WEBVTT - NYC Region Reels From Ida Devastation 0:00:01.800 --> 0:00:04.440 This is Bloomberg Business Week. I'm Carol Masser and I'm 0:00:04.480 --> 0:00:07.280 Bloomberg Quick Takes Tim Stanovk. We're here every day bringing 0:00:07.320 --> 0:00:09.840 you the latest news from the world to business and finance, 0:00:09.840 --> 0:00:13.640 plus technology, politics, economics, all purtnising the power of Business 0:00:13.680 --> 0:00:17.119 Week reporters and editors, not to mention our journalists and 0:00:17.120 --> 0:00:20.000 analysts in more than one twenty countries. You can download 0:00:20.000 --> 0:00:23.239 Bloomberg Business Week and iTunes, SoundCloud, or Bloomberg dot com. 0:00:23.440 --> 0:00:25.200 You can also listen to our radio show at two 0:00:25.200 --> 0:00:28.360 pm Eastern Time on Bloomberg Radio, or watch us on YouTube. 0:00:28.400 --> 0:00:32.920 Search Bloomberg Global News. Virus headlines, Tim and I just 0:00:32.960 --> 0:00:34.800 covered a little bit of them. One thing that stuck 0:00:34.800 --> 0:00:37.800 out for me, Tim, medical experts who advise US regulators 0:00:37.800 --> 0:00:40.400 on vaccines, they're really chafing at what they perceive as 0:00:40.440 --> 0:00:43.839 political interference by the Biden administration in the review process 0:00:43.880 --> 0:00:45.800 of booster shots. I have to say it's a little 0:00:45.800 --> 0:00:48.479 bit confusing for me. It's confusing about booster shots and 0:00:48.479 --> 0:00:50.960 also confusing. Okay, which are the vaccines or which is 0:00:51.000 --> 0:00:53.320 the vaccine that has been fully approved versus one that 0:00:53.320 --> 0:00:56.560 has emergency use authorization? What does that mean? For employers 0:00:56.560 --> 0:00:59.120 who can mandate shots exactly. I think it's really confusing. 0:00:59.160 --> 0:01:02.040 So let's get some clarity back with us as Dr 0:01:02.080 --> 0:01:04.520 Peter alper And he is VP at the now publicly 0:01:04.520 --> 0:01:07.080 traded Doximity you might recall it. I p o back 0:01:07.080 --> 0:01:10.360 in late June, is a professional medical network for physicians. 0:01:10.360 --> 0:01:13.120 He joins us on the phone from Austin, Texas, and 0:01:13.120 --> 0:01:15.000 he's been a great voice for us to reach out 0:01:15.040 --> 0:01:19.600 to during the pandemic. Dr Alpern, how are you. I'm 0:01:19.640 --> 0:01:22.080 doing well, Thank you, thanks so much for having me on. Well, 0:01:22.080 --> 0:01:24.240 it's good to have you back with Tim and myself. 0:01:24.280 --> 0:01:27.000 Tell us a little bit about well, provide us some 0:01:27.040 --> 0:01:31.039 clarities basically, because it does feel like we're getting a 0:01:31.040 --> 0:01:35.880 lot of different information about UM, the vaccine and boosters. 0:01:35.880 --> 0:01:38.160 How do you see it. What's the advice that you 0:01:38.240 --> 0:01:42.520 and your colleagues are giving out to patients? Yeah, so UM. 0:01:42.560 --> 0:01:45.320 I mean the core advice remains the same, which is 0:01:45.560 --> 0:01:48.840 that we advise everybody you know, for whom the vaccine 0:01:48.840 --> 0:01:51.760 has approved, which is basically everybody twelve and older to 0:01:51.840 --> 0:01:54.880 go ahead and get their vaccines if they haven't done it. UM. 0:01:54.920 --> 0:01:57.400 And we have seen an increases in the number of 0:01:57.480 --> 0:02:01.720 vaccines over the past several weeks and people getting vaccinated 0:02:01.760 --> 0:02:05.600 with respect to boosters UM, So at this current moment, 0:02:05.800 --> 0:02:08.760 the boosters a third shot is to be clear, to 0:02:08.800 --> 0:02:10.919 clarify what it is we mean by booster has been 0:02:10.919 --> 0:02:15.040 approved for people who are have sort of certain, you know, 0:02:15.160 --> 0:02:18.360 compromising conditions, and that can either be that their patients 0:02:18.360 --> 0:02:21.400 who are living with cancer or that they're on medications 0:02:21.400 --> 0:02:24.400 which can suppress their immune system. But other than that, uh, 0:02:24.800 --> 0:02:29.280 it is currently not recommended that people get a third shot. UM. 0:02:29.320 --> 0:02:34.120 There is talk about on September that people can start 0:02:34.160 --> 0:02:36.880 to get their booster shots for people who got the 0:02:37.440 --> 0:02:40.480 shot very early, which is mostly people who work in healthcare. 0:02:40.760 --> 0:02:42.960 The clock. The clock is taking though to September twenty 0:02:43.120 --> 0:02:44.800 and I'm wondering what kind of guidance you would like 0:02:44.840 --> 0:02:48.520 to see from the FDA or from regulators about who 0:02:48.560 --> 0:02:50.680 should get it, how long they should wait to get it. 0:02:51.240 --> 0:02:54.200 If they got Maderna, did they get a booster from biiser? 0:02:54.480 --> 0:02:58.360 Is that okay? If they got j and they got 0:02:58.560 --> 0:03:02.440 two shots of a lot of information out there, what 0:03:02.560 --> 0:03:05.400 is going on like the rest of us very much 0:03:05.400 --> 0:03:08.480 await and see I I understand the frustration, but I 0:03:08.480 --> 0:03:11.239 do know that the folks at the CDC and the 0:03:11.320 --> 0:03:15.240 other federal regulatory agencies are working hard on this. I 0:03:15.280 --> 0:03:17.919 do suspect that what will happen is that people will 0:03:17.960 --> 0:03:20.720 be recommended to get a booster, likely of the same 0:03:21.160 --> 0:03:23.560 shot that they had before. And I have started to 0:03:23.600 --> 0:03:27.959 read things about suggestions that patients who received the j 0:03:28.160 --> 0:03:30.480 J vaccine will receive another one as well. But you 0:03:30.560 --> 0:03:32.920 raise a very good point. Um, you know there's a 0:03:32.919 --> 0:03:35.240 lot of data out there too that people need to 0:03:35.280 --> 0:03:37.640 sift through. One of the things that we've seen, Um, 0:03:37.680 --> 0:03:41.480 certain hiptoximity is just the explosion and medical information, and 0:03:41.520 --> 0:03:46.680 so providers are hungry for for clarity like like everybody else. Um. 0:03:46.720 --> 0:03:49.440 But there is, in fairness a tremendous amount of data. 0:03:49.520 --> 0:03:53.920 So again that it remains the same thing. Be safe, Um, 0:03:54.000 --> 0:03:56.880 make sure that you're vaccinated the first time. But I 0:03:57.320 --> 0:03:59.800 suspect that these recommendations will come out quite saying Hey 0:03:59.840 --> 0:04:01.720 talk Ralfer, and I got to ask about flu shots 0:04:01.720 --> 0:04:04.040 because here we are. I was at the pediatrician with 0:04:04.080 --> 0:04:06.720 my son earlier this week. The pediatrician said, Hey, we 0:04:06.840 --> 0:04:09.760 got flu shots in do you want to get one 0:04:09.800 --> 0:04:11.520 for him and I said yes, and do you have 0:04:11.560 --> 0:04:13.480 any for me? And he said we do, we have 0:04:13.600 --> 0:04:16.400 extra h And I got my flu shot already. What 0:04:16.480 --> 0:04:18.279 are you hearing right now about flu season? And what 0:04:18.320 --> 0:04:21.279 would you say to people who are don't even have 0:04:21.320 --> 0:04:23.240 that on their radar at this point because we've been 0:04:23.279 --> 0:04:25.720 so focused on COVID and last year was so mild 0:04:25.720 --> 0:04:27.400 when it came to flu season, I just put it 0:04:27.400 --> 0:04:31.960 on my to do that. Thank you, Carol, Absolutely great question, 0:04:32.160 --> 0:04:34.960 and you so you're absolutely right that last year's flu 0:04:35.080 --> 0:04:39.160 season was mild, likely because people were really washing their 0:04:39.200 --> 0:04:43.360 hands and people were distancing. So important point masks too, 0:04:43.400 --> 0:04:48.039 maybe spread part of masks as well. Maybe yes, masks 0:04:48.080 --> 0:04:50.599 as well. Absolutely, um So, a lot of the precautions 0:04:50.600 --> 0:04:52.880 that we were taking and continue to take in a 0:04:52.960 --> 0:04:57.000 lot of circumstances for COVID are very helpful to prevent 0:04:57.040 --> 0:04:58.560 the flu. And as I was going to say, is 0:04:58.600 --> 0:05:02.720 it flu is path by touch much more than certainly 0:05:02.760 --> 0:05:05.640 than covid, which is large emission cannot be transmitted that way. 0:05:05.880 --> 0:05:08.960 In terms of getting a flu vaccine, um, it's absolutely 0:05:09.000 --> 0:05:10.960 a great idea. It's always a good idea to get 0:05:10.960 --> 0:05:13.880 your flu vaccine. Every year. The flu is a significant 0:05:13.920 --> 0:05:16.880 cause of morbidity and mortality, meaning that it puts people 0:05:16.920 --> 0:05:19.160 in the hospital and can even lead to death and 0:05:19.240 --> 0:05:22.720 those who are elderly or having certain compromising conditions. So 0:05:22.960 --> 0:05:24.880 I'm glad that you got your child with flu shot, 0:05:24.880 --> 0:05:26.840 and I'm glad that you've got it yourself. Hey, listen, 0:05:26.839 --> 0:05:28.760 just got about a minute left here. You guys have 0:05:28.880 --> 0:05:30.760 some new stuff that's going out. Tell us about your 0:05:30.800 --> 0:05:33.560 residency navigator too, because you're a public company in our 0:05:33.560 --> 0:05:38.240 audience is interested in public companies. Uh yeah, well, thank 0:05:38.240 --> 0:05:40.440 you for that. Um so. Yeah. So one of the 0:05:40.480 --> 0:05:42.760 things that we do with Toximity is we have a 0:05:42.839 --> 0:05:46.280 variety of tools and features that help physicians at all 0:05:46.279 --> 0:05:48.560 stages of their career. And one of those features is 0:05:48.560 --> 0:05:51.840 the Residency Navigator, which is a tool that helps those 0:05:51.920 --> 0:05:54.840 younger physicians, the ones graduating medical school and choosing their 0:05:54.839 --> 0:05:57.680 training program, which is required of all doctors so that 0:05:57.720 --> 0:06:00.400 they can get licensed. Uh. They it's a that we 0:06:00.520 --> 0:06:03.680 provide that helps them choose the program that's the best 0:06:03.680 --> 0:06:06.039 fit for them depending upon what their career goals are. 0:06:06.240 --> 0:06:09.120 We update that with the latest data, and yes, that 0:06:09.279 --> 0:06:12.599 just got released a few weeks ago. So we're excited 0:06:12.600 --> 0:06:15.200 when we're seeing great wait and there's a couple's match 0:06:15.240 --> 0:06:18.320 twenty seconds. Is this like Tinder the medical version? Just 0:06:18.440 --> 0:06:21.920 quickly cool? That helps. There's a tool that helps those 0:06:21.920 --> 0:06:25.040 physicians who have met their partner during residency or some 0:06:25.200 --> 0:06:27.920 prior time, who are both physicians, to be able to 0:06:28.000 --> 0:06:30.800 find a location that can support both of their career goals. 0:06:30.640 --> 0:06:32.599 And so if one is a surgeon and one is 0:06:32.600 --> 0:06:34.920 an internal medicine position, they can both use this tool 0:06:34.960 --> 0:06:37.360 to find the best place to go. Makes perfect sense. 0:06:37.400 --> 0:06:39.520 I have friends who you know, had to fly every 0:06:39.560 --> 0:06:41.760 weekend to see one another when they were residents because 0:06:41.760 --> 0:06:43.960 they are residents thousands of miles away. Is it like 0:06:44.000 --> 0:06:47.760 swipe left first surgeon, swipe right for an intern. I 0:06:47.760 --> 0:06:49.320 don't know. I'm not a doctor. Not on a platform. 0:06:49.600 --> 0:06:52.039 Dr Peter Apron, always get to hear your voice, Vice 0:06:52.040 --> 0:06:55.680 President Doximity on the phone from Austin. You're listening to 0:06:55.800 --> 0:06:59.760 Bloomberg Business Week with Carol Masser and Bloomberg Quick Takes 0:06:59.800 --> 0:07:03.720 to m on Bloomberg Radio. All right, Hurricane I do 0:07:03.960 --> 0:07:06.760 not thank you, the fifth largest hurricane in our history. 0:07:06.800 --> 0:07:10.920 We heard Present Biden saying that just about an hour 0:07:11.000 --> 0:07:14.040 or so ago, making its mark tim from New Orleans 0:07:14.040 --> 0:07:16.640 and the Gulf Coast all the way up to the Northeast. 0:07:16.800 --> 0:07:18.560 It's coming at the same time we're seeing extreme weather 0:07:18.600 --> 0:07:21.240 play out, not just throughout the United States, but throughout 0:07:21.240 --> 0:07:24.080 the world, with flooding in Europe and uh, extreme weather 0:07:24.120 --> 0:07:26.360 in California in a drought that's just gripping the West. 0:07:26.480 --> 0:07:28.000 All right, we want to talk about all of this 0:07:28.160 --> 0:07:31.800 because climate change, we know, is also impacting the frequency 0:07:31.880 --> 0:07:34.920 and ferocity of storms. Here with more on that is 0:07:34.920 --> 0:07:38.360 Bloomberg News Sustainability editor Eric Roston joining us now on 0:07:38.400 --> 0:07:40.520 the phone in New Jersey. Eric, first of all, I 0:07:40.520 --> 0:07:43.800 hope you and your your family are safe. Hi. Yeah, 0:07:43.800 --> 0:07:46.680 thank you very much. We're We looked out a lot 0:07:46.720 --> 0:07:49.200 of people in northern New Jersey and in New York 0:07:49.240 --> 0:07:54.120 and the region had real serious flooding last night, and um, 0:07:54.640 --> 0:07:57.520 you know, our thoughts are with everybody who's suffering through this. Yes, 0:07:57.560 --> 0:08:01.480 we as well. Um, you know the storms, the type 0:08:01.480 --> 0:08:04.880 of storms where they're hitting, what they're doing. Tell us 0:08:04.920 --> 0:08:08.720 how you know, you guys cover sustainability, you cover climate change. 0:08:08.760 --> 0:08:11.760 How does climate change impact what we're living through? Right? 0:08:11.840 --> 0:08:15.720 Now when it comes to storms and weather patterns, climate 0:08:15.800 --> 0:08:20.520 change is exacerbating everything. It's making terrible things worse. Basically, 0:08:21.080 --> 0:08:26.120 the we've had, you know, projections for many years that 0:08:26.240 --> 0:08:30.160 are now really beginning to come true. Heat Waves are 0:08:30.280 --> 0:08:36.599 hotter and longer and more frequent. Tropical cyclones like hurricanes 0:08:36.640 --> 0:08:41.800 in this hemisphere are becoming more intense. There is there's 0:08:41.840 --> 0:08:45.959 a very direct relationship between the temperature of the atmosphere 0:08:46.000 --> 0:08:48.640 and the amount of water vapor it can hold. Every 0:08:48.800 --> 0:08:53.680 degree the temperature rises, the air can hold about seven 0:08:54.160 --> 0:08:59.640 more water vapor and it comes down when when conditions 0:08:59.640 --> 0:09:04.359 are as they have been for Hurricane i'da through the 0:09:04.360 --> 0:09:09.000 Gulf of Mexico up through the northeast as we as 0:09:09.040 --> 0:09:14.440 we saw last night. So we've expected this. It is 0:09:16.080 --> 0:09:20.600 as terrible or worse than we expected. Um and it 0:09:20.720 --> 0:09:25.679 leaves us with this very strange um I think situation, 0:09:25.720 --> 0:09:28.600 which is we're having these terrible weather events, and we 0:09:28.679 --> 0:09:34.160 know that greenhouse gases are driving a lot of the uh, 0:09:34.200 --> 0:09:37.200 you know, extra damages we're seeing. So that's that's where 0:09:37.240 --> 0:09:39.800 things stand today. Eric. It's it's it's puzzling to me 0:09:39.880 --> 0:09:42.640 at the same time because we're seeing these extreme weather events. 0:09:42.800 --> 0:09:45.160 While we're also seeing companies come out at least during 0:09:45.160 --> 0:09:47.320 the United States and certainly in the European Union with 0:09:47.400 --> 0:09:50.160 really ambitious climate goals. But these goals are years out 0:09:50.200 --> 0:09:53.800 we're talking, and I wonder how much worse things are 0:09:53.800 --> 0:09:58.040 going to get before they start to get better. We 0:09:58.200 --> 0:10:02.920 have yet to turn the hide. Carbon dioxide emissions in 0:10:02.960 --> 0:10:08.200 the atmosphere, that's the most important greenhouse gas continue to rise. 0:10:08.480 --> 0:10:12.120 Even though they took a big hip, a really historic 0:10:13.080 --> 0:10:18.000 hit last year, down by like five or six percent. UH, 0:10:18.559 --> 0:10:23.359 it's still negligible. UM. So all of these UH pledges 0:10:23.520 --> 0:10:29.160 are super super important, and I think in most cases 0:10:29.240 --> 0:10:34.640 there's not reason to doubt the genuineness of the goals 0:10:34.800 --> 0:10:40.440 or the motivations to achieve them. UM. But you're right, 0:10:40.679 --> 0:10:44.920 they have yet to become actualized. In most cases, there 0:10:45.000 --> 0:10:49.080 is enormous progress in renutable energy as we see just 0:10:49.200 --> 0:10:52.920 like year after year, the games are phenomenal, even though 0:10:52.920 --> 0:10:57.760 they're still not fast enough. UM. But this is this 0:10:57.840 --> 0:11:00.760 is an economy in transition that we that we have 0:11:00.880 --> 0:11:05.480 now we a global economy, and transition just got thirty 0:11:05.480 --> 0:11:08.520 seconds just quickly. Eric. I mean, we talked about inequities. 0:11:08.600 --> 0:11:11.240 It does feel like those countries, those cities that are 0:11:11.280 --> 0:11:14.600 wealthier are going to be able to figure out solutions 0:11:14.679 --> 0:11:18.280 faster and better than others in terms of surviving climate 0:11:18.360 --> 0:11:21.640 change just quickly. Is that fair? That is totally fair. 0:11:21.720 --> 0:11:23.680 It was the subject of a feature we ran earlier 0:11:23.720 --> 0:11:27.240 this week that I drive everyone's attention to uh fortunately 0:11:27.440 --> 0:11:30.319 and to leave on a hopeful note of many many 0:11:30.440 --> 0:11:34.960 life saving opportunities and keep waves and other events are 0:11:35.120 --> 0:11:39.920 not income dependent. We can save lives without rebuilding cities 0:11:39.920 --> 0:11:42.920 from scratch. Thank you so much for coming on. We 0:11:43.000 --> 0:11:45.040 really wanted to check in with you today. Eric Roston, 0:11:45.120 --> 0:11:48.400 Stay Safe, Sustainability editor at Bloomberg News, joining us on 0:11:48.520 --> 0:11:52.079 the phone in New Jersey. Yeah. Important to check out 0:11:52.080 --> 0:11:55.480 that future too, available at Bloomberg dot com. This is 0:11:55.520 --> 0:11:59.440 Bloomberg Business Week with Carol Messer and Bloomberg Quick Takes, 0:11:59.559 --> 0:12:03.760 tim's Enovic on Bloomberg Radio. Well this week it is 0:12:03.800 --> 0:12:07.160 a special double issue of Bloomberg Business Week magazine. It's 0:12:07.200 --> 0:12:09.520 the City's issue and the cover story the issue is 0:12:09.559 --> 0:12:12.920 about Mark Lourie, who Tim amassed a fortune building e 0:12:13.080 --> 0:12:15.839 commerce sites, several of them, and he's on a new 0:12:15.880 --> 0:12:19.920 mission investing that money into building a privately run city. 0:12:19.960 --> 0:12:22.280 He shared that vision with our own Joshua Boosting. He did, 0:12:22.320 --> 0:12:24.960 and Joshua Brewsting joins us now he's technology editor at 0:12:24.960 --> 0:12:27.280 Bloomberg Business Week. He's joining us on the phone from 0:12:27.360 --> 0:12:29.040 New York City. I think a lot of listeners and 0:12:29.520 --> 0:12:32.440 readers of Bloomberg Business Magazine might remember Lorrie from the 0:12:32.480 --> 0:12:35.360 cover that he was on a few years ago when 0:12:35.440 --> 0:12:37.280 he launched jet dot com. That was the way that 0:12:37.320 --> 0:12:39.760 the world found out about Jet dot com before Walmart 0:12:39.800 --> 0:12:41.240 a couple of years later bought it for more than 0:12:41.280 --> 0:12:44.040 three billion dollars. But Joshua, before we get into this, 0:12:44.080 --> 0:12:45.920 just give us some background about who Mark Laurie is 0:12:45.960 --> 0:12:48.160 and really what he's trying to build after building these 0:12:48.200 --> 0:12:52.120 e commerce sites. Sure, yeah, thanks for having me. Um. 0:12:52.200 --> 0:12:55.320 As you said, Mark Laurie has had a successful career 0:12:55.400 --> 0:12:59.959 building e commerce websites. First, he built h the company 0:13:00.240 --> 0:13:02.640 that ran diapers dot com, which he sold to Amazon, 0:13:03.480 --> 0:13:05.600 worked for Amazon for a bit, left and built Jet 0:13:05.640 --> 0:13:09.199 dot Com, which is basically an Amazon competitor, which was 0:13:09.240 --> 0:13:13.400 bought by Walmart. He then ran Walmart's e commerce UM 0:13:13.480 --> 0:13:17.439 division for about the last five years, but Almost immediately 0:13:17.559 --> 0:13:21.560 upon getting to Walmart, he started talking to people about 0:13:21.640 --> 0:13:27.600 this plan to build a city from scratch. Basically. UM 0:13:27.640 --> 0:13:30.959 that his current plan is for it to have eventually 0:13:31.000 --> 0:13:34.320 about five million people. That would be forty years from now, 0:13:34.360 --> 0:13:36.280 and obviously a lot would have to go right to 0:13:36.320 --> 0:13:39.400 get there. UM. And he's just starting to lay some 0:13:39.559 --> 0:13:44.240 of the groundwork for what's a pretty audacious project. Is 0:13:44.240 --> 0:13:50.080 it going to happen historically? Um? If you look at 0:13:50.200 --> 0:13:52.439 what other people who have had come up with similar 0:13:52.679 --> 0:13:56.559 plans like this, I think the answer would be no. Um. 0:13:56.600 --> 0:14:01.520 There have been a really steady stream of these utopian 0:14:01.800 --> 0:14:05.440 city building projects over the years. UM. I talked to 0:14:06.240 --> 0:14:09.600 a professor at McGill University who studies them and says 0:14:09.640 --> 0:14:13.400 that there's about a hundred and fifty such projects underway 0:14:13.480 --> 0:14:16.440 right now. UM. But she said she couldn't really point 0:14:16.480 --> 0:14:19.560 to a single one that had fully succeeded in its goals. 0:14:19.680 --> 0:14:21.680 Some of them do have some people, but they never 0:14:21.760 --> 0:14:24.560 quite get to the heights that they're aiming for. Joshua. 0:14:24.600 --> 0:14:26.160 A few months ago, you got some time to to 0:14:26.200 --> 0:14:29.160 really sit down with with Mark Laurie and and really 0:14:29.160 --> 0:14:30.960 get his vision, which you lay out so clearly in 0:14:30.960 --> 0:14:34.160 the cover story of this edition in Bloomberg Business Week. 0:14:34.400 --> 0:14:36.960 What is it that motivates Mark Laurie to do this, 0:14:37.040 --> 0:14:39.760 What is he concerned about, what is his thinking around this, 0:14:39.840 --> 0:14:46.480 the philosophy around this. MH Yeah, interestingly, UM, I sort 0:14:46.480 --> 0:14:48.880 of figured that, you know, a guy coming from the 0:14:48.920 --> 0:14:52.360 tech industry wants to start own city that mostly what 0:14:52.400 --> 0:14:55.800 he'd want to talk about are a ton of this vehicles, 0:14:56.040 --> 0:14:59.400 drone delivery thing like things like that. I mean sort 0:14:59.440 --> 0:15:02.280 of like touch think if I think I want an 0:15:02.320 --> 0:15:05.040 ice cream cone in my hand and it just appears 0:15:05.080 --> 0:15:08.240 like that exactly, And he did talk about that a 0:15:08.240 --> 0:15:12.160 little bit. But like the thing that he's really interesting 0:15:12.400 --> 0:15:17.600 is this model of landownership UM, which was first floated 0:15:17.600 --> 0:15:21.760 by an economist named Henry George in the nine which 0:15:21.840 --> 0:15:27.040 is basically the idea that you could um hold the 0:15:27.480 --> 0:15:29.720 all of the all of the land in a city 0:15:29.760 --> 0:15:33.120 in a trust and instead of allowing people to own 0:15:33.120 --> 0:15:35.880 their own land, they everyone would be leasing the lands 0:15:35.920 --> 0:15:42.240 from this central trust and the income from that from 0:15:42.480 --> 0:15:46.320 that from those leases could be poured back into social services. 0:15:46.400 --> 0:15:50.080 And now Laurie thinks that this is a way to 0:15:50.200 --> 0:15:56.960 deal with inequality, which he professes to be his main, uh, 0:15:57.040 --> 0:16:00.800 his main incentive in trying to pursue this project. Um, 0:16:00.800 --> 0:16:03.240 it was a little bit jarring to to hear this 0:16:03.480 --> 0:16:06.200 from a guy as he said in his forty four 0:16:06.280 --> 0:16:10.080 million dollar Penhals apartment and explained it to me. Um, 0:16:10.120 --> 0:16:13.080 you know, but that is really what he seemed lasor 0:16:13.120 --> 0:16:17.600 focused on. Sounds like a really nice apartment. By the way, 0:16:17.760 --> 0:16:19.440 what I will say is, and we're getting ready to 0:16:19.440 --> 0:16:21.440 talk with David Rubinstein, who has a new book alt 0:16:21.480 --> 0:16:25.360 called The American Experiment, and it's you know, conversations he's 0:16:25.440 --> 0:16:31.240 had as America has continued to evolve and innovate and 0:16:31.400 --> 0:16:34.600 change on some really important issues. And I do think 0:16:34.600 --> 0:16:37.280 we are at this critical juncture when we look at 0:16:37.280 --> 0:16:40.000 some of our cities that are struggling and have struggled 0:16:40.040 --> 0:16:42.080 so much in the last year and a half, and 0:16:42.120 --> 0:16:46.000 you do wonder what happens going forward. Will the infrastructure 0:16:46.080 --> 0:16:48.560 ultimately come from the federal government and maybe change some 0:16:48.600 --> 0:16:50.760 of those cities that have been struggling. You know, do 0:16:50.800 --> 0:16:53.480 we have an opportunity because we could work from home, 0:16:53.560 --> 0:16:57.280 we don't have to work in major cities to reinvent 0:16:57.760 --> 0:17:00.760 the cities and towns that we have out there. So, 0:17:00.800 --> 0:17:03.280 you know, as crazy as it might be, Josh right, 0:17:03.320 --> 0:17:06.680 like you do, wonder does Mark Lori maybe have something 0:17:06.680 --> 0:17:09.960 that maybe there are ways we can do things better? Yeah, 0:17:10.000 --> 0:17:13.199 I think that there. Um this, there's a couple of 0:17:13.240 --> 0:17:15.680 themes that come up in a number of these sort 0:17:15.680 --> 0:17:19.480 of technology driven utopian city building ideas, which I think 0:17:19.800 --> 0:17:26.320 are rather valid critiques of the way that cities work. Now. UM, 0:17:26.320 --> 0:17:29.960 I think Lori is correctly identified the fact that inequality 0:17:30.000 --> 0:17:33.240 is an enormous problem UM and is causing really a 0:17:33.280 --> 0:17:37.000 lot of strain on on the capitalist system in the 0:17:37.080 --> 0:17:42.720 United States. UM. Also, if you have something like autonomous vehicles, 0:17:42.800 --> 0:17:45.400 you want to cut down on car use. Generally, these 0:17:45.400 --> 0:17:48.640 are big transformations of a city, and it's very hard 0:17:48.720 --> 0:17:51.399 to get things done in cities there. They tend to 0:17:51.800 --> 0:17:55.480 really grind down due to inertia politics. UM, there's a 0:17:55.520 --> 0:17:57.959 lot of there's a lot of reasons why things can't happen, 0:17:58.720 --> 0:18:02.240 um and uh and so yeah, I think that those 0:18:02.359 --> 0:18:05.760 those are good diagnosis of the problem. Whether you'd be 0:18:05.760 --> 0:18:08.600 able to do something like that by starting a new um, 0:18:08.640 --> 0:18:11.840 I'm not sure that's any easier, um, But you know, 0:18:11.920 --> 0:18:14.800 I mean it's certain tempting to give it a try. 0:18:14.920 --> 0:18:17.320 Where does this fall on his his list of priorities? 0:18:17.359 --> 0:18:19.640 And and and also when when he thinks about what 0:18:19.680 --> 0:18:21.879 he wants to be known for. I mean, this is 0:18:21.880 --> 0:18:24.800 a guy who's bought a steak in a pro basketball team, 0:18:24.800 --> 0:18:26.439 as you're right, he's learning the basics of his new 0:18:26.480 --> 0:18:29.720 Steinway Grand piano. He's got this team that's working on 0:18:29.760 --> 0:18:34.879 this new reality show. He's invested in EV talls. Um, 0:18:34.920 --> 0:18:36.920 where does this fall on his list of priorities right now? 0:18:39.080 --> 0:18:40.720 I think, well, I think the EV talls in the 0:18:40.760 --> 0:18:45.359 city kind of work. Two v talls are electronic vertical 0:18:45.400 --> 0:18:48.320 takeoff and landing vehicles basically flying cars. Um, I think 0:18:48.320 --> 0:18:50.760 those might fit into the city. I think it's right 0:18:50.840 --> 0:18:54.280 to wonder, with all these other things going on, do 0:18:54.359 --> 0:18:58.480 you have this like sort of crazy project out there 0:18:58.840 --> 0:19:03.159 if you're devoting what your time to it like something 0:19:03.200 --> 0:19:06.199 that's basically impossible anyway, Like can you do it of 0:19:06.240 --> 0:19:09.600 your time? That seems like a valid critique. His His 0:19:10.240 --> 0:19:12.919 response to critique, which obviously I raised with him, is 0:19:12.960 --> 0:19:15.639 that well, starting now, there's not much to do with 0:19:15.720 --> 0:19:18.080 the city project, but over time it will become everything 0:19:18.119 --> 0:19:21.080 he does, and he'll sort of, you know, move towards 0:19:21.520 --> 0:19:25.159 devoting all of his time um to it. Um. You know, 0:19:25.200 --> 0:19:27.560 I think it would have to get to a state 0:19:28.080 --> 0:19:30.760 uh much different than it is now to justify that. 0:19:30.840 --> 0:19:33.439 But that's just twin. Well, there's so much detail in 0:19:33.480 --> 0:19:35.439 your story and it's a great read. It is the 0:19:35.480 --> 0:19:38.240 cover story of the double issue of Bloomberg Business Week 0:19:38.280 --> 0:19:41.880 magazine on newsstands, on the Bloomberg and at business week 0:19:41.920 --> 0:19:44.960 dot com. Joshua Boosting, thank you so much, Technology editor 0:19:45.000 --> 0:19:48.119 at Bloomberg Business Week. As we said his cover story 0:19:48.200 --> 0:19:51.639 on Mark Laurie trying to create utopia, Carol, I've interviewed 0:19:51.640 --> 0:19:55.040 Mark Laurie a few times before and during jet it's 0:19:55.080 --> 0:19:58.919 just like a normal guys almost good. Yeah, it's it's 0:19:58.960 --> 0:20:00.959 so interesting to hear about this grand vision. Yeah, we'll 0:20:00.960 --> 0:20:03.600 speaking of grand visions David Rubinstein and his latest book. 0:20:03.600 --> 0:20:10.840 We'll get to that in just a moment. You're listening 0:20:10.920 --> 0:20:14.640 to Bloomberg Business Week with Carol Masser and Bloomberg Quick 0:20:14.720 --> 0:20:18.920 Takes Tim Stinovic on Bloomberg Radio. All right, so grab 0:20:18.960 --> 0:20:22.040 your drink of choice, Uh, settle into a comfy chair. 0:20:22.080 --> 0:20:24.560 If you're driving, pull over because we've got a great guest. 0:20:24.920 --> 0:20:26.960 Our next guest talks with all kinds of leaders from 0:20:26.960 --> 0:20:30.000 all walks of our lives, the household names, the exacts, 0:20:30.000 --> 0:20:32.720 the innovators, the warriors, the up starts, the artist, and 0:20:32.760 --> 0:20:35.800 from those conversations, he's written a trilogy of books, How 0:20:35.840 --> 0:20:38.600 to Lead on Leadership. The second, The American Story, was 0:20:38.640 --> 0:20:42.520 all about the American history, UH, and the book's title, 0:20:42.640 --> 0:20:45.280 The American Experiment, Dialogues and a Dream is his third 0:20:45.280 --> 0:20:48.160 book in this series. So it's great to have joining us. UH. 0:20:48.240 --> 0:20:51.440 David Rubinstein. He's host of Bloomberg Wealth on Bloomberg TV 0:20:51.480 --> 0:20:53.199 and Bloomberg Radio, and of course you know him as 0:20:53.240 --> 0:20:55.760 co founder and co chair of the private equity from 0:20:55.840 --> 0:20:58.720 the Carlisle Group. He joins us in our interactive broker studio. 0:20:58.960 --> 0:21:00.840 Thank you for joining us, My pleasure to be here. 0:21:00.840 --> 0:21:02.800 Thank you for having me. It's really wonderful and I 0:21:02.840 --> 0:21:05.600 feel like you are someone who talks with so many 0:21:05.640 --> 0:21:09.320 different people, different points of view. UM, we were wondering 0:21:09.480 --> 0:21:11.760 about the last couple of years, with everything going on, 0:21:12.119 --> 0:21:14.040 how that kind of has shaped who you want to 0:21:14.080 --> 0:21:17.480 talk to and how you were thinking about this book. 0:21:17.920 --> 0:21:20.919 The American experiment. Well, generally, I'd like to talk to 0:21:20.960 --> 0:21:22.919 people who are willing to say something, as you know 0:21:23.080 --> 0:21:26.080 from being an interviewer. Uh, if you watch the Sunday 0:21:26.119 --> 0:21:28.119 talk shows, sometimes you say, why do these people go 0:21:28.160 --> 0:21:29.600 on these shows? Because they don't want to you want 0:21:29.600 --> 0:21:31.960 to say anything. What you want is somebody who's willing 0:21:31.960 --> 0:21:34.399 to say something and say something they haven't said before. 0:21:34.600 --> 0:21:37.720 That's the best interview, right, And so I'm always looking 0:21:37.760 --> 0:21:40.760 for somebody who is willing to be engaging and doesn't 0:21:40.800 --> 0:21:43.240 want to just spar with the interviewer and not say anything. 0:21:43.320 --> 0:21:46.399 So you know that's that's a challenge, but that's what 0:21:46.440 --> 0:21:48.639 I'm trying to do. And you always want somebody that 0:21:48.640 --> 0:21:51.360 people will listen to and want to hear. So if 0:21:51.359 --> 0:21:53.800