1 00:00:10,800 --> 00:00:14,680 Speaker 1: Hello, and welcome to another episode of the Odd Lots Podcast. 2 00:00:14,720 --> 00:00:18,919 Speaker 1: I'm Joe wisen Phal and I'm Tracy Allaway. Tracy, So 3 00:00:19,200 --> 00:00:24,959 Speaker 1: obviously on this podcast we speak with mostly I would say, 4 00:00:25,120 --> 00:00:30,000 Speaker 1: either economists or sort of like market practitioners in one 5 00:00:30,040 --> 00:00:33,479 Speaker 1: way or another, traders, investors and so forth. Yeah, or 6 00:00:33,560 --> 00:00:38,320 Speaker 1: some policymakers. Sometimes that's true. We also speak with policymakers. 7 00:00:38,520 --> 00:00:41,440 Speaker 1: But it's interesting because I realized, like, we don't really 8 00:00:41,680 --> 00:00:44,479 Speaker 1: and maybe we should fix it, maybe we should address it. 9 00:00:44,800 --> 00:00:47,559 Speaker 1: We don't really speak with that many people who are 10 00:00:47,600 --> 00:00:51,879 Speaker 1: actually engaged in sort of what people would call business, 11 00:00:51,920 --> 00:00:55,960 Speaker 1: I mean trading, investing, building, you know, fintech companies, etcetera. 12 00:00:56,000 --> 00:00:58,120 Speaker 1: As a business, but in terms of the day to 13 00:00:58,240 --> 00:01:04,679 Speaker 1: day business of running actual things, consumer operations, making payroll 14 00:01:05,200 --> 00:01:09,000 Speaker 1: in a crisis that has not been typically a sort 15 00:01:09,000 --> 00:01:11,640 Speaker 1: of a big area for us. No, we sort of 16 00:01:11,640 --> 00:01:15,120 Speaker 1: talk about the economy from a theoretical level, and of 17 00:01:15,160 --> 00:01:19,000 Speaker 1: course the economy is comprised of people and businesses, and 18 00:01:19,080 --> 00:01:22,119 Speaker 1: you know, people who run businesses, and we probably should 19 00:01:22,120 --> 00:01:25,240 Speaker 1: be talking to them, and especially right now, of course, 20 00:01:25,720 --> 00:01:28,080 Speaker 1: in the midst of this crisis, because again, you know, 21 00:01:28,120 --> 00:01:31,399 Speaker 1: we talked about all these things like payroll protection policies 22 00:01:31,440 --> 00:01:34,560 Speaker 1: and what kind of stimulus would be good to get 23 00:01:34,600 --> 00:01:41,080 Speaker 1: the economy roaring again once the acute health crisis passes. Um. 24 00:01:41,160 --> 00:01:43,880 Speaker 1: But again, you know, there are people who actually have 25 00:01:43,920 --> 00:01:45,800 Speaker 1: to make the decisions. People actually have to go out 26 00:01:45,800 --> 00:01:47,760 Speaker 1: and hire people who have to go out and sort 27 00:01:47,800 --> 00:01:53,360 Speaker 1: of reinvest in new things in the world. And obviously 28 00:01:53,760 --> 00:01:56,600 Speaker 1: the degree to which they're inclined to do that is 29 00:01:56,640 --> 00:02:01,120 Speaker 1: going to be quite determinative of what kind of recovery 30 00:02:01,160 --> 00:02:04,800 Speaker 1: we can expect to see. Yeah. Absolutely, So we were 31 00:02:04,840 --> 00:02:09,040 Speaker 1: talking to a business person today, we are we're talking 32 00:02:09,080 --> 00:02:11,520 Speaker 1: to We're gonna talk to a very well known business 33 00:02:11,520 --> 00:02:15,679 Speaker 1: person today, a very outspoken person. UM, someone who is 34 00:02:15,720 --> 00:02:19,800 Speaker 1: sort of had lots of thoughts on policy, all kinds 35 00:02:19,800 --> 00:02:24,040 Speaker 1: of things related to the crisis and so forth. No 36 00:02:24,040 --> 00:02:27,760 Speaker 1: no reason to have any spoilers or further clearing. We're 37 00:02:27,760 --> 00:02:30,760 Speaker 1: going to be speaking today with Mark Cuban. He is 38 00:02:30,800 --> 00:02:34,840 Speaker 1: the owner of the NBA team, the Dallas Mavericks. Lots 39 00:02:34,840 --> 00:02:37,720 Speaker 1: of people know him from the show Shark Tank and 40 00:02:37,880 --> 00:02:43,120 Speaker 1: his investing in startups. Very active on Twitter and social 41 00:02:43,160 --> 00:02:46,399 Speaker 1: media in terms of fleshing out and sounding out policies 42 00:02:47,280 --> 00:02:50,919 Speaker 1: right now during this crisis. Also someone who people suspect 43 00:02:51,040 --> 00:02:54,920 Speaker 1: may have political ambitions of his own one day, um, 44 00:02:55,040 --> 00:02:59,959 Speaker 1: and so sort of great person to discuss everything that's 45 00:03:00,080 --> 00:03:03,239 Speaker 1: going up right now. I would like to preface this 46 00:03:03,560 --> 00:03:07,440 Speaker 1: entire interview by saying that I know nothing about basketball 47 00:03:07,600 --> 00:03:11,760 Speaker 1: or the NBA, but I'm going to try really really hard. Alright, Well, 48 00:03:11,840 --> 00:03:14,320 Speaker 1: let's bring in Mark Mark. Thank you very much for 49 00:03:14,400 --> 00:03:17,720 Speaker 1: joining us. Mark, what's the deal? Tracy was just asking 50 00:03:17,760 --> 00:03:20,160 Speaker 1: this on Twitter? Can you give us the thirty second 51 00:03:20,160 --> 00:03:23,560 Speaker 1: explanation of how the the NBA salary cap works? Tracy 52 00:03:23,639 --> 00:03:27,600 Speaker 1: was trying to cram doing some homework before the podcast, 53 00:03:27,680 --> 00:03:29,520 Speaker 1: and so it's like, how does that work? She wants 54 00:03:29,560 --> 00:03:33,200 Speaker 1: to know. I'd rather calculate PI digits try to explain 55 00:03:33,240 --> 00:03:36,360 Speaker 1: this salad cap. Okay, well, fair enough anyway, thank you 56 00:03:36,440 --> 00:03:39,400 Speaker 1: for joining us, as we've been doing throughout all of 57 00:03:39,440 --> 00:03:42,840 Speaker 1: our episodes, UM during this crisis. I want to make 58 00:03:42,880 --> 00:03:45,760 Speaker 1: a note that it is May twelve today, and the 59 00:03:45,800 --> 00:03:48,440 Speaker 1: reason that's important is because who knows how the world 60 00:03:48,440 --> 00:03:50,960 Speaker 1: will look in a few days when this comes out, 61 00:03:51,320 --> 00:03:54,320 Speaker 1: but it is here. We are May twelve, about really 62 00:03:55,120 --> 00:03:59,280 Speaker 1: two months into this crisis in its most intense form, 63 00:03:59,280 --> 00:04:01,520 Speaker 1: because it was actually or to eleventh, the day that 64 00:04:01,600 --> 00:04:06,080 Speaker 1: the NBA was canceled, so two months in mark. Just 65 00:04:06,240 --> 00:04:08,840 Speaker 1: from your perspective, all the different things you're involved in, 66 00:04:09,360 --> 00:04:11,800 Speaker 1: how does the world look to you right now? Sort 67 00:04:11,800 --> 00:04:15,040 Speaker 1: of big picture and with the businesses that you operate 68 00:04:15,080 --> 00:04:21,760 Speaker 1: and invest in, uncertain, confused, hope, you know, cautiously, hopeful, 69 00:04:22,320 --> 00:04:25,400 Speaker 1: looking for guidance, looking for leadership. We just don't know 70 00:04:25,440 --> 00:04:29,400 Speaker 1: who to trust with our lives effectively, and that's keeping 71 00:04:29,440 --> 00:04:32,720 Speaker 1: people from doing things the way we've always done them. 72 00:04:32,800 --> 00:04:36,640 Speaker 1: So you invest in a lot of small businesses, could 73 00:04:36,640 --> 00:04:40,400 Speaker 1: you maybe give some specifics about how your portfolio companies 74 00:04:40,440 --> 00:04:43,440 Speaker 1: are getting impacted right now? What are the biggest problems 75 00:04:43,640 --> 00:04:46,520 Speaker 1: that they're currently facing. The biggest problem is that the 76 00:04:46,600 --> 00:04:50,480 Speaker 1: falling demand. You know, there's just people are are very 77 00:04:50,520 --> 00:04:53,400 Speaker 1: hesitant when it comes to buying products and services right 78 00:04:53,440 --> 00:04:58,080 Speaker 1: now unless they're related to things you can store in 79 00:04:58,160 --> 00:05:01,839 Speaker 1: your home. You know, the companies I have that are 80 00:05:01,880 --> 00:05:06,160 Speaker 1: selling athletic equipment, you know, those are doing well. Companies 81 00:05:06,200 --> 00:05:10,680 Speaker 1: that are selling food products, those are doing well. Companies 82 00:05:10,839 --> 00:05:13,680 Speaker 1: that are selling pretty much everything else are not for 83 00:05:13,880 --> 00:05:17,400 Speaker 1: their their businesses down. It's some percentage, and so you know, 84 00:05:17,520 --> 00:05:21,359 Speaker 1: people trying to get we're trying to gauge when consumer 85 00:05:21,400 --> 00:05:25,040 Speaker 1: demand will come back, and that's the most difficult aspect 86 00:05:25,080 --> 00:05:29,520 Speaker 1: of trying to figure out what's next. So how in 87 00:05:29,560 --> 00:05:33,680 Speaker 1: your review, what's been done from the you know, sitting aside, 88 00:05:34,200 --> 00:05:37,360 Speaker 1: what the right approach to the health crisis is. We've 89 00:05:37,400 --> 00:05:40,280 Speaker 1: seen We saw the Care's Package passed at the end 90 00:05:40,320 --> 00:05:43,799 Speaker 1: of March with the idea of helping at least small 91 00:05:43,839 --> 00:05:48,000 Speaker 1: businesses keep employees on their payroll to not to prevent 92 00:05:48,000 --> 00:05:50,919 Speaker 1: the unemployment crisis from getting worse, and for people to 93 00:05:51,000 --> 00:05:54,760 Speaker 1: have businesses to be to go back to work too 94 00:05:54,960 --> 00:05:57,680 Speaker 1: when the health crisis lives. I've also seen a range 95 00:05:57,720 --> 00:06:01,280 Speaker 1: of things from the Fed. In your you how effective 96 00:06:01,360 --> 00:06:05,240 Speaker 1: have those measures been at least dampening the pain from 97 00:06:05,240 --> 00:06:09,440 Speaker 1: this summer some to some extent, you know, I'll refer 98 00:06:09,480 --> 00:06:11,839 Speaker 1: to Mike Tyson who said everybody's got a plan until 99 00:06:11,839 --> 00:06:15,160 Speaker 1: they get punched in the mouth, right, and the Care's 100 00:06:15,200 --> 00:06:19,560 Speaker 1: package um that the plan was great. The initial timing 101 00:06:19,680 --> 00:06:22,679 Speaker 1: of it was great. It was it happened very quickly. 102 00:06:23,400 --> 00:06:28,680 Speaker 1: The implementation was was too slow, and so when we got, 103 00:06:28,800 --> 00:06:30,960 Speaker 1: you know, the day the NBA was canceled March eleven, 104 00:06:31,520 --> 00:06:35,560 Speaker 1: and people started really realizing that there were issues that 105 00:06:35,640 --> 00:06:37,839 Speaker 1: we were going to have to address from a health perspective. 106 00:06:38,400 --> 00:06:41,400 Speaker 1: And then, you know, relatively quickly for Congress, you know, 107 00:06:41,480 --> 00:06:45,000 Speaker 1: the beginning of April, we had a Care's Act for stimulus. 108 00:06:45,040 --> 00:06:48,599 Speaker 1: But unfortunately, from that point in time till the time 109 00:06:49,200 --> 00:06:53,520 Speaker 1: small businesses, small medium sized businesses actually got funding was 110 00:06:53,600 --> 00:06:57,400 Speaker 1: several weeks. Add to that the fact that there wasn't 111 00:06:57,520 --> 00:06:59,919 Speaker 1: enough money. Add to that the fact that there was 112 00:07:00,080 --> 00:07:02,960 Speaker 1: uncertainty about how the money can or should be spent 113 00:07:03,360 --> 00:07:07,400 Speaker 1: and what would be the case for forgiveness, and that 114 00:07:07,600 --> 00:07:11,400 Speaker 1: caused a lot of small businesses to hesitate, and that 115 00:07:11,480 --> 00:07:15,080 Speaker 1: led to a scenario where, you know, a month in 116 00:07:15,400 --> 00:07:19,480 Speaker 1: a month after the CARES stimulus was passed, businesses really 117 00:07:19,520 --> 00:07:22,840 Speaker 1: weren't able to take the steps necessary to try to 118 00:07:22,880 --> 00:07:26,760 Speaker 1: continue as much business as usual, and that really created 119 00:07:27,200 --> 00:07:29,960 Speaker 1: cascading negative effect that we're he's still in right now. 120 00:07:30,360 --> 00:07:33,360 Speaker 1: So the concept was good, the plan was good, but 121 00:07:33,520 --> 00:07:35,840 Speaker 1: the virus punched us in the mouth and the execution 122 00:07:35,960 --> 00:07:39,480 Speaker 1: wasn't near where it needed to be. I'm just curious, 123 00:07:39,520 --> 00:07:42,760 Speaker 1: but if you were designing a sort of stimulus or 124 00:07:42,880 --> 00:07:46,679 Speaker 1: policy package to help small businesses in the current crisis, 125 00:07:46,880 --> 00:07:49,720 Speaker 1: what would it look like? So to two questions there, one, 126 00:07:49,840 --> 00:07:52,480 Speaker 1: what would I have done April one? And the answer 127 00:07:52,480 --> 00:07:56,360 Speaker 1: to that would I would have a bank overdraft program 128 00:07:56,400 --> 00:07:59,160 Speaker 1: where I would have allowed small medium sized businesses to 129 00:07:59,680 --> 00:08:02,920 Speaker 1: just right checks without them bouncing. So that and then 130 00:08:02,960 --> 00:08:05,160 Speaker 1: the FED would make the banks whole on a daily 131 00:08:05,200 --> 00:08:08,640 Speaker 1: basis because that would have allowed companies to continue business 132 00:08:08,640 --> 00:08:12,080 Speaker 1: as usual, and banks understood what they're spending policies were 133 00:08:12,120 --> 00:08:14,840 Speaker 1: because they see all their bank statements and banks already 134 00:08:14,840 --> 00:08:17,800 Speaker 1: have products um parameters in place, So it would have 135 00:08:17,840 --> 00:08:22,160 Speaker 1: been the the approach that had the least amount of friction. 136 00:08:22,600 --> 00:08:24,600 Speaker 1: But that you know, that's April one. Here we are 137 00:08:24,680 --> 00:08:28,320 Speaker 1: made twelve six weeks later, and we're in a different 138 00:08:28,360 --> 00:08:32,600 Speaker 1: set of circumstances, and so now we've got to take 139 00:08:32,679 --> 00:08:35,600 Speaker 1: we we've got to look at the consumer demand function 140 00:08:35,960 --> 00:08:38,719 Speaker 1: as opposed to the continuity function that we're looking at 141 00:08:38,840 --> 00:08:42,560 Speaker 1: on April one. And for consumer demands, it goes to 142 00:08:42,760 --> 00:08:46,520 Speaker 1: the whole concept of how do we build confidence, How 143 00:08:46,520 --> 00:08:48,720 Speaker 1: do we give consumers confidence that they're going to be 144 00:08:48,720 --> 00:08:51,000 Speaker 1: able to retain their jobs, that they're gonna be able 145 00:08:51,040 --> 00:08:54,000 Speaker 1: to keep their salaries at the current level, and that 146 00:08:54,800 --> 00:08:57,680 Speaker 1: that in turn will lead to the confidence to spend 147 00:08:57,720 --> 00:09:01,320 Speaker 1: money on things rather than just on things other than 148 00:09:01,400 --> 00:09:05,839 Speaker 1: just necessities, rather than spending just on rent, utilities, food, 149 00:09:05,920 --> 00:09:09,199 Speaker 1: the basics, and then saving everything else. And to do that, 150 00:09:09,280 --> 00:09:11,959 Speaker 1: you're gonna need a federal jobs program. I want to 151 00:09:12,000 --> 00:09:14,640 Speaker 1: get to that federal jobs program in one second. Just 152 00:09:14,679 --> 00:09:17,720 Speaker 1: a real quick question, though, I really am interested in 153 00:09:17,840 --> 00:09:20,960 Speaker 1: that idea of just sort of make it simple, payroll overdraft, 154 00:09:21,040 --> 00:09:25,040 Speaker 1: let people continue, let companies continue to spend and pay 155 00:09:25,080 --> 00:09:28,319 Speaker 1: their employees at the level that they were pre crisis. 156 00:09:28,559 --> 00:09:31,920 Speaker 1: Would that be ideally a program that would apply even 157 00:09:31,960 --> 00:09:35,240 Speaker 1: to companies that are larger than the small businesses covered 158 00:09:35,280 --> 00:09:37,840 Speaker 1: by the p p P. I mean, you'd have to 159 00:09:37,840 --> 00:09:40,080 Speaker 1: model it out and do the map, but effectively it 160 00:09:40,120 --> 00:09:43,920 Speaker 1: could be right because the key, you know, and but 161 00:09:43,960 --> 00:09:47,680 Speaker 1: again hindsight is always twenty um and so the key 162 00:09:48,120 --> 00:09:50,600 Speaker 1: was continuity. Right, what was the path through at least 163 00:09:50,600 --> 00:09:53,120 Speaker 1: resistance to allow businesses of and it could have been 164 00:09:53,120 --> 00:09:56,320 Speaker 1: of any size, to continue working as they were now. 165 00:09:56,559 --> 00:10:00,439 Speaker 1: The question I would have added then is if we 166 00:10:00,440 --> 00:10:03,720 Speaker 1: were going to be supporting bigger companies, you know, companies 167 00:10:03,720 --> 00:10:05,880 Speaker 1: that had more than five hund employed, some companies that 168 00:10:05,960 --> 00:10:09,280 Speaker 1: may be public entities. You know, what would I do 169 00:10:09,320 --> 00:10:13,160 Speaker 1: as the negotiator for the taxpayers and those circumstances, And 170 00:10:13,200 --> 00:10:15,960 Speaker 1: I probably would have asked for something in return for 171 00:10:16,000 --> 00:10:20,240 Speaker 1: that overdraft protection, because larger companies typically have other means 172 00:10:20,280 --> 00:10:23,240 Speaker 1: of raising capital. They have stronger balance sheets, they have 173 00:10:23,640 --> 00:10:25,720 Speaker 1: you know, they may have public stock. You know, they 174 00:10:25,760 --> 00:10:29,480 Speaker 1: may be able to to um get loans from banks 175 00:10:29,760 --> 00:10:32,400 Speaker 1: or from the public markets, And so I would have 176 00:10:32,720 --> 00:10:37,000 Speaker 1: tried to negotiate something for the taxpayers in response. So 177 00:10:37,640 --> 00:10:42,120 Speaker 1: just going to the Federal Jobs um guarantee idea of 178 00:10:42,200 --> 00:10:45,360 Speaker 1: the Federal jobs program, it's kind of unusual to hear 179 00:10:45,400 --> 00:10:48,320 Speaker 1: someone from the private sector, someone who invested in a 180 00:10:48,320 --> 00:10:51,800 Speaker 1: lot of different types of businesses, actually advocate for that. 181 00:10:51,920 --> 00:10:56,320 Speaker 1: And usually, you know, private businesses don't really want the 182 00:10:56,360 --> 00:10:58,679 Speaker 1: government to get too involved in the labor market because 183 00:10:58,679 --> 00:11:03,160 Speaker 1: then they're basically competing with the government for labor. Give 184 00:11:03,240 --> 00:11:04,920 Speaker 1: us a sense of why you're in favor of this, 185 00:11:05,080 --> 00:11:08,199 Speaker 1: why why does it interest you As a long time 186 00:11:08,360 --> 00:11:12,839 Speaker 1: fan of iron Ran, It's it's very counter who I am, 187 00:11:13,080 --> 00:11:15,720 Speaker 1: but I didn't know that. Yeah, um. And I'm not 188 00:11:15,840 --> 00:11:18,320 Speaker 1: an objectivist type. You know, I'm not an all in. 189 00:11:18,600 --> 00:11:22,920 Speaker 1: Um I've I've modified my positions over time. But we're 190 00:11:22,920 --> 00:11:26,080 Speaker 1: in a unique circumstance never in the history of this country, 191 00:11:26,559 --> 00:11:29,360 Speaker 1: UM or any you know, advanced economies. If we've seen 192 00:11:29,760 --> 00:11:33,240 Speaker 1: the loss of more than thirty million jobs in a 193 00:11:33,280 --> 00:11:36,080 Speaker 1: period of two months, and you know, you can add 194 00:11:36,120 --> 00:11:39,679 Speaker 1: to that the underemployed on the uncertainty of employment for 195 00:11:39,760 --> 00:11:42,960 Speaker 1: another twenty plus million. So we've got fifty million people 196 00:11:42,960 --> 00:11:45,600 Speaker 1: who have job uncertainty or have no jobs at all. 197 00:11:46,120 --> 00:11:50,560 Speaker 1: And that's what changes my perspective. And with that, we've 198 00:11:50,559 --> 00:11:53,320 Speaker 1: got the p p P program, and we've got other 199 00:11:53,400 --> 00:11:56,600 Speaker 1: potential programs coming from the government. You know, the Democrats 200 00:11:56,600 --> 00:11:59,800 Speaker 1: are starting to propose some new things now, but those 201 00:12:00,080 --> 00:12:03,000 Speaker 1: are kind of putting businesses in a state of suspended animation. 202 00:12:03,480 --> 00:12:05,199 Speaker 1: You know, they're not quite sure how to spend the 203 00:12:05,240 --> 00:12:09,480 Speaker 1: PPP money because they're continent catch twenty two of You know, 204 00:12:09,520 --> 00:12:11,560 Speaker 1: I have to spend this in eight weeks and bring 205 00:12:11,559 --> 00:12:14,559 Speaker 1: back all my employees within that eight week term if 206 00:12:14,559 --> 00:12:17,560 Speaker 1: I want this loan forgiven. But my state isn't even 207 00:12:17,600 --> 00:12:20,440 Speaker 1: allowing me to open up or open up fully, which 208 00:12:20,480 --> 00:12:22,360 Speaker 1: I think in a lot of cases is smart. But 209 00:12:22,480 --> 00:12:25,679 Speaker 1: it's just a set of circumstances businesses are facing, so 210 00:12:25,760 --> 00:12:29,040 Speaker 1: they're in a in a state of suspended animation. The 211 00:12:29,160 --> 00:12:32,320 Speaker 1: Jobs Program, on the other hand, gets the ball rolling 212 00:12:32,400 --> 00:12:34,920 Speaker 1: to do things that are productive that this country needs 213 00:12:35,120 --> 00:12:39,040 Speaker 1: right now. We need tracking and tracing on a federal basis, 214 00:12:39,320 --> 00:12:42,959 Speaker 1: with states and local municipalities doing tracking and tracing, that 215 00:12:43,000 --> 00:12:47,520 Speaker 1: creates siloed information because half a tracking tracing is asking 216 00:12:47,600 --> 00:12:52,000 Speaker 1: and tracking the information. The other half is doing the 217 00:12:52,040 --> 00:12:55,839 Speaker 1: technology behind the scenes to do the analytics to understand 218 00:12:55,960 --> 00:12:59,320 Speaker 1: what what we're learning from the tracking and tracing. So 219 00:12:59,600 --> 00:13:02,400 Speaker 1: that's and silo of However, many jobs on a federal 220 00:13:02,440 --> 00:13:05,400 Speaker 1: basis you could probably you know, make the case for 221 00:13:05,480 --> 00:13:08,600 Speaker 1: two million or more. Then you have the issue of testing. 222 00:13:09,000 --> 00:13:11,480 Speaker 1: You know, we've got to create the job, to create 223 00:13:11,480 --> 00:13:14,360 Speaker 1: the facilities to create the tests, and then we have 224 00:13:14,520 --> 00:13:18,640 Speaker 1: to train people and create the facilities to um enable 225 00:13:18,720 --> 00:13:21,760 Speaker 1: the tests and then offer and then do the test. 226 00:13:22,280 --> 00:13:25,640 Speaker 1: And then with all that, within this realm, there's training involved, 227 00:13:25,679 --> 00:13:27,400 Speaker 1: so there's people who will do training. You have to 228 00:13:27,440 --> 00:13:31,559 Speaker 1: make sure everybody understands HIPPI regulations, and here's the privacy concerns, 229 00:13:31,600 --> 00:13:34,840 Speaker 1: so that there's no risk there of information getting out. 230 00:13:35,240 --> 00:13:38,640 Speaker 1: And then you extend it further. We've got a growing 231 00:13:38,760 --> 00:13:43,679 Speaker 1: subset of the population that is is at risk, you know, 232 00:13:43,880 --> 00:13:46,319 Speaker 1: and it's not just the elderly, but it certainly includes 233 00:13:46,360 --> 00:13:49,640 Speaker 1: the elderly, but there's you know, people with issues now 234 00:13:49,720 --> 00:13:52,000 Speaker 1: whether you know, we're we're finding out new and new 235 00:13:52,040 --> 00:13:55,240 Speaker 1: problems that the COVID creates, and so all these pre 236 00:13:55,320 --> 00:13:59,040 Speaker 1: existing conditions. We have to have people who support those folks. 237 00:13:59,120 --> 00:14:01,280 Speaker 1: And so we've all already even prior to this, we're 238 00:14:01,280 --> 00:14:03,760 Speaker 1: in a scenario where we did have a lot enough 239 00:14:03,800 --> 00:14:08,200 Speaker 1: long term care facilities or enough long term care takers, 240 00:14:08,240 --> 00:14:12,480 Speaker 1: and so building those facilities create training those people. There's 241 00:14:12,520 --> 00:14:15,199 Speaker 1: so many jobs that could truly be productive in our 242 00:14:15,240 --> 00:14:20,480 Speaker 1: society right now immediately that can start to chip away 243 00:14:20,840 --> 00:14:24,240 Speaker 1: at the unemployment and underemployment problem we have right now. 244 00:14:24,520 --> 00:14:26,240 Speaker 1: So it makes sense to do this now. Do I 245 00:14:26,280 --> 00:14:28,960 Speaker 1: see this as a permanent long term jobs program. No, 246 00:14:29,120 --> 00:14:33,160 Speaker 1: it's intermediary, but it's needed right now because it's very 247 00:14:33,240 --> 00:14:36,000 Speaker 1: difficult for all but just a few businesses that are 248 00:14:36,040 --> 00:14:39,360 Speaker 1: doing better because of COVID to make long term or 249 00:14:39,400 --> 00:14:43,560 Speaker 1: even intermediary commitments for jobs that are productive. And so 250 00:14:44,000 --> 00:14:47,840 Speaker 1: having the federal jobs program I think is a necessity. 251 00:14:48,160 --> 00:14:50,960 Speaker 1: And do you worry that at some point, I mean 252 00:14:51,080 --> 00:14:55,280 Speaker 1: presumably Okay, so a federal jobs program of some sort 253 00:14:56,120 --> 00:14:59,440 Speaker 1: have some sort of minimum level of pay, uh, some 254 00:14:59,520 --> 00:15:04,160 Speaker 1: minimum level of benefits? Do you worry than saying, some 255 00:15:04,280 --> 00:15:07,480 Speaker 1: of the vendors who work in your stadium could be 256 00:15:07,520 --> 00:15:10,400 Speaker 1: in a situation in which they're trying to hire people 257 00:15:10,440 --> 00:15:14,880 Speaker 1: back for when the NBA reopened, and yet there's a 258 00:15:14,880 --> 00:15:18,520 Speaker 1: more compelling federal job out there that pays people more. 259 00:15:19,520 --> 00:15:22,920 Speaker 1: That's a feature not above right. I mean in my stadium, 260 00:15:23,040 --> 00:15:27,520 Speaker 1: American Life Center, we actually three years ago went through 261 00:15:27,560 --> 00:15:30,080 Speaker 1: and tried to do an analysis to make sure that 262 00:15:30,280 --> 00:15:33,200 Speaker 1: we were getting all of our employees a up to 263 00:15:33,520 --> 00:15:36,560 Speaker 1: a fifteen dollar minimum wage. And b I wanted to 264 00:15:36,600 --> 00:15:39,760 Speaker 1: know if any of my employees were receiving public benefits 265 00:15:39,760 --> 00:15:41,840 Speaker 1: because to me, that was an embarrassment if they were. 266 00:15:42,280 --> 00:15:44,480 Speaker 1: Now and I need to say that not just my employees. 267 00:15:44,520 --> 00:15:47,520 Speaker 1: I'm only fifty owner of the arena, but still I 268 00:15:47,640 --> 00:15:50,720 Speaker 1: pushed for trying to get a feel of whether or 269 00:15:50,720 --> 00:15:53,640 Speaker 1: not UM those employees were getting any type, as I said, 270 00:15:53,680 --> 00:15:57,320 Speaker 1: federal benefits, because to me, that's the ultimate socialism when 271 00:15:57,320 --> 00:16:00,880 Speaker 1: the government has to subsidize a businesses employee. And so 272 00:16:01,040 --> 00:16:04,160 Speaker 1: if the competition from the government, and let's just say 273 00:16:04,200 --> 00:16:06,400 Speaker 1: for these jobs they pay a minimum of fifteen dollars 274 00:16:06,400 --> 00:16:10,960 Speaker 1: per hour plus UM plus benefits plus healthcare, that's not 275 00:16:11,000 --> 00:16:14,040 Speaker 1: a bad thing, you know. For me, it's worse when 276 00:16:14,720 --> 00:16:19,160 Speaker 1: UM municipalities have their own UM minimum wage and states 277 00:16:19,200 --> 00:16:21,840 Speaker 1: have their own minimum wage as opposed to a higher 278 00:16:21,840 --> 00:16:25,360 Speaker 1: federal minimum wage, because then you're not on a equal 279 00:16:25,360 --> 00:16:28,800 Speaker 1: playing field. You know, if you saw in Seattle where 280 00:16:29,080 --> 00:16:31,120 Speaker 1: in one part of town they had to pay fifteen 281 00:16:31,160 --> 00:16:34,560 Speaker 1: dollars and two miles outside that part of town they 282 00:16:34,600 --> 00:16:37,520 Speaker 1: could pay far less, and that created inconsistencies and made 283 00:16:37,520 --> 00:16:40,120 Speaker 1: it tougher to compete. As long as everybody is playing 284 00:16:40,160 --> 00:16:42,360 Speaker 1: by the same rules, I'm fine with it. It's almost 285 00:16:42,760 --> 00:16:45,160 Speaker 1: you know, like what we've you know, the price of 286 00:16:45,160 --> 00:16:47,960 Speaker 1: a commodity goes up, everybody has to that's in that 287 00:16:48,040 --> 00:17:04,720 Speaker 1: business has to pay the same price. You mentioned that 288 00:17:04,800 --> 00:17:08,919 Speaker 1: you thought UM a jobs program could be intermediate or 289 00:17:08,960 --> 00:17:12,920 Speaker 1: intermediary in the sense that you know, those jobs wouldn't 290 00:17:12,960 --> 00:17:15,479 Speaker 1: last forever, and it would just be a sort of 291 00:17:15,560 --> 00:17:19,800 Speaker 1: um bridging program between the coronavirus crisis and getting somewhere 292 00:17:19,840 --> 00:17:22,919 Speaker 1: back to normal. What happens to the jobs or what 293 00:17:22,960 --> 00:17:25,280 Speaker 1: would happen to the jobs at the end of that 294 00:17:25,359 --> 00:17:27,840 Speaker 1: sort of intermediary period. And why does it have to 295 00:17:27,840 --> 00:17:33,119 Speaker 1: be intermediary at all? Well, I say intermediary because again 296 00:17:33,440 --> 00:17:37,600 Speaker 1: I'm concerned about government overreach. UM. I recognized, you know, 297 00:17:38,000 --> 00:17:39,680 Speaker 1: when you're when you're in the middle of a crisis, 298 00:17:40,040 --> 00:17:42,840 Speaker 1: things are going to be different. But I want just 299 00:17:42,920 --> 00:17:45,640 Speaker 1: I just mentioned intermediate not to say that those jobs 300 00:17:45,640 --> 00:17:48,560 Speaker 1: cannot be continued, but we just need to reevaluate at 301 00:17:48,560 --> 00:17:52,000 Speaker 1: some point. UM. And then just going back to the 302 00:17:52,080 --> 00:17:56,679 Speaker 1: discussion about wages. UM, one of the criticisms of current 303 00:17:56,720 --> 00:17:59,560 Speaker 1: policy in the crisis is that a lot of workers 304 00:17:59,560 --> 00:18:02,160 Speaker 1: were trying into and a lot of small businesses as well. 305 00:18:02,160 --> 00:18:04,399 Speaker 1: We're basically trying to figure out whether it was better 306 00:18:04,520 --> 00:18:07,359 Speaker 1: for people to stay on the payroll under p PP 307 00:18:08,160 --> 00:18:12,159 Speaker 1: or to take unemployment benefits. How do you sort of 308 00:18:12,240 --> 00:18:17,640 Speaker 1: calibrate the unemployment payment versus actual salaries. You don't It's 309 00:18:17,680 --> 00:18:20,280 Speaker 1: a real problem I mean, you've got a lot in 310 00:18:20,640 --> 00:18:23,199 Speaker 1: businesses I'm involved with as well as others, you have 311 00:18:23,240 --> 00:18:25,760 Speaker 1: employees that make a lot more money on the new 312 00:18:25,840 --> 00:18:30,520 Speaker 1: unemployment with the six enhancement then they do going back 313 00:18:30,520 --> 00:18:34,440 Speaker 1: to work. And so there the Department of Labor maybe 314 00:18:34,480 --> 00:18:38,400 Speaker 1: it was a Treasury had to literally April um issue 315 00:18:38,880 --> 00:18:43,240 Speaker 1: a letter saying that if an employer puts in writing 316 00:18:43,600 --> 00:18:47,679 Speaker 1: that they offered an employee's job back and that employee 317 00:18:47,680 --> 00:18:51,320 Speaker 1: refused because they were making more money from unemployment, then 318 00:18:51,720 --> 00:18:55,760 Speaker 1: that doesn't prevent full reimbursement under p p P for 319 00:18:55,840 --> 00:18:59,320 Speaker 1: that employer. And so you're seeing it as a real 320 00:19:00,000 --> 00:19:03,840 Speaker 1: problem because you know, you can't blame anybody for performing 321 00:19:03,920 --> 00:19:07,840 Speaker 1: the six enhancement, you know, plus the state unemployment if 322 00:19:07,920 --> 00:19:10,800 Speaker 1: that pays more than going back to work, so it's 323 00:19:10,800 --> 00:19:13,560 Speaker 1: a it's a real issue. And I think it's thirty 324 00:19:13,600 --> 00:19:16,720 Speaker 1: nine weeks for the unemployment program, so we're looking potentially 325 00:19:16,720 --> 00:19:20,400 Speaker 1: at thirty more to go. And you know, on one hand, 326 00:19:20,480 --> 00:19:23,560 Speaker 1: you can say, well, it allows people who really want 327 00:19:23,640 --> 00:19:25,840 Speaker 1: jobs to go get them because the number of people 328 00:19:25,880 --> 00:19:29,000 Speaker 1: that are competing with is reduced. But on the other hand, 329 00:19:29,280 --> 00:19:31,120 Speaker 1: at the end of that thirty weeks things can get 330 00:19:31,160 --> 00:19:35,320 Speaker 1: really bad. Mark, I wanna get your take on health policy, 331 00:19:35,400 --> 00:19:38,560 Speaker 1: because obviously, with this extraordinary I mean, this is a 332 00:19:38,600 --> 00:19:43,280 Speaker 1: health crisis first and foremost, lots of people losing their 333 00:19:43,600 --> 00:19:48,560 Speaker 1: potentially losing their employer sponsor sponsored health insurance. It's a 334 00:19:48,640 --> 00:19:53,680 Speaker 1: potential moment where the country might rethink our general approach 335 00:19:53,720 --> 00:19:56,080 Speaker 1: to healthcare. And one thing that I've heard some people 336 00:19:56,160 --> 00:20:01,439 Speaker 1: say is that if we sever the link between employee 337 00:20:01,480 --> 00:20:04,639 Speaker 1: and employer with healthcare, and perhaps more people would be 338 00:20:04,640 --> 00:20:06,720 Speaker 1: willing to take risks in their lives. Maybe they would 339 00:20:07,000 --> 00:20:09,040 Speaker 1: do a start up, they would be willing to leave 340 00:20:09,119 --> 00:20:13,560 Speaker 1: their company to do something entrepreneurial. But because of benefits 341 00:20:13,680 --> 00:20:17,280 Speaker 1: and so forth, that's a pretty dangerous jump. I'm curious 342 00:20:17,359 --> 00:20:20,960 Speaker 1: from your perspective, again, is both a large employer and 343 00:20:21,040 --> 00:20:25,000 Speaker 1: also an investor in sort of smaller companies for whom 344 00:20:25,160 --> 00:20:27,760 Speaker 1: benefits is a very big burden, perhaps a reason not 345 00:20:27,840 --> 00:20:30,640 Speaker 1: to take risks. What you think, whether you think there's 346 00:20:30,680 --> 00:20:33,440 Speaker 1: an opportunity to rethink the structure of you as healthcare, 347 00:20:34,280 --> 00:20:37,359 Speaker 1: Absolutely I think it should be rethought. I'm not a 348 00:20:37,359 --> 00:20:40,400 Speaker 1: big fan of all of most health insurance coming from 349 00:20:40,400 --> 00:20:42,960 Speaker 1: an employer. The question then, becomes how do you structure it? 350 00:20:43,359 --> 00:20:45,440 Speaker 1: You know, is a single payer? Is that, you know, 351 00:20:45,480 --> 00:20:47,560 Speaker 1: an enhancement of the A C A. You know, with 352 00:20:47,600 --> 00:20:49,679 Speaker 1: the A C A you always had that opportunity to 353 00:20:49,800 --> 00:20:53,680 Speaker 1: just buy your own healthcare through the through the program um. 354 00:20:53,720 --> 00:20:55,480 Speaker 1: And then when you look at single payer, I'm not 355 00:20:55,600 --> 00:20:57,439 Speaker 1: a fan of single payer. I'm more a fan of 356 00:20:57,480 --> 00:21:00,280 Speaker 1: a hybrid with the safety net in other is. And and 357 00:21:00,200 --> 00:21:03,080 Speaker 1: and actually I've spent more time on this than that 358 00:21:03,200 --> 00:21:06,600 Speaker 1: most people realize, you know, what I've proposed, and the 359 00:21:06,720 --> 00:21:11,480 Speaker 1: Rand Corporation is actually evaluating it um and we're reevaluating 360 00:21:11,480 --> 00:21:13,560 Speaker 1: now because the number of people who are A C 361 00:21:13,720 --> 00:21:16,880 Speaker 1: A eligible will go from forty six million to who 362 00:21:16,880 --> 00:21:19,520 Speaker 1: knows what it could be seventy six millions. But the 363 00:21:19,560 --> 00:21:21,520 Speaker 1: way I've always felt about it is I look. I 364 00:21:21,560 --> 00:21:25,560 Speaker 1: looked at the top five thousand corporations in terms of 365 00:21:25,640 --> 00:21:30,520 Speaker 1: employment and of them self ensued. And so when you 366 00:21:30,560 --> 00:21:33,359 Speaker 1: look at what the opportunities are for for this country, 367 00:21:33,560 --> 00:21:35,879 Speaker 1: I asked the question, why can't the United States of 368 00:21:35,920 --> 00:21:39,359 Speaker 1: America self ensued and why couldn't we put together a 369 00:21:39,400 --> 00:21:42,800 Speaker 1: program where at some percentage of the federal poverty level? 370 00:21:43,160 --> 00:21:47,080 Speaker 1: And I used two the only cost for any type 371 00:21:47,080 --> 00:21:51,439 Speaker 1: of healthcare would be a co pay with limits for 372 00:21:51,520 --> 00:21:54,240 Speaker 1: things where there's repetitive co pays like pregnancy and stuff 373 00:21:54,280 --> 00:21:57,800 Speaker 1: like that. And then anybody above that does pays a 374 00:21:57,880 --> 00:22:00,840 Speaker 1: means tested amount of their income for all health care, 375 00:22:01,119 --> 00:22:04,200 Speaker 1: no matter what it is, including drugs, up to ten percent. 376 00:22:04,880 --> 00:22:07,600 Speaker 1: And so when we did that, the numbers came out 377 00:22:07,680 --> 00:22:11,520 Speaker 1: and they were incredible. The users because now under the 378 00:22:11,560 --> 00:22:13,640 Speaker 1: a C and this was this was geared towards forty 379 00:22:13,720 --> 00:22:17,040 Speaker 1: six million at A potentially users, those people who prior 380 00:22:17,080 --> 00:22:18,800 Speaker 1: to COVID would have been eligible for the a C 381 00:22:18,960 --> 00:22:21,879 Speaker 1: A save sixty three billion dollars because they didn't have 382 00:22:21,920 --> 00:22:25,760 Speaker 1: to pay premiums into the system. The government themselves, the 383 00:22:25,840 --> 00:22:30,280 Speaker 1: government itself say, you know, a few billion dollars a year, 384 00:22:30,400 --> 00:22:33,760 Speaker 1: but covered all forty six million people that were eligible 385 00:22:33,760 --> 00:22:36,080 Speaker 1: instead of twelve millions that were actually using the a 386 00:22:36,240 --> 00:22:39,359 Speaker 1: C A. So long story short, you know, my my 387 00:22:39,440 --> 00:22:42,919 Speaker 1: orientation is, yes, you want to separate it um. You 388 00:22:42,920 --> 00:22:45,359 Speaker 1: want to make it those who can't afford healthcare. You 389 00:22:45,400 --> 00:22:48,000 Speaker 1: want them to have full care, you know, and only 390 00:22:48,040 --> 00:22:50,119 Speaker 1: the co pay amount. And you can argue, depending on 391 00:22:50,160 --> 00:22:52,040 Speaker 1: the savings, whether you even get rid of the co paid, 392 00:22:52,400 --> 00:22:54,879 Speaker 1: and then for everybody else who's making more than two 393 00:22:55,760 --> 00:22:58,119 Speaker 1: of the federal poverty level, you do it on a 394 00:22:58,160 --> 00:23:00,920 Speaker 1: graduated level. So no matter what the cost of your healthcare, 395 00:23:01,320 --> 00:23:03,800 Speaker 1: if you're making you know, if you're single and you're 396 00:23:03,840 --> 00:23:06,640 Speaker 1: making sixty dollars a year, I think you paid three 397 00:23:06,640 --> 00:23:08,879 Speaker 1: percent of your income. But you don't start paying that 398 00:23:08,960 --> 00:23:12,679 Speaker 1: three until you actually use the system. So one of 399 00:23:12,760 --> 00:23:15,080 Speaker 1: the the underlying challenges, and this is going to be 400 00:23:15,119 --> 00:23:19,119 Speaker 1: exasperated with COVID, is that hospitals like to pretend that 401 00:23:19,200 --> 00:23:22,520 Speaker 1: they don't know their actual costs, and so they'll put 402 00:23:22,560 --> 00:23:26,160 Speaker 1: out this information saying that for Medicare. You know, one 403 00:23:26,160 --> 00:23:29,000 Speaker 1: of their arguments against single payer Medicare for all is 404 00:23:29,040 --> 00:23:32,360 Speaker 1: that they lose nine percent on Medicare pricing and even 405 00:23:32,400 --> 00:23:35,400 Speaker 1: a little bit more on Medicaid pricing, and that's absolutely 406 00:23:35,440 --> 00:23:37,480 Speaker 1: not the case. They you know, they kind of pudge 407 00:23:37,520 --> 00:23:41,440 Speaker 1: these things called Medicare costs reports. So all this is all, 408 00:23:41,480 --> 00:23:45,639 Speaker 1: this radical change and horrific pandemic is an opportunity for 409 00:23:45,760 --> 00:23:49,840 Speaker 1: us to rethink how we support hospitals and how we 410 00:23:49,880 --> 00:23:52,639 Speaker 1: allow them to do their accounting. It shouldn't be activity 411 00:23:52,640 --> 00:23:55,640 Speaker 1: cost accounting. There needs to be one standard for all 412 00:23:55,720 --> 00:23:59,439 Speaker 1: hospitals that receive public funding, and they need to publish 413 00:23:59,560 --> 00:24:03,320 Speaker 1: not their pcing. The pricing is important, but more important 414 00:24:03,920 --> 00:24:06,960 Speaker 1: is their costs. What are their actual costs for doing 415 00:24:07,040 --> 00:24:11,880 Speaker 1: business without burdening the accounting burning their costs with all 416 00:24:11,880 --> 00:24:14,120 Speaker 1: the fancy things that they build and all the buildings 417 00:24:14,119 --> 00:24:16,480 Speaker 1: they built. And so if we're really going to try 418 00:24:16,480 --> 00:24:19,119 Speaker 1: to get to a cure and and really deal with 419 00:24:19,160 --> 00:24:22,600 Speaker 1: the issues we're facing with healthcare, the underlying principle is 420 00:24:22,640 --> 00:24:26,320 Speaker 1: what are the actual costs for providers? Until we get there, 421 00:24:26,960 --> 00:24:29,280 Speaker 1: you know, it's we're not going to really ever have 422 00:24:29,359 --> 00:24:33,680 Speaker 1: a strong solution. Tracy, I gotta say, Um, Mark's answer 423 00:24:33,840 --> 00:24:35,440 Speaker 1: sounds like it would have been good, would be good 424 00:24:35,440 --> 00:24:38,600 Speaker 1: on a presidential debate stage. Just saying that it sounded 425 00:24:38,720 --> 00:24:40,880 Speaker 1: very good. I'm just saying, just throwing that out there, 426 00:24:41,440 --> 00:24:43,440 Speaker 1: sounds like he's done. It sounds like he's done some 427 00:24:44,280 --> 00:24:50,159 Speaker 1: As for practice marked your presidential ambitions, Um, I go 428 00:24:50,240 --> 00:24:53,439 Speaker 1: back and forth. Honestly, I put it to my family 429 00:24:53,520 --> 00:24:56,280 Speaker 1: to vote on, you know, a year ago, and they 430 00:24:56,359 --> 00:24:59,280 Speaker 1: voted no. I was the only yes, Um, and it 431 00:24:59,400 --> 00:25:02,040 Speaker 1: was more action to what's going on in the country. 432 00:25:02,119 --> 00:25:06,160 Speaker 1: Then presidential ambition just to be blunt, you know, we're 433 00:25:06,440 --> 00:25:10,000 Speaker 1: we're as we go forward before COVID, after COVID, we 434 00:25:10,040 --> 00:25:13,199 Speaker 1: need people who truly understand technology and it's impact. If 435 00:25:13,200 --> 00:25:15,560 Speaker 1: you look at the changes that we're going through right now, 436 00:25:15,960 --> 00:25:18,600 Speaker 1: you know, work from home, online buying instead of in 437 00:25:18,640 --> 00:25:22,560 Speaker 1: person buying. You know, trying to get manufacturing because we're 438 00:25:22,800 --> 00:25:27,480 Speaker 1: too dependent on external manufacturing you know in Asian and 439 00:25:27,640 --> 00:25:31,400 Speaker 1: the rest of the world UM countries. To address those 440 00:25:31,400 --> 00:25:34,600 Speaker 1: things requires at least a basic understanding of technology, and 441 00:25:34,640 --> 00:25:37,000 Speaker 1: none of our candidates have that. And so if we're 442 00:25:37,000 --> 00:25:40,600 Speaker 1: gonna push for and and try to get companies bring 443 00:25:40,600 --> 00:25:43,280 Speaker 1: back manufacturing, we're gonna have to invest in robotics because 444 00:25:43,520 --> 00:25:47,200 Speaker 1: we're third or fourth at best in robotics globally. If 445 00:25:47,240 --> 00:25:50,280 Speaker 1: we're gonna deal with jobs and understand the impact of 446 00:25:50,280 --> 00:25:53,240 Speaker 1: technology and jobs because of AI, you're gonna have to 447 00:25:53,320 --> 00:25:56,760 Speaker 1: understand at least the basics of artificial intelligence. We don't 448 00:25:56,800 --> 00:26:00,280 Speaker 1: have that skill set in our leadership right now, and 449 00:26:00,359 --> 00:26:03,879 Speaker 1: that creates competitive problems for the country. And so again 450 00:26:03,920 --> 00:26:05,879 Speaker 1: there's people who know these things better than I do. 451 00:26:05,920 --> 00:26:09,240 Speaker 1: And if there were candidates that are that presented themselves 452 00:26:09,240 --> 00:26:11,320 Speaker 1: that do know this stuff better. I'd be more than 453 00:26:11,320 --> 00:26:13,240 Speaker 1: happy to take a back seat, but that that's kind 454 00:26:13,240 --> 00:26:17,040 Speaker 1: of my logic behind it. Okay, Well, just on that note, 455 00:26:17,040 --> 00:26:18,919 Speaker 1: I actually wanted to ask you when you sort of 456 00:26:19,000 --> 00:26:22,200 Speaker 1: survey the big picture changes that are going to come 457 00:26:22,240 --> 00:26:26,800 Speaker 1: from coronavirus for the business landscape. You know, clearly there 458 00:26:26,800 --> 00:26:30,760 Speaker 1: are both challenges and opportunities. Are there any particular sectors 459 00:26:30,840 --> 00:26:33,879 Speaker 1: or industries that you get excited about that you think 460 00:26:33,960 --> 00:26:38,880 Speaker 1: could actually benefit from some of the changes that we're seeing. Yeah, 461 00:26:38,880 --> 00:26:41,720 Speaker 1: I mean, just look at the technology industry. We you know, 462 00:26:41,880 --> 00:26:46,400 Speaker 1: we went from the analog to digital evolution to being 463 00:26:46,560 --> 00:26:50,840 Speaker 1: hybrid digital, you know, and manpower driven. You know, you 464 00:26:50,840 --> 00:26:53,560 Speaker 1: can look at Uber and Lift as an example of, 465 00:26:54,040 --> 00:26:58,080 Speaker 1: you know, being a hybrid of technology and putting independent 466 00:26:58,080 --> 00:27:02,320 Speaker 1: contractors to worker some might are you employees to work now, 467 00:27:02,560 --> 00:27:05,800 Speaker 1: you know, as we advance towards uber lip with self 468 00:27:05,920 --> 00:27:09,159 Speaker 1: driving cars or autonomous vehicles, I think we're gonna go 469 00:27:09,240 --> 00:27:13,000 Speaker 1: into a new age of the economy, if you will. 470 00:27:13,480 --> 00:27:17,360 Speaker 1: And so in order to get there and understand the ramifications, 471 00:27:17,720 --> 00:27:19,639 Speaker 1: you've got to have people investing in it. And I 472 00:27:19,640 --> 00:27:22,439 Speaker 1: think that's just a unique opportunity right now, how do 473 00:27:22,480 --> 00:27:26,120 Speaker 1: you get from a hybrid digital physical economy too, as 474 00:27:26,320 --> 00:27:29,960 Speaker 1: you know, almost totally digital economy, And I think that's 475 00:27:29,960 --> 00:27:32,720 Speaker 1: where they're going to be unique opportunities. That's not to 476 00:27:32,760 --> 00:27:36,560 Speaker 1: say all physical you know, commerce goes away. Obviously it won't. 477 00:27:36,600 --> 00:27:39,200 Speaker 1: You'll buy things, but I think they're gonna be delivered 478 00:27:39,240 --> 00:27:42,160 Speaker 1: at some point. You know, your order online, you might 479 00:27:42,240 --> 00:27:44,800 Speaker 1: just you know, with ambient voice, you might say, Alexa, 480 00:27:45,160 --> 00:27:47,800 Speaker 1: you know, giving my typical grocery order, have it delivered 481 00:27:47,800 --> 00:27:51,359 Speaker 1: on Tuesday at three pm, and some sort of autonomous 482 00:27:51,520 --> 00:27:55,280 Speaker 1: robotic system picks and picks it from a warehouse, putting 483 00:27:55,359 --> 00:27:58,720 Speaker 1: into an autonomous vehicle which delivers it right to your doorstep, 484 00:27:59,200 --> 00:28:02,160 Speaker 1: and depending on how your house is configured, may even 485 00:28:02,160 --> 00:28:04,679 Speaker 1: put it right into your refrigerator. And so, you know, 486 00:28:04,720 --> 00:28:07,399 Speaker 1: there's all kinds of changes and opportunities that are coming, 487 00:28:07,760 --> 00:28:09,960 Speaker 1: but they're gonna be very disruptive and so we've got 488 00:28:09,960 --> 00:28:11,840 Speaker 1: to be cognizant of that as well. Now, is that 489 00:28:11,840 --> 00:28:14,480 Speaker 1: going to happen in the next two years, over the 490 00:28:14,480 --> 00:28:17,560 Speaker 1: next twenty years, yes, before we move on, and I 491 00:28:17,640 --> 00:28:21,000 Speaker 1: want to get to a few other things, including uh, sports, 492 00:28:21,000 --> 00:28:23,680 Speaker 1: and a couple other quick business questions. While we're talking 493 00:28:23,680 --> 00:28:27,720 Speaker 1: about politics and stuff. Do you have much communication? Do 494 00:28:27,760 --> 00:28:29,840 Speaker 1: you talk to people in the White House or other 495 00:28:30,000 --> 00:28:32,480 Speaker 1: parts of the federal government? And also just on sort 496 00:28:32,520 --> 00:28:36,119 Speaker 1: of some of this logistics stuff getting like PPE equipment 497 00:28:36,280 --> 00:28:39,440 Speaker 1: into hospitals and so forth. Is that something that you 498 00:28:39,960 --> 00:28:42,719 Speaker 1: feel is uh, what's your communication like there and how 499 00:28:42,760 --> 00:28:45,720 Speaker 1: do you think that's gone? Okay, So two different questions. One, 500 00:28:45,800 --> 00:28:48,680 Speaker 1: do I communicate with them? Yes, when the President put 501 00:28:48,720 --> 00:28:52,240 Speaker 1: me on the Sports Council, that was only one ceremonial call. 502 00:28:52,640 --> 00:28:55,720 Speaker 1: But then they assigned me a liaison that I talked to, 503 00:28:56,240 --> 00:28:59,720 Speaker 1: if not every day, almost every day via textphone or email, 504 00:29:00,160 --> 00:29:03,120 Speaker 1: and so they're very responsive. The one thing, you know, 505 00:29:03,120 --> 00:29:05,240 Speaker 1: I've probably given them fifty ideas. The one thing they 506 00:29:05,280 --> 00:29:08,120 Speaker 1: did do was I'm working with an organization called the 507 00:29:08,200 --> 00:29:12,600 Speaker 1: ai h A, which is an Industrial Hygiene Association, and 508 00:29:13,080 --> 00:29:16,280 Speaker 1: those folks put together a website called back to Work 509 00:29:16,400 --> 00:29:19,680 Speaker 1: Safely dot org and now that there's a link to 510 00:29:19,760 --> 00:29:22,960 Speaker 1: that on the CDC site and other sites, and we've 511 00:29:23,000 --> 00:29:26,160 Speaker 1: also made it available to local and state municipality. So 512 00:29:26,200 --> 00:29:28,560 Speaker 1: that was a positive. You know, I've been very vocal 513 00:29:28,640 --> 00:29:30,720 Speaker 1: with them some of the issues I mentioned with you 514 00:29:30,800 --> 00:29:33,719 Speaker 1: guys in terms of what's working and what's not working 515 00:29:33,720 --> 00:29:35,760 Speaker 1: for P P P. The last suggestion I made to 516 00:29:35,800 --> 00:29:39,800 Speaker 1: them was yesterday where I said that, UM, part of 517 00:29:39,840 --> 00:29:43,360 Speaker 1: the problem for small businesses, particularly in states that are 518 00:29:43,360 --> 00:29:46,120 Speaker 1: trying to get open back up, is that there's no 519 00:29:46,240 --> 00:29:49,360 Speaker 1: forgiveness for any money that needs to be spent to 520 00:29:49,520 --> 00:29:53,000 Speaker 1: upgrade just just for a stake of example, or retail store, 521 00:29:53,280 --> 00:29:57,080 Speaker 1: for safety measures, you know, buying mass upgrading the air 522 00:29:57,080 --> 00:30:00,640 Speaker 1: conditioning system so you don't recirculate anybody and any germs 523 00:30:00,680 --> 00:30:03,560 Speaker 1: that from somebody who might came in updating your bathrooms, 524 00:30:03,560 --> 00:30:06,760 Speaker 1: dealing with replacing you know, all the rules for new 525 00:30:06,800 --> 00:30:10,120 Speaker 1: restaurants those should have been businesses should be able to 526 00:30:10,120 --> 00:30:13,120 Speaker 1: take that right off the top and not um impact 527 00:30:13,160 --> 00:30:15,400 Speaker 1: their forgiveness. And so that was the last thing. And 528 00:30:15,400 --> 00:30:16,920 Speaker 1: so we'll do what they come back when, and whether 529 00:30:17,000 --> 00:30:20,760 Speaker 1: or not they agree or disagree. Okay, Well, I did 530 00:30:20,760 --> 00:30:23,440 Speaker 1: all this NBA preparation and it would be a shame 531 00:30:23,640 --> 00:30:26,200 Speaker 1: not to use it, So I'm going to try. UM. 532 00:30:26,480 --> 00:30:30,040 Speaker 1: So Joe's right. I did tweet out asking what the 533 00:30:30,040 --> 00:30:33,440 Speaker 1: the salary cap issue was for the NBA, and all 534 00:30:33,480 --> 00:30:36,400 Speaker 1: I learned. All I learned is basically like no one 535 00:30:36,520 --> 00:30:39,520 Speaker 1: understands it, and they understand it even less in the 536 00:30:39,600 --> 00:30:42,280 Speaker 1: current situation. Can you maybe give us a sort of 537 00:30:42,360 --> 00:30:46,760 Speaker 1: high level summary of why uncertainty around COVID is such 538 00:30:46,760 --> 00:30:50,800 Speaker 1: a problem for the NBA because our business shut down 539 00:30:51,640 --> 00:30:54,920 Speaker 1: and the salary cap at its base says the players 540 00:30:55,000 --> 00:31:00,960 Speaker 1: get approximately of revenue UM and then there's an expected 541 00:31:01,080 --> 00:31:04,360 Speaker 1: level of continuity and there's no continuity, and so our 542 00:31:04,400 --> 00:31:08,880 Speaker 1: businesses closed like like many others. And so you know 543 00:31:08,960 --> 00:31:11,920 Speaker 1: what happens is the is the ultimate question, and I 544 00:31:11,920 --> 00:31:15,520 Speaker 1: don't have answers, and you know we'll find out. You know, 545 00:31:15,560 --> 00:31:18,320 Speaker 1: it's not just my decision. Obviously, it's a collaborative decision 546 00:31:18,800 --> 00:31:22,200 Speaker 1: between the players union and the m b a UM 547 00:31:22,240 --> 00:31:24,640 Speaker 1: at the commissioner level. So I'm just as curious about 548 00:31:24,680 --> 00:31:28,440 Speaker 1: what's going to happen next is everybody else. So, you know, 549 00:31:28,480 --> 00:31:32,080 Speaker 1: we've been talking about big changes coming to different industries. 550 00:31:32,520 --> 00:31:36,400 Speaker 1: Could you imagine that the current crisis forces a big 551 00:31:36,480 --> 00:31:39,760 Speaker 1: change for the NBA, either in terms of the salary 552 00:31:39,840 --> 00:31:42,800 Speaker 1: cap and the way the league actually does its financials, 553 00:31:43,120 --> 00:31:45,440 Speaker 1: or in terms of the way it gets its revenue. 554 00:31:46,160 --> 00:31:48,840 Speaker 1: UM I think the way it gets its revenue could change, 555 00:31:48,880 --> 00:31:51,400 Speaker 1: particularly if we won't have fans for games, which is 556 00:31:51,440 --> 00:31:54,080 Speaker 1: the most likely outcome right now, particularly if we try 557 00:31:54,120 --> 00:31:57,320 Speaker 1: to finish the this current season, and so that's going 558 00:31:57,360 --> 00:32:00,160 Speaker 1: to be disruptive. And so you know, we've got a 559 00:32:00,200 --> 00:32:04,080 Speaker 1: relationship with the players union and our commissioner Adam Silver 560 00:32:04,240 --> 00:32:06,360 Speaker 1: is talking to them on an ongoing basis, and so 561 00:32:06,800 --> 00:32:09,600 Speaker 1: we're all gonna have to be agile, resilient and adaptive. 562 00:32:09,800 --> 00:32:13,440 Speaker 1: I mean, there are no rules right now that you know, 563 00:32:13,600 --> 00:32:16,680 Speaker 1: there's no way really to anticipate what comes next, because, 564 00:32:17,080 --> 00:32:19,440 Speaker 1: like I mentioned right off the bat, of all the uncertainty, 565 00:32:19,600 --> 00:32:23,000 Speaker 1: we're trying to be good corporate citizens. We're trying to 566 00:32:23,080 --> 00:32:25,880 Speaker 1: let people in need get tests. We're not you know, 567 00:32:26,080 --> 00:32:27,840 Speaker 1: in at least in the state of Texas and other 568 00:32:27,920 --> 00:32:30,840 Speaker 1: states where there's a shortage of testing. You know, I've 569 00:32:30,880 --> 00:32:33,600 Speaker 1: never been tested. UM our players to my knowledge, have 570 00:32:33,680 --> 00:32:36,360 Speaker 1: not been tested. And so we're trying to take a 571 00:32:36,400 --> 00:32:39,360 Speaker 1: back seat to people who are in greater need and 572 00:32:39,600 --> 00:32:42,120 Speaker 1: allowing them to have, you know what, what's turned out 573 00:32:42,120 --> 00:32:45,080 Speaker 1: to be a scarce resource unfortunately test And so as 574 00:32:45,080 --> 00:32:47,800 Speaker 1: long as that continues, to be the case, it's very 575 00:32:47,840 --> 00:32:50,120 Speaker 1: difficult for us to make a plan on what comes next. 576 00:32:51,200 --> 00:32:54,320 Speaker 1: So it's difficult to make a plan on what comes next. 577 00:32:54,600 --> 00:32:57,880 Speaker 1: Unclear if the season can be salvage. Do you think 578 00:32:57,920 --> 00:33:01,320 Speaker 1: it can and what what kind of things? What could 579 00:33:01,320 --> 00:33:04,040 Speaker 1: it possibly look like? I mean you mentioned almost certainly 580 00:33:04,040 --> 00:33:06,560 Speaker 1: there won't be players, O, there won't be fans in 581 00:33:06,600 --> 00:33:08,480 Speaker 1: the stands. But what could it just sort of look 582 00:33:08,600 --> 00:33:11,880 Speaker 1: like operationally? Uh, what would be plausible at this point? 583 00:33:12,680 --> 00:33:15,800 Speaker 1: Hotel California. UM. You you enter, but you never leave. 584 00:33:16,160 --> 00:33:20,760 Speaker 1: We find a huge UM facility hotel that can support 585 00:33:20,880 --> 00:33:24,320 Speaker 1: the all of our players, which is for fifty give 586 00:33:24,360 --> 00:33:28,080 Speaker 1: or take plus extensive potential personnel to put on games, 587 00:33:28,440 --> 00:33:31,719 Speaker 1: and we have those games in a central location and 588 00:33:31,760 --> 00:33:34,800 Speaker 1: we play them for made for TV. But I think 589 00:33:34,840 --> 00:33:37,440 Speaker 1: that would be great. I think, you know, basketball fans 590 00:33:37,440 --> 00:33:39,560 Speaker 1: and NBA fans around the world would love it. I 591 00:33:39,600 --> 00:33:42,280 Speaker 1: think you know, we as a as Americans have a 592 00:33:42,280 --> 00:33:46,360 Speaker 1: proclivity towards sports and supporting our teams, and we miss it. 593 00:33:46,720 --> 00:33:48,240 Speaker 1: And I just think it would be great to give 594 00:33:48,240 --> 00:33:50,719 Speaker 1: everybody something to cheer for and get excited about. So 595 00:33:51,080 --> 00:33:53,680 Speaker 1: I'm all four resuming the season. You know, not just 596 00:33:53,720 --> 00:33:57,280 Speaker 1: for economic reasons, but for morale reasons in the country. 597 00:33:57,320 --> 00:33:59,680 Speaker 1: And I think, I think there's a chance we'll do it. 598 00:33:59,720 --> 00:34:03,320 Speaker 1: But again, it comes down to testing, It comes down 599 00:34:03,400 --> 00:34:06,400 Speaker 1: to having the science, and so I have to to 600 00:34:06,520 --> 00:34:09,040 Speaker 1: defer to the doctors and the scientists, but I know 601 00:34:09,120 --> 00:34:12,359 Speaker 1: the NBA is working closely with them. So speaking of 602 00:34:12,440 --> 00:34:16,239 Speaker 1: things that basketball fans watch, I'm curious if you've been 603 00:34:16,440 --> 00:34:19,440 Speaker 1: watching the Michael Jordan documentary and whether there was anything 604 00:34:19,480 --> 00:34:23,160 Speaker 1: in there that surprised you. Um, A lot of things 605 00:34:23,200 --> 00:34:26,319 Speaker 1: surprised me, and yes I have. Um, you know, it's 606 00:34:26,360 --> 00:34:28,160 Speaker 1: just so different. It was a different era that I'm 607 00:34:28,200 --> 00:34:31,440 Speaker 1: talking about, you know, smoking cigarettes and drinking at halftime, 608 00:34:32,520 --> 00:34:34,960 Speaker 1: you know, guys just taking off because they're mad at 609 00:34:34,960 --> 00:34:39,240 Speaker 1: their playing time, renegotiating contracts, talk about the CBA changes. 610 00:34:39,800 --> 00:34:42,200 Speaker 1: You could just see it's being so different because it's 611 00:34:42,239 --> 00:34:45,520 Speaker 1: pre social media. You know, Michael walking out to a 612 00:34:45,600 --> 00:34:49,200 Speaker 1: sea of cameras. You know, today's kids they just they 613 00:34:49,239 --> 00:34:51,880 Speaker 1: have their own cameras. They don't need all the media cameras, 614 00:34:51,880 --> 00:34:56,480 Speaker 1: and so yeah, it wasn't necessarily surprising, but it was just, 615 00:34:56,960 --> 00:34:58,560 Speaker 1: you know, kind of a wake up call to how 616 00:34:58,640 --> 00:35:01,239 Speaker 1: much things have changed. It's also fun see an MP 617 00:35:01,320 --> 00:35:04,120 Speaker 1: DATA competitor because you know, he owns the Charlotte Hornets, 618 00:35:04,120 --> 00:35:06,880 Speaker 1: so we've gotten to be good friends. And he's certainly 619 00:35:06,920 --> 00:35:09,719 Speaker 1: still a competitor, but it's you know, it's just a 620 00:35:09,719 --> 00:35:13,000 Speaker 1: different level of competitor when when he was actually playing it, 621 00:35:13,239 --> 00:35:16,160 Speaker 1: And that's been fun to watch. Marcot. I love that idea, 622 00:35:16,280 --> 00:35:19,200 Speaker 1: you know, the sort of the big centralized hotel California. 623 00:35:19,320 --> 00:35:21,919 Speaker 1: Do you have like a site in mind that could 624 00:35:22,000 --> 00:35:25,279 Speaker 1: plausibly pull it off and could have the capacity for 625 00:35:25,400 --> 00:35:28,399 Speaker 1: enough games and all the personnel. Well, there's plenty. I mean, 626 00:35:28,400 --> 00:35:30,480 Speaker 1: you just have to look at hotels that you know, 627 00:35:30,840 --> 00:35:33,920 Speaker 1: maybe have an arena and can hold thousands of thousands 628 00:35:33,960 --> 00:35:37,200 Speaker 1: of rooms, so Vegas, Orlando. You know, these aren't things. 629 00:35:37,320 --> 00:35:40,080 Speaker 1: I'm not involved in those negotiations, so I'm reading them 630 00:35:40,320 --> 00:35:43,560 Speaker 1: like everybody else, but they make sense to me. Mark 631 00:35:43,640 --> 00:35:45,920 Speaker 1: one last, one, last question for you and then we 632 00:35:46,000 --> 00:35:49,200 Speaker 1: can let you go. But you're in Dallas. Elon Musk 633 00:35:49,239 --> 00:35:53,000 Speaker 1: he's been tweeting about maybe ditch in California for Texas. 634 00:35:53,000 --> 00:35:54,680 Speaker 1: You want him to, uh, would you like him to 635 00:35:54,760 --> 00:35:57,640 Speaker 1: join you in the lone Star State? I mean, I 636 00:35:57,680 --> 00:36:01,959 Speaker 1: have no problem with that, but you know, would would 637 00:36:01,960 --> 00:36:04,160 Speaker 1: that be a good choice for him? Yeah, of course. 638 00:36:04,200 --> 00:36:07,680 Speaker 1: I mean doing business in around Dallas, Texas is a dream. 639 00:36:07,760 --> 00:36:10,279 Speaker 1: I mean it's just so much simpler, so much less 640 00:36:10,320 --> 00:36:14,759 Speaker 1: friction here. Um now, a lot of different perspectives um politically, 641 00:36:14,880 --> 00:36:17,160 Speaker 1: but at the same time, when it comes to starting 642 00:36:17,200 --> 00:36:20,239 Speaker 1: a running businesses, which I've done my entire professional life 643 00:36:20,239 --> 00:36:23,000 Speaker 1: in Dallas, Texas, it truly is a great place to 644 00:36:23,080 --> 00:36:27,520 Speaker 1: have a company. All Right, Mark, really appreciate you, uh 645 00:36:27,560 --> 00:36:30,360 Speaker 1: taking the time and hopefully you joined us again on 646 00:36:30,440 --> 00:36:36,080 Speaker 1: your run. Appreciate it, Joe, appreciate Tracy great questions. I 647 00:36:36,120 --> 00:36:38,560 Speaker 1: really enjoyed it. Thanks, and take care of Mark staying smart. 648 00:36:49,320 --> 00:36:52,120 Speaker 1: I guess I didn't realize Mark was a rented fan. 649 00:36:52,680 --> 00:36:58,120 Speaker 1: Yeah you heard that too, huh. Yeah. I immediately lashed 650 00:36:58,160 --> 00:37:01,759 Speaker 1: onto that. It's interesting because well that comes with a 651 00:37:01,760 --> 00:37:04,640 Speaker 1: certain reputation. But of course what he's talking about is 652 00:37:04,960 --> 00:37:08,440 Speaker 1: greater government participation in a whole bunch of markets. Right. 653 00:37:08,480 --> 00:37:12,160 Speaker 1: But I mean this, I do think like this crisis, 654 00:37:12,560 --> 00:37:16,839 Speaker 1: because of how intense and how deep it is, is 655 00:37:17,200 --> 00:37:20,400 Speaker 1: sort of really exposing. I mean what he said right 656 00:37:20,440 --> 00:37:23,160 Speaker 1: off the beginning, when I asked him about the state 657 00:37:23,160 --> 00:37:26,280 Speaker 1: of the economy. For all, his business is large and small, 658 00:37:26,360 --> 00:37:28,960 Speaker 1: Like it's about demand and if people if you're not 659 00:37:29,000 --> 00:37:32,359 Speaker 1: selling something that you could store safely in your home 660 00:37:32,400 --> 00:37:34,400 Speaker 1: for a long time, like certain kinds of foods or 661 00:37:34,400 --> 00:37:38,840 Speaker 1: maybe athletic equipment, Like everyone is really hurting until that 662 00:37:38,960 --> 00:37:42,840 Speaker 1: demand comes back. Yeah. Absolutely, I mean, the economy isn't 663 00:37:42,920 --> 00:37:46,480 Speaker 1: really built for demand to just sort of dissipate. It's 664 00:37:46,480 --> 00:37:50,279 Speaker 1: also really interesting to see a business person, you know, 665 00:37:50,920 --> 00:37:53,720 Speaker 1: a very successful business person, someone from the private sector 666 00:37:53,840 --> 00:37:57,760 Speaker 1: take such an interest in these types of policy matters. 667 00:37:57,800 --> 00:38:00,279 Speaker 1: And it's it's interesting that you have seen more bit 668 00:38:00,440 --> 00:38:03,920 Speaker 1: as well, because of course the business community, business leaders, 669 00:38:04,000 --> 00:38:06,000 Speaker 1: they're the ones that are going to have to carry 670 00:38:06,080 --> 00:38:09,640 Speaker 1: through on all these corporate policies, like we were discussing 671 00:38:09,640 --> 00:38:12,520 Speaker 1: about the p p P program, making those judgment calls 672 00:38:12,520 --> 00:38:15,840 Speaker 1: about whether or not it's better to fire your worker 673 00:38:15,880 --> 00:38:19,120 Speaker 1: and let them get that extra six or whether or 674 00:38:19,160 --> 00:38:22,760 Speaker 1: not it's better to keep them on the payroll. Lots 675 00:38:22,840 --> 00:38:26,560 Speaker 1: of decisions to be named. Yeah. Absolutely. Also it's just 676 00:38:26,680 --> 00:38:29,920 Speaker 1: clear like and I really you know, obviously talk of 677 00:38:30,000 --> 00:38:35,799 Speaker 1: him like having potential presidential ambition. Um, you know, that's 678 00:38:35,840 --> 00:38:37,840 Speaker 1: been percolating for while I was talking about it. You 679 00:38:37,880 --> 00:38:39,680 Speaker 1: know that he's thought about it in the past. But 680 00:38:39,760 --> 00:38:42,240 Speaker 1: then when he gave like his like and now here's 681 00:38:42,320 --> 00:38:45,680 Speaker 1: the Mark Cuban healthcare plan, It's like, Yeah, that's someone 682 00:38:45,760 --> 00:38:50,799 Speaker 1: who definitely is ready at some point for a more 683 00:38:50,880 --> 00:38:54,280 Speaker 1: sort of like public national unveiling of it. Because I figured, 684 00:38:54,520 --> 00:38:57,200 Speaker 1: you don't just come up with a whole healthcare plan 685 00:38:57,400 --> 00:39:00,200 Speaker 1: and score it and figure out what the copay are 686 00:39:00,280 --> 00:39:03,240 Speaker 1: and figure out the correct level of the federal poverty 687 00:39:03,320 --> 00:39:05,200 Speaker 1: rate you're going to be if you're just planning on 688 00:39:05,239 --> 00:39:07,680 Speaker 1: sort of keeping that to yourself, well, you don't have 689 00:39:07,760 --> 00:39:10,320 Speaker 1: your own healthcare plan of your sleeve, the Joe wisen 690 00:39:10,400 --> 00:39:14,320 Speaker 1: Ball Act. I have not gone to a think tank 691 00:39:14,440 --> 00:39:17,719 Speaker 1: to calculate exactly how much it would cause people, how 692 00:39:17,800 --> 00:39:20,920 Speaker 1: much cost savings, uh and all that. So no, I 693 00:39:20,960 --> 00:39:23,399 Speaker 1: do not I have not done the equivalent work. Yeah, 694 00:39:23,440 --> 00:39:25,839 Speaker 1: it is very interesting to hear him talk about sort 695 00:39:25,840 --> 00:39:30,480 Speaker 1: of using his own businesses as test cases for certain 696 00:39:30,520 --> 00:39:34,600 Speaker 1: policy changes. Um. That's yeah, it's definitely something he's thinking about, 697 00:39:34,680 --> 00:39:39,200 Speaker 1: isn't it. Okay, Um, well, great conversation. Yeah, I learned 698 00:39:39,239 --> 00:39:43,160 Speaker 1: something about basketball, namely that no one understands how it works, 699 00:39:43,680 --> 00:39:45,759 Speaker 1: because I was like, it's funny, like you did all 700 00:39:45,840 --> 00:39:48,799 Speaker 1: the good homework, because I was like reading his comments 701 00:39:48,840 --> 00:39:52,759 Speaker 1: about you know, federal jobs program and stuff. But I 702 00:39:52,800 --> 00:39:55,719 Speaker 1: suspect more of our listeners what people want to know 703 00:39:55,760 --> 00:39:57,520 Speaker 1: about it is like how the salary cap is going 704 00:39:57,560 --> 00:40:00,759 Speaker 1: to interact with the COVID crisis and so forth. So 705 00:40:01,040 --> 00:40:03,960 Speaker 1: I appreciate you having done the homework that I forgot 706 00:40:03,960 --> 00:40:07,200 Speaker 1: to do. Thank you, I made the effort. Okay, On 707 00:40:07,320 --> 00:40:10,359 Speaker 1: that note, this has been another episode of the Odd 708 00:40:10,400 --> 00:40:13,200 Speaker 1: Lots podcast. I'm Tracy Alloway. You can follow me on 709 00:40:13,239 --> 00:40:17,120 Speaker 1: Twitter at Tracy Alloway, and I'm Joe Wassn'tal. You can 710 00:40:17,200 --> 00:40:20,200 Speaker 1: follow me at the Stalwart. And you should follow our 711 00:40:20,280 --> 00:40:24,080 Speaker 1: guests on Twitter. Mark Cuban He's at m Cuban. Follow 712 00:40:24,120 --> 00:40:28,440 Speaker 1: our producer Laura Carlson, She's at Laura M. Carlson. Follow 713 00:40:28,520 --> 00:40:32,080 Speaker 1: the Bloomberg head of podcast, Francesca Levi at Francesca Today, 714 00:40:32,160 --> 00:40:34,600 Speaker 1: and be sure to check out all of our podcasts 715 00:40:34,960 --> 00:40:38,920 Speaker 1: at Bloomberg under the handle at podcasts. Thanks for listening. 716 00:41:00,960 --> 00:41:01,640 Speaker 1: Two