WEBVTT - U.S. Remains a Dangerous Place for Unvaccinated 0:00:01.800 --> 0:00:04.440 This is Bloomberg Business Week. I'm Carol Masser and I'm 0:00:04.480 --> 0:00:07.280 Bloomberg Quick Takes Tim Stanovk. We're here every day bringing 0:00:07.320 --> 0:00:09.840 you the latest news from the world to business and finance, 0:00:09.840 --> 0:00:13.680 plus technology, politics, economics, all partnising the power of Business 0:00:13.680 --> 0:00:17.160 Week reporters and editors, not to mention our journalists and 0:00:17.160 --> 0:00:20.000 analyst in more than one twenty countries. You can download 0:00:20.000 --> 0:00:23.239 Bloomberg Business Week and iTunes, SoundCloud, or Bloomberg dot Com. 0:00:23.400 --> 0:00:25.200 You can also listen to our radio show at two 0:00:25.200 --> 0:00:27.760 pm Eastern Time on the Bloomberg Radio or watch us 0:00:27.760 --> 0:00:31.880 on YouTube search Bloomberg Global News. So much to get to. 0:00:32.000 --> 0:00:34.879 We talked about President Biden signaling progress to lifting a 0:00:34.880 --> 0:00:38.920 ban on travel from Europe, so we're hoping that, you know, borders. 0:00:39.080 --> 0:00:40.680 I know you're looking at me like, how do we 0:00:40.720 --> 0:00:42.760 do that well. At the same time, COVID's daily US 0:00:42.800 --> 0:00:47.320 Death Toll Carol tops Guns, cars and blue combined daily 0:00:47.640 --> 0:00:52.760 that headline daily right, I understand for daily right, this 0:00:52.840 --> 0:00:54.920 is what's happening now we're seeing the increasing cases we 0:00:54.960 --> 0:00:56.960 talked about l A, let's just get right to it 0:00:56.960 --> 0:00:59.160 with Dr Ian lous Bader. He joins us every Friday 0:00:59.240 --> 0:01:00.960 gives us a COVID ground up what we need to 0:01:01.000 --> 0:01:04.120 focus on his clinical professor of medicine and yu landgown. 0:01:04.160 --> 0:01:07.080 He is on the phone in New York City. Ian, 0:01:07.160 --> 0:01:10.320 good to have you here with us. How are you good? Good? 0:01:10.319 --> 0:01:14.360 Always the pleasure, guys, hopefully providing some useful information we need. 0:01:14.520 --> 0:01:16.839 We need useful information because we're feeling a little stressed 0:01:16.840 --> 0:01:20.960 out again. Um, help us make some sense of these headlines. 0:01:22.080 --> 0:01:25.839 So just to review, Delta is one of a number 0:01:25.880 --> 0:01:31.440 of variants of our old acquaintance COVID nineteen. And really 0:01:31.959 --> 0:01:36.880 delta variant is a mutation or several mutations in the 0:01:37.000 --> 0:01:42.680 spike protein. So when that happens, Uh, that spike protein 0:01:42.760 --> 0:01:46.080 is really where the COVID virus attaches to ourselves the 0:01:46.280 --> 0:01:51.560 H two receptors. And unfortunately, as that mutates, it can 0:01:51.600 --> 0:01:56.280 attach more aggressively and it can escape even uh sometimes 0:01:56.320 --> 0:01:59.680 people who are vaccinated. Certainly we're seeing a big rise 0:02:00.040 --> 0:02:04.000 in people who are unvaccinated, really primarily young people, and 0:02:04.080 --> 0:02:06.720 in a variety of states throughout the South and part 0:02:06.720 --> 0:02:10.160 of the Moodwest. Uh, it does not appear to be 0:02:10.520 --> 0:02:13.280 more deadly. In other words, it's not it's not killing 0:02:13.720 --> 0:02:17.400 more people other than numerically meaning the more people that 0:02:17.440 --> 0:02:20.920 get COVID, whether of any strain, whether it's the initial 0:02:20.960 --> 0:02:24.160 alpha strain from the UK or any of the other strains. Obviously, 0:02:24.240 --> 0:02:27.880 the more people that get infected statistically, if it's less 0:02:27.880 --> 0:02:31.600 than one percent that get hospitalized, the bigger the number, 0:02:31.680 --> 0:02:34.240 the bigger the denominator, you know, than the bigger the 0:02:34.320 --> 0:02:36.560 number of people who do get admitted in the people 0:02:36.600 --> 0:02:39.239 who die from it. Well, that's what we're already seeing. 0:02:39.639 --> 0:02:43.880 We just learned from the CDC that we're seeing seven 0:02:43.960 --> 0:02:46.880 day average for hospital admissions nationwide rising thirty six percent 0:02:46.960 --> 0:02:51.560 to nine daily deaths. Dr lust Vader jumping two hundred 0:02:51.720 --> 0:02:54.000 and eleven per day. How should we think about this 0:02:54.040 --> 0:02:58.160 if we've been vaccinated, Because here we are, having received 0:02:58.200 --> 0:03:01.799 vaccines so many people, tens of millions of Americans, and 0:03:01.919 --> 0:03:04.400 they're living in places where they're they're going back to work, 0:03:04.520 --> 0:03:07.640 not wearing masks, writing public transit, maybe wearing masks on 0:03:07.720 --> 0:03:10.440 public transit, but they're back to life as usual, and 0:03:10.480 --> 0:03:13.720 it seems like this is a big setback. You know, 0:03:13.760 --> 0:03:16.799 there's no question that that this is a setback. It's 0:03:16.840 --> 0:03:19.520 hard to say how big at this point. Certainly the 0:03:19.600 --> 0:03:23.000 vaccines at this point, you know, certainly the the mRNA, 0:03:23.120 --> 0:03:26.880 the Maduna Advisor vaccines do provide a lot of protection, 0:03:26.960 --> 0:03:32.280 certainly for severe disease. Meaning most everyone who is vaccinated, 0:03:32.400 --> 0:03:35.720 even if they get a breakthrough infection, are not being 0:03:35.800 --> 0:03:38.800 hospitalized and not dying. It's a very very small prevent 0:03:39.200 --> 0:03:42.480 So the vaccines still now are very effective. We do 0:03:42.600 --> 0:03:46.840 think the antibody levels are high. The problem is that 0:03:46.920 --> 0:03:50.640 the delta variant, that that the mutations in the spike 0:03:50.720 --> 0:03:54.840 protein make it less sensitive to the antibodies that we 0:03:54.960 --> 0:03:57.920 form and also make it a little less sensitive to 0:03:58.040 --> 0:04:00.840 some of the other like monoclonal antibo the therapies that 0:04:01.320 --> 0:04:06.440 that we are giving. So the concentration of the virus 0:04:06.480 --> 0:04:09.320 in the blood and the secretions caught and nasal secretions 0:04:09.680 --> 0:04:12.240 gets very high, very early on. That's one of the 0:04:12.320 --> 0:04:16.240 one of the mutations the delta has, so it's more contagious. Uh. 0:04:16.360 --> 0:04:19.760 People don't feel sick, but by the time they feel sick, 0:04:19.760 --> 0:04:22.920 they already have a very high concentration. UH. And so 0:04:22.960 --> 0:04:25.080 it's definitely a challenge. But for the people who have 0:04:25.120 --> 0:04:30.080 been vaccinated, very very low risk of hospitalization. They may 0:04:30.120 --> 0:04:34.080 get breakthroughs. It's under ten percent of people will get breakthroughs. 0:04:34.160 --> 0:04:36.960 So far, the antibodies do seem to keep it in check. 0:04:37.400 --> 0:04:40.680 You know, could it mutate further and be more difficult 0:04:40.680 --> 0:04:44.520 another variant. It is possible, But at this point, the 0:04:44.600 --> 0:04:47.080 people who do need to worry are the people who 0:04:47.080 --> 0:04:50.560 are not vaccinated. And since we don't have great treatment, 0:04:50.720 --> 0:04:54.000 even the monoclonal antibodies that we're using, like them lavid 0:04:54.720 --> 0:04:59.280 um or other alternative therapiest people talk about iver met 0:04:59.279 --> 0:05:02.760 and some of the other the vaccinations make the most 0:05:02.760 --> 0:05:05.520 sense for the people who are vaccine hesitant because that 0:05:05.680 --> 0:05:10.120 at this point really provides the best protection against the 0:05:10.120 --> 0:05:13.680 delta variant and ultimately against hospitalization. Because you said, the 0:05:13.760 --> 0:05:17.039 delta variant not more deadly than other strains. Are you 0:05:17.040 --> 0:05:19.039 you're saying for those who are vaccinated, But if you're 0:05:19.080 --> 0:05:22.720 not vaccinated, is it more is it deadlier? It is 0:05:22.760 --> 0:05:25.839 not more deadly. In other words, it doesn't seem to 0:05:25.880 --> 0:05:30.080 close more of this cytokine storm. But if you're infecting 0:05:30.120 --> 0:05:33.200 a lot more people, even if it's that smaller percent, 0:05:33.400 --> 0:05:36.760 you know, less than one percent get hospitalized. If you're 0:05:36.800 --> 0:05:40.240 infecting more people, that one percent gets to be a 0:05:40.279 --> 0:05:42.880 growing number of hospitalizations. You know, one of the stories 0:05:42.920 --> 0:05:45.040 we've been talking about here in New York City, the Yankees, 0:05:45.080 --> 0:05:49.560 you know, and you know we're seeing just even sometimes 0:05:49.560 --> 0:05:51.800 it's cases of people who have gotten the vaccine, and 0:05:51.839 --> 0:05:53.559 you know, we're all of a sudden feeling like there's 0:05:53.600 --> 0:05:57.440 this potential for once again some super spreader events. Are 0:05:57.440 --> 0:06:00.960 you anticipating that we will see that again? You know, 0:06:01.120 --> 0:06:05.120 I don't think so, there there is. I don't think 0:06:05.120 --> 0:06:09.159 people who are vaccinated at this point need to wear masks. Uh, 0:06:09.279 --> 0:06:12.920 certainly not outdoors. If people are insecure, or you're older, 0:06:13.200 --> 0:06:18.040 or you have underlying infections or or immune compromise, sure 0:06:18.160 --> 0:06:21.360 wear the mask. The Yankees and other people who do 0:06:21.560 --> 0:06:27.440 seem despite vaccines, who they recover virus, they're very low symptoms. 0:06:27.920 --> 0:06:31.240 They may have a mild claw for cold, they may 0:06:31.279 --> 0:06:35.120 have a breakthrough. Uh, could they potentially spread It could be, 0:06:35.360 --> 0:06:38.360 But we're not seeing this on a widespread basis at 0:06:38.360 --> 0:06:40.760 this point, and hopefully that won't occur. Do you think, 0:06:40.920 --> 0:06:43.040 just in the last fifteen seconds here, Dr les Bader, 0:06:43.040 --> 0:06:44.440 do you think we're gonna have to wear masks again 0:06:44.640 --> 0:06:47.559 here in New York city in the fall. I don't 0:06:47.600 --> 0:06:51.080 see that right now. I think it's possible deeper into 0:06:51.120 --> 0:06:53.240 the winter, but certainly not in the next few months, 0:06:53.279 --> 0:06:56.840 given our low level of infection in the Triestite area. Right, 0:06:57.000 --> 0:07:00.200 all right, stick around, We're gonna have Marve Dr lust 0:07:00.200 --> 0:07:02.600 bedaor clinical professor of Medicine n y U Land going 0:07:02.720 --> 0:07:05.120 right here on Blomber Business Week. Well, let's get right 0:07:05.160 --> 0:07:07.679 back to Dr Ian Lust betaor clinical professor of medicine 0:07:07.680 --> 0:07:09.840 at n y U Lane Goinges Medical Center. He joins 0:07:09.880 --> 0:07:12.120 us on the phone from New York City. So, Dr Lust, Bet, 0:07:12.160 --> 0:07:13.440 I'm gonna be very honest with you. Tim and I 0:07:13.480 --> 0:07:16.160 are talking like you know, he doesn't sound too worried. 0:07:16.760 --> 0:07:21.400 We we are feeling, you know, heightened anxiety. I'm stressed 0:07:21.440 --> 0:07:24.040 out there, you go, stressed out about some of these 0:07:24.040 --> 0:07:26.360 headlines and what what increases in the delta variant, Like 0:07:26.360 --> 0:07:28.440 we're talking about should we get off of master transportation 0:07:28.440 --> 0:07:31.360 now again? And you know, I'm getting together for family 0:07:31.360 --> 0:07:34.040 gathering and people are saying, can you kind of you know, 0:07:34.120 --> 0:07:37.480 not be in public places or inside restaurants? Are you 0:07:37.560 --> 0:07:41.920 really not that worried about what might be to come? 0:07:43.040 --> 0:07:46.080 I don't think it's good news that we're seeing a 0:07:46.320 --> 0:07:49.720 rise in cases, and we definitely are seeing a rise 0:07:49.760 --> 0:07:52.920 in cases, and we know that these are primarily DELTA, 0:07:53.440 --> 0:07:55.360 that DELTA is going to be, at least for the 0:07:55.400 --> 0:07:59.840 foreseeable future, the dominant strain. We know that unvaccinated people 0:08:00.440 --> 0:08:03.720 UM are are very susceptible, and I think we need 0:08:03.760 --> 0:08:07.520 to do better to address that subset. Approximately half the 0:08:07.560 --> 0:08:10.800 population of that has not been vaccinated UM and I 0:08:11.360 --> 0:08:13.440 it's a lot, and I you know, so the good 0:08:13.440 --> 0:08:19.240 news is somewhere like older people I've received both vaccines, 0:08:19.520 --> 0:08:21.520 but a number of young people, which is really where 0:08:21.560 --> 0:08:25.640 we're seeing the predominant UM increase in DELTA cases, have 0:08:25.720 --> 0:08:28.520 not been vaccinated. And so we do have to address 0:08:28.600 --> 0:08:33.360 some vaccine hesitancy, and just saying get vaccinated, I think 0:08:33.440 --> 0:08:37.840 may not always be that effective. Unfortunately some of them. 0:08:38.280 --> 0:08:40.640 You know, Internet news, you know, it's a very open 0:08:41.120 --> 0:08:45.800 information and often there's misinformation out there. It is true 0:08:46.559 --> 0:08:48.680 although MR and A vaccines have been used for many 0:08:48.760 --> 0:08:52.240 years for for this, it has been a relatively short 0:08:52.280 --> 0:08:55.200 time a year or two. There are some reported you know, 0:08:55.440 --> 0:09:00.280 side effects, myocardial inflammation and clots and so forth. With 0:09:00.280 --> 0:09:03.360 with J and J. But those are very, very small 0:09:03.679 --> 0:09:08.600 and and they're magnified into more more of a problem, 0:09:08.640 --> 0:09:10.760 I think than they are. I wish I could say 0:09:10.800 --> 0:09:14.000 that everything is risk free, but it's not even the 0:09:14.040 --> 0:09:17.080 influenza shots. You do see key on BRET, which is 0:09:17.080 --> 0:09:19.200 the sort of a sending paralysis. We see it with 0:09:19.240 --> 0:09:22.720 other vaccines. But overall, we think that the vaccines are 0:09:22.800 --> 0:09:24.560 very safe, and we need to do a better job 0:09:24.840 --> 0:09:28.000 with vaccine hesitancy. We also need to do better job 0:09:28.040 --> 0:09:30.880 with treatments and do study so that the people who 0:09:30.880 --> 0:09:33.719 are not getting it, we can at least perhaps treat them. 0:09:33.720 --> 0:09:35.720 And there may be some things out there that we 0:09:35.760 --> 0:09:38.440 haven't fully addressed. So I think we have not done 0:09:38.440 --> 0:09:43.920 a great job in addressing vaccine hesitancy, in therapeutics and UM. 0:09:43.960 --> 0:09:47.240 All we can do is encourage people in those areas. Hey, 0:09:47.320 --> 0:09:50.280 Dr Lesbader, I saw this headline cross earlier this week, 0:09:50.520 --> 0:09:54.079 and I said to Carol and and Paul and everybody 0:09:54.080 --> 0:09:55.600 on our call, I said, this is something I want 0:09:55.640 --> 0:09:57.960 to talk to with Dr Lesbiader about when he joins 0:09:58.040 --> 0:10:02.000 us on Friday. Overdose deaths staring to a record thousand 0:10:02.120 --> 0:10:05.240 last year. This in the midst of the COVID nineteen pandemic. 0:10:05.840 --> 0:10:07.800 That was according to new data that we got from 0:10:07.840 --> 0:10:10.960 the US government earlier this week. How much of that, 0:10:11.040 --> 0:10:12.840 in your opinion, has to do with the isolation that 0:10:12.880 --> 0:10:14.959 people felt last year? That to spare people felt last 0:10:15.040 --> 0:10:17.880 year and what can we do to improve that. I 0:10:17.920 --> 0:10:20.240 think it's a very high percent. I think it's an 0:10:20.240 --> 0:10:25.920 important topic. So somewhere over ninety people died of drug 0:10:25.960 --> 0:10:30.920 overdoses increase. There's no question that people respond to stress 0:10:30.960 --> 0:10:34.640 from COVID differently. Some people a small present, like working 0:10:34.679 --> 0:10:36.800 from home, they're happy not to go on the office. 0:10:37.200 --> 0:10:41.640 Unfortunately for most people, um, they're much more strained people. 0:10:42.080 --> 0:10:45.200 These overdose deaths are primarily in the thirty five to 0:10:45.280 --> 0:10:47.880 forty four year old age group. And I think what 0:10:48.000 --> 0:10:51.440 this shows us is that people need work, they need purpose, 0:10:51.840 --> 0:10:56.240 they need to socialize. But unfortunately, coupled with a stress 0:10:56.280 --> 0:10:58.760 and lack of work and lack of purpose is the 0:10:58.800 --> 0:11:03.440 availability of these anthetic opioids. These are come usually from overseas, 0:11:03.520 --> 0:11:07.400 often from China. They're more potent. We have our own 0:11:07.400 --> 0:11:11.480 opioid receptors, pain receptors in the body. Things like morphine 0:11:12.200 --> 0:11:16.320 will attach to those, but these synthetic opioids like sentine 0:11:16.320 --> 0:11:20.240 will bind much more aggressively. They do provide a little euphoria, 0:11:20.320 --> 0:11:25.520 pain relief, but also respiratory suppression. So people UH take 0:11:25.600 --> 0:11:27.720 it and they think they like it, but in fact 0:11:27.720 --> 0:11:30.800 they stop breathing. Uh. And there's a very narrow window 0:11:31.080 --> 0:11:33.400 of the amount of dose that it takes to get 0:11:33.480 --> 0:11:38.280 some either pain relief for a high sensation and cessation 0:11:38.320 --> 0:11:41.240 of breathing. And that's really why we're seeing this. We 0:11:41.320 --> 0:11:44.080 need to better seal the borders so we're not getting 0:11:44.440 --> 0:11:47.720 us synthetic opioids available, and we really need to address 0:11:47.840 --> 0:11:51.120 people in an outreach to give them purpose in life, 0:11:51.160 --> 0:11:53.480 to get them back to work and get them socializing. 0:11:53.480 --> 0:11:56.040 That is an argument for getting people back to the office. No, 0:11:56.200 --> 0:11:58.480 it's a really strong argument. And you know, you do 0:11:58.559 --> 0:12:01.600 worry that the situations and overlooked because of the pandemic 0:12:01.679 --> 0:12:04.400 and it's still a chronic situation here in the US. 0:12:04.720 --> 0:12:06.640 Uh Ian, Thank you so much. Dr In los Pader, 0:12:06.679 --> 0:12:09.480 clinical Professor of Medicine at n y U Landgo Medical Center. 0:12:09.679 --> 0:12:12.280 On the phone from New York City, you're listening to 0:12:12.400 --> 0:12:16.400 Bloomberg Business Week with Carol Messer and Bloomberg Quick Takes. 0:12:16.440 --> 0:12:21.160 Tim Stinovic on Bloomberg Radio. You are I've been kidding 0:12:21.160 --> 0:12:22.520 with you that you've been prepping, but you really have 0:12:22.600 --> 0:12:26.280 been prepping ahead of uh, Jeff Bezos going into space? Now, 0:12:26.400 --> 0:12:28.360 is he technically the edge of space to or No, 0:12:28.520 --> 0:12:31.440 he's technically going into space further out there, right, further 0:12:31.440 --> 0:12:33.240 out there? Yeah, further out there than we saw Richard 0:12:33.240 --> 0:12:36.560 Branson do last week. It's a hundred kilometers is what 0:12:37.200 --> 0:12:40.400 the international community considers going into space. It's called the 0:12:40.400 --> 0:12:44.320 Carmen law. Branson went under that, so he was still 0:12:44.400 --> 0:12:48.040 he still achieved weightlessness, but not because of gravity, but 0:12:48.080 --> 0:12:52.240 because of the vehicle that he was on falling through 0:12:52.280 --> 0:12:56.360 the sky. Okay, right, controlled any controlled manner as we saw, 0:12:56.720 --> 0:12:58.880 and the and the differences to that. We know Bezos 0:12:59.000 --> 0:13:02.640 is a rocket, right, yeah, it's this is this is 0:13:02.679 --> 0:13:05.120 an actual rocket. This is very different from what happened 0:13:05.120 --> 0:13:07.319 with Virgin Galactic. Well, this there's a story of the 0:13:07.440 --> 0:13:09.600 terminal that's a must read. It's actually our Bloomberg Big 0:13:09.600 --> 0:13:12.000 Take today. It's also in the NEWI show Bloomberg Business Week. 0:13:12.200 --> 0:13:13.920 Has to do with what we've been talking a lot 0:13:13.960 --> 0:13:17.240 about this past week. Billionaires, you know, Jeff Bezas, Richard Branson, 0:13:17.240 --> 0:13:20.760 Elon Musk going into space as Bloomberg's actually vance rights 0:13:21.040 --> 0:13:24.520 future of space bigger than the aforementioned billionaires. So let's 0:13:24.520 --> 0:13:28.280 get into it with Business Week features writer Ashley Vancey's, also, 0:13:28.320 --> 0:13:31.320 by the way, author of Elon Musk, Tesla, SpaceX, and 0:13:31.360 --> 0:13:34.320 The Quest for a Fantastic Future. He is with us 0:13:34.400 --> 0:13:36.840 on the phone from Palo Alto. Actually great to have 0:13:36.920 --> 0:13:41.840 you here. Your story puts into perspective and really addresses though, 0:13:41.880 --> 0:13:45.439 why do we care that these billionaires are going into space? 0:13:45.679 --> 0:13:49.240 How do you see it? Yeah, well, you know, I 0:13:49.320 --> 0:13:53.040 know that the these space tourism rides are eye catchy 0:13:53.120 --> 0:13:55.400 and sexy and all that, and there's a lot of 0:13:56.000 --> 0:13:58.680 people on the pro and conside. You know. The point 0:13:58.800 --> 0:14:00.520 I wanted to make is that this is just a 0:14:00.559 --> 0:14:04.559 small part of what is a just a massive build 0:14:04.600 --> 0:14:07.600 out of the private space industry that's been taken place 0:14:07.720 --> 0:14:10.640 over the last few years and really accelerated over the 0:14:10.640 --> 0:14:14.760 past year. So what can we expect to see happen 0:14:14.800 --> 0:14:17.960 in the private space industry in the next decades if 0:14:18.000 --> 0:14:20.520 all goes according to plan On Tuesday, if this is 0:14:20.520 --> 0:14:23.320 a moment where Jeff Bezos is able to successfully go 0:14:23.440 --> 0:14:27.560 past the Carmen line in his eleven minute journey. Yeah, 0:14:27.640 --> 0:14:29.760 I mean, you know, that's the space tourism sort of 0:14:29.800 --> 0:14:32.240 piece of all this, and then it's kind of these 0:14:32.320 --> 0:14:36.360 layers of building a true economy for the first time 0:14:36.680 --> 0:14:39.680 in low earth orbit around the Earth. So we've got 0:14:40.040 --> 0:14:43.400 the space tourism, you've got SpaceX doing really well, spending 0:14:43.480 --> 0:14:46.600 satellites and people to space. A company in New Zealand 0:14:46.680 --> 0:14:50.000 called rocket Lab has already sent up dozens of rockets 0:14:50.040 --> 0:14:53.320 carrying satellites. You know, if you look at the launch 0:14:53.400 --> 0:14:57.040 manifest of all these rocket companies were to send up 0:14:57.040 --> 0:15:00.120 about a hundred thousand satellites over the next decad it 0:15:00.240 --> 0:15:04.800 which would be about its currently about three thousand satellites 0:15:05.120 --> 0:15:07.600 around the Earth. And so it's just the point that 0:15:07.640 --> 0:15:09.880 I wanted to make is that this has been his 0:15:10.080 --> 0:15:13.120 dream for a long time, and you know, it's still 0:15:13.160 --> 0:15:15.600 just a handful of governments really a bit of controlled 0:15:15.640 --> 0:15:19.080 space for the last six decades, and that's changing that. Well, 0:15:19.120 --> 0:15:21.160 I love this line in your story. What happens up 0:15:21.200 --> 0:15:23.280 above us will be one of the most important economic 0:15:23.320 --> 0:15:25.760 and technological stories of the next decade, whether or not 0:15:25.880 --> 0:15:30.800 Musk ever settles Mars. Uh. It's just like in some 0:15:30.840 --> 0:15:32.960 ways or is it different from the space race back 0:15:33.000 --> 0:15:35.760 in the sixties, I mean, which led to a lot 0:15:35.800 --> 0:15:38.720 of R and D, a lot of you know, innovation 0:15:39.240 --> 0:15:44.440 and just different thinkings about our world. Yeah. I mean, 0:15:44.480 --> 0:15:47.840 you know, there's definitely, um, that sense of you know, 0:15:47.920 --> 0:15:51.320 exploring and science that takes place. But I think what's 0:15:51.400 --> 0:15:54.400 what we're talking about in the story a lot is 0:15:54.400 --> 0:15:56.800 is something that's just it's kind of more basic in 0:15:56.840 --> 0:16:00.920 some ways. It's building a the next great computer infrastructure. 0:16:00.960 --> 0:16:03.160 I think of it as like a computing shell around 0:16:03.160 --> 0:16:07.400 the Earth, full of communications, satellites, imaging science, all kinds 0:16:07.440 --> 0:16:10.040 of things and and you know, just like we had 0:16:10.120 --> 0:16:13.800 the Internet built out over the last twenty thirty years. Um, 0:16:13.840 --> 0:16:15.720 you know, I think this is going to be where 0:16:16.760 --> 0:16:19.080 the sort of next part of the cloud goes, is 0:16:19.200 --> 0:16:22.840 actually into the avot. We'll talk to us about you 0:16:22.840 --> 0:16:26.640 you talk about um a senior at Read College in Portland, Oregon. 0:16:26.920 --> 0:16:28.440 It's a great story, and I think it's a great 0:16:28.480 --> 0:16:30.920 example of what you are talking about. More broadly, here 0:16:31.160 --> 0:16:33.280 tell us who this person is. Decker Eve Litha is 0:16:33.320 --> 0:16:36.640 am I saying it correctly? Yeah, that's right. I mean, 0:16:36.840 --> 0:16:39.000 so this is an example of how far we have 0:16:39.040 --> 0:16:41.480 common people don't always notice. You know. A couple of 0:16:41.480 --> 0:16:45.320 weeks ago, the story broke all throughout the news that 0:16:45.320 --> 0:16:49.600 that we've uncovered about a hundred twenty missile silos in 0:16:49.680 --> 0:16:52.720 China that had not previously been disclosed. It seemed to 0:16:52.720 --> 0:16:55.480 be evidence that they're in the process of a very 0:16:55.560 --> 0:16:58.680 large nuclear weapons build out. You know, in the past, 0:16:58.840 --> 0:17:00.400 this kind of thing would have been dis covered by 0:17:00.400 --> 0:17:04.199 a military satellite. Um in this case, it was an 0:17:04.280 --> 0:17:08.879 undergrad read college necker who was on his laptop and 0:17:08.920 --> 0:17:12.679 he was using just commercial satellite imagery from a company 0:17:12.680 --> 0:17:14.919 called Planet Laps, and it happens to be you know, 0:17:14.960 --> 0:17:17.720 these these silos are in a desert, and so even 0:17:17.760 --> 0:17:21.160 the military satellites would not usually be looking there because 0:17:21.160 --> 0:17:23.280 it's not a point of interest. But in this case, 0:17:23.359 --> 0:17:27.640 Planet has so many imagery satellites that it photographs every 0:17:27.680 --> 0:17:29.880 spot on the Earth every day, and so they had, 0:17:29.960 --> 0:17:32.960 you know, hundreds of thousands of images over years of 0:17:33.000 --> 0:17:36.280 this spot. Actually you drew a parallel here. Just that 0:17:36.359 --> 0:17:39.760 shows how far we've come in such a short period 0:17:39.800 --> 0:17:42.040 of time, roughly seventy years. You write that when the 0:17:42.119 --> 0:17:44.760 U s went spit to space looking for Soviet weapons 0:17:44.760 --> 0:17:47.120 of mass destruction in the late nineteen fifties, it had 0:17:47.119 --> 0:17:50.240 to use rockets to carry bulky satellites into orbit where 0:17:50.240 --> 0:17:53.320 they took photos and then they dropped their film canisters 0:17:53.480 --> 0:17:57.120 back to Earth to be rather incredibly caught in mid 0:17:57.160 --> 0:18:03.320 air by planes. Wow. I mean, this was the start 0:18:03.320 --> 0:18:06.560 of the satellite imagery, you know, business as it was. 0:18:06.600 --> 0:18:09.000 It was just in the government. But and that was 0:18:09.280 --> 0:18:12.639 at the end of bank We basically have to develop 0:18:12.760 --> 0:18:16.880 rocket technology, new optics and and all these these amazing 0:18:16.920 --> 0:18:19.959 ways to catch film canisters coming back to Earth all 0:18:20.000 --> 0:18:22.959 at once, and it didn't work very often at the beginning, 0:18:23.440 --> 0:18:25.240 and they finally figured it out. But then, you know, 0:18:25.280 --> 0:18:27.840 you cut forward all this time and any one of 0:18:27.960 --> 0:18:31.679 us now could open up um this planet Lab software 0:18:31.840 --> 0:18:35.800 and start poking around and the look of it. Well, 0:18:35.800 --> 0:18:38.119 and it's interesting because as you kicked off with, you know, 0:18:38.160 --> 0:18:40.200 the arguments are, we know that there are people who 0:18:40.240 --> 0:18:42.440 go without food in this country, people who don't have 0:18:42.480 --> 0:18:45.199 great health care, who don't have internet service. You know, 0:18:45.359 --> 0:18:47.919 things that have been laid bare by the pandemic is 0:18:47.960 --> 0:18:50.639 just a reminder of the inequities, and it's you know, 0:18:50.680 --> 0:18:54.959 there are a lot of people education, right, But nonetheless 0:18:55.000 --> 0:18:58.480 your point is that there's what's going on in terms 0:18:58.520 --> 0:19:00.639 of space more generally, I mean, there will be a 0:19:00.640 --> 0:19:06.240 payoff in the economy and innovation in years to come. Yeah, 0:19:06.240 --> 0:19:08.439 And I think it's just that sense with dreaming. I mean, 0:19:08.480 --> 0:19:10.280 I think the pandemic, you know, those are all very 0:19:10.320 --> 0:19:12.760 real problems, of course, and I think a lot of us, 0:19:12.800 --> 0:19:15.760 you know, everyone's had a really difficult time over the 0:19:15.880 --> 0:19:17.840 last eight months, and I think some of it is 0:19:17.880 --> 0:19:20.760 that feeling of kind of looking inward and and you know, 0:19:20.800 --> 0:19:23.159 there's kind of a malays hanging over things that I 0:19:23.200 --> 0:19:26.160 think has has told a little bit of this moment. 0:19:26.200 --> 0:19:29.120 And I think twenty years ago, when Musk and Brampton 0:19:29.160 --> 0:19:31.639 and Phase us set out to do this, everyone's like, 0:19:31.720 --> 0:19:34.520 that will never happen, You're wasting your money, you know, whatever, 0:19:34.640 --> 0:19:37.520 go ahead, And now they've actually done it. If people 0:19:37.680 --> 0:19:41.160 aren't excited, and and you know, it's an amazing accomplishment. 0:19:41.200 --> 0:19:43.840 And I think if we're gonna, if we're gonna tackle 0:19:44.200 --> 0:19:45.919 this stuff that's ahead of us. I mean, you have 0:19:46.040 --> 0:19:48.639 to be. It's you know, it's the kinds of not 0:19:48.720 --> 0:19:50.840 these billionaires, but it's the kinds of people who work 0:19:51.040 --> 0:19:53.720 at these companies who are gonna figure some of these 0:19:53.760 --> 0:19:58.040 things out. And and there are practical applications of infrastructure, 0:19:58.640 --> 0:20:04.119 the building space. It's gonna the forests and the environment. Yeah, 0:20:04.280 --> 0:20:07.680 so much, so much more, um beyond the big billionaires 0:20:07.680 --> 0:20:10.840 battling over who's first. All right, Ashley, thank you so much. 0:20:10.840 --> 0:20:14.719 Bloomberg's actually vans uh Is, of course with us. Business 0:20:14.720 --> 0:20:17.639 Week features writer author of Elon Musk, Tesla, SpaceX and 0:20:17.640 --> 0:20:20.080 the Quest for a Fantastic Future. For those of you 0:20:20.119 --> 0:20:22.159 listening to New York DC in San Francisco watching a 0:20:22.200 --> 0:20:24.520 YouTube business Week but Tim and myself we're gonna come 0:20:24.520 --> 0:20:26.239 back if you're listening on Bloomberg one or six one 0:20:26.240 --> 0:20:28.639 in Boston based tape businesses. Next. Are you even pumped? Even? 0:20:28.640 --> 0:20:32.000 I'm so pumped. Tuesday thirty am Wall Street Time, that's 0:20:32.000 --> 0:20:35.840 when our coverage starts. This is Bloomberg Business Week with 0:20:35.920 --> 0:20:40.760 Carol Masser and Bloomberg Quick takes Tim Stenovic on Bloomberg Radio. 0:20:41.080 --> 0:20:43.919 So she keeps tabs on the higher education space. Right now, 0:20:44.000 --> 0:20:47.280 she's finding that scarce flights and visa issues are snarling 0:20:47.320 --> 0:20:49.879 students plans to reach the United States. Here with her story, 0:20:50.040 --> 0:20:53.320 Bloomberg News Higher education finance reporter Janet Lawrence. She's with 0:20:53.400 --> 0:20:57.240 us on the phone in New York City. Janet, You've 0:20:57.240 --> 0:20:59.320 been really following the ups and downs, a lot of 0:20:59.359 --> 0:21:02.400 downs over the past fifteen sixteen months when it comes 0:21:02.400 --> 0:21:06.120 to higher education and the pandemics impact on it. What's 0:21:06.160 --> 0:21:10.400 going on with international students? Well, international students would love 0:21:10.440 --> 0:21:13.240 to be getting ready to start UM their semesters in 0:21:13.280 --> 0:21:17.520 August or September, but there's having several problems. First of all, 0:21:17.560 --> 0:21:21.320 they're having trouble getting visas because of backlogs that councils 0:21:21.320 --> 0:21:24.040 and embassies around the world. And then even if they 0:21:24.040 --> 0:21:26.719 wanted to come, there's the issue of flights. We know 0:21:26.840 --> 0:21:30.159 that UM the most students come to the US from China, 0:21:30.480 --> 0:21:32.960 roughly a third of the million students that come in 0:21:32.960 --> 0:21:36.639 the typical year, and flights from China to the US 0:21:36.720 --> 0:21:43.639 are down from two years ago at this time at wow. Okay, So, 0:21:43.640 --> 0:21:45.520 so what are they what are you're talking to students, 0:21:45.560 --> 0:21:47.920 you're talking to colleges and universities, what are what are 0:21:48.200 --> 0:21:51.600 they asking from the students, asking from the colleges and 0:21:51.680 --> 0:21:55.280 universities right now. Well, at this point, you know they're 0:21:55.320 --> 0:21:57.640