WEBVTT - Remote-Work Czar Is Highly Sought-After Position 0:00:01.800 --> 0:00:04.440 This is Bloomberg Business Week. I'm Karl Masser and I'm 0:00:04.480 --> 0:00:07.280 Bloomberg Quick Takes Tim Stanovk. We're here every day bringing 0:00:07.320 --> 0:00:09.840 you the latest news from the world to business and finance, 0:00:09.840 --> 0:00:13.680 plus technology, politics, economics, all partnising the power of Business 0:00:13.680 --> 0:00:17.160 Week reporters and editors, not to mention our journalists and 0:00:17.160 --> 0:00:20.000 analysts in more than one twenty countries. You can download 0:00:20.000 --> 0:00:23.479 Bloomberg Business Weekend iTunes, SoundCloud, or Bloomberg dot com. You 0:00:23.480 --> 0:00:25.439 can also listen to our radio show at two pm 0:00:25.440 --> 0:00:27.880 Eastern Time on the Bloomberg Radio or watch us on 0:00:27.920 --> 0:00:32.239 YouTube search Bloomberg Global News. We talked about a New 0:00:32.320 --> 0:00:35.080 York Times reporting that Fiser Maderna expanding vaccine studies of 0:00:35.159 --> 0:00:37.599 children under eleven. We've also talked about, or you've heard, 0:00:37.600 --> 0:00:41.240 certainly on Bloomberg about COVID infections globally increasing the most 0:00:41.240 --> 0:00:43.600 in two months amid the spread of the delta variant, 0:00:43.600 --> 0:00:45.960 a surge across the US and low vaccination levels in 0:00:46.040 --> 0:00:49.080 most Southeast Asian nations, and New York City tim saying 0:00:49.080 --> 0:00:51.519 all municipal workers will be required to receive a vaccine 0:00:51.560 --> 0:00:53.480 or get tested weekly. We just talked about that, Yeah, 0:00:53.520 --> 0:00:54.880 just some of the things we're thinking about when it 0:00:54.920 --> 0:00:57.400 comes to the virus and vaccine. Joining us now is 0:00:57.480 --> 0:01:01.200 Dr Hilth Pause, chief executive officer at Wexner Medical Center, 0:01:01.320 --> 0:01:04.600 also Chancellor of Health Affairs at the Ohio State University, 0:01:04.640 --> 0:01:07.640 on the phone from Columbus, Ohio, Ohio, Doctor Pause, it's 0:01:07.640 --> 0:01:09.760 great to have you back on the program. How are you. 0:01:10.160 --> 0:01:12.480 I'm doing well. Thank you, it's great feedback. Appreciate the 0:01:12.480 --> 0:01:15.800 opportunity definitely. Well. I think the big concern that among 0:01:15.880 --> 0:01:17.720 at least people in my own universe has to be 0:01:17.880 --> 0:01:21.000 breakthrough infections and the delta variant. It's it's one of 0:01:21.000 --> 0:01:23.400 the things that that we are certainly thinking about, especially 0:01:23.400 --> 0:01:26.760 as kids under the age of twelve still cannot be vaccinated. 0:01:26.840 --> 0:01:28.760 So I'm wondering what evidence do we have right now 0:01:29.480 --> 0:01:33.520 about how somebody who is infected with a breakthrough can 0:01:33.520 --> 0:01:38.280 they pass it to somebody who isn't vaccinated. Yeah, so, um, 0:01:38.319 --> 0:01:42.960 there certainly is the possibility that if someone has um 0:01:44.000 --> 0:01:46.640 uh an infection, they've been vaccinated, and they and they 0:01:46.680 --> 0:01:50.760 are infected now with one of the COVID nineteen variants, 0:01:51.120 --> 0:01:54.520 they could pass it. Um It really depends on a 0:01:54.600 --> 0:01:57.960 number of factors UM, particularly their immune status. There are 0:01:57.960 --> 0:02:02.120 some individuals that are not going to achieve the kind 0:02:02.160 --> 0:02:05.680 of immunity we want and to see after they're vaccinated. 0:02:06.600 --> 0:02:11.160 Here we've seen at the Wexner Medical Center UM admitted 0:02:11.200 --> 0:02:14.200 to the hospital teen percent of individuals who are fully 0:02:14.320 --> 0:02:19.000 vaccinated and UH and in in those cases, these are 0:02:19.040 --> 0:02:22.640 individuals that have our immunocompromise because of an underlying disease 0:02:22.760 --> 0:02:26.720 or or undergoing active cancer treatment. If they have higher 0:02:26.720 --> 0:02:29.760 and high enough viral counts, there is the possibility that 0:02:29.840 --> 0:02:32.480 they could transmit it. But these are you know, these 0:02:32.480 --> 0:02:35.639 are the exception, not the rule. The the the opportunity 0:02:35.760 --> 0:02:39.000 is is for all of us to get vaccinated. And 0:02:39.080 --> 0:02:42.679 you know, we're learning a lot now with additional studies 0:02:42.720 --> 0:02:46.600 around how to best handle individuals that are you know, 0:02:46.680 --> 0:02:50.400 in an age group or have underlying conditions where they 0:02:50.440 --> 0:02:53.720 may need an additional booster and UM because of their 0:02:53.760 --> 0:02:56.040 increased risk. Well, how should we how should we think 0:02:56.080 --> 0:02:59.720 about that people within who do have an increased risk? 0:02:59.760 --> 0:03:02.600 I mean should should It's this it's this strange sort 0:03:02.600 --> 0:03:04.120 of scenario that we're in right now, because if we 0:03:04.120 --> 0:03:05.440 were think back where we were at the beginning of 0:03:05.440 --> 0:03:07.480 the summer, it was sort of like, Okay, we are 0:03:07.600 --> 0:03:09.720 very happy right now, things are getting back to normal. 0:03:09.720 --> 0:03:11.720 We don't have to wear masks anymore. And suddenly we're 0:03:11.720 --> 0:03:13.799 in this situation where it's like, okay, now people now 0:03:13.800 --> 0:03:16.320 health experts are talking about wearing mass again, even if 0:03:16.320 --> 0:03:19.680 you've been vaccinated. M Yeah, So you know, we need 0:03:19.720 --> 0:03:22.600 to I think put all this into into context. So 0:03:22.720 --> 0:03:26.760 if we go back to March of the original strain 0:03:26.800 --> 0:03:30.280 in the US, since then, we are we've had four 0:03:30.440 --> 0:03:33.520 variants that have come forward. So Alpha from the UK, 0:03:33.840 --> 0:03:38.000 Beta that first was detected in South Africa, Gamma originally 0:03:38.040 --> 0:03:40.960 detected in Brazil and Japan, and now Delta, which was 0:03:41.000 --> 0:03:44.440 originally detected in India. And as you mentioned, Delta is 0:03:44.520 --> 0:03:48.720 now quickly spreading and becoming um the most prevalent um 0:03:48.840 --> 0:03:51.880 right now. And we know that in part because it 0:03:52.040 --> 0:03:56.680 is forty six more contagious than alpha, and Alpha was 0:03:57.440 --> 0:04:00.360 more contagious than the original strain that we also so 0:04:01.120 --> 0:04:04.600 right now in the US, Delta is responsible for thirty 0:04:04.640 --> 0:04:07.160 percent of all COVID cases and we're going to continue, 0:04:07.560 --> 0:04:10.200 I believe, to see Delta become more and more prevalent 0:04:10.880 --> 0:04:15.640 It's important to remember though that infections, contagiousness and and 0:04:15.840 --> 0:04:18.600 lethality of the virus are two different things. And I 0:04:18.680 --> 0:04:21.080 mentioned this I think when I was on previously. You know, 0:04:21.240 --> 0:04:25.200 think of a virus like a bowla exceptionally lethal Obviously 0:04:25.360 --> 0:04:28.520 it is not a pandemic. On the other hand, as 0:04:28.600 --> 0:04:33.160 these variants in COVID developed, the more they become contagious, 0:04:33.200 --> 0:04:36.760 the more and they can spread. There's no evidence that 0:04:36.800 --> 0:04:40.040 we have right now that the delta variant is more 0:04:40.120 --> 0:04:44.440 lethal than the earlier variants we've seen in the US. Um. Obviously, 0:04:44.520 --> 0:04:48.080 that's something we have to keep um watching carefully, but 0:04:48.279 --> 0:04:52.320 it also does follow the natural evolution of viruses. If 0:04:52.320 --> 0:04:55.520 they're going to become more contagious, they can't kill the hosts. 0:04:55.520 --> 0:04:57.719 Obviously it would you know, that would be a tragic 0:04:57.760 --> 0:05:01.640 set of circumstances. Could it happen? Sure? But um, that's 0:05:01.680 --> 0:05:05.080 something we just don't see, right That's often a question 0:05:05.120 --> 0:05:08.640 line dr pause that we are that we pursue here 0:05:08.800 --> 0:05:10.880 to understand that do we get to a point where 0:05:10.920 --> 0:05:14.440 there is a variant that is not only more contagious 0:05:14.480 --> 0:05:18.280 but also more lethal, which would be not a good combination. 0:05:18.480 --> 0:05:22.840 Is that inevitable or not necessarily well. Again, we can 0:05:22.880 --> 0:05:27.000 only base what we know on test experience with viral 0:05:27.080 --> 0:05:30.200 infections as well as with the data we have right now, 0:05:30.320 --> 0:05:33.520 and right now we don't see evidence that the delta 0:05:33.600 --> 0:05:37.800 variant is more lethal than the earlier variants that we've 0:05:37.880 --> 0:05:40.560 experienced here in this country, around the world, but we 0:05:40.600 --> 0:05:44.159 continue to collect that information. The surest thing we can 0:05:44.200 --> 0:05:47.720 do is get everybody vaccinated, and those that are in 0:05:47.839 --> 0:05:51.840 exceptionally high risk groups, those that are immunocompromised, look at 0:05:51.839 --> 0:05:55.120 the studies that suggest giving them a booster as well. 0:05:55.680 --> 0:05:58.240 That's what we need to do to protect everyone. And 0:05:58.720 --> 0:06:02.159 we've talked about this before war Um. The whole point 0:06:02.160 --> 0:06:05.880 of this is to prevent people from dying, from winding 0:06:05.920 --> 0:06:08.200 up in the hospital. That's what we're trying to do. 0:06:08.680 --> 0:06:14.320 People have already been reinfected or have become ineffective after 0:06:14.360 --> 0:06:18.320 being vaccinated, but quite frankly, if the worst thing they 0:06:18.360 --> 0:06:21.240 have is a cold, and I remember when I came 0:06:21.279 --> 0:06:23.760 on the first time I mentioned that. You know, we 0:06:23.839 --> 0:06:26.440 believe fifteen percent of the time, going back for a 0:06:26.480 --> 0:06:30.680 long time, the common cold was caused by some coronavirus. 0:06:30.680 --> 0:06:34.000 This is Bloomberg Business. We Carl Master along with Tim Stanovic. Well, 0:06:34.600 --> 0:06:38.320 earlier we had Dr Anthony Fauci, of course, the nation's 0:06:38.320 --> 0:06:40.920 top doctor when it comes to COVID and the vaccine 0:06:40.960 --> 0:06:44.680 catching up on CNN and he talked about the nation, 0:06:44.760 --> 0:06:47.719 the United States, going in the wrong direction. Check it out. 0:06:48.360 --> 0:06:50.800 I'm not so sure it would be the worst case scenario, 0:06:50.920 --> 0:06:53.560 but it's not going to be good. We're going in 0:06:53.600 --> 0:06:56.080 the wrong direction if you look at the inflection of 0:06:56.120 --> 0:06:59.240 the curve of new cases, and as you said in 0:06:59.279 --> 0:07:03.359 the running to this interview, that it is among the unvaccinated, 0:07:03.440 --> 0:07:08.840 and since we have of the country is not fully vaccinated, 0:07:09.640 --> 0:07:12.040 that's a problem, all right. And that, of course was 0:07:12.120 --> 0:07:16.440 Dr Anthony Faucci yesterday on CNN talking about what's going 0:07:16.520 --> 0:07:18.280 on when it comes to COVID and the vaccine in 0:07:18.280 --> 0:07:21.240 the progress or process here in the United States. Let's 0:07:21.240 --> 0:07:24.000 get back to Dr Harold Pause. He's Executive EP Chancellor 0:07:24.040 --> 0:07:27.120 for Health Affairs at the Ohio State University CEO Wexner 0:07:27.200 --> 0:07:31.400 Medical Center. It's a massive enterprise hospitals, College of Medicine, 0:07:31.400 --> 0:07:34.520 Research and more. Former chief medical officer at ETNA. Still 0:07:34.520 --> 0:07:37.520 with us on the phone from Columbus, Ohio. So how 0:07:37.560 --> 0:07:41.000 do we dr pause? Tim and I talked about this 0:07:41.040 --> 0:07:42.880 a lot. So we both have the vaccine, We feel 0:07:42.920 --> 0:07:45.480 pretty comfortable and that even if we get COVID, we're 0:07:45.480 --> 0:07:47.720 probably in a good shape. A lot of those around us, 0:07:48.040 --> 0:07:50.640 whether who we work with, our families, have also gotten that. 0:07:51.080 --> 0:07:53.960 But how do we need to start thinking about a 0:07:54.000 --> 0:07:56.680 booster shot, especially as there's more and more research about 0:07:56.680 --> 0:08:00.720 the efficacy or the waning efficacy of these vaccines on 0:08:00.920 --> 0:08:03.320 younger people, older people. There's a lot of moving parts 0:08:03.320 --> 0:08:05.120 on this, So how do we need to maybe mark 0:08:05.120 --> 0:08:08.080 our calendars about what we need to do next? Right? 0:08:08.160 --> 0:08:10.880 So great question. First of all, let me just reiterate 0:08:11.080 --> 0:08:15.000 what uh Anthony Fauci said here in Columbus at the 0:08:15.000 --> 0:08:18.680 Wexner Medical Center. Of the patients who have been admitted 0:08:18.680 --> 0:08:22.720 to our hospitals with active COVID, nineteen have either been 0:08:22.880 --> 0:08:28.400 unvaccinated or partially vaccinated. That's is just I can't give 0:08:28.400 --> 0:08:31.400 you better evidence to support what he said. Only ten 0:08:31.480 --> 0:08:34.400 percent have been fully vaccinated, and all of them, to 0:08:34.440 --> 0:08:38.400 an individual, are either an active cancer treatment or have 0:08:38.640 --> 0:08:42.640 some underlying immune disorder. I mean, it's staggering when you 0:08:42.679 --> 0:08:45.360 look at that, and when we think about younger people 0:08:46.040 --> 0:08:48.800 now getting infected with the delta variant because it's so 0:08:48.880 --> 0:08:51.640 much more contagious. I don't know what else we can 0:08:51.679 --> 0:08:55.319 do other than convince everyone to get this vaccine unless 0:08:55.320 --> 0:08:59.040 there's some medical reason why they can't. I mean, this 0:08:59.120 --> 0:09:01.680 is what it's all about out It's about saving lives. 0:09:02.320 --> 0:09:04.520 And I think that as we get more and more 0:09:04.600 --> 0:09:09.439 data about how these vaccines impact our immune response to COVID. 0:09:09.679 --> 0:09:15.160 It's making antibodies, but it's also cellular immune response T cells, 0:09:15.200 --> 0:09:18.080 for example, how they respond to the virus, will know 0:09:18.240 --> 0:09:22.480 more about getting a booster, how long the vaccine protects 0:09:22.559 --> 0:09:25.360 us for keep in mind, we had a pandemic a 0:09:25.440 --> 0:09:29.960 century ago. H one N one influenza hasn't gone away. 0:09:30.240 --> 0:09:33.440 It comes back every year, and all of us I 0:09:33.480 --> 0:09:35.640 hope all of us go out and get a vaccine 0:09:35.640 --> 0:09:39.120 for the flu because every year, tens of thousands of 0:09:39.160 --> 0:09:42.160 people in the US diet influenza. So we want to 0:09:42.200 --> 0:09:45.800 prevent that from happening. We all get our annual flu vaccine. 0:09:46.440 --> 0:09:50.400 I suspect that as a result of the variance and 0:09:50.440 --> 0:09:53.560 what we've seen evolved now over more than a year 0:09:53.559 --> 0:09:56.000 and a half, we're going to be in a situation 0:09:56.080 --> 0:09:59.200 where the foreseeable future we're going to have to think 0:09:59.240 --> 0:10:03.840 of strategy about getting boosters or additional vaccine to protect 0:10:03.960 --> 0:10:07.320 us from winding up very sick in the hospital on 0:10:07.400 --> 0:10:10.840 a ventilator or dying. One more point, we are doing 0:10:10.880 --> 0:10:14.520 more lung transplants now than we've seen before. Those are 0:10:14.600 --> 0:10:20.040 lung transplants for COVID nineteen survivors. That's not a situation 0:10:20.160 --> 0:10:22.760 we want to have in this country. Is does it 0:10:22.760 --> 0:10:25.080 get to a point where the way that this virus 0:10:25.120 --> 0:10:29.120 just burns off as similar to what happened in nineteen 0:10:29.200 --> 0:10:32.400 where the people who are not vaccinated and we weren't 0:10:32.400 --> 0:10:35.559 talking about vaccines then, but the people are not vaccinated, Uh, 0:10:35.800 --> 0:10:41.719 they become sick or even worse, uh, and then they 0:10:41.720 --> 0:10:45.000 get immunity. Right as a result, if they if they 0:10:45.040 --> 0:10:46.680 do not die from this, and we just have about 0:10:46.720 --> 0:10:49.720 thirty seconds left, well, but the immunity doesn't last forever 0:10:49.840 --> 0:10:52.760 when you're infected. And we know, for example, infections with 0:10:52.840 --> 0:10:56.400 COVID don't offer the same protection for the variance as 0:10:56.440 --> 0:10:59.959 getting a vaccine. So it's the vaccine that offers much 0:11:00.160 --> 0:11:03.840 better protection than getting an infection um and you know, 0:11:03.960 --> 0:11:06.800 with the influenza, it never really did go away. H 0:11:06.800 --> 0:11:09.400 one N one comes back annually. But that's why we 0:11:09.440 --> 0:11:12.720 get an influenza shot, right, And that's really kind of 0:11:12.760 --> 0:11:14.800 increasingly how we need to think about all of this. Hey, 0:11:14.880 --> 0:11:17.079 Dr Pause, thank you so much. Always a treat when 0:11:17.080 --> 0:11:20.040 you join us. Dr Harold Pause. He's Chancellor for Health 0:11:20.040 --> 0:11:23.040 Affairs at the Ohio State University CEO of Wexner Medical Center. 0:11:23.080 --> 0:11:25.680 With a great perspective on everything that's going on today. 0:11:26.000 --> 0:11:29.560 You're listening to Bloomberg Business Week with Carol Messer and 0:11:29.679 --> 0:11:34.240 Bloomberg Quick Takes. Tim Stinovic on Bloomberg Radio. Our world 0:11:34.240 --> 0:11:36.960 we know, disrupted by the COVID pandemic, more e commerce, 0:11:37.000 --> 0:11:41.360 more technology and automation everywhere, virtual medicine. Also, the relationship 0:11:41.360 --> 0:11:44.040 between employee and employer has changed because of ramped up 0:11:44.080 --> 0:11:46.400 remote working and as a result, one of the most 0:11:46.440 --> 0:11:49.600 sought after management jobs right now is something akin tim 0:11:49.640 --> 0:11:52.760 to a remote works are. A remote works are, it's 0:11:52.800 --> 0:11:56.080 a shortcut to the c suite for rising professionals, joining 0:11:56.120 --> 0:11:57.960 us down, tell us all about it. As Joe Weber, 0:11:58.040 --> 0:11:59.800 editor at Bloomberg Business Week, he joins us on the 0:12:00.120 --> 0:12:03.440 this line from Brooklyn. Also, Matt Boyle, us retail reporter 0:12:03.600 --> 0:12:06.800 for Bloomberg News, joins us on the phone from New 0:12:06.880 --> 0:12:10.640 York City. Joel the Rise of the remote the vice 0:12:10.679 --> 0:12:14.200 president of Productivity and Remote Experience. It's it's not necessarily 0:12:14.240 --> 0:12:17.280 something that I knew would really exist, even in a 0:12:17.280 --> 0:12:20.600 post COVID world. I didn't. I didn't either, And that's 0:12:20.640 --> 0:12:23.240 what UM sort of caught my attention about it. But 0:12:23.600 --> 0:12:27.160 as you would expect, UM, this last year's changed UM 0:12:27.800 --> 0:12:30.400 a lot of stuff. Uh. And in the season, we 0:12:30.520 --> 0:12:32.720 I think there was a recognition that there that there 0:12:32.800 --> 0:12:35.480 was a new role that needed to be created. And 0:12:35.480 --> 0:12:38.560 and I was not only surprised to hear the title 0:12:38.559 --> 0:12:41.240 of the role, but also learned that it is sort 0:12:41.240 --> 0:12:44.559 of a shortcut. So so Matt take us uh and 0:12:44.600 --> 0:12:47.120 said that conversation, and how many of these positions are 0:12:47.480 --> 0:12:52.080 really crupping up? Yeah, that's hard to say at the 0:12:52.200 --> 0:12:55.040 moment um, but we we do know, because it might 0:12:55.040 --> 0:12:57.480 not be called specifically that, but we do know that 0:12:57.480 --> 0:12:59.160 there are going to be people sort of you know 0:12:59.559 --> 0:13:05.520 who's responsibilities include making sure that remote workers UM are engaged, 0:13:05.679 --> 0:13:08.760 you know, are productive. Um. There's been so much debate 0:13:08.800 --> 0:13:11.360 over you know, whether or not you know, when you 0:13:11.840 --> 0:13:14.640 spend your day on zoom, Uh, if your home all day, 0:13:14.679 --> 0:13:16.440 you're going to be as products. And I think the 0:13:16.480 --> 0:13:19.680 case is clear that you know, workers certainly are as productive, 0:13:19.679 --> 0:13:22.840 if not more productive, working from home. The pandemic has 0:13:22.880 --> 0:13:25.400 proved that. But um, you know, are they happy? Are 0:13:25.440 --> 0:13:27.680 they thinking of leaving? And that's something that this rule 0:13:27.720 --> 0:13:30.600 would help figure out. Um, so you'd have somebody, you know, 0:13:30.679 --> 0:13:33.840 sort of responsible for your entire remote workforce. And those 0:13:33.880 --> 0:13:37.040 workforces are growing, of course, we can have as many 0:13:37.040 --> 0:13:41.040 as one in five workers primarily working from home in 0:13:41.080 --> 0:13:44.520 three years according to some research we've seen. So you 0:13:44.520 --> 0:13:46.800 really need somebody to sort of, you know, oversee all 0:13:46.800 --> 0:13:50.320 of them. And that's what this role uh, you know, right, 0:13:50.600 --> 0:13:52.000 you know what, Joe though, you know, I'm listening to 0:13:52.040 --> 0:13:53.880 Matt talk and I'm wondering, is this going to be 0:13:53.920 --> 0:13:58.280 more like a remote work police person policing people making 0:13:58.280 --> 0:14:00.320 sure they're really working while they're at home? War? Is 0:14:00.320 --> 0:14:03.520 this more about remote we're a cultivator like remote war 0:14:03.840 --> 0:14:08.120 or guru like really thinking about how flexible we can 0:14:08.920 --> 0:14:11.400 be in terms of how we work. Because I feel 0:14:11.400 --> 0:14:13.280 like there are companies that embrace it and all of 0:14:13.280 --> 0:14:14.640 a sudden they're like, oh, no, you've got to get 0:14:14.640 --> 0:14:17.880 back to the office, like it's back and forth so much. Yeah. Well, 0:14:17.920 --> 0:14:21.200 and I think, you know, to try and answer your question, 0:14:21.360 --> 0:14:24.640 I think it's going to start with the ladder right, like, 0:14:25.160 --> 0:14:28.400 this is an attempt to recognize that the workforce has changed, 0:14:28.840 --> 0:14:34.040 the workplace has changed. Can we get a flexible executive 0:14:34.160 --> 0:14:38.560 style thinking talent sort of in charge of these challenges 0:14:39.160 --> 0:14:42.680 that the workforce UM is going to face. I think 0:14:42.720 --> 0:14:45.120 that's where the position probably is going to start. But 0:14:45.200 --> 0:14:48.760 then I think it probably if we think out, you know, 0:14:48.840 --> 0:14:51.080 down the line here a couple of years, I think 0:14:51.080 --> 0:14:53.640 it has the potential to put you know, to potentially 0:14:53.640 --> 0:14:55.520 become a little bit more of that enforcer to be 0:14:55.560 --> 0:14:58.480 like how many people are actually online doing their job 0:14:59.040 --> 0:15:01.320 right now. But I don't think starting there necessarily. I 0:15:01.320 --> 0:15:05.520 think I think that's potentially where it could go. But Matt, 0:15:06.320 --> 0:15:08.640 you want to ask about Yeah, I just want Matt, 0:15:08.680 --> 0:15:10.720 I want to bring you back in and and talk 0:15:10.760 --> 0:15:13.600 about the survey. And you know, a lot of this 0:15:13.720 --> 0:15:19.560 is rooted in this um uh Cowen Partners who said 0:15:19.640 --> 0:15:21.360 in the you know, in your story that you know 0:15:21.400 --> 0:15:23.520 this is one of the ten most on after management 0:15:23.600 --> 0:15:25.960 jobs right now. And and so talk to me because 0:15:26.400 --> 0:15:28.560 part of me thinks is, like we put this in 0:15:28.600 --> 0:15:30.480 the headline a little bit. If this is truly like 0:15:30.520 --> 0:15:32.480 a shortcut to the C suite, there's gonna be a 0:15:32.520 --> 0:15:34.640 lot of talented people who are just going to be 0:15:34.800 --> 0:15:39.640 looking to change potentially career tracks. And like, so what 0:15:39.760 --> 0:15:44.280 kind of person fulfills this this job description currently? I 0:15:44.320 --> 0:15:48.040 mean you have to already have experienced leading large teams. 0:15:48.120 --> 0:15:51.480 That's sort of a seen a client on of this role. 0:15:51.520 --> 0:15:53.160 You have, you know, whether you've been running a call 0:15:53.200 --> 0:15:56.440 center or you've been running you know, um a factory 0:15:56.480 --> 0:15:59.600 or what have you um, Having experienced leading large teams 0:15:59.640 --> 0:16:02.920 I think is key on top of that. Certainly, you know, 0:16:03.000 --> 0:16:07.480 communication skills are are you very much necessary here? You're 0:16:07.480 --> 0:16:09.320 going to be talking to a lot of people remotely 0:16:09.360 --> 0:16:12.080 Obviously you might be you know, overseeing folks that you 0:16:12.160 --> 0:16:16.280 never actually see in person. Um, so that's you know 0:16:16.440 --> 0:16:19.040 key as well. And then just sort of having you know, 0:16:19.040 --> 0:16:21.680 knowing the ins and outs of all the various companies 0:16:21.720 --> 0:16:25.280 workforce policies. You know you're gonna be handling a compensation 0:16:25.320 --> 0:16:28.120 issues might come up, tax issues might come up. What 0:16:28.200 --> 0:16:31.640 if a remote worker moves from California to Texas or 0:16:31.760 --> 0:16:34.560 to Florida, you know what happens there. So they're going 0:16:34.600 --> 0:16:35.760 to kind of need to be a bit of a 0:16:35.800 --> 0:16:39.680 savant in terms of all the companies, various workplace policies 0:16:39.920 --> 0:16:42.040 and that you think that might lend themselves to You know, 0:16:42.120 --> 0:16:45.040 this person coming from the HR department, and while they 0:16:45.120 --> 0:16:48.240 might have HR experience, it doesn't necessarily mean this has 0:16:48.280 --> 0:16:51.800 to be, you know, an HR career person taking this world. 0:16:51.800 --> 0:16:54.920 They could be coming from operations or sales or just 0:16:54.960 --> 0:16:57.880 about anywhere. I do wonder too, Matt, if it's akin 0:16:57.960 --> 0:17:01.720 to chief financial officers got elevated after the financial crisis 0:17:01.880 --> 0:17:06.560 chief sustainability officers. I'm increasingly having conversations with them with 0:17:06.680 --> 0:17:10.280 other C suite officials, and they're both like executive vice presidents, 0:17:10.280 --> 0:17:12.919 they're on the same level. Is there this remote works 0:17:12.960 --> 0:17:16.080 are that all of a sudden becomes a big player 0:17:16.160 --> 0:17:18.000 in the C suite kind of part of the core 0:17:18.400 --> 0:17:21.679 that's running the company. I mean, it might be, but 0:17:21.760 --> 0:17:23.359 you've got to be carefully. I mean, think of all 0:17:23.359 --> 0:17:26.360 the attention we've paid to chief diversity officers. But I've 0:17:26.359 --> 0:17:29.000 been told and plenty of studies have shown that that 0:17:29.119 --> 0:17:31.800 role can often be a bit of a backward career wise. 0:17:31.880 --> 0:17:33.760 You know, you're kind of blamed for everything and you 0:17:33.800 --> 0:17:36.520 get credit for nothing. So there's a lot a lot 0:17:36.560 --> 0:17:39.960 of turnover in that chief diversity officer role. So, um, 0:17:40.040 --> 0:17:42.120 you know, with this role specifically, I think, of course, 0:17:42.160 --> 0:17:45.840 if you do it well, if productivity soars under your 0:17:46.000 --> 0:17:49.760 purview as uh, you know, as remote workings are, then yes, 0:17:49.840 --> 0:17:52.320 you could certainly be uh in line for you know, 0:17:52.359 --> 0:17:55.960 a C suite position. But again, you know, the jury 0:17:56.000 --> 0:17:57.480 still have. We got to see some people that have 0:17:57.480 --> 0:18:00.760 some actual experience in these roles and it keep you know, remember, 0:18:00.760 --> 0:18:04.320 it's keeping people engaged and satisfied as well. It's not 0:18:04.440 --> 0:18:08.359 just about okay, it's productivity of twenty Yeah. Well, to 0:18:08.440 --> 0:18:10.960 that end, I do wonder to what extent this type 0:18:11.000 --> 0:18:13.240 of job is permanent. As you point on your piece, 0:18:13.240 --> 0:18:15.000 and this is something I did not know. The term 0:18:15.040 --> 0:18:18.159 telecommuting was actually coined by a NASA worker in the 0:18:18.200 --> 0:18:20.280 early nineteen seventies, and you do point out that in 0:18:21.440 --> 0:18:25.320 Yahoo abruptly ended its long standing telecommuting policy Um, that 0:18:25.440 --> 0:18:27.240 was years ago. I wonder though, if if this time 0:18:27.280 --> 0:18:28.919 is different, if this is the turning point where the 0:18:28.960 --> 0:18:32.399 American workforce is distributed, Well, we're definitely going to be 0:18:32.400 --> 0:18:34.840 more distributed. Yeah, I think that that is a lasting 0:18:34.960 --> 0:18:38.120 change in the pandemic in terms of yeah, certain terms 0:18:38.160 --> 0:18:40.800 of the sustainability of this job specifically, though, yes, we 0:18:40.840 --> 0:18:43.119 do say and I spoke to an expert in HR 0:18:43.200 --> 0:18:45.280 issues at Cornell who said, hey, you know, if you 0:18:45.359 --> 0:18:48.040 do this job too well, you might make yourself redundant 0:18:48.080 --> 0:18:49.840 and be out of a job. But that was a 0:18:49.840 --> 0:18:51.760 bit tongue in chic. I think there's always going to 0:18:52.080 --> 0:18:54.679 going to be a need for somebody who really, you know, 0:18:54.720 --> 0:18:57.320 whose job it is to make sure that the remote workforce, 0:18:57.640 --> 0:19:00.719 especially if it's one in five workers. Why color workers 0:19:00.760 --> 0:19:03.800 moving forward? You know, they're engaged, they're satisfied, they know 0:19:03.880 --> 0:19:06.840 what the company expects of them. Um, you know, and 0:19:06.880 --> 0:19:09.760 the companies can you know, see it through here. Definitely 0:19:09.760 --> 0:19:12.399 saw that companies are trying to figure the way forward 0:19:12.440 --> 0:19:15.159 and who they needed management to kind of, you know, 0:19:15.280 --> 0:19:18.399 see that way at their companies. Joe Webber, thank you 0:19:18.440 --> 0:19:21.000 so much, editor at Bloomberg Business Week on the remote 0:19:21.040 --> 0:19:23.520 access in Brooklyn, along with Matt Boyle, who has used 0:19:23.520 --> 0:19:27.000 at US retail reporter, also Bloomberg News senior reporter for Management, 0:19:27.080 --> 0:19:33.760 joining us on the phone from New York City. This 0:19:34.160 --> 0:19:37.880 is Bloomberg Business Week with Carol Masser and Bloomberg Quick 0:19:37.920 --> 0:19:43.040 Takes Tim Stinovik on Bloomberg Radio. So top of mind 0:19:43.080 --> 0:19:45.119 for us on this Monday. We've actually been talking about 0:19:45.200 --> 0:19:47.639 a lot of things when it comes to China specifically, 0:19:47.920 --> 0:19:49.880 but the US and China holding their first high level 0:19:49.920 --> 0:19:52.920 talks in months and in doing so highlighting deep differences, 0:19:53.119 --> 0:19:55.720 really suggesting once again the world's two biggest economies haven't 0:19:55.800 --> 0:19:59.560 quite found a clear path for improving their increasingly strained ties. 0:19:59.560 --> 0:20:02.320 So writing about that is our own Bloomberg New Economy 0:20:02.400 --> 0:20:05.080 Editorial director Andy Brown. He joins us here in our 0:20:05.119 --> 0:20:09.840 interactive Broker Studio, you have a great column about going 0:20:09.880 --> 0:20:12.960 back several decades and how ping pong actually solved a 0:20:12.960 --> 0:20:15.000 lot of what ailed the U. S And China in 0:20:15.000 --> 0:20:19.359 their relationship that doesn't work anymore. I'm afraid it doesn't. 0:20:19.800 --> 0:20:23.280 Um You know this was it was almost exactly fifty 0:20:23.359 --> 0:20:28.879 years ago when a US amateur ping pong group led 0:20:28.920 --> 0:20:33.199 by a weed smoking hippie. I love it already got 0:20:33.240 --> 0:20:36.239 an invitation. This isn't a Netflix series, and he should be. 0:20:36.520 --> 0:20:39.120 It's so improbable. I mean, they were in they were 0:20:39.119 --> 0:20:43.159 in Tokyo in a ping pong match, Joe and lie that. 0:20:43.240 --> 0:20:46.600 Then Chinese premier sees them and says, hey, we should 0:20:46.640 --> 0:20:50.560 invite them over to Beijing. And of course the intention 0:20:50.600 --> 0:20:53.080 was to break the ice with the US, and it 0:20:53.160 --> 0:20:56.720 led to Henry Kissinger's visit to China and the whole 0:20:56.720 --> 0:21:00.560 opening of China and US Chinese diplomatic relations. But the 0:21:00.600 --> 0:21:03.720 point I was making in in in my piece is 0:21:03.800 --> 0:21:06.640 that the reason these two countries got together is because 0:21:06.680 --> 0:21:09.280 they had a common enemy, and that was the Soviet Union. 0:21:09.760 --> 0:21:12.880 That the Soviet Union and China had split. China needed 0:21:12.920 --> 0:21:16.560 a friend. The US, for its part, needed a counterweight 0:21:16.680 --> 0:21:22.960 to Soviet expansionism in Asia. When the Soviet Union collapses, 0:21:23.320 --> 0:21:28.440 the raison detra for the relationship collapses and outcomes all 0:21:28.520 --> 0:21:32.159 of the issues that are being suppressed for decades, like 0:21:32.880 --> 0:21:36.720 human rights. So if you look now what just happened 0:21:36.720 --> 0:21:39.840 in Tianjin with this, with this visit by Wendy Sherman, 0:21:39.880 --> 0:21:45.879