1 00:00:02,520 --> 00:00:10,160 Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News. Welcome to the Bloomberg 2 00:00:10,240 --> 00:00:15,920 Speaker 1: This Weekend Podcast with David Gura, Christina Raffini, and Lisa Matteo. 3 00:00:17,680 --> 00:00:20,600 Speaker 2: Thanks for joining us for today's selection of conversations from 4 00:00:20,600 --> 00:00:20,959 Speaker 2: the show. 5 00:00:21,200 --> 00:00:23,479 Speaker 3: You can listen to our favorite discussions right here on 6 00:00:23,520 --> 00:00:25,800 Speaker 3: the podcast, but also make sure to join us live 7 00:00:25,960 --> 00:00:29,080 Speaker 3: every Saturday and Sunday morning, starting at seven am Eastern. 8 00:00:29,160 --> 00:00:32,760 Speaker 4: We're on Bloomberg Television, Radio and the Bloomberg Business App, 9 00:00:33,040 --> 00:00:37,600 Speaker 4: bringing you unique takes and in depth interviews on news, politics, 10 00:00:37,680 --> 00:00:39,120 Speaker 4: lifestyle and culture. 11 00:00:41,960 --> 00:00:45,239 Speaker 5: The two chambers of Congress at an impasse over how 12 00:00:45,280 --> 00:00:47,519 Speaker 5: to fund the Department of Homeland Security. That's after a 13 00:00:47,640 --> 00:00:50,760 Speaker 5: series two late night votes, no clear solution. Both the 14 00:00:50,800 --> 00:00:53,159 Speaker 5: House and the Senate are now on easter recess. 15 00:00:53,400 --> 00:00:56,240 Speaker 2: President Trump signed a memo to PAYTSA workers who have 16 00:00:56,360 --> 00:00:59,320 Speaker 2: worked without pay for weeks now, of course, leading to 17 00:00:59,360 --> 00:01:02,800 Speaker 2: those sprawling lines that you've seen at US air Force Airports. 18 00:01:03,080 --> 00:01:05,360 Speaker 2: Joining us now from Washington, we have Bloomberg News Congression 19 00:01:05,360 --> 00:01:07,680 Speaker 2: reporter Eric Wilson. Eric, I appreciate you getting up. I 20 00:01:07,720 --> 00:01:10,280 Speaker 2: saw you sending notes very late last night. We did 21 00:01:10,280 --> 00:01:12,720 Speaker 2: offer to send you coffee but you told us shockingly 22 00:01:12,800 --> 00:01:15,080 Speaker 2: and very impressively that you've never used door dash or 23 00:01:15,160 --> 00:01:15,680 Speaker 2: uber eats. 24 00:01:15,720 --> 00:01:17,160 Speaker 6: I wanted to focus on that before. 25 00:01:16,959 --> 00:01:20,200 Speaker 2: We get to Congress because it's so lovely one night. 26 00:01:20,240 --> 00:01:22,640 Speaker 7: As you can see behind me, I print books, you know, 27 00:01:22,760 --> 00:01:23,920 Speaker 7: so we make our own breakfast. 28 00:01:23,880 --> 00:01:24,160 Speaker 8: All right. 29 00:01:24,720 --> 00:01:26,080 Speaker 7: I do appreciate the offera guys. 30 00:01:26,080 --> 00:01:27,040 Speaker 9: All right, we're very grateful. 31 00:01:27,040 --> 00:01:30,040 Speaker 2: Nonetheless, can you walk us through where everything is at? 32 00:01:30,319 --> 00:01:33,000 Speaker 2: You know, the Senate passed a version of this with 33 00:01:33,040 --> 00:01:34,880 Speaker 2: an ice carve out. It went to the House and 34 00:01:34,920 --> 00:01:37,640 Speaker 2: then it went nowhere. The House has done something that's 35 00:01:37,720 --> 00:01:40,120 Speaker 2: doa in the Senate. Just please update us on what's 36 00:01:40,120 --> 00:01:41,320 Speaker 2: going on into the use chambers. 37 00:01:41,400 --> 00:01:44,600 Speaker 7: It's an extraordinary breach between House and Senate Republicans, you know. 38 00:01:44,680 --> 00:01:48,400 Speaker 7: John Thune crafted this bill middle of the night, basically 39 00:01:48,400 --> 00:01:50,760 Speaker 7: funding the full Department of Homeland Security for the rest 40 00:01:50,760 --> 00:01:54,320 Speaker 7: of the physical year till October, except for border patrol 41 00:01:54,480 --> 00:01:58,440 Speaker 7: and ice immigration enforcement activities. That passed unanimously on a 42 00:01:58,520 --> 00:02:00,800 Speaker 7: voice vote. As soon as to the House, it was 43 00:02:00,880 --> 00:02:03,600 Speaker 7: promptly rejected by the House Freedom Caucus and Speaker of 44 00:02:03,600 --> 00:02:05,960 Speaker 7: Mike Johnson, who's always, you know, trying to shore up 45 00:02:06,000 --> 00:02:09,320 Speaker 7: support with different parts of his conference went along with 46 00:02:09,360 --> 00:02:12,519 Speaker 7: that Freedom Caucus demand to reject the Senate bill. Instead, 47 00:02:12,520 --> 00:02:16,280 Speaker 7: they passed an eight week continuing resolution for the whole department, 48 00:02:16,320 --> 00:02:19,560 Speaker 7: but that again funds ICE without any new reforms that 49 00:02:19,600 --> 00:02:22,960 Speaker 7: Democrats have demanded, and Chuck Schumer said that's da, So 50 00:02:23,000 --> 00:02:27,160 Speaker 7: the standoff continues. Importantly, Trump has signed this memo paying 51 00:02:27,200 --> 00:02:29,880 Speaker 7: TSA agents as soon as Monday, so that should alleviate 52 00:02:29,919 --> 00:02:31,720 Speaker 7: the lines. But it's important to point out there are 53 00:02:31,760 --> 00:02:34,280 Speaker 7: other members of the Department, whether your secret Service worker, 54 00:02:34,639 --> 00:02:38,400 Speaker 7: you know, human trafficking, people in the Secretary's office, you know, 55 00:02:38,480 --> 00:02:40,799 Speaker 7: people who are doing communications. You know, there are a 56 00:02:40,800 --> 00:02:42,520 Speaker 7: lot of people who are not going to get paid, 57 00:02:42,520 --> 00:02:44,280 Speaker 7: continue to not get paid. It's it's going to become 58 00:02:44,280 --> 00:02:47,560 Speaker 7: a difficult thing. This is over forty days now, you know, 59 00:02:47,560 --> 00:02:49,239 Speaker 7: and they're going to be held hostage. I don't see 60 00:02:49,240 --> 00:02:51,720 Speaker 7: the Senate and House coming back during this two week recess. 61 00:02:52,000 --> 00:02:54,760 Speaker 7: I don't really see a solution anytime soon. The main 62 00:02:54,760 --> 00:02:57,080 Speaker 7: thing they're going to try to do is budget reconciliation 63 00:02:57,240 --> 00:03:01,079 Speaker 7: bill and a massive package of the Trump tax bill, 64 00:03:01,080 --> 00:03:03,520 Speaker 7: where they did put some immigration enforcement money, but they 65 00:03:03,520 --> 00:03:06,280 Speaker 7: need all Republicans to unite. Everyone wants to throw their 66 00:03:06,320 --> 00:03:08,240 Speaker 7: things in. I talked to a member of the New 67 00:03:08,320 --> 00:03:11,320 Speaker 7: York delegation who wants the salt deduction of all things 68 00:03:11,360 --> 00:03:13,560 Speaker 7: extended again. So this is going to become a massive 69 00:03:13,600 --> 00:03:16,640 Speaker 7: food fight and these workers are going to be held hostage. 70 00:03:16,639 --> 00:03:19,639 Speaker 7: Now that President could try an extraordinary measure to try 71 00:03:19,639 --> 00:03:23,359 Speaker 7: to potentially illegally pay those other DHS workers from this 72 00:03:23,760 --> 00:03:26,400 Speaker 7: fund for border security. But you know, I don't see 73 00:03:26,400 --> 00:03:28,360 Speaker 7: a solution anytime soon that's really permanent. 74 00:03:28,400 --> 00:03:29,960 Speaker 5: You bring up the President, and I want to play 75 00:03:29,960 --> 00:03:31,600 Speaker 5: a little bit of sound here of the President in 76 00:03:31,600 --> 00:03:35,040 Speaker 5: Miami last night speaking of that FII conference, addressing what's 77 00:03:35,080 --> 00:03:37,680 Speaker 5: transpired here and also his relationship with the leadership in 78 00:03:37,720 --> 00:03:38,160 Speaker 5: the Congress. 79 00:03:38,160 --> 00:03:38,720 Speaker 10: To take a listen. 80 00:03:39,280 --> 00:03:45,520 Speaker 8: I understand John Tune, and I understand Mike Johnson. They 81 00:03:45,600 --> 00:03:48,160 Speaker 8: want to be sure that people aren't coming into our 82 00:03:48,200 --> 00:03:50,680 Speaker 8: country like they have for the last four years. 83 00:03:51,680 --> 00:03:54,080 Speaker 11: I don't want to say they've ruined it. They made 84 00:03:54,160 --> 00:03:55,360 Speaker 11: my job a lot harder. 85 00:03:55,680 --> 00:03:57,400 Speaker 5: They made my job a lot harder. The President, they're 86 00:03:57,400 --> 00:03:59,920 Speaker 5: on the tarmac traveling to that conference. I'm Eric Watson. 87 00:04:00,440 --> 00:04:03,280 Speaker 5: Talk a bit about the presence engagement not with this 88 00:04:03,400 --> 00:04:06,200 Speaker 5: memo finding a way to pay these TSA workers, but 89 00:04:06,240 --> 00:04:08,600 Speaker 5: with this issue more broadly, and what that says about 90 00:04:08,840 --> 00:04:10,600 Speaker 5: even more broadly than that, the way that he's been 91 00:04:10,640 --> 00:04:12,800 Speaker 5: interacting with this Congress and with congressional leadership. 92 00:04:13,720 --> 00:04:15,600 Speaker 7: It was an extraordinary comment because it almost like Trump 93 00:04:15,680 --> 00:04:20,279 Speaker 7: was playing peacemaker between feuding House and Senate Republican leaders, 94 00:04:20,279 --> 00:04:23,080 Speaker 7: which I'm sure a role that he would enjoy. He 95 00:04:23,160 --> 00:04:27,000 Speaker 7: is still questing after that Nobel Peace Prize AfterAll, you know, 96 00:04:27,040 --> 00:04:29,440 Speaker 7: but he's trying to, I think, in that case, smooth 97 00:04:29,440 --> 00:04:33,240 Speaker 7: over differences. It's extraordinary that that, you know, Speaker doesn't 98 00:04:33,240 --> 00:04:37,200 Speaker 7: called what Fune did a joke ridiculousness. We asked him 99 00:04:37,200 --> 00:04:39,359 Speaker 7: about it, he tried to sort of sidestep in and 100 00:04:39,360 --> 00:04:41,599 Speaker 7: say that that was Chuck Schumer who really engineered this. 101 00:04:41,760 --> 00:04:44,560 Speaker 7: But we're trying to see what kind of long term 102 00:04:44,839 --> 00:04:47,800 Speaker 7: consequences of this rift will be. Can they do this 103 00:04:47,839 --> 00:04:50,120 Speaker 7: new tax and spending bill? Are they able to unite 104 00:04:50,120 --> 00:04:52,920 Speaker 7: in a midterm message? Certainly the tension between the two 105 00:04:53,000 --> 00:04:57,080 Speaker 7: chambers is extraordinary, you know. But the immigration issue was 106 00:04:57,320 --> 00:05:00,000 Speaker 7: historically one of Trump's strong suits. I think the American 107 00:05:00,040 --> 00:05:04,080 Speaker 7: public generally want stronger borders. But then what happened in 108 00:05:04,120 --> 00:05:07,919 Speaker 7: Minnesota with the ICE enforcement, the sort of chaos and 109 00:05:08,000 --> 00:05:10,880 Speaker 7: the practices sort of weakened his popularity on that gave 110 00:05:10,920 --> 00:05:13,160 Speaker 7: Democrats and opening to demand these changes. 111 00:05:13,480 --> 00:05:14,240 Speaker 12: That was very interesting. 112 00:05:14,279 --> 00:05:17,359 Speaker 7: Last night there was a small press conference barely attended 113 00:05:17,400 --> 00:05:21,719 Speaker 7: by media of Brian Fitzpatrick and Tom Swasey, two members 114 00:05:21,760 --> 00:05:23,960 Speaker 7: of the Problem Solvers Caucus, and they have a very 115 00:05:23,960 --> 00:05:27,880 Speaker 7: intriguing idea to sort of pass some of these reforms. 116 00:05:28,600 --> 00:05:30,960 Speaker 7: You know, a Congress that's more open to conference would 117 00:05:30,960 --> 00:05:33,560 Speaker 7: probably embrace something like that, but such a long shot. 118 00:05:33,600 --> 00:05:35,800 Speaker 7: They're even talking about a discharge petition, a really long 119 00:05:35,839 --> 00:05:38,880 Speaker 7: shot petition to try to get this done. But Congress 120 00:05:38,880 --> 00:05:40,880 Speaker 7: is nowhere near grappling with this. But I think if 121 00:05:41,040 --> 00:05:43,360 Speaker 7: the public were to be consulted, they would want to 122 00:05:43,360 --> 00:05:46,240 Speaker 7: see some kind of changes to ICE behavior, maybe not 123 00:05:46,320 --> 00:05:49,000 Speaker 7: having masked agents, you know, being able to go willy 124 00:05:49,040 --> 00:05:50,080 Speaker 7: nearly into people's homes. 125 00:05:51,040 --> 00:05:52,920 Speaker 5: Eric Watson, thank you very much again, appreciate you joining 126 00:05:52,960 --> 00:05:54,320 Speaker 5: us here on the Saturday morning earlier. 127 00:05:54,360 --> 00:05:57,000 Speaker 2: We want to bring in Jill Degenevitch. She's a TSA 128 00:05:57,000 --> 00:06:00,400 Speaker 2: worker in Las Vegas and the Nevada union representative Jill. 129 00:06:00,440 --> 00:06:01,799 Speaker 2: First of all, I just want to check. 130 00:06:01,600 --> 00:06:02,160 Speaker 11: In on you. 131 00:06:02,600 --> 00:06:04,880 Speaker 2: How are you doing. I know you've got kids. I 132 00:06:04,920 --> 00:06:07,320 Speaker 2: know I can't imagine how tough this has been. Missing 133 00:06:07,320 --> 00:06:09,120 Speaker 2: a paycheck. Just bring us up to date about how 134 00:06:09,160 --> 00:06:10,760 Speaker 2: you're doing and what your frustrations are. 135 00:06:12,880 --> 00:06:17,000 Speaker 13: Well, yeah, definitely, very very frustrated. We are incredibly thankful 136 00:06:17,160 --> 00:06:19,760 Speaker 13: that Trump did put out the executive order that we 137 00:06:19,880 --> 00:06:23,280 Speaker 13: supposedly start to be paid on Monday. We're supposed to 138 00:06:23,279 --> 00:06:26,960 Speaker 13: get our back pay, only nothing continuing on. So it's 139 00:06:27,240 --> 00:06:29,640 Speaker 13: while we are thankful and we're grateful that we will 140 00:06:29,839 --> 00:06:32,960 Speaker 13: supposedly be getting that, it's really just a temporary band 141 00:06:33,000 --> 00:06:34,760 Speaker 13: aid because we're not going to be paid from here 142 00:06:34,800 --> 00:06:37,839 Speaker 13: on out. It's just our back pay, so essentially we're 143 00:06:37,880 --> 00:06:39,040 Speaker 13: just resetting the clock. 144 00:06:39,839 --> 00:06:42,359 Speaker 5: What has the conversation been like among you and your 145 00:06:42,440 --> 00:06:44,320 Speaker 5: colleagues as all of this is unfolded. We've seen the 146 00:06:44,360 --> 00:06:46,680 Speaker 5: numbers of those who have left, decided to quit, or 147 00:06:46,680 --> 00:06:48,839 Speaker 5: haven't gone to work because they have been getting paychecks. 148 00:06:49,920 --> 00:06:51,720 Speaker 5: What have you been talking about with your colleagues about 149 00:06:51,720 --> 00:06:53,200 Speaker 5: how this has gone and what it says just about 150 00:06:53,240 --> 00:06:55,440 Speaker 5: the the state of the government, the state of the agency. 151 00:06:57,279 --> 00:07:00,440 Speaker 13: It's frustrating because this is the third ten that this 152 00:07:00,480 --> 00:07:03,560 Speaker 13: has happened in five months, and because it keeps happening, 153 00:07:03,960 --> 00:07:06,520 Speaker 13: We're just wondering what that means for the future of 154 00:07:06,560 --> 00:07:09,280 Speaker 13: our agency. You know, privatization has been thrown out there 155 00:07:09,360 --> 00:07:11,640 Speaker 13: a lot, it's been being talked about a lot more, 156 00:07:11,880 --> 00:07:13,960 Speaker 13: and the fact that they're so easily able to shut 157 00:07:14,040 --> 00:07:16,640 Speaker 13: us down, we are frankly just worried about our jobs 158 00:07:16,680 --> 00:07:17,240 Speaker 13: in the future. 159 00:07:18,240 --> 00:07:22,280 Speaker 2: Is there any concern about this impacting the safety of 160 00:07:22,320 --> 00:07:24,320 Speaker 2: the flying public. I know that the workers who are 161 00:07:24,320 --> 00:07:26,760 Speaker 2: on the job are doing their absolute best, but you know, 162 00:07:27,200 --> 00:07:29,520 Speaker 2: about forty percent of workers have called and stick across 163 00:07:29,520 --> 00:07:31,880 Speaker 2: the country. According to the AP, there's about five hundred 164 00:07:31,920 --> 00:07:34,240 Speaker 2: TSA workers who reportedly have quit due to lack of 165 00:07:34,240 --> 00:07:36,880 Speaker 2: payment and frustration. At some point, is this going to 166 00:07:36,920 --> 00:07:39,160 Speaker 2: start impacting safety or are we there already? 167 00:07:40,760 --> 00:07:40,840 Speaker 8: No? 168 00:07:40,960 --> 00:07:41,560 Speaker 10: I don't think. 169 00:07:41,400 --> 00:07:44,280 Speaker 13: Safety is going to be affected because we still do 170 00:07:44,360 --> 00:07:46,680 Speaker 13: have our very dedicated officers that are on the job 171 00:07:46,800 --> 00:07:50,240 Speaker 13: serving the public. However, those lines will continue to go 172 00:07:50,480 --> 00:07:53,040 Speaker 13: up the more that we lose officers and the more 173 00:07:53,040 --> 00:07:55,240 Speaker 13: that people called out, so it'll just take a lot 174 00:07:55,280 --> 00:07:57,240 Speaker 13: longer and people will end up missing their flights more 175 00:07:57,240 --> 00:07:57,800 Speaker 13: because of it. 176 00:07:58,200 --> 00:08:01,120 Speaker 5: Jill, what's it been like having ICE agents deployed in 177 00:08:01,160 --> 00:08:02,840 Speaker 5: the airports? I think when that was first and Nounce, 178 00:08:02,880 --> 00:08:04,400 Speaker 5: something that we were talking about on the show is 179 00:08:04,440 --> 00:08:06,360 Speaker 5: what would that look like? Would they be doing some 180 00:08:06,440 --> 00:08:08,760 Speaker 5: of the work that you and your colleagues do. Are 181 00:08:08,760 --> 00:08:11,240 Speaker 5: they working alongside you or with you? Just on a 182 00:08:11,320 --> 00:08:13,800 Speaker 5: very granular level. What has it been like having them 183 00:08:13,800 --> 00:08:14,640 Speaker 5: in the airports. 184 00:08:16,160 --> 00:08:18,480 Speaker 13: Well, we haven't actually had them deployed in Las Vegas 185 00:08:18,480 --> 00:08:21,760 Speaker 13: because our lines haven't been that long. However, because they 186 00:08:21,760 --> 00:08:23,960 Speaker 13: aren't trained to do our jobs, I don't know how 187 00:08:24,000 --> 00:08:27,360 Speaker 13: much help they would actually be. Essentially, they would be 188 00:08:27,480 --> 00:08:31,160 Speaker 13: delegated to roles serving out into queue, moving traffic, pushing 189 00:08:31,200 --> 00:08:36,240 Speaker 13: it around, helping passengers divest items from their bags. Essentially, 190 00:08:36,360 --> 00:08:38,520 Speaker 13: I don't know how helpful that would be to us, 191 00:08:38,600 --> 00:08:41,760 Speaker 13: because again, they aren't trained to do our jobs like 192 00:08:41,880 --> 00:08:44,920 Speaker 13: we are, so they aren't properly able to help passengers 193 00:08:44,920 --> 00:08:47,360 Speaker 13: divest items from their bags, thus leading to more bag 194 00:08:47,480 --> 00:08:50,280 Speaker 13: checks on our end while we are actually screening those 195 00:08:50,480 --> 00:08:51,160 Speaker 13: that luggage. 196 00:08:51,200 --> 00:08:53,440 Speaker 2: And that's kind of what we're seeing for audio listeners 197 00:08:53,480 --> 00:08:55,520 Speaker 2: is ICE agents they are on the airport, but even 198 00:08:55,559 --> 00:08:57,920 Speaker 2: in the video we're watching right now, they're mostly ushering 199 00:08:57,960 --> 00:08:59,679 Speaker 2: traffic through those I don't know what they're called, those 200 00:08:59,679 --> 00:09:02,520 Speaker 2: like dizzy world style rope lines that we all have 201 00:09:02,559 --> 00:09:04,720 Speaker 2: to go through so much of our lives. I someone 202 00:09:04,760 --> 00:09:07,000 Speaker 2: to ask you, I don't tell us how long you've 203 00:09:07,000 --> 00:09:09,559 Speaker 2: been with TSA, And look, it's a tough job. People 204 00:09:09,559 --> 00:09:11,680 Speaker 2: at airports are cranky. I always try to be nice. 205 00:09:11,760 --> 00:09:12,480 Speaker 10: Not everyone tries. 206 00:09:12,679 --> 00:09:16,760 Speaker 2: Sure I can be nice, just not to you. I 207 00:09:16,800 --> 00:09:18,640 Speaker 2: love my TSA agents that am nice to you. 208 00:09:19,480 --> 00:09:21,000 Speaker 10: But it's a tough job. 209 00:09:21,480 --> 00:09:24,800 Speaker 2: It takes skill, and it takes patience, and it has 210 00:09:24,880 --> 00:09:27,280 Speaker 2: to be stressful. And I would imagine adding this kind 211 00:09:27,320 --> 00:09:29,920 Speaker 2: of stress and uncertainty to a job that people probably 212 00:09:29,920 --> 00:09:33,200 Speaker 2: went to looking for security and sustainability in their lives 213 00:09:33,480 --> 00:09:36,600 Speaker 2: has to undercut the desire to do this job and 214 00:09:36,679 --> 00:09:39,320 Speaker 2: for recruitment. Do you have any concerns long term about 215 00:09:39,520 --> 00:09:42,000 Speaker 2: people wanting to be or stay TSA agents? 216 00:09:43,720 --> 00:09:47,079 Speaker 13: Definitely. I have been with TSA for almost three years now, 217 00:09:47,200 --> 00:09:50,080 Speaker 13: and so this is my first real experience going through this. 218 00:09:50,280 --> 00:09:52,440 Speaker 13: It is just like we are living in a twilight 219 00:09:52,520 --> 00:09:54,439 Speaker 13: zone right now. It is crazy to me that this 220 00:09:54,520 --> 00:09:57,199 Speaker 13: is happening. I did not expect that this would happen 221 00:09:57,240 --> 00:09:59,840 Speaker 13: when I initially signed on to federal service three years ago. 222 00:10:00,360 --> 00:10:03,400 Speaker 13: I believe that this would be a nice, safe, secure 223 00:10:03,480 --> 00:10:05,360 Speaker 13: career job for me. I thought it was a great 224 00:10:05,360 --> 00:10:09,920 Speaker 13: opportunity with recruitment. I believe that people will be coming 225 00:10:09,960 --> 00:10:13,200 Speaker 13: in and they will be cognizant of the fact that, yes, 226 00:10:13,280 --> 00:10:17,120 Speaker 13: this is an agency that can be shut down very easily, 227 00:10:17,520 --> 00:10:19,120 Speaker 13: and so I don't know that we would get the 228 00:10:19,200 --> 00:10:21,880 Speaker 13: highest quality of people that we normally would have because 229 00:10:21,920 --> 00:10:22,160 Speaker 13: of that. 230 00:10:22,480 --> 00:10:23,840 Speaker 12: Jill, I want to ask you where all this is headed. 231 00:10:23,880 --> 00:10:26,560 Speaker 5: You brought up the specter of privatization a moment ago, 232 00:10:26,600 --> 00:10:29,840 Speaker 5: and I've noticed, I'm sure you have editorials and newspapers 233 00:10:29,960 --> 00:10:33,040 Speaker 5: articles being written about how at some airports that do 234 00:10:33,080 --> 00:10:35,800 Speaker 5: have private security, there haven't been these lines. There's an 235 00:10:35,800 --> 00:10:37,680 Speaker 5: effort here to make it seem like that might be 236 00:10:37,720 --> 00:10:41,079 Speaker 5: the solution going forward. I'm very curious sort of how 237 00:10:41,120 --> 00:10:43,760 Speaker 5: worried that makes you, and you, being a representative of 238 00:10:43,800 --> 00:10:45,800 Speaker 5: your union, sort of what you're doing to make the 239 00:10:45,840 --> 00:10:47,240 Speaker 5: case that that should not be the route that this 240 00:10:47,280 --> 00:10:48,040 Speaker 5: country goes. 241 00:10:47,880 --> 00:10:52,520 Speaker 13: Down with privatization. That is going to be a for 242 00:10:52,679 --> 00:10:56,000 Speaker 13: profit model. I don't believe that aviation security should ever 243 00:10:56,040 --> 00:10:59,440 Speaker 13: be a pro for profit model. The beauty of it 244 00:10:59,520 --> 00:11:02,200 Speaker 13: being a federal program is that you're not there to 245 00:11:02,280 --> 00:11:05,439 Speaker 13: make money. You're there to screen passengers and share the 246 00:11:05,520 --> 00:11:08,440 Speaker 13: highest levels of security. That is my biggest fear with 247 00:11:08,520 --> 00:11:11,920 Speaker 13: going private, that these private screening companies would come in 248 00:11:12,120 --> 00:11:14,480 Speaker 13: and they would cut costs wherever they can, whether that 249 00:11:14,559 --> 00:11:16,960 Speaker 13: be with training, whether that be with background checks, whether 250 00:11:17,000 --> 00:11:21,679 Speaker 13: that would be with hiring and implementing new equipment and programs. 251 00:11:22,040 --> 00:11:24,160 Speaker 13: So that is my biggest concern with that is that 252 00:11:24,200 --> 00:11:26,880 Speaker 13: they would be here to make money rather than to 253 00:11:27,000 --> 00:11:29,320 Speaker 13: actually do the job that we're here to put forth, 254 00:11:29,720 --> 00:11:32,640 Speaker 13: which is to screen passengers and luggage and keep America safe. 255 00:11:32,760 --> 00:11:35,040 Speaker 2: All right, Jesse Janovitch, thank you so much for joining us, 256 00:11:35,040 --> 00:11:36,520 Speaker 2: and I promise I will be very nice if I 257 00:11:36,679 --> 00:11:37,360 Speaker 2: see you in Vegas. 258 00:11:37,400 --> 00:11:38,120 Speaker 6: We really appreciate it. 259 00:11:38,120 --> 00:11:40,920 Speaker 5: Well, it's funny the lines haven't been that long at 260 00:11:40,920 --> 00:11:42,360 Speaker 5: some Emerorks they have at others in New York, and 261 00:11:42,400 --> 00:11:43,880 Speaker 5: there's like four four and a half hours, and just 262 00:11:43,920 --> 00:11:46,160 Speaker 5: getting a grip on that throughout all of this, and 263 00:11:46,200 --> 00:11:47,120 Speaker 5: it's unpredictable too. 264 00:11:47,120 --> 00:11:49,120 Speaker 2: I think people are also getting to the airport's earlier, 265 00:11:49,160 --> 00:11:51,120 Speaker 2: which you know they have usual peak times, they may 266 00:11:51,160 --> 00:11:53,719 Speaker 2: not be used to because people are panicking. So is 267 00:11:53,760 --> 00:11:55,480 Speaker 2: I my friend just want the JFCN. It was ninety 268 00:11:55,480 --> 00:11:57,800 Speaker 2: minutes minutes, great but not terrible. It's workable. 269 00:12:00,080 --> 00:12:03,000 Speaker 3: Stay with us for more on Bloomberg this weekend. Right 270 00:12:03,040 --> 00:12:03,560 Speaker 3: after this. 271 00:12:15,080 --> 00:12:17,040 Speaker 2: All right, a little while ago, we spoke to Senators 272 00:12:17,080 --> 00:12:20,240 Speaker 2: Todd Young, a Republican from Indiana, and Alyssa Slotkin, a 273 00:12:20,320 --> 00:12:23,400 Speaker 2: Democrat from Michigan. That was just hours before the Senate 274 00:12:23,440 --> 00:12:26,280 Speaker 2: passed a DHS funding package, which, as we just mentioned, 275 00:12:26,320 --> 00:12:29,760 Speaker 2: the House rejected a new funding package, of course, is 276 00:12:29,800 --> 00:12:30,920 Speaker 2: now stalled on the hip. 277 00:12:31,960 --> 00:12:34,520 Speaker 5: We're focused so much on funding for the Department of 278 00:12:34,559 --> 00:12:37,000 Speaker 5: Homeland Security and know that there's a standoff there between 279 00:12:37,000 --> 00:12:38,800 Speaker 5: these two parties. Let me start with you first, sent 280 00:12:38,880 --> 00:12:41,439 Speaker 5: or Young, Where are we in this process? How much 281 00:12:41,440 --> 00:12:43,560 Speaker 5: closer are we to any kind of resolution to this 282 00:12:43,640 --> 00:12:45,559 Speaker 5: partial shutdown that stretched on longer than a month? 283 00:12:46,400 --> 00:12:49,880 Speaker 14: Well, I know I speak in a broadly bipartisan way. 284 00:12:50,440 --> 00:12:53,160 Speaker 14: I know Centator Slotkin agrees with me. Where we are 285 00:12:53,360 --> 00:12:56,000 Speaker 14: is exhausted with this issue. We want to come to 286 00:12:56,120 --> 00:12:59,319 Speaker 14: terms in a bipartisan way. We want to fund TSA 287 00:13:00,040 --> 00:13:03,400 Speaker 14: on our homeland to be more secure and listen, there 288 00:13:03,400 --> 00:13:07,640 Speaker 14: have been some principal disagreements about ICE and how they 289 00:13:07,640 --> 00:13:11,200 Speaker 14: are to operate, and other important public policy issues that 290 00:13:11,240 --> 00:13:13,600 Speaker 14: have been in play, But I think we're all getting 291 00:13:13,679 --> 00:13:17,440 Speaker 14: much closer to a meeting of minds on these issues. 292 00:13:17,480 --> 00:13:18,280 Speaker 11: That's my sense. 293 00:13:18,760 --> 00:13:23,000 Speaker 14: Our leaders are now talking somewhat sometimes through intermediaries, and 294 00:13:23,200 --> 00:13:25,360 Speaker 14: I think there's a sense of urgency that I feel 295 00:13:25,360 --> 00:13:28,480 Speaker 14: here in the halls of Congress to finally get this 296 00:13:28,600 --> 00:13:30,360 Speaker 14: result for the American people, your. 297 00:13:30,200 --> 00:13:33,280 Speaker 15: Sense, as well as sentator slackin Yeah, I mean, I think, look, 298 00:13:33,320 --> 00:13:35,800 Speaker 15: we're about to We're supposed to be going on two 299 00:13:35,800 --> 00:13:39,120 Speaker 15: weeks of you know, home leave, and I don't think 300 00:13:39,200 --> 00:13:41,200 Speaker 15: anyone feels that we should be leaving, at least I 301 00:13:41,200 --> 00:13:42,800 Speaker 15: don't until we figure this out. 302 00:13:42,880 --> 00:13:43,040 Speaker 11: Right. 303 00:13:43,040 --> 00:13:45,080 Speaker 16: We also are the ones who travel through the airports 304 00:13:45,120 --> 00:13:48,520 Speaker 16: twice a week and have to face the TSA officers 305 00:13:48,559 --> 00:13:50,920 Speaker 16: who are keeping us safe while also not being paid. 306 00:13:51,000 --> 00:13:53,400 Speaker 16: So I think it's coming to a head as it should. 307 00:13:54,360 --> 00:13:56,480 Speaker 16: And I think, look, you know, personally, I think we're 308 00:13:56,520 --> 00:13:59,840 Speaker 16: having a big cultural conversation on the roll of ICE 309 00:14:00,040 --> 00:14:02,960 Speaker 16: and law enforcement in our streets. But the missions of 310 00:14:02,960 --> 00:14:06,000 Speaker 16: all the other parts of homeland security. As a former 311 00:14:06,040 --> 00:14:09,640 Speaker 16: CIA officer, I worked alongside those offices my entire career. 312 00:14:09,800 --> 00:14:12,160 Speaker 16: I would fund them today, So I think there's actually 313 00:14:12,200 --> 00:14:14,520 Speaker 16: a lot of overlap. We just need people to kind 314 00:14:14,520 --> 00:14:17,760 Speaker 16: of buckle down, sit down, shut out the news media, 315 00:14:17,840 --> 00:14:20,280 Speaker 16: no offense, and just get it done so we can 316 00:14:20,760 --> 00:14:22,480 Speaker 16: go on with our lives. And then I think there's 317 00:14:22,480 --> 00:14:25,240 Speaker 16: a bigger question about like we're the only country I 318 00:14:25,280 --> 00:14:27,960 Speaker 16: know in the world that just constantly lives in these 319 00:14:27,960 --> 00:14:32,040 Speaker 16: government shutdowns and allows people who are protecting us to 320 00:14:32,080 --> 00:14:35,400 Speaker 16: be kind of at the mercy of these political conversations. 321 00:14:35,440 --> 00:14:38,360 Speaker 16: I would be personally in full support of just not 322 00:14:38,640 --> 00:14:41,680 Speaker 16: having this happen three times in a calendar year for 323 00:14:41,760 --> 00:14:45,600 Speaker 16: these folks. So I think there's bigger reforms that we need, 324 00:14:45,640 --> 00:14:47,680 Speaker 16: but at this point, just get or done. We all 325 00:14:47,720 --> 00:14:49,320 Speaker 16: know what we need to do, and just sit in 326 00:14:49,320 --> 00:14:50,880 Speaker 16: a room until you get it done. 327 00:14:51,080 --> 00:14:53,440 Speaker 2: It does seem like dejevu all over again is happening 328 00:14:53,600 --> 00:14:55,680 Speaker 2: again and again and again much sooner than it used to. 329 00:14:56,520 --> 00:14:59,440 Speaker 2: At the risk of causing a rift in this lovely 330 00:14:59,680 --> 00:15:02,320 Speaker 2: bi partisan tableau we have going on, I do want 331 00:15:02,360 --> 00:15:05,120 Speaker 2: to ask both of you some questions about what's going 332 00:15:05,160 --> 00:15:06,920 Speaker 2: on in Iran. Sana Sloka, and I'm starting with you 333 00:15:07,400 --> 00:15:10,320 Speaker 2: four weeks and do you feel like the administration has 334 00:15:10,320 --> 00:15:11,760 Speaker 2: a clear strategy in Iran? 335 00:15:13,120 --> 00:15:15,600 Speaker 16: Well, look, I mean I serve three tours in Iraq 336 00:15:15,640 --> 00:15:19,800 Speaker 16: alongside the military as a CIA officer, and you know, 337 00:15:19,840 --> 00:15:22,360 Speaker 16: I know it is harder to get in to get 338 00:15:22,400 --> 00:15:23,880 Speaker 16: out of a war that it is to get into 339 00:15:23,880 --> 00:15:26,520 Speaker 16: a war. On the Armed Services Committee, so they've been 340 00:15:26,560 --> 00:15:30,200 Speaker 16: briefing us. You know, I think it was hard to 341 00:15:30,360 --> 00:15:32,720 Speaker 16: understand what the clear objectives are. So it's hard to 342 00:15:32,800 --> 00:15:35,800 Speaker 16: understand exactly how we're doing. I have no love lost 343 00:15:35,880 --> 00:15:38,360 Speaker 16: for the Iranian government. I watch them and the Iranian 344 00:15:38,360 --> 00:15:42,000 Speaker 16: back militias kill friends of mine in Iraq. But until 345 00:15:42,040 --> 00:15:44,120 Speaker 16: and unless we can have ships move through the state 346 00:15:44,120 --> 00:15:46,800 Speaker 16: of Hormuz, until and unless you know, the average person 347 00:15:46,800 --> 00:15:50,120 Speaker 16: in Michigan is actually not paying for this war through 348 00:15:50,160 --> 00:15:53,160 Speaker 16: the pump, I think it's hard to say it's resolved. 349 00:15:53,760 --> 00:15:54,560 Speaker 9: And I you know, I. 350 00:15:56,320 --> 00:15:59,800 Speaker 16: Hope that we're figuring out quickly at the White House 351 00:16:00,000 --> 00:16:02,760 Speaker 16: exactly how we're going to bring this to resolution. But 352 00:16:03,320 --> 00:16:05,280 Speaker 16: right now, I think it's too soon to tell whether 353 00:16:05,360 --> 00:16:07,960 Speaker 16: we're we can call ourselves winning, and certainly until the 354 00:16:08,000 --> 00:16:09,080 Speaker 16: straits are open, we're not. 355 00:16:09,600 --> 00:16:11,680 Speaker 2: Senator Young, same question to you, and do you have 356 00:16:11,720 --> 00:16:14,440 Speaker 2: any idea what those two marine expeditionary units and the 357 00:16:14,440 --> 00:16:16,840 Speaker 2: eighty second Airborne are planning to do once they arrive 358 00:16:16,880 --> 00:16:18,880 Speaker 2: in the least Is that clear to you? 359 00:16:18,960 --> 00:16:21,480 Speaker 11: No, I don't have great clarity on that. 360 00:16:21,480 --> 00:16:24,360 Speaker 14: That's an operational matter, and I do believe that Congress 361 00:16:24,400 --> 00:16:28,880 Speaker 14: has an important oversight role to play on such questions. 362 00:16:28,960 --> 00:16:32,440 Speaker 14: I think that's the prerogative the Armed Services Committee and 363 00:16:32,480 --> 00:16:36,440 Speaker 14: the Foreign Relations Committee, and I've indicated very publicly in 364 00:16:36,480 --> 00:16:38,280 Speaker 14: the past that I think we needed to hold more 365 00:16:38,280 --> 00:16:42,400 Speaker 14: hearings where possible, more public hearings before we get into 366 00:16:42,440 --> 00:16:45,960 Speaker 14: major engagements. But that said, I know that President is 367 00:16:46,040 --> 00:16:51,240 Speaker 14: determined to degrade any nuclear weapons development capabilities of the 368 00:16:51,280 --> 00:16:54,920 Speaker 14: Islamic Republic of Iran. I know that he's determined to 369 00:16:54,960 --> 00:16:59,160 Speaker 14: make sure that the Iranian proxies of this largest state 370 00:16:59,200 --> 00:17:00,680 Speaker 14: sponsor of TAOR in the. 371 00:17:00,560 --> 00:17:02,440 Speaker 11: World are degraded as well. 372 00:17:02,760 --> 00:17:05,560 Speaker 14: We're making some good progress on that, and then the 373 00:17:05,560 --> 00:17:10,880 Speaker 14: missile capabilities of this terroristic regime are also being degraded. 374 00:17:10,960 --> 00:17:13,520 Speaker 14: So on all those fronts. We've made some positive progress. 375 00:17:14,280 --> 00:17:18,440 Speaker 14: I think so many of us, the American people, back 376 00:17:18,840 --> 00:17:23,159 Speaker 14: my Hoosier constituents and all across the country, want us 377 00:17:23,200 --> 00:17:27,280 Speaker 14: to bring this to as quick of a close as possible. 378 00:17:26,800 --> 00:17:27,320 Speaker 11: If we can. 379 00:17:27,960 --> 00:17:31,080 Speaker 14: If we can indicate that across those three measures that 380 00:17:31,119 --> 00:17:34,240 Speaker 14: I laid out, we've made some real progress and come 381 00:17:34,320 --> 00:17:38,639 Speaker 14: up with a negotiated diplomatic solution to open up the 382 00:17:38,640 --> 00:17:42,800 Speaker 14: Strait of Hormuz on an ongoing basis, then I think 383 00:17:43,280 --> 00:17:47,520 Speaker 14: the President can rightly declare a victory, and the American 384 00:17:47,560 --> 00:17:50,879 Speaker 14: people can resume their economic activity and ways of life, 385 00:17:50,960 --> 00:17:53,879 Speaker 14: and our men and women in uniform who are performing 386 00:17:53,920 --> 00:17:58,239 Speaker 14: so nobly and heroically can be safe and secure and 387 00:17:58,280 --> 00:17:59,320 Speaker 14: proud of their mission. 388 00:18:00,200 --> 00:18:01,879 Speaker 5: For each of you, just about that two hundred billion 389 00:18:01,920 --> 00:18:04,680 Speaker 5: dollar supplemental that's being floated by it by the Pentagon. 390 00:18:05,640 --> 00:18:07,600 Speaker 5: Is it something you support? What would it take for 391 00:18:07,640 --> 00:18:09,520 Speaker 5: you to support it? I'll start with you, Senator Slockin. 392 00:18:10,760 --> 00:18:11,000 Speaker 11: Yeah. 393 00:18:11,040 --> 00:18:12,960 Speaker 16: I mean, look, we've seen it floated. We haven't seen 394 00:18:12,960 --> 00:18:15,320 Speaker 16: anything in black and white. And something I always commit 395 00:18:15,359 --> 00:18:18,240 Speaker 16: to my constituents in Michigan is I read everything. I'm 396 00:18:18,240 --> 00:18:22,080 Speaker 16: going to look at everything objectively, but I will say, 397 00:18:22,160 --> 00:18:23,920 Speaker 16: you know, at the height of the wars in Iraq, 398 00:18:23,960 --> 00:18:27,160 Speaker 16: in Afghanistan, when we had hundreds of thousands of troop deployed, 399 00:18:27,560 --> 00:18:29,800 Speaker 16: things worn't going well in places like a rock. The 400 00:18:29,800 --> 00:18:32,600 Speaker 16: biggest supplemental we ever approved through this body was one 401 00:18:32,640 --> 00:18:35,440 Speaker 16: hundred million, and the ass here is two hundred million. 402 00:18:35,560 --> 00:18:37,280 Speaker 16: So I'm going to open up the hood and look 403 00:18:37,320 --> 00:18:40,000 Speaker 16: at anything that comes that is that size. And I'm 404 00:18:40,040 --> 00:18:43,080 Speaker 16: skeptical that after getting an extra one hundred and fifty 405 00:18:43,119 --> 00:18:45,920 Speaker 16: billion this past summer, on top of a nearly one 406 00:18:46,000 --> 00:18:49,000 Speaker 16: trillion dollar Pentagon budget that they got just last year, 407 00:18:49,760 --> 00:18:52,080 Speaker 16: I'm skeptical that I'm going to be like, you know, 408 00:18:52,200 --> 00:18:55,720 Speaker 16: just rubber stamping anything like that. So, you know, and 409 00:18:55,760 --> 00:18:58,360 Speaker 16: I think the American people are concerned about spending that 410 00:18:58,480 --> 00:19:02,960 Speaker 16: kind of money. I will always read everything that's my obligation, 411 00:19:03,000 --> 00:19:04,399 Speaker 16: and we haven't seen anything formally. 412 00:19:04,560 --> 00:19:05,160 Speaker 12: Senator Young, how. 413 00:19:05,119 --> 00:19:08,520 Speaker 11: About you, Well, we need to be skeptical. 414 00:19:08,560 --> 00:19:13,520 Speaker 14: That's our jobs to scrutinize individual line items of spending 415 00:19:13,600 --> 00:19:17,240 Speaker 14: requests rather than just giving the green light, especially when 416 00:19:17,520 --> 00:19:20,080 Speaker 14: a check to the tune of two hundred billion dollars 417 00:19:20,160 --> 00:19:23,199 Speaker 14: is requested. But I will say the armaments that we 418 00:19:23,280 --> 00:19:27,040 Speaker 14: have been expending to carry out these operations have been 419 00:19:27,200 --> 00:19:31,520 Speaker 14: incredibly expensive, and as we adapt to this new age 420 00:19:31,560 --> 00:19:34,159 Speaker 14: of warfare and have to invest in other types of 421 00:19:34,240 --> 00:19:40,119 Speaker 14: armaments while replenishing these older school armaments, that can become 422 00:19:40,240 --> 00:19:43,639 Speaker 14: very expensive as we sort of make that transition. So 423 00:19:44,920 --> 00:19:50,280 Speaker 14: I enter this exercise of looking through the requested supplemental 424 00:19:50,359 --> 00:19:56,479 Speaker 14: package objectively, and I want to support carrying out that 425 00:19:56,560 --> 00:19:59,359 Speaker 14: deterrence mission so we don't have to fight in any 426 00:19:59,400 --> 00:20:01,879 Speaker 14: more wars, which is the most expensive thing for the 427 00:20:01,880 --> 00:20:06,880 Speaker 14: American people. I want to make sure we have everything 428 00:20:07,040 --> 00:20:10,160 Speaker 14: possible needed to avoid any future conflict. 429 00:20:10,480 --> 00:20:12,200 Speaker 2: Senators, thank you so much. I understand you have a 430 00:20:12,280 --> 00:20:14,120 Speaker 2: vote and you have to run, but I really appreciate 431 00:20:14,119 --> 00:20:16,520 Speaker 2: you both taking the time and good luck with the legislation. 432 00:20:17,200 --> 00:20:18,239 Speaker 11: Thanks so much, thank you. 433 00:20:18,680 --> 00:20:19,720 Speaker 9: I mean that was nice to have. 434 00:20:19,800 --> 00:20:21,760 Speaker 2: I can't remember the last time two senators. 435 00:20:21,480 --> 00:20:22,760 Speaker 12: In cool blood partisan unity. 436 00:20:22,880 --> 00:20:24,320 Speaker 6: Yeah exactly, you're on the show. 437 00:20:24,359 --> 00:20:26,680 Speaker 5: Appreciate that, Senators Young and Slocke and joining us there 438 00:20:26,680 --> 00:20:28,000 Speaker 5: to talk about the state of play. Yes, with that 439 00:20:28,080 --> 00:20:31,720 Speaker 5: DHS funding, but with the request forthcoming request here for 440 00:20:31,760 --> 00:20:34,800 Speaker 5: two unredrellion dollars in supplemental funding for the war in Iran. 441 00:20:36,840 --> 00:20:39,400 Speaker 2: Stay with us for more on Bloomberg this weekend. Right 442 00:20:39,440 --> 00:20:54,120 Speaker 2: after this. The war in Iran, as we've been talking 443 00:20:54,119 --> 00:20:57,120 Speaker 2: about all morning and really all week, is rattling the markets. 444 00:20:57,160 --> 00:20:58,879 Speaker 2: The S and P five hundred has fallen more than 445 00:20:59,000 --> 00:21:01,240 Speaker 2: seven percent in the last five weeks, and the Nasdaq 446 00:21:01,359 --> 00:21:05,440 Speaker 2: is in correction territory. But news that SpaceX is targeting 447 00:21:05,480 --> 00:21:09,159 Speaker 2: a potential blockbuster of an IPO seventy five billion dollars, 448 00:21:09,160 --> 00:21:12,080 Speaker 2: potentially the largest one ever, could inject a little bit 449 00:21:12,080 --> 00:21:13,800 Speaker 2: of enthusiasm into the market. 450 00:21:13,960 --> 00:21:15,440 Speaker 5: Jota is said to break all of this down. Is 451 00:21:15,480 --> 00:21:17,960 Speaker 5: Bayle Lipschialt, senior reporter here at Bloomberg News. Bailey, great 452 00:21:18,000 --> 00:21:19,960 Speaker 5: to have you with us. We want to talk about 453 00:21:20,000 --> 00:21:22,760 Speaker 5: this IPO. We're waiting for SpaceX to file this perspectives, 454 00:21:22,760 --> 00:21:26,000 Speaker 5: which could happen any day now. Before we get there, though, 455 00:21:26,000 --> 00:21:27,280 Speaker 5: I want to get your perspective on what we saw 456 00:21:27,320 --> 00:21:28,879 Speaker 5: over the course of the last week. This has been 457 00:21:28,920 --> 00:21:31,000 Speaker 5: a market that has been I don't want to say 458 00:21:31,000 --> 00:21:32,960 Speaker 5: complace it as this war is unfolded, but it does 459 00:21:32,960 --> 00:21:35,840 Speaker 5: seem like there were doubts sown among investors here at 460 00:21:35,840 --> 00:21:38,360 Speaker 5: the end of the week and it was a nasty Friday, 461 00:21:38,440 --> 00:21:39,160 Speaker 5: to say the least. 462 00:21:39,920 --> 00:21:42,240 Speaker 17: No, it was a nasty Friday. And David, you know 463 00:21:42,280 --> 00:21:44,480 Speaker 17: this as well as anyone. If you are an investor, 464 00:21:44,560 --> 00:21:46,520 Speaker 17: one thing you hate is uncertainty and the other thing 465 00:21:46,600 --> 00:21:49,760 Speaker 17: is being long stocks or risk assets over a weekend 466 00:21:49,800 --> 00:21:52,679 Speaker 17: where pretty much it's anyone's guest what the next thirty 467 00:21:52,720 --> 00:21:55,120 Speaker 17: six hours will look like. And so when you really 468 00:21:55,160 --> 00:21:56,879 Speaker 17: look at the price action that we saw on Friday 469 00:21:56,920 --> 00:22:00,040 Speaker 17: in particular, it did seem like people either were adding 470 00:22:00,119 --> 00:22:02,639 Speaker 17: up on bearish hedges or really dumping anything that was 471 00:22:02,680 --> 00:22:05,879 Speaker 17: particularly risky, just given we don't know what the weekend 472 00:22:05,920 --> 00:22:08,040 Speaker 17: will bring and when it really when you lay that 473 00:22:08,119 --> 00:22:12,119 Speaker 17: across the entire month that was March, we've had a 474 00:22:12,160 --> 00:22:15,159 Speaker 17: lot of volatility. To your point, you talk to bullish investors, well, 475 00:22:15,200 --> 00:22:17,960 Speaker 17: hey we're only down five six seven percent depending on 476 00:22:18,000 --> 00:22:20,160 Speaker 17: the index that you look at. That's not that bad 477 00:22:20,200 --> 00:22:24,000 Speaker 17: all things considered. In every potential headline that a resolution 478 00:22:24,119 --> 00:22:26,800 Speaker 17: is on the horizon typically brings at least a knee 479 00:22:26,880 --> 00:22:29,320 Speaker 17: jerk reaction. But when I talk to folks on Wall Street, 480 00:22:29,359 --> 00:22:34,240 Speaker 17: there still is this resounding hope that the problems will 481 00:22:34,280 --> 00:22:36,840 Speaker 17: be addressed and the war will be ended sooner than 482 00:22:36,920 --> 00:22:39,479 Speaker 17: later and then business can get back to usual. There 483 00:22:39,520 --> 00:22:42,119 Speaker 17: aren't many people thinking about what happens if this drags 484 00:22:42,160 --> 00:22:43,960 Speaker 17: on for another four or five weeks. 485 00:22:44,400 --> 00:22:47,680 Speaker 2: So with all that in the backdrop, why do this now? 486 00:22:47,760 --> 00:22:49,919 Speaker 2: Why does SpaceX want to do this now? And is 487 00:22:49,920 --> 00:22:52,200 Speaker 2: this a FATA complete? Are they definitely doing it soon 488 00:22:52,400 --> 00:22:54,480 Speaker 2: or might they wait? Given all this volatility. 489 00:22:55,320 --> 00:22:57,440 Speaker 17: So the thing with IPOs or they can be long 490 00:22:57,560 --> 00:23:01,560 Speaker 17: drawn out processes. With SpaceX, every detail is closely watched. 491 00:23:01,560 --> 00:23:04,320 Speaker 17: So what we're waiting for is a confidential filing which 492 00:23:04,359 --> 00:23:08,320 Speaker 17: would formally kick off the potential IPO path. The big 493 00:23:08,359 --> 00:23:10,520 Speaker 17: thing to keep in mind is that SpaceX has kind 494 00:23:10,520 --> 00:23:13,040 Speaker 17: of been vocal, at least through various media reports that 495 00:23:13,080 --> 00:23:15,280 Speaker 17: they want to go public in June, and if you 496 00:23:15,280 --> 00:23:17,320 Speaker 17: think back to two and a half months ago, the 497 00:23:17,359 --> 00:23:20,119 Speaker 17: market backdrop was quite different. So when you look at 498 00:23:20,119 --> 00:23:23,320 Speaker 17: the timeframe for SpaceX to go public, we could be 499 00:23:23,359 --> 00:23:25,719 Speaker 17: in a very different market by the time it actually 500 00:23:25,760 --> 00:23:28,560 Speaker 17: gets kind of on the launch pad and potentially goes 501 00:23:28,600 --> 00:23:32,320 Speaker 17: public versus where we are now where submitting this document 502 00:23:32,320 --> 00:23:34,879 Speaker 17: to the SEC just makes it easier to market the 503 00:23:34,960 --> 00:23:38,680 Speaker 17: deal more formally to investors as opposed to setting any 504 00:23:38,680 --> 00:23:41,200 Speaker 17: time of a shot clock, if you will. 505 00:23:41,320 --> 00:23:43,320 Speaker 2: When I have logistics questions for you, guys have covered 506 00:23:43,320 --> 00:23:45,760 Speaker 2: IPOs before, which I have not on this level. Do 507 00:23:45,840 --> 00:23:48,440 Speaker 2: you have to like constantly is it like a DOJ filing? 508 00:23:48,480 --> 00:23:50,600 Speaker 2: Do you have to constantly refresh the page waiting for 509 00:23:50,680 --> 00:23:52,560 Speaker 2: that to pop up? Or do you know that they've 510 00:23:52,600 --> 00:23:54,320 Speaker 2: posted it and like you know you can go get it. 511 00:23:55,080 --> 00:23:58,080 Speaker 17: So with the Jobs Act, they opened up confidential filing, 512 00:23:58,119 --> 00:24:00,960 Speaker 17: so technically they could submit and know one knows. So 513 00:24:01,040 --> 00:24:03,280 Speaker 17: this could be something that they announced via press release. 514 00:24:03,359 --> 00:24:06,000 Speaker 17: This could be something that US and competitors find from 515 00:24:06,000 --> 00:24:08,679 Speaker 17: our sourcing and report out. Or we were joking with 516 00:24:08,720 --> 00:24:11,119 Speaker 17: a few bankers in theory, we are understanding this is 517 00:24:11,160 --> 00:24:12,919 Speaker 17: not the case. In theory, they could have submitted this 518 00:24:12,960 --> 00:24:15,080 Speaker 17: a month ago and we're able to keep it tight 519 00:24:15,160 --> 00:24:16,560 Speaker 17: lift and no one actually knows. 520 00:24:16,600 --> 00:24:19,800 Speaker 10: Like this is the one aspect of that filing. 521 00:24:19,800 --> 00:24:22,359 Speaker 17: And the big thing is you file the submission, you 522 00:24:22,400 --> 00:24:24,879 Speaker 17: submit the filing confidentially, then you wait a month to 523 00:24:24,920 --> 00:24:27,000 Speaker 17: go back and forth with the SEC from there. And 524 00:24:27,040 --> 00:24:29,880 Speaker 17: that's kind of why this March timeframe was so critical 525 00:24:30,160 --> 00:24:33,160 Speaker 17: for Elon to potentially meet his goal of going public 526 00:24:33,240 --> 00:24:34,960 Speaker 17: by his birthday, which is the end of June. 527 00:24:35,400 --> 00:24:37,280 Speaker 5: I got to give you props for using the IPO 528 00:24:37,359 --> 00:24:39,640 Speaker 5: on the launchpad hun there. 529 00:24:39,520 --> 00:24:40,960 Speaker 12: Which I'm sure was delivered Bailey. 530 00:24:42,400 --> 00:24:44,200 Speaker 5: I want to ask you about what this company is 531 00:24:44,280 --> 00:24:45,679 Speaker 5: kind of picking up off of that. I think there 532 00:24:45,680 --> 00:24:47,440 Speaker 5: are a lot of people who think of SpaceX as 533 00:24:47,480 --> 00:24:50,399 Speaker 5: a company that makes and shoots off rockets into space. 534 00:24:51,000 --> 00:24:53,199 Speaker 5: It has grown to such more than that over the 535 00:24:53,240 --> 00:24:55,840 Speaker 5: last many years. This is a company that now owns Xai, 536 00:24:55,880 --> 00:25:00,000 Speaker 5: which is Elon Musk's AI company, which is hemorrhaging money. 537 00:25:00,080 --> 00:25:02,320 Speaker 5: I still like build up and build new data centers. 538 00:25:02,760 --> 00:25:04,440 Speaker 5: Starlink of course has been bringing money in. 539 00:25:04,520 --> 00:25:05,160 Speaker 12: It owns that too. 540 00:25:05,200 --> 00:25:07,800 Speaker 5: And then what was formerly known as Twitter x is 541 00:25:07,840 --> 00:25:09,640 Speaker 5: now part of XAI, so part of this whole. 542 00:25:09,400 --> 00:25:10,359 Speaker 12: Conglomerate as well. 543 00:25:10,480 --> 00:25:12,960 Speaker 5: How does that complicate the way that investors are looking 544 00:25:13,000 --> 00:25:15,879 Speaker 5: at this company as an investment the fact that it 545 00:25:15,920 --> 00:25:18,240 Speaker 5: really is this very multifaceted conglomerate. 546 00:25:19,040 --> 00:25:21,439 Speaker 17: To your point, when you think back to February, before 547 00:25:21,480 --> 00:25:25,960 Speaker 17: the merger of parent company XAI, which owns x and SpaceX, 548 00:25:26,119 --> 00:25:28,840 Speaker 17: SpaceX was arguably one of the cleanest stories in the 549 00:25:28,840 --> 00:25:32,560 Speaker 17: private market, it was essentially a space monopoly that owns 550 00:25:32,640 --> 00:25:36,399 Speaker 17: launch getting rockets and satellites into space, and to your point, 551 00:25:36,640 --> 00:25:40,680 Speaker 17: owning Starlink, which is the dominant player in potentially getting 552 00:25:41,000 --> 00:25:44,880 Speaker 17: or actually actively getting direct to consumer, direct to cell 553 00:25:44,880 --> 00:25:48,080 Speaker 17: phone and other devices internet connection. 554 00:25:48,480 --> 00:25:50,040 Speaker 10: Now with this merger, when I talk. 555 00:25:50,000 --> 00:25:54,560 Speaker 17: To investors, the pitch still is heavily predicated on the 556 00:25:55,119 --> 00:25:58,480 Speaker 17: kind of old school SpaceX company, with Xai being a 557 00:25:58,480 --> 00:26:00,000 Speaker 17: part of that. The one thing to keep in mind 558 00:26:00,240 --> 00:26:01,919 Speaker 17: is if you talked to many people, and if you 559 00:26:02,000 --> 00:26:04,000 Speaker 17: pulled I would say the smartest people on Wall Street 560 00:26:04,000 --> 00:26:05,680 Speaker 17: and asked, well, what is Tesla? 561 00:26:05,920 --> 00:26:08,320 Speaker 10: Is it a car company? Is it a robot company? 562 00:26:08,440 --> 00:26:11,520 Speaker 17: Is it something that's going to be partnering with SpaceX 563 00:26:11,560 --> 00:26:15,080 Speaker 17: for tarafab. It's just the entire Elon ecosystem that Elon 564 00:26:15,200 --> 00:26:18,320 Speaker 17: premium that these companies are very complex and there are 565 00:26:18,320 --> 00:26:20,919 Speaker 17: a lot of areas to look at that can justify 566 00:26:21,040 --> 00:26:22,000 Speaker 17: higher valuations. 567 00:26:22,119 --> 00:26:24,160 Speaker 5: I'm glad you bring up Tesla, and I think about 568 00:26:24,280 --> 00:26:27,240 Speaker 5: the history of that company and how Elon Musk really 569 00:26:27,320 --> 00:26:30,439 Speaker 5: valued the true believers among those investors who stood with him, 570 00:26:30,520 --> 00:26:32,560 Speaker 5: even as Tesla wasn't able to make as many cars 571 00:26:32,560 --> 00:26:35,400 Speaker 5: as it said it would as deadlines got pushed and 572 00:26:35,520 --> 00:26:39,000 Speaker 5: Elon Musk has a real affection for the retail investor. 573 00:26:39,760 --> 00:26:43,160 Speaker 5: I'm curious how SpaceX is going to benefit or serve 574 00:26:43,200 --> 00:26:45,080 Speaker 5: those investors going forward. Do we have any sense of 575 00:26:45,119 --> 00:26:47,120 Speaker 5: sort of how they will be able to take advantage 576 00:26:47,160 --> 00:26:48,840 Speaker 5: of this IPO when in fact it happens. 577 00:26:49,359 --> 00:26:52,640 Speaker 17: So we've put out reporting that they could allocate about 578 00:26:52,680 --> 00:26:56,040 Speaker 17: thirty to thirty five percent of the IPO for retail investors. 579 00:26:56,440 --> 00:26:58,280 Speaker 17: One thing to keep in mind, if the company does 580 00:26:58,400 --> 00:27:01,080 Speaker 17: raise its targeted seventy five billion dollars, it's about twenty 581 00:27:01,119 --> 00:27:03,680 Speaker 17: two and a half billion dollars for retail, which would 582 00:27:03,720 --> 00:27:07,080 Speaker 17: be the third largest IPO in the history of IPOs. 583 00:27:07,240 --> 00:27:09,680 Speaker 17: So that's an insane amount of money to just comprehend 584 00:27:09,680 --> 00:27:11,920 Speaker 17: that could be allocated to retail. And to your point, 585 00:27:12,240 --> 00:27:15,280 Speaker 17: the boardroom and these bankers are discussing the best way 586 00:27:15,320 --> 00:27:17,919 Speaker 17: to allocate shares to the true believers, people who have 587 00:27:17,960 --> 00:27:20,360 Speaker 17: held Tesla for a long time. Maybe people who own 588 00:27:20,480 --> 00:27:23,280 Speaker 17: Tesla cars will be able to get better access at 589 00:27:23,280 --> 00:27:25,080 Speaker 17: the IPO. At the end of the day, when we 590 00:27:25,119 --> 00:27:28,240 Speaker 17: talk to bankers, finding seventy five billion dollars of demand. 591 00:27:28,800 --> 00:27:31,680 Speaker 17: There's enough capital out there, but being able to execute 592 00:27:31,680 --> 00:27:35,199 Speaker 17: the IPO in a way that delivers for both the 593 00:27:35,200 --> 00:27:37,399 Speaker 17: company and investors is going to be closely watched. 594 00:27:37,600 --> 00:27:39,800 Speaker 2: Bailey, We've got about thirty seconds left. But how much 595 00:27:39,880 --> 00:27:42,560 Speaker 2: of this is trying to get ahead of Anthropic and 596 00:27:42,560 --> 00:27:45,439 Speaker 2: what does this mean for open Ai? Open Ai, excuse me, 597 00:27:45,480 --> 00:27:46,160 Speaker 2: and Anthropic. 598 00:27:46,800 --> 00:27:49,080 Speaker 17: Yeah, it's a bit of a race, and SpaceX clearly 599 00:27:49,160 --> 00:27:51,320 Speaker 17: is set the best timeline or the quickest timeline to 600 00:27:51,600 --> 00:27:54,919 Speaker 17: circle that June target. We reported that Anthropic could go 601 00:27:54,960 --> 00:27:58,119 Speaker 17: as soon as October, and open Ai, from our understanding, 602 00:27:58,200 --> 00:28:00,639 Speaker 17: is kind of neck and neck potentially with trying to 603 00:28:00,640 --> 00:28:03,359 Speaker 17: line up those prospects to go public. So when we 604 00:28:03,400 --> 00:28:05,960 Speaker 17: think about twenty twenty six as a whole, we could 605 00:28:06,000 --> 00:28:08,760 Speaker 17: see all three of these companies, or if the volatility continues, 606 00:28:09,720 --> 00:28:11,560 Speaker 17: we could see one or two drag on into twenty 607 00:28:11,560 --> 00:28:12,080 Speaker 17: twenty seven. 608 00:28:12,240 --> 00:28:15,119 Speaker 2: All right, Bailey, Lifchell's Bloomberg News senior reporter, thank you 609 00:28:15,119 --> 00:28:17,639 Speaker 2: for breaking that all down. And you'll have to what's 610 00:28:17,640 --> 00:28:19,520 Speaker 2: app me when that ip filing happens. 611 00:28:19,600 --> 00:28:20,399 Speaker 10: Yeah, I'm very curious. 612 00:28:20,400 --> 00:28:22,280 Speaker 6: I was talking to our college Ed Ludlow about this. 613 00:28:22,320 --> 00:28:24,359 Speaker 5: Who covers space, the business of space, and this is 614 00:28:24,359 --> 00:28:25,879 Speaker 5: such an interesting moment for that as well. This is 615 00:28:25,880 --> 00:28:28,359 Speaker 5: a really hot part technology generally, so this will be 616 00:28:28,400 --> 00:28:32,119 Speaker 5: a real litmus and sort of investor enthusiasm for space related. 617 00:28:32,040 --> 00:28:33,919 Speaker 9: Companies and for the man in charge of the company. 618 00:28:34,080 --> 00:28:35,639 Speaker 12: There you go for Elon Musk as well. 619 00:28:35,640 --> 00:28:37,240 Speaker 5: We'll see how much of the company ends up owning 620 00:28:37,280 --> 00:28:39,640 Speaker 5: as a result of this IPO. 621 00:28:40,000 --> 00:28:43,080 Speaker 4: Stay with us for more on Bloomberg this weekend. 622 00:28:43,480 --> 00:28:57,240 Speaker 6: Right after this, well, it's time for. 623 00:28:57,200 --> 00:28:59,320 Speaker 5: My favorite part of the show, that is Pointed the 624 00:28:59,320 --> 00:29:01,719 Speaker 5: news quiz for takers right here on Bliberg this weekend. 625 00:29:02,200 --> 00:29:04,320 Speaker 2: We've narrowed down the larger quiz that you can play 626 00:29:04,320 --> 00:29:07,320 Speaker 2: online to three categories, and Lisa is going to test 627 00:29:07,320 --> 00:29:11,360 Speaker 2: our knowledge and I'm sorry who is currently leading. 628 00:29:12,760 --> 00:29:13,720 Speaker 12: It is still anyone's game. 629 00:29:13,800 --> 00:29:15,920 Speaker 2: I'm very nervous about this though. I did overhear them 630 00:29:15,960 --> 00:29:17,440 Speaker 2: saying how hard the quiz was this week. 631 00:29:17,560 --> 00:29:19,800 Speaker 9: So it's gonna be your week. This is going to 632 00:29:19,840 --> 00:29:21,360 Speaker 9: be a good one, guys. Okay, So for. 633 00:29:21,320 --> 00:29:22,640 Speaker 4: Those of you at home who are like, what are 634 00:29:22,720 --> 00:29:23,640 Speaker 4: you talking about? 635 00:29:23,720 --> 00:29:24,160 Speaker 9: Pointed? 636 00:29:24,320 --> 00:29:27,000 Speaker 4: Okay, So here's exactly how it works. In front of 637 00:29:27,080 --> 00:29:30,360 Speaker 4: David and Christina. They each have thirty chips. Okay, so 638 00:29:30,400 --> 00:29:32,720 Speaker 4: they've split it up and they have three categories, and 639 00:29:32,760 --> 00:29:35,959 Speaker 4: they're going to place their bets depending on how they feel, 640 00:29:36,000 --> 00:29:38,120 Speaker 4: how confident they feel about each category. 641 00:29:39,200 --> 00:29:43,320 Speaker 9: Audience audience the sound effect she does. Okay, so we've 642 00:29:43,320 --> 00:29:44,080 Speaker 9: got everyone covered. 643 00:29:44,280 --> 00:29:45,000 Speaker 12: You're not intimidating. 644 00:29:45,200 --> 00:29:46,120 Speaker 9: Are you ready for the category? 645 00:29:46,800 --> 00:29:46,920 Speaker 12: Yes? 646 00:29:47,200 --> 00:29:49,000 Speaker 9: Yes, please ready, David. Okay. 647 00:29:49,040 --> 00:29:54,720 Speaker 4: The first category is ammunition ammunition, the second category is trade, 648 00:29:55,080 --> 00:29:56,800 Speaker 4: and the third category. 649 00:29:56,400 --> 00:29:57,959 Speaker 12: Is hoarding boarding hoarding. 650 00:29:58,720 --> 00:30:00,120 Speaker 9: So it's quite a category. 651 00:30:00,520 --> 00:30:03,160 Speaker 4: So place your bets depending on how confident you feel. 652 00:30:03,320 --> 00:30:04,960 Speaker 4: Where are you going as first ammunition? 653 00:30:05,080 --> 00:30:09,440 Speaker 5: Are you gonna I'm going to go none on ammunition? Okay, 654 00:30:09,640 --> 00:30:12,840 Speaker 5: I'm going to go double on twenty on trade, and 655 00:30:12,920 --> 00:30:16,959 Speaker 5: then according I'm I have no expertise, but I'm interested. 656 00:30:17,480 --> 00:30:19,320 Speaker 2: I'm going to slid across the board because I don't 657 00:30:19,320 --> 00:30:21,520 Speaker 2: feel overly confident in this category. So I'm doing ten, 658 00:30:21,560 --> 00:30:21,959 Speaker 2: ten and ten. 659 00:30:22,160 --> 00:30:24,280 Speaker 9: Excellent. All right, you're ready for your first question. It 660 00:30:24,400 --> 00:30:26,800 Speaker 9: is a very evil I'm excited. 661 00:30:27,280 --> 00:30:29,520 Speaker 4: Do you think this is this is the I only 662 00:30:29,560 --> 00:30:32,959 Speaker 4: got one of them, so all right, okay, here we go. 663 00:30:33,320 --> 00:30:38,760 Speaker 4: Ammunition arms manufacturer ZVS was once a Cold War casualty, 664 00:30:38,800 --> 00:30:44,520 Speaker 4: but is being revitalized in which European nation. Which European 665 00:30:44,840 --> 00:30:48,480 Speaker 4: nation is its starting to get back into it and 666 00:30:48,520 --> 00:30:52,160 Speaker 4: see a surge. It's actually the world's biggest car producer 667 00:30:52,200 --> 00:30:53,640 Speaker 4: per capital I just. 668 00:30:53,560 --> 00:30:56,920 Speaker 12: Got that wrong then that it was very good? 669 00:30:56,960 --> 00:30:59,280 Speaker 9: Okay, all right, change that. 670 00:30:59,440 --> 00:31:01,280 Speaker 4: Yeah, I gave you a little hell all right, now 671 00:31:01,320 --> 00:31:03,360 Speaker 4: I have no idea of it. 672 00:31:03,680 --> 00:31:09,680 Speaker 12: Okay, you ready? Three Germany No. 673 00:31:12,000 --> 00:31:15,720 Speaker 9: Is correct. That's what threw me. 674 00:31:16,360 --> 00:31:19,200 Speaker 2: I had because I read something about the arms manufacturer, 675 00:31:19,240 --> 00:31:20,800 Speaker 2: but I had cars. 676 00:31:21,000 --> 00:31:23,240 Speaker 4: Cars, the world's biggest car producer per capita. 677 00:31:23,640 --> 00:31:29,040 Speaker 9: Slovaki. Yes see, I confuse you there, David, But. 678 00:31:28,960 --> 00:31:30,360 Speaker 2: What is the Slovakian cars? 679 00:31:30,400 --> 00:31:31,200 Speaker 9: I mean it's not a Yugo. 680 00:31:31,280 --> 00:31:32,280 Speaker 2: They don't make those anymore. 681 00:31:32,760 --> 00:31:35,040 Speaker 4: But actually they have been ramping up their ammunition output 682 00:31:35,120 --> 00:31:39,640 Speaker 4: some thirty thousand before NATO started ramping with the Ukraine 683 00:31:39,680 --> 00:31:42,880 Speaker 4: Russia war full screen full invasion in twenty twenty two. 684 00:31:43,000 --> 00:31:44,800 Speaker 2: So you bet yeah, it's one of those places they're 685 00:31:44,800 --> 00:31:46,040 Speaker 2: getting those big shells. 686 00:31:46,040 --> 00:31:48,560 Speaker 9: Correct, Yeah, you bet ten. So you keep your tent, David, 687 00:31:49,920 --> 00:31:53,800 Speaker 9: you bet nothing. You know, all right, I'm going to 688 00:31:53,840 --> 00:31:56,720 Speaker 9: get to trade trade. So that got me nothing. All right, 689 00:31:56,760 --> 00:31:58,200 Speaker 9: here we go play along at home. 690 00:31:58,480 --> 00:32:01,880 Speaker 4: Due to national security concern the FCC is banning imports 691 00:32:01,920 --> 00:32:05,400 Speaker 4: of foreign based, foreign produced models of which product? 692 00:32:05,720 --> 00:32:07,400 Speaker 9: Do you know this one? Because my brothers and nerds 693 00:32:07,520 --> 00:32:10,160 Speaker 9: also talking a lot about Yeah, so. 694 00:32:10,080 --> 00:32:11,680 Speaker 5: You though I didn't read up on this, I just 695 00:32:11,760 --> 00:32:14,920 Speaker 5: know from Christina's talking about it sometimes. 696 00:32:14,960 --> 00:32:18,280 Speaker 4: Sometimes he listens to Christine only occasionally. 697 00:32:19,520 --> 00:32:20,840 Speaker 9: Let's go, okay, flipp it. 698 00:32:20,920 --> 00:32:21,200 Speaker 2: What do you go? 699 00:32:21,400 --> 00:32:21,560 Speaker 12: Right? 700 00:32:21,840 --> 00:32:24,480 Speaker 9: Routers, routers, wireless routers. Correct. 701 00:32:24,480 --> 00:32:25,400 Speaker 6: Do you both get it? 702 00:32:25,480 --> 00:32:27,760 Speaker 9: You both get it. Cyber attacks. 703 00:32:27,800 --> 00:32:29,840 Speaker 4: There's been a lot to talk about them for cyber attacks. 704 00:32:29,920 --> 00:32:31,640 Speaker 9: Yes, all right, so you each have. 705 00:32:31,640 --> 00:32:34,400 Speaker 12: Okay, so before we move on, I mean you've talked 706 00:32:34,400 --> 00:32:35,040 Speaker 12: about it a lot. 707 00:32:35,120 --> 00:32:37,280 Speaker 2: No, No, I mean my brother's concern is there are 708 00:32:37,320 --> 00:32:40,280 Speaker 2: really no domestically manufactured wireless routers at the moment of 709 00:32:40,360 --> 00:32:42,480 Speaker 2: that next generation. They're all made overseas, so it is 710 00:32:42,520 --> 00:32:44,680 Speaker 2: going to be a problem, like if we can't upgrade them, 711 00:32:44,680 --> 00:32:45,160 Speaker 2: we can't get. 712 00:32:45,040 --> 00:32:45,600 Speaker 10: Them from anywhere. 713 00:32:45,720 --> 00:32:46,800 Speaker 9: But that's the issue. 714 00:32:46,920 --> 00:32:49,920 Speaker 4: Well, there is one company, Netgear they might investors might 715 00:32:49,960 --> 00:32:51,680 Speaker 4: you know think because they moved them much of their 716 00:32:51,680 --> 00:32:54,200 Speaker 4: are supply chain outside of China, so that might be one. 717 00:32:54,720 --> 00:32:59,200 Speaker 4: Here we go, the more you know and shooting star 718 00:32:59,360 --> 00:33:04,560 Speaker 4: moving on to hoarding. Okay, which household staple hoarded during 719 00:33:04,600 --> 00:33:08,000 Speaker 4: the nineteen seventy three oil shock? Did Japan just worn 720 00:33:08,080 --> 00:33:09,760 Speaker 4: shoppers not to. 721 00:33:09,760 --> 00:33:15,400 Speaker 9: Buy in bulk? Is it hard staple? I wonder? 722 00:33:15,680 --> 00:33:16,160 Speaker 12: I don't know. 723 00:33:19,160 --> 00:33:20,560 Speaker 9: It's a good thought. 724 00:33:20,560 --> 00:33:23,959 Speaker 4: This music is very it's like soothing. 725 00:33:24,040 --> 00:33:27,200 Speaker 9: That's very soothing. What are you you're writing? You're writing 726 00:33:27,240 --> 00:33:30,040 Speaker 9: too much? Okay, Okay, I wrote flipp What did you write. 727 00:33:29,800 --> 00:33:31,760 Speaker 12: Toilet paper aka bathroom tissue? 728 00:33:32,320 --> 00:33:32,720 Speaker 8: Toilet? 729 00:33:36,680 --> 00:33:37,400 Speaker 12: I think a tie? 730 00:33:37,720 --> 00:33:39,800 Speaker 9: Oh you know what that means? 731 00:33:39,800 --> 00:33:41,200 Speaker 10: If we're question? 732 00:33:41,280 --> 00:33:45,400 Speaker 9: Yes, I was so close. Okay, you know we have 733 00:33:45,480 --> 00:33:46,320 Speaker 9: to take it to the bonus. 734 00:33:46,320 --> 00:33:50,680 Speaker 4: Okay, the bonus is gaming gaming. Okay, it's not look okay, no, no, no, no, 735 00:33:50,680 --> 00:33:54,120 Speaker 4: I think you got this, Christine other games. Fortnight's parent 736 00:33:54,160 --> 00:33:58,640 Speaker 4: company cutting one thousand jobs due to spending concerns. What 737 00:33:58,880 --> 00:34:01,000 Speaker 4: is the name of the company? So, what is the 738 00:34:01,080 --> 00:34:03,320 Speaker 4: name of Fortnite's parent company? 739 00:34:03,440 --> 00:34:04,280 Speaker 9: Do know this? 740 00:34:05,240 --> 00:34:07,880 Speaker 12: It's gonna be a real time What if wait? 741 00:34:07,920 --> 00:34:09,400 Speaker 9: What if you both get right? Then we have a 742 00:34:09,520 --> 00:34:11,800 Speaker 9: tie again? Then do we have another breaker? 743 00:34:11,880 --> 00:34:12,560 Speaker 13: We'll just leave. 744 00:34:12,680 --> 00:34:15,680 Speaker 9: We'll just leave the day. All right, okay, flip it. 745 00:34:15,719 --> 00:34:16,239 Speaker 9: What do you got? 746 00:34:16,320 --> 00:34:18,760 Speaker 6: Epic epic epic games? 747 00:34:18,760 --> 00:34:21,080 Speaker 4: The CEO said, they're spending a lot of money more 748 00:34:21,120 --> 00:34:21,720 Speaker 4: than we're making. 749 00:34:21,800 --> 00:34:22,960 Speaker 12: That's the base. 750 00:34:23,320 --> 00:34:25,799 Speaker 9: We end in a tie. All right, that wasn't as 751 00:34:25,800 --> 00:34:28,000 Speaker 9: bad as I thought. You guys said, well, thank you 752 00:34:28,040 --> 00:34:28,319 Speaker 9: so much. 753 00:34:28,520 --> 00:34:31,120 Speaker 2: Can be friends, Lisa, thank you to our production team 754 00:34:31,160 --> 00:34:31,600 Speaker 2: as well. 755 00:34:33,239 --> 00:34:34,879 Speaker 12: And you can always can find the rest of the game. 756 00:34:35,000 --> 00:34:36,400 Speaker 9: Yes, yes, yes, you two can do it. 757 00:34:36,480 --> 00:34:39,640 Speaker 4: Bloomberg dot Com slash pointed, play at home, at home. 758 00:34:39,680 --> 00:34:41,879 Speaker 9: Hey, they give you some some options you have. 759 00:34:41,840 --> 00:34:43,640 Speaker 2: That's a multiple choice at home, and you don't have 760 00:34:43,719 --> 00:34:45,320 Speaker 2: to you don't have to write them on a whiteboard. 761 00:34:45,480 --> 00:34:48,080 Speaker 9: Always play at home and you'll have just as much 762 00:34:48,080 --> 00:34:48,440 Speaker 9: fun as you. 763 00:34:48,840 --> 00:34:51,480 Speaker 5: Don't get my commentary, but maybe that's for the best. 764 00:34:53,960 --> 00:34:56,880 Speaker 2: Thanks for joining us on today's Bloomberg This Weekend podcast. 765 00:34:57,040 --> 00:34:59,279 Speaker 2: Don't forget to tune in live for the show every 766 00:34:59,280 --> 00:35:01,960 Speaker 2: Saturday and Sunday mornings, starting at seven am Eastern. 767 00:35:02,040 --> 00:35:05,040 Speaker 3: We're on Bloomberg Television Radio and the Bloomberg Business App, 768 00:35:05,160 --> 00:35:09,279 Speaker 3: bringing you unique takes and in depth interviews on news, politics, lifestyle, 769 00:35:09,400 --> 00:35:09,960 Speaker 3: and culture.