WEBVTT - Garten: tech progress is becoming more incremental

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<v Speaker 1>Global business news twenty four hours a day. If Bloomberg

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<v Speaker 1>this is a Bloomberg Business flash. And I'm Karen Moscow

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<v Speaker 1>a u S stock index futures are lower. Let's go

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<v Speaker 1>to the first word breaking news desk for today's morning call.

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<v Speaker 1>And here's Bill Maloney. Good morning, Bill, Good morning Karen.

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<v Speaker 1>That's right US. You just remain under pressure today. Down

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<v Speaker 1>futures lower by forty two points, SP futures drop seven

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<v Speaker 1>and NAZAC futures declined by seventeen US Tenniel at one

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<v Speaker 1>point nine per cent. Main up of markets are also

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<v Speaker 1>trading lower. Energy names, telecom and financials need to drop.

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<v Speaker 1>In deal news, b A s F said to be

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<v Speaker 1>a valuing rival takeover bid for DuPont. Another news value

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<v Speaker 1>to hold call on March fifteenth on preliminary Q four

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<v Speaker 1>and sixteen. Dinet's and selldex plunges fifty percent pre market

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<v Speaker 1>after studying this endpoint. Finally, some of your key wallshet

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<v Speaker 1>upgrades and downgrades. Archer Daniels cut to neutral over at

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<v Speaker 1>Bank of America. Stratus has cut the underweight to JP.

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<v Speaker 1>Morgan Michael's cut the equal weight at Morgan Stanley at Nomura,

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<v Speaker 1>Micron cut to reduce and Anger Sall Rand raised to buy,

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<v Speaker 1>Finally Win Resorts raised to buy versus neutral over at

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<v Speaker 1>ubs live in the first Breaking news descomb Bow Maloney,

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<v Speaker 1>Karen thanks Bill to hear live breaking news over your

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<v Speaker 1>Bloomberg type squawk and go on your terminal. That's s

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<v Speaker 1>qu a w K go. That's a Bloomberg business flash.

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<v Speaker 1>Tom and Mike Karen, thanks so much Bloomberg s of

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<v Speaker 1>Alan's brunch of by Investco. Have you considered all of

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<v Speaker 1>your investment alternatives? Non traditional asset classes and strategies may

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<v Speaker 1>help you achieve your goals? Find out more in investco

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<v Speaker 1>dot com slash alternatives. And Michael McKie and I were

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<v Speaker 1>in the steam because Michael, did you notice that Yale

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<v Speaker 1>Hockey once again does it? They host Dartmouth in the

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<v Speaker 1>E C A C S seven all ivy picks. They're

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<v Speaker 1>just the powerhouse. Well we are, congratulations to them, and

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<v Speaker 1>no doubt all reading Jeff Carton's new book there, well

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<v Speaker 1>you know it's funny. It's gonna be seventy one degrees

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<v Speaker 1>or so in the middle of this week. So Tom

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<v Speaker 1>is already in beach mode, and he's declared from Silk

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<v Speaker 1>to Silicon. His beach reading book of the Year, The

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<v Speaker 1>Story of Globalization Through Ten Extraordinary Lives, written by Jeffrey Garden.

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<v Speaker 1>He is the Den Ameritus of the Yale School of Management.

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<v Speaker 1>We were talking about how uh, one person, through their efforts,

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<v Speaker 1>can make a major impact on history. You've got ten

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<v Speaker 1>extraordinarily lives in there, but these are lives that have

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<v Speaker 1>been lived. Whom do you see out there as someone

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<v Speaker 1>who who could be the next the next chapter is

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<v Speaker 1>there is there a person or a subject matter that

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<v Speaker 1>you would tout as perhaps the next big thing? Well, um,

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<v Speaker 1>you know, before I answer that, I just want to

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<v Speaker 1>I just want to re emphasize the criteria I used,

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<v Speaker 1>because by any account, there are lots of really extraordinary

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<v Speaker 1>people who are doing extraordinary things. The ten that I

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<v Speaker 1>picked had a big idea, but they also were the

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<v Speaker 1>ones who executed the idea. So that really limits the

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<v Speaker 1>that limits the pool. I mean, There's been many big thinkers,

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<v Speaker 1>but to be a thinker and a doer on an

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<v Speaker 1>extraordinary scale, that that puts you in a much more

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<v Speaker 1>rarefied environment. And the second kind of criteria I had

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<v Speaker 1>is that what these guys did kicked off an entirely

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<v Speaker 1>new age. So for example, I write about my first character,

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<v Speaker 1>Genghis Khan, he really kicked off an age of global empire.

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<v Speaker 1>Or I write about um Cyrus Field, and he kicked

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<v Speaker 1>off an age of global communication, you know. And I

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<v Speaker 1>write about John Rockefeller, who kicked off an age of industrialization. UM,

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<v Speaker 1>if I use those categories is very very hard for

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<v Speaker 1>me too. I think for anyone to identify someone now, um,

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<v Speaker 1>you know, the the usual suspects. Let's say, uh, Jeff Bezos,

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<v Speaker 1>you know, or or maybe um, you know Steve Jobs,

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<v Speaker 1>or maybe um uh Elon Musk. I don't know that

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<v Speaker 1>they're kicking off new ages. Now. The person who kicked

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<v Speaker 1>off the new age in my book, the one I

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<v Speaker 1>picked that relates to all of them, was Andrew Grove,

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<v Speaker 1>because Andrew Grove, as the head of Intel, UM didn't

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<v Speaker 1>create the microprocessor, but he figured out how to make

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<v Speaker 1>it to commercial to global commercial scale. And it's the

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<v Speaker 1>microprocessor that's at the center of every Internet digitalization gadget

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<v Speaker 1>that we talked about. It could be phones, it could

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<v Speaker 1>be three D printers, it could be all kinds of sensors,

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<v Speaker 1>but without the microprocessor, none of it would be possible.

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<v Speaker 1>So you know that's that was my thinking. So who who?

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<v Speaker 1>I can identify a person, but I could identify maybe

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<v Speaker 1>a a an arena that I think someone is going

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<v Speaker 1>to come along, Let's say, and um be the person

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<v Speaker 1>who may eradicate certain diseases that would have an enormous

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<v Speaker 1>global impact in terms of the populations. I think someone

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<v Speaker 1>might come along and have a technological breakthrough when it

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<v Speaker 1>comes to climate change. You know, someone anyone who can

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<v Speaker 1>figure out how to capture the coal emissions forever. That

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<v Speaker 1>would be. But I don't know who those people are. Um,

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<v Speaker 1>I've got to rip up the script here. I put

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<v Speaker 1>out a slight article of fabulous article by Dania Goldstein. This, uh,

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<v Speaker 1>we can on Andrew Hacker in his hugely controversial book

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<v Speaker 1>basically saying liberal arts curriculum doesn't need math. I went

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<v Speaker 1>suitably ballistic, as I believe you would as well. Would

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<v Speaker 1>you explain to our audience why people that aren't going

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<v Speaker 1>to be engineers, like the people in your book, like

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<v Speaker 1>growth or or um the others, why we need math

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<v Speaker 1>at every level of our education. Well, I just think

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<v Speaker 1>we First of all, I agree with you and I

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<v Speaker 1>think we have entered in era where the kind of

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<v Speaker 1>reasoning that math induces is absolutely critical to understanding various relationships. That,

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<v Speaker 1>let me put another way, We're living in an era

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<v Speaker 1>where you need deep knowledge, but you also need to

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<v Speaker 1>be able to relate it to other things. And math

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<v Speaker 1>is the ultimate sort of relational kind of discipline. And

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<v Speaker 1>so I think we need math. I felt what you

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<v Speaker 1>were going to say is do we need poetry? And

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<v Speaker 1>I think we need that. We need as well. We

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<v Speaker 1>need that house I grew up. But I think we

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<v Speaker 1>need people who because because we can't anticipate, but the

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<v Speaker 1>world is going to be and I really believe that

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<v Speaker 1>because I think the change is moving so fast. We

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<v Speaker 1>need people who have technical capabilities but also the ability

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<v Speaker 1>to reason critically, to ask the right questions. We could

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<v Speaker 1>go for hours. Jeffrey Garden with a samarith Yale University

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<v Speaker 1>of their School of Management. The book is from Silk

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<v Speaker 1>to Silicon and it is the early Advance. As we

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<v Speaker 1>had seventy degrees temperature uh this week in New York.

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<v Speaker 1>It is the beach read of the year. It is

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<v Speaker 1>a fabulous ten chapters. I didn't even have time to

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<v Speaker 1>mention Sean Monett, which is a wonderful chapter. Jeff Garden

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<v Speaker 1>with us from Silk to Silicon. This is Bloomberg's surveillance

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