Speaker 1: Global business news twenty four hours a day. If Bloomberg
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Speaker 1: this is a Bloomberg Business flash. And I'm Karen Moscow
Speaker 1: a u S stock index futures are lower. Let's go
Speaker 1: to the first word breaking news desk for today's morning call.
Speaker 1: And here's Bill Maloney. Good morning, Bill, Good morning Karen.
Speaker 1: That's right US. You just remain under pressure today. Down
Speaker 1: futures lower by forty two points, SP futures drop seven
Speaker 1: and NAZAC futures declined by seventeen US Tenniel at one
Speaker 1: point nine per cent. Main up of markets are also
Speaker 1: trading lower. Energy names, telecom and financials need to drop.
Speaker 1: In deal news, b A s F said to be
Speaker 1: a valuing rival takeover bid for DuPont. Another news value
Speaker 1: to hold call on March fifteenth on preliminary Q four
Speaker 1: and sixteen. Dinet's and selldex plunges fifty percent pre market
Speaker 1: after studying this endpoint. Finally, some of your key wallshet
Speaker 1: upgrades and downgrades. Archer Daniels cut to neutral over at
Speaker 1: Bank of America. Stratus has cut the underweight to JP.
Speaker 1: Morgan Michael's cut the equal weight at Morgan Stanley at Nomura,
Speaker 1: Micron cut to reduce and Anger Sall Rand raised to buy,
Speaker 1: Finally Win Resorts raised to buy versus neutral over at
Speaker 1: ubs live in the first Breaking news descomb Bow Maloney,
Speaker 1: Karen thanks Bill to hear live breaking news over your
Speaker 1: Bloomberg type squawk and go on your terminal. That's s
Speaker 1: qu a w K go. That's a Bloomberg business flash.
Speaker 1: Tom and Mike Karen, thanks so much Bloomberg s of
Speaker 1: Alan's brunch of by Investco. Have you considered all of
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Speaker 1: dot com slash alternatives. And Michael McKie and I were
Speaker 1: in the steam because Michael, did you notice that Yale
Speaker 1: Hockey once again does it? They host Dartmouth in the
Speaker 1: E C A C S seven all ivy picks. They're
Speaker 1: just the powerhouse. Well we are, congratulations to them, and
Speaker 1: no doubt all reading Jeff Carton's new book there, well
Speaker 1: you know it's funny. It's gonna be seventy one degrees
Speaker 1: or so in the middle of this week. So Tom
Speaker 1: is already in beach mode, and he's declared from Silk
Speaker 1: to Silicon. His beach reading book of the Year, The
Speaker 1: Story of Globalization Through Ten Extraordinary Lives, written by Jeffrey Garden.
Speaker 1: He is the Den Ameritus of the Yale School of Management.
Speaker 1: We were talking about how uh, one person, through their efforts,
Speaker 1: can make a major impact on history. You've got ten
Speaker 1: extraordinarily lives in there, but these are lives that have
Speaker 1: been lived. Whom do you see out there as someone
Speaker 1: who who could be the next the next chapter is
Speaker 1: there is there a person or a subject matter that
Speaker 1: you would tout as perhaps the next big thing? Well, um,
Speaker 1: you know, before I answer that, I just want to
Speaker 1: I just want to re emphasize the criteria I used,
Speaker 1: because by any account, there are lots of really extraordinary
Speaker 1: people who are doing extraordinary things. The ten that I
Speaker 1: picked had a big idea, but they also were the
Speaker 1: ones who executed the idea. So that really limits the
Speaker 1: that limits the pool. I mean, There's been many big thinkers,
Speaker 1: but to be a thinker and a doer on an
Speaker 1: extraordinary scale, that that puts you in a much more
Speaker 1: rarefied environment. And the second kind of criteria I had
Speaker 1: is that what these guys did kicked off an entirely
Speaker 1: new age. So for example, I write about my first character,
Speaker 1: Genghis Khan, he really kicked off an age of global empire.
Speaker 1: Or I write about um Cyrus Field, and he kicked
Speaker 1: off an age of global communication, you know. And I
Speaker 1: write about John Rockefeller, who kicked off an age of industrialization. UM,
Speaker 1: if I use those categories is very very hard for
Speaker 1: me too. I think for anyone to identify someone now, um,
Speaker 1: you know, the the usual suspects. Let's say, uh, Jeff Bezos,
Speaker 1: you know, or or maybe um, you know Steve Jobs,
Speaker 1: or maybe um uh Elon Musk. I don't know that
Speaker 1: they're kicking off new ages. Now. The person who kicked
Speaker 1: off the new age in my book, the one I
Speaker 1: picked that relates to all of them, was Andrew Grove,
Speaker 1: because Andrew Grove, as the head of Intel, UM didn't
Speaker 1: create the microprocessor, but he figured out how to make
Speaker 1: it to commercial to global commercial scale. And it's the
Speaker 1: microprocessor that's at the center of every Internet digitalization gadget
Speaker 1: that we talked about. It could be phones, it could
Speaker 1: be three D printers, it could be all kinds of sensors,
Speaker 1: but without the microprocessor, none of it would be possible.
Speaker 1: So you know that's that was my thinking. So who who?
Speaker 1: I can identify a person, but I could identify maybe
Speaker 1: a a an arena that I think someone is going
Speaker 1: to come along, Let's say, and um be the person
Speaker 1: who may eradicate certain diseases that would have an enormous
Speaker 1: global impact in terms of the populations. I think someone
Speaker 1: might come along and have a technological breakthrough when it
Speaker 1: comes to climate change. You know, someone anyone who can
Speaker 1: figure out how to capture the coal emissions forever. That
Speaker 1: would be. But I don't know who those people are. Um,
Speaker 1: I've got to rip up the script here. I put
Speaker 1: out a slight article of fabulous article by Dania Goldstein. This, uh,
Speaker 1: we can on Andrew Hacker in his hugely controversial book
Speaker 1: basically saying liberal arts curriculum doesn't need math. I went
Speaker 1: suitably ballistic, as I believe you would as well. Would
Speaker 1: you explain to our audience why people that aren't going
Speaker 1: to be engineers, like the people in your book, like
Speaker 1: growth or or um the others, why we need math
Speaker 1: at every level of our education. Well, I just think
Speaker 1: we First of all, I agree with you and I
Speaker 1: think we have entered in era where the kind of
Speaker 1: reasoning that math induces is absolutely critical to understanding various relationships. That,
Speaker 1: let me put another way, We're living in an era
Speaker 1: where you need deep knowledge, but you also need to
Speaker 1: be able to relate it to other things. And math
Speaker 1: is the ultimate sort of relational kind of discipline. And
Speaker 1: so I think we need math. I felt what you
Speaker 1: were going to say is do we need poetry? And
Speaker 1: I think we need that. We need as well. We
Speaker 1: need that house I grew up. But I think we
Speaker 1: need people who because because we can't anticipate, but the
Speaker 1: world is going to be and I really believe that
Speaker 1: because I think the change is moving so fast. We
Speaker 1: need people who have technical capabilities but also the ability
Speaker 1: to reason critically, to ask the right questions. We could
Speaker 1: go for hours. Jeffrey Garden with a samarith Yale University
Speaker 1: of their School of Management. The book is from Silk
Speaker 1: to Silicon and it is the early Advance. As we
Speaker 1: had seventy degrees temperature uh this week in New York.
Speaker 1: It is the beach read of the year. It is
Speaker 1: a fabulous ten chapters. I didn't even have time to
Speaker 1: mention Sean Monett, which is a wonderful chapter. Jeff Garden
Speaker 1: with us from Silk to Silicon. This is Bloomberg's surveillance
Speaker 1: coming up there. With all due respect, highlight brought to
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