WEBVTT - Learning to Adapting for Today's Rapid Pace of Change

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, radio news.

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<v Speaker 2>This is Bloomberg Business Week with Carol Messer and Tim

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<v Speaker 2>Stenebeck on Bloomberg Radio. It is Bloomberg Business Week, and

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<v Speaker 2>I don't know if you had a chance to check

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<v Speaker 2>out our weekend show over the long weekend, but Carol,

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<v Speaker 2>we went all in on real estate, from design, resilience

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<v Speaker 2>and sustainability with the CEOs of Gensler, to commercial industrial

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<v Speaker 2>and multi family with the CEO of Crow Holdings, to

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<v Speaker 2>so called alternative real assets such as storage and senior

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<v Speaker 2>and student housing with the CEO of Harrison Street. You

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<v Speaker 2>can still catch our weekend show, by the way, on

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<v Speaker 2>our podcast feed. Yeah.

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<v Speaker 3>Good stuff, right, and there's a lot of questions when

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<v Speaker 3>it comes to real estate. It's a great indicator too

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<v Speaker 3>of what's going on in the overall economy. One thing

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<v Speaker 3>though we didn't really do as deep a dive into,

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<v Speaker 3>and that was Read's real estate investment trucks, so we

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<v Speaker 3>definitely wanted to tap into that. Laural dru Ku is

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<v Speaker 3>head of Global listed real Assets at Morgan Stanley Investment

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<v Speaker 3>Management and she's with us from New York City. Laura,

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<v Speaker 3>good to have you here with us. First let's start

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<v Speaker 3>big and wide. What are you seeing when it comes

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<v Speaker 3>to the environment, And it's hard because not every read

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<v Speaker 3>is the same. So what's kind of a smart narrative

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<v Speaker 3>as you look at the group overall?

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<v Speaker 4>So glad to be here, thanks for having me.

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<v Speaker 5>I do think that the environment right now is very nuanced,

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<v Speaker 5>as you had indicated, and a lot of the top

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<v Speaker 5>down macro is really centered around interest rates, in the

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<v Speaker 5>direction of interest rates, and the markets expectation of the

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<v Speaker 5>direction of interest rates. But when you look at the nuance,

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<v Speaker 5>when you look at the idiosyncratic, there really are some

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<v Speaker 5>very important secular drivers of demand that are propelling growth

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<v Speaker 5>for a lot of these alternative asset classes that you

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<v Speaker 5>were just referencing that are really impactful for the reit sector.

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<v Speaker 2>What are those things?

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<v Speaker 5>So, when you look at from again from more of

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<v Speaker 5>a top down perspective, technology and innovation is a theme

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<v Speaker 5>that is really important in the broader equities market, and

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<v Speaker 5>it is also very important for the real estate market.

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<v Speaker 5>When you look at the data center market, it has

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<v Speaker 5>been a growing piece of the overall remarket for the

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<v Speaker 5>past twenty years, and so when you're thinking about what's

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<v Speaker 5>going on with artificial intelligence today that is very impactful

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<v Speaker 5>for the data center sector. There it's a wildly overlooked

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<v Speaker 5>but important beneficiary of AI and new technologies that have

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<v Speaker 5>been evolving.

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<v Speaker 2>Yeah, one thing that's interesting about this now, or well,

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<v Speaker 2>one thing that's interesting about this now is that, you know,

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<v Speaker 2>four years ago, we wouldn't have been talking about you know,

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<v Speaker 2>NIX in the context of AI. We would have been

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<v Speaker 2>talking about it in terms of cloud storage. So talk

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<v Speaker 2>to me a little bit about how that conversation has shifted.

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<v Speaker 2>And Equinox, of course, is one of your picks ticker

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<v Speaker 2>eqi X.

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<v Speaker 4>Yeah, no, absolutely.

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<v Speaker 5>So when you think about there's been a bunch of

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<v Speaker 5>different what I would call transformational moments in time when

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<v Speaker 5>thinking about computing and data and therefore data centers.

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<v Speaker 4>So first it was just the rise of social.

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<v Speaker 5>Media and how that created so much more data to

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<v Speaker 5>be stored in these data centers around the globe than

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<v Speaker 5>it was the rise of cloud computing and how the

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<v Speaker 5>virtualization of the machine was so important for data centers.

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<v Speaker 4>And now we're seeing AI and the impact that.

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<v Speaker 5>AI is going to have on the space likely is

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<v Speaker 5>going to be a game changer. EQUINEX ticker EQIX. As

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<v Speaker 5>you said, certainly is benefiting from that, but we are

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<v Speaker 5>still in what I consider it to be the infancy

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<v Speaker 5>of demand stemming from artificial intelligence.

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<v Speaker 3>Yeah, it's interesting, right, and I think you know here

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<v Speaker 3>we thought last year was all about the excitement and hype,

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<v Speaker 3>but it is feels like it's pulling or gaining even

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<v Speaker 3>more momentum Laurel this year. Right, It's not just going

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<v Speaker 3>away like we're realizing that there's you know, a lot

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<v Speaker 3>to be learned and understanding in terms of AI impact.

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<v Speaker 3>But it doesn't feel like it's going away here.

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<v Speaker 4>Yeah, no, absolutely.

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<v Speaker 5>And when you think about the impact for data centers,

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<v Speaker 5>the GPU is going to require significantly higher power draw

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<v Speaker 5>than the CPU when regular compute, and so that requires

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<v Speaker 5>two to four times more power and that therefore means

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<v Speaker 5>two to four times more data center that we need

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<v Speaker 5>for the same amount.

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<v Speaker 4>Of actual data.

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<v Speaker 5>And so this is something again that's transforming for the

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<v Speaker 5>space not only because of this incremental demand, but because

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<v Speaker 5>of that incremental power draw that is required.

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<v Speaker 2>Hey, I want to go to DLR Digital Realty ticker

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<v Speaker 2>DLR another one of your picks. This one is a

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<v Speaker 2>pure play data center owner. How does it just differentiate

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<v Speaker 2>from Equinix.

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<v Speaker 5>So Digital Realty ticker DLR really is pure play data

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<v Speaker 5>center owner, operator developer. They have the hyper scale focus,

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<v Speaker 5>meaning that they are really looking to those large footprint tenants.

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<v Speaker 5>They were a huge beneficiary of cloud computing. They will

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<v Speaker 5>be a very big beneficiary of artificial intelligence. You saw

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<v Speaker 5>the company report last week and they actually reported some

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<v Speaker 5>disappointing expectations with regard to earnings growth. But if you

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<v Speaker 5>dig a little deeper and understand the nuance there, it's

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<v Speaker 5>actually because they have been doing a lot with their

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<v Speaker 5>capital stack in order to be able to write size

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<v Speaker 5>their balance sheet in order to be able to meet

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<v Speaker 5>this AI demand and fund new development and therefore be

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<v Speaker 5>able to realize that growth in twenty five and beyond.

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<v Speaker 5>So Digital Realty is a company that has a refreshed

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<v Speaker 5>management team.

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<v Speaker 4>They have a new CEO, a new CFO, they.

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<v Speaker 5>Have a new Chairman of the board who is really

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<v Speaker 5>making some tough decisions with regard to what needs to

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<v Speaker 5>be done.

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<v Speaker 4>As I said, they've right sized their balance sheet.

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<v Speaker 5>They have created new joint venture partnerships that really is

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<v Speaker 5>providing them with ample access to capital to be able

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<v Speaker 5>to develop into the bullseye of AI.

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<v Speaker 4>Demands.

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<v Speaker 2>Hey, I want to broaden out the conversation a little

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<v Speaker 2>bit and talk about one more of your picks. Carol,

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<v Speaker 2>I know you were really interested in this one.

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<v Speaker 5>Well.

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<v Speaker 3>Iron Mountain is an interesting See the trucks everywhere, No,

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<v Speaker 3>we do see, and actually they're not far I believe

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<v Speaker 3>one of their offices, their main offices, not far from

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<v Speaker 3>where I live. So I see their trucks.

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<v Speaker 2>Just struck off your paper and get it shredded there exactly.

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<v Speaker 3>No, I don't, but yeah, but there are people who do.

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<v Speaker 3>I mean, this is you know, from high tech to

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<v Speaker 3>low tech if you will. But right, all of these

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<v Speaker 3>data centers, there's a lot of paper that comes out.

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<v Speaker 3>You got to do something with it. You don't want

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<v Speaker 3>to just leave it laying around.

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<v Speaker 5>So Iron Mountain ticker, I am definitely another interesting one

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<v Speaker 5>when thinking about the storage of data. And as you

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<v Speaker 5>had mentioned, they have been a the primary paper storage

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<v Speaker 5>company across the globe. They are also a new entrant

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<v Speaker 5>into data centers and digital storage. They've really evolved their

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<v Speaker 5>business model to capitalize on their core competency and the

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<v Speaker 5>relationships that they have with all of these businesses and

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<v Speaker 5>enterprises around the globe in order to capture digital storage

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<v Speaker 5>as well. So they've been building data centers for the

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<v Speaker 5>past several years. Right now, it only represents about ten

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<v Speaker 5>percent of their revenue, but it is a growing piece

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<v Speaker 5>of their business, and they've built up this competency, They've

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<v Speaker 5>built up this platform to be able to develop.

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<v Speaker 4>Into this AI demand.

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<v Speaker 5>Interestingly, when you look at it from a valuation perspective,

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<v Speaker 5>this company is trading at about a six to seven

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<v Speaker 5>turn multiple discount versus those pure play data center companies

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<v Speaker 5>that I was just talking about, and over the next

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<v Speaker 5>couple of years they're going to have very similar earnings growth.

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<v Speaker 5>So this is the value play within the data center worlds.

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<v Speaker 2>Hey Lauril, before we let you go thirty seconds on

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<v Speaker 2>the best way investors can have exposure to the aging population,

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<v Speaker 2>those baby boomers who will move into senior living twenty

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<v Speaker 2>seconds here.

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<v Speaker 5>Yeah, So when you think about the aging pop relation,

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<v Speaker 5>the best way to play it is through ticker well

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<v Speaker 5>w E L L.

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<v Speaker 4>Well Tower.

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<v Speaker 5>They have about seventy percent of their earnings coming from

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<v Speaker 5>seniors housing. Seniors housing is going to be a big

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<v Speaker 5>beneficiary of the aging demographic.

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<v Speaker 4>Over the next decade, We're going to have about.

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<v Speaker 5>Eight million more people enter the eighty plus year old

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<v Speaker 5>age cohort versus only about two million incremental people they've

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<v Speaker 5>been added over the past decade.

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<v Speaker 4>So well, power is one that's going to be able

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<v Speaker 4>to benefit from this growing demands.

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<v Speaker 3>Come back soon. This is fun smart Laurel Drquay, she's

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<v Speaker 3>head of Global listed real Assets at Morgan's Stale Investment Management.

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<v Speaker 3>Tim safe to say. We hear it over and over

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<v Speaker 3>again from the leaders of companies. Their most important asset

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<v Speaker 3>that they have are their workers.

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<v Speaker 2>Do you believe that.

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<v Speaker 3>It's like okay, okay, what versus their their relationship with

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<v Speaker 3>the banker.

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<v Speaker 2>Or like, okay, how regularly how important is it that

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<v Speaker 2>Disney has the rights to like all the Marvel stuff and.

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<v Speaker 3>You know that's pretty important, but also employees so important?

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<v Speaker 2>Yeah, okay, I think it's fair.

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<v Speaker 3>We go back and forth.

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<v Speaker 2>I think it's true. I do think it's.

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<v Speaker 3>True until it AI replaces it, until get laid off.

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<v Speaker 3>All right, Well, the relationship employees have with their employees

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<v Speaker 3>has definitely changed a lot in recent years. Our next

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<v Speaker 3>guest argues that the quote normal ways of working are

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<v Speaker 3>not coming back, so we cannot rely on what worked

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<v Speaker 3>back then to work in the future.

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<v Speaker 2>We have with us Tabitha Scott. She's the author of

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<v Speaker 2>a new book. It's out today. It's called Powering Change,

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<v Speaker 2>The Hidden Resource to unleash potential, productivity and profits. She

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<v Speaker 2>joins us from Denver this afternoon. Tabitha, how are you hey,

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<v Speaker 2>I'm great.

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<v Speaker 1>How are you today? Tim and Carroll?

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<v Speaker 2>Yeah, we're doing well. Congratulations on the book. Okay, So

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<v Speaker 2>I want to start big picture. How would you describe

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<v Speaker 2>the current state of the typical American business the ones

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<v Speaker 2>that you work with as a consultant right now, Like,

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<v Speaker 2>how would you describe their workforce and how their employees

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<v Speaker 2>are doing?

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<v Speaker 1>Yeah, I think we have three key challenges in the

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<v Speaker 1>workforce right now. One is the accelerated pace of change.

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<v Speaker 1>You know, during the entire year two thousand, the technological

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<v Speaker 1>change now occurs every thirty seconds, and so we're distracted.

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<v Speaker 1>We can't keep up. We're chasing change. The second thing

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<v Speaker 1>is we're off balance. We're off balance because we feel disconnected.

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<v Speaker 1>There is no new norm. It's more like chaos theory

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<v Speaker 1>or theory instead of linear math. And we're burnout as

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<v Speaker 1>a result. So all of those things tie together, and

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<v Speaker 1>the further we get away from natural systems and science

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<v Speaker 1>and the way the world works, the worse we're going

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<v Speaker 1>to get.

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<v Speaker 3>What do you mean everything changes thirty seconds? Like, I agree,

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<v Speaker 3>things are fast and furious, but thirty seconds it's a

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<v Speaker 3>little extreme, don't you think. I mean, we see the chance.

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<v Speaker 1>True, It's so true if you think about it. We

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<v Speaker 1>have more computing power right now on our cell phones

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<v Speaker 1>than NASA did when it landed a spacecraft on the moon.

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<v Speaker 1>So that's right.

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<v Speaker 3>But we've run into it right and it's become you know,

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<v Speaker 3>we talked earlier about how all of this stuff has

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<v Speaker 3>also helped make us much more productive with and that

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<v Speaker 3>might be a plus in terms of kind of raining

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<v Speaker 3>in some of the inflationary pressure.

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<v Speaker 1>So some of it's good, some of it is absolutely good.

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<v Speaker 1>And the key thing there is to stop chasing change,

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<v Speaker 1>like trying to follow every little rabbit that pops up,

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<v Speaker 1>and instead think about your current spot on the growth

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<v Speaker 1>curve on the growth cycle. Where is your company and

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<v Speaker 1>how do you sync into that and really do the

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<v Speaker 1>things that you need to do to eke everything you

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<v Speaker 1>can out of that phase of the cycle. In the past,

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<v Speaker 1>companies would think about the whole growth cycle. Now you

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<v Speaker 1>just need to think about where are you and which

0:12:28.320 --> 0:12:30.839
<v Speaker 1>thing do you need to deploy right now to get

0:12:30.840 --> 0:12:31.959
<v Speaker 1>the most out of your business.

0:12:32.120 --> 0:12:33.880
<v Speaker 2>Okay, so let's think about it from the perspective of

0:12:33.920 --> 0:12:36.520
<v Speaker 2>folks who don't necessarily run businesses. When I talk to

0:12:36.520 --> 0:12:39.800
<v Speaker 2>folks like you who work with businesses, they're also takeaways

0:12:39.920 --> 0:12:41.840
<v Speaker 2>in what you write and what you do for just

0:12:41.880 --> 0:12:46.520
<v Speaker 2>empowering individuals and helping individuals find more efficient ways of

0:12:46.600 --> 0:12:49.079
<v Speaker 2>doing things. Give us a lesson that you would normally

0:12:49.080 --> 0:12:53.160
<v Speaker 2>give a manager that to somebody who isn't necessarily managing someone.

0:12:54.400 --> 0:12:57.959
<v Speaker 1>Yeah. Absolutely, So the things that energize you, you will

0:12:58.000 --> 0:13:01.920
<v Speaker 1>be more productive, engaged, innovative, And so that goes true

0:13:01.920 --> 0:13:04.000
<v Speaker 1>whether you're talking about yourself or you're talking about the

0:13:04.040 --> 0:13:08.040
<v Speaker 1>team that you're leading. Everybody places somewhere along the growth curve.

0:13:08.120 --> 0:13:11.280
<v Speaker 1>For example, people at the beginning of it love taking risks,

0:13:11.360 --> 0:13:13.960
<v Speaker 1>it's a challenge. People at the top are more like

0:13:14.000 --> 0:13:17.000
<v Speaker 1>Sheldon from Big Bang Theory, don't mess with my stuff

0:13:17.040 --> 0:13:19.880
<v Speaker 1>like they love finding risk and making it more efficient.

0:13:20.200 --> 0:13:23.160
<v Speaker 1>So ninety percent of Purdue engineers they fall into that

0:13:23.280 --> 0:13:27.280
<v Speaker 1>category because they're great at refining and using existing frame

0:13:27.320 --> 0:13:29.520
<v Speaker 1>of references. A lot of HR folks are in that

0:13:29.559 --> 0:13:32.760
<v Speaker 1>category as well, very necessary. And then at the beginning

0:13:32.840 --> 0:13:35.439
<v Speaker 1>you have your elon musks, your people that are always

0:13:35.440 --> 0:13:39.760
<v Speaker 1>creating new ideas like Steve jobs was and everywhere in between.

0:13:39.920 --> 0:13:42.440
<v Speaker 1>If you're in the middle, you have execution. Now, the

0:13:42.440 --> 0:13:45.439
<v Speaker 1>cool thing is you can tie that to cognitive diversity

0:13:45.880 --> 0:13:48.920
<v Speaker 1>and whether it's people or the way machines think. Carol,

0:13:49.000 --> 0:13:51.800
<v Speaker 1>when we came on, you were talking about AI. AI

0:13:51.920 --> 0:13:54.440
<v Speaker 1>is at the tip of the curve. Data management is

0:13:54.440 --> 0:13:57.000
<v Speaker 1>in the middle. It takes inputs, turns it into action,

0:13:57.440 --> 0:14:00.360
<v Speaker 1>and at the top you have things like automation to fine.

0:14:00.679 --> 0:14:03.959
<v Speaker 1>So the secret sauce is figure out a sess where

0:14:04.000 --> 0:14:06.440
<v Speaker 1>you are on that curve, align it to your job,

0:14:07.040 --> 0:14:10.040
<v Speaker 1>and then adapt with every project that comes up. Every

0:14:10.080 --> 0:14:12.080
<v Speaker 1>sprint does a little bit different. You don't need the

0:14:12.080 --> 0:14:13.560
<v Speaker 1>same team every time anymore.

0:14:14.200 --> 0:14:14.400
<v Speaker 4>You know.

0:14:14.440 --> 0:14:16.000
<v Speaker 3>One of the things that I think about when we

0:14:16.000 --> 0:14:18.320
<v Speaker 3>were talking on our planning call early this morning with

0:14:18.360 --> 0:14:22.520
<v Speaker 3>our producer Paul Brennan, is the idea of how you

0:14:22.880 --> 0:14:28.120
<v Speaker 3>take lessons from physics, bioscience and nature and then kind

0:14:28.120 --> 0:14:32.160
<v Speaker 3>of mix that in with organizational research so to kind

0:14:32.160 --> 0:14:35.080
<v Speaker 3>of get to what you put out in this book,

0:14:35.120 --> 0:14:37.920
<v Speaker 3>Powering Change, give me get talk to me a little

0:14:37.920 --> 0:14:41.280
<v Speaker 3>bit about about physics and bioscience. What that teaches us

0:14:41.320 --> 0:14:44.800
<v Speaker 3>in terms of maybe creating a better workforce or a

0:14:44.800 --> 0:14:46.320
<v Speaker 3>better group of employees.

0:14:47.840 --> 0:14:49.760
<v Speaker 1>Yeah, so the growth curve that we were just talking

0:14:49.800 --> 0:14:52.360
<v Speaker 1>about is one example of science or physics. If you

0:14:52.400 --> 0:14:53.960
<v Speaker 1>take it on down the other side of the curve,

0:14:54.000 --> 0:14:56.800
<v Speaker 1>you have a sign wave and once you hop onto

0:14:56.800 --> 0:14:59.560
<v Speaker 1>the next curve, as they teach in all your strategy courses,

0:15:00.080 --> 0:15:02.520
<v Speaker 1>then you couple them together and it looks like a

0:15:02.640 --> 0:15:07.000
<v Speaker 1>DNA he looks over time. So if you boil down everything,

0:15:07.040 --> 0:15:11.400
<v Speaker 1>and I mean everything, humans, animals, plants, and organizations, we're

0:15:11.440 --> 0:15:14.080
<v Speaker 1>all made of energy and data at our core.

0:15:14.440 --> 0:15:14.880
<v Speaker 4>That's it.

0:15:14.880 --> 0:15:16.840
<v Speaker 1>It's that simple. So if you figure out how to

0:15:16.880 --> 0:15:19.280
<v Speaker 1>tap into your energy, if you figure out what jazz

0:15:19.400 --> 0:15:22.360
<v Speaker 1>is you up and then you know how to produce,

0:15:22.640 --> 0:15:25.520
<v Speaker 1>you'll be more innovative and you'll be more engaged. And

0:15:25.560 --> 0:15:28.600
<v Speaker 1>the same is with organizations. If they really understand which

0:15:28.600 --> 0:15:31.640
<v Speaker 1>phase of that life cycle they're in, is it birth, growth, maturity,

0:15:31.720 --> 0:15:35.520
<v Speaker 1>like a cash cow, or decline, then they can understand

0:15:35.640 --> 0:15:38.200
<v Speaker 1>how to plan ahead to the next step as well

0:15:38.240 --> 0:15:41.320
<v Speaker 1>as get as much juice out of what they can

0:15:41.520 --> 0:15:42.400
<v Speaker 1>for the current phase.

0:15:43.120 --> 0:15:47.200
<v Speaker 2>Have you worked with companies that are in decline absolutely?

0:15:47.560 --> 0:15:53.880
<v Speaker 1>Absolutely well. They use things like all of the key

0:15:54.040 --> 0:15:57.520
<v Speaker 1>business models that are out there, like human design or

0:15:57.560 --> 0:16:01.520
<v Speaker 1>total quality management. They all fit on the growth curve somewhere.

0:16:01.600 --> 0:16:04.160
<v Speaker 1>So if this is a decline phase client, then you're

0:16:04.160 --> 0:16:07.080
<v Speaker 1>going to use something like human design or design thinking

0:16:07.440 --> 0:16:10.320
<v Speaker 1>in order to leap onto the next curve, something creative.

0:16:10.480 --> 0:16:14.320
<v Speaker 1>If you're working with a scaling company or a growing organization,

0:16:14.680 --> 0:16:17.560
<v Speaker 1>that's when you're going to use things like lean six

0:16:17.640 --> 0:16:23.560
<v Speaker 1>sigma and you're going to streamline and make it more scalable. Hmm.

0:16:24.480 --> 0:16:26.280
<v Speaker 3>I'm trying to figure out because I feel like, to

0:16:26.400 --> 0:16:28.640
<v Speaker 3>be fair, Tabitha, you know, we have a lot of

0:16:28.640 --> 0:16:30.400
<v Speaker 3>guests on that. I feel like we talk about how

0:16:30.440 --> 0:16:32.440
<v Speaker 3>do you how do you motivate workers? How do you

0:16:32.480 --> 0:16:35.200
<v Speaker 3>do it? And six sigma I think, you know, it

0:16:35.280 --> 0:16:39.400
<v Speaker 3>was certainly a powerful tool of Jack Welt and his disciples.

0:16:39.440 --> 0:16:43.240
<v Speaker 3>I think some might be rethinking some of that, But

0:16:43.320 --> 0:16:47.160
<v Speaker 3>I do wonder in this environment where you have increasingly

0:16:47.240 --> 0:16:51.040
<v Speaker 3>employees who want balance or the flexibility to work from home,

0:16:51.800 --> 0:16:55.920
<v Speaker 3>you know that doesn't necessarily always coincide with an employees

0:16:56.360 --> 0:16:59.320
<v Speaker 3>or employer's goals, like how do you? I don't know,

0:16:59.360 --> 0:17:01.720
<v Speaker 3>how do you? What's the right conversation around that?

0:17:03.280 --> 0:17:05.160
<v Speaker 1>Yeah, there's a number of ways that you can look

0:17:05.160 --> 0:17:09.080
<v Speaker 1>at that. Knowing that the core of that person is energy.

0:17:09.160 --> 0:17:11.640
<v Speaker 1>What is the thing that energizes them and how can

0:17:11.680 --> 0:17:13.919
<v Speaker 1>they do more of it? Maybe they're not able to

0:17:13.960 --> 0:17:16.480
<v Speaker 1>work at home every day, but can you give them

0:17:16.480 --> 0:17:19.480
<v Speaker 1>one day a week. Maybe they're not able to stay

0:17:19.480 --> 0:17:22.879
<v Speaker 1>in an office of whole day, So maybe you gamify

0:17:22.920 --> 0:17:25.840
<v Speaker 1>it by saying, Okay, at lunch, you get to go

0:17:25.920 --> 0:17:28.320
<v Speaker 1>outside and go for a walk. Whatever it is that

0:17:28.359 --> 0:17:31.320
<v Speaker 1>person enjoys, and you can find it for yourself. If

0:17:31.320 --> 0:17:33.800
<v Speaker 1>you love mentoring, try to do more of that. If

0:17:33.840 --> 0:17:36.280
<v Speaker 1>you love dark chocolate, you know, if you get all

0:17:36.280 --> 0:17:39.119
<v Speaker 1>your reports done, have some dark chocolate. It sounds silly,

0:17:39.240 --> 0:17:41.399
<v Speaker 1>but as long as you have something that brings your

0:17:41.480 --> 0:17:43.560
<v Speaker 1>vibe up, because we're made of energy, you'll be more

0:17:43.600 --> 0:17:44.800
<v Speaker 1>productive and more engaged.

0:17:45.160 --> 0:17:48.119
<v Speaker 3>You got my attention when you say chocolate, Tabitha, I

0:17:48.160 --> 0:17:51.480
<v Speaker 3>really appreciate your time. Tabitha Scott Scott, excuse me, Tabitha Scott.

0:17:51.560 --> 0:17:53.399
<v Speaker 3>She's the author of a new book. It's out today,

0:17:53.440 --> 0:17:57.200
<v Speaker 3>Powering Change the hidden resource to unleash potential, productivity and profits.

0:17:57.280 --> 0:17:58.160
<v Speaker 3>Treading us from Denver