WEBVTT - Focusing on the Importance of Education for All

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, radio News.

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<v Speaker 2>You're listening to Bloomberg Business Week with krol Messer and

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<v Speaker 2>Tim Stenebek on Bloomberg Radio.

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<v Speaker 1>Well, some of you may find this surprising, others may

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<v Speaker 1>not be so surprised. About fifty two percent of recent

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<v Speaker 1>college graduates are working jobs that do not require a degree.

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<v Speaker 1>And this is what's referred to as under employment. And

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<v Speaker 1>for those who find themselves underemployed after graduation, it can

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<v Speaker 1>be difficult to get get career earnings back on track.

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<v Speaker 1>In fact, after a decade, forty five percent of graduates

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<v Speaker 1>are still stuck in jobs that do not require a

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<v Speaker 1>college according or do not require college, I should say,

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<v Speaker 1>according to report by the Burning Glass Institute and the

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<v Speaker 1>Strata Education Foundation that looked at data related to educational attainment, employment,

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<v Speaker 1>and career trajectories, more than sixty million workers. Perhaps that

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<v Speaker 1>is why there seems to be a growing course of

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<v Speaker 1>people questioning whether or not the high cost of college

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<v Speaker 1>is worth it. Our next guest says it is worth it.

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<v Speaker 1>Jim Keys is the former CEO Blockbuster in seven to eleven.

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<v Speaker 1>He's also the founder of the nonprofit Education Is Freedom Foundation.

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<v Speaker 1>His new book is Education is freedom. The future is

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<v Speaker 1>in your hands. He's here with us in the Bloomberg

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<v Speaker 1>Interactive Brokers studio. Jim, so great to have you here

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<v Speaker 1>with us. We did a little bit of a setup

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<v Speaker 1>because I feel like there's so much of a debate

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<v Speaker 1>that's out there when it comes to education, your own

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<v Speaker 1>experience with education, How important was it to you to

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<v Speaker 1>where you got?

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<v Speaker 2>Ultimately it was critically important. And I can't stress enough

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<v Speaker 2>that education is such a fundamental unlocking opportunity, not just jobs.

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<v Speaker 2>But the name of the book is literally, education is freedom.

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<v Speaker 2>It's really about freedom. It's about the ability to move

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<v Speaker 2>from role to role, from career to career if you choose,

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<v Speaker 2>or even just to have a more fulfilled life. The

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<v Speaker 2>more you learn, the more you can do.

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<v Speaker 1>You don't think anything in terms of education, because it's interesting.

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<v Speaker 1>We've had a lot of conversations in the newsroom, your book,

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<v Speaker 1>and just in general about this space about when I

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<v Speaker 1>started out an undergraduate did open a lot of doors

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<v Speaker 1>for me, but I didn't need a master's or anything.

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<v Speaker 1>I was just doing it. Today it feels like I

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<v Speaker 1>hear from my own daughter, She's like, Mom, I've done

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<v Speaker 1>the undergraduate, but I'm going to need a master's to

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<v Speaker 1>go on. Is there a balance though, between going out

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<v Speaker 1>and doing it versus just kind of continuing on with education?

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<v Speaker 1>Help me out here?

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<v Speaker 2>There is. In fact, most business schools encourage you to

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<v Speaker 2>get a couple of years of experience before going back.

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<v Speaker 2>It helps you when you get back into graduate school

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<v Speaker 2>to be able to have had that real life experience.

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<v Speaker 2>But fundamentally, those tools that you get, the more you

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<v Speaker 2>enrich the bag of tools that you have, the more

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<v Speaker 2>you can do. And so it's all about flexibility and opportunity.

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<v Speaker 1>What about though, when we stay stats, Like I talked

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<v Speaker 1>in the introduction Forgive Me, I was kind of running

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<v Speaker 1>through them because I wanted to.

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<v Speaker 2>Get to you.

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<v Speaker 1>But you have graduates in college, graduates who are feeling

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<v Speaker 1>like they're stuck in a job that doesn't require college education,

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<v Speaker 1>and it feels like that's a pretty magnificant number. We're

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<v Speaker 1>talking about forty five percent. So what's your take on

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<v Speaker 1>something like that? It's one data point, I know.

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<v Speaker 2>Yeah, I just had to respond to an article that

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<v Speaker 2>that was in the Wall Street Journal recently about Walmart

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<v Speaker 2>not requiring a college degree anymore for certain jobs. But

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<v Speaker 2>you've got to Remember, we're in a unique bubble right

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<v Speaker 2>now with three and a half percent unemployment, and there

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<v Speaker 2>are a lot of jobs out there that don't require

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<v Speaker 2>a college degree, that are very well paying jobs. The

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<v Speaker 2>question is where will we be when we have seven

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<v Speaker 2>eight percent unemployment? Because of course, these things are cycles

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<v Speaker 2>and it will happen at some point in the future,

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<v Speaker 2>and that degree will help you differentiate yourself. Think of

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<v Speaker 2>it as your brand. At some point you're gonna have

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<v Speaker 2>to raise money, You're gonna have to apply for a job,

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<v Speaker 2>and not having that degree will make it difficult to

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<v Speaker 2>compete with others who do all right.

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<v Speaker 1>So then how do you know the stories about the

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<v Speaker 1>amount of student death that's out there, and kids who've

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<v Speaker 1>gotten college degrees, they're indebted and it's taking them years

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<v Speaker 1>to pay it back because they have been gotten necessarily

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<v Speaker 1>a job that has made it easy to manage that debt.

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<v Speaker 2>Well, I'm going to give you a classic business example.

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<v Speaker 2>You would never invest in a company based on today's returns.

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<v Speaker 2>You basically run a net present value of future earning

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<v Speaker 2>streams and discount it back for today's dollars. And if

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<v Speaker 2>you look at I'm not sure why we don't look

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<v Speaker 2>at our at college as an investment in ourselves because

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<v Speaker 2>it's not going to pay back in today's dollars, but

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<v Speaker 2>it will pay back over time if you look at

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<v Speaker 2>all of the statistics about having a degree versus not

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<v Speaker 2>having a degree. Now, this doesn't hold for every degree

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<v Speaker 2>that you get or every job that you have, but

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<v Speaker 2>on balance, that degree does give you far more earning

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<v Speaker 2>power over your life. And here's the way I like

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<v Speaker 2>to look at it. Getting a college degree is an

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<v Speaker 2>investment in yourself that pays dividends for the rest of

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<v Speaker 2>your life. Right, So think of it as a business

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<v Speaker 2>investment in yourself.

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<v Speaker 1>It's interesting because you are so all in on education.

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<v Speaker 2>Oh yeah, and it's.

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<v Speaker 1>It's interesting when you've got schools now that are sixty

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<v Speaker 1>seventy eighty ninety thousand dollars a year that automatically make

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<v Speaker 1>it kind of problematic for some people to afford them,

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<v Speaker 1>and that again they have to tack on a pile

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<v Speaker 1>of debt that doesn't go away so easily.

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<v Speaker 2>I had to address the same thing because I've had

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<v Speaker 2>people Now I'm out there on social media, I've got

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<v Speaker 2>kids going, Yeah, it's easy for you to say, boomer,

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<v Speaker 2>you know, you had it easy. College was cheap, so

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<v Speaker 2>I ran the numbers, and when I graduated from college,

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<v Speaker 2>my tuition was seven five hundred dollars a year. In

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<v Speaker 2>today's dollars is fifty five thousand a year. So yes,

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<v Speaker 2>it's a little bit more today, but not extraordinarily higher.

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<v Speaker 2>And this is a really important point. Endowments have been

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<v Speaker 2>massively improved today versus twenty thirty, forty fifty years ago.

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<v Speaker 2>And college discount rates, this is a really important factor

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<v Speaker 2>that no one takes into consideration, are as high as

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<v Speaker 2>forty five, fifty, sometimes sixty percent discount written in other words,

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<v Speaker 2>the amount of scholarship money that they provide. So beware

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<v Speaker 2>being intimidated by the sticker price because the actual price

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<v Speaker 2>may be significant.

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<v Speaker 1>The thing I will say about scholarships having gone through

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<v Speaker 1>the college route with my own daughter, and that there's

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<v Speaker 1>not a ton of academic scholarships anymore. There's a lot

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<v Speaker 1>on the sports side of things, and then there's a

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<v Speaker 1>lot on depending on your economic well being or not

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<v Speaker 1>so well being that and I'm so glad it's there

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<v Speaker 1>for that, but there's a lot of people in the

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<v Speaker 1>middle that kind of get stuck with that debt load.

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<v Speaker 2>There is the middle is tough, and it's always been tough,

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<v Speaker 2>and I guess if you look back at history, this

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<v Speaker 2>is not unique to today. We've always had that challenge

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<v Speaker 2>of the kids that really can't afford it are in

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<v Speaker 2>a much better position to get scholarships. The kids who

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<v Speaker 2>can afford it almost doesn't matter. Is that middle group

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<v Speaker 2>that are challenged. But again, I can't stress enough from

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<v Speaker 2>two perspectives. From the individual's perspective, it's critically important to

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<v Speaker 2>differentiate yourself down the road and make that investment. But

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<v Speaker 2>for a corporation, you know, you remember from from my bio,

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<v Speaker 2>I ran two fortune five hundred companies, right, we had

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<v Speaker 2>a hard time in employing an educated workforce at that

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<v Speaker 2>at that store manager level, and that's even more challenging

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<v Speaker 2>today with three and a half percent unemployment. So if

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<v Speaker 2>we're going to be competitive, if our corporations are going

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<v Speaker 2>to be competitive twenty thirty forty years from now, we

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<v Speaker 2>better step up and recognize the importance we'll go there.

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<v Speaker 1>Because I do feel like before the pandemic, and very

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<v Speaker 1>much so after the pandemic, the role of the corporation

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<v Speaker 1>and kind of taking care of employees. What do you

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<v Speaker 1>think should be the role of employers when it comes

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<v Speaker 1>to helping to educate their workforce.

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<v Speaker 2>Here's the way I look at it. It's a it's

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<v Speaker 2>a classic kind of turn everything into a classic business problem.

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<v Speaker 2>It's supply and demand, right, Yeah, we're the demand. Businesses

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<v Speaker 2>are the demand for an educated workforce, and yet we

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<v Speaker 2>very rarely make the investment in that education state and

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<v Speaker 2>local government that train's public school kids. And so today

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<v Speaker 2>my recommendation in the book, it's a bit of a

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<v Speaker 2>call to action to corporations to see the need for

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<v Speaker 2>investing and how do we do that through technology? You know,

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<v Speaker 2>we've got such an opportunity to transform education with things

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<v Speaker 2>like AI.

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<v Speaker 1>How we do it?

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<v Speaker 2>Yeah, digital learning, there's so much opportunity, But that's not

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<v Speaker 2>going to happen at a state and local government level.

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<v Speaker 1>So who needs to do it? The companies?

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<v Speaker 2>I think corporation should, and ultimately I think they will

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<v Speaker 2>once they've realized that this supply and demand problem is

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<v Speaker 2>a problem.

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<v Speaker 1>Are you surprised it hasn't moved along post pandemic where

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<v Speaker 1>I really thought everybody like, Okay, we got it, this technology,

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<v Speaker 1>we can do it. Look at how we all worked

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<v Speaker 1>from home. I feel like the educational space has lagged

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<v Speaker 1>in terms of embracing technology more effectively.

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<v Speaker 2>It hasn't. But you know what, it's a bit misleading

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<v Speaker 2>because I think COVID actually helped accelerate by maybe ten

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<v Speaker 2>or twenty years, right, because if you think about the

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<v Speaker 2>lack of just fundamental Wi Fi hotspots, lack of access

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<v Speaker 2>to laptops with kids, companies like AT and t IBM, Dell,

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<v Speaker 2>all Apple all stepped up and now there's a massive

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<v Speaker 2>improvement in at least availability.

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<v Speaker 1>All right, let's get back to our guest with us

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<v Speaker 1>as Jim Keys. He is the former CEO Blockbuster in

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<v Speaker 1>seven eleven. He's also the founder of the nonprofit Education

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<v Speaker 1>Is Freedom Foundation. His new book is Education Is Freedom

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<v Speaker 1>The Future is in Your Hands. And he's still with

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<v Speaker 1>us in our Bloomberg Interactive Broker Studio. I'm going to

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<v Speaker 1>kind of go back to some of the stuff you

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<v Speaker 1>and I were just talking about on air. Peter Thiel,

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<v Speaker 1>who has said, yeah, you don't have to go to college,

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<v Speaker 1>you're wrong. If Peter was here right now, what would

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<v Speaker 1>you say to him?

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<v Speaker 2>I would say, please stop. And here's why. If you

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<v Speaker 2>give a young person an excuse and say you don't

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<v Speaker 2>need to go to college. They're gonna take it. They're

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<v Speaker 2>gonna take it. So just step back from this and

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<v Speaker 2>think about global competitiveness. The United States since about twenty twelve,

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<v Speaker 2>fIF has gone from high fifties and graduates post secondary

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<v Speaker 2>graduation rates down to forty. Now COVID contributed to that decline,

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<v Speaker 2>but we're going in the wrong direction. Meanwhile, China has

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<v Speaker 2>gone exactly opposite. They have gone from the forty percent

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<v Speaker 2>range up to nearly sixty and climbing. They're doubling down

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<v Speaker 2>on the importance of an educated populist and an educated workforce.

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<v Speaker 2>And this issue is critically important to corporate America if

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<v Speaker 2>we dial forward and our ability to sustain competitiveness will

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<v Speaker 2>depend on an educated workforce demand for the supply that

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<v Speaker 2>is lagging right now.

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<v Speaker 1>What's the answer? And I think about I mean, I'm

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<v Speaker 1>one of seven kids and my parents it was all

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<v Speaker 1>about getting a college education. That was so important. My

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<v Speaker 1>dad came out of World War two a GI GI

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<v Speaker 1>bill went to like this was from the get go,

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<v Speaker 1>you can do whatever you want after you go to

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<v Speaker 1>college was kind of the mission here. How have we

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<v Speaker 1>gotten away from it in your view? And how is

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<v Speaker 1>it when there is so much education, but we see

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<v Speaker 1>our public education it feels like failing us NonStop.

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<v Speaker 2>Here. Yeah, we're in this weird bubble of the availability

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<v Speaker 2>of technology but not the application of technology. And some

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<v Speaker 2>of it comes down to how are we funded, state

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<v Speaker 2>in the local governments the challenges of that.

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<v Speaker 1>So we spend a lot of money, and we.

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<v Speaker 2>Are spending a lot of money, but we can spend

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<v Speaker 2>it far more efficiently. I don't think the solution will

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<v Speaker 2>happen leaving it up to state and local governments. I

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<v Speaker 2>hope that corporations will see that they are ultimately the

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<v Speaker 2>demand and want to step up because the technology is

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<v Speaker 2>available today to completely transform the way we teach and

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<v Speaker 2>the way we learn. We saw a little you know

0:11:39.679 --> 0:11:42.520
<v Speaker 2>and I were talking about, you know, during cold pandemic. Yeah, yeah,

0:11:42.559 --> 0:11:45.040
<v Speaker 2>during the pandemic wasn't so great for some, It wasn't

0:11:45.040 --> 0:11:46.800
<v Speaker 2>so great for some. But here's what happened. It was

0:11:47.559 --> 0:11:53.160
<v Speaker 2>a massive improvement in the availability and access that wasn't there,

0:11:53.200 --> 0:11:56.840
<v Speaker 2>particularly for the underprivileged. It's there now. What we haven't

0:11:56.920 --> 0:12:02.760
<v Speaker 2>done is integrated those platforms, upgraded the user content to

0:12:02.800 --> 0:12:06.160
<v Speaker 2>make it eye popping. So those kids that were hating

0:12:06.200 --> 0:12:08.400
<v Speaker 2>their online class with them play video games for four

0:12:08.480 --> 0:12:11.800
<v Speaker 2>or five hours. Right, So you can make school just

0:12:11.880 --> 0:12:14.640
<v Speaker 2>as engaging. That's the challenge and that will come. That's

0:12:14.640 --> 0:12:15.360
<v Speaker 2>our next step.

0:12:15.800 --> 0:12:19.720
<v Speaker 1>But do we have to be careful about technology? Yay, great, right, Jim.

0:12:19.760 --> 0:12:23.240
<v Speaker 1>But I mean I also think about the importance of

0:12:23.400 --> 0:12:27.760
<v Speaker 1>part of school is social skills, learn to communicate, like.

0:12:28.400 --> 0:12:31.160
<v Speaker 2>Exactly what's the balance here? Well, and that's too. You

0:12:31.280 --> 0:12:34.800
<v Speaker 2>just made my point. That's why a formal education still

0:12:34.880 --> 0:12:37.199
<v Speaker 2>is and will be important for quite some time because

0:12:37.200 --> 0:12:41.520
<v Speaker 2>it's more than just learning. You can learn online virtually anything, right,

0:12:41.720 --> 0:12:44.920
<v Speaker 2>But it's those meta rights. Yeah, yeah, but it's those

0:12:44.920 --> 0:12:47.920
<v Speaker 2>meta skills, it's those soft skills that I've outlined in

0:12:47.960 --> 0:12:55.000
<v Speaker 2>the book, things like curiosity, creative, creativity, critical thinking. Those

0:12:55.040 --> 0:12:58.800
<v Speaker 2>skills are things that you hone a in a classroom

0:12:59.000 --> 0:12:59.880
<v Speaker 2>working with others.

0:13:00.240 --> 0:13:02.800
<v Speaker 1>If there's one thing, one thing you could change, or

0:13:02.800 --> 0:13:05.000
<v Speaker 1>one step that you think and I'm assuming it sounds

0:13:05.000 --> 0:13:06.600
<v Speaker 1>like what you're saying is it's on the side of

0:13:06.840 --> 0:13:09.960
<v Speaker 1>corporations to really step up here. What would be the

0:13:10.040 --> 0:13:13.200
<v Speaker 1>step that the world needs to take to improve this?

0:13:13.559 --> 0:13:15.880
<v Speaker 2>Well, the first step I think is we've got to

0:13:15.920 --> 0:13:19.120
<v Speaker 2>get beyond fear, because I think fear is the big

0:13:19.200 --> 0:13:22.079
<v Speaker 2>culprit here right about that in the book, right about

0:13:22.080 --> 0:13:24.439
<v Speaker 2>a whole chapter on fear and a chapter on confidence,

0:13:24.440 --> 0:13:29.160
<v Speaker 2>because confidence is so important for learning and preparation. But

0:13:29.440 --> 0:13:31.920
<v Speaker 2>fear is the killer because we're afraid of so much.

0:13:31.960 --> 0:13:34.160
<v Speaker 2>We're afraid of some of us are afraid of teachers, unions.

0:13:34.200 --> 0:13:36.920
<v Speaker 2>We're afraid that kids are being indoctrinated. We're afraid of

0:13:37.440 --> 0:13:39.280
<v Speaker 2>you know, this and that and this and that, all

0:13:39.280 --> 0:13:42.239
<v Speaker 2>these horrible things that are buzzing around, and it's contributing

0:13:42.320 --> 0:13:45.760
<v Speaker 2>to this narrative that maybe you don't even need school. Well,

0:13:46.000 --> 0:13:48.680
<v Speaker 2>if we can reverse that fear, and you think about

0:13:48.679 --> 0:13:52.199
<v Speaker 2>the antecdote to fear its knowledge. So if we can, ironically,

0:13:52.480 --> 0:13:55.680
<v Speaker 2>if we can reverse the fear replace it with not

0:13:56.000 --> 0:14:00.760
<v Speaker 2>knowledge and understanding and confidence, then I believe that will

0:14:01.200 --> 0:14:05.200
<v Speaker 2>help us recognize the opportunity because we are there right

0:14:05.240 --> 0:14:08.880
<v Speaker 2>on the cusp of being able to completely transform the

0:14:08.920 --> 0:14:09.760
<v Speaker 2>way we teach and learn.

0:14:09.840 --> 0:14:11.360
<v Speaker 1>If we don't do this, what do you think is

0:14:11.400 --> 0:14:13.400
<v Speaker 1>the outcome or the impact in our country?

0:14:13.760 --> 0:14:17.800
<v Speaker 2>I am concerned both for our corporations and global competitiveness

0:14:17.800 --> 0:14:20.360
<v Speaker 2>of America, but also for the country itself all the

0:14:20.360 --> 0:14:24.480
<v Speaker 2>way back to Jefferson. Alexis Dtopville came from France and

0:14:24.520 --> 0:14:28.960
<v Speaker 2>said with Jefferson that the sustainability of a democracy depends

0:14:29.000 --> 0:14:30.200
<v Speaker 2>on an educated populace.

0:14:30.360 --> 0:14:31.880
<v Speaker 1>And you get into this, this whole idea of the

0:14:31.920 --> 0:14:34.880
<v Speaker 1>polarization that we see. You believe that this is going

0:14:34.920 --> 0:14:36.480
<v Speaker 1>to be the way that we get rid of some

0:14:36.560 --> 0:14:36.840
<v Speaker 1>of that.

0:14:36.840 --> 0:14:40.040
<v Speaker 2>Right, I do. I believe it's ultimately the solution because

0:14:40.080 --> 0:14:43.680
<v Speaker 2>so much of this polarization is fear and going back

0:14:43.720 --> 0:14:49.320
<v Speaker 2>to FDRs and doctrination speech all we have nothing to

0:14:49.360 --> 0:14:52.800
<v Speaker 2>fear of but fear itself, right, and we are in

0:14:52.840 --> 0:14:55.800
<v Speaker 2>the grips of fear, and it's just taking us down.

0:14:56.160 --> 0:15:00.480
<v Speaker 2>It's just distracting us from so much potential to move

0:15:00.520 --> 0:15:01.720
<v Speaker 2>forward as a people.

0:15:02.920 --> 0:15:04.320
<v Speaker 1>I'd be remissed. And we have about three and a

0:15:04.320 --> 0:15:06.760
<v Speaker 1>half minutes left to not talk about your background. It's

0:15:06.760 --> 0:15:11.760
<v Speaker 1>an incredible background. As we said, as at Blockbuster former

0:15:11.800 --> 0:15:14.800
<v Speaker 1>CEO of Blockbuster and seven eleven. You came into both

0:15:14.840 --> 0:15:19.600
<v Speaker 1>of those at difficult times. Blockbuster that was in July

0:15:19.720 --> 0:15:22.440
<v Speaker 1>two thousand and seven, I believe you took over, yes,

0:15:23.280 --> 0:15:26.480
<v Speaker 1>and then seven eleven, I think it was just before

0:15:26.640 --> 0:15:28.360
<v Speaker 1>was it the great financial.

0:15:27.840 --> 0:15:31.200
<v Speaker 2>Cris Yes, just before I arrived there in eighty five,

0:15:31.280 --> 0:15:33.240
<v Speaker 2>and then the world fell apart in eighty seven.

0:15:33.160 --> 0:15:35.280
<v Speaker 1>To the market, the market qrush in eighty seven. Forgive me, well,

0:15:35.320 --> 0:15:36.480
<v Speaker 1>your timing is impeccable.

0:15:36.520 --> 0:15:39.680
<v Speaker 2>Oh yeah, really really tough times.

0:15:39.720 --> 0:15:42.840
<v Speaker 1>What did both of those times teach you? How did

0:15:43.000 --> 0:15:44.160
<v Speaker 1>education help you through it?

0:15:44.280 --> 0:15:46.680
<v Speaker 2>There's an important message I have in the book, and

0:15:46.720 --> 0:15:49.000
<v Speaker 2>it's a whole chapter un change, And I've coined the

0:15:49.040 --> 0:15:53.320
<v Speaker 2>expression change equals opportunity, which is ironically the acronym for CEO.

0:15:53.680 --> 0:15:55.120
<v Speaker 1>Right right, And it's funny.

0:15:55.160 --> 0:15:58.320
<v Speaker 2>I don't think it's a coincidence that the role of

0:15:58.360 --> 0:16:02.080
<v Speaker 2>a CEO is to not shrink from change, because change

0:16:02.120 --> 0:16:04.880
<v Speaker 2>is inevitable. And you're right. I lived through two major

0:16:04.960 --> 0:16:09.640
<v Speaker 2>financial disasters and one we came out the other side

0:16:09.640 --> 0:16:12.440
<v Speaker 2>at seven eleven and ended up with a great result,

0:16:12.920 --> 0:16:16.080
<v Speaker 2>and at Blockbuster. Unfortunately, perhaps I got there too late,

0:16:16.600 --> 0:16:20.960
<v Speaker 2>but we couldn't turn it around in time. We did, though,

0:16:21.080 --> 0:16:23.560
<v Speaker 2>successfully take the company through our restructure and sold the

0:16:23.640 --> 0:16:27.080
<v Speaker 2>Tudish networks, which was far better than the alternative of

0:16:27.120 --> 0:16:30.000
<v Speaker 2>a total liquidation, which could have happened during those times.

0:16:30.080 --> 0:16:32.040
<v Speaker 2>We had a billion dollars on the balance sheet. But

0:16:32.120 --> 0:16:36.960
<v Speaker 2>there's so many lessons in that change can be opportunity.

0:16:37.200 --> 0:16:39.320
<v Speaker 2>It's not the change itself, it's how you responded.

0:16:39.440 --> 0:16:40.920
<v Speaker 1>Did you feel like that though when you were in

0:16:40.960 --> 0:16:41.480
<v Speaker 1>the midst of.

0:16:41.480 --> 0:16:42.840
<v Speaker 2>It, Oh, I'm normal.

0:16:43.560 --> 0:16:44.960
<v Speaker 1>I thought, why me? Why am I?

0:16:45.640 --> 0:16:46.680
<v Speaker 2>Why do I have to deal with this?

0:16:46.760 --> 0:16:49.560
<v Speaker 1>I mean really really difficult? And I think about something

0:16:49.600 --> 0:16:52.600
<v Speaker 1>like Blockbuster. I mean we talk about there's generations that

0:16:52.680 --> 0:16:55.480
<v Speaker 1>don't even know, right, But how important that was kind

0:16:55.480 --> 0:16:58.480
<v Speaker 1>of to all of us. I don't know. When you

0:16:58.520 --> 0:17:00.400
<v Speaker 1>look at your time at both of those mpanies and

0:17:00.400 --> 0:17:02.520
<v Speaker 1>you look at kind of where the world is today,

0:17:03.200 --> 0:17:08.280
<v Speaker 1>are there trends today that you just find totally fascinating.

0:17:08.280 --> 0:17:10.399
<v Speaker 1>Like I'm thinking about content and how we stream content

0:17:10.440 --> 0:17:11.560
<v Speaker 1>and how much that has come along.

0:17:11.640 --> 0:17:15.119
<v Speaker 2>Oh, absolutely, right now we're in one of those almost

0:17:15.160 --> 0:17:17.680
<v Speaker 2>similar periods. There are people trying to run a company

0:17:17.720 --> 0:17:20.440
<v Speaker 2>that borrowed money at three percent and now they're having

0:17:20.440 --> 0:17:25.720
<v Speaker 2>to pay seven eight nine percent, right, And it's it's

0:17:25.760 --> 0:17:29.119
<v Speaker 2>all about learning. And that's that's really my motive in

0:17:29.200 --> 0:17:32.000
<v Speaker 2>the book, to be able to share many, many years

0:17:32.160 --> 0:17:35.400
<v Speaker 2>of learning through experience and share it with others, to

0:17:35.440 --> 0:17:39.439
<v Speaker 2>not be afraid of change, because change ultimately is going

0:17:39.520 --> 0:17:41.760
<v Speaker 2>to happen. It's at the it's at the core of

0:17:41.800 --> 0:17:42.480
<v Speaker 2>all commerce.

0:17:42.720 --> 0:17:45.040
<v Speaker 1>You're right, right, it's constantly coming ask we know it.

0:17:45.040 --> 0:17:47.080
<v Speaker 1>It happened in our you know, it happens daily in

0:17:47.560 --> 0:17:49.680
<v Speaker 1>a program that we do where just something happens and

0:17:49.720 --> 0:17:52.040
<v Speaker 1>we've got to kind of adapt. How do you hope

0:17:52.040 --> 0:17:53.919
<v Speaker 1>people use this? Just got about thirty seconds left here

0:17:53.960 --> 0:17:54.359
<v Speaker 1>your book?

0:17:54.600 --> 0:17:57.760
<v Speaker 2>Well, my first objective is to have people read it,

0:17:58.000 --> 0:18:00.760
<v Speaker 2>and I think it's applicable. If you're young, it'll help

0:18:00.800 --> 0:18:02.679
<v Speaker 2>you in school. If you're older, it'll help you just

0:18:02.720 --> 0:18:04.880
<v Speaker 2>with life to be able to have a fuller life.

0:18:05.720 --> 0:18:08.280
<v Speaker 2>It's common sense stuff, just a reminder of the basics

0:18:08.280 --> 0:18:11.320
<v Speaker 2>of how to learn, why to learn those kinds of things.

0:18:11.680 --> 0:18:14.280
<v Speaker 2>But what I really hope people will do is see

0:18:14.280 --> 0:18:16.880
<v Speaker 2>this as an opportunity to give this book to someone

0:18:16.960 --> 0:18:19.399
<v Speaker 2>who needs it, because we all know those people that

0:18:19.440 --> 0:18:21.520
<v Speaker 2>are kind of lost. They don't know what to do.

0:18:21.560 --> 0:18:23.040
<v Speaker 2>Should I go to school, should I not?

0:18:23.359 --> 0:18:23.600
<v Speaker 1>Yeah?

0:18:23.640 --> 0:18:26.560
<v Speaker 2>Should I change careers? I think it's a great gift

0:18:26.640 --> 0:18:30.440
<v Speaker 2>book for those who need a little bit of encouragement

0:18:30.920 --> 0:18:33.240
<v Speaker 2>to realize the opportunity is in their hands.

0:18:33.440 --> 0:18:36.240
<v Speaker 1>Literally love it, love it, and I like you and

0:18:36.280 --> 0:18:38.200
<v Speaker 1>I were talking off air. I feel like education is

0:18:38.240 --> 0:18:41.320
<v Speaker 1>one of those things that needs to continue to be

0:18:41.359 --> 0:18:44.040
<v Speaker 1>disrupted and make it more accessible to a lot more people.

0:18:44.480 --> 0:18:47.680
<v Speaker 1>Jim Keis, thank you so much, great stuff. A new

0:18:47.680 --> 0:18:50.000
<v Speaker 1>book is Education is Freedom. The future is in your hands,

0:18:50.000 --> 0:18:52.320
<v Speaker 1>of course, the former CEO Blockbuster in seven to eleven