Speaker 1: Hi, it's West Kasova. We're taking a break this week
Speaker 1: for the holidays, so here's an episode you might have missed.
Speaker 1: Hey Vicky, you have two sons and two dogs, so
Speaker 1: here's a question which of them is more expensive.
Speaker 2: The dog's food is crazy expensive, but the boys are growing,
Speaker 2: so I feed them sometimes too.
Speaker 1: From Bloomberg News and iHeartRadio, it's the Big Take. I'm
Speaker 1: West Kasova today. How much are you spending on your pet?
Speaker 1: When the conversation turns to pets, and at some point
Speaker 1: it just always does. After the phones come out and
Speaker 1: the photos are pat around my.
Speaker 2: Animals and send them to you all.
Speaker 3: Oh my god, how cute.
Speaker 1: It's only a matter of time before it's all about
Speaker 1: how much the care and upkeep of dogs and cats costs.
Speaker 1: That's exactly what happened when the Big Take crew was
Speaker 1: putting together this episode.
Speaker 4: My cat's son, Sylvie, costs a lot. When it comes
Speaker 4: to diet. He's on a prescription diet because he is
Speaker 4: allergic to everything, and that food went up fourteen dollars
Speaker 4: over the last ten months or so, so it used
Speaker 4: to be seventy seven now it's ninety one dollars.
Speaker 1: Ninety one dollars Catherine for food.
Speaker 4: Yep, and that might sound bad already, but something to
Speaker 4: know about Sylvie is that he of course hates his
Speaker 4: prescription food. So I spent about twenty dollars a month
Speaker 4: extra buying things to sort of doctor up the bowl,
Speaker 4: like treats, beef toppings. We're trying a new beef broth
Speaker 4: this week.
Speaker 3: Funnily, I know Catherine, my cat too has a broth obsession.
Speaker 3: So Wednesday is my cat. She's a Persian cat. She
Speaker 3: has the classic grumpy flat face. Basically, I have to
Speaker 3: give her this thing called lysing. It's like an immune support.
Speaker 3: So what I do is I take a little scoop
Speaker 3: of liceing and I mix it into the broth. And
Speaker 3: the broths are not cheap. It's a liquid and it
Speaker 3: has solids. She doesn't eat the solids, and I know
Speaker 3: that's what keeps the cost up.
Speaker 5: Wow, I lucked out. I have a three legged rescue
Speaker 5: dog named Igy. She's a little angel. She's not picky
Speaker 5: at all food wise. She'll eat whatever you put in
Speaker 5: front of her. But that has also gotten us into
Speaker 5: trouble because somehow, three legged or not, she managed to
Speaker 5: get up on the counter while we were gone one
Speaker 5: day and I had just bought a bag of currants
Speaker 5: to try on my oatmeal. I was excited. I was like,
Speaker 5: dried food on the oatmeal.
Speaker 3: Loo, let me go.
Speaker 5: And we come back home from dinner, my partner and
Speaker 5: I and lo and behold there are currents spread across
Speaker 5: the couch. She ate the whole bag. It's roughly a cup.
Speaker 5: First we're like, oh haha, how quirky.
Speaker 1: Then we call.
Speaker 5: There's apparently a pet poison hotline, so right there, seventy
Speaker 5: five right off the bat. So you get on the
Speaker 5: phone and the person goes, okay, there are two options here.
Speaker 5: One totally harmless, totally fine, option two. Three of them
Speaker 5: will poison her. So then we had to go to
Speaker 5: the emergency Vet, which, up front, I think I had
Speaker 5: to put something like twenty five hundred dollars on my
Speaker 5: card for them to even do anything. Luckily ended up
Speaker 5: only being thirteen hundred, so a bargain.
Speaker 2: Yeah, I will say, I've also had my poor pop
Speaker 2: astro who ate something. We still don't know what it was,
Speaker 2: but yeah, trip to the emergency Vet and you know,
Speaker 2: stomach X rays and everything out the gate. It was
Speaker 2: a good fifteen hundred at least, and I did have
Speaker 2: pet insurance so that covered some of it, but that
Speaker 2: pet insurance does not cover the three hundred dollars a
Speaker 2: year bill just to get a wellness check. When I
Speaker 2: adopted my dog Astro, it was required by the adoption
Speaker 2: agency that I get pet insurance for him. So it
Speaker 2: started off thirty five bucks a month, but then he
Speaker 2: had that whole issue where he ate something we weren't
Speaker 2: sure what it was. After that, the monthly premium went
Speaker 2: way up and it's almost double, So it's great if
Speaker 2: you don't need it.
Speaker 1: Okay, what's the strangest pet expense you've come across.
Speaker 3: My best friend has an exotic short hair cat named
Speaker 3: Pistachio Muffin, and he, much like my beloved persian Wednesday,
Speaker 3: has a flat face. One vet said that he had
Speaker 3: never seen nostrils on a cat so small, and those
Speaker 3: small nostrils led to breathing issues, respiratory issues, and it
Speaker 3: was just a bad time for little Pistachio. So the
Speaker 3: vet suggested, you can get the nostrils widened. There are
Speaker 3: surgeons that will do this a cat nose job, a
Speaker 3: cat knows job. Of course, the only surgeon was on
Speaker 3: the upper east side, and for this nostril widening surgery
Speaker 3: it was twelve hundred dollars.
Speaker 1: So, given how much all of your dogs and cats
Speaker 1: are draining your bank accounts, do you have any regrets?
Speaker 1: Would you give them up? Would you not get them
Speaker 1: if you knew what you were in for?
Speaker 5: Never?
Speaker 2: They bring me so much joy it's worth every cent.
Speaker 3: I used to think that the amount of money people
Speaker 3: spent on their pets was absurd until I adopted Wednesday,
Speaker 3: and now I will gladly go into massive debt to
Speaker 3: keep her happy and healthy.
Speaker 5: Before adopting I GI, my partner and I sat down
Speaker 5: and had a budgeting conversation and we kind of thought
Speaker 5: we had an idea of what it would be and
Speaker 5: what our backup plan was should the worst happen. And
Speaker 5: then the Currents happened and we were like, oh, now
Speaker 5: we get it, but no, wouldn't give her up, would
Speaker 5: keep her in a heartbeat. I will just never buy
Speaker 5: Currents again.
Speaker 4: I die for so hands down.
Speaker 1: Reporters Knako Katan and Brendan Case wondered, if each of
Speaker 1: us is spending so much on our pet, how much
Speaker 1: are we all spending? They set out to put a
Speaker 1: number on what they call the global pet economy.
Speaker 6: So the worldwide pet economy right now is well north
Speaker 6: of three hundred billion dollars, and the next seven years
Speaker 6: are going to be a big story about growth. Bloomberg
Speaker 6: Intelligence is predicting that number is going to get up
Speaker 6: to about half a trillion dollars, very close to five
Speaker 6: hundred billion dollars. And you've got the US that is
Speaker 6: accounting for not quite half, but almost half of the total.
Speaker 6: But you've also got growth in Europe, and you've got
Speaker 6: the fastest growth in the rest of the world, particularly
Speaker 6: emerging markets. And so you've got a global trend with
Speaker 6: certainly more pets because of the pandemic, and especially in
Speaker 6: the US, there is an uptick in the population. And
Speaker 6: for each pet, you've got rising average spending because of
Speaker 6: this new collection of services, healthcare and premium products that
Speaker 6: pet owners can buy.
Speaker 4: Now.
Speaker 1: I remember when I was a kid. Of course people
Speaker 1: had pets, but they weren't taking them to the doctor
Speaker 1: for MRIs and doing a lot of these really intensive
Speaker 1: medical treatments, buying them fancy gourmet food. When did all
Speaker 1: this start to become a really big thing.
Speaker 7: It's been growing rapidly for a long time. It was
Speaker 7: recession proof during two thousand and seven, eight and nine.
Speaker 7: It was continuing to grow through that. But then I
Speaker 7: think maybe in the last ten or thirteen years is
Speaker 7: when the drug companies that we interviewed started to notice
Speaker 7: this is huge. We have this great anecdote from Zoetis,
Speaker 7: which is the largest pet healthcare company, saying that their
Speaker 7: animal livestock portion of their pet business used to be
Speaker 7: sixty four percent and the rest was pets. In the
Speaker 7: past ten years, that has completely flipped to the exact opposite.
Speaker 1: And why is that? Why are people now just spending
Speaker 1: more on their pets than they did before.
Speaker 7: You just see pets becoming part of the household. They're
Speaker 7: treated as one of the family more and more. Then
Speaker 7: you have the pandemic where there was just a huge
Speaker 7: uptick in pet adoptions, and then add sort of the
Speaker 7: lifestyle of the youngest generations Gen Z and millennials that
Speaker 7: are also kind of contributing to more spending, and they
Speaker 7: admit they're spending more on their pets than ever before,
Speaker 7: just you know, before maybe starting families.
Speaker 6: That's a really big part of the story. You know,
Speaker 6: you get gen z, you get millennials, and statistically they're
Speaker 6: starting families a little later, and if you look at
Speaker 6: the surveys, they're the ones who are out there saying
Speaker 6: much more than other generations that you know, yes, pets
Speaker 6: are very much part of the family. They buy into
Speaker 6: the whole sort of trend towards humanization, and they are
Speaker 6: willing to spend pretty heavily on their cats and dogs
Speaker 6: and other pets.
Speaker 1: Brandon, you mentioned earlier that in the US especially, there
Speaker 1: was this uptick in people getting pets during the pandemic.
Speaker 1: How big an increase was it.
Speaker 6: The increase in pet ownership was one of the big
Speaker 6: stories in the early stages of the pandemic. And what
Speaker 6: you end up with three years down the line is
Speaker 6: that Morgan Stanley estimates that there are about five million
Speaker 6: more pets in the US as of the middle of
Speaker 6: last year compared with twenty nineteen. That's an increase of
Speaker 6: about four percent. So you've got a rising population of
Speaker 6: companion animals. But it's not just that, it's also rising
Speaker 6: spending on each pet. So to give you an idea
Speaker 6: of the numbers, the Labor Department calculates that household pets
Speaker 6: spending went up about thirteen percent as of twenty twenty
Speaker 6: one from two twenty nineteen. That thirteen percent increase is
Speaker 6: not quite twice the average rate of inflation during that period,
Speaker 6: but it's close. And so if you drill down into
Speaker 6: dollar terms, what you see is that according to Bloomberg Intelligence,
Speaker 6: it costs about fifteen hundred dollars to own a dog
Speaker 6: that's per year in the US, and it costs close
Speaker 6: to one thousand dollars to own a cat.
Speaker 7: So those numbers, maybe, on average they're right, but everyone
Speaker 7: we spoke with for this article, and everyone I know,
Speaker 7: spends more than that. So for example, we spoke with
Speaker 7: one woman, Susan Genteel. She's a public school teacher who
Speaker 7: spent about eight thousand dollars or more on her dog, Elvis,
Speaker 7: because sadly, he had a heart condition. She was spending
Speaker 7: on echo cardiograms, she was spending on hyperbaric chambers. You know,
Speaker 7: she's spending a lot of money to keep her dog healthy.
Speaker 7: This is another part of what's really taking pet ownership
Speaker 7: into the next level, you know, the next boom, which
Speaker 7: is the cost of health care, the cost of vet services,
Speaker 7: the fact that a lot of the medicine innovation that
Speaker 7: you're seeing in the human health sector are transferring into
Speaker 7: the animal health sector more.
Speaker 1: With Brendan and Naka when we come back. Knaka, before
Speaker 1: the break, you were talking about how more and more
Speaker 1: expensive medical procedures for pets are becoming the norm. Now,
Speaker 1: what are some of these procedures that people are having
Speaker 1: done on their animals that they just didn't do in
Speaker 1: past years.
Speaker 7: I mentioned echo cardiograms. There are also a ton of
Speaker 7: innovative medicines that have just been approved for these sort
Speaker 7: of big pharma companies. They sort of have their roots
Speaker 7: in big pharma, and then some of them spun off
Speaker 7: and became just focused on pets. So you could be
Speaker 7: treated for osteoarthritis using monoclonal antibodies, which was used, for example,
Speaker 7: to fight COVID. And then there are top line diabetes
Speaker 7: drugs that you can find now used for pets. And
Speaker 7: in the case that we spoke with a woman whose
Speaker 7: dog had a heart condition, she was telling us that
Speaker 7: she used the same medication for her dog, Elvis, that
Speaker 7: her father took, so she would give half a pill
Speaker 7: to Elvis and her dad would take a full pill.
Speaker 6: It's not just medicine. It's also a lot more scans
Speaker 6: like the electrocardiogram I was talking about. Another example is
Speaker 6: an MRI. One of the people we talked to said that,
Speaker 6: you know, time was maybe ten, fifteen, twenty years ago.
Speaker 6: If you lived near a sort of a teaching hospital
Speaker 6: veterinary medicine, then yeah, you could probably get an MRI,
Speaker 6: but not many people did. Now that's a service that
Speaker 6: you can essentially walk in and get. The downside is
Speaker 6: that it's going to set you back, you know, two
Speaker 6: thousand dollars or more.
Speaker 1: What would it happen to a dog like Elvis five
Speaker 1: years ago, ten years ago? Was there any kind of
Speaker 1: treatment like this, let alone the kind of diagnostics that
Speaker 1: are very common for pets these days, you know.
Speaker 6: For a dog like Elvis and for a lot of
Speaker 6: pets out there, the sad answer is probably they would
Speaker 6: have died earlier. And I think that you have elements
Speaker 6: of some people being more willing to spend a lot
Speaker 6: on advanced treatments. You also have a situation where these
Speaker 6: advanced treatments are out there, and yes, the providers do
Speaker 6: want to use the expensive equipment to provide the best service.
Speaker 6: They can't if you talk with some vets, I think
Speaker 6: that one lesson you come away with is that they,
Speaker 6: you know, they do have the issue of affordability in mind.
Speaker 6: It's something that they struggle with as well. But the
Speaker 6: fact remains that there certainly are people out there, you know,
Speaker 6: pet owners who are demanding those services. And so you've
Speaker 6: got the veterinary medicine industry that is, you know, adjusting
Speaker 6: to provide them and take advantage of a lot of
Speaker 6: the technology that they can bring to bear.
Speaker 7: And there are lots of surveys about just how close
Speaker 7: families feel to their pets. Above ninety percent feel that
Speaker 7: their pets are part of their family or one of
Speaker 7: their children. Almost above eighty percent, eighty five percent or
Speaker 7: so say they would spend any amount of money to
Speaker 7: care for their pets no matter what. And I think
Speaker 7: that was one of the most surprising things you mentioned, Wes,
Speaker 7: is just how much people are willing to spend, and
Speaker 7: with the available services and diagnostics and drugs out there,
Speaker 7: they can do that now. And it's interesting what I
Speaker 7: also found a lot of times people almost underestimate how
Speaker 7: much they've spent, and when you ask them to itemize it,
Speaker 7: it's a lot higher than they expected.
Speaker 6: Yeah, well, you know, Elvis himself had a nine hundred
Speaker 6: dollars electrocardiogram. An MRI goes for two thousand dollars or more.
Speaker 6: And that's according to a group called the Pet Fund
Speaker 6: that exists to try to help people pay for care
Speaker 6: that they can't afford on their own. And if you
Speaker 6: talk with them, they say that it used to be
Speaker 6: once in a blue mood, you would see a ten
Speaker 6: thousand dollars price tag for total care of an animal
Speaker 6: having a serious health problem. That we're told is becoming
Speaker 6: increasingly common. And in fact, the people running the Pet
Speaker 6: Fund have seen bills that range as high as twenty
Speaker 6: thousand or thirty thousand.
Speaker 7: Right, we have in our story the largest insurance claim
Speaker 7: was it fifty thousand dollars for a dog that was
Speaker 7: run over in Brooklyn.
Speaker 1: And you mentioned insurance, which is another big component in
Speaker 1: this is that a lot of people, in order to
Speaker 1: pay for this, or in anticipation of having an illness
Speaker 1: that could cost a lot of money, are buying insurance.
Speaker 1: How does that work? How does pet insurance work?
Speaker 7: So there's you know, an annual premium and then the
Speaker 7: deductibles and then the out of pocket, and we actually
Speaker 7: have Bloomberg Intelligence doing some of the math coming up
Speaker 7: with an average number. So if a cancer treatment can
Speaker 7: cost eight thousand or ten thousand dollars, at the end
Speaker 7: of the year, the total expenses under insurance can be
Speaker 7: maybe twenty seven hundred. But there are a lot of
Speaker 7: people who do say that the premiums are very high.
Speaker 7: In Susan Gentiel's case, she said that her dog was
Speaker 7: too old at the point where she wants to get insurance,
Speaker 7: so it was too expensive. And in general, I think
Speaker 7: you know, the entire market is about three percent of
Speaker 7: pets are insured, so that actually opens things up for
Speaker 7: huge growth in that sector.
Speaker 6: So the thing about pet insurance is that you do
Speaker 6: want to go in with your eyes open. This is
Speaker 6: an industry that's bringing in about two point six billion
Speaker 6: dollars in annual premiums right now. That's up from a
Speaker 6: billion dollars in twenty seventeen. But if you look at
Speaker 6: the numbers, you know, it really depends on the individual
Speaker 6: case whether it's worth it. You know, the average for
Speaker 6: a dog if you want accident and illness coverage is
Speaker 6: almost six hundred dollars, and there are some people out
Speaker 6: there who say, you know, better to take that money,
Speaker 6: set it aside for future care for the animal and
Speaker 6: just pay with cash. Others obviously are deciding that they
Speaker 6: do want the coverage, but it'll come with a pretty
Speaker 6: high deductible and so they'll still have to pay out
Speaker 6: of pocket a fairly significant amount.
Speaker 1: Are we already starting to see elective procedures for pets,
Speaker 1: you know, cosmetic surgery, things that aren't purely medical but
Speaker 1: are just done to, I don't know, make your dog
Speaker 1: look better.
Speaker 6: Certainly, there's a lot of gray area, first of all.
Speaker 6: And then there is the world of what you might
Speaker 6: call plastic surgery for animals. It's kind of a famous example,
Speaker 6: which are called neuticles. These are testicular implants for dogs
Speaker 6: that you can buy if you have your dog neutered,
Speaker 6: but you kind of want to have them keep the
Speaker 6: pre operation. Look, there's a market for this, okay, and
Speaker 6: a pretty good one apparently. You know, this is a
Speaker 6: company that seems to be doing okay for itself. There's
Speaker 6: a famous example the actor Jake Jillenhall. He was on
Speaker 6: The Tonight Show and he said that he got a
Speaker 6: pair of neuticles for his German shepherd.
Speaker 1: You should get nuticles.
Speaker 5: Do you know what those are?
Speaker 7: I must know.
Speaker 1: I could guess maybe.
Speaker 5: But they're prosthetic testicles. Anyway, long story short, he has nuticles.
Speaker 7: This is not elective surgery, but it's in the realm
Speaker 7: of psychological costs. We found a lot of owners I
Speaker 7: spoke with put their pets on doggy Prozact because they
Speaker 7: had behavioral issues, anxiety, a lot of anxiety, and neighbors
Speaker 7: filed complaints. You know, some pretty difficult experiences that pet
Speaker 7: owners say is not talked about a lot. And so
Speaker 7: they had to put their dogs on prozac or put
Speaker 7: them into day care training, and so those costs can
Speaker 7: rise to almost as much as you know, a heart condition.
Speaker 1: We'll be right back gn We've been talking about how
Speaker 1: pet ownership and the amount of money people spend on
Speaker 1: their pets are going up. But there's also the opposite happening,
Speaker 1: which is a lot more people, especially who got a
Speaker 1: pet during the pandemic, are trying to return them or
Speaker 1: finding new homes because they just can't keep up.
Speaker 6: Yeah, you are starting to see that, and what you
Speaker 6: see in the data such as it is because again,
Speaker 6: you know, the data here is not quite as clean
Speaker 6: as with human activities. But if you look at numbers
Speaker 6: compiled by a group called Shelter Animals Count, you're certainly
Speaker 6: seeing an uptick in most states in what what are
Speaker 6: called pet surrenders compared with the early days of the pandemic.
Speaker 6: There's an important caveat there, though, which is that by
Speaker 6: and large those numbers are lower than they were in
Speaker 6: twenty nineteen, and so it's not quite right yet, at
Speaker 6: least to say that there's a bunch of people who
Speaker 6: ran out and got pets during the pandemic and now
Speaker 6: they just can't deal with them. Certainly, that description fits
Speaker 6: the case of some people. For many others, you know,
Speaker 6: I think that they're, you know, at least compared with
Speaker 6: pre pandemic levels, seem able to keep their pets at
Speaker 6: home and seem happy.
Speaker 7: And I think actually that's a really clear sign that
Speaker 7: pet owners are willing to go very far to keep
Speaker 7: their pets, even if for whatever reason it was, they
Speaker 7: might want to rehome their pets. You might have the
Speaker 7: numbers taking up from the start of the pandemic, but
Speaker 7: we're still not at twenty nineteen levels. You know, that
Speaker 7: trend toward humanization and doing whatever you can to make
Speaker 7: sure your pet is healthy and happy and stays with you.
Speaker 7: That I think will continue, and that's perhaps where this
Speaker 7: market will continue to head towards the half trillion target.
Speaker 6: That's right. In the short term, there is a bit
Speaker 6: of a question mark just from the economy. There's obviously
Speaker 6: a lot of economic uncertainty out there, and it is
Speaker 6: the case that when the economy worsens, there are more
Speaker 6: people who look to rehome their pets. Whether the economy
Speaker 6: will worsen to that extent, whether people will react with
Speaker 6: the same historical pattern, all that remains to be seen.
Speaker 6: But it's a big question mark. As we go through
Speaker 6: the rest of this year.
Speaker 7: We hear from the drug company saying that costs spent
Speaker 7: on healthcare are sticky, right, They're very recession resilient, and
Speaker 7: so people would decide to lower their costs in some
Speaker 7: other area a cheaper car or fewer clothes sooner than
Speaker 7: actually taking away bending on a pet.
Speaker 1: As you're reporting on this boom industry that, as you describe,
Speaker 1: is only going to get bigger and bigger, what are
Speaker 1: you looking for? What are the trends down the road
Speaker 1: that you're keeping your eye on.
Speaker 7: I'm interested in how human health is trickling down into
Speaker 7: pet health, especially because it takes a lot shorter to
Speaker 7: go through the approval process FDA approval process to get
Speaker 7: a new drug for a pet, and so eventually we
Speaker 7: might see innovation first hitting the pet market before the
Speaker 7: human market.
Speaker 6: Yeah, there's a lot of research out there on dog
Speaker 6: aging for a number of reasons, one of which is
Speaker 6: that dogs have shorter lifespans, and so a human researcher
Speaker 6: can track multiple generations of dogs over the course of
Speaker 6: a career. There's something called the Dog Aging Project, which
Speaker 6: is based out of the University of Washington and Texas
Speaker 6: A and M University. It's got forty four thousand dogs enrolled,
Speaker 6: where the dog owners fill out questionnaires keep track of
Speaker 6: their pets health and behavior. The hope is that over
Speaker 6: time they start to generate insights into how dogs age,
Speaker 6: which genes age the best. It's even conceivable that there
Speaker 6: could be some insights from that project coming into human health,
Speaker 6: and you know, there's startups out there with plans to
Speaker 6: do something similar. You could see a number of so
Speaker 6: called anti aging drugs on the market within three four
Speaker 6: years potentially, So that's definitely one thing to watch. Another
Speaker 6: thing that I keep my eye on is whether the
Speaker 6: assumption that people will keep accepting higher prices in fact
Speaker 6: turns out to be right. There's a lot of money
Speaker 6: behind these industries, right Like Mars Incorporated, the candy bar
Speaker 6: Company is one of the big investors in veterinary services.
Speaker 6: And the bet there is that humanization trend rising incomes
Speaker 6: greater supply of pricier options for pet care. You know,
Speaker 6: the bet is that those will all come and give
Speaker 6: this very robust annual average growth over the next five, seven,
Speaker 6: ten years. But there's a lot that could go wrong too,
Speaker 6: you know. It could be that people you know, just
Speaker 6: can't hack it, particularly in the middle or lower income levels.
Speaker 6: Could be that demand isn't quite where they're expecting it
Speaker 6: to be. But right now, the people putting money at
Speaker 6: risk here definitely expecting these numbers to keep rising pretty
Speaker 6: quickly in terms of spending.
Speaker 1: And I think it's important for our listeners to know
Speaker 1: your bias dog or cat.
Speaker 6: Cat. My wife and my kids know that more of
Speaker 6: a cat person, but we do have two cats and
Speaker 6: two dogs. Our house is a bit of a zoo
Speaker 6: and we love them all.
Speaker 7: And Naka I grew up with a dog and it
Speaker 7: would have to be dog again.
Speaker 1: Knahok, Tan, Brendan Case, thanks so much for coming on
Speaker 1: the show.
Speaker 7: Thank you so much for having us, Thanks.
Speaker 6: For having us.
Speaker 1: Thanks to Rebecca Shasson, Katherine Fink, Sam Gebauer, and Vicky
Speaker 1: Ergolina for sharing their cat and dog stories. And thanks
Speaker 1: to you for listening to us. Here The Big Take.
Speaker 1: It's a daily podcast from Bloomberg and iHeartRadio. For more
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Speaker 1: Email us questions or comments to Big Take at Bloomberg
Speaker 1: dot net. The supervising producer of The Big Take is
Speaker 1: Vicky Ergalina. Our senior producer is Katherine Fink. Our producer
Speaker 1: is Rebecca Shasson. Our associate producer is Sam Gobauer. Philde
Speaker 1: Garcia is our engineer. Our original music was composed by
Speaker 1: Leo Sidrin. I'm Weskasova. We'll be back on Monday with
Speaker 1: another Big Take. Have a great weekend.