WEBVTT - On Site at the Earthshot Conference 0:00:00.040 --> 0:00:06.760 Bloomberg Audio Studios, Podcasts, radio news. 0:00:11.960 --> 0:00:15.560 This is the Bloomberg Surveillance Podcast. I'm Tom Keene along 0:00:15.600 --> 0:00:18.960 with Paul Sweeney. Join us each day for insight from 0:00:18.960 --> 0:00:23.160 the best in economics, finance, investment, and international relations. You 0:00:23.160 --> 0:00:26.520 can also watch the show live on YouTube. Visit the 0:00:26.520 --> 0:00:31.280 Bloomberg Podcast channel on YouTube to see the show weekday 0:00:31.280 --> 0:00:34.320 mornings from seven to ten am Eastern from our global 0:00:34.360 --> 0:00:39.000 headquarters in New York City. Subscribe to the podcast on Apple, Spotify, 0:00:39.360 --> 0:00:42.920 or anywhere else you listen, and always I'm Bloomberg Radio, 0:00:43.080 --> 0:00:47.199 the Bloomberg Terminal, and the Bloomberg Business app. Joining us 0:00:47.280 --> 0:00:50.240 right now, she's with Airbus Adventures. She's not with the Airbus, 0:00:50.520 --> 0:00:54.200 although she likes the Beluga, but she's with Airbus Ventures. 0:00:54.520 --> 0:00:57.840 No Cole Connor joins us here on investment in all 0:00:57.880 --> 0:01:01.800 of this, is there too much money chasing too few 0:01:01.920 --> 0:01:04.000 ideas or the other way around? 0:01:04.400 --> 0:01:07.520 It thinks the other way around. There's so many opportunities 0:01:07.600 --> 0:01:09.759 right now, and I think this is a really special 0:01:09.880 --> 0:01:13.160 time for venture capital and for these startups who are 0:01:13.200 --> 0:01:17.040 working on taking these important emerging technologies out of the 0:01:17.120 --> 0:01:20.080 lab and into the real world. At our fund, we're 0:01:20.120 --> 0:01:24.920 investing in everything from autonomy to electrification, the low carbon economy, 0:01:26.200 --> 0:01:31.240 news space, advanced materials, quantum computing, networking and sensing. And 0:01:31.319 --> 0:01:33.960 as we've seen a climate week, there's no end to 0:01:34.000 --> 0:01:35.600 the number of startups who are trying to solve these 0:01:35.600 --> 0:01:36.440 important challenges. 0:01:36.560 --> 0:01:40.400 You have a wonderful transatlantic view at Airbus Ventures. What 0:01:40.480 --> 0:01:42.959 I see when I'm in London or Paris is a 0:01:43.080 --> 0:01:48.040 huge success or belief in the future of climate versus 0:01:48.080 --> 0:01:52.960 a hugely fractious United States debate on climate. Describe that 0:01:53.200 --> 0:01:55.560 debate and how it affects investment. 0:01:56.440 --> 0:01:59.040 What we see is that we're you know, we're investing 0:01:59.120 --> 0:02:01.880 in CEEDD, siri B companies who are working on bricks 0:02:01.880 --> 0:02:06.080 of technology that are hoping to solve this challenge. We 0:02:06.240 --> 0:02:09.560 are uniquely positioned as one of the few global VC funds. 0:02:09.639 --> 0:02:13.639 We're investing all over the world, and what we see 0:02:13.680 --> 0:02:16.520 as an optimism on seeing how these technologies can help 0:02:16.560 --> 0:02:19.600 shape the future of tomorrow. Some of these technologies that 0:02:19.639 --> 0:02:24.120 will be changing products, you know, in decades time, So 0:02:24.680 --> 0:02:28.720 we have a very optimimistic view on the current environment. 0:02:28.800 --> 0:02:31.919 Help me with the term deep technology, So you invest 0:02:31.960 --> 0:02:35.200 in deep technology entrepreneurship, what does it mean and how 0:02:35.200 --> 0:02:37.040 does that set you apart from other VC shops. 0:02:37.320 --> 0:02:41.639 We're investing in the hardest engineering problems to solve, and 0:02:42.040 --> 0:02:46.239 the deep tech investment practice is extremely important in unlocking 0:02:46.280 --> 0:02:49.720 these opportunities down the chain. So when you think about 0:02:50.000 --> 0:02:52.720 I think about one of our portfolio companies who's sitting 0:02:52.760 --> 0:02:55.359 in the Brooklyn Navy Yard called que Net. They're working 0:02:55.440 --> 0:02:59.080 on quantum networking hardware. This is a product suite that 0:02:59.080 --> 0:03:04.519 will sit on existing telecom infrastructure to allow for quantum communications. 0:03:05.040 --> 0:03:08.560 Why that matters is that's ultra secure communication. So the 0:03:08.680 --> 0:03:12.120 national security sector is very interested in seeing even how 0:03:12.120 --> 0:03:14.120 if you can use their product suite to see if 0:03:14.160 --> 0:03:17.760 someone is tapping the line, and ultra secure communication matters 0:03:17.800 --> 0:03:22.360 for so many industries, finance, defense, national security, of course. 0:03:22.560 --> 0:03:25.160 So that's where we're focused on. How can we work 0:03:25.200 --> 0:03:28.079 on using these bricks of technology to unlock other problems. 0:03:28.200 --> 0:03:30.160 Nicole, We'll get Tom over to the Brooklyn Navy Yard here, 0:03:30.160 --> 0:03:31.880 we'll get you to Brooklyn at some point. 0:03:32.480 --> 0:03:36.200 Bagels crave that that's incredible community over there. 0:03:36.200 --> 0:03:38.960 Tell me about your background. I mean you are somebody's 0:03:39.000 --> 0:03:41.120 a lawyer. You're based in DC. I remember talking with 0:03:41.120 --> 0:03:43.960 Steve case a while back about sort of broadening the 0:03:44.000 --> 0:03:48.320 reach of VC beyond Boston, beyond the Bay Area. What 0:03:48.360 --> 0:03:50.760 added value perspective does that give you being based in 0:03:51.080 --> 0:03:52.560 Washington versus those other places. 0:03:52.800 --> 0:03:56.080 Well, certainly in the areas that we're investing. These are 0:03:56.320 --> 0:03:59.080 all on the Critical and Emerging Technologies list for the US. 0:03:59.120 --> 0:04:01.960 So many of our folio companies, they are in and 0:04:02.000 --> 0:04:05.920 out of DC, meeting with their customers, the agencies, the 0:04:06.080 --> 0:04:09.520 aerospace primes in Northern Virginia, their headmans on the hill. 0:04:09.840 --> 0:04:12.600 I think there is a strong appetite to better understand 0:04:12.680 --> 0:04:17.320 how these technologies can be plugged into other areas and 0:04:17.400 --> 0:04:21.479 challenges that we have. I would say, with my background, 0:04:21.480 --> 0:04:23.520 what we'd like to say within our fund is that 0:04:23.560 --> 0:04:26.120 we have a Swiss Army knife of a team. Founders 0:04:26.200 --> 0:04:29.000 have no end to the challenges that they need to navigate, 0:04:29.480 --> 0:04:32.440 and so yes, I bring my financial and operational background. 0:04:32.680 --> 0:04:36.600 We have aerospace engineers and mechanical engineers, physicists, all of whom 0:04:36.640 --> 0:04:40.040 are working with our founders to get their technologies out 0:04:40.040 --> 0:04:40.560 into the market. 0:04:40.760 --> 0:04:45.280 You are living the skepticism of America over climate change 0:04:45.520 --> 0:04:48.640 in this election of David's expert on the election. I'm not, 0:04:48.839 --> 0:04:52.880 but you go state to state, it's almost an unmentionable 0:04:53.360 --> 0:04:58.760 rather too candidates, how does America become more like Europe 0:04:58.839 --> 0:05:01.960 in climate change? Or do you suggest we stay distant 0:05:02.320 --> 0:05:04.120 from the enthusiasm. 0:05:04.520 --> 0:05:09.240 I think it's important to focus on the technologies themselves 0:05:09.680 --> 0:05:13.400 because in the debate it's getting lost, Like for example, 0:05:13.480 --> 0:05:17.000 we could look at hydrogen aircraft. These are exciting opportunities. 0:05:17.000 --> 0:05:19.320 This is what the market wants, is they want to 0:05:19.360 --> 0:05:22.320 have novel ways of flying that has less climate impact. 0:05:22.680 --> 0:05:25.279 And so we like to stay out of the noise 0:05:25.400 --> 0:05:29.359 and in terms of any debate on this, because we 0:05:29.400 --> 0:05:31.440 think the technologies will show themselves. 0:05:31.720 --> 0:05:33.679 What do folks need to know just about the environment? 0:05:33.720 --> 0:05:35.480 For venture capital? At this point, we've been through a 0:05:35.520 --> 0:05:37.280 couple of years when the environment wasn't as great as 0:05:37.279 --> 0:05:40.400 as it had been. Where are we in the arc 0:05:40.480 --> 0:05:43.400 of sort of its energy or success or how does 0:05:43.440 --> 0:05:45.320 it feel at this moment being in VC. 0:05:46.680 --> 0:05:50.000 Feeling optimistic? Actually, I think that there's a lot it's 0:05:50.040 --> 0:05:53.640 important right now, and we as a fund want to 0:05:54.000 --> 0:05:58.920 really bring the expertise into bringing these technologies out, and 0:05:58.960 --> 0:06:00.760 so I think it's important that right now we're seeing 0:06:00.920 --> 0:06:05.520 VC funds who have special expertise really focused on the founders, 0:06:06.839 --> 0:06:10.800 and I think the interest rate helps helps. It certainly helps, 0:06:10.800 --> 0:06:13.320 and so we're feeling good and I think hopefully getting 0:06:13.360 --> 0:06:14.960 through the election process itself. 0:06:15.000 --> 0:06:16.800 Well, I've got my question of the day. 0:06:16.920 --> 0:06:20.680 Is a shock worldwide that Microsoft is going to team 0:06:20.760 --> 0:06:25.159 up for electrical generations three Mile Island with Constellation Energy. 0:06:25.320 --> 0:06:27.640 How did you react when you saw that, I mean 0:06:27.839 --> 0:06:32.360 talk about a jump condition for energy or energy generation, 0:06:32.520 --> 0:06:33.760 I should say yeah. 0:06:33.960 --> 0:06:36.360 I think it's it's just reflective of the fact that 0:06:36.440 --> 0:06:40.640 companies are eager for anyone to find solutions for the 0:06:40.760 --> 0:06:43.800 energy crisis that they that they have, I mean a lot. 0:06:43.920 --> 0:06:45.760 I mean, if you think about AI, there's a huge 0:06:45.800 --> 0:06:48.359 amount of energy consumption in order to run some of 0:06:48.400 --> 0:06:51.800 these models, and so it's it's unsurprising that they're looking 0:06:51.839 --> 0:06:55.880 for any particular technology that can help solve their problem. 0:06:56.040 --> 0:06:57.039 Nicole, thank you for j. 0:06:59.279 --> 0:07:02.080 So there must be not today getting us started here 0:07:02.120 --> 0:07:05.360 at the Earth Shot A Prize awards. 0:07:04.920 --> 0:07:16.000 It this is a joy. 0:07:16.200 --> 0:07:18.600 He is someone at Morgan Stanley who's done the tour 0:07:18.640 --> 0:07:21.760 of duty and very rarely do you see such an 0:07:21.800 --> 0:07:24.560 extended commitment to one project. 0:07:24.960 --> 0:07:25.760 That project. 0:07:25.800 --> 0:07:28.400 Well, maybe it's not as iconic as the Dow Jones 0:07:29.000 --> 0:07:34.360 Industrial Average, but within Global Wall Street, MSCI is understood 0:07:34.400 --> 0:07:38.040 by all. Henry Fernandez joins us this morning with your 0:07:38.160 --> 0:07:41.960 baby ms CI. What was it like the first years 0:07:42.000 --> 0:07:45.160 of MSCI where you had to go into every meetia. 0:07:44.840 --> 0:07:47.000 To explain what are we doing there? 0:07:47.040 --> 0:07:51.480 Now you own Emerging market in Global Index Analysis. 0:07:52.440 --> 0:07:55.480 So I created a company thirty years ago on top 0:07:55.560 --> 0:07:59.240 of the what was then the morning Stanley Capital International 0:07:59.280 --> 0:08:02.640 in this is and that was the only problem we had, right, 0:08:02.720 --> 0:08:05.560 you know, market cup in this is and it was 0:08:05.560 --> 0:08:07.960 a call center, so we didn't have a lot of resources, 0:08:08.400 --> 0:08:11.840 and the world wanted a lot from us. So we 0:08:11.920 --> 0:08:15.800 had to educate a lot of people and expand and 0:08:16.080 --> 0:08:18.520 you know, eventually brought a lot of companies and spin 0:08:18.600 --> 0:08:21.080 out of Morgan Stanley and it's a forty billion dollar 0:08:21.120 --> 0:08:22.239 market cap company today. 0:08:22.520 --> 0:08:26.480 You were focused on the innovation here of the accountability 0:08:26.680 --> 0:08:32.120 of data over to the climate challenges we have. How 0:08:32.120 --> 0:08:35.199 are you going to bring your data acumen over to 0:08:35.400 --> 0:08:38.760 a better measurement of our climate disaster? 0:08:39.640 --> 0:08:43.760 So clearly climate risk is an existential risk for all 0:08:43.800 --> 0:08:46.800 of us. But in the Capital industry. You know, you 0:08:46.840 --> 0:08:50.600 can decimate portfolios. There'll be winners and losers, and all 0:08:50.640 --> 0:08:53.480 of them arender your portfolio today. So the question is 0:08:53.480 --> 0:08:56.320 how are you going to discern who those are and 0:08:56.360 --> 0:08:59.960 how you're going to start transitioning to a low carbon PORTFOLI. 0:09:00.920 --> 0:09:03.720 So it's a lot of it a question of measurement. 0:09:04.240 --> 0:09:07.400 So what's the nature of your problem? Whereas the carbon emissions, 0:09:07.400 --> 0:09:09.800 where are the big climate risk? What do you do 0:09:09.840 --> 0:09:11.959 about it? Where do you start? Do you start in 0:09:12.000 --> 0:09:15.200 private assets and public acids? And very importantly, at what 0:09:15.280 --> 0:09:17.120 pace do you go? If you go too fast, you 0:09:17.120 --> 0:09:18.680 get underperform because. 0:09:18.480 --> 0:09:22.280 You're gone too fast. Is Europe going too fast? 0:09:22.800 --> 0:09:23.400 No? 0:09:23.400 --> 0:09:25.439 No, I mean nothing in the world is going too 0:09:25.480 --> 0:09:29.000 fast for you know, the Parents Agreement put a day 0:09:29.040 --> 0:09:31.560 of twenty fifty because we needed to get two hundred 0:09:31.559 --> 0:09:34.839 countries to agree. But it was so far out that 0:09:35.040 --> 0:09:37.400 you know, people think that this is a long term problem. 0:09:37.760 --> 0:09:39.520 Of course it is a long term problem, but it's 0:09:39.520 --> 0:09:41.320 also a short to medium term problem. 0:09:41.679 --> 0:09:42.000 You know, we. 0:09:42.080 --> 0:09:44.840 Already see an enormous physical risk around the world. 0:09:45.040 --> 0:09:47.040 I mean, you've got a risk in Brooklyn that your 0:09:47.040 --> 0:09:48.960 house can float away, right, Well, I. 0:09:48.960 --> 0:09:52.439 Mean thankfully out of the bottom floor. Yeah, get around 0:09:52.440 --> 0:09:55.960 the great way up park slope. I remember talking to 0:09:56.000 --> 0:09:58.800 Anfinuca on her last day at Bank of America about ESG, 0:09:59.000 --> 0:10:01.200 something about which she is so passionate, has been for 0:10:01.240 --> 0:10:03.800 so long, and we talked about the issue of standardization 0:10:04.000 --> 0:10:06.320 that company is trying to keep up with this kind 0:10:06.360 --> 0:10:09.360 of data, have so many ways which they're filing or 0:10:09.400 --> 0:10:12.960 making filings known. Help me understand that where we are 0:10:13.000 --> 0:10:15.760 in that process of winning and simplifying data when it 0:10:15.800 --> 0:10:18.040 comes to ESG and climate issues and in particular, is 0:10:18.040 --> 0:10:20.080 it's still too much of a wild west that it 0:10:20.080 --> 0:10:20.480 should be? 0:10:20.559 --> 0:10:21.840 No, really there is. 0:10:22.120 --> 0:10:26.679 First of all, ESG is investment risk and opportunities. It's 0:10:26.840 --> 0:10:30.840 term politicized, you know, into political philosophies, but you know 0:10:30.920 --> 0:10:34.680 it's about understanding the coupit of markets and the risk 0:10:34.720 --> 0:10:37.679 associated with it with additional information, right in terms of 0:10:38.040 --> 0:10:40.320 non financial information as you know. 0:10:40.400 --> 0:10:40.679 Well. 0:10:41.160 --> 0:10:44.520 Secondly, unfortunately, we call them ratings, and we have a 0:10:44.559 --> 0:10:47.600 metric system that is similar to credit ratings. So a 0:10:47.600 --> 0:10:51.000 lot of people think that there has to be convergence 0:10:51.000 --> 0:10:53.640 of the ratings, just like credit ratings. Of convergence where 0:10:53.679 --> 0:10:56.760 credit ratings are your dimensional. It's about cash flows and 0:10:56.800 --> 0:10:59.360 the stability of the cash flows. So how far can 0:10:59.400 --> 0:11:00.840 you be in different people? 0:11:01.080 --> 0:11:01.240 Right? 0:11:01.280 --> 0:11:04.920 In terms of the rating, ESG measures a huge number 0:11:04.920 --> 0:11:09.160 of various things, so it's almost like Seales side opinion. 0:11:10.200 --> 0:11:12.800 So therefore it's very hard to think that you're going 0:11:12.840 --> 0:11:15.800 to end up with, you know, standardization of the ratings 0:11:16.120 --> 0:11:18.800 because you know, my opinion not MSCI may be different 0:11:18.840 --> 0:11:22.040 than our competitor's opinion. They may think that governance is 0:11:22.040 --> 0:11:24.319 more important. We may think that climate is more important. 0:11:24.559 --> 0:11:27.120 The key is not on the ratings. The key is 0:11:27.160 --> 0:11:29.360 to make sure the quality of the data. 0:11:30.280 --> 0:11:33.679 Henry Fernandez with us with the MSCI here at the 0:11:33.720 --> 0:11:35.880 Earthshot Prize a Plaza Hotel. 0:11:36.040 --> 0:11:38.720 David, let's talk about sort of one area in particularly 0:11:38.760 --> 0:11:41.280 through voluntary carbon credit market. I know that MSCI has 0:11:41.320 --> 0:11:44.360 kind of looked at the integrity of that data, rated 0:11:44.400 --> 0:11:47.439 that data. How representative is that of the work that 0:11:47.679 --> 0:11:49.640 you're doing when it comes to climate in particular. What 0:11:49.720 --> 0:11:52.360 did you find of looking at those data in particular? 0:11:52.480 --> 0:11:56.040 So, first of all, we believe strongly that voluntary carbon 0:11:56.120 --> 0:11:59.520 markets have to be part of the process of the 0:11:59.640 --> 0:12:03.040 risk and the portfolios of the world, and the world itself, 0:12:03.440 --> 0:12:06.040 you know, every airplace else we go markets serve a 0:12:06.080 --> 0:12:09.440 function of transferring value and transferring risk and in climate 0:12:09.480 --> 0:12:12.000 we're going to say they don't play any function. You know, 0:12:12.080 --> 0:12:13.079 it's not it's. 0:12:13.040 --> 0:12:14.560 Crazy to think that they want. 0:12:15.040 --> 0:12:17.680 The issue is how do we build integrity and you 0:12:17.720 --> 0:12:20.960 know and understanding that what you buy is what you 0:12:20.960 --> 0:12:23.160 thought you were buying and all of that. So we 0:12:23.280 --> 0:12:25.959 have come up with ratings. We have four thousand projects 0:12:26.040 --> 0:12:28.640 right now that we're rating. We just announced that last week, 0:12:28.920 --> 0:12:31.880 and we're going to bring more integrity, more data and quality. 0:12:31.920 --> 0:12:35.120 How are you rating something in Chengdu, China? Explain to 0:12:35.200 --> 0:12:40.200 me the dating data veracity we can bring to the 0:12:40.360 --> 0:12:46.120 distrust around what China is doing in carbon management and 0:12:46.280 --> 0:12:49.960 coal management. Are you optimistic that we can get a 0:12:50.000 --> 0:12:50.599 handle on that? 0:12:51.160 --> 0:12:53.520 Well, I was just in chang Dou, China a couple 0:12:53.640 --> 0:12:55.320 of months ago to begin with. 0:12:55.480 --> 0:12:56.600 But important did you. 0:12:56.600 --> 0:12:58.800 Go see the pandas absolutely good? 0:13:00.320 --> 0:13:01.600 A number one thing we've learned from. 0:13:03.360 --> 0:13:08.199 And but it's not different that how we how we 0:13:08.400 --> 0:13:12.600 classify countries, how we classify the ESGO companies, you know, 0:13:12.840 --> 0:13:15.000 how we so how we look at carbony, so we 0:13:15.040 --> 0:13:19.560 collect an enormous amount of data from independent sources, and 0:13:19.600 --> 0:13:23.880 then we sort of package it into a classification system 0:13:23.920 --> 0:13:26.520 of the various sources, and then you know, we create the. 0:13:26.559 --> 0:13:29.160 Radio for our American audience coast to coast. 0:13:29.240 --> 0:13:32.320 Thank you this morning for listening and tuning in on 0:13:32.360 --> 0:13:36.680 YouTube as well. There's a belief here that China is cheating. 0:13:37.520 --> 0:13:42.360 Does MSc I have the data amount or veracity to 0:13:42.480 --> 0:13:44.560 say that China is or is not. 0:13:44.640 --> 0:13:46.959 Cheating or any other countries for that matter. 0:13:47.880 --> 0:13:50.480 Well, I mean they could be cheating in many different aspects, 0:13:50.520 --> 0:13:55.720 you know, obviously, but in our case, we have incredible 0:13:55.800 --> 0:13:59.720 norse sources of independent data, you know, the the global press, 0:14:00.120 --> 0:14:05.360 the local press. Sometimes it is obviously control to find 0:14:05.400 --> 0:14:08.559 independent sources and verify those sources, like in the newspaper 0:14:08.559 --> 0:14:12.439 would to understand what is the nature of the climate 0:14:12.480 --> 0:14:14.760 emissions of a company, what is the nature of ESG, 0:14:15.000 --> 0:14:16.400 what is the nature of you know, in. 0:14:16.320 --> 0:14:17.920 The west of China and all of that. 0:14:18.040 --> 0:14:21.920 And it doesn't make us popular in China necessarily, but 0:14:22.120 --> 0:14:25.520 we have an independent view and an unbiased view, and 0:14:25.560 --> 0:14:28.160 that's how we rate everything, you know, including in China, right. 0:14:28.160 --> 0:14:32.360 But it's not different than Indonesia sometimes no different than Nigeria, 0:14:32.560 --> 0:14:34.160 no different than Mexico and the like. 0:14:35.080 --> 0:14:37.720 The last question here, just given your perspective having traveled 0:14:37.720 --> 0:14:39.920 to the bamboo for us and trained to do and elsewhere, 0:14:40.360 --> 0:14:42.840 what don't we understand about emerging markets today? So we're 0:14:42.920 --> 0:14:46.040 coming out of the pandemic as we see the world 0:14:46.080 --> 0:14:49.400 reopening again, what are people misunderstanding or not understanding about 0:14:49.400 --> 0:14:49.880 the health of. 0:14:49.920 --> 0:14:52.880 First of all, emergent market is a catch all, yes, right, 0:14:52.960 --> 0:14:55.840 so you have to then break it down into you know, 0:14:56.200 --> 0:15:00.080 commodity exporting markets, consumer markets, and markets that don't have 0:15:00.120 --> 0:15:01.560 a lot of competitive advantages. 0:15:01.640 --> 0:15:01.800 Right. 0:15:02.640 --> 0:15:07.120 Secondly is emerging markets are where the demographics you know, 0:15:07.160 --> 0:15:09.480 growth is in the world. They have a lot of 0:15:09.480 --> 0:15:11.960 problems obviously, you know the emerging markets is where the 0:15:12.000 --> 0:15:15.320 climate problem will be the biggest because they don't have 0:15:15.320 --> 0:15:18.880 a lot of resources, but they also present significant opportunities 0:15:18.920 --> 0:15:21.560 you know, in the world. So there is a little 0:15:21.560 --> 0:15:25.000 bit of too much of a glossover, you know, merging. 0:15:24.760 --> 0:15:27.160 Market attaps needs to you need to go more. 0:15:26.920 --> 0:15:30.280 In depth into each category and understand Brazil is different 0:15:30.280 --> 0:15:31.560 than Turkey, different than China. 0:15:32.360 --> 0:15:35.320 Thank you so much. I'd like to continue this conversation. 0:15:35.880 --> 0:15:37.080 Thank you for how I make Yeah. 0:15:36.920 --> 0:15:39.600 We'd love to see you over at Bloomberg. Henny Fernandez 0:15:39.600 --> 0:15:47.200 with us here with the ms CI on the politics 0:15:47.200 --> 0:15:49.560 of the moment. There's no one better than David Gerr 0:15:49.600 --> 0:15:51.240 to be looking state by state. 0:15:51.760 --> 0:15:52.280 So when you. 0:15:52.240 --> 0:15:55.560 Slice in die fifty states for the selection of November fifth, 0:15:55.840 --> 0:15:59.720 there's no question Colorado can be front and center with. 0:15:59.720 --> 0:16:02.720 A really rich and interesting politics. 0:16:02.800 --> 0:16:05.880 I like the ballot that the Governor of Colorado put 0:16:05.920 --> 0:16:09.400 as a ballot initiative, which is to bring back Tullagis 0:16:09.400 --> 0:16:12.960 in Boulder, Colorado. The shutting down of Tulagi's as a 0:16:13.000 --> 0:16:15.120 club was a national scandal. 0:16:15.160 --> 0:16:16.800 I hope you can bring Tulagi's back. 0:16:17.080 --> 0:16:19.440 We'll get into that. We'll let Tom Wax nostalgic about 0:16:19.440 --> 0:16:21.480 his time at the Sink, his time on the hill. 0:16:21.480 --> 0:16:24.360 Maybe we'll talk about Tom's tavern on Pearl Street as well. 0:16:25.000 --> 0:16:26.960 But we're here at the Earth Shot Summit at the 0:16:26.960 --> 0:16:30.360 Plaza Hotel on this Tuesday morning with us now the 0:16:30.400 --> 0:16:32.840 forty third governor of the State of Colorado, Jared Poulis, 0:16:33.160 --> 0:16:35.160 who is of course a supporter of and a surrogate 0:16:35.160 --> 0:16:38.280 for the Harris Walls campaign. And Governor Paul is great 0:16:38.280 --> 0:16:39.480 to speak with you. And I got to start with 0:16:39.520 --> 0:16:41.040 what has been in the news. We talked about it 0:16:41.080 --> 0:16:44.359 just a moment ago. That is the degree to which Aurora, Colorado, 0:16:44.400 --> 0:16:46.600 has been in the news. And I saw an interview 0:16:46.600 --> 0:16:50.400 on KUSA on nine news in Colorado, your former congressional colleague, 0:16:50.440 --> 0:16:53.680 Mike Kaufman, now the mayor of that city, evincing a 0:16:53.760 --> 0:16:56.040 kind of unease as he was asked about whether he 0:16:56.040 --> 0:16:58.600 would stand by former President Trump as he came to 0:16:58.680 --> 0:17:01.680 Aurora for a row to address what he's been talking 0:17:01.720 --> 0:17:03.840 about over and over again. That is what's really an 0:17:03.840 --> 0:17:07.320 apparition here. The dangers, the dangers as he describes them, 0:17:07.400 --> 0:17:10.399 Venezuelan gangs in that city, give us a sense of 0:17:10.400 --> 0:17:13.040 what's really happening on the ground there in Aurora. 0:17:13.080 --> 0:17:15.440 Well, I mean, the way the former president talks about 0:17:15.440 --> 0:17:18.080 it is frankly one of the reasons he's so unpopular here. 0:17:18.160 --> 0:17:20.919 I mean, Aurora is a thriving Auroras, a thriving city. 0:17:21.520 --> 0:17:25.800 I was there last week. Most residents are are, you know, 0:17:25.880 --> 0:17:28.240 enjoy living in one of our most culturally diversities in 0:17:28.280 --> 0:17:30.879 the state. Violent crime has been down two years in 0:17:30.920 --> 0:17:33.639 a Row car thefts are way down two years in 0:17:33.680 --> 0:17:36.080 a row. They have a new police chief. We've been 0:17:36.119 --> 0:17:37.960 working with them on law enforcement for a number of 0:17:37.960 --> 0:17:40.760 different years. So I mean, that's that's the reality in Aurora. 0:17:41.240 --> 0:17:43.160 And then you have somebody talking about it like it's 0:17:43.160 --> 0:17:46.200 some alternate reality place in Colorado and just sort of 0:17:46.240 --> 0:17:47.760 roll our eyes and say, that's not us. 0:17:48.119 --> 0:17:50.359 Governor. We look at the latest polling, which has gotten 0:17:50.400 --> 0:17:52.720 pretty granular, especially on the state by state level, looking 0:17:52.760 --> 0:17:55.600 at the issues that matter most to voters, and chief 0:17:55.600 --> 0:17:57.280 among them in the latest set of polls we've gotten 0:17:57.320 --> 0:18:00.280 has been the economy has been inflation. What are you 0:18:00.280 --> 0:18:03.639 hearing from Coloraden's about that? And what more does the 0:18:03.680 --> 0:18:06.320 ticket you support need to do to make the case 0:18:06.400 --> 0:18:08.640 that they're going to make life better for those who 0:18:08.680 --> 0:18:12.320 are still struggling, still dealing with the effects of high 0:18:12.359 --> 0:18:13.680 inflation and higher prices. 0:18:14.160 --> 0:18:16.480 Certainly high costs of inflation are one of the big 0:18:16.560 --> 0:18:19.280 challenges we face, and I think that the type of 0:18:19.320 --> 0:18:23.080 thing that we saw from the Wharton School pen came 0:18:23.119 --> 0:18:26.400 out and said that Donald Trump's big spending plan would 0:18:26.400 --> 0:18:29.600 increase the deficit more than two times more than Kamala 0:18:29.680 --> 0:18:32.720 Harris's plan. People understand that this kind of big spending 0:18:32.760 --> 0:18:35.879 mentality is inflationary. That's more of what the former president 0:18:35.920 --> 0:18:38.160 brought last time he was president. That's what he's likely 0:18:38.240 --> 0:18:41.360 to bring again. I think Kamala Harris has a responsible 0:18:41.400 --> 0:18:46.280 plan and encourages entrepreneurship, innovation, really leans into the opportunity 0:18:46.359 --> 0:18:48.760 economy from the bottom up and doesn't rely on big 0:18:48.800 --> 0:18:50.240 government spending like Donald Trump. 0:18:50.840 --> 0:18:54.080 Governor, you are living there for decades, way back before 0:18:54.119 --> 0:18:55.560 this fractious politics. 0:18:55.960 --> 0:18:58.200 The Latino vote and the turnout. 0:18:58.560 --> 0:19:01.720 What is your prediction for the size of the Latino 0:19:01.840 --> 0:19:05.960 vote in Colorado, and particularly the youth vote that many 0:19:06.080 --> 0:19:09.040 say finds an affection with the former president. 0:19:09.320 --> 0:19:12.800 There's a lot more excitement now with Kamala Harris's the nominee. 0:19:12.840 --> 0:19:15.199 I think this was a legitimate problem when Joe Biden 0:19:15.280 --> 0:19:18.760 was talking about running again, especially among the younger vote. 0:19:19.000 --> 0:19:21.080 I think we now have a candidate that really speaks 0:19:21.119 --> 0:19:23.880 to a new generation, to their aspirations, to their goals. 0:19:24.359 --> 0:19:26.000 And I'm getting a lot of assignment, whether I'm at 0:19:26.040 --> 0:19:30.480 our campuses at CU and DU and CSU, or whether 0:19:30.520 --> 0:19:34.159 it's at our community colleges or in stores and on restaurants. 0:19:34.359 --> 0:19:36.800 I think people really get that she is an agenda 0:19:36.840 --> 0:19:39.359 that works for them. Our Latino population in Colorado is 0:19:39.359 --> 0:19:41.760 incredibly diverse, right. We have people that have been families 0:19:41.760 --> 0:19:43.640 that have been here hundreds of years. We have families 0:19:43.640 --> 0:19:46.000 that arrive here in a generation or two ago. Like 0:19:46.040 --> 0:19:50.560 any group, there's a broad political diversity among them. Overwhelmingly, 0:19:50.600 --> 0:19:54.040 of course, Latino voters, just like all Colorado's, are supporting 0:19:54.080 --> 0:19:56.400 Kamala Harris and what she offers to bring down inflation, 0:19:56.760 --> 0:19:59.040 secure our border, and help grow opportunity. 0:19:59.400 --> 0:20:02.480 Gunnary, You've got to know the vice president's running made 0:20:02.480 --> 0:20:05.119 through his service and the Democratic Governor's Association. Imagine you've 0:20:05.119 --> 0:20:06.880 gotten know him well over the course of that. Tom 0:20:06.920 --> 0:20:09.680 asked me yesterday on air, so what he can bring 0:20:09.720 --> 0:20:13.080 to states like Arizona and Colorado As he makes this 0:20:13.119 --> 0:20:15.600 way along that campaign trail, it's bound to get busier. 0:20:15.960 --> 0:20:17.479 What if voters want to hear from him? What does 0:20:17.520 --> 0:20:19.600 he offer that the vice president doesn't that the incomon 0:20:19.640 --> 0:20:22.720 president didn't offer before him? What's he able to do 0:20:22.840 --> 0:20:26.000 to kind of galvanize or energize the electorate there in Colorado. 0:20:26.200 --> 0:20:27.960 So you know, Tim Walls was somebody I served with 0:20:28.000 --> 0:20:30.040 in the United States Congress as well. This is somebody 0:20:30.080 --> 0:20:33.360 who won a red district in the United States Congress. 0:20:33.359 --> 0:20:38.320 How by really understanding and being authentic with people, I mean, 0:20:38.320 --> 0:20:41.480 this is a guy who can get along with almost anybody. 0:20:41.560 --> 0:20:44.240