WEBVTT - China Isn’t Playing Games at the Olympics 0:00:01.800 --> 0:00:04.400 This is Bloomberg Business Week. I'm Charle Masser and I'm 0:00:04.440 --> 0:00:07.280 Bloomberg Quick Takes Tim Stanabek. We're here every day bringing 0:00:07.280 --> 0:00:09.799 you the latest news from the world of business and finance, 0:00:09.840 --> 0:00:13.600 plus technology, politics, economics, all partnessing the power of Business 0:00:13.640 --> 0:00:17.119 Week reporters and editors, not to mention our journalists and 0:00:17.120 --> 0:00:20.000 analyst in more than one twenty countries. You can download 0:00:20.000 --> 0:00:23.200 Bloomberg Business Week on iTunes, SoundCloud, or Bloomberg dot Com. 0:00:23.400 --> 0:00:25.120 You can also listen to our radio show at two 0:00:25.160 --> 0:00:27.840 pm Eastern Time on Bloomberg Radio, or watch us on 0:00:27.880 --> 0:00:32.000 YouTube search Bloomberg Global News. So, the weekly death toll 0:00:32.040 --> 0:00:34.080 from COVID nineteen in the US rose for the first 0:00:34.120 --> 0:00:36.920 time since February, and infections climb for a fourth straight 0:00:37.000 --> 0:00:40.320 week even as vaccinations are surge. And we talked a 0:00:40.320 --> 0:00:42.479 little bit about what's going on in New York City 0:00:42.520 --> 0:00:45.160 for some of our audience. Uh, there's a lot going 0:00:45.200 --> 0:00:47.839 on here, whether you're here in the US or of 0:00:47.880 --> 0:00:50.400 course in other parts of the world. England, by the way, 0:00:50.400 --> 0:00:53.880 reopening shops, pub gardens, gyms, and hair salons after months 0:00:53.920 --> 0:00:56.400 of a lockdown. So let's get into it with our 0:00:56.440 --> 0:01:00.480 daily check on COVID and the vaccine rollout. Welcome back, 0:01:00.720 --> 0:01:03.600 Dr Rachel Doo. She's co founder of Moody Health. She's 0:01:03.640 --> 0:01:05.720 with us once again on the phone in Los Angeles. 0:01:05.760 --> 0:01:08.119 Dr Dude, Nice to have you back with us on Bloomberg. 0:01:08.160 --> 0:01:11.240 How are you. I'm great. Thank you so much for 0:01:11.280 --> 0:01:13.800 having me back, Carol. So tell me about the view 0:01:13.840 --> 0:01:16.920 that you're seeing in terms of patients coming into your office, 0:01:17.360 --> 0:01:20.240 what you're seeing when it comes to COVID nineteen cases, 0:01:20.280 --> 0:01:23.480 what you're seeing in terms of the vaccine rollout. Yeah, 0:01:23.520 --> 0:01:27.600 absolutely so. On the Moody Health platform, our practitioners have 0:01:27.800 --> 0:01:32.200 definitely been seeing an increase in people experiencing pandemic burnout 0:01:32.720 --> 0:01:35.720 and the need for emotional well being and support from 0:01:35.720 --> 0:01:39.039 our integrative life coaches as well as our mental health professional. 0:01:39.560 --> 0:01:43.480 But we're also seeing a real uptick in people becoming 0:01:43.520 --> 0:01:47.440 more comfortable with getting vaccinated and really excited to move 0:01:47.520 --> 0:01:50.240 beyond the pandemic. One thing I will say is that 0:01:50.560 --> 0:01:54.240 you know that that pandemic exhaustion and burnout is really 0:01:54.800 --> 0:01:59.280 causing some people to stop wearing maths, stop you know, 0:01:59.360 --> 0:02:02.720 focusing on social distancing, and I think it's really important 0:02:02.760 --> 0:02:06.200 that we still stay the course and continue those safety precautions. 0:02:06.240 --> 0:02:08.040 You know, it's interesting that you say that last week 0:02:08.080 --> 0:02:10.120 we had a COVID scare in my family turned out 0:02:10.120 --> 0:02:13.560 to be a false positive and after all this testing 0:02:13.600 --> 0:02:16.680 and I was sequestered last week, my daughter, my family, 0:02:17.080 --> 0:02:19.560 But it reminded us, like we were terrified that we 0:02:19.560 --> 0:02:21.520 had gotten it even though we were so careful, And 0:02:21.560 --> 0:02:24.600 it reminded us that, you know, this is real. It's 0:02:24.600 --> 0:02:27.160 still out there. Uh, And the thought of having it 0:02:27.200 --> 0:02:29.680 really put some pressure and stress on my family, And 0:02:29.680 --> 0:02:31.560 it was great to know that we don't have it. 0:02:31.600 --> 0:02:33.840 But it's just a reminder that this is kind of 0:02:33.840 --> 0:02:35.760 the world we're living in. Yes, there's progress with the 0:02:35.840 --> 0:02:41.040 vaccine rollout, but it's still out there. We're not over it. Absolutely, 0:02:41.680 --> 0:02:44.480 So tell us in terms of you said, uh, more 0:02:44.560 --> 0:02:48.320 pandemic burnout up to uptake in up, you said people 0:02:48.360 --> 0:02:51.800 getting more vaccines. But I'm curious about the burnout because 0:02:51.840 --> 0:02:53.720 that is something a topic that we've talked about a 0:02:53.720 --> 0:02:57.040 lot over the past year. What's changed, what's different? What 0:02:57.120 --> 0:03:00.880 are the numbers like in terms of the uptick. Absolutely, 0:03:01.360 --> 0:03:03.680 I think that what we're seeing is just a large 0:03:03.840 --> 0:03:07.680 amount of people being completely exhausted, right, everybody is ready 0:03:07.680 --> 0:03:11.400 to move forward. And people, you know, they've undergone such 0:03:11.480 --> 0:03:14.320 stress for such a long period of time, right, they've 0:03:14.400 --> 0:03:19.320 been experiencing stress loss and transition. Really feeling that burnout 0:03:19.400 --> 0:03:22.280 is it's a normal response. It's a normal response for 0:03:22.360 --> 0:03:27.079 all of us. And getting support around emotionally processing what 0:03:27.160 --> 0:03:30.400 it has been for each person is important. And you know, 0:03:30.440 --> 0:03:33.760 there's also a few simple steps that everyone can be 0:03:33.800 --> 0:03:37.240 taking on their own to really reduce this this burnout 0:03:37.360 --> 0:03:41.520 and that you know, things like giving yourself permission to 0:03:41.560 --> 0:03:44.920 get more rest and the space to process the transition. 0:03:45.640 --> 0:03:48.880 So treating yourself gently and increasing self pairent ways that 0:03:48.920 --> 0:03:54.080 feel helpful, practicing mindfulness, getting outdoors and moving your body again, 0:03:54.160 --> 0:03:58.200 continuing that faith, social distancing activities with friends and loved 0:03:58.200 --> 0:04:00.520 one so you can still feel connected. And then of 0:04:00.560 --> 0:04:03.360 course getting that support from a mental health practitioner or 0:04:03.400 --> 0:04:06.280 an integrative life coach. You know, it's interesting too. Of 0:04:06.360 --> 0:04:08.520 the last week or so, we've talked about a couple 0:04:08.560 --> 0:04:11.800 of companies, a Real Bank of Canada and Toronto Dominion 0:04:11.800 --> 0:04:15.240 Bank giving employees and extra paid day off this year, 0:04:15.320 --> 0:04:19.760 and it's specifically um to avoid burnout what's changed. Do 0:04:19.800 --> 0:04:24.400 you think in the corporate culture that there's a heightened 0:04:24.400 --> 0:04:29.240 sensitivity when it comes to burnout? Absolutely. I think that 0:04:29.560 --> 0:04:32.520 free pandemic, you know, at Motive helped we do a 0:04:32.560 --> 0:04:35.200 lot in the corporate wellness spase, and so pre pandemic, 0:04:35.279 --> 0:04:38.240 we were seeing a lot of companies were wanting to 0:04:38.320 --> 0:04:42.120 increase productivity and address wellness and well being so that 0:04:42.120 --> 0:04:44.960 there could be a higher level of productivity. But during 0:04:44.960 --> 0:04:51.120 the pandemic, corporations, companies, organizations, institutions have been actually seeing 0:04:51.760 --> 0:04:56.160 over performance and burnout happening from people working from home 0:04:56.240 --> 0:04:59.960 and really over working and not having much work life balance, 0:05:00.000 --> 0:05:03.960 and so they're but is that new? I can. I 0:05:04.040 --> 0:05:05.880 know that there's going to be people saying this is 0:05:05.920 --> 0:05:09.320 nothing new. We've always talked about, certainly those of us 0:05:09.320 --> 0:05:11.520 who work in the New York metro are always talking 0:05:11.520 --> 0:05:14.599 about our our our life, our work life balance and 0:05:14.640 --> 0:05:19.159 how bad it is. What's different, Well, I think the 0:05:19.200 --> 0:05:22.240 pandemic has really shed light on the importance of work 0:05:22.279 --> 0:05:24.120 life balance, and I think that's been one of the 0:05:24.160 --> 0:05:27.520 positives to come out of the pandemic is a real 0:05:27.680 --> 0:05:32.320 reevaluation of what wellness and well being and health looks 0:05:32.360 --> 0:05:36.640 like mentally, physically, emotionally, spiritually, really that whole person, whole 0:05:36.640 --> 0:05:40.440 life approach. Well, And what would you be your advice 0:05:40.480 --> 0:05:43.000 to someone who's listening, who's thinking about this, and maybe 0:05:43.000 --> 0:05:45.640 they haven't reached out to somebody, how do they know 0:05:45.680 --> 0:05:48.200 if they've really got kind of a burnout problem and 0:05:48.240 --> 0:05:50.080 just got about forty seconds, then we'll come back and 0:05:50.080 --> 0:05:54.320 talk some more. Yeah. Absolutely, if you're feeling is austed, 0:05:54.480 --> 0:05:57.039 if you're you know, seeing a decrease in quality of 0:05:57.080 --> 0:06:00.360 sleep and a decrease in your emotional well being, you're 0:06:00.360 --> 0:06:04.240 probably experiencing some burnout or some fatigue from the pandemics, 0:06:04.320 --> 0:06:08.520 and really addressing it now is incredibly important to get 0:06:08.520 --> 0:06:10.840 the help you need. Doctor do One thing I did 0:06:10.839 --> 0:06:12.440 want to ask you, and when I kicked off our 0:06:12.480 --> 0:06:15.640 conversation in the previous segment, I said, the weekly death 0:06:15.680 --> 0:06:17.960 toll from COVID itune the US rose for the first 0:06:17.960 --> 0:06:21.800 time since February, and infections climbed for a fourth straight week. 0:06:21.960 --> 0:06:25.560 Even as we see vaccination search. When you see a 0:06:25.640 --> 0:06:28.239 summary and headline like that, what do you think about 0:06:28.279 --> 0:06:30.440 where we are when it comes to COVID nineteen and 0:06:30.480 --> 0:06:34.080 getting to the other side of it. I think back 0:06:34.160 --> 0:06:38.360 to that pandemic burnout and people feeling like they are 0:06:38.480 --> 0:06:42.080 done following precautions, they're done dealing with it, they're done 0:06:42.080 --> 0:06:45.400 hearing about it. But again, you know, even as we're 0:06:45.440 --> 0:06:48.640 rolling out these vaccines, they're not a hundred percent effective, 0:06:48.720 --> 0:06:51.680 and we're all not vaccinated to the level that we 0:06:51.760 --> 0:06:55.160 need to be, and so it's important to continue following 0:06:55.160 --> 0:06:58.080 those safety protocols no matter how exhausted we are with it. 0:06:58.320 --> 0:07:01.200 You said, the vaccines is not a hundred percent effective, 0:07:01.960 --> 0:07:05.640 which is just a reminder that even if the there 0:07:05.720 --> 0:07:08.080 is that slim chance right that you can get it 0:07:08.960 --> 0:07:14.160 or there's still some concerns. Absolutely, and so getting fascinated, 0:07:14.400 --> 0:07:17.680 I believe is a really important part of the recovery 0:07:17.720 --> 0:07:21.120 process and getting past the pandemic. You know, really watching 0:07:21.120 --> 0:07:23.400 out not only for our own health, but also the 0:07:23.480 --> 0:07:27.000 health and wellness of our neighbors and co workers and 0:07:27.120 --> 0:07:31.280 friends and family members. So what about when you hear 0:07:31.320 --> 0:07:35.400 about variants and double variants. I mean, it was very 0:07:35.480 --> 0:07:37.680 much a big part of our discussions last week, and 0:07:37.720 --> 0:07:39.400 I know there's this kind of race to get the 0:07:39.480 --> 0:07:42.280 vaccine to as many people before we start to see 0:07:42.320 --> 0:07:44.600 too many variants and possibly one that could be a 0:07:44.640 --> 0:07:47.160 lot more contagious and a lot and contagious and a 0:07:47.160 --> 0:07:49.520 lot more serious. How do you approach that? How do 0:07:49.520 --> 0:07:53.680 you think about that? I think about that in the 0:07:53.760 --> 0:07:56.800 sense that we do need to really be steadfinced. We 0:07:56.920 --> 0:07:59.800 really need to move forward, and as many people as 0:08:00.000 --> 0:08:03.040 possible getting vaccinated as soon as possible is going to 0:08:03.120 --> 0:08:06.240 be key in being able to be prepared for any 0:08:06.280 --> 0:08:08.800 additional variants. What are the kind of cases that you 0:08:08.800 --> 0:08:11.520 guys are seeing UM, either on your platform or coming 0:08:11.600 --> 0:08:13.240 you know, what, what are you hearing in terms of 0:08:13.280 --> 0:08:15.520 the type of COVID cases that are coming out, because 0:08:15.520 --> 0:08:18.920 we've been hearing that it's getting to a younger population, 0:08:19.000 --> 0:08:23.160 younger demographic. But I'm curious about what you're seeing. Absolutely 0:08:23.680 --> 0:08:28.160 definitely seeing that, and we sort of see two major categories. 0:08:28.320 --> 0:08:32.840 We see people who are experiencing what we call mild cases, 0:08:32.920 --> 0:08:36.880 and then we're seeing much more extreme cases. Obviously we 0:08:36.960 --> 0:08:39.839 refer those out. Some people need to be hospitalized or 0:08:39.880 --> 0:08:43.280 have specialists for treating them. But you know, really, on 0:08:43.320 --> 0:08:46.840 the multi health platform, what we are really trying to 0:08:46.880 --> 0:08:52.280 do is UM a combined traditional medical and natural approach 0:08:52.360 --> 0:08:55.720 to treat and also optimize health and well being post 0:08:55.760 --> 0:08:58.839 COVID as well. What might be kind of the protocols 0:08:58.840 --> 0:09:01.120 in that combination in that if someone comes to your 0:09:01.160 --> 0:09:05.080 platform and whether it's stress and they're dealing with things, 0:09:05.080 --> 0:09:07.920 how do you combine kind of the traditional with kind 0:09:07.960 --> 0:09:12.320 of a more innovative form of healthcare? Absolutely such a 0:09:12.360 --> 0:09:15.720 great question. On our platform, people are able to build 0:09:15.720 --> 0:09:18.840 their entire care team, so it's really a whole person 0:09:18.960 --> 0:09:22.520 care team approach, so they're able to see both a 0:09:22.640 --> 0:09:27.040 natural path doctor or functional medicine doctor as well as 0:09:27.040 --> 0:09:31.000 a traditional primary care physician or specialist in traditional medicine, 0:09:31.520 --> 0:09:35.640 and then also different types of health coaches or wellness coaches, nutrition, 0:09:35.720 --> 0:09:38.120 mental health because it's so important to take a look 0:09:38.120 --> 0:09:41.600 at that full picture and support the whole person. Just 0:09:41.640 --> 0:09:43.760 got about forty fifty seconds left here. You know, I 0:09:43.760 --> 0:09:47.079 have conversations with friends, family, and we say some who 0:09:47.080 --> 0:09:50.040 are able to spend more time on their wellness side, 0:09:50.040 --> 0:09:53.320 whether it's exercising at home or what have you, but 0:09:53.360 --> 0:09:55.640 they're concerned about when everything gets up and running again, 0:09:55.679 --> 0:09:57.840 how do you continue to do that? What's one quick 0:09:57.880 --> 0:09:59.720 piece of advice and forgive me, you just got about 0:09:59.760 --> 0:10:04.400 thirty seconds left here. Yeah. Absolutely, I think that balance 0:10:04.559 --> 0:10:08.120 is something that's unique to each and every individual. So 0:10:08.240 --> 0:10:12.679 figuring out ways that work in your life to address 0:10:13.080 --> 0:10:18.040 mental health, emotional well being, physical health, and you know, 0:10:18.120 --> 0:10:21.000 really taking care of the whole person. And that again 0:10:21.120 --> 0:10:24.360 is going to look very different for different people, different budgets, 0:10:24.400 --> 0:10:27.640 different time availability, and that's what we really aim to 0:10:27.720 --> 0:10:29.960 address on the Moody Health platform. No matter where you 0:10:29.960 --> 0:10:32.480 are in your journey, what your needs are, we can help. 0:10:32.600 --> 0:10:34.120 All Right, Well, good to check in with you again, 0:10:34.240 --> 0:10:36.920 Stay safe and be well. Dr Rachel Do, co founder 0:10:36.960 --> 0:10:39.280 CEO of Moody Health, with us on the phone from 0:10:39.320 --> 0:10:44.160 Los Angeles. This is Bloomberg Business Week with Carol Masser 0:10:44.400 --> 0:10:49.120 and Bloomberg Quick Takes Tim Stinovich from Bloomberg Radio. Certainly, 0:10:49.160 --> 0:10:51.079 one of the big stories of the day is the 0:10:51.160 --> 0:10:53.600 chip meeting at the White House today. We've all already 0:10:53.600 --> 0:10:56.080 heard from the President, President Biden saying the US needs 0:10:56.080 --> 0:11:00.440 to address chip shortages. Meantime, the Intel CEOs the White 0:11:00.440 --> 0:11:04.239 House will work with Congress to get funds and specifically 0:11:04.679 --> 0:11:07.600 are seeing support for chip production specifically in the United States. 0:11:07.679 --> 0:11:09.520 Keep in mind, the CEO is a four GM Intel 0:11:09.520 --> 0:11:12.280 and Google. We're all at the White House today for 0:11:12.400 --> 0:11:14.640 that summit. With that in mind, and the current issue 0:11:14.679 --> 0:11:17.160 of the magazine, Bloomberg's Ian King and Tom Giles dig 0:11:17.160 --> 0:11:20.240 into Intel's new hail Mary when it comes to the 0:11:20.280 --> 0:11:23.760 semi conductor industry and specifically for their company. Toma's Bloomberg 0:11:23.800 --> 0:11:27.560 Technology Executive editor joining us from San Francisco. Also joining 0:11:27.600 --> 0:11:29.960 us Bloomberg Business Week editor Joel Webber on the access 0:11:29.960 --> 0:11:31.839 line in Brooklyn. And Joel, if you think about the 0:11:31.840 --> 0:11:35.360 semi conductor industry, the global semi industry, you gotta include 0:11:35.679 --> 0:11:39.640 Intel in any discussion. Yeah, it's really um you know, 0:11:39.880 --> 0:11:44.240 Intel has just been a powerhouse um in this industry 0:11:44.320 --> 0:11:46.960 for for decades, so they kind of go hand in hand. 0:11:47.000 --> 0:11:49.680 But but what Tom and um Ian really dug into 0:11:49.760 --> 0:11:52.920 with the story has been sort of the slow decline, 0:11:53.040 --> 0:11:56.440 especially over the last decade, as Intel has gone from 0:11:56.559 --> 0:12:00.719 sort of this um M vaunted um uh symbol of 0:12:00.760 --> 0:12:06.000 American technology and and manufacturing and and management and actually 0:12:06.040 --> 0:12:09.600 have watched it sort of slowly fade uh and and 0:12:09.720 --> 0:12:13.360 kind of into this existential moment. And that's certain really 0:12:13.400 --> 0:12:16.840 where this story came into being. And you know, we've 0:12:17.040 --> 0:12:19.760 had so much attention on on chips in general. UM, 0:12:20.040 --> 0:12:22.680 we have to kind of talk about the American elephant 0:12:22.720 --> 0:12:26.000 in that room, which which is Intel. UM tom twenty 0:12:26.120 --> 0:12:29.079 billion dollars they've laid out as sort of their path 0:12:29.240 --> 0:12:32.120 to the future. UM. How much hope do you put 0:12:32.120 --> 0:12:38.080 in that number? Well, you know, look until has the money, UM, 0:12:38.200 --> 0:12:40.640 and they still throw off a lot of cash from 0:12:40.640 --> 0:12:44.320 their existing business. UM. So I have no doubt that 0:12:44.320 --> 0:12:48.120 they're going to throw a lot of money at this problem. UM. 0:12:48.280 --> 0:12:51.480 The challenge for them is that they have slipped in 0:12:52.280 --> 0:12:56.480 production of the most advanced ships. And just how quickly 0:12:56.960 --> 0:12:58.679 can you You can throw a lot of money at 0:12:58.679 --> 0:13:01.000 the problem, but how quickly can you get these new 0:13:01.480 --> 0:13:05.719 um fabs, these new ship production plants up and running UM. 0:13:05.760 --> 0:13:08.720 And how quickly can you fix the technology that they've 0:13:08.720 --> 0:13:12.599 fallen behind? You know, making these chips smaller and smaller 0:13:12.920 --> 0:13:16.640 every cycle becomes harder and harder and harder to do 0:13:16.760 --> 0:13:19.600 at the scale that Intel needs to do it. Remember, 0:13:19.600 --> 0:13:22.040 they're the main supplier to the to the to the 0:13:22.080 --> 0:13:25.679 servers and the computers around the world. UM. And the 0:13:25.720 --> 0:13:28.600 fact of the matter is other companies have just gotten 0:13:28.720 --> 0:13:32.680 faster and better than they are at cranking these things 0:13:32.720 --> 0:13:35.439 out at scale, and that's the that's the real challenge 0:13:35.520 --> 0:13:38.439 that they have. Right now. What's great about this story, Um, 0:13:38.480 --> 0:13:40.680 there's so much and I can only imagine the individuals 0:13:40.679 --> 0:13:42.640 you talk to it because there's so much insight into 0:13:42.679 --> 0:13:46.680 the different CEOs and the different stumbles that Intel did 0:13:46.720 --> 0:13:50.120 after just kind of owning I feel like the semiconductor 0:13:50.200 --> 0:13:53.600 industry you talk specifically, I feel like about a major 0:13:53.640 --> 0:13:57.280 blunder Tom and that was Apple's the misstep it did 0:13:57.280 --> 0:13:59.760 with Apple by not linking up with them. How big 0:13:59.760 --> 0:14:03.280 of a how how much did that set them back? Yeah? 0:14:03.400 --> 0:14:07.520 So when it comes to mobile chips, um, that is 0:14:07.559 --> 0:14:13.000 an area where Until just tried and tried again many 0:14:13.040 --> 0:14:16.160 times to get a told in that market. One of 0:14:16.160 --> 0:14:19.480 the early one of the early instances that we talked 0:14:19.480 --> 0:14:23.440 about in the story is when the former CEO, a 0:14:23.440 --> 0:14:25.880 guy by the name of Paul o'dalini, was you know, 0:14:26.480 --> 0:14:29.320 this is before the smartphone introduction, right in the mid 0:14:29.360 --> 0:14:33.000 two thousands. This is when Steve Jobs, the founder of Apple, 0:14:33.520 --> 0:14:36.440 came to Intel and said, Okay, we want to cut 0:14:36.440 --> 0:14:38.800 a deal with you to make chips for our phone. 0:14:40.200 --> 0:14:42.840 And Paul and Paul o'dalini just just balked at it. 0:14:42.920 --> 0:14:45.160 He said he wasn't pleased with the terms of that. 0:14:45.560 --> 0:14:49.320 That ended up being a really um, you know, really 0:14:49.400 --> 0:14:53.440 landmark decision and one that has worked against them, mainly 0:14:53.480 --> 0:14:56.400 because what it did is as this business went to 0:14:56.480 --> 0:15:00.440 other companies, first Stamp Sung and then later this company 0:15:00.520 --> 0:15:04.720 in Taiwan called Taiwan Semiconductor Manufacturing Company. When you win 0:15:04.840 --> 0:15:08.760 the contract to supply Apple, a lot comes with that. 0:15:08.800 --> 0:15:11.760 You get, part of you get, you get into this ecosystem, 0:15:11.960 --> 0:15:15.920 and you gained the ability to really be the point, 0:15:16.120 --> 0:15:21.760 the point, the supplier for this incredibly you know, fast 0:15:21.880 --> 0:15:24.960 moving market which was smartphones. I mean, remember what it 0:15:25.040 --> 0:15:28.760 was like when when you know, fifteen years ago, when 0:15:28.760 --> 0:15:32.280 these when this was taking up, everybody was just rushing 0:15:32.320 --> 0:15:35.200 to get these and that created a lot of business 0:15:35.280 --> 0:15:39.840 for the semiconductor industry. So so Tom, you know, they 0:15:39.880 --> 0:15:43.200 missed that moment which became sort of the beginning of 0:15:43.240 --> 0:15:47.440 the mobile revolution. Um And you know, as you as 0:15:47.440 --> 0:15:49.760 you both write in the story, you know, Intel's predicament 0:15:49.840 --> 0:15:52.040 didn't come about overnight. It's been a consequence of a 0:15:52.080 --> 0:15:56.280 decade's worth of missteps. One of my most favorite elements 0:15:56.280 --> 0:15:59.800 of this story and what I think we do, especially 0:15:59.800 --> 0:16:02.360 while the magazine are these sort of like case studies 0:16:02.400 --> 0:16:05.240 and and this one really feels like a management case studies. 0:16:05.280 --> 0:16:07.280 So when you step back and you know, having covered 0:16:07.280 --> 0:16:10.520 this company for years now, if you approach it through 0:16:10.560 --> 0:16:13.000 that case study, lens, what are some of the big 0:16:13.040 --> 0:16:17.360 management take takeaways that you think, um, you know readers 0:16:17.440 --> 0:16:20.280 will find most interesting here. And please talk about Brian 0:16:20.360 --> 0:16:25.560 kay sure. Well, before we talked about Brian Cresentits, you 0:16:25.560 --> 0:16:27.800 have to go back to Andy Grove. He was one 0:16:27.800 --> 0:16:30.200 of the original founders of Intel and one of its 0:16:30.280 --> 0:16:34.520 longest lasting CEO. And he was legendary UM specifically for 0:16:34.720 --> 0:16:38.920 he was very demanding. UM. He you know, he was 0:16:39.000 --> 0:16:44.520 he was very disciplined, UM. And he ran Intel. You know, 0:16:44.600 --> 0:16:49.440 he was seen as a one of the early management 0:16:49.480 --> 0:16:54.560 guru UM, after whom many of the biggest tech executives 0:16:54.600 --> 0:16:58.720 out there right now patterned their management style. UM. The 0:16:58.800 --> 0:17:01.320 thing that was interesting he could be very demanding, but 0:17:01.400 --> 0:17:04.679 he was also he also insisted on listening to people 0:17:05.680 --> 0:17:08.639 tell him about what was wrong with the company. He 0:17:08.760 --> 0:17:11.280 called them the Cassandra's right. These are the people who 0:17:11.320 --> 0:17:13.440 otherwise wouldn't get listened to. And they were the ones 0:17:13.480 --> 0:17:15.520 who were, you know, on the front lines of talking 0:17:15.560 --> 0:17:18.840 to customers. For example, they would come and say, hey, 0:17:18.880 --> 0:17:20.800 this is what's wrong with the company, this is what's 0:17:20.840 --> 0:17:25.920 wrong with what's happening. Later in Intel's life, a CEO 0:17:26.119 --> 0:17:30.520 came into you know, came rose to the top, Brian Krisanitch. 0:17:31.119 --> 0:17:35.960 He hadn't been steeped in as closely in Andy Grove's 0:17:36.119 --> 0:17:39.240 Philosophy of the World's Andy Grove's view of how to 0:17:39.320 --> 0:17:43.639 manage a company. He had a lot of space in 0:17:43.760 --> 0:17:47.919 Intel's capabilities, some of which was well founded. Intel was 0:17:47.960 --> 0:17:51.720 an incredibly capable company. But what started to happen is 0:17:51.760 --> 0:17:55.200 people came into his orbit who started to tell him, um, 0:17:55.240 --> 0:17:59.359 we're seeing problems in our ability to keep producing these 0:17:59.480 --> 0:18:03.920 really band's chips, arms are are basically our factories are 0:18:03.920 --> 0:18:07.600 not up to the town. And he was very dismissive 0:18:07.600 --> 0:18:11.520 of that and failed to listen to the cassandras. So 0:18:11.720 --> 0:18:16.160 a takeaway here is find people in an organization who 0:18:16.200 --> 0:18:20.600 will be honest with you about what the company is 0:18:20.640 --> 0:18:23.840 doing well and what it's doing poorly, and when they 0:18:23.880 --> 0:18:27.159 come to you with bad news, don't be dismissive of it, 0:18:27.640 --> 0:18:30.359 listening to them and find out is there reason for this? 0:18:30.960 --> 0:18:34.359 It is an incredible read through and I highly recommend 0:18:34.400 --> 0:18:36.879 it and I'll retweet it out on Twitter. But so 0:18:37.000 --> 0:18:40.360 much interesting and in depth information about what went on 0:18:40.680 --> 0:18:42.080 at Intel to kind of get it to where it 0:18:42.119 --> 0:18:44.800 is today. Um, guys, thank you so much. Tom Giles, 0:18:44.960 --> 0:18:48.560 Bloomberg Technology Executive Editor, Joe Webber, Editor Bloomberg Business Week. 0:18:52.880 --> 0:18:56.960 This is Bloomberg Business Week with Carol Messer and Bloomberg 0:18:57.000 --> 0:19:02.000 Quick Takes Tim Stenovik on Bloomberg Radio. You are listening 0:19:02.000 --> 0:19:04.520 to Bloomberg Business Week. I'm Carol Master Mica. Host Tim 0:19:04.520 --> 0:19:07.640 Stanovic is out today. Well. One of the things, though 0:19:07.680 --> 0:19:09.880 that has definitely been on my radar is just watching 0:19:10.040 --> 0:19:12.520 all of the back and forth between the US and 0:19:12.600 --> 0:19:16.000 China and the relationship. The ascent of China specifically, though 0:19:16.200 --> 0:19:18.560 not a new concept, and yet the approach taken by 0:19:18.640 --> 0:19:21.679 China has provided a lot of fodder for discussion. In 0:19:21.720 --> 0:19:24.960 his latest column, Bloomberg New Economy Editorial director Andy Brown 0:19:25.040 --> 0:19:29.000 notes that the Summer and Winter Games in Beijing book 0:19:29.040 --> 0:19:31.240 and a period of history when it comes to China's 0:19:31.240 --> 0:19:33.359 approach to the rest of the world. We love this. 0:19:33.400 --> 0:19:35.919 We talked about this and his column a lot on 0:19:35.920 --> 0:19:37.919 our planning call this morning, and he joins us on 0:19:37.960 --> 0:19:41.359 the phone in New York City. UM, Andy so talked 0:19:41.400 --> 0:19:45.040 to us about this because the idea that Beijing is 0:19:45.040 --> 0:19:47.000 going to be hosting both games. I mean, there's a 0:19:47.000 --> 0:19:49.919 lot going on here in terms of what we can feel, 0:19:50.480 --> 0:19:53.560 you know, kind of Beijing's approaches to the world at large. 0:19:53.560 --> 0:19:57.240 It's not just about the Olympic Games. It's it's not 0:19:57.440 --> 0:20:02.280 just about the Olympics. The Olympics obviously the massively political 0:20:02.800 --> 0:20:05.280 it's it's it's it's It's worth noting though that that 0:20:05.440 --> 0:20:07.439 you know, Beijing is going to be the first city 0:20:07.680 --> 0:20:11.920 in the world to host both the Summer Olympics, which 0:20:11.920 --> 0:20:13.600 you did in two thousand and eight. I was there 0:20:13.640 --> 0:20:17.000 at the time, and the Winter Olympics, which are coming 0:20:17.080 --> 0:20:20.560 up in in February next year. UM. It's also worth 0:20:20.680 --> 0:20:24.480 noting that, um, they're going to repurpose quite a few 0:20:24.520 --> 0:20:27.800 of the buildings that these iconic structures that were built 0:20:27.840 --> 0:20:30.880 for two thousand and eight, like the water Cube, which 0:20:30.920 --> 0:20:34.800 was this amazing sort of box covered in bubble wrap 0:20:35.720 --> 0:20:38.840 that was the host of the swimming and the diving 0:20:39.080 --> 0:20:41.280 competition that's not going to be. So the water cube 0:20:41.320 --> 0:20:43.879 is not going to be the ice cube. Uh. And 0:20:43.960 --> 0:20:46.600 the bird's nest, which was wrapped up in the sort 0:20:46.640 --> 0:20:50.480 of all these you know, this intricate steel lattice looking 0:20:50.520 --> 0:20:53.800 like twigs, Um, that's now going to be you know, 0:20:53.880 --> 0:20:57.399 repurposed as the venue for the opening and closing ceremonies 0:20:57.440 --> 0:21:00.680 of of the Winter of the Winter Olympics. That's what's 0:21:00.720 --> 0:21:04.280 going to be the same. The politics and the context 0:21:04.480 --> 0:21:08.240 between these two events could not be more different. As 0:21:08.240 --> 0:21:10.439 I said in the column, they bookend this period of 0:21:10.520 --> 0:21:15.359 history where China goes from being quite deferential um to 0:21:15.440 --> 0:21:18.320 the rest of the world, particularly to to the West 0:21:18.400 --> 0:21:23.920 and the United States, to being very much defiant and um, 0:21:23.960 --> 0:21:27.040 you know taking this you you you know, you you 0:21:26.800 --> 0:21:28.440 we we are not going to We're not going to 0:21:28.520 --> 0:21:31.600 tolerate a boycott. Well what's really wild is, you know, 0:21:31.760 --> 0:21:34.159 just going back to the earlier games, you talk about 0:21:34.160 --> 0:21:37.680 how they really embraced Western architects. I mean they really 0:21:37.760 --> 0:21:40.280 were kind of you know, a big hug to the 0:21:40.280 --> 0:21:42.560 world to say, yep, we're doing this, but we love 0:21:42.600 --> 0:21:45.119 you the world. At the same time, but this time around, 0:21:45.359 --> 0:21:49.760 it's got a different feel. It was amazing watching Beijing 0:21:49.800 --> 0:21:53.040 being reinvented for the two thousand and eight Olympics. They 0:21:53.040 --> 0:21:56.119 took the axis of the city which on the Mao 0:21:56.160 --> 0:22:00.720 and subsequent leaders had gone east west. They sort of 0:22:00.760 --> 0:22:03.399 along the Avenue of Eternal Peace. They built a lot 0:22:03.400 --> 0:22:08.399 of the old ministries, Ministry of Telecommunications, museums, hotels, and 0:22:08.400 --> 0:22:12.040 so on. And they literally spun Beijing around so that 0:22:12.119 --> 0:22:15.600 it sits down and on a north south axis which 0:22:15.680 --> 0:22:22.320 accentuates all of these historical venues in Beijing, the Forbidden City, 0:22:22.720 --> 0:22:26.240 the ancient gateways, some of the palaces. But the guy 0:22:26.280 --> 0:22:30.200 who did that, the architect who did that was a German, right, Uh? 0:22:30.359 --> 0:22:32.000 Is that it's actually I believe it or not. It 0:22:32.119 --> 0:22:36.600