --> 0:26:57.840
<v Speaker 1>topic but but also not good for the Biden camp.

0:26:58.119 --> 0:26:59.879
<v Speaker 1>So so Josh talked to us more about that, just

0:27:00.000 --> 0:27:02.959
<v Speaker 1>severity between what what the Biden administration wants to do

0:27:03.440 --> 0:27:07.120
<v Speaker 1>versus what the where the public's heart is that? Yeah,

0:27:07.200 --> 0:27:09.480
<v Speaker 1>you know, I think what's interesting is that when Biden

0:27:09.520 --> 0:27:13.040
<v Speaker 1>got elected and came in initially, he got a lot

0:27:13.119 --> 0:27:17.560
<v Speaker 1>of favorable responses and public polls because he was so

0:27:17.640 --> 0:27:21.439
<v Speaker 1>rigoroated about about COVID restrictions, UH and trying to contain

0:27:21.480 --> 0:27:25.280
<v Speaker 1>the virus um, you know, it, to differentiate himself, I

0:27:25.280 --> 0:27:27.920
<v Speaker 1>think from Donald Trump and his presidency. And yet what's

0:27:27.920 --> 0:27:31.240
<v Speaker 1>happened over the last year or so is the public

0:27:31.240 --> 0:27:34.440
<v Speaker 1>opinions has shifted, and especially in the last couple of weeks,

0:27:34.440 --> 0:27:39.480
<v Speaker 1>shifted really dramatically on COVID against the idea that people

0:27:39.560 --> 0:27:43.960
<v Speaker 1>want to continue with these strict masks and vaccine mandates, um,

0:27:44.000 --> 0:27:47.280
<v Speaker 1>the sort of things that have really dominated American life

0:27:47.320 --> 0:27:50.760
<v Speaker 1>over the last year and a half. Um. What's interesting

0:27:50.840 --> 0:27:53.600
<v Speaker 1>is that if you look at public opinion and and

0:27:53.600 --> 0:27:56.040
<v Speaker 1>and pulling cross tabs, you can see the shift across

0:27:56.119 --> 0:27:59.480
<v Speaker 1>all groups. It's not just Republicans, it's not just anti bactors,

0:27:59.760 --> 0:28:02.400
<v Speaker 1>and everybody sort of arrived at the same point. And yet,

0:28:02.440 --> 0:28:04.800
<v Speaker 1>as you point out, Joel, the Biden White House is

0:28:04.840 --> 0:28:09.720
<v Speaker 1>still sort of stuck in uh. In April one doesn't

0:28:09.760 --> 0:28:11.760
<v Speaker 1>want to have to move. And there was literally a

0:28:11.800 --> 0:28:15.960
<v Speaker 1>rebellion this week by five or six Democratic governors who said,

0:28:16.040 --> 0:28:18.000
<v Speaker 1>you know what, if the White House isn't gonna lead

0:28:18.040 --> 0:28:19.879
<v Speaker 1>on this, we're just gonna go ahead on our own

0:28:20.240 --> 0:28:25.240
<v Speaker 1>and begin removing some of these mask mandates, which started

0:28:25.240 --> 0:28:28.760
<v Speaker 1>to happen. Yeah, yeah, I was gonna say that that

0:28:28.840 --> 0:28:31.920
<v Speaker 1>started to happen, Josh. And and now we've got some

0:28:31.920 --> 0:28:35.040
<v Speaker 1>some drumbeats about Ukraine in the background. The other thing

0:28:35.080 --> 0:28:37.639
<v Speaker 1>that I was just wondering about, we have a moment

0:28:37.680 --> 0:28:40.080
<v Speaker 1>here in the not so distant future where Biden will

0:28:40.160 --> 0:28:42.680
<v Speaker 1>have a State of the Union that that would happen

0:28:42.720 --> 0:28:45.520
<v Speaker 1>on on on March one. Do you think he waits

0:28:45.920 --> 0:28:48.200
<v Speaker 1>that he can wait that long before he addresses it,

0:28:48.560 --> 0:28:50.760
<v Speaker 1>or or do you think that there's something that has

0:28:50.800 --> 0:28:53.840
<v Speaker 1>to happen more immediately. You know, I really don't think

0:28:53.840 --> 0:28:55.640
<v Speaker 1>he can't. It was funny when I started doing reporting

0:28:55.640 --> 0:28:57.360
<v Speaker 1>for this piece about a week ago, none of this

0:28:57.440 --> 0:29:00.000
<v Speaker 1>had really exploded yet, and a couple of people up

0:29:00.000 --> 0:29:03.480
<v Speaker 1>on Capitol Hill, Republicans and Democrats, pointed to the March

0:29:03.560 --> 0:29:06.720
<v Speaker 1>first State of the Union as potentially a pivotal moment

0:29:06.760 --> 0:29:08.360
<v Speaker 1>because they said, you know, he's going to get out

0:29:08.400 --> 0:29:10.719
<v Speaker 1>there Biden is and try and claim that things are

0:29:10.720 --> 0:29:13.360
<v Speaker 1>going in the right direction. But if he's speaking to

0:29:13.520 --> 0:29:17.080
<v Speaker 1>a half empty chamber, uh, and everybody's wearing a mask,

0:29:17.120 --> 0:29:18.800
<v Speaker 1>it's really gonna be hard to sort of push the

0:29:18.840 --> 0:29:21.960
<v Speaker 1>idea that things are going back to normal. Um. And

0:29:22.000 --> 0:29:23.920
<v Speaker 1>as I said earlier, it's clear and clear that people

0:29:23.920 --> 0:29:27.400
<v Speaker 1>want them to. I don't really think that that that's

0:29:27.440 --> 0:29:30.360
<v Speaker 1>gonna be feasible for Biden to sort of continue on

0:29:30.400 --> 0:29:34.240
<v Speaker 1>this path when prominent members of his own party are

0:29:34.280 --> 0:29:37.120
<v Speaker 1>breaking with his administration and breaking with his stance and

0:29:37.160 --> 0:29:40.560
<v Speaker 1>the CDC stance on the virus and saying, listen, you know,

0:29:40.600 --> 0:29:43.239
<v Speaker 1>we can see this omicron way of going away. Uh.

0:29:43.640 --> 0:29:46.240
<v Speaker 1>We're listening to voters here who are fed up with

0:29:46.320 --> 0:29:49.120
<v Speaker 1>the ever changing rules and the school closures. You know,

0:29:49.160 --> 0:29:53.920
<v Speaker 1>we're gonna begin to learn to accept life with endemic

0:29:53.960 --> 0:29:56.640
<v Speaker 1>COVID and kind of do the best we can adjusting

0:29:56.680 --> 0:29:59.040
<v Speaker 1>to that going forward. I think this is gonna be

0:29:59.520 --> 0:30:03.800
<v Speaker 1>a case where the buying administration follows rather than leads,

0:30:04.640 --> 0:30:08.240
<v Speaker 1>on whatever the United States is evolving. COVID policy winds

0:30:08.320 --> 0:30:11.440
<v Speaker 1>up being over the next couple of weeks. I do

0:30:11.560 --> 0:30:15.440
<v Speaker 1>wonder to um, Josh, does it matter who was in

0:30:15.440 --> 0:30:17.800
<v Speaker 1>the White House that if we were still in this, well,

0:30:17.880 --> 0:30:20.840
<v Speaker 1>we are still in this situation it was a Republican president,

0:30:20.880 --> 0:30:24.120
<v Speaker 1>if it was just a different situation, that the public

0:30:24.200 --> 0:30:27.360
<v Speaker 1>would be turney against the administration no matter what, because

0:30:27.400 --> 0:30:31.959
<v Speaker 1>they're just tired of this. You know, it's it's possible.

0:30:32.080 --> 0:30:35.640
<v Speaker 1>But I mean Republicans all along have been more cavalier

0:30:35.880 --> 0:30:40.040
<v Speaker 1>and less willing to um, you know, comply with with

0:30:40.200 --> 0:30:43.200
<v Speaker 1>mask and vaccine mandates. I think what's so striking about

0:30:43.240 --> 0:30:45.240
<v Speaker 1>what's just happened over the last week or so is

0:30:45.280 --> 0:30:49.680
<v Speaker 1>that these are by and large democratic governors moving against

0:30:49.760 --> 0:30:52.240
<v Speaker 1>the Democratic White House. I think it's less an issue

0:30:52.440 --> 0:30:57.000
<v Speaker 1>of partisan ideology and more a matter of Look, these

0:30:57.000 --> 0:30:59.480
<v Speaker 1>are politicians, and they listen to voters in their district.

0:30:59.720 --> 0:31:02.680
<v Speaker 1>And you know, any parent of a kada twelve students

0:31:02.680 --> 0:31:06.120
<v Speaker 1>who's had to deal with school closures and mask mandates

0:31:06.120 --> 0:31:08.840
<v Speaker 1>for going on two years now, we'll tell you that.

0:31:09.280 --> 0:31:12.000
<v Speaker 1>You know, the system is not working and everybody is

0:31:12.040 --> 0:31:13.520
<v Speaker 1>sort of fed up. I think we kind of hit

0:31:13.560 --> 0:31:17.640
<v Speaker 1>our our collective national boiling point over the last week

0:31:17.760 --> 0:31:20.000
<v Speaker 1>or so, and that's really what we're seeing play out

0:31:20.000 --> 0:31:24.520
<v Speaker 1>in the news right now. So how do you explain then, uh,

0:31:24.720 --> 0:31:28.800
<v Speaker 1>the disparity between the widespread fear Josh that still exists

0:31:28.800 --> 0:31:32.680
<v Speaker 1>with contract with contracting COVID and pushback by those same people.

0:31:33.760 --> 0:31:35.280
<v Speaker 1>You know, it's it's a great question because if you

0:31:35.280 --> 0:31:37.280
<v Speaker 1>look at these public pull numbers, as you said, you know,

0:31:37.360 --> 0:31:39.719
<v Speaker 1>fully half of people are still afraid of getting COVID.

0:31:40.160 --> 0:31:42.840
<v Speaker 1>What's changed when when I when I speak to polsters,

0:31:43.040 --> 0:31:47.560
<v Speaker 1>is that vaccinated America has sort of grudgingly recognized that

0:31:47.640 --> 0:31:50.000
<v Speaker 1>there is going to be a core segment of people

0:31:50.040 --> 0:31:53.280
<v Speaker 1>who refuse to get the vaccine um that's large enough

0:31:53.320 --> 0:31:56.160
<v Speaker 1>that we're really never going to eliminate COVID. It's it's

0:31:56.160 --> 0:31:58.120
<v Speaker 1>going to be an ongoing presence in our lives in

0:31:58.160 --> 0:32:01.320
<v Speaker 1>some way shape with him. And so, you know, in

0:32:01.360 --> 0:32:03.680
<v Speaker 1>a way, you could say the anti bactors have kind

0:32:03.680 --> 0:32:06.360
<v Speaker 1>of won that stair down, and so what a majority

0:32:06.400 --> 0:32:09.400
<v Speaker 1>of Americans wanted to I would move on find the

0:32:09.440 --> 0:32:13.720
<v Speaker 1>best way to live with COVID and sort of remove

0:32:13.760 --> 0:32:17.040
<v Speaker 1>a lot of these emergency provisions and lockdowns and find

0:32:17.040 --> 0:32:21.680
<v Speaker 1>a way to normalize American life al right, guys, thank

0:32:21.720 --> 0:32:23.680
<v Speaker 1>you so much. Really appreciate it and check it out

0:32:23.680 --> 0:32:26.480
<v Speaker 1>of the new issue. Joshua Green along with the editor

0:32:26.480 --> 0:32:30.040
<v Speaker 1>of Business Week, Jill Webber. You're listening to Bloomberg Business

0:32:30.040 --> 0:32:33.880
<v Speaker 1>Week with Carol Messer and Bloomberg Quick Takes Tim Stinovic

0:32:34.360 --> 0:32:37.520
<v Speaker 1>on Bloomberg Radio. We're love at the Power Player's Summit

0:32:37.560 --> 0:32:39.600
<v Speaker 1>in Beverly Hills, and I've got to say I'm already

0:32:39.640 --> 0:32:42.520
<v Speaker 1>in love with our next guest because he complimented my shoes.

0:32:42.680 --> 0:32:47.040
<v Speaker 1>Like score. Dickerson is in the house. Played eleven seasons

0:32:47.040 --> 0:32:50.240
<v Speaker 1>in the NFL. Uh inducted into the Pro Football Hall

0:32:50.280 --> 0:32:53.400
<v Speaker 1>of Fame. His NFL single season rushing records set back

0:32:53.440 --> 0:32:57.080
<v Speaker 1>in four Still there. He's got a new book act

0:32:57.120 --> 0:33:00.240
<v Speaker 1>called Watch My Smoke, and he's getting ready to be

0:33:00.240 --> 0:33:02.160
<v Speaker 1>part of a panel and n f T. So we've

0:33:02.200 --> 0:33:05.040
<v Speaker 1>got so much to talk about again. Loving the shoe comments.

0:33:05.280 --> 0:33:10.200
<v Speaker 1>I love that you. Seriously, it's not about you. I

0:33:10.240 --> 0:33:11.800
<v Speaker 1>don't know. I didn't be okay, what did you tell

0:33:11.840 --> 0:33:14.040
<v Speaker 1>me that you got? I gotta shoe problem. That's why

0:33:14.040 --> 0:33:16.360
<v Speaker 1>I got a shoe problem until I have like twolfs

0:33:16.640 --> 0:33:19.560
<v Speaker 1>right now, I got I got a problem. How's your

0:33:19.600 --> 0:33:22.440
<v Speaker 1>golf games? It's golf, it's up and down, and so

0:33:22.560 --> 0:33:25.160
<v Speaker 1>let's put it like that. Um, so much to talk about.

0:33:25.400 --> 0:33:26.880
<v Speaker 1>Um we Do you want to talk about your book?

0:33:27.000 --> 0:33:28.320
<v Speaker 1>You must start there. Do you want to talk about

0:33:28.360 --> 0:33:29.480
<v Speaker 1>n F T? Whatever you want to talk about. I

0:33:29.480 --> 0:33:31.000
<v Speaker 1>want to talk about you book because you were signing

0:33:31.080 --> 0:33:33.240
<v Speaker 1>right next to us and people were lining up. Um,

0:33:33.400 --> 0:33:36.760
<v Speaker 1>what did you want to write this? Well, um, you know,

0:33:36.800 --> 0:33:39.040
<v Speaker 1>my kids have always told me that's just such a

0:33:39.080 --> 0:33:41.320
<v Speaker 1>great storytelling. You know what you think, because I can

0:33:41.360 --> 0:33:43.880
<v Speaker 1>think about taking my kids, my my my youngest daughter

0:33:44.200 --> 0:33:47.080
<v Speaker 1>to school, and she said, make up, I want to

0:33:47.120 --> 0:33:48.680
<v Speaker 1>hear a story about a horse. So I make up

0:33:48.680 --> 0:33:50.880
<v Speaker 1>a story like ten minutes about a horse. I want

0:33:50.880 --> 0:33:52.920
<v Speaker 1>to hear a hunted house today, satday, a hunted house,

0:33:53.240 --> 0:33:55.880
<v Speaker 1>you know. And I've just always been great telling stories.

0:33:55.880 --> 0:33:58.320
<v Speaker 1>And my story is so interesting. I didn't you know,

0:33:58.440 --> 0:34:00.360
<v Speaker 1>you didn't never think because it's your story. But everybody

0:34:00.360 --> 0:34:02.760
<v Speaker 1>I know said Eric man, that's such interesting. Your life

0:34:02.800 --> 0:34:05.000
<v Speaker 1>is interesting. And people don't know a lot about your life,

0:34:05.040 --> 0:34:07.160
<v Speaker 1>like a lot of people know. I was legally adopted,

0:34:07.200 --> 0:34:08.759
<v Speaker 1>you know, by my great great hunt. You know, my

0:34:08.800 --> 0:34:11.360
<v Speaker 1>mother had me when she was fifteen and she raised

0:34:11.400 --> 0:34:13.360
<v Speaker 1>my mother also. So it's just a lot in my

0:34:13.480 --> 0:34:15.759
<v Speaker 1>book that that people don't know. They think they know what,

0:34:15.800 --> 0:34:18.880
<v Speaker 1>they really don't know. Why now though, Well, what is

0:34:18.920 --> 0:34:21.200
<v Speaker 1>it about right now in this moment that we're facing,

0:34:21.280 --> 0:34:23.960
<v Speaker 1>not just with sports in the NFL, but as a society. Well,

0:34:24.000 --> 0:34:27.680
<v Speaker 1>you know, we started this book really about fifteen years ago,

0:34:27.840 --> 0:34:29.640
<v Speaker 1>kind of a phase of it. A friend of mine

0:34:29.760 --> 0:34:32.640
<v Speaker 1>was a writer and he did poetry and I you

0:34:33.360 --> 0:34:35.560
<v Speaker 1>and uh he said, okay, man, let me write to me.

0:34:35.560 --> 0:34:36.880
<v Speaker 1>I want to write a book. I said, okay. So

0:34:36.920 --> 0:34:38.360
<v Speaker 1>he's I'm gonna come stay with your month and do

0:34:38.440 --> 0:34:40.600
<v Speaker 1>some drafts. He did some drafts and then kind of

0:34:40.640 --> 0:34:42.080
<v Speaker 1>the middle of it he died. He got killed on

0:34:42.120 --> 0:34:44.680
<v Speaker 1>the fire. So you know, I kind of forgot about it.

0:34:44.719 --> 0:34:47.759
<v Speaker 1>And then later, um, like fifteen years later, my friend

0:34:47.840 --> 0:34:50.279
<v Speaker 1>Gustavo same thing. You know. He started he said, Man,

0:34:50.280 --> 0:34:53.040
<v Speaker 1>if your life is so interesting, I like to, like,

0:34:53.040 --> 0:34:55.480
<v Speaker 1>I want to find your right into a book. I said, okay,

0:34:55.520 --> 0:34:57.200
<v Speaker 1>I said, you know, went through this and like showing

0:34:57.239 --> 0:35:00.560
<v Speaker 1>the drafts I had before and started talking to different writers.

0:35:00.600 --> 0:35:02.759
<v Speaker 1>And I talked to two other writers, and you know,

0:35:02.800 --> 0:35:04.800
<v Speaker 1>I think I think as a person, you want the

0:35:04.840 --> 0:35:06.839
<v Speaker 1>book to sound like you, So I want to forget.

0:35:07.000 --> 0:35:09.040
<v Speaker 1>One guy wrote something and I read it draft and

0:35:09.040 --> 0:35:11.480
<v Speaker 1>I want to and he said one of my words

0:35:11.480 --> 0:35:14.359
<v Speaker 1>are like oh godle I'm like, oh, that's another way

0:35:14.360 --> 0:35:17.319
<v Speaker 1>I signed. That doesn't sound like me. And so then

0:35:17.400 --> 0:35:19.560
<v Speaker 1>a guy you found this guy Greg Handling, and Gregg

0:35:19.640 --> 0:35:21.279
<v Speaker 1>made the book. When I said when I read the

0:35:21.320 --> 0:35:23.279
<v Speaker 1>drapt like, oh this is me. This is sounds just

0:35:23.360 --> 0:35:27.640
<v Speaker 1>like my words. And really, I think because it came later,

0:35:27.719 --> 0:35:29.080
<v Speaker 1>it just came at the right time. I mean, I

0:35:29.120 --> 0:35:30.800
<v Speaker 1>didn't plan on it coming out with all the stuff

0:35:30.800 --> 0:35:32.080
<v Speaker 1>that's going on, right it just came out at the

0:35:32.160 --> 0:35:33.480
<v Speaker 1>right time. And it really did. It wasn't like a

0:35:33.520 --> 0:35:35.279
<v Speaker 1>plan like I'm won't drop it, you know, at this

0:35:35.320 --> 0:35:37.560
<v Speaker 1>time with everything going on, But it just kind of

0:35:37.600 --> 0:35:39.759
<v Speaker 1>worked out like that. You know. I think about and

0:35:39.880 --> 0:35:41.920
<v Speaker 1>I am going to go to racism and diversity and

0:35:41.960 --> 0:35:46.200
<v Speaker 1>inclusion because I think about Black Wall Street. I am Florida,

0:35:46.200 --> 0:35:48.040
<v Speaker 1>and I think a lot of individuals are in this

0:35:48.080 --> 0:35:50.080
<v Speaker 1>country that that has not been a part of our history.

0:35:50.520 --> 0:35:52.840
<v Speaker 1>And you realize you're not telling American history unless you

0:35:52.840 --> 0:35:54.520
<v Speaker 1>tell it all, and you tell it all accurately, and

0:35:54.560 --> 0:35:56.520
<v Speaker 1>it's control, like there's been a lot of control of

0:35:56.560 --> 0:36:00.160
<v Speaker 1>the narrative of so much and incorrectly. So wow, you

0:36:00.200 --> 0:36:01.799
<v Speaker 1>know you say that give me cold chill saying it

0:36:01.840 --> 0:36:04.360
<v Speaker 1>because I know it's true. I mean, And and because

0:36:04.480 --> 0:36:07.120
<v Speaker 1>my table I was born, my mother was born who

0:36:07.200 --> 0:36:09.440
<v Speaker 1>adopted me, was born in nineteen o four. And she

0:36:09.520 --> 0:36:11.480
<v Speaker 1>telled me Eric, he says, she's something you don't You

0:36:11.480 --> 0:36:13.279
<v Speaker 1>don't know the things that I've seen. She said, I've

0:36:13.320 --> 0:36:15.440
<v Speaker 1>seen things that you wouldn't even believe, you know, because

0:36:15.440 --> 0:36:17.160
<v Speaker 1>she was born in that in that in that time.

0:36:17.680 --> 0:36:20.120
<v Speaker 1>And she said, you know, I know the evil things

0:36:20.160 --> 0:36:21.920
<v Speaker 1>that the white man does, you know. And I'm like,

0:36:22.160 --> 0:36:24.239
<v Speaker 1>I was a kid, I've never seen that. So it's

0:36:24.280 --> 0:36:26.239
<v Speaker 1>like she would tell me something like I said that

0:36:26.480 --> 0:36:29.360
<v Speaker 1>that can happen, but it but it really does. And

0:36:29.360 --> 0:36:31.719
<v Speaker 1>and so you know, it's it's it's sad that they

0:36:31.880 --> 0:36:34.359
<v Speaker 1>hide stuff. I'm like, hey, if you're gonna tell it,

0:36:34.640 --> 0:36:38.160
<v Speaker 1>tell the whole story, you know, to that point, tell

0:36:38.200 --> 0:36:40.560
<v Speaker 1>the story of what you saw in the NFL and

0:36:40.560 --> 0:36:42.840
<v Speaker 1>what you experienced in the NFL, or maybe even go

0:36:42.880 --> 0:36:46.160
<v Speaker 1>back earlier in college. You know, I'll go back with me,

0:36:46.239 --> 0:36:48.440
<v Speaker 1>and the media never kind of saw and I just

0:36:48.440 --> 0:36:51.120
<v Speaker 1>started college because you know, as a young kid coming

0:36:51.160 --> 0:36:53.759
<v Speaker 1>out of Seeley, Texas, two thousand people, black kid, I

0:36:53.800 --> 0:36:55.759
<v Speaker 1>was a number one recruiting the whole nation. It was me,

0:36:55.880 --> 0:37:00.960
<v Speaker 1>John Elway and Marino top three and so um I went,

0:37:01.080 --> 0:37:03.560
<v Speaker 1>you know, got got got, I was recruited by everyone.

0:37:03.640 --> 0:37:05.399
<v Speaker 1>Went to s m U and make us long story

0:37:05.440 --> 0:37:06.960
<v Speaker 1>show up. My first year, I struggled. I mean, I

0:37:06.960 --> 0:37:09.240
<v Speaker 1>was a kid, you know, and I from a small town,

0:37:09.640 --> 0:37:10.840
<v Speaker 1>and I don't get the writer of the road that

0:37:10.840 --> 0:37:13.040
<v Speaker 1>they should take my scholarship because I'm a bust. You know.

0:37:13.080 --> 0:37:15.359
<v Speaker 1>I was a bust. And I had my friend Craig James,

0:37:15.400 --> 0:37:17.200
<v Speaker 1>the white kid. He played the biggest school, and he

0:37:17.200 --> 0:37:18.560
<v Speaker 1>was doing better than I was. But I mean that's

0:37:18.560 --> 0:37:20.239
<v Speaker 1>just how it was. I wouldn't I wouldn't really ready

0:37:20.280 --> 0:37:22.600
<v Speaker 1>for college. And so as time went on, I just

0:37:22.640 --> 0:37:24.920
<v Speaker 1>saw kind of things that they would say about me

0:37:24.960 --> 0:37:28.359
<v Speaker 1>that wasn't fair, you know, And when especially when when

0:37:28.440 --> 0:37:30.239
<v Speaker 1>I got to the Rams and and and then I

0:37:30.280 --> 0:37:31.880
<v Speaker 1>got drafted, and you know, I had to some of

0:37:31.880 --> 0:37:34.560
<v Speaker 1>the hold outs, and it wasn't about people think it's

0:37:34.600 --> 0:37:36.840
<v Speaker 1>always about the money. The money. It wasn't about that.

0:37:36.880 --> 0:37:38.880
<v Speaker 1>I just wanted to be treated family. That's what it on.

0:37:39.000 --> 0:37:41.480
<v Speaker 1>It was get example, Elway was the first pick. I

0:37:41.520 --> 0:37:43.960
<v Speaker 1>was the second pick. Always making a million dollars. I'm

0:37:43.960 --> 0:37:46.880
<v Speaker 1>making a hundred fifty thousand. That's kind of that that

0:37:47.000 --> 0:37:49.799
<v Speaker 1>that that that's wrong and and and people, that's why,

0:37:49.840 --> 0:37:51.880
<v Speaker 1>that's why I'm glad I did this book because I

0:37:51.920 --> 0:37:53.920
<v Speaker 1>wanted people to get to know me because my mother

0:37:54.360 --> 0:37:57.000
<v Speaker 1>it really hurt her because I didn't like reading arts

0:37:57.080 --> 0:37:59.920
<v Speaker 1>and my coach, my high school, my college coach told me, son,

0:38:00.000 --> 0:38:02.120
<v Speaker 1>don't jump. You'll read articles because one minute they hate you,

0:38:02.239 --> 0:38:04.520
<v Speaker 1>the next manute they love you. So I never read

0:38:04.600 --> 0:38:07.200
<v Speaker 1>artists articles because of that. And my mother would read

0:38:07.280 --> 0:38:09.560
<v Speaker 1>just Eric, you say, this isn't your son, this isn't

0:38:09.760 --> 0:38:11.360
<v Speaker 1>this is the man that the kid I raised. I

0:38:11.400 --> 0:38:13.640
<v Speaker 1>know you better than this. And so that's the thing

0:38:13.680 --> 0:38:16.120
<v Speaker 1>that I think that really was frustrating when you when

0:38:16.160 --> 0:38:18.240
<v Speaker 1>you had no no way out. Like now the players

0:38:18.280 --> 0:38:21.320
<v Speaker 1>have Instagram, Facebook, you know, they can tell their story.

0:38:21.520 --> 0:38:23.680
<v Speaker 1>We had no story. I mean, the writers write it,

0:38:23.760 --> 0:38:25.640
<v Speaker 1>and people said, oh, it's gotta be true, It's gotta

0:38:25.680 --> 0:38:27.239
<v Speaker 1>be true. A matter of fact, Just the other day,

0:38:27.280 --> 0:38:28.879
<v Speaker 1>I was with a guy and he heard him talking

0:38:28.880 --> 0:38:30.360
<v Speaker 1>about the player. I wanta say the player's name, and

0:38:30.360 --> 0:38:32.840
<v Speaker 1>he said, oh, man, I head. He said, he's asking

0:38:32.880 --> 0:38:36.799
<v Speaker 1>my friend bomb Cities and asked so, I said, I said, so,

0:38:36.920 --> 0:38:39.319
<v Speaker 1>have you ever met the guy? I said? He said no.

0:38:39.400 --> 0:38:41.520
<v Speaker 1>I said, so, do you know your friends? Botot your friends?

0:38:41.560 --> 0:38:43.359
<v Speaker 1>He said no, I don't know. And I said, you're

0:38:43.360 --> 0:38:45.799
<v Speaker 1>taking his word. He said, yeah, that's wrong. I said that,

0:38:45.800 --> 0:38:47.759
<v Speaker 1>that's right. I said that. And it's a lot of that.

0:38:47.800 --> 0:38:49.439
<v Speaker 1>I mean, it's a lot of that in the NFL. Look,

0:38:49.800 --> 0:38:51.640
<v Speaker 1>the NFL is with the NFL is. I'll say, I'm

0:38:51.640 --> 0:38:53.640
<v Speaker 1>glad I played in the the national film. What does that mean?

0:38:55.320 --> 0:38:58.160
<v Speaker 1>What does that mean? It's it's a big entity that

0:38:58.239 --> 0:39:01.080
<v Speaker 1>you really can't you can't control it. I mean, it's

0:39:01.080 --> 0:39:02.560
<v Speaker 1>it's gonna do what it does, and it does a

0:39:02.560 --> 0:39:04.840
<v Speaker 1>lot of It's done a lot of good. I like it.

0:39:05.000 --> 0:39:06.239
<v Speaker 1>It's done a lot of good. It's done a lot

0:39:06.239 --> 0:39:07.880
<v Speaker 1>of bad too, And I think the bad is it

0:39:08.040 --> 0:39:11.200
<v Speaker 1>hide stuff and it doesn't come out until it's caught.

0:39:11.320 --> 0:39:14.000
<v Speaker 1>It's like they have this phrase that we are we

0:39:14.040 --> 0:39:16.319
<v Speaker 1>are family. We are family, and the players like We're

0:39:16.320 --> 0:39:18.880
<v Speaker 1>not no family, you know. We treat us like dogs,

0:39:19.000 --> 0:39:21.719
<v Speaker 1>you know, but the players are family because we know

0:39:21.760 --> 0:39:23.240
<v Speaker 1>what it's like to be out there on the field.

0:39:23.640 --> 0:39:25.920
<v Speaker 1>Are are you optimistic that the NFL can get to

0:39:25.960 --> 0:39:28.400
<v Speaker 1>a point where you don't feel that way about the organization.

0:39:29.800 --> 0:39:31.760
<v Speaker 1>I don't think it happened in my lifetime. Just being honest,

0:39:32.120 --> 0:39:33.719
<v Speaker 1>I don't. I mean nothing to being honest about that.

0:39:34.000 --> 0:39:36.319
<v Speaker 1>I had dinner with my friend Clyde Drexler, you know,

0:39:36.440 --> 0:39:38.840
<v Speaker 1>NBA basketball player, and I said, claud I said, like,

0:39:38.960 --> 0:39:40.879
<v Speaker 1>I said, y'all, you're in the basketball y'all. I said,

0:39:40.880 --> 0:39:42.480
<v Speaker 1>I put my hand y'all even right here. He said,

0:39:42.480 --> 0:39:45.000
<v Speaker 1>oh no, the basketball players up here and the owners

0:39:45.000 --> 0:39:47.280
<v Speaker 1>are down there. You know we we said we control

0:39:47.320 --> 0:39:50.400
<v Speaker 1>the narrative because you know, different different he said, you know,

0:39:50.560 --> 0:39:53.120
<v Speaker 1>our contracts are guarantee, we have a voice. We vote.

0:39:53.120 --> 0:39:55.600
<v Speaker 1>Weren't to hold out. We hold out and the NFL

0:39:55.640 --> 0:39:59.120
<v Speaker 1>players they they can stick together? Is the owners also,

0:39:59.719 --> 0:40:02.440
<v Speaker 1>because right, I mean, you've the NFL, but they can't

0:40:02.440 --> 0:40:05.080
<v Speaker 1>necessarily they can tell the owners with you just so much, right, yeah,

0:40:05.320 --> 0:40:07.040
<v Speaker 1>they when they own the league owners on the league,

0:40:07.080 --> 0:40:08.480
<v Speaker 1>I mean, and that's what a lot of players are

0:40:08.480 --> 0:40:11.279
<v Speaker 1>afraid of You'd be surprised how many guys that don't

0:40:11.320 --> 0:40:13.400
<v Speaker 1>want to speak up against the NFL because they're afraid

0:40:13.400 --> 0:40:15.840
<v Speaker 1>that it's all man and billionnails man. But you know,

0:40:15.880 --> 0:40:17.359
<v Speaker 1>but you know, you know, the thing is, I gotta

0:40:17.520 --> 0:40:20.480
<v Speaker 1>I gotta give the ladies credit, the women. The women

0:40:20.520 --> 0:40:23.200
<v Speaker 1>are the ones who take care of our broken bodies.

0:40:23.440 --> 0:40:26.200
<v Speaker 1>After all over when we have no health care, we

0:40:26.280 --> 0:40:28.799
<v Speaker 1>have no we have no insurance, and the women are

0:40:28.840 --> 0:40:31.279
<v Speaker 1>like stuck, like I'm stuck with this guy that he's

0:40:31.320 --> 0:40:33.040
<v Speaker 1>not the same guy that I'm married. I mean, he's

0:40:33.400 --> 0:40:35.080
<v Speaker 1>he's he's broken and I need some help. And I

0:40:35.120 --> 0:40:37.239
<v Speaker 1>feel bad for because a lot of times, like you

0:40:37.280 --> 0:40:38.799
<v Speaker 1>talked to the wives and I was like, I'm I'm

0:40:38.840 --> 0:40:41.279
<v Speaker 1>with it, I want to do it, and then I'm

0:40:41.280 --> 0:40:43.360
<v Speaker 1>not sure. You know, I'm a little afraid. It's a

0:40:43.400 --> 0:40:45.680
<v Speaker 1>tough game. And you think about there are a few

0:40:45.719 --> 0:40:48.080
<v Speaker 1>players who go on to either be you know, commentators

0:40:48.080 --> 0:40:51.719
<v Speaker 1>on networks or great investors and companies, but there's the

0:40:51.760 --> 0:40:54.200
<v Speaker 1>bulk of the team, the players, They really have a

0:40:54.200 --> 0:40:56.719
<v Speaker 1>tough They have a tough time because you know, to

0:40:56.760 --> 0:40:58.359
<v Speaker 1>say that, I guess the one of the main thing

0:40:58.440 --> 0:41:00.600
<v Speaker 1>is the pension is really bad in the National and

0:41:00.600 --> 0:41:02.560
<v Speaker 1>now it might be better for the current players. I'll

0:41:02.560 --> 0:41:04.560
<v Speaker 1>give you a quick story. A matter of fact, this

0:41:04.600 --> 0:41:07.120
<v Speaker 1>was about twelve years ago. Twelve thirteen years ago, my

0:41:07.120 --> 0:41:09.440
<v Speaker 1>friend Deacon Jones, I went to the hospital of Business

0:41:09.440 --> 0:41:10.960
<v Speaker 1>book this way way before he passed away, and I

0:41:10.960 --> 0:41:13.160
<v Speaker 1>said that all day we talked lad and he said,

0:41:13.239 --> 0:41:14.680
<v Speaker 1>Eric is what's what did you What did you take

0:41:14.719 --> 0:41:16.279
<v Speaker 1>your pension? I said, you know, I don't take my

0:41:16.280 --> 0:41:18.160
<v Speaker 1>pension yet, it's how do I think? I was forty

0:41:18.239 --> 0:41:20.120
<v Speaker 1>nine in town, so thinking I'm always Eric any old

0:41:20.160 --> 0:41:23.319
<v Speaker 1>Yet he's I'm old, So he says, he said, I said, Deacon,

0:41:23.360 --> 0:41:24.440
<v Speaker 1>so you tell you said yeah, he said, you know

0:41:24.520 --> 0:41:27.279
<v Speaker 1>my pension is, Eric, my pension is two hundred and

0:41:27.280 --> 0:41:30.040
<v Speaker 1>fifty dollars a month. What am I gonna do with

0:41:30.480 --> 0:41:32.400
<v Speaker 1>That's exactly what he said. He said, I take it

0:41:32.440 --> 0:41:35.319
<v Speaker 1>because I don't want them to have it. So, I mean,

0:41:35.360 --> 0:41:37.640
<v Speaker 1>that is that's the struggle, you know, with with with

0:41:37.680 --> 0:41:40.399
<v Speaker 1>the National Football League or the owners or whatever. It's

0:41:40.480 --> 0:41:43.560
<v Speaker 1>just not it's not an evil even playing ground. What

0:41:43.600 --> 0:41:46.400
<v Speaker 1>would you tell current NFL players or what do you

0:41:46.440 --> 0:41:50.640
<v Speaker 1>tell current NFL players about life after the NFL. I

0:41:50.719 --> 0:41:52.239
<v Speaker 1>say this much in the NFL has done a good

0:41:52.320 --> 0:41:54.520
<v Speaker 1>job about a lot better job of kind of preparing

0:41:54.520 --> 0:41:56.640
<v Speaker 1>guys for life after the NFL, because for us, they didn't,

0:41:56.680 --> 0:41:58.960
<v Speaker 1>you know, you play football, and because playing the National

0:41:58.960 --> 0:42:01.040
<v Speaker 1>Football League is like you're making money one day and

0:42:01.040 --> 0:42:03.000
<v Speaker 1>all of a sudden you might get hurting boom. It's

0:42:03.040 --> 0:42:04.959
<v Speaker 1>like a wall. You just stop, no more pay checks.

0:42:05.440 --> 0:42:07.200
<v Speaker 1>I would tell these guys, and I tell a lot

0:42:07.239 --> 0:42:09.880
<v Speaker 1>of guys, said, man, look, if you're making that ten fifteen,

0:42:09.960 --> 0:42:13.520
<v Speaker 1>I say, if you don't know anything about finance, get

0:42:13.600 --> 0:42:16.680
<v Speaker 1>you someone that really does. Not little pookie over here,

0:42:16.719 --> 0:42:19.720
<v Speaker 1>a little eddie, No, you get you somebody that really

0:42:19.760 --> 0:42:23.160
<v Speaker 1>knows finance. And I'm telling if not, just put that

0:42:23.200 --> 0:42:25.360
<v Speaker 1>money in a in a place, in a bank or

0:42:25.719 --> 0:42:27.960
<v Speaker 1>or institution. Just let it sit there, just if you

0:42:27.960 --> 0:42:29.920
<v Speaker 1>want to say, Okay, I want to do something crazy.

0:42:30.200 --> 0:42:32.880
<v Speaker 1>I'm gonna take to three million dollars. I'm gonna be

0:42:32.960 --> 0:42:35.400
<v Speaker 1>done with that. But that bulk, you keep that bulk

0:42:35.440 --> 0:42:37.840
<v Speaker 1>over there, because after a while, when you retire, you

0:42:37.880 --> 0:42:40.080
<v Speaker 1>go back. Man. I got a nest egg over here,

0:42:40.080 --> 0:42:42.120
<v Speaker 1>I think, I mean, And I would say, don't get

0:42:42.160 --> 0:42:44.640
<v Speaker 1>in something that you don't know nothing about. That a

0:42:44.680 --> 0:42:47.440
<v Speaker 1>guy has a great idea, because nine times out of

0:42:47.480 --> 0:42:50.040
<v Speaker 1>ten that does not work. It sounds too good to

0:42:50.040 --> 0:42:55.080
<v Speaker 1>be true. Probably I'm guessing rams that's a good guess.

0:42:56.080 --> 0:43:04.000
<v Speaker 1>That's you think. I tell you you're gonna be at

0:43:04.000 --> 0:43:05.880
<v Speaker 1>the game. No, I'm not going to the game. I'm

0:43:05.880 --> 0:43:07.759
<v Speaker 1>gonna watch it from home. You know, I'm pulling for

0:43:07.840 --> 0:43:09.960
<v Speaker 1>my football team. I think that this is what I

0:43:09.960 --> 0:43:12.600
<v Speaker 1>think at the game go. I think I mean Cincinnati

0:43:13.120 --> 0:43:15.799
<v Speaker 1>they deserve to be there. You know, they deserve to

0:43:15.800 --> 0:43:18.719
<v Speaker 1>be there because because because because you know, they won.

0:43:18.840 --> 0:43:21.120
<v Speaker 1>But I gotta say this too, I look back. I'm like,

0:43:21.320 --> 0:43:23.840
<v Speaker 1>they lost to the Browns twice and I called the

0:43:23.880 --> 0:43:25.839
<v Speaker 1>Browns the clowns. And you know we used to call

0:43:25.880 --> 0:43:29.319
<v Speaker 1>the Bengals the Bungles. So the Bengals are there, but

0:43:29.360 --> 0:43:32.560
<v Speaker 1>they deserve to be there. Now. I really believe this,

0:43:32.640 --> 0:43:35.160
<v Speaker 1>And I said this on TV this morning that if

0:43:35.160 --> 0:43:38.239
<v Speaker 1>we don't turn the ball one time, I said, this

0:43:38.239 --> 0:43:39.640
<v Speaker 1>will be I ute to say that. I think it'll

0:43:39.640 --> 0:43:41.680
<v Speaker 1>be a blowout because I think we just we have

0:43:41.800 --> 0:43:46.400
<v Speaker 1>that much mortality. I mean veteran players, not saying that

0:43:46.440 --> 0:43:48.280
<v Speaker 1>they're not ready for this game. It's a young quarterback.

0:43:48.320 --> 0:43:49.799
<v Speaker 1>I mean, he reminds me a lot of my friend

0:43:49.880 --> 0:43:52.840
<v Speaker 1>Dan Marino went in his second year, never went back again.

0:43:53.560 --> 0:43:56.000
<v Speaker 1>But I said, I mean the Rams are then the

0:43:56.040 --> 0:44:00.040
<v Speaker 1>perfect perfect position at home for their own fans to

0:44:00.120 --> 0:44:02.040
<v Speaker 1>win a Super Bowl and bring it back to l A.

0:44:02.120 --> 0:44:03.440
<v Speaker 1>I have. There's a lot of turnovers. I just want

0:44:03.440 --> 0:44:05.080
<v Speaker 1>a good game. I think I just want a good game.

0:44:05.120 --> 0:44:07.240
<v Speaker 1>I just want a good game. Well, thank you again,

0:44:07.280 --> 0:44:10.400
<v Speaker 1>love the shoe comment, love everything, um your book, watch

0:44:10.440 --> 0:44:13.560
<v Speaker 1>my smoke. Eric Dickerson, so timely in terms of the conversations,

0:44:13.600 --> 0:44:19.560
<v Speaker 1>be well, thank yeah. But you let me drive? No, no, no,

0:44:22.239 --> 0:44:33.600
<v Speaker 1>please ravels. I want to drive. Good. Question is the

0:44:33.760 --> 0:44:41.080
<v Speaker 1>drive to the clothes well up on Blueberg Radio? All right,

0:44:41.120 --> 0:44:44.359
<v Speaker 1>everybody just got about twenty minutes, a little bit under

0:44:44.480 --> 0:44:47.960
<v Speaker 1>eighteen minutes left in today's trading session. But as Charlie mentioned,

0:44:48.120 --> 0:44:50.320
<v Speaker 1>pretty much every new arrow lows of the day concerns

0:44:50.400 --> 0:44:56.200
<v Speaker 1>about tensions between Russia and certainly expectations or the possibility

0:44:56.239 --> 0:44:59.840
<v Speaker 1>of an invasion into Ukraine, and that is certainly freaked

0:44:59.840 --> 0:45:02.760
<v Speaker 1>out investors on this Friday. So let's see what Rebecca

0:45:02.800 --> 0:45:05.320
<v Speaker 1>Corbyn has to say. She's founder and CEO at the

0:45:05.360 --> 0:45:08.520
<v Speaker 1>strategic consultancy and research firm Corby Advisors, joining us once

0:45:08.520 --> 0:45:12.400
<v Speaker 1>again on the phone from Farmington, Connecticut. Rebecca, you know,

0:45:12.520 --> 0:45:14.600
<v Speaker 1>prior to today, it looked like we might see right,

0:45:14.680 --> 0:45:18.040
<v Speaker 1>some gains for the week tim overall. Um, Rebecca, how

0:45:18.080 --> 0:45:23.200
<v Speaker 1>do you put into context a day like today? Well? Hello,

0:45:23.400 --> 0:45:25.680
<v Speaker 1>how are you? Sarah? And sim You know, I think

0:45:25.719 --> 0:45:29.160
<v Speaker 1>this is part of the course for earnings. Um. You know,

0:45:29.440 --> 0:45:31.560
<v Speaker 1>if you think about where we were in the third

0:45:31.600 --> 0:45:33.799
<v Speaker 1>quarter heading into the third quarter, and I had to

0:45:33.800 --> 0:45:38.120
<v Speaker 1>take you back there because investors sentiment was getting, um

0:45:38.400 --> 0:45:41.440
<v Speaker 1>the pep it. You know, we saw bullish sentiment highest

0:45:41.480 --> 0:45:44.719
<v Speaker 1>level of bullish sentiment in our second quarter survey. Heading

0:45:44.719 --> 0:45:48.120
<v Speaker 1>into the third quarter, investor started expressing concern around inflation,

0:45:48.239 --> 0:45:52.719
<v Speaker 1>supply chain really coming home to Ruth with regard to performance.

0:45:52.800 --> 0:45:58.719
<v Speaker 1>But executives had a you know, terrific um communication and

0:45:58.760 --> 0:46:00.919
<v Speaker 1>talked a lot about them and talk a lot about

0:46:01.000 --> 0:46:05.279
<v Speaker 1>drown backlog. Still addressed the concerns. But what it did

0:46:05.400 --> 0:46:08.719
<v Speaker 1>was it actually made investors feel a lot more confident

0:46:08.760 --> 0:46:13.160
<v Speaker 1>heading into this earning season. And as we've seen, the

0:46:13.280 --> 0:46:17.879
<v Speaker 1>guide for Q one very tough se The SMP five

0:46:17.920 --> 0:46:21.680
<v Speaker 1>hundred already have given a negative guide. And while the

0:46:21.840 --> 0:46:25.960
<v Speaker 1>year with strong a lot of discussion around back uploads,

0:46:28.719 --> 0:46:30.920
<v Speaker 1>what about when it comes to consumer sentiment and the

0:46:31.000 --> 0:46:33.760
<v Speaker 1>data that we got this morning declining further in early

0:46:33.760 --> 0:46:37.120
<v Speaker 1>February to a fresh decade low. This is views about

0:46:37.200 --> 0:46:42.480
<v Speaker 1>personal finances deteriorate because of intensifying inflation. Intensifying inflation concerns Rebecca,

0:46:42.600 --> 0:46:45.239
<v Speaker 1>I'm wondering how that manifests itself in corporate earnings, how

0:46:45.239 --> 0:46:48.600
<v Speaker 1>it manifests itself. Uh As consumers of course power this

0:46:48.640 --> 0:46:54.240
<v Speaker 1>economy absolutely. You know, this is just that low um

0:46:54.760 --> 0:46:58.520
<v Speaker 1>movie that's playing in slow motion and you can see

0:46:58.640 --> 0:47:02.040
<v Speaker 1>the fall and you know happening, but it's not going

0:47:02.080 --> 0:47:05.320
<v Speaker 1>to be this you know kind of kaboom where everything

0:47:05.480 --> 0:47:08.640
<v Speaker 1>just goes up at once. But this is really a

0:47:08.719 --> 0:47:11.759
<v Speaker 1>market that is time. These are strings that are very

0:47:11.880 --> 0:47:14.160
<v Speaker 1>very taught. You think about the supply chain, do you

0:47:14.200 --> 0:47:17.799
<v Speaker 1>think about inflation? Remember the first time that we identified

0:47:17.880 --> 0:47:21.680
<v Speaker 1>concern with regard to inflation was in the fourth quarter

0:47:21.800 --> 0:47:25.520
<v Speaker 1>of twenty so this this play has been playing out

0:47:25.640 --> 0:47:29.879
<v Speaker 1>for a year now and with its supply chain, and

0:47:29.920 --> 0:47:35.440
<v Speaker 1>what's very interesting is that the entire market. UH, trade

0:47:35.480 --> 0:47:40.719
<v Speaker 1>has really been on demand, business demand, consumer demand, and

0:47:40.760 --> 0:47:45.239
<v Speaker 1>again the guys that companies have provided, UH, there's very

0:47:45.360 --> 0:47:48.160
<v Speaker 1>little room for error on the demand side, and that

0:47:48.280 --> 0:47:54.360
<v Speaker 1>is what we're watching. So if if that's the case,

0:47:54.440 --> 0:47:57.160
<v Speaker 1>then what's the big risk right now that our audience

0:47:57.200 --> 0:48:00.640
<v Speaker 1>needs to know about that they need to understand well,

0:48:00.680 --> 0:48:03.839
<v Speaker 1>the big rest is that this playing field that we've

0:48:03.840 --> 0:48:07.640
<v Speaker 1>been on UM has been COVID, which we all understand

0:48:07.680 --> 0:48:11.000
<v Speaker 1>and have been navigating through that corporate We've done really

0:48:11.000 --> 0:48:14.279
<v Speaker 1>well with regardsman creation, manages supply chains. It is what

0:48:14.360 --> 0:48:17.720
<v Speaker 1>it is, exacts, but the company is executive or managing

0:48:17.800 --> 0:48:20.560
<v Speaker 1>the best that they can. The new player in the

0:48:20.640 --> 0:48:23.799
<v Speaker 1>room is now interesting, and that is the biggest thing

0:48:24.000 --> 0:48:26.640
<v Speaker 1>you should be focused on because that is going to

0:48:26.719 --> 0:48:30.680
<v Speaker 1>have a significant path and far reaching impath on so

0:48:30.800 --> 0:48:33.360
<v Speaker 1>many sectors, so many companies. We can't even begin to

0:48:33.440 --> 0:48:37.800
<v Speaker 1>process the fallout. And you know, both strengths as well

0:48:37.840 --> 0:48:41.040
<v Speaker 1>as weaknesses with regard to what we'll see when when

0:48:41.120 --> 0:48:45.000
<v Speaker 1>the FED increases weight. You know, I love what you said,

0:48:45.040 --> 0:48:47.560
<v Speaker 1>Rebecca about strings are very taught, and I think that's

0:48:47.600 --> 0:48:50.560
<v Speaker 1>so true. Like you know, when you're distressed out and

0:48:50.800 --> 0:48:53.360
<v Speaker 1>someone could do the smallest thing and it just turns

0:48:53.400 --> 0:48:56.520
<v Speaker 1>you makes you crazy. And that's really it feels like

0:48:56.520 --> 0:48:59.440
<v Speaker 1>the market environment right now is that investors are taught.

0:49:00.000 --> 0:49:01.920
<v Speaker 1>You know, there's just so many issues that could kind

0:49:01.960 --> 0:49:06.960
<v Speaker 1>of not go right. A misstep on global monetary policy. Um,

0:49:07.320 --> 0:49:09.680
<v Speaker 1>now we have geopolitical concerns and what that means for

0:49:09.719 --> 0:49:13.360
<v Speaker 1>the global economy. There's just there's political you know, continued

0:49:13.400 --> 0:49:16.279
<v Speaker 1>wrangling in the US. So there's a lot out there

0:49:16.320 --> 0:49:20.560
<v Speaker 1>to try and figure out. You know what that overall recalibration.

0:49:20.640 --> 0:49:22.719
<v Speaker 1>I keep using it over and over again because I

0:49:22.760 --> 0:49:25.200
<v Speaker 1>think it's the right word to be using. We just

0:49:25.280 --> 0:49:28.919
<v Speaker 1>don't know what that post pandemic world is like as

0:49:29.080 --> 0:49:31.920
<v Speaker 1>all of the easy stimulus gets backed off. You know,

0:49:32.080 --> 0:49:34.200
<v Speaker 1>what is the real growth scenario? What is the real

0:49:34.280 --> 0:49:37.359
<v Speaker 1>inflation you know scenario. There's just you know, how many

0:49:37.400 --> 0:49:39.799
<v Speaker 1>people really ultimately come back to work. There's just so

0:49:39.920 --> 0:49:43.400
<v Speaker 1>much we just don't know. This is this is so true,

0:49:43.520 --> 0:49:46.719
<v Speaker 1>and um again, you know, we don't know what's going

0:49:46.760 --> 0:49:50.840
<v Speaker 1>to happen when interest rate rais and and all of

0:49:50.880 --> 0:49:54.399
<v Speaker 1>these companies and everyone quite frankly has been passing on

0:49:54.880 --> 0:49:58.880
<v Speaker 1>passing on cloth so obviously the consumer. So there's the

0:49:58.880 --> 0:50:01.359
<v Speaker 1>whole series of dominan no effects that has to happen. Again,

0:50:01.400 --> 0:50:04.760
<v Speaker 1>this doesn't happen overnight. This whole thing that is wrapped

0:50:04.800 --> 0:50:09.040
<v Speaker 1>around the axles very tightly test unwind and so we'll

0:50:09.040 --> 0:50:11.880
<v Speaker 1>see that play out. And again, you know, I just

0:50:11.960 --> 0:50:15.200
<v Speaker 1>look at Trent and I say, well, what are the

0:50:15.280 --> 0:50:19.320
<v Speaker 1>things that are going well for us? Demand? Right, record, backlog, demand,

0:50:19.920 --> 0:50:22.840
<v Speaker 1>um how much? And that, by the way, capex is

0:50:22.880 --> 0:50:26.560
<v Speaker 1>still very strong, so you know, everybody is supportive of

0:50:26.600 --> 0:50:30.759
<v Speaker 1>the demand environment. Companies are still spending. In fact, in

0:50:32.200 --> 0:50:36.080
<v Speaker 1>CAPEX plan type increased over one, so there's still a

0:50:36.080 --> 0:50:39.799
<v Speaker 1>lot of capital being put into the economy. However, when

0:50:39.800 --> 0:50:42.600
<v Speaker 1>I look at that was a thing that's really the

0:50:42.719 --> 0:50:45.480
<v Speaker 1>juggernaut on the positive side, and all of the other

0:50:46.040 --> 0:50:51.560
<v Speaker 1>headwinds including inflation, supply chain talk, consumers, interest rates, etcetera.

0:50:51.680 --> 0:50:55.360
<v Speaker 1>Those trends don't they don't net out. And the demand

0:50:55.440 --> 0:50:58.160
<v Speaker 1>train has been going for a very long time. And

0:50:58.239 --> 0:51:02.120
<v Speaker 1>the thing about demand, backlog and cap acts, it can

0:51:02.160 --> 0:51:08.239
<v Speaker 1>evaporate overnight. People can get concerns and worried about the

0:51:08.320 --> 0:51:11.799
<v Speaker 1>negative headlines and what's happening and consumer and they can

0:51:11.840 --> 0:51:15.840
<v Speaker 1>pull that lever very quickly, which becomes a vacuum, potential

0:51:15.920 --> 0:51:18.320
<v Speaker 1>vacuum in the economy. And that's really what we're concerned

0:51:18.320 --> 0:51:21.200
<v Speaker 1>about and what we will be looking for are when

0:51:21.239 --> 0:51:25.799
<v Speaker 1>companies really start to change their behaviors around if the

0:51:25.880 --> 0:51:28.120
<v Speaker 1>demand starts this often, we're going to be looking for

0:51:29.239 --> 0:51:32.400
<v Speaker 1>cost setting initiatives, and we're going to be looking for layoffs,

0:51:32.400 --> 0:51:36.000
<v Speaker 1>and and there in lies the perfect storm right when

0:51:36.000 --> 0:51:40.480
<v Speaker 1>you start to compound this situation with layoffs of people

0:51:40.600 --> 0:51:44.160
<v Speaker 1>who have been feeling very good about the economy, is

0:51:44.280 --> 0:51:47.640
<v Speaker 1>very good about the jobs market, and have been spending

0:51:47.960 --> 0:51:52.840
<v Speaker 1>very strongly. This is Charlie Pellett and just very curious

0:51:52.840 --> 0:51:56.000
<v Speaker 1>about market reactions steep losses. Right now as we head

0:51:56.040 --> 0:51:58.400
<v Speaker 1>toward the closing bell, We've got roughly ten aduts to

0:51:58.400 --> 0:52:01.319
<v Speaker 1>go before the bell closes here in New York. What

0:52:01.400 --> 0:52:04.440
<v Speaker 1>are you telling your clients to do right now? Given

0:52:04.600 --> 0:52:07.080
<v Speaker 1>all that we're seeing with financial markets. What a week.

0:52:07.120 --> 0:52:10.160
<v Speaker 1>It's been a losing week. Just seems like investors are

0:52:10.160 --> 0:52:13.759
<v Speaker 1>getting whips on every day. Yeah, well, I'll tell you

0:52:13.840 --> 0:52:17.400
<v Speaker 1>something about investors. When we headed into this earning season,

0:52:17.440 --> 0:52:21.520
<v Speaker 1>there were two factors that we identified that were misperceptions

0:52:21.560 --> 0:52:25.280
<v Speaker 1>from investors. One is that they looked at supply chain

0:52:25.640 --> 0:52:29.239
<v Speaker 1>um as less of a concern quarter of a quarter

0:52:29.360 --> 0:52:32.799
<v Speaker 1>survey over survey. And second is they were not including

0:52:33.080 --> 0:52:37.879
<v Speaker 1>the omocron effect and the level of absentee ism in financials,

0:52:37.960 --> 0:52:40.480
<v Speaker 1>and that impacted fourth quarter, it is going to impact

0:52:40.560 --> 0:52:43.920
<v Speaker 1>first quarter. What we've been telling our clients is we

0:52:43.960 --> 0:52:46.680
<v Speaker 1>should be we should be thinking about these clauds on

0:52:46.719 --> 0:52:49.399
<v Speaker 1>the horizon. While demand is still very strong. We need

0:52:49.440 --> 0:52:52.239
<v Speaker 1>to really start managing expenses, and we need to be

0:52:52.280 --> 0:52:56.279
<v Speaker 1>prepared for vicissitudes in the market. And companies and our

0:52:56.360 --> 0:53:00.200
<v Speaker 1>viewers should be listening to companies that are strong execute ers,

0:53:00.200 --> 0:53:03.800
<v Speaker 1>that are cycle tested, that make decisions with agility around

0:53:04.040 --> 0:53:07.759
<v Speaker 1>changes in the economic environment. Those are strong best. All right, Well,

0:53:07.760 --> 0:53:10.719
<v Speaker 1>it raises the question too, as you listened to the

0:53:10.840 --> 0:53:15.200
<v Speaker 1>earnings calls, how pleased have you been about what companies

0:53:15.239 --> 0:53:18.200
<v Speaker 1>are saying about the future outlook, especially with all of

0:53:18.239 --> 0:53:21.560
<v Speaker 1>the inflation news that we've got. Obviously the inflation, uh

0:53:21.680 --> 0:53:24.399
<v Speaker 1>the specific inflation number has not been on the conference calls,

0:53:24.440 --> 0:53:28.880
<v Speaker 1>but the overall inflation picture. What are companies saying and

0:53:28.960 --> 0:53:34.360
<v Speaker 1>should you be concerned companies are still looking at a

0:53:34.400 --> 0:53:39.000
<v Speaker 1>strong two soft Q one in general UM, and that's

0:53:39.040 --> 0:53:44.440
<v Speaker 1>overly generalizing, but generally Q one is impacted by absentee ism. Inflation.

0:53:44.480 --> 0:53:47.600
<v Speaker 1>Supply chain which most executives leave will ease at some point,

0:53:47.680 --> 0:53:50.440
<v Speaker 1>especially with the interest rate hikes, that will create new problems.

0:53:51.040 --> 0:53:53.880
<v Speaker 1>And I would say that UM. For me, as somebody

0:53:53.920 --> 0:53:56.879
<v Speaker 1>who has followed the markets for over twenty years, I'm

0:53:56.960 --> 0:54:00.360
<v Speaker 1>I'm more skeptic. I'm more of a skeptic. I don't

0:54:00.360 --> 0:54:02.640
<v Speaker 1>see how we work our way out of this necessarily,

0:54:03.280 --> 0:54:06.520
<v Speaker 1>And it's a lot of the culmination of many years

0:54:06.560 --> 0:54:09.120
<v Speaker 1>coming together, many factors in this kind of what I

0:54:09.160 --> 0:54:12.640
<v Speaker 1>call the supercycled growth that we're seeing. That really started

0:54:12.640 --> 0:54:15.320
<v Speaker 1>when companies started to put their money to work back

0:54:15.360 --> 0:54:20.359
<v Speaker 1>in July of twenty and we saw that come through

0:54:20.400 --> 0:54:23.200
<v Speaker 1>to fruition. And here we are, so to Julie's point,

0:54:23.239 --> 0:54:26.000
<v Speaker 1>we need to recalibrate, and we're going to recalibrate and

0:54:26.080 --> 0:54:29.880
<v Speaker 1>companies are going to gently communicate that to the market

0:54:29.960 --> 0:54:33.680
<v Speaker 1>over several quarters and we'll see how that works. Hopefully

0:54:33.680 --> 0:54:36.120
<v Speaker 1>there's a soft landing. Yeah. And Rebecca, when you say

0:54:36.120 --> 0:54:39.520
<v Speaker 1>your skeptical this year's returns, I don't think anybody is

0:54:39.520 --> 0:54:42.120
<v Speaker 1>forecasting that we will have a better year than last year.

0:54:42.880 --> 0:54:45.000
<v Speaker 1>Will well, let me ask you, will it wind up

0:54:45.040 --> 0:54:50.719
<v Speaker 1>being a positive year for the SMPI index. That's a

0:54:50.760 --> 0:54:54.239
<v Speaker 1>great question. You know. I'm not I'm not gonna I'm

0:54:54.239 --> 0:54:56.719
<v Speaker 1>not gonna hang myself on that one. I've learned many

0:54:56.800 --> 0:54:59.719
<v Speaker 1>many times not to call these markets because strange things

0:54:59.760 --> 0:55:02.840
<v Speaker 1>have then. But what I will tell you is what

0:55:02.960 --> 0:55:07.600
<v Speaker 1>we saw in one is likely not repeatable. Fair enough,

0:55:07.640 --> 0:55:10.440
<v Speaker 1>that said, because you know that we've been inviting you

0:55:10.440 --> 0:55:13.360
<v Speaker 1>back on December thirty December thirty one and playing the

0:55:13.360 --> 0:55:15.640
<v Speaker 1>clip where he had predicted the markets would be doing

0:55:16.120 --> 0:55:19.640
<v Speaker 1>X for this year. That said, the current tensions that

0:55:19.719 --> 0:55:24.320
<v Speaker 1>we are seeing over Ukraine short term blip, should investors

0:55:24.360 --> 0:55:28.400
<v Speaker 1>be reacting to what we're seeing? Well, I think it

0:55:28.440 --> 0:55:31.840
<v Speaker 1>all just adds to the concern with regard to again

0:55:31.920 --> 0:55:37.440
<v Speaker 1>the trends. There's a lot more headwinds, challenges, serious negatives

0:55:37.440 --> 0:55:39.880
<v Speaker 1>out there, and of course the market is going to

0:55:39.920 --> 0:55:42.239
<v Speaker 1>react to that. And you know, quite frankly, we have

0:55:42.320 --> 0:55:45.319
<v Speaker 1>to bifurcate the markets because you know, we work with

0:55:45.440 --> 0:55:49.440
<v Speaker 1>institutional investors, either professional investors. Then we have the retail

0:55:49.520 --> 0:55:52.120
<v Speaker 1>we have the general public with regard to the markets.

0:55:52.480 --> 0:55:56.040
<v Speaker 1>Heading into this earning season, our institutional investors were expecting

0:55:56.040 --> 0:55:59.120
<v Speaker 1>Recus that was already priced in, right, But any time

0:55:59.160 --> 0:56:05.360
<v Speaker 1>we have these of overarching headlines, the generalist market, the ets,

0:56:05.560 --> 0:56:08.200
<v Speaker 1>you know, the program trading is going to react to

0:56:08.239 --> 0:56:11.520
<v Speaker 1>that news. And listen, you've got to be in it

0:56:11.640 --> 0:56:14.239
<v Speaker 1>to win it. Over the long term. We don't get

0:56:14.280 --> 0:56:16.960
<v Speaker 1>a lot of market corrections. Take the opportunity if we

0:56:17.000 --> 0:56:19.759
<v Speaker 1>do get one and invest in it. Yeah, so many

0:56:19.920 --> 0:56:23.120
<v Speaker 1>major issues hanging over the market. I mentioned Ukraine clearly

0:56:23.120 --> 0:56:27.960
<v Speaker 1>that's a big one. Rising energy prices, inflation, and it is.

0:56:28.000 --> 0:56:30.120
<v Speaker 1>But where does all of this leave the Federal Reserve?

0:56:30.200 --> 0:56:32.840
<v Speaker 1>Because it just seems in just a matter of weeks

0:56:32.880 --> 0:56:36.440
<v Speaker 1>we have gone from a number of increase interest rate

0:56:36.480 --> 0:56:39.360
<v Speaker 1>increases seven some people are saying, but I think perhaps

0:56:39.400 --> 0:56:42.120
<v Speaker 1>the bigger story there is now chatter about a fifty

0:56:42.280 --> 0:56:46.719
<v Speaker 1>basis point hike. Yes, and you know, like the Fed,

0:56:47.400 --> 0:56:51.760
<v Speaker 1>let's see he's into it. Let's see what one basis

0:56:51.760 --> 0:56:55.120
<v Speaker 1>point hike does before we start to really unravel this.

0:56:55.239 --> 0:56:57.960
<v Speaker 1>That's my concern is that we're going to go into

0:56:58.000 --> 0:57:02.320
<v Speaker 1>this not eyes wide open, and there are so many strings.

0:57:02.400 --> 0:57:04.200
<v Speaker 1>You know, you kind of light that up and the

0:57:04.200 --> 0:57:08.120
<v Speaker 1>whole entire market lights up because it's all inter related.

0:57:08.680 --> 0:57:12.440
<v Speaker 1>And we really have to be thoughtful, I believe going

0:57:12.480 --> 0:57:14.600
<v Speaker 1>in with these interest rascally because we haven't had one

0:57:15.040 --> 0:57:18.120
<v Speaker 1>in so many years, and we've got just all of

0:57:18.160 --> 0:57:21.400
<v Speaker 1>this perfect storm waiting to happen. And that is that

0:57:21.400 --> 0:57:25.600
<v Speaker 1>that is a lever that we're not used to. Again,

0:57:25.760 --> 0:57:28.520
<v Speaker 1>it's going to create a lot of volatility. Um. There's

0:57:28.680 --> 0:57:31.280
<v Speaker 1>there's going to be more fallout when the rate does happen,

0:57:31.320 --> 0:57:34.160
<v Speaker 1>even though we've been talking about it, because that's just

0:57:34.200 --> 0:57:37.800
<v Speaker 1>the way the markets react. But again, companies are have

0:57:37.920 --> 0:57:41.680
<v Speaker 1>gotten very strong since the Great Financial Crisis of navigating

0:57:41.680 --> 0:57:44.800
<v Speaker 1>through challenges. I mean it's been that way, one after

0:57:44.880 --> 0:57:48.560
<v Speaker 1>the other after the other, and they've been pretty successful.

0:57:48.840 --> 0:57:51.800
<v Speaker 1>And what would you consider the likelihood if any UH

0:57:52.360 --> 0:57:56.000
<v Speaker 1>to be for a fifty basis point rate increase at

0:57:56.080 --> 0:57:58.920
<v Speaker 1>the next meeting? But the better question, how would the

0:57:58.960 --> 0:58:03.200
<v Speaker 1>market react? Oh? I think the market would react quite

0:58:03.200 --> 0:58:06.840
<v Speaker 1>frankly negatively. Um. Even though it's priced in, I think

0:58:06.840 --> 0:58:09.320
<v Speaker 1>the market is still going to go through the Oh

0:58:09.480 --> 0:58:12.760
<v Speaker 1>so it's real. UM. And again you think about what

0:58:12.800 --> 0:58:15.479
<v Speaker 1>that has an impact on balance sheets, and balance sheets

0:58:15.480 --> 0:58:17.920
<v Speaker 1>are very strong for a lot of companies. But that

0:58:18.080 --> 0:58:20.960
<v Speaker 1>just puts it into perspective. And you know, for investors,

0:58:21.000 --> 0:58:23.760
<v Speaker 1>they're looking at companies with two times netde to even

0:58:23.840 --> 0:58:26.800
<v Speaker 1>up the companies that are above that really when they

0:58:26.840 --> 0:58:30.840
<v Speaker 1>when we go into an interest rate rate environment Alright, Rebecca,

0:58:30.880 --> 0:58:32.160
<v Speaker 1>we gotta leave it there. I want to thank you

0:58:32.240 --> 0:58:34.680
<v Speaker 1>so much for joining us here on Bloomberg Business Week.

0:58:35.840 --> 0:58:38.680
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0:58:38.720 --> 0:58:41.680
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0:58:41.680 --> 0:58:43.840
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0:58:43.880 --> 0:58:47.040
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0:58:47.040 --> 0:58:47.720
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