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Speaker 1: Bloomberg Audio Studios, Podcasts, radio News.

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Speaker 2: We're joined now by former Massachusetts Governor Daval Patrick, who

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Speaker 2: is here with us in studio. Governor, great to see you,

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Speaker 2: Thank you so much, Thank you for coming in. It's

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Speaker 2: hard to acknowledge the week that it is being had

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Speaker 2: here in Chicago without.

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Speaker 1: Has been just a week.

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Speaker 2: Well, I guess it's been two days. But you know,

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Speaker 2: these are stacks. Yeah, the last four weeks I think

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Speaker 2: has probably felt like a year to many, but it

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Speaker 2: is historic in nature. We're about to see not just

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Speaker 2: a woman, but a woman of color for the first

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Speaker 2: time accept the Democratic nomination for president, and there is

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Speaker 2: obviously very charged language on the other side of this campaign.

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Speaker 2: How should we be thinking about the politics of race

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Speaker 2: in this election cycle, especially given the candidacy of Kambala Harris.

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Speaker 1: Well, I think, first of all, the there's probably more

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Speaker 1: race in our politics than I'd like, and I think

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Speaker 1: probably most people would would like. But I love firsts

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Speaker 1: as one and I think I feel incredibly blessed at

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Speaker 1: a time like this to live in a country where

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Speaker 1: you can be a Kamala Harris and come from what

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Speaker 1: she's come from and become the nominee of the Democratic

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Speaker 1: Party for President of the United States, and I think

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Speaker 1: she will win, and I think she'll do a great job.

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Speaker 1: I feel the same kind of elation about Tim Walls,

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Speaker 1: who grew up on a farm I think in Nebraska

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Speaker 1: and has lifted himself and been in service like Kamala

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Speaker 1: Harris of lifting others, and has the opportunity now to

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Speaker 1: be the Democratic nominee for vice president. That is an

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Speaker 1: American story, and it is in the instance of Kamala Harris,

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Speaker 1: associated with race, but it is a story that once

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Speaker 1: was told more often in this country than any other

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Speaker 1: country on Earth. And I'm a Democrat for some of

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Speaker 1: the reasons that Frank They've been talking about that we've

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Speaker 1: got to create in the collaboration between government and the

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Speaker 1: private sector, circumstances that permit people not just to imagine

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Speaker 1: a different place for themselves, but actually practically to reach

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Speaker 1: for it.

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Speaker 3: People should know you were only the second black man

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Speaker 3: elected governor in the United States of America. I had

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Speaker 3: the pleasure of covering you for some time as the

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Speaker 3: governor of Massachusetts.

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Speaker 1: Thank you, Joe.

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Speaker 3: I also remember what happened when Danielle Allen tried to

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Speaker 3: run for governor she dropped out of the race because

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Speaker 3: she said there was no path. What about the challenges

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Speaker 3: specifically facing women of color, black women trying to reach

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Speaker 3: higher office.

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Speaker 1: Well, first of all of Danielle, who is immensely talented,

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Speaker 1: I hope she'll come back into politics. I don't know

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Speaker 1: that the only factor in her decision to drop out

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Speaker 1: was being a woman of color. I think probably I

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Speaker 1: stayed in because I didn't know any better. It was

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Speaker 1: my first time running for anything. You remember, Joe, and

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Speaker 1: our dynamic at home in Massachusetts, I would say is

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Speaker 1: less Democrat Republican than it is the inside or outsider

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Speaker 1: by the way, I think that's the dynamic increasingly all

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Speaker 1: over the country. And so I think now having said that,

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Speaker 1: I think there are special challenges and maybe opportunities for

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Speaker 1: the Harris Walls candidacy because it's such a short period

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Speaker 1: of time and they will have to do some things

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Speaker 1: that aren't always done in our kind of unlimited political campaigning,

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Speaker 1: and a lot more direct to voters, a lot more direct,

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Speaker 1: a lot more volunteer organizing that's outside the campaign, which

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Speaker 1: I think has been one of the most inspiring parts

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Speaker 1: of this of this experience, she's finding her voice. We

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Speaker 1: did the first event six days I think after the

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Speaker 1: torch was passed in Western Massachusetts, and she showed up.

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Speaker 1: It was absolutely electric. I see her now at podium

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Speaker 1: and she seems a lot more relaxed. He's paying less

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Speaker 1: attention to the teleprompter. So there are those challenges and

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Speaker 1: converting all this energy and excitement to actual organization and

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Speaker 1: turn out. That's not a small thing. But as I say,

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Speaker 1: I think a lot of other folks are taking that

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Speaker 1: on themselves outside the campaign, and I think they will

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Speaker 1: have to rely on some of us just doing it

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Speaker 1: on our own.

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Speaker 2: You, of course have had a storied career in politics,

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Speaker 2: but you now also work in business and come on

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Speaker 2: Bloomberg for that reason and others. How do you consider

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Speaker 2: what a Kamala Harris presidency would look like and what

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Speaker 2: kind of investment opportunities or the way in which it

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Speaker 2: may change the business climate? Knowing specifically there's been a

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Speaker 2: focus on democratic values for you have a sera specifically,

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Speaker 2: how does that how do you see her reflected in

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Speaker 2: the business world.

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Speaker 1: Well, so to the first to the notion of democratic values,

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Speaker 1: and I use that term in a nonpartisan way, the

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Speaker 1: notion that communities that people that place all matter, they

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Speaker 1: all count. One of the things we do at the

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Speaker 1: Vistria Group, and that I did at the fund that

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Speaker 1: I founded at Bank Capital, so called Impact Investing Fund,

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Speaker 1: was invest in ways that demonstrated you didn't have to return,

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Speaker 1: you didn't have to exchange superior financial return for stakeholder

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Speaker 1: engagement and stakeholder positive stakeholder impact. And I think that

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Speaker 1: is important to long term value. It's also important to

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Speaker 1: the long term success of businesses. What I want to

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Speaker 1: see going forward is a lot more conspicuous collaboration with

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Speaker 1: the business and the not for profit community. I'm not

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Speaker 1: just talking about how to regulate, or the importance of regulating,

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Speaker 1: as we used to say in Massachusetts at the speed

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Speaker 1: of business, so it's not a barrier, it's an enabler.

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Speaker 1: But I mean just really trying to identify what the

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Speaker 1: opperation tunities are, How, for example, you leverage these enormous

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Speaker 1: new tools in the Infrastructure Bill and the Chips and

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Speaker 1: Science Act and in the Rescue Plan alongside private sector

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Speaker 1: assets and investment to create lasting economic growth, because that

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Speaker 1: is a part of that story of opportunity in this

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Speaker 1: country too. Right, we have to have an economy that grows,

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Speaker 1: as the President says and I have said, it has

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Speaker 1: to grow out to the middle and the marginalized and

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Speaker 1: not just up to the well connected.

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Speaker 3: Well, it's nice to see you here in Chicago. People

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Speaker 3: might not realize your hometown.

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Speaker 1: Isn't it It is here.

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Speaker 3: We are. It is nice to see it's good to

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Speaker 3: be here.

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Speaker 1: Thank you, thanks for having me on.

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Speaker 3: Here at the table. Deval Patrick, the former governor of

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Speaker 3: Massachusetts at the DNC here in the Chicago