WEBVTT - Ruth Porat 0:00:00.280 --> 0:00:02.560 Okay, so you built this, so this is all this 0:00:02.600 --> 0:00:05.960 is new since the pandemic, we've assumed Google Googlers would 0:00:05.960 --> 0:00:08.400 want more indoor outdoor options. I mean, it's so exciting, 0:00:08.400 --> 0:00:10.879 it's such a fun it is it is, But I 0:00:10.920 --> 0:00:12.840 would say the thing we're really excited about are these 0:00:12.880 --> 0:00:16.079 new buildings, because we were building sustainability and to everything 0:00:16.120 --> 0:00:23.080 we do so really forward looking for good. Okay, Hi everyone, 0:00:23.079 --> 0:00:25.360 I'm Emily Chang, and you're listening to Bloomberg Studio one 0:00:25.360 --> 0:00:28.280 point out. Today we are taking you to the Googleplex 0:00:28.320 --> 0:00:31.280 in Mountain View, California, where I'm sitting down with Alphabet 0:00:31.360 --> 0:00:36.320 CFO Ruth poor At. We're in one of Google's new 0:00:36.360 --> 0:00:40.120 outdoor pandemic workspaces, and we're not far from her childhood home. 0:00:40.640 --> 0:00:44.599 Her father was a physicist at Stanford, her mother a psychologist. 0:00:44.920 --> 0:00:47.720 After graduating from Stanford herself and then earning a couple 0:00:47.800 --> 0:00:50.720 more advanced degrees, poor At landed her first job on 0:00:50.760 --> 0:00:54.600 Wall Street in nineteen seven, where she would spend almost 0:00:54.640 --> 0:00:59.280 three decades until Google's co founders lured her to Silicon Valley. 0:01:02.280 --> 0:01:04.600 It's wonderful to be here with you. It's great to 0:01:04.600 --> 0:01:06.520 have you here at the Google plot. Thank you for 0:01:06.560 --> 0:01:10.160 having us. So we are at Google headquarters in Mountain View, 0:01:10.240 --> 0:01:12.520 and at this very same time, you are making massive 0:01:12.560 --> 0:01:15.920 investments in New York office real estate. You're expanding head 0:01:15.920 --> 0:01:20.000 count in Atlanta and Chicago and Washington, d C. What's 0:01:20.040 --> 0:01:23.319 the strategy behind all of this. Well, at the core, 0:01:23.520 --> 0:01:26.160 we believe in hybrid work, so we do want to 0:01:26.160 --> 0:01:30.240 bring people back on campuses, but not full time. We're 0:01:30.280 --> 0:01:32.520 thinking would probably be a three to work week. But 0:01:32.600 --> 0:01:35.240 we think coming together is just such a core part 0:01:35.240 --> 0:01:39.759 of innovation, serendipity, culture, every element of it. And we're 0:01:39.800 --> 0:01:42.959 growing in a really rapid clip. So we are excited 0:01:43.000 --> 0:01:45.600 to be expanding our real estate footprint. And then we 0:01:45.640 --> 0:01:48.240 also wanted to make sure that we're meeting people where 0:01:48.280 --> 0:01:50.840 they want to be and so enlarging the number of 0:01:50.880 --> 0:01:54.080 sites that we have available for people in particular sites 0:01:54.120 --> 0:01:57.440 where you have great diverse populations. Soon, Dar just told 0:01:57.440 --> 0:01:59.240 me that Googlers will have this option to work in 0:01:59.240 --> 0:02:04.080 a hybrid mode forever, like literally forever. Obviously you're embracing 0:02:04.080 --> 0:02:07.040 this massive cultural shift. But what are the risks? You know, 0:02:07.120 --> 0:02:10.040 what do you worry about? So the positive we've seen 0:02:10.280 --> 0:02:13.560 is there's a productivity uplift. We believe in giving people 0:02:13.680 --> 0:02:15.880 the opportunity to be at home some of the time, 0:02:16.040 --> 0:02:18.280 not do the commute, be able to deal with everything 0:02:18.280 --> 0:02:22.200 else in their life and coming into the office. So 0:02:22.440 --> 0:02:25.560 the risk is I think about my career, and so 0:02:25.680 --> 0:02:30.040 much of the benefit in my career was the informal coaching, 0:02:30.120 --> 0:02:33.160 being pot brought into meetings, all of the touch points 0:02:33.160 --> 0:02:35.440 that you have. And so I think that one of 0:02:35.440 --> 0:02:37.640 the most important things for all of us as leaders 0:02:37.960 --> 0:02:40.120 is we need to evolve the way we lead. We 0:02:40.160 --> 0:02:43.119 need to make sure that we're thinking about this hybrid 0:02:43.160 --> 0:02:46.240 work life and why that's the way to be the 0:02:46.280 --> 0:02:49.079 best magnet for talent, and make sure that we're continuing 0:02:49.120 --> 0:02:51.880 to reinforce all of those great practices while opening up 0:02:51.960 --> 0:02:55.400 new great practices. Speaking of your career before your CFO 0:02:55.400 --> 0:02:57.680 of Alphabet, you are CFO of Morgan Stanley and you 0:02:57.720 --> 0:03:00.320 started your career on Wall Street in nineteen eighties seven. 0:03:00.680 --> 0:03:02.760 Talk to us about the journey of going from big 0:03:02.800 --> 0:03:05.960 banks to big tech. Why did you make that leap 0:03:06.360 --> 0:03:09.680 and what impact did you want to have? Well, I 0:03:09.800 --> 0:03:14.000 love being at Morgan Stanley and I became CFO the 0:03:14.080 --> 0:03:16.960 day James Gorman became CEO, ysked me to join him 0:03:17.000 --> 0:03:21.200 in that in that journey, and that was January, and 0:03:21.240 --> 0:03:23.960 we were still recovering coming out of the financial crisis. 0:03:23.960 --> 0:03:26.160 There were still some pretty rocky days and a lot 0:03:26.160 --> 0:03:28.080 of decisions that needed to be made. And then I 0:03:28.080 --> 0:03:29.720 got to a point where I felt like we were 0:03:29.760 --> 0:03:32.600 in a great spot at Morgan Stanley, and obviously it's 0:03:32.600 --> 0:03:34.720 continued to do really well, and I just wanted that 0:03:34.800 --> 0:03:38.280 next chapter. My view, in my career, I've always been 0:03:38.280 --> 0:03:41.320 focused on kind of continually learning, and I feel like 0:03:41.360 --> 0:03:43.920 when you hit a plateau, the right questions what's my 0:03:44.440 --> 0:03:47.240 highest and best use? And uh, it's been it's been 0:03:47.280 --> 0:03:50.520 an extraordinary time. You also survived Wall Street in the 0:03:50.560 --> 0:03:54.240 eighties and nine daies, which is you know, notorious boys club, 0:03:54.520 --> 0:03:56.800 and Silicon Valley has sort of come to be known 0:03:56.840 --> 0:03:59.200 as a boys club of its own. How would you 0:03:59.240 --> 0:04:03.000 compare those two cultures. Well, when I was in you know, 0:04:03.120 --> 0:04:07.160 starting my career um many decades ago, it was much 0:04:07.720 --> 0:04:09.600 it was tough and much worse than it is now. 0:04:09.680 --> 0:04:12.640 And it evolved, no question about it, not where it 0:04:12.640 --> 0:04:15.480 needs to be, but certainly evolved. And I saw it 0:04:15.520 --> 0:04:18.840 through my career. UM, I would say the biggest difference 0:04:18.839 --> 0:04:22.880 out here is the level of impatience, and I love it. 0:04:22.880 --> 0:04:24.919 It's the view is, if you can do some of 0:04:24.960 --> 0:04:29.040 the extraordinary breakthroughs that we have out here, if you 0:04:29.080 --> 0:04:32.599 can do natural language translation, everything we do with AI, 0:04:32.640 --> 0:04:36.480 with VR, with self driving cars, why can't you fix 0:04:36.560 --> 0:04:39.960 this now? And that level of impatience I think is fantastic. 0:04:40.320 --> 0:04:42.120 Legend has it that when you got to Google, you 0:04:42.200 --> 0:04:45.159 were going to rain in the spending, tighten up on 0:04:45.360 --> 0:04:50.120 the moonshots. Your nickname, I believe, was Ruth Vader. Was 0:04:50.160 --> 0:04:53.000 that a tough job to take on? So I think 0:04:53.040 --> 0:04:56.680 that the narrative was written before I got here. And 0:04:57.040 --> 0:05:01.560 what I find most interesting about that is I firmly 0:05:01.600 --> 0:05:04.560 believe the single most important thing in capital allocation is 0:05:04.600 --> 0:05:07.800 investing for long term growth. I think if you don't, 0:05:07.920 --> 0:05:10.279 you're sowing the seeds of your long term decline. And 0:05:10.320 --> 0:05:14.400 I learned that really early on in my career. Now, 0:05:14.480 --> 0:05:18.480 if you're investing in an industry like this and trying 0:05:18.520 --> 0:05:23.440 to do truly transformative things, by definition everything can't succeed, 0:05:24.000 --> 0:05:27.240 and so by definition you should have the metrics and 0:05:27.360 --> 0:05:30.000 data and milestones to assess is it working or is 0:05:30.040 --> 0:05:33.200 it not? Because if everything's working, or if you think 0:05:33.240 --> 0:05:35.200 everything is working, I would say one or two things 0:05:35.480 --> 0:05:39.080 are wrong. Either you're not reaching high enough or you're 0:05:39.120 --> 0:05:42.040 not being honest enough with yourself about the pace of 0:05:42.560 --> 0:05:45.400 breakthrough whether you're going to get there. So, to me, 0:05:46.200 --> 0:05:49.719 a really natural part, you know, kind of a sister 0:05:50.120 --> 0:05:53.880 organization to investing for long term growth is actually thinking 0:05:53.920 --> 0:05:56.360 about how are you doing with the risk that you're taking. 0:05:56.520 --> 0:05:59.440 Stack rack them and figure out what's at the bottom 0:05:59.480 --> 0:06:02.040 so you can redeploy those resources to the top. They 0:06:02.080 --> 0:06:04.880 go together, actually, and so I find the narrative it's 0:06:04.920 --> 0:06:08.800 a false choice to think that it's either about growth 0:06:08.920 --> 0:06:12.360 or it's about pruning, stack ranking. They go together, and 0:06:12.760 --> 0:06:16.000 you have to think of them as actually empowering one another. 0:06:16.560 --> 0:06:20.279 You advised the Treasury Department during the Great Recession. What 0:06:20.480 --> 0:06:23.120 lessons did you take away from that? What struck me 0:06:23.640 --> 0:06:25.760 is a lot of the lessons from the financial crisis 0:06:25.800 --> 0:06:28.599 are relevant in good times and bad times. So the 0:06:28.640 --> 0:06:31.239 most important is it's easier to prevent than to fix. 0:06:31.400 --> 0:06:34.120 And and so you know, there was that was really 0:06:34.160 --> 0:06:38.080 clear during the financial crisis. The financial crisis was about liquidity, 0:06:38.120 --> 0:06:40.040 and it dried up quickly, and it would have been 0:06:40.080 --> 0:06:43.080 really easy six to twelve months prior to build in 0:06:43.160 --> 0:06:46.080 durable liquidity. You couldn't do it in the moment. And 0:06:46.120 --> 0:06:49.520 so this notion about really building a solid foundation on 0:06:49.520 --> 0:06:51.880 which you operate, you need to do that ahead of time. 0:06:51.920 --> 0:06:53.600 It needs to be all of the work we do 0:06:53.680 --> 0:06:57.400 on trust and safety and content moderation, security, That is 0:06:57.440 --> 0:07:00.720 the foundation on which you can build everything else. Hand 0:07:00.760 --> 0:07:02.440 Calls at one point said to me, you have to 0:07:02.480 --> 0:07:04.280 have the will and the means, and too often by 0:07:04.320 --> 0:07:06.359 the time you have the will, you no longer have 0:07:06.480 --> 0:07:10.600 the means. His comment was, be decisive, act early, even 0:07:10.600 --> 0:07:13.800 in the absence of information. I think that's true in 0:07:13.800 --> 0:07:18.240 this whole notion of investing for long term growth, because 0:07:18.880 --> 0:07:22.720 if you're not actually assessing progress along the way and 0:07:22.720 --> 0:07:24.720 you just assume you know what, we can keep investing 0:07:24.720 --> 0:07:28.120 in everything, at some point down the road you'll say, 0:07:28.160 --> 0:07:30.520 I wish I had made those tough calls to double 0:07:30.600 --> 0:07:33.040 down on the things that really matters. What times are 0:07:33.080 --> 0:07:36.440 we in now. What's your read on the economy today, 0:07:36.560 --> 0:07:40.600 especially with rising inflation. Well, I look, I think back 0:07:40.640 --> 0:07:44.480 to March of and where we were, and I think 0:07:44.480 --> 0:07:46.600 of all of the intervention and steps that have been 0:07:46.640 --> 0:07:49.680 taken since then, and you've certainly seen the recovery coming 0:07:49.680 --> 0:07:53.440 out the back end, and it's been really gratifying from 0:07:53.440 --> 0:07:57.200 those those painful days to see the breakthroughs that we've had, 0:07:57.200 --> 0:07:59.000 not just on the medical front, but we've also seen 0:07:59.040 --> 0:08:01.640 the improvement across business. Is I think one of the 0:08:01.680 --> 0:08:05.080 biggest concerns in particulars you're seeing us go through a 0:08:05.120 --> 0:08:07.920 digital transformation and the acceleration of it is ensuring that 0:08:08.000 --> 0:08:11.040 everyone has the skills, the digital training and skills to 0:08:11.120 --> 0:08:20.800 thrive in this new economy. You're listening to Bloomberg Studio 0:08:20.840 --> 0:08:24.200 one Point Oh with Alphabet CFO Ruth poor At coming up. 0:08:24.320 --> 0:08:26.720 Google now reaches more than half the people on the 0:08:26.760 --> 0:08:30.640 planet and is battling regulators around the world. Is Google 0:08:30.800 --> 0:08:34.040 a monopoly? We'll put that question to pour At. I'm 0:08:34.040 --> 0:08:43.880 Emily Chang. Stay with us. I want to talk a 0:08:43.920 --> 0:08:46.800 little bit about regulation. You were drawn to M and 0:08:46.880 --> 0:08:49.840 A in your early days at Morgan Stanley. Microsoft is 0:08:49.840 --> 0:08:53.120 making some big acquisitions deals that some think Google maybe 0:08:53.200 --> 0:08:55.840 would have wanted to win in a former life. Is 0:08:55.880 --> 0:09:00.480 antitrust scrutiny constraining any of your business plans and your 0:09:00.520 --> 0:09:04.640 ability to compete. So the main thing that we've done 0:09:05.040 --> 0:09:10.080 throughout the life of Google is really invest in innovation, 0:09:10.280 --> 0:09:13.360 is organic growth, and we're continuing to do that at 0:09:13.360 --> 0:09:16.000 a really rapid clip. We have then layered onto it 0:09:16.559 --> 0:09:19.880 tuck in acquisitions and larger acquisitions, and we're continuing to 0:09:19.960 --> 0:09:22.920 be active more in the smaller ones in the add 0:09:22.920 --> 0:09:25.560 ons to be fair, um, but we think there's a 0:09:25.559 --> 0:09:28.320 lot of opportunity still ahead of us, and so we're 0:09:28.360 --> 0:09:33.840 continuing to invest in partnerships in in some acquisitions. UM. 0:09:33.880 --> 0:09:35.920 And do think that there's there's still upside in a 0:09:35.920 --> 0:09:38.319 lot of different areas. So would you say this regulatory 0:09:38.360 --> 0:09:41.640 scrutiny isn't slowing you down. It's really important for those 0:09:41.679 --> 0:09:45.480 of us in certain leadership positions to be very focused 0:09:45.520 --> 0:09:48.640 on constructively engaging and working with regulators on what are 0:09:48.640 --> 0:09:50.600 the issues, what is it they're trying to solve, and 0:09:50.640 --> 0:09:53.839 how can we constructively engage with them. At the same time, 0:09:54.080 --> 0:09:57.319 our engineers should focus on innovation and continuing to kind 0:09:57.320 --> 0:10:00.280 of up the bar and everything we're doing a rest 0:10:00.400 --> 0:10:03.760 what is most helpful for our users? Google is facing 0:10:03.920 --> 0:10:07.040 more serious legal threats at this time in the United 0:10:07.040 --> 0:10:10.040 States than the other big tech companies. How are those 0:10:10.080 --> 0:10:14.880 conversations with regulators going. Are they frustrating at this point? Well, 0:10:14.880 --> 0:10:19.160 there's certain elements that that are frustrating because I listened 0:10:19.200 --> 0:10:24.400 to the outline of some of the proposed legislation and 0:10:24.440 --> 0:10:27.600 I think it's inconsistent with some of the priorities for 0:10:27.679 --> 0:10:33.200 public policy. So as an example, UM, there are there's 0:10:33.240 --> 0:10:36.920 a lot of focus on what what is called self preferencing. 0:10:36.920 --> 0:10:39.000 Are you putting too many of your own products together? 0:10:39.920 --> 0:10:42.520 But during the pandemic, one and three small businesses said 0:10:42.559 --> 0:10:45.960 they would have failed without digital skills. Why because what 0:10:46.000 --> 0:10:48.360 they were able to do is connect with their users 0:10:48.400 --> 0:10:50.280 in different ways. So if you go search for a 0:10:50.280 --> 0:10:52.000 small business, you can then go to a map and 0:10:52.040 --> 0:10:54.240 you can get directed to the small business. That's a 0:10:54.280 --> 0:10:57.080 good thing. We have six thousand small businesses who wrote 0:10:57.120 --> 0:10:59.280 in and said, you know what, we need these digital 0:10:59.280 --> 0:11:02.240 tools and els same with a number of things on 0:11:02.360 --> 0:11:06.400 racial equity, real surge in searches about where can I 0:11:06.440 --> 0:11:08.600 wears a black owned business near me? And the ability 0:11:08.640 --> 0:11:12.080 to direct people through search and maps. So I think 0:11:12.080 --> 0:11:14.800 that what's really important, And that's why I said it's 0:11:14.840 --> 0:11:18.160 about constructive engagement. Let's make sure we understand what they're 0:11:18.200 --> 0:11:21.080 trying to solve and work with them on what is 0:11:21.080 --> 0:11:23.760 it that we're trying to address through products, so that 0:11:23.800 --> 0:11:26.079 the products are helpful in the ways that they want. 0:11:26.400 --> 0:11:30.520 Facebook has taken a serious reputational hit. Has that had 0:11:30.600 --> 0:11:35.640 ripple effects or created collateral damage for Google? Well, I 0:11:35.679 --> 0:11:41.359 think that whenever there's a backdrop that's that's UM challenging, 0:11:41.840 --> 0:11:46.440 it has ripple effects. But what we're really underscoring is 0:11:46.679 --> 0:11:49.560 all of the steps and investments that we are making 0:11:49.600 --> 0:11:54.280 to really protect the ecosystem the way we our commitment 0:11:54.320 --> 0:11:58.360 to our users, so we know how sacrosanct that trust is. 0:11:58.520 --> 0:12:00.880 And it's all about privacy, and what are the steps 0:12:00.920 --> 0:12:04.160 that we're taking to make privacy UM could protect it 0:12:04.200 --> 0:12:06.120 for our users. What is it that we're looking at 0:12:06.160 --> 0:12:09.920 to protect content and content moderations? Google now reaches more 0:12:09.960 --> 0:12:13.040 than half the people on the planet. Why shouldn't we 0:12:13.160 --> 0:12:17.240 view Google as a monopoly? So you know, I go 0:12:17.360 --> 0:12:21.840 back to the earliest days when Google. I first learned 0:12:21.840 --> 0:12:26.000 about Google back in and in those earliest days when 0:12:26.000 --> 0:12:28.720 I heard about this like eighth search engine. The question 0:12:28.720 --> 0:12:31.160 is why do you actually need it? And back at 0:12:31.160 --> 0:12:34.240 Morgan Stanley's working with our research Anne Listinary Meeker, she 0:12:34.360 --> 0:12:37.320 actually had her team put up white pages all around 0:12:37.320 --> 0:12:41.960 the conference room and was doing this comparison what provided 0:12:42.000 --> 0:12:46.880 the most um responsive results, most rapidly, and all of 0:12:46.920 --> 0:12:49.520 a sudden you could see a way of this Google thing. Actually, 0:12:49.760 --> 0:12:52.840 maybe we do need something new. And that's been the 0:12:52.880 --> 0:12:55.920 ethos at Google since inception is just continued to innovate 0:12:55.960 --> 0:12:58.520 to make this eight and ever better experience for users. 0:12:58.559 --> 0:13:01.360 And so if we can, if we can deliver on that, 0:13:01.520 --> 0:13:05.080 which is what drives people here, it's really opening the 0:13:05.080 --> 0:13:08.240 world for for so many people. So that's that's the intent. 0:13:08.480 --> 0:13:12.320 Facebook and Twitter are exploring digital currency. What is your 0:13:12.360 --> 0:13:14.880 thought on the crypto market and is there a play 0:13:14.880 --> 0:13:18.640 for Google? So we look at it, Um, there's nothing 0:13:18.679 --> 0:13:22.360 to to comment on now. UM, I think we're much 0:13:22.400 --> 0:13:25.040 more interested in blockchain and the underlying technology and the 0:13:25.080 --> 0:13:28.440 implications for the business and also for the way we 0:13:28.480 --> 0:13:31.719 can support our cloud customers. So certainly a lot of 0:13:31.760 --> 0:13:34.920 effort there. There's considerable chatter in the crypto universe that 0:13:35.000 --> 0:13:38.080 Web three and the blockchain could circumvent the power of 0:13:38.480 --> 0:13:42.120 Facebook and Google and more. What do you think about 0:13:42.120 --> 0:13:44.560 the next frontier of the Internet at this point, I 0:13:44.559 --> 0:13:46.800 think there are a lot of different things ahead of 0:13:46.880 --> 0:13:50.440 us that are actually studyingly exciting that enable us to 0:13:50.480 --> 0:13:54.920 actually continue to address different needs and requirements like I 0:13:54.960 --> 0:13:58.320 look at, for example, in something like health, where I 0:13:58.320 --> 0:14:01.520 think blockchain will be very valuable when you think about 0:14:01.520 --> 0:14:04.000 health and health records. They're also a whole host of 0:14:04.040 --> 0:14:06.439 other areas where the data analytics that we provide are 0:14:06.440 --> 0:14:14.520 absolutely critical. This is Bloomberg Studio at one point, Oh 0:14:14.520 --> 0:14:17.959 with Alphabet CFO Ruth Poor at up next for all 0:14:17.960 --> 0:14:21.000 the parents out there, Poor tells us her philosophy to 0:14:21.040 --> 0:14:25.680 managing work, family and mom guilt. She talks about surviving 0:14:25.680 --> 0:14:29.720 breast cancer not once, but twice, and also her favorite 0:14:29.800 --> 0:14:41.720 vacation getaway stay with us. You survived breast cancer twice. 0:14:42.640 --> 0:14:45.440 What was your biggest fear at that time and how 0:14:45.480 --> 0:14:49.280 did you overcome it? Well, the biggest fear was I 0:14:49.280 --> 0:14:53.720 wouldn't make it, and um, I remember when some someone 0:14:53.800 --> 0:14:56.040 had some interview while I was going through chemo, said 0:14:56.080 --> 0:14:57.800 where do you want to be in five years? And 0:14:58.080 --> 0:15:01.280 I froze because it was want to be alive UM, 0:15:02.400 --> 0:15:07.680 and I learned a couple of really important things. UM. One, 0:15:07.840 --> 0:15:12.000 given breakthroughs in medical technology, I learned to love the 0:15:12.040 --> 0:15:16.880 word manageable. These this journey does become manageable, not for 0:15:16.920 --> 0:15:20.760 all cancers, but for many more cancers. And that gave 0:15:20.800 --> 0:15:23.720 me a lot of confidence talking with other survivors about 0:15:24.240 --> 0:15:28.920 it is manageable, get the best care, and just plow 0:15:29.040 --> 0:15:31.600 through it. I was just very grateful and grateful for 0:15:31.640 --> 0:15:34.200 all of the investments people have made over the years. 0:15:34.240 --> 0:15:37.160 But for anybody out there, and I think everybody sadly 0:15:37.160 --> 0:15:39.560 will be touched by cancer, either themselves or someone they 0:15:39.560 --> 0:15:43.320 know and love, many of these cancers are manageable and 0:15:43.480 --> 0:15:46.200 just go at it with gusto. So that's what I did. 0:15:46.640 --> 0:15:48.760 You're a mom of three sons, and I find that 0:15:48.880 --> 0:15:52.960 especially remarkable because I also have three sons. How have 0:15:53.160 --> 0:15:55.960 you managed that over the course of this, you know, 0:15:56.040 --> 0:15:59.240 incredible career. How do you find that right mix of 0:15:59.280 --> 0:16:02.320 focus and free time to spend time with your family 0:16:02.360 --> 0:16:05.960 and doing the things that you love? So my kids, UM, 0:16:06.160 --> 0:16:10.640 My kids give me energy. They're remarkable and I think 0:16:10.760 --> 0:16:13.440 one of the important things for me is this notion 0:16:13.880 --> 0:16:16.520 that you do have to have a mix. It's not 0:16:16.560 --> 0:16:19.080 about trying to find balance, the physics of which is 0:16:19.200 --> 0:16:22.160 really challenging. I think when people try for balance, they 0:16:22.240 --> 0:16:25.520 always feel they're failing on something because something's out of whack. 0:16:26.320 --> 0:16:30.160 So this metaphor that life is like a kaleidoscope and 0:16:30.240 --> 0:16:32.840 you need to have different shaped pieces of glass and 0:16:32.880 --> 0:16:36.000 different color and sometimes one is larger than the other. 0:16:36.240 --> 0:16:40.120 And what's beautiful about life is when it's constantly moving around. 0:16:40.680 --> 0:16:43.680 And so to me, that metaphor has actually been sort 0:16:43.680 --> 0:16:46.840 of an anchoring principle. The other is you have to 0:16:46.880 --> 0:16:50.400 put the kids first, so like they know that I'm 0:16:50.560 --> 0:16:54.400 I'm there, you know when they need always and um 0:16:55.520 --> 0:16:58.680 And I think that just making sure that you're setting 0:16:58.760 --> 0:17:01.200 the boundaries the way you need to. I would say 0:17:01.200 --> 0:17:04.479 it's much easier today than when I was growing up 0:17:04.480 --> 0:17:07.000 in banking, you know, and we had a cubicle, there 0:17:07.040 --> 0:17:09.240 was a there was a computer room. You were anchored 0:17:09.280 --> 0:17:12.240 to the computer room. One of the many beautiful things 0:17:12.280 --> 0:17:17.280 about going through this evolution in work is understanding that 0:17:17.359 --> 0:17:19.800 hybrid works. So how do we get rid of mom guilt? 0:17:20.400 --> 0:17:24.119 Especially in this new work world. I want to shake 0:17:24.160 --> 0:17:26.440 my mom guilt. How do I do that? Okay, So 0:17:27.000 --> 0:17:29.040 even when you feel it, to say, you know what, 0:17:29.160 --> 0:17:32.320 it's an investment in my career because I can stay 0:17:32.359 --> 0:17:35.120 in this longer and be operating at a higher level 0:17:35.200 --> 0:17:38.000 if I'm really getting the stimulus from all parts of 0:17:38.000 --> 0:17:42.000 my life. So you've got to drop the mom guilt. 0:17:42.119 --> 0:17:44.680 And when on the other side mom guilt with kids, 0:17:45.240 --> 0:17:48.320 I think they get it. I think they understand what 0:17:48.359 --> 0:17:50.760 we're doing, and you know, I'll never forget. During the 0:17:50.760 --> 0:17:53.320 financial crisis, at one point I was working on a 0:17:53.440 --> 0:17:55.520 I G. We went around the clock. I came home 0:17:55.560 --> 0:17:57.840 to shower that one like right as we were landing 0:17:57.880 --> 0:18:00.520 a i G, and my three kids had each written 0:18:00.520 --> 0:18:03.959 me a yellow sticky note with a message on it, 0:18:04.400 --> 0:18:06.840 and one of them was based you know. They the 0:18:07.000 --> 0:18:10.840 essence of which was I get why you're doing this 0:18:11.160 --> 0:18:14.600 and it and they saw it as the right thing 0:18:14.640 --> 0:18:17.359 for the country. I don't need to overdramatize what it was, 0:18:17.400 --> 0:18:19.200 but that's what it felt like at the time and 0:18:19.320 --> 0:18:22.119 that level of pride. I still have those three stickies 0:18:22.280 --> 0:18:25.520 right by my bedside because I get it. I get 0:18:25.520 --> 0:18:27.920 the mom guilt. I wish there were certain elements like 0:18:27.960 --> 0:18:31.119 it could have done differently, But I also see the 0:18:31.160 --> 0:18:33.679 relationship we have and they understand what it means to 0:18:34.119 --> 0:18:37.119 actually be engaged in society and doing something you care about. 0:18:37.280 --> 0:18:39.520 No mom gilt, mom gil, thank you, It's not allowed. 0:18:40.040 --> 0:18:43.000 Should we make excuses to our employers? Should we tell her, 0:18:43.119 --> 0:18:45.000 like if I have to head to a parent teacher 0:18:45.040 --> 0:18:47.439 conference or take a kid to the doctor, do I 0:18:47.480 --> 0:18:50.040 tell my boss? You don't tell your boss. You don't 0:18:50.040 --> 0:18:53.560 tell your boss. Guys don't tell their boss, so I 0:18:53.600 --> 0:18:56.520 don't think you say anything. I actually made this point 0:18:56.560 --> 0:18:58.639 at an event at Morgan Stanley. I'm like, do not 0:18:58.760 --> 0:19:01.359 tell your boss. Got to get over the guilt. The 0:19:01.400 --> 0:19:04.400 only way to move on from it is realized. I'm 0:19:04.400 --> 0:19:06.960 a professional. I do things when I when I can, 0:19:07.119 --> 0:19:08.680 and it makes sense and I get it all done. 0:19:08.720 --> 0:19:10.639 I just do it on my own timeline. And I 0:19:10.640 --> 0:19:13.320 actually had a woman who emailed me afterwards and said, 0:19:13.359 --> 0:19:16.080 I know you said I'm not supposed to tell my boss, 0:19:16.200 --> 0:19:18.760 so I won't, but I can't not tell somebody, so 0:19:18.800 --> 0:19:21.400 I'm going to email you. And I'm like, okay, that's 0:19:21.400 --> 0:19:25.200 step one of a five step attorney. Do not tell 0:19:25.240 --> 0:19:27.720 your boss, your tell your boss, you know what, I 0:19:27.760 --> 0:19:30.000 need to do certain things for myself and I it's 0:19:30.200 --> 0:19:32.600 I'm getting I feel guilty doing it, but I get 0:19:32.600 --> 0:19:36.080 everything done. There's no question you are so beyond having 0:19:36.119 --> 0:19:39.600 to check in with people. Well, so do not. We're 0:19:39.600 --> 0:19:42.840 in the middle of this so called Great Resignation and 0:19:42.880 --> 0:19:48.119 people are reflecting and changing and making big decisions. What's 0:19:48.160 --> 0:19:52.439 your advice two people in this you know, big evolution, 0:19:53.359 --> 0:19:56.000 you know, huge choices ahead. Well, I think you framed 0:19:56.040 --> 0:19:58.639 it really well. I don't think it's the Great resignation. 0:19:58.680 --> 0:20:00.960 I think it's the great reshuffle. And people are reflecting 0:20:00.960 --> 0:20:02.680 on what do they want and how do they want 0:20:02.680 --> 0:20:04.280 to work and how do they want to live their life. 0:20:04.280 --> 0:20:06.040 So I think for all of us thinking about what 0:20:06.080 --> 0:20:10.080 does that mean for our institutions. It is about evolving 0:20:10.240 --> 0:20:13.919 the way we we we work, the way we interact, 0:20:14.000 --> 0:20:16.800 the expectations that we have to say. But I grew 0:20:16.880 --> 0:20:18.720 up in a cubicle on the twenty floor of a 0:20:18.760 --> 0:20:22.199 sky rise. Doesn't work anymore, and so what should we 0:20:22.280 --> 0:20:26.320 do as leaders? And I think that our this generation, 0:20:26.440 --> 0:20:30.200 appropriately and it's very exciting, expects more from all of us. 0:20:30.320 --> 0:20:32.480 And so it's not just in how we work. But 0:20:32.560 --> 0:20:34.960 it is in what we do, and I think all 0:20:35.000 --> 0:20:38.240 elements of what's the mission? Are you delivering on the mission? 0:20:38.359 --> 0:20:41.000 Is really important? Okay, So if you rapid fire questions 0:20:41.119 --> 0:20:45.680 someone you'd love to have dinner with, Well, I'd love 0:20:45.720 --> 0:20:48.520 to say my parents because they passed away in over 0:20:48.560 --> 0:20:52.439 of years ago. Favorite family ritual. We do this crazy 0:20:52.520 --> 0:20:55.400 thing that we've done for years, which is everybody gets 0:20:55.400 --> 0:20:58.159 to pick where we travel. We come up with the 0:20:58.200 --> 0:21:01.320 five the five different low patients, and then we all vote, 0:21:01.320 --> 0:21:03.520 and then we get the grid and that's where we go. 0:21:03.720 --> 0:21:08.560 What's your favorite getaway? Um? Probably I would say maybe 0:21:08.600 --> 0:21:11.880 Iceland was the best. That's an amazing one. New York 0:21:11.960 --> 0:21:18.800 or California so unfair. Well, sitting here outdoors right now 0:21:18.880 --> 0:21:20.280 and knowing I can do that for the rest of 0:21:20.280 --> 0:21:22.200 the years, pretty nice with the energy from New York. 0:21:22.240 --> 0:21:25.399 So I'm not gonna It's like I don't pick amongst children. 0:21:25.560 --> 0:21:28.840 So in closing, Google is a massive company, multiple divisions, 0:21:29.000 --> 0:21:31.480 many bets. Where are you spending most of your time now? 0:21:32.720 --> 0:21:35.159 I'm spending most of my time on your very more 0:21:35.240 --> 0:21:39.000 in question about capital allocation because if it really goes 0:21:39.040 --> 0:21:42.920 to this core point, you've got to invest for long 0:21:43.000 --> 0:21:46.760 term growth and making sure that you're investing with the 0:21:46.960 --> 0:21:49.680 right intensity. I often say I don't want to get 0:21:49.720 --> 0:21:51.359 to the two yard line, but not score. So you 0:21:51.359 --> 0:21:54.000 need to make sure you're investing with the right intensity 0:21:54.080 --> 0:21:57.639 to support long term growth. That's the most important area 0:21:57.760 --> 0:22:00.680