WEBVTT - UCLA Gets $25 Million From ‘Big Bang’ Chief for Scholarships

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news.

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<v Speaker 2>This is Bloomberg Business Week with Carol Messer and Tim

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<v Speaker 2>Stenebek on Bloomberg Radio.

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<v Speaker 1>Oh, universe was in a hot dance state the nearly

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<v Speaker 1>fourteen billion years ago.

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<v Speaker 2>Expansion started waiting for the years began to cool. The

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<v Speaker 2>atros began to Julie Andrew Falls developed tools.

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<v Speaker 1>We built a wall of the Paris fu sciencestly.

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<v Speaker 3>Started with a Big Bang.

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<v Speaker 4>All right, everybody you know it well? It aired for

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<v Speaker 4>twelve seasons September of seven to May of twenty nineteen.

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<v Speaker 4>We're talking to him about The Big Bang Theory.

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<v Speaker 3>Yeah.

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<v Speaker 2>Well, he's the co creator of the hit television comedy

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<v Speaker 2>The Big Bang Theory. It's about young scientists in Southern California.

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<v Speaker 2>As if I needed to tell any of the world knows.

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<v Speaker 2>And now he wants to help young scientists in Southern

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<v Speaker 2>California even more than he had earlier.

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<v Speaker 4>Yeah, he does through his family foundation. Chuck Luri, the

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<v Speaker 4>TV writer, director, producer, is pledging twenty four point five

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<v Speaker 4>million to the University of California, Los Angeles to help

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<v Speaker 4>more low income students study science and technology. This adds

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<v Speaker 4>to a program he began back in twenty fifteen, and

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<v Speaker 4>this donation will double the number of undergraduate scholarship recipients

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<v Speaker 4>with financial needs to eighty each year. Tim This is

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<v Speaker 4>according to UCLA.

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<v Speaker 5>Well.

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<v Speaker 2>Janet Lauren is Bloomberg News higher education finance reporter. She

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<v Speaker 2>earlier this month wrote about Lorie's latest donation. She's with

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<v Speaker 2>us here in the Bloomberg Interactive Brokers studio. Also joining

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<v Speaker 2>us is Chuck Laurie, who not only co created The

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<v Speaker 2>Big Bang Theory, but also created or co created and

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<v Speaker 2>produced Grace under Fire, Sybil Darman, and Greg two and

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<v Speaker 2>a half Men, just to name a few. Chuck joins

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<v Speaker 2>us from Los Angeles. Chuck, I do want to start

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<v Speaker 2>with you because you've done a lot of philanthropy. You've

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<v Speaker 2>supported STEM education in public schools before this latest donation.

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<v Speaker 2>Give us your thinking behind the importance of STEM, especially

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<v Speaker 2>when it comes to a world where you know we're

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<v Speaker 2>talking about AI potentially doing a lot of the work

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<v Speaker 2>for us.

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<v Speaker 5>Well, when this all began, AI was not part of

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<v Speaker 5>the conversation, so I really speak to you how that

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<v Speaker 5>changes things. But my thinking early on was very simple.

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<v Speaker 5>We had come to understand from various news reports that

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<v Speaker 5>children here and in England because they were watching the

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<v Speaker 5>Big Bang Theory or showing a spike of interest in

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<v Speaker 5>stemated stem related fields at high school and college levels.

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<v Speaker 5>And that was remarkable because that certainly wasn't the original

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<v Speaker 5>goal for the Big Bang Theory to change the trajectory

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<v Speaker 5>of a young person's life.

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<v Speaker 3>It was happening.

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<v Speaker 1>So I have to admit, as Chuck and I talked before,

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<v Speaker 1>my family and I are huge fans of Young Sheldon.

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<v Speaker 1>Me I had not watched The Big Bank Theory. We

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<v Speaker 1>actually was introduced to the characters from Young Sheldon. So

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<v Speaker 1>I have only maybe watched one episode of The Big

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<v Speaker 1>Bang Theory. So all this is new to me. But

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<v Speaker 1>I do know a lot about college financing, and one

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<v Speaker 1>thing Chuck had said to me when we spoke earlier

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<v Speaker 1>about the lack of finances is something he understood extremely

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<v Speaker 1>well because he did not finish college and carried around

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<v Speaker 1>student loans of two thousand dollars for fifteen years.

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<v Speaker 5>So he understands after fifteen years that two thousand was

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<v Speaker 5>about eight or no. Wow.

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<v Speaker 1>Yes, that's the principle of accrude interest. But that's a

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<v Speaker 1>good detail that a lot of people out there thinking

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<v Speaker 1>about college they don't think about. And what I found

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<v Speaker 1>remarkableut this program is not only does it fun college,

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<v Speaker 1>but it gives mentorship, which is something that is hard

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<v Speaker 1>to get through college without. Could you talk a little

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<v Speaker 1>bit about why that it was important and why is

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<v Speaker 1>it important for you to see, you know, kids college

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<v Speaker 1>graduate college in a reasonable amount of time, such as

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<v Speaker 1>four years, and how difficult that can be.

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<v Speaker 5>Well, one of the original goals that I had, for

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<v Speaker 5>better or worse, was to keep things local so that

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<v Speaker 5>I could participate and and local for us here in

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<v Speaker 5>Los Angeles was u c l A. And that was

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<v Speaker 5>absolutely aided by the fact that our science consultant on

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<v Speaker 5>the Big Bang theory, doctor David Salzburg, was a professor

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<v Speaker 5>of physics at u c l A. And so we

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<v Speaker 5>already had entree to the university through David and and

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<v Speaker 5>wanting to participate and give back. It seemed it made

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<v Speaker 5>sense to do so by focusing on young people who

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<v Speaker 5>were pursuing or wanted to pursue a stem field and

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<v Speaker 5>at UCLA, and also because it was local because it

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<v Speaker 5>was UCLA because of David, the mentorship process was also

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<v Speaker 5>part of this. We weren't just handing out money and

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<v Speaker 5>saying good luck for a lot of the kids. They

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<v Speaker 5>were the first generation in their families to get a

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<v Speaker 5>college education, and so they're being thrown into a thrown

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<v Speaker 5>onto a speeding train.

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<v Speaker 3>You know, right out of the gate mentorship is important.

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<v Speaker 1>Now the information about the scholarship says there's opportunities for

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<v Speaker 1>graduate school funding. We all know how expensive medical school

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<v Speaker 1>could be. Can you talk about was that important to

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<v Speaker 1>you to continue students onto this trajectory?

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<v Speaker 5>Not initially. This thing grew over a period of almost

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<v Speaker 5>ten years now, and when we realized that the success

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<v Speaker 5>rate we were having with the kids going through under

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<v Speaker 5>graduate programs UH was phenomenal, and and that's when we

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<v Speaker 5>decided to expand the program into graduate school. And again

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<v Speaker 5>we were initially trying to keep the graduate school in

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<v Speaker 5>in in the UH, in the California system so that

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<v Speaker 5>we could again stay stay close to it and participate well.

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<v Speaker 4>And I am curious to check you know, you guys

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<v Speaker 4>really worked hard to get the science right on the show, right.

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<v Speaker 4>I mean that was obviously a priority. Talking to David

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<v Speaker 4>did Well talk to us about being in that environment

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<v Speaker 4>for you and maybe how that also shaped your thinking

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<v Speaker 4>about where you wanted to commit money towards to help others,

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<v Speaker 4>you know, pursue potentially you know, degrees in the STEM world.

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<v Speaker 5>It begins with the show. The show is about UH,

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<v Speaker 5>a group of somewhat alienated, disenfranchised geniuses and UH, you know,

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<v Speaker 5>struggling to make their way in the world, but clinging

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<v Speaker 5>to one another as a community, basically almost a family

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<v Speaker 5>unit in the way they treated one another, both good

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<v Speaker 5>and bad. And so it made sense from the beginning

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<v Speaker 5>that we we we we focus on STEM UH and

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<v Speaker 5>UH for a couple of very practical reasons. One is

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<v Speaker 5>the likelihood that you graduate in one of these fields

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<v Speaker 5>you can get employed, saying can't be said with a

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<v Speaker 5>with a B A. And in the humanities or communication,

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<v Speaker 5>I think I lost you guys think.

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<v Speaker 2>About our liberal arts degrees.

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<v Speaker 5>Exactly disappointed, I, you know, very practically, I wanted to.

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<v Speaker 5>I wanted the program to also, you know, help help

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<v Speaker 5>young people who are going through you know, the journey

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<v Speaker 5>of education to end with employability. Yeah, and and UH

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<v Speaker 5>that may have been a little bit, but it seemed

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<v Speaker 5>it seemed like, Uh, wouldn't it be great to graduate

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<v Speaker 5>without debt and have a job for you Yeah?

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<v Speaker 4>Right, Yes, yes, yes, and yes right. What did you

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<v Speaker 4>study drugs? No, I'm not sure I have a follow up. No,

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<v Speaker 4>what did you really academically?

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<v Speaker 5>I may have had a it's a dim memory. I

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<v Speaker 5>was talking about a long time ago. There was also

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<v Speaker 5>rock and roll and girl, but there was it was.

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<v Speaker 5>I think I might have been a political science major.

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<v Speaker 5>I don't know if I ever mentioned it to anybody,

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<v Speaker 5>but yeah, no, also a degree also, as they used

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<v Speaker 5>to say, that degree and a token could get you

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<v Speaker 5>right on the subway.

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<v Speaker 4>We want to get back to our guest with us,

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<v Speaker 4>as Chuck Laurie, TV writer, director and producer The Big

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<v Speaker 4>Bang Theory, Young Sheldon, two and a half men, So.

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<v Speaker 2>Much more time for the interview.

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<v Speaker 4>I know he's out there in la and in our

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<v Speaker 4>studio is Janet Lauren Bloomberg News higher Education finance reporter.

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<v Speaker 4>So a couple of things we want to get to,

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<v Speaker 4>but I do want to ask you about it really

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<v Speaker 4>stung me what you said. And Jahna put in her

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<v Speaker 4>story where she wrote about your donation to UCLA that

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<v Speaker 4>you carried a student learn of about two thousand for

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<v Speaker 4>fifteen years, and you said it it grew to eight thousand.

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<v Speaker 4>The cost of education and this idea of you know,

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<v Speaker 4>kids coming out of school and not having any debt,

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<v Speaker 4>that's increasingly becoming a thing of the way past. I

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<v Speaker 4>don't know any thoughts about it as you try to

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<v Speaker 4>help others who are pursuing education in STEM fields and

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<v Speaker 4>just thinking about kind of a younger generation, how we

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<v Speaker 4>do it better, because it just feels like it's getting

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<v Speaker 4>out of control and not getting better.

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<v Speaker 3>I don't have an answer to that. I just know

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<v Speaker 3>that when State of New York caught up with me,

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<v Speaker 3>they didn't catch up with me. I was very young

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<v Speaker 3>and naiven.

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<v Speaker 5>I don't think I understood my Social Security number was

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<v Speaker 5>a target. But you know, I spent probably eight or

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<v Speaker 5>nine years sending the State of New York fifty dollars

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<v Speaker 5>a month, and that's how I got out from under it.

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<v Speaker 5>But I know, I don't have a solution for this

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<v Speaker 5>situation other than what we're doing, which is especially you know,

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<v Speaker 5>seeking out kids that are not only exceptionally talented in

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<v Speaker 5>their scholastic efforts, but high financial need, backgrounds, underrepresented kids,

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<v Speaker 5>and where the money can be puts a good use

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<v Speaker 5>in allowing them to get that STEM education and walk

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<v Speaker 5>out of UCLA with no debt. Is that seems like

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<v Speaker 5>a goal worth pursuing major gift.

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<v Speaker 2>Yeah, Hey, hey, Chuck, I want to take a step

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<v Speaker 2>back and just ask you about your broader philanthropy, because

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<v Speaker 2>this is just one part of it, the big bank theory,

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<v Speaker 2>UCLA scholars. You've got the Venice Family Clinic, Chuck, Lori

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<v Speaker 2>Rose Avenue Health and Wellness Center. You're working on some

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<v Speaker 2>stuff when it comes to food banks and other healthcare

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<v Speaker 2>related causes, a trust for public land as well in

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<v Speaker 2>the greening of schoolyards. Just give us your philosophy when

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<v Speaker 2>it comes to this type of work, this type of philanthropy,

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<v Speaker 2>like where do you see the biggest needs?

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<v Speaker 5>Well, it began very personally for me. I was very

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<v Speaker 5>ill when I was a young man, desperately ill. I

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<v Speaker 5>did not know about free clinics. I did not know

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<v Speaker 5>where to go. I certainly had no insurance medical insurance,

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<v Speaker 5>and I was It was a very frightening several years,

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<v Speaker 5>and I was very fortunate that I managed to recover.

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<v Speaker 3>But but that's that stays with you.

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<v Speaker 5>If you can't afford to see a doctor and you

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<v Speaker 5>need a doctor, that's a fear that I don't wish

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<v Speaker 5>on anyone. And so that the philanthropy efforts began back

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<v Speaker 5>in the nineties for me with Venice Family Clinic, which

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<v Speaker 5>I wish I had actually known about when I was

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<v Speaker 5>in my early twenties, but the idea that you could

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<v Speaker 5>see a doctor without having any money in your pocket,

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<v Speaker 5>I thought it was something I wanted to participate in.

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<v Speaker 5>So I've been involved with the Venice Family Clinic for

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<v Speaker 5>I don't know twenty five twenty six years, and that's

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<v Speaker 5>expanded to other healthcare opportunities, and so that began, and

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<v Speaker 5>then and then the STEM. The STEM efforts, as I

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<v Speaker 5>said before, began really by accident when we found out

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<v Speaker 5>that inexplicably or explicably the Big Bank theory was encouraging

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<v Speaker 5>young people to pursue STEM research STEM fields.

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<v Speaker 3>Uh and uh.

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<v Speaker 5>So the thought was really quite simple, maybe we can help. Yeah,

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<v Speaker 5>I mean, the original goal in making that show was

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<v Speaker 5>to make people laugh. It was not to change again

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<v Speaker 5>to change the trajectory of a young man or.

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<v Speaker 3>Young woman's life.

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<v Speaker 5>But it was doing that. So as long as it

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<v Speaker 5>was doing that, let's participate. And that's how the scholarship started.

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<v Speaker 1>Well, young Sheldon has really made us laugh.

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<v Speaker 5>By the way, I love I absolutely love that you're

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<v Speaker 5>watching Young Sheldon and you haven't watched The Big Bank.

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<v Speaker 1>It's amazing.

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<v Speaker 2>It's like it's like a gate but it could be

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<v Speaker 2>a gateway into the original show that it's spun off from.

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<v Speaker 1>But he's a great character, and so is doctor Sturgis.

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<v Speaker 1>I love Doctor.

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<v Speaker 3>Surge Wally Sean.

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<v Speaker 5>We've been so blessed with some of the casting at Begley,

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<v Speaker 5>and while it was Sean, it's been a terrific experience.

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<v Speaker 1>And the university president that depiction seems entirely realistic to me, Well,

0:14:14.920 --> 0:14:18.559
<v Speaker 1>how did you decide to pivot into young Sheldon? And

0:14:19.040 --> 0:14:22.120
<v Speaker 1>you know he finished college in what three years? And

0:14:22.960 --> 0:14:26.000
<v Speaker 1>the idea of going to East Texas Tech, And how

0:14:26.000 --> 0:14:28.320
<v Speaker 1>did that all come about? Because it is it is

0:14:28.360 --> 0:14:31.080
<v Speaker 1>a sort of a realistic path or a young genius

0:14:31.120 --> 0:14:31.320
<v Speaker 1>like that.

0:14:33.000 --> 0:14:36.800
<v Speaker 5>Well, the backstory of Sheldon on The Big Bang Theory

0:14:37.520 --> 0:14:41.160
<v Speaker 5>was that he graduated college at fourteen or thirteen or

0:14:41.160 --> 0:14:45.040
<v Speaker 5>fourteen I forget exactly, and then went to cal Tech

0:14:45.640 --> 0:14:53.160
<v Speaker 5>to do postgraduate work. And so we had already laid in,

0:14:53.440 --> 0:14:58.960
<v Speaker 5>you know, the backstory for Sheldon's journey graduating graduating high

0:14:59.000 --> 0:15:03.320
<v Speaker 5>school at the age of al eleven and and uh,

0:15:03.520 --> 0:15:05.600
<v Speaker 5>you know, in a in an East Texas town where

0:15:05.800 --> 0:15:09.000
<v Speaker 5>they simply did not have the wherewithal to deal with

0:15:10.320 --> 0:15:14.200
<v Speaker 5>a genius of that of that of that size, and

0:15:14.640 --> 0:15:17.960
<v Speaker 5>East Texas Tech we invented in order to in order

0:15:18.000 --> 0:15:20.720
<v Speaker 5>to keep him, you know, to keep him look so

0:15:20.760 --> 0:15:23.520
<v Speaker 5>we can do the show and uh, and for have

0:15:23.720 --> 0:15:27.880
<v Speaker 5>him ripping through that university as well on his way

0:15:28.360 --> 0:15:31.960
<v Speaker 5>to cal Tech and and ultimately as we did.

0:15:32.200 --> 0:15:33.400
<v Speaker 3>If you watch The Big.

0:15:33.240 --> 0:15:36.120
<v Speaker 5>Bang Theory, he does win a Nobel Prize in the

0:15:36.200 --> 0:15:38.360
<v Speaker 5>in the final up, we.

0:15:38.360 --> 0:15:41.800
<v Speaker 4>Definitely get it. We're gonna work Chuck on Janet because

0:15:42.240 --> 0:15:44.400
<v Speaker 4>she's got it. If she likes young Sheldon, she's gonna

0:15:44.440 --> 0:15:46.240
<v Speaker 4>love The Big Bang Theory. She's got it like the

0:15:46.800 --> 0:15:47.160
<v Speaker 4>it's like.

0:15:50.360 --> 0:15:54.080
<v Speaker 5>It is different and the seed that the absolute genius

0:15:54.480 --> 0:15:59.200
<v Speaker 5>of that cast let. Jim Parsons playing Sheldon at a

0:15:59.280 --> 0:16:02.760
<v Speaker 5>later age, it's it's we had. We had twelve years

0:16:02.800 --> 0:16:04.640
<v Speaker 5>of absolute fun making that show.

0:16:06.120 --> 0:16:08.480
<v Speaker 4>Just get a minute left? Do you have a favorite

0:16:08.520 --> 0:16:12.000
<v Speaker 4>moment in time considering all that you've worked on and

0:16:12.160 --> 0:16:15.480
<v Speaker 4>created or co created or what? Have you? Just got

0:16:15.520 --> 0:16:17.120
<v Speaker 4>about forty five seconds left here?

0:16:18.520 --> 0:16:20.680
<v Speaker 5>Wow, that's a macro question I know.

0:16:20.880 --> 0:16:23.160
<v Speaker 4>Sorry, I'm a member kind of gal.

0:16:24.600 --> 0:16:28.520
<v Speaker 5>It's kind of hard to pull a favorite moment. There

0:16:28.640 --> 0:16:31.960
<v Speaker 5>certainly have been moments that that have stuck with me.

0:16:34.160 --> 0:16:34.320
<v Speaker 3>No.

0:16:35.800 --> 0:16:39.960
<v Speaker 5>One of the I'm not Rather than specifically answer that question,

0:16:41.080 --> 0:16:45.240
<v Speaker 5>what I've loved about The Big Bang Theory h and

0:16:45.320 --> 0:16:47.800
<v Speaker 5>I guess you know we're talking mostly about young Sheldon

0:16:48.520 --> 0:16:52.560
<v Speaker 5>is and I think why it was attractive to young people, Yeah,

0:16:54.120 --> 0:16:58.240
<v Speaker 5>if you felt this enfranchised, if you felt you're on

0:16:58.320 --> 0:17:00.720
<v Speaker 5>the outside looking in, which a lot of people do,

0:17:00.800 --> 0:17:03.440
<v Speaker 5>and you don't have to be a mensa participant or

0:17:03.440 --> 0:17:07.879
<v Speaker 5>a genius to feel that way. The show represented community,

0:17:07.920 --> 0:17:13.320
<v Speaker 5>is represented, like minded souls helping one another. Maybe that's

0:17:13.359 --> 0:17:15.359
<v Speaker 5>what was at practice to kids watch it.

0:17:15.760 --> 0:17:19.080
<v Speaker 4>I think that's a great way to finish up. Listen,

0:17:19.280 --> 0:17:21.840
<v Speaker 4>thank you, and it's a great thought. Thank you so much,

0:17:22.000 --> 0:17:25.680
<v Speaker 4>so appreciate it. Be well, Chuck Lori, TV writer, director, producer,

0:17:26.280 --> 0:17:28.479
<v Speaker 4>co creator The Big Bang Theory, and of course our

0:17:28.560 --> 0:17:29.120
<v Speaker 4>Janet Lauren.

0:17:29.200 --> 0:17:30.440
<v Speaker 3>Here this is Bloomberg