WEBVTT - Waze Co-Founder Sees a Resilient Israeli Tech Scene 0:00:01.360 --> 0:00:05.680 This is Bloomberg Business Wait inside from the reporters and 0:00:05.880 --> 0:00:09.440 editors who bring you America's most trusted business magazine, plus 0:00:09.520 --> 0:00:13.680 global business finance and tech news. The Bloomberg Business Week 0:00:13.720 --> 0:00:25.280 Podcast with Carol Messer and Tim Stenebeck from Bloomberg Radio. 0:00:21.560 --> 0:00:29.200 All Right, everybody, to say that a lot has happened 0:00:29.240 --> 0:00:31.280 since we last checked in with our next guest would 0:00:31.280 --> 0:00:33.840 be an understatement. 0:00:34.479 --> 0:00:35.040 Big time. 0:00:35.600 --> 0:00:38.239 Or Levine last joined us earlier this year, before the 0:00:38.240 --> 0:00:40.960 October seventh Hamas attack on Israel. Or as you know, 0:00:42.040 --> 0:00:45.680 Many is the co founder, of course, of the navigation 0:00:45.720 --> 0:00:47.880 app Ways, which Google bought for more than one point 0:00:47.920 --> 0:00:50.720 one billion dollars. Who's also an investor in move It, 0:00:50.760 --> 0:00:53.280 which then Tim Intel bought for a billion dollars. 0:00:53.400 --> 0:00:55.240 Well I spoke to him because of his new book, 0:00:55.280 --> 0:00:57.120 fall in Love with the Problem, Not the Solution, a 0:00:57.200 --> 0:01:00.840 handbook for entrepreneurs. It details his journey and also his 0:01:01.000 --> 0:01:04.720 unique philosophy on what it takes to be a successful innovator. 0:01:04.760 --> 0:01:07.640 He's a graduate from the Tel Aviv University and served 0:01:07.640 --> 0:01:10.760 in the Israeli Army Special Intelligence Unit. He started both 0:01:10.760 --> 0:01:13.080 Ways and moved companies in Israel, which of course is 0:01:13.120 --> 0:01:15.760 currently at war with Hamas in the Gaza strip or 0:01:15.840 --> 0:01:18.440 good to have you back here in the Bloomberg Interactive 0:01:18.440 --> 0:01:21.600 Brokers studio. How are you doing? 0:01:23.720 --> 0:01:29.120 You know, it's complicated, right, because it's never going to 0:01:29.120 --> 0:01:30.920 be the same. It's never going to be the same. 0:01:31.000 --> 0:01:34.600 That was a devastating attack. That was you know, my 0:01:34.720 --> 0:01:37.320 kids are the age between twenty two and thirty three. 0:01:37.640 --> 0:01:41.000 They could have been at this party, and there were 0:01:41.120 --> 0:01:44.280 many days that that was my main thought of the day, 0:01:44.319 --> 0:01:48.240 that I'm lucky that they weren't. That was devastating. And 0:01:48.320 --> 0:01:49.600 I think that at the end of the day, if 0:01:49.640 --> 0:01:52.920 you look into the future or you realize that they 0:01:53.000 --> 0:01:55.560 might be a solution, but without Hamas being. 0:01:55.400 --> 0:01:59.560 There, Well that's what we think about. We talk a 0:01:59.600 --> 0:02:03.200 lot about the way forward. I've talked to people I 0:02:03.200 --> 0:02:05.680 feel like on both sides, and when I say sides, 0:02:05.680 --> 0:02:08.000 I don't mean on Hamas's side, but I mean on 0:02:08.080 --> 0:02:11.720 the Palestinian point of view, the Israeli point of view, 0:02:11.760 --> 0:02:14.080 about how do we go forward? How do we stop 0:02:14.200 --> 0:02:16.919 that we don't find five years from now, ten years 0:02:16.919 --> 0:02:20.280 we're still talking about conflict in that region. How do 0:02:20.360 --> 0:02:21.320 you think about that? 0:02:22.680 --> 0:02:24.280 So look at the end of the day, if you 0:02:24.360 --> 0:02:27.000 think about the Palestinians and Gaza strip and you ask 0:02:27.040 --> 0:02:29.639 yourself whether or not Tramas was doing any good for them. 0:02:29.760 --> 0:02:33.200 Not really, they were doing very good for themselves, but 0:02:33.280 --> 0:02:37.320 not for the people. And look, Israel left the Gaza 0:02:37.360 --> 0:02:41.280 Striep some seventeen eighteen years ago. There was an opportunity 0:02:41.280 --> 0:02:44.960 to build awesome ness there and Ramas to go over. 0:02:45.120 --> 0:02:48.320 And basically this is a terrorist organization, right They're only 0:02:48.360 --> 0:02:52.560 agenda that they have is to kill us, and that 0:02:52.639 --> 0:02:55.800 doesn't work. We guess what we don't want to be 0:02:56.000 --> 0:02:56.639 to get killed? 0:02:57.760 --> 0:03:00.480 Can I ask you? And I feel like this is 0:03:00.520 --> 0:03:03.280 such a difficult conversation. We've had a lot of times 0:03:03.320 --> 0:03:05.000 in the newsroom. Tim and I've talked a lot of 0:03:05.000 --> 0:03:09.160 times after a show or after a guest. You know 0:03:09.200 --> 0:03:13.200 this concept. I get it of having to fight back, 0:03:13.919 --> 0:03:18.120 but this concept of killing and then more killing, and 0:03:18.280 --> 0:03:20.600 it's just like where does it stop or how does 0:03:20.639 --> 0:03:24.400 it stop? And how do you justify that on both sides? 0:03:24.840 --> 0:03:25.680 I understand. 0:03:25.840 --> 0:03:30.799 I So, number one, you know, I'm not the Prime minister. 0:03:30.960 --> 0:03:33.320 It's not for me that needs to make those decisions. 0:03:33.400 --> 0:03:35.040 But at the end of the day, if you realize 0:03:35.040 --> 0:03:40.040 that if Ramas is being removed from the region, then 0:03:40.080 --> 0:03:43.560 there are opportunities for something else completely different, right, because 0:03:43.600 --> 0:03:47.600 at the end of the day, most people prefair leaving 0:03:47.680 --> 0:03:50.320 over dying, right, And most of the people in the 0:03:50.320 --> 0:03:54.000 Gaza Strip it's the same for them. The challenge is 0:03:54.040 --> 0:03:56.880 that the leadership of the Haramas is the one that 0:03:57.000 --> 0:04:00.240 is basically enjoying the killing on one hand and the 0:04:00.360 --> 0:04:04.240 power in particular that they have. And I think that 0:04:04.320 --> 0:04:07.440 once they are being removed, there is an opportunity and 0:04:07.520 --> 0:04:10.400 I see major role of the US, major role of 0:04:10.680 --> 0:04:15.280 Saudi Arabia helping to recreate something new in the Middle East. 0:04:15.400 --> 0:04:18.279 Well, talk a little bit about that, because that's a 0:04:18.320 --> 0:04:21.080 part of the equation that I'm having trouble seeing here 0:04:21.200 --> 0:04:24.400 the solution and what actually happens. And it sounds like 0:04:24.440 --> 0:04:27.000 you think Hamas can be removed from power. So let's 0:04:27.000 --> 0:04:29.880 say Hamas is successfully removed from power in the Gaza Strip, 0:04:31.839 --> 0:04:33.039 what would you like to see happened? 0:04:34.120 --> 0:04:37.880 So again we have to realize that what I would 0:04:37.920 --> 0:04:40.960 like to see has I have zero influence on that, 0:04:41.120 --> 0:04:43.640 or maybe a little bit of influence, but that's about it. 0:04:44.000 --> 0:04:46.400 But I think that the opportunity here is that really 0:04:46.640 --> 0:04:49.440 recreating something new with the support of the American with 0:04:49.520 --> 0:04:53.800 the support of the Saudis, and basically establishing sort of 0:04:55.680 --> 0:04:58.640 normalizations in the relationship. Right now, if you look at 0:04:58.640 --> 0:05:03.640 the history of Israel, every time there was a major crisis, 0:05:03.760 --> 0:05:06.279 two things happened. Number one as well grew up stronger. 0:05:06.839 --> 0:05:09.840 Number two, we actually figure out a way, a different way, right. 0:05:10.000 --> 0:05:13.800 That's true for the Yong Kipoor War back in the 0:05:13.839 --> 0:05:16.560 seventy three, and after that we had a piece with Egypt, right, 0:05:17.000 --> 0:05:20.240 And that's true for World War Two where the Holocaust happened, 0:05:20.240 --> 0:05:23.000 and after that there was a Jewish statement. And so 0:05:23.040 --> 0:05:25.000 at the end of the day, I think that October 0:05:25.040 --> 0:05:29.520 seventh is such a major crisis that it will lead 0:05:29.640 --> 0:05:34.560 into something else, and you know, hopefully as soon as possible. Right, 0:05:34.640 --> 0:05:36.400 But when is that going to happen? 0:05:36.560 --> 0:05:38.839 We don't know, do you believe? 0:05:39.080 --> 0:05:43.520 I mean, you work with individuals in Palestine or in 0:05:43.600 --> 0:05:44.880 the Strip, in. 0:05:44.920 --> 0:05:49.640 God Strip, not specifically, but with you know, otter nations 0:05:49.640 --> 0:05:50.159 in the region. 0:05:50.240 --> 0:05:54.040 Yes, What I guess what I'm curious about is why 0:05:54.120 --> 0:05:55.760 we haven't been able to figure out a two state 0:05:55.880 --> 0:05:57.080 solution up to this point. 0:05:59.520 --> 0:06:02.440 I would say that you have to ask the leadership 0:06:02.480 --> 0:06:04.480 that I think that at the end of the day. 0:06:04.440 --> 0:06:08.120 But is that a solution? You're smart man, you actually 0:06:08.160 --> 0:06:09.200 think out of the box. 0:06:10.360 --> 0:06:14.320 Obviously it is right at the end of the day. Well, 0:06:16.760 --> 0:06:21.960 Hamas really created severe porn poor people in the Gaza 0:06:22.000 --> 0:06:24.160 strip right now, when you are poor and you have 0:06:24.200 --> 0:06:27.159 no hope, you have nothing to lose, right if you 0:06:27.240 --> 0:06:31.200 create something else, If people have something to lose, then 0:06:31.360 --> 0:06:35.039 they would prefer peace over war time after time in 0:06:35.080 --> 0:06:38.120 the history. When people have something to lose, then they 0:06:38.160 --> 0:06:42.080 actually prefer the stability rather than the instability. And in 0:06:42.120 --> 0:06:45.200 many cases this is you know, the craziness of the 0:06:45.279 --> 0:06:49.279 leadership that leads into acts of war. Right, so we 0:06:49.320 --> 0:06:52.039 can see the same thing with Russia and Ukraine, and 0:06:52.080 --> 0:06:56.719 we have seen that throughout many cases in Europe, in 0:06:56.760 --> 0:06:58.480 the Middle East, in other places. 0:06:58.720 --> 0:07:00.320 So what do you think of when people will say 0:07:00.320 --> 0:07:01.960 you talk about Russian and Ukraine and tim and I. 0:07:02.040 --> 0:07:04.240 You know, we've had a lot of discussions with individuals 0:07:04.320 --> 0:07:06.919 this idea that we are so opposed to the Russian 0:07:06.920 --> 0:07:09.960 occupation of Ukraine, and then people say, well, why aren't 0:07:09.960 --> 0:07:15.280 you similarly upset about the Israel Israeli occupation of Gaza. 0:07:16.880 --> 0:07:19.920 Israelis not occupying Gaza, and Gazza is a free place 0:07:20.040 --> 0:07:23.800 for the last Israel withdrawn from Gaza strip some seventeen 0:07:23.840 --> 0:07:24.800 or eighteen years ago. 0:07:25.520 --> 0:07:28.600 We are not occupying Gaza. Kamasi is occupying Gaza. 0:07:29.760 --> 0:07:32.560 What would you say is the prevailing view within your 0:07:32.640 --> 0:07:38.320 social circle about the way this ends? 0:07:38.360 --> 0:07:39.520 Sorry? Can you repeople? 0:07:39.560 --> 0:07:43.320 Yeah, what's the conversation that you're having with your fellow entrepreneurs, 0:07:43.440 --> 0:07:46.000 with your friends, with your family right now about the 0:07:46.040 --> 0:07:46.800 way this ends? 0:07:48.240 --> 0:07:54.440 So, in general, I would say tough time creates stronger people. 0:07:54.600 --> 0:07:57.880 Stronger people then creates better times, right than ISRAELI is 0:07:57.920 --> 0:08:00.920 in under tough time right now. Entrepreneurs are going to 0:08:00.920 --> 0:08:02.760 be the first one to recover and they will be 0:08:02.880 --> 0:08:07.760 recovering strongly and better after that, because what happened during 0:08:07.840 --> 0:08:12.720 war is that the forget all the horror things that happens. 0:08:12.360 --> 0:08:15.080 In the war. After the war, people are way. 0:08:14.880 --> 0:08:18.120 Stronger and they realize that there is a defense choice 0:08:18.120 --> 0:08:23.160 for them, which is leaving, and they realize that now 0:08:23.280 --> 0:08:25.640 if they survive, that they can survive anything. 0:08:25.800 --> 0:08:27.960 We're pleased to add back with us Ory Levine to 0:08:27.960 --> 0:08:30.760 continue our conversation as many of you know. He's the 0:08:30.760 --> 0:08:33.040 co founder of the navigation app Ways. Google bought it 0:08:33.080 --> 0:08:35.439 for more than at one point one billion dollars more 0:08:35.440 --> 0:08:37.600 than a decade ago at this point, also an investor 0:08:37.640 --> 0:08:39.559 and move It, which Intel bought for a billion dollars. 0:08:39.600 --> 0:08:42.440 We're going to get to how he's thinking about startups 0:08:42.520 --> 0:08:45.880 right now, especially in Israel where he built these two companies, 0:08:45.880 --> 0:08:47.360 in just a second. But I do want to continue 0:08:47.400 --> 0:08:51.120 the conversation that we're having earlier about the environment there. 0:08:51.360 --> 0:08:54.040 Right now, in the wake of the October seventh attack 0:08:54.480 --> 0:08:58.959 from Hamas, I want to talk economy a little bit 0:08:59.160 --> 0:09:05.160 because I don't think people understand that when people get 0:09:05.160 --> 0:09:09.240 called back to the military, they leave their jobs to 0:09:09.360 --> 0:09:13.840 go back to the Israeli military. So there's a whole 0:09:13.880 --> 0:09:17.520 element of the Israeli economy that's not working the way 0:09:17.520 --> 0:09:19.400 that it should right now. 0:09:20.120 --> 0:09:20.959 Are you seeing the. 0:09:20.920 --> 0:09:23.640 Effects of that day to day that there is a 0:09:23.640 --> 0:09:25.880 shortage of workers, that there are a lot of people 0:09:25.880 --> 0:09:28.600 who I mean, I have friends on Facebook who've posted 0:09:28.920 --> 0:09:32.640 Israelis who've said, you know, my husband is away fighting 0:09:32.720 --> 0:09:35.640 right now because he got called back. She's a tour 0:09:35.760 --> 0:09:39.040 operator who does restaurant tours, for tourists. There's no tourists 0:09:39.080 --> 0:09:42.160 there right now, so she literally they literally have no 0:09:42.240 --> 0:09:44.120 income coming in right now as a result of this. 0:09:47.040 --> 0:09:50.880 So not exactly, because when you're doing your military or reserve, 0:09:50.960 --> 0:09:54.880 you do get from the Social security the same pay 0:09:54.960 --> 0:09:58.559 at you what gotlin if you were working. But if 0:09:58.559 --> 0:10:01.040 you look at the impact of them war on the economy, 0:10:01.160 --> 0:10:05.840 then I would say, for a second, obviously budget for 0:10:06.120 --> 0:10:09.480 security and is going to go up dramatic. Then that's 0:10:09.520 --> 0:10:15.080 we all realize the war costs money some markets, some 0:10:15.320 --> 0:10:19.640 industries are completely suffering from that, right like tourism right 0:10:19.679 --> 0:10:22.000 there is there there are no tourists going to Israel, 0:10:22.120 --> 0:10:25.960 right And I don't blame them, right they shouldn't. It's 0:10:26.040 --> 0:10:28.720 there is a war there and they don't feel safe. 0:10:28.720 --> 0:10:29.199 And that's all. 0:10:30.400 --> 0:10:33.320 High tech industry is actually getting stronger because what we 0:10:33.360 --> 0:10:35.839 are realizing is that the people that are still there, 0:10:36.280 --> 0:10:40.800 they are carrying the load for all the people that 0:10:40.840 --> 0:10:43.439 are going on the military or reserve and so forth. 0:10:43.480 --> 0:10:47.920 And what we have seen is that the productivity increased dramatically. 0:10:48.880 --> 0:10:51.080 And when people that will be coming back from the 0:10:51.120 --> 0:10:54.640 military reserve, then we are likely to see. 0:10:55.559 --> 0:10:57.199 Huge growth in the high tech. 0:10:57.280 --> 0:11:00.000 In general, the challenge right now for the high time, 0:11:00.080 --> 0:11:02.760 the Israeli high tech, that it's harder to raise capital, right, 0:11:02.840 --> 0:11:04.959 so most of the investors will prefer to be. 0:11:05.480 --> 0:11:06.120 On the fence. 0:11:06.160 --> 0:11:09.200 And and you know, way to see that the war 0:11:09.280 --> 0:11:13.680 is over, right, investing in a war zone people afraid, 0:11:13.720 --> 0:11:14.720 and they rightly. 0:11:14.800 --> 0:11:17.400 So that's interesting to hear because you've also got a 0:11:17.400 --> 0:11:20.040 group of very vocal Americans who are happy to give 0:11:20.120 --> 0:11:22.160 to Israeli causes. And I would think that some of 0:11:22.200 --> 0:11:25.960 those would be supportive of a venture capital. Of course, 0:11:25.960 --> 0:11:28.800 they in the country, they to kind of help prop 0:11:28.840 --> 0:11:30.280 it up the time. 0:11:30.200 --> 0:11:31.400 They do, and they will. 0:11:32.080 --> 0:11:35.120 But in general, if you look at the you know, 0:11:35.280 --> 0:11:39.640 non Jewish investors or non engaged investors, then they have 0:11:40.120 --> 0:11:42.000 more challenging time, not all of. 0:11:41.920 --> 0:11:42.640 Them, but a lot. 0:11:43.000 --> 0:11:45.480 Or is there anything you've put on hold because that's 0:11:45.520 --> 0:11:47.240 home base for you, correct Israel? 0:11:48.080 --> 0:11:51.840 Or so why you know I keep on building. Look, 0:11:51.920 --> 0:11:55.120 I have a very simple life. I have a mission, 0:11:55.160 --> 0:11:57.760 I have a destiny, I have a purpose and this 0:11:57.880 --> 0:12:00.360 is about value creation, right, and then I can create 0:12:00.480 --> 0:12:03.840 value through multiple ways, through you know, building startups that 0:12:03.920 --> 0:12:09.320 help people, through you know, coaching and mentoring, a group 0:12:09.400 --> 0:12:14.079 of CEOs that of my startups through teaching and through 0:12:14.400 --> 0:12:17.720 you know, the ultimate way of teaching is the book itself. 0:12:17.760 --> 0:12:20.959 They're falling up with the problem, not the solution. Book 0:12:21.120 --> 0:12:23.719 is by and large it This is sharing my know 0:12:23.840 --> 0:12:27.000 how with people and hopefully make them more successful. 0:12:27.600 --> 0:12:29.960 What's the problem that you see right now that needs 0:12:30.000 --> 0:12:31.400 to be working. 0:12:33.720 --> 0:12:34.720 Exactly? Take a pick. 0:12:35.160 --> 0:12:37.000 So the good news is that there are a lot 0:12:37.040 --> 0:12:39.079 of problems. The bad news is that there are a 0:12:39.120 --> 0:12:40.880 lot of problems right end of the day, there are 0:12:40.880 --> 0:12:43.960 a lot of problems. One of the you know, major 0:12:44.040 --> 0:12:46.640 problems that we are addressing recently is actually in the 0:12:46.760 --> 0:12:50.600 US the realization that most people will not have enough 0:12:50.800 --> 0:12:54.720 saving for retirement. And so Pontera is one of the 0:12:54.720 --> 0:12:57.760 companies that is helping that in the US help people 0:12:57.800 --> 0:13:03.520 to eventually retire richer. And so this is and this 0:13:03.600 --> 0:13:05.200 is a big problem at the end of the day 0:13:05.600 --> 0:13:07.920 when people get old and they don't have enough money. 0:13:07.960 --> 0:13:10.840 This is a big problem. So this is one of 0:13:10.880 --> 0:13:13.360 the things that I'm trying to do with my startups. 0:13:14.840 --> 0:13:19.920 And you know, dealing with parking. Parking is a major 0:13:19.960 --> 0:13:22.240 problem right now in generally you would say wait a minute, 0:13:22.280 --> 0:13:24.960 in the US, it's less of a problem because most 0:13:24.960 --> 0:13:27.160 people live in a single family house and they have 0:13:27.200 --> 0:13:29.720 a driveway and they have parking garage. But the rest 0:13:29.760 --> 0:13:33.640 of the world, most people live in multi family houses, 0:13:33.760 --> 0:13:37.800 multi story houses, and they don't have parking garage, and 0:13:37.840 --> 0:13:39.720 then looking for parking at the end of the day, 0:13:39.760 --> 0:13:42.640 it's a nightmare. And this is you know, my most 0:13:42.720 --> 0:13:45.520 recent startup that we started that a couple of years 0:13:45.559 --> 0:13:51.000 ago and and it's staling is well and hopefully it 0:13:51.040 --> 0:13:54.120 will grow to address that because parking. 0:13:53.880 --> 0:13:56.160 Is a major problem. Yeah, we could use that in Brooklyn, 0:13:56.800 --> 0:13:58.760 I know. Okay, Well, is something. 0:13:58.480 --> 0:14:00.600 I wonder, you know, when I think about so much. 0:14:00.640 --> 0:14:03.400 This year, we've talked about artificial intelligence and generative AI, 0:14:04.280 --> 0:14:06.679 and some are concerned that it's going to take jobs 0:14:06.679 --> 0:14:09.200 away from people. I see it more as complementary. But 0:14:09.760 --> 0:14:12.920 having said that, I do think about job creation in 0:14:12.960 --> 0:14:17.520 the future because economies, whether it's the Gaza strip, if 0:14:17.520 --> 0:14:19.960 people have a way to make a living and build 0:14:20.000 --> 0:14:23.960 a much more productive life, or whether it's in Israel 0:14:24.080 --> 0:14:28.080 or whether it's in other developing markets, if you can 0:14:28.160 --> 0:14:32.120 create a better life for yourself, it's just a better, 0:14:32.200 --> 0:14:35.200 more peaceful place, right even create an economy. So are 0:14:35.240 --> 0:14:38.040 there I don't know. Are we moving increasingly towards a 0:14:38.080 --> 0:14:42.640 world though, where technology is replacing jobs at a faster 0:14:42.800 --> 0:14:46.840 pace than we can make them Unless you're coder, you know. 0:14:46.920 --> 0:14:49.560 I think that I hear that for the last fifty years. 0:14:49.640 --> 0:14:50.000 Right, So. 0:14:51.600 --> 0:14:55.680 Even if you think of the revolution of agriculture, that 0:14:55.720 --> 0:14:58.880 we started to have tractors and combine the defferent machinery, 0:14:59.120 --> 0:15:01.200 and everyone say it, oh, this is going to take 0:15:01.200 --> 0:15:04.440 away the work of the farmers, and guess what, it didn't. 0:15:04.840 --> 0:15:08.160 So every time that there is an innovation, we tell ourselves, oh, 0:15:08.240 --> 0:15:10.560 this is going to take away all the jobs, and 0:15:10.560 --> 0:15:14.040 then you look at the unemployment rate and it doesn't change, 0:15:14.160 --> 0:15:17.320 or maybe it's becoming better, because what happened is that 0:15:17.320 --> 0:15:21.560 that technology by and large increased productivity. And when it 0:15:21.720 --> 0:15:24.520 increased productivity, then we can create more. And when we 0:15:24.640 --> 0:15:28.240 create more, then more people actually have a better life. 0:15:29.120 --> 0:15:31.480 So not worried about AI in the end of. 0:15:31.520 --> 0:15:33.320 Us all, not at all. 0:15:33.440 --> 0:15:35.920 What I think that we might find out that there 0:15:35.920 --> 0:15:39.360 are some areas that we will need to establish regulation. 0:15:39.840 --> 0:15:44.840 So if I'm speaking with a person, then that's one thing. 0:15:44.920 --> 0:15:47.040 But if I don't know that I'm speaking to a 0:15:47.080 --> 0:15:49.440 machine might be a different thing. So maybe the machine 0:15:49.480 --> 0:15:52.040 will need to identify itself and tells me I'm a 0:15:52.040 --> 0:15:56.400 machine and clear about it. And this is something that 0:15:56.480 --> 0:15:58.520 I think that eventually we will need to have. 0:15:58.960 --> 0:16:02.600 Do you think that AI is close, as Elon Musk 0:16:02.640 --> 0:16:07.640 believes two becoming smarter than humans? 0:16:09.200 --> 0:16:10.080 Wow, that's a big thing. 0:16:10.400 --> 0:16:12.360 No, No, I think that we hear that for the 0:16:12.400 --> 0:16:14.760 last fifty years or computers are going to be smarter 0:16:14.880 --> 0:16:16.800 than people. Oh, we don't need people, We don't need 0:16:16.800 --> 0:16:20.160 the human brain. The human brain something that video fifty 0:16:20.200 --> 0:16:23.800 years ago, right, But then you know, end of the day, 0:16:23.840 --> 0:16:28.680 I think that the creativity and the adaptability is something 0:16:28.840 --> 0:16:31.600 that only humans would have and at the end of 0:16:31.640 --> 0:16:35.480 the day, that part is not going to be taking away. Now, 0:16:35.480 --> 0:16:38.960 whether or not you can scan way more information in 0:16:38.960 --> 0:16:41.640 a fraction of the sick and absolutely yes, Whether or 0:16:41.680 --> 0:16:44.680 not you can process some of the things way faster, yes, 0:16:45.400 --> 0:16:48.720 but not the same order of magnitude what the human 0:16:48.760 --> 0:16:49.360 mind can do. 0:16:50.200 --> 0:16:53.600 Thirty seconds left. We've talked about a lot, and obviously 0:16:53.600 --> 0:16:56.280 it's a very stressful world right now. Final thoughts that 0:16:56.320 --> 0:16:59.000 you want to leave our audience as we get ready 0:16:59.040 --> 0:16:59.680 for a new year. 0:17:01.320 --> 0:17:05.199 So I think that in just about thirty seconds. 0:17:05.280 --> 0:17:05.680 Sorry. 0:17:06.000 --> 0:17:09.399 Value creation, right, value creation when you create value and 0:17:09.400 --> 0:17:11.800 evaluate the way you create for otters, not for yourself. 0:17:12.200 --> 0:17:14.359 If we think about value creation, then we end up 0:17:14.400 --> 0:17:16.080 with a purpose to a life. And when we end 0:17:16.160 --> 0:17:17.720 up with a purpose to a life, we're going to 0:17:17.760 --> 0:17:21.679 be happier and leave wrong here and the war is 0:17:21.720 --> 0:17:22.760 going to be a better place. 0:17:23.800 --> 0:17:26.800 Thank you so much, thank happy new year. To the 0:17:26.840 --> 0:17:30.400 new year is a calmer one, more peaceful one. 0:17:30.160 --> 0:17:31.720 And better one way it will be. 0:17:31.680 --> 0:17:35.240 Okay or OLIVI, thank you so much. Always appreciate it. 0:17:35.240 --> 0:17:37.639 Con founder of Ways and so much more. As we 0:17:37.680 --> 0:17:39.400 talk about we've talked about his book fall in Love 0:17:39.400 --> 0:17:41.639 with the Problem, not the Solution of handbook for entrepreneurs. 0:17:41.680 --> 0:17:43.280 He has it on his T shirt. For those who 0:17:43.280 --> 0:17:44.160 are watching. 0:17:45.160 --> 0:17:48.719 You're listening to the Bloomberg Business Week podcast. Catch us 0:17:48.760 --> 0:17:52.119 live weekday afternoons from three to six Eastern Listen on 0:17:52.160 --> 0:17:56.200 Bloomberg dot com, the iHeartRadio app and the Bloomberg Business app, 0:17:56.480 --> 0:17:58.760 or watch us live on YouTube. 0:18:00.000 --> 0:18:01.040 I mean to the moon. 0:18:02.800 --> 0:18:05.960 Let me play up there with those stars. 0:18:09.160 --> 0:18:12.240 Blue eyes, you know what we're talking about. Space in 0:18:12.280 --> 0:18:12.600 the Moon. 0:18:13.040 --> 0:18:16.359 I do because it's the next frontier. 0:18:16.560 --> 0:18:18.000 For drug manufacturing. 0:18:18.080 --> 0:18:22.520 Yeah, it's really interesting. This story is in the forthcoming 0:18:22.560 --> 0:18:24.800 issue of Bloomberg BusinessWeek magazine. I want to read a 0:18:24.800 --> 0:18:27.600 little bit from it because it's so good. Red Night 0:18:27.640 --> 0:18:30.680 is pigmentosa is a genetic cause of blindness. Some people 0:18:30.680 --> 0:18:33.359 know it as RP. There's no cure or treatment for 0:18:33.440 --> 0:18:36.560 it right now, but there's a startup that's working on it, 0:18:37.119 --> 0:18:39.119 and it has big plans to develop the world's first 0:18:39.200 --> 0:18:44.280 protein based artificial retina, which could help patients who have RP. 0:18:44.720 --> 0:18:48.520 Here's the thing. Manufacturing the retina involves depositing two hundred 0:18:48.680 --> 0:18:51.439 paper thin layers of a light sensitive protein in a 0:18:51.480 --> 0:18:56.000 polymer mesh. Sounds pretty difficult, right, Yeah, Well, it turns 0:18:56.000 --> 0:18:58.200 out the protein layers must be perfectly even for the 0:18:58.240 --> 0:19:01.480 retina to work properly, and that's really difficult to do 0:19:02.040 --> 0:19:02.960 here on planet Earth. 0:19:03.359 --> 0:19:06.399 Right, So the company has turned to the International Space 0:19:06.440 --> 0:19:09.639 Station in the hopes that micro gravity there could help. 0:19:10.160 --> 0:19:14.359 Incredible story. Robert Langreth is healthcare reporter for Bloomberg News, 0:19:14.680 --> 0:19:16.760 and in the forthcoming issue of Bloomberg Business Week, he 0:19:16.800 --> 0:19:19.359 writes about drug companies that are exploring making the most 0:19:19.440 --> 0:19:22.359 lucrative drugs in space. You can read his story now 0:19:22.400 --> 0:19:24.880 on the Bloomberg and at bloomberg dot com Slash business Week. 0:19:24.880 --> 0:19:27.400 Also here with us the editor of Bloomberg BusinessWeek, Jill 0:19:27.400 --> 0:19:30.200 Weber here in our Bloomberg Interactive Broker studio. Tim and 0:19:30.240 --> 0:19:31.720 I read this and we're like, Bob gets to do 0:19:31.840 --> 0:19:33.000 the coolest stories. 0:19:33.760 --> 0:19:34.760 It's always one of those studies. 0:19:34.800 --> 0:19:35.720 We're like, oh my god. 0:19:35.760 --> 0:19:37.119 Although Joel, I don't think he got to go on 0:19:37.160 --> 0:19:38.280 the ISS to do this. 0:19:38.359 --> 0:19:42.480 I mean, you know, it's kind of in a precarious situation, 0:19:42.680 --> 0:19:47.080 this thing with the US and Russia. Anyway, the just 0:19:47.119 --> 0:19:51.000 go to I could send him there bomb you heard 0:19:51.040 --> 0:19:53.360 it from these guys, you have permission so to ask 0:19:53.400 --> 0:19:57.880 at least. So we're started to do a little space package. 0:19:58.280 --> 0:20:00.439 There's a lot happening up there, it turns out, and 0:20:00.480 --> 0:20:03.320 there are some expected things like what SpaceX is up 0:20:03.320 --> 0:20:05.440 to you and the race to catch them, but there's 0:20:05.480 --> 0:20:09.440 also I thought some more interesting things of like applications 0:20:09.480 --> 0:20:12.160 that you've probably never heard of. And it turns out 0:20:12.200 --> 0:20:15.600 that you know, you mentioned micro gravity. There there are 0:20:15.960 --> 0:20:20.000 some novel use cases for what can be accomplished in space. 0:20:20.040 --> 0:20:22.600 So so Bob walk us through it. What is uh, 0:20:22.680 --> 0:20:24.760 what can we do in space that we can't do 0:20:24.840 --> 0:20:26.119 as well here on Earth. 0:20:27.400 --> 0:20:29.200 Yeah, So it turns out, you know, a lot of 0:20:29.240 --> 0:20:32.560 the drugs that drug makers are making these days are 0:20:32.640 --> 0:20:35.760 proteins or things like monocle and antibiodies or cancer drugs, 0:20:35.760 --> 0:20:38.720 and these are that are that are infused. And these 0:20:38.760 --> 0:20:42.399 are you know, complicated, finicky molecules and notoriously difficult to 0:20:42.440 --> 0:20:45.359 produce on Earth in their crystal form. So it turns 0:20:45.359 --> 0:20:47.560 out that without gravity, or without much gravity, you know, 0:20:47.920 --> 0:20:51.240 it becomes much it's much easier to form like a large, 0:20:53.000 --> 0:20:55.879 large and very uniform crystals. And that is it turns out, 0:20:55.920 --> 0:21:00.800 can enhance formulations and even potentially some existing drugs. So 0:21:01.040 --> 0:21:04.160 drug maker merk it's working. It's worked on a new 0:21:04.200 --> 0:21:08.000 formulation of it's just blockbuster cancer drug k Truda. Now 0:21:08.000 --> 0:21:09.960