WEBVTT - Introducing: Bloomberg Hot Pursuit!

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<v Speaker 1>I'm Barry Ridolts, introducing you to a new podcast focused

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<v Speaker 1>entirely on cars. Every week, Matt Miller and Hannah Elliott

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<v Speaker 1>get together to talk about auto industry news, the cars

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<v Speaker 1>they're driving and reviewing, and anything else happening in the

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<v Speaker 1>worlds of automobiles. As a big car guy myself, you'll

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<v Speaker 1>hear me join them on an occasional episode now and then,

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<v Speaker 1>without further ado, let me introduce you to the latest

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<v Speaker 1>episode of Hot Pursuit.

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<v Speaker 2>I'm Matt Miller, I'm Hannah Elliott, and this is Hot Pursuit.

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<v Speaker 3>All right, we have a fantastic podcast for you today.

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<v Speaker 3>We're going to touch on Formula one, give you the

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<v Speaker 3>update on the.

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<v Speaker 4>Ferraris we were talking about last week.

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<v Speaker 3>But we also have a special guest, recurring guest, Barry Ridolts.

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<v Speaker 3>He is the host of Masters in Business, probably our

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<v Speaker 3>most popular podcast on the Bloomberg platform, and he has

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<v Speaker 3>a new podcast called At the Money.

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<v Speaker 1>At the Money ATM plus.

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<v Speaker 3>Obviously the founder of Ritholts Wealth Management, and he's a

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<v Speaker 3>contributor to Bloomberg a lot. So, Hannah, we're going to

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<v Speaker 3>talk about Formula one because you're preparing to go to

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<v Speaker 3>Las Vegas. We're also going to talk about hybrids. I

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<v Speaker 3>think they're the way forward. You think it's a band aid.

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<v Speaker 3>There's a lot more sort of econo boxes and grocery

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<v Speaker 3>getters that I think are really cool though in this space.

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<v Speaker 4>And then we're going to get to Audi's.

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<v Speaker 3>You just recently drove the SQ eight E Tron, that's correct,

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<v Speaker 3>and Barry has an R eight. The first car I

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<v Speaker 3>bought was an Audie and a for a Vant.

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<v Speaker 1>Those have become very collectible now and mine was a

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<v Speaker 1>two point five TDI which I loved with so stick shift, yes, obviously, yeah,

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<v Speaker 1>those have become desirable.

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<v Speaker 3>All right, Let's kick it off though with Formula one,

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<v Speaker 3>because I guess what you're getting ready.

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<v Speaker 4>To head out to Sin City and what do you expect.

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<v Speaker 2>It's going to be very interesting because when Formula one

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<v Speaker 2>in Liberty Media, which owns Formula one, entered into this

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<v Speaker 2>deal with the city of Las Vegas to host the race,

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<v Speaker 2>it seemed like a home run, like a match made

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<v Speaker 2>in heaven. I mean, it's Vegas, which of course is

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<v Speaker 2>sort of the party center of the world right now

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<v Speaker 2>and has a bunch of great professional sports team. We've

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<v Speaker 2>got hockey we've got NFL. We're gonna get some baseball.

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<v Speaker 4>The Bolagio win Resorts, the Sphere.

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<v Speaker 2>Oh, let's not forget the Sphere. There's so much there.

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<v Speaker 2>And the food's great, you know all.

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<v Speaker 5>Of this stuff.

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<v Speaker 2>There's Jean George restaurants. But the thing is, and you know,

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<v Speaker 2>Formula one's been doing great in the US, but in

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<v Speaker 2>the past month or so, it's been really weird because

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<v Speaker 2>ticket prices have been dropping, both ticket prices for general

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<v Speaker 2>entry into the Grand Prix hotel room rates have been dropping,

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<v Speaker 2>and it's kind of creating this feeling that maybe Vegas

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<v Speaker 2>bit off more than it can chew. It's possible organizers

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<v Speaker 2>sort of got a little bit too greedy with how

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<v Speaker 2>they price things, and people are just not having it.

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<v Speaker 4>That's crazy.

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<v Speaker 3>So if I decided, you know what, I am gonna

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<v Speaker 3>go see Formula on this weekend and skip the birth

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<v Speaker 3>of my second daughter, you think I could get tickets.

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<v Speaker 2>You'd have no problem getting tickets. Now, I will say,

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<v Speaker 2>you might pay like six or seven hundred dollars a

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<v Speaker 2>night for a hotel room at like the Venetian, but

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<v Speaker 2>that's pretty typical and it's actually far less than you

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<v Speaker 2>would have paid had you tried to get a room

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<v Speaker 2>a month ago or two months ago. So this is

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<v Speaker 2>an expensive sport and an expensive city, but compared to

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<v Speaker 2>what prices were listed at a month or two months ago,

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<v Speaker 2>you're gonna get a deal. And there's plenty of tickets

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<v Speaker 2>to go around. There are plenty of flights from La

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<v Speaker 2>to Vegas.

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<v Speaker 4>So Barry, would you when you go?

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<v Speaker 1>You know, the problem with Formula one is you know,

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<v Speaker 1>you're in a corner, you're watching the cars go by.

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<v Speaker 1>It's not I know, it's very visceral and very exciting

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<v Speaker 1>feeling moments.

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<v Speaker 4>That's the best part.

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<v Speaker 1>But then you're there for another four hours and it's

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<v Speaker 1>a sport that's so great on television. It's very comfortable.

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<v Speaker 1>You really can see stuff. Everyone should go do it once.

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<v Speaker 1>I don't know if I need to do this in Vegas.

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<v Speaker 1>And the thing I'm wondering about how much of this

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<v Speaker 1>is specific to Las Vegas and how much of this

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<v Speaker 1>is just Hey, the economy is moving along, inflation is

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<v Speaker 1>coming down, but we're starting to slow down. When you

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<v Speaker 1>look at what's going on with auction prices of used cars.

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<v Speaker 1>Nine to eleven's ferraris whatever or even watches everything seems

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<v Speaker 1>that had round up in twenty and twenty one and

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<v Speaker 1>twenty two. It's all softening. I wonder if this is

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<v Speaker 1>a broader macro concern.

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<v Speaker 2>I think that's a really interesting point. And we talked

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<v Speaker 2>about this Ferrari last week, this Ferrari two to fifty

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<v Speaker 2>gto that was going to go on sale. And to

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<v Speaker 2>your point, Barry, yes, it's sold this week for almost

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<v Speaker 2>fifty two million dollars, but that was actually far less

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<v Speaker 2>than arms Sotheby's had hoped to get for the car,

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<v Speaker 2>and they were saying, you know, in excess of sixty million.

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<v Speaker 2>The hammer price on that before I was actually forty seven. So, yes,

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<v Speaker 2>this is a very expensive car, but relative to where

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<v Speaker 2>it was supposed to be quote unquote, it's really down.

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<v Speaker 2>And to your point, very I think this Yolo economy

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<v Speaker 2>is over.

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<v Speaker 3>Yeah, we saw this week Bloomberg put out a story

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<v Speaker 3>prices for Rolex and Pateech Philippe watches. You know, the

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<v Speaker 3>ultra luxury super high end watches on the Bloomberg subdial

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<v Speaker 3>index have come crashing down. They were off one point

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<v Speaker 3>eight percent last month to the lowest level since twenty

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<v Speaker 3>twenty one. Do you think that's the problem with F

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<v Speaker 3>one or is the sport to boring? The engines aren't

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<v Speaker 3>big enough, No one passes.

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<v Speaker 2>Here's a problem, Max Verstappan, that's a problem. He wins

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<v Speaker 2>all the time, He's already clinched the title. He's won

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<v Speaker 2>like seventeen of last twenty races. It's pretty predictable at

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<v Speaker 2>this point. Even second place is pretty predictable. And the

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<v Speaker 2>other thing to Barry's point about the TV view, this

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<v Speaker 2>race starts at ten pm Pacific time, which means you're

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<v Speaker 2>gonna have to be a diehard.

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<v Speaker 4>Fan whoa watch it. It really is one in the

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<v Speaker 4>morning East Coast time.

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<v Speaker 2>I did not many people who are going to be

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<v Speaker 2>up at one am in New York.

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<v Speaker 5>I don't think to watch this race.

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<v Speaker 1>You can always watch it the next day on the replay.

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<v Speaker 4>Yeah.

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<v Speaker 3>I mean, I'm a huge fan of Moto GP, as

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<v Speaker 3>you know, because it's a far better sport. I mean,

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<v Speaker 3>there's a lot of passing, there's a lot more strategy,

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<v Speaker 3>you have tons of different winners, and I just have

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<v Speaker 3>a subscription to MotoGP dot com and then I watch

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<v Speaker 3>it after the race is over because it was inevitably

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<v Speaker 3>in Indonesia, and then it doesn't come on until you know,

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<v Speaker 3>like eight in the morning on a Sunday.

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<v Speaker 4>I'm not up at that point.

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<v Speaker 3>I think it could be a bunch of different factors

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<v Speaker 3>from an economy that's slowing down to max for staff

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<v Speaker 3>and winning every time. But are we still going to

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<v Speaker 3>see like is Brad Pitt gonna go? Is like Puff

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<v Speaker 3>Daddy gonna go? You know? Are all the celebrities gonna

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<v Speaker 3>be there and having like fifteen thousand dollars dinners?

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<v Speaker 2>Yes?

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<v Speaker 5>I think so, maybe more interesting.

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<v Speaker 2>Than Brad Pitt. David Beckham will be there. I don't

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<v Speaker 2>know if you've seen the latest.

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<v Speaker 5>Beckham nothing more. Yeah, I thought it was so good.

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<v Speaker 2>I mean I'm a big Victoria Beckham fan after that.

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<v Speaker 2>But yeah, Shack will be there, There will be celebrities there.

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<v Speaker 2>It's going to be fun no matter what. How can

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<v Speaker 2>you not have fun in Las Vegas? And I will

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<v Speaker 2>say organizers are saying that they're expecting record revenue regardless

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<v Speaker 2>of anything. They're on track to quote unquote sell out

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<v Speaker 2>of tickets. This is what they're telling us. So it's

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<v Speaker 2>still going to be great. It's going to be great fun.

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<v Speaker 2>Anyone who's going should really pack their coats though it's

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<v Speaker 2>going to be pretty.

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<v Speaker 1>Cold in Las Vegas.

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<v Speaker 5>Ten o'clock in the desert in November is cold, true desert.

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<v Speaker 4>Yeah. Yeah. If you go to Vegas and you can't

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<v Speaker 4>have fun, you're not doing it.

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<v Speaker 2>Right.

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<v Speaker 4>Do you like Vegas? Berry?

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<v Speaker 1>No, I can't stand it.

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<v Speaker 3>But I mean for a couple nights with ye if

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<v Speaker 3>I have.

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<v Speaker 1>To this great restaurants, is great shows, but not my

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<v Speaker 1>first choice of destination. When they finally nuke that part

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<v Speaker 1>of Nevada, you know, in the whole area is just

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<v Speaker 1>silicon glass, It'll be fine.

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<v Speaker 4>I went to Lamborghini driving school there.

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<v Speaker 1>That's a different story. Was you know you can you

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<v Speaker 1>can rent a World War two spitfire and go up

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<v Speaker 1>with a pilot.

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<v Speaker 4>That's worth doing.

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<v Speaker 1>And Vegas is the only place that I'll let you

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<v Speaker 1>sign off and say sure, I'll take my life in

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<v Speaker 1>my hands in a.

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<v Speaker 4>Eighty year old World War two plane. Let's go.

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<v Speaker 3>I'd like, you can't do that anywhere in the desert, right, Vegas?

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<v Speaker 1>Sign up?

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<v Speaker 5>Vegas? That all counts as Vegas. Though, Yeah, I guess

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<v Speaker 5>this is a lot more than just the strip.

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<v Speaker 4>I mean totally agree.

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<v Speaker 2>Driving out to the Hoover Dams really cool, and I

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<v Speaker 2>do think sort of dusty hotels where Elvis played and

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<v Speaker 2>Sinatra are really cool.

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<v Speaker 5>There's amazing off roading out there. All of that.

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<v Speaker 2>To me, it counts as a quote unquote Vegas when

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<v Speaker 2>I go, oh, there's fabulous shopping to.

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<v Speaker 4>A right change.

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<v Speaker 3>I don't go to casinos at all. I don't hang

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<v Speaker 3>out on the strip. I don't gamble.

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<v Speaker 1>That's the part of Vegas. I hate everything around that

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<v Speaker 1>is really interesting.

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<v Speaker 3>Yeah, you want to wake up married to somebody you

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<v Speaker 3>have no idea her last name.

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<v Speaker 4>You know, apologies to my wife.

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<v Speaker 1>Your pregnant wife. You're very pregnant.

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<v Speaker 3>Let's move on to well and her favorite car is

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<v Speaker 3>the Volvo XC ninety T eight, which is a hybrid.

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<v Speaker 3>You know, you can go twenty miles or more on

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<v Speaker 3>the battery alone, and so for doing things around town,

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<v Speaker 3>dropping kids off at school, going to the grocery store

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<v Speaker 3>no problem, and then you can go on longer trips

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<v Speaker 3>because it has a gas engine that kicks in. It's

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<v Speaker 3>beautiful design. I have to agree with her on.

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<v Speaker 1>That, especially that interior.

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<v Speaker 3>And Barry, you sent me and Hannah an email this

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<v Speaker 3>morning about a Toyota Camry that's only going to be

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<v Speaker 3>so right.

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<v Speaker 1>Right, they're giving up the gas. Only listen. The crazy

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<v Speaker 1>thing about Toyota is they have this massive lead in

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<v Speaker 1>hybrid technology, and you were waiting for what they're going

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<v Speaker 1>to do next. Then you know they kind of let

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<v Speaker 1>Tesla eat their lunch. But what Toyota is telling us

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<v Speaker 1>is the immediate future, the next decade is going to

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<v Speaker 1>be hybrid.

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<v Speaker 3>And obviously Tesla doesn't have any hybrid vehicles.

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<v Speaker 4>They're fully electric.

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<v Speaker 3>That annoys me because I can never find a place

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<v Speaker 3>to charge and I like to have a little Moto vibes. Hannah,

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<v Speaker 3>you don't think that hybrids are the way forward though.

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<v Speaker 2>I am not a fan of hybrids, just because I

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<v Speaker 2>tend to be a purist. I want to go all in,

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<v Speaker 2>all or nothing, and I love the of course, the

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<v Speaker 2>quick performance of electric vehicles, and I love my own.

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<v Speaker 5>Personal internal combustion cars.

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<v Speaker 2>So hybrids have always seemed to me to just be

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<v Speaker 2>like halfway but nowhere anywhere.

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<v Speaker 5>Who cares?

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<v Speaker 2>If you know, Toyota was making a Prius because also

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<v Speaker 2>BMW was making the I eight, and.

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<v Speaker 4>Well, I love the I eight, dude.

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<v Speaker 3>The I eight and the I three to me were

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<v Speaker 3>when I first understood why it's cool to have a

0:10:50.600 --> 0:10:54.480
<v Speaker 3>range extender motor right because they were fully electric vehicles,

0:10:54.640 --> 0:10:56.280
<v Speaker 3>but they just had a little I think it was

0:10:56.280 --> 0:10:59.880
<v Speaker 3>a one three three cylinder as like a utility pack.

0:11:00.120 --> 0:11:03.640
<v Speaker 3>It's like bringing along a backpack. It's like being a prepper.

0:11:03.840 --> 0:11:06.520
<v Speaker 3>You know, you always have an option if you need it.

0:11:06.640 --> 0:11:11.040
<v Speaker 1>My wife's Panama Hybrid. We drove to Connecticut this weekend.

0:11:11.400 --> 0:11:14.600
<v Speaker 1>We got nearly forty miles a gallon on the way there.

0:11:15.000 --> 0:11:18.680
<v Speaker 1>We exhausted most of the electric for that range, but

0:11:18.760 --> 0:11:21.240
<v Speaker 1>when you drop your right foot, you still have over

0:11:21.320 --> 0:11:24.920
<v Speaker 1>five hundred horse power, and that car really goes when

0:11:24.960 --> 0:11:27.920
<v Speaker 1>you wanted to go. So to me, it's the best

0:11:27.920 --> 0:11:30.640
<v Speaker 1>of both worlds. Almost forty miles a gallon on one

0:11:30.720 --> 0:11:34.360
<v Speaker 1>hundred mile trip into the woods in Connecticut, and somewhat

0:11:34.400 --> 0:11:36.320
<v Speaker 1>less on the way home without any electric.

0:11:36.400 --> 0:11:39.040
<v Speaker 3>You know, I always say there's no replacement for displacement,

0:11:39.120 --> 0:11:43.520
<v Speaker 3>but I think batteries might be that replacement. I'm driving

0:11:43.600 --> 0:11:48.439
<v Speaker 3>right now a Kia Sorrento PHV. And aside from all

0:11:48.480 --> 0:11:50.320
<v Speaker 3>the other stuff that's impressive about it, and there's a

0:11:50.320 --> 0:11:52.760
<v Speaker 3>ton of stuff, it's got a locking center diff it's

0:11:52.760 --> 0:11:54.920
<v Speaker 3>got this really cool technology where when you put your

0:11:54.920 --> 0:11:57.880
<v Speaker 3>turn signal on in your center display, you can see

0:11:57.960 --> 0:11:59.439
<v Speaker 3>your blind spot, and in.

0:11:59.440 --> 0:12:02.240
<v Speaker 1>Fact, all of the Hyundai Kias do that. You signal

0:12:02.320 --> 0:12:04.760
<v Speaker 1>right and it shows up in your tyme, and you

0:12:04.840 --> 0:12:07.360
<v Speaker 1>signal left and it shows up in your left dial.

0:12:07.720 --> 0:12:10.440
<v Speaker 1>That should be a standard technology across the whole.

0:12:10.200 --> 0:12:12.079
<v Speaker 5>Industry and any luxury automotive.

0:12:12.120 --> 0:12:14.360
<v Speaker 4>Okay, well, but for Akia, I think it's really cool.

0:12:14.400 --> 0:12:14.839
<v Speaker 4>I mean, for.

0:12:14.800 --> 0:12:18.880
<v Speaker 3>Akia, it's got torque vectoring, all wheel drive. That's not

0:12:18.960 --> 0:12:21.640
<v Speaker 3>something you expect when you're buying a Korean car. But

0:12:21.760 --> 0:12:24.480
<v Speaker 3>I thought the engine was more substantial than it was

0:12:24.520 --> 0:12:25.640
<v Speaker 3>when I first started driving it.

0:12:25.679 --> 0:12:26.760
<v Speaker 4>I hadn't read the specs.

0:12:27.120 --> 0:12:29.400
<v Speaker 3>I popped open the hood and I saw it's got

0:12:29.400 --> 0:12:33.360
<v Speaker 3>a one point six leader in line four. Like that's

0:12:33.600 --> 0:12:36.240
<v Speaker 3>a tiny little motor, but it still has two hundred

0:12:36.240 --> 0:12:38.760
<v Speaker 3>and sixty horse power two hundred and sixty pound feet

0:12:38.760 --> 0:12:41.600
<v Speaker 3>of torque for you know, fifty thousand dollars for the

0:12:41.640 --> 0:12:45.439
<v Speaker 3>fully loaded, like most luxurious addition, that's pretty peppy.

0:12:45.600 --> 0:12:48.120
<v Speaker 1>It's a lot of truck for the money. And look

0:12:48.160 --> 0:12:51.480
<v Speaker 1>the way every one of these new manufacturers that are

0:12:51.520 --> 0:12:55.760
<v Speaker 1>trying to gain traction or expand their footprint find an

0:12:55.760 --> 0:12:58.640
<v Speaker 1>audience is by offering a lot of value for the money.

0:12:58.840 --> 0:13:02.240
<v Speaker 1>Think back to the way did this forty years ago,

0:13:02.360 --> 0:13:04.240
<v Speaker 1>or the way Toyota did it sixty years ago.

0:13:04.480 --> 0:13:07.120
<v Speaker 3>So, Hannah, do you ever drive like a Kia? Because

0:13:07.120 --> 0:13:10.000
<v Speaker 3>I always think, you know, you're the one who's constantly

0:13:10.040 --> 0:13:12.120
<v Speaker 3>in a culin in, But do you ever drive like

0:13:12.160 --> 0:13:12.839
<v Speaker 3>a Korean car?

0:13:13.040 --> 0:13:13.680
<v Speaker 5>This is true.

0:13:13.840 --> 0:13:17.280
<v Speaker 2>Typically no, I will openly say we do not cover

0:13:17.559 --> 0:13:22.560
<v Speaker 2>typically Kia at Bloomberg Pursuits. However, I did recently drive

0:13:22.600 --> 0:13:26.000
<v Speaker 2>the Kia EV nine, which is their big electric.

0:13:25.679 --> 0:13:26.600
<v Speaker 3>Suv I want to try.

0:13:27.160 --> 0:13:28.960
<v Speaker 5>I really really liked it.

0:13:29.000 --> 0:13:32.120
<v Speaker 2>I was surprised at how beautiful and well thought out

0:13:32.160 --> 0:13:35.760
<v Speaker 2>it was. I actually really would love to go visit

0:13:36.200 --> 0:13:38.400
<v Speaker 2>the factory in South Korea. I'm going to try to

0:13:38.440 --> 0:13:40.960
<v Speaker 2>do that next year because Kia is really making a

0:13:41.000 --> 0:13:44.920
<v Speaker 2>play to elevate themselves so that they could potentially have

0:13:45.000 --> 0:13:49.080
<v Speaker 2>shoppers cross shopping between like Volvo or a land Rover

0:13:49.600 --> 0:13:54.000
<v Speaker 2>into Kia or even Audi. And I don't think that's

0:13:54.240 --> 0:13:57.520
<v Speaker 2>out of the question based on what I've seen. We

0:13:57.640 --> 0:13:59.760
<v Speaker 2>joke about it, like, typically I wouldn't cover it, but

0:14:00.320 --> 0:14:03.840
<v Speaker 2>the limited amount of Kiya products that I have seen

0:14:03.880 --> 0:14:07.040
<v Speaker 2>and driven I actually am pretty impressed by And let's

0:14:07.080 --> 0:14:10.160
<v Speaker 2>not forget this is a company that also makes Genesis.

0:14:09.800 --> 0:14:12.640
<v Speaker 1>Is about to bring that up. Kia is owned by Hondi.

0:14:13.000 --> 0:14:16.320
<v Speaker 1>Genesis is their version of Lexus versus Tyota doing.

0:14:16.480 --> 0:14:17.480
<v Speaker 5>They know what they're doing.

0:14:17.640 --> 0:14:20.240
<v Speaker 2>One question, though, do you read the new Kia logo

0:14:20.360 --> 0:14:21.440
<v Speaker 2>as nine inch nails?

0:14:21.560 --> 0:14:24.120
<v Speaker 4>I love. I love the way it reminds me of

0:14:24.200 --> 0:14:26.720
<v Speaker 4>nine inch nails. That's hilarious. I'm on board with that.

0:14:26.800 --> 0:14:28.680
<v Speaker 3>And I, by the way, I think that the new

0:14:28.760 --> 0:14:32.240
<v Speaker 3>logo really helped them transition their brand a little bit

0:14:32.320 --> 0:14:37.200
<v Speaker 3>from being kind of a bargain basement, you know, Korean econobox,

0:14:37.640 --> 0:14:39.000
<v Speaker 3>to being something that.

0:14:39.160 --> 0:14:41.480
<v Speaker 4>People really would cross shop with. A Range Rover.

0:14:41.560 --> 0:14:44.240
<v Speaker 3>I mean, the tail you ride is a beautiful car.

0:14:44.480 --> 0:14:47.720
<v Speaker 3>I don't love the powertrain, but the logo I think

0:14:47.960 --> 0:14:50.040
<v Speaker 3>helps a lot. It looks really cool.

0:14:50.240 --> 0:14:50.800
<v Speaker 5>I agree.

0:14:51.240 --> 0:14:55.440
<v Speaker 2>I'm with you about it's an attitude of beautiful hospitality.

0:14:55.720 --> 0:14:57.600
<v Speaker 2>And I know that sounds like a PR line, but

0:14:58.080 --> 0:15:00.800
<v Speaker 2>it actually is true that some of their vehicles really

0:15:00.840 --> 0:15:03.680
<v Speaker 2>have this beautiful sense of a welcome environment.

0:15:03.760 --> 0:15:05.400
<v Speaker 3>We should throw in a V eight once in a while.

0:15:05.480 --> 0:15:06.880
<v Speaker 3>They need to make a big halo car.

0:15:07.040 --> 0:15:09.280
<v Speaker 1>There are no more V eights coming out, and they're

0:15:09.320 --> 0:15:11.080
<v Speaker 1>certainly coming out of Asia.

0:15:10.880 --> 0:15:11.760
<v Speaker 4>For mass production.

0:15:11.960 --> 0:15:13.720
<v Speaker 3>I just think they need to make a halo car

0:15:13.840 --> 0:15:16.400
<v Speaker 3>so that people can then feel okay buying the lower

0:15:16.520 --> 0:15:17.760
<v Speaker 3>end models.

0:15:18.120 --> 0:15:21.000
<v Speaker 1>That is so old school marketing. That's just not how

0:15:21.040 --> 0:15:23.520
<v Speaker 1>it's done. We're gonna give you a lot of car

0:15:23.680 --> 0:15:26.920
<v Speaker 1>or truck for the money. Yes, it's only a V six.

0:15:27.040 --> 0:15:27.960
<v Speaker 4>But you can tow.

0:15:28.080 --> 0:15:30.600
<v Speaker 1>You could stick six people in the car, you could

0:15:30.640 --> 0:15:32.600
<v Speaker 1>load it up with luggage, and it's not going to

0:15:32.640 --> 0:15:34.840
<v Speaker 1>cloas you an arm and a leg. That's the value

0:15:34.880 --> 0:15:39.720
<v Speaker 1>proposition for these cars versus the cars that we really

0:15:40.080 --> 0:15:43.080
<v Speaker 1>have grown up loving, the BMW's, the Mercedes, the much

0:15:43.080 --> 0:15:44.520
<v Speaker 1>bigger and more expensive cars.

0:15:44.560 --> 0:15:46.800
<v Speaker 3>Okay, I'm just saying like, if Audi had never made

0:15:46.840 --> 0:15:50.040
<v Speaker 3>the quatro and one races with it, if they had

0:15:50.080 --> 0:15:53.520
<v Speaker 3>never made the R eight that everybody drools over in

0:15:53.640 --> 0:15:56.680
<v Speaker 3>fifty shades of Gray, I don't know that we'd be buying,

0:15:56.800 --> 0:15:57.280
<v Speaker 3>you know, the.

0:15:57.320 --> 0:15:59.240
<v Speaker 4>Q three either.

0:15:59.440 --> 0:16:01.960
<v Speaker 3>And by the way, speaking of that, both of you

0:16:02.000 --> 0:16:05.320
<v Speaker 3>have a connection to Audi, because Hannah, you are test

0:16:05.440 --> 0:16:09.080
<v Speaker 3>driving some version of their e Tron bar. You of

0:16:09.080 --> 0:16:11.200
<v Speaker 3>course have the RA. But Hannah, first, tell us about

0:16:11.200 --> 0:16:12.360
<v Speaker 3>the ev that you drove.

0:16:12.800 --> 0:16:17.840
<v Speaker 2>Okay, so yesterday I drove the s Q eight e Tron,

0:16:18.200 --> 0:16:22.520
<v Speaker 2>which is basically it's sort of a higher performance version

0:16:22.600 --> 0:16:25.320
<v Speaker 2>of the Q eight, which is a five passenger suv.

0:16:25.400 --> 0:16:29.640
<v Speaker 2>It's all electric, starts at about ninety thousand dollars.

0:16:29.200 --> 0:16:30.440
<v Speaker 5>And it was beautiful.

0:16:30.560 --> 0:16:33.640
<v Speaker 2>The You know, Audi has been a little bit behind

0:16:33.680 --> 0:16:36.360
<v Speaker 2>when it comes to offering electric vehicles, and they're making

0:16:36.400 --> 0:16:38.240
<v Speaker 2>they're trying to make up for lost time, and so

0:16:38.440 --> 0:16:41.760
<v Speaker 2>anything with E Tron at the end is there electric offering.

0:16:42.080 --> 0:16:46.640
<v Speaker 2>The SQ eight, despite its confusing name, was really nice.

0:16:46.720 --> 0:16:51.120
<v Speaker 2>It was beautifully appointed inside, it was as quiet, actually

0:16:51.400 --> 0:16:55.080
<v Speaker 2>proven by Audi, as quiet as an a sedan, Really

0:16:55.320 --> 0:16:59.040
<v Speaker 2>nice balanced. It's heavy, it's like a six thousand pound suv,

0:16:59.240 --> 0:17:00.880
<v Speaker 2>so you do feel that a bit.

0:17:01.200 --> 0:17:04.080
<v Speaker 4>Some people like it heavy. Don't forget if you have.

0:17:04.040 --> 0:17:06.280
<v Speaker 5>To make a turn, there's no judgment.

0:17:06.400 --> 0:17:06.800
<v Speaker 2>I like it.

0:17:06.840 --> 0:17:08.119
<v Speaker 4>I like a big heavy cruiser.

0:17:08.280 --> 0:17:09.360
<v Speaker 5>We love that.

0:17:09.440 --> 0:17:13.360
<v Speaker 2>We love that, and this did feel really nicely insulated

0:17:13.480 --> 0:17:16.000
<v Speaker 2>and solid. And I actually have a friend who's been

0:17:16.000 --> 0:17:18.879
<v Speaker 2>looking for an electric suv, and I instantly message her

0:17:18.920 --> 0:17:20.320
<v Speaker 2>and said, I think you're really gonna love it.

0:17:20.520 --> 0:17:21.359
<v Speaker 1>A good looking truck.

0:17:21.640 --> 0:17:24.840
<v Speaker 3>I drove also the Q eight Etron, not the S version,

0:17:25.040 --> 0:17:27.879
<v Speaker 3>but I'll say that I was disappointed that they use

0:17:27.960 --> 0:17:30.840
<v Speaker 3>the Q eight Moniker because I think the Q eight

0:17:30.920 --> 0:17:33.159
<v Speaker 3>is one of the best designs Audi has come out

0:17:33.240 --> 0:17:33.879
<v Speaker 3>with in.

0:17:34.280 --> 0:17:35.360
<v Speaker 4>At least a decade.

0:17:35.760 --> 0:17:37.879
<v Speaker 3>It's a head turner whenever I see a real Q

0:17:38.040 --> 0:17:40.639
<v Speaker 3>eight on the road, and the e Tron version is

0:17:40.680 --> 0:17:43.080
<v Speaker 3>not a real Q eight, it doesn't look as cool.

0:17:43.440 --> 0:17:46.960
<v Speaker 3>It's more invisible, like you can easily overlook the Etron version,

0:17:47.200 --> 0:17:51.440
<v Speaker 3>whereas the full fat gas Q eight it's so hulking

0:17:51.960 --> 0:17:55.720
<v Speaker 3>and muscular that you can't overlook it. But it is

0:17:55.800 --> 0:17:58.240
<v Speaker 3>definitely solid. That's the word I would use for it,

0:17:58.320 --> 0:18:00.560
<v Speaker 3>Like it is a product that you feel like it's

0:18:00.640 --> 0:18:03.440
<v Speaker 3>over engineered and is not going to break down.

0:18:10.960 --> 0:18:12.520
<v Speaker 4>What do you think Bury about Audis.

0:18:12.560 --> 0:18:14.600
<v Speaker 3>I mean, you have obviously the Halo car, but what

0:18:14.640 --> 0:18:17.240
<v Speaker 3>do you think about the brand and the other vehicles.

0:18:17.520 --> 0:18:19.960
<v Speaker 4>You know, it's full time all wheel.

0:18:19.720 --> 0:18:22.200
<v Speaker 1>Drive, and if you're in the part of the country

0:18:22.240 --> 0:18:26.000
<v Speaker 1>where you're very much dealing with weather or you're off road,

0:18:26.920 --> 0:18:32.200
<v Speaker 1>they're great for that. They're notoriously expensive to repair, they're

0:18:32.280 --> 0:18:38.040
<v Speaker 1>not the lowest cost maintenance. Comparatively, you buy a Honda Toyota,

0:18:38.520 --> 0:18:41.440
<v Speaker 1>you put gas and occasionally oil into it, you're good

0:18:41.480 --> 0:18:45.439
<v Speaker 1>for a bajillion miles. Some the German cars tend to

0:18:45.480 --> 0:18:49.680
<v Speaker 1>be a little more finicky my experience with oudi's and BMW's,

0:18:49.760 --> 0:18:53.320
<v Speaker 1>you have to build a little bit of a repair buffer,

0:18:53.440 --> 0:18:56.520
<v Speaker 1>especially if you're looking for a thirty thousand mile car

0:18:56.600 --> 0:19:00.200
<v Speaker 1>like I know you're hunting for. They're not terrible, it's

0:19:00.240 --> 0:19:02.800
<v Speaker 1>not you know, you speak to people with you know,

0:19:03.400 --> 0:19:05.960
<v Speaker 1>British cars or even some of the older Ferraris and

0:19:06.359 --> 0:19:09.800
<v Speaker 1>you're writing big checks to your mechanic. But they're great cars.

0:19:09.800 --> 0:19:12.679
<v Speaker 1>They're well designed, they hold up well, and I know

0:19:12.800 --> 0:19:15.840
<v Speaker 1>lots of people who have Q five's with you know,

0:19:15.840 --> 0:19:17.320
<v Speaker 1>two hundred thousand miles on them.

0:19:17.400 --> 0:19:21.040
<v Speaker 2>Well, I think I have to say just a little bit.

0:19:21.119 --> 0:19:24.040
<v Speaker 2>I think that German engineering has a pretty good track

0:19:24.119 --> 0:19:27.080
<v Speaker 2>record for sure my ability, and it's a little unfair

0:19:27.119 --> 0:19:30.880
<v Speaker 2>to compare them to British and Italian engineering agreed.

0:19:31.040 --> 0:19:32.760
<v Speaker 3>I never had a problem. I had an Audi for

0:19:32.840 --> 0:19:34.520
<v Speaker 3>a long time, never had a problem with it.

0:19:34.760 --> 0:19:38.040
<v Speaker 4>If you have a repair, it'll cost me a long time.

0:19:38.080 --> 0:19:39.120
<v Speaker 4>Never had a problem with my.

0:19:39.280 --> 0:19:42.520
<v Speaker 1>Sl was bulletproof until you had to replace the coils.

0:19:42.520 --> 0:19:46.359
<v Speaker 1>You had to do something, and it's not an inexpensive repair.

0:19:46.480 --> 0:19:47.840
<v Speaker 4>I just brace yourself.

0:19:48.080 --> 0:19:51.800
<v Speaker 2>I'm sensing that Barry will always choose the practical option,

0:19:52.280 --> 0:19:55.080
<v Speaker 2>the very solid practical.

0:19:55.760 --> 0:19:57.600
<v Speaker 5>You know, you don't like THERA.

0:19:57.520 --> 0:20:02.600
<v Speaker 1>It's totally practical, like the six convertible manual, the most practical.

0:20:02.680 --> 0:20:04.000
<v Speaker 4>No, I don't think so, dude.

0:20:04.000 --> 0:20:06.000
<v Speaker 3>He has a C two and he bought a nine

0:20:06.040 --> 0:20:08.240
<v Speaker 3>to eleven that he sent to be converted into an EV.

0:20:08.720 --> 0:20:08.920
<v Speaker 4>Yeah.

0:20:08.920 --> 0:20:10.800
<v Speaker 1>So in the middle of that, that's a fun project.

0:20:10.840 --> 0:20:13.640
<v Speaker 1>These are not cheap cars there, but they are if

0:20:13.680 --> 0:20:17.240
<v Speaker 1>you're buying them twenty five years old. That's why I

0:20:17.520 --> 0:20:20.720
<v Speaker 1>say you have to have a reasonable repair.

0:20:20.840 --> 0:20:22.040
<v Speaker 4>Do you have to set aside a budget?

0:20:22.040 --> 0:20:26.120
<v Speaker 3>So I, by the way, I wanted as longtime listeners

0:20:26.200 --> 0:20:30.400
<v Speaker 3>will know, I really wanted to get BMW seven sixty

0:20:30.480 --> 0:20:34.120
<v Speaker 3>to replace my wife's Volvo, and she has basically said

0:20:34.119 --> 0:20:37.199
<v Speaker 3>no way, Jose, but she is willing to get an

0:20:37.440 --> 0:20:40.520
<v Speaker 3>X five and so I want them fifty with the

0:20:40.640 --> 0:20:44.080
<v Speaker 3>twin turbo V eight and the ZF transmission. I was

0:20:44.119 --> 0:20:47.080
<v Speaker 3>looking at Savage Geese on YouTube and they have a

0:20:47.119 --> 0:20:48.800
<v Speaker 3>review of it, and they were like, listen, if something

0:20:48.840 --> 0:20:52.280
<v Speaker 3>goes wrong with any of the air suspenders on each corner,

0:20:52.320 --> 0:20:53.359
<v Speaker 3>eighteen hundred dollars.

0:20:53.440 --> 0:20:55.200
<v Speaker 1>That happened with my brother, and it was much more

0:20:55.240 --> 0:20:56.480
<v Speaker 1>than that his seventh six.

0:20:56.600 --> 0:20:59.520
<v Speaker 3>If something goes wrong with the transmission, you know you're

0:20:59.520 --> 0:21:02.600
<v Speaker 3>looking at five thousand dollars repair. If something goes wrong

0:21:02.640 --> 0:21:06.840
<v Speaker 3>with the engine, obviously rebuild, but they're not cheap to fix.

0:21:06.920 --> 0:21:08.960
<v Speaker 3>So if you're buying a used one, the guy from

0:21:09.000 --> 0:21:11.560
<v Speaker 3>Savage Geese said, set aside ten thousand dollars.

0:21:11.640 --> 0:21:12.600
<v Speaker 1>That's exactly right.

0:21:12.680 --> 0:21:15.600
<v Speaker 3>I'll buy yourself a more substantial extended word.

0:21:15.680 --> 0:21:16.320
<v Speaker 4>Now, now that.

0:21:16.359 --> 0:21:18.919
<v Speaker 1>Said, I've had two Series, I've had three Series. I've

0:21:18.920 --> 0:21:24.719
<v Speaker 1>had Next four bulletproof, never need repairs, absolutely spectacular cars.

0:21:25.080 --> 0:21:29.560
<v Speaker 1>But for example, I had a fuel injection issue with

0:21:29.600 --> 0:21:33.440
<v Speaker 1>them six that kept getting an idiot light. It would

0:21:33.440 --> 0:21:36.560
<v Speaker 1>reset itself, and it was a one of those quirky

0:21:36.640 --> 0:21:39.919
<v Speaker 1>little things that were hard to pin down. Ultimately it

0:21:40.000 --> 0:21:42.679
<v Speaker 1>was BMW who figured out what it was not a

0:21:42.760 --> 0:21:45.119
<v Speaker 1>cheap repair. Very well, that was my only repair I've

0:21:45.119 --> 0:21:46.440
<v Speaker 1>had on that car in ten years.

0:21:46.480 --> 0:21:49.000
<v Speaker 3>What was And I want to know from Hannah to

0:21:49.240 --> 0:21:51.520
<v Speaker 3>what was the first car you ever bought with your

0:21:51.520 --> 0:21:52.040
<v Speaker 3>own money?

0:21:52.200 --> 0:21:56.000
<v Speaker 1>A Chrysler nineteen sixty seven Chrysler three hundred cost me

0:21:56.040 --> 0:21:58.920
<v Speaker 1>one hundred bucks from my uncle. Had it for about

0:21:58.960 --> 0:22:02.840
<v Speaker 1>a month. My mom told nice, three hundred trip the

0:22:02.880 --> 0:22:05.520
<v Speaker 1>tires at any speed you're doing fifty miles an hour,

0:22:05.600 --> 0:22:06.359
<v Speaker 1>step on the gas.

0:22:06.760 --> 0:22:09.520
<v Speaker 3>And they've just come out with the last year of

0:22:09.520 --> 0:22:12.040
<v Speaker 3>the Chrysler three hundred. See with a six point four

0:22:12.160 --> 0:22:14.080
<v Speaker 3>liter Hemi in it, which I'm pretty excited.

0:22:14.240 --> 0:22:15.640
<v Speaker 1>End of the Hemi line drive.

0:22:15.760 --> 0:22:18.240
<v Speaker 4>Hannah, what was the first car you ever bought?

0:22:18.480 --> 0:22:22.320
<v Speaker 2>That was a sixty nine Buke Skylark that I paid

0:22:22.480 --> 0:22:23.679
<v Speaker 2>also one hundred dollars for.

0:22:23.760 --> 0:22:24.879
<v Speaker 5>I split it with my sister.

0:22:25.119 --> 0:22:27.600
<v Speaker 2>We bought it but a church lady who charged us

0:22:27.600 --> 0:22:30.840
<v Speaker 2>two hundred dollars and I was deeply embarrassed of it

0:22:30.880 --> 0:22:33.480
<v Speaker 2>and sold my half to my sister as quickly as

0:22:33.520 --> 0:22:33.719
<v Speaker 2>I can.

0:22:33.880 --> 0:22:34.080
<v Speaker 1>No.

0:22:34.480 --> 0:22:35.919
<v Speaker 4>Yep, but what a cool car.

0:22:36.680 --> 0:22:40.840
<v Speaker 2>Absolutely cool. She was far more advanced think in her

0:22:40.880 --> 0:22:43.400
<v Speaker 2>thinking about design and history than I was at the time.

0:22:43.480 --> 0:22:46.200
<v Speaker 2>I was so embarrassed of that car, but she loved it.

0:22:46.400 --> 0:22:48.920
<v Speaker 4>I think it's I just googled it. Look at this ferry.

0:22:49.040 --> 0:22:54.320
<v Speaker 2>What a cool car, green black interior, you know, beautiful steering.

0:22:54.119 --> 0:22:57.520
<v Speaker 1>Not the highlight of American automobile manufacturer.

0:22:57.640 --> 0:22:59.400
<v Speaker 4>I think it's awesome. I would like to have one

0:22:59.400 --> 0:22:59.720
<v Speaker 4>of those.

0:22:59.760 --> 0:23:04.840
<v Speaker 3>Tam my first car ever, because my dear late grandmother

0:23:04.880 --> 0:23:07.520
<v Speaker 3>bless her Soul, gave me ten thousand dollars when I

0:23:07.560 --> 0:23:10.200
<v Speaker 3>graduated from college and I put it on a down

0:23:10.240 --> 0:23:14.360
<v Speaker 3>payment for an auty A four Avauant in the year

0:23:14.359 --> 0:23:17.080
<v Speaker 3>two thousand. I was living in Frankfurt at the time,

0:23:17.160 --> 0:23:18.760
<v Speaker 3>so I got to drive it on the Autobahn.

0:23:19.160 --> 0:23:20.119
<v Speaker 4>It had a two.

0:23:20.000 --> 0:23:22.080
<v Speaker 3>Point five liter TDI, so it's diesel, but it had

0:23:22.119 --> 0:23:24.200
<v Speaker 3>one hundred and eighty horse power and it's pretty.

0:23:23.960 --> 0:23:26.479
<v Speaker 4>Light, so it really got moving.

0:23:26.560 --> 0:23:29.439
<v Speaker 3>I could do like two top speed twot twenty in

0:23:29.520 --> 0:23:32.480
<v Speaker 3>kilometers per hour, so that's like one hundred and thirty

0:23:32.640 --> 0:23:33.440
<v Speaker 3>miles per hour.

0:23:34.040 --> 0:23:34.800
<v Speaker 4>And I did that.

0:23:36.600 --> 0:23:36.719
<v Speaker 2>Well.

0:23:36.760 --> 0:23:39.320
<v Speaker 4>I was a little older, I was like twenty five, and.

0:23:39.320 --> 0:23:42.480
<v Speaker 1>Those diesels run forever. Also, those are three hundred thousand

0:23:42.520 --> 0:23:43.080
<v Speaker 1>mile cars.

0:23:43.280 --> 0:23:45.119
<v Speaker 4>Yeah, that was a great, great vehicle.

0:23:45.160 --> 0:23:46.000
<v Speaker 5>What happened to that car?

0:23:46.080 --> 0:23:48.000
<v Speaker 3>Mat I had to sell it when I moved to

0:23:48.200 --> 0:23:51.240
<v Speaker 3>London a few years later because of the you know,

0:23:51.240 --> 0:23:53.120
<v Speaker 3>because the British drive on the wrong side of the road,

0:23:53.160 --> 0:23:55.480
<v Speaker 3>so it wouldn't have made sense. And also I think

0:23:55.520 --> 0:23:57.680
<v Speaker 3>I was broke after a few years and leaded the

0:23:57.720 --> 0:24:03.240
<v Speaker 3>money that does it for this episode, Barry, thank you

0:24:03.280 --> 0:24:04.600
<v Speaker 3>so much for joining us.

0:24:04.760 --> 0:24:05.879
<v Speaker 4>Real pleasure to have you.

0:24:06.160 --> 0:24:09.080
<v Speaker 3>I just want to point out that anyone who wants

0:24:09.119 --> 0:24:11.520
<v Speaker 3>to follow me at Matt Miller nineteen seventy if you're

0:24:11.520 --> 0:24:14.560
<v Speaker 3>on Instagram, can do so Matt Miller nineteen seventy three.

0:24:15.119 --> 0:24:17.520
<v Speaker 5>My Instagram is Hannah Elliott XO.

0:24:17.640 --> 0:24:20.600
<v Speaker 2>I will not be sharing my birth year with anybody

0:24:20.600 --> 0:24:23.000
<v Speaker 2>who asks, and it's root of you to ask. And

0:24:23.560 --> 0:24:25.879
<v Speaker 2>you can also find me on Bloomberg dot com and

0:24:25.960 --> 0:24:28.840
<v Speaker 2>sometimes on the radio with Matt and sometimes with Barry.

0:24:29.119 --> 0:24:31.840
<v Speaker 1>Follow me on Twitter at rid Halts. For as long

0:24:31.880 --> 0:24:35.240
<v Speaker 1>as Twitter hangs on by its fingernails, it's doing a

0:24:35.320 --> 0:24:37.560
<v Speaker 1>full friends ster. We're circling the dream. You know.

0:24:37.640 --> 0:24:39.000
<v Speaker 4>We'll see what the new year brings.

0:24:39.280 --> 0:24:42.159
<v Speaker 3>I guess that's it for hot pursuit that you can

0:24:42.200 --> 0:24:44.560
<v Speaker 3>catch more at the same time, same place next week.

0:24:44.880 --> 0:24:48.240
<v Speaker 2>I'm Matt Miller, I'm Hannah Elliott, and this is Bloomberg