WEBVTT - Bill Gates

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<v Speaker 1>Entrepreneur in businessman Bill Gates and his business partner Paul

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<v Speaker 1>Allen founded and built the world's largest software business, Microsoft,

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<v Speaker 1>through technological innovation, keen business strategy, and aggressive business tactics.

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<v Speaker 1>In the process, Gates became one of the richest men

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<v Speaker 1>in the world. In February, Gates announced that he was

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<v Speaker 1>stepping down as Microsoft's chairman to focus on charitable work

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<v Speaker 1>at his foundation, the Bill of Melinda Gates Foundation, and

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<v Speaker 1>Gates sat down with David Rubinstein, co founder of the

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<v Speaker 1>Carlisle Group and hosts of the Bloomberg television show Peer

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<v Speaker 1>to Peer Conversations to discuss global warming, carbon emissions, regulating

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<v Speaker 1>big tech, and why he thinks the impossible foods and

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<v Speaker 1>beyond meat can help the environment. For about twenty years

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<v Speaker 1>or so, you've been the wealthiest man in the world.

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<v Speaker 1>But because you've given away so much money. Recently, Jeff

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<v Speaker 1>Bezos became wealthier. Do you think if you had stayed

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<v Speaker 1>in college and gotten your college degree. I mean, you

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<v Speaker 1>don't feel inadequate now because being only the second wealthiest

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<v Speaker 1>man in the world was at right. No, I mean

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<v Speaker 1>it's a sign that I haven't given them money way

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<v Speaker 1>fast enough to drop out of the top ten, you know,

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<v Speaker 1>and the market has been strong. Actually, the market has

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<v Speaker 1>been strong. Microsoft is up thirty this year. So to

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<v Speaker 1>what do you attribute that? Uh, the company, you know,

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<v Speaker 1>it's doing super well. Such in Ndala is a great CEO.

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<v Speaker 1>You know, the whole dream of the importance of software

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<v Speaker 1>has really come true. The five most valuable companies in

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<v Speaker 1>the world are these technology companies. Microsoft, you know, has

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<v Speaker 1>a good share of that. I get to spend about

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<v Speaker 1>a sixth of my time now is over at Microsoft.

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<v Speaker 1>So recently you said that the biggest mistake you've made

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<v Speaker 1>professionally was that, um, Microsoft should have had the Android technology.

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<v Speaker 1>Why was that the big this mistake when you're in

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<v Speaker 1>a field, you know, we were in the field of

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<v Speaker 1>doing operating systems for personal computers. We knew the mobile

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<v Speaker 1>phone would be very popular, and so we were doing

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<v Speaker 1>what was called Windows Mobile. We missed being the dominant

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<v Speaker 1>mobile operating system by very tiny amount. We were distracted

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<v Speaker 1>during Iron and Trust trial. We didn't assign the best

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<v Speaker 1>people to do the work. So it's the biggest mistake

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<v Speaker 1>I made in terms of something that was clearly within

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<v Speaker 1>our skill set. We were clearly the company that that

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<v Speaker 1>should have achieved that your two million areas of focus

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<v Speaker 1>our cater twelve education, United States, and healthcare in the

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<v Speaker 1>least wealthy parts of the world. Recently, you've decided to

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<v Speaker 1>make another effort, not necessarily through your foundation, but through

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<v Speaker 1>Breakthrough Energy to try to do something about climate change.

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<v Speaker 1>Why are you so worried about climate change? Well, the

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<v Speaker 1>climate change is a problem that gets worse every year,

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<v Speaker 1>and yet what you have to do on a global

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<v Speaker 1>basis is very dramatic and reshaping the entire physical economy

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<v Speaker 1>that we have. And so it's a very complex problem,

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<v Speaker 1>and it's a problem that fits where I see my

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<v Speaker 1>value at it, which is looking at something through the

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<v Speaker 1>lens of innovation, not just the R and D part,

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<v Speaker 1>but the creation of products and the deployment of products,

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<v Speaker 1>and so helping educate people about Okay, what where, what

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<v Speaker 1>are the sources of these greenhouse gases? And how do

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<v Speaker 1>you get on a path of innovation so that you

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<v Speaker 1>can get global adoption and actually bring emissions down dramatically,

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<v Speaker 1>Because that's part of your foundation, or you're doing this

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<v Speaker 1>outside your foundation. Okay, the the part where you mitigate

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<v Speaker 1>and you help the poor countries with better seeds and

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<v Speaker 1>better policies. UH, partly through development aid that is through

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<v Speaker 1>the foundation, that mitigation part the part where you invent

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<v Speaker 1>new ways of making uh fuels, electricity, cement, steal meat

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<v Speaker 1>that is uh done directly by me with a lot

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<v Speaker 1>of investments, including the fund that you mentioned. The so

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<v Speaker 1>called breakto Energy Ventures is a fund that I assembled

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<v Speaker 1>a group of twenty two people uh to put money

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<v Speaker 1>into companies that are trying to commercialize the breakthroughs. Right,

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<v Speaker 1>but that's a fund of one billion dollars, right you

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<v Speaker 1>put in two So can one billion dollars really make

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<v Speaker 1>that much of a difference a billion? Uh? It's actually

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<v Speaker 1>been very catalytic so far. They have twenty investments. UH

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<v Speaker 1>late next year will probably raise another billion to a

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<v Speaker 1>billion and a half. You know, this is all about

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<v Speaker 1>innovation some right now. The premium if you said, okay,

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<v Speaker 1>you have to make steal with no emissions, that steel

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<v Speaker 1>would cost you four times what steel does today. Your

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<v Speaker 1>electric bill would more than double. Uh if if we

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<v Speaker 1>just take the technology we have today. So um Yes,

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<v Speaker 1>supporting those companies and drawing other investors in. One thing

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<v Speaker 1>break Through Energy has done has gotten a lot of

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<v Speaker 1>co investors green investing didn't go very well in the

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<v Speaker 1>first round, and so it looked like a field that

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<v Speaker 1>might UH evaporate to some three because d vs come

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<v Speaker 1>in and being able to bring a depth of understanding

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<v Speaker 1>to these things. Not only have they been able to invest,

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<v Speaker 1>the first billing will be UH fully committed within the

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<v Speaker 1>next year. But we've gotten other investors, so that's gone

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<v Speaker 1>quite well. And in the technology they only invest in

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<v Speaker 1>companies who have a chance of reducing greenhouse gas emissions

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<v Speaker 1>by a half a percent each each company. UH. And

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<v Speaker 1>you know they've found twenty and I'm sure they'll find

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<v Speaker 1>another twenty. I'm the smallest investor in that fund, I think,

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<v Speaker 1>So am I going to get my money back and

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<v Speaker 1>make a return? Or Um? What what do you say?

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<v Speaker 1>I'd say it's of the things you invest in. It's

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<v Speaker 1>probably one of the higher risk things. It is being

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<v Speaker 1>done on a commercial basis. UH. You know, we're likely

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<v Speaker 1>to have a few significant successes, so it's not philanthropic

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<v Speaker 1>in the sense that you can deduct it. UH. But

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<v Speaker 1>the time frame of the returns and the riskiness of

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<v Speaker 1>the turns are fairly high. So we do expect UH

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<v Speaker 1>to make a profit out of that fund. So Why

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<v Speaker 1>do you think some people do not believe that there

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<v Speaker 1>is such a thing as climate change. What is propelling

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<v Speaker 1>them to say there's no climate change? Is it's scientific

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<v Speaker 1>evidence or some other political reason. I won't mention anybody,

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<v Speaker 1>but there are some people who don't think that there

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<v Speaker 1>is climate change. Well, you know, they must not have

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<v Speaker 1>taken enough science courses or something. I don't know it. Uh.

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<v Speaker 1>The climate is a complex issue, and you know, just

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<v Speaker 1>understanding how you do the abatement requires a lot of

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<v Speaker 1>in depth study. In the United States, it's become somewhat

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<v Speaker 1>of a partisan issue, which is unfortunate. Uh, you know,

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<v Speaker 1>it might make it harder to achieve the type of

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<v Speaker 1>agreements we need uh here here in the United States.

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<v Speaker 1>But you know, we have two problems. We have the

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<v Speaker 1>people who deny climate and then we have the people

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<v Speaker 1>who think it's easy to solve, and we need to

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<v Speaker 1>help educate both of those groups. But in the history

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<v Speaker 1>of human civilization, is there any evidence that people will

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<v Speaker 1>do things that will affect their great great grandchildren but

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<v Speaker 1>that they won't see the benefit from. Well, the United States, actually,

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<v Speaker 1>of all governments, has been willing to take on very

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<v Speaker 1>difficult problems like cancer and make gigantic investments knowing that

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<v Speaker 1>the real payoff would be many decades down the road. Uh.

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<v Speaker 1>You know when that was first being pushed. Uh, you know,

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<v Speaker 1>people are saying, hey, this is important. Climate change is

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<v Speaker 1>like that where you've got to take a long term perspective.

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<v Speaker 1>And government at its best is when it's taking that

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<v Speaker 1>long term perspective and funding the basic guaranty and the

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<v Speaker 1>policies that lead to scale deployment. Now, a large part

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<v Speaker 1>of the carbon we have in the atmosphere now is

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<v Speaker 1>caused by the electricity grid, which is about so exactly

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<v Speaker 1>so Um, it comes from agriculture and forestry. Why is

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<v Speaker 1>that causing such a big increasing carbon Well, the mat

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<v Speaker 1>category UH is a variety of things. When you clear land,

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<v Speaker 1>you're taking in the carbon that stored, seeing the trees

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<v Speaker 1>or plants there, and you're releasing all of that like

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<v Speaker 1>burning the land, uh saying Indonesia for um palm oil plantations.

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<v Speaker 1>Another thing is that UH, cows and other grass eating

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<v Speaker 1>species have a digestion system that emits methane, and methane

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<v Speaker 1>is a very powerful greenhouse gas, and so cows alone

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<v Speaker 1>account for about six percent of global emissions. And so

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<v Speaker 1>we need to change cows just cows alone. How are

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<v Speaker 1>we going to do that? Well? Actually, of all the categories, uh,

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<v Speaker 1>the one that has gone better than I would have

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<v Speaker 1>expected five years ago is this work to make what's

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<v Speaker 1>called artificial meat. And so you have people like Impossible

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<v Speaker 1>or Beyond Meat, both which uh I invested in. You

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<v Speaker 1>eat it as well, and you like it, that's absolutely.

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<v Speaker 1>You can go to Burger King and by the Impossible burger.

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<v Speaker 1>All right, is it healthier for you or just healthier

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<v Speaker 1>for the It's slightly healthier for you in terms of

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<v Speaker 1>less cholesterol. It's of course dramatic reduction in methane emissions,

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<v Speaker 1>you know, animal cruelty, manure management, and the pressure that

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<v Speaker 1>meat consumption puts on land use. What about electric cars?

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<v Speaker 1>Do you think that's a solution. Absolutely? They If you

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<v Speaker 1>look at the transport sector, passenger cars with about another

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<v Speaker 1>factor of two to three in battery improvement, which is possible,

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<v Speaker 1>the mainstream for passenger cars can become electric. So you

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<v Speaker 1>have to make that transition. Uh, you've got to scale

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<v Speaker 1>it up. You've got to make sure electricity is zero emission.

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<v Speaker 1>But for trucks and planes, uh, there's almost no chance

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<v Speaker 1>the batteries will be good enough, and so there you'll

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<v Speaker 1>still need to create liquid fuels, either with electricity or biofuels.

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<v Speaker 1>Uh some way. Fuels are amazing. You know, the energy

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<v Speaker 1>density of gasoline is thirty times the energy density of

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<v Speaker 1>the best battery we can make. And so if you

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<v Speaker 1>look at like a a container ship that crosses the ocean,

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<v Speaker 1>having your fuel be thirty times less efficient would mean

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<v Speaker 1>that nine of the weight you're carrying would be the

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<v Speaker 1>batteries instead of the cargo. And so trucks and planes

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<v Speaker 1>and boats, electrification is unlikely to work in those cases.

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<v Speaker 1>So we need ways of making fuels that are are

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<v Speaker 1>zero carbon. When you talk to heads of state about this,

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<v Speaker 1>do they roll their eyes and say, we're happy to me,

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<v Speaker 1>do you can I have a selfie with you? And

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<v Speaker 1>so forth? But do they really do anything? And what

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<v Speaker 1>are you trying to get heads of state to do? Well?

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<v Speaker 1>In the um Paris Climate Conference, one of the things

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<v Speaker 1>that was missing was to focus on R and D

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<v Speaker 1>and uh. So actually France said yes, we want that

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<v Speaker 1>to be for the first time at a COP a

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<v Speaker 1>real issue that gets discussed. And so what was called

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<v Speaker 1>Mission Innovation, which Prime Minister MODI got to pick that name.

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<v Speaker 1>That idea of a commitment of over thirty governments to

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<v Speaker 1>double their energy R and D was a significant milestone

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<v Speaker 1>that came out of that conference. Uh. In order to

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<v Speaker 1>get that commitment, UH I had to make the commitment

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<v Speaker 1>that there would be breakthrough energy that would take things

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<v Speaker 1>out of those labs and help get them into the marketplace.

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<v Speaker 1>So there's been some progress. Climate is complicated enough that UH,

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<v Speaker 1>you know, you don't want you want a broad set

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<v Speaker 1>of people in the government to understand the the complexities

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<v Speaker 1>and in terms of the R and D work that

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<v Speaker 1>needs to be done, unless the US is deeply engaged,

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<v Speaker 1>it's unlikely to happen because so much of the world's

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<v Speaker 1>capacity to do that innovation is here in the United States.

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<v Speaker 1>States pulled out more or less of the Paris Accord,

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<v Speaker 1>though not technically so for another year or so. UM.

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<v Speaker 1>Is that of concern to you? And do you think

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<v Speaker 1>this is going to hurt the effort to change climate

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<v Speaker 1>change around the world. Yeah, it's a huge step backwards.

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<v Speaker 1>Even if you meet all the current commitments in that

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<v Speaker 1>climate accord, you're still way over two degrees of warming

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<v Speaker 1>and most countries are behind the commitments they made. Those

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<v Speaker 1>commitments were a set of reductions where you would compare

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<v Speaker 1>your two emissions to your two thousand five emissions. And

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<v Speaker 1>there's a little bit of that, that's easy. The shift

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<v Speaker 1>from cold and natural gas, which is one kind thing,

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<v Speaker 1>is a lot of that. Uh. And yet the world

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<v Speaker 1>is falling in short and so to him, people like

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<v Speaker 1>the United States say, Okay, that's even that's not important. Uh.

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<v Speaker 1>It just shows how daunting this is going to be.

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<v Speaker 1>There's no way we'll get there without the US coming

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<v Speaker 1>back in in a strong way. You think if you

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<v Speaker 1>met with President Trump you could convince him on Paris

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<v Speaker 1>to maybe get back in. Or is that beyond your

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<v Speaker 1>capabilities to do that? I I someone else should do that. Um.

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<v Speaker 1>All right, now, the largest companies in the world and

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<v Speaker 1>the United States today are technology companies Apple, Facebook, Google, Microsoft,

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<v Speaker 1>and so forth. UM. Do you worry that there's too

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<v Speaker 1>much power and too much data in the hands of

0:14:39.760 --> 0:14:42.800
<v Speaker 1>these technology companies? And are you surprised that government hasn't

0:14:42.800 --> 0:14:47.120
<v Speaker 1>done something more than they've done today about this? Well,

0:14:47.120 --> 0:14:51.400
<v Speaker 1>technology has become so central that government has to think, Okay,

0:14:51.400 --> 0:14:53.840
<v Speaker 1>what does that mean about elections? What does it mean

0:14:53.880 --> 0:14:56.960
<v Speaker 1>about bullying. What does it mean about why are tapping

0:14:57.000 --> 0:15:01.160
<v Speaker 1>authorities that lets you find out uh what's going on

0:15:01.320 --> 0:15:06.600
<v Speaker 1>financially or uh, you know, drug money laundering, things like that.

0:15:07.000 --> 0:15:10.640
<v Speaker 1>So yes, the government needs get involved. I for the

0:15:10.680 --> 0:15:13.840
<v Speaker 1>earliers of Microsoft break two people that I didn't have

0:15:13.920 --> 0:15:17.560
<v Speaker 1>an office in Washington, d C. And eventually I came

0:15:17.600 --> 0:15:22.360
<v Speaker 1>to regret uh that statement because it was kind of

0:15:22.360 --> 0:15:27.360
<v Speaker 1>almost like taunting Washington, d C. Uh. And so now

0:15:27.440 --> 0:15:30.960
<v Speaker 1>the technology companies, partly because of the lesson of Microsoft,

0:15:31.680 --> 0:15:34.160
<v Speaker 1>uh of course, you know, they could have seen that

0:15:34.280 --> 0:15:37.120
<v Speaker 1>lesson through a T and T R IBM or codact

0:15:37.160 --> 0:15:40.560
<v Speaker 1>or a lot of innovators as well. They're very engaged.

0:15:40.960 --> 0:15:44.440
<v Speaker 1>There will be more regulation of the tech sector, things

0:15:44.480 --> 0:15:47.960
<v Speaker 1>like privacy, I'm sure though, and there should be at

0:15:48.040 --> 0:15:51.520
<v Speaker 1>some point federal regulation that relates to that. The fact

0:15:51.560 --> 0:15:55.400
<v Speaker 1>that now this is the way people consume media, uh,

0:15:55.480 --> 0:15:59.760
<v Speaker 1>you know, has really brought it into a realm that uh,

0:16:00.080 --> 0:16:01.840
<v Speaker 1>you know, we need to shape it so that the

0:16:01.920 --> 0:16:07.720
<v Speaker 1>benefits outweigh outweigh the negatives. So if you were twenty

0:16:07.840 --> 0:16:09.800
<v Speaker 1>years old today and you wanted to start a new

0:16:09.840 --> 0:16:13.440
<v Speaker 1>company drop out of Harvard, what company or what area

0:16:13.440 --> 0:16:15.560
<v Speaker 1>would you want to start it in Well, this is

0:16:15.600 --> 0:16:18.880
<v Speaker 1>a great time to be doing innovation because the tools

0:16:18.920 --> 0:16:21.600
<v Speaker 1>of innovation are so much better. There are lots of

0:16:21.640 --> 0:16:25.720
<v Speaker 1>things in biology that are very interesting. Uh, there are

0:16:25.840 --> 0:16:29.360
<v Speaker 1>lots of things in energy that are interesting. Given my background,

0:16:29.480 --> 0:16:34.000
<v Speaker 1>I would start an AI company that whose goal would

0:16:34.040 --> 0:16:38.680
<v Speaker 1>be to uh teach computer's kind of read so that

0:16:38.760 --> 0:16:42.400
<v Speaker 1>they can absorb and understand all the written knowledge of

0:16:42.440 --> 0:16:46.000
<v Speaker 1>the world. That's an area where AI has yet to

0:16:46.120 --> 0:16:48.720
<v Speaker 1>make progress, and it will be quite profound when we

0:16:48.760 --> 0:16:51.160
<v Speaker 1>achieve that goal. So are you worried about the power

0:16:51.200 --> 0:16:54.720
<v Speaker 1>of AI to disrupt our civilization and put people out

0:16:54.720 --> 0:16:58.880
<v Speaker 1>of work? Those kind of things. The increased productivity that

0:16:58.920 --> 0:17:04.240
<v Speaker 1>will come from a I will create dilemmas about what

0:17:04.359 --> 0:17:08.200
<v Speaker 1>should people do with that extra time? And you've got

0:17:08.200 --> 0:17:11.720
<v Speaker 1>to consider that a good thing, even though it will

0:17:11.800 --> 0:17:15.800
<v Speaker 1>be an interesting set of adjustments that have to take place.

0:17:16.080 --> 0:17:18.960
<v Speaker 1>You assess the two most urgent issues were K to

0:17:19.040 --> 0:17:21.600
<v Speaker 1>twelve in the United States and health in the less

0:17:21.640 --> 0:17:24.280
<v Speaker 1>developed areas. How did you pick those two? Any regrets

0:17:24.280 --> 0:17:26.600
<v Speaker 1>about picking those two? And have you made progress on

0:17:26.800 --> 0:17:31.440
<v Speaker 1>either of those two? Well, global health is our biggest area,

0:17:31.560 --> 0:17:36.400
<v Speaker 1>and there the progress has been really unbelievable, not just

0:17:36.600 --> 0:17:39.960
<v Speaker 1>because of our work, but our partners that include the

0:17:40.040 --> 0:17:46.080
<v Speaker 1>US government spending on pet far the European donors who

0:17:46.080 --> 0:17:49.040
<v Speaker 1>have really stepped up on these health issues. One of

0:17:49.040 --> 0:17:53.040
<v Speaker 1>the metrics of importance is the number of children in

0:17:53.080 --> 0:17:55.680
<v Speaker 1>the world who died before the age of five. When

0:17:55.720 --> 0:17:58.720
<v Speaker 1>we got started in the year two thousand, that was

0:17:58.760 --> 0:18:02.800
<v Speaker 1>over ten million a year. Now it's about five million year,

0:18:03.800 --> 0:18:08.199
<v Speaker 1>and so you know, it's just mind blowing, and and

0:18:08.359 --> 0:18:10.840
<v Speaker 1>people aren't that as aware of it. Iss you'd like

0:18:10.960 --> 0:18:15.240
<v Speaker 1>them to be. The those deaths. Because of getting out

0:18:16.119 --> 0:18:19.960
<v Speaker 1>vaccines and understanding a bit more about nutrition, those deaths

0:18:19.960 --> 0:18:22.560
<v Speaker 1>have been cut in half. Now the goal is to

0:18:22.600 --> 0:18:29.280
<v Speaker 1>cut them in half again. Our US education work, uh

0:18:29.400 --> 0:18:32.119
<v Speaker 1>that is not just K through twelve, that includes higher

0:18:32.160 --> 0:18:38.640
<v Speaker 1>it as well. They're the key metrics, uh, dropout rates, UM,

0:18:40.200 --> 0:18:45.840
<v Speaker 1>math and verbal achievement. Those metrics have moved essentially not

0:18:46.000 --> 0:18:49.760
<v Speaker 1>at all. And even as the US is spending more

0:18:50.400 --> 0:18:54.480
<v Speaker 1>resources on education, we spend by far more than any

0:18:54.600 --> 0:18:57.720
<v Speaker 1>any country in the world, and yet our results are

0:18:57.840 --> 0:19:02.639
<v Speaker 1>quite a bit worse. Uh then, Uh, almost all the

0:19:02.680 --> 0:19:06.280
<v Speaker 1>other rich countries and even some middle income countries. You know,

0:19:06.359 --> 0:19:10.320
<v Speaker 1>even Vietnam now is passing us in terms of their

0:19:10.400 --> 0:19:15.320
<v Speaker 1>math results. So the there, the fields as a whole

0:19:15.400 --> 0:19:18.160
<v Speaker 1>in our work has not had the impact we hope for.

0:19:18.320 --> 0:19:21.240
<v Speaker 1>So today people come to you all the time for money.

0:19:21.560 --> 0:19:23.840
<v Speaker 1>I assume everywhere you go people say, by the way,

0:19:23.880 --> 0:19:25.720
<v Speaker 1>I have this thing you should invest in. By I

0:19:25.760 --> 0:19:27.879
<v Speaker 1>have a couple of myself I've mentioned later, No, not

0:19:27.920 --> 0:19:29.720
<v Speaker 1>just gonna do now, a couple of things you should

0:19:29.720 --> 0:19:31.439
<v Speaker 1>invest in or things you should give money to. So

0:19:31.480 --> 0:19:33.119
<v Speaker 1>how do you resist it you have some person who

0:19:33.160 --> 0:19:35.480
<v Speaker 1>says no for you, or how do you do that?

0:19:36.000 --> 0:19:39.480
<v Speaker 1>Let many people? How many people say no? Well, once

0:19:39.520 --> 0:19:43.359
<v Speaker 1>you pick what you care about. If somebody has something

0:19:43.400 --> 0:19:46.600
<v Speaker 1>that can make a difference in global health, we're super interested.

0:19:46.920 --> 0:19:50.680
<v Speaker 1>And you know we have staff people and if it's

0:19:50.720 --> 0:19:52.800
<v Speaker 1>to do with global help, some of those people will

0:19:52.800 --> 0:19:55.280
<v Speaker 1>come out and talk through with you whatever your innovation

0:19:55.520 --> 0:19:58.000
<v Speaker 1>is and how we can partner with you on that.

0:19:58.440 --> 0:20:01.359
<v Speaker 1>You know, so that's clearly in our area. If it's

0:20:01.400 --> 0:20:04.640
<v Speaker 1>something that can substantially improve K through to welve education,

0:20:05.200 --> 0:20:07.879
<v Speaker 1>then we're going to be very interested in it. If

0:20:07.880 --> 0:20:10.639
<v Speaker 1>people are asking outside of those things, then you know,

0:20:10.760 --> 0:20:15.040
<v Speaker 1>fortunately you can say no, because focuses is key to philanthropy.

0:20:15.080 --> 0:20:17.919
<v Speaker 1>So people have recognized over the years that raising children

0:20:18.000 --> 0:20:20.919
<v Speaker 1>is difficult. Jackie Kennedy famously said, if you mess up

0:20:21.000 --> 0:20:24.399
<v Speaker 1>raising your children, nothing else matters. You have three children,

0:20:24.400 --> 0:20:26.520
<v Speaker 1>seem to be well adjusted, and you've kept them out

0:20:26.520 --> 0:20:29.080
<v Speaker 1>of the newspapers and so forth. How do you avoid

0:20:29.119 --> 0:20:32.879
<v Speaker 1>spoiling kids like that? I think that's a huge problem.

0:20:32.920 --> 0:20:38.919
<v Speaker 1>You know. Obviously our kids have benefited from having a

0:20:38.960 --> 0:20:43.560
<v Speaker 1>great education and an opportunity to travel and uh, you know,

0:20:43.600 --> 0:20:47.000
<v Speaker 1>so they're very lucky in that sense. Making sure that

0:20:47.040 --> 0:20:50.080
<v Speaker 1>the visibility or the way people treat them is not unnatural.

0:20:51.080 --> 0:20:54.080
<v Speaker 1>There're some challenges that come with that. So far, they've

0:20:54.119 --> 0:20:57.879
<v Speaker 1>handled it well. You know, Melinda uh is the one

0:20:57.880 --> 0:21:02.160
<v Speaker 1>who deserves any are certainly almost all the credit uh

0:21:02.200 --> 0:21:07.000
<v Speaker 1>for the kids so far doing very well. You know,

0:21:07.000 --> 0:21:09.719
<v Speaker 1>our kids, we've said to them that that, you know,

0:21:09.840 --> 0:21:12.600
<v Speaker 1>the money is going to the foundation, and so they

0:21:12.600 --> 0:21:16.800
<v Speaker 1>don't think of themselves as sort of aristocratic. What do

0:21:16.840 --> 0:21:18.520
<v Speaker 1>they say to tell them that? They say, can you

0:21:18.520 --> 0:21:20.120
<v Speaker 1>give me a little bit or something? Or they don't

0:21:20.359 --> 0:21:22.560
<v Speaker 1>they don't ask for some they'll get a little bit.

0:21:22.640 --> 0:21:26.000
<v Speaker 1>How much money has your Foundation given away today about

0:21:26.000 --> 0:21:30.280
<v Speaker 1>forty billion dollars. Yeah, we're now up to giving six

0:21:30.320 --> 0:21:33.840
<v Speaker 1>billion dollars a year. So finally, UM, if people are

0:21:33.840 --> 0:21:35.639
<v Speaker 1>watching now and they say, all right, I want to

0:21:35.640 --> 0:21:38.119
<v Speaker 1>do something about climate change, but I'm just one person.

0:21:38.160 --> 0:21:40.159
<v Speaker 1>I don't have the resource of Bill Gates says, what

0:21:40.280 --> 0:21:43.520
<v Speaker 1>can any average person do to have some impact on

0:21:43.640 --> 0:21:47.440
<v Speaker 1>climate change? In your view? Well, certainly they can take

0:21:48.720 --> 0:21:54.639
<v Speaker 1>things like, uh, these new meat products or how they

0:21:55.560 --> 0:22:00.440
<v Speaker 1>buy electricity, and they can help, uh draw hive up

0:22:00.480 --> 0:22:05.560
<v Speaker 1>the scale of the green solutions. The most important thing

0:22:05.960 --> 0:22:09.520
<v Speaker 1>at this stage is their political voice. Uh, there's going

0:22:09.560 --> 0:22:14.160
<v Speaker 1>to be a need to put substantial resources into this effort,

0:22:14.720 --> 0:22:20.240
<v Speaker 1>and you know we need will need a bipartisan solution

0:22:20.880 --> 0:22:23.840
<v Speaker 1>and to send the right signal to the market. You

0:22:23.920 --> 0:22:26.720
<v Speaker 1>actually don't if you just win one year and then

0:22:26.760 --> 0:22:30.600
<v Speaker 1>it gets repealed, that doesn't help at all. The key

0:22:30.680 --> 0:22:34.720
<v Speaker 1>is what people see the policies will be over the

0:22:34.760 --> 0:22:38.240
<v Speaker 1>next thirty years on a consistent basis, and that means

0:22:38.280 --> 0:22:41.640
<v Speaker 1>it's a much higher bar than just a one time victory.

0:22:42.040 --> 0:22:45.440
<v Speaker 1>That was Billy Melinda Gates Foundation co chair and Microsoft

0:22:45.480 --> 0:22:46.880
<v Speaker 1>co founder Bill Gates