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Speaker 1: Welcome to the Bloomberg Markets Podcast. I'm Paul Sweeney alongside

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Speaker 1: my co host Matt Miller. Every business day, we bring

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Speaker 1: you interviews from CEOs, market pros, and Bloomberg experts, along

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Speaker 1: with essential market moving news. Find the Bloomberg Markets podcast

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Speaker 1: called Apple Podcasts or wherever you listen to podcasts, and

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Speaker 1: at Bloomberg dot com slash podcast. Speaking of tiny little tantrums,

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Speaker 1: that's something you don't want from your employees. And we've

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Speaker 1: got a guest here who has an AI platform that

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Speaker 1: helps you deal with employee motivation and retention maybe more

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Speaker 1: important than ever right now as you try and get

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Speaker 1: workers to come back and stay. Casey Wall joins US

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Speaker 1: chief executive officer and co founder of Attuned out of Tokyo.

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Speaker 1: Casey Um, talk to me about what your platform can

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Speaker 1: offer employers right now. Yeah, I think with everything that's

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Speaker 1: going on in the world, so many changes and like

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Speaker 1: people are looking to change jobs right now, and how

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Speaker 1: do you understand the other people really? And that's what

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Speaker 1: we kind of help with, right and so what we're

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Speaker 1: making is kind of the what usually is invisible able

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Speaker 1: to be seen. So people's intrinsic motivation, you get it

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Speaker 1: through data. So now when you kind of can't go

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Speaker 1: into the offices, you can kind of feel what's going

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Speaker 1: on in the room. You can't see people, there's no

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Speaker 1: more management. By walking around, you can see what most

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Speaker 1: resonates with people. And then now, because of all the changes,

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Speaker 1: how people's values are in their goals are are shifting,

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Speaker 1: and we get that to kind of all the managers

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Speaker 1: and data so they can have the right communications, the

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Speaker 1: right one on ones and keep people motivated for what

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Speaker 1: is most meaningful to them. Right, And there's all these

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Speaker 1: different types of motivations, right, casey. It can be altruism, competition,

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Speaker 1: financial status. Is there one that is the prominent driver?

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Speaker 1: And have you seen that kind of change in the

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Speaker 1: pandemic world? I think that's the beauty of it. There's everybody,

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Speaker 1: like everybody's motivation is like a fingerprint. What we found

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Speaker 1: is there's one point seven million different combinations of motivations.

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Speaker 1: And this is why it's so hard to be a manager.

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Speaker 1: But I think your question is, you know since this pandemic,

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Speaker 1: because what has really changes, you know, some of the

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Speaker 1: motivations across the boards, across the thousands of people you

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Speaker 1: know that have taken the assessment and who's intrinsic motivations

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Speaker 1: we know have changed and the biggest one is rationality.

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Speaker 1: And I think across the organizations a lot more, you know,

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Speaker 1: team members and employees are looking for a more logical

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Speaker 1: explanation from their organization, from their managers because there's so

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Speaker 1: much uncertainty what's going on, and just had a little

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Speaker 1: bit more kind of understanding what the company is going

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Speaker 1: to do, what are our goals, what's my meaning for this,

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Speaker 1: and just explain logically if anybody's listening, that's probably the

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Speaker 1: biggest takeaway and what people need right now. For me,

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Speaker 1: if my boss likes me, if I think he or

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Speaker 1: she likes me, that's all I need. They're not to

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Speaker 1: pay me at all. Really, I just want to be liked.

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Speaker 1: Casey Um, talk to me about the differences. You're American,

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Speaker 1: but you're based out of Tokyo, and I know you

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Speaker 1: grew up overseas as well. Why did you pick Japan?

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Speaker 1: H Japan's kind of I think Japan kind of picked me.

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Speaker 1: I think I went there for an adventure, but like now,

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Speaker 1: you know, with a tuned especially, it's it's kind of

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Speaker 1: a great place to be an entrepreneur, So, Japan is

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Speaker 1: pretty unique. It's almost like kind of Mars on Earth

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Speaker 1: to a certain degree, like it's a weird culture. It's

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Speaker 1: really hard for kind of aggressive startups to come in

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Speaker 1: because of the language barrier and the cultural barrier and

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Speaker 1: all the weird kind of quirks to do. So, you know,

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Speaker 1: we've got very loyal Japanese customers and it takes a

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Speaker 1: long time to get like a Japanese customer um. But

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Speaker 1: then we have this huge mode so like really kind

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Speaker 1: of well funded aggressive firms get really difficult to go in,

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Speaker 1: so we can get this kind of base of close customers,

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Speaker 1: kind of cash flow. Cash is really cheap in Japan,

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Speaker 1: and then you can grow kind of grow fast in

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Speaker 1: Japan and kind of attack globally from there. Is it's

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Speaker 1: kind of the perspective I look at it. So you know,

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Speaker 1: if there's anybody looking for a cool place and you

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Speaker 1: can hire really really good people, well I would recommend Toka.

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Speaker 1: I would like to pick up on that point, what

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Speaker 1: is the hiring environment like in Japan? Because here in

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Speaker 1: the U S we're hearing from a lot of businesses

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Speaker 1: that they have positions that they are struggling to fill

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Speaker 1: they just can't find qualified workers. Is it the same

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Speaker 1: in Japan. Yeah, it's the same in Japan. I think

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Speaker 1: it's really the same everywhere. And and really, you know,

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Speaker 1: how many kind of new technology jobs and like jobs

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Speaker 1: that are being created like now and that aren't so important, right,

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Speaker 1: Like all the cryptocurrency jobs that are being created, they

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Speaker 1: didn't exist five to seven years ago type of thing

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Speaker 1: like that. You know, like a community manager, you know,

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Speaker 1: for a lot of kind of technology companies or even

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Speaker 1: gaming companies are are kind of new jobs. So there's

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Speaker 1: not these kind of deep pools of talent, and companies

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Speaker 1: are creating new jobs, like tech companies kind of around

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Speaker 1: the world, like we see demands kind of everywhere. So like,

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Speaker 1: I think that struggle for talent is real, which goes

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Speaker 1: back to you've got to hold on and really kind

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Speaker 1: of motivate the people that you have. Very cool, Thanks

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Speaker 1: so much for joining us. Casey Wall there. He's the

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Speaker 1: CEO and co founder of a Tuned. It's an AI

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Speaker 1: platform that helps employers deal with motivation and retention of workers,

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Speaker 1: and it's used by some of Japan's biggest brands. Denzo Kaplan,

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Speaker 1: we said, also Recutan, which which is huge. I mean,

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Speaker 1: I'm into Japanese leather and denim, and that's a great

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Speaker 1: place to buy that kind of stuff. Casey, thanks so

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Speaker 1: much for joining us well. Shares of Herbal Life are

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Speaker 1: up about eight percent today, best day since July, after

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Speaker 1: the company's positive first quarter results and outlook. Joining us

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Speaker 1: now is Alex Misqueta, the company's CFO, and Jog John Agunoby,

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Speaker 1: the CEO of Herbal Life. Alex John, it's great to

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Speaker 1: have you both. Alex will start with you. Nineteen percent

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Speaker 1: sales growth really solid in the first quarter, but can

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Speaker 1: you keep that up? How tough are your comps going

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Speaker 1: to be going into the second half of the year. Oh,

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Speaker 1: thank thanks for the question. UM, and growth that we

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Speaker 1: saw in the first quarter is actually results. We're seeing

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Speaker 1: UM this elevated demand for about two quarters since the

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Speaker 1: middle of two thousand twenty UM. But the growth is

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Speaker 1: not new to us. We have been growing our markets.

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Speaker 1: For example, Europe has been growing for forty four straight quarters.

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Speaker 1: The US has been growing for thirteen straight quarters, so

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Speaker 1: growth is not new to us. I think the elevated

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Speaker 1: demand that we're seeing is just as consumer trends shift

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Speaker 1: towards UH making more of a focus of what people

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Speaker 1: are putting inside their body, making a connection between health

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Speaker 1: and nutrition and so um, the growth that we see

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Speaker 1: uh this past quarter, in the past couple of quarters

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Speaker 1: is something that we foresee seeing for us to the

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Speaker 1: rest of the year, with growth expected to be in

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Speaker 1: the mid double digits. So, Alex, what was different during

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Speaker 1: the pandemic? I mean, how did for example, Herbal Life

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Speaker 1: sales strategy change during lockdowns. Well, we had to do

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Speaker 1: a lot of changing and working with our channel to

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Speaker 1: shift how people were getting their nutritional So, as you

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Speaker 1: could imagine, there's a lot of in person prior to

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Speaker 1: the pandemic, and so the entrepreneurial nature of our channel

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Speaker 1: is really figuring out how do we switch from in

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Speaker 1: person m mechanisms to using technology, doing take out, doing

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Speaker 1: home delivery, just really thinking about how to be creative

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Speaker 1: outside of the traditional way that we've done the business,

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Speaker 1: which is in person and nutrition clubs and face to face. Well,

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Speaker 1: and John, of course, you began your tenure on March

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Speaker 1: thirtieth last year, right in the thick of the pandemic crisis.

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Speaker 1: How do you see the changes you've made at the

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Speaker 1: HELM lasting in the post pandemic world. You know, Kylee,

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Speaker 1: there are a number of things that I think are

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Speaker 1: going to hold true well beyond the pandemic. The first

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Speaker 1: would be the acceleration of our digital strategy, so so

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Speaker 1: many of our distributors have now moved the center of

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Speaker 1: their business UM on onto online platforms and social media

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Speaker 1: platforms that I think is going to hold, is going

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Speaker 1: to hold and continue into the future. The sales force

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Speaker 1: itself has grown dramatically over the course of my my

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Speaker 1: one year in the job UM, and that salesforce has

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Speaker 1: become better able, I think, better connected, and better related,

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Speaker 1: better relates to its customers today as those customers have

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Speaker 1: improved an increased demand for health products. People are much

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Speaker 1: more aware of the importance of health, of the importance

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Speaker 1: of their of their of exercise, and of good nutrition.

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Speaker 1: And our distributors, who serve as coaches in each of

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Speaker 1: the communities where they work around the world, they're better

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Speaker 1: prepared today than ever before to address those needs. Lastly,

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Speaker 1: I would just add that UM, one of the things

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Speaker 1: that we've really begun to I think do with our

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Speaker 1: strategy as product moving our products so that it's not

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Speaker 1: just about weight management, which was our legacy, and it's

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Speaker 1: still one of our core businesses. We've now begun to

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Speaker 1: move dramatically into sports nutrition and we've taken our line

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Speaker 1: of sports nutrition is called Urbalized twenty four, and we've

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Speaker 1: now begun to take it into me new countries around

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Speaker 1: the world. We're ninety markets, as you know, and but

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Speaker 1: our sports nutrition product was only in a portion of them,

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Speaker 1: and so we're increasing the march around the world expanding

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Speaker 1: access to that product life. It's grown actually, as I recall,

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Speaker 1: thirty four um in in just the last the first quarter,

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Speaker 1: so that that that particular space sports nutrition is also

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Speaker 1: gonna be a very big part of our future. I

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Speaker 1: wonder John, you have uh a lot of experience working

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Speaker 1: in government. You started out in Florida. Then you are

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Speaker 1: the Assistant Secretary of Health for the US Department of

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Speaker 1: Health and Human Services. I guess before you went to

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Speaker 1: to Walmart to run their health and wellness business. Um.

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Speaker 1: Do you think the Biden push, this new administration's push

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Speaker 1: towards nutrition and health because there's a lot of spending

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Speaker 1: in the infrastructure built on that. Do you think Herbal

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Speaker 1: Life is going to be able to take advantage of that? Yeah?

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Speaker 1: I won't. I won't speak to Herbal Life as a

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Speaker 1: Pacific company. And as I said, we're in ninety four

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Speaker 1: countries around the world. The US is a little more

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Speaker 1: than I think twenty four of that UM in terms

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Speaker 1: of top line sales. But I will say this that

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Speaker 1: UM I do believe that it's an investment in the

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Speaker 1: future of the country. UM investing in healthy nutrition long

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Speaker 1: term should help reduce the accelerated cost of healthcare or

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Speaker 1: at least slow the growth of of of healthcare expenditures.

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Speaker 1: As a company, we are a very flexible entity. We

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Speaker 1: we've we've evolved over time, and as the nation's demand

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Speaker 1: for nutrition increases, I for good nutrition increases, for healthy nutrition,

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Speaker 1: UM I can assure you that our distributors, our company

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Speaker 1: will pivot and moves and flex and and respond so

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Speaker 1: that if there are needs that we can help with,

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Speaker 1: will be there to deliver them well. Alex, talking about

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Speaker 1: the different countries in which you operate, you saw revenue

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Speaker 1: gains pretty much across most regions, but not in Nina.

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Speaker 1: What's going on in that market and will we see

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Speaker 1: more growth in China in the back half of the year.

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Speaker 1: So China is going through a transition where we are

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Speaker 1: going through a change to encourage behaviors for that market

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Speaker 1: to have more stability in the market. So over the

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Speaker 1: past twenty quarters, China has been up ten quarters and

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Speaker 1: it's been down ten quarters, and it's been up and

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Speaker 1: down changing directions nine times out of that time period.

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Speaker 1: We're looking to employ UM a business model there to

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Speaker 1: help with the stability in that market, and to do

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Speaker 1: so that requires some behavioral changes, that require some technology,

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Speaker 1: that requires some some of the learnings that we've had

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Speaker 1: in the US and in some of our other markets

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Speaker 1: and bring that into China. So as we go through

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Speaker 1: that transition, there is some short term disruption as we

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Speaker 1: make that change, and that's what we've been going through

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Speaker 1: in the fourth quarter and continue to go through in

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Speaker 1: the first quarter. In fact, our first quarter, even though

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Speaker 1: it was down, landed right where we thought it would be.

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Speaker 1: So our expectations for the transition that we are expecting

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Speaker 1: UM is right on target, and we anticipate that transition

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Speaker 1: to take a few potentially a few quarters. UM The

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Speaker 1: expectation is that we return to growth by the end

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Speaker 1: of this year, but this is going to be a journey.

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Speaker 1: The most important thing that I want to say is

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Speaker 1: that the long term growth opportunity in China is still intact.

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Speaker 1: Sometimes when we have these changes that we make in

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Speaker 1: the market, it takes a few quarters for that to

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Speaker 1: turn around, but then we reap the rewards for that

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Speaker 1: on the other side of that, And that's what we're

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Speaker 1: looking forward to as we keep going here in China.

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Speaker 1: John and Alex, thanks so much for joining us on

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Speaker 1: the program today. John Aguinobi is the CEO of Herbal

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Speaker 1: Life Nutrition. Alex ms Kite is the chief financial officer.

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Speaker 1: After earnings and lifting their guidance, this is Bloomberg Matt

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Speaker 1: Let's talk about the big decision out of Facebook today.

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Speaker 1: Donald Trump remains banned from the social network, at least

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Speaker 1: for now. The company's oversight board, which of course operates independently,

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Speaker 1: said that the band can stay in place, but it

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Speaker 1: also recommended Facebook review it within six months. So this

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Speaker 1: is an ongoing story and we do know. How do

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Speaker 1: now have the reaction from the former president putting out

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Speaker 1: a statement saying Facebook, Twitter and Google have what they

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Speaker 1: have done is a total disgrace and an embarrassment to

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Speaker 1: our country. He goes on to say these corrupt social

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Speaker 1: media companies must pay a political price. So joining us

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Speaker 1: now to discuss is Jim Anderson, Social Flow CEO Full Disclosure.

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Speaker 1: Social Flow is a platform used by Bloomberg for social

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Speaker 1: media purposes. Jim, great to have your insight here. What

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Speaker 1: is your immediate reaction to this Advisory Board decision? Are

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Speaker 1: you surprised? Yeah, Kelly, I'm a little surprised because they

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Speaker 1: you know, they are staffed with quite a few free

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Speaker 1: speech advocates, so I think a lot of people were expecting,

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Speaker 1: all things being equal, for them to come down on

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Speaker 1: the side of free speech. So I think this is

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Speaker 1: a pretty significant defeat for former President Trump. And you

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Speaker 1: see that reflected in his statement. Uh, you know, as

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Speaker 1: much as he says he doesn't need Facebook and Twitter,

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Speaker 1: it's it's clear he can't reach the match of those

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Speaker 1: platforms on his own. And the decision, there was a

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Speaker 1: sentence in the decision that I think is overlooked because

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Speaker 1: there's so much in there, but it said that the

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Speaker 1: board found, in maintaining an unfounded narrative of what of

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Speaker 1: electoral fraud and persistent calls to action, that you know,

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Speaker 1: Trump created an environment where a serious risk of violence

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Speaker 1: was possible. That that's a pretty strong statement. Of course,

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Speaker 1: they did kick it back to Facebook to say you

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Speaker 1: need to come up with something better than an indefinite

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Speaker 1: Dand so that's a that's a partial victory or a

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Speaker 1: silver lining, as he will. That may be Facebook will

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Speaker 1: revisit that, but it was a pretty clear decision by

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Speaker 1: the overside board. How does this affect you think Facebook's business?

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Speaker 1: I think it has very little impact, honestly, one way

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Speaker 1: or another. Mark Zuckerberg was quoted in a pretty candid

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Speaker 1: moment at one point, this is six months or a

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Speaker 1: year ago, saying, hey, this is uh, you know, not

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Speaker 1: really having that much of a positive impact on our business.

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Speaker 1: We probably be better off it just went away because

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Speaker 1: the controversy is more than we want to deal with.

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Speaker 1: But honestly, Facebook, we just saw their earnings last week, right,

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Speaker 1: They just continue to meant record earnings. They have such

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Speaker 1: a scale. I think in some ways, you know, longer term,

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Speaker 1: this is a really smart move. The oversight board is

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Speaker 1: independent from Facebook. You know, there's a question of how independent,

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Speaker 1: but I think they really ace their first big test,

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Speaker 1: and and Facebook honestly is probably gonna benefit by having

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Speaker 1: them become even more independent, even if they issue rulings

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Speaker 1: that Facebook doesn't agree with because every bit of criticism

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Speaker 1: that goes to the oversight board criticism that's not going

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Speaker 1: directly at Facebook. Of course, Facebook also doesn't necessarily need

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Speaker 1: Donald Trump, right, But as you say, Donald Trump in

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Speaker 1: some ways kind of needs Facebook in order to reach

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Speaker 1: his base. But on that point, Trump has added a

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Speaker 1: new feature to his pack website, a section called from

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Speaker 1: the Desk of Donald J. Trump, and it's essentially working

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Speaker 1: as a Twitter feed. It allows him to pose press

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Speaker 1: releases videos and then his supporters can then repost them

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Speaker 1: on Facebook and Twitter, so we can kind of get

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Speaker 1: around this. Well, yes, that's true, and I saw that

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Speaker 1: that came up. I think it was yesterday that that

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Speaker 1: went live. But I could stand up a blog site tomorrow.

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Speaker 1: That doesn't mean anybody's gonna come to it, right, And again,

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Speaker 1: I'm not confusing myself with the popularity of the former president,

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Speaker 1: but it's it's illustrative. What Facebook, Twitter and the other

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Speaker 1: social networks have is millions or in many cases billions

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Speaker 1: of users and a daily habit of usage. So only

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Speaker 1: President Trump's former President Trump's most fervent fans are going

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Speaker 1: to go to his blog site every day to see

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Speaker 1: what he said. You know, it's been fifteen minutes. Did

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Speaker 1: he see something else? Contract that with what he was

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Speaker 1: able to do, specifically with Twitter, and he was able

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Speaker 1: to get his message, usually quite provocative by design, in

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Speaker 1: front of the world's journalists, and and they, you know,

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Speaker 1: would write about it. And so I've long said that

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Speaker 1: President Trump's former President Trump's superpower, if he had one

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Speaker 1: in social media was not his ability to tweet. It

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Speaker 1: was his ability to get the media to write and

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Speaker 1: cover what he tweeted. And and so that still is

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Speaker 1: not there. He can put whatever he wants on his site.

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Speaker 1: Of course it's his sight, but that doesn't mean anybody's

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Speaker 1: going to notice it other than maybe his most fervent supporters.

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Speaker 1: How is Facebook doing otherwise in fighting against lies and

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Speaker 1: misinformation that you know, change American lives? Well, I think

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Speaker 1: it's a game of whack a mole, you know, which

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Speaker 1: is a slang analogy, but it seems incredibly apt here.

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Speaker 1: There is no winning against live and misinformation, and I

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Speaker 1: think that would be the wrong way to even try

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Speaker 1: to frame the problem. I think all they can do

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Speaker 1: is hope to contain it and to come up with

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Speaker 1: a set of standards and to have those standards evolve

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Speaker 1: and improve over time as they can front difficult issues.

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Speaker 1: And I actually think the oversight board is going to

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Speaker 1: play an important role that you know, Mark Zuckerberg compared

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Speaker 1: this to Facebook Supreme Court. In many ways, that's not

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Speaker 1: a good analogy, because the Supreme Court is a you know,

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Speaker 1: part of the Constitution in a judicial branches, separate but

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Speaker 1: equal and all those things. But in other ways it

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Speaker 1: really is quite aptive. Facebook and more broadly, all big

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Speaker 1: tech platforms can benefit from. How thing a quanti independent

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Speaker 1: at this point. Maybe at some point a fully independent

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Speaker 1: board that can confront these issues absorb the criticism that

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Speaker 1: goes along with them, but some legitimacy that's really not

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Speaker 1: there right now well, and especially in their involvement in

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Speaker 1: the elections of the future. In GYM, we only have

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Speaker 1: about a minute left. But of course President Trump wasn't

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Speaker 1: actively running for president when these bands were put in place.

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Speaker 1: He maybe thought the election wasn't over, but it was.

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Speaker 1: If he runs again. In our Facebook and Twitter are

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Speaker 1: going to be forced to reconsider. I don't know about force,

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Speaker 1: but they definitely are thinking about that. And he wasn't running,

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Speaker 1: but he was the standing U s president at that point.

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Speaker 1: I mean, so it's tode platform a duly elected US president.

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Speaker 1: So I think that goes back to the same thing.

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Speaker 1: If he declares his candidacy and he's certainly a legitimate

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Speaker 1: candidate for president, you know, you've got a different set

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Speaker 1: of standards. But I don't think that gives him a

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Speaker 1: blank check. I think what Facebook, in by extension Twitter,

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Speaker 1: need to do is say, Okay, these are the circumstances

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Speaker 1: under which any candidate and including Trump can can you

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Speaker 1: post things? And these are the things that get the

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Speaker 1: account banned or taken down or suspended? All right, Jim,

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Speaker 1: thanks so much for joining us. Jim Anderson there he

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Speaker 1: is the CEO of Social Flow and talking to us

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Speaker 1: about um Facebook's ban of continued ban of Donald Trump.

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Speaker 1: And I'll remember it's only six months, so we'll probably

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Speaker 1: revisit this, but hopefully doctor to Jim a little bit

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Speaker 1: sooner than that. This is Bloomberg. Let's talk now about

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Speaker 1: climate change and the impact of real estate and construction

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Speaker 1: on global warming. For that, we bring in Jordan Goldstein.

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Speaker 1: He's a global design director at the biggest architecture and

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Speaker 1: design firm in the world, Gensler Um Jordan's. First off,

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Speaker 1: how did you get into this topic? I mean, I

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Speaker 1: know it's kind of u um um the topic de

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Speaker 1: jure currently. Uh, maybe that's taking it a little lightly,

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Speaker 1: but uh, what what interested you in your industry's impact

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Speaker 1: on climate? Well, first, thanks for having me on. It's

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Speaker 1: great to be with you. You know, for us, we

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Speaker 1: realized that the global footprint of our work was really

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Speaker 1: an opportunity to not just create great impact through design,

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Speaker 1: but looking at all the materials that we are working

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Speaker 1: with and all the design projects, whether that's new buildings

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Speaker 1: or interior projects, that gives us an opportunity to really

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Speaker 1: think about that impact on the on the climate and

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Speaker 1: how we can really optimize energy use and reduce carbon

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Speaker 1: impact through our work in the built environment. Well, of course,

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Speaker 1: there is making what you're doing more climate friendly. There

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Speaker 1: is also making what you're doing more resilient climate change, Right,

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Speaker 1: how do you build buildings that are built for extreme

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Speaker 1: weather events and some of these other phenomena. Yeah, it's

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Speaker 1: really interesting if you look at just the last you know,

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Speaker 1: fourteen months that we've been through this pandemic, it's you

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Speaker 1: on top of the pandemic, all the climate issues that

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Speaker 1: we've seen through extreme weather. You know, it's it's a

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Speaker 1: it's a tremendous opportunity to really rethink how we are building.

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Speaker 1: And one of those is really thinking about how we

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Speaker 1: can look at you know, what's old as being new

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Speaker 1: and really being able to have adaptive reuse on facilities

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Speaker 1: and buildings you know, around certainly around the US and abroad.

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Speaker 1: Looking at Miami, for instance, we did a study with

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Speaker 1: one of the universities there that looked at the rising

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Speaker 1: sea water issues and how instead of trying to really

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Speaker 1: fight that, you know, through all these preventive measures, we

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Speaker 1: can actually design buildings that start to and work with

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Speaker 1: existing buildings to think about what happens as this occurs

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Speaker 1: and how the building can adapt. You know, how can

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Speaker 1: we look at, for instance, second floor entry ways, How

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Speaker 1: can we look at connectivity between buildings and campuses that

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Speaker 1: are above ground, And how can we actually look at

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Speaker 1: rooftops and facade materials to be more uh absorbative for

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Speaker 1: to the climate. So how can we actually use rooftops

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Speaker 1: as an example to absorb rainwater, to actually harvest that

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Speaker 1: rainwater and use that as part of the you know,

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Speaker 1: the way we actually treat the building and actually UH,

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Speaker 1: operate the building. The idea is so cool. I mean,

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Speaker 1: having maybe a waterproof first floor so that on days

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Speaker 1: when the water is too high, you're looking right out

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Speaker 1: into the sea. UM. What what about the uh, the

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Speaker 1: new administration's climate goals and maybe more importantly infrastructure spending.

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Speaker 1: How does that play into both of those things? Building

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Speaker 1: you know, better for the climate and also um, building

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Speaker 1: better to deal with the inclement weather. Well, sure, the

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Speaker 1: you know, the Biden administration goals are are for equitable

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Speaker 1: all electric UM, you know, uh, lower embodied carbon future.

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Speaker 1: And I think there's a tremendous opportunity you know, from

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Speaker 1: a market st end point, you know, for the funding

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Speaker 1: UM and the opportunities for public private investment in projects

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Speaker 1: that have these same goals. You know, certainly the greening

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Speaker 1: kind of the renewable look of our electric grid UH

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00:23:14,320 --> 00:23:18,040
Speaker 1: and building more resiliency in those grids to avoid events

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Speaker 1: like we saw you know in Texas recently as an example,

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Speaker 1: offer you know, tremendous opportunity. UM. I think that the

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Speaker 1: actions that they've put forward also really empowers more innovation,

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00:23:31,480 --> 00:23:34,240
Speaker 1: uh in the industries that are that are creating the

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00:23:34,320 --> 00:23:38,800
Speaker 1: things that use and save power. You know, lighting appliances, elevators,

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00:23:38,960 --> 00:23:42,800
Speaker 1: HVAC systems, and even window technologies that are used you know,

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Speaker 1: for the skins of buildings. Yeah, super cool, Jordan. We

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Speaker 1: only have about a minute left, but I want to

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Speaker 1: ask you about rising materials costs. Just today, US lumber

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00:23:51,160 --> 00:23:55,160
Speaker 1: futures fresh record high. How is that impacting your work?

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Speaker 1: Are you struggling with sourcing and the pricing of some

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Speaker 1: of the materials you're using? Yeah, it is, It is

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Speaker 1: really Um, it's hard to it's hard to see all

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Speaker 1: this rising costs and not start to think about how

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Speaker 1: the material palettes for our buildings, buildings have to be different.

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Speaker 1: The rising lumber costs, rising steel costs over the last

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Speaker 1: you know, a couple of months for example. Uh and frankly,

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Speaker 1: the lead time issues, so there's that supply chain disruption

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Speaker 1: that we've seen with COVID, you know, you know, we've

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Speaker 1: we've actually found that it's been estimated that the harvesting, manufacturer,

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Speaker 1: and transportation of raw materials used in building construction is

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Speaker 1: responsible for eleven eleven of global emissions. So it's caused

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Speaker 1: us to really think about how can we actually reuse materials?

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Speaker 1: You know, when we think about structures of buildings. Those

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Speaker 1: can last a long time, you know. So how do

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Speaker 1: we actually when we think about buildings, do we always

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Speaker 1: have to build new and we actually use and how

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Speaker 1: for instance lumber. I've actually on a lot of projects

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Speaker 1: recently have been reusing lumber, and there's companies out there

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Speaker 1: now that actually salvage lumber from projects and make that

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Speaker 1: available for use and new buildings. Jordan, thanks so much

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Speaker 1: for joining us. Jordan Goldstein, Global Design director at Genzler.

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Speaker 1: Thanks for listening to the Bloomberg Markets podcast. You can

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00:25:12,119 --> 00:25:15,879
Speaker 1: subscribe and listen to interviews with Apple Podcasts or whatever

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00:25:16,000 --> 00:25:19,639
Speaker 1: podcast platform you prefer. I'm Matt Miller. I'm on Twitter

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00:25:19,920 --> 00:25:23,399
Speaker 1: at Matt Miller three. Put on Fall Sweeney. I'm on

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00:25:23,440 --> 00:25:26,359
Speaker 1: Twitter at pt Sweeney. Before the podcast, you can always

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00:25:26,400 --> 00:25:28,240
Speaker 1: catch us worldwide at Bloomberg Radio