WEBVTT - Travel Rebound Hindered by Delta Variant 0:00:01.800 --> 0:00:04.440 This is Bloomberg Business Week. I'm Carole Masser and I'm 0:00:04.480 --> 0:00:07.280 Bloomberg Quick Takes Tim Stanovk. We're here every day bringing 0:00:07.320 --> 0:00:09.840 you the latest news from the world to business and finance, 0:00:09.840 --> 0:00:13.640 plus technology, politics, economics, all partnising the power of Business 0:00:13.680 --> 0:00:17.160 Week reporters and editors, not to mention our journalists and 0:00:17.160 --> 0:00:20.000 analysts in more than one twenty countries. You can download 0:00:20.000 --> 0:00:23.239 Bloomberg Business Week and iTunes, SoundCloud, or Bloomberg dot Com. 0:00:23.400 --> 0:00:25.200 You can also listen to our radio show at two 0:00:25.200 --> 0:00:27.880 pm Eastern Time on Bloomberg Radio or watch us on 0:00:27.920 --> 0:00:31.840 YouTube search Bloomberg Global News. You know, I just said 0:00:31.840 --> 0:00:35.120 to Tim, I'm looking at We've got a bunch of screens, 0:00:35.159 --> 0:00:38.279 TV screens up different networks and just different headlines when 0:00:38.320 --> 0:00:40.960 it comes to this delta variant and the spread, you know, 0:00:41.000 --> 0:00:43.400 whether or not you've got the vaccine, it's very hard 0:00:43.440 --> 0:00:46.680 to make sense of what is the true story it 0:00:47.000 --> 0:00:50.440 is And I'm afraid, like Dr Adlga told us earlier 0:00:50.479 --> 0:00:53.920 this week from John's Hopkins, that there are there's not 0:00:53.960 --> 0:00:56.160 widespread agreement in the medical community with the way that 0:00:56.160 --> 0:00:58.280 the CDC has done and about face, you know, and 0:00:58.320 --> 0:01:00.360 he was a lot more aggressive about like you don't 0:01:00.400 --> 0:01:02.640 need to wear your masks if you're vaccinated. And yet 0:01:02.840 --> 0:01:04.960 a colleague of his, who I also heard on Bloomberg 0:01:04.959 --> 0:01:08.559 this morning, dr Andy Pekash, talked about I'm wearing my mask. 0:01:08.760 --> 0:01:11.200 That just shows where the experts are right now, a 0:01:11.200 --> 0:01:13.280 lot of confusion waiting for the data. Well, we have 0:01:13.319 --> 0:01:15.360 another expert for you, dr Ian las bad Or. He's 0:01:15.360 --> 0:01:17.360 clinical professor of medicine at n y U land On 0:01:17.440 --> 0:01:19.520 Medical Center. He is back with us on the phone 0:01:19.520 --> 0:01:22.240 from Long Island. Uh. Ian, nice to have you back 0:01:22.240 --> 0:01:25.319 with us. It is kind of a confusing time. We 0:01:25.400 --> 0:01:27.920 all felt so safe and secure having gotten our vaccine, 0:01:27.959 --> 0:01:29.880 and now it's we're trying to say, well, wait, I 0:01:29.920 --> 0:01:32.520 have to put my mask on. How do you explain 0:01:32.560 --> 0:01:36.000 it to patients who probably have a million questions for you? 0:01:35.600 --> 0:01:38.160 There are happy for the guys, Thanks for having me 0:01:38.200 --> 0:01:41.679 as usual, Yes, people are. There's definitely a lot of 0:01:41.959 --> 0:01:46.040 turmoil in the air from UH, from patients and and 0:01:46.120 --> 0:01:49.880 just people out there. And part of that it's because 0:01:49.920 --> 0:01:53.760 we are seeing people who have been vaccinated coming down 0:01:54.000 --> 0:01:58.400 with delta. And we do know from Israel, for example, 0:01:58.480 --> 0:02:02.720 that a significant percent of patients who have been vaccinated 0:02:03.200 --> 0:02:07.600 uh twice with the Fiser vaccine have come down with 0:02:08.440 --> 0:02:12.400 the delta infections. So clearly we're seeing that there's this 0:02:12.560 --> 0:02:16.840 breakthrough and that the vaccines also very helpful are not 0:02:18.040 --> 0:02:21.520 And that's really the same story with masks. UM. The 0:02:21.600 --> 0:02:23.720 reason there's a bit of a debate is because there 0:02:23.760 --> 0:02:26.480 are different kinds of masks. There are these surgical masks 0:02:26.480 --> 0:02:29.960 and of course the N nine masks which seal very 0:02:30.000 --> 0:02:33.160 close to the face. But a number of different studies 0:02:33.200 --> 0:02:38.120 do show that masks seem to reduce respiratory droplets. We 0:02:38.160 --> 0:02:41.840 think the way the delta and and all viruses and 0:02:41.919 --> 0:02:47.359 bacteria for that matter, transmit are through respiratory droplets. When 0:02:47.400 --> 0:02:50.040 people call for sneeze or talk hi. There are these 0:02:50.120 --> 0:02:54.040 droplets that aren't caught by some masks, even cloth masks 0:02:54.600 --> 0:02:58.280 UM although the viral particles themselves are very tiny and 0:02:58.639 --> 0:03:01.560 you know, go right through any mask really other than 0:03:01.600 --> 0:03:06.760 an and that's effective. So a lot of these studies 0:03:06.760 --> 0:03:11.360 show masks seems to block about these respiratory droplets. Not 0:03:12.800 --> 0:03:15.080 it does seem to reduce the risk in that range 0:03:15.120 --> 0:03:19.720 of fifty. So they're not perfect, but they're really one 0:03:19.960 --> 0:03:26.119 arm of presntion and treatments strategy. Uh that's really why 0:03:26.160 --> 0:03:30.760 they have been debates. And you know, the virus is accelerating, 0:03:30.800 --> 0:03:35.320 it's really galloping faster than we can vaccinate people. And 0:03:35.360 --> 0:03:37.560 so are you seeing in your hospital? Are you seeing 0:03:37.560 --> 0:03:41.360 at your hospital? No, you know New York we are 0:03:41.400 --> 0:03:46.280 seeing an increase, but really in the Northeast, I think 0:03:46.280 --> 0:03:49.400 we're really very close to her immunity. Uh so, I 0:03:49.440 --> 0:03:52.320 think we're not seeing that same volume. But what I 0:03:52.360 --> 0:03:57.280 am seeing are people who have been vaccinated coming down 0:03:57.560 --> 0:04:01.280 with a delta. A small percent, maybe ten percent, is 0:04:01.640 --> 0:04:04.040 kind of in the range that we're seeing tends to 0:04:04.080 --> 0:04:10.080 be mild up respiratory coughs, sneezing, you know, sore throat um. 0:04:10.080 --> 0:04:13.800 But clearly the vaccines are not They're not. But what 0:04:13.880 --> 0:04:16.039 we do know is they prevent severe illness and they 0:04:16.080 --> 0:04:18.320 prevent death. And the vast majority of people who are 0:04:18.400 --> 0:04:21.920 hospitalized with COVID with the delta variant that CDC has 0:04:21.960 --> 0:04:26.440 said those people are unvaccinated. I do wonder though about 0:04:26.560 --> 0:04:30.080 long COVID dr LUs Vader do we know anything about 0:04:30.160 --> 0:04:32.839 do we have any data about the way that people 0:04:32.880 --> 0:04:35.920 who have been vaccinated do end up getting infected with 0:04:35.960 --> 0:04:39.200 a breakthrough infection, it's perhaps not severe. Do we know 0:04:39.279 --> 0:04:42.000 anything about long COVID and to what extent they could 0:04:42.040 --> 0:04:45.760 suffer from it? Tim Those are all excellent points. So 0:04:45.880 --> 0:04:49.080 one point you know that you made is that the vaccines, 0:04:49.400 --> 0:04:54.240 despite some data about um, you know, potential side effects 0:04:53.720 --> 0:04:57.640 a small number of patients, we don't have really long 0:04:57.760 --> 0:05:02.040 term data, but we certainly know that they are really 0:05:02.040 --> 0:05:05.080 one of the most effective tools we have since we 0:05:05.120 --> 0:05:08.960 don't have great anti viral treatment. The vaccines do seem 0:05:09.000 --> 0:05:12.120 to be very helpful in preventing severe disease. The vast 0:05:12.160 --> 0:05:15.960 majority of patients who are hospitalized have not been vaccinated, 0:05:16.000 --> 0:05:20.000 which is another uh bit of data you know. And 0:05:20.080 --> 0:05:22.560 long COVID is something that we worry about both in 0:05:22.680 --> 0:05:25.200 patients who have had it. It's estimated up to a 0:05:25.279 --> 0:05:29.200 third of people who have had COVID have ongoing symptoms 0:05:29.279 --> 0:05:35.760 chest pain, costs, uh, brain fog, fatigue. So, uh, that's 0:05:35.760 --> 0:05:38.039 a real problem and we don't really know how that's 0:05:38.040 --> 0:05:40.040 going to play out over a longer period of time. 0:05:40.080 --> 0:05:43.200 We also don't have great treatment for long COVID or 0:05:43.480 --> 0:05:45.919 the long blowlers. There's some evidence that people who have 0:05:46.480 --> 0:05:50.400 had or who have long COVID when they're vaccinated, have 0:05:50.600 --> 0:05:54.599 some improvement in their symptoms, which we do see chronic 0:05:54.640 --> 0:05:58.200 infections epstein bar and other infections that really are chronic 0:05:58.320 --> 0:06:01.640 after the patient gets over the you illness, that maybe 0:06:01.760 --> 0:06:04.559 what we're seeing with long COVID. Charlie Pellet is sharing 0:06:04.560 --> 0:06:07.520 with me a story from our own Matthew Boyle here 0:06:07.520 --> 0:06:10.039 on the Bloomberg Walmart, the largest private employer in the USA, 0:06:10.120 --> 0:06:12.680 is requiring its headquarters in regional staff to be vaccinated 0:06:12.720 --> 0:06:16.560 by October four, joining Google and instituting a policy that 0:06:16.600 --> 0:06:18.839 other big companies may seon follow as the delta variant 0:06:18.880 --> 0:06:22.160 continues to spread. This has been something we've been hearing 0:06:22.200 --> 0:06:24.760 debated about whether or not private employers should be forcing 0:06:24.839 --> 0:06:30.000 or or requiring their's teams and employees to get the vaccine. 0:06:30.080 --> 0:06:32.080 And if you don't, you don't have a job. And 0:06:32.120 --> 0:06:34.359 we're increasingly tim saying more that happening. We're seeing it 0:06:34.400 --> 0:06:36.000 not just in the private sector, but we're also seen 0:06:36.000 --> 0:06:40.240 in the public sector as well, with President Biden making 0:06:40.839 --> 0:06:42.760 rules such as those, and then also here in New 0:06:42.839 --> 0:06:44.920 York City with Mayri Di Blasio. Let's get right back 0:06:44.960 --> 0:06:47.200 to Dr Ian LUs Better, clinical Professor of Medicine at 0:06:47.240 --> 0:06:49.960 n y U Langes Medical Center. He joins us each 0:06:49.960 --> 0:06:52.440 and every Friday. Today he's on the phone from Long Island. 0:06:52.520 --> 0:06:54.960 Dr LUs Better, you probably heard Carol and I talking 0:06:55.000 --> 0:06:59.120 about this medication the FDA certified in is called I'm 0:06:59.160 --> 0:07:06.160 gonna let you thank you. We're not we're not doctors. UH. 0:07:06.320 --> 0:07:10.040 This is this is a medicine though that's right now 0:07:10.080 --> 0:07:12.760 controversial because the FDA has put out a special warning 0:07:12.760 --> 0:07:15.800 that you shouldn't use it to prevent or treat COVID nineteen. 0:07:16.040 --> 0:07:18.080 Bring us all up to speed on what's happening from 0:07:18.120 --> 0:07:21.119 the treatment front with this. So there was a recent 0:07:21.240 --> 0:07:24.840 article op ed in the Wall Street Journal UH calling 0:07:24.880 --> 0:07:28.640 attention to ivermicton, which has been around UH for a 0:07:28.720 --> 0:07:32.080 number of years as an anti parasitic drug, certainly used 0:07:32.080 --> 0:07:36.680 in veterinary medicine as well, and it really highlights the 0:07:36.720 --> 0:07:41.239 need for us to hopefully do more than just vaccinate people, 0:07:41.280 --> 0:07:45.000 but have hopefully treatment options. UM. There are a number 0:07:45.040 --> 0:07:48.280 of physicians, critical care physicians that are very enthused about 0:07:48.280 --> 0:07:51.880 this medication and it may have potential. What we're really 0:07:52.000 --> 0:07:57.320 lacking are large studies that are unfortunately usually funded by 0:07:57.360 --> 0:08:00.000 drug companies who stand to make a lot of money 0:08:00.200 --> 0:08:02.600 from these things. And so we have a number of 0:08:02.640 --> 0:08:05.760 smaller studies from around the world. They've been put together 0:08:05.800 --> 0:08:09.040 in a meta analysis, and there's some encouraging data on it. 0:08:09.840 --> 0:08:13.160 What we really need are controlled, randomized, double blind, controlled 0:08:13.200 --> 0:08:17.760 studies so that if this medication or other medications that 0:08:18.920 --> 0:08:22.600 may work in a similar way, Uh, we really need 0:08:22.720 --> 0:08:25.520 data that would convince people and physicians to use it. 0:08:25.840 --> 0:08:28.920 At this point, it's certainly if it is being used, 0:08:28.920 --> 0:08:32.040 it's being used off label. UM. And I think that's 0:08:32.120 --> 0:08:34.840 highlights that there may be other treatments out there that 0:08:34.880 --> 0:08:38.120 we do need to pursue. Uh. We do need more 0:08:38.160 --> 0:08:40.200 studies on this drug and it may turn out to 0:08:40.240 --> 0:08:43.960 be very effective. It is used in other countries, uh, 0:08:44.000 --> 0:08:46.800 and with some encouraging data. But that's that's really all 0:08:46.840 --> 0:08:49.000 I would say on that, and that's something we need 0:08:49.040 --> 0:08:53.080 to be aware of. It also highlights to me that 0:08:53.200 --> 0:08:56.600 we really need a coherent strategy we need when you 0:08:56.640 --> 0:08:59.199 go to other countries, you have to show a vaccination 0:08:59.280 --> 0:09:02.840 record or antibody tighters. You know, we need to have 0:09:02.960 --> 0:09:05.559 a little better control of our borders so that immigrants, 0:09:05.760 --> 0:09:10.080 legal illegal Southern border or travelers to our country have 0:09:10.240 --> 0:09:15.080 some documentation of vaccination or antibodies, or vaccinate them before 0:09:15.120 --> 0:09:18.560 they come in. We need to have our vaccines approved 0:09:18.559 --> 0:09:21.840 by the FDA. They're still under emergency use, and I'm 0:09:21.880 --> 0:09:24.880 sure there's some hesitancy that people have because they're not 0:09:25.000 --> 0:09:28.360 FDA approved. The FDA needs to step on that. I've 0:09:28.360 --> 0:09:31.240 actually heard people say that it's emergency use authorization. When 0:09:31.240 --> 0:09:36.000 I get full approval, I'll get the vaccine exactly exactly. 0:09:36.040 --> 0:09:38.679 I think we need to make masks available. And if 0:09:38.679 --> 0:09:40.840 we really think masks are helpful, and we get just 0:09:40.920 --> 0:09:44.000 one over the statistics that they can be helpful, let's 0:09:44.000 --> 0:09:47.520 give people the ninet, you know, better quality masks if 0:09:47.520 --> 0:09:51.840 we're in areas perhaps that have higher outbreaks. And we 0:09:51.920 --> 0:09:56.600 also need better treatments, not just monoclonal antibodies which are 0:09:56.800 --> 0:10:00.120 limited in number, for drugs like hypermectin, which may or 0:10:00.200 --> 0:10:02.720 may not be effective. We need to look into that 0:10:02.840 --> 0:10:04.640 quick question. I think part of the problem with this 0:10:04.679 --> 0:10:08.120 whole process, to be fair, is that we hear one thing, 0:10:08.200 --> 0:10:10.160 and then maybe a day later, or a week later, 0:10:10.280 --> 0:10:13.559 or two weeks later, we hear something that contradicts it. 0:10:13.920 --> 0:10:16.120 And I think the news that came out that I 0:10:16.120 --> 0:10:19.120 think the CDC publishing and I think they put the 0:10:19.160 --> 0:10:22.000 data or are putting the data out today that the 0:10:22.120 --> 0:10:24.800 concerns are that the delta variant appears to spread as 0:10:24.800 --> 0:10:28.480 easily as chicken pox and cause more severe infection. I 0:10:28.520 --> 0:10:31.560 think the narrative around it has been that it's not 0:10:31.960 --> 0:10:34.960 more severe. So is this a reminder that there's still 0:10:34.960 --> 0:10:37.640 things we don't know? Dr les Vader and so that's 0:10:37.679 --> 0:10:39.920 maybe explained some of the nervousness that's out there and 0:10:39.920 --> 0:10:43.960 just got about thirty seconds. Yeah, Look, there's no question 0:10:44.040 --> 0:10:47.400 this is evolving. The virus is evolving. The good news 0:10:47.679 --> 0:10:51.120 is that the majority of older Americans are vaccinated. That 0:10:51.200 --> 0:10:55.080 should provide a lot of protection. We're talking of people 0:10:55.120 --> 0:10:58.920 over sixty have been vaccinated. It's all good news, um. 0:10:59.000 --> 0:11:02.040 And I think that the Delta virus certainly is far 0:11:02.120 --> 0:11:05.840 more infectious, but we are not seeing that it's more deadly. 0:11:05.880 --> 0:11:08.679 It's not killing more people. The vast majority of people 0:11:08.679 --> 0:11:11.360 and young people who get this really have a bad cold. 0:11:11.800 --> 0:11:14.000 So I think we need to sort of calm down 0:11:14.040 --> 0:11:17.240 about everything, and I think we will come out in 0:11:17.320 --> 0:11:19.960 the end very well, but there's still more we could 0:11:19.960 --> 0:11:22.520 really do to to get a handle on this, and 0:11:22.840 --> 0:11:25.960 it's disappointing that we're not being more aggressive in all 0:11:26.000 --> 0:11:29.240 of these areas. Dr ian A. LUs Better, Clinical professor 0:11:29.240 --> 0:11:31.360 of Medicine at n y U Langes Medical Center. He 0:11:31.440 --> 0:11:33.560 joins us on the phone from Violand each and every Friday. 0:11:33.640 --> 0:11:37.080 Dr LUs Better, thank you. This is Bloomberg Business Week 0:11:37.280 --> 0:11:41.200 with Carol Masser and Bloomberg Quick Takes Tim Stinovic on 0:11:41.400 --> 0:11:44.640 Bloomberg Radio. Well, the new issue of Bloomberg business Week magazine. 0:11:44.679 --> 0:11:47.439 It is out. It's online at Bloomberg dot com. Slash 0:11:47.440 --> 0:11:50.280 business Week also on the Bloomberg terminal to cover Move 0:11:50.360 --> 0:11:53.319 Fast and Obey the Party China's tech crack crackdown in 0:11:53.360 --> 0:11:55.960 the making of a new model. Let's get into the 0:11:56.000 --> 0:11:58.200 issue at Bloomberg Business Week at at Ordell Webber on 0:11:58.240 --> 0:12:01.360 the Access line in Brooklyn. What a great cover story, 0:12:01.480 --> 0:12:04.520 so timely, there was more news, you know, to titel 0:12:05.000 --> 0:12:09.960 about China increasingly the oversight of some of its companies. Yeah, 0:12:09.960 --> 0:12:12.240 and I said it um when we spoke about it 0:12:12.240 --> 0:12:14.280 earlier in the week, But I think increasingly this is 0:12:14.320 --> 0:12:17.200 like one of the most important business stories of the year, 0:12:17.840 --> 0:12:20.240 and we still don't really have a sense of like 0:12:20.360 --> 0:12:24.040 where where the football, where the goal post is going 0:12:24.080 --> 0:12:25.960 to end? Uth on this right and I think that's 0:12:26.000 --> 0:12:30.160 the question on investor's mind, is that we've seen basically 0:12:30.200 --> 0:12:33.240 the upending of the old model and the symblance of 0:12:33.240 --> 0:12:36.080 a new one, but we still don't quite know what 0:12:36.160 --> 0:12:38.840 that's gonna totally look like yet. But there is no 0:12:38.880 --> 0:12:43.240 doubt about it that China wants a different version of 0:12:43.240 --> 0:12:47.080 of of of capitalism basically, you know, obviously this is 0:12:47.280 --> 0:12:49.480 that's a fraught word when we're talking about a communist 0:12:49.520 --> 0:12:52.400 country here, but like forever, they have been willing to 0:12:52.520 --> 0:12:54.800 let the West kind of, you know, kind of run 0:12:54.840 --> 0:12:57.000 the show. And now it seems like there's gonna be 0:12:57.559 --> 0:13:00.320 a perimeter that the Chinese government isn't gonna let their 0:13:00.360 --> 0:13:04.800 own their own businesses exceed Joel. As Carol mentioned, this 0:13:04.880 --> 0:13:07.880 is probably the timeliest story you could have on the 0:13:07.920 --> 0:13:10.400 cover right now, and I'm you read through it and 0:13:10.440 --> 0:13:12.079 you realize though that it it took a lot more 0:13:12.120 --> 0:13:15.079 than just a few days to actually for the for 0:13:15.160 --> 0:13:18.200 this to come together. Talk about the timing of this, 0:13:18.720 --> 0:13:20.600 how you decided on this to be the cover story, 0:13:20.640 --> 0:13:22.440 and and and kind of like how long you guys 0:13:22.440 --> 0:13:24.600 were thinking about a story like this, given that it 0:13:24.600 --> 0:13:27.480 seems like this is the perfect story for the week. Well, 0:13:27.559 --> 0:13:30.119 look like this theme has been one that's been percolating 0:13:30.120 --> 0:13:32.880 for a while. And I mean it all originated back 0:13:33.200 --> 0:13:36.079 um last year actually with with Jack mor and his 0:13:36.240 --> 0:13:40.960 comments basically as um as uh as there was about 0:13:41.000 --> 0:13:43.840 to be an I P O right, and like as 0:13:43.920 --> 0:13:47.440 that aunt group I PO happened and then um Chinese 0:13:47.520 --> 0:13:52.640 regulators basically intervened and and you know ended up um scuttling, 0:13:52.800 --> 0:13:55.840 and we at that moment we knew that something big 0:13:55.880 --> 0:14:00.280 had happened. And this effectively are or were still in 0:14:00.320 --> 0:14:04.120 the reverberations of that end because of the d d 0:14:04.679 --> 0:14:09.400 Um story and then the education story, like all of 0:14:09.400 --> 0:14:12.160 these things have been thematically linked. So when the Jack 0:14:12.240 --> 0:14:14.800 mothing happened, we obviously jumped all over it as a 0:14:14.840 --> 0:14:18.120 news organization because that was really significant. But then we 0:14:18.200 --> 0:14:20.600 kept thinking about it and talking about it internally, and 0:14:20.640 --> 0:14:22.600 so this was one of those ones that you know, 0:14:22.680 --> 0:14:25.120 we've been working on it for for weeks really, and 0:14:25.120 --> 0:14:27.000 and then you kind of just get lucky every once 0:14:27.080 --> 0:14:30.360 in a while where you're reality catches up to you, 0:14:30.680 --> 0:14:34.120 to your curiosity really and we were able to basically, 0:14:34.240 --> 0:14:38.120 you know, do do some modest updates right at the 0:14:38.120 --> 0:14:41.720 finish line. So we we were because we work with 0:14:41.760 --> 0:14:43.800 great colleagues around the world, we were really able to 0:14:43.840 --> 0:14:45.640 think ahead on this one. All right, there's something in 0:14:45.640 --> 0:14:49.160 Pursuits which is alcohol infused ice cream, which I feel like, 0:14:49.280 --> 0:14:51.560 after you read the story about the Amazon rainforest, you 0:14:51.640 --> 0:14:54.600 need to go and have an ice cream cocktail because 0:14:54.640 --> 0:14:57.920 it is really sobering. Yeah, although that's not gonna that's 0:14:57.960 --> 0:15:00.400 not gonna solve the Amazon problem, but it at least 0:15:00.400 --> 0:15:03.200 maybe take your mind off of it for a little while. Um, yeah, 0:15:03.240 --> 0:15:05.920 it's a fun one. We you know, the art team 0:15:05.960 --> 0:15:08.160 does great art and they showed me this photo a 0:15:08.200 --> 0:15:11.320 couple uh weeks ago, and I said, you know, that 0:15:11.480 --> 0:15:13.600 is just the most glorious photo that I could imagine 0:15:13.600 --> 0:15:15.440 for summer. Let's just make sure that we give it 0:15:15.760 --> 0:15:17.320 as much real estate as we can give it. So 0:15:17.320 --> 0:15:19.400 we kind of held it for a second and ends 0:15:19.440 --> 0:15:21.520 up being like the most perfect summer weekend to be 0:15:21.560 --> 0:15:25.040 thinking about booze infused ice cream and sort of some 0:15:25.080 --> 0:15:26.880 of the creations that you can go with it. And 0:15:27.280 --> 0:15:28.760 what I loved was like here in New York, you 0:15:28.760 --> 0:15:31.400 couldn't have done this, um that long ago. This is 0:15:31.440 --> 0:15:34.840 a new phenomenon that is just now gained the good graces, 0:15:34.920 --> 0:15:37.800 provided that you're of legal consumption age, of course. Exactly. 0:15:37.800 --> 0:15:39.920 All right, So talk about the Amazon rainforce story though, 0:15:39.960 --> 0:15:43.440 I mean that is it's heavy and you know, we 0:15:43.440 --> 0:15:46.400 we we talked about it a little bit yesterday. To 0:15:46.480 --> 0:15:49.280 me is um, it was just a slap across the 0:15:49.320 --> 0:15:52.440 face because you know, I think inherently that the four 0:15:52.480 --> 0:15:55.760 stations happening, that's that's a bad thing. It's a bad 0:15:55.760 --> 0:15:59.280 with the capital b um what you what I didn't 0:15:59.280 --> 0:16:03.200 appreciate how the policies in Brazil are basically baked in 0:16:03.560 --> 0:16:07.520 by the government and there it's getting way worse and 0:16:07.520 --> 0:16:12.240 we're just seeing absolute devastation. And when you think about 0:16:12.240 --> 0:16:14.480 this tipping point that we talk about the in the 0:16:14.680 --> 0:16:18.440 article where that Amazon is about to become Savannah and 0:16:18.440 --> 0:16:21.800 that it will contribute to global warming rather than what 0:16:21.880 --> 0:16:24.160 you just inherently think is that it you know, goes 0:16:24.200 --> 0:16:26.360 the other way, that it's taking carbon out of the environment. 0:16:26.680 --> 0:16:30.400 The fact that it could become a contributing element everything 0:16:30.400 --> 0:16:32.560 we know about climate change. You just sort of sit 0:16:32.600 --> 0:16:34.160 down and I think kind of have to put your 0:16:34.160 --> 0:16:36.120 head in your hands when you kind of realize that, 0:16:36.160 --> 0:16:39.280 you know, we're playing with games that are like wildly 0:16:39.320 --> 0:16:42.720 beyond our imaginations and things are starting to happen on 0:16:42.720 --> 0:16:46.440 on levels that you know, makes some of these reverberations 0:16:46.480 --> 0:16:48.960 just feel like they could get much worse. Yet I'm 0:16:49.000 --> 0:16:51.040 just a reminder that we're all connected, even if for 0:16:51.120 --> 0:16:53.240 thousands of miles away. The role that the Amazon has 0:16:53.280 --> 0:16:56.400 traditionally played has been one that really is as as 0:16:56.440 --> 0:17:00.280 we know the lungs of the world. Uh Joel Robin 0:17:00.320 --> 0:17:05.240 Hood I started trading yesterday. UH shares higher today, although 0:17:05.240 --> 0:17:07.480 it had a real lack lester day. Yesterday, shares higher 0:17:07.520 --> 0:17:11.040 by just about three three right now trading at thirty 0:17:11.080 --> 0:17:15.359 six and and change. Um Annie Moss has a story 0:17:15.359 --> 0:17:17.000 and here about the I p O bring of the 0:17:17.040 --> 0:17:19.800 broker that would the masses full circle. Talks about the 0:17:19.800 --> 0:17:22.480 incredible growth that Robin Hood saw, especially over the last 0:17:22.520 --> 0:17:27.600 eighteen months. So we um, you know, knew that uh 0:17:28.119 --> 0:17:30.359 Robin Hood was gonna I p O this weekend. I 0:17:30.480 --> 0:17:32.359 just wanted to kind of think ahead about how do 0:17:32.400 --> 0:17:34.760 we think back about what what robin Hood has changed. 0:17:34.800 --> 0:17:37.080 And that's really what any did in the story. I 0:17:37.160 --> 0:17:40.600 think it was a really good story in that you 0:17:40.680 --> 0:17:43.560 kind of forget sometimes that what robin Hood has accomplished 0:17:43.600 --> 0:17:46.840 here over the past decade is pretty remarkable. You know. 0:17:46.880 --> 0:17:49.200 One of the biggest changes is just everything got free. 0:17:49.400 --> 0:17:51.440 And when they made it free, it forced the whole 0:17:51.480 --> 0:17:54.880 ecosystem two more or less match there that that that 0:17:54.960 --> 0:17:58.359 cost and you know that that cost has been passed 0:17:58.359 --> 0:18:01.280 on to investors in other ways, um and then the 0:18:01.320 --> 0:18:03.199 other you know. One of the other things that I 0:18:03.200 --> 0:18:05.640 thought was really interesting was this idea of fractional ownership 0:18:05.720 --> 0:18:07.840 where you don't have to go out and buy a 0:18:07.880 --> 0:18:10.199 share of anything for that whole dollar amount. If you 0:18:10.280 --> 0:18:13.040 only have a dollar, you can throw that dollar at 0:18:13.040 --> 0:18:16.240 an investment, and those are you know, you can't underestimate 0:18:16.280 --> 0:18:20.160 how big of an influence that those ideas that came 0:18:20.200 --> 0:18:23.160 from Silicon Valley more than than Wall Street probably have 0:18:23.160 --> 0:18:26.160 have ended up having, i think, on the whole brokerage 0:18:26.200 --> 0:18:29.680 model and and has contributed to things like the memestock 0:18:29.760 --> 0:18:32.280 fevers that we've seen this year. It's a game changer. Hey, 0:18:32.280 --> 0:18:34.200 one last story. We just want to highlight the magazine 0:18:34.200 --> 0:18:37.760 Starbucks the new talent factory powering Corporate America. Who knew? 0:18:37.840 --> 0:18:40.520 Just got about thirty forty seconds here. Yeah, So we 0:18:40.560 --> 0:18:42.959 have a great little collection of talent based stories in 0:18:42.960 --> 0:18:45.320 this because one of the things that in general that 0:18:45.400 --> 0:18:49.720 we're seeing this race for talent, and we wanted to 0:18:49.760 --> 0:18:51.440 kind of dive into that. And there's a great story 0:18:51.440 --> 0:18:54.439 about ge hiring externally. They've not long been known as 0:18:54.440 --> 0:18:57.840 a talent factory. The Starbrecks one I thought was really amazing. 0:18:58.280 --> 0:19:01.560 It turns out that Corporate America news all stars come 0:19:01.600 --> 0:19:05.840 from Starbucks and basically raids Starbucks, and Starbucks is okay 0:19:05.840 --> 0:19:07.840 with that because those people go on and do other 0:19:07.880 --> 0:19:09.480 things and then kind of end up coming back to 0:19:09.520 --> 0:19:12.439 Starbucks eventually. It's like, it's amazing. And also I got 0:19:12.560 --> 0:19:14.760 highly recommend I know you pointed this out to us 0:19:15.000 --> 0:19:17.600 Joel as well, after you've done a spot with us. 0:19:17.600 --> 0:19:20.040 The remarks what happens after peak Everything by our Gina 0:19:20.080 --> 0:19:22.439 Martin Adams. We've been talking so much about peak growth. 0:19:22.800 --> 0:19:25.640 So it's a great issue, a great summer read. Check 0:19:25.680 --> 0:19:28.480 it out on newsstands online at the Bloomberg and you 0:19:28.520 --> 0:19:31.280 can also find it at Bloomberg dot com slash business Week. Alright, 0:19:31.280 --> 0:19:33.199 til Weber, thank you so much of a great weekend. 0:19:38.040 --> 0:19:42.080 This is Bloomberg Business Week with Carol Masser and Bloomberg 0:19:42.160 --> 0:19:46.520 Quick Takes Tim Stinovic on Bloomberg Radio. So, top story 0:19:46.520 --> 0:19:49.320 this weekend on this Friday, the impact of rising COVID cases. Again, 0:19:49.400 --> 0:19:52.520 Charlie just mentioned that headline more than thousand vaccine breakthrough 0:19:52.560 --> 0:19:54.960 cases identified in US. We've got a hold right through 0:19:55.040 --> 0:19:58.040 on the Bloomberg Buyer Drew Armstrong and team, so check 0:19:58.119 --> 0:20:01.040 that out. Uh. There's also story on the Bloomberg Today 0:20:01.080 --> 0:20:03.600 Tim talking about the travel industry and how the travel 0:20:03.600 --> 0:20:07.159 rebound is hitting an air pocket as the delta variant spread. 0:20:07.200 --> 0:20:11.439 So Asia faltering, US growth stalling, Europeans though seeing a 0:20:11.560 --> 0:20:14.200 comeback in terms of the travel industry that seems to 0:20:14.240 --> 0:20:17.320 be taking hold of it. Well, somebody who has his 0:20:17.400 --> 0:20:19.720 hand on the pulse of the travel industry is actual. 0:20:19.760 --> 0:20:22.800 He for CEO of Tree Vago joining us now on 0:20:22.840 --> 0:20:25.520 the phone from Germany. Actual. Great to have you back 0:20:25.600 --> 0:20:28.720 with us. How are you I'm well, I'm well. How 0:20:28.720 --> 0:20:31.680 are Yeah, We're good. We're good. We're watching the rise 0:20:31.720 --> 0:20:35.800 of delta good. We're like freaking out trying to understand 0:20:36.200 --> 0:20:38.240 what the delta variant because it does feel like we're 0:20:38.240 --> 0:20:42.080 getting conflicting tends too nice, I'll revise my statement, we're 0:20:42.080 --> 0:20:46.280 freaking out, Axel, How do you make sense of wear masks, 0:20:46.320 --> 0:20:48.639 get a vaccine, get a vaccine, don't wear masks. Like 0:20:49.320 --> 0:20:51.520 you run a company where you have to be making decisions. 0:20:51.520 --> 0:20:55.480 How do you see it? So? UM, it's a good 0:20:55.560 --> 0:20:58.160 question and it's quite complicated, but what we are seeing 0:20:58.240 --> 0:21:02.119 right now in Europe, basically, I would say two things UM. 0:21:02.280 --> 0:21:07.120 One is that UM having a high level of vaccinated 0:21:07.160 --> 0:21:12.520 people helps UM significantly to to avoid severe cases, which 0:21:12.880 --> 0:21:18.920 is the key objective UM. And the second thing UM 0:21:18.960 --> 0:21:21.480 that we are seeing is that the delta variant is 0:21:21.600 --> 0:21:25.200 much more contagious. And so even at this this point 0:21:25.240 --> 0:21:27.720 in the year where last year infections were very low, 0:21:27.800 --> 0:21:31.359