WEBVTT - Tracking the Path of the Coronavirus Outbreak 0:00:00.440 --> 0:00:02.960 This is Bloomberg Business Week. I'm Carol Masser and I'm 0:00:03.040 --> 0:00:05.520 Jason Kelly. We're here every day bringing you the latest 0:00:05.519 --> 0:00:09.800 news from the world's of business and finance, plus technology, politics, economics, 0:00:09.840 --> 0:00:13.480 all harnessing the power of Bloomberg Business Week reporters and editors, 0:00:13.480 --> 0:00:16.639 not to mention our hundred journalists and analysts more than 0:00:16.680 --> 0:00:19.280 a hundred and twenty countries. You can download Bloomberg Business 0:00:19.320 --> 0:00:22.200 Week on iTunes, SoundCloud, or Bloomberg dot Com. You can 0:00:22.200 --> 0:00:24.520 also listen to our radio show weekdays at two pm 0:00:24.520 --> 0:00:28.800 Eastern only on Bloomberg Radio. A busy afternoon ahead. They 0:00:28.840 --> 0:00:33.000 all are busy in many ways, Carol, because we are 0:00:33.200 --> 0:00:37.479 continually hearing from city and state leaders. It was interesting 0:00:37.560 --> 0:00:42.000 looking at the rundown of those press conferences earlier today, 0:00:42.000 --> 0:00:46.199 shared by one of our producers. All the I shouldn't 0:00:46.200 --> 0:00:48.240 say all the states, but you know a huge number 0:00:48.240 --> 0:00:50.320 of states, like more than half a dozen, now holding 0:00:50.400 --> 0:00:53.559 daily briefings in many cases to update their citizens right 0:00:53.600 --> 0:00:56.560 and you can hear the stress in those governors voices. 0:00:56.600 --> 0:00:59.640 In particular, Virginia, Maryland, and Washington, d C. Now have 0:00:59.720 --> 0:01:03.280 issue stay at home orders. Virginia's stretching to June tenth 0:01:03.800 --> 0:01:05.520 uh and the San Francisco Bay Are is going to 0:01:05.560 --> 0:01:08.080 extend its mandate to May. So this is just a 0:01:08.120 --> 0:01:11.559 reminder that when we hear these deadlines or these hopes 0:01:11.600 --> 0:01:15.520 to kind of reopen our world, um, they're they're movable dates. 0:01:15.640 --> 0:01:18.400 And we constantly see that it's based on the numbers. 0:01:18.480 --> 0:01:21.520 And you continue to see the governors, even though maybe 0:01:21.560 --> 0:01:24.080 some of the new cases numbers are going down a 0:01:24.080 --> 0:01:26.840 little bit, UM, they're still putting pressure on, you know, 0:01:27.000 --> 0:01:30.160 individuals to stay at home and keep that social distancing. 0:01:30.400 --> 0:01:32.440 So we do want to talk a little bit about 0:01:32.480 --> 0:01:34.639 what we're hearing on the medical side of this story. 0:01:34.959 --> 0:01:39.200 Andy Pakosh is Professor of molecular micro biology and Immunology 0:01:39.280 --> 0:01:43.360 at Johns Hopkins University, Bloomberg School of Public Health. Bloomberg 0:01:43.400 --> 0:01:46.119 School of Public Health supported by Michael R. Bloomberg, founder 0:01:46.160 --> 0:01:50.920 of Bloomberg LP and Bloomberg Philanthropies. UM. Andy joining us, 0:01:50.960 --> 0:01:54.080 of course on the phone from Baltimore. Dr Pacash, so 0:01:54.200 --> 0:01:57.080 nice to have you with us. You know, we were 0:01:57.120 --> 0:01:59.840 saying that you can feel that the world is working 0:02:00.080 --> 0:02:03.840 very very hard to figure out a medical solution to 0:02:03.960 --> 0:02:07.640 this at the mean and you know, also at the 0:02:07.680 --> 0:02:10.280 same time, we're seeing the medical community feeling stressed in 0:02:10.360 --> 0:02:13.640 terms of caring for those existing cases. Let's talk about 0:02:13.720 --> 0:02:16.240 that first, because we have a story on the Bloomberg 0:02:16.320 --> 0:02:19.359 that talks about doctors being threatened not to talk to 0:02:19.400 --> 0:02:22.440 the press about the situation. We hear hear stories about 0:02:22.440 --> 0:02:25.800 doctors having to make choices about who gets UM necessary 0:02:25.800 --> 0:02:29.079 medical equipment. What are you hearing on that front? Well, 0:02:29.120 --> 0:02:32.359 I think there's there's a lot of stress and there's 0:02:32.400 --> 0:02:37.240 a lot of anxiety. I think, UM when you're particularly 0:02:37.280 --> 0:02:41.960 in cities where you're the beginning of the the case 0:02:42.000 --> 0:02:44.600 curve UM, it's the unknown of how many cases are 0:02:44.600 --> 0:02:46.480 going to come in, all the public health innovation is 0:02:46.520 --> 0:02:48.880 going to work, what's the timing of the interventions that 0:02:48.880 --> 0:02:51.520 are going to work, and the and that affects planning 0:02:51.560 --> 0:02:53.880 because you really don't have firm numbers to plan for, 0:02:54.080 --> 0:02:58.160 so you try to plan for, um, the worst case scenario, 0:02:58.240 --> 0:03:00.840 hope for the best case scenario, and all of those 0:03:00.880 --> 0:03:04.000 things are just, you know, incredibly stressful on a population 0:03:04.000 --> 0:03:06.400 of people who are let's be honest, right, these are 0:03:06.400 --> 0:03:08.320 the people that are actually going and facing these and 0:03:09.080 --> 0:03:12.120 dealing with infected individuals and you know, putting their lives 0:03:12.160 --> 0:03:15.600 on the law and every day and so Dr Pekash 0:03:15.760 --> 0:03:18.360 you one other thing or another thing. There are so 0:03:18.360 --> 0:03:19.800 many things we want to talk to you about. But 0:03:20.080 --> 0:03:22.480 you know, one of the other things is this notion 0:03:22.840 --> 0:03:25.920 of you know, how this is playing out across the nation, 0:03:26.000 --> 0:03:29.600 because that speaks to the doctors, that speaks speaks to 0:03:29.600 --> 0:03:32.120 the stress that they're feeling, but also the way individual 0:03:32.160 --> 0:03:35.880 governments are dealing with it. Help us understand kind of 0:03:35.920 --> 0:03:39.320 this variable reaction that we're seeing and maybe some of 0:03:39.320 --> 0:03:42.840 the implications of that. Well, you know, the number of 0:03:42.880 --> 0:03:46.640 cases that are occurring can really vary based on which 0:03:46.640 --> 0:03:49.960 part of the country that you're in, and so um um, 0:03:50.320 --> 0:03:56.119 different hospital networks are at different levels of preparation um 0:03:56.200 --> 0:04:00.160 and different hospital networks are gearing up for or a 0:04:00.200 --> 0:04:02.960 surge at different times. And so what you're seeing is 0:04:02.960 --> 0:04:06.400 that there's a very sort of user term heterogeneous response 0:04:06.440 --> 0:04:09.840 across the nation because it's all dictated by your local situation. 0:04:10.000 --> 0:04:12.440 For example, if you don't have a lot of cases, 0:04:12.680 --> 0:04:15.920 you probably don't want to start hoarding up too many 0:04:15.960 --> 0:04:18.440 respirators and those kind of things, because obviously there are 0:04:18.480 --> 0:04:20.800 needs in other parts of the country. Yet you have 0:04:20.880 --> 0:04:23.520 to balance that with the idea that eventually you will 0:04:23.560 --> 0:04:25.520 have a surgery cases and you want to be prepared 0:04:25.520 --> 0:04:31.159 for that. So who ultimately should be making those decisions, 0:04:31.279 --> 0:04:35.799 because I mean embedded in everything you just said, there's 0:04:35.800 --> 0:04:38.479 a lot of potential conflicts there and and a lot 0:04:38.520 --> 0:04:42.160 of wrong decisions that could be made. Yeah, so you know, 0:04:42.400 --> 0:04:46.760 UM centralized decision making is probably the best UM course 0:04:46.800 --> 0:04:51.480 of action. UM Making sure that UM supply line chains 0:04:51.520 --> 0:04:55.240 are there and that the movement of UH supplies can 0:04:55.279 --> 0:04:58.599 be done very very quickly is a second sort of 0:04:58.640 --> 0:05:01.479 logistical thing that needs to between in place. What do 0:05:01.520 --> 0:05:03.880 you think at this point is the most important treatment 0:05:03.920 --> 0:05:07.600 development that folks are are chasing really around the world. 0:05:07.640 --> 0:05:10.839 We're seeing a lot of coordinations certainly between UM, the 0:05:10.880 --> 0:05:14.880 healthcare community, drug makers and so on researchers, But what 0:05:14.920 --> 0:05:17.839 do you think is the most important thing that is 0:05:17.880 --> 0:05:20.000 being that is happening right now that can really help 0:05:20.080 --> 0:05:24.400 us get control of this well right now, the important 0:05:24.440 --> 0:05:28.840 thing is that multiple institutions are trying to set up 0:05:29.120 --> 0:05:34.159 controlled trials to actually firmly decide whether or not a 0:05:34.200 --> 0:05:37.039 treatment will or will not be beneficial so I know 0:05:37.160 --> 0:05:38.840 here at Johns Hopkins we have a number of them 0:05:38.920 --> 0:05:42.159 going UM this early stage of the surgeon cases at 0:05:42.200 --> 0:05:44.240 the time when we can generate some data not what 0:05:44.360 --> 0:05:48.159 is the most effective treatment and then apply that to 0:05:49.040 --> 0:05:52.200 cases that are coming down later down the pipeline. So 0:05:52.400 --> 0:05:54.760 a number of drugs are in place. We heard Johns 0:05:54.760 --> 0:05:59.960 Hopkins have been invested in using UH serum from into 0:06:00.000 --> 0:06:02.880 agels who have recovered as a potential treatment for m 0:06:03.200 --> 0:06:06.200 new cases UM. A lot of these things are now 0:06:06.240 --> 0:06:09.960 being tested and the trials to show their efficacy are 0:06:10.000 --> 0:06:11.839 being put online and we hope in the a couple 0:06:11.880 --> 0:06:13.880 of weeks to start seeing the results of those trials. 0:06:14.560 --> 0:06:18.800 Dr Peckash, we were talking UM yesterday with one of 0:06:18.800 --> 0:06:21.760 the team up at Columbia that's working with David ho 0:06:22.040 --> 0:06:24.680 and you know, you know him better than than we 0:06:24.760 --> 0:06:27.400 do in terms of his work on a research and 0:06:27.720 --> 0:06:30.839 other things. And he was talking this doctor was talking 0:06:30.880 --> 0:06:34.520 about sort of the collaboration that is happening. Would you 0:06:34.600 --> 0:06:37.600 echo him that that we're seeing a level of collaboration 0:06:37.640 --> 0:06:40.520 and maybe and maybe that's driven by a sense of 0:06:40.600 --> 0:06:42.839 urgency here and what does that look like on the 0:06:42.880 --> 0:06:45.520 front lines where you are I think that is that 0:06:45.680 --> 0:06:47.839 is one of the most amazing things that I've been 0:06:48.080 --> 0:06:51.880 UM experiencing over the past few weeks, people reaching out 0:06:51.920 --> 0:06:55.840 across disciplines, reaching from the clinical into the basic science, 0:06:55.839 --> 0:06:59.080 from the basic science into the clinical UM, trying to 0:06:59.120 --> 0:07:01.839 find ways that each of us can contribute to this 0:07:01.960 --> 0:07:05.400 overall goal of helping to deal with infected patients coming 0:07:05.440 --> 0:07:09.280 through my laboratory. UM has set up a whole new 0:07:09.360 --> 0:07:14.000 wing that's devoted strictly to helping the clinical groups here 0:07:14.320 --> 0:07:16.680 in terms of essays that we can do to support 0:07:16.720 --> 0:07:21.000 them UM. And that's happened in the past four weeks. UM, 0:07:21.080 --> 0:07:24.040 and so there's been an amazing number of of of 0:07:24.040 --> 0:07:27.760 discussion and conversations really with this idea that what can 0:07:27.800 --> 0:07:31.480 we do to help our patients as soon as possible? 0:07:32.000 --> 0:07:37.040 UM and UM, it's been fantastically inspiring. Well, let me 0:07:37.120 --> 0:07:39.120 follow up with you on that, because it's interesting as 0:07:39.160 --> 0:07:41.200 you were saying that, I thought about a question that 0:07:41.280 --> 0:07:43.880 we've been asking, you know, all the big important people 0:07:43.880 --> 0:07:46.360 that we talked to on this program and beyond, which 0:07:46.400 --> 0:07:48.600 is what do you think will change on the other 0:07:48.680 --> 0:07:51.280 side of this in terms of the way you operate 0:07:51.360 --> 0:07:55.000 as a researcher, as a physician, as a member of 0:07:55.000 --> 0:07:57.160 not just a teammate at Johns Hopkins, but in the 0:07:57.200 --> 0:08:00.400 broader medical community. Is this the sort of thing that 0:08:00.400 --> 0:08:03.680 that could change the way you do business and do 0:08:03.720 --> 0:08:08.280 your work going forward. Um. You know, uh, it's been 0:08:08.640 --> 0:08:11.880 hard to find time to think about that and everything else. 0:08:12.360 --> 0:08:15.160 But but honestly, I really do hope that that is 0:08:15.240 --> 0:08:18.520 the case, because the like that the conversations that we've 0:08:18.560 --> 0:08:21.360 had in the appreciation of how different people coming to 0:08:21.400 --> 0:08:25.800 the table can really contribute um to overall patient management 0:08:25.800 --> 0:08:28.040 in this case has been UM I don't think. I 0:08:28.080 --> 0:08:31.400 think on both sides um of both in the hospital 0:08:31.400 --> 0:08:33.600 as well searing the research laboratories. So I really would 0:08:33.640 --> 0:08:36.040 think that this is an example of someplace where all 0:08:36.120 --> 0:08:40.200 the best parts of of the medical complex of being 0:08:40.640 --> 0:08:44.800 shown and and can show that they're working together. When 0:08:44.800 --> 0:08:46.480 you look around the globe, when you look around the 0:08:46.559 --> 0:08:49.199 United States, First of all, for the US, do you anticipate, 0:08:49.720 --> 0:08:53.880 um dr PA, that every state is going to be 0:08:54.000 --> 0:08:57.600 dealing with some level of crisis because of the virus. 0:08:58.080 --> 0:09:00.720 And secondly, when you look around the globe, are there 0:09:00.760 --> 0:09:02.920 parts of the world, whether it's some of the emerging markets. 0:09:02.920 --> 0:09:05.920 We've talked about India and Africa certainly on our broadcast. 0:09:06.400 --> 0:09:09.000 That makes you a little bit nervous, UM and the 0:09:09.000 --> 0:09:11.600 impact that the virus could have on them. Yeah, So 0:09:11.640 --> 0:09:14.440 I think the US is really going to see again 0:09:14.920 --> 0:09:17.160 I'll use the term heterogeneous because I think that's the 0:09:17.240 --> 0:09:19.800 best one, even though maybe a little technical. UM, you're 0:09:19.800 --> 0:09:22.240 gonna see very different epidemics and different parts of the 0:09:22.280 --> 0:09:27.360 country really based on how how many times the virus 0:09:27.400 --> 0:09:29.920 has sort of moved into that area and how the 0:09:29.920 --> 0:09:32.640 public health measures, how effective they are, and when they 0:09:32.640 --> 0:09:36.600 were implemented. So you're going to see different reports from 0:09:36.600 --> 0:09:38.600 different parts of the country. That's not in any way 0:09:38.640 --> 0:09:40.800 meant to minimize the outbreak or say that anybody is 0:09:40.800 --> 0:09:42.920 doing a better job and than the other, but but 0:09:42.960 --> 0:09:46.040 you're going to see different reports coming from different places 0:09:46.080 --> 0:09:49.600 about this UM and absolutely I think you know, we 0:09:49.720 --> 0:09:54.160 have collaborators in various parts of Africa, Sub Saharan Africa 0:09:54.640 --> 0:09:58.000 and UM. I think that's a place where we're very 0:09:58.040 --> 0:10:02.080 concerned about whether there's lots of how large numbers of 0:10:02.120 --> 0:10:06.679 cases can be dealt with by the infrastructures already UM 0:10:06.720 --> 0:10:10.200 in the Democratic Republic of Congo. They just controlled an 0:10:10.240 --> 0:10:15.240 epidemic of ebolavirus that's been going on for nearly two years. 0:10:15.840 --> 0:10:19.720 Um an outstanding public health effort. My guess is they're 0:10:19.720 --> 0:10:21.320 not going to have to gear up the deal with 0:10:21.600 --> 0:10:27.040 yet another viral disease COVID nineteen. Well and and Dr Pakasti, 0:10:27.120 --> 0:10:29.800 you know when you when you mentioned that, it brings 0:10:29.800 --> 0:10:32.240 me to another point, which is this idea that this 0:10:32.360 --> 0:10:34.920 is while that there's a short term element to this 0:10:34.960 --> 0:10:37.640 in a sense of urgency, this is also a long 0:10:37.760 --> 0:10:40.200 game in many ways. And you understand that far better 0:10:40.200 --> 0:10:42.800 than we do. Given the research that you have done, 0:10:43.240 --> 0:10:46.480 uh and given the different diseases that you have tracked, 0:10:46.720 --> 0:10:50.319 what's the what sort of timelines do you think about 0:10:50.400 --> 0:10:54.040 in terms of obviously, there is a health crisis and 0:10:54.080 --> 0:10:56.320 immediate health crisis we have to deal with. But in 0:10:56.400 --> 0:10:59.960 terms of really getting our arms around this particular disease 0:11:00.400 --> 0:11:04.199 and coping with it for a serious amount of time 0:11:04.800 --> 0:11:06.679 going forward, how should we think about that in the 0:11:06.760 --> 0:11:11.199 longer term. Well, look to the positive examples, and there 0:11:11.240 --> 0:11:17.320 are countries they're like Singapore, Hong Kong, Um even to 0:11:17.360 --> 0:11:21.120 some extent Korea that suffered a really large number of cases, 0:11:21.160 --> 0:11:24.360 but that have gotten those cases under control and are 0:11:24.360 --> 0:11:26.559 starting to really get far ahead of the virus. So 0:11:27.080 --> 0:11:31.640 those examples tell us that, UM, the virus can be 0:11:31.720 --> 0:11:34.560 controlled with good public health measures, and that's the most 0:11:34.559 --> 0:11:37.440 important thing. So I think getting this under control with 0:11:37.480 --> 0:11:40.280 the public health interventions is going to be the critical thing. 0:11:41.160 --> 0:11:44.840 Trying to send the message to individuals about changing their behaviors, 0:11:44.880 --> 0:11:47.240 even though for a few weeks it's going to be very, 0:11:47.320 --> 0:11:50.760 very difficult to keep some of these things in place. UM, 0:11:50.800 --> 0:11:52.880 we can get ahead of this, and there are examples 0:11:52.880 --> 0:11:55.440 out there of countries that have been able to control 0:11:55.520 --> 0:12:00.400 lists and then restore some semblance of UH of social 0:12:00.520 --> 0:12:04.920 order afterwards, a social opening up afterwards. All right, well, 0:12:05.600 --> 0:12:07.280 go ahead, we're gonna leave it on that note, Andy, 0:12:07.679 --> 0:12:10.679 thank you so much, really really appreciated. Dr Andy Pakosh 0:12:11.040 --> 0:12:15.120 at Johns Hopkins University, Bloomberg School of Public Health. You're 0:12:15.200 --> 0:12:18.920 listening to Bloomberg Business Week with Carol Messer and Jason 0:12:19.000 --> 0:12:22.800 Kelly on Bloomberg Video. I can safely say that as 0:12:22.840 --> 0:12:26.760 I look out my back window across my little suburb 0:12:26.800 --> 0:12:29.600 of New York City, here there are some kids playing 0:12:29.679 --> 0:12:32.240 video games. I just know that It's true. Maybe they 0:12:32.280 --> 0:12:35.040 should be on zoom in a class, maybe they should 0:12:35.040 --> 0:12:37.520 be doing some class work. But they're playing video games. 0:12:37.559 --> 0:12:40.599 It's just a fact. Michael Packtor is video game technology 0:12:40.640 --> 0:12:42.800 analyst for web Bush Securities. He joins us on the 0:12:42.840 --> 0:12:46.240 phone from Long Beach, California. I'm right, Michael, right. I 0:12:46.240 --> 0:12:47.719 mean a lot of kids are playing video games. A 0:12:47.720 --> 0:12:49.880 lot of adults are playing video games right now. Yeah, 0:12:49.880 --> 0:12:53.520 I just took a break for playing video games. Yes, 0:12:54.160 --> 0:12:57.280 everybody playing. I think you call that research, don't you. Yeah, exactly, 0:12:57.280 --> 0:13:01.000 that's your literally your job. Absolutely. So what do we 0:13:01.040 --> 0:13:04.400 know about the backdrop here? I mean there's anecdotal evidence, 0:13:04.400 --> 0:13:07.240 but I mean you've got your hands on real data here, right, Yeah, 0:13:07.240 --> 0:13:10.520 I I do. But you know, realistically, um, there's two 0:13:10.520 --> 0:13:13.240 things we're gonna do, whether we're indoors or outdoors. We're 0:13:13.240 --> 0:13:16.840 gonna eat and we're going to entertain ourselves. And you know, 0:13:16.880 --> 0:13:19.520 it's it's intuitively obvious. If we can't go to restaurants, 0:13:19.559 --> 0:13:22.199 will eat at home. If we can't go out to 0:13:22.320 --> 0:13:26.280 movie theaters and sporting events or even engage in physical activity, 0:13:26.320 --> 0:13:29.320 we're going to do that at home. And so you know, 0:13:29.520 --> 0:13:34.000 clearly we're seeing from internet service providers that internet usages up, 0:13:34.559 --> 0:13:39.119 hoverizons set up sevent we got something yesterday from Comcast 0:13:39.200 --> 0:13:42.920 talking about WiFi access. And so the question is just 0:13:43.000 --> 0:13:45.800 what are people doing with the Internet, And the answer 0:13:45.920 --> 0:13:48.400 is obviously they're watching a lot of video and they're 0:13:48.440 --> 0:13:50.400 playing a lot of games. I mean, Spotify just said 0:13:50.440 --> 0:13:54.040 their usages up. People are just entertaining themselves in place. 0:13:54.600 --> 0:13:58.840 Games are the most likely, you know, beneficiary of this. 0:13:59.320 --> 0:14:00.800 You can do it on mobile, you can do it 0:14:00.840 --> 0:14:02.480 on tablets, you can do it on your TV, and 0:14:02.559 --> 0:14:05.240 people are doing that. So are the supplies there to 0:14:05.280 --> 0:14:08.480 meet the demand? The telegraph how to report that, whether 0:14:08.520 --> 0:14:11.280 it's the UK or the US, there's definitely you know, 0:14:11.520 --> 0:14:15.439 people are out there doing you know, and playing video games. 0:14:16.000 --> 0:14:18.760 It's a great escape right now, especially those are you know, 0:14:19.160 --> 0:14:22.040 feeling isolated from the rest of the world or from others. 0:14:22.120 --> 0:14:25.680 And the thing is the demand. Some of the consoles 0:14:25.680 --> 0:14:28.760 are completely sold out, so I'm just curious about supply. Yeah, 0:14:28.880 --> 0:14:32.440 Nintendo Switch is the one that's impossible to get. And 0:14:32.640 --> 0:14:36.480 you know, obviously they didn't plan for a pandemic, but 0:14:36.560 --> 0:14:39.760 they launched a game called Animal Crossing, which is actually 0:14:39.800 --> 0:14:42.160 pretty much a single player game, really fun though. It's 0:14:42.160 --> 0:14:45.200 like a life simulation. You farm and you trade, and 0:14:45.560 --> 0:14:47.560 it's a it's a really really fun game. So that 0:14:47.760 --> 0:14:49.600 sales of that game we're off the charts, and people 0:14:49.640 --> 0:14:52.320 are trying to get their hands on switches, and I 0:14:52.360 --> 0:14:56.720 frankly think that's because there's a big demand for kids. 0:14:57.360 --> 0:15:00.840 Uh you know, adults probably can and play on PC 0:15:00.960 --> 0:15:03.840 or phone or they have consoles. Um you're not seeing 0:15:04.080 --> 0:15:06.600 xboxes and PlayStation sold out though, so the switch is 0:15:06.640 --> 0:15:09.920 really benefiting just because it's you know, the hot item 0:15:10.040 --> 0:15:13.120 right now and they have the higher game. Well. It's 0:15:13.120 --> 0:15:17.200 also interesting, you know, you mentioned PCs because a lot 0:15:17.280 --> 0:15:19.520 of people, and I think Carol and I are both 0:15:19.520 --> 0:15:22.360 in this category, not the gamer category, but more the 0:15:23.000 --> 0:15:25.600 a lot of folks are sort of amping up their 0:15:25.640 --> 0:15:27.880 work from home sort of set ups. I mean, I know, 0:15:28.000 --> 0:15:31.760 we boosted our internet speed just to deal not only 0:15:31.840 --> 0:15:35.280 with my needs broadcasting the show, but also in anticipation 0:15:35.400 --> 0:15:38.720 more streaming and other things that the kids are doing 0:15:38.880 --> 0:15:41.880 with their schoolwork and things like that. So I do 0:15:41.960 --> 0:15:45.000 wonder how that plays through, especially the PC gaming part 0:15:45.040 --> 0:15:49.440 of the equation. UM PC gamers total about four million 0:15:49.480 --> 0:15:53.080 people total, and that's a lot um console gamers, more 0:15:53.160 --> 0:15:56.520 like two fifty million interesting mobile mobile gamers one point 0:15:56.520 --> 0:16:01.560 five billion, so you know, the most frequently used device 0:16:01.640 --> 0:16:04.760 as a mobile phone. And you can play games like 0:16:04.840 --> 0:16:08.440 Candy Crush on your tablet as well PC. You know, 0:16:08.520 --> 0:16:12.160 the dominant games or games like Fortnite, League of Legends, 0:16:12.200 --> 0:16:14.040 you know, so those are those are games that people 0:16:14.080 --> 0:16:16.840 play all the time. Console tends to be things like 0:16:16.960 --> 0:16:21.120 Madden and FIFA and Call of Duty, So different types 0:16:21.160 --> 0:16:23.640 of experiences, and I think the right analogy is like 0:16:23.760 --> 0:16:26.640 going to a movie theater to see a feature link film. 0:16:26.800 --> 0:16:30.080 You know, that's what a console game is, and watching 0:16:30.120 --> 0:16:32.360 a YouTube video is what a mobile game is like. 0:16:32.480 --> 0:16:35.760 So you know, they're they're different types of activity for 0:16:35.880 --> 0:16:40.000 different types of devices, but all really engaging, and you 0:16:40.040 --> 0:16:43.240 know people play them all day long. Is it too early, though, 0:16:43.320 --> 0:16:46.720 to to make some investment calls based on what's happening now? 0:16:46.800 --> 0:16:50.000 Does it make any sense to even think about that 0:16:50.080 --> 0:16:54.520 at this point? Michael, it's I mean beyond the pandemic. 0:16:54.560 --> 0:16:56.760 I mean, the pandemic is clearly going to drive up 0:16:57.080 --> 0:16:59.480 the use case for you know, the month of March 0:16:59.560 --> 0:17:02.520 and probably believe for the entire June quarter. Um, you'll 0:17:02.560 --> 0:17:05.919 probably see some people one over permanently. So you're going 0:17:05.960 --> 0:17:09.000 to get some people who weren't really gamers before who 0:17:09.080 --> 0:17:11.960 find it. You know, this activity is really enjoyable. Um. 0:17:12.000 --> 0:17:15.439 I actually think that we're on the verge of expanding 0:17:15.440 --> 0:17:21.240 the market just remarkably by streaming games. And that's Google's 0:17:21.280 --> 0:17:25.000 offering something called Stadia. I think Amazon's going going to 0:17:25.119 --> 0:17:27.960 enter the fray. Microsoft and Sony each have products that 0:17:28.040 --> 0:17:30.480 allow you to play games on any device without a 0:17:30.480 --> 0:17:33.720 console or a PC. When that happens, and I think 0:17:33.760 --> 0:17:36.920 that starts this fall, and I think it grows over 0:17:36.960 --> 0:17:40.080 the next five to seven years, it should double or 0:17:40.200 --> 0:17:44.119 triple demand for the content. So anybody who's got content 0:17:44.280 --> 0:17:48.240 is a beneficiary. Anybody who makes peripherals, you know, controllers 0:17:48.320 --> 0:17:52.280 or keyboards is a beneficiary. And you know, we're we're 0:17:52.320 --> 0:17:54.879 working with an et F called gamer g a m 0:17:55.040 --> 0:17:58.520 R that's ninety some odd stocks in the video game 0:17:58.560 --> 0:18:02.040 and video game technology s. That's the pure play, that's 0:18:02.040 --> 0:18:04.040 the easiest way to play it. You're going to get 0:18:04.040 --> 0:18:08.879 exposure across border, across industries to a demographic that's going 0:18:08.920 --> 0:18:12.720 to expand a lot right, Embracer, you've got Zinga, You've 0:18:12.720 --> 0:18:15.479 got Glue Mobile, You've got all the names in there. Well, 0:18:15.520 --> 0:18:19.560 because also everybody other other than you know, big big, 0:18:19.600 --> 0:18:22.400 big companies like Google where gaming is not a big 0:18:22.440 --> 0:18:27.000 piece of their business but will be someday. Amazon, same thing, um. 0:18:27.040 --> 0:18:29.680 But short of that, yes, you've got all the publishers, 0:18:29.720 --> 0:18:33.119 all the device makers, um, all the pure play mobile 0:18:33.160 --> 0:18:36.440 guys well, and even I believe, and keep me honest here, Michael, 0:18:36.560 --> 0:18:39.800 some of the semiconductor companies too. And we talk about 0:18:39.800 --> 0:18:43.679 that with our inside our internal research analyists all the 0:18:43.720 --> 0:18:46.280 time about how when you look at the videos and 0:18:46.320 --> 0:18:49.920 others of the world, so much demand it seems these days. 0:18:49.960 --> 0:18:51.879 And I guess this was both on the PC and 0:18:51.920 --> 0:18:55.439 the and the console side, uh is especially you know 0:18:55.520 --> 0:18:58.760 there's some there's some semiconductor demand that is driven by 0:18:58.800 --> 0:19:02.719 gaming right relutely. And you know in video in particular. Um, 0:19:02.800 --> 0:19:05.240 they make the high end graphics cards. So you know 0:19:05.320 --> 0:19:09.600 that four million PC gamers they need in video cards, 0:19:10.440 --> 0:19:14.959 million console players they need in video cards. All right, Well, 0:19:15.000 --> 0:19:18.080 thank you so much. We really appreciate it. Great context, 0:19:18.200 --> 0:19:20.240 and you know one of those things that totally makes 0:19:20.280 --> 0:19:23.160 sense when you think about how people are acting during 0:19:23.400 --> 0:19:27.520 this very unusual period. Michael Pactor is video game technology 0:19:27.520 --> 0:19:30.240 analysts for web Bush Securities. Joinius on the phone from 0:19:30.280 --> 0:19:33.120 Long Beach, California. I just think of it was mid 0:19:33.160 --> 0:19:35.440 March when we heard E three the video Game conference 0:19:35.480 --> 0:19:38.560 was canceled because of coronavirus fears, and it made me. 0:19:38.680 --> 0:19:40.879 You know, that was one of the things, along with 0:19:40.880 --> 0:19:43.640 the sports events, when all of these things started being canceled, 0:19:43.640 --> 0:19:47.080 because that's a huge event, so crucial to the industry, 0:19:47.119 --> 0:19:49.440 but just a reminder of the lockdown that we would 0:19:49.520 --> 0:19:52.720 soon all be facing as the world and certainly the 0:19:52.760 --> 0:19:54.919 nation as we know it was shutting down. It was 0:19:54.920 --> 0:19:57.119 like a hundred years ago. That's why I had to 0:19:57.119 --> 0:20:06.080 look back, and it was March eleventh, brother journal. Yeah, 0:20:06.160 --> 0:20:08.160 but you let me drive? Oh no, no, no, no, 0:20:08.240 --> 0:20:14.040 who's honey? Please, I'll do the body. Let me. I 0:20:14.119 --> 0:20:23.760 want to drive all Just drive, baby, good questions, keep drying. 0:20:29.320 --> 0:20:32.640 This is the drive to the Globe Commune to thanks, 0:20:32.640 --> 0:20:38.399 we'll drive us on Bloomberg Radio. All right, let's check 0:20:38.440 --> 0:20:40.760 in for the drive to close with her old pal 0:20:40.800 --> 0:20:44.320 Allan's AFRON founding partner and Cosey of I e Q Capital. 0:20:44.720 --> 0:20:48.479 Johnny is on the phone from Foster City, California, while Alan, 0:20:48.880 --> 0:20:50.480 the last time we talked to you is a very 0:20:50.520 --> 0:20:55.120 different time, and I do wonder in the interim, Uh, 0:20:55.359 --> 0:20:58.000 what's been going on? How are you feeling, has your 0:20:58.040 --> 0:21:01.000 family doing? What's it like? Uh in your neighborhood, in 0:21:01.040 --> 0:21:05.800 your town, Jason, we're home sheltering. I gotta tell you, 0:21:05.920 --> 0:21:10.320 we're living. Uh. It's kind of interesting because what you 0:21:10.359 --> 0:21:14.600 watch on television, what you hear, is absolutely terrible. But 0:21:14.720 --> 0:21:17.760 you're sitting in your home, you're with your family. Um, 0:21:17.960 --> 0:21:20.320 when this is all said and done, it's a it's 0:21:20.359 --> 0:21:24.520 a horrible health crisis, it's a horrible economic event. In 0:21:24.560 --> 0:21:27.440 the eyes of an eight year old, playing board games 0:21:27.440 --> 0:21:29.960 and having family meals at home, as long as they're safe, 0:21:30.160 --> 0:21:32.920 you're you're in an affluent area like Foster City, might 0:21:32.960 --> 0:21:35.080 be the best time of their life. So it's that 0:21:35.080 --> 0:21:38.399 that's the silver lining on what's clearly a dark cloud. 0:21:38.480 --> 0:21:41.960 But I can tell you people are anxious and this event, 0:21:42.080 --> 0:21:44.640 this event, Jason, is so different than I think about 0:21:44.640 --> 0:21:48.200 two thousand and eight, because it's personal. It's personal. It's 0:21:48.240 --> 0:21:51.760 affecting everybody directly, and people know people who are being 0:21:52.080 --> 0:21:54.760 adversely impacted health wise too, and that's what makes this 0:21:54.800 --> 0:21:57.560 one really difficult. Well, and you know it's funny, not 0:21:57.640 --> 0:21:59.760 so funny, but you know, we've been having discussions about 0:21:59.760 --> 0:22:03.520 the the longer lasting impact of the virus. And I 0:22:03.560 --> 0:22:07.359 do wonder whether it's in you know, telemedicine, or whether 0:22:07.400 --> 0:22:10.080 it's online learning, or I don't know even you know, 0:22:10.119 --> 0:22:12.800 we're all a lot of us are working from home. 0:22:13.080 --> 0:22:15.719