WEBVTT - The Dangers of “Toxic Communication” on Twitter 0:00:00.240 --> 0:00:03.240 This is Bloomberg Business Week. I'm Carol Masser. Every day 0:00:03.279 --> 0:00:05.200 we're bringing you the latest news from the world of 0:00:05.200 --> 0:00:08.920 business and finance, plus technology, politics. So much going on 0:00:08.960 --> 0:00:12.160 in the world of politics, economics, and it's all harnessing 0:00:12.160 --> 0:00:14.840 the power of Business Week reporters and editors. If you 0:00:14.840 --> 0:00:18.280 can download Bloomberg Business Week on iTunes, SoundCloud, or Bloomberg 0:00:18.320 --> 0:00:20.480 dot com. If you can also listen to our radio 0:00:20.520 --> 0:00:23.439 show at two pm Eastern on Bloomberg Radio, and be 0:00:23.440 --> 0:00:26.320 sure to watch us too on YouTube by searching Bloomberg 0:00:26.360 --> 0:00:29.280 Global News. J and Jay. Is highly anticipated single dose 0:00:29.360 --> 0:00:34.120 Kevin nineteen vaccine may not be authorized for use until March. 0:00:34.240 --> 0:00:39.680 That's weeks later than US officials have suggested. No. But 0:00:39.800 --> 0:00:41.640 you know, as every day goes by, you're so good 0:00:41.640 --> 0:00:43.680 at like counting the numbers of the deaths that we 0:00:43.720 --> 0:00:46.040 see and people who come down with it, so you know, 0:00:46.520 --> 0:00:48.959 simple math that could be you know what I mean, 0:00:49.000 --> 0:00:51.000 Like every day that goes by, I'm not trying to know. 0:00:51.200 --> 0:00:53.320 I mean, look, it's important we do the bite of 0:00:53.320 --> 0:00:55.520 the day here on the radio and on on Quick Take. 0:00:55.600 --> 0:00:57.760 We do by the numbers, and the number today was 0:00:58.000 --> 0:01:01.480 you know over it's a number of deaths yesterday. It's 0:01:01.480 --> 0:01:03.760 pretty it's pretty remarkable. It's pretty remarkable. And if we 0:01:03.880 --> 0:01:05.720 take a look at numbers right now, we've got cases 0:01:06.000 --> 0:01:10.399 of COVID nineteen topping now. Million deaths are passing one 0:01:10.400 --> 0:01:13.039 point nineties six million. That's a global number, and the 0:01:13.080 --> 0:01:15.680 vaccine tracker more than thirty point five million shots have 0:01:15.760 --> 0:01:18.520 been given worldwide. Lots going on. Let's see what our 0:01:18.520 --> 0:01:20.240 guest has to say about all of this. Dr Kirk 0:01:20.240 --> 0:01:22.760 Garrett is medical director of the Center for Heart and 0:01:22.800 --> 0:01:26.360 Vascular Health at the Christiana Care Health System. He spent 0:01:26.440 --> 0:01:29.200 seventeen years at the Mayo Clinic clinic excuse me, and 0:01:29.280 --> 0:01:30.920 was a member of the team of physicians who first 0:01:30.920 --> 0:01:34.200 performed minimally invasive heart procedures there. He joined this on 0:01:34.200 --> 0:01:37.399 the phone from Wilmington, Delaware. Dr Garrett, nice to have 0:01:37.440 --> 0:01:40.559 you here with Tim and myself. How are you and 0:01:40.640 --> 0:01:42.840 what are you seeing when it comes to COVID nineteen 0:01:42.880 --> 0:01:46.440 and your patients? Well, thanks for having me with you today. 0:01:46.520 --> 0:01:49.320 It's a pleasure. Of course. We're all struggling here to 0:01:49.320 --> 0:01:51.920 stay ahead of this. And the good news is I 0:01:51.960 --> 0:01:54.120 think that we're in most communities we're getting to a 0:01:54.160 --> 0:01:59.160 place where the peak of this resurgence period is coming 0:01:59.160 --> 0:02:01.560 into focus now as we start to roll out vaccines. 0:02:01.600 --> 0:02:04.400 As you were just discussing, we're optimistic that we're going 0:02:04.400 --> 0:02:06.920 to get control of this, but of course we have 0:02:07.160 --> 0:02:10.400 many weeks, probably many months ahead of us to still 0:02:10.440 --> 0:02:12.240 manage this disease. What do you mean when you say 0:02:12.280 --> 0:02:15.520 many weeks, many months? I mean are we talking like, um, 0:02:15.760 --> 0:02:17.760 return to normalcy at the end of the summer or 0:02:17.800 --> 0:02:18.799 we am I going to be able to see my 0:02:18.840 --> 0:02:23.359 parents at the beginning of the summer. What's going on here? Yeah, 0:02:23.480 --> 0:02:25.960 you know, at this point, really it's anybody's guests, you know. 0:02:26.360 --> 0:02:28.880 But what we do have as a pledge from government officials, 0:02:29.000 --> 0:02:32.040 both the current administration and the incoming administration to accelerate 0:02:32.080 --> 0:02:35.560 the rollout of the current stock of vaccinations, and that's 0:02:35.720 --> 0:02:38.200 very good news. Of course, we have to assure that 0:02:38.240 --> 0:02:41.840 we reserve enough to be sure everybody gets not one, 0:02:41.840 --> 0:02:44.680 but two injections. And then importantly, we have to continue 0:02:44.680 --> 0:02:48.920 production so that we as we use up the supply currently, 0:02:49.080 --> 0:02:51.880 that we can replace it at the rate that's needed. Right, 0:02:52.240 --> 0:02:54.440 government that we were going to do that, yeah, well, 0:02:54.440 --> 0:02:56.880 you know, the US government now wanting to offer vaccines 0:02:56.919 --> 0:03:00.560 to millions more Americans, and so we're talking about reducing 0:03:00.560 --> 0:03:03.400 the age and opening it up. We're now clearing a 0:03:03.400 --> 0:03:06.480 path for about twenty eight million more Americans to be vaccinated. 0:03:06.560 --> 0:03:09.160 Sounds good, right, opening it up. But at the same time, 0:03:09.440 --> 0:03:10.760 I think now we're like, wait a minute, do we 0:03:10.760 --> 0:03:15.280 have enough supply there? What are you hearing on that front? Well, 0:03:15.280 --> 0:03:17.160 I think we're hearing the same thing you are. We 0:03:17.200 --> 0:03:21.040 don't have any special conduit into the government administrative leaders here, 0:03:21.440 --> 0:03:23.440 and they're really the ones who are in charge. I 0:03:23.440 --> 0:03:26.040 think the War Production Act is is obviously a very 0:03:26.080 --> 0:03:28.840 important lever that's at the dispose of the administration to 0:03:28.880 --> 0:03:31.239 see to it that we can keep up production is needed. 0:03:31.639 --> 0:03:34.160 And we're all hoping that that happens quickly, but it 0:03:34.240 --> 0:03:37.320 hasn't so far. Yeah, Yeah, And I think that's been 0:03:37.400 --> 0:03:39.440 I think it's been a real challenge for for Americans. 0:03:39.440 --> 0:03:41.760 I mean, I know from my own perspective, just trying 0:03:41.760 --> 0:03:44.840 to think about what a realistic timeline here is for 0:03:45.000 --> 0:03:48.760 widespread vaccination. Here we are in January, it's been almost 0:03:48.800 --> 0:03:52.640 a year since this pandemic has absolutely changed the way 0:03:52.640 --> 0:03:54.280 that we live and change the way that we work 0:03:54.320 --> 0:03:57.280 and change the way that we travel, and we still 0:03:57.400 --> 0:03:59.880 don't know when we are going to see widespread inoculation. 0:04:00.200 --> 0:04:02.520 And I think it's just I think it's difficult for Americans. 0:04:02.520 --> 0:04:04.000 I mean, we asked, we have this conversation every day. 0:04:04.000 --> 0:04:07.400 We asked questions like what can we do to stop 0:04:07.400 --> 0:04:09.800 the spread until we get vaccinated? And you know, we 0:04:09.880 --> 0:04:11.400 hear the same thing over and over again, but it's 0:04:11.480 --> 0:04:16.880 it's not working, because yesterday was another record for deaths. Yeah, 0:04:16.960 --> 0:04:18.960 and you know, um, one of the parts of the 0:04:19.000 --> 0:04:21.400 conversation that I think hasn't gotten enough attention is that 0:04:21.440 --> 0:04:25.279 we we talk about the the excess mortality that's occurred 0:04:25.279 --> 0:04:28.039 in twenty as a result of this COVID nineteen pandemic. 0:04:28.080 --> 0:04:31.080 And typically what we're doing was recounting up the number 0:04:31.080 --> 0:04:33.320 of people we know to have died as a direct 0:04:33.400 --> 0:04:36.720 result of being infected. And that's tragic, and the number 0:04:36.760 --> 0:04:38.960 as huge, as you know, over the three hundred thousand 0:04:39.680 --> 0:04:43.560 estimate that was made early in we exceeded that. And 0:04:43.640 --> 0:04:45.719 you have the part of the conversation that I don't 0:04:45.960 --> 0:04:50.200 think we focused on those deaths that we know to 0:04:50.320 --> 0:04:54.560 be to have occurred in excess of expectations, but which 0:04:54.560 --> 0:04:58.400 are not attributable directly to a COVID nineteen infection. Well, well, 0:04:58.480 --> 0:05:01.720 why would that happen? Well has happened because COVID nineteen, 0:05:01.760 --> 0:05:04.119 in addition to making a whole lot of people very sick, 0:05:04.520 --> 0:05:08.240 has disrupted the usual provision of care for people with 0:05:08.320 --> 0:05:12.040 chronic conditions, and that's allowed them to decline and deteriorate 0:05:12.120 --> 0:05:16.520 and in some cases die. The Society for Cardiovascular Angiography 0:05:16.560 --> 0:05:19.800 and Intervention that I work with closely conducted a survey 0:05:19.839 --> 0:05:23.200 in March of twenty and found that an alarming percentage 0:05:23.240 --> 0:05:25.480 of people he said that even if they thought they 0:05:25.520 --> 0:05:27.360 were having a stroke or a heart attack, they would 0:05:27.400 --> 0:05:30.880 not go to a hospital because they were so afraid. Well, that, 0:05:31.040 --> 0:05:34.560 obviously is is a very dangerous proposition, and indeed we 0:05:34.640 --> 0:05:38.080 now know that many people did die as a consequence 0:05:38.240 --> 0:05:42.360 of delay of care. We repeated a survey in December 0:05:42.680 --> 0:05:45.400 and found that there have been improvements and fewer people 0:05:45.480 --> 0:05:48.039 are saying that they would be quite as reluctant, but 0:05:48.160 --> 0:05:51.200 still one in four Americans say they're still so afraid 0:05:51.240 --> 0:05:54.039 of COVID nineteen they won't even see their regular doctor 0:05:54.120 --> 0:05:57.160 in a regular doctor's appointment, and if you look at 0:05:57.200 --> 0:06:01.200 respondents who are African American or Latino, that number jumps 0:06:01.240 --> 0:06:04.839 to So we clearly have a lot of work yet 0:06:04.880 --> 0:06:07.599 to do to convince Americans that it's safe to remain 0:06:07.640 --> 0:06:10.599 engaged in routine healthcare, which we know is the key 0:06:10.720 --> 0:06:13.680 to surviving heart and basket or disease. Dr Garrett, One 0:06:13.680 --> 0:06:17.360 thing that I'm curious about is the financial strain that 0:06:17.520 --> 0:06:21.200 the COVID nineteen pandemic has had on healthcare systems. What 0:06:21.200 --> 0:06:24.080 are the changes that you've had to make at the 0:06:24.080 --> 0:06:26.320 Center for Heart and Vascular Health that the Christianity Care 0:06:26.400 --> 0:06:29.440 health System because of the different ways that you guys 0:06:29.480 --> 0:06:33.880 are prioritizing care. Well, you know, of course, it was 0:06:34.080 --> 0:06:37.480 it was a very substantial financial blow for healthcare systems 0:06:37.520 --> 0:06:40.880 across America when the when the pandemic broke out, and 0:06:41.040 --> 0:06:44.680 that was in large measure because the United States health 0:06:44.680 --> 0:06:47.440 system had to respond what it saw happening in places 0:06:47.480 --> 0:06:51.800 like New York City, which became quickly overrun with COVID 0:06:51.880 --> 0:06:54.960 nineteen victims. In order to prepare for that in every 0:06:54.960 --> 0:06:58.880 community in America, then hospitals went about emptying out their hospitals. 0:06:58.920 --> 0:07:02.440 They stopped doing usual work, no more hip replacements, no 0:07:02.480 --> 0:07:04.880 more elective persus. Is that the right thing to do 0:07:04.960 --> 0:07:08.320 at the time, Yes, I think at that moment it 0:07:08.360 --> 0:07:10.440 was absolutely the right thing to do, because no one 0:07:10.520 --> 0:07:13.760 knew what was coming, so we had to prepare for 0:07:13.800 --> 0:07:17.040 the worst case scenario, and we did. Now. Happily, most 0:07:17.040 --> 0:07:19.840 communities didn't suffer to the degree that New York City did, 0:07:19.880 --> 0:07:22.200 and we learned then through the spring and summer that 0:07:22.320 --> 0:07:24.400 indeed we didn't have to empty out all the beds. 0:07:24.440 --> 0:07:27.880 We could continue to provide normal services, just to care 0:07:27.920 --> 0:07:30.680 for neighbors in our communities and deliver the care that 0:07:30.720 --> 0:07:33.560 they needed, while also taking care of all the COVID 0:07:33.640 --> 0:07:36.960 nineteen patients. So we've we've learned those lessons, and at 0:07:37.000 --> 0:07:40.840 Christianitic Care, like other health systems, we've now remodeled our 0:07:40.880 --> 0:07:44.200 care delivery plan to accommodate both a large number of 0:07:44.200 --> 0:07:47.720 COVID nineteen patients and also be able to sustain care 0:07:47.760 --> 0:07:51.000 delivery for patient patients in need of other services. So 0:07:51.040 --> 0:07:54.360 how do you do that safely? Well, you know, it's 0:07:54.400 --> 0:07:56.720 actually not as hard as you might imagine. You've got 0:07:56.720 --> 0:07:59.000 to remember health care has been in the business of 0:07:59.040 --> 0:08:02.960 taking care of people around infectious diseases for hundreds of years. 0:08:03.000 --> 0:08:06.000 We know how to do this safely. Of course, when 0:08:06.000 --> 0:08:08.840 you have a brand new novel infectious agent like COVID 0:08:08.880 --> 0:08:12.320 nineteen breakthrough and you don't know how overwhelmed you might be, 0:08:12.720 --> 0:08:14.800 you pull out all the stops to prepare for the worst. 0:08:14.880 --> 0:08:18.400 Is mentioned. But now we understand what the magnitude of 0:08:18.440 --> 0:08:21.600 the of the resurgence is likely to be for us 0:08:21.640 --> 0:08:25.320 in our community, and we of course understand what safeguards 0:08:25.400 --> 0:08:27.800 need to be in place to take care of COVID 0:08:27.880 --> 0:08:31.360 and non COVID patients. Not quite side by side, that's 0:08:31.360 --> 0:08:34.439 a bit of hyperbole, but in the same setting, in 0:08:34.480 --> 0:08:38.160 the same building, sometimes even on the same hospital floors, 0:08:38.720 --> 0:08:40.640 and we can do that safely, and we are doing 0:08:40.640 --> 0:08:44.000 that safely. So there's obviously the health of your patients 0:08:44.080 --> 0:08:47.080 COVID and non COVID that you guys are certainly focused 0:08:47.080 --> 0:08:49.040 on at this point. There's also the health of you know, 0:08:49.120 --> 0:08:53.160 your institution. And Bloomberg has done so much reporting. Back 0:08:53.160 --> 0:08:55.800 in April we had stories about hospitals racing to secure 0:08:55.840 --> 0:08:58.120 big credit lifelines from Wall Street. And we're not talking 0:08:58.120 --> 0:09:02.280 about two smaller institutions, but like New York Presbyterian Hospital. Financially, 0:09:02.320 --> 0:09:05.439 there's been some strains too because people aren't doing those 0:09:05.920 --> 0:09:08.640 you know, kind of routine procedures. How strained are you 0:09:08.679 --> 0:09:10.840 guys feel feeling financially? And I know you can't speak 0:09:10.880 --> 0:09:13.559 for the hospital overall, but you are director of your 0:09:13.640 --> 0:09:16.120 particular area and probably see a lot of what's happening 0:09:16.200 --> 0:09:20.079 or not happening and the strains as a result. Sure, 0:09:20.120 --> 0:09:21.880 and I think it's fair to say that Heart and 0:09:21.960 --> 0:09:25.200 Basket Or services and healthcare system are an important component 0:09:25.240 --> 0:09:28.240 to the vitality of the organization. Uh And I will 0:09:28.240 --> 0:09:30.760 say that at the onset of this pandemic, we have 0:09:30.840 --> 0:09:35.320 christianit Care here. I emptied out every impatient bed that 0:09:35.360 --> 0:09:38.240 I had for heart vascular care in order to be 0:09:38.280 --> 0:09:41.679 ready to take care of an overwhelming pandemic. And it 0:09:41.760 --> 0:09:44.360 was the right thing to do. It came with financial consequences, 0:09:44.920 --> 0:09:48.120 but we prepared, We were prepared to face that. Now, 0:09:48.240 --> 0:09:50.640 of course, we don't have to do that. And although 0:09:51.040 --> 0:09:54.320 one of four floors dedicated to Heart and Basket or 0:09:54.320 --> 0:09:57.520 Care is still fully dedicated to COVID care, currently one 0:09:57.640 --> 0:10:03.000 one of four Heart and BASKETAR floors and the service 0:10:03.040 --> 0:10:07.200 as a usual man. Not where we were last year, 0:10:07.720 --> 0:10:09.920 and certainly not where we would like to be. But 0:10:09.960 --> 0:10:14.160 we're more important even than the financial balance of this. 0:10:14.800 --> 0:10:17.040 We want to be sure that we're providing the services 0:10:17.040 --> 0:10:19.360 that are needed by our community and and that we 0:10:19.440 --> 0:10:22.560 feel we were able to meet today. Um. Dr Garrett, 0:10:22.600 --> 0:10:24.040 have you I just want to end with this. We 0:10:24.040 --> 0:10:28.800 don't have much time. Have you taken the vaccine yet? Yes? 0:10:28.920 --> 0:10:30.679 I happily got my first shot about a week and 0:10:30.720 --> 0:10:32.200 a half ago, and I can't wait to get the next. 0:10:32.440 --> 0:10:37.360 All right, there it is. I can't wait either first, Yeah, 0:10:37.400 --> 0:10:40.760 exactly right. Sooner, sooner, hope hopefully rather than later. Dr 0:10:40.840 --> 0:10:42.640 Kirk Garrett, thank you so much, Medical director of the 0:10:42.679 --> 0:10:44.960 Center for Heart and Vascular Health at the Christiana Care 0:10:44.960 --> 0:10:48.160 Health System. Joining us on the phone from Wilmington, Delaware. 0:10:48.320 --> 0:10:53.120 This is Bloomberg Business Week with Carol Messer from Bloomberg Radio. Well, 0:10:53.160 --> 0:10:55.720 this week's cover story is about the love affair between 0:10:55.720 --> 0:10:59.720 Elon Muskin China. So far, so good, and yet time 0:10:59.760 --> 0:11:02.640 we'd how longer term? Let's hear more though with Bloomberg 0:11:02.679 --> 0:11:05.240 Business Week Features editor Max Chaffin. He's one of the 0:11:05.360 --> 0:11:07.640 editors on this story. He's on the phone, and Queen's 0:11:07.920 --> 0:11:10.000 along with Bloomberg Business. We getittor Joe Webber on the 0:11:10.040 --> 0:11:12.959 access line in Brooklyn. I should point out several reporters 0:11:13.000 --> 0:11:16.720 contributing to this story, including Hayes Fan who's a member 0:11:16.720 --> 0:11:20.560 of Bloomberg News is Beijing Bureau, who contributed before being 0:11:20.559 --> 0:11:23.520 detained by Chinese authorities in December. So we did want 0:11:23.520 --> 0:11:26.320 to put that out there. Um, it's an important story, 0:11:26.360 --> 0:11:28.679 and I feel like that note in terms of our 0:11:28.720 --> 0:11:32.680 reporters just reminds us of kind of the love affair 0:11:32.880 --> 0:11:36.160 and the conflict that we kind of have with China 0:11:36.280 --> 0:11:40.600 constantly here, including potentially maybe Joel Ellen Musk and Tesla 0:11:40.679 --> 0:11:44.720 going forward. Yeah, and the story is a real repeating, 0:11:45.000 --> 0:11:50.920 a real reporting um feat and the story is ultimately 0:11:50.960 --> 0:11:56.320 about how Tesla um and trying to find themselves in 0:11:56.400 --> 0:12:00.680 this little love affair. And UM hence why our cover 0:12:00.760 --> 0:12:05.040 line is China's favorite Capitalist and that refers to Elon 0:12:05.120 --> 0:12:11.080 Musk and China has really given Tesla just an amazing 0:12:11.120 --> 0:12:16.679 amount of autonomy that most Western companies don't enjoy um 0:12:16.679 --> 0:12:20.760 when they do business in China, and it's been rewarded 0:12:21.120 --> 0:12:25.640 um by being able to have this autonomy, and Tesla's 0:12:25.679 --> 0:12:30.120 behaved basically by by having its own Tesla, Chinese operation 0:12:30.280 --> 0:12:36.520 basically become almost autonomous within UM within Tesla itself. UM. 0:12:36.760 --> 0:12:38.880 But you know what what this really comes down to 0:12:39.080 --> 0:12:42.080 is you know what's in it for China here? And 0:12:42.360 --> 0:12:44.240 bring Max in on that note. You know, one of 0:12:44.320 --> 0:12:47.440 the things that China has been able to accomplish here 0:12:47.520 --> 0:12:51.560 is to almost use Tesla as uh, you know, like 0:12:51.600 --> 0:12:54.600 almost like a whipping agent that it can kind of 0:12:54.720 --> 0:12:58.760 kick the rest of it's ev aspirations into ligne with Max. 0:12:59.040 --> 0:13:02.400 What what is is the in game? Um, both for 0:13:02.400 --> 0:13:05.719 for Elon and for China. Do you think so? On 0:13:05.760 --> 0:13:08.520 the China side, Uh, there are there are a few things. 0:13:08.520 --> 0:13:11.760 So so one, as you said, uh, Chinese government is 0:13:12.000 --> 0:13:15.960 very committed to electric vehicles. So so that means that 0:13:16.160 --> 0:13:20.000 you know, there are a zillion sort of incentive for 0:13:20.120 --> 0:13:24.040 purchases of electric cars as well as sort of disincentives, 0:13:24.040 --> 0:13:26.199 taxes and that sort of thing on those who want 0:13:26.200 --> 0:13:29.960 to purchase um uh, you know, conventional vehicles, gas power vehicles. 0:13:29.960 --> 0:13:32.120 So so China's got this idea, you know, this is 0:13:32.440 --> 0:13:34.480 part of it. The sort of grand plan is is 0:13:34.520 --> 0:13:39.320 to create this gigantic um electric car industry, and you know, 0:13:39.520 --> 0:13:42.840 from the sort of Chinese economic policy makeup point of view, 0:13:43.200 --> 0:13:46.240 having Tesla in the country, especially and especially having a 0:13:46.320 --> 0:13:48.720 test of factory in the country, and that's that's one 0:13:48.760 --> 0:13:51.600 of the ways in which they really helped Tesla, you know, 0:13:51.679 --> 0:13:55.720 is a boon to to China because um, you know, 0:13:55.840 --> 0:13:58.360 it's it's not just the factory, it's the supply chain. 0:13:58.400 --> 0:14:01.679 So on one hand, like Tesla rings added competition, maybe 0:14:01.679 --> 0:14:05.120 that gives a sort of kick to the other Chinese 0:14:05.600 --> 0:14:08.680 electric fart makers, but it also creates this supply chain 0:14:08.679 --> 0:14:11.240 where you have the people who supply batteries and people 0:14:11.240 --> 0:14:15.040 whose supply breaks you know, uh, software whatever, like, all 0:14:15.080 --> 0:14:17.720 of that gets set into this this factory in China, 0:14:17.760 --> 0:14:20.800 and that helps the local economy. Um. You know. On 0:14:20.800 --> 0:14:22.800 the Tesla side, it's kind of the same thing, which 0:14:22.840 --> 0:14:24.960 is that this is a big uh, this is a 0:14:25.000 --> 0:14:28.400 growth market. It's it's arguably, um, you know, the most 0:14:28.440 --> 0:14:32.720 important electric vehicle market. It's it's where right now at 0:14:32.760 --> 0:14:35.600 least you know, Tesla's growth is going to come from. 0:14:36.120 --> 0:14:39.880 And uh, what sort of makes this interesting is that 0:14:39.960 --> 0:14:42.400 you know, Elon Musk has been able It's a really 0:14:42.440 --> 0:14:44.880 underappreciated part of about Elon Musk is that he's he's 0:14:44.960 --> 0:14:47.080 very good at politics. Um, you know, at a time 0:14:47.120 --> 0:14:50.080 when you know there's been this trade war, when when 0:14:50.120 --> 0:14:52.760 lots of other companies have have struggled with China, he's 0:14:52.760 --> 0:14:55.840 been able to kind of figure out a way to 0:14:55.880 --> 0:14:58.120 work it so that he's able to to open this factory, 0:14:58.520 --> 0:15:02.000 make Beijing happy, uh, and sort of do do a 0:15:02.000 --> 0:15:04.240 lot of business. That The risk, of course, is that 0:15:04.360 --> 0:15:07.520 really at any time, you know that the scales could 0:15:07.560 --> 0:15:12.040 change and China could create additional restrictions or do all 0:15:12.080 --> 0:15:14.560 sorts of stuff that would make Tesla's life not so great. 0:15:15.280 --> 0:15:18.640 Could do other companies? Can other companies learn from what 0:15:18.680 --> 0:15:21.640 Elon Musk has has done in China? How Elon Musk 0:15:21.680 --> 0:15:24.240 has been able to succeed in a place where so 0:15:24.280 --> 0:15:26.600 many American companies haven't been able to because they have 0:15:26.640 --> 0:15:29.760 to be so jealous Max, because it's been so hard 0:15:29.800 --> 0:15:32.160 for everybody else, and it's taken a long time to 0:15:32.240 --> 0:15:35.840 kind of get any kind of foothold there. Yeah, I 0:15:35.880 --> 0:15:39.400 mean I think that you know, Tesla had certain things 0:15:39.400 --> 0:15:41.760 going for it that that Elon was able to take 0:15:41.800 --> 0:15:44.120 advantage of And I don't know that this is I'm 0:15:44.160 --> 0:15:46.800 not sure there's a sort of like a how to 0:15:46.960 --> 0:15:50.920 lesson here, to be honest, because um Joel kind of 0:15:51.000 --> 0:15:55.560 hinted at this, But having Elon Musk open a factory 0:15:55.600 --> 0:15:59.800 in China has not just economic value to UH, to Beijing, 0:15:59.840 --> 0:16:02.200 it has kind of propaganda value, you know, at a 0:16:02.200 --> 0:16:06.800 time when you know, when sort of American companies are 0:16:06.840 --> 0:16:09.400 dealing with you know, lots of hostility. When when when 0:16:09.440 --> 0:16:12.440 there's this trade war going on with Trump, um Elon 0:16:12.520 --> 0:16:14.200 Musk is able to sort of figure that out right. 0:16:14.280 --> 0:16:17.360 He was able to ask for more than pretty much 0:16:17.360 --> 0:16:20.000 anyone could ask for, and he got something that no 0:16:20.080 --> 0:16:23.120 other car company had gotten, you know to date, which 0:16:23.160 --> 0:16:26.640 is trying to change the rules on sort of foreign 0:16:26.680 --> 0:16:30.120 ownership UH and and Tesla use that to allow to 0:16:30.120 --> 0:16:32.640 to have a hundred percent ownership of its of its 0:16:32.680 --> 0:16:34.840 joint venture. So I don't think this is a case 0:16:34.920 --> 0:16:39.320 of of of must doing something that you know, other 0:16:39.360 --> 0:16:41.880 companies could could could emulate. It's it's more a case 0:16:41.920 --> 0:16:45.680 of Musk having things that China wanted. Yeah, I think 0:16:45.680 --> 0:16:49.720 that's just to underscore that, you know, no other foreign 0:16:49.840 --> 0:16:53.360 company has ever been able to have UM that deal 0:16:53.400 --> 0:16:56.040 struck that Elon got that you know, instead of having 0:16:56.040 --> 0:16:59.480 a joint venture, which is usually you know, a Chinese 0:16:59.600 --> 0:17:03.160 owned company will have to have a stake in whatever 0:17:03.200 --> 0:17:06.919 that factory was, Ellen got something that the Chinese have 0:17:07.000 --> 0:17:09.880 never given anyone else, which is he got to own 0:17:09.920 --> 0:17:15.439 that that and with that came even more floods of 0:17:15.520 --> 0:17:20.040 Chinese backing. So it really was, you know, a subsidized venture. 0:17:20.359 --> 0:17:22.680 And that is something that back to this point, I 0:17:22.720 --> 0:17:25.480 don't know if you can really have UM any more 0:17:26.080 --> 0:17:28.560 how to lessons than that. And it was because I think, 0:17:29.080 --> 0:17:30.880 to give you a number here, like at one point, 0:17:31.000 --> 0:17:33.960 China has had as many as five electric vehicle startups. 0:17:34.440 --> 0:17:37.479 And when you bring in a car manufacturer like Tesla 0:17:37.600 --> 0:17:41.480 that has that Western appeal, it allows you to start 0:17:43.080 --> 0:17:46.679 having a switch to basically say we can like really 0:17:46.800 --> 0:17:51.399 bring our our e V domestic e V manufacturers into line. 0:17:51.400 --> 0:17:53.919 Here and Max, I guess that's the thing I just 0:17:53.960 --> 0:17:55.520 wanted to bring it back to you to as we 0:17:55.560 --> 0:17:59.960 wrap here, is you know, it does incentivize UM. China 0:18:00.040 --> 0:18:03.919 needs manufacturers to get their stuff together. So what what 0:18:04.000 --> 0:18:06.679 does that competition end up looking like? Potentially for Tesla 0:18:06.760 --> 0:18:09.760 and Max just got about twenty five seconds. Yeah, so 0:18:09.840 --> 0:18:11.840 it's going to be tight. There are lots of companies 0:18:11.880 --> 0:18:14.760 there and um and they're making products that are are 0:18:14.800 --> 0:18:17.280 good and that are competitive and in some case cheaper 0:18:17.320 --> 0:18:20.160 than Tesla's. The thing is, you know, none of them 0:18:20.200 --> 0:18:22.520 have that Tesla luster. I mean, this is a brand 0:18:22.600 --> 0:18:24.239 like Apple and that you know is going to mean 0:18:24.240 --> 0:18:27.200 a lot to consumers all over the world, including in China. Well, 0:18:27.240 --> 0:18:29.080 I love the last line in the story of Shanghai 0:18:29.119 --> 0:18:31.600 based consultant said Tesla got all of this because it 0:18:31.640 --> 0:18:33.600 was in China's interest for Tesla to have it. It's 0:18:33.600 --> 0:18:36.320 a great story. Deep deep, deep dive. Alright, guys, thank 0:18:36.400 --> 0:18:38.800 you so much. Joe Weber, editor of Bloomberg Business Week, 0:18:38.840 --> 0:18:41.640 Max Chafkin, one of the editors on this story, over 0:18:41.760 --> 0:18:44.760 Bloomberg Business Week, joining us on the phone. This is 0:18:44.760 --> 0:18:49.440 Bloomberg Business Week with Carol Messer from Bloomberg Radio. Headline 0:18:49.480 --> 0:18:53.080 crossing uh, US Senate Majority Leader at MS McConnell saying 0:18:53.640 --> 0:18:56.240 uh that he's he's telling the GPS no, no decision 0:18:56.240 --> 0:18:57.720 has been made on how he will vote. He actually 0:18:57.720 --> 0:19:00.280 put out a statement him. Yeah, his statement says, well, 0:19:00.280 --> 0:19:02.159 the press has been full of speculation. I have not 0:19:02.280 --> 0:19:04.480 made a final decision on how it will vote, and 0:19:04.720 --> 0:19:07.000 I intend to listen to the legal arguments when they 0:19:07.000 --> 0:19:09.440 are presented to the Senate. But Carol, I think it's 0:19:09.480 --> 0:19:14.520 notable that McConnell's not coming out right now and saying no, no, yeah, exactly. 0:19:14.520 --> 0:19:16.040 That's a big deal. It is a big deal. And 0:19:16.040 --> 0:19:19.000 we heard that from our own team to weighing in 0:19:19.080 --> 0:19:21.640 who covers the White House? Uh, this whole idea that 0:19:21.680 --> 0:19:23.040 you know, that's a big deal. That what we got 0:19:23.040 --> 0:19:25.600 from McConnell last night the New York Times reporting on it. 0:19:25.600 --> 0:19:28.080 It is a big deal as the House votes on 0:19:28.160 --> 0:19:31.719 impeachment at issue. Though ultimately Tim and you and I've 0:19:31.720 --> 0:19:34.440 talked about this a lot. Are President Trump's actions and words, 0:19:34.440 --> 0:19:36.760 in particular those in the social media world. There's a 0:19:36.760 --> 0:19:40.359 company that tracks toxicity on social media. Mayhabib is the 0:19:40.400 --> 0:19:42.320 co founder and CEO of Writer. It's an AI and 0:19:42.520 --> 0:19:45.679 n LP, which I now know stands for neuro Linguistic 0:19:45.760 --> 0:19:48.600 Programming Company learned something every day. She joins us on 0:19:48.600 --> 0:19:50.840 the phone in San Francisco, where the company's based. May 0:19:50.920 --> 0:19:52.879 so good to have you with Tim and myself just 0:19:52.960 --> 0:19:56.159 quickly briefly for our audience, exactly what you guys are 0:19:56.200 --> 0:20:00.280 doing on a regular basis. Good morning Carol. Um. It's 0:20:00.280 --> 0:20:07.639 actually natural language processing the other n LP. But we 0:20:07.720 --> 0:20:11.359 are an AI writing assistant, so we help correct language 0:20:11.520 --> 0:20:17.560 and in addition to stylistic and grammar type corrections, UM, 0:20:17.680 --> 0:20:21.320 we will also correct on what we call healthy communication, 0:20:21.520 --> 0:20:25.199 and that's a lot of you know, uh, stripping out passive, 0:20:25.200 --> 0:20:30.280 aggressive language and toxic language, mainly for a a workplace 0:20:31.000 --> 0:20:33.840 use case. So if our company has got a website 0:20:33.880 --> 0:20:35.880 right and is doing things that, that's what you're that's 0:20:35.880 --> 0:20:37.960 what you're going through. You're making sure that their message 0:20:37.960 --> 0:20:42.800 comes across in a non toxic way. Yes, in addition 0:20:42.880 --> 0:20:45.800 to emails, they may find their customers or chats in 0:20:45.880 --> 0:20:49.480 between colleagues. But we basically kind of pointed this very 0:20:49.520 --> 0:20:55.160 powerful technology at the Twitter stream to some interesting results. Yeah. 0:20:55.200 --> 0:20:57.720 And one thing that it's really fascinating about this is 0:20:57.760 --> 0:21:01.560 you've been analyzing tweets since the election this fall, including 0:21:01.600 --> 0:21:05.240 the tweets from President Trump, from President Obama, and from 0:21:05.240 --> 0:21:08.240 President elect Joe Biden. And I was surprised to see 0:21:08.720 --> 0:21:12.480