WEBVTT - Deliveroo’s Debut Shunned by Investors Over Labor Practices 0:00:01.800 --> 0:00:04.400 This is Bloomberg Business Week. I'm Carol Masser and I'm 0:00:04.440 --> 0:00:07.280 Bloomberg Quick Takes Tim Stanibek. We're here every day bringing 0:00:07.280 --> 0:00:11.959 you the latest news from the world of business and finances, technology, politics, economics, 0:00:12.000 --> 0:00:14.960 all harnessing the power of Business Week reporters and editors, 0:00:15.120 --> 0:00:17.960 not to mention our journalists and analyst in more than 0:00:18.000 --> 0:00:22.120 one twenty countries. You can download Bloomberg Business Week and iTunes, SoundCloud, 0:00:22.239 --> 0:00:24.239 or Bloomberg dot Com. You can also listen to our 0:00:24.320 --> 0:00:27.080 radio show at two pm Eastern Time on Bloomberg Radio 0:00:27.240 --> 0:00:33.360 or watch us on YouTube search Bloomberg Global News. During 0:00:33.360 --> 0:00:36.400 a White House COVID nine Team Response Team briefing earlier today, 0:00:36.479 --> 0:00:40.479 CDC Director Rochelle will Lyndsky explained why Americans need to 0:00:40.479 --> 0:00:43.199 remain vigilant in fighting the virus check it out. This 0:00:43.320 --> 0:00:46.120 is a critical moment in our fight against the pandemic. 0:00:46.560 --> 0:00:50.239 As we see increases in cases, we can't afford to 0:00:50.320 --> 0:00:54.760 let our guard down. We are so close, so very 0:00:54.760 --> 0:00:57.720 close to getting back to the everyday activities we all 0:00:57.800 --> 0:01:00.680 miss so much. And that, of course, was ADC Director 0:01:00.760 --> 0:01:04.840 Rochelle will Lanski earlier today. This as there's many virus 0:01:04.840 --> 0:01:07.800 and vaccine headlines again, and we just had one just 0:01:07.840 --> 0:01:10.000 a few minutes ago, crossing the Bloomberg France starting a 0:01:10.040 --> 0:01:12.920 four week nationwide lockdown on Saturday. That is coming from 0:01:13.520 --> 0:01:15.760 their leader at Emmanuel mccrowna. And of course just a 0:01:15.760 --> 0:01:18.440 reminder that there's parts of the world that are still 0:01:18.600 --> 0:01:22.000 seeing um the numbers really troubling. Yeah, despite the progress 0:01:22.000 --> 0:01:23.400 that we've made here in the United States, much of 0:01:23.400 --> 0:01:26.319 the world remains unvaccinated. Dr Ian LUs Bader is clinical 0:01:26.319 --> 0:01:28.840 Associate Professor of medicine at n y U Lanego in 0:01:28.880 --> 0:01:31.280 a medical center, joining us now on the phone from 0:01:31.360 --> 0:01:33.600 New York City. Dr LUs Bader, it it's always great 0:01:33.880 --> 0:01:35.920 when you join us. Thank you so much for taking 0:01:35.959 --> 0:01:37.959 the time. Let's get right into it and talk about 0:01:38.000 --> 0:01:40.080 what's happening in Europe, as we just learned from Carol 0:01:40.200 --> 0:01:43.480 France starting a four week nationwide lockdown on Saturday. The 0:01:43.480 --> 0:01:45.959 big question I have is is this the direction that 0:01:45.959 --> 0:01:48.280 that we're going in here, considering we're starting to see 0:01:48.320 --> 0:01:51.560 cases creep up as well? I don't think so. And 0:01:51.760 --> 0:01:55.800 Happy Wednesday, Tim and call hopeball as well. Definitely, there's 0:01:56.200 --> 0:01:58.320 a number of countries around the world that are seeing 0:01:58.600 --> 0:02:01.880 a rise. Fortunately we're not seeing a big rise in 0:02:01.880 --> 0:02:05.400 the United States, but and we've done fairly well. A 0:02:05.480 --> 0:02:08.560 lot further to go in terms of vaccinations, but frances 0:02:08.800 --> 0:02:11.799 uh in a bit of trouble, Poland, part of the UK, 0:02:11.960 --> 0:02:16.799 and certainly other countries like Brazil, even Mexico. So we're 0:02:16.800 --> 0:02:19.119 seeing a number of areas and I think they will 0:02:19.160 --> 0:02:22.200 relate to probably one of three or four different reasons. 0:02:22.720 --> 0:02:26.640 One is vaccine availability. We've been fairly fortunate here that 0:02:26.680 --> 0:02:31.120 we've purchased a large number of different vaccines. They're all 0:02:31.160 --> 0:02:36.840 fairly effective, and I think the availability now is even greater. 0:02:36.960 --> 0:02:39.800 So I think we've had that many countries in Europe 0:02:39.880 --> 0:02:43.760 have been either hesitant to take vaccines, and some of 0:02:43.760 --> 0:02:47.120 them relate to I'll take this vaccine, but not that 0:02:47.400 --> 0:02:50.720 you know, another vaccine there is suspicious about astra Zeneca 0:02:51.960 --> 0:02:56.919 or gsk or or fiser has a preference. So um 0:02:56.960 --> 0:03:00.440 part of it is um, the availability of it is 0:03:00.560 --> 0:03:02.960 vaccine hesitancy. Part of it as a lifestyle if there 0:03:02.960 --> 0:03:06.440 are more social country and they're not really following barriers 0:03:07.000 --> 0:03:09.880 six ft and so forth, if they're more social. But 0:03:10.120 --> 0:03:14.120 also some new strains that be one one, seven has 0:03:14.160 --> 0:03:19.120 a higher transmissibility. So if you're dealing with um a 0:03:19.200 --> 0:03:21.640 population that has not had a lot of vaccine, and 0:03:21.680 --> 0:03:24.919 you've got a variant that is more transmissible, in other words, 0:03:25.360 --> 0:03:28.560 one person can infect instead of two or three, potentially 0:03:28.600 --> 0:03:31.440 four or five or six people, then you're going to 0:03:31.520 --> 0:03:37.160 have many more problems. So mm hmmm, are we likely 0:03:37.200 --> 0:03:40.320 to have a fourth wave because of people who might 0:03:40.360 --> 0:03:43.200 not be taking the vaccine, are putting it off, and 0:03:43.240 --> 0:03:47.800 because we're seeing a COVID nineteen strain that as it mutates, 0:03:47.800 --> 0:03:50.480 are very As we see the variants and they're higher, 0:03:50.600 --> 0:03:53.760 as you said, a higher transmissibility, are we likely then 0:03:53.800 --> 0:03:56.840 to have a fourth wave? Well, I think that's what 0:03:57.000 --> 0:04:00.760 the authorities are worried about, and I we could do 0:04:00.840 --> 0:04:06.200 a better job at addressing people's vaccine hesitancy. There are 0:04:06.320 --> 0:04:09.720 people who who are concerned about taking it. There are 0:04:09.720 --> 0:04:13.160 a lot of rumors unfortunately on social media and on 0:04:13.200 --> 0:04:17.280 the internet that are really misinforming people. And I don't 0:04:17.279 --> 0:04:19.080 think it's enough to say we have to keep our 0:04:19.120 --> 0:04:22.440 guard up and we have to you know, get everyone vaccinated. 0:04:22.720 --> 0:04:26.360 I think we need to directly address some of the 0:04:26.400 --> 0:04:30.039 concerns in terms of safety. Uh, and in terms, we 0:04:30.160 --> 0:04:34.320 just had FISER data that showed very high efficacy in 0:04:34.440 --> 0:04:38.320 kids twelve to fifteen. I think we need to broaden 0:04:38.360 --> 0:04:43.120 our availability and really kind of address populations that are concerned, 0:04:43.520 --> 0:04:47.200 why they're concerned, and can we have the experts UH 0:04:47.520 --> 0:04:51.120 from the CDC or other infectious disease specialists kind of 0:04:51.160 --> 0:04:55.359 really spell out what people are worried about and why 0:04:55.520 --> 0:05:00.400 those concerns really are not so valid? Dr Spader? Are 0:05:00.440 --> 0:05:04.680 we still seeing people change their thoughts around getting the 0:05:04.760 --> 0:05:06.920 vaccine in the sense of what we saw early on 0:05:07.000 --> 0:05:11.040 December January, especially with with with healthcare workers. Maybe they 0:05:11.080 --> 0:05:14.120 were hesitant, but then people inside their social circles insteade, 0:05:14.120 --> 0:05:17.279 their families started getting the vaccine their friends, and then 0:05:17.320 --> 0:05:19.280 that sort of change the way that they thought about it. 0:05:19.320 --> 0:05:22.400 Is that still happening very much so when I think 0:05:22.440 --> 0:05:25.599 you've hit on a very important point, which is people 0:05:26.640 --> 0:05:29.440 need to share with others that they've had the vaccine, 0:05:29.480 --> 0:05:31.920 that they did well with it. There are always some 0:05:32.000 --> 0:05:34.719 mild side effects. I think some people are concerned about, 0:05:35.080 --> 0:05:38.520 you know, potentially longer term UH side effects which were 0:05:38.520 --> 0:05:41.920 really not seeing um or this report about clots and 0:05:41.960 --> 0:05:44.640 so forth, which really didn't pan out either. And I 0:05:44.680 --> 0:05:47.440 think the best way to reduce vaccine hesitancy is to 0:05:47.520 --> 0:05:51.559 have people in a peer group socioeconomic group, your friends 0:05:51.680 --> 0:05:54.600 basically say hey, I did fine, you should get it 0:05:54.680 --> 0:05:57.479 as well. Uh, And we're not seeing that as much 0:05:57.480 --> 0:05:59.760 as we should. We talked about the Fiser vaccine it 0:06:00.920 --> 0:06:04.279 protection for kids ages twelve to fifteen. That was in 0:06:04.279 --> 0:06:06.920 a study that the company released the data for early 0:06:07.000 --> 0:06:09.800 this morning. Dr LUs better. It doesn't get any better 0:06:09.800 --> 0:06:14.800 than right, yes, really encouraging data and in order to 0:06:14.880 --> 0:06:20.240 really reach herd immunity, which unfortunately is the only reasonable 0:06:20.279 --> 0:06:22.920 way we're going to end the pandemic. I know many 0:06:22.960 --> 0:06:26.559 people talk about therapeutics and so forth, but really having 0:06:26.600 --> 0:06:29.320 to have people get the infection and then treat them 0:06:29.360 --> 0:06:33.080 is is a very cumbersome way. So vaccines really are 0:06:33.160 --> 0:06:39.200 the key. And having a efficacy in this young population 0:06:39.279 --> 0:06:43.920 that is certainly exposed to in social settings and so forth, 0:06:44.480 --> 0:06:46.920 um and can harbor the virus who have a little 0:06:47.000 --> 0:06:51.600 less symptoms. Sometimes this really is key data and hopefully 0:06:51.600 --> 0:06:55.960 we'll reassure people in terms of safety, certainly efficacy, and 0:06:56.000 --> 0:06:58.400 I think we need to ramp this up and and 0:06:58.960 --> 0:07:01.680 ultimately distry rebut it that's really the key thing is 0:07:01.720 --> 0:07:06.280 getting the vaccine eligibility for really more people and ultimately 0:07:06.320 --> 0:07:09.720 younger people is the way to to move forward. Hey 0:07:09.880 --> 0:07:12.360 speaking a key data research also, I think it was 0:07:12.400 --> 0:07:15.640 out just this week to uh, there's a study. It's 0:07:15.680 --> 0:07:18.640 kind of a growing part of evidence suggesting that the vaccines, 0:07:18.680 --> 0:07:22.080 these are the vaccines by maderna advisor, not only reduce 0:07:22.160 --> 0:07:24.560 the risk of getting seriously ill with covedanteam, but can 0:07:24.560 --> 0:07:27.680 prevent catching the virus in the first place. In other words, 0:07:28.200 --> 0:07:31.800 I we can't be hosts even if we're vaccinated. That's 0:07:31.840 --> 0:07:35.400 also key. I agree with you completely. You know, many 0:07:35.480 --> 0:07:38.640 people are concerned or one of the excuses for vaccine 0:07:38.680 --> 0:07:41.960 hesitancy is saying, look, even if I get the vaccine, 0:07:42.080 --> 0:07:45.720 I could still harbored in my nasal firings and transmitted 0:07:46.160 --> 0:07:48.440 And that never really made much sense to me, because 0:07:48.480 --> 0:07:51.480 once you have antibodies, it's much less likely. Of course, 0:07:51.480 --> 0:07:54.120 you've got blood flow in antibodies in your in your 0:07:54.160 --> 0:07:57.120 nose and nas of fairings. So you know, there's probably 0:07:57.160 --> 0:08:00.120 a few people who may have that, you know with 0:08:00.160 --> 0:08:03.320 studies where they swab you after a vaccine. But the 0:08:03.560 --> 0:08:06.000 evidence to me is building greater and greater that the 0:08:06.080 --> 0:08:09.360 vaccines will really make a big difference also in decreasing 0:08:09.360 --> 0:08:14.000 transmission and acquisition of getting it. But yet, for example, 0:08:14.000 --> 0:08:16.400 we have about twenty five hundred people in the US 0:08:16.440 --> 0:08:20.800 that have had a vaccine about we're growing about thirty 0:08:20.840 --> 0:08:23.040 three out of a hundred in the UK, but only 0:08:23.080 --> 0:08:25.679 about eight out of a hundred, only about eight percent 0:08:25.760 --> 0:08:28.960 in Europe, which I think is why we're seeing this 0:08:29.400 --> 0:08:32.040 rise in cases. Well, we're seeing the rising cases here. 0:08:32.120 --> 0:08:33.880 We have to address that. Well, I want to talk 0:08:33.920 --> 0:08:36.200 about that a little bit because in the United Kingdom, 0:08:36.400 --> 0:08:40.000 where the vaccination campaign is a few weeks even a 0:08:40.000 --> 0:08:42.400 month ahead of where we are in the United States, um, 0:08:42.559 --> 0:08:46.040 Israel significantly ahead of the United States as well, cases 0:08:46.280 --> 0:08:50.920 and deaths have really really dropped. When does that happen here? Like, 0:08:50.960 --> 0:08:52.720 what do we know about the inflection point that happened 0:08:52.720 --> 0:08:54.920 in those countries and when that starts to happen in 0:08:54.960 --> 0:08:59.800 the US. Well, the numbers in Israel are are certainly encouraging, 0:09:00.000 --> 0:09:03.920 are closer to like seventy percent of the population or 0:09:03.960 --> 0:09:07.760 seventy eight out of a hundred. So that's really when 0:09:07.800 --> 0:09:10.800 you have heard immunity, and and and the numbers show 0:09:10.880 --> 0:09:14.000 that it's hard to know here because part of her 0:09:14.080 --> 0:09:17.680 immunity are people who have already had the virus, and 0:09:17.720 --> 0:09:20.240 we think those antibodies do stay around for a while. 0:09:20.720 --> 0:09:23.600 So I think our numbers, I think our herd immunity 0:09:24.080 --> 0:09:28.960 is higher than the I'm guessing we're probably closer to fifty. 0:09:29.880 --> 0:09:33.960 And I think that that number is close to the 0:09:33.960 --> 0:09:37.080 sixty or seventy that we really need in order to 0:09:37.200 --> 0:09:40.800 sort of break viral transmission. So I think we're close, 0:09:40.920 --> 0:09:43.800 But I think, as the CDC says, we're not there yet. 0:09:44.520 --> 0:09:47.440 Um hopefully in the next few months and well before 0:09:47.480 --> 0:09:50.920 the summer, hopefully we will reach those numbers where we 0:09:51.000 --> 0:09:55.480 will not have to have the same restrictions. But and 0:09:55.520 --> 0:09:59.600 do we know how long we stay protected from bodies 0:09:59.679 --> 0:10:04.120 vaccine means? Is it months? Is it a year? We 0:10:04.200 --> 0:10:06.360 don't And I think that's a really good question, And 0:10:06.440 --> 0:10:09.000 people ask me that question too, They say, well, why 0:10:09.000 --> 0:10:10.920 should I even take the vaccine? I don't know how 0:10:10.960 --> 0:10:15.040 long it's protective. We do have studies out certainly six 0:10:15.120 --> 0:10:18.880 to now going on maybe twelve months that do suggest 0:10:18.960 --> 0:10:22.440 there is protection and people may need a booster. We 0:10:22.480 --> 0:10:27.080 don't really know, uh, And certainly if there are more variants, 0:10:27.000 --> 0:10:30.840 is possible you may need a new strain booster. But 0:10:31.200 --> 0:10:34.120 I wouldn't really worry about that at this point because 0:10:34.920 --> 0:10:37.600 it's hard to measure T cells. And we do think 0:10:37.720 --> 0:10:41.560 that immunity may be longer even than than antibodies, but 0:10:41.640 --> 0:10:43.920 the antibody levels are high and they do last for 0:10:44.040 --> 0:10:46.040 many months at least. Look, I gotta say, I'm not 0:10:46.080 --> 0:10:47.920 so concerned about the idea of getting a booster. It's 0:10:47.960 --> 0:10:49.600 it's what I do each year for a flu shot, 0:10:49.640 --> 0:10:51.559 So why not just throw the flu shot in with 0:10:51.600 --> 0:10:53.760 a booster for the COVID shot. It's and look, I 0:10:53.800 --> 0:10:56.640 know that not everybody gets a flu shot, but perhaps 0:10:56.679 --> 0:10:58.640 that will change. Do we get T cells out of 0:10:58.679 --> 0:11:02.760 these vaccines just quickly? We think we do, yes, absolutely, 0:11:02.800 --> 0:11:07.040 and that probably provides much longer lasting immunity than the 0:11:07.080 --> 0:11:10.120 actual tighter of the inner bodies. But with all the studies, 0:11:10.160 --> 0:11:14.240 the antibody tigers are high, higher than the natural infection 0:11:14.600 --> 0:11:16.880 and last even longer. So I think there's a lot 0:11:16.920 --> 0:11:19.120 of good data and we need to address that. Well. 0:11:19.160 --> 0:11:23.360 Always good fun, let's talk about the lab lee listen 0:11:23.400 --> 0:11:25.360 always good information for me. I was thinking, I can't 0:11:25.360 --> 0:11:27.080 wait to where we're in a world where we can 0:11:27.120 --> 0:11:29.560 just go wherever we want with Dr LUs Bader, because 0:11:29.600 --> 0:11:32.040 we discover so many different Maybe do it in the studio, 0:11:32.160 --> 0:11:34.560 and do it in the studio, all right, Dr Ian 0:11:34.640 --> 0:11:38.080 LUs Bader, Stay safe, Be well, Clinical Associate Professor Medicine 0:11:38.080 --> 0:11:40.680 at n y U Landgoing Medical Center. On the phone 0:11:40.679 --> 0:11:44.080 in New York City. This is Bloomberg Business Week with 0:11:44.200 --> 0:11:48.920 Carol Masser and Bloomberg Quick Takes Tim Stinovich from Bloomberg Radio. 0:11:49.360 --> 0:11:51.920 So we are hyper focused on President Biden's tune, a 0:11:51.960 --> 0:11:54.760 quarter twillion dollar US infrastructure plan. He is expected to 0:11:54.760 --> 0:11:57.680 announce it in about I think ninety minutes from now, 0:11:57.800 --> 0:11:59.920 and reporting for Bloomberg Business Week is national course by 0:12:00.040 --> 0:12:03.240 that Josh Green, He wrote and notes that the infrastructure 0:12:03.240 --> 0:12:06.640 boon risks adding to the President's immigration woes. It's another 0:12:06.720 --> 0:12:08.760 side of the story that we hadn't thought about. Yeah, 0:12:08.800 --> 0:12:12.160 and like everything else, it is much more nuanced than 0:12:12.400 --> 0:12:15.439 meets the eye. Joel Weber is editor at Bloomberg Business Week, 0:12:15.480 --> 0:12:17.920 joining us on the remote from Brooklyn. Amanda Colson Hurley 0:12:17.920 --> 0:12:21.880 as Politics editor for Bloomberg Business week Joel Josh makes 0:12:21.920 --> 0:12:24.360 a great point in this piece, makes a lot of 0:12:24.360 --> 0:12:26.959 great points that the focus really has been on on 0:12:26.960 --> 0:12:29.079 on one thing, this idea of a surge at the border. 0:12:29.120 --> 0:12:32.000 But there's a reason why people are coming across the 0:12:32.080 --> 0:12:35.439 United States border with Mexico. And at the same time, 0:12:35.960 --> 0:12:39.800 it's not necessarily as many children as people think. Yeah, 0:12:40.160 --> 0:12:42.360 I thought what Josh did that was really interesting when 0:12:42.400 --> 0:12:44.440 in this was just like take it sort of two 0:12:44.440 --> 0:12:47.040 steps further than than at least my brain was was 0:12:47.080 --> 0:12:50.719 already going, which was, you know, this infrastructure bill that 0:12:50.800 --> 0:12:53.760 we expect Biden to announce big money. It will mean 0:12:53.800 --> 0:12:56.679 that there will be a big boost to the economy. 0:12:57.080 --> 0:13:02.120 It also means that the humanitarian crisis, immigration uh struggles 0:13:02.120 --> 0:13:05.160 that we've seen on the border could only get amplified 0:13:05.240 --> 0:13:08.480 because of that. So so Amanda's bring you in. Um, 0:13:09.160 --> 0:13:13.080 how how is Josh able to connect those dots? Yeah, 0:13:13.200 --> 0:13:16.280 I mean the way that Josh connects them is really 0:13:16.280 --> 0:13:22.240 looking at um the you know, economic prospects in both 0:13:22.280 --> 0:13:26.560 the US and in Mexico. UM. One of the Yeah, 0:13:26.600 --> 0:13:29.079 one of the things that's kind of been missed or 0:13:29.160 --> 0:13:31.400 overlooked in some of the coverage of what's going on 0:13:31.400 --> 0:13:34.600 at the border is that although there's been this um 0:13:34.720 --> 0:13:40.160 quite pronounced increase in uh families seeking asylum, there's also 0:13:40.240 --> 0:13:45.120 been a steady increase since last year in the number 0:13:45.280 --> 0:13:50.120 of uh, you know, just kind of soul soul adults 0:13:50.440 --> 0:13:54.560 not traveling with families, not seeking asylum, just crossing the 0:13:54.600 --> 0:13:59.400 border for for you know, economic opportunity, um. And a 0:13:59.440 --> 0:14:04.240 lot of those adults traveling alone are are also Mexican. 0:14:04.800 --> 0:14:08.960 And so what you know, what Josh says is that, um, 0:14:09.000 --> 0:14:13.080 you know a lot of these migrants are drawn to uh, 0:14:13.120 --> 0:14:16.360 you know, opportunities in the US as the US recovers 0:14:16.400 --> 0:14:20.160 from the pandemic. Uh, you know, with vaccination going pretty 0:14:20.160 --> 0:14:24.760 well here, with jobs coming back, it's it's an attractive prospect. 0:14:24.960 --> 0:14:28.280 And Mexico, you know, on the other hand, has been 0:14:28.360 --> 0:14:32.080 hit very hard by COVID, as has the US, but uh, 0:14:32.200 --> 0:14:35.400 you know, vaccination is not nearly so far along. Uh. 0:14:35.440 --> 0:14:39.280 And also the Mexican government has not provided uh, you know, 0:14:39.320 --> 0:14:42.680 a generous relief at all. Uh. It's taken more of 0:14:42.840 --> 0:14:47.080 a kind of austerity approach. So those kind of factors, 0:14:47.200 --> 0:14:50.720 I think, for for some perspective, migrants would would tip 0:14:50.760 --> 0:14:53.680 the balance to uh, you know, maybe maybe trying to 0:14:53.760 --> 0:14:55.880 go to the US. This is one of those stories, 0:14:55.920 --> 0:14:57.680 as you said at the top, Tim, it's like just 0:14:57.760 --> 0:14:59.760 the facts and that this whole idea of this data. 0:15:00.080 --> 0:15:03.400 Two of those apprehended recently are single adults crossing the 0:15:03.440 --> 0:15:07.280 border from Mexico into the US Mexicans. The thing that's 0:15:07.360 --> 0:15:09.840 interesting about this, Amanda to first of all, is getting 0:15:09.840 --> 0:15:14.160 those statistics and kind of understanding exactly what's going on, UM, 0:15:14.200 --> 0:15:17.880 but also understanding that adults are looking for jobs they 0:15:17.880 --> 0:15:22.200 don't require maybe you know, as much handling as obviously 0:15:22.360 --> 0:15:24.880 kids would who are crossing the border from Mexico into 0:15:24.920 --> 0:15:28.720 the United States. Oh, that's right. And uh, you know, 0:15:29.080 --> 0:15:31.560 one of the things that the Josh Green notes in 0:15:31.640 --> 0:15:35.960 this in the story, uh is that obviously, you know, 0:15:36.160 --> 0:15:40.880 higher numbers of people making that crossing, uh, you know, 0:15:40.960 --> 0:15:44.640 would be a logistical and potentially political you know, a 0:15:44.680 --> 0:15:48.120 headache for the Biden administration, but not the same way 0:15:48.520 --> 0:15:54.160 as UM, you know, unaccompanied miners or or families. In 0:15:54.240 --> 0:15:58.320 terms of UM, these are not people fleeing persecution you know, 0:15:58.360 --> 0:16:03.560 back home. If if they end up being deported, it's uh, 0:16:03.600 --> 0:16:06.160 you know, it's not a humanitarian crisis of sending them 0:16:06.200 --> 0:16:10.640 back into danger. So um, some of those logistical and 0:16:10.960 --> 0:16:14.640 complications and political risks are not, uh do not rise 0:16:14.680 --> 0:16:18.440 to the level that they would um with the family 0:16:18.480 --> 0:16:21.360 asylum seekers. So given that, we expect the economy to 0:16:21.920 --> 0:16:23.960 start to do and continue to do pretty well here 0:16:24.040 --> 0:16:27.160 in the United States. Unclear how the economy in Mexico 0:16:27.200 --> 0:16:30.000 will do, but as Josh points out, there significantly behind 0:16:30.000 --> 0:16:33.840 the United States when it comes to inoculating the population. Well. 0:16:33.880 --> 0:16:39.680 At the same time, I'm wondering about potential tools that 0:16:40.080 --> 0:16:43.680 the White House actually has for fixing this crisis. What 0:16:43.760 --> 0:16:49.360 are those, Amanda, Um, Yeah, I mean if there are 0:16:49.440 --> 0:16:55.440 certain policies you know that it could try to pursue, um, 0:16:55.640 --> 0:17:00.000 you know, the Trump administration had suspended temporary work these 0:17:00.200 --> 0:17:03.920 is um, it could bring those back, um, you know 0:17:04.040 --> 0:17:07.840 and kind of generally open up some of those legal 0:17:08.000 --> 0:17:11.639 paths immigration that have been have been blocked for a while. 0:17:11.720 --> 0:17:14.480 I'm part of what, uh, what we're seeing with the 0:17:14.600 --> 0:17:21.080 increase in unauthorized immigration is um kind of overflow from 0:17:21.119 --> 0:17:25.359 what you know otherwise might have happened in legal channels. UM, 0:17:25.440 --> 0:17:28.879 you know, divide administration could even kind of offer assistance 0:17:29.000 --> 0:17:33.920 to Mexico with vaccination. You know it could um write uh, 0:17:33.960 --> 0:17:36.520 you know, when we have a surplus of vaccine, I 0:17:36.560 --> 0:17:39.120 guess we already do, you know, divert some of that 0:17:39.200 --> 0:17:42.280 to Mexico and that would help revive revive the Mexican 0:17:42.280 --> 0:17:46.320 economy in terms, so then people would have more opportunities 0:17:46.359 --> 0:17:48.639 at home, right. Something we talked to Nobel Lauri h 0:17:48.680 --> 0:17:51.680 Joseph Stiglets about recently about how the developed world has 0:17:51.720 --> 0:17:55.080 to help out the developing nations on a couple different levels, 0:17:55.080 --> 0:17:57.320 but you know, first and foremost helping them get COVID 0:17:57.400 --> 0:18:00.239 under control and sharing those vaccines. Folks, thank you how much. 0:18:00.240 --> 0:18:02.800 Bloomberg Business Week editor Joe Webber with us along with 0:18:02.800 --> 0:18:06.639 Bloomberg Business Week Politics editor Amanda Coulson Hurley. This is 0:18:06.680 --> 0:18:10.639 Bloomberg Business Week with Carol Messer and Bloomberg Quick Takes 0:18:10.720 --> 0:18:14.680 Tim Stinovich from Bloomberg Radio. So among our most read 0:18:14.680 --> 0:18:17.080 stories in the Bloomberg includes this next one, uh, not 0:18:17.200 --> 0:18:19.200 delivering in its first day of trading as a public company. 0:18:19.240 --> 0:18:23.480 We're talking about Delivery holdings collapsing, Tim and its London 0:18:23.560 --> 0:18:27.720 public debut. Investors abandoning the food delivery startup and that's 0:18:27.760 --> 0:18:30.600 because of its labor practices, among other things. Yeah, really 0:18:30.640 --> 0:18:33.160 interesting story happening, and it's not one that's necessarily playing 0:18:33.160 --> 0:18:35.160 out in the United States. And that's what's so interesting 0:18:35.200 --> 0:18:37.480 to me about this because investors here don't really seem 0:18:37.520 --> 0:18:40.359 to care about those But it's trending high. It is. 0:18:40.840 --> 0:18:42.919 It is, Oh, it is. What I mean, those investors 0:18:42.960 --> 0:18:45.360 don't care about it with American companies, Yeah, exactly, that's 0:18:45.359 --> 0:18:47.920 what I mean. That it doesn't transfer, Yeah, it doesn't transfer. 0:18:48.000 --> 0:18:51.120 Diana Gomes is consumer staples analyst at Bloomberg Intelligence, joining 0:18:51.200 --> 0:18:53.399 us on the phone from London. Diana, help us make 0:18:53.440 --> 0:18:55.120 sense of this because what I'm what I'm getting at 0:18:55.160 --> 0:18:58.200 here is that E s G is something that investors 0:18:58.240 --> 0:19:00.400 talk a lot about here, it's something that banks talk 0:19:00.400 --> 0:19:02.080 a lot about, but at the end of the day, 0:19:02.560 --> 0:19:06.280 it's not part of earnings, and investors look at earnings. 0:19:06.280 --> 0:19:08.960 That's what moves the company stock. And it seems like 0:19:09.119 --> 0:19:10.920 from what I've read and from what I understand about 0:19:10.960 --> 0:19:13.959 the delivery story, there are some big investors that are 0:19:14.000 --> 0:19:16.200 unwilling to actually buy the company's stock because of the 0:19:16.240 --> 0:19:22.920 company's labor practices. Yes, Hi, thank you for having me UM. 0:19:23.000 --> 0:19:26.840 That's uh, that's part to it true. That's uh, yes, 0:19:26.960 --> 0:19:31.520 you doesn't quite transfer to earnings UM. So it's some 0:19:31.680 --> 0:19:36.000 of the biggest UK asset managers came out over the 0:19:36.080 --> 0:19:39.640 last week saying this is not aligned with with our 0:19:39.760 --> 0:19:44.119 investment practice. And yes, part of it has to do 0:19:44.240 --> 0:19:50.000 with the statues of the writers. So Deliver is a 0:19:50.040 --> 0:19:56.040 logistics focused trying to serve on demand food delivery from 0:19:56.160 --> 0:20:00.600 restaurants and also grocery stores. So it needs this big 0:20:00.600 --> 0:20:04.760 foot of writers that can um really serve the demand 0:20:04.840 --> 0:20:08.680 for for these UH goods, especially at the time where 0:20:09.160 --> 0:20:12.560 we are spending so so much time at home with 0:20:12.800 --> 0:20:17.600 lockdowns and restrictions. So there is some concern as some 0:20:17.680 --> 0:20:22.560 of the writers may be earning much WEST and the 0:20:22.680 --> 0:20:26.879 minimum wage and and that really depends how we count 0:20:26.920 --> 0:20:30.080 the hours. But the other point is uh, this is 0:20:30.119 --> 0:20:34.840 a profit loss in company, so it has been burning 0:20:34.920 --> 0:20:41.200 cash UH and the possible regulation changes, especially in many 0:20:41.240 --> 0:20:45.360 of the European markets where Deliver competes with the other 0:20:45.440 --> 0:20:50.840 very aggressive competitors, the regulation is changing and that will 0:20:51.400 --> 0:20:56.280 mean higher costs because it could mean UH a minimum wage, 0:20:56.600 --> 0:21:03.240 it can mean insurance UM eight holi days we've um 0:21:03.359 --> 0:21:06.560 and all that will then transfer into the learning. So 0:21:06.800 --> 0:21:09.840 it is a big risk and it's a risk that 0:21:10.600 --> 0:21:14.000 we were reflected in their perspectives as well. Diane, I 0:21:14.040 --> 0:21:16.600 got a couple of questions, but how how likely is 0:21:16.600 --> 0:21:19.080 this too that just these types of companies which have 0:21:19.160 --> 0:21:22.360 been pandemic plays in the past year are just kind 0:21:22.359 --> 0:21:24.760 of falling out of favor with investors. We see that, 0:21:25.200 --> 0:21:26.880 and you point this out in your story. I mean 0:21:26.920 --> 0:21:30.680 door Dash is down twenty this month. Uh, you see 0:21:30.680 --> 0:21:35.560 others like that, um also just takeaway European rival, uh 0:21:35.760 --> 0:21:38.199 delivery Hero. They have fallen this year. Is it just 0:21:38.240 --> 0:21:41.120 a case of like not so interested in these kinds 0:21:41.119 --> 0:21:45.639 of companies right now? Yes, So the story is really 0:21:45.720 --> 0:21:49.880 turning as we see the vaccinations rolling out, even if 0:21:50.480 --> 0:21:54.399 quite slowing in some countries. But the story is turning 0:21:54.400 --> 0:21:59.920 into yes, the consumer will want to do things outside 0:22:00.080 --> 0:22:04.040 house and we'll want to go dying at their favorite 0:22:04.040 --> 0:22:06.680 restaurants and with friends and all that. So this companies 0:22:06.800 --> 0:22:11.480 rely on delivering meals from Russians at home, and that's 0:22:11.560 --> 0:22:14.960 not the demand will not be at the same level 0:22:15.080 --> 0:22:17.639 as it's right. I have to say, Tim and I 0:22:17.680 --> 0:22:19.760 had a conversation off air, and we're just like so 0:22:19.840 --> 0:22:23.159 tired of take out, Like just like we're talking about cooking. 0:22:23.200 --> 0:22:25.439 It's hard when you're working and all that stuff, right him. 0:22:25.480 --> 0:22:26.879 But we were just saying, I'm done kind of a 0:22:26.880 --> 0:22:30.000 taking Yeah, but the hard I mean, look, it's it's 0:22:30.000 --> 0:22:31.640 a tough it's a tough thing to be thinking about 0:22:31.720 --> 0:22:35.399 because in one sense it has absolutely saved people during 0:22:35.680 --> 0:22:37.880 during the pandemic when it was like difficult to get 0:22:37.920 --> 0:22:40.600 other types of food, people who were really concerned about 0:22:40.640 --> 0:22:43.200 going outside and just thinking about the people who were 0:22:43.200 --> 0:22:45.879 the essential workers who were delivering this food, right, And 0:22:45.920 --> 0:22:47.520 that's a big part of the conversation here in the 0:22:47.560 --> 0:22:49.840 United States. But I go back to some companies restaurants 0:22:49.960 --> 0:22:51.919 exactly and helping out restaurants. But a big part of 0:22:51.920 --> 0:22:55.560 the conversation is it's it's just not necessarily on the 0:22:55.640 --> 0:22:57.320 radar of investors the same way that it's on the 0:22:57.400 --> 0:23:00.000 radar of investors in the UK when they're thinking about 0:23:00.000 --> 0:23:02.760 out the regulatory risks. I think and and and perhaps 0:23:02.760 --> 0:23:04.720