WEBVTT - Meta Faces Landmark Trial; Peptides for Pets 0:00:00.080 --> 0:00:10.160 Bloomberg Audio Studios, Podcasts, Radio News. Welcome to the Bloomberg 0:00:10.240 --> 0:00:15.920 This Weekend Podcast with David Gura, Christina Raffini, and Elisa Matteo. 0:00:17.680 --> 0:00:20.560 Thanks for joining us for today's selection of conversations from 0:00:20.600 --> 0:00:20.959 the show. 0:00:21.200 --> 0:00:23.479 You can listen to our favorite discussions right here on 0:00:23.520 --> 0:00:25.800 the podcast, but also make sure to join us live 0:00:25.960 --> 0:00:28.960 every Saturday and Sunday morning starting at seven am Easter. 0:00:29.160 --> 0:00:32.760 We're on Bloomberg Television, Radio, and the Bloomberg Business App, 0:00:33.040 --> 0:00:37.600 bringing you unique takes and in depth interviews on news, politics, 0:00:37.680 --> 0:00:39.080 lifestyle and culture. 0:00:40.440 --> 0:00:44.639 Meta platforms faces what's being called its Big Tobacco Moment. More, 0:00:44.680 --> 0:00:47.280 the two dozen states are suing the social media giant, 0:00:47.320 --> 0:00:51.920 accusing designers of creating an addictive app that's harming its 0:00:52.000 --> 0:00:53.199 youngest users. 0:00:53.240 --> 0:00:56.279 Any of us with kids really understand this one. Four 0:00:56.320 --> 0:00:59.880 states leading this first case, including California, where this trial 0:01:00.000 --> 0:01:01.800 we will get underway, and we join right now by 0:01:01.840 --> 0:01:04.639 one of the forces behind the suit, California's Attorney General, 0:01:05.040 --> 0:01:07.280 Rob Bonta. It's great to have you back, sir, on 0:01:07.560 --> 0:01:11.360 Bloomberg TV and Radio. This is a pretty tough case, 0:01:11.400 --> 0:01:15.960 and you're accusing Meta of using technology to do harm. 0:01:16.280 --> 0:01:18.520 Does this have to do with the algorithm that is 0:01:18.560 --> 0:01:22.399 the basis of Facebook and Instagram or is it more 0:01:22.480 --> 0:01:23.119 nuanced than. 0:01:23.080 --> 0:01:26.959 Them, Well, it has to do with the design of 0:01:27.000 --> 0:01:30.240 their products, both Facebook and Instagram. They designed their product 0:01:30.240 --> 0:01:32.880 to be dangerous. They knew that it was dangerous and 0:01:32.920 --> 0:01:35.240 they lied to the public. And the design includes the 0:01:35.440 --> 0:01:41.080 algorithmic feed, It includes beeps and alerts, likes, infinite scroll, 0:01:41.440 --> 0:01:45.600 auto play, ephemeral content like Instagram stories. Sort of that 0:01:46.040 --> 0:01:50.400 constellation of different features that they designed created the harm. 0:01:50.520 --> 0:01:53.600 They did internal research where they knew it hurt the 0:01:53.640 --> 0:01:58.480 mental health of kids. It created anxiety, depression, body image issues, 0:01:58.560 --> 0:02:03.520 addictive tend to sies, learning loss, and they doubled down 0:02:03.720 --> 0:02:06.600 and chose profit over the safety of children. And one 0:02:06.600 --> 0:02:09.160 of the things that I do as the California Triney 0:02:09.160 --> 0:02:11.639 General is I protect vulnerable populations, including our kids. 0:02:11.680 --> 0:02:13.520 I'm a dad of three. 0:02:13.840 --> 0:02:17.480 Any parent, teacher, or guardian knows the detrimental impact of 0:02:17.919 --> 0:02:20.840 these products. And this is the Tobacco moment for Meta, 0:02:20.919 --> 0:02:23.160 and this is time for them to be held accountable. 0:02:23.200 --> 0:02:24.639 So we have picked a. 0:02:24.600 --> 0:02:27.720 Jury and we have opening statements and begin our trial 0:02:27.840 --> 0:02:30.200 on Tuesday. I will be there personally, and we look 0:02:30.240 --> 0:02:33.040 forward to making our case, bringing this case to trial 0:02:33.160 --> 0:02:34.360 and holding Meta accountable. 0:02:34.520 --> 0:02:37.280 You know, this isn't the first case, it's not going 0:02:37.320 --> 0:02:40.320 to be probably the last case against Meta or social 0:02:40.400 --> 0:02:43.160 media at large, but it does seem to be the 0:02:43.200 --> 0:02:44.079 biggest case. 0:02:43.880 --> 0:02:44.920 So far to date. 0:02:45.280 --> 0:02:48.200 Why is this one so important? And is it about 0:02:48.760 --> 0:02:53.560 restitution for those families and individuals who you would argue 0:02:53.600 --> 0:02:56.640 in the other states have been certainly harmed here, or 0:02:56.760 --> 0:02:59.840 is it about really changing the way social media companies 0:02:59.840 --> 0:03:02.880 Meta in particular do business. 0:03:04.160 --> 0:03:04.680 It's both. 0:03:05.160 --> 0:03:11.040 It's about injunctive relief, including changing their conduct, ending the 0:03:11.080 --> 0:03:17.480 features that create the excessive, the addictive, the compulsive use 0:03:17.560 --> 0:03:20.359 by kids, that the features that are designed to addict 0:03:20.400 --> 0:03:24.040 kids so that they maximize. 0:03:23.320 --> 0:03:25.079 Their use, the duration on. 0:03:25.080 --> 0:03:29.440 The platform, the frequency on the platform. So it's certainly 0:03:29.480 --> 0:03:35.800 about changing these addictive, harmful features that Meta do about 0:03:35.800 --> 0:03:40.320 and light about. It's also about an appropriate amount of 0:03:40.360 --> 0:03:44.320 what we call penalties. It's not actually technically damaged. Penalties. 0:03:44.360 --> 0:03:48.000 Disgorgement and restitution are the types of relief we can get. 0:03:48.000 --> 0:03:51.120 We are seeking significant amounts in this case, and this 0:03:51.200 --> 0:03:54.120 is a huge case. It's a multi state case, It's 0:03:54.160 --> 0:03:57.040 what we call a bell Weather case when twenty nine 0:03:57.040 --> 0:04:00.400 states have brought case claims and for state have been 0:04:00.480 --> 0:04:06.080 chosen to bring their case to trial. And so California, Colorado, Kentucky, 0:04:06.320 --> 0:04:08.720 and New Jersey will be bringing our case on Tuesday. 0:04:08.800 --> 0:04:14.000 And across the country there are north of forty states, bipartisan, 0:04:14.080 --> 0:04:18.080 Republican and Democratic states who have brought cases against Meta 0:04:18.080 --> 0:04:19.960 in both state court and in federal court. 0:04:20.040 --> 0:04:22.400 So this is a big moment. This is a big case. 0:04:22.920 --> 0:04:27.920 We're seeking both changes in conduct and appropriate financial compensation. 0:04:28.040 --> 0:04:31.600 I was struck by your first answer, mister Attorney General, 0:04:31.960 --> 0:04:38.599 as you imply that this is not only wrongdoing, but motivated, premeditated, 0:04:38.880 --> 0:04:41.960 This was on purpose. Why would Facebook? Why would Mark 0:04:42.040 --> 0:04:46.840 Zuckerberg aim to harm his clients, his customers. 0:04:48.240 --> 0:04:50.719 Well, you could ask the same thing in the tobacco industry. 0:04:51.000 --> 0:04:53.600 You could ask the same thing of the opioid industry 0:04:53.600 --> 0:04:55.919 and the Sackler family produced. 0:04:55.640 --> 0:04:57.320 We believe that he is on the same level. 0:04:58.760 --> 0:05:02.080 Oh yeah, this is the the same level stuff, knowing 0:05:02.120 --> 0:05:07.279 about the harms, having internal discussions and memos including you know, 0:05:07.279 --> 0:05:08.320 you mentioned mister Zuckerberg. 0:05:08.320 --> 0:05:10.400 So let me tell you about mister Zuckerberg. There was 0:05:11.000 --> 0:05:16.760 a feature called it was a filter, a plastic. 0:05:16.360 --> 0:05:20.440 Surgery filter, which changes your images using a plastic surgery 0:05:20.520 --> 0:05:23.960 type of technology that shows what you look like after 0:05:24.200 --> 0:05:27.200 plastic surgery. And it was known internally that this would 0:05:27.279 --> 0:05:31.320 harm the mental health of kids, including especially young girls, 0:05:31.880 --> 0:05:35.200 and his team warned him about it. They raised the 0:05:35.200 --> 0:05:37.799 red flag. He overruled them and said do it anyway. 0:05:38.160 --> 0:05:42.719 He chose profit over the safety of children. So it's 0:05:42.760 --> 0:05:45.320 the same thing with tobacco. They knew about the harms, 0:05:45.360 --> 0:05:48.840 and they visited that on the American public anyway. It's 0:05:48.839 --> 0:05:51.320 the same with opioids. They knew the addictive, harmful impacts, 0:05:51.360 --> 0:05:54.480 they visited on the visited on the American republic anyway. 0:05:54.520 --> 0:05:57.600 And this is not just the American public. This is kids, 0:05:57.920 --> 0:06:02.679 our kids, our children, the next iteration as parents and teachers. 0:06:02.680 --> 0:06:06.000 We have to be passionate about this, and I am, 0:06:06.080 --> 0:06:07.919 and so are the other attorney's general. So yeah, this 0:06:08.000 --> 0:06:12.080 is about knowing the harm, doing it anyway, doubling down 0:06:12.080 --> 0:06:13.680 on it, and lying about it to the public. 0:06:14.040 --> 0:06:16.200 It is very tobacco like in that way. 0:06:16.480 --> 0:06:19.360 Is meta, though in a league all its own, any 0:06:19.400 --> 0:06:24.040 different than some of the other social media platforms that 0:06:24.080 --> 0:06:26.080 are out there. I'm thinking TikTok, Snap or YouTube. I'm 0:06:26.080 --> 0:06:30.120 thinking of some reporting, mister Attorney General, that our own 0:06:30.160 --> 0:06:33.880 Olivia Cornell, Olivia Carvell excuse me, has done where they 0:06:34.160 --> 0:06:37.520 kept a safety feature for millions and one ultimately died 0:06:37.560 --> 0:06:43.159 by suicide. So I'm just wondering, are they the worst 0:06:43.160 --> 0:06:46.480 offender in your view or the other ones you guys 0:06:46.520 --> 0:06:47.520 are coming at them next. 0:06:48.360 --> 0:06:50.799 They're a major offender, but they're not the only offender. 0:06:50.920 --> 0:06:54.600 And we've already brought a lawsuit against TikTok that's pending now, 0:06:55.160 --> 0:06:58.560 and similarly, states across the country, over forty states, bipartisan 0:06:58.640 --> 0:07:02.880 have brought their own lawsuits against TikTok. We're also very 0:07:02.880 --> 0:07:05.800 interested in Snap, We're very interested in YouTube. We're not 0:07:05.960 --> 0:07:10.520 just picking out one particular player. It's an industry that 0:07:10.600 --> 0:07:14.760 has followed a lot of the same m where they 0:07:15.320 --> 0:07:17.920 know about the harms. Those harms make them money, so 0:07:17.960 --> 0:07:19.960 they double down on those harms on our children. 0:07:20.200 --> 0:07:21.720 They do it anyway, and they lie to the public. 0:07:21.800 --> 0:07:24.120 So it's not only Meta, but Meta is the one 0:07:24.120 --> 0:07:26.280 that's in file starting Tuesday, so we're focused on them. 0:07:26.360 --> 0:07:28.200 It's also an industry that brings a lot of money 0:07:28.280 --> 0:07:31.960 to the state of California. Whether it's alphabet, whether it's 0:07:31.960 --> 0:07:35.240 meta platforms, you know it. Well, they employ a lot, they. 0:07:35.120 --> 0:07:35.520 Do a lot. 0:07:35.560 --> 0:07:38.120 They probably pay a lot of taxes as well to 0:07:38.160 --> 0:07:42.480 your state. What is the balance? It's always societal impact 0:07:42.640 --> 0:07:46.240 versus economic impacts. How do you balance that? How do 0:07:46.280 --> 0:07:48.080 you think about that and reconcile those two. 0:07:48.960 --> 0:07:51.800 Yeah, it's pretty straightforward and simple. They have to follow 0:07:51.800 --> 0:07:55.440 the law, period, full stop. Meta can be wildly successful 0:07:55.600 --> 0:07:58.840 and follow the law. And I don't just suggest that, 0:07:58.880 --> 0:08:01.760 I insist they have to follow the law. They cannot 0:08:01.800 --> 0:08:04.960 hurt our kids. And they have broken the law, whether 0:08:04.960 --> 0:08:08.679 it be federal law and taking advantage of the privacy 0:08:08.680 --> 0:08:13.040 of children under thirteen, or violating the false advertising law 0:08:13.120 --> 0:08:16.360 or the unfair competition law in our state by providing 0:08:16.560 --> 0:08:19.640 dangerous features, designing dangerous features, and lying to the public. 0:08:19.760 --> 0:08:23.800 So we want businesses to found here in California, to 0:08:23.840 --> 0:08:26.520 grow in California, to create good jobs, to contribute to 0:08:26.560 --> 0:08:29.160 us being the fourth largest economy in the world, and 0:08:29.360 --> 0:08:31.400 we want them to follow law, the law, and we 0:08:31.480 --> 0:08:34.440 know that they can and we know that they will 0:08:34.480 --> 0:08:37.120 when we enforce and we insist that they must. 0:08:37.160 --> 0:08:40.240 So the balance is, you need to be a business 0:08:40.240 --> 0:08:42.640 that follows the law. If Meta has broken the law here, 0:08:42.640 --> 0:08:43.480 so we're taking them to court. 0:08:43.720 --> 0:08:47.360 If Meta is Big Tobacco, if Meta is the Sackler family, 0:08:47.440 --> 0:08:50.480 as you've asserted, Attorney General, do you want to put 0:08:50.520 --> 0:08:51.520 Meta out of business? 0:08:52.679 --> 0:08:53.040 I do not. 0:08:53.679 --> 0:08:56.559 It's an analogy to the same conduct, the same type 0:08:56.559 --> 0:09:01.120 of knowing conduct that harms the public, doing it anyway, 0:09:01.160 --> 0:09:04.400 doubling down on it and lying that's them. That's what 0:09:04.559 --> 0:09:08.360 is like tobacco, That is like similar to the Sackler 0:09:08.400 --> 0:09:12.240 family and to Purdue Pharma. They can stop and end 0:09:12.440 --> 0:09:18.960 these addictive features, these dangerous features for children and still 0:09:18.960 --> 0:09:22.680 have a product that is not dangerous to kids and 0:09:22.720 --> 0:09:25.680 could be very successful. So no, we are not interested 0:09:25.720 --> 0:09:27.800 in putting them out of business. We are interested in 0:09:28.040 --> 0:09:33.760 ending the harmful, unlawful features that hurt kids, that are addictive, 0:09:33.840 --> 0:09:36.240 that are excessive and create compulsive behavior. 0:09:36.320 --> 0:09:40.920 Will Mark Zuckerberg be called to testify. 0:09:40.400 --> 0:09:43.120 We'll see. Right now, we think we have a really 0:09:43.120 --> 0:09:47.920 strong case. You know, without him, it might be important 0:09:48.000 --> 0:09:49.280 to have him part of the case. 0:09:49.760 --> 0:09:51.040 I did mention that important. 0:09:51.760 --> 0:09:54.200 Yeah, why wouldn't Why wouldn't you want him there? We 0:09:54.240 --> 0:09:56.600 always talk about when it's a publicly held company, the 0:09:56.679 --> 0:09:59.960 CEO is at the top and responsible for whatever happened 0:10:00.160 --> 0:10:02.320 at a company. Ultimately, why wouldn't you. 0:10:04.640 --> 0:10:06.920 Well, we might. I mean, I'm not saying we will 0:10:07.000 --> 0:10:09.319 or we won't. It's a big company. 0:10:09.640 --> 0:10:12.080 We were able to make our case about the dangerousness 0:10:12.080 --> 0:10:14.800 of the features, the lying. We have a ton of documents, 0:10:14.840 --> 0:10:16.520 We have a lot of other evidence in the case. 0:10:18.360 --> 0:10:20.720 We have taken his deposition in another case, so we're 0:10:20.720 --> 0:10:25.160 not afraid to, as necessary, deposed the person at the top. 0:10:25.800 --> 0:10:29.079 It is his company, as you mentioned, the founder, and 0:10:29.679 --> 0:10:32.160 so we may. 0:10:31.280 --> 0:10:34.160 Wouldn't be the big tobacco moment without all those CEOs 0:10:34.160 --> 0:10:34.920 sitting there together. 0:10:35.000 --> 0:10:37.720 Right, They've been the. 0:10:40.040 --> 0:10:42.840 Soccer birds who apologize to these families. 0:10:42.880 --> 0:10:46.959 As part of this, you know, we're going to bring 0:10:47.000 --> 0:10:50.440 our case, and I do think it's appropriate for him 0:10:50.520 --> 0:10:54.120 to apologize to all the families that have been harmed, 0:10:54.520 --> 0:10:58.040 the families of the children, the children themselves. I think 0:10:58.080 --> 0:11:03.480 that what speaks of a very strong apology is to 0:11:03.559 --> 0:11:06.839 change the conduct and the features that know on our kids. 0:11:07.240 --> 0:11:11.400 That's the primary thing that we're looking for in this case. 0:11:11.520 --> 0:11:15.480 Of course, the financial components are important too, But we 0:11:15.520 --> 0:11:17.079 want to protect our kids. We want them to be 0:11:17.120 --> 0:11:19.720 safe going forward. Any parent, teacher, or guardian knows that, 0:11:20.080 --> 0:11:22.800 and that's what we're focused on. So action more important 0:11:22.800 --> 0:11:25.280 than words. But the words of an apology, if sincere 0:11:25.320 --> 0:11:27.559 and in good faith, that would be strong and important. 0:11:27.559 --> 0:11:32.559 To stay with us for more on Bloomberg this weekend. 0:11:32.840 --> 0:11:47.800 Right after this, this next story goes out to four 0:11:47.840 --> 0:11:51.000 of the most dedicated Bloomberg super fans. We're talking about 0:11:51.280 --> 0:11:53.680 Scout and Yact those are my puppies, and. 0:11:53.640 --> 0:11:57.760 Also Dixie and Django. Those are my guys. Those are 0:11:57.760 --> 0:11:59.160 the kiddos. Yes, yeah, I. 0:11:59.120 --> 0:12:01.440 Mean listen of our pets. And this is all about 0:12:01.440 --> 0:12:05.080 pet owners spending big bucks. I know it to keep 0:12:05.160 --> 0:12:08.439 Fido fit as a fiddle for as long as possibly 0:12:08.480 --> 0:12:09.400 want them around forever. 0:12:09.559 --> 0:12:12.520 All right, Yeah, we don't deserve them. These these are 0:12:12.559 --> 0:12:13.520 our family members. 0:12:13.720 --> 0:12:14.120 Love them. 0:12:14.160 --> 0:12:17.400 They're turning to some familiar tools in the wellness space. 0:12:17.520 --> 0:12:21.840 I'm blown away by this. I'm clearly not the pup 0:12:21.920 --> 0:12:26.200 ye peptides, anti aging drugs, red light therapy. This is 0:12:26.240 --> 0:12:29.360 not for the owner, Carol, It's for the pet. 0:12:29.480 --> 0:12:32.079 It is indeed. Anna Edney is a Bloomberg News national 0:12:32.080 --> 0:12:34.680 health care reporter. She knows about this stuff. She wrote 0:12:34.720 --> 0:12:37.520 about this for the Bloomberg Big Take, and she joins 0:12:37.600 --> 0:12:39.760 us here on this Sunday. Anna, We've been having some 0:12:39.800 --> 0:12:42.640 fun reading this talking about it leading up to having 0:12:42.679 --> 0:12:45.760 a chat with you. Tell us what is going on. 0:12:45.960 --> 0:12:48.440 I mean, I haven't even done peptides. I haven't given 0:12:48.480 --> 0:12:50.320 them to my dogs, but there's a lot of people 0:12:50.360 --> 0:12:50.960 out there who. 0:12:50.840 --> 0:12:55.760 Are Yeah, that's absolutely right. Both of your dogs are adorable. 0:12:55.880 --> 0:13:01.600 I love, but they We talked to my colleague, Anica 0:13:01.640 --> 0:13:04.559 and I we talked to some pet owners who are 0:13:05.160 --> 0:13:07.959 looking at you know, they're thinking a lot of times 0:13:07.960 --> 0:13:11.640 about longevity and wellness for themselves, and then they are 0:13:11.720 --> 0:13:14.439 extending that to their pets. If they're going to live longer, 0:13:14.480 --> 0:13:16.720 they want their pets to be there with them, so 0:13:16.800 --> 0:13:21.560 they're trying pet tides. Red Light therapy was a big 0:13:21.600 --> 0:13:24.960 one that we heard about as well as and a 0:13:25.000 --> 0:13:28.040 longevity drug that people are trying. This is not a 0:13:28.120 --> 0:13:31.680 drug that's approved for this, called Rappamias, and yeah, it 0:13:31.720 --> 0:13:35.400 actually is approved for organ transplants to try to help 0:13:35.480 --> 0:13:38.840 people not reject the organ, but in smaller doses they're 0:13:38.880 --> 0:13:39.719 trying it out for. 0:13:39.679 --> 0:13:41.120 It sounds a lot extreme. 0:13:41.200 --> 0:13:42.840 Is it safe for our dogs? 0:13:42.960 --> 0:13:43.160 Yeah? 0:13:43.720 --> 0:13:46.679 Yeah, I think that's a really really good question. You know, 0:13:47.200 --> 0:13:50.840 a lot of the vets that I talked to were 0:13:50.840 --> 0:13:53.800 cautious about that and said, you know, there was one 0:13:53.840 --> 0:13:57.680 woman who at University of California, Davis who told me, 0:13:58.200 --> 0:14:00.280 you know, often when we see a sick pet men, 0:14:00.400 --> 0:14:04.000 we are asking what they're taking in addition to you know, 0:14:04.080 --> 0:14:07.520 the pet food, and if it's supplements, we ask them, 0:14:07.640 --> 0:14:09.839 you know, to stop the supplements for a little while, 0:14:09.880 --> 0:14:13.120 because often that's actually the cause of some of the illness, 0:14:13.160 --> 0:14:17.360 particularly if they're getting them from somewhere that maybe isn't 0:14:17.800 --> 0:14:21.680 just kind of your regular pet store aisle. And so, 0:14:22.160 --> 0:14:24.280 you know, I think that that's a that's something that 0:14:24.320 --> 0:14:26.720 pet owners need to weigh when they're when they're thinking 0:14:26.760 --> 0:14:30.080 about this. There is a clinical trial in dogs going 0:14:30.080 --> 0:14:34.080 on with the Dog Aging Project at the University at 0:14:34.120 --> 0:14:36.800 Texas A and M University. I talked to a vet 0:14:36.840 --> 0:14:40.800 there who's the chief veterinary office or of that, and 0:14:41.080 --> 0:14:43.760 they're looking at this. They said they haven't seen any 0:14:44.440 --> 0:14:47.400 side effects that might be linked to the drug. But 0:14:47.480 --> 0:14:50.480 it's early. They're still unrolling dogs, so they don't know 0:14:50.640 --> 0:14:51.360 everything yet. 0:14:51.760 --> 0:14:55.800 And any of us who own pops, no, it's not inexpensive. 0:14:55.880 --> 0:14:57.960 We've all had those vet bills. Just talk to Tom 0:14:58.040 --> 0:15:01.640 Keen about them. It's often a common narrative. 0:15:02.920 --> 0:15:03.600 In the morning. 0:15:04.440 --> 0:15:06.560 I'm curious about what this all costs and how it 0:15:06.560 --> 0:15:08.640 plays into the bigger picture of what we are spending 0:15:08.680 --> 0:15:09.640 on our pets. 0:15:10.760 --> 0:15:13.640 Yeah, we we are spending a lot of money on 0:15:13.680 --> 0:15:16.760 our pets. You know, looking at about one hundred and 0:15:16.800 --> 0:15:20.120 sixty five billion just in the US coming up, and 0:15:20.160 --> 0:15:23.440 that's for your your normal I guess, your usual pet 0:15:23.440 --> 0:15:27.160 care things you think of like veterinary visits and pet 0:15:27.200 --> 0:15:31.120 food and toys, things like that. And then you know 0:15:31.240 --> 0:15:35.480 there's the the pet supplement market, which is you know, 0:15:36.080 --> 0:15:39.400 a smaller portion of that about two point nine billion 0:15:39.520 --> 0:15:43.720 expected this year, but you know there I did talk 0:15:43.800 --> 0:15:48.480 to a woman who follows this market and she mentioned that, 0:15:49.680 --> 0:15:51.960 you know, she's seeing a lot of those supplements catch 0:15:51.960 --> 0:15:54.080 on to this trend. Though they're not just saying they're 0:15:54.080 --> 0:15:59.160 for senior dogs anymore. They're saying they're for longevity. Looking 0:15:59.160 --> 0:16:01.240 at that, even if they're kind of some of the 0:16:01.280 --> 0:16:05.640 same supplements we've seen for senior dogs before. So you know, 0:16:05.960 --> 0:16:09.640 there's a lot people are spending hundreds of dollars a 0:16:09.720 --> 0:16:12.160 month on some of these drugs and on the red 0:16:12.240 --> 0:16:16.280 light therapy. We talked to a pet owner and his 0:16:16.760 --> 0:16:20.120 sort of I guess dog nanny who helps with the 0:16:20.160 --> 0:16:23.440 dogs and helps keep all of their pills and their 0:16:23.480 --> 0:16:27.600 food and their supplements going throughout the day and does 0:16:27.600 --> 0:16:29.720 a lot of their does their red light therapy with 0:16:29.800 --> 0:16:33.080 a red light laser. So people are definitely who are 0:16:33.080 --> 0:16:35.240 interested in this putting up a lot of money. 0:16:35.320 --> 0:16:40.400 You have a dog nanny, right, Yeah, definitely, that's called Joe. Yeah, 0:16:40.400 --> 0:16:42.400 I walk them every morning. That's the I do what 0:16:42.480 --> 0:16:45.320 I can. But what's the endgame here? By the way, 0:16:45.360 --> 0:16:48.080 my dog would never sit there for red light therapy. 0:16:48.640 --> 0:16:50.560 Are our dogs going to be living till they're thirty 0:16:50.640 --> 0:16:53.240 years old or something someday? 0:16:53.520 --> 0:16:56.160 You know? I think that that's what the people who 0:16:56.160 --> 0:16:58.600 are doing this really hope for, is they're going to 0:16:58.720 --> 0:17:02.360 extend the life of dogs. You know. I talked to 0:17:03.280 --> 0:17:06.120 the chief executive officer of a Lanco, it's a pet 0:17:06.240 --> 0:17:10.639 animal health company, and he said, we've already extended the 0:17:10.680 --> 0:17:12.720 life of a lot of our pets throughout the years. 0:17:12.760 --> 0:17:15.440 You know, they used to live outside mostly now they're inside. 0:17:15.480 --> 0:17:19.679 That helps. They're doing their vaccines, they have you know, 0:17:20.040 --> 0:17:23.760 better food, better nutrition, and each of that adds, you know, 0:17:23.880 --> 0:17:27.359 five ten years every time. And so as we're looking 0:17:27.440 --> 0:17:30.480 at companies like Loyal who's trying to bring along Deevity 0:17:30.560 --> 0:17:32.840 drug to market, or even a lanco that's trying to 0:17:32.880 --> 0:17:36.520 work on some things to help with with these diseases 0:17:37.040 --> 0:17:40.560 that can kill our pets, you know, we can add 0:17:40.600 --> 0:17:42.640 another five or ten years. I don't know if we're 0:17:42.680 --> 0:17:45.600 looking at forever for our pets. 0:17:45.880 --> 0:17:47.080 Wow, I don't know. 0:17:47.080 --> 0:17:48.359 I guess it beats taxi Jeremy. 0:17:50.359 --> 0:17:50.560 Yeah. 0:17:50.880 --> 0:17:51.080 Good. 0:17:51.200 --> 0:17:53.679 People were doing this with their crazy great. Thank you, 0:17:53.680 --> 0:17:56.560 you're great. I love the story. 0:17:56.800 --> 0:17:59.000 Stay with us for more on Bloomberg this weekend. 0:17:59.240 --> 0:17:59.960 Right after this. 0:18:12.160 --> 0:18:14.960 When it comes to the Odyssey, right, you've seen that 0:18:15.160 --> 0:18:17.800 or some of them I have it either, Well, there 0:18:17.800 --> 0:18:21.440 are no shortages of conversation starters. It's massive box office 0:18:21.480 --> 0:18:25.280 hall yep, we've done that, the IMAX screening, the cast. 0:18:25.400 --> 0:18:29.919 So why are so many people talking about Travis? It's veneers, 0:18:30.880 --> 0:18:34.639 the teeth, the deep culture, podcasters said they have no 0:18:34.840 --> 0:18:38.600 place in Ithaca, and that's. 0:18:39.000 --> 0:18:39.679 Are they wrong? 0:18:40.000 --> 0:18:40.679 I don't think so. 0:18:41.080 --> 0:18:42.680 It was a little distracting. I saw the movie. 0:18:42.760 --> 0:18:45.880 Yes, people have too much time on their hands. Bloomberg 0:18:45.920 --> 0:18:48.399 Business Week senior reporter Amanda Mall lays it out and 0:18:48.440 --> 0:18:52.360 a new piece about the optimization backlash, there's more to this, 0:18:52.400 --> 0:18:55.679 She writes, If people really are sick of influencers, is 0:18:55.680 --> 0:18:58.760 it possible the kind of perfection they've so effectively sold 0:18:58.880 --> 0:19:01.440 is beginning to fall out of favor too? 0:19:03.920 --> 0:19:06.959 All right, yeah, all right, yeah, Amanda, come on in 0:19:07.000 --> 0:19:09.520 on this man. This is just like right up your alley, kiddo. 0:19:10.840 --> 0:19:13.879 I think Joe's perfect. I think Lisa is perfect. But 0:19:14.000 --> 0:19:17.280 is perfection getting a little born? Yeah? 0:19:17.400 --> 0:19:21.080 I think that people spend so much time looking at Instagram, 0:19:21.160 --> 0:19:24.800 looking at TikTok, looking at you know, famous people in 0:19:25.000 --> 0:19:29.000 movies and streaming shows that we are I think as 0:19:29.040 --> 0:19:31.199 a culture getting sort of sick of looking at like 0:19:31.280 --> 0:19:36.520 over perfected, unmoving, smooth faces. I think people want a 0:19:36.560 --> 0:19:38.160 little bit of humanity back. 0:19:41.400 --> 0:19:44.359 Well, take a look a little why. 0:19:44.160 --> 0:19:46.399 It means a little bit of wrinkles, A little bit 0:19:46.400 --> 0:19:46.760 of wrinkles. 0:19:46.840 --> 0:19:48.680 Yes, get botox and say live a little space in 0:19:48.720 --> 0:19:49.320 there for wrinkle. 0:19:49.560 --> 0:19:50.520 But why is it? 0:19:50.560 --> 0:19:53.560 Is it because of you know, maybe we've seen too 0:19:53.840 --> 0:19:56.040 much of it, like maybe it was too easy to get, 0:19:56.119 --> 0:19:58.120 you know, it's easy to get, you know, all these 0:19:58.119 --> 0:20:00.560 things that people wanted so much. And is that one 0:20:00.640 --> 0:20:02.520 of the reasons. I'm still trying to figure it out. 0:20:03.280 --> 0:20:05.159 Yes, I think part of it is that we just 0:20:05.200 --> 0:20:08.000 spend too much time looking at people who seem to 0:20:08.040 --> 0:20:10.439 have the same face as the person we were just 0:20:10.480 --> 0:20:13.439 looking at in the previous video. I think that, you know, 0:20:13.480 --> 0:20:16.040 it's not only cosmetic procedures and things like that, but 0:20:16.080 --> 0:20:19.160 the types of filters that get used on social videos 0:20:19.440 --> 0:20:21.760 are often sort of like bring everybody to this, sort 0:20:21.760 --> 0:20:27.199 of like flattened average of like a perfect face, and 0:20:27.240 --> 0:20:29.520 I think we're sick of that. But then also I 0:20:29.560 --> 0:20:31.520 think we see it more and more in the people 0:20:31.560 --> 0:20:35.040 around us because the number of medi spas in the 0:20:35.119 --> 0:20:39.920 United States has ballooned since the pandemic. Thousands of new 0:20:40.960 --> 0:20:44.320 you know, places to get botox and filler and things 0:20:44.359 --> 0:20:47.560 like that have opened in every strip mall in the US. 0:20:47.600 --> 0:20:54.680 It can seem like sometimes it's terrific. Yes, yes, anybody right, yes, yes, 0:20:55.640 --> 0:21:00.680 my allergist offers botox and filler. You know, it's it's 0:21:00.680 --> 0:21:02.600 a for doctors. It's a really good business. It's a 0:21:02.640 --> 0:21:05.080 cash pay business. People are excited to get it so 0:21:05.280 --> 0:21:07.159 you can you can get this stuff anywhere now, and 0:21:07.200 --> 0:21:08.360 that makes people a little bit. 0:21:08.480 --> 0:21:10.879 It just went over word though, right. The numbers that 0:21:11.760 --> 0:21:14.840 this explosion between, as you point out, twenty nineteen and 0:21:14.840 --> 0:21:19.359 twenty twenty four, the number of nonsurgical aesthetic procedures performed 0:21:19.359 --> 0:21:22.679 worldwide jumped more than fifty percent. So like half the 0:21:22.720 --> 0:21:25.720 world is talking and their face isn't moving. Are we 0:21:25.760 --> 0:21:29.080 going to see a backlash where it goes back down 0:21:29.160 --> 0:21:29.800 fifty percent? 0:21:30.800 --> 0:21:33.760 Well, I don't think we're necessarily going to see these 0:21:33.800 --> 0:21:38.200 procedures decline. I think that people have too much access. 0:21:38.240 --> 0:21:41.520 It's too good of a business for healthcare practices. But 0:21:41.640 --> 0:21:44.000 I think that perhaps the nature of some of these 0:21:44.000 --> 0:21:47.600 procedures is going to change. What we have heard is that, 0:21:47.800 --> 0:21:51.679