WEBVTT - Shifting Values And Staying Motivated At Work 0:00:00.800 --> 0:00:04.040 Welcome to the Bloomberg Markets Podcast. I'm Paul Sweeney alongside 0:00:04.040 --> 0:00:06.920 my co host Matt Miller. Every business day, we bring 0:00:06.960 --> 0:00:11.520 you interviews from CEOs, market pros, and Bloomberg experts, along 0:00:11.560 --> 0:00:15.560 with essential market moving news. Find the Bloomberg Markets podcast 0:00:15.560 --> 0:00:18.479 called Apple Podcasts or wherever you listen to podcasts, and 0:00:18.480 --> 0:00:23.439 at Bloomberg dot com slash podcast. Speaking of tiny little tantrums, 0:00:23.440 --> 0:00:25.880 that's something you don't want from your employees. And we've 0:00:25.880 --> 0:00:29.040 got a guest here who has an AI platform that 0:00:29.160 --> 0:00:33.480 helps you deal with employee motivation and retention maybe more 0:00:33.479 --> 0:00:35.440 important than ever right now as you try and get 0:00:36.080 --> 0:00:38.279 workers to come back and stay. Casey Wall joins US 0:00:38.320 --> 0:00:42.279 chief executive officer and co founder of Attuned out of Tokyo. 0:00:42.920 --> 0:00:46.319 Casey Um, talk to me about what your platform can 0:00:46.360 --> 0:00:50.080 offer employers right now. Yeah, I think with everything that's 0:00:50.120 --> 0:00:52.839 going on in the world, so many changes and like 0:00:52.920 --> 0:00:55.760 people are looking to change jobs right now, and how 0:00:55.800 --> 0:00:58.160 do you understand the other people really? And that's what 0:00:58.200 --> 0:01:00.320 we kind of help with, right and so what we're 0:01:00.360 --> 0:01:04.560 making is kind of the what usually is invisible able 0:01:04.600 --> 0:01:07.280 to be seen. So people's intrinsic motivation, you get it 0:01:07.319 --> 0:01:09.640 through data. So now when you kind of can't go 0:01:09.680 --> 0:01:12.200 into the offices, you can kind of feel what's going 0:01:12.240 --> 0:01:14.319 on in the room. You can't see people, there's no 0:01:14.360 --> 0:01:17.440 more management. By walking around, you can see what most 0:01:17.560 --> 0:01:19.880 resonates with people. And then now, because of all the changes, 0:01:19.920 --> 0:01:22.800 how people's values are in their goals are are shifting, 0:01:23.120 --> 0:01:25.200 and we get that to kind of all the managers 0:01:25.200 --> 0:01:27.679 and data so they can have the right communications, the 0:01:27.760 --> 0:01:30.039 right one on ones and keep people motivated for what 0:01:30.200 --> 0:01:33.080 is most meaningful to them. Right, And there's all these 0:01:33.120 --> 0:01:37.040 different types of motivations, right, casey. It can be altruism, competition, 0:01:37.200 --> 0:01:41.520 financial status. Is there one that is the prominent driver? 0:01:41.680 --> 0:01:44.280 And have you seen that kind of change in the 0:01:44.280 --> 0:01:48.880 pandemic world? I think that's the beauty of it. There's everybody, 0:01:48.880 --> 0:01:51.880 like everybody's motivation is like a fingerprint. What we found 0:01:51.920 --> 0:01:55.320 is there's one point seven million different combinations of motivations. 0:01:55.560 --> 0:01:57.480 And this is why it's so hard to be a manager. 0:01:57.680 --> 0:02:00.000 But I think your question is, you know since this pandemic, 0:02:00.040 --> 0:02:02.640 because what has really changes, you know, some of the 0:02:02.720 --> 0:02:05.480 motivations across the boards, across the thousands of people you 0:02:05.520 --> 0:02:08.840 know that have taken the assessment and who's intrinsic motivations 0:02:08.880 --> 0:02:12.240 we know have changed and the biggest one is rationality. 0:02:12.760 --> 0:02:16.000 And I think across the organizations a lot more, you know, 0:02:16.200 --> 0:02:20.160 team members and employees are looking for a more logical 0:02:20.240 --> 0:02:25.000 explanation from their organization, from their managers because there's so 0:02:25.080 --> 0:02:27.080 much uncertainty what's going on, and just had a little 0:02:27.080 --> 0:02:29.360 bit more kind of understanding what the company is going 0:02:29.400 --> 0:02:31.360 to do, what are our goals, what's my meaning for this, 0:02:31.639 --> 0:02:34.480 and just explain logically if anybody's listening, that's probably the 0:02:34.520 --> 0:02:38.400 biggest takeaway and what people need right now. For me, 0:02:38.520 --> 0:02:41.360 if my boss likes me, if I think he or 0:02:41.400 --> 0:02:43.000 she likes me, that's all I need. They're not to 0:02:43.000 --> 0:02:45.600 pay me at all. Really, I just want to be liked. 0:02:45.760 --> 0:02:49.320 Casey Um, talk to me about the differences. You're American, 0:02:49.840 --> 0:02:52.080 but you're based out of Tokyo, and I know you 0:02:52.080 --> 0:02:55.040 grew up overseas as well. Why did you pick Japan? 0:02:56.600 --> 0:02:59.120 H Japan's kind of I think Japan kind of picked me. 0:02:59.160 --> 0:03:01.919 I think I went there for an adventure, but like now, 0:03:02.040 --> 0:03:04.680 you know, with a tuned especially, it's it's kind of 0:03:04.720 --> 0:03:07.600 a great place to be an entrepreneur, So, Japan is 0:03:07.639 --> 0:03:09.880 pretty unique. It's almost like kind of Mars on Earth 0:03:09.960 --> 0:03:12.480 to a certain degree, like it's a weird culture. It's 0:03:12.600 --> 0:03:15.680 really hard for kind of aggressive startups to come in 0:03:15.800 --> 0:03:18.840 because of the language barrier and the cultural barrier and 0:03:18.880 --> 0:03:21.120 all the weird kind of quirks to do. So, you know, 0:03:21.160 --> 0:03:24.640 we've got very loyal Japanese customers and it takes a 0:03:24.680 --> 0:03:27.400 long time to get like a Japanese customer um. But 0:03:27.480 --> 0:03:29.919 then we have this huge mode so like really kind 0:03:29.919 --> 0:03:32.520 of well funded aggressive firms get really difficult to go in, 0:03:32.560 --> 0:03:35.480 so we can get this kind of base of close customers, 0:03:35.560 --> 0:03:39.040 kind of cash flow. Cash is really cheap in Japan, 0:03:39.400 --> 0:03:40.960 and then you can grow kind of grow fast in 0:03:41.040 --> 0:03:43.400 Japan and kind of attack globally from there. Is it's 0:03:43.480 --> 0:03:46.040 kind of the perspective I look at it. So you know, 0:03:46.040 --> 0:03:48.400 if there's anybody looking for a cool place and you 0:03:48.400 --> 0:03:53.160 can hire really really good people, well I would recommend Toka. 0:03:53.240 --> 0:03:54.720 I would like to pick up on that point, what 0:03:54.920 --> 0:03:57.480 is the hiring environment like in Japan? Because here in 0:03:57.520 --> 0:03:59.480 the U S we're hearing from a lot of businesses 0:03:59.600 --> 0:04:02.280 that they have positions that they are struggling to fill 0:04:02.320 --> 0:04:05.440 they just can't find qualified workers. Is it the same 0:04:05.440 --> 0:04:08.240 in Japan. Yeah, it's the same in Japan. I think 0:04:08.240 --> 0:04:10.440 it's really the same everywhere. And and really, you know, 0:04:10.480 --> 0:04:13.680 how many kind of new technology jobs and like jobs 0:04:13.720 --> 0:04:16.400 that are being created like now and that aren't so important, right, 0:04:16.440 --> 0:04:18.560 Like all the cryptocurrency jobs that are being created, they 0:04:18.560 --> 0:04:20.600 didn't exist five to seven years ago type of thing 0:04:20.680 --> 0:04:23.400 like that. You know, like a community manager, you know, 0:04:23.440 --> 0:04:25.400 for a lot of kind of technology companies or even 0:04:25.400 --> 0:04:27.680 gaming companies are are kind of new jobs. So there's 0:04:27.720 --> 0:04:30.320 not these kind of deep pools of talent, and companies 0:04:30.320 --> 0:04:33.320 are creating new jobs, like tech companies kind of around 0:04:33.320 --> 0:04:37.040 the world, like we see demands kind of everywhere. So like, 0:04:37.080 --> 0:04:39.320 I think that struggle for talent is real, which goes 0:04:39.320 --> 0:04:41.839 back to you've got to hold on and really kind 0:04:41.839 --> 0:04:45.760 of motivate the people that you have. Very cool, Thanks 0:04:45.760 --> 0:04:48.039 so much for joining us. Casey Wall there. He's the 0:04:48.080 --> 0:04:50.960 CEO and co founder of a Tuned. It's an AI 0:04:51.080 --> 0:04:56.760 platform that helps employers deal with motivation and retention of workers, 0:04:56.760 --> 0:05:01.320 and it's used by some of Japan's biggest brands. Denzo Kaplan, 0:05:01.520 --> 0:05:06.000 we said, also Recutan, which which is huge. I mean, 0:05:06.040 --> 0:05:10.159 I'm into Japanese leather and denim, and that's a great 0:05:10.200 --> 0:05:11.919 place to buy that kind of stuff. Casey, thanks so 0:05:12.000 --> 0:05:18.520 much for joining us well. Shares of Herbal Life are 0:05:18.600 --> 0:05:23.160 up about eight percent today, best day since July, after 0:05:23.200 --> 0:05:27.200 the company's positive first quarter results and outlook. Joining us 0:05:27.240 --> 0:05:31.080 now is Alex Misqueta, the company's CFO, and Jog John Agunoby, 0:05:31.200 --> 0:05:34.599 the CEO of Herbal Life. Alex John, it's great to 0:05:34.600 --> 0:05:38.200 have you both. Alex will start with you. Nineteen percent 0:05:38.279 --> 0:05:41.320 sales growth really solid in the first quarter, but can 0:05:41.360 --> 0:05:43.560 you keep that up? How tough are your comps going 0:05:43.600 --> 0:05:47.360 to be going into the second half of the year. Oh, 0:05:47.440 --> 0:05:51.200 thank thanks for the question. UM, and growth that we 0:05:51.240 --> 0:05:54.200 saw in the first quarter is actually results. We're seeing 0:05:54.480 --> 0:05:58.160 UM this elevated demand for about two quarters since the 0:05:58.200 --> 0:06:01.240 middle of two thousand twenty UM. But the growth is 0:06:01.279 --> 0:06:04.680 not new to us. We have been growing our markets. 0:06:04.920 --> 0:06:08.080 For example, Europe has been growing for forty four straight quarters. 0:06:08.600 --> 0:06:10.800 The US has been growing for thirteen straight quarters, so 0:06:10.880 --> 0:06:13.360 growth is not new to us. I think the elevated 0:06:13.360 --> 0:06:16.040 demand that we're seeing is just as consumer trends shift 0:06:16.120 --> 0:06:19.960 towards UH making more of a focus of what people 0:06:20.000 --> 0:06:22.679 are putting inside their body, making a connection between health 0:06:22.920 --> 0:06:26.400 and nutrition and so um, the growth that we see 0:06:26.960 --> 0:06:29.120 uh this past quarter, in the past couple of quarters 0:06:29.160 --> 0:06:31.400 is something that we foresee seeing for us to the 0:06:31.440 --> 0:06:34.320 rest of the year, with growth expected to be in 0:06:34.680 --> 0:06:38.080 the mid double digits. So, Alex, what was different during 0:06:38.120 --> 0:06:41.360 the pandemic? I mean, how did for example, Herbal Life 0:06:41.560 --> 0:06:46.200 sales strategy change during lockdowns. Well, we had to do 0:06:46.279 --> 0:06:49.720 a lot of changing and working with our channel to 0:06:49.920 --> 0:06:53.640 shift how people were getting their nutritional So, as you 0:06:53.680 --> 0:06:56.880 could imagine, there's a lot of in person prior to 0:06:56.960 --> 0:07:00.839 the pandemic, and so the entrepreneurial nature of our channel 0:07:01.000 --> 0:07:04.040 is really figuring out how do we switch from in 0:07:04.160 --> 0:07:10.520 person m mechanisms to using technology, doing take out, doing 0:07:10.640 --> 0:07:13.800 home delivery, just really thinking about how to be creative 0:07:13.840 --> 0:07:16.560 outside of the traditional way that we've done the business, 0:07:16.800 --> 0:07:20.520 which is in person and nutrition clubs and face to face. Well, 0:07:20.560 --> 0:07:23.240 and John, of course, you began your tenure on March 0:07:23.320 --> 0:07:26.880 thirtieth last year, right in the thick of the pandemic crisis. 0:07:27.560 --> 0:07:29.400 How do you see the changes you've made at the 0:07:29.440 --> 0:07:34.120 HELM lasting in the post pandemic world. You know, Kylee, 0:07:34.440 --> 0:07:36.120 there are a number of things that I think are 0:07:36.200 --> 0:07:41.280 going to hold true well beyond the pandemic. The first 0:07:41.280 --> 0:07:45.960 would be the acceleration of our digital strategy, so so 0:07:46.000 --> 0:07:49.280 many of our distributors have now moved the center of 0:07:49.320 --> 0:07:54.280 their business UM on onto online platforms and social media 0:07:54.360 --> 0:07:57.160 platforms that I think is going to hold, is going 0:07:57.200 --> 0:08:00.240 to hold and continue into the future. The sales force 0:08:00.280 --> 0:08:03.480 itself has grown dramatically over the course of my my 0:08:03.640 --> 0:08:07.320 one year in the job UM, and that salesforce has 0:08:07.400 --> 0:08:11.360 become better able, I think, better connected, and better related, 0:08:11.520 --> 0:08:15.040 better relates to its customers today as those customers have 0:08:15.360 --> 0:08:19.200 improved an increased demand for health products. People are much 0:08:19.240 --> 0:08:22.520 more aware of the importance of health, of the importance 0:08:22.560 --> 0:08:25.280 of their of their of exercise, and of good nutrition. 0:08:25.560 --> 0:08:28.840 And our distributors, who serve as coaches in each of 0:08:28.840 --> 0:08:32.200 the communities where they work around the world, they're better 0:08:32.280 --> 0:08:35.880 prepared today than ever before to address those needs. Lastly, 0:08:35.920 --> 0:08:38.120 I would just add that UM, one of the things 0:08:38.120 --> 0:08:40.200 that we've really begun to I think do with our 0:08:40.240 --> 0:08:44.160 strategy as product moving our products so that it's not 0:08:44.360 --> 0:08:48.000 just about weight management, which was our legacy, and it's 0:08:48.040 --> 0:08:51.000 still one of our core businesses. We've now begun to 0:08:51.080 --> 0:08:55.680 move dramatically into sports nutrition and we've taken our line 0:08:55.679 --> 0:08:58.640 of sports nutrition is called Urbalized twenty four, and we've 0:08:58.679 --> 0:09:01.280 now begun to take it into me new countries around 0:09:01.280 --> 0:09:04.760 the world. We're ninety markets, as you know, and but 0:09:04.880 --> 0:09:07.840 our sports nutrition product was only in a portion of them, 0:09:08.040 --> 0:09:11.239 and so we're increasing the march around the world expanding 0:09:11.440 --> 0:09:15.360 access to that product life. It's grown actually, as I recall, 0:09:15.600 --> 0:09:19.679 thirty four um in in just the last the first quarter, 0:09:20.000 --> 0:09:23.360 so that that that particular space sports nutrition is also 0:09:23.440 --> 0:09:25.680 gonna be a very big part of our future. I 0:09:25.760 --> 0:09:29.600 wonder John, you have uh a lot of experience working 0:09:29.600 --> 0:09:31.840 in government. You started out in Florida. Then you are 0:09:31.840 --> 0:09:35.199 the Assistant Secretary of Health for the US Department of 0:09:35.240 --> 0:09:38.400 Health and Human Services. I guess before you went to 0:09:38.400 --> 0:09:42.440 to Walmart to run their health and wellness business. Um. 0:09:42.559 --> 0:09:46.120 Do you think the Biden push, this new administration's push 0:09:46.400 --> 0:09:49.480 towards nutrition and health because there's a lot of spending 0:09:50.200 --> 0:09:53.880 in the infrastructure built on that. Do you think Herbal 0:09:53.880 --> 0:09:57.480 Life is going to be able to take advantage of that? Yeah? 0:09:57.640 --> 0:09:59.800 I won't. I won't speak to Herbal Life as a 0:10:00.000 --> 0:10:02.520 Pacific company. And as I said, we're in ninety four 0:10:02.559 --> 0:10:05.480 countries around the world. The US is a little more 0:10:05.520 --> 0:10:09.520 than I think twenty four of that UM in terms 0:10:09.520 --> 0:10:12.040 of top line sales. But I will say this that 0:10:12.200 --> 0:10:16.040 UM I do believe that it's an investment in the 0:10:16.080 --> 0:10:21.200 future of the country. UM investing in healthy nutrition long 0:10:21.400 --> 0:10:25.520 term should help reduce the accelerated cost of healthcare or 0:10:25.559 --> 0:10:29.000 at least slow the growth of of of healthcare expenditures. 0:10:29.120 --> 0:10:32.360 As a company, we are a very flexible entity. We 0:10:32.360 --> 0:10:36.559 we've we've evolved over time, and as the nation's demand 0:10:36.760 --> 0:10:41.760 for nutrition increases, I for good nutrition increases, for healthy nutrition, 0:10:42.160 --> 0:10:45.280 UM I can assure you that our distributors, our company 0:10:45.559 --> 0:10:49.400 will pivot and moves and flex and and respond so 0:10:49.440 --> 0:10:51.400 that if there are needs that we can help with, 0:10:51.600 --> 0:10:54.520 will be there to deliver them well. Alex, talking about 0:10:54.520 --> 0:10:57.080 the different countries in which you operate, you saw revenue 0:10:57.120 --> 0:11:00.280 gains pretty much across most regions, but not in Nina. 0:11:01.120 --> 0:11:03.360 What's going on in that market and will we see 0:11:03.360 --> 0:11:05.400 more growth in China in the back half of the year. 0:11:07.120 --> 0:11:10.400 So China is going through a transition where we are 0:11:11.400 --> 0:11:17.080 going through a change to encourage behaviors for that market 0:11:17.360 --> 0:11:20.360 to have more stability in the market. So over the 0:11:20.360 --> 0:11:23.760 past twenty quarters, China has been up ten quarters and 0:11:23.760 --> 0:11:26.320 it's been down ten quarters, and it's been up and 0:11:26.360 --> 0:11:30.559 down changing directions nine times out of that time period. 0:11:30.920 --> 0:11:35.040 We're looking to employ UM a business model there to 0:11:35.160 --> 0:11:37.920 help with the stability in that market, and to do 0:11:38.000 --> 0:11:41.839 so that requires some behavioral changes, that require some technology, 0:11:42.160 --> 0:11:44.800 that requires some some of the learnings that we've had 0:11:44.840 --> 0:11:46.959 in the US and in some of our other markets 0:11:47.040 --> 0:11:50.000 and bring that into China. So as we go through 0:11:50.000 --> 0:11:53.240 that transition, there is some short term disruption as we 0:11:53.280 --> 0:11:55.360 make that change, and that's what we've been going through 0:11:55.360 --> 0:11:57.640 in the fourth quarter and continue to go through in 0:11:57.679 --> 0:11:59.600 the first quarter. In fact, our first quarter, even though 0:11:59.600 --> 0:12:02.000 it was down, landed right where we thought it would be. 0:12:02.120 --> 0:12:06.280 So our expectations for the transition that we are expecting 0:12:06.720 --> 0:12:10.160 UM is right on target, and we anticipate that transition 0:12:10.200 --> 0:12:13.840 to take a few potentially a few quarters. UM The 0:12:13.920 --> 0:12:17.120 expectation is that we return to growth by the end 0:12:17.160 --> 0:12:19.640 of this year, but this is going to be a journey. 0:12:20.280 --> 0:12:23.240 The most important thing that I want to say is 0:12:23.280 --> 0:12:26.720 that the long term growth opportunity in China is still intact. 0:12:27.360 --> 0:12:29.440 Sometimes when we have these changes that we make in 0:12:29.480 --> 0:12:31.360 the market, it takes a few quarters for that to 0:12:32.040 --> 0:12:34.360 turn around, but then we reap the rewards for that 0:12:34.440 --> 0:12:35.840 on the other side of that, And that's what we're 0:12:35.880 --> 0:12:38.800 looking forward to as we keep going here in China. 0:12:39.280 --> 0:12:41.040 John and Alex, thanks so much for joining us on 0:12:41.040 --> 0:12:44.240 the program today. John Aguinobi is the CEO of Herbal 0:12:44.280 --> 0:12:48.400 Life Nutrition. Alex ms Kite is the chief financial officer. 0:12:48.559 --> 0:12:57.840 After earnings and lifting their guidance, this is Bloomberg Matt 0:12:57.920 --> 0:13:01.000 Let's talk about the big decision out of Facebook today. 0:13:01.200 --> 0:13:05.320 Donald Trump remains banned from the social network, at least 0:13:05.320 --> 0:13:09.679 for now. The company's oversight board, which of course operates independently, 0:13:10.200 --> 0:13:12.280 said that the band can stay in place, but it 0:13:12.320 --> 0:13:15.640 also recommended Facebook review it within six months. So this 0:13:15.720 --> 0:13:17.960 is an ongoing story and we do know. How do 0:13:18.120 --> 0:13:21.679 now have the reaction from the former president putting out 0:13:21.679 --> 0:13:24.600 a statement saying Facebook, Twitter and Google have what they 0:13:24.600 --> 0:13:27.520 have done is a total disgrace and an embarrassment to 0:13:27.679 --> 0:13:30.360 our country. He goes on to say these corrupt social 0:13:30.360 --> 0:13:34.000 media companies must pay a political price. So joining us 0:13:34.000 --> 0:13:38.720 now to discuss is Jim Anderson, Social Flow CEO Full Disclosure. 0:13:38.840 --> 0:13:41.959 Social Flow is a platform used by Bloomberg for social 0:13:42.000 --> 0:13:45.320 media purposes. Jim, great to have your insight here. What 0:13:45.520 --> 0:13:49.280 is your immediate reaction to this Advisory Board decision? Are 0:13:49.280 --> 0:13:53.120 you surprised? Yeah, Kelly, I'm a little surprised because they 0:13:53.480 --> 0:13:55.960 you know, they are staffed with quite a few free 0:13:55.960 --> 0:13:58.599 speech advocates, so I think a lot of people were expecting, 0:13:59.160 --> 0:14:00.960 all things being equal, for them to come down on 0:14:00.960 --> 0:14:02.959 the side of free speech. So I think this is 0:14:03.000 --> 0:14:05.600 a pretty significant defeat for former President Trump. And you 0:14:05.640 --> 0:14:07.960 see that reflected in his statement. Uh, you know, as 0:14:08.040 --> 0:14:09.920 much as he says he doesn't need Facebook and Twitter, 0:14:09.960 --> 0:14:12.000 it's it's clear he can't reach the match of those 0:14:12.000 --> 0:14:14.960 platforms on his own. And the decision, there was a 0:14:15.000 --> 0:14:17.480 sentence in the decision that I think is overlooked because 0:14:17.480 --> 0:14:18.960 there's so much in there, but it said that the 0:14:19.000 --> 0:14:21.920 board found, in maintaining an unfounded narrative of what of 0:14:21.960 --> 0:14:25.480 electoral fraud and persistent calls to action, that you know, 0:14:25.520 --> 0:14:28.480 Trump created an environment where a serious risk of violence 0:14:28.520 --> 0:14:31.360 was possible. That that's a pretty strong statement. Of course, 0:14:31.360 --> 0:14:33.280 they did kick it back to Facebook to say you 0:14:33.320 --> 0:14:35.760 need to come up with something better than an indefinite 0:14:35.800 --> 0:14:37.960 Dand so that's a that's a partial victory or a 0:14:37.960 --> 0:14:39.800 silver lining, as he will. That may be Facebook will 0:14:39.880 --> 0:14:42.400 revisit that, but it was a pretty clear decision by 0:14:42.400 --> 0:14:46.040 the overside board. How does this affect you think Facebook's business? 0:14:47.600 --> 0:14:49.760 I think it has very little impact, honestly, one way 0:14:49.840 --> 0:14:52.560 or another. Mark Zuckerberg was quoted in a pretty candid 0:14:52.560 --> 0:14:54.600 moment at one point, this is six months or a 0:14:54.680 --> 0:14:57.400 year ago, saying, hey, this is uh, you know, not 0:14:57.440 --> 0:15:00.000 really having that much of a positive impact on our business. 0:15:00.000 --> 0:15:01.960 We probably be better off it just went away because 0:15:01.960 --> 0:15:04.160 the controversy is more than we want to deal with. 0:15:04.480 --> 0:15:07.040 But honestly, Facebook, we just saw their earnings last week, right, 0:15:07.040 --> 0:15:10.560 They just continue to meant record earnings. They have such 0:15:10.600 --> 0:15:14.080 a scale. I think in some ways, you know, longer term, 0:15:14.200 --> 0:15:17.360 this is a really smart move. The oversight board is 0:15:17.440 --> 0:15:20.840 independent from Facebook. You know, there's a question of how independent, 0:15:21.240 --> 0:15:23.480 but I think they really ace their first big test, 0:15:23.600 --> 0:15:26.320 and and Facebook honestly is probably gonna benefit by having 0:15:26.320 --> 0:15:28.840 them become even more independent, even if they issue rulings 0:15:28.880 --> 0:15:31.880 that Facebook doesn't agree with because every bit of criticism 0:15:31.880 --> 0:15:34.520 that goes to the oversight board criticism that's not going 0:15:34.560 --> 0:15:38.800 directly at Facebook. Of course, Facebook also doesn't necessarily need 0:15:39.160 --> 0:15:41.640 Donald Trump, right, But as you say, Donald Trump in 0:15:41.680 --> 0:15:44.040 some ways kind of needs Facebook in order to reach 0:15:44.080 --> 0:15:46.520 his base. But on that point, Trump has added a 0:15:46.520 --> 0:15:49.640 new feature to his pack website, a section called from 0:15:49.640 --> 0:15:52.480 the Desk of Donald J. Trump, and it's essentially working 0:15:52.680 --> 0:15:54.720 as a Twitter feed. It allows him to pose press 0:15:54.760 --> 0:15:58.360 releases videos and then his supporters can then repost them 0:15:58.400 --> 0:16:01.160 on Facebook and Twitter, so we can kind of get 0:16:01.200 --> 0:16:04.840 around this. Well, yes, that's true, and I saw that 0:16:04.840 --> 0:16:06.480 that came up. I think it was yesterday that that 0:16:06.520 --> 0:16:09.200 went live. But I could stand up a blog site tomorrow. 0:16:09.240 --> 0:16:11.200 That doesn't mean anybody's gonna come to it, right, And again, 0:16:11.200 --> 0:16:14.280 I'm not confusing myself with the popularity of the former president, 0:16:14.520 --> 0:16:18.360 but it's it's illustrative. What Facebook, Twitter and the other 0:16:18.400 --> 0:16:22.000 social networks have is millions or in many cases billions 0:16:22.040 --> 0:16:25.600 of users and a daily habit of usage. So only 0:16:25.800 --> 0:16:28.880 President Trump's former President Trump's most fervent fans are going 0:16:28.920 --> 0:16:31.000 to go to his blog site every day to see 0:16:31.240 --> 0:16:33.560 what he said. You know, it's been fifteen minutes. Did 0:16:33.560 --> 0:16:35.840 he see something else? Contract that with what he was 0:16:35.880 --> 0:16:38.720 able to do, specifically with Twitter, and he was able 0:16:38.760 --> 0:16:42.160 to get his message, usually quite provocative by design, in 0:16:42.280 --> 0:16:45.520 front of the world's journalists, and and they, you know, 0:16:45.560 --> 0:16:47.800 would write about it. And so I've long said that 0:16:47.880 --> 0:16:51.160 President Trump's former President Trump's superpower, if he had one 0:16:51.200 --> 0:16:53.600 in social media was not his ability to tweet. It 0:16:53.680 --> 0:16:55.560 was his ability to get the media to write and 0:16:55.600 --> 0:16:59.480 cover what he tweeted. And and so that still is 0:16:59.520 --> 0:17:01.720 not there. He can put whatever he wants on his site. 0:17:01.720 --> 0:17:04.640 Of course it's his sight, but that doesn't mean anybody's 0:17:04.680 --> 0:17:08.200 going to notice it other than maybe his most fervent supporters. 0:17:08.200 --> 0:17:12.679 How is Facebook doing otherwise in fighting against lies and 0:17:12.760 --> 0:17:17.600 misinformation that you know, change American lives? Well, I think 0:17:17.640 --> 0:17:19.480 it's a game of whack a mole, you know, which 0:17:19.520 --> 0:17:22.520 is a slang analogy, but it seems incredibly apt here. 0:17:22.560 --> 0:17:25.679 There is no winning against live and misinformation, and I 0:17:25.720 --> 0:17:27.400 think that would be the wrong way to even try 0:17:27.440 --> 0:17:30.320 to frame the problem. I think all they can do 0:17:30.400 --> 0:17:32.480 is hope to contain it and to come up with 0:17:32.520 --> 0:17:36.200 a set of standards and to have those standards evolve 0:17:36.320 --> 0:17:39.359 and improve over time as they can front difficult issues. 0:17:39.400 --> 0:17:41.480 And I actually think the oversight board is going to 0:17:41.600 --> 0:17:44.520 play an important role that you know, Mark Zuckerberg compared 0:17:44.560 --> 0:17:47.280 this to Facebook Supreme Court. In many ways, that's not 0:17:47.359 --> 0:17:49.960 a good analogy, because the Supreme Court is a you know, 0:17:50.080 --> 0:17:53.119 part of the Constitution in a judicial branches, separate but 0:17:53.160 --> 0:17:54.879 equal and all those things. But in other ways it 0:17:54.920 --> 0:17:58.120 really is quite aptive. Facebook and more broadly, all big 0:17:58.160 --> 0:18:02.280 tech platforms can benefit from. How thing a quanti independent 0:18:02.320 --> 0:18:04.600 at this point. Maybe at some point a fully independent 0:18:04.640 --> 0:18:07.919 board that can confront these issues absorb the criticism that 0:18:07.920 --> 0:18:11.360 goes along with them, but some legitimacy that's really not 0:18:11.440 --> 0:18:14.119 there right now well, and especially in their involvement in 0:18:14.160 --> 0:18:16.000 the elections of the future. In GYM, we only have 0:18:16.040 --> 0:18:18.400 about a minute left. But of course President Trump wasn't 0:18:18.400 --> 0:18:21.480 actively running for president when these bands were put in place. 0:18:21.480 --> 0:18:23.879 He maybe thought the election wasn't over, but it was. 0:18:24.359 --> 0:18:28.119 If he runs again. In our Facebook and Twitter are 0:18:28.119 --> 0:18:31.520 going to be forced to reconsider. I don't know about force, 0:18:31.600 --> 0:18:34.040 but they definitely are thinking about that. And he wasn't running, 0:18:34.040 --> 0:18:36.600 but he was the standing U s president at that point. 0:18:36.600 --> 0:18:41.080 I mean, so it's tode platform a duly elected US president. 0:18:41.200 --> 0:18:43.400 So I think that goes back to the same thing. 0:18:43.400 --> 0:18:46.080 If he declares his candidacy and he's certainly a legitimate 0:18:46.080 --> 0:18:48.480 candidate for president, you know, you've got a different set 0:18:48.480 --> 0:18:49.960 of standards. But I don't think that gives him a 0:18:49.960 --> 0:18:52.640 blank check. I think what Facebook, in by extension Twitter, 0:18:52.720 --> 0:18:54.840 need to do is say, Okay, these are the circumstances 0:18:54.880 --> 0:18:58.399 under which any candidate and including Trump can can you 0:18:58.520 --> 0:19:00.560 post things? And these are the things that get the 0:19:00.640 --> 0:19:04.040 account banned or taken down or suspended? All right, Jim, 0:19:04.080 --> 0:19:06.760 thanks so much for joining us. Jim Anderson there he 0:19:06.880 --> 0:19:11.280 is the CEO of Social Flow and talking to us 0:19:11.320 --> 0:19:16.000 about um Facebook's ban of continued ban of Donald Trump. 0:19:16.000 --> 0:19:17.840 And I'll remember it's only six months, so we'll probably 0:19:17.840 --> 0:19:20.639 revisit this, but hopefully doctor to Jim a little bit 0:19:20.680 --> 0:19:28.200 sooner than that. This is Bloomberg. Let's talk now about 0:19:28.520 --> 0:19:32.320 climate change and the impact of real estate and construction 0:19:33.160 --> 0:19:36.040 on global warming. For that, we bring in Jordan Goldstein. 0:19:36.040 --> 0:19:39.439 He's a global design director at the biggest architecture and 0:19:39.520 --> 0:19:44.640 design firm in the world, Gensler Um Jordan's. First off, 0:19:44.840 --> 0:19:46.600 how did you get into this topic? I mean, I 0:19:46.640 --> 0:19:50.119 know it's kind of u um um the topic de 0:19:50.280 --> 0:19:53.520 jure currently. Uh, maybe that's taking it a little lightly, 0:19:53.600 --> 0:19:58.240 but uh, what what interested you in your industry's impact 0:19:58.320 --> 0:20:02.360 on climate? Well, first, thanks for having me on. It's 0:20:02.400 --> 0:20:04.719 great to be with you. You know, for us, we 0:20:04.760 --> 0:20:09.640 realized that the global footprint of our work was really 0:20:09.640 --> 0:20:13.240 an opportunity to not just create great impact through design, 0:20:13.440 --> 0:20:15.919 but looking at all the materials that we are working 0:20:15.960 --> 0:20:19.040 with and all the design projects, whether that's new buildings 0:20:19.600 --> 0:20:22.359 or interior projects, that gives us an opportunity to really 0:20:22.359 --> 0:20:25.680 think about that impact on the on the climate and 0:20:25.800 --> 0:20:30.399 how we can really optimize energy use and reduce carbon 0:20:30.440 --> 0:20:34.080 impact through our work in the built environment. Well, of course, 0:20:34.119 --> 0:20:37.200 there is making what you're doing more climate friendly. There 0:20:37.280 --> 0:20:41.640 is also making what you're doing more resilient climate change, Right, 0:20:41.640 --> 0:20:44.680 how do you build buildings that are built for extreme 0:20:44.720 --> 0:20:49.440 weather events and some of these other phenomena. Yeah, it's 0:20:49.440 --> 0:20:51.679 really interesting if you look at just the last you know, 0:20:51.720 --> 0:20:54.480 fourteen months that we've been through this pandemic, it's you 0:20:54.640 --> 0:20:57.320 on top of the pandemic, all the climate issues that 0:20:57.359 --> 0:21:02.119 we've seen through extreme weather. You know, it's it's a 0:21:02.240 --> 0:21:06.800 it's a tremendous opportunity to really rethink how we are building. 0:21:07.240 --> 0:21:09.800 And one of those is really thinking about how we 0:21:09.800 --> 0:21:12.280 can look at you know, what's old as being new 0:21:12.840 --> 0:21:16.800 and really being able to have adaptive reuse on facilities 0:21:16.880 --> 0:21:21.320 and buildings you know, around certainly around the US and abroad. 0:21:22.320 --> 0:21:26.520