WEBVTT - Public Safety and Security at the Super Bowl

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<v Speaker 1>This is Bloomberg Business Week. I'm Carol Masser and I'm

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<v Speaker 1>Bloomberg Quick Takes Tim Stanebeck. We're here every day bringing

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<v Speaker 1>Week reporters and editors, not to mention our journalists and

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<v Speaker 1>pm Eastern Time on Bloomberg Radio or watch us on

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<v Speaker 1>YouTube search Bloomberg Global News. Global virus cases now topping

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<v Speaker 1>one d four point five million deaths, surpassing two point

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<v Speaker 1>two million. We've had more than a hundred and eight

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<v Speaker 1>million COVID shots given around the globe, so let's get

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<v Speaker 1>into our virus guests. Great to have joining us once again.

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<v Speaker 1>Dr William moss He is Executive director of the International

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<v Speaker 1>Vaccine Access Center, Professor in the Departments of Epidemiology, International Health,

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<v Speaker 1>and Molecular Microbiology and Immunology at the Johns Hopkins Bloomberg

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<v Speaker 1>School of Public Health, which, as you know, supported by

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<v Speaker 1>Michael R. Bloomberg, founder of Bloomberg ALP and Bloomberg Philanthropies.

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<v Speaker 1>Dot the Moss back with us on the phone from Baltimore. Bill,

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<v Speaker 1>Nice to have you here once again on Bloomberg. So

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<v Speaker 1>I gotta say, I'm starting to feel optimistic because I

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<v Speaker 1>know people, um in my world that are getting the vaccine.

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<v Speaker 1>It looks like the flow is opening up. Tell me

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<v Speaker 1>how you're seeing it. What are you seeing in terms

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<v Speaker 1>of COVID cases and then the vaccine getting out to people. Yes,

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<v Speaker 1>thanks Caroline, it's my pleasure to be back with you. Um.

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<v Speaker 1>So we are seeing some positive signs. It doesn't mean

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<v Speaker 1>we can let our our guard down, um, particularly with

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<v Speaker 1>a Super Bowl coming and and we don't want another

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<v Speaker 1>super spreading event. But we are seeing case numbers come

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<v Speaker 1>down in the United States yesterday a hundred nineteen cases.

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<v Speaker 1>That's down from about two hundred and fifty thou cases

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<v Speaker 1>in early January. So we're really down on cases. UM.

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<v Speaker 1>We are still seeing tragically high numbers of death. The

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<v Speaker 1>death numbers always kind of lag the case numbers by

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<v Speaker 1>a couple of weeks. We're still at about three three

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<v Speaker 1>thoight hundred deaths yesterday, so that's that's obviously still tragically high.

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<v Speaker 1>Our test positivity around eight percent, still much higher than

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<v Speaker 1>we'd like it. But we are seeing the case come

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<v Speaker 1>the case numbers come down, and as you pointed out,

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<v Speaker 1>we're getting more vaccines out over fifty five million doses distributed. Um,

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<v Speaker 1>we've gotten over thirty four million doses into arms. That's

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<v Speaker 1>about those distributed. Uh, we're doing much better and getting

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<v Speaker 1>vaccines doses into people. And I think this combination of

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<v Speaker 1>you know, the case numbers come down. If that we

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<v Speaker 1>continue that trend and in continue to do better and

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<v Speaker 1>better and getting people vaccinated, we may be seeing the

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<v Speaker 1>light at the end of the tunnel. But again that's

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<v Speaker 1>not going to be for a couple more months. People

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<v Speaker 1>still need to practice. They're good public health measures. Yeah,

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<v Speaker 1>it's it's amazing to hear you rattle off these statistics

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<v Speaker 1>because it's all relative, right. I mean, we're in a

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<v Speaker 1>worse place than than we've been than we were in

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<v Speaker 1>a few months ago, but a much better place than

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<v Speaker 1>we were in a few weeks ago. So I guess

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<v Speaker 1>context is everything. UM. I do wonder about the new

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<v Speaker 1>Strain bill because these this decline in numbers that we're

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<v Speaker 1>seeing is also coming at a time where in recent

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<v Speaker 1>weeks we've heard about the discovery of new and potentially

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<v Speaker 1>more transmittable strains. You're exactly right, Tim, And you know, uh,

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<v Speaker 1>this the surge that we saw probably you know, in

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<v Speaker 1>in throughout January was probably related to the holidays and

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<v Speaker 1>holiday gatherings, and so we're seeing that fall off. Um.

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<v Speaker 1>But you're exactly right. These uh, these new variants of

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<v Speaker 1>the virus that are more transmissible, and particularly of concern

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<v Speaker 1>there's some suggestion that perhaps they may cause more severe

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<v Speaker 1>disease and and maybe able to escape some of the

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<v Speaker 1>protective immunity conferred by our vaccines, not completely. And and

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<v Speaker 1>we think these vaccines are still going to be really

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<v Speaker 1>good about preventing severe disease, hospitalizations and depth. Um. But

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<v Speaker 1>but we need to be on guard, um, and we

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<v Speaker 1>need to be ready for um increasing circulation in our

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<v Speaker 1>communities of these more transmissible virus variants. UM. So that

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<v Speaker 1>is something we're gonna have to watch very carefully. And

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<v Speaker 1>that's what we're worried about, that these variants being more contagious,

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<v Speaker 1>right and and and circulating as you said, more easily

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<v Speaker 1>and more quickly. That even though we're vaccinating. If we

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<v Speaker 1>don't have enough of our population vaccinated, that can create

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<v Speaker 1>a whole other wave. Yes, you're right, and it's it's

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<v Speaker 1>why it's so urgent right now. UM, before these these variants,

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<v Speaker 1>these more transmissible variants become the dominant of viruses circulating

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<v Speaker 1>in our communities, that we do everything we can to

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<v Speaker 1>decrease the transmission of this virus, and that includes as

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<v Speaker 1>quickly as possible, getting more people vaccinated and really doubling

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<v Speaker 1>down on our public health measures to prevent transmission. The

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<v Speaker 1>more this virus transmits, the more it's going to mutate

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<v Speaker 1>UH and create further problems for us. So we I

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<v Speaker 1>think we have a short window of time right now

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<v Speaker 1>to really try to clamp this down. What's the best

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<v Speaker 1>way to increase vaccine distribution because at the current rate

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<v Speaker 1>we're going right now, which is about one point three

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<v Speaker 1>four million vaccines each day, UM, it will take months

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<v Speaker 1>to reach immunity in this country. Right There are a

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<v Speaker 1>number of steps that can be taken, and I think

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<v Speaker 1>the Biden administration is working on this. I think of

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<v Speaker 1>it UH in in kind of the four d s

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<v Speaker 1>UH doses, delivery, demand and data, and so we certainly

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<v Speaker 1>need to increase the number of doses. There are there

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<v Speaker 1>are limitations on how many vaccines can be manufactured, but

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<v Speaker 1>there are efforts to increase the number of doses, purchase

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<v Speaker 1>more doses for the US population, and also bring on

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<v Speaker 1>hopefully in the next few weeks Um, you know, maybe

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<v Speaker 1>new vaccines such as the Johnson and Johnson vaccine. We

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<v Speaker 1>were waiting for the results of their Phase three trial.

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<v Speaker 1>We need to improve our delivery. That's increasing the number

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<v Speaker 1>of vaccinators, increasing the number of sites where vaccines are

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<v Speaker 1>being delivered. We're already seeing a lot of progress on

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<v Speaker 1>that front. And then on the demand side, we need

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<v Speaker 1>to make sure that we target our public health messaging

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<v Speaker 1>to those communities that have mistrust or skept or a

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<v Speaker 1>skeptical of the vaccine and and and build that trust.

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<v Speaker 1>Dr moss Um, one day, I wanted to follow up

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<v Speaker 1>on you said something about having a short window to

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<v Speaker 1>get the vaccines out before these virus mutations really pick

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<v Speaker 1>up a lot of momentum. How short is that window? Yes, Carol,

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<v Speaker 1>you know, the Center's a disease control and prevention predicted

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<v Speaker 1>that the variant that we know scientifically as B one

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<v Speaker 1>one seven that was first identified in the United Kingdom

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<v Speaker 1>would become the dominant virus variant in the United States

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<v Speaker 1>and in March, in mid March, so you know, I

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<v Speaker 1>would say, we really need to decrease our trans the

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<v Speaker 1>transmission in this country, you know, over the next four

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<v Speaker 1>to eight weeks, and that's gonna include getting really increasing

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<v Speaker 1>the number of people vaccinated as well as continuing our

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<v Speaker 1>our basic public health measures. There was a really interesting

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<v Speaker 1>story by the Associated Press that came out this morning

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<v Speaker 1>bill that talked about the need to vaccinate around the

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<v Speaker 1>world and not just focus on country by country. The

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<v Speaker 1>International Federation the Red Cross and Red Crescent Societies. They

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<v Speaker 1>found that the fifty poorest countries have received only one

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<v Speaker 1>tenth of one percent of total vaccine doses that have

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<v Speaker 1>been administered worldwide so far. Here's why that matters, though,

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<v Speaker 1>because that inequality, according to them, could potentially backfired a

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<v Speaker 1>deadly and devastating effect, because areas of the globe that

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<v Speaker 1>remain unvaccinated could allow the virus to spread and mutate.

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<v Speaker 1>So even if somebody is vaccinated against a strain that

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<v Speaker 1>could be developed in another country. Right, Yes, this is

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<v Speaker 1>a really important point, Tim, and you know, obviously the

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<v Speaker 1>pandemic has been particularly tragic in the United States, and

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<v Speaker 1>the United States certainly has the highest case numbers and debts.

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<v Speaker 1>But we also need to be looking globally and and

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<v Speaker 1>ensuring equitable access to vaccines around the world. That's really

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<v Speaker 1>hard right now when when vaccine supply is scarce UM.

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<v Speaker 1>But there are efforts led by the World Health Organization

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<v Speaker 1>UM to procure vaccines through a number of mechanisms and

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<v Speaker 1>from a number of vaccine manufacts lectures and be able

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<v Speaker 1>to ultimately provide enough doses to the population UH in

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<v Speaker 1>all all countries around the world, and particularly they're focused

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<v Speaker 1>obviously on the low and middle income countries. But you're right,

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<v Speaker 1>this is a global pandemic and unless we have a

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<v Speaker 1>global effort, we're not going to stop it. And this

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<v Speaker 1>virus has shown us that it can mutate more quickly

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<v Speaker 1>than I think many experts anticipated, and if there's ongoing

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<v Speaker 1>transmission in parts of the world, everyone's impacted by that. Yeah, absolutely, UM.

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<v Speaker 1>What is you know, in terms of the headlines that

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<v Speaker 1>you're focusing on right now, what are they? Yes, I

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<v Speaker 1>think the big one is the concern around the new

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<v Speaker 1>variants UH that are both more transmissible and potentially UM

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<v Speaker 1>we have vaccines that are less effective. We've seen, for example,

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<v Speaker 1>in the trials of the John's and the Jonasan vaccine

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<v Speaker 1>and Nova vax vaccine UM that they do have reduced

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<v Speaker 1>UH efficacy against the variant that was first identified in

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<v Speaker 1>South Africa. UM. Fortunately, they still seem to protect against

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<v Speaker 1>severe disease and that should be our number one goal.

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<v Speaker 1>We want to stop hospitalizations and stop death, and that

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<v Speaker 1>was something that came up in the conversation we had

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<v Speaker 1>with Jay Jay's US Chief Scientific officer just about one

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<v Speaker 1>week ago. Hey, Bill, thank you so much, really appreciate it.

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<v Speaker 1>Dr William Moss. He is Professor of epidemiology at Johns

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<v Speaker 1>Hopkins Bloomberg School of Public Health. Of course, as you know,

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<v Speaker 1>supported by Michael R. Bloomberg, founder, Bloomberg Galp and Bloomberg Philanthropies.

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<v Speaker 1>Bill also the executive director of the International Vaccine Access Center.

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<v Speaker 1>Joining us once again on the phone from Baltimore. This

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<v Speaker 1>is Bloomberg Business Week with Carol Masser and Bloomberg Quick

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<v Speaker 1>Takes Tim Stinovich from Bloomberg Radio. Let's not forget there's

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<v Speaker 1>a lot going on. We just heard from President Biden

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<v Speaker 1>giving his first foreign policy speech. We cannot forget though,

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<v Speaker 1>kind of on the end of the spectrum is we've

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<v Speaker 1>got the Super Bowl fifty five is happening this weekend.

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<v Speaker 1>We're typically there at Radio Row outside of it, talking

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<v Speaker 1>to all members of the sports community about the big Game.

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<v Speaker 1>It's a different world. It's a COVID world. Yeah, it's

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<v Speaker 1>not just different for us and for the players and

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<v Speaker 1>the viewers, but of course different for the fans who

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<v Speaker 1>will or will not be in attendance right exactly, it's

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<v Speaker 1>going to be much limited and socially distanced. Um. But

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<v Speaker 1>for most of us we also will of course watch

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<v Speaker 1>the big Game from at home. But one of the

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<v Speaker 1>things that's always there, uh, no matter what year it

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<v Speaker 1>is is security concerns around the big Game and keeping

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<v Speaker 1>everybody connected. So great to have back with us. William Bratton.

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<v Speaker 1>He's former New York City and Boston Police Commissioner, former

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<v Speaker 1>Chief of the l A Police Department, Chairman of Risk

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<v Speaker 1>Advisory over to NEO Commissioner. Bratton is on the phone

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<v Speaker 1>in New York. Also with us is Andreas Orlando. He

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<v Speaker 1>is President of the Public Sector and a Verizon connect

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<v Speaker 1>over at Verizon, he's also a senior VP there, which

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<v Speaker 1>is investing millions in expanding permanent five G deployments in

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<v Speaker 1>and around the Tampa area around the Big Game. He

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<v Speaker 1>joins us on the phone, Atlanta, gentlemen, so nice to

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<v Speaker 1>have you here with US Commissioner Bratton. I want to

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<v Speaker 1>start with you, and we are going to talk about

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<v Speaker 1>security around the Big Game. We've got a nice chunk

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<v Speaker 1>of time here. I do have to ask you, though,

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<v Speaker 1>about President Biden, a new administration. When we are talking

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<v Speaker 1>about foreign policy, we're hearing about a lot of things.

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<v Speaker 1>When you look at the security and national security of

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<v Speaker 1>the United States, how do you see it and what

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<v Speaker 1>do you see as our biggest concerns right now? Is

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<v Speaker 1>it domestic terrorism? Uh? I believe it is domestic terrorism

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<v Speaker 1>at the moment. They'll always be concerned with international tourism,

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<v Speaker 1>But this year, I think that has been divide uh

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<v Speaker 1>thially after January six, uh usue with domestic terrorism is

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<v Speaker 1>first and foremost. International terrorism, interesting enough, has been relatively

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<v Speaker 1>quiet as it relates to efforts directed against the United States. Well,

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<v Speaker 1>you've neific a number of much now, and I think

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<v Speaker 1>that's one of the reasons why domestic terrorism is attracting

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<v Speaker 1>so much attention. Is what had been concerned since nine

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<v Speaker 1>eleven hasn't fact and diminished significantly. Commissioner written, how do

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<v Speaker 1>we get that under control? In the United States? It's

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<v Speaker 1>gonna be much much more difficult. That I've took over

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<v Speaker 1>the lapt in two thousand two, and at that time

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<v Speaker 1>one of the first priorities to me was getting the

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<v Speaker 1>LAPT up and running to deal with the two threat

0:13:29.679 --> 0:13:34.120
<v Speaker 1>of international terrorism. UH. Local police forces had very little

0:13:34.160 --> 0:13:37.559
<v Speaker 1>to do with terrorism Currens prior to Night eleven. That

0:13:37.640 --> 0:13:42.000
<v Speaker 1>was lastly responsible. After to Night eleven we had to

0:13:42.040 --> 0:13:45.480
<v Speaker 1>focus on and have focused on for the ensuing now

0:13:45.480 --> 0:13:49.959
<v Speaker 1>all's point heat is But the issue UH now is

0:13:50.160 --> 0:13:53.240
<v Speaker 1>Christian poemost domestic terrorism, and that's gonna be much more

0:13:53.280 --> 0:13:56.440
<v Speaker 1>difficult because very limited in terms of the laws we

0:13:56.520 --> 0:14:00.000
<v Speaker 1>have that they lost past depth of eleven allow us

0:14:00.040 --> 0:14:04.520
<v Speaker 1>to effectively deal with all and terrorism issues here in

0:14:04.520 --> 0:14:07.160
<v Speaker 1>the United States, we don't have a lot of those

0:14:07.679 --> 0:14:10.280
<v Speaker 1>laws that work. So wealthless so I do want to

0:14:10.280 --> 0:14:14.040
<v Speaker 1>talk of the issues. Oh go please finish, No, no, no,

0:14:14.080 --> 0:14:18.160
<v Speaker 1>please finish. They also had the additional issue in the

0:14:18.240 --> 0:14:22.440
<v Speaker 1>United States guns. We have more guns than the people.

0:14:22.760 --> 0:14:25.400
<v Speaker 1>In the last month two million guns and gold the

0:14:25.480 --> 0:14:29.000
<v Speaker 1>United States. I think that's the highest funds ever and

0:14:29.040 --> 0:14:32.720
<v Speaker 1>so Paris would have to basically try and bring guns

0:14:32.720 --> 0:14:38.880
<v Speaker 1>into it. They've already here that four hundred billion guns

0:14:38.920 --> 0:14:42.320
<v Speaker 1>and people in many states allowed to carry them overly

0:14:43.080 --> 0:14:46.120
<v Speaker 1>been in a number of states ports in Michigan the

0:14:46.280 --> 0:14:49.680
<v Speaker 1>open carry laws that people along with all types of

0:14:49.800 --> 0:14:54.360
<v Speaker 1>weapons or allowed to park them out with. We have

0:14:54.520 --> 0:14:59.600
<v Speaker 1>a very different situations that be very difficult yet under control.

0:15:00.120 --> 0:15:05.000
<v Speaker 1>Now it's not on. Yeah, that's a such a bigger issue.

0:15:05.280 --> 0:15:07.320
<v Speaker 1>We're gonna come back to some more serious topics, but

0:15:07.560 --> 0:15:09.840
<v Speaker 1>I do want to talk a little bit about the game.

0:15:09.920 --> 0:15:11.520
<v Speaker 1>I think for me, I kind of was like, oh

0:15:11.560 --> 0:15:13.560
<v Speaker 1>my god, the social it's the super Bowl this weekend,

0:15:13.560 --> 0:15:15.880
<v Speaker 1>because it just kind of crept up on us in

0:15:15.880 --> 0:15:19.560
<v Speaker 1>in this virtual, socially distanced world. It's just such a

0:15:19.600 --> 0:15:23.520
<v Speaker 1>different year. Um, Andreas, come on in on it and uh,

0:15:24.080 --> 0:15:27.560
<v Speaker 1>we were talking with your team members at Verizon last

0:15:27.600 --> 0:15:31.360
<v Speaker 1>year this time in Florida, we were there at the game.

0:15:31.400 --> 0:15:34.240
<v Speaker 1>Tell us about Verizon in their involvement and making sure

0:15:34.320 --> 0:15:37.360
<v Speaker 1>that everyone who's in and around the game stays connected

0:15:37.400 --> 0:15:42.320
<v Speaker 1>and make sure that everybody is safe and secure. Yeah,

0:15:42.400 --> 0:15:45.960
<v Speaker 1>it's I'm glad to hear you talked to our the

0:15:46.080 --> 0:15:50.120
<v Speaker 1>last year. We have been doing this now UH, side

0:15:50.120 --> 0:15:55.040
<v Speaker 1>by side with first responders for decades. Every Super Bowl,

0:15:55.200 --> 0:15:59.680
<v Speaker 1>every major event like this, we are our teams roll

0:15:59.720 --> 0:16:03.000
<v Speaker 1>out and have a presence with first responders to ensure

0:16:03.080 --> 0:16:06.040
<v Speaker 1>that UH they in the communities that they serve or

0:16:06.120 --> 0:16:08.720
<v Speaker 1>say during a big event like the Super Bowl, and

0:16:08.720 --> 0:16:12.560
<v Speaker 1>this year is it's no different the same playbook that

0:16:12.600 --> 0:16:14.920
<v Speaker 1>we had last year. Obviously we update it and we

0:16:14.960 --> 0:16:17.400
<v Speaker 1>have to account for COVID and some of the unique

0:16:19.240 --> 0:16:22.560
<v Speaker 1>aspects of this year's event. But we have again our

0:16:23.600 --> 0:16:28.000
<v Speaker 1>Verizon Command Center, which is UH something we do every year.

0:16:28.240 --> 0:16:31.120
<v Speaker 1>On the ground, we have over a hundred engineers and

0:16:31.160 --> 0:16:35.720
<v Speaker 1>technicians who are monitoring and managing the network around the

0:16:35.760 --> 0:16:39.280
<v Speaker 1>clock in and around the actual stadium Raymond James where

0:16:39.280 --> 0:16:41.880
<v Speaker 1>the teams will be playing, but also in the greater

0:16:42.040 --> 0:16:45.880
<v Speaker 1>Tampa area. And this is an incredible source of pride

0:16:45.920 --> 0:16:49.720
<v Speaker 1>for our company h to ensure that the event goes

0:16:49.760 --> 0:16:53.560
<v Speaker 1>off with with without a hitch we UM. We're also

0:16:53.680 --> 0:16:57.960
<v Speaker 1>on site in the Florida State Joint Emergency Operations Center. UH.

0:16:58.080 --> 0:17:01.720
<v Speaker 1>This is where all of the law enforcement in public

0:17:01.760 --> 0:17:05.399
<v Speaker 1>safety agencies, including of course the Tampa Police Department, have

0:17:05.520 --> 0:17:10.760
<v Speaker 1>a presence UM and are communicating and uh collaborating real time.

0:17:11.000 --> 0:17:12.920
<v Speaker 1>And we have a team on the ground as part

0:17:12.960 --> 0:17:15.840
<v Speaker 1>of that to ensure that we're doing everything we can

0:17:15.960 --> 0:17:20.320
<v Speaker 1>to help first responders and public safety agencies make this

0:17:20.920 --> 0:17:24.160
<v Speaker 1>event as safe as it possibly can. And as I said,

0:17:24.200 --> 0:17:27.679
<v Speaker 1>you know, COVID changes some of the dynamic um of

0:17:27.760 --> 0:17:31.320
<v Speaker 1>the game and UH and of the situation, but our

0:17:31.359 --> 0:17:35.600
<v Speaker 1>commitment as America's number one network for public safety remains

0:17:35.640 --> 0:17:40.399
<v Speaker 1>the same. It's twofold one. We're working over time to

0:17:40.520 --> 0:17:43.600
<v Speaker 1>ensure that first responders stay connected when it matters most

0:17:44.119 --> 0:17:47.520
<v Speaker 1>um and whether that's on our four G LTE network,

0:17:47.560 --> 0:17:50.679
<v Speaker 1>America's most reliable, or on our five G network, the

0:17:50.720 --> 0:17:55.440
<v Speaker 1>world's fastest, in most advanced and two UM. We are

0:17:55.520 --> 0:17:59.240
<v Speaker 1>working with first responders in the public safety community to

0:17:59.280 --> 0:18:02.880
<v Speaker 1>make sure they have most advanced solutions and technologies they

0:18:02.920 --> 0:18:07.119
<v Speaker 1>need to keep the community and themselves UH safe. And

0:18:07.320 --> 0:18:10.840
<v Speaker 1>you know what, it's generally a generally a pretty safe event,

0:18:10.960 --> 0:18:13.760
<v Speaker 1>but a lot goes into making it that way. And

0:18:13.880 --> 0:18:17.040
<v Speaker 1>obviously there's always, uh, there's always risks for things to

0:18:17.080 --> 0:18:19.879
<v Speaker 1>happen well and you know, Commissioner Protton, come on, come on,

0:18:19.920 --> 0:18:23.040
<v Speaker 1>back in on this conversation, because what's different about this

0:18:23.160 --> 0:18:26.160
<v Speaker 1>securities You know, this year's security plans around the big

0:18:26.160 --> 0:18:29.080
<v Speaker 1>game versus what we've seen in years past when it's

0:18:29.080 --> 0:18:34.320
<v Speaker 1>a much more quote unquote normal year. Double things. First off,

0:18:35.600 --> 0:18:39.760
<v Speaker 1>significant focus on COVID that ship large part of the

0:18:39.800 --> 0:18:44.240
<v Speaker 1>public safety focused on the idea of trying to the

0:18:44.240 --> 0:18:49.119
<v Speaker 1>best of their bility, UM courage the social distancing. Wearing

0:18:49.119 --> 0:18:54.520
<v Speaker 1>a mask to do that is minimal. UH, if you will,

0:18:55.400 --> 0:19:00.960
<v Speaker 1>uh use of police resources for that of the encouraging

0:19:01.359 --> 0:19:05.000
<v Speaker 1>that may be worn in the social distancing. But the

0:19:05.080 --> 0:19:10.879
<v Speaker 1>security issue this year is multifaceted because of COVID. Good

0:19:10.880 --> 0:19:12.960
<v Speaker 1>news is that I was just speaking to the chief

0:19:12.960 --> 0:19:16.520
<v Speaker 1>of the Camp Police Department this morning coordinating the over

0:19:16.640 --> 0:19:19.560
<v Speaker 1>seventy agencies will be involved in the public safety effort

0:19:19.600 --> 0:19:25.719
<v Speaker 1>down there, and they leave at this juncture that there's

0:19:25.880 --> 0:19:31.040
<v Speaker 1>no direct threat either international terrorism or domestic terrorism corrected

0:19:31.160 --> 0:19:34.280
<v Speaker 1>against the event. UH. That's good news, and they will

0:19:34.320 --> 0:19:36.720
<v Speaker 1>watch that very closely in the run up to the event.

0:19:37.200 --> 0:19:39.520
<v Speaker 1>But after the events of January six, more concerns with

0:19:39.640 --> 0:19:44.320
<v Speaker 1>the demonstrations, UH in Tampa around the issues that we're

0:19:44.960 --> 0:19:48.760
<v Speaker 1>in the forefront of the January sixth event, and there

0:19:48.840 --> 0:19:51.199
<v Speaker 1>is no evidence that that's going to have to down there,

0:19:51.359 --> 0:19:53.840
<v Speaker 1>that's in reduced. Well, how how has the role of

0:19:54.280 --> 0:19:56.960
<v Speaker 1>law enforcement changed in the wake of what we saw

0:19:57.160 --> 0:20:00.440
<v Speaker 1>on January six How is the thinking a round law

0:20:00.520 --> 0:20:04.919
<v Speaker 1>enforcement change now getting that clear indication that this is

0:20:04.960 --> 0:20:08.960
<v Speaker 1>such an issue in this country. Well, it is the

0:20:09.040 --> 0:20:12.639
<v Speaker 1>point I was making earlier that they here that they

0:20:12.640 --> 0:20:15.000
<v Speaker 1>don't have to try to get into the country illegally,

0:20:15.080 --> 0:20:17.840
<v Speaker 1>they don't have to create a cell. Uh, They're already here,

0:20:18.040 --> 0:20:21.840
<v Speaker 1>and they are heavily u the incredibly well trained. I'm

0:20:21.840 --> 0:20:24.960
<v Speaker 1>talking about the the far right militants that some of

0:20:25.000 --> 0:20:30.040
<v Speaker 1>these militias and probably types that about them, and that

0:20:30.280 --> 0:20:33.320
<v Speaker 1>is of concern. And we are also very limited ability

0:20:33.400 --> 0:20:36.439
<v Speaker 1>to wantitor some of their activities because again this is

0:20:36.600 --> 0:20:42.000
<v Speaker 1>domestic terrorism rather than international terrorism. So that's a significant limitation.

0:20:42.160 --> 0:20:45.440
<v Speaker 1>And the technology of today. We've been talking about technology

0:20:45.440 --> 0:20:49.159
<v Speaker 1>and thankfully visons bringing the latest technology that there is

0:20:49.600 --> 0:20:53.040
<v Speaker 1>to this event, but a lot of the technology is

0:20:53.080 --> 0:20:56.320
<v Speaker 1>now capable of being encrypted, so that significantly mitigates law

0:20:56.359 --> 0:21:00.640
<v Speaker 1>enforcements ability to monitor and keep control over um what's

0:21:00.680 --> 0:21:04.200
<v Speaker 1>going on here. But right now, as of this morning,

0:21:04.200 --> 0:21:07.040
<v Speaker 1>talking to the chief and then the sources, ideal within

0:21:07.080 --> 0:21:12.600
<v Speaker 1>the lasting world that there's no indication of direct fresh

0:21:12.720 --> 0:21:15.359
<v Speaker 1>against the event. It's a very different events. Certainly know

0:21:15.400 --> 0:21:18.400
<v Speaker 1>what was going on in Washington January six, which was political.

0:21:18.840 --> 0:21:23.280
<v Speaker 1>This is plebitrary sports. And uh, I think we're going

0:21:23.280 --> 0:21:27.120
<v Speaker 1>to have a very safe event, very happy event. And

0:21:27.280 --> 0:21:29.919
<v Speaker 1>uh I know which team I'll be looting for. Who

0:21:30.040 --> 0:21:36.920
<v Speaker 1>is it in Boston? Inoculator, you sound like our producer

0:21:36.960 --> 0:21:41.360
<v Speaker 1>Paul Brennan. You can you can take Tom Brady out

0:21:41.359 --> 0:21:47.560
<v Speaker 1>of Boston right right, New York, l A. I always

0:21:47.560 --> 0:21:50.040
<v Speaker 1>had to move for not the hometown team, but my

0:21:50.200 --> 0:21:53.640
<v Speaker 1>hometown of Boston. So same, same, same thing. This year,

0:21:54.840 --> 0:21:57.680
<v Speaker 1>Andrea has come back in here because in terms of

0:21:57.720 --> 0:22:00.200
<v Speaker 1>the way the network is is working at the game,

0:22:00.680 --> 0:22:04.200
<v Speaker 1>I'm wondering how you and Verise and think about prioritizing

0:22:04.640 --> 0:22:08.600
<v Speaker 1>certain services at a game like this, for example, making

0:22:08.600 --> 0:22:12.840
<v Speaker 1>sure fans can access Instagram or communicate with one another,

0:22:12.920 --> 0:22:17.160
<v Speaker 1>communicate with people back home versus police and first responders

0:22:17.200 --> 0:22:22.240
<v Speaker 1>be able to communicate with one another. Yeah, it's a

0:22:22.320 --> 0:22:26.600
<v Speaker 1>it's a great question. UM. It's something that is relevant

0:22:26.640 --> 0:22:28.840
<v Speaker 1>to an event like the Super Bowl, but it's something

0:22:28.840 --> 0:22:31.440
<v Speaker 1>that we think about in the operation of our network

0:22:31.720 --> 0:22:35.760
<v Speaker 1>every single day. So obviously UM for an event like

0:22:35.840 --> 0:22:40.040
<v Speaker 1>the Super Bowl, we reinforce the network. We add a

0:22:40.080 --> 0:22:45.200
<v Speaker 1>lot of capacity and bandwidth so that UH our customers

0:22:45.520 --> 0:22:48.040
<v Speaker 1>UM will all be able to use the network in

0:22:48.119 --> 0:22:51.840
<v Speaker 1>the ways that they would like. Of course, with five G,

0:22:52.040 --> 0:22:56.280
<v Speaker 1>where we've made a significant investment, there's even greater bandwidth

0:22:56.280 --> 0:22:59.720
<v Speaker 1>and speed and characteristics of the network that will help

0:22:59.760 --> 0:23:04.480
<v Speaker 1>customers in Tampa loan. In anticipation of this event, we've

0:23:05.280 --> 0:23:09.680
<v Speaker 1>invested over eighty million dollars UM in five G. UH.

0:23:09.760 --> 0:23:13.240
<v Speaker 1>Tampa is one of sixty four UH cities across the

0:23:13.280 --> 0:23:16.520
<v Speaker 1>country now that have our five G services, and so

0:23:16.720 --> 0:23:21.080
<v Speaker 1>there will be plenty of bandwidth and capacity on the

0:23:21.119 --> 0:23:26.840
<v Speaker 1>network to manage the demand. Now. Obviously, with first responders

0:23:26.840 --> 0:23:30.359
<v Speaker 1>in public safety, they have the highest level of priority

0:23:30.400 --> 0:23:33.439
<v Speaker 1>on our network, and we've built into our network not

0:23:33.560 --> 0:23:36.960
<v Speaker 1>just for the Super Bowl, but for every day and

0:23:37.119 --> 0:23:41.480
<v Speaker 1>for every part of the country where first responders have

0:23:42.080 --> 0:23:47.719
<v Speaker 1>access to voice UH priority and data priority UH. And

0:23:47.800 --> 0:23:51.680
<v Speaker 1>then if and when our network becomes congested ever UH,

0:23:51.680 --> 0:23:56.800
<v Speaker 1>they also have preemption UM, where we UH put first

0:23:56.840 --> 0:24:01.000
<v Speaker 1>responders and the public safety community of of everyone else

0:24:01.440 --> 0:24:05.200
<v Speaker 1>to get access to that network if if if that's necessary,

0:24:05.200 --> 0:24:09.040
<v Speaker 1>it's it's not often necessary, given how robustly we build

0:24:09.040 --> 0:24:12.879
<v Speaker 1>our networks. But yes, first responders and the public safety

0:24:12.920 --> 0:24:16.560
<v Speaker 1>community have the highest level of access on our network

0:24:16.800 --> 0:24:19.280
<v Speaker 1>every day. But that will be true with the Super

0:24:19.320 --> 0:24:22.080
<v Speaker 1>Bowl as well. So and have you Andreas in terms

0:24:22.119 --> 0:24:24.080
<v Speaker 1>of working from home? Have you I mean, is this

0:24:24.200 --> 0:24:26.080
<v Speaker 1>something that all of a sudden we've kind of had

0:24:26.119 --> 0:24:28.560
<v Speaker 1>to learn even more about kind of managing bandwidth? I mean,

0:24:28.600 --> 0:24:30.679
<v Speaker 1>have you guys learned a lot with everybody working at

0:24:30.680 --> 0:24:36.679
<v Speaker 1>home and tapping into networks? Absolutely? Absolutely, Um, we have

0:24:37.160 --> 0:24:39.600
<v Speaker 1>UH and I think we've talked quite publicly about this

0:24:39.720 --> 0:24:43.199
<v Speaker 1>and some of our earnings calls and other settings. But

0:24:43.280 --> 0:24:47.680
<v Speaker 1>early on in the pandemic, we saw a massive increase

0:24:48.000 --> 0:24:52.159
<v Speaker 1>in use of our of our network, UM, lots of

0:24:52.359 --> 0:24:57.560
<v Speaker 1>video as you can imagine, gaming really took off. And

0:24:57.600 --> 0:25:03.760
<v Speaker 1>while we maintained our our capacity and our usage to capacity,

0:25:03.800 --> 0:25:07.199
<v Speaker 1>which is a really important metric that we watch in

0:25:07.240 --> 0:25:12.160
<v Speaker 1>our networks in a constant throughout that period. UM, It's

0:25:12.240 --> 0:25:15.240
<v Speaker 1>it's clear that people working from home. The pandemic has

0:25:15.320 --> 0:25:18.600
<v Speaker 1>changed the way in my space I have the I

0:25:18.680 --> 0:25:21.160
<v Speaker 1>run the public sector part of our business. We've seen

0:25:21.280 --> 0:25:25.160
<v Speaker 1>governments work differently, we've seen people work from home, We've

0:25:25.200 --> 0:25:27.879
<v Speaker 1>seen uses of the network that didn't exist before, and

0:25:27.880 --> 0:25:30.840
<v Speaker 1>it's been it's been very instructive and and candidly. It's

0:25:30.920 --> 0:25:36.160
<v Speaker 1>very timely for the nationwide rollout of five G because

0:25:36.240 --> 0:25:40.680
<v Speaker 1>the character the unique characteristics the five G really are revolutionary.

0:25:40.720 --> 0:25:44.600
<v Speaker 1>They're not incremental to four G that the speeds that

0:25:44.680 --> 0:25:48.439
<v Speaker 1>we've never seen before, the latenty characteristic, these are all

0:25:48.480 --> 0:25:50.720
<v Speaker 1>going to make the kinds of use cases that the

0:25:50.800 --> 0:25:54.480
<v Speaker 1>pandemic is highlighted, it's gonna they're gonna make them even

0:25:54.560 --> 0:26:00.159
<v Speaker 1>more possible. So it's a good time technologically, uh or

0:26:00.200 --> 0:26:03.200
<v Speaker 1>the changes that we're seeing in usage patterns. Commissioner Britt

0:26:03.200 --> 0:26:04.920
<v Speaker 1>and I wanted to to shift gears a little bit

0:26:04.960 --> 0:26:07.240
<v Speaker 1>and and and talk with you about your thoughts around

0:26:07.880 --> 0:26:10.120
<v Speaker 1>defunding the police. It's something that we heard a lot

0:26:10.200 --> 0:26:12.880
<v Speaker 1>about over the summer in the wake of the death

0:26:12.920 --> 0:26:15.520
<v Speaker 1>of George Floyd, and I think there's a lot of

0:26:15.800 --> 0:26:18.600
<v Speaker 1>questions around what people mean when they say defund the police.

0:26:19.080 --> 0:26:22.600
<v Speaker 1>But the Brookings Institution says it means reallocating or redirecting

0:26:22.600 --> 0:26:25.320
<v Speaker 1>funding away from the police department in order to fund

0:26:25.359 --> 0:26:29.080
<v Speaker 1>other government agencies funded by the local municipality. Um, what

0:26:29.119 --> 0:26:33.040
<v Speaker 1>are your thoughts when you hear defund the police? Well,

0:26:33.080 --> 0:26:38.840
<v Speaker 1>I think the issue is that true, uh, was really

0:26:38.880 --> 0:26:41.520
<v Speaker 1>taken out of context in terms of how it was

0:26:41.560 --> 0:26:45.479
<v Speaker 1>initially presented, the idea of taking money resources away from

0:26:45.520 --> 0:26:48.920
<v Speaker 1>the police and putting them someplace else at a time

0:26:48.920 --> 0:26:52.480
<v Speaker 1>when actually there's an increased need law police services. Police

0:26:52.600 --> 0:26:56.639
<v Speaker 1>leaders are not opposed to the idea of defunding. It

0:26:56.800 --> 0:27:01.679
<v Speaker 1>is for purposes of reallocation of resources to take some

0:27:01.840 --> 0:27:06.080
<v Speaker 1>responsibilities away from the police that a better situated elsewhere,

0:27:06.080 --> 0:27:09.560
<v Speaker 1>particularly dealing with mental health issues, dealing with a myriad

0:27:09.680 --> 0:27:13.760
<v Speaker 1>of issues that wouldn't be handled by other city agencies

0:27:14.119 --> 0:27:18.880
<v Speaker 1>more appropriately. But oftentimes they would need to collaborate with

0:27:18.920 --> 0:27:21.240
<v Speaker 1>the police. That there are very few things that the

0:27:21.280 --> 0:27:24.960
<v Speaker 1>police deal with it could be handled exclusively by another agency.

0:27:25.240 --> 0:27:27.399
<v Speaker 1>This is where the importance of technology such as what

0:27:27.520 --> 0:27:30.600
<v Speaker 1>provis and provides is so important that this this need

0:27:30.760 --> 0:27:35.280
<v Speaker 1>to have collaborative into operability so that if money has

0:27:35.320 --> 0:27:39.200
<v Speaker 1>given over to a city agency to improve their mental

0:27:39.240 --> 0:27:43.400
<v Speaker 1>health resources and ability to respawned to mental health calls

0:27:43.440 --> 0:27:45.760
<v Speaker 1>along with the police. They are going to need to

0:27:45.800 --> 0:27:48.240
<v Speaker 1>have to be able to talk with the police, and

0:27:48.280 --> 0:27:50.800
<v Speaker 1>then going to need to be able to have radio

0:27:50.880 --> 0:27:54.400
<v Speaker 1>systems and data systems and video systems that allow them

0:27:54.440 --> 0:27:58.200
<v Speaker 1>to have seamless interoperability. And what provising has been doing

0:27:59.200 --> 0:28:02.520
<v Speaker 1>and so exciting, right is Dad these last twenty years

0:28:02.520 --> 0:28:05.679
<v Speaker 1>they've been able to pull that off. And so going forward, uh,

0:28:05.920 --> 0:28:08.399
<v Speaker 1>there will be efforts to take resources away from the

0:28:08.400 --> 0:28:12.639
<v Speaker 1>police and put the more appropriately elsewhere. The rum defunding, however,

0:28:12.760 --> 0:28:15.840
<v Speaker 1>is taking on a negative context, right idea no police

0:28:16.000 --> 0:28:19.280
<v Speaker 1>talking about taking police and reducing the size of police

0:28:19.280 --> 0:28:24.439
<v Speaker 1>force each other. But all right, got it, Bill, We've

0:28:24.480 --> 0:28:27.359
<v Speaker 1>got to jump in because they're running out of time here. Um,

0:28:27.400 --> 0:28:29.639
<v Speaker 1>both of you. Thank you so much. Bill Bratton, Chairman

0:28:29.680 --> 0:28:33.080
<v Speaker 1>of Risk, advisor of it to New Risk. And of

0:28:33.119 --> 0:28:38.160
<v Speaker 1>course Andreas Orlando over at Verizon he's president of Public

0:28:38.200 --> 0:28:41.600
<v Speaker 1>Sector of course, looking ahead to security, ahead of the

0:28:41.600 --> 0:28:48.800
<v Speaker 1>big game. Road a journal now, but you let me drive?

0:28:49.080 --> 0:28:53.840
<v Speaker 1>Oh no, no, no no, no, please, I'll do the riding.

0:28:54.320 --> 0:29:00.040
<v Speaker 1>L let me I want to drive, Just drive. The

0:29:03.280 --> 0:29:14.440
<v Speaker 1>question This is the drive to the Globe community. Thanks,

0:29:14.440 --> 0:29:18.520
<v Speaker 1>we'll try us on Bloomberg Radio. All right, just about

0:29:18.560 --> 0:29:20.720
<v Speaker 1>levin mids left in today's trading day, it is time

0:29:20.760 --> 0:29:22.240
<v Speaker 1>for the drive to the close. Back with us to

0:29:22.320 --> 0:29:25.040
<v Speaker 1>Sean Crue, senior market strateges A T. D Merrit trade

0:29:25.160 --> 0:29:27.640
<v Speaker 1>back with us on the phone from Chicago. Sean, Good

0:29:27.680 --> 0:29:32.720
<v Speaker 1>to have you here with us. How are you? Is

0:29:32.760 --> 0:29:37.120
<v Speaker 1>Sean there? We might be having some technical problems, so

0:29:37.480 --> 0:29:40.040
<v Speaker 1>we're hopefully going to get that line connected up so

0:29:40.080 --> 0:29:43.200
<v Speaker 1>we can bring in Sean. Just Thursday. Sometimes the gremlins

0:29:43.240 --> 0:29:46.080
<v Speaker 1>coming out at the top of the show, didn't they Yeah,

0:29:46.120 --> 0:29:47.959
<v Speaker 1>that's what happens. Did I hear Sean there? Sean? Are

0:29:47.960 --> 0:29:51.680
<v Speaker 1>you there? Oh? Welcome, welcome, Hey, nice to have you

0:29:51.720 --> 0:29:54.560
<v Speaker 1>back with us. UM. Before we get into kind of

0:29:54.600 --> 0:29:56.560
<v Speaker 1>your thoughts on the market and the trade, what do

0:29:56.600 --> 0:30:00.520
<v Speaker 1>you make you guys are also a zero commission trade platform.

0:30:00.560 --> 0:30:02.320
<v Speaker 1>What do you make of what has been going out

0:30:02.320 --> 0:30:06.480
<v Speaker 1>with these meme stocks, game Stop and the like. I mean,

0:30:06.480 --> 0:30:09.080
<v Speaker 1>it certainly is going to drive a lot of interest.

0:30:09.200 --> 0:30:11.560
<v Speaker 1>And there's those names are going to be a vault

0:30:11.680 --> 0:30:14.640
<v Speaker 1>as you started to see the trade get one side

0:30:14.880 --> 0:30:17.120
<v Speaker 1>and what you can attribute that to be it um

0:30:17.240 --> 0:30:22.280
<v Speaker 1>interest from from chat rooms on social media, or hedge funds,

0:30:22.280 --> 0:30:24.880
<v Speaker 1>short interest, whatever it might be. I mean, those names

0:30:24.920 --> 0:30:27.240
<v Speaker 1>are going to be a little bit more volatile, So

0:30:27.480 --> 0:30:29.160
<v Speaker 1>we just try and tell our clients to make sure

0:30:29.200 --> 0:30:32.400
<v Speaker 1>they understand the risk of what they're they're getting into

0:30:32.440 --> 0:30:35.080
<v Speaker 1>when they do decide to enter into these trades. Did

0:30:35.120 --> 0:30:37.200
<v Speaker 1>you see a lot of trading activity on your platform

0:30:37.240 --> 0:30:41.600
<v Speaker 1>as well? We saw we saw some elevated trading activity

0:30:41.680 --> 0:30:44.400
<v Speaker 1>last week, and it's typical of what we see UM

0:30:44.640 --> 0:30:47.080
<v Speaker 1>just in general in markets. When you start to see

0:30:47.280 --> 0:30:51.680
<v Speaker 1>volatility move higher, whether it be just the overall dixident

0:30:51.760 --> 0:30:54.760
<v Speaker 1>of itself or whether you see specific names start to

0:30:55.200 --> 0:30:58.120
<v Speaker 1>show elevated volatility, it does drive a lot of quiet interest.

0:30:58.160 --> 0:31:00.240
<v Speaker 1>And it's not just on the the what do you

0:31:00.280 --> 0:31:02.600
<v Speaker 1>trade in front, but also on the derivative trading front

0:31:02.640 --> 0:31:04.640
<v Speaker 1>as well. Are you at all concerned about the type

0:31:04.640 --> 0:31:10.240
<v Speaker 1>of interest that it drives? As long as we feel

0:31:10.240 --> 0:31:13.000
<v Speaker 1>comfortable with the overall risk of what's going on and

0:31:13.400 --> 0:31:15.880
<v Speaker 1>we feel that, you know, the clients are are able

0:31:15.920 --> 0:31:19.000
<v Speaker 1>to handle advantage that risk. Um. You know, that's something

0:31:19.040 --> 0:31:20.920
<v Speaker 1>that we keep an eye on and we certainly want

0:31:20.920 --> 0:31:23.040
<v Speaker 1>to enable clients to trade whatever it is that they

0:31:23.080 --> 0:31:26.640
<v Speaker 1>want to trade, but we do monitor these names, and

0:31:27.160 --> 0:31:29.240
<v Speaker 1>you know, I mean saying pretty much anything else across

0:31:29.240 --> 0:31:32.000
<v Speaker 1>our book. Our clients are trading, We do monitor that

0:31:32.120 --> 0:31:36.160
<v Speaker 1>on an ongoing basis, and that's continuous throughout the day. Right,

0:31:36.160 --> 0:31:38.040
<v Speaker 1>did you guys have to shut any trading down because

0:31:38.040 --> 0:31:41.480
<v Speaker 1>of these I'm just curious, Um, the last week you didn't.

0:31:41.680 --> 0:31:45.000
<v Speaker 1>You didn't shut down trading its clients wanted to come

0:31:45.040 --> 0:31:48.960
<v Speaker 1>in and buy or sell um these names, they certainly could.

0:31:49.040 --> 0:31:53.160
<v Speaker 1>We did um increase margin requirements, and we also limited

0:31:53.200 --> 0:31:56.840
<v Speaker 1>what was clients were able to do on the derivative

0:31:56.880 --> 0:32:00.800
<v Speaker 1>trading fronts. For instance, we weren't allowing the just selling

0:32:00.880 --> 0:32:04.840
<v Speaker 1>naked calls, for instance, in some of these highly volerful names,

0:32:04.840 --> 0:32:07.200
<v Speaker 1>and that's just because of the inherent risk that and

0:32:07.320 --> 0:32:09.400
<v Speaker 1>come with you are just short a call in the

0:32:09.480 --> 0:32:13.280
<v Speaker 1>stock makes uh what happened in some cases last week

0:32:13.280 --> 0:32:16.840
<v Speaker 1>a seven sigma move. And we also put a few

0:32:16.880 --> 0:32:20.760
<v Speaker 1>controls on what we were allowed in terms of spread

0:32:20.800 --> 0:32:23.760
<v Speaker 1>trading as well. Sean, I want to get your thoughts

0:32:23.800 --> 0:32:26.680
<v Speaker 1>on earnings that we saw this week Alphabet and Amazon

0:32:26.760 --> 0:32:30.240
<v Speaker 1>and wondering if that changes at strong earnings, of course,

0:32:30.280 --> 0:32:32.360
<v Speaker 1>I mean for for Amazon, it was its first year

0:32:32.480 --> 0:32:35.840
<v Speaker 1>that we saw a billion dollars a day revenue exceeded

0:32:35.880 --> 0:32:38.680
<v Speaker 1>that for the company. Um in then Alphabet also topping

0:32:38.920 --> 0:32:42.360
<v Speaker 1>expectations from from analysts. What are the signs that this

0:32:42.440 --> 0:32:45.320
<v Speaker 1>gives you about the economy and the recovery that we're seeing.

0:32:46.600 --> 0:32:50.120
<v Speaker 1>I think it was interesting in Amazon's relief one there

0:32:50.200 --> 0:32:52.240
<v Speaker 1>was I think a lot of in that Revie spell

0:32:52.280 --> 0:32:56.320
<v Speaker 1>in the shadow just days in Chairman, but it was

0:32:56.360 --> 0:32:58.440
<v Speaker 1>an incredibly strong report and I think there was a

0:32:58.440 --> 0:33:00.880
<v Speaker 1>few interesting things that takey one, the head of Amazon

0:33:00.960 --> 0:33:03.440
<v Speaker 1>Web Service, is stopping up in that your role, I

0:33:03.440 --> 0:33:06.160
<v Speaker 1>think gives a little bit of an indication of what

0:33:06.200 --> 0:33:09.040
<v Speaker 1>the business is going to focus on moving forward. Um

0:33:09.040 --> 0:33:12.400
<v Speaker 1>The other thing that was on the retail front actually said,

0:33:12.440 --> 0:33:14.920
<v Speaker 1>even as we moved into the recovery this year, they

0:33:14.960 --> 0:33:18.040
<v Speaker 1>still expect demand for e commerce to remain strong. And

0:33:18.080 --> 0:33:20.760
<v Speaker 1>I think that was something a lot of investors were

0:33:20.760 --> 0:33:23.120
<v Speaker 1>asking themselves, not just about Amazon, but a lot of

0:33:23.120 --> 0:33:25.600
<v Speaker 1>these names that thrived over the past year and had

0:33:25.640 --> 0:33:30.160
<v Speaker 1>some pretty strong upside move in some great returns. Was

0:33:30.200 --> 0:33:32.479
<v Speaker 1>whether or not that was all pulled forward and then

0:33:32.560 --> 0:33:35.360
<v Speaker 1>there's not going to be as strong growth where the

0:33:35.400 --> 0:33:37.760
<v Speaker 1>businesses is going to maybe fall off a little bit

0:33:38.080 --> 0:33:41.600
<v Speaker 1>um as we get into this more reopened return to

0:33:41.720 --> 0:33:44.080
<v Speaker 1>some sort of normalcy whatever that ends up looking like

0:33:44.400 --> 0:33:46.640
<v Speaker 1>what that would really mean for the businesses. And I

0:33:46.640 --> 0:33:50.160
<v Speaker 1>think they're able to reassure investors that they are still

0:33:50.200 --> 0:33:52.760
<v Speaker 1>expecting to demand to remain strong. And we saw that

0:33:52.880 --> 0:33:56.960
<v Speaker 1>not only maybe help sentiment around Amazon itself, but names

0:33:56.960 --> 0:34:00.640
<v Speaker 1>like Shopify, names like eBay also benefited from that because

0:34:00.640 --> 0:34:02.440
<v Speaker 1>they didn't just say it was going to be Amazon

0:34:02.440 --> 0:34:05.680
<v Speaker 1>and specific, they said there's an overall general trend. They

0:34:05.720 --> 0:34:09.040
<v Speaker 1>expect the commerce to remain strong this year. Hey, I'm curious.

0:34:09.040 --> 0:34:11.279
<v Speaker 1>We talked a little bit about the VICS yesterday. It's

0:34:11.320 --> 0:34:15.480
<v Speaker 1>definitely come down from the recent spike that we just saw,

0:34:16.480 --> 0:34:19.680
<v Speaker 1>certainly last week amid the volatility. How closely do you

0:34:19.680 --> 0:34:22.560
<v Speaker 1>watch the VICS as an indicator, and if so, what

0:34:22.680 --> 0:34:25.880
<v Speaker 1>is it telling you right now? So the VICS I

0:34:26.040 --> 0:34:29.360
<v Speaker 1>kind of view in sort of three three buckets, and

0:34:29.400 --> 0:34:34.000
<v Speaker 1>so when in the buckets that means there's some cautious

0:34:34.040 --> 0:34:37.040
<v Speaker 1>optionism out there, and that's where we're at right now

0:34:37.719 --> 0:34:41.600
<v Speaker 1>thirty is genuine uncertainty, and anytime you get north of thirty,

0:34:41.719 --> 0:34:45.800
<v Speaker 1>that is there is a caution tone. It's really setting

0:34:45.840 --> 0:34:48.359
<v Speaker 1>in across the market. And I think last week, when

0:34:48.400 --> 0:34:52.279
<v Speaker 1>you had a lot of volatively being driven in a

0:34:52.320 --> 0:34:56.879
<v Speaker 1>handful of names, the question for Marcuts wasn't his game

0:34:56.960 --> 0:35:00.480
<v Speaker 1>stop doing? Something's gonna gonna really cause this issue in

0:35:00.600 --> 0:35:03.680
<v Speaker 1>GameStop itself. The question of markets make sure was would

0:35:03.680 --> 0:35:06.239
<v Speaker 1>this turn into a systemic issue? And I think that's

0:35:06.239 --> 0:35:08.719
<v Speaker 1>what drove it higher. As we get further away and

0:35:08.760 --> 0:35:12.239
<v Speaker 1>we realize that we are returning sun center normalcy, this

0:35:12.320 --> 0:35:15.880
<v Speaker 1>isn't gonna become a systemic issue across the board for equities.

0:35:16.239 --> 0:35:19.640
<v Speaker 1>That that's what allowed the volatility index to really pull

0:35:19.719 --> 0:35:22.279
<v Speaker 1>back as much as it did. I expected as we

0:35:22.360 --> 0:35:24.359
<v Speaker 1>got further away from last week that we would see

0:35:24.360 --> 0:35:27.040
<v Speaker 1>the exposing lower, but I did not expect to get

0:35:27.080 --> 0:35:29.960
<v Speaker 1>down at twenty two. But I think that just shows

0:35:29.960 --> 0:35:32.560
<v Speaker 1>that the market is moving away from focusing on what

0:35:32.600 --> 0:35:35.200
<v Speaker 1>we saw last week and they're returning to focusing on

0:35:35.280 --> 0:35:38.960
<v Speaker 1>things that matter. Economic reports are coming out, we're getting

0:35:39.640 --> 0:35:42.319
<v Speaker 1>continue there's a lot of earnings reports out and those

0:35:42.320 --> 0:35:46.040
<v Speaker 1>are coming in UM as as as expected, in many

0:35:46.080 --> 0:35:49.000
<v Speaker 1>cases better, and I think that's really is what the

0:35:49.040 --> 0:35:53.240
<v Speaker 1>markets focused on, and they're coming more optimistic. And twenty

0:35:53.239 --> 0:35:56.680
<v Speaker 1>seconds tomorrow's jobs report, Um, what are you expecting? Looking

0:35:56.680 --> 0:36:00.320
<v Speaker 1>for twenty seconds? I actually think we're gonna see a

0:36:00.400 --> 0:36:02.279
<v Speaker 1>little bit of a pullback and wage growth. And that's

0:36:02.280 --> 0:36:04.200
<v Speaker 1>because in the A d Q report we stall that

0:36:04.440 --> 0:36:07.400
<v Speaker 1>services jobs and these are in hospitality, had a pretty

0:36:07.400 --> 0:36:10.279
<v Speaker 1>strong rebound, which is good overall, but that will sort

0:36:10.320 --> 0:36:12.879
<v Speaker 1>of drag that average wage number down because those tend

0:36:12.880 --> 0:36:15.520
<v Speaker 1>to be lower pain jobs. So that's I'm going to

0:36:15.560 --> 0:36:18.240
<v Speaker 1>be interested to see what happens with the wage growth number.

0:36:18.480 --> 0:36:20.160
<v Speaker 1>All right, We're gonna leave it on that note. Hey, Sean,

0:36:20.200 --> 0:36:22.440
<v Speaker 1>thank you so much. Sean Crew, Senior Market Strategies at

0:36:22.440 --> 0:36:26.600
<v Speaker 1>t D Merrige Trade with Us from Chicago. Thanks for

0:36:26.640 --> 0:36:30.400
<v Speaker 1>listening to Bloomberg Business Week. Download the podcast on iTunes, SoundCloud,

0:36:30.520 --> 0:36:32.680
<v Speaker 1>or Bloomberg dot com, and you can also listen to

0:36:32.680 --> 0:36:35.279
<v Speaker 1>our radio show at two pm Eastern on Bloomberg Radio

0:36:35.400 --> 0:36:38.160
<v Speaker 1>or watch us on YouTube. Sara to Bloomberg Global News