1 00:00:02,520 --> 00:00:10,160 Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News. Welcome to the Bloomberg 2 00:00:10,240 --> 00:00:15,920 Speaker 1: This Weekend Podcast with David Gura, Christina Raffini, and Lisa Matteo. 3 00:00:17,680 --> 00:00:20,560 Speaker 2: Thanks for joining us for today's selection of conversations from 4 00:00:20,600 --> 00:00:20,959 Speaker 2: the show. 5 00:00:21,200 --> 00:00:23,479 Speaker 3: You can listen to our favorite discussions right here on 6 00:00:23,520 --> 00:00:25,800 Speaker 3: the podcast, but also make sure to join us live 7 00:00:25,960 --> 00:00:28,960 Speaker 3: every Saturday and Sunday morning starting at seven am Easter. 8 00:00:29,160 --> 00:00:32,760 Speaker 4: We're on Bloomberg Television, Radio and the Bloomberg Business App, 9 00:00:33,040 --> 00:00:38,240 Speaker 4: bringing you unique takes and in depth interviews on news, politics, lifestyle, 10 00:00:38,360 --> 00:00:39,120 Speaker 4: and culture. 11 00:00:40,920 --> 00:00:43,279 Speaker 2: First, we want to go to our colleague in Washington, 12 00:00:43,680 --> 00:00:46,000 Speaker 2: that's Jeff Mason, to talk about this breaking news and 13 00:00:46,080 --> 00:00:47,440 Speaker 2: release and of the strait. 14 00:00:47,159 --> 00:00:47,800 Speaker 5: Of horn Mows. 15 00:00:47,880 --> 00:00:49,760 Speaker 2: Jeff, we're so glad to have you back with us 16 00:00:49,800 --> 00:00:52,760 Speaker 2: after a brief Jeff Mason, lest few weeks. 17 00:00:52,800 --> 00:00:55,120 Speaker 5: I know you had some time off, well well deserved. 18 00:00:55,720 --> 00:00:56,600 Speaker 5: I took a vacation. 19 00:00:56,920 --> 00:01:00,400 Speaker 6: Yeah, yeah, it's outrageous, but it's good to be back. 20 00:01:00,480 --> 00:01:00,760 Speaker 6: Thank you. 21 00:01:00,840 --> 00:01:01,280 Speaker 5: Cassina. 22 00:01:01,520 --> 00:01:03,960 Speaker 2: Nobody asked us if we approve that, but you have 23 00:01:04,120 --> 00:01:06,920 Speaker 2: definitely deserved it. I do want to ask you about 24 00:01:06,920 --> 00:01:11,440 Speaker 2: this strike that the US took in reciprocation for what 25 00:01:11,480 --> 00:01:14,039 Speaker 2: happened in the Strait. It seems kind of designed to 26 00:01:14,120 --> 00:01:17,160 Speaker 2: show that, you know, yes, the US responded without blowing 27 00:01:17,240 --> 00:01:20,480 Speaker 2: up anything too significant or frankly blowing up these negotiations. 28 00:01:20,520 --> 00:01:21,880 Speaker 5: But I wonder what your take was on that. 29 00:01:22,480 --> 00:01:25,480 Speaker 6: Yeah, I think your analysis is right. Certainly, the US 30 00:01:26,120 --> 00:01:29,199 Speaker 6: wants to show Iran that it's still going to play 31 00:01:29,440 --> 00:01:33,040 Speaker 6: if there are attacks or if there are violations of 32 00:01:33,080 --> 00:01:36,240 Speaker 6: the ceasefire that they find unacceptable. And the President was 33 00:01:36,280 --> 00:01:38,080 Speaker 6: sort of hinting about that and the clip that she 34 00:01:38,160 --> 00:01:43,360 Speaker 6: played earlier when he was chatting with reporters yesterday. But yeah, 35 00:01:43,640 --> 00:01:46,080 Speaker 6: they also and when I say they, I mean the 36 00:01:46,160 --> 00:01:50,160 Speaker 6: United States and the Trump administration does not want to 37 00:01:50,600 --> 00:01:55,480 Speaker 6: unnecessarily undermine this deal that is so important to President Trump, 38 00:01:55,560 --> 00:01:58,840 Speaker 6: this sort of shaky ceasefire deal that is in place 39 00:01:59,200 --> 00:02:04,560 Speaker 6: while they continue to negotiate a broader nuclear deal related 40 00:02:04,240 --> 00:02:09,840 Speaker 6: to the MoU that led to the fighting ceasing or stopping. 41 00:02:10,240 --> 00:02:14,120 Speaker 6: But I do think it's worth underscoring how shaky that 42 00:02:14,160 --> 00:02:17,600 Speaker 6: deal is and the politics of that for President Trump 43 00:02:17,680 --> 00:02:22,000 Speaker 6: is he has roughly sixty days to have Jade Vance 44 00:02:22,440 --> 00:02:25,639 Speaker 6: come up with a longer term agreement. Is such that 45 00:02:26,600 --> 00:02:28,960 Speaker 6: you got the midterms just coming right up, and he's 46 00:02:29,000 --> 00:02:32,080 Speaker 6: expected to be doing a lot of campaigning in the fall, 47 00:02:32,480 --> 00:02:35,600 Speaker 6: right around the time when a nuclear deal could either 48 00:02:35,639 --> 00:02:37,960 Speaker 6: be being announced or falling apart. 49 00:02:38,240 --> 00:02:39,440 Speaker 3: Jeff, I want to go back to the shake and 50 00:02:39,440 --> 00:02:41,200 Speaker 3: as the deal that you just mentioned, in the role 51 00:02:41,280 --> 00:02:43,400 Speaker 3: that the Vice President is playing in these talks. I'll 52 00:02:43,400 --> 00:02:45,880 Speaker 3: read a tweet from the Vice President. Ron signed a 53 00:02:45,919 --> 00:02:48,720 Speaker 3: ceasefire agreement. We have honored it, he writes. If they 54 00:02:48,760 --> 00:02:51,600 Speaker 3: have disagreements about how the MoU is being applied, they 55 00:02:51,639 --> 00:02:54,320 Speaker 3: can pick up the phone, but violence will be met 56 00:02:54,600 --> 00:02:57,320 Speaker 3: with violence. I want to ask you just about sort 57 00:02:57,320 --> 00:02:59,760 Speaker 3: of how the White House sees these talks unfolding. So 58 00:03:00,280 --> 00:03:02,360 Speaker 3: it was just last weekend we saw that initial meeting 59 00:03:02,400 --> 00:03:04,359 Speaker 3: where we saw the Iranians and the US with the 60 00:03:04,400 --> 00:03:07,200 Speaker 3: Kataris in Pakistani's kind of laying out a path forward. 61 00:03:07,240 --> 00:03:10,720 Speaker 3: Here we are now many days into the sixty day period. 62 00:03:10,760 --> 00:03:12,360 Speaker 3: Your sense of sort of where things are headed, and 63 00:03:12,360 --> 00:03:14,320 Speaker 3: then there is this kind of overarching sense of confusion 64 00:03:14,320 --> 00:03:16,960 Speaker 3: with the Vice President is getting at here about whether 65 00:03:17,080 --> 00:03:19,520 Speaker 3: or not the ceasefire still holds it as shaky as 66 00:03:19,520 --> 00:03:20,960 Speaker 3: you said, you. 67 00:03:20,919 --> 00:03:22,840 Speaker 6: Know, We've talked a lot on this program over the 68 00:03:22,919 --> 00:03:26,840 Speaker 6: last few months about the contradictions in the rhetoric about 69 00:03:26,840 --> 00:03:28,679 Speaker 6: the Iran war coming out of the White House, and 70 00:03:28,720 --> 00:03:31,480 Speaker 6: I think this is another example of that. You had 71 00:03:31,760 --> 00:03:34,840 Speaker 6: Vice President Vance coming out of that last round of 72 00:03:34,880 --> 00:03:38,240 Speaker 6: talks speaking pretty positively about the fact that he felt 73 00:03:38,240 --> 00:03:41,560 Speaker 6: that a framework had been led for progress, but at 74 00:03:41,880 --> 00:03:44,360 Speaker 6: roughly the same time or right before or right after, 75 00:03:44,480 --> 00:03:49,640 Speaker 6: President Trump also threatened additional violence. And that's what Vice 76 00:03:49,640 --> 00:03:53,160 Speaker 6: President Vance is doing in that same post that you 77 00:03:53,240 --> 00:03:57,400 Speaker 6: were just referencing. So I think the right word is shaky. 78 00:03:57,520 --> 00:04:00,800 Speaker 6: It's a shaky, shaky ceasefire. And the talks are also 79 00:04:01,640 --> 00:04:05,960 Speaker 6: very fragile. That said, they are talking, and they are 80 00:04:06,360 --> 00:04:09,720 Speaker 6: doing what the MoU calls for in terms of sitting 81 00:04:09,760 --> 00:04:13,160 Speaker 6: down and going over next steps with regard to a 82 00:04:13,240 --> 00:04:16,720 Speaker 6: RAN's nuclear program. But again just for a context check, 83 00:04:17,320 --> 00:04:21,000 Speaker 6: remember that during the Obama administration, it took a year 84 00:04:21,000 --> 00:04:24,480 Speaker 6: and a half to put together what's called the JCPOA, 85 00:04:24,720 --> 00:04:29,360 Speaker 6: the Iran nuclear agreement that President Trump ended up jettising 86 00:04:29,680 --> 00:04:33,320 Speaker 6: jettisening when he got into power in his first term, 87 00:04:33,720 --> 00:04:38,640 Speaker 6: and with which this current deal is being compared in 88 00:04:38,680 --> 00:04:43,360 Speaker 6: part because it allows again for some inspections of the 89 00:04:43,480 --> 00:04:47,120 Speaker 6: Iranian nuclear facilities that have been away have gone away 90 00:04:47,560 --> 00:04:50,560 Speaker 6: as a result of the Obama deal being thrown in 91 00:04:50,600 --> 00:04:56,960 Speaker 6: the garbage. So again, shaky, but happening, and the fact 92 00:04:56,960 --> 00:05:01,320 Speaker 6: that they're happening is really crucially important for President Trump 93 00:05:01,360 --> 00:05:05,520 Speaker 6: and Vice President Vance's sort of political future and the 94 00:05:05,560 --> 00:05:08,480 Speaker 6: future of their party going into November. 95 00:05:09,000 --> 00:05:11,440 Speaker 2: Jeff, what is the status of those talks at the moment? 96 00:05:11,440 --> 00:05:14,839 Speaker 2: There were some mixed signals yesterday, evening the Swiss coming 97 00:05:14,880 --> 00:05:16,839 Speaker 2: out and saying there are no planned talks this week, 98 00:05:16,880 --> 00:05:19,720 Speaker 2: after hearing from a couple of indmustration people, maybe. 99 00:05:19,480 --> 00:05:21,840 Speaker 5: There were are people actively. 100 00:05:21,400 --> 00:05:24,039 Speaker 2: Speaking to each other in Switzerland or somewhere else in 101 00:05:24,040 --> 00:05:26,839 Speaker 2: the world. And then we heard for the first time 102 00:05:28,360 --> 00:05:32,040 Speaker 2: Kushner and Witkoff talk about, you know, there are technical 103 00:05:32,080 --> 00:05:33,600 Speaker 2: teams who are going to kind of take it from 104 00:05:33,640 --> 00:05:35,680 Speaker 2: here and work out the details. Do we have any 105 00:05:35,720 --> 00:05:37,920 Speaker 2: idea of who's on those technical teams or how big 106 00:05:37,960 --> 00:05:38,320 Speaker 2: they are. 107 00:05:39,279 --> 00:05:41,720 Speaker 6: I don't know the answer to that. I think you're 108 00:05:41,800 --> 00:05:45,479 Speaker 6: right to mention Kushner and Witkoff. Certainly the President has 109 00:05:45,800 --> 00:05:49,040 Speaker 6: appointed those two men his special envoys, Woodcoff being a 110 00:05:49,040 --> 00:05:52,840 Speaker 6: friend and Kushner being his son in law to spearhead 111 00:05:52,880 --> 00:05:56,080 Speaker 6: these talks, just as they were spearheading the talks with 112 00:05:56,200 --> 00:05:59,640 Speaker 6: Iran before the war started. And there is I think 113 00:05:59,680 --> 00:06:01,920 Speaker 6: not a small amount of irony in the fact that 114 00:06:02,560 --> 00:06:06,440 Speaker 6: they were the lead negotiators at a time when they 115 00:06:06,520 --> 00:06:09,280 Speaker 6: then pulled back and said, hey, Iran is not serious 116 00:06:09,320 --> 00:06:12,080 Speaker 6: about giving up its nuclear program. This of course was 117 00:06:12,120 --> 00:06:15,560 Speaker 6: several months ago now, and that led to President Trump 118 00:06:15,760 --> 00:06:18,920 Speaker 6: deciding on a green light for a war against Iran 119 00:06:18,960 --> 00:06:22,640 Speaker 6: with Israel. But to the specifics that you're asking Christina 120 00:06:22,720 --> 00:06:26,600 Speaker 6: right now, I can't tell you who is in which 121 00:06:26,680 --> 00:06:29,279 Speaker 6: you know, who are the lead or who are the 122 00:06:29,279 --> 00:06:33,200 Speaker 6: technical negotiators if it's not those two. That has been 123 00:06:33,240 --> 00:06:36,880 Speaker 6: something that I know some Democrats and some Iranian experts 124 00:06:36,880 --> 00:06:40,320 Speaker 6: from the Obama administration have been looking at closely because 125 00:06:40,360 --> 00:06:44,760 Speaker 6: of again the fact that many many people were involved 126 00:06:44,960 --> 00:06:50,359 Speaker 6: in putting together the agreement, the jc POA agreement, and 127 00:06:50,480 --> 00:06:53,760 Speaker 6: it's been you know too. I don't want to say 128 00:06:53,760 --> 00:06:57,359 Speaker 6: inexperienced people. I mean, Jared Christner certainly has some experience 129 00:06:57,400 --> 00:07:00,160 Speaker 6: from the first term in terms of diplomacy, but they 130 00:07:00,200 --> 00:07:05,280 Speaker 6: don't have the years of background that were part of 131 00:07:05,320 --> 00:07:08,680 Speaker 6: the staff that helped work out that first agreement. So 132 00:07:08,720 --> 00:07:10,640 Speaker 6: maybe there are some that have been pulled in from 133 00:07:10,720 --> 00:07:12,680 Speaker 6: the State Department, but I just don't know. 134 00:07:12,920 --> 00:07:13,160 Speaker 5: Jeff. 135 00:07:13,240 --> 00:07:15,480 Speaker 3: Let me ask you about Lebanon, because this kind of 136 00:07:15,560 --> 00:07:19,480 Speaker 3: complementary conflict between Israel and Lebanon is certainly integral to 137 00:07:19,520 --> 00:07:21,800 Speaker 3: the one between the US and Iran as well, and 138 00:07:21,840 --> 00:07:24,560 Speaker 3: there was kind of trilateral meeting that took place another one. 139 00:07:24,560 --> 00:07:26,560 Speaker 3: The first was unprecedented. This was a build on from 140 00:07:26,560 --> 00:07:31,080 Speaker 3: that involving Israel, Lebanon, and the United States. And they 141 00:07:31,120 --> 00:07:32,800 Speaker 3: also came out with a memo of understanding on the 142 00:07:32,840 --> 00:07:34,680 Speaker 3: heels of that. Let's take a listen to Israel's ambassador 143 00:07:34,680 --> 00:07:36,440 Speaker 3: here commenting on that deal, and I'll ask you a 144 00:07:36,520 --> 00:07:37,600 Speaker 3: question on the other side, Jeck. 145 00:07:37,960 --> 00:07:39,960 Speaker 7: Well, my concern that I expressed at the beginning of 146 00:07:40,000 --> 00:07:44,960 Speaker 7: the talks was about Iranian statements and Iranian actions basically 147 00:07:45,040 --> 00:07:48,800 Speaker 7: trying to conduct this proxy war against Israel continue it 148 00:07:48,880 --> 00:07:51,440 Speaker 7: after it reached MoU with the United States, and it 149 00:07:51,480 --> 00:07:54,200 Speaker 7: was very very important for the United States to make 150 00:07:54,240 --> 00:07:56,000 Speaker 7: it very clear and they did so during the course 151 00:07:56,000 --> 00:07:58,800 Speaker 7: of these talks that Iran will be kept out of 152 00:07:58,800 --> 00:08:04,040 Speaker 7: the Lebanon equation that we've achieved through this framework agreement. 153 00:08:04,880 --> 00:08:07,080 Speaker 3: Jeff, help us understand the importance of this. So Israel's 154 00:08:07,080 --> 00:08:09,480 Speaker 3: going to maintain the security zone in Lebanon, and we 155 00:08:09,480 --> 00:08:11,560 Speaker 3: have the Prime Minister of Israel saying that's a huge deal. 156 00:08:11,640 --> 00:08:14,520 Speaker 3: Israel's continued presence in the security zone in southern Lebanon 157 00:08:14,560 --> 00:08:18,200 Speaker 3: a major achievement according to Prime Minister Netanyahu. What does 158 00:08:18,240 --> 00:08:20,400 Speaker 3: this mean again in the broader terms of sort of 159 00:08:20,440 --> 00:08:22,760 Speaker 3: where we're seeing these negotiations between the US and ran 160 00:08:22,840 --> 00:08:25,200 Speaker 3: taking place. Again, this was such a crucial part of 161 00:08:26,000 --> 00:08:28,080 Speaker 3: getting to that memo of understanding something that Ron thought 162 00:08:28,120 --> 00:08:28,920 Speaker 3: was hugely important. 163 00:08:29,760 --> 00:08:34,040 Speaker 6: Yeah, I think a pro post shaky the threat or 164 00:08:34,080 --> 00:08:36,880 Speaker 6: the looming thread of a distional conflict between Israel and 165 00:08:36,920 --> 00:08:43,120 Speaker 6: Lebanon which has been hanging over this entire ceasefire. That's 166 00:08:43,120 --> 00:08:45,959 Speaker 6: the significance is that they're trying to take that threat away. 167 00:08:46,559 --> 00:08:49,600 Speaker 6: And the fact that you're hearing positive statements from Israel 168 00:08:49,600 --> 00:08:53,960 Speaker 6: about it is also very interesting because the Israelis have 169 00:08:54,080 --> 00:08:59,040 Speaker 6: certainly signaled that they weren't entirely on board with President 170 00:08:59,040 --> 00:09:03,600 Speaker 6: Trump's agreement with Iran and the MoU and this gives 171 00:09:03,640 --> 00:09:07,600 Speaker 6: them some ability, as I think the ambassador was just saying, 172 00:09:07,679 --> 00:09:10,720 Speaker 6: or as Israel has said, to maintain a presence there, 173 00:09:10,800 --> 00:09:14,120 Speaker 6: while also giving the United States in Iran some assurance 174 00:09:14,200 --> 00:09:16,560 Speaker 6: that there's not going to be a big blow up 175 00:09:16,679 --> 00:09:20,160 Speaker 6: in the region between those two countries, and Hesbola of 176 00:09:20,240 --> 00:09:25,920 Speaker 6: course being an ally or an extension of Iranian forces 177 00:09:25,960 --> 00:09:28,640 Speaker 6: in that sense. So I think, David, to your question, 178 00:09:28,679 --> 00:09:32,480 Speaker 6: the broader significance is this still gives Israel a chance 179 00:09:32,559 --> 00:09:35,880 Speaker 6: to maintain that presence there that it wants, but also 180 00:09:36,080 --> 00:09:40,120 Speaker 6: provides at least temporarily some assurance to both Iran and 181 00:09:40,480 --> 00:09:43,360 Speaker 6: to the United States that while they are going on 182 00:09:43,440 --> 00:09:47,440 Speaker 6: to negotiate a broader nuclear agreement with each other, that 183 00:09:47,440 --> 00:09:49,800 Speaker 6: there's not going to be a blow up in the region. 184 00:09:50,480 --> 00:09:52,160 Speaker 2: Jeff, I want to pivot a little bit back to 185 00:09:52,320 --> 00:09:55,199 Speaker 2: domestic politics, but it's related. I promise you talked a 186 00:09:55,200 --> 00:09:57,079 Speaker 2: little bit about how you know, sixty days from now, 187 00:09:57,080 --> 00:09:59,560 Speaker 2: we're sixty days closer to that midterm. This is an 188 00:09:59,600 --> 00:10:03,360 Speaker 2: increased unpopular conflict, partially because Americans, as we keep talking 189 00:10:03,360 --> 00:10:06,880 Speaker 2: about consistently, are concerned about kitchen table issues, the price 190 00:10:06,920 --> 00:10:08,720 Speaker 2: of fuel, the price of housing, and it's It's all 191 00:10:08,800 --> 00:10:11,959 Speaker 2: kind of related. As you see JD. Vance and possibly 192 00:10:12,000 --> 00:10:13,680 Speaker 2: Marco Rubio going out on the trail. You know, we 193 00:10:13,720 --> 00:10:16,040 Speaker 2: had this cage fight on the South Lawn, but there's 194 00:10:16,040 --> 00:10:18,040 Speaker 2: also been a literal cage fight. 195 00:10:18,120 --> 00:10:18,480 Speaker 5: Thank you. 196 00:10:18,600 --> 00:10:21,080 Speaker 2: But there's also a political cage fight kind of going 197 00:10:21,120 --> 00:10:24,960 Speaker 2: on between Rubio and Vance within this administration. And there's 198 00:10:24,960 --> 00:10:27,640 Speaker 2: some reporting out this week that Vance is maybe trying 199 00:10:27,679 --> 00:10:31,480 Speaker 2: to distance himself from this interventionist Trump policy and kind 200 00:10:31,520 --> 00:10:34,679 Speaker 2: of form a new, more moderate foreign policy as he 201 00:10:34,720 --> 00:10:38,320 Speaker 2: goes forward. What's going on here? Who is the heir apparent? 202 00:10:38,360 --> 00:10:40,320 Speaker 2: It seems to change every week, and can you just 203 00:10:40,360 --> 00:10:42,880 Speaker 2: explain the dynamics between those three in this administration? 204 00:10:43,720 --> 00:10:46,000 Speaker 6: Yeah, I mean, Christina, you know that if you say 205 00:10:46,040 --> 00:10:49,400 Speaker 6: domestic politics, you're going to get me excited. That's that's 206 00:10:49,800 --> 00:10:50,600 Speaker 6: what I love to tell you. 207 00:10:50,640 --> 00:10:52,319 Speaker 5: I know, Jeff, welcome back. We wanted to give you 208 00:10:52,320 --> 00:10:53,240 Speaker 5: a welcome back present. 209 00:10:53,280 --> 00:10:55,040 Speaker 6: Jump right in. And I've got some reporting I can 210 00:10:55,080 --> 00:10:56,560 Speaker 6: share with you on that. I spoke to a White 211 00:10:56,559 --> 00:11:01,520 Speaker 6: House official this last week of much about the Rubio 212 00:11:01,960 --> 00:11:06,840 Speaker 6: Vance dynamic, and I have spoken to one source in 213 00:11:06,840 --> 00:11:09,760 Speaker 6: the last several months who had said he expected that 214 00:11:09,880 --> 00:11:13,040 Speaker 6: Rubio is going to resign at the end of this term. 215 00:11:13,480 --> 00:11:15,000 Speaker 6: Excuse me, not the end of this term, but at 216 00:11:15,040 --> 00:11:18,840 Speaker 6: the end of this year and launch his own presidential campaign. 217 00:11:18,960 --> 00:11:21,800 Speaker 6: I asked that of the White House official who said, 218 00:11:22,160 --> 00:11:24,600 Speaker 6: that's not what he's expecting. That he takes Marco Rubio 219 00:11:24,640 --> 00:11:26,800 Speaker 6: at his word when he says if JD. Vance runs 220 00:11:26,800 --> 00:11:29,719 Speaker 6: for president, that he's not going to run against him, 221 00:11:29,760 --> 00:11:32,000 Speaker 6: And he said he thought that the more likely outcome 222 00:11:32,120 --> 00:11:34,880 Speaker 6: is that the two men run together, and that the 223 00:11:34,880 --> 00:11:38,600 Speaker 6: two men men basically clear the Republican field of giving 224 00:11:38,640 --> 00:11:40,720 Speaker 6: them a chance to jump right in to start raising 225 00:11:40,800 --> 00:11:44,680 Speaker 6: money for the general election. Now all of that is 226 00:11:44,720 --> 00:11:49,280 Speaker 6: to TBD, but it's certainly fascinating because of the dynamics 227 00:11:49,320 --> 00:11:51,959 Speaker 6: that you were just raising. Marco Rubio has not been 228 00:11:52,280 --> 00:11:56,960 Speaker 6: the key negotiator as Secretary of State with the Iranians. 229 00:11:57,040 --> 00:11:57,600 Speaker 6: That's been JD. 230 00:11:57,800 --> 00:11:58,120 Speaker 5: Vance. 231 00:11:58,320 --> 00:12:01,160 Speaker 6: And if this turns out to be a big success, 232 00:12:01,520 --> 00:12:03,600 Speaker 6: then that's going to hand a success to Vance as 233 00:12:03,640 --> 00:12:08,280 Speaker 6: he goes into the presidential election at the end of 234 00:12:08,320 --> 00:12:11,679 Speaker 6: this year. If he doesn't, then Rubio will have an 235 00:12:11,679 --> 00:12:16,360 Speaker 6: advantage should Rubio decide to run himself of maybe creating 236 00:12:16,400 --> 00:12:18,960 Speaker 6: a little bit of distance between himself and this administration, 237 00:12:19,200 --> 00:12:22,440 Speaker 6: even as he of course has been a key player 238 00:12:22,600 --> 00:12:26,480 Speaker 6: in all things foreign policy, both as the Secretary of 239 00:12:26,520 --> 00:12:30,319 Speaker 6: State but also as the National Security advisor to the president. 240 00:12:31,360 --> 00:12:33,280 Speaker 3: And I should say he was on a trip this week, Jeff, 241 00:12:33,320 --> 00:12:35,080 Speaker 3: he was not. He was in the golf kind of 242 00:12:35,120 --> 00:12:37,559 Speaker 3: negotiating some of the stuff around this deal as well. 243 00:12:38,600 --> 00:12:40,040 Speaker 3: Is that any sign that he's going to become more 244 00:12:40,080 --> 00:12:41,480 Speaker 3: involved in the negotiations, He think. 245 00:12:42,200 --> 00:12:45,920 Speaker 6: I think it's just a sign that he's not involved. 246 00:12:46,080 --> 00:12:50,800 Speaker 6: He's not the main interlocutor, but he is. He is 247 00:12:50,880 --> 00:12:54,080 Speaker 6: not on the outside ring either. And the White House 248 00:12:54,120 --> 00:12:56,120 Speaker 6: official that I spoke to said that he and jd. 249 00:12:56,280 --> 00:12:59,679 Speaker 6: Vance download on a regular basis about the war and 250 00:12:59,720 --> 00:13:02,400 Speaker 6: about the negotiations, and that there's no daylight there. 251 00:13:02,640 --> 00:13:03,520 Speaker 3: I will give you. 252 00:13:03,440 --> 00:13:06,160 Speaker 8: Guys a heads up that in about forty five minutes 253 00:13:06,200 --> 00:13:09,080 Speaker 8: I've got a story hitting the Bloomberg terminal about the 254 00:13:09,120 --> 00:13:12,720 Speaker 8: strategy that the president and his administration are taking to 255 00:13:12,800 --> 00:13:15,320 Speaker 8: sell the war and some of the issues that that 256 00:13:15,360 --> 00:13:18,959 Speaker 8: creates in terms of political risk for President Trump and 257 00:13:19,000 --> 00:13:19,720 Speaker 8: for these folks. 258 00:13:19,720 --> 00:13:21,280 Speaker 6: So keep an eye out for that and maybe we 259 00:13:21,280 --> 00:13:22,320 Speaker 6: can talk about it tomorrow. 260 00:13:22,360 --> 00:13:24,160 Speaker 3: All right, very good. Keep an eye on the terminal 261 00:13:24,160 --> 00:13:28,480 Speaker 3: Bloomberg dot com Jeff Mason, nice teas there. Stay with 262 00:13:28,559 --> 00:13:41,640 Speaker 3: us for more on Bloomberg this weekend. Right after this, 263 00:13:44,040 --> 00:13:47,000 Speaker 3: AI has permitted nearly every aspect of society as we 264 00:13:47,040 --> 00:13:49,960 Speaker 3: all know, including that the ballot box is the US 265 00:13:50,000 --> 00:13:53,200 Speaker 3: nearest a crucial midterm election. Of flood of money is 266 00:13:53,320 --> 00:13:55,000 Speaker 3: already impacting the. 267 00:13:55,000 --> 00:13:57,760 Speaker 2: Races, and it's the focus of this weekend's big take 268 00:13:57,960 --> 00:14:01,680 Speaker 2: called AI is already reshaping US politics at every level. 269 00:14:01,679 --> 00:14:04,280 Speaker 2: One of the writers that story, Emily Burnbaum, joins us now. 270 00:14:04,559 --> 00:14:08,000 Speaker 2: Emily in the post Citizens United World. It already takes 271 00:14:08,040 --> 00:14:10,600 Speaker 2: a ton of money to win these elections. How are 272 00:14:10,640 --> 00:14:12,800 Speaker 2: AI and tech factoring in now? 273 00:14:14,200 --> 00:14:19,560 Speaker 9: This is the first cycle that AI has entered the political. 274 00:14:19,240 --> 00:14:20,120 Speaker 5: Arrange of the Chat. 275 00:14:20,240 --> 00:14:25,840 Speaker 9: Yeah, has entered the chat with as much money as 276 00:14:26,000 --> 00:14:30,200 Speaker 9: the crypto companies of the last cycle. So in total, 277 00:14:31,160 --> 00:14:35,400 Speaker 9: AI companies and AI investors have pledged two hundred and 278 00:14:35,440 --> 00:14:40,120 Speaker 9: seventy five million dollars towards these midterm elections via super packs. 279 00:14:40,200 --> 00:14:42,920 Speaker 9: So we have a super pack that's backed by the 280 00:14:42,960 --> 00:14:46,000 Speaker 9: president of Open AI and Mark Andriesen and Ben Horwitz, 281 00:14:46,160 --> 00:14:49,080 Speaker 9: and we have sort of a dueling pack that is 282 00:14:49,160 --> 00:14:55,200 Speaker 9: backed by Anthropic, and each of them are vying to 283 00:14:55,200 --> 00:14:59,640 Speaker 9: to boost candidates that are favorable to their AI regulation agenda. 284 00:15:00,040 --> 00:15:03,760 Speaker 9: This has become a central topic in these sears midterm elections. 285 00:15:04,040 --> 00:15:05,560 Speaker 3: We have an illustration of that for those who are 286 00:15:05,560 --> 00:15:08,360 Speaker 3: watching on television and streaming the show, just looking at 287 00:15:08,360 --> 00:15:09,960 Speaker 3: the amount of money that those two super packs in 288 00:15:10,000 --> 00:15:12,480 Speaker 3: particular have poured in, and really a crucible for that 289 00:15:13,040 --> 00:15:14,640 Speaker 3: has been right where we're sitting in the New York 290 00:15:14,680 --> 00:15:17,320 Speaker 3: twelve congressional district. We just had a primary here a 291 00:15:17,360 --> 00:15:21,120 Speaker 3: few days ago. Walk us through. I guess principally why 292 00:15:21,160 --> 00:15:23,280 Speaker 3: this was the place where all of this attention and 293 00:15:23,400 --> 00:15:27,320 Speaker 3: energy and yes, money was focused. Why the New York twelve. 294 00:15:27,840 --> 00:15:32,440 Speaker 9: Yes, so New York twelve crowded primary. And Alex Borez, 295 00:15:32,880 --> 00:15:36,680 Speaker 9: who's a state assemblies man. When he first announced his candidacy, 296 00:15:37,000 --> 00:15:40,120 Speaker 9: it was a long shot bid. But Alex Borres has 297 00:15:40,240 --> 00:15:43,040 Speaker 9: long been known to the AI companies because he helped 298 00:15:43,040 --> 00:15:46,360 Speaker 9: to write one of the country's first AI safety bills, 299 00:15:46,400 --> 00:15:48,840 Speaker 9: and that was a bill they lobbied very hard against, 300 00:15:48,880 --> 00:15:51,880 Speaker 9: particularly eight sixteen Z, which is behind one of the 301 00:15:51,920 --> 00:15:54,560 Speaker 9: super PACs. So they announced they were going to spend 302 00:15:54,600 --> 00:15:59,000 Speaker 9: ten million dollars to oppose his candidacy, and that prompted 303 00:15:59,120 --> 00:16:04,640 Speaker 9: a huge POxy war from AI safety activists and anthropic 304 00:16:04,840 --> 00:16:09,840 Speaker 9: and tech employees who want more AI regulation of the 305 00:16:09,880 --> 00:16:14,720 Speaker 9: technology they're creating. So money port in really quickly. So 306 00:16:14,920 --> 00:16:17,640 Speaker 9: the and recent backed pack ended up spending eight million 307 00:16:17,680 --> 00:16:22,480 Speaker 9: dollars against Borrez, but the AI safety community rallied behind him, 308 00:16:22,480 --> 00:16:26,680 Speaker 9: and ultimately they spent over twenty million dollars backing Boras. 309 00:16:26,800 --> 00:16:30,960 Speaker 9: So this is a really expensive house primary. Boras did 310 00:16:31,000 --> 00:16:33,760 Speaker 9: not win the race. He lost to Michael Lasher, who's 311 00:16:33,800 --> 00:16:36,160 Speaker 9: another well known New York political operative. 312 00:16:37,080 --> 00:16:39,120 Speaker 5: But ultimately the takeaway is. 313 00:16:39,080 --> 00:16:44,320 Speaker 9: Not necessarily that the AI companies won, but rather that 314 00:16:44,640 --> 00:16:46,800 Speaker 9: if in the races where they pledged to spend a 315 00:16:46,840 --> 00:16:51,040 Speaker 9: lot of money, they actually have well healed opponents ready 316 00:16:51,040 --> 00:16:53,320 Speaker 9: to spend in favor of that candidate. 317 00:16:53,400 --> 00:16:54,760 Speaker 3: Before we move on from the New York twelve, I 318 00:16:54,800 --> 00:16:58,840 Speaker 3: will say Michael Lasher was backed by Michael Bloomberg Jordy 319 00:16:58,920 --> 00:17:01,600 Speaker 3: Shaholder of BLOOMBERGILP. The he and company at Bloomberg News 320 00:17:01,600 --> 00:17:02,840 Speaker 3: well disclosed on board. 321 00:17:02,960 --> 00:17:06,080 Speaker 5: Yes exactly. I want to talk because it's not just 322 00:17:06,119 --> 00:17:06,880 Speaker 5: about money though. 323 00:17:07,000 --> 00:17:10,240 Speaker 2: We're also now in the era of deep fakes, and 324 00:17:10,280 --> 00:17:13,760 Speaker 2: these AI generated ads are kind of becoming more common. 325 00:17:14,160 --> 00:17:16,119 Speaker 2: And you point out there's this ad for a Republican 326 00:17:16,160 --> 00:17:21,280 Speaker 2: Louisiana congressional candidate which has supposed liberals including someone who 327 00:17:21,320 --> 00:17:24,800 Speaker 2: looks like Billie Eilish, and another ad depicts Texas Democrat 328 00:17:24,920 --> 00:17:28,800 Speaker 2: James tall Rico singing about transgender children. These are not real, 329 00:17:29,280 --> 00:17:32,000 Speaker 2: But how are these deep fikes impacting the vote? 330 00:17:33,680 --> 00:17:39,119 Speaker 9: So deep fakes in particular impact low information voters and 331 00:17:39,200 --> 00:17:43,520 Speaker 9: usually older voters. So a younger voter who understands what 332 00:17:43,560 --> 00:17:45,879 Speaker 9: AI looks like would have seen the video of James 333 00:17:45,880 --> 00:17:49,080 Speaker 9: tall Rico and known this looks like AI. This looks fake. 334 00:17:49,960 --> 00:17:54,679 Speaker 9: But there is some evidence coming out that older people, 335 00:17:54,880 --> 00:17:58,400 Speaker 9: not as familiar with the nuances of what AI generated 336 00:17:58,400 --> 00:18:01,400 Speaker 9: ads look like, could be fooled by some of these things, 337 00:18:01,560 --> 00:18:04,960 Speaker 9: and that could affect votes in some of these competitive primaries. 338 00:18:05,560 --> 00:18:08,320 Speaker 9: It's still yet to be seen. Like experts in the 339 00:18:08,359 --> 00:18:13,399 Speaker 9: space kind of caution from you know, experts in the 340 00:18:13,440 --> 00:18:18,760 Speaker 9: space say people are more informed than you might imagine, 341 00:18:18,840 --> 00:18:21,080 Speaker 9: so you know, maybe give people a little credit, But 342 00:18:21,960 --> 00:18:27,440 Speaker 9: what's definitely true is Democrats and Republicans both are betting 343 00:18:27,720 --> 00:18:31,320 Speaker 9: that this technology will help convince at least some voters. 344 00:18:31,440 --> 00:18:33,399 Speaker 2: Kin even if you know they're fake, I mean, people 345 00:18:33,480 --> 00:18:36,080 Speaker 2: find them funny and share them. So it's a new 346 00:18:36,119 --> 00:18:37,800 Speaker 2: way to kind of get your point across. Even if 347 00:18:37,800 --> 00:18:39,920 Speaker 2: people are laughing at it, I feel like it does 348 00:18:39,960 --> 00:18:41,120 Speaker 2: send some sort of a message. 349 00:18:41,240 --> 00:18:43,439 Speaker 3: Yeah, okay, so we've got the amount all of this 350 00:18:43,520 --> 00:18:46,080 Speaker 3: money being poured in. That's one facet of this AI election. 351 00:18:46,200 --> 00:18:48,920 Speaker 3: The other is these depickes that we were just talking about. 352 00:18:49,160 --> 00:18:51,080 Speaker 3: I think the three is just like AI as a 353 00:18:51,119 --> 00:18:53,520 Speaker 3: policy issue or as a political issue in this campaign, 354 00:18:53,520 --> 00:18:55,000 Speaker 3: And I wonder if you could talk about that as well. 355 00:18:55,080 --> 00:18:57,320 Speaker 3: So you know, on the show, we've talked about how 356 00:18:57,320 --> 00:18:59,960 Speaker 3: it's pushed up energy prices and caused a lot of dissatisfaction, 357 00:19:00,040 --> 00:19:01,840 Speaker 3: been concerned in a lot of communities across the. 358 00:19:01,760 --> 00:19:03,800 Speaker 5: Country, debates about these data centers totally. 359 00:19:04,040 --> 00:19:06,560 Speaker 3: How how is that manifest in these mid terms? How 360 00:19:06,600 --> 00:19:08,040 Speaker 3: is it likely to be manifest? Kind of looking to 361 00:19:08,080 --> 00:19:10,560 Speaker 3: the general elections, just the role that AI is going 362 00:19:10,600 --> 00:19:13,239 Speaker 3: to be playing as a political issue. 363 00:19:13,400 --> 00:19:16,600 Speaker 9: Right, I think consistently what we're hearing is that data 364 00:19:16,640 --> 00:19:22,280 Speaker 9: centers are the physical manifestation of anxiety voters have about 365 00:19:22,440 --> 00:19:25,959 Speaker 9: AI job loss related to AI energy prices. 366 00:19:25,520 --> 00:19:27,200 Speaker 5: Spiking due to the data centers. 367 00:19:27,359 --> 00:19:31,760 Speaker 9: So every single day, data centers become a more and 368 00:19:31,800 --> 00:19:34,560 Speaker 9: more potent issue in federal elections. So, you know, for 369 00:19:34,640 --> 00:19:37,480 Speaker 9: like the past year, they've been important at the local level, 370 00:19:37,560 --> 00:19:42,159 Speaker 9: but now people are looking to people in their congressional 371 00:19:42,160 --> 00:19:45,119 Speaker 9: candidates and you know, incumbents, and they're saying, well, what 372 00:19:45,160 --> 00:19:46,760 Speaker 9: are you going to do about this data center thing? 373 00:19:47,000 --> 00:19:49,040 Speaker 9: Are you going to make sure that you know, it 374 00:19:49,080 --> 00:19:52,520 Speaker 9: doesn't use up all our water? It doesn't, it doesn't 375 00:19:52,880 --> 00:19:57,400 Speaker 9: spike our utility bills. So what you're seeing is even 376 00:19:57,400 --> 00:20:00,760 Speaker 9: in some of these very competitive races, So thinking about 377 00:20:00,760 --> 00:20:04,840 Speaker 9: Pennsylvania governor's race, this is coming up, candidates are seeking 378 00:20:04,880 --> 00:20:07,280 Speaker 9: to distinguish themselves saying, I'm going to protect you from 379 00:20:07,359 --> 00:20:12,080 Speaker 9: data centers. My opponent's not going to And it's interesting 380 00:20:12,080 --> 00:20:15,840 Speaker 9: he doesn't go along partisan lines. It's not a left 381 00:20:15,920 --> 00:20:20,560 Speaker 9: right issue. It's sort of data centers. How are becoming 382 00:20:20,600 --> 00:20:24,800 Speaker 9: a proxy for you know, I'll protect you from the establishment, 383 00:20:24,920 --> 00:20:28,520 Speaker 9: from corporations trying to disrupt you know, what's happening in 384 00:20:28,560 --> 00:20:31,320 Speaker 9: your backyard. So data centers I think are the most 385 00:20:31,400 --> 00:20:34,840 Speaker 9: visible way that AI is coming up across the country. 386 00:20:35,680 --> 00:20:39,400 Speaker 9: And I think probably in twenty twenty eight, AI job 387 00:20:39,440 --> 00:20:41,760 Speaker 9: loss AA related job loss is going to be the 388 00:20:41,800 --> 00:20:46,120 Speaker 9: next big issue that people consider, even a kitchen table issues. 389 00:20:46,160 --> 00:20:48,120 Speaker 3: But I was talking with Mike Shepard, editor who does 390 00:20:48,119 --> 00:20:50,400 Speaker 3: a lot of AI editing for us, and I said, 391 00:20:50,400 --> 00:20:51,879 Speaker 3: what's what are the odds in twenty twenty eight we're 392 00:20:51,920 --> 00:20:54,600 Speaker 3: going to call that the AI elections? He was very 393 00:20:54,680 --> 00:20:56,280 Speaker 3: he was very clear that this is going to be 394 00:20:56,600 --> 00:20:59,160 Speaker 3: a thematic trend here in this election, the next one, 395 00:20:59,160 --> 00:21:00,520 Speaker 3: in the one one after that. 396 00:21:00,359 --> 00:21:01,880 Speaker 2: Was gonna be my question only we've got about twenty 397 00:21:01,920 --> 00:21:04,040 Speaker 2: seconds left, but we're focused on the midterms. 398 00:21:04,080 --> 00:21:04,199 Speaker 4: Now. 399 00:21:04,240 --> 00:21:06,359 Speaker 2: Do you expect this to be all exacerbated when it 400 00:21:06,359 --> 00:21:07,680 Speaker 2: comes to the next presidential race? 401 00:21:08,359 --> 00:21:12,000 Speaker 9: Absolutely? These midterms are just address rehearsal. Twenty twenty eight 402 00:21:12,080 --> 00:21:14,680 Speaker 9: is when we're going to really see AI policy come 403 00:21:14,720 --> 00:21:17,200 Speaker 9: to a head. Presidential candidates will have to stake out 404 00:21:17,200 --> 00:21:19,960 Speaker 9: their positions and we'll see which side winds. 405 00:21:20,359 --> 00:21:22,000 Speaker 5: All right, Emily vern Mom, thank you so much for 406 00:21:22,080 --> 00:21:22,480 Speaker 5: joining us. 407 00:21:22,560 --> 00:21:24,520 Speaker 2: If you want to catch that article, it's great and 408 00:21:24,560 --> 00:21:26,320 Speaker 2: it's on the website right now and on the terminal 409 00:21:26,320 --> 00:21:28,080 Speaker 2: in any place you read all the Bloomberg things. 410 00:21:28,119 --> 00:21:32,640 Speaker 5: Thanks again, Emily. Stay with us for more on Bloomberg 411 00:21:32,720 --> 00:21:33,760 Speaker 5: this weekend right. 412 00:21:33,640 --> 00:21:47,960 Speaker 3: After this, Welcome back to Bloomberg this weekend. I'm David 413 00:21:47,960 --> 00:21:52,199 Speaker 3: Gererr with Christina Raffini, pet parent to Brutus joins us 414 00:21:52,200 --> 00:21:56,399 Speaker 3: here on set special segment as well. Americans pet obsession 415 00:21:56,720 --> 00:21:59,560 Speaker 3: is expanding beyond traditional preventative care. Over the next decade, 416 00:21:59,600 --> 00:22:02,639 Speaker 3: the US pet market expected to grow more than grow 417 00:22:02,680 --> 00:22:04,840 Speaker 3: two more than two hundred and fifty billion dollars fro 418 00:22:04,840 --> 00:22:06,879 Speaker 3: about one hundred fifty billion dollars today. 419 00:22:06,720 --> 00:22:09,960 Speaker 5: And I'm only spending about a billion on my tiny dog. 420 00:22:10,240 --> 00:22:10,480 Speaker 10: All right. 421 00:22:10,480 --> 00:22:14,120 Speaker 2: Bloomberg Intelligence Consumer Staples analysts Diana or Sarah Panna is here. 422 00:22:14,760 --> 00:22:18,320 Speaker 2: What is the future of pet retail? Is it online shopping? 423 00:22:18,359 --> 00:22:20,399 Speaker 2: Is it traditional stores? I limit, I do both. We 424 00:22:20,440 --> 00:22:24,199 Speaker 2: have this fabulous, quite over priced soccer jersey that I 425 00:22:24,200 --> 00:22:24,960 Speaker 2: impulse purchase. 426 00:22:25,680 --> 00:22:27,000 Speaker 5: Let's say I'm not sure which. 427 00:22:26,840 --> 00:22:31,040 Speaker 2: Okay, see, oh I dropped my dog, but this is 428 00:22:31,040 --> 00:22:31,800 Speaker 2: an impulse purchase. 429 00:22:31,800 --> 00:22:34,280 Speaker 5: But I also there's a lot of targeted ads online. 430 00:22:34,320 --> 00:22:37,119 Speaker 2: There's a lot of Instagram ads where are people buying 431 00:22:37,160 --> 00:22:38,160 Speaker 2: for their pets the most. 432 00:22:38,320 --> 00:22:42,080 Speaker 10: I mean, it really depends on you know, how young 433 00:22:42,160 --> 00:22:46,320 Speaker 10: you are, your income level. It's all across the pet 434 00:22:46,840 --> 00:22:50,080 Speaker 10: mania continues in the US for sure, So it's it's 435 00:22:50,119 --> 00:22:53,359 Speaker 10: really interesting to see there you go ahead. 436 00:22:54,880 --> 00:22:56,960 Speaker 2: Do we know, is there a certain category that's more 437 00:22:57,040 --> 00:22:58,760 Speaker 2: likely to do, like if you're younger, you're morekly the 438 00:22:58,760 --> 00:23:00,639 Speaker 2: shop online, if you're older, more likely to pick it 439 00:23:00,720 --> 00:23:01,240 Speaker 2: up in person. 440 00:23:01,359 --> 00:23:02,879 Speaker 5: Or is it all it's just across the board. 441 00:23:02,960 --> 00:23:06,679 Speaker 10: So actually, younger consumers are more likely to go to 442 00:23:06,760 --> 00:23:09,639 Speaker 10: pet specialty retailers such as pet Co and pet Smart. 443 00:23:10,560 --> 00:23:13,399 Speaker 10: They in our survey they actually did about you know, 444 00:23:13,440 --> 00:23:17,119 Speaker 10: they they said that they were going to these formats 445 00:23:17,200 --> 00:23:20,199 Speaker 10: about thirty percent compared to like a little lower for 446 00:23:20,280 --> 00:23:23,160 Speaker 10: e commerce. And I think it's because there is that 447 00:23:23,280 --> 00:23:27,400 Speaker 10: one stop shop alternative that they seek. Particularly if you're 448 00:23:27,920 --> 00:23:30,720 Speaker 10: you know young, a young you know, pet parent, you 449 00:23:30,800 --> 00:23:34,680 Speaker 10: probably want to get you know into the grooming and 450 00:23:34,720 --> 00:23:37,159 Speaker 10: like your your accessories and food and all of that. 451 00:23:37,320 --> 00:23:38,600 Speaker 3: We do you have a lot of access it a 452 00:23:38,680 --> 00:23:39,880 Speaker 3: term you use pet parent. 453 00:23:40,160 --> 00:23:40,359 Speaker 7: I do. 454 00:23:40,600 --> 00:23:43,440 Speaker 2: I don't. I stick to human. I say I'm his human. 455 00:23:43,560 --> 00:23:45,439 Speaker 2: But I know most people say pet parents. 456 00:23:45,520 --> 00:23:47,960 Speaker 3: Yes, when it comes to online spending, sort of what's 457 00:23:48,040 --> 00:23:51,200 Speaker 3: driving those sales in that growth? I think about the 458 00:23:51,520 --> 00:23:54,120 Speaker 3: ads you mentioned them like get on some recurring plant, 459 00:23:54,119 --> 00:23:56,600 Speaker 3: we have cats for cat food, for get on this plane. 460 00:23:56,600 --> 00:23:58,040 Speaker 3: We're going to get them every month? Is that a 461 00:23:58,160 --> 00:23:59,960 Speaker 3: main driver for those businesses? 462 00:24:00,119 --> 00:24:03,760 Speaker 10: So autoship, which is something that Chewy offers, is not 463 00:24:03,800 --> 00:24:06,720 Speaker 10: necessarily a big driver. In our survey, we found out 464 00:24:06,760 --> 00:24:09,760 Speaker 10: that about eighteen percent of respondents think that that is 465 00:24:09,880 --> 00:24:14,119 Speaker 10: very important. However, over sixty percent of respondents said that, 466 00:24:14,240 --> 00:24:17,760 Speaker 10: you know, they like free shipping, the convenience, and also 467 00:24:17,840 --> 00:24:20,560 Speaker 10: they're not going to say no to cupons and the like, 468 00:24:20,640 --> 00:24:22,919 Speaker 10: so they you know, there's a lot of it seems 469 00:24:22,960 --> 00:24:27,040 Speaker 10: to be while people prioritize their pets, there seems to 470 00:24:27,040 --> 00:24:32,960 Speaker 10: be that that under line drive of you know, value 471 00:24:33,080 --> 00:24:36,040 Speaker 10: driven behavior. So you can see that online as well. 472 00:24:36,200 --> 00:24:37,840 Speaker 2: When you look at the big retailers, how is it 473 00:24:37,880 --> 00:24:40,359 Speaker 2: split up between I guess it would be Amazon, pet 474 00:24:40,359 --> 00:24:40,960 Speaker 2: Co and Chewy. 475 00:24:40,960 --> 00:24:42,399 Speaker 5: Are those the major players? Yeah? 476 00:24:42,440 --> 00:24:47,520 Speaker 10: So Amazon is actually from you know, from what we saw, 477 00:24:47,560 --> 00:24:49,800 Speaker 10: it was about fifty percent of the respondents that that 478 00:24:49,840 --> 00:24:53,080 Speaker 10: they are going to you know, Amazon, Chewy is also 479 00:24:53,080 --> 00:24:56,320 Speaker 10: a high contender as well as Molmart. It really depends 480 00:24:56,400 --> 00:24:59,760 Speaker 10: on you know, what your priority is. I will guess 481 00:24:59,840 --> 00:25:02,520 Speaker 10: that for Amazon is more of you know, you're a 482 00:25:02,560 --> 00:25:05,320 Speaker 10: prime member, you want to buy for you know, every 483 00:25:05,359 --> 00:25:09,080 Speaker 10: week you have your your you know, box of things, 484 00:25:09,119 --> 00:25:11,360 Speaker 10: and then you're you're buying stuff from Mouzon. 485 00:25:12,720 --> 00:25:15,360 Speaker 3: You've surveyed a lot about multi pet households. Of course 486 00:25:15,359 --> 00:25:17,399 Speaker 3: there's only room for one brutus and the raffine on 487 00:25:17,640 --> 00:25:20,520 Speaker 3: one versus apartment. But this is a trend as well. 488 00:25:20,520 --> 00:25:22,280 Speaker 3: I mean, this is an important driver of growth and 489 00:25:22,320 --> 00:25:22,840 Speaker 3: spending too. 490 00:25:23,080 --> 00:25:23,359 Speaker 5: Yeah. 491 00:25:23,400 --> 00:25:27,919 Speaker 10: So obviously for multi pet households, we find out that 492 00:25:28,040 --> 00:25:31,639 Speaker 10: they spend about three hundred dollars a month compared to 493 00:25:31,760 --> 00:25:32,600 Speaker 10: like two hundred. 494 00:25:33,600 --> 00:25:36,200 Speaker 5: So how much do you guys spend month? 495 00:25:36,320 --> 00:25:40,720 Speaker 3: No, No, I'd say like two hundred probably hundred. 496 00:25:40,760 --> 00:25:41,720 Speaker 5: Okay, that's significant. 497 00:25:41,760 --> 00:25:45,639 Speaker 10: Yeah, yes, And and you know there's always that is 498 00:25:45,640 --> 00:25:49,120 Speaker 10: is very important for you know, the producers as well 499 00:25:49,160 --> 00:25:51,800 Speaker 10: as the retailers because it gives them a little bit 500 00:25:51,840 --> 00:25:55,359 Speaker 10: more alternative to you know, for for them to visit 501 00:25:55,400 --> 00:25:58,119 Speaker 10: the store or buy more. So it's it's definitely a 502 00:25:58,200 --> 00:25:59,160 Speaker 10: profitable for them. 503 00:25:59,440 --> 00:26:02,800 Speaker 2: You guys also asked what people were spending we're spending 504 00:26:02,840 --> 00:26:03,760 Speaker 2: money on or we're no. 505 00:26:03,720 --> 00:26:04,080 Speaker 5: I'm sorry. 506 00:26:04,160 --> 00:26:06,720 Speaker 2: You also asked what people were concerned about, and this 507 00:26:06,880 --> 00:26:09,600 Speaker 2: year you asked a new question and what was that? 508 00:26:09,680 --> 00:26:11,200 Speaker 5: And it's like off the charts. 509 00:26:11,359 --> 00:26:15,000 Speaker 10: Yes, so the first time that we asked about anxiety, 510 00:26:15,040 --> 00:26:18,679 Speaker 10: and it seems that pend anxiety seems to be something 511 00:26:18,720 --> 00:26:20,680 Speaker 10: of concern for for pet parents. 512 00:26:21,800 --> 00:26:22,640 Speaker 5: Is are you anxious? 513 00:26:22,760 --> 00:26:23,560 Speaker 3: He doesn't seem any. 514 00:26:23,560 --> 00:26:26,840 Speaker 5: I don't think. He seems not anxious. Now he's fine. 515 00:26:26,880 --> 00:26:29,840 Speaker 3: I look at that, I see anxiety and I see obesities, 516 00:26:29,840 --> 00:26:32,879 Speaker 3: two of the main drivers there. So people are spending 517 00:26:32,960 --> 00:26:36,080 Speaker 3: money on what they're buying stupid. 518 00:26:36,160 --> 00:26:40,800 Speaker 5: No, we just on peptide. 519 00:26:40,920 --> 00:26:42,400 Speaker 3: Peptides are the new age. 520 00:26:42,440 --> 00:26:46,520 Speaker 10: But there's you know a higher concern for putting their 521 00:26:46,560 --> 00:26:49,760 Speaker 10: pets on the diet and making them as comfortable as possible. 522 00:26:49,800 --> 00:26:52,320 Speaker 10: And this is you know, a big opportunity for obviously 523 00:26:52,320 --> 00:26:57,560 Speaker 10: pharmaceuticals as well as you know, especially for specialty foods 524 00:26:57,600 --> 00:26:59,560 Speaker 10: and they like So it's it's, you know, it's a 525 00:26:59,600 --> 00:27:01,399 Speaker 10: boon for for this world in which. 526 00:27:01,280 --> 00:27:03,760 Speaker 3: You're waiting you do all this stuff. No, he's not. 527 00:27:03,720 --> 00:27:05,399 Speaker 5: Obese, he's not OBEs He runs. 528 00:27:05,440 --> 00:27:07,439 Speaker 2: I mean he's very calm now, but he runs like 529 00:27:07,440 --> 00:27:08,000 Speaker 2: a maniac. 530 00:27:08,000 --> 00:27:08,960 Speaker 5: He burns it all off. 531 00:27:09,119 --> 00:27:12,600 Speaker 2: But you guys also talk about wellness visits and how 532 00:27:12,680 --> 00:27:15,120 Speaker 2: you said around seventeen percent of dogs and twenty nine 533 00:27:15,119 --> 00:27:18,000 Speaker 2: percent of cats are missing their annual wellness visit. 534 00:27:18,080 --> 00:27:18,679 Speaker 3: We don't do it. 535 00:27:19,000 --> 00:27:19,600 Speaker 5: We don't either. 536 00:27:19,800 --> 00:27:20,840 Speaker 3: I feel bad about that. 537 00:27:21,200 --> 00:27:23,119 Speaker 5: But thats you're getting said so expensive. 538 00:27:23,280 --> 00:27:24,960 Speaker 2: I was just talking to some other pet owners in 539 00:27:25,000 --> 00:27:27,199 Speaker 2: the park about this, and we were saying, like the 540 00:27:27,320 --> 00:27:29,760 Speaker 2: mission creep on vet visits and they want to see 541 00:27:29,760 --> 00:27:31,480 Speaker 2: you four times a year, and it's eight hundred dollars 542 00:27:31,520 --> 00:27:33,720 Speaker 2: each time, and so people are just not going. 543 00:27:33,440 --> 00:27:37,359 Speaker 10: Now, Yeah, exactly, they're prioritizing other things they and that 544 00:27:37,520 --> 00:27:41,160 Speaker 10: is I would say food companies are doing a lot 545 00:27:41,160 --> 00:27:44,040 Speaker 10: of good marketing on that because they are trying to 546 00:27:44,119 --> 00:27:47,400 Speaker 10: convince pet parents that hey, if you feed your dog 547 00:27:47,560 --> 00:27:50,840 Speaker 10: good quality food, which usually comes at a higher price, 548 00:27:51,160 --> 00:27:55,160 Speaker 10: then you can probably be comfortable skeeping a few doctor visits. 549 00:27:55,520 --> 00:27:58,200 Speaker 10: If that is true or not, it really depends. 550 00:27:57,840 --> 00:28:00,320 Speaker 5: On that's not part of your survey. Yes, exactly. 551 00:28:00,440 --> 00:28:03,960 Speaker 10: I mean we have talked to vets and they mentioned 552 00:28:03,960 --> 00:28:06,520 Speaker 10: that you know, food well, they thank it you know, 553 00:28:06,600 --> 00:28:08,080 Speaker 10: for dieting and the like. 554 00:28:08,200 --> 00:28:09,400 Speaker 5: It's it's a it's a good thing. 555 00:28:09,640 --> 00:28:13,320 Speaker 10: It doesn't necessarily, you know, cure any of the issues 556 00:28:13,320 --> 00:28:14,639 Speaker 10: that we have seen with bets. 557 00:28:15,960 --> 00:28:19,560 Speaker 4: Stay with us for more on Bloomberg this weekend. Right 558 00:28:19,640 --> 00:28:32,120 Speaker 4: after this, all. 559 00:28:32,080 --> 00:28:35,280 Speaker 3: Right, it's time now for this weekend's pointed news quiz. 560 00:28:35,640 --> 00:28:37,399 Speaker 3: This might be your week, might be my week. 561 00:28:37,560 --> 00:28:39,240 Speaker 2: Yeah, I don't feel like I've been up on my 562 00:28:39,360 --> 00:28:40,280 Speaker 2: random headlines. 563 00:28:40,280 --> 00:28:42,240 Speaker 5: At least I can torture us. 564 00:28:41,280 --> 00:28:46,040 Speaker 4: See here, Lisa, Lisa, that's my job, guys. Okay, So 565 00:28:46,080 --> 00:28:47,920 Speaker 4: those of you playing at home, if you're wondering why 566 00:28:47,920 --> 00:28:49,960 Speaker 4: we have all these chips on the table, here's how 567 00:28:50,000 --> 00:28:52,120 Speaker 4: it works. So they have thirty chips in front of 568 00:28:52,120 --> 00:28:52,560 Speaker 4: them for you. 569 00:28:52,640 --> 00:28:54,800 Speaker 5: On radio. You can hear them rustling them nicely. 570 00:28:55,400 --> 00:28:58,719 Speaker 4: They will place their bets on three different categories. So 571 00:28:58,880 --> 00:29:01,440 Speaker 4: you know, if you feel a little confident the first category, 572 00:29:01,480 --> 00:29:02,920 Speaker 4: then you put more of your chips there, or if 573 00:29:02,960 --> 00:29:05,240 Speaker 4: you're like Christina, you just go ten across the board. 574 00:29:05,400 --> 00:29:06,840 Speaker 5: Yeah, and it seems to be working. 575 00:29:07,000 --> 00:29:09,160 Speaker 2: I like to hedge my lack of knowledge, So that's 576 00:29:09,160 --> 00:29:09,640 Speaker 2: what we do. 577 00:29:10,080 --> 00:29:11,560 Speaker 4: All right, Are you ready for your category? 578 00:29:11,800 --> 00:29:12,480 Speaker 5: Put them up there? 579 00:29:12,560 --> 00:29:13,280 Speaker 3: Okay, let's go. 580 00:29:13,360 --> 00:29:15,120 Speaker 4: So the first category is. 581 00:29:15,320 --> 00:29:18,040 Speaker 3: Reddit Reddity social network. 582 00:29:19,320 --> 00:29:23,640 Speaker 2: About that okay, it was though, okay. 583 00:29:23,960 --> 00:29:24,480 Speaker 3: Think about it. 584 00:29:24,560 --> 00:29:28,560 Speaker 4: Second category is music and third category is y A 585 00:29:28,760 --> 00:29:30,880 Speaker 4: novels or young adult young adult novels. 586 00:29:31,000 --> 00:29:32,320 Speaker 3: Okay, take me back. 587 00:29:32,160 --> 00:29:33,200 Speaker 4: So place your bets. 588 00:29:33,280 --> 00:29:35,320 Speaker 5: What do you think Reddit for you music? 589 00:29:36,320 --> 00:29:38,640 Speaker 3: When all fiction? Sorry? 590 00:29:38,800 --> 00:29:41,000 Speaker 4: It was Reddit first music? 591 00:29:41,160 --> 00:29:45,680 Speaker 3: Second? Why a you know I'm going to do the raffini. 592 00:29:48,080 --> 00:29:48,840 Speaker 5: It seems to work. 593 00:29:48,880 --> 00:29:49,560 Speaker 3: It feels safe. 594 00:29:49,760 --> 00:29:51,880 Speaker 5: It's the very diverse categories. 595 00:29:51,920 --> 00:29:54,560 Speaker 4: All right, it's the yeah, I think you've heard this 596 00:29:54,600 --> 00:29:55,160 Speaker 4: first story? 597 00:29:55,320 --> 00:29:56,800 Speaker 5: Really are you ready here? We got annoyed. 598 00:29:56,760 --> 00:30:00,400 Speaker 4: I read this, okay, Traders on the walls he bet 599 00:30:00,440 --> 00:30:06,240 Speaker 4: subreddit chose which struggling fast food chain as the latest stock. 600 00:30:07,800 --> 00:30:10,560 Speaker 5: I can't remember which it was, hang. 601 00:30:10,440 --> 00:30:13,960 Speaker 4: On, it was always makes me angry when I know 602 00:30:14,120 --> 00:30:16,040 Speaker 4: when you know, and you should have bet more. No, 603 00:30:16,200 --> 00:30:17,840 Speaker 4: I have confidence in yourself, David. 604 00:30:17,960 --> 00:30:19,720 Speaker 3: Yeah, well you know? 605 00:30:20,320 --> 00:30:21,240 Speaker 5: Okay, are you ready? 606 00:30:21,280 --> 00:30:21,680 Speaker 3: I'm ready? 607 00:30:21,720 --> 00:30:22,120 Speaker 4: Okay, Dave? 608 00:30:22,120 --> 00:30:22,640 Speaker 3: What are you saying? 609 00:30:22,960 --> 00:30:27,720 Speaker 4: Wendy's You guys are correcting? Yes, yes, yes, So they 610 00:30:27,880 --> 00:30:32,920 Speaker 4: urged traders to quote save Wendy's before it's too late. Okay, 611 00:30:33,040 --> 00:30:36,400 Speaker 4: but it actually like how the markets were. Actually, yes, 612 00:30:36,920 --> 00:30:39,400 Speaker 4: I'm telling you a little word and a fun fact 613 00:30:39,400 --> 00:30:42,440 Speaker 4: for you. For those who are are Wendy's fans. Dave Thomas, 614 00:30:42,480 --> 00:30:43,760 Speaker 4: you know, the owner appeared. 615 00:30:43,440 --> 00:30:44,480 Speaker 9: In all the commercials. 616 00:30:44,680 --> 00:30:47,920 Speaker 4: He appeared in more than eight hundred advertisings for I 617 00:30:48,000 --> 00:30:51,400 Speaker 4: know him, is more than any other company foundering here 618 00:30:51,400 --> 00:30:51,720 Speaker 4: with US. 619 00:30:51,720 --> 00:30:54,160 Speaker 3: Graduate School of Business at Douke. He would say that 620 00:30:54,240 --> 00:30:56,480 Speaker 3: Dave Thomas endowed a lot of that business school. There's 621 00:30:56,480 --> 00:30:58,760 Speaker 3: a Dave building on the campus. 622 00:30:59,320 --> 00:31:01,960 Speaker 2: You still love those commercials. I guess he's not you know, 623 00:31:02,320 --> 00:31:04,240 Speaker 2: obviously he's not around. But they're not doing anything with 624 00:31:04,280 --> 00:31:04,960 Speaker 2: the founder anymore. 625 00:31:05,360 --> 00:31:09,560 Speaker 3: The president I have very personal king fire the king famously. 626 00:31:09,640 --> 00:31:10,880 Speaker 3: Now it's gotten rid of them. 627 00:31:11,240 --> 00:31:13,680 Speaker 5: Oh that's a great but you know what they needed 628 00:31:13,720 --> 00:31:14,480 Speaker 5: to bring back. 629 00:31:14,440 --> 00:31:17,800 Speaker 4: Dam Sorry, all right, the colonel still is at Kentucky. 630 00:31:17,920 --> 00:31:18,320 Speaker 3: Ride right? 631 00:31:19,960 --> 00:31:20,240 Speaker 6: Music? 632 00:31:20,320 --> 00:31:21,600 Speaker 5: Are you feeling confident about music? 633 00:31:22,240 --> 00:31:22,480 Speaker 3: David? 634 00:31:23,160 --> 00:31:26,200 Speaker 4: Let's get to it, Clive Davis. Okay, So he passed 635 00:31:26,200 --> 00:31:29,360 Speaker 4: away this week at ninety four. He launched Arista Records 636 00:31:29,400 --> 00:31:32,840 Speaker 4: in nineteen seventy four after being pushed out by which 637 00:31:32,960 --> 00:31:36,640 Speaker 4: record label? So where what company did he get fired from? 638 00:31:36,760 --> 00:31:40,920 Speaker 4: Before he started his new company? Okay, oh. 639 00:31:42,680 --> 00:31:48,120 Speaker 3: Evaluate real ah, okay, all right. 640 00:31:48,000 --> 00:31:49,200 Speaker 4: I'm seeing it's confident. 641 00:31:49,320 --> 00:31:50,120 Speaker 3: Yeah no, not. 642 00:31:50,200 --> 00:31:53,680 Speaker 5: I just said that was my other I said Motown. 643 00:31:53,760 --> 00:32:01,120 Speaker 4: You should have kept it in Columbia, So I was like, 644 00:32:01,200 --> 00:32:06,760 Speaker 4: don't already. He actually joined Columbia as a lawyer in 645 00:32:06,840 --> 00:32:09,239 Speaker 4: nineteen sixty. He was appointed president seven years later, but 646 00:32:09,560 --> 00:32:11,719 Speaker 4: he was let go. But he went over to Arison 647 00:32:11,800 --> 00:32:13,840 Speaker 4: and Whitney Houston was the big you. 648 00:32:13,800 --> 00:32:18,360 Speaker 5: Know over there that would lose ten Okay. 649 00:32:18,120 --> 00:32:20,640 Speaker 2: All right, I will give it my sh my goodness, 650 00:32:20,720 --> 00:32:21,640 Speaker 2: I don't want. 651 00:32:22,080 --> 00:32:25,240 Speaker 5: Confused David Dura. There you go, there you go. 652 00:32:25,320 --> 00:32:27,760 Speaker 3: Okay, you guys are still time your god. I guess 653 00:32:27,800 --> 00:32:28,800 Speaker 3: I should have stuck. 654 00:32:28,560 --> 00:32:32,280 Speaker 2: With you again didn't And now we're even y you 655 00:32:32,440 --> 00:32:33,120 Speaker 2: all novels. 656 00:32:33,160 --> 00:32:34,920 Speaker 4: This is this is where you're gonna pull through. Okay, 657 00:32:34,960 --> 00:32:35,440 Speaker 4: here we go. 658 00:32:36,280 --> 00:32:36,760 Speaker 3: Okay. 659 00:32:37,480 --> 00:32:43,600 Speaker 4: The country Namibia has denied Starlink a license. So Starlink's 660 00:32:43,680 --> 00:32:46,800 Speaker 4: name here's the question for you. Starlink's name was inspired 661 00:32:46,840 --> 00:32:53,000 Speaker 4: by what twenty twelve young adult novel Not. 662 00:32:55,400 --> 00:32:58,000 Speaker 3: Since I've been a young adult. 663 00:32:58,760 --> 00:33:02,160 Speaker 4: Starlink's name admired by What twelve. 664 00:33:01,680 --> 00:33:04,360 Speaker 3: I don't, I don't know. I'm want to leave that. 665 00:33:04,480 --> 00:33:06,200 Speaker 5: I'm all right, what are you writing? 666 00:33:06,320 --> 00:33:08,520 Speaker 3: I blank, no idea. 667 00:33:09,120 --> 00:33:13,240 Speaker 4: It's a fault in our stars. 668 00:33:13,280 --> 00:33:17,400 Speaker 5: I could think of yes, he said in a Twitter post. 669 00:33:17,440 --> 00:33:18,160 Speaker 3: He actually did that. 670 00:33:18,280 --> 00:33:21,880 Speaker 4: So it's John Green's novel comes from actually Shakespeare's Julius Caesar, 671 00:33:22,600 --> 00:33:23,840 Speaker 4: who knew who did? 672 00:33:23,880 --> 00:33:25,880 Speaker 5: My dog is named Brutus. This is a quote. 673 00:33:25,920 --> 00:33:30,600 Speaker 4: I'm familiar David behind here. So this is your chance 674 00:33:30,640 --> 00:33:33,760 Speaker 4: for redemption because we have a bonus. All right, you're ready. 675 00:33:33,880 --> 00:33:38,840 Speaker 4: The bonus category though, is birthdays. Okay, okay, I believe 676 00:33:38,880 --> 00:33:41,560 Speaker 4: you both are to nail list. The US is marking 677 00:33:41,640 --> 00:33:45,440 Speaker 4: it's two hundred and fiftieth anniversary. What is the term 678 00:33:45,960 --> 00:33:49,200 Speaker 4: for this milestone. It's a long one and you need 679 00:33:49,240 --> 00:33:52,960 Speaker 4: to spell it correct like eight thousand. It's like to 680 00:33:53,080 --> 00:33:58,040 Speaker 4: spend spell it correctly, two hundred and fiftieth anniversary. There 681 00:33:58,080 --> 00:33:58,800 Speaker 4: was a term for that. 682 00:33:59,000 --> 00:34:01,960 Speaker 3: Remember I wrote, Wait, it's it's the week. 683 00:34:02,680 --> 00:34:10,759 Speaker 2: Yes, it's got to have sense tonal yes, Oh yeah, 684 00:34:10,800 --> 00:34:12,360 Speaker 2: I wrote, like Quincey's centeno. 685 00:34:12,480 --> 00:34:14,560 Speaker 5: I don't get that. It's quit hold on, hould up. 686 00:34:15,000 --> 00:34:20,319 Speaker 4: So now it's semi because it's not the well that 687 00:34:20,440 --> 00:34:23,120 Speaker 4: is hand over to Sims's photos. 688 00:34:26,160 --> 00:34:27,680 Speaker 3: Thank you always a pleasure. 689 00:34:28,280 --> 00:34:28,920 Speaker 5: Thank you, Lisa. 690 00:34:29,640 --> 00:34:31,439 Speaker 4: We had a lot of two fifty here. 691 00:34:31,360 --> 00:34:34,279 Speaker 3: We do test your knowledge and all ten questions take 692 00:34:34,280 --> 00:34:36,080 Speaker 3: the point of news quiz at Bloomberg dot com slash 693 00:34:36,080 --> 00:34:38,520 Speaker 3: pointed where it's multiple choice. 694 00:34:38,560 --> 00:34:39,760 Speaker 5: Remember it is multiple choice. 695 00:34:39,760 --> 00:34:41,719 Speaker 2: It is it is less difficult, but you know, less 696 00:34:41,719 --> 00:34:43,719 Speaker 2: fun for Lisa because she doesn't get to torture you 697 00:34:43,719 --> 00:34:44,479 Speaker 2: like she does us. 698 00:34:44,400 --> 00:34:46,839 Speaker 3: So well to true way. 699 00:34:47,800 --> 00:34:50,719 Speaker 2: Thanks for joining us on today's Bloomberg This Weekend podcast. 700 00:34:50,840 --> 00:34:53,120 Speaker 2: Don't forget to tune in live for the show every 701 00:34:53,120 --> 00:34:55,800 Speaker 2: Saturday and Sunday morning, starting at seven am Eastern. 702 00:34:55,880 --> 00:34:58,879 Speaker 3: We're on Bloomberg Television Radio and the Bloomberg Business App, 703 00:34:59,000 --> 00:35:02,480 Speaker 3: bringing you unique take and in depth interviews on news, politics, 704 00:35:02,560 --> 00:35:03,800 Speaker 3: lifestyle and culture.