1 00:00:00,080 --> 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 Elisa 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 --> 00:00:37,600 Speaker 4: bringing you unique takes and in depth interviews on news, politics, 10 00:00:37,680 --> 00:00:39,120 Speaker 4: lifestyle and culture. 11 00:00:41,080 --> 00:00:43,120 Speaker 2: The US is entering the third week of its war 12 00:00:43,159 --> 00:00:46,960 Speaker 2: with Iran. Defense Secretary Pete Hegsett slammed Iranian leadership and 13 00:00:47,080 --> 00:00:50,120 Speaker 2: questioned if the new Ayatola is up for leading the country. 14 00:00:50,640 --> 00:00:55,000 Speaker 5: Ron's leadership is in no better shape. Desperate and hiding. 15 00:00:55,040 --> 00:01:01,280 Speaker 5: They've gone underground, cowering. That's what rats do we know? 16 00:01:01,400 --> 00:01:05,480 Speaker 5: The new so called not so supreme leader is wounded 17 00:01:06,280 --> 00:01:09,920 Speaker 5: and likely disfigured. He put out of statement yesterday a 18 00:01:09,959 --> 00:01:14,080 Speaker 5: week one actually, but there was no voice and there 19 00:01:14,080 --> 00:01:15,000 Speaker 5: was no video. 20 00:01:15,520 --> 00:01:18,560 Speaker 6: It was a written statement. He called for unity. 21 00:01:19,480 --> 00:01:22,680 Speaker 5: Apparently killing tens of thousands of protesters is his kind 22 00:01:22,720 --> 00:01:26,680 Speaker 5: of unity. Iran has plenty of cameras and plenty of 23 00:01:26,760 --> 00:01:29,399 Speaker 5: voice recorders. Why a written statement. 24 00:01:30,280 --> 00:01:32,680 Speaker 6: Jordian Us. This morning, Bloomberg Jerusalem reporter Dan Williams. 25 00:01:32,720 --> 00:01:35,600 Speaker 3: We've got Bloomberg's Washington correspondent Jeff Mason, who is traveling 26 00:01:35,600 --> 00:01:38,280 Speaker 3: with President Trump this weekend. He's in West Palm Beach, Florida. 27 00:01:38,319 --> 00:01:40,160 Speaker 3: And Philip Crowther is with us as well. He's an 28 00:01:40,200 --> 00:01:43,520 Speaker 3: international correspondent for the Associated Press and joins us straight side. 29 00:01:43,520 --> 00:01:45,639 Speaker 3: He's reporting from the strait of horror moves this morning, 30 00:01:46,000 --> 00:01:48,200 Speaker 3: phil let me start with you if I could, and 31 00:01:48,280 --> 00:01:50,200 Speaker 3: with that attack on Carg Island, I'm going to read 32 00:01:50,240 --> 00:01:52,640 Speaker 3: a bit from the truth social post the President posted 33 00:01:52,720 --> 00:01:54,280 Speaker 3: last night about that attack. 34 00:01:54,320 --> 00:01:55,800 Speaker 6: He said, at my direction, the. 35 00:01:55,800 --> 00:01:58,639 Speaker 3: US Central Command executed one of the most powerful bombing 36 00:01:58,760 --> 00:02:01,560 Speaker 3: raids in the history of the Middle East, the President's words, 37 00:02:01,760 --> 00:02:05,840 Speaker 3: and totally obliterated every military target in Iran's Crown Jewel 38 00:02:05,880 --> 00:02:08,720 Speaker 3: Carg Island. Our weapons, he writes, are the most powerful 39 00:02:08,760 --> 00:02:10,760 Speaker 3: and sophisticated that the world has ever known. 40 00:02:10,840 --> 00:02:12,960 Speaker 6: But for reasons of decency, I. 41 00:02:12,919 --> 00:02:15,880 Speaker 3: Have chosen not to wipe out the oil infrastructure on 42 00:02:15,960 --> 00:02:18,600 Speaker 3: the island. Would love to get your perspective from your 43 00:02:18,639 --> 00:02:20,680 Speaker 3: vantage of the significance of that. We know that ninety 44 00:02:20,680 --> 00:02:23,080 Speaker 3: percent of the oil that Iran produces goes through this 45 00:02:23,240 --> 00:02:25,600 Speaker 3: hub off the coast of Iran. How big a deal 46 00:02:25,680 --> 00:02:27,720 Speaker 3: is this and what is it signal to you that 47 00:02:27,760 --> 00:02:29,919 Speaker 3: it wasn't a kind of full attack on the oil 48 00:02:29,960 --> 00:02:31,520 Speaker 3: infrastructure on that island Fillip. 49 00:02:33,840 --> 00:02:37,440 Speaker 7: Well, first of all, it's certainly considered an escalation by Iran, 50 00:02:37,520 --> 00:02:42,480 Speaker 7: because shortly thereafter comes the statement from the Iranian Revolutionary 51 00:02:42,480 --> 00:02:46,720 Speaker 7: Guards says that because those attacks were staged here in 52 00:02:46,760 --> 00:02:49,880 Speaker 7: the United Arab Emirates, by the way, without proof from 53 00:02:49,919 --> 00:02:52,120 Speaker 7: Iran that that was actually the case, but because of 54 00:02:52,440 --> 00:02:55,520 Speaker 7: what they think were attacks that came from here, that 55 00:02:55,680 --> 00:02:59,359 Speaker 7: cities and ports in the UAE are now not safe 56 00:02:59,400 --> 00:03:03,720 Speaker 7: anymore and are legitimate targets. Iran also says that people 57 00:03:03,800 --> 00:03:08,840 Speaker 7: here should now leave those places because attacks might be coming. 58 00:03:09,120 --> 00:03:09,280 Speaker 6: Now. 59 00:03:09,280 --> 00:03:12,280 Speaker 7: It's worth saying that that has already happened. Remember that 60 00:03:12,320 --> 00:03:15,320 Speaker 7: the likes of Abu Dhabi and Dubai, the biggest cities 61 00:03:15,480 --> 00:03:18,800 Speaker 7: in the United Arab Emirates, have already seen drone attacks 62 00:03:19,120 --> 00:03:23,040 Speaker 7: since the start of the US Israeli war on Iran. 63 00:03:23,240 --> 00:03:25,359 Speaker 6: But we have though, as part of. 64 00:03:25,240 --> 00:03:27,960 Speaker 7: That Iranian escalation, at least in theory, we do have 65 00:03:28,160 --> 00:03:31,360 Speaker 7: seen something concrete on the ground. Not too far from here, 66 00:03:31,639 --> 00:03:34,480 Speaker 7: just south from here in Fujaira is a very large 67 00:03:34,520 --> 00:03:39,200 Speaker 7: oil facility that was struck earlier this morning by what 68 00:03:39,360 --> 00:03:43,440 Speaker 7: presumably were Iranian drones. We do not have a confirmation 69 00:03:43,600 --> 00:03:47,520 Speaker 7: thereof but there were two large columns of smoke billowing 70 00:03:47,640 --> 00:03:51,640 Speaker 7: from that oil facility just a short while ago. Now 71 00:03:51,680 --> 00:03:54,960 Speaker 7: that is particularly important right now because with the Strait 72 00:03:55,000 --> 00:03:56,920 Speaker 7: of Hormones and you can see the entrance of it 73 00:03:57,000 --> 00:04:00,800 Speaker 7: right behind me, with it essentially being closed, well, there 74 00:04:00,800 --> 00:04:05,000 Speaker 7: are some ways of bypassing it to a lesser degree. 75 00:04:05,000 --> 00:04:08,320 Speaker 7: There are pipelines in Saudi Arabia and the United Arab 76 00:04:08,320 --> 00:04:12,400 Speaker 7: Emirates that can bring oil away from the Persian Gulf 77 00:04:13,080 --> 00:04:16,880 Speaker 7: and to other ports where oil can be picked up 78 00:04:17,000 --> 00:04:19,120 Speaker 7: and where the Strait of Hormus does not need to 79 00:04:19,120 --> 00:04:21,600 Speaker 7: be used, and Fujaira, just down the road from here, 80 00:04:22,040 --> 00:04:24,680 Speaker 7: is one of those. Now a little note on the 81 00:04:24,720 --> 00:04:27,279 Speaker 7: Strait of Hormus I just mentioned there is very little movement, 82 00:04:27,320 --> 00:04:29,839 Speaker 7: and we have been watching it from our vantage point here, 83 00:04:30,120 --> 00:04:34,000 Speaker 7: almost no movement whatsoever. We can see dozens of ships here. 84 00:04:34,120 --> 00:04:39,640 Speaker 7: Now these are tankers that carry oil but also natural gas. 85 00:04:39,960 --> 00:04:42,400 Speaker 7: They are waiting to enter the Strait of Hormus. And 86 00:04:42,440 --> 00:04:44,760 Speaker 7: then there are hundreds in the Persian Gulf who are 87 00:04:44,760 --> 00:04:48,080 Speaker 7: waiting to get out. So far we've seen very little movement. 88 00:04:48,160 --> 00:04:51,120 Speaker 7: We do know that some China linked ships have made 89 00:04:51,120 --> 00:04:53,240 Speaker 7: their way in and out of the Strait of Hormus, 90 00:04:53,400 --> 00:04:57,680 Speaker 7: and Iranian ships as well, a tiny, tiny exception. They 91 00:04:57,720 --> 00:05:01,120 Speaker 7: are essentially what we're looking at here is a pretty 92 00:05:01,200 --> 00:05:03,599 Speaker 7: much a full on blockade of the Strait of law Moves. 93 00:05:04,120 --> 00:05:06,040 Speaker 2: All right, I want to pivot to a different peninsula, 94 00:05:06,080 --> 00:05:08,480 Speaker 2: and that's Jeff Mason, who is with the President of Florida. 95 00:05:09,200 --> 00:05:09,880 Speaker 8: Jeff and your. 96 00:05:09,839 --> 00:05:11,719 Speaker 2: Latest piece, you've got a good breakdown of what the 97 00:05:11,760 --> 00:05:15,200 Speaker 2: war is costing so far. US officials told lawmakers in 98 00:05:15,200 --> 00:05:16,800 Speaker 2: the first six days of the war with Ron costs 99 00:05:16,839 --> 00:05:20,279 Speaker 2: more than eleven point three billion, says a person familiar 100 00:05:20,320 --> 00:05:23,039 Speaker 2: with the matter, How do you think that cost is 101 00:05:23,080 --> 00:05:25,719 Speaker 2: going to go down with both members of Congress and 102 00:05:25,760 --> 00:05:28,640 Speaker 2: the American public? As this war, the President has said, 103 00:05:28,920 --> 00:05:30,320 Speaker 2: could go long, may not go long. 104 00:05:30,360 --> 00:05:31,680 Speaker 8: We're gonna have to wait till he feels it. 105 00:05:32,760 --> 00:05:34,920 Speaker 6: Yeah. I asked him that last night on the TIPE. 106 00:05:34,920 --> 00:05:35,320 Speaker 8: I heard you. 107 00:05:35,440 --> 00:05:37,159 Speaker 2: I thought that was your voice, and I was listening 108 00:05:37,160 --> 00:05:38,400 Speaker 2: to that this morning, Jeff Mason. 109 00:05:38,680 --> 00:05:41,520 Speaker 9: Yes, you were spot on there, Christina, and he said 110 00:05:42,400 --> 00:05:44,359 Speaker 9: he said it would last as long as necessary. And 111 00:05:44,600 --> 00:05:47,320 Speaker 9: I think it's worth taking a pause to talk about 112 00:05:47,320 --> 00:05:49,240 Speaker 9: that for a second, given that just a little over 113 00:05:49,240 --> 00:05:51,760 Speaker 9: a week ago, I believe when he was starting to 114 00:05:51,760 --> 00:05:55,360 Speaker 9: feel politically sensitive to the price of oil and gasoline, 115 00:05:55,680 --> 00:05:58,840 Speaker 9: he suggested that the war was going to end quickly. 116 00:05:59,640 --> 00:06:00,880 Speaker 6: He didn't give a timeline then. 117 00:06:00,960 --> 00:06:03,239 Speaker 9: He hasn't given a timeline now, but he has walked 118 00:06:03,279 --> 00:06:07,600 Speaker 9: away from that language and that action right there. Verbal 119 00:06:08,279 --> 00:06:11,600 Speaker 9: decision anyways, is something that I think markets are going 120 00:06:11,640 --> 00:06:15,440 Speaker 9: to be sensitive to. Going forward to your question about Congress. Look, 121 00:06:16,000 --> 00:06:18,600 Speaker 9: the President already has a sales pitch to make to Congress, 122 00:06:18,600 --> 00:06:20,960 Speaker 9: certainly to Democrats, which I think he's probably much less 123 00:06:21,000 --> 00:06:24,920 Speaker 9: concerned about, but more generally, there's already some tension there 124 00:06:24,960 --> 00:06:27,240 Speaker 9: about the fact that he has launched a war in 125 00:06:27,279 --> 00:06:31,040 Speaker 9: the Middle East without seeking permission from Congress. The Congress, 126 00:06:31,040 --> 00:06:34,000 Speaker 9: as you well know, also controls the purse strings and 127 00:06:34,720 --> 00:06:36,920 Speaker 9: that amount of money is no doubt something that's going 128 00:06:36,960 --> 00:06:39,559 Speaker 9: to get scrutinized. And as I like to mention because 129 00:06:39,600 --> 00:06:43,760 Speaker 9: politics is my wheelhouse, this is an election year. And 130 00:06:43,920 --> 00:06:46,560 Speaker 9: this is also a president who campaigned on and in 131 00:06:46,560 --> 00:06:50,120 Speaker 9: fact started his first year talking about government waste and 132 00:06:50,160 --> 00:06:51,919 Speaker 9: about cutting down on government spending. 133 00:06:52,279 --> 00:06:56,080 Speaker 6: Obviously, a war costs money. A war does not achieved 134 00:06:56,520 --> 00:06:59,520 Speaker 6: those particular goals. Dan Williams, let me turn to you. 135 00:06:59,560 --> 00:07:01,960 Speaker 3: I want to ask ask about Israel's incursion into Lebanon, 136 00:07:02,000 --> 00:07:04,520 Speaker 3: which is really escalated here and I'm very curious about 137 00:07:04,560 --> 00:07:07,040 Speaker 3: the end goals for Israel. I know that the UN 138 00:07:07,080 --> 00:07:09,440 Speaker 3: Secretary General Antonio gu Teresh was on the ground in 139 00:07:09,480 --> 00:07:11,800 Speaker 3: Beirut in recent days. Let me play a bit of 140 00:07:11,800 --> 00:07:14,240 Speaker 3: tape of what he said to both of those feuding parties, 141 00:07:14,280 --> 00:07:15,200 Speaker 3: Lebanon and Israel. 142 00:07:15,880 --> 00:07:22,400 Speaker 10: My strong appeal to postparties, to Asbola and to Israel 143 00:07:23,600 --> 00:07:27,520 Speaker 10: is for a ceasefire, to stop the war and to 144 00:07:27,640 --> 00:07:32,320 Speaker 10: pave the way to find a solution that would allow 145 00:07:33,040 --> 00:07:41,600 Speaker 10: Lebanon to become a country independent with sovereignity and territory integrity. 146 00:07:41,680 --> 00:07:44,840 Speaker 3: Respected the UN Secretary General saying he made that trip 147 00:07:44,880 --> 00:07:48,120 Speaker 3: in solidarity his word with the Lebanese people. We see 148 00:07:48,120 --> 00:07:51,120 Speaker 3: reporting from Axios this morning that Israel's planning to significantly 149 00:07:51,160 --> 00:07:54,520 Speaker 3: expand its ground operation in Lebanon with the aim of 150 00:07:54,560 --> 00:07:57,840 Speaker 3: dismantling Hespola's military infrastructure. That's according to Israeli and US 151 00:07:57,880 --> 00:08:01,120 Speaker 3: officials Axio sites quote. This could be the largest Israeli 152 00:08:01,160 --> 00:08:04,040 Speaker 3: ground invasion of its northern neighbor since two thousand and six, 153 00:08:04,120 --> 00:08:09,040 Speaker 3: dragging Lebanon to the epicenter of the escalating war with Iran. Dan, 154 00:08:09,120 --> 00:08:11,520 Speaker 3: I'm very curious what you're hearing from Israeli officials about 155 00:08:11,520 --> 00:08:15,520 Speaker 3: the objectives of this military campaign, this effort here to 156 00:08:15,600 --> 00:08:18,000 Speaker 3: encroach on, perhaps seize more territory in Lebanon. 157 00:08:19,080 --> 00:08:21,360 Speaker 11: All that's certainly the mood music. In fact, it was 158 00:08:21,400 --> 00:08:25,160 Speaker 11: stated explicitly by the Israeli Defense Minister that, as he 159 00:08:25,280 --> 00:08:28,640 Speaker 11: put it, the Lebanese state had failed to impose its 160 00:08:28,720 --> 00:08:32,199 Speaker 11: authority over the entirety of Lebanon, meaning reining in that 161 00:08:32,280 --> 00:08:35,600 Speaker 11: subnational group has bela, a group that's clearly a cats 162 00:08:35,720 --> 00:08:39,200 Speaker 11: ull for a run, a group that reopened the Lebanese 163 00:08:39,200 --> 00:08:42,160 Speaker 11: front with Israel in solidarity with Iran a couple of 164 00:08:42,200 --> 00:08:45,520 Speaker 11: days into this Gulf War. This Iran war that we've 165 00:08:45,520 --> 00:08:48,400 Speaker 11: all been covering and dealing with. So these Raelies haven't 166 00:08:48,440 --> 00:08:52,480 Speaker 11: said explicitly how deeply they're willing to go into southern Lebanon. 167 00:08:52,520 --> 00:08:56,120 Speaker 11: They have ordered out civilians. Hundreds of thousands civilians have 168 00:08:56,200 --> 00:08:59,320 Speaker 11: now fled accordingly north of the Litani River, which is 169 00:08:59,360 --> 00:09:02,800 Speaker 11: the natural demas location of southern Lebanon. It makes up 170 00:09:02,800 --> 00:09:06,240 Speaker 11: something like ten percent of the Lebanese landmarks there. If 171 00:09:06,280 --> 00:09:08,640 Speaker 11: you believe the access report, Israel is willing to go 172 00:09:08,720 --> 00:09:12,400 Speaker 11: all the way up to the Litany Again. Perhaps there 173 00:09:12,480 --> 00:09:17,160 Speaker 11: is some saber rattling here, some muscle flexing. Given that 174 00:09:17,240 --> 00:09:20,240 Speaker 11: an invasion on that scale would really require a couple 175 00:09:20,360 --> 00:09:23,800 Speaker 11: divisions worth of troops, these realies may need time to 176 00:09:24,040 --> 00:09:27,040 Speaker 11: muster that number of men. They have been doing so 177 00:09:27,440 --> 00:09:30,160 Speaker 11: in recent days. I'm not sure they would want to. 178 00:09:30,200 --> 00:09:32,080 Speaker 11: I think they would still want to see the Lebanese 179 00:09:32,080 --> 00:09:36,160 Speaker 11: state intervening, coming in at last moment to really impose 180 00:09:36,200 --> 00:09:39,480 Speaker 11: its authority on Hesbela. But given that Heswelder, especially in 181 00:09:39,520 --> 00:09:43,520 Speaker 11: recent days, has been escalating rocket attacks into northern Israel, 182 00:09:43,880 --> 00:09:47,040 Speaker 11: Israel responding in kind, it would appear the escalation vecer 183 00:09:47,200 --> 00:09:48,199 Speaker 11: is very very clear here. 184 00:09:48,920 --> 00:09:50,960 Speaker 2: Pop I want to ask you because you're in the area. 185 00:09:51,040 --> 00:09:52,960 Speaker 2: You were talking about those stranded ships, and later on 186 00:09:53,000 --> 00:09:55,280 Speaker 2: the show, we're going to talk to you unofficial about 187 00:09:55,320 --> 00:09:57,680 Speaker 2: what these international agencies are trying to do to help 188 00:09:57,720 --> 00:10:02,320 Speaker 2: the stranded sailors. About twenty thousand stranded merchant marines and 189 00:10:02,320 --> 00:10:05,440 Speaker 2: sailors on those vessels. Four have already been killed, seven injured, 190 00:10:05,480 --> 00:10:07,760 Speaker 2: and at least seven ships have been hit either by 191 00:10:07,800 --> 00:10:11,440 Speaker 2: flying debris or other explosions in the region. What are 192 00:10:11,480 --> 00:10:13,720 Speaker 2: the different governments trying to do? Are those vessels just 193 00:10:13,760 --> 00:10:16,680 Speaker 2: sitting out there? Are these sailors coming into port? Are 194 00:10:16,720 --> 00:10:18,679 Speaker 2: they getting supplies out there? Can you give us kind 195 00:10:18,679 --> 00:10:19,280 Speaker 2: of a situation? 196 00:10:21,679 --> 00:10:24,040 Speaker 7: No, Look, the truth is there is pretty much no 197 00:10:24,240 --> 00:10:28,120 Speaker 7: movement whatsoever. A colleague of mine, though today was in 198 00:10:28,160 --> 00:10:33,080 Speaker 7: touch with one of the sailors on one of those tankers, 199 00:10:33,080 --> 00:10:35,840 Speaker 7: in fact, waiting to go through the Strait of Hormones. 200 00:10:36,240 --> 00:10:38,400 Speaker 7: He actually told him that he felt a little bit 201 00:10:38,440 --> 00:10:41,400 Speaker 7: like a sitting duck and was a little bit afraid 202 00:10:41,640 --> 00:10:45,200 Speaker 7: that the oil company or maybe the transport company wasn't 203 00:10:45,240 --> 00:10:49,000 Speaker 7: clear there who he mentioned, was feeling the pressure for 204 00:10:49,040 --> 00:10:52,720 Speaker 7: financial reasons to actually move through the Strait of hormones 205 00:10:53,080 --> 00:10:57,240 Speaker 7: despite the dangers. So that is the situation these seamen 206 00:10:57,400 --> 00:11:01,000 Speaker 7: are in. Essentially, the pressure to make money and to 207 00:11:01,240 --> 00:11:04,080 Speaker 7: move through the Strait of Hormus is huge. It's just 208 00:11:04,240 --> 00:11:08,480 Speaker 7: right now that because of these recent Iranian attacks, and 209 00:11:08,520 --> 00:11:10,480 Speaker 7: there have been several of them as you mentioned, and 210 00:11:10,520 --> 00:11:13,720 Speaker 7: the threats that more will be forthcoming, that the evaluation 211 00:11:13,880 --> 00:11:16,960 Speaker 7: right now is simply it is too dangerous to move 212 00:11:17,120 --> 00:11:19,960 Speaker 7: through the Strait of Hormus. Insurance companies, as I'm sure 213 00:11:20,080 --> 00:11:23,079 Speaker 7: you have spoken about over the last two weeks, insurance 214 00:11:23,080 --> 00:11:27,800 Speaker 7: companies have sky rocketing rates and they also, of course 215 00:11:27,960 --> 00:11:31,200 Speaker 7: deem it very very dangerous indeed to pass through the 216 00:11:31,240 --> 00:11:33,679 Speaker 7: Strait of Hormuz. So there is no movement here, not 217 00:11:33,920 --> 00:11:35,920 Speaker 7: in and out of the strait, and not towards any 218 00:11:36,240 --> 00:11:39,439 Speaker 7: ports either. Now generally these are ships and it is 219 00:11:39,480 --> 00:11:43,719 Speaker 7: a generalization, but still they tend to have enough provisions 220 00:11:43,760 --> 00:11:45,920 Speaker 7: on board once they get close to the Strait of 221 00:11:45,960 --> 00:11:50,640 Speaker 7: Hormos because they know, especially during this time, that something 222 00:11:50,760 --> 00:11:53,560 Speaker 7: bad could happen and then they might get stuck. So 223 00:11:53,679 --> 00:11:57,160 Speaker 7: in that sense they should be Okay, Now, what are 224 00:11:57,160 --> 00:12:00,240 Speaker 7: government's doing. Of course they want to get there, yeah, 225 00:12:00,400 --> 00:12:03,240 Speaker 7: citizens out, but there's very little they can do that 226 00:12:03,280 --> 00:12:05,760 Speaker 7: brings us onto an entirely different subject in a sense, 227 00:12:05,880 --> 00:12:08,800 Speaker 7: is what can foreign governments do to actually get these 228 00:12:08,840 --> 00:12:11,319 Speaker 7: ships moving through the Strait of Hormuz. Of course, the 229 00:12:11,360 --> 00:12:15,040 Speaker 7: Trump administration has spoken about the possibility of escorting ships. 230 00:12:15,120 --> 00:12:17,560 Speaker 7: It's not something that is happening right now, and it's 231 00:12:17,559 --> 00:12:20,480 Speaker 7: also something that is very hard to put into place. 232 00:12:20,559 --> 00:12:23,960 Speaker 7: It is logistically very very hard. And it's also a 233 00:12:24,360 --> 00:12:26,960 Speaker 7: military option in a sense, because as long as Iran 234 00:12:27,040 --> 00:12:30,320 Speaker 7: has the power, the firepower to attack ships and to 235 00:12:30,440 --> 00:12:33,559 Speaker 7: use drones on cities here in the United Arab Emirates, well, 236 00:12:33,559 --> 00:12:35,840 Speaker 7: then it should also be powerful enough to take on 237 00:12:35,880 --> 00:12:38,760 Speaker 7: the US Navy if it brings in escort ships. Now 238 00:12:38,760 --> 00:12:42,000 Speaker 7: there's another attempt to France is involved in a potential 239 00:12:42,040 --> 00:12:44,719 Speaker 7: international coalition to escort ships in and out of the 240 00:12:44,720 --> 00:12:48,120 Speaker 7: Strait of Hormuz. Again, that takes weeks to set up. 241 00:12:48,160 --> 00:12:49,720 Speaker 7: It's not going to happen anytime soon. 242 00:12:50,040 --> 00:12:51,920 Speaker 3: Jeff Mason very quickly want to wrap up with you here. 243 00:12:51,920 --> 00:12:53,400 Speaker 3: We got about a minute left and we're kind of 244 00:12:53,400 --> 00:12:55,880 Speaker 3: threading through the conversation comments. We've gone from the President 245 00:12:55,880 --> 00:12:58,680 Speaker 3: to Brian Kilmead and on President Trump's truth social site. 246 00:12:59,000 --> 00:13:01,240 Speaker 3: He writes, the fake news media hates to report how 247 00:13:01,240 --> 00:13:03,640 Speaker 3: well the US military has done against Iran, which is 248 00:13:03,679 --> 00:13:06,240 Speaker 3: totally defeated, and wants a deal, but not a deal 249 00:13:06,520 --> 00:13:08,960 Speaker 3: that I would accept. And we see this news that 250 00:13:09,000 --> 00:13:11,600 Speaker 3: the US is sending twenty five hundred additional marines to 251 00:13:11,679 --> 00:13:14,200 Speaker 3: the region. You're read on what that poor tends. It's 252 00:13:14,240 --> 00:13:16,480 Speaker 3: going to take about a week for them to get there. 253 00:13:16,760 --> 00:13:18,520 Speaker 3: What does it say about the President's appetite for a 254 00:13:18,559 --> 00:13:19,680 Speaker 3: deal in the minute we have left? 255 00:13:20,559 --> 00:13:20,760 Speaker 6: Well? 256 00:13:20,840 --> 00:13:23,040 Speaker 9: Number one, I would say that the President is telling 257 00:13:23,080 --> 00:13:25,560 Speaker 9: the truth when he says the war's going to go 258 00:13:25,600 --> 00:13:28,480 Speaker 9: on as long as necessary. It doesn't seem to me 259 00:13:28,640 --> 00:13:31,000 Speaker 9: like he has an endgame in mind, and it does 260 00:13:31,040 --> 00:13:35,240 Speaker 9: seem like he's prepared to increase resources to achieve the 261 00:13:35,240 --> 00:13:37,920 Speaker 9: goals that he's looking for. I wouldn't take seriously what 262 00:13:38,040 --> 00:13:40,679 Speaker 9: he or what Secretary Heigks has said yesterday about how 263 00:13:40,679 --> 00:13:42,559 Speaker 9: the media should be covering the war. It's our job 264 00:13:42,640 --> 00:13:45,360 Speaker 9: to cover it truthfully and factually and not take tips 265 00:13:45,360 --> 00:13:49,000 Speaker 9: from the government. But I would say, from an analytical perspective, 266 00:13:49,760 --> 00:13:53,920 Speaker 9: it is not unrealistic to conclude that they're committed for 267 00:13:54,000 --> 00:13:56,760 Speaker 9: a long term, even if that has a negative impact 268 00:13:56,760 --> 00:13:59,560 Speaker 9: on the economy and a negative impact on the president's 269 00:13:59,600 --> 00:14:01,240 Speaker 9: political prospects in November. 270 00:14:01,320 --> 00:14:03,120 Speaker 3: Jeff Mason, thank you very much. Jeff Mason, who covers 271 00:14:03,160 --> 00:14:04,920 Speaker 3: the White House for us here at Bloomberg. Dan Williams, 272 00:14:05,040 --> 00:14:07,839 Speaker 3: our Jerusalem reporter with us this morning. And Philip Crowther, 273 00:14:07,880 --> 00:14:09,560 Speaker 3: who's with the AP on the straight of corn Mows, 274 00:14:09,559 --> 00:14:10,240 Speaker 3: thank you very much. 275 00:14:10,120 --> 00:14:10,480 Speaker 6: For the time. 276 00:14:10,720 --> 00:14:14,920 Speaker 3: Thanks guys, stay with us for more on Bloomberg this weekend. 277 00:14:15,240 --> 00:14:29,520 Speaker 3: Right after this, the war in Iran continuing to ESK 278 00:14:29,600 --> 00:14:31,600 Speaker 3: late and Wine, as we've been discussing so far this morning. 279 00:14:31,640 --> 00:14:34,680 Speaker 3: President Trump taking to truth social late last night claiming 280 00:14:34,680 --> 00:14:37,960 Speaker 3: iron had plans to take over the Middle East, obliterating Israel, 281 00:14:37,960 --> 00:14:41,320 Speaker 3: but now quote just like Iran itself, those plans are 282 00:14:41,360 --> 00:14:42,080 Speaker 3: now dead. 283 00:14:42,160 --> 00:14:42,480 Speaker 8: All right. 284 00:14:42,600 --> 00:14:45,360 Speaker 2: Joining us now is retired Colonel Joel Raeburn. He's a 285 00:14:45,360 --> 00:14:47,680 Speaker 2: former member of the National Security Council staff. During President 286 00:14:47,680 --> 00:14:50,640 Speaker 2: Trump's first administration. He was also Envoyd Assyria and a 287 00:14:50,680 --> 00:14:53,120 Speaker 2: senior fellow at the Center for Peace and Security in 288 00:14:53,120 --> 00:14:55,520 Speaker 2: the Middle East at the Hudston Hudson. Excuse me, I 289 00:14:55,560 --> 00:14:58,680 Speaker 2: almost got through that whole title. At the Hudson Institute. Jill, 290 00:14:58,720 --> 00:15:01,480 Speaker 2: thank you so much for joining us. Given all your 291 00:15:01,720 --> 00:15:03,640 Speaker 2: experience in the region and at the State Department, I 292 00:15:03,680 --> 00:15:05,760 Speaker 2: do want to ask you your take on some of 293 00:15:05,760 --> 00:15:08,600 Speaker 2: these evacuations we saw. It appears at least the embassy 294 00:15:08,640 --> 00:15:11,320 Speaker 2: compound in Baghdad seems to have taken us strike this morning, 295 00:15:11,360 --> 00:15:14,400 Speaker 2: there was smoke rising over that horizon. We've also got 296 00:15:14,520 --> 00:15:19,560 Speaker 2: ordered departures in Bahrain, Iraq, Jordan, Kuwait, Lebanon, Kutar, Saudi Arabia, UAE, 297 00:15:19,720 --> 00:15:22,440 Speaker 2: and a regional consulate in Turkey. What does it do 298 00:15:22,880 --> 00:15:26,320 Speaker 2: for State Department operations when you have so much going 299 00:15:26,320 --> 00:15:28,000 Speaker 2: on in a region, you need all those people who 300 00:15:28,040 --> 00:15:30,160 Speaker 2: know those countries, and you also need them out of 301 00:15:30,160 --> 00:15:30,720 Speaker 2: harm's way. 302 00:15:32,360 --> 00:15:33,360 Speaker 6: Well, good to be with you. 303 00:15:33,480 --> 00:15:37,280 Speaker 12: Yeah, that's a tough situation because the Iranian regime has 304 00:15:37,360 --> 00:15:40,880 Speaker 12: been targeting those diplomatic facilities. Because the Iranian regime doesn't 305 00:15:40,880 --> 00:15:44,720 Speaker 12: really distinguish between military and civilian targets. They will target 306 00:15:44,920 --> 00:15:49,520 Speaker 12: each indiscriminately as though they're equivalent. They don't respect that division, 307 00:15:49,560 --> 00:15:51,480 Speaker 12: So our diplomats on the ground do have to be 308 00:15:51,640 --> 00:15:55,200 Speaker 12: cognizant of that. It's not the first time that We've 309 00:15:55,240 --> 00:15:57,920 Speaker 12: had to do this kind of order departure or authorized 310 00:15:57,920 --> 00:16:01,840 Speaker 12: departure from some of these stations because it's the Iranians 311 00:16:01,840 --> 00:16:05,640 Speaker 12: before who have threatened those facilities. So yeah, it cuts 312 00:16:05,640 --> 00:16:08,320 Speaker 12: down on our diplomat's ability to do their work and 313 00:16:08,440 --> 00:16:11,520 Speaker 12: engage with host nations in those places, but they have 314 00:16:11,560 --> 00:16:12,480 Speaker 12: to be kept safe. 315 00:16:12,960 --> 00:16:14,440 Speaker 3: I want to get your read on this story that's 316 00:16:14,440 --> 00:16:17,200 Speaker 3: developing that the administration is sending twenty five hundred additional 317 00:16:17,200 --> 00:16:19,680 Speaker 3: marines to the region in light of what's been happening 318 00:16:19,720 --> 00:16:22,000 Speaker 3: over the last couple of weeks, and that will kind 319 00:16:22,000 --> 00:16:24,840 Speaker 3: of add to the total fifty thousand American troops that 320 00:16:24,880 --> 00:16:26,160 Speaker 3: are in the region right now. 321 00:16:26,680 --> 00:16:29,520 Speaker 6: What does that portend to you? How do you read that? 322 00:16:29,640 --> 00:16:31,400 Speaker 3: And then I'm curious as we listen to the President 323 00:16:31,520 --> 00:16:33,560 Speaker 3: not ruling out the prospects there being boots on the 324 00:16:33,560 --> 00:16:37,840 Speaker 3: ground unequivocally, does it concern you? Does it raise an 325 00:16:37,840 --> 00:16:39,280 Speaker 3: eyebrow that this could be where we're headed if we 326 00:16:39,320 --> 00:16:40,800 Speaker 3: have that many new troops headed to the region. 327 00:16:41,640 --> 00:16:43,920 Speaker 12: Well, no, because in addition to being a state department, 328 00:16:44,040 --> 00:16:46,480 Speaker 12: a former state imparted person in a former life for 329 00:16:46,520 --> 00:16:48,480 Speaker 12: twenty six years, I was an army officer, and I 330 00:16:48,520 --> 00:16:52,520 Speaker 12: was actually a military planner and analyst at US Central Command, 331 00:16:52,840 --> 00:16:56,280 Speaker 12: the headquarters that is carrying out this campaign in lead 332 00:16:56,360 --> 00:16:59,600 Speaker 12: for the United States, and so I was familiar back then, 333 00:16:59,680 --> 00:17:02,800 Speaker 12: in the old olden days with an earlier version of 334 00:17:02,840 --> 00:17:06,119 Speaker 12: this campaign plan and the idea of having a marine 335 00:17:06,160 --> 00:17:09,800 Speaker 12: expeditionary unit to do the kind of operations that you 336 00:17:09,800 --> 00:17:13,800 Speaker 12: would need to protect commercial vessels, commercial shipping going through 337 00:17:13,840 --> 00:17:15,679 Speaker 12: the Straight of Hormos, to be able to do operations 338 00:17:15,720 --> 00:17:18,800 Speaker 12: in the Persian Gulf literal, to protect shipping, to be 339 00:17:18,840 --> 00:17:21,399 Speaker 12: able to would give the President, would give the Sentcom 340 00:17:21,440 --> 00:17:25,440 Speaker 12: commander more options, and it actually signals, I think it's 341 00:17:25,480 --> 00:17:28,960 Speaker 12: a good signal to the Runian regime leaders in Tehran 342 00:17:29,280 --> 00:17:32,480 Speaker 12: that the President and Admiral Cooper are keeping that option open. 343 00:17:32,920 --> 00:17:35,680 Speaker 12: That's precisely the kind of very well trained marine force 344 00:17:35,760 --> 00:17:37,359 Speaker 12: that you would need in order to be able to 345 00:17:37,400 --> 00:17:40,360 Speaker 12: seize threatening vessels, in order to be able to disrupt 346 00:17:40,400 --> 00:17:42,960 Speaker 12: mind laying operations if the Iranian regime were to do that, 347 00:17:43,440 --> 00:17:47,280 Speaker 12: or if they were want to try to seize some 348 00:17:47,320 --> 00:17:51,000 Speaker 12: sort of Iranian island, maybe carg Island or other facilities 349 00:17:51,040 --> 00:17:55,119 Speaker 12: like that. It's signaling that the US has that strategic option. 350 00:17:55,640 --> 00:17:58,280 Speaker 2: Colonel, Since, as you're saying, this plan did exist during 351 00:17:58,320 --> 00:18:03,280 Speaker 2: the first term, how closely is this administration's action following 352 00:18:03,320 --> 00:18:05,520 Speaker 2: that plan and what comes next? 353 00:18:05,920 --> 00:18:09,120 Speaker 12: Well, I don't have any inside information on that. Being retired, 354 00:18:09,160 --> 00:18:11,240 Speaker 12: I'm out of the loop, so I can. 355 00:18:11,320 --> 00:18:13,359 Speaker 2: You were in the loop the first time around. So 356 00:18:13,359 --> 00:18:15,160 Speaker 2: so far is it playing out according to a plan? 357 00:18:15,880 --> 00:18:19,720 Speaker 12: Well, it's so much, so much more advanced. I mean 358 00:18:20,000 --> 00:18:23,800 Speaker 12: as a as someone who was formerly familiar with an 359 00:18:23,800 --> 00:18:28,000 Speaker 12: earlier version of that plan. The military technology advances just 360 00:18:28,080 --> 00:18:30,439 Speaker 12: in the fifteen years or so since I was involved 361 00:18:30,480 --> 00:18:33,639 Speaker 12: in that sort of thing are just astonishing. And the 362 00:18:34,000 --> 00:18:37,080 Speaker 12: military imbalance between the US and Israel on one side 363 00:18:37,080 --> 00:18:39,840 Speaker 12: and the Runnie regime on the other is far wider 364 00:18:41,280 --> 00:18:43,800 Speaker 12: than Syncom would have enjoyed back then under General Abaza, 365 00:18:43,920 --> 00:18:46,880 Speaker 12: General Portrayus and so on. It's if you had told 366 00:18:46,920 --> 00:18:49,720 Speaker 12: me in two thousand and nine that two weeks into 367 00:18:49,760 --> 00:18:53,560 Speaker 12: this campaign plan, the running leadership would be decimated. Their 368 00:18:53,560 --> 00:18:55,880 Speaker 12: ballistic missiles would be down by over ninety percent, They're 369 00:18:55,920 --> 00:18:57,920 Speaker 12: drones down by over ninety percent. They would have no 370 00:18:58,320 --> 00:19:01,160 Speaker 12: operable air force, navy, missile defense, and air defense. I'd 371 00:19:01,160 --> 00:19:05,160 Speaker 12: have told you you were smoking something. It's just astonishing 372 00:19:06,840 --> 00:19:10,199 Speaker 12: the military progress this being made. You know at that 373 00:19:10,960 --> 00:19:14,200 Speaker 12: at an operational level, you talk about the military progress made. 374 00:19:14,200 --> 00:19:16,280 Speaker 3: The President sat down with Brian Kilmead on his radio 375 00:19:16,320 --> 00:19:18,400 Speaker 3: show a little earlier this week and talked about. 376 00:19:18,640 --> 00:19:20,800 Speaker 6: What an endgame might look like. Let's take a listen 377 00:19:20,800 --> 00:19:22,160 Speaker 6: to what he had to say to Brian. Kill meat 378 00:19:22,680 --> 00:19:25,440 Speaker 6: with the greatest economy and histrue, do we still do? 379 00:19:25,680 --> 00:19:25,840 Speaker 13: Oh? 380 00:19:25,880 --> 00:19:28,639 Speaker 4: This will bounce right back when it's over, and I 381 00:19:28,680 --> 00:19:30,720 Speaker 4: don't think it's going to be long when it's over. 382 00:19:30,800 --> 00:19:33,479 Speaker 6: This is good. Abounce right back so fast. When are 383 00:19:33,480 --> 00:19:36,800 Speaker 6: you going to know when it's over? When I feel it? Okay, 384 00:19:36,880 --> 00:19:38,720 Speaker 6: fill it up my bones, colonel. 385 00:19:38,720 --> 00:19:40,120 Speaker 3: I want to get your reaction to that last line, 386 00:19:40,160 --> 00:19:42,080 Speaker 3: when he feels it in his bones. But you very 387 00:19:42,119 --> 00:19:44,200 Speaker 3: clearly laid out that list of all of the defensive 388 00:19:44,200 --> 00:19:45,720 Speaker 3: targets that have been hit by by the US and 389 00:19:45,760 --> 00:19:48,480 Speaker 3: taken off line that Supreme Leader killed. As you mentioned, 390 00:19:49,160 --> 00:19:51,240 Speaker 3: your sense from your experience in the first term and 391 00:19:51,240 --> 00:19:53,080 Speaker 3: from what you've observed here over the last few weeks, 392 00:19:53,080 --> 00:19:55,119 Speaker 3: of what the endgame is likely to be here and 393 00:19:55,160 --> 00:19:57,120 Speaker 3: what the timeline this administration is working with. 394 00:19:57,880 --> 00:20:00,960 Speaker 12: Well, there's a military endgame, there's a military state that's 395 00:20:01,040 --> 00:20:04,480 Speaker 12: very clear. There's a political in state that's that's something different. 396 00:20:04,520 --> 00:20:08,040 Speaker 12: On the military side. The objectives that they laid out 397 00:20:08,280 --> 00:20:11,639 Speaker 12: the President's Secretary Rubio at the beginning of eliminating the 398 00:20:11,680 --> 00:20:16,560 Speaker 12: nuclear program, ballistic missile and drone program, the ability for 399 00:20:16,600 --> 00:20:19,880 Speaker 12: the running regime to use terrorist proxies outside their borders. 400 00:20:20,400 --> 00:20:24,000 Speaker 12: Those are all well on their way to being accomplished. 401 00:20:24,080 --> 00:20:28,080 Speaker 12: And then the further phase of essentially eliminating the Runnian 402 00:20:28,119 --> 00:20:31,600 Speaker 12: regime's production capacity to be able to regenerate those kind 403 00:20:31,640 --> 00:20:34,399 Speaker 12: of things if there is a cessation of hostilities with 404 00:20:34,440 --> 00:20:36,720 Speaker 12: an Iranian regimes still there in place now, the political 405 00:20:36,720 --> 00:20:40,040 Speaker 12: in state is still unclear, and it seems it seems 406 00:20:40,119 --> 00:20:42,399 Speaker 12: to me as I was a staffer for President Trump, 407 00:20:42,640 --> 00:20:45,359 Speaker 12: we all know the President is someone who likes to 408 00:20:45,440 --> 00:20:49,080 Speaker 12: keep his strategic options open. He enjoys strategic ambiguity because 409 00:20:49,080 --> 00:20:52,280 Speaker 12: it gives him leverage in negotiating outcomes, and I think 410 00:20:52,320 --> 00:20:53,040 Speaker 12: he's still. 411 00:20:52,840 --> 00:20:53,600 Speaker 6: Doing that here. 412 00:20:54,080 --> 00:20:58,320 Speaker 12: Whether he's willing to tolerate an end of campaign with 413 00:20:58,359 --> 00:21:01,200 Speaker 12: the rump Iranian regime still in place but greatly weakened 414 00:21:01,240 --> 00:21:04,040 Speaker 12: with lacking the capacity to go on into the future 415 00:21:04,200 --> 00:21:08,239 Speaker 12: is something he's keeping. He's keeping that option open's and 416 00:21:08,280 --> 00:21:11,720 Speaker 12: that creates confusion on the Iranian regime side. I think 417 00:21:11,760 --> 00:21:14,520 Speaker 12: that actually hinders their ability to respond, which is what 418 00:21:14,560 --> 00:21:16,240 Speaker 12: you want, colonel quickly. 419 00:21:16,040 --> 00:21:16,760 Speaker 8: Before we let you go. 420 00:21:17,119 --> 00:21:20,480 Speaker 2: The Secretary Defense admitted in his press conference this week 421 00:21:20,520 --> 00:21:24,440 Speaker 2: saying that I can't say that we anticipated necessarily that's 422 00:21:24,480 --> 00:21:27,360 Speaker 2: how Iran would react. He was being asked about Iran's 423 00:21:27,359 --> 00:21:30,000 Speaker 2: striking regional allies, which in his defense, I think did 424 00:21:30,240 --> 00:21:32,640 Speaker 2: take quite a people, quite a lot of people, even. 425 00:21:32,520 --> 00:21:33,840 Speaker 8: Regional experts, by surprise. 426 00:21:34,640 --> 00:21:37,879 Speaker 2: Should the US have anticipated that, and how should the 427 00:21:38,000 --> 00:21:40,800 Speaker 2: US respond to an Iran that is willing to strike 428 00:21:40,880 --> 00:21:42,000 Speaker 2: friends and neighbors in the region. 429 00:21:42,880 --> 00:21:45,960 Speaker 12: Well, I think when you're planning, when you're going through 430 00:21:46,000 --> 00:21:49,000 Speaker 12: the permutations and possible scenarios, if you're planning out your 431 00:21:49,040 --> 00:21:52,480 Speaker 12: war gaming a campaign plan like this, I think absolutely 432 00:21:52,560 --> 00:21:55,200 Speaker 12: the planners would have had a scenario where they said, 433 00:21:55,200 --> 00:21:58,160 Speaker 12: the Irani regime just lash out at the region around it. 434 00:21:59,119 --> 00:22:02,800 Speaker 12: You would consider that, you would consider that a worst 435 00:22:02,800 --> 00:22:06,120 Speaker 12: case scenario, but you'd also consider it I think low probability, 436 00:22:06,200 --> 00:22:11,000 Speaker 12: because it's something that's so counterproductive to Iranian interests. 437 00:22:11,080 --> 00:22:12,359 Speaker 6: It's harmed them so much. 438 00:22:13,359 --> 00:22:16,480 Speaker 12: The entire rest of the Arab world and Turkey were 439 00:22:16,560 --> 00:22:19,080 Speaker 12: drawn into a conflict that they had intended to stay 440 00:22:19,080 --> 00:22:20,080 Speaker 12: on the sideline. 441 00:22:20,160 --> 00:22:22,080 Speaker 3: Colonel, thank you very much, drawing from your expertise, so 442 00:22:22,160 --> 00:22:23,560 Speaker 3: yes at ten Colm, as you mentioned, and on the 443 00:22:23,640 --> 00:22:24,239 Speaker 3: NC as well. 444 00:22:24,280 --> 00:22:26,800 Speaker 6: Grateful for your time on this morning. That's Rape Raber 445 00:22:26,880 --> 00:22:28,880 Speaker 6: enjoying us here on Bloomberg this week. 446 00:22:30,119 --> 00:22:32,320 Speaker 8: Stay with us for more on Bloomberg this weekend. 447 00:22:32,520 --> 00:22:48,520 Speaker 2: Right after this, a several days ago, as part of 448 00:22:48,520 --> 00:22:51,240 Speaker 2: our c Sweet Saturday segments, we spoke to the CEO 449 00:22:51,320 --> 00:22:54,720 Speaker 2: of Train Technologies, Dave Ragnery, about his company and how 450 00:22:54,760 --> 00:22:57,520 Speaker 2: they are transforming in an ever changing climate. 451 00:22:58,320 --> 00:23:02,399 Speaker 14: Think of Trained Technologies were a globe HVAC player, Okay, 452 00:23:02,400 --> 00:23:04,800 Speaker 14: so I think of a heating, ventilation and air conditioning. 453 00:23:04,800 --> 00:23:08,879 Speaker 14: We're also a leader in transport refrigeration with our Thermal 454 00:23:08,960 --> 00:23:12,399 Speaker 14: King brand. We're a pure play climate innovator and you know, 455 00:23:12,480 --> 00:23:15,080 Speaker 14: our purpose is to challenge what's possible and innovate for 456 00:23:15,119 --> 00:23:19,240 Speaker 14: a sustainable world. And over the last six years we've 457 00:23:19,280 --> 00:23:21,479 Speaker 14: had just a great run. I mean, our compound annual 458 00:23:21,520 --> 00:23:24,320 Speaker 14: growth rate on the top line is eleven percent, a 459 00:23:24,320 --> 00:23:26,880 Speaker 14: little but over eleven percent, and on the bottom line 460 00:23:26,880 --> 00:23:30,080 Speaker 14: it's over twenty percent. So I'm super proud of what 461 00:23:30,119 --> 00:23:33,040 Speaker 14: our team has been able to accomplish. And as I 462 00:23:33,080 --> 00:23:35,119 Speaker 14: always tell people, we've had a great run over the 463 00:23:35,200 --> 00:23:38,560 Speaker 14: last five plus years. But the future looks even brighter 464 00:23:38,600 --> 00:23:39,840 Speaker 14: than what I saw five years ago. 465 00:23:40,080 --> 00:23:42,359 Speaker 2: And the company itself, I mean, I'm familiar with you 466 00:23:42,359 --> 00:23:44,760 Speaker 2: guys from your home product, which is a smaller portion 467 00:23:44,800 --> 00:23:47,159 Speaker 2: of your portfolio, but the company itself has existed in 468 00:23:47,200 --> 00:23:50,800 Speaker 2: some form since nineteen thirteen, and you've been around well 469 00:23:50,800 --> 00:23:52,840 Speaker 2: almost that long. I'm just kidding, but you can start 470 00:23:53,119 --> 00:23:55,680 Speaker 2: out at the company, not an existence. 471 00:23:55,680 --> 00:23:56,439 Speaker 6: It's got a compliment. 472 00:23:56,520 --> 00:23:58,320 Speaker 14: When I came down, someone said you look younger than me. 473 00:23:59,000 --> 00:24:02,080 Speaker 2: I'm sorry, I meant duration you've been at the company, 474 00:24:02,600 --> 00:24:03,320 Speaker 2: but you started. 475 00:24:03,080 --> 00:24:03,679 Speaker 8: As an intern. 476 00:24:04,000 --> 00:24:07,280 Speaker 14: I started as an intern back in nineteen eighty five. 477 00:24:07,640 --> 00:24:10,320 Speaker 14: Just to just to date me a bit here, but yeah, 478 00:24:10,320 --> 00:24:12,480 Speaker 14: I mean, when I came out of college, I was 479 00:24:12,520 --> 00:24:15,240 Speaker 14: going to go into investment banking and I decided, no, no, 480 00:24:15,359 --> 00:24:18,480 Speaker 14: I'll take this opportunity and go learn a business. And 481 00:24:18,520 --> 00:24:20,440 Speaker 14: I figured I'd be there for just a short period 482 00:24:20,520 --> 00:24:23,600 Speaker 14: of time, but I just had so many different roles 483 00:24:23,600 --> 00:24:26,359 Speaker 14: in the company. I kept advancing to different areas of 484 00:24:26,359 --> 00:24:29,919 Speaker 14: the company. And you know, people always ask me, well, 485 00:24:29,920 --> 00:24:31,920 Speaker 14: how'd you get to where we are? Is it luck 486 00:24:32,000 --> 00:24:34,840 Speaker 14: or hard work? I tell them what, the luckier I get, 487 00:24:34,840 --> 00:24:37,240 Speaker 14: the harder I work, right, But it's just you know, 488 00:24:37,280 --> 00:24:39,439 Speaker 14: I've had the opportunity to run all the businesses that 489 00:24:39,480 --> 00:24:42,200 Speaker 14: we have in the company today, so I know them 490 00:24:42,280 --> 00:24:46,360 Speaker 14: very very well. And it's just such a great company. 491 00:24:46,680 --> 00:24:46,879 Speaker 6: You know. 492 00:24:46,960 --> 00:24:48,920 Speaker 14: When I started as CEO, and I've been the CEO 493 00:24:49,040 --> 00:24:52,400 Speaker 14: now for coming up on my fifth year, I knew 494 00:24:52,400 --> 00:24:54,840 Speaker 14: we were a great operator, and I knew we were 495 00:24:54,880 --> 00:24:57,800 Speaker 14: a great innovator, but we weren't thought of as a 496 00:24:57,840 --> 00:25:01,560 Speaker 14: growth company. Why not because we weren't growing at the 497 00:25:01,640 --> 00:25:03,760 Speaker 14: rates that we should be growing at. And I knew 498 00:25:03,760 --> 00:25:07,159 Speaker 14: we had every opportunity to be this growth company. And 499 00:25:07,480 --> 00:25:09,600 Speaker 14: trust me, you don't become a growth company just because 500 00:25:09,640 --> 00:25:11,639 Speaker 14: the CEO says it, puts it out a PowerPoint and 501 00:25:11,640 --> 00:25:14,760 Speaker 14: say hey, let's become a growth company. Yeah, it doesn't 502 00:25:14,800 --> 00:25:16,280 Speaker 14: work quite that way. But one of the things that 503 00:25:16,280 --> 00:25:18,840 Speaker 14: we did was we had to change the mindset. So 504 00:25:19,160 --> 00:25:21,920 Speaker 14: we have as I'm sure, most companies do. We have 505 00:25:21,960 --> 00:25:24,600 Speaker 14: an annual operating plan and that kind of sets every 506 00:25:24,640 --> 00:25:28,639 Speaker 14: business's plan for the year. And I won't say it 507 00:25:28,680 --> 00:25:30,480 Speaker 14: was a negotiation, but it kind of felt like it 508 00:25:30,520 --> 00:25:32,480 Speaker 14: at times, like people wanted a lower number because nobody 509 00:25:32,480 --> 00:25:36,280 Speaker 14: wants to miss their forecast. And early on we changed 510 00:25:36,320 --> 00:25:38,800 Speaker 14: it and we basically said, so the business. The first 511 00:25:38,840 --> 00:25:41,320 Speaker 14: business comes in and presents their operating plan to us, 512 00:25:41,880 --> 00:25:44,199 Speaker 14: and that was like a two or three percent growth, right, 513 00:25:44,240 --> 00:25:47,920 Speaker 14: which is you know, incremental. So the assignment that they 514 00:25:47,920 --> 00:25:49,760 Speaker 14: took away, I said, come back in two weeks and 515 00:25:49,800 --> 00:25:52,760 Speaker 14: I want you to tell us, my CFO and myself 516 00:25:53,480 --> 00:25:56,160 Speaker 14: what you need to invest to grow at fifteen. 517 00:25:55,800 --> 00:25:57,120 Speaker 8: Percent for the fences. 518 00:25:57,280 --> 00:25:59,720 Speaker 14: Yeah, and so you know, here we are so role 519 00:25:59,720 --> 00:26:01,960 Speaker 14: fall where each business comes back two weeks later and 520 00:26:02,000 --> 00:26:05,240 Speaker 14: they come back with these investments and my CFO is 521 00:26:05,320 --> 00:26:06,840 Speaker 14: kicking me under the table, say, Dave, I don't know 522 00:26:06,840 --> 00:26:08,439 Speaker 14: if we can afford all these I said, no, it's not. 523 00:26:08,480 --> 00:26:10,399 Speaker 14: They'll never be able to spend that amount of money. 524 00:26:11,280 --> 00:26:14,960 Speaker 14: But by the way, I need a mindset shift change. 525 00:26:15,359 --> 00:26:17,320 Speaker 14: And that was kind of the catalyst for us to 526 00:26:17,320 --> 00:26:20,719 Speaker 14: start thinking about, hey, we can be a growth company. 527 00:26:20,720 --> 00:26:23,320 Speaker 6: We are going to invest. You mentioned your optimism for 528 00:26:23,400 --> 00:26:23,840 Speaker 6: the future. 529 00:26:23,880 --> 00:26:25,880 Speaker 3: We're at a moment where so many businesses are being 530 00:26:25,920 --> 00:26:28,560 Speaker 3: disrupted by AI or have the potentially be disrupted by AI. 531 00:26:29,320 --> 00:26:30,600 Speaker 6: Talk about your. 532 00:26:30,600 --> 00:26:33,320 Speaker 3: Involvement in this boom and data centers that I mentioned 533 00:26:33,359 --> 00:26:35,760 Speaker 3: just a moment ago. It's sufice to say you might 534 00:26:35,800 --> 00:26:38,040 Speaker 3: not have predicted that a few years back, but this 535 00:26:38,080 --> 00:26:40,520 Speaker 3: has become a huge growth opportunity for your huge driver 536 00:26:40,560 --> 00:26:41,679 Speaker 3: of the growth that you're talking about. 537 00:26:41,680 --> 00:26:44,320 Speaker 14: Sure, I mean, look, data centers. We've always been strong 538 00:26:44,359 --> 00:26:47,400 Speaker 14: in the data center vertical, okay, but we're also very 539 00:26:47,440 --> 00:26:50,600 Speaker 14: strong in other core verticals and we track fourteen different 540 00:26:50,680 --> 00:26:53,679 Speaker 14: verticals and data centers is one. But data centers has 541 00:26:53,680 --> 00:26:56,560 Speaker 14: been very, very strong. And we're part of the thermal 542 00:26:56,600 --> 00:26:59,320 Speaker 14: management system within a data center. So data centers produce 543 00:26:59,359 --> 00:27:01,040 Speaker 14: a lot of heat. That heat has to be removed 544 00:27:01,960 --> 00:27:06,080 Speaker 14: the we're the company that helps the data center OEMs 545 00:27:06,119 --> 00:27:09,560 Speaker 14: remove that heat, and it's really through Childer Technologies. It's 546 00:27:09,600 --> 00:27:13,880 Speaker 14: through what they call CDUs or cooling distribution units fan walls. 547 00:27:13,880 --> 00:27:16,280 Speaker 14: There's lots of different components that make up that thermal 548 00:27:16,359 --> 00:27:19,159 Speaker 14: management system. But we're a leader in that space. But 549 00:27:19,240 --> 00:27:21,080 Speaker 14: We've been a leader in that space for decades. 550 00:27:21,320 --> 00:27:23,680 Speaker 2: This is kind of controversial because these these data centers 551 00:27:23,680 --> 00:27:26,439 Speaker 2: are going into areas and they're driving up energy costs. 552 00:27:26,520 --> 00:27:28,960 Speaker 2: And as much as people like to chat GPT things, 553 00:27:28,960 --> 00:27:31,240 Speaker 2: they also not like to not pay a ton for 554 00:27:31,400 --> 00:27:32,000 Speaker 2: energy bills. 555 00:27:32,080 --> 00:27:33,680 Speaker 8: Is there a balance to be struck there? 556 00:27:33,960 --> 00:27:34,200 Speaker 6: Yeah? 557 00:27:34,240 --> 00:27:37,040 Speaker 14: I believe there is because well, like I said, we're 558 00:27:37,160 --> 00:27:39,679 Speaker 14: very strong in other verticals, right, and we need the 559 00:27:39,760 --> 00:27:43,560 Speaker 14: intelligence from data centers to help us make buildings smarter. 560 00:27:44,320 --> 00:27:47,200 Speaker 14: And if you think most buildings, they use about forty 561 00:27:47,240 --> 00:27:49,240 Speaker 14: percent of the energy in a building. And by the way, 562 00:27:49,320 --> 00:27:52,560 Speaker 14: globally thirty percent of all energy is for buildings, but 563 00:27:52,680 --> 00:27:54,600 Speaker 14: forty percent of that is for heating and cooling. 564 00:27:54,720 --> 00:27:54,920 Speaker 8: Wow. 565 00:27:55,080 --> 00:27:56,760 Speaker 6: And we know most buildings. 566 00:27:56,359 --> 00:28:00,960 Speaker 14: Operate very inefficiently, like thirty percent inefficiently a very conservative number. 567 00:28:01,440 --> 00:28:06,439 Speaker 14: We've developed algorithms to make buildings smarter and this is 568 00:28:06,440 --> 00:28:08,240 Speaker 14: why I'm so excited about the future. 569 00:28:08,320 --> 00:28:10,800 Speaker 3: They talk a bit about who you're hiring to work 570 00:28:10,800 --> 00:28:13,720 Speaker 3: for your company, So I mentioned forty five thousand employees. 571 00:28:14,680 --> 00:28:16,520 Speaker 3: Are you able to find the kind of workers that 572 00:28:16,560 --> 00:28:18,479 Speaker 3: you need in this environment? I know that there are 573 00:28:18,480 --> 00:28:20,440 Speaker 3: reports that this is a difficult labor market for a 574 00:28:20,480 --> 00:28:22,760 Speaker 3: lot of people. Who are you looking for and what 575 00:28:22,840 --> 00:28:25,800 Speaker 3: is the training process like for those new Employeesah, great question. 576 00:28:25,840 --> 00:28:28,359 Speaker 14: Look five years ago we had when we started as 577 00:28:28,400 --> 00:28:31,320 Speaker 14: Training Technologies, or six years ago now we had thirty 578 00:28:31,320 --> 00:28:35,520 Speaker 14: five thousand employees. Today we have over forty five thousand employees. 579 00:28:35,560 --> 00:28:39,520 Speaker 14: So growth companies create job opportunities. I'll start with that. Now, 580 00:28:39,520 --> 00:28:41,200 Speaker 14: you need to be able to recruit the right talent 581 00:28:41,320 --> 00:28:45,959 Speaker 14: like service technicians. Right, we're always looking for great service technicians. 582 00:28:46,320 --> 00:28:49,240 Speaker 14: And we learned during the COVID period that it's really 583 00:28:49,280 --> 00:28:51,920 Speaker 14: hard to recruit these positions and find the right talent. 584 00:28:52,280 --> 00:28:56,600 Speaker 14: So we developed an apprenticeship program, and today the apprenticeship 585 00:28:56,600 --> 00:28:59,200 Speaker 14: program is now backed by the Department of Labor. I 586 00:28:59,240 --> 00:29:02,440 Speaker 14: believe we have about four hundred employees that are part 587 00:29:02,440 --> 00:29:05,880 Speaker 14: of this apprenticeship program. And by the way, depending on 588 00:29:05,920 --> 00:29:08,960 Speaker 14: your experience, this apprenticeship program could be two years to 589 00:29:09,040 --> 00:29:13,480 Speaker 14: four years. And here we're just changing lives of people. 590 00:29:13,720 --> 00:29:17,840 Speaker 14: We now use our hourly workforce as a place to 591 00:29:17,920 --> 00:29:20,840 Speaker 14: recruit for the apprenticeship program for technicians. 592 00:29:21,360 --> 00:29:23,200 Speaker 6: Whether it works or not, you're going to learn. 593 00:29:23,040 --> 00:29:26,520 Speaker 14: A lot by saying yes and understanding what someone else's 594 00:29:26,560 --> 00:29:30,520 Speaker 14: problems are right, and you know that's our whole mindset. 595 00:29:30,600 --> 00:29:33,880 Speaker 14: And we love being close to customers, we love working 596 00:29:33,920 --> 00:29:36,680 Speaker 14: towards yes, and we love our innovation. 597 00:29:37,640 --> 00:29:39,040 Speaker 6: Dave, thank you very much, appreciate it. 598 00:29:39,600 --> 00:29:41,440 Speaker 2: Thank you for being here, for being our very first 599 00:29:41,480 --> 00:29:43,640 Speaker 2: CEO Saturday c sueet Saturday. 600 00:29:43,280 --> 00:29:45,720 Speaker 14: Guests, and I feel privilege to be here, So thank 601 00:29:45,720 --> 00:29:47,640 Speaker 14: you very much, and thanks for your time today and 602 00:29:47,920 --> 00:29:48,840 Speaker 14: good luck with your show. 603 00:29:50,080 --> 00:29:50,640 Speaker 6: Thank you for that. 604 00:29:50,680 --> 00:29:52,480 Speaker 3: When we come back, the point of News Quiz, take 605 00:29:52,560 --> 00:29:54,040 Speaker 3: us with you no matter where you go. You can 606 00:29:54,040 --> 00:29:56,920 Speaker 3: watch us on Bloomberg TV, listen on Bloomberg Radio, stream 607 00:29:57,000 --> 00:29:58,520 Speaker 3: us live on the Bloomberg Business app. 608 00:29:58,560 --> 00:30:00,760 Speaker 6: Wherever you are, We're there. This is Bloomberg. 609 00:30:02,080 --> 00:30:05,160 Speaker 15: Stay with us for more on Bloomberg this weekend. 610 00:30:05,560 --> 00:30:21,840 Speaker 13: Right after this, welcome back now for this weekend's pointed 611 00:30:22,000 --> 00:30:24,040 Speaker 13: News Quiz, the News Quiz for rist taker. 612 00:30:24,080 --> 00:30:26,080 Speaker 3: I'm very excited about this as I was last week 613 00:30:26,120 --> 00:30:28,040 Speaker 3: until I lost the first and. 614 00:30:28,440 --> 00:30:30,160 Speaker 2: That's true if you. 615 00:30:30,120 --> 00:30:31,240 Speaker 8: Did lose to me last week. 616 00:30:31,240 --> 00:30:33,800 Speaker 2: However, I have not studied as much as I did 617 00:30:33,840 --> 00:30:35,240 Speaker 2: last week, so this may be your week. 618 00:30:35,280 --> 00:30:39,080 Speaker 3: There are three categories as usual, Lisa, Matteo quiz Master extraordinary. 619 00:30:39,160 --> 00:30:40,240 Speaker 6: Yes, what are. 620 00:30:44,440 --> 00:30:44,560 Speaker 11: Yes? 621 00:30:44,840 --> 00:30:47,120 Speaker 4: I know? I see it in your face, David. Okay, 622 00:30:47,160 --> 00:30:49,760 Speaker 4: So you basically have thirty chips in front of you, 623 00:30:49,800 --> 00:30:52,240 Speaker 4: each of you. So Christina has thirty, David has thirty. 624 00:30:52,280 --> 00:30:52,680 Speaker 15: Okay. 625 00:30:53,120 --> 00:30:55,920 Speaker 4: Now, based on those three categories, you're going to place 626 00:30:55,960 --> 00:30:58,960 Speaker 4: your chips where you think you know the best. If 627 00:30:59,000 --> 00:31:01,640 Speaker 4: you get the answer wrong, you hand over those chips, 628 00:31:01,640 --> 00:31:03,959 Speaker 4: you bet to me yes, okay, and you lose them 629 00:31:03,960 --> 00:31:05,840 Speaker 4: and you lose some points. Okay, So let's get to 630 00:31:05,880 --> 00:31:08,600 Speaker 4: our categories. This is what David was Okay. The first 631 00:31:08,600 --> 00:31:10,400 Speaker 4: category is oil. 632 00:31:10,600 --> 00:31:12,400 Speaker 6: Oil, We've been talking about it at. 633 00:31:12,320 --> 00:31:14,680 Speaker 8: Some length, is going to get extra embarrassing. 634 00:31:15,280 --> 00:31:17,560 Speaker 6: This should be in good position for this one. 635 00:31:18,040 --> 00:31:24,680 Speaker 4: Second category Asia politics, okay. And third category is Hollywood. 636 00:31:25,000 --> 00:31:26,440 Speaker 4: You know, oscars around the corner. 637 00:31:26,480 --> 00:31:26,640 Speaker 13: Guy. 638 00:31:26,720 --> 00:31:30,880 Speaker 3: You are already demonstrated how little I know about this. 639 00:31:32,280 --> 00:31:35,720 Speaker 4: You have other strength, all right, okay, So Christina, you're 640 00:31:35,720 --> 00:31:38,160 Speaker 4: going ten across I know. 641 00:31:38,480 --> 00:31:42,000 Speaker 6: Okay, the first one. David's going into twenty on that. Okay, 642 00:31:42,760 --> 00:31:44,280 Speaker 6: oil again, we've talked about it a lot. 643 00:31:44,360 --> 00:31:47,680 Speaker 2: Yeah, I feel okay, I know, I know, but I'm nervous. 644 00:31:47,760 --> 00:31:49,080 Speaker 6: But I'm not an expert on apropol. 645 00:31:49,200 --> 00:31:50,120 Speaker 15: Are you ready for this question? 646 00:31:50,240 --> 00:31:51,800 Speaker 6: You maybe disappointed? Okay, I'm ready. 647 00:31:51,800 --> 00:31:53,320 Speaker 4: Okay, here you go play with us along at home 648 00:31:53,400 --> 00:31:56,520 Speaker 4: too as well. Okay, So question is oil and gas 649 00:31:56,520 --> 00:32:00,760 Speaker 4: Giant Shell agree to sell which brand to the private 650 00:32:00,800 --> 00:32:06,880 Speaker 4: equity firm Mono Mae for one point three billion dollars? 651 00:32:07,480 --> 00:32:08,520 Speaker 15: How are you feeling about those. 652 00:32:08,440 --> 00:32:11,640 Speaker 3: Twenty my gosh, I was not expecting a. 653 00:32:12,160 --> 00:32:14,720 Speaker 6: I really have no idea which brand? Which Brandy? 654 00:32:14,800 --> 00:32:15,040 Speaker 15: Think of? 655 00:32:15,080 --> 00:32:17,520 Speaker 8: That's the thing of subsidiary. 656 00:32:17,680 --> 00:32:19,320 Speaker 15: Correct which which brand? 657 00:32:19,440 --> 00:32:19,720 Speaker 6: Okay? 658 00:32:20,240 --> 00:32:25,320 Speaker 15: They agreed to sell it? Yeah, all right, private Monomoy Montamoy. 659 00:32:25,520 --> 00:32:29,120 Speaker 15: Okay is that a hint? No, but it's a brand 660 00:32:29,280 --> 00:32:31,920 Speaker 15: that you're may be familiar with. If you get an 661 00:32:31,960 --> 00:32:33,080 Speaker 15: oil change. 662 00:32:32,920 --> 00:32:35,320 Speaker 6: Oh okay, all right, you know you feel better? 663 00:32:36,400 --> 00:32:37,840 Speaker 15: Okay, okay, okay, ready. 664 00:32:37,680 --> 00:32:39,680 Speaker 6: Let slip a regular oil when you changed. 665 00:32:39,720 --> 00:32:44,240 Speaker 4: You just flip it valel valveeln. Oh and what do 666 00:32:44,320 --> 00:32:47,520 Speaker 4: you have, Jeffery love Christine. 667 00:32:47,880 --> 00:32:49,600 Speaker 2: It's like the only thing I know about oil changes. 668 00:32:49,720 --> 00:32:51,160 Speaker 15: This is the best game ever. 669 00:32:51,480 --> 00:32:54,320 Speaker 6: The only thing you know about oil changes is Jiffy. 670 00:32:54,920 --> 00:32:56,120 Speaker 8: And then I never get them done. 671 00:32:56,120 --> 00:32:58,520 Speaker 4: And then my brother, yea, you can I take your 672 00:32:58,680 --> 00:32:59,600 Speaker 4: twenty day. 673 00:33:01,040 --> 00:33:03,360 Speaker 6: Okay, we're going to have to rework this game. 674 00:33:03,600 --> 00:33:06,080 Speaker 4: I'm just going to sit out here and do this. Yes, 675 00:33:06,240 --> 00:33:09,400 Speaker 4: count them up, Okay, gloat. Here we go, Asia politicians, 676 00:33:09,880 --> 00:33:11,520 Speaker 4: you may you may recoup your winnings here. 677 00:33:11,560 --> 00:33:12,920 Speaker 6: Okay, ready, let's see I bet nothing. 678 00:33:13,080 --> 00:33:15,000 Speaker 15: Here we go. Belendra Shah. 679 00:33:15,320 --> 00:33:19,040 Speaker 4: A rapper turned politician is on a course to become 680 00:33:19,080 --> 00:33:21,640 Speaker 4: the prime minister of which country? 681 00:33:24,000 --> 00:33:24,240 Speaker 1: Sha? 682 00:33:25,320 --> 00:33:28,600 Speaker 4: Yes, a rapper turned politician? All right, the prime minister 683 00:33:28,680 --> 00:33:30,959 Speaker 4: of which country? On course to become the prime minister 684 00:33:31,520 --> 00:33:32,440 Speaker 4: country in Asia? 685 00:33:32,840 --> 00:33:33,360 Speaker 6: Yeah? 686 00:33:33,360 --> 00:33:36,240 Speaker 4: Thank you, of course, Asia politics. 687 00:33:36,880 --> 00:33:37,800 Speaker 15: That was not a good hint. 688 00:33:38,040 --> 00:33:45,320 Speaker 4: Okay, here we are Thailand, David Nepal. Christie Paul is correct, 689 00:33:46,840 --> 00:33:48,840 Speaker 4: she's kind of again. Oh you didn't bet anything on 690 00:33:48,840 --> 00:33:49,240 Speaker 4: that one. 691 00:33:49,440 --> 00:33:49,800 Speaker 6: I didn't. 692 00:33:49,800 --> 00:33:52,440 Speaker 2: But I only know that because those gen Z uprisings, 693 00:33:52,440 --> 00:33:54,960 Speaker 2: and it seems very appropriate that they would then elect 694 00:33:54,960 --> 00:33:55,720 Speaker 2: a rapper. 695 00:33:55,640 --> 00:33:58,920 Speaker 6: Yes, in touch with Z around the world, you know, me. 696 00:33:58,920 --> 00:34:00,640 Speaker 8: And the youths so cool. 697 00:34:01,360 --> 00:34:02,000 Speaker 15: Okay, here we go. 698 00:34:02,040 --> 00:34:03,000 Speaker 8: There are the losses. 699 00:34:03,320 --> 00:34:05,760 Speaker 6: They're very very cool. I would like to see you 700 00:34:05,880 --> 00:34:08,280 Speaker 6: rocking those mayhap. 701 00:34:09,040 --> 00:34:10,839 Speaker 15: All right, David, I feel you're going to do better 702 00:34:10,840 --> 00:34:11,520 Speaker 15: in Hollywood. 703 00:34:11,520 --> 00:34:13,279 Speaker 6: I feel like everyone is so disappointed. 704 00:34:13,320 --> 00:34:16,200 Speaker 4: But you bet ten? Okay, t you bet ten? Okay, 705 00:34:16,239 --> 00:34:20,680 Speaker 4: let's see. The question is Netflix will pay up to 706 00:34:20,840 --> 00:34:24,680 Speaker 4: six hundred million dollars for Interpositive. It's an AI movie 707 00:34:24,680 --> 00:34:26,960 Speaker 4: making company founded by which. 708 00:34:28,200 --> 00:34:32,040 Speaker 6: I hope that you do too, not really which actor? 709 00:34:32,160 --> 00:34:33,680 Speaker 15: Six hundred million dollars? 710 00:34:33,760 --> 00:34:37,760 Speaker 6: Can I spell it? Money? I can? I think so? 711 00:34:37,800 --> 00:34:40,360 Speaker 15: She's writing furiously Christina can okay? 712 00:34:40,520 --> 00:34:42,920 Speaker 6: All right, ready, I'm ready it right, David? Would you 713 00:34:43,000 --> 00:34:43,840 Speaker 6: write Ben Affleck? 714 00:34:44,280 --> 00:34:48,760 Speaker 13: Ah, Christina, Timothy Chambo Lama, It's. 715 00:34:48,560 --> 00:34:51,399 Speaker 3: So hard to say. 716 00:34:51,440 --> 00:34:57,640 Speaker 6: It is Ben Affleck so much? Yes, myself story this week? 717 00:34:57,840 --> 00:34:59,960 Speaker 15: You got that wrong hand over your ten? 718 00:35:00,840 --> 00:35:01,080 Speaker 6: Wait? 719 00:35:01,200 --> 00:35:03,160 Speaker 2: Ben Affleck is doing movie making AI. 720 00:35:03,800 --> 00:35:07,040 Speaker 4: He has a company AI. Netflix bought it for six 721 00:35:07,120 --> 00:35:13,480 Speaker 4: hundred million dollars. Okay, nothing but okay, okay, are we ready. 722 00:35:13,320 --> 00:35:13,800 Speaker 15: For a bonus? 723 00:35:13,800 --> 00:35:17,160 Speaker 6: And bonus? Everything is great again for me? 724 00:35:17,320 --> 00:35:17,760 Speaker 13: Yeah? 725 00:35:17,920 --> 00:35:20,080 Speaker 15: I might give you ten back. I don't know. 726 00:35:20,120 --> 00:35:22,680 Speaker 4: I'll think about right to make it time time okay, Okay, 727 00:35:22,680 --> 00:35:24,200 Speaker 4: I'll give you ten back if you get this one. 728 00:35:24,360 --> 00:35:27,319 Speaker 4: Because it's food and beverage is the last category. Okay, both, 729 00:35:28,840 --> 00:35:31,560 Speaker 4: we're glad to know. Uh swig, have you heard of 730 00:35:31,560 --> 00:35:34,359 Speaker 4: this one? It has nearly We're off to a good 731 00:35:34,360 --> 00:35:38,319 Speaker 4: start has nearly one hundred and fifty stores specializes in 732 00:35:38,360 --> 00:35:43,880 Speaker 4: which type of soda using flavored syrups, juices, and cream. 733 00:35:44,120 --> 00:35:46,080 Speaker 6: Okay, all right, your kids. 734 00:35:45,800 --> 00:35:47,799 Speaker 15: Have to know this. My daughter loves this thing. 735 00:35:49,480 --> 00:35:53,239 Speaker 6: Well, I don't know remember surge that I love? 736 00:35:53,400 --> 00:35:56,440 Speaker 8: See, it was so great. 737 00:35:56,560 --> 00:35:58,800 Speaker 6: I don't know what happened to that. Okay, this is swig. 738 00:35:59,760 --> 00:36:02,600 Speaker 15: It's on time, right, Okay, ready you guys. 739 00:36:02,400 --> 00:36:07,359 Speaker 3: Yes, probiotics, soda, salty, no salty sodas. 740 00:36:06,800 --> 00:36:09,600 Speaker 15: Dirty soda? Do you know the dirty somar? 741 00:36:09,800 --> 00:36:13,080 Speaker 4: Tell me about Mountain West, Texas. The Hulu reality show 742 00:36:13,200 --> 00:36:14,240 Speaker 4: The Secret. 743 00:36:13,840 --> 00:36:16,360 Speaker 15: Lives of Mormon Wives have made it popular. 744 00:36:17,360 --> 00:36:17,759 Speaker 8: I do. 745 00:36:20,840 --> 00:36:21,080 Speaker 12: Okay. 746 00:36:21,120 --> 00:36:25,520 Speaker 4: The winner is Christina, Yes, twenty again for the second 747 00:36:25,520 --> 00:36:26,120 Speaker 4: week in a row. 748 00:36:26,280 --> 00:36:27,080 Speaker 8: That's two to nothing. 749 00:36:27,120 --> 00:36:28,760 Speaker 2: But I will say you did beat me in almost 750 00:36:28,800 --> 00:36:31,640 Speaker 2: every rehearsal, so it's just you'll come. 751 00:36:31,520 --> 00:36:35,719 Speaker 3: Back all he's feeling good, listen to thank you. That's 752 00:36:35,719 --> 00:36:37,160 Speaker 3: all I can do on the show is try. You 753 00:36:37,160 --> 00:36:39,160 Speaker 3: can test your knowledge on all ten questions on the 754 00:36:39,160 --> 00:36:41,320 Speaker 3: pointed quiz. If I have no shame, I will go 755 00:36:41,360 --> 00:36:42,640 Speaker 3: do that. After the show. You can take it at 756 00:36:42,640 --> 00:36:44,759 Speaker 3: Bloomberg dot com slash pointed. You can find it on 757 00:36:44,800 --> 00:36:49,000 Speaker 3: the Business app as well. 758 00:36:49,000 --> 00:36:51,960 Speaker 2: Thanks for joining us on today's Bloomberg This Weekend podcast. 759 00:36:52,080 --> 00:36:54,319 Speaker 2: Don't forget to tune in live for the show every 760 00:36:54,360 --> 00:36:57,040 Speaker 2: Saturday and Sunday morning, starting at seven am Eastern. 761 00:36:57,080 --> 00:37:00,000 Speaker 3: We're on Bloomberg Television Radio and the Bloomberg Business App, 762 00:37:00,200 --> 00:37:03,719 Speaker 3: bringing you unique takes and in depth interviews on news, politics, 763 00:37:03,800 --> 00:37:05,000 Speaker 3: lifestyle and culture.