WEBVTT - Yates on New Covid-19 Strain 0:00:00.240 --> 0:00:03.280 This is Bloomberg Business Week. I'm Carol Masser. Every day 0:00:03.279 --> 0:00:05.200 we're bringing you the latest news from the world's of 0:00:05.200 --> 0:00:08.920 business and finance, plus technology, politics. So much going on 0:00:08.960 --> 0:00:12.160 in the world of politics, economics, and it's all harnessing 0:00:12.160 --> 0:00:14.840 the power of Business Week reporters and editors. If you 0:00:14.840 --> 0:00:18.280 can download Bloomberg Business Week on iTunes, SoundCloud, or Bloomberg 0:00:18.320 --> 0:00:20.480 dot com. If you can also listen to our radio 0:00:20.560 --> 0:00:23.439 show at two pm Eastern on Bloomberg Radio and be 0:00:23.440 --> 0:00:26.320 sure to watch us too on YouTube by searching Bloomberg 0:00:26.360 --> 0:00:29.320 Global News. So let's get to it, because a lot 0:00:29.360 --> 0:00:32.120 of virus headlines once again to go over, and that 0:00:32.159 --> 0:00:35.159 includes we've got fiser and by in Tech raising their 0:00:35.720 --> 0:00:38.920 production target for the vaccine to about two billion shots. 0:00:38.920 --> 0:00:41.680 Their previous production was one point three billion. You have 0:00:41.720 --> 0:00:44.040 New York City Mayor build A. Blasio reaffirming his goal 0:00:44.040 --> 0:00:46.760 of dolling out a million COVID nineteen doses by the 0:00:46.840 --> 0:00:49.400 end of January. Does I feel like a lot to you? Um? 0:00:49.440 --> 0:00:51.080 It does feel like a lot to me. Just feel 0:00:51.080 --> 0:00:53.280 like if right, yeah, yeah, by the end of January. 0:00:53.320 --> 0:00:54.800 If you think about it, we know you know, this 0:00:54.960 --> 0:00:57.480 is a city of nine million people, so it's not 0:00:57.520 --> 0:01:01.080 too bad percentage wise. And then l A the epicenter 0:01:01.080 --> 0:01:04.160 of the latest US wave, turning Dodger Stadium into a 0:01:04.200 --> 0:01:07.120 mass vaccination center to inoculate as many as twelve thousand 0:01:07.160 --> 0:01:10.959 people a day. Um, it's four week LA is so 0:01:11.000 --> 0:01:13.759 bad right now, Carol, you have you talked to your family? Yeah? 0:01:13.800 --> 0:01:15.280 I mean my brother's not even there. He moved in 0:01:15.360 --> 0:01:18.840 with my parents, he does, Yeah, three months ago. Alright, 0:01:18.840 --> 0:01:20.800 So let's get our daily check on the virus. Dr 0:01:20.840 --> 0:01:22.600 William Yates is back with us, founder and owner of 0:01:22.680 --> 0:01:25.440 Yates Enterprises. It's a company that provides security solutions to 0:01:25.480 --> 0:01:28.440 schools and other places, like middle detectors to detect guns. 0:01:28.480 --> 0:01:31.840 Temperature detection device is something that certainly comes into play 0:01:31.920 --> 0:01:34.680 during the pandemic. He is a trauma surgeon who grew 0:01:34.760 --> 0:01:36.800 up on the South Side of Chicago, and he is 0:01:36.840 --> 0:01:39.640 once again with us on the phone in Chicago, Doctor Yates, 0:01:39.720 --> 0:01:42.479 Nice to have you back with me and Tim. How 0:01:42.520 --> 0:01:45.959 are you and how's it going in Chicago? Ah? Thanks 0:01:45.959 --> 0:01:49.559 Carol and Tim. Everything is about the same, uh, kind 0:01:49.560 --> 0:01:52.240 of the same gloom and doom, even though you know 0:01:52.320 --> 0:01:55.440 everybody's gearing up with the virus, but the numbers are 0:01:55.440 --> 0:01:58.360 going up, the deaths of going up. And I just 0:01:58.400 --> 0:02:00.920 saw in the United States now the deaths from COVID 0:02:00.920 --> 0:02:03.880 are over, you know, three hundred thousand, which is bigger 0:02:03.880 --> 0:02:06.280 than a city like you know football guys know green 0:02:06.360 --> 0:02:08.919 Bay here, So it's bigger than Green Bay and bigger 0:02:08.919 --> 0:02:12.480 than Birmingham, Alabama. So we have a real problem. And 0:02:12.480 --> 0:02:15.040 then the other problem is this new variant which we're 0:02:15.040 --> 0:02:18.040 seeing out of the UK and South Africa is something 0:02:18.040 --> 0:02:20.680 else that really hasn't been dealt with yet. What do 0:02:20.720 --> 0:02:22.560 you mean it hasn't been dealt with yet? What does 0:02:22.600 --> 0:02:27.600 that mean? Well, just as we really don't know a 0:02:27.680 --> 0:02:29.880 lot about what are the end results, say, of the 0:02:31.240 --> 0:02:34.040 virus and getting the virus, what happens to you and 0:02:34.120 --> 0:02:36.160 you get sick and then you get cured, do you 0:02:36.160 --> 0:02:38.880 still have symptoms right now? As far as this new 0:02:38.960 --> 0:02:42.760 virus number one, we're kind of sure that the vaccine 0:02:42.919 --> 0:02:46.120 works for this virus, But what we're not sure is 0:02:46.760 --> 0:02:49.080 we know it's more infectious, meaning that it has the 0:02:49.120 --> 0:02:52.200 ability to spread faster and easier, but we don't know 0:02:52.400 --> 0:02:56.840 the clinical sequeli meaning if you get this virus, what 0:02:57.000 --> 0:02:59.359 will happen to you in the long run, even if 0:02:59.400 --> 0:03:02.240 you are you know, cured or feel better. We don't 0:03:02.280 --> 0:03:04.320 know the end results of this. Are we starting to 0:03:04.639 --> 0:03:06.640 what I meant, are we starting to see any sort 0:03:06.680 --> 0:03:09.960 of research into that, any results of early people who 0:03:10.080 --> 0:03:13.120 got this. I mean, we've heard about these COVID longhaulers 0:03:13.200 --> 0:03:16.480 who continue to have persistent problems, and it's terrifying I 0:03:16.480 --> 0:03:19.280 think for a lot of people, right, I mean, the 0:03:19.360 --> 0:03:22.240 COVID long haulers interesting and you bring this up. It 0:03:22.360 --> 0:03:24.880 seems to be more prevalent in the younger population, with 0:03:25.040 --> 0:03:29.160 the population which takes the most risk and lives with 0:03:29.280 --> 0:03:34.200 the most wanton abandonment. Abandonment seemed to have more symptoms 0:03:34.280 --> 0:03:36.680 on the back end. In the front end. I saw 0:03:36.720 --> 0:03:41.000 a study where of young people who had COVID and 0:03:41.120 --> 0:03:44.520 got over it, say six to eight months later, we're 0:03:44.560 --> 0:03:49.520 having terrible problems like breathing rhythmias and things like that. 0:03:49.720 --> 0:03:53.080 So it's kind of this is kind of uh, the 0:03:53.360 --> 0:03:56.160 young people should be afraid of COVID and take it seriously, 0:03:56.200 --> 0:03:58.880 even though they aren't getting that sick. Now, as far 0:03:58.920 --> 0:04:02.040 as the new variant, it's just too too early to 0:04:02.160 --> 0:04:04.720 know what's going to happen. It's going to be a 0:04:04.720 --> 0:04:07.920 long hauler and what we don't even know the short 0:04:08.000 --> 0:04:09.880 term of this one. But what we do know is 0:04:09.960 --> 0:04:13.520 that some of the vaccines appear to be promising. The 0:04:13.520 --> 0:04:15.640 one in Europe is the one we're not using. It's 0:04:15.640 --> 0:04:18.960 called astra zeneca. I believe they've tested that against this 0:04:19.040 --> 0:04:21.320 new strain in Europe and it did work. Yeah, so 0:04:21.360 --> 0:04:22.919 that's a good I mean, and my interestanding is that 0:04:22.960 --> 0:04:26.560 you can take an existing the existing COVID vaccine and 0:04:26.760 --> 0:04:29.360 adapted to variance. It does take a little bit of time. 0:04:29.440 --> 0:04:35.800 Is that fair? Is that accurate? That that is accurate? Um. 0:04:35.920 --> 0:04:39.479 Usually the vaccines is sometimes have to be tweaked to 0:04:39.880 --> 0:04:43.599 make them applicable for the new strains, Like the flu vaccine. 0:04:43.640 --> 0:04:46.200 Every year that we get some of those are tweaked 0:04:46.360 --> 0:04:50.320 to uh make way for how the vaccine has mutated. 0:04:50.800 --> 0:04:55.280 So it's unclear if these vaccines are being tweaked and 0:04:55.320 --> 0:04:58.600 it fights the irregular form or they're just taking the 0:04:58.960 --> 0:05:02.680 form that's out right now. I'm I'm wondering what you 0:05:02.720 --> 0:05:05.360 would do. You know, here we are nine days out 0:05:05.400 --> 0:05:08.240 from a new administration. If you were advising the president 0:05:08.760 --> 0:05:11.760 to hit the ground running on January. What is the 0:05:11.839 --> 0:05:15.880 best way to get this under control? Well, I think 0:05:15.880 --> 0:05:18.440 the best We'll see the breakdown if you watch TV 0:05:18.560 --> 0:05:19.960 all the time and you see the guys from the 0:05:20.000 --> 0:05:23.280 military and it looks very official, and they're saying we 0:05:23.320 --> 0:05:26.359 have twenty million million viruses, and then you see the 0:05:26.360 --> 0:05:30.320 FedEx planes landing and so forth and so on. The 0:05:30.440 --> 0:05:34.440 virus is leaving the factory. That's not the problem, right 0:05:35.080 --> 0:05:38.000 the exact vaccine I'm talking about. The problem is at 0:05:38.040 --> 0:05:41.600 the state level. Then things become a little haywire. So 0:05:41.920 --> 0:05:45.560 to answer your question, I would make it very seamless 0:05:45.640 --> 0:05:49.240 at the state level. What happens to the vaccine If 0:05:49.279 --> 0:05:52.600 each state gets one million, this first million goes here, 0:05:52.680 --> 0:05:55.880 and it goes today, you know, and somebody has put 0:05:55.960 --> 0:05:58.479 ahead of that. All the states do the same thing 0:05:58.960 --> 0:06:02.440 and follow this aim plan instead of coming up with 0:06:02.560 --> 0:06:06.640 individual recipes for their success. Because that's where the breakdown 0:06:06.680 --> 0:06:08.760 is right now. It's not the government. The government has 0:06:08.800 --> 0:06:11.560 done pretty well. It's the states that are having the 0:06:11.640 --> 0:06:14.720 problem with administering the vaccine. Right You could probably use 0:06:14.760 --> 0:06:16.880 an assist from the government at this point. Yeah, it's 0:06:16.880 --> 0:06:18.400 a tough thing to do. When we live in the 0:06:18.480 --> 0:06:22.680 United States though, right, we don't have this. It's it's federalism, right, 0:06:22.760 --> 0:06:26.960 States states rates, So it's it's not it's easier than done. Yeah, 0:06:26.720 --> 0:06:30.360 no question. I mean, I'm answering as a scientist. But 0:06:30.920 --> 0:06:33.159 the reason, the reason that people live in the United 0:06:33.200 --> 0:06:36.039 States is for that reason because we do have an 0:06:36.080 --> 0:06:39.400 abundance of rights, and it's not, you know, a dictatorship 0:06:39.520 --> 0:06:42.359 or a fascist type of state. Dr. Yates and I 0:06:42.400 --> 0:06:46.040 know your group at Yates Enterprises um at Yates Protect 0:06:46.680 --> 0:06:50.800 works a lot with thermometers and thermal aging and thermal scanning. 0:06:51.160 --> 0:06:53.640 One thing that we've learned though throughout the pandemic has 0:06:53.680 --> 0:06:59.080 been that having a higher than usual temperature isn't necessarily 0:06:59.320 --> 0:07:03.200 the only endo cater that you could potentially be carrying COVID. 0:07:03.240 --> 0:07:07.000 What have we learned, Well, I guess what we have learned. 0:07:07.040 --> 0:07:10.320 The converse to that is that having a higher than 0:07:10.400 --> 0:07:14.720 normal temperature puts you in the realm possibly of having COVID. 0:07:15.040 --> 0:07:18.120 We know that of the people who have COVID and 0:07:18.240 --> 0:07:22.880 are infective won't have any symptoms at all. But what 0:07:22.920 --> 0:07:25.880 we do know the people who are symptomatic, almost eight 0:07:26.480 --> 0:07:29.520 of those people will have a temperature as defined by 0:07:29.560 --> 0:07:34.960 the CDC above one degree point for fahrenheit. It's almost consistent. 0:07:35.040 --> 0:07:39.440 If you look at every study and type in symptomatic COVID, 0:07:39.880 --> 0:07:43.240 you will find fever is number one up to Some 0:07:43.520 --> 0:07:45.920 studies show as low as eighty, some show as high 0:07:45.960 --> 0:07:49.760 as ninety six. So I think it is worthwhile and 0:07:49.800 --> 0:07:51.480 I think it's going to be standard of care in 0:07:51.520 --> 0:07:54.280 the world because what it's proved to us, having a 0:07:54.320 --> 0:07:57.320 fever every day is not normal. You can't fake or fever. 0:07:57.440 --> 0:08:00.640 To get a fever, your hypothalamus in your brain has 0:08:00.680 --> 0:08:03.560 to be activated. And even if you don't have COVID, 0:08:03.680 --> 0:08:05.720 you shouldn't be at work with the feed. That's the 0:08:05.760 --> 0:08:08.680 main thing we learned. What happens to this technology. If 0:08:08.720 --> 0:08:11.000 you know, somebody walks in from outside and they've been 0:08:11.040 --> 0:08:15.000 in below freezing temperatures for ten minutes walking from their 0:08:15.000 --> 0:08:17.040 home to work or on their commute, and they walk 0:08:17.080 --> 0:08:19.360 in and they get scanned and the surface of their 0:08:19.360 --> 0:08:22.760 skin is is colder than usual, that's a good question. 0:08:22.840 --> 0:08:25.520 So that we get asked that all the time, and 0:08:25.560 --> 0:08:29.040 so we ask people to have a separate area for 0:08:29.200 --> 0:08:32.800 kind of a equilibrium process where not a lot of 0:08:32.800 --> 0:08:35.720 people are. All it will take is from about ten 0:08:35.800 --> 0:08:38.959 minutes for that person to return to what we call 0:08:39.000 --> 0:08:42.680 an equilibrium state, and then we check them. But on 0:08:42.720 --> 0:08:45.520 some of the machines, we can raise the threshold and 0:08:45.600 --> 0:08:49.240 get what temperature they were at and it'll make the 0:08:49.320 --> 0:08:53.080 calculation for but it takes, you know, some doing. So 0:08:53.400 --> 0:08:55.600 to make it easy, we have them have a place 0:08:55.600 --> 0:08:57.880 where the person can stay for about ten minutes and 0:08:57.920 --> 0:09:02.000 then we check them. So a lot of the temperature 0:09:02.000 --> 0:09:04.360 scanners that companies have are they kind of a joke. 0:09:06.520 --> 0:09:09.440 Well I'm in the business, I'm gonna say mine on it. Joke. 0:09:10.760 --> 0:09:13.120 Well okay, that's fine, but you know what I'm saying. 0:09:13.840 --> 0:09:16.520 You know, I get you. I'm gonna answer. I think 0:09:16.559 --> 0:09:20.120 a lot our joke because a lot of people use 0:09:20.200 --> 0:09:24.880 them incorrectly. And when I go into restaurants are different places, 0:09:25.120 --> 0:09:27.800 they kind of go through the motions and they never 0:09:27.920 --> 0:09:29.880 look at the number. I know that for a fact 0:09:29.920 --> 0:09:31.679 because I just walk in and I just give them 0:09:31.720 --> 0:09:33.840 any part of my body and they just if I 0:09:33.880 --> 0:09:36.240 give them my knee, they'll scan my knee, you know. 0:09:36.360 --> 0:09:40.280 So you have to be very diligent about where you 0:09:40.360 --> 0:09:43.600 scan because those are measuring body surface temperature, not body 0:09:43.600 --> 0:09:46.640 core temperature, and you should do it. The best place 0:09:46.679 --> 0:09:49.000 to do it is the forehead or on the side 0:09:49.000 --> 0:09:52.080 of the forehead, or something called the temporal artery is 0:09:52.160 --> 0:09:54.760 beating under their Those are the best places the risk. 0:09:55.160 --> 0:09:57.920 Everybody's hand is the coldest thing on their body. That's 0:09:57.920 --> 0:10:00.680 why we wear gloves. So when you start shooting at 0:10:00.720 --> 0:10:04.680 the wrist and everybody's going to pass. So I hope 0:10:04.720 --> 0:10:08.200 that answers the question. But the technology is good, but 0:10:08.320 --> 0:10:10.559 it's only as good as the operator. I think that 0:10:10.640 --> 0:10:13.400 we get shot in our forehead, don't we get full body? 0:10:13.440 --> 0:10:17.319 I think full body? Um, hey, Dr Yates just got 0:10:17.320 --> 0:10:20.840 about thonds here. I don't know. So in terms of 0:10:20.880 --> 0:10:23.800 getting back to normal, how do you see it? Just quickly, 0:10:25.240 --> 0:10:28.320 as quick as I can say it about two years. 0:10:28.480 --> 0:10:31.120 It's going to take that long, probably with the vaccine 0:10:31.160 --> 0:10:33.920 and to get hurt immunity, and then by then there's 0:10:33.920 --> 0:10:36.560 gonna be some other pathogens that we need to worry about, 0:10:36.880 --> 0:10:40.160 so it will never look the same, but it'll be closer. 0:10:40.760 --> 0:10:42.640 I mean, you've heard about the one in South Africa. 0:10:42.720 --> 0:10:44.480 We didn't even talk about that. We talked about the 0:10:44.480 --> 0:10:47.840 one in the UK. There's another variant in South Africa 0:10:48.360 --> 0:10:51.400 that's a little sticky as far as you know, being 0:10:51.440 --> 0:10:55.520 able to you know, fall into being killed by the vaccine. 0:10:56.360 --> 0:10:59.400 Happy Monday, everything I was going to say. Happy Dr Yates. 0:10:59.440 --> 0:11:01.959 All right, Dr Yates, thank you so much. Stay safe, 0:11:02.040 --> 0:11:05.200 be well. Dr William Yates, founder and owner of Yates Enterprises, 0:11:05.600 --> 0:11:09.040 on the phone from Chicago. Well, that's the new reality. Though. 0:11:09.080 --> 0:11:10.800 We've got to be aware that there's going to be 0:11:11.000 --> 0:11:13.120 you know, that's why there's virus hunters out there. Yeah. 0:11:13.120 --> 0:11:15.559 I think we have to just adjust our expectations. That's 0:11:15.559 --> 0:11:17.920 the key to not getting too disappointed. I think so too. 0:11:18.080 --> 0:11:22.520 This is Bloomberg Business Week with Carol Messer from Bloomberg Radio. 0:11:22.880 --> 0:11:24.720 It's a new day and yet an old reminder of 0:11:24.720 --> 0:11:28.800 how powerful big tech is. A social media giants Facebook, Twitter, Google, 0:11:28.880 --> 0:11:31.640 All Band, President Trump and others, in an effort to 0:11:31.640 --> 0:11:35.880 prevent further riot organizing, one already fighting back. Um, this 0:11:36.000 --> 0:11:38.520 is already one of our big stories of let's get 0:11:38.559 --> 0:11:41.720 into it reporting for a Business Week. Bloomberg News technology 0:11:41.720 --> 0:11:44.240 reporter and author of No Filter, The inside Story of Instagram, 0:11:44.320 --> 0:11:46.520 Sarah Fryer with us on the phone in San Francisco 0:11:46.559 --> 0:11:49.000 along with Bloomberg Business Week editor Jill Weber on the 0:11:49.080 --> 0:11:52.280 Access line in Brooklyn. You know, big tech. We knew 0:11:52.320 --> 0:11:54.920 coming into it was going to be a story that 0:11:55.000 --> 0:11:56.520 was on our radar, but I don't know that we 0:11:56.559 --> 0:11:58.040 thought it was going to be on our radar, Joel, 0:11:58.120 --> 0:12:02.040 in this way I was looking forward to that didn't 0:12:02.080 --> 0:12:04.720 look anything like. I don't think I'll be so lucky. 0:12:04.920 --> 0:12:08.640 Um and and obviously um um. Last week's chaos actually 0:12:08.720 --> 0:12:10.760 came to a head even again over the weekend with 0:12:10.880 --> 0:12:15.680 sort of the social media platforms um basically basically you know, 0:12:15.720 --> 0:12:20.080 not only blocking Trump and and perhaps permanently banning him 0:12:20.120 --> 0:12:22.040 in the case of Twitter. But then I think the 0:12:22.480 --> 0:12:26.439 parlor conversation has become the one that's even more interesting 0:12:26.480 --> 0:12:30.479 because um, both the Apple App Store and and Google's 0:12:30.480 --> 0:12:33.720 play Store have taken restrictions there. But then I thought 0:12:33.760 --> 0:12:35.600 the big move in the one that I was actually 0:12:35.600 --> 0:12:37.280 most eager to talk to Sara about, was sort of 0:12:37.320 --> 0:12:42.360 the the Amazon move awus coming in and basically blocking it. 0:12:42.480 --> 0:12:46.400 I mean this, yeah, but it does show you know, 0:12:46.480 --> 0:12:49.079 like not only are the social media companies able to 0:12:49.120 --> 0:12:51.600 wield a stick, but like Amazon's got the biggest stick 0:12:51.640 --> 0:12:55.400 of all. So so Sarah kind of there's this is 0:12:55.440 --> 0:12:58.480 just a fast moving story. But I want to understand, 0:12:58.559 --> 0:13:02.160 like how you're thinking about where this conversation goes from 0:13:02.160 --> 0:13:06.199 from here. Well, it dove tails right in with the 0:13:06.320 --> 0:13:08.760 tech power conversation that we're going to have a lot 0:13:08.840 --> 0:13:13.600 more of this year as these anti trust of battles 0:13:13.600 --> 0:13:17.120 with Washington rage on, and I expect that to continue 0:13:17.160 --> 0:13:20.480 during the Biden administration. And that tech power conversation is 0:13:20.800 --> 0:13:25.440 both about, you know, the power to restrict as as 0:13:25.520 --> 0:13:28.720 much as it is about the power to allow um. 0:13:28.760 --> 0:13:33.040 And so the companies are grappling with this, allowing Parlor 0:13:33.480 --> 0:13:36.720 to be on the App Store, allowing Parlor to have 0:13:37.600 --> 0:13:42.160 UM posting by Amazon. That's something that employees are looking at, 0:13:42.480 --> 0:13:45.360 critics are looking at and saying, well, why don't you 0:13:45.440 --> 0:13:48.080 just cut them off? You have the power to do that. 0:13:48.160 --> 0:13:51.360 You're a private company, and the company there are saying, 0:13:51.440 --> 0:13:53.559 you know what, Yeah, we don't want to be dealing 0:13:53.600 --> 0:13:56.200 with this this we don't want this headache. And and 0:13:56.280 --> 0:14:00.360 it's really interesting to see that evolution because we we've 0:14:00.360 --> 0:14:01.920 talked about it a lot, like you said, with the 0:14:01.960 --> 0:14:05.760 social media companies, Uh, it's a lot of conservatives are 0:14:05.760 --> 0:14:10.120 concerned about too much cutting off of people who have accounts. 0:14:10.160 --> 0:14:13.880 A lot of people on the democratic side are concerned 0:14:13.880 --> 0:14:17.880 about the hosting of illegal activity and um people who 0:14:17.880 --> 0:14:23.040 are inciting violence, and in the balance is really what 0:14:23.320 --> 0:14:28.360 is is UH an issue here? So, Sara a lot 0:14:28.680 --> 0:14:31.560 and you mentioned this that a lot of the heat 0:14:31.640 --> 0:14:35.040 on the companies actually came from their own employees. So 0:14:35.080 --> 0:14:38.040 what have we seen in not only from a to bus, 0:14:38.200 --> 0:14:41.880 but but at Facebook and Apple? What what sort of 0:14:41.960 --> 0:14:46.880 internal factions are the companies navigating well? Silicon Valley companies 0:14:46.920 --> 0:14:49.520 have a reputation for being really mission driven, and I 0:14:49.560 --> 0:14:54.560 think a lot of employees have had personal reckoning over 0:14:54.600 --> 0:14:57.520 the last few years. Is it ethical to work for Facebook? 0:14:57.600 --> 0:14:59.720 Is it ethical to work for Google if they're working 0:14:59.720 --> 0:15:04.720 with the Offense Department on you know, um, putting people 0:15:04.720 --> 0:15:06.480 in cases of the border. There have been a lot 0:15:06.560 --> 0:15:11.520 of new debates about what it means if you work 0:15:11.560 --> 0:15:15.680 for a company that has certain suppliers, certain vendors, certain contracts, 0:15:15.720 --> 0:15:19.440 and host certain voices. And so we have seen employees 0:15:19.480 --> 0:15:24.360 the almost the more forceful voice against their leaders and 0:15:24.480 --> 0:15:28.320 even the government because the government can't can't really be 0:15:28.440 --> 0:15:31.760 clear about what they want. Everyone's scrutinizing tech power, but 0:15:31.800 --> 0:15:35.280 they don't necessarily have a clear direction of what would 0:15:35.320 --> 0:15:38.520 be a good resolution. Whereas employees, you know, they're mostly 0:15:38.680 --> 0:15:42.040 they're mostly liberal, they're well educated, and they're saying, hey, 0:15:42.400 --> 0:15:45.160 I don't want to work for a place that supports 0:15:45.160 --> 0:15:47.960 something like this. And we saw an open letter from 0:15:47.960 --> 0:15:52.520 Twitter employees to Jack Dorothy asking for a bigger ban 0:15:52.840 --> 0:15:55.600 on Trump's They had previously only banned him for twelve 0:15:55.640 --> 0:15:58.560 hours and now that he's permanently banned. And we've seen 0:15:58.760 --> 0:16:04.320 we've seen Amazon employees right to their employer about parlor, saying, 0:16:04.360 --> 0:16:06.840 why are we hosting parlor? We should we should kick 0:16:06.880 --> 0:16:10.240 them off. And I think that that power should not 0:16:10.320 --> 0:16:14.200 be underestimated because of how hard it is to recruit 0:16:14.240 --> 0:16:17.480 and Silicon Valley the best talent. Well, and what's to 0:16:17.600 --> 0:16:21.200 stop I don't know, Like I don't know whether there's 0:16:21.200 --> 0:16:24.200 oranges to oranges, apples to apples, but another company from 0:16:24.240 --> 0:16:27.360 saying I don't like Well, I guess companies do that 0:16:27.400 --> 0:16:28.840 right if they don't want to work with a supplier, 0:16:28.920 --> 0:16:30.800 or if they don't want to work with something, they 0:16:30.840 --> 0:16:33.120 have that opportunity to do it, Sarah. I'm just trying 0:16:33.120 --> 0:16:37.400 to understand the differences or not differences from another company 0:16:37.480 --> 0:16:41.080 kind of banning something, you know, whether they don't sell 0:16:41.160 --> 0:16:44.640 to a certain customer. Um, they do that all the time, right, 0:16:45.720 --> 0:16:50.320 well sometimes so Okay, a few years ago, companies, we're 0:16:50.400 --> 0:16:53.120 happy to just work within the bounds of the law. 0:16:53.440 --> 0:16:57.760 There are sanctions against Iran, we won't sell to around that. 0:16:57.760 --> 0:17:00.040 That was like, you know, if it's a legal we 0:17:00.120 --> 0:17:02.960 won't do it. Um. And that's how Facebook and Twitter 0:17:03.040 --> 0:17:06.199 thought about content a lot in the early days, you know, 0:17:06.800 --> 0:17:10.120 remove as little as possible. Now, I think the tech 0:17:10.119 --> 0:17:13.679 companies are recognizing that they have this tremendous power and 0:17:13.880 --> 0:17:17.959 the ability to move more quickly than the government in 0:17:18.000 --> 0:17:20.680 many cases to to fix that they have. They also 0:17:20.720 --> 0:17:25.080 have this great insight into what's happening, um, faster than 0:17:25.600 --> 0:17:29.840 law enforcement officials have. Facebook, of course this is going 0:17:29.880 --> 0:17:32.440 to have to be providing law enforcement with a lot 0:17:32.480 --> 0:17:36.440 of the images of people who who were in the 0:17:36.520 --> 0:17:39.480 violent mob last Wednesday. So so I think that the 0:17:39.520 --> 0:17:42.719 companies are coming waking up to their power. But it's 0:17:42.760 --> 0:17:44.919 also a politically convenient time for them to do so 0:17:45.040 --> 0:17:50.120 because they're seeing that the power in Washington is shifting 0:17:50.200 --> 0:17:54.360 to the Democrats, and that party is a lot more 0:17:55.040 --> 0:17:59.360 um more in favor of tech companies taking responsibility for 0:17:59.720 --> 0:18:04.159 the power. They have a Republic conversation. So so can 0:18:04.200 --> 0:18:07.640 we just um talk about Parlor specifically for a second here, 0:18:07.680 --> 0:18:09.760 because what does what does the company like that go? 0:18:10.160 --> 0:18:13.480 Now like they've ultimately just had the power plug pulled 0:18:13.480 --> 0:18:16.440 out on them, um already, probably we're going to face 0:18:16.640 --> 0:18:19.440 some iro from from Democrats. I thought, you know, back 0:18:19.480 --> 0:18:22.000 to Carol's question there for a second. One interesting thing 0:18:22.000 --> 0:18:24.440 here was it wasn't like an arbitrary decision that any 0:18:24.480 --> 0:18:27.720 of these tech companies used to enforce this. They actually said, well, 0:18:27.760 --> 0:18:31.639 we have a code effectively and and Parlors uh in 0:18:31.720 --> 0:18:35.160 defiance of that code and and therefore that's what gives 0:18:35.240 --> 0:18:37.639 us cover to basically make this decision. So what does 0:18:37.680 --> 0:18:39.480 the company like Parlor go from here? And sorry just 0:18:39.520 --> 0:18:44.200 got about seconds just quickly. Well, Parlor is using this 0:18:44.560 --> 0:18:48.320 as a marketing opportunity, just like you know GAB when 0:18:48.320 --> 0:18:50.919 they were banned that they they said, you know, they 0:18:50.920 --> 0:18:53.280 don't want they don't want to hear us, but we're 0:18:53.320 --> 0:18:56.160 still here. We're still going to survive. I think Parlor 0:18:56.359 --> 0:18:59.040 is going to have to find an audience a different way. 0:18:59.520 --> 0:19:02.600 It's sinately going to be so difficult for them to 0:19:02.640 --> 0:19:06.960 survive and grow without access to the app stores that 0:19:06.960 --> 0:19:09.080 that makes it a lot less mainstream. You have to 0:19:09.119 --> 0:19:12.199 actually know how to get there. In other words, Uh, 0:19:12.359 --> 0:19:14.359 let's see looking into my crystal ball. And yes, we 0:19:14.400 --> 0:19:16.320 will be talking about this a lot this year, no 0:19:16.320 --> 0:19:18.439 doubt about it. Um Sara and Jel You guys are 0:19:18.440 --> 0:19:21.119 the best sarifier technology reporter at Bloomberg News. Check out 0:19:21.160 --> 0:19:25.399 our book No Filter. Joe Weber Editor. This is Bloomberg 0:19:25.400 --> 0:19:29.080 Business Week with Carol Messer and Bloomberg Quick Takes Tim 0:19:29.160 --> 0:19:32.680 Stenovic on Bloomberg Radio. Bloomberg Business Week brought to you 0:19:32.760 --> 0:19:35.720 by SEI. Since its founding fifty years ago, SEI has 0:19:35.760 --> 0:19:39.680 provided investment managers and asset owners with robust infrastructure platforms 0:19:39.680 --> 0:19:42.520 and flexible outsourcing solutions. Check it out go to se 0:19:42.520 --> 0:19:45.600 I C dot com slash i m S. So let's 0:19:45.640 --> 0:19:49.080 get to our next segment, because it's about the founding 0:19:49.119 --> 0:19:52.760 father of the People's Republic of China, controversial for his policies, 0:19:52.840 --> 0:19:56.920 disastrous really the greatly forward and the cultural revolution back 0:19:56.920 --> 0:19:59.960 in the late nineteen fifties and nineteen sixties. We're talking 0:20:00.000 --> 0:20:02.320 about Chairman Mao. And the reason we're talking about him 0:20:02.400 --> 0:20:05.359 is because his reign and his methods are not dissimilar 0:20:05.400 --> 0:20:08.879 to President Trump. It's provocative, it's thoughtful, it's the exact 0:20:08.920 --> 0:20:10.840 conversation we need to be having right now. The reason 0:20:10.840 --> 0:20:14.119 we're talking about it is because Bloomberg neew Economy editorial 0:20:14.119 --> 0:20:16.720 director Andy Brown brought it to our attention. It's in 0:20:16.800 --> 0:20:20.080 his latest column. Andy is on the phone in New Hampshire. Hey, Andy, 0:20:20.240 --> 0:20:23.520 nice to have you here. Um, I haven't had a 0:20:23.600 --> 0:20:25.960 chance to talk with you. It's been such a crazy week. 0:20:26.400 --> 0:20:29.119 How do you kind of think about this last week 0:20:29.160 --> 0:20:34.720 and President Trump as a leader? Well, you know, the 0:20:34.760 --> 0:20:38.600 way I've been looking at it is through the eyes 0:20:38.840 --> 0:20:43.360 of Chinese officials and state media UM, and they're having 0:20:43.400 --> 0:20:48.560 a field day with this. It plays absolutely into their 0:20:50.000 --> 0:20:53.320 a dominant narrative, which which is of the United States 0:20:53.400 --> 0:20:57.720 is impermanent decline UM, starting with the two thousand and 0:20:57.760 --> 0:21:01.480 eight two thousand and nine financial cry, which the United 0:21:01.520 --> 0:21:05.639 States arguably never really fully recovered from UM, and now 0:21:05.680 --> 0:21:10.440 this meltdown as they see it, UM, of the American 0:21:10.840 --> 0:21:15.560 system of democracy, which of course is key to American 0:21:15.680 --> 0:21:21.720 prestige and power projections, particularly soft power projection around the world. 0:21:22.200 --> 0:21:24.879 And they're looking at this and they're saying, you know, 0:21:25.080 --> 0:21:30.520 our system is not only produced a far more serious 0:21:30.640 --> 0:21:35.200 and successful response to COVID nineteen, which now underpins our 0:21:35.320 --> 0:21:38.960 economic recovery, and the economy in China is pretty much 0:21:39.000 --> 0:21:44.720 operating normally now, but it's also delivered critically stability. And 0:21:44.760 --> 0:21:48.919 they are comparing and contrasting all this with frankly, the 0:21:49.000 --> 0:21:53.600 chaos that we've witnessed in in Washington, d C. This 0:21:53.680 --> 0:21:56.160 is all happening against the backdrop of a trade war 0:21:56.520 --> 0:22:00.720 with China, relations not any very good place. I think 0:22:00.760 --> 0:22:04.680 it's fair to say, Andy, um, what is the environment 0:22:04.800 --> 0:22:08.840 that President elect Biden inherits, the relationship that President elected 0:22:08.840 --> 0:22:11.560