WEBVTT - Bright Horizons Providing Child-Care Help for Workers 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 Stanevik. We're here every day bringing 0:00:07.320 --> 0:00:09.799 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 --> 0:00:17.159 Week reporters and editors, not to mention our journalists and 0:00:17.120 --> 0:00:20.000 analysts in more than one twenty countries. You can download 0:00:20.000 --> 0:00:23.479 Bloomberg Business Weekend iTunes, SoundCloud, or Bloomberg dot Com. You 0:00:23.480 --> 0:00:25.400 can also listen to our radio show at two pm 0:00:25.480 --> 0:00:28.360 Eastern Time on Bloomberg Radio or watch us on YouTube 0:00:28.400 --> 0:00:32.680 search Bloomberg Global News. Carol Master along with Tim Stanoviek, 0:00:32.760 --> 0:00:35.040 we mentioned some of the COVID headlines we know. U 0:00:35.080 --> 0:00:38.280 S regulators have given emergency approval for people ages twelve 0:00:38.360 --> 0:00:40.440 to fifteen to receive a third dose of Visor's vaccine. 0:00:40.440 --> 0:00:42.640 I do feel like all of this stuff is going 0:00:42.680 --> 0:00:46.280 to be very helpful, though I don't know that's the question. Yeah, 0:00:46.320 --> 0:00:48.879 there is always that issue, right. We do know a 0:00:48.920 --> 0:00:51.400 record ten million people were diagnosed in the seven days 0:00:51.440 --> 0:00:55.080 through Sunday, almost twice the previous weekly high, as a 0:00:55.160 --> 0:00:57.240 macron spread across the globe. So we are dealing with 0:00:57.280 --> 0:01:01.000 those numbers. Um, that's the tough part of another question. 0:01:01.040 --> 0:01:03.720 Do we still care about numbers? If everyone's gonna get this, 0:01:03.760 --> 0:01:05.240 do we do we care about case count or do 0:01:05.280 --> 0:01:07.720 we care more about hospitalizations and deaths? It's a great question. 0:01:07.760 --> 0:01:09.920 Let's put that to our next guest. Dr William Hazeltine 0:01:09.959 --> 0:01:12.399 is back with us, chairman and president of Access Health International. 0:01:12.480 --> 0:01:14.880 You know who they are there, a nonprofit. They're on 0:01:14.920 --> 0:01:17.520 a mission to really improve access to high quality and 0:01:17.560 --> 0:01:21.400 affordable health care for people everywhere. Dr hazel team so 0:01:21.440 --> 0:01:25.319 well known in the biotech world. He's founded several biotech companies, 0:01:25.360 --> 0:01:28.160 including Human Genome Sciences, and he joins us once again 0:01:28.200 --> 0:01:30.520 on the phone from Connecticut. Doctor Hazel teen, so good 0:01:30.520 --> 0:01:32.120 to have you here with Tim and myself. How are 0:01:32.160 --> 0:01:35.560 you very well? And I wish you both a happy 0:01:35.640 --> 0:01:38.440 Do hear well? Same to you, happy and healthy one 0:01:38.520 --> 0:01:41.959 to all of yours. Um, what do you what's the 0:01:42.080 --> 0:01:44.280 number we need to focus on when it comes to 0:01:44.400 --> 0:01:49.240 COVID cases versus hospitalizations, versus deaths and so on. It 0:01:49.280 --> 0:01:53.000 would be a real disaster to give up comedy cases 0:01:53.040 --> 0:01:56.440 of infection. The reason for that is that's how you 0:01:56.520 --> 0:02:02.640 allocate resources. You have to know where that detection is. Secondly, uh, 0:02:02.800 --> 0:02:05.320 it is also going to be an indicator of what's 0:02:05.320 --> 0:02:07.040 going to happen in the future or what's going to 0:02:07.160 --> 0:02:11.240 happen with long COVID. Everybody talks about hospitalizations, but you know, 0:02:11.320 --> 0:02:14.640 in any battle, account that wounded, the hospital and the dead. 0:02:15.240 --> 0:02:17.960 It's important account to dead. Of course, it's important to 0:02:18.120 --> 0:02:22.280 count hospitalizations, but those who are wounded may be seriously 0:02:22.280 --> 0:02:25.680 wounded for a long time. At least half of those 0:02:25.720 --> 0:02:28.320 who have mild cases may have two or three months 0:02:28.360 --> 0:02:33.480 of serious issues, and about ten may have long term, 0:02:33.680 --> 0:02:39.720 very serious mental issues, issues with the kidneys, needing, transplants, diabetes, 0:02:40.120 --> 0:02:43.480 heart disease, a lot of really big problems. So it's 0:02:43.480 --> 0:02:46.760 really important. It would be a big disaster. You know, 0:02:46.840 --> 0:02:50.600 we count flue cases as well as clue hospitalizations and death, 0:02:51.040 --> 0:02:53.200 so I think we have to keep counting cases. It 0:02:53.240 --> 0:02:56.880 tells us what's happening where. It's also very good gunning 0:02:57.240 --> 0:03:02.760 for you personally to figure out what you're listed yetting infected. 0:03:02.320 --> 0:03:04.600 H It's sort of like the weather. It's a weather report. 0:03:04.800 --> 0:03:09.079 Is it funny, is it rainy, is it a thunderstorm 0:03:09.120 --> 0:03:12.560 or Tornado. You have to know what the infection rate 0:03:12.639 --> 0:03:15.480 is in your area. It's a very very big mistake. 0:03:15.760 --> 0:03:18.080 I think we should give up case counting. Okay, that's 0:03:18.120 --> 0:03:20.200 good to know. Hey, Dr Hazeltine, help us understand how 0:03:20.240 --> 0:03:23.000 you're thinking about the omicron variant a lot. We're getting 0:03:23.000 --> 0:03:24.600 more and more data each and every day, and the 0:03:24.680 --> 0:03:27.880 data continue to tell us that perhaps this isn't as 0:03:28.480 --> 0:03:32.960 doesn't make people as sick as previous variants, including the 0:03:33.000 --> 0:03:34.960 delta variant. What do we need to know about the 0:03:35.000 --> 0:03:39.160 omicron variant? I think that again it's false reassurance. First 0:03:39.160 --> 0:03:42.960 of all, we know really highly highly transmissible, and that 0:03:43.560 --> 0:03:46.400 you and I know that we have people who've never 0:03:46.440 --> 0:03:49.680 been infected before, who are very carefully and triplely vaccinated 0:03:50.040 --> 0:03:54.320 and even triplely vaccinated and previously affected. We're getting infected 0:03:54.680 --> 0:03:56.600 and some of them are getting pretty sick. I have 0:03:56.680 --> 0:03:59.840 friends that have been sick for ten days already with it. 0:04:00.080 --> 0:04:05.040 So it's it maybe on the statistical basis putting fewer 0:04:05.080 --> 0:04:07.920 people in the hospital, and it looks like that's likely 0:04:07.960 --> 0:04:11.240 to be true, especially if you're fascinated. I think we 0:04:11.280 --> 0:04:14.160 have very little data on what happens to that large 0:04:14.200 --> 0:04:18.320 fraction of people who aren't fascinating. Second thing, before we 0:04:18.320 --> 0:04:21.320 were willing to write this off as mild and therefore 0:04:21.400 --> 0:04:24.920 not worry about it. What's happening to our kids. It's 0:04:24.960 --> 0:04:27.240 putting a lot of our kids and young people in 0:04:27.279 --> 0:04:31.280 the hospital h three or four times more than any 0:04:31.279 --> 0:04:35.279 other uh pandemically had of this in any other ways 0:04:35.360 --> 0:04:37.560 we have in the past. So I think those are 0:04:37.600 --> 0:04:40.680 really big crushes. And finally, we don't know what this 0:04:40.760 --> 0:04:43.040 is going to do for the long COVID. So one 0:04:43.080 --> 0:04:45.520 summary of this was a trodes and horse and inside 0:04:45.520 --> 0:04:50.120 the little saying uh long trovid. So we really have 0:04:50.279 --> 0:04:53.359 to take that good look that was the pathogesis is 0:04:53.360 --> 0:04:57.240 going to be a says. Responsible attitude is to say 0:04:57.320 --> 0:05:00.200 it's serious. Let's take it carefully and do what we 0:05:00.240 --> 0:05:02.200 can to avoid it. Yeah, it's something Tim and I 0:05:02.200 --> 0:05:03.880 I know talked about. I know we talked about at home. 0:05:03.880 --> 0:05:05.560 I have a daughter who's eighteen, and she's like my 0:05:05.720 --> 0:05:10.240 fear knocking for Micah. She hasn't gotten in and she 0:05:10.320 --> 0:05:13.279 thinks about I'm a young person, what happens if I'm 0:05:13.320 --> 0:05:15.960 one of the long haulers. I do wonder to Dr 0:05:16.000 --> 0:05:18.520 Haseltine you know, we have had members of the medical 0:05:18.560 --> 0:05:20.400 community on saying you're we're all going to get it, 0:05:20.440 --> 0:05:23.760 and in some ways that may help it burn itself out. 0:05:24.279 --> 0:05:26.720 But is that true, Like I do wonder, are we 0:05:26.800 --> 0:05:31.840 still possibly at risk of a variant that is very 0:05:31.880 --> 0:05:36.120 contagious and very very virulent at the same time we 0:05:36.160 --> 0:05:39.320 are And I think that those people who have always 0:05:39.320 --> 0:05:42.919 said there's always been a tendency for people to say 0:05:43.000 --> 0:05:45.680 that this is the last one we're going to get 0:05:45.680 --> 0:05:48.560 her immunity. I think it was clear from the very 0:05:48.600 --> 0:05:51.280 beginning that there is no such thing as her immunity 0:05:51.360 --> 0:05:56.039 for coronaviruses. Coronaviruses come back, as told every year, despite 0:05:56.080 --> 0:05:58.080 the fact you've had it the year before, and they 0:05:58.160 --> 0:06:01.080 give you another call. Uh, And this thing is going 0:06:01.080 --> 0:06:07.360 to keep coming back. It has been evolved two bypass 0:06:07.480 --> 0:06:12.679 our mute defenses. Now we're fortunate that the vaccines seem 0:06:12.800 --> 0:06:16.719 to reduce hospitalization by about ten folds, which is fantastic. 0:06:17.600 --> 0:06:20.480 But how long that will hold we don't know. We 0:06:20.680 --> 0:06:23.600 just have no idea yet. Whether it's a year, two years, 0:06:23.720 --> 0:06:25.840 or three years. We're pretty sure it's not going to 0:06:25.920 --> 0:06:29.440 be forever. But this virus is not. It's never going 0:06:29.520 --> 0:06:32.440 to be such a thing in my opinion as her community, 0:06:32.600 --> 0:06:37.280 whether it's induced by vaccine or by UH infection. We 0:06:37.360 --> 0:06:41.760 have to take this really seriously Europe. Of massive research 0:06:41.920 --> 0:06:45.040 efforts which we have, we have the capability to do it. 0:06:45.160 --> 0:06:48.840 Find many ways to stop this, whether it's with drugs 0:06:48.960 --> 0:06:53.200 or better vaccines or continual vaccines. We have to take 0:06:53.240 --> 0:06:56.080 this really seriously, and it's not going to go away. 0:06:56.480 --> 0:07:00.719 Not going to go away for her community. Hey, Dr Hazeltine, 0:07:00.800 --> 0:07:02.760 last question, when is this going to be in the 0:07:02.800 --> 0:07:08.039 rear view mirror for us unpredicted I'm not willing to 0:07:08.040 --> 0:07:13.040 make that perdition. I don't see in appearing in the mirror. 0:07:13.080 --> 0:07:17.240 You asked. The question to this combine both transmission and 0:07:17.360 --> 0:07:21.880 lethality is yes, it's what we're worried about. My immediate 0:07:21.920 --> 0:07:25.400 worry is it's going to recombine the delta called the 0:07:25.400 --> 0:07:29.880 friend of mine calls it Dolment's wrong. I'm a clock. 0:07:30.480 --> 0:07:33.840 So we might create are a lot of people with 0:07:33.960 --> 0:07:35.960 both in questions in this country right now, and we 0:07:36.040 --> 0:07:39.600 know this virus is a master of recombining. So I 0:07:39.600 --> 0:07:42.000 think we don't. I don't see the rear mirror appearing. 0:07:42.080 --> 0:07:43.960 Yet so just when you say that, that whole idea 0:07:43.960 --> 0:07:45.560 of what you said earlier to about the false sense 0:07:45.560 --> 0:07:47.520 of security heard people said well it's only to be omicron, 0:07:47.560 --> 0:07:49.560 it's not so lethal, and that we were having a 0:07:49.560 --> 0:07:51.280 conversation at home. But it's like, well what if I 0:07:51.320 --> 0:07:53.400 get it and I actually get from the delta areas, 0:07:54.000 --> 0:07:56.080 you know, and it's a lot more serious. Um. Doctor 0:07:56.160 --> 0:07:58.640 Haseltine always good to get some time with you. Please 0:07:58.640 --> 0:08:02.600 stay safe and healthy. Chairman and president of Access Health International, 0:08:02.680 --> 0:08:05.320 joining us once again on the phone from Connecticut. He's 0:08:05.320 --> 0:08:10.600 also author of cv PTSD COVID related post traumatic stress Disorder, 0:08:10.680 --> 0:08:12.960 What it is and What to do about it. You're 0:08:13.000 --> 0:08:16.960 listening to Bloomberg Business Week with Carol Messer and Bloomberg 0:08:17.040 --> 0:08:21.400 Quick Takes. Tim Stinovic on Bloomberg Radio. Workers we know 0:08:21.520 --> 0:08:24.680 continuing to work remotely increasingly so with the rise in 0:08:24.760 --> 0:08:27.200 COVID cases. Meantime, their kids are spending more time in 0:08:27.240 --> 0:08:29.280 the office. For more on what's going on is Tim. 0:08:29.280 --> 0:08:31.560 It's a story you'll find online of Bloomberg Business Week. 0:08:31.640 --> 0:08:33.360 Let's bring in Jeff Green who wrote the story. He's 0:08:33.400 --> 0:08:36.240 managing diversity reporter for Bloomberg News. He joins us on 0:08:36.240 --> 0:08:38.559 the phone from Michigan. Also joining us is Joel Webber, 0:08:38.679 --> 0:08:41.280 editor at Bloomberg business Week. He is joining us on 0:08:41.320 --> 0:08:43.679 the remote access line from Brooklyn. Happy New Year to 0:08:43.760 --> 0:08:45.600 both of you guys. First, Droll, I want to start 0:08:45.640 --> 0:08:48.040 with just just for people who don't have kids, maybe 0:08:48.080 --> 0:08:51.240 they don't understand or or know what Bright Horizons is. 0:08:51.280 --> 0:08:53.319 So let's start with bright Horizons because that's a central 0:08:53.360 --> 0:08:57.520 part of the story. Oh Man, So, bright Horizons has 0:08:57.559 --> 0:09:02.120 a network of facilities us the country that allow you 0:09:02.160 --> 0:09:05.160 to basically have a daycare option, and a lot of 0:09:05.200 --> 0:09:07.439 people and a lot of employeers use that as sort 0:09:07.480 --> 0:09:13.360 of an emergency safety now, yeah, exactly, it's all part 0:09:13.440 --> 0:09:16.760 of your E A P program UM and disclaimer, Bloomberg 0:09:16.920 --> 0:09:19.400 is included in that UM. They also have an in 0:09:19.520 --> 0:09:22.600 home option that pre pre COVID, like I personally would 0:09:22.640 --> 0:09:26.320 take advantage of when things went awry. UM. And you know, 0:09:26.360 --> 0:09:28.720 as we were, we're working on a series of stories 0:09:28.760 --> 0:09:31.800 that we were calling the New Rules of Work. Jeff's 0:09:31.960 --> 0:09:35.840 UMM reporting on the company sort of fascinated us because 0:09:36.080 --> 0:09:38.959 here's a company that actually has a business model UM 0:09:39.120 --> 0:09:44.679 that could only become more helpful for employers as we 0:09:44.800 --> 0:09:48.959 as we deal with these um you know, ongoing school dilemmas, 0:09:49.080 --> 0:09:52.880 ongoing childcare issues, um. And you know, ohmacrom in some 0:09:52.920 --> 0:09:55.319 ways embodies that. So, so Jeff, tell us about what 0:09:55.400 --> 0:09:59.160 you discovered and what the future holds for the company. Yeah, 0:09:59.200 --> 0:10:00.920 well it really led me into this is the fact 0:10:00.920 --> 0:10:03.480 that like the core core of their business is offering 0:10:03.520 --> 0:10:05.680 on site daycare for people who go to the office. 0:10:05.720 --> 0:10:08.560 So my initial assumption was, well, this can't be good 0:10:09.000 --> 0:10:11.600 because you know, nobody's going to the office, But in 0:10:11.720 --> 0:10:14.360 you know, sort of just just after ten twenty minutes 0:10:14.400 --> 0:10:16.440 talking to the CEO and then also looking at what 0:10:16.520 --> 0:10:19.520 was happening, became clear that you know, there's this daycare 0:10:19.559 --> 0:10:22.360 crisis that we already knew about. Here's a company that 0:10:22.480 --> 0:10:27.920 offers not just on site decare, but subsidize reduction for 0:10:27.960 --> 0:10:30.880 the employees for the you know, hundred and twenty kids 0:10:30.880 --> 0:10:33.959 whose parents are lucky enough to have this option. Um. 0:10:34.040 --> 0:10:36.679 And so what could have been a disaster. They had 0:10:36.720 --> 0:10:38.720 to close like eight hundred and fifty of a thousand 0:10:38.800 --> 0:10:42.040 centers um right off the bat when the pandemic came. 0:10:42.080 --> 0:10:45.280 Now they're almost all back opened and you know, people 0:10:45.320 --> 0:10:47.760 are using it as a retention tool or or a 0:10:47.800 --> 0:10:50.520 recruiting tool for new employees, saying, hey, you know, come here, 0:10:50.559 --> 0:10:52.840 we'll pay for your daycare and you can, you know, 0:10:52.960 --> 0:10:54.520 have them right here at the office. And if you're 0:10:54.520 --> 0:10:56.280 not coming to your office, your kids can be here. 0:10:56.280 --> 0:10:58.680 So it was it was completely not what I expected 0:10:58.720 --> 0:11:00.439 to hear. I thought I was going to hear the 0:11:00.600 --> 0:11:03.400 story of shifting completely to another line of business, but 0:11:03.520 --> 0:11:06.280 it turned out their core was actually positioned well too. 0:11:06.960 --> 0:11:08.800 You know, Jeff, I think about I feel like for 0:11:08.840 --> 0:11:10.480 so many years has been to bododle, like even talk 0:11:10.520 --> 0:11:14.920 about child care at the office. It's really um. And 0:11:14.920 --> 0:11:16.960 I don't know whether it's cost of COVID specifically, but 0:11:17.040 --> 0:11:21.880 things have changed dramatically. Yeah, a lot of people didn't 0:11:21.920 --> 0:11:25.040 really care if their employees had children or not, except 0:11:25.160 --> 0:11:27.720 you know, maybe in the HR department. But you start 0:11:27.760 --> 0:11:29.599 to see them on zoom and you realize, you know, 0:11:29.600 --> 0:11:33.280 when your own e vps of whatever are on Twitter 0:11:33.360 --> 0:11:36.040 talking about how rough it is to parent during the pandemic, 0:11:36.080 --> 0:11:38.320 Suddenly people are like, wow, like a lot of people 0:11:38.400 --> 0:11:48.160 have children, and some of those people are struggling. Um children, Yes, exactly. Yeah, 0:11:48.160 --> 0:11:49.840 and I mean that that the that is sort of 0:11:50.240 --> 0:11:53.040 it's almost a bitter sweet tale because so many of us, 0:11:53.200 --> 0:11:55.760 I mean, I shouldn't say us, because we technically qualified 0:11:55.760 --> 0:11:58.480 for at least the temporary version, but so many, very 0:11:58.520 --> 0:12:01.560 few people can actually get the full on subsidized on 0:12:01.640 --> 0:12:04.360 site daycare that this offers. So for those people who 0:12:04.360 --> 0:12:06.679 are lucky enough to work for those companies, this is 0:12:06.679 --> 0:12:09.000 a solution to a problem that for most people still 0:12:09.040 --> 0:12:11.440 doesn't really seem to have any kind of you know, 0:12:11.720 --> 0:12:14.959 you know, the building back Better is kind of stalled, 0:12:14.960 --> 0:12:17.120 which had some money toward it. It's just we don't 0:12:17.120 --> 0:12:19.600 really see an answer for most people for this problem. 0:12:19.880 --> 0:12:21.120 You have to talk a little bit more about this, 0:12:21.160 --> 0:12:22.880 because you do make that point in the story that 0:12:22.960 --> 0:12:26.040 this is something that is is really for the luckiest 0:12:26.080 --> 0:12:29.160 of employees in the United States, a benefit that's really 0:12:29.200 --> 0:12:32.320 only available to uh in the greater scheme of things, 0:12:32.320 --> 0:12:36.640 a handful of people. Um, what is the conversation that's 0:12:36.640 --> 0:12:39.800 happening nationwide and how has that changed in the Biden 0:12:39.840 --> 0:12:43.040 administration and with the stalling of Build back Better, does 0:12:43.120 --> 0:12:45.880 that become something in two that's kind of on the 0:12:45.880 --> 0:12:49.920 back burner? Yeah, I mean unless the government or somebody 0:12:50.000 --> 0:12:52.120 is going to come forward and say, hey, everyone who 0:12:52.120 --> 0:12:55.360 has children, here's subsidized daycare for you. I mean, in 0:12:55.400 --> 0:12:58.680 some places, your daycare costs more than your rent. So 0:12:58.880 --> 0:13:00.400 if you want to be a member of the of 0:13:00.440 --> 0:13:03.040 the workforce, and you know, I mean, you can't just 0:13:03.160 --> 0:13:05.480 keep your kids at home like we did during the pandemic. 0:13:05.480 --> 0:13:08.120 That's not a long term, tenable solution for anyone who's 0:13:08.120 --> 0:13:10.240 tried to, you know, have a meeting and have a 0:13:10.280 --> 0:13:13.360 toddler or even a teenager who has you know, things 0:13:13.360 --> 0:13:15.600 they need to do. It. It works in an emergency, 0:13:15.640 --> 0:13:18.840 but it's it's not like the solution for for forever. 0:13:20.960 --> 0:13:25.520 So so speaking of forever solutions, Jeff, Like, the other 0:13:25.720 --> 0:13:27.880 thing that a CEO of a child care company like 0:13:27.920 --> 0:13:31.360 this would faces just this ongoing labor shortage UM. And 0:13:31.360 --> 0:13:34.280 what did you learn on that front, because already, you know, 0:13:34.400 --> 0:13:38.200 childcare is not um. Childcare professionals are not getting paid 0:13:38.920 --> 0:13:41.800 um you know what would even be deemed a living 0:13:41.840 --> 0:13:44.800 wage for the most part. Right, Yeah, that's one of 0:13:44.800 --> 0:13:47.600 the other advantages they have being this sort of you know, 0:13:48.240 --> 0:13:51.440 on site high end partners. They can pay more. They 0:13:51.480 --> 0:13:54.679 also offer the ability to get into like a higher 0:13:54.760 --> 0:13:58.800 education degree in child um care or you know, in 0:13:59.000 --> 0:14:01.319 child whatever. I mean, you can go you can basically 0:14:01.360 --> 0:14:03.600 get a college degree by working here and take yourself 0:14:03.600 --> 0:14:06.480 even farther into this field to a higher level of pay. 0:14:06.520 --> 0:14:08.640 So it's it's that, but it's still I mean, one 0:14:08.640 --> 0:14:10.720 of the reasons they don't expect a full return to 0:14:10.920 --> 0:14:14.160 their margins until maybe later this year or next year, 0:14:14.200 --> 0:14:17.640 whatever the latest estimate is, is the headwind of having 0:14:17.679 --> 0:14:19.840 to pay more. I mean that they're not immune to it. 0:14:19.840 --> 0:14:22.560 It's just they start from a better position and they're 0:14:22.600 --> 0:14:25.080 able to maybe attract people with some of the benefits 0:14:25.080 --> 0:14:27.200 that others just can't offer for the same reasons we've 0:14:27.200 --> 0:14:29.960 been talking about, it's really hard to have eleven twelve 0:14:30.000 --> 0:14:32.000 dollar hours kind of the tops for a lot of 0:14:32.040 --> 0:14:35.440 these teacare providers. Okay, so the other thing that you 0:14:35.480 --> 0:14:37.240 can do when you're in this business is to not 0:14:37.360 --> 0:14:41.400 just do childcare and growth for the company looks like 0:14:41.440 --> 0:14:45.400 what yeah, so, I mean you mentioned the emergency care 0:14:45.680 --> 0:14:48.600 really high margins there. Every they added a hundred and 0:14:48.600 --> 0:14:51.040 fifty at least new customers in that area I think 0:14:51.040 --> 0:14:54.920 it was, and everyone they add is bringing in higher 0:14:54.960 --> 0:14:59.480 margin business because that's basically you know, any company, including ours, 0:14:59.520 --> 0:15:01.800 pays up for a certain number of days and then 0:15:01.840 --> 0:15:04.360 also will add days as more needed. Um. And then 0:15:04.400 --> 0:15:06.600 you have some of these other they bought Citter City, 0:15:06.640 --> 0:15:10.640 they bought a daycare, I mean a camp provider, which 0:15:10.640 --> 0:15:12.160 will be you know, loom a lot larger as we 0:15:12.200 --> 0:15:14.840 come into like with the third summer of a pandemic 0:15:14.880 --> 0:15:16.960 and people are trying to figure out, you know, where 0:15:17.000 --> 0:15:19.840 where kids going to go, and you know many of 0:15:19.880 --> 0:15:22.200 them are back at school, but there all these they 0:15:22.240 --> 0:15:24.520 basically kind of hedge their bat You can, in theory 0:15:24.960 --> 0:15:28.240 use their services everywhere from your toddler to your high 0:15:28.240 --> 0:15:31.600 school senior trying to find out how to get into college. Um. 0:15:31.760 --> 0:15:34.720 So it's they've been widening the aperture of like how 0:15:34.760 --> 0:15:37.080 they approach children. In fact, some of their customers have 0:15:37.120 --> 0:15:39.000 been demanding it. They wanted you know, they use some 0:15:39.040 --> 0:15:41.200 of their facilities that were closed as like middle school 0:15:41.200 --> 0:15:43.960 care kind of centers during the pandemic. Well. I also 0:15:44.000 --> 0:15:45.520 love how they're kind of helping out what they call 0:15:45.560 --> 0:15:48.640 that Sandwich generation, right, those individuals, because they're looking into 0:15:48.720 --> 0:15:51.640 also I guess providing elder care. So it's interesting that 0:15:51.720 --> 0:15:53.600 they are looking to kind of help us at all 0:15:53.640 --> 0:15:56.120 different levels so that we can actually work, whether it's 0:15:56.120 --> 0:16:00.440 from home or elsewhere. It is another great story from you, Jeff. 0:16:00.480 --> 0:16:02.920 Thank you so much. Jeff Green, he's managing Diversity reporter 0:16:02.960 --> 0:16:05.320 at Bloomberg News on the phone from Michigan. You can 0:16:05.400 --> 0:16:08.120 check it out. It is online at business week dot com. 0:16:08.240 --> 0:16:11.680 Jill Weber, he's editor of Business Week magazine. Uh and 0:16:11.760 --> 0:16:14.320 of course you can find all those stories online on 0:16:14.400 --> 0:16:17.240 the terminal, and of course check out the news stands 0:16:17.280 --> 0:16:19.640 because you can pick up the magazine as well. But 0:16:19.800 --> 0:16:21.560 it's easy to work from home with a three year old, 0:16:23.600 --> 0:16:28.480 it's not. This is Bloomberg Business Week with Carol Messer 0:16:28.720 --> 0:16:33.080 and Bloomberg Quick Takes Tim Stenovic on Bloomberg Radio. We've 0:16:33.080 --> 0:16:35.360 been talking about already and watching. It's staying near its 0:16:35.360 --> 0:16:38.960 tides the day. It's Tesla band. It's up more today, 0:16:38.960 --> 0:16:42.320 Tesla smashing quarterly deliveries with a record of three eight thousand, 0:16:42.360 --> 0:16:45.440 six hundred cars. I saw Dani Hols article yesterday last 0:16:45.520 --> 0:16:47.520 night about this. I sent it to my team at 0:16:47.560 --> 0:16:50.680 quick take Stock and I said, watch Tesla stock tomorrow 0:16:50.800 --> 0:16:53.080 and see what happens after this. Let's bring her in now, 0:16:53.160 --> 0:16:55.880 Dana Holes, technology reporter for Bloomberg Near. She joins us 0:16:55.880 --> 0:16:58.320 on the phone from San Francisco, Dana, where you've been 0:16:58.320 --> 0:17:01.840 covering Tesla for years. This number, as you write, surpassing, 0:17:02.120 --> 0:17:04.320 you know, even the company's own expectations. Were you pretty 0:17:04.320 --> 0:17:07.320 blown away with it. I mean it was a very 0:17:07.359 --> 0:17:10.200 strong quarter. It really begs the question like why did 0:17:10.200 --> 0:17:12.480 the analysts get it so wrong? I mean, it's just 0:17:12.720 --> 0:17:15.480 like it's it's like, you know, and it's this expectations 0:17:15.520 --> 0:17:18.840 game where you know, the analysts put out you know, 0:17:18.920 --> 0:17:22.160 analysts have their own models, and then Tesla itself sends 0:17:22.200 --> 0:17:25.119 around its own consensus figures, you know that, which is 0:17:25.160 --> 0:17:28.040 sort of broader. But I mean they beat by like 0:17:28.160 --> 0:17:30.960 forty five thousand units, Like it's rare to have a 0:17:31.040 --> 0:17:34.040 beat that's quite this large. Um. You know, our bloom 0:17:34.040 --> 0:17:36.840 were consensus figures were two hundred sixty three and they 0:17:36.840 --> 0:17:41.560 delivered three six hundreds, I mean three thousand, six hundreds. 0:17:41.640 --> 0:17:44.240 So I mean that's like a pretty significant beat. And 0:17:44.520 --> 0:17:47.000 you know, I think I think it's it just shows 0:17:47.040 --> 0:17:52.480 that despite the semiconductor short shortage, despite COVID despite logistics 0:17:52.600 --> 0:17:56.080 that there is demand for electric vehicles, and um, you know, 0:17:56.119 --> 0:17:58.320 I would love more visibility from the company as to 0:17:58.400 --> 0:18:01.080 how many of these cars were sold in China. We 0:18:01.080 --> 0:18:04.520 don't have a lot of visibility into the regional breakdown. Um, 0:18:04.600 --> 0:18:06.640 but you know this is this is big for TESSI. 0:18:06.720 --> 0:18:09.520 I mean, we the transition is here and we're just 0:18:09.520 --> 0:18:11.919 sort of seeing that accelerate quarter after quarter. All right, 0:18:11.960 --> 0:18:14.199 so already up this year because it's the first day 0:18:14.240 --> 0:18:17.240 of trading, we've got at one point to a trillion 0:18:17.240 --> 0:18:20.719 dollar market cap downa you mentioned you'd like more visibility 0:18:20.760 --> 0:18:24.040 in terms of the geographic breakdowns. Why what are you 0:18:24.080 --> 0:18:27.760 looking for specifically? Well, testily just you know, their their 0:18:27.840 --> 0:18:30.679 report is just very bare bones. It's like, we sold 0:18:30.680 --> 0:18:33.359 this many cars this quarter in this year, and like 0:18:33.520 --> 0:18:35.680 we'd like to congratulate everyone on the tensile team, but 0:18:35.720 --> 0:18:38.320 they don't say where the cars are going. And you 0:18:38.359 --> 0:18:41.000 can usually find it in the ten Q which will 0:18:41.000 --> 0:18:42.920 come out after earnings, where they break down what their 0:18:43.000 --> 0:18:46.720 largest markets are. It's traditionally been the US, then China, 0:18:47.280 --> 0:18:51.560 then like Norway or the Netherlands. But but but I mean, 0:18:51.560 --> 0:18:54.199 I'm just curious like, I mean, is the U s 0:18:54.200 --> 0:18:57.080 still on top? Has China overtaken the US? I mean, now, 0:18:57.119 --> 0:18:58.840 you know, we I just don't know. I just really 0:18:58.880 --> 0:19:01.240 we really don't know and have to kind of piece 0:19:01.320 --> 0:19:04.640 together market data from a lot of disparate sources. And 0:19:05.280 --> 0:19:07.560 given you know that Tesla is the market leader, I 0:19:07.600 --> 0:19:09.960 just would love it if they would be more transparent about, 0:19:10.080 --> 0:19:12.679 you know, what is their top market and you know, 0:19:12.800 --> 0:19:14.840 I think that's just information that everyone would know because 0:19:14.960 --> 0:19:18.600 people get very hung up on like monthly sales in China. 0:19:19.240 --> 0:19:22.119 But then because of the logistics of shipping cars, the 0:19:22.200 --> 0:19:25.399 monthly sales aren't always super accurate. So I don't know, 0:19:25.400 --> 0:19:27.320 I would just I would just love more from the company. 0:19:27.359 --> 0:19:30.480 Maybe we can press on that during earnings. Yeah, I 0:19:30.760 --> 0:19:33.040 mean Elon Musk might not be on the call, right 0:19:33.160 --> 0:19:35.880 because he's kind of oh no, oh no, he will 0:19:35.920 --> 0:19:38.359 be on this call. He tweeted that he's gonna come 0:19:38.400 --> 0:19:40.680 on the call, you know, so he was I mean, 0:19:40.720 --> 0:19:44.119 it's so funny, like Elon loves the limelight. So he 0:19:44.200 --> 0:19:45.800 made this big thing of saying, I'm not going to 0:19:45.880 --> 0:19:47.840 be on the call unless I have something to say. 0:19:48.080 --> 0:19:50.040 He was not on the last earnings call, but the 0:19:50.080 --> 0:19:52.359 first time in a decade. But then in November he 0:19:52.440 --> 0:19:54.200 tweeted that he would be back on the call in 0:19:54.320 --> 0:19:58.879 January with a significant product. So first a year he 0:19:58.960 --> 0:20:01.760 will be on the call. So be on the call, Danna, 0:20:01.840 --> 0:20:03.920 What I mean, what do you think? Is it something 0:20:03.920 --> 0:20:06.720 about a cyber truck. Perhaps that thing still hasn't made 0:20:06.720 --> 0:20:10.679 an appearance. Yeah, I mean Tesla has not, so I 0:20:10.760 --> 0:20:13.080 think that I would, Yeah, I would imagine. I mean, 0:20:13.520 --> 0:20:15.919 you know, Tesla has all these vehicles in the wings, 0:20:16.000 --> 0:20:19.640 the cyber truck, semi truck, the next generation roadster. They've 0:20:19.640 --> 0:20:22.840 talked about making a cheaper car in China. I mean, 0:20:22.960 --> 0:20:25.359 maybe they'll make a delivery van, you know. I mean, 0:20:25.400 --> 0:20:28.920 who knows. But but the truck is clearly the next 0:20:28.960 --> 0:20:32.200 car in their product pipeline. And this is the year 0:20:32.200 --> 0:20:34.440