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Speaker 1: This is Bloomberg Business Week. I'm Carol Masser and I'm

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Speaker 1: Jason Kelly. We're here every day bringing you the latest

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Speaker 1: news from the world's of business and finance, plus technology, politics, economics,

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Speaker 1: all harnessing the power of Bloomberg Business Week reporters and editors,

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Speaker 1: not to mention our journalists and analysts and more than

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Speaker 1: a hundred and twenty countries. You can download Bloomberg Business

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Speaker 1: Week on iTunes, SoundCloud, or Bloomberg dot Com. You can

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Speaker 1: also listen to our radio show weekdays at two pm

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Speaker 1: Eastern only on Bloomberg Radio. All Right, well, you gotta

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Speaker 1: love it when it all comes together. From an organizational perspective,

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Speaker 1: We've got a vast journalistic enterprise here at Bloomberg, and

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Speaker 1: this week on newsstands is Bloomberg Business Weeks Equality Issue,

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Speaker 1: And here we are at the Equality Summit, almost like

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Speaker 1: we planned that. It's almost like we planned at. Joel Webber,

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Speaker 1: editor of Bloomberg Business Week, here with me in New

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Speaker 1: York City, and Jillian Goodman, really the architect of a

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Speaker 1: lot of this coverage, joining us from DC. She oversees

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Speaker 1: a lot of our political coverage as well. So Jillian,

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Speaker 1: let me start with you, because it's a tough it's

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Speaker 1: a tough topic to take on, especially in its scope.

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Speaker 1: I mean, I just outsourced my job. Let's say for us,

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Speaker 1: please handle this. Uh so, how did you go about

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Speaker 1: this at the stage? Yeah, well, so this is the

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Speaker 1: second time we've done it, and so we did have

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Speaker 1: a little bit of the benefit of looking at last

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Speaker 1: years and saying, Okay, what do we like about that?

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Speaker 1: What didn't we like about that? And you know, last

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Speaker 1: year we were coming out, you know, just as the

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Speaker 1: me too movement was heating up, and so it really

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Speaker 1: felt like, okay, we'll look at the workplace specifically, like

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Speaker 1: what goes on in offices. And so this year I

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Speaker 1: wanted to take a little bit of a step back

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Speaker 1: and say like, okay, let's let's look at some of

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Speaker 1: the factors that would keep someone from getting into that

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Speaker 1: office in the first place. And so, you know, we're

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Speaker 1: talking about economic mobility, We're talking about uh, you know,

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Speaker 1: access to education, we're talking about um, you know, just

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Speaker 1: a lot of factors that go into determining someone and

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Speaker 1: you know, earning power in the future. And I even

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Speaker 1: want to go a little bit even more meta than that, Jillian,

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Speaker 1: which is why why do this at all? I mean,

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Speaker 1: you know, it is it's you know, I've just laughed,

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Speaker 1: But it's not that funny of a question, because you know,

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Speaker 1: this is obviously something that we talk about in all

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Speaker 1: kinds of different ways and all kinds of different scenarios,

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Speaker 1: and so it does you know, when you say, like, okay,

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Speaker 1: let's do an issue about equality, like let's put a

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Speaker 1: bunch of stories about equality all in the same issue,

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Speaker 1: it is, you know, a really big challenge. But I

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Speaker 1: think that, you know, especially given that we're sitting here

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Speaker 1: thinking about the business community in the business world all

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Speaker 1: day every day, it really really bears considering, you know,

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Speaker 1: every once in a while to just take a step

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Speaker 1: back and say, like, okay, who gets to be here

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Speaker 1: and and and look about why they get to be

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Speaker 1: there and not just you know, we like to pretend

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Speaker 1: that we would like to believe that it's a meritocracy

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Speaker 1: all the time, but it's it's much more complicated than Yeah.

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Speaker 1: I mean, I think I can kind of answer my

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Speaker 1: own question there, which is I actually think it's the

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Speaker 1: most important topic and business right now, and if we

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Speaker 1: don't talk about it, then we're doing this massive disservice

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Speaker 1: to the business community as well as the people who

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Speaker 1: are not included in the conversation, right, And I think,

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Speaker 1: you know, one of the things that Jillian was really

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Speaker 1: able to do with this package of stories is think

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Speaker 1: about these little corners of the world that are underrepresentative.

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Speaker 1: And you know that I thought that the package and

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Speaker 1: portfolio that you did around um trans was especially poignant

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Speaker 1: in that way. Can you talk about that for a second. Absolutely. Yeah,

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Speaker 1: So we spoke to you know, I think there are

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Speaker 1: six people in our print magazine and nine people in

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Speaker 1: our online presentation. Uh, you know, people who who are

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Speaker 1: trans about their experiences in the workplace, and you know,

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Speaker 1: they talked about everything from you know, some people who

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Speaker 1: were sort of coming to this realization about themselves, you know,

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Speaker 1: who have grown up in the sixties and seventies. And

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Speaker 1: it was remarkable to me the number of people who

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Speaker 1: just said, like, I didn't have the language to describe

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Speaker 1: what I was feeling, and so you know, it takes

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Speaker 1: a while to get up to that point and then

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Speaker 1: once you do. You know, we had one one, one

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Speaker 1: woman who described coming out to her in her workplace

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Speaker 1: and she when she was going to get facial surgery,

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Speaker 1: and she said, you can't. You know, there's no going

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Speaker 1: back from that, Like people are going to ask questions.

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Speaker 1: You cannot pretend this isn't happening. Um. Yeah, that was sorry.

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Speaker 1: That was reported by Riley Griffin, whose name I really

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Speaker 1: want to make sure it's in this conversation because she's wonderful. Um.

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Speaker 1: Josh Idolson also wrote about a woman named Amy Stevens,

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Speaker 1: whose case um the Supreme Court I believe hasn't decided

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Speaker 1: yet whether or not it's going to take up, but

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Speaker 1: who was fired from her job at a funeral home

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Speaker 1: when she came out as trans supper time. Yeah, and

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Speaker 1: that you know, has the power to reshape potentially the

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Speaker 1: way we consider speaking of time. I think, can we

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Speaker 1: gotta talk about Lloyd's. We gotta talk about Lloyd's. I mean,

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Speaker 1: it was a powerful story to begin with, you know,

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Speaker 1: looking at Lloyd's of London taking us inside. You know

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Speaker 1: what you guys rightly describe is a boozy culture. Talk

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Speaker 1: to us about the impact that that story has had.

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Speaker 1: Because I saw my Twitter feed this morning. You've got

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Speaker 1: an MP who's already getting in touch with the company

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Speaker 1: and saying I'm gonna come visit Yeah, it's really extraordinary.

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Speaker 1: I mean, we had the CEO on Bloomberg TV yesterday

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Speaker 1: who described, you know, considering a no a zero tolerance

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Speaker 1: policy for sexual harassment, and you know, we they convened

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Speaker 1: a group of insurance executives discovered to discuss this policy

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Speaker 1: on Monday. So you know, I'm you know, kind of

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Speaker 1: florid at the impact the story has had. I mean,

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Speaker 1: to me, that's the most impressive thing about the story.

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Speaker 1: It's like we put a spotlight on something that, um,

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Speaker 1: no one knew about. This is a company that's been

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Speaker 1: around for for hundreds of years, um, and yet there's

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Speaker 1: this toxic culture that continues to seem to permeate. And

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Speaker 1: this is it was happening right out in the open

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Speaker 1: difference between your what's happened in Europe versus what's happened

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Speaker 1: in the US, and you can almost start to see

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Speaker 1: how what's happened here it can actually cross the pond

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Speaker 1: and actually maybe effect change. And to have it happened

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Speaker 1: within a week, like a new CEO has only been

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Speaker 1: there for a couple of months, uh, and he has

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Speaker 1: to go on an offensive here to say like this

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Speaker 1: culture will not stand. I'm on it yeah, all right,

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Speaker 1: So Jillian, about thirty seconds left. Uh, I know it's

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Speaker 1: trying to take a which is the I think the

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Speaker 1: ultimate challenge here is how do you not include something? Right? So, Jillian,

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Speaker 1: how do you think about this for next year? What

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Speaker 1: are we going to include that we haven't included for

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Speaker 1: for this one? Oh my gosh, I think I need

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Speaker 1: to take a few more naps before I can answer

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Speaker 1: that question. But you know, it's such as there are

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Speaker 1: plenty of I'm sure there will be plenty of stories

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Speaker 1: to choose from. Well, I will say, you know, unfortunately,

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Speaker 1: unfortunately the news cycle has come to all of us,

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Speaker 1: and I like, we're gonna be watching this college admission

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Speaker 1: scandal because that has laid bare a whole level of

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Speaker 1: inequality that where you can read about Rebecca Cantor's got

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Speaker 1: a potential fixed word exactly. So a lot to come. Uh.

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Speaker 1: Congratulations on a great issue to both of you manifesting itself.

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Speaker 1: Live here in New York City today at the Bloomberg

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Speaker 1: Equality Summit. You are listening to Bloomberg Business Week. That

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Speaker 1: was Joel Weber and Jillian Goodman. I'll Jason here in

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Speaker 1: New York. This is Bloomberg Radio she said, all right,

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Speaker 1: so we're gonna give you a little bit of a

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Speaker 1: sneak peek of this week's Bloomberg Business Week magazine. There's

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Speaker 1: a new section. It's called Strategies, and this week it

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Speaker 1: features Joanne Lippman. She's a former editor in chief of

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Speaker 1: USA Today. She's also author of the book That's What

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Speaker 1: She said, what men need to know and women need

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Speaker 1: to tell them about working together. She joins us on

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Speaker 1: the phone from New York City. Joanne, great to talk

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Speaker 1: to you. Likewise, thanks for having me, Tason. I'm a

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Speaker 1: long time admirer of your work. You've been uh in many,

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Speaker 1: many influential positions across the world of journalism, and I

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Speaker 1: wonder as you've gone through those jobs, you've really been

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Speaker 1: quite an innovator in journalism. You've talked to a lot

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Speaker 1: of ceo s, you've led organizations. What's the one big

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Speaker 1: thing that people need to know about your book? Sure?

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Speaker 1: So the reason I wrote that's what he said is

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Speaker 1: because exactly as you said, I've been rising up through

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Speaker 1: these leadership positions and as i've um, you know, spent

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Speaker 1: these this time in journalism, and I get invited to

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Speaker 1: these leadership summits of women, and you hear women at

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Speaker 1: every one of these organizations talking to one another about

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Speaker 1: the issues we face at work. And I'm not just

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Speaker 1: talking about the me to issues of sexual abuse, but

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Speaker 1: the the everyday challenges that women's face of being marginalized

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Speaker 1: and overlooked, ignored, uh, interrupted, and simply not taken as

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Speaker 1: seriously as the guy sitting right next to them. And

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Speaker 1: I grew frustrated. I have to tell you above women

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Speaker 1: talking to each other, And I said, you know what,

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Speaker 1: women talking to each other, it's half a conversation, and

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Speaker 1: it gets us to half a solution. We need men

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Speaker 1: to join us. And that's why I wrote. That's what

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Speaker 1: she said. It's really about getting men into that conversation.

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Speaker 1: And and by the way, I have to tell you

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Speaker 1: in my career, which started at the Wall Street Journal,

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Speaker 1: all of my mentors were men and most of my

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Speaker 1: colleagues were also men. So I know there's a lot

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Speaker 1: of great guys out there who do want to be

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Speaker 1: part of the solution in closing the gender gap. And

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Speaker 1: at such a good point, and I feel like more

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Speaker 1: and more we are, you know, hearing more about allies,

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Speaker 1: and you know how men can be involved in this,

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Speaker 1: and I will say and I say, this is a man.

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Speaker 1: You know, some men enter into this with a little

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Speaker 1: bit of trepidation. They sort of feel like they've got

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Speaker 1: to be careful about what they say or don't say.

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Speaker 1: What do you say when when people express that concern? Yeah,

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Speaker 1: So there's there's two types of what you're talking about, right,

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Speaker 1: There's two levels. One is the guys who say, oh,

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Speaker 1: I'm never going to mentor a woman again, never gonna

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Speaker 1: hire a woman, and which is super lame. Let's just

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Speaker 1: let's let's agree that no patience for that. What are

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Speaker 1: these are guys who are not mentoring women in the

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Speaker 1: first place. However, I'm not going to do the thing

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Speaker 1: that I'm not doing already exactly exactly. But for the

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Speaker 1: men who, for the majority of men and really who

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Speaker 1: are saying, okay, have the rules change, what do I do?

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Speaker 1: There's never been a better time than now to talk

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Speaker 1: about the issues, to raise the issues of gender quality

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Speaker 1: and to become an ally. And there's some really simple

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Speaker 1: ways that you can be an ally and a lot

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Speaker 1: of it comes down to awareness. Um, there's so many

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Speaker 1: issues that we see that women experience. For example, the

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Speaker 1: research shows that women are interrupted three times more frequently

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Speaker 1: than men are then Supreme Court justices. Female Supreme Court

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Speaker 1: justices are interrupted three times more frequently than male justices.

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Speaker 1: So one of the recommendations I give is simply listen

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Speaker 1: for that interrupt the interrupters. Right. If you hear a

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Speaker 1: woman being interrupted, listen to that and then say, hey,

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Speaker 1: Chloe was speaking, I would love to hear her. Finish

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Speaker 1: her up her point, um get a Similarly, there's a

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Speaker 1: have that experience where they say something, particularly in a meeting,

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Speaker 1: everybody turns to him and they're like, hey, Dave right,

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Speaker 1: and Dave gets the credit. Um, we need to listen

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Speaker 1: couple of ways. One is simply amplifying her voice, which

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Speaker 1: all I could be a man, could be a woman,

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Speaker 1: repeats her point and gives her credit by name, thus

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Speaker 1: amplifying her point um. And then there's the other issue,

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Speaker 1: sure that the bosses know that the idea originated with her. Well,

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Speaker 1: and I love that idea of of essentially sort of

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Speaker 1: like having a having a compliment buddy, which I think

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Speaker 1: you talked about, which is like, I thought your back

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Speaker 1: to sort of make sure that the boss knows that

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Speaker 1: the same thing for me. A lot of lessons for

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Speaker 1: all of us in that. Yeah, absolutely, and the women

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Speaker 1: and a consulting from Actually we're the ones who told

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Speaker 1: me about this back concept. They call it brag buddies, buddies,

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Speaker 1: brag buddies. I'll be your brag buddy, right, So that

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Speaker 1: means you tell me your awesome achievements and I tell

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Speaker 1: you mine, and then we each go to the boss

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Speaker 1: and brag about the other one. Well, it's an excellent,

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Speaker 1: excellent book, and we're so excited to have you join us.

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Speaker 1: And uh. For more from Joe and Letvian check out

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Speaker 1: this upcoming edition of Bloomberg Business week her book is.

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Speaker 1: That's what she said what men need to know and

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Speaker 1: women need to tell them about working together. Earlier this

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Speaker 1: morning on Bloomberg Television, I got a chance to catch

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Speaker 1: up with Bill Ford. He is the CEO of General Atlantic,

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Speaker 1: one of the biggest and best known growth equity funds.

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Speaker 1: They sit right between venture capital and private equity. They've

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Speaker 1: got a bunch of really interesting companies in their portfolio. Uber, Airbnb, Slack,

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Speaker 1: uh Torches, Tacos. For those of you listening in Texas

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Speaker 1: and in the West, we had a wide ranging conversation.

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Speaker 1: Take a listen. I p O s on the deck

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Speaker 1: for Lift, potentially Uber Slack, that's another name you're involved in.

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Speaker 1: Others may come out. What's the market gonna be like

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Speaker 1: for them? Hotly anticipated? Yeah, I would say two things.

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Speaker 1: for a couple of reasons. You've got some wonderful companies

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Speaker 1: going to introduce investors to the sharing economy and the

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Speaker 1: very very large rideshare market. And then on the enterprise

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Speaker 1: software space, you've got Palenteer, CrowdStrike, Slack, all highly anticipated

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Speaker 1: And also we had that great crop of cloud software

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Speaker 1: it's setting up to be a great year. The other

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Speaker 1: thing about the I p O market that we've observed

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Speaker 1: over the years is that, um, when you have a

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Speaker 1: O market, and we have them now. We've seen the

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Speaker 1: Levi Stroud steel work. I think Lift will be successful,

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Speaker 1: and I think it's since it's been nice conditions for

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Speaker 1: the balance of the year. All right, nice conditions to exit.

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Speaker 1: What about getting into deals? How much do you worry

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Speaker 1: about valuations in this sort of goldilocks market? Well, private

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Speaker 1: market values are up, there's no there's no doubt about that,

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Speaker 1: and it makes our job more challenging. But you've always

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Speaker 1: had to pay full prices for great growth companies. That's

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Speaker 1: not any different today than it's been in the past.

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Speaker 1: The key for us is actually discerning companies that really

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Speaker 1: can emerge as market leaders and secondarily are serving very

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Speaker 1: very large markets. And when you get that right, history

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Speaker 1: tells is you can get your investment turns even you're

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Speaker 1: paying a full valuation. That where you're get into trouble

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Speaker 1: as if companies that really, at the end of the

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Speaker 1: day are serving relatively small markets relative to the enterprise

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Speaker 1: value you're being asked to pay. All right, so let's

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Speaker 1: talk a little bit about the firm. As we said,

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Speaker 1: it goes all the way back to nineteen eighties, sort

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Speaker 1: of came out of a family office type situation. Duty

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Speaker 1: Free actually is underneath all of this right of fortune there. Yeah,

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Speaker 1: we have a we have a wonderful history that I

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Speaker 1: feel very fortunate to be part of. We were found

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Speaker 1: that in nineteen eighty by a man named Chuck Feeney

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Speaker 1: who was the founder of the duty Free shopper business

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Speaker 1: out of Cornell and actually built it into a very

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Speaker 1: successful company. And we were really formed to manage his

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Speaker 1: capital and between and we were a family office, and

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Speaker 1: he was our sole source of capital around. Chuck, who

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Speaker 1: really is the father of the giving pledge, gave all

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Speaker 1: of his wealthy at length philanthropies, who's really a special man,

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Speaker 1: has given away almost nine billion dollars to causes around

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Speaker 1: the world, including including here the Cornell Technico on campus

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Speaker 1: and out in San Francisco the Mission Bay Campus for

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Speaker 1: a University of San Francisco. All right, we're gonna get

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Speaker 1: to some of your philanthropy in just a minute with

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Speaker 1: talking some hoops. But before we get to that, you're

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Speaker 1: also involved in the Partnership for New York City a

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Speaker 1: very active voice. You're coheading it with j Bonga. I

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Speaker 1: believe you guys have been very involved, especially on the

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Speaker 1: back end of that decision by Amazon not to come

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Speaker 1: to New York City. Where do we stand on that?

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Speaker 1: Is that still a lot? Well? A J and I

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Speaker 1: and and with with Cathy Wilder heads of partnership have

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Speaker 1: really try to basically turn around Amazon's decision. We've stayed

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Speaker 1: engaged with both the local community or local politicians are governor,

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Speaker 1: as well as with Amazon to see if we can

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Speaker 1: turn this around. We're worried this sense a negative signal

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Speaker 1: the business globally about doing business here in New York

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Speaker 1: and it's it's uh. New York had had great momentum

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Speaker 1: UH in the tech space if you think about it.

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Speaker 1: You know, Facebook has a campus here, Google has a

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Speaker 1: campus here. We have our share of of leading companies

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Speaker 1: in for square space, Mango, dB and etc. Are are Unicorn, I,

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Speaker 1: p O S. So the space had momentum, and I

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Speaker 1: think adding Amazon would have only distinguished UH in New

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Speaker 1: York as a leader in technology also media. Given Amazon's

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Speaker 1: move into media, you know, New York is obviously a

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Speaker 1: great media hub. It would have been another, you know,

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Speaker 1: a catalyst for for the development there. So we hope

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Speaker 1: we can turn it around, and if we if we

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Speaker 1: aren't able to, we still want to send a really

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Speaker 1: strong signal to the global business community that New York

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Speaker 1: wants them to operate here, wants them to build their

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Speaker 1: business here. Do you feel like it's working so far?

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Speaker 1: They listening to you, how aged well, we're we're we're

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Speaker 1: we knew we have to elevate our voice and we

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Speaker 1: we've we have a great group of people who are

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Speaker 1: part of the partnership and we've come together and said

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Speaker 1: we need to be more active and more vocal. And

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Speaker 1: we need to engage our employees because actually when we did,

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Speaker 1: we did a survey in New York and seventy some

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Speaker 1: New Yorkers said they wanted Amazon to be here, and

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Speaker 1: we we we just aren't activating that voice loudly enough.

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Speaker 1: So that's something we need to do, all right. I

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Speaker 1: gotta talk some hoops. Brackets for a Cause. You've been

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Speaker 1: involved for the past years. You're a past winner. You

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Speaker 1: and Tillman Fritita split the prize a couple years ago.

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Speaker 1: You're in fifth place right now in some good company

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Speaker 1: back in the day. I believe you rode U n

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Speaker 1: C all the way. This year you've got Duke. A

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Speaker 1: lot of people have do how you feeling. I feel

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Speaker 1: great about Duke winning the whole thing. First of all,

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Speaker 1: it's one of my favorite times a year. Brackets for

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Speaker 1: a Cause of Bloomberg is is just terrific. It's now

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Speaker 1: what fifty four contestants is here and it's a it's

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Speaker 1: a great field. Congratulations to Dwight Anderson for getting sixteen

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Speaker 1: of the Sweet sixteen. Hard to believe that. I we

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Speaker 1: got our team got fifth out of sixteen, right and

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Speaker 1: we're hanging on to fifth place. So this is a

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Speaker 1: super competitive field this year. Uh, you know, we we

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Speaker 1: just think it's you know, coach k combined with probably

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Speaker 1: the best college basketball player in Zion and Williamson is

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Speaker 1: is hard to go against. And we think they've got

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Speaker 1: a good chance to win. And importantly, Shining Hope for Communities,

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Speaker 1: that's your charity again, tell us about what that is. Yeah,

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Speaker 1: Shining helps a terrific social service organization that runs girls

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Speaker 1: schools and some of the largest slums in the world,

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Speaker 1: which are in Nairobi, Kenya, and they've had an amazing impact.

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Speaker 1: In fact, they sent their first crop of of graduates

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Speaker 1: to college last year. So it's a wonderful organization. That's

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Speaker 1: where the proceeds went two years ago. And hopefully we

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Speaker 1: can we can get some money to him again this

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Speaker 1: year with a come from behind victory. So a group

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Speaker 1: effort to get this bracket together. You've got a good

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Speaker 1: teamwork and you've got we've got four four terrific associates

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Speaker 1: in General Atlantic. Each took one of the regions and

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Speaker 1: we used a private equity decision making style. Lots of

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Speaker 1: conference cause, lots of debate when we got to our

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Speaker 1: to get to our bracket. All right. That was Bill Ford.

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Speaker 1: He's a executive offer of General Atlantic, well known growth

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Speaker 1: equity fund. But as you heard there at the end,

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Speaker 1: what he's really focused on right now, what I was

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Speaker 1: very focused on with him, is talking about Brackets for

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Speaker 1: a Cause. That's our annual charity Brackets competition here at Bloomberg.

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Speaker 1: We got fifty four participants, including Bill Ford. UH going

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Speaker 1: at it and we'll get into the Sweet sixteen just

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Speaker 1: in a couple of days tomorrow actually, and Bill Ford

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Speaker 1: sitting in fifth place, looking pretty good. He and a

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Speaker 1: number of others have Duke going all the way. The

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Speaker 1: current leader is Dwight Anderson over at Osprey Management. He's

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Speaker 1: got North Carolina going all the way. He's he managed

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Speaker 1: to put together with his team a perfect Sweet sixteen,

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Speaker 1: so he's looking pretty pretty good. Gary Kohn, former UH

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Speaker 1: National Economic Advisor to President Trump, he's in the mix

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Speaker 1: there at the top in chin Chow has his own

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Speaker 1: firm now CC Capital, used to work over at Blackstone.

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Speaker 1: He's right up there as well. This is Bloomberg Business

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Speaker 1: Week with Carol Messer and Jason Kelly on Bloomberg Radio.

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Speaker 1: We're here live at Bloomberg Headquarters. And our next guest

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Speaker 1: is participating in a panel here at the Bloomberg Equality

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Speaker 1: Summit later on today. It's entitled Why Representation Matters. Will

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Speaker 1: Packer is film director, film director and producer founder of

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Speaker 1: Will Packer Productions. He's on site with us here at

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Speaker 1: the Equality Summit. Lives mostly in Atlanta. We've been talking

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Speaker 1: to him about it all the entertainment stuff that's going on. Um, Will, Hey, Hey,

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Speaker 1: thanks for having me. Guys. How are you so nice?

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Speaker 1: I'm doing well. I'm nice to have you here with

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Speaker 1: the there so you know, it's interesting. I just came

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Speaker 1: off of a lunch here at the Equality Summit with

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Speaker 1: CEOs and we're talking about the importance of diversity, and

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Speaker 1: one of the things that came up is they said

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Speaker 1: the way women and UM, African Americans and minorities and

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Speaker 1: l g P, d Q, LGBT community is representing it

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Speaker 1: in either media or in the entertainment world, that it's

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Speaker 1: got to get better. Yeah. But you know what it's

428
00:22:06,560 --> 00:22:09,440
Speaker 1: It's ultimately an economic decision. That's the thing that I

429
00:22:09,680 --> 00:22:13,240
Speaker 1: I say to people all the time. You know, Hollywood's

430
00:22:13,280 --> 00:22:16,760
Speaker 1: a business. I am a filmmaker, I'm a producer, I

431
00:22:16,800 --> 00:22:20,440
Speaker 1: am a businessman, and so what happens is that you

432
00:22:20,480 --> 00:22:22,680
Speaker 1: are seeing and I am an example of it. You're

433
00:22:22,680 --> 00:22:27,200
Speaker 1: seeing projects that um are more inclusionary, that have more

434
00:22:27,240 --> 00:22:31,320
Speaker 1: diverse voices, that have multiple entry points for audiences, that

435
00:22:31,359 --> 00:22:34,840
Speaker 1: look more like the global community. They're making more money

436
00:22:34,880 --> 00:22:39,080
Speaker 1: than ever before. And so it feels like, Uh, if

437
00:22:39,119 --> 00:22:43,439
Speaker 1: you have content that is not representative of the world,

438
00:22:43,480 --> 00:22:47,320
Speaker 1: it starts to feel dated. It starts to feel like, um,

439
00:22:47,480 --> 00:22:49,600
Speaker 1: something that's not as hip and as edgy and as

440
00:22:49,760 --> 00:22:52,360
Speaker 1: as as provocative and as of the moment. And that's

441
00:22:52,359 --> 00:22:54,840
Speaker 1: what audiences are gravitating to. So I teld people all

442
00:22:54,840 --> 00:22:57,720
Speaker 1: the time it's just good business. It's good business to

443
00:22:57,840 --> 00:23:00,199
Speaker 1: make sure that you've got content that feels like the

444
00:23:00,200 --> 00:23:01,840
Speaker 1: world we live in. Listen. I think we have some

445
00:23:01,920 --> 00:23:04,240
Speaker 1: examples for the past few years that you have worked on,

446
00:23:04,320 --> 00:23:07,399
Speaker 1: the point to Girls Trip being I think a great

447
00:23:07,480 --> 00:23:10,520
Speaker 1: example of that. I mean that, I think we'll look

448
00:23:10,560 --> 00:23:13,720
Speaker 1: back and and see that film, among a few others

449
00:23:13,720 --> 00:23:15,520
Speaker 1: over the last couple of years, whether it's Get Out,

450
00:23:15,520 --> 00:23:19,160
Speaker 1: whether it's Black Panther that really sort of open people's

451
00:23:19,200 --> 00:23:22,920
Speaker 1: eyes too. As you say, looks Listen, Economically, this makes

452
00:23:22,920 --> 00:23:24,360
Speaker 1: sense I want to get to an honest you want

453
00:23:24,359 --> 00:23:25,919
Speaker 1: to make some money. Here, you go, there, you go.

454
00:23:26,000 --> 00:23:28,679
Speaker 1: You make it for a particular number. You you you

455
00:23:28,720 --> 00:23:30,680
Speaker 1: aim at an audience, which is what we all do

456
00:23:30,760 --> 00:23:34,720
Speaker 1: is is uh filmmakers and content creators, and then you

457
00:23:34,800 --> 00:23:37,280
Speaker 1: expand beyond that core audience, right, And so why do

458
00:23:37,320 --> 00:23:39,600
Speaker 1: you think that particular movie resonated the way that it

459
00:23:39,880 --> 00:23:42,840
Speaker 1: Girl's Trip? But you know what, because it was it

460
00:23:42,880 --> 00:23:46,760
Speaker 1: was an inclusionary story. It was a universal theme. It

461
00:23:46,760 --> 00:23:48,840
Speaker 1: didn't feel exclusive. You didn't feel like, Okay, I'm not

462
00:23:48,880 --> 00:23:51,679
Speaker 1: even on the joke if I don't necessarily look like

463
00:23:51,840 --> 00:23:54,359
Speaker 1: the actors in it. Right. It was about you know,

464
00:23:54,480 --> 00:23:57,800
Speaker 1: four women behaving badly having fun on Bourbon Street. Who

465
00:23:57,800 --> 00:24:00,080
Speaker 1: hasn't done that? Right? I don't care what you look like,

466
00:24:00,200 --> 00:24:03,360
Speaker 1: you know, if everybody's smiling, and I don't know why

467
00:24:03,400 --> 00:24:07,160
Speaker 1: he just looked over to our producer. So listen. I

468
00:24:07,200 --> 00:24:10,119
Speaker 1: can tell that you value the platform that you have.

469
00:24:10,359 --> 00:24:14,080
Speaker 1: There's something that just debuted on Discovery and this is about, um,

470
00:24:14,119 --> 00:24:18,480
Speaker 1: the Atlanta Child Murders. Tell me about that, because you know,

471
00:24:18,760 --> 00:24:20,879
Speaker 1: you brought attention to something that didn't get a lot

472
00:24:20,880 --> 00:24:24,120
Speaker 1: of attention initially. Yeah, you know what, It's interesting because

473
00:24:24,560 --> 00:24:28,159
Speaker 1: UM I have made I've had a lot of successful comedies.

474
00:24:28,359 --> 00:24:32,040
Speaker 1: UM I've executive produced straight out of Compton and uh,

475
00:24:32,080 --> 00:24:36,080
Speaker 1: and some thrillers and nothing with this level of seriousness

476
00:24:36,080 --> 00:24:39,600
Speaker 1: and this and this this gravity. But I have a

477
00:24:39,680 --> 00:24:43,080
Speaker 1: responsibility to tell stories and choose with stories I tell.

478
00:24:43,119 --> 00:24:45,080
Speaker 1: And I said, I've got to tell this story because

479
00:24:45,080 --> 00:24:47,560
Speaker 1: so many people don't know it right. Some people do,

480
00:24:47,680 --> 00:24:50,520
Speaker 1: but by and large, it's not something that UM has

481
00:24:50,520 --> 00:24:52,560
Speaker 1: looked at as one of the great American tragedies, which

482
00:24:52,560 --> 00:24:54,800
Speaker 1: it really was. You had these you know, twenty three

483
00:24:54,880 --> 00:24:57,119
Speaker 1: kids who were murdered in Atlanta over the course of

484
00:24:57,160 --> 00:25:00,720
Speaker 1: a two year period, UM, and no body has been

485
00:25:00,720 --> 00:25:04,240
Speaker 1: tried for their murders. Uh. A person who was tried

486
00:25:04,400 --> 00:25:06,800
Speaker 1: was tried for other murders of two adults that happened

487
00:25:06,800 --> 00:25:09,000
Speaker 1: around that time, and then they closed all the cases

488
00:25:09,280 --> 00:25:10,480
Speaker 1: and a lot of people think it was for a

489
00:25:10,480 --> 00:25:12,680
Speaker 1: matter of convenience. So anyway, when I had the opportunity

490
00:25:12,960 --> 00:25:15,920
Speaker 1: to be a part of this, UM, I said, yeah, absolutely,

491
00:25:15,960 --> 00:25:17,960
Speaker 1: this is what I should be doing, is bringing a

492
00:25:18,000 --> 00:25:21,160
Speaker 1: platform to something like this. And it premiered on investigation

493
00:25:21,200 --> 00:25:25,040
Speaker 1: discovered this past weekend to very very huge numbers. I'm

494
00:25:25,160 --> 00:25:27,280
Speaker 1: very happy, but it speaks to a larger point, right

495
00:25:27,320 --> 00:25:30,399
Speaker 1: that people who have platforms, whether you're a CEO, whether

496
00:25:30,520 --> 00:25:33,320
Speaker 1: you're a president, whether you're a senator, whether you're a

497
00:25:33,320 --> 00:25:37,040
Speaker 1: producer in the entertainment industry, you do have a responsibility

498
00:25:37,080 --> 00:25:40,000
Speaker 1: to kind of push the conversation, get the real conversations

499
00:25:40,000 --> 00:25:42,560
Speaker 1: out there. I certainly think so. I mean, you know, listen,

500
00:25:42,600 --> 00:25:44,240
Speaker 1: at the end of the day, we all operate under

501
00:25:44,240 --> 00:25:46,760
Speaker 1: this economic comparative, and that's something that you cannot forget.

502
00:25:47,080 --> 00:25:50,960
Speaker 1: But there is a um this is this is a

503
00:25:51,359 --> 00:25:54,199
Speaker 1: this is a responsibility, right, This is a privilege to

504
00:25:54,280 --> 00:25:56,320
Speaker 1: do what we do and to be working in media

505
00:25:56,359 --> 00:25:58,840
Speaker 1: and to be you know, controlling what people consume, and

506
00:25:58,880 --> 00:26:00,920
Speaker 1: so you just have to be respond possible about that

507
00:26:01,040 --> 00:26:04,280
Speaker 1: and the narratives that you choose to push to the front. Alright,

508
00:26:04,320 --> 00:26:07,679
Speaker 1: thirty seconds, give us a little uh, let's let's finish

509
00:26:07,680 --> 00:26:09,680
Speaker 1: where we start with a shout out to the A

510
00:26:09,760 --> 00:26:14,840
Speaker 1: t L. So much happening down there. Why just Atlanta

511
00:26:14,880 --> 00:26:16,720
Speaker 1: has become I mean, you know, we call it on

512
00:26:16,800 --> 00:26:19,760
Speaker 1: location filming. It's the number one on location filming market

513
00:26:20,000 --> 00:26:21,840
Speaker 1: in the country right now, which you know it's like

514
00:26:21,920 --> 00:26:23,879
Speaker 1: excludes like stages and all that. But you know what,

515
00:26:24,000 --> 00:26:26,040
Speaker 1: because we've got a great tax and sent him down there,

516
00:26:26,400 --> 00:26:30,000
Speaker 1: and um, it is a place where if you look

517
00:26:30,040 --> 00:26:33,320
Speaker 1: at a like almost every third movie that is released

518
00:26:33,400 --> 00:26:36,200
Speaker 1: or television show, it's shan Atlanta. It's a great environment.

519
00:26:36,240 --> 00:26:38,600
Speaker 1: You know that, Jason were there. My next movie is

520
00:26:39,000 --> 00:26:41,240
Speaker 1: what's shot there. It's called Little Let's dropping on April twelve.

521
00:26:41,480 --> 00:26:51,800
Speaker 1: April twelve, and you've got like, thanks for having me, guys.

522
00:26:51,840 --> 00:26:55,879
Speaker 1: This an important conversation. I totally agree with. You know what,

523
00:26:56,000 --> 00:26:57,800
Speaker 1: given somebody like me a platform to talk about these

524
00:26:57,880 --> 00:26:59,760
Speaker 1: kind of thing, it was good Will Packer, you're the

525
00:26:59,800 --> 00:27:06,560
Speaker 1: bad Thanks so much. This is Bloomberg. Do you introduce

526
00:27:06,680 --> 00:27:12,120
Speaker 1: my firm? Actually you can. You can introduce your firm

527
00:27:12,200 --> 00:27:16,720
Speaker 1: right here, whether she's managing director ever Core Wealth Management,

528
00:27:17,640 --> 00:27:19,760
Speaker 1: got your firm right in there. She is here with this.

529
00:27:20,000 --> 00:27:22,600
Speaker 1: We're so delighted, Carol, because we're able to draw in

530
00:27:22,600 --> 00:27:25,360
Speaker 1: this amazing event that's going on upstairs. Both of you,

531
00:27:25,760 --> 00:27:27,080
Speaker 1: both you and I have been able to be a

532
00:27:27,119 --> 00:27:30,240
Speaker 1: part of it. Jill was participating in panel called the

533
00:27:30,280 --> 00:27:33,240
Speaker 1: Next Phase of the Me Too Movement here at the

534
00:27:33,240 --> 00:27:36,879
Speaker 1: Bloomberg Equality Summit. So, Jill, first of all, thanks so

535
00:27:36,960 --> 00:27:38,679
Speaker 1: much for joining us. It's my pleasure to be here.

536
00:27:38,760 --> 00:27:41,280
Speaker 1: Thank you. So where are we in this whole me

537
00:27:41,480 --> 00:27:44,480
Speaker 1: too conversation? Because this Carol said a couple of minutes ago,

538
00:27:44,720 --> 00:27:47,840
Speaker 1: where a year you're plus in? How would you describe

539
00:27:47,880 --> 00:27:51,400
Speaker 1: where we are? Well? From my perspective, I think it's

540
00:27:51,400 --> 00:27:56,000
Speaker 1: a very exciting time, especially for women. Uh. And as

541
00:27:56,040 --> 00:27:58,359
Speaker 1: we start to gain more power, as more women have

542
00:27:58,440 --> 00:28:03,840
Speaker 1: positions of power in business and have more wealth, change

543
00:28:03,880 --> 00:28:07,119
Speaker 1: is really starting to occur all the money basically right, Well,

544
00:28:07,200 --> 00:28:10,120
Speaker 1: it's an interesting statistic and you may have heard it,

545
00:28:10,160 --> 00:28:13,200
Speaker 1: but um, due to the fact that women get college

546
00:28:13,240 --> 00:28:17,480
Speaker 1: degrees that faster rates the men, So of undergraduates, uh,

547
00:28:17,600 --> 00:28:22,040
Speaker 1: degrees go to women. Of postgraduate degrees are granted to women. Wow.

548
00:28:24,680 --> 00:28:28,719
Speaker 1: Wives now already out earned their husbands. But as we

549
00:28:28,760 --> 00:28:31,480
Speaker 1: are getting educated faster, that number will be higher. It

550
00:28:31,480 --> 00:28:35,119
Speaker 1: will be above by the next generation. So we're not

551
00:28:35,160 --> 00:28:38,760
Speaker 1: only generating our own wealth, but we're also inheriting at

552
00:28:38,800 --> 00:28:42,320
Speaker 1: an unprecedented rate from our baby boomer parents. And the

553
00:28:42,360 --> 00:28:46,400
Speaker 1: fact that we outlive our husbands. Wives outlive husbands on

554
00:28:46,520 --> 00:28:49,840
Speaker 1: average fifteen years so that by the year twenty thirty,

555
00:28:50,000 --> 00:28:53,680
Speaker 1: women will have two thirds of the nation's wealth. So

556
00:28:53,720 --> 00:28:56,160
Speaker 1: what's it going to do to the financial industry? Well so,

557
00:28:56,760 --> 00:28:58,680
Speaker 1: or what are they doing to plan for that? There

558
00:28:58,720 --> 00:29:02,120
Speaker 1: you are, that's a great question. I work at Evercre

559
00:29:02,200 --> 00:29:06,240
Speaker 1: Wealth Management, which is a firm that has of their

560
00:29:06,280 --> 00:29:14,200
Speaker 1: senior professionals are women. It's a completely gender balanced firm.

561
00:29:14,320 --> 00:29:18,960
Speaker 1: And when I was interviewing with Jeff Mooreer, who's our CEO,

562
00:29:19,920 --> 00:29:22,240
Speaker 1: and he and I looked at his statistics. I said,

563
00:29:22,240 --> 00:29:27,120
Speaker 1: oh my gosh, you've got senior women. You've got um

564
00:29:28,280 --> 00:29:30,640
Speaker 1: the partners or women. You've got twice the industry average

565
00:29:30,800 --> 00:29:34,360
Speaker 1: of portfolio managers that are women. Was this by design

566
00:29:35,040 --> 00:29:37,560
Speaker 1: or was it dumb luck? And he just said, listen,

567
00:29:38,080 --> 00:29:41,479
Speaker 1: I just hired the best people for the jobs. And

568
00:29:41,600 --> 00:29:44,000
Speaker 1: that was such a rewarding thing to hear that. I

569
00:29:44,400 --> 00:29:46,360
Speaker 1: he had me at Hello and I wanted to join.

570
00:29:46,560 --> 00:29:48,720
Speaker 1: You know, it's interesting too. I keep going back to

571
00:29:48,760 --> 00:29:50,840
Speaker 1: this lunch I have with CEOs, and like, you know,

572
00:29:51,120 --> 00:29:53,320
Speaker 1: we don't have a problem if you walk into a

573
00:29:53,360 --> 00:29:56,840
Speaker 1: corporate border company and it's six men and women or

574
00:29:57,760 --> 00:30:01,640
Speaker 1: or whatever. But if we e skewed it the other way.

575
00:30:01,840 --> 00:30:04,600
Speaker 1: Somebody talked about an example where their management team was

576
00:30:04,640 --> 00:30:07,360
Speaker 1: predominantly women, and somebody was like, do anythink that's like

577
00:30:07,440 --> 00:30:09,680
Speaker 1: kind of sending a bad message? There's a problem with that, Like,

578
00:30:09,720 --> 00:30:12,080
Speaker 1: I do wonder when we can because like you're talking

579
00:30:12,080 --> 00:30:15,320
Speaker 1: about the amount of money that women will be making

580
00:30:15,320 --> 00:30:18,080
Speaker 1: in the future, probably managing and investing right there, every

581
00:30:18,160 --> 00:30:20,440
Speaker 1: money that they're making, Like it sounds like you should

582
00:30:20,840 --> 00:30:24,160
Speaker 1: even be skewing the numbers were favorable towards women. Well,

583
00:30:24,480 --> 00:30:28,200
Speaker 1: I've made the conscious decision and commitment to focus just

584
00:30:28,400 --> 00:30:35,000
Speaker 1: on predominantly on women clients, so they're executives, their entrepreneurs,

585
00:30:35,000 --> 00:30:39,200
Speaker 1: the philanthropists, and um. One of the questions in the

586
00:30:39,240 --> 00:30:42,360
Speaker 1: panel today was do you have mentors? How do you

587
00:30:42,400 --> 00:30:45,360
Speaker 1: find mentors as a woman on Wall Street? Well, first

588
00:30:45,400 --> 00:30:48,440
Speaker 1: of all, my my firm is diverse. But second of all,

589
00:30:48,720 --> 00:30:52,680
Speaker 1: these women who are my clients are outstanding, and as

590
00:30:52,760 --> 00:30:55,760
Speaker 1: much as I help them fill in their investment gaps,

591
00:30:56,480 --> 00:31:00,880
Speaker 1: they've become my mentors and friends. And because Wall Streets

592
00:31:00,960 --> 00:31:04,400
Speaker 1: built on trust, as they've come to trust me to

593
00:31:04,480 --> 00:31:09,240
Speaker 1: manage their money, then they've acted as sponsors for me

594
00:31:09,440 --> 00:31:13,600
Speaker 1: and they and then they recommend me to others putting

595
00:31:13,600 --> 00:31:16,800
Speaker 1: their reputations on the line. So fair to say that

596
00:31:16,920 --> 00:31:20,120
Speaker 1: it sounds like things are going well, trending well, trending right,

597
00:31:20,120 --> 00:31:23,440
Speaker 1: and even historically at your firm. Can't say the same

598
00:31:23,480 --> 00:31:25,920
Speaker 1: for a lot of the rest of Wall Street. Is

599
00:31:25,920 --> 00:31:30,200
Speaker 1: there reckoning coming? Is there some sort of flashpoint that

600
00:31:30,240 --> 00:31:34,640
Speaker 1: will help the rest of Wall Street catch up? I

601
00:31:34,640 --> 00:31:37,800
Speaker 1: can only speak forever core. What I have to say

602
00:31:37,880 --> 00:31:40,920
Speaker 1: to young women is that there are plenty of firms

603
00:31:40,960 --> 00:31:44,640
Speaker 1: like mine where the tide is turned, and look to

604
00:31:44,760 --> 00:31:47,520
Speaker 1: work for those places where it's lead from the top down,

605
00:31:47,560 --> 00:31:51,760
Speaker 1: where the culture is about equality, and where it's about

606
00:31:51,880 --> 00:31:55,280
Speaker 1: the outcome for the client. And in this case, many

607
00:31:55,360 --> 00:31:59,440
Speaker 1: of the clients are women. Um, it's interesting too. I

608
00:31:59,480 --> 00:32:01,760
Speaker 1: think before we got going, we're talking a little bit

609
00:32:01,800 --> 00:32:06,560
Speaker 1: about me too. Um, you know, what is your advice

610
00:32:06,840 --> 00:32:09,120
Speaker 1: to women in this environment? What is your advice to

611
00:32:09,240 --> 00:32:12,360
Speaker 1: men in this environment within the financial sector where we're

612
00:32:12,400 --> 00:32:15,080
Speaker 1: trying to kind of find our way through this and

613
00:32:15,160 --> 00:32:21,560
Speaker 1: not repeat mistakes, learn from the past year. You know,

614
00:32:21,680 --> 00:32:25,520
Speaker 1: I would just turn it back to we're working together

615
00:32:25,720 --> 00:32:28,560
Speaker 1: towards a new future all of us, and some of

616
00:32:28,640 --> 00:32:30,480
Speaker 1: us are looking at the future right now and saying

617
00:32:30,520 --> 00:32:34,240
Speaker 1: that's not the future I want. So it's about investing

618
00:32:34,240 --> 00:32:37,640
Speaker 1: with your values, putting your money to work, voting with

619
00:32:37,680 --> 00:32:41,560
Speaker 1: your wallet, investing in companies who are doing the right

620
00:32:41,600 --> 00:32:45,400
Speaker 1: things for their employees from a gender perspective, for the environment.

621
00:32:45,520 --> 00:32:50,680
Speaker 1: It's about really UM leading walking the talk. Jill fair

622
00:32:50,720 --> 00:32:53,840
Speaker 1: dey Lloyd is Managing director at ever Court Wealth Management,

623
00:32:53,840 --> 00:33:02,800
Speaker 1: on site with us at the Bloomberg Equality Summit. So

624
00:33:03,840 --> 00:33:07,360
Speaker 1: she is a survivor and she's twenty years old, and

625
00:33:07,440 --> 00:33:10,320
Speaker 1: she has lived through more than your average team. At

626
00:33:10,320 --> 00:33:14,000
Speaker 1: just fifteen years old, she was sexually assaulted at a

627
00:33:14,000 --> 00:33:17,000
Speaker 1: boarding school in New Hampshire. But she is strong and

628
00:33:17,080 --> 00:33:19,680
Speaker 1: she's written about it. She's an advocate. Her book is

629
00:33:19,720 --> 00:33:22,400
Speaker 1: I Have the Right to a High School Survivor's Story

630
00:33:22,480 --> 00:33:25,440
Speaker 1: of Sexual Assault, Justice and Hope. On site with us

631
00:33:25,440 --> 00:33:28,160
Speaker 1: here at the Bloomberg Equality Summit, along with her dad,

632
00:33:28,480 --> 00:33:31,239
Speaker 1: Alex Proud. He's head of International Advisory Services at now

633
00:33:31,320 --> 00:33:33,640
Speaker 1: Vene and vice chair of the I Have the Right

634
00:33:34,080 --> 00:33:37,400
Speaker 1: to Dot Org. So good to have you here with us,

635
00:33:37,440 --> 00:33:40,240
Speaker 1: and I really feel like the more we have these conversations,

636
00:33:40,280 --> 00:33:42,400
Speaker 1: the more we learn, and hopefully the better it gets.

637
00:33:42,600 --> 00:33:44,760
Speaker 1: UM it gets Alex and CHESSI thank you so much

638
00:33:44,800 --> 00:33:48,800
Speaker 1: for participating in our event and talking with us. UM.

639
00:33:48,880 --> 00:33:51,160
Speaker 1: Chessie tell us about how important it was for you

640
00:33:51,240 --> 00:33:53,400
Speaker 1: to tell your story. Well, first of all, thank you

641
00:33:53,440 --> 00:33:55,400
Speaker 1: so much for having us here today and for helping

642
00:33:55,440 --> 00:33:58,240
Speaker 1: to shed a light on such an important issue. UM,

643
00:33:58,280 --> 00:34:01,000
Speaker 1: I mean, for me, finding my voice was a process.

644
00:34:01,040 --> 00:34:03,480
Speaker 1: It was definitely a process. And UM, going through the

645
00:34:03,480 --> 00:34:06,280
Speaker 1: criminal justice system, I was supposed to be protected um

646
00:34:06,320 --> 00:34:08,360
Speaker 1: because I was a miner and I went through the

647
00:34:08,400 --> 00:34:12,520
Speaker 1: system as Jane Doe. UM. But throughout the trial and

648
00:34:12,719 --> 00:34:14,960
Speaker 1: UM following that, my name was leaked to the press,

649
00:34:15,080 --> 00:34:18,239
Speaker 1: was leaked on the Internet, and I kind of lost

650
00:34:18,239 --> 00:34:20,279
Speaker 1: control of my own narrative. I had lost control of

651
00:34:20,320 --> 00:34:23,160
Speaker 1: my own life again after losing control um during the

652
00:34:23,200 --> 00:34:27,120
Speaker 1: sexual assault itself. And so I wanted to regain that control,

653
00:34:27,239 --> 00:34:31,600
Speaker 1: regain control over my story to um, you know, kind

654
00:34:31,600 --> 00:34:33,840
Speaker 1: of make the internet a safer place for me again,

655
00:34:34,280 --> 00:34:37,759
Speaker 1: because the Internet was a place where hateful things were

656
00:34:37,800 --> 00:34:39,759
Speaker 1: being written about me and my family and about other

657
00:34:39,800 --> 00:34:42,080
Speaker 1: survivors too, and I wanted to be able to share

658
00:34:42,080 --> 00:34:45,440
Speaker 1: my story, tell my story from my perspective because it's

659
00:34:45,480 --> 00:34:49,040
Speaker 1: so important to hear these stories firsthand, And Alex, help

660
00:34:49,120 --> 00:34:53,360
Speaker 1: us understand how you help You, You and your wife

661
00:34:53,400 --> 00:34:55,920
Speaker 1: and and the rest of your family helped Chessie because

662
00:34:56,080 --> 00:34:59,040
Speaker 1: I know I can imagine you just wanted to protect

663
00:34:59,040 --> 00:35:02,239
Speaker 1: her um and yet you also wanted to empower her

664
00:35:02,800 --> 00:35:05,399
Speaker 1: to be able to tell this story and to help

665
00:35:05,440 --> 00:35:08,920
Speaker 1: other people. So help us understand that. Yeah, absolutely, I mean,

666
00:35:09,120 --> 00:35:13,120
Speaker 1: it was a process that obviously no one is prepared

667
00:35:13,200 --> 00:35:15,680
Speaker 1: for to to go through, and and there isn't sort

668
00:35:15,719 --> 00:35:18,240
Speaker 1: of a roadmap or a rule book that we can follow.

669
00:35:18,320 --> 00:35:20,719
Speaker 1: So we we had to learn as we went through

670
00:35:20,719 --> 00:35:23,359
Speaker 1: this process, and we were never sure if we were

671
00:35:23,400 --> 00:35:26,000
Speaker 1: making the right decisions, but we were always tried to

672
00:35:26,000 --> 00:35:29,799
Speaker 1: guide ourselves through looking after Chessie's well being and then

673
00:35:29,960 --> 00:35:32,880
Speaker 1: also making sure that this perpetrator did not do it

674
00:35:32,920 --> 00:35:36,280
Speaker 1: to anyone else, because the main reason Chessie decided to

675
00:35:36,320 --> 00:35:39,200
Speaker 1: come forth and speak up was because she didn't want

676
00:35:39,200 --> 00:35:41,319
Speaker 1: this young man to to do it to anyone else.

677
00:35:41,320 --> 00:35:42,440
Speaker 1: She had heard that he had done it to a

678
00:35:42,520 --> 00:35:45,160
Speaker 1: number of other girls on campus, and that really sort

679
00:35:45,200 --> 00:35:48,479
Speaker 1: of gave her the motivation to um take the risk

680
00:35:48,560 --> 00:35:51,920
Speaker 1: and and enter the criminal justice system. Do you feel

681
00:35:51,920 --> 00:35:55,440
Speaker 1: like Chessie. Things have gotten better. I mean, things are

682
00:35:55,440 --> 00:35:59,279
Speaker 1: definitely things are definitely changed, um, you know, but for

683
00:35:59,320 --> 00:36:02,560
Speaker 1: me personally after coming forward, um with my assault in

684
00:36:02,560 --> 00:36:06,319
Speaker 1: two thousand and fourteen. Um, it's interesting now looking back

685
00:36:06,360 --> 00:36:08,920
Speaker 1: at some of the girls who either ignored me or

686
00:36:08,920 --> 00:36:11,799
Speaker 1: even bullied me at school, blaming me for different things,

687
00:36:11,840 --> 00:36:14,719
Speaker 1: different changes at the school, and how they post on

688
00:36:14,760 --> 00:36:17,360
Speaker 1: Instagram about they support women's rights, they march in the

689
00:36:17,360 --> 00:36:20,360
Speaker 1: Women's March. I mean, there's such a public show of

690
00:36:20,400 --> 00:36:24,040
Speaker 1: support for survivors, but until we bring that support into

691
00:36:24,040 --> 00:36:27,440
Speaker 1: our private lives, it's not going to mean anything. Um.

692
00:36:27,520 --> 00:36:29,480
Speaker 1: You can march with as many signs as possible, but

693
00:36:29,520 --> 00:36:31,839
Speaker 1: it's until you talk to your friend, you tell them

694
00:36:31,840 --> 00:36:33,960
Speaker 1: you support them, tell them you believe them that it's

695
00:36:33,960 --> 00:36:35,640
Speaker 1: going to make a difference. Did you ever confront some

696
00:36:35,680 --> 00:36:40,759
Speaker 1: of those people afterwards? I know? I mean, I I

697
00:36:41,520 --> 00:36:44,240
Speaker 1: it's a acre is an important part of this journey

698
00:36:44,719 --> 00:36:46,839
Speaker 1: of itself, and I took up boxing to kind of

699
00:36:47,360 --> 00:36:50,920
Speaker 1: help with that during high school. And UM, I've definitely

700
00:36:50,920 --> 00:36:53,520
Speaker 1: found different ways to use my voice, use my energy

701
00:36:53,920 --> 00:36:56,359
Speaker 1: than to try to change people's minds, because that's not

702
00:36:56,400 --> 00:36:58,759
Speaker 1: my job. My job isn't to change people's minds about

703
00:36:58,920 --> 00:37:01,640
Speaker 1: change their opinions about actual assault. It's too you know,

704
00:37:01,680 --> 00:37:04,480
Speaker 1: tell my story, tell my truth, because that's the only

705
00:37:04,520 --> 00:37:07,000
Speaker 1: thing I'm really an expert on. So just I want

706
00:37:07,000 --> 00:37:10,200
Speaker 1: to ask you about last fall. The nation was riveted,

707
00:37:10,200 --> 00:37:13,640
Speaker 1: obviously by the Kavanaugh hearings. UM. You know, hearing a

708
00:37:13,640 --> 00:37:17,880
Speaker 1: survivor like yourself step forward, tell her story and face

709
00:37:18,080 --> 00:37:21,680
Speaker 1: a lot of the things that you described, disbelieve bullying

710
00:37:21,880 --> 00:37:27,200
Speaker 1: at an unbelievable level. How did you feel sort of

711
00:37:27,239 --> 00:37:30,040
Speaker 1: watching that and where do you think we are after

712
00:37:30,160 --> 00:37:33,719
Speaker 1: that experience as a country, as a people. I think

713
00:37:33,880 --> 00:37:38,360
Speaker 1: culturally there's definitely been a shift of support, but institutionally

714
00:37:38,360 --> 00:37:42,600
Speaker 1: and systematically there hasn't been much change in support of survivors. UM.

715
00:37:42,640 --> 00:37:44,880
Speaker 1: There have been so many brave survivors in their families

716
00:37:44,920 --> 00:37:48,160
Speaker 1: coming forward, helping to pass legislation. I mean, in New Hampshire,

717
00:37:48,280 --> 00:37:50,239
Speaker 1: just a couple I think a year ago they tried

718
00:37:50,280 --> 00:37:53,360
Speaker 1: to pass um Marcy's Law and it didn't. It didn't pass.

719
00:37:53,719 --> 00:37:56,040
Speaker 1: UM that would have allowed victims to have closer to

720
00:37:56,080 --> 00:37:59,680
Speaker 1: equal rights to perpetrators and coming forward. UM. So that

721
00:37:59,800 --> 00:38:01,839
Speaker 1: was really disappointing to see that not pass in New

722
00:38:01,840 --> 00:38:05,480
Speaker 1: Hampshire where my case was tried, UM. And I mean

723
00:38:05,719 --> 00:38:07,920
Speaker 1: it's I think it's just time for you know, adults.

724
00:38:07,960 --> 00:38:11,000
Speaker 1: And as I'm slowly becoming an adult, I mean, I'm

725
00:38:11,040 --> 00:38:12,600
Speaker 1: going to try to step up as much as I

726
00:38:12,600 --> 00:38:14,960
Speaker 1: can and try to use my education that I'm getting

727
00:38:14,960 --> 00:38:18,680
Speaker 1: now to help make life and life easier for survivors

728
00:38:18,680 --> 00:38:20,520
Speaker 1: in the future. And I do wonder about alex Rite

729
00:38:20,520 --> 00:38:23,359
Speaker 1: our roles as adults right in the conversations that you're

730
00:38:23,360 --> 00:38:26,279
Speaker 1: having with friends, with peers, with colleagues, how do you

731
00:38:26,320 --> 00:38:29,200
Speaker 1: tell this story to hopefully educate others and hopefully makes

732
00:38:29,200 --> 00:38:31,600
Speaker 1: some improvement here. Well, I joke around now that I'm

733
00:38:31,600 --> 00:38:34,520
Speaker 1: not a lot of fun at cocktail parties because I

734
00:38:34,640 --> 00:38:38,600
Speaker 1: use every opportunity when I'm meeting people to try to

735
00:38:38,680 --> 00:38:44,279
Speaker 1: raise awareness because we we faced remarkable ignorance UM and

736
00:38:44,360 --> 00:38:50,279
Speaker 1: also outright hostility and institutional complicity UM at schools and

737
00:38:50,440 --> 00:38:54,000
Speaker 1: in the workplace. And you know, so you know, Chessie

738
00:38:54,040 --> 00:38:57,080
Speaker 1: has created this our nonprofit I Have the Right to

739
00:38:57,200 --> 00:39:00,840
Speaker 1: my wife is really focused on education and earnest in

740
00:39:00,920 --> 00:39:03,960
Speaker 1: middle schools and high schools. And I'm trying to take

741
00:39:03,960 --> 00:39:07,759
Speaker 1: the messaging into the corporate space and UM under the

742
00:39:07,760 --> 00:39:11,359
Speaker 1: banner of how do we create a safe and supportive workplace. UM.

743
00:39:11,400 --> 00:39:13,239
Speaker 1: I've just joined a new firm, now Vene, and I

744
00:39:13,320 --> 00:39:17,400
Speaker 1: joined them because their their culture was was really a

745
00:39:17,480 --> 00:39:20,600
Speaker 1: strong one where the words had real sort of meaning

746
00:39:20,760 --> 00:39:22,879
Speaker 1: versus some of the other places I've I've worked at,

747
00:39:23,520 --> 00:39:26,719
Speaker 1: and because what's important for me obviously I'm sort of

748
00:39:26,719 --> 00:39:29,840
Speaker 1: a business builder. UM. But to do that, we need

749
00:39:29,920 --> 00:39:33,239
Speaker 1: to retain and keep our best talent, and we need

750
00:39:33,320 --> 00:39:35,359
Speaker 1: to have an environment where everyone feels like they can

751
00:39:35,400 --> 00:39:38,640
Speaker 1: reach their full potential. So, you know, I found that

752
00:39:38,719 --> 00:39:41,720
Speaker 1: the message that both Chessie and I can deliver really

753
00:39:41,760 --> 00:39:44,279
Speaker 1: resonates also in the corporate space. And we just want

754
00:39:44,280 --> 00:39:45,759
Speaker 1: to remind everybody. The name of the book is I

755
00:39:45,800 --> 00:39:48,880
Speaker 1: Have the Right to a high school, High school survivor's

756
00:39:48,920 --> 00:39:52,080
Speaker 1: story of sexual assault, justice and hope. UM do pick

757
00:39:52,120 --> 00:39:54,680
Speaker 1: it up. CHESSI prop thank you so much. Thank you

758
00:39:54,719 --> 00:39:57,640
Speaker 1: very great to talk with you, Alex. Really appreciate it,

759
00:39:57,640 --> 00:40:00,520
Speaker 1: and good luck with everything. You're listening to bloomber Business

760
00:40:00,600 --> 00:40:04,600
Speaker 1: Week with Carol Masser and Jason Kelly on Bloomberg Radio.

761
00:40:04,960 --> 00:40:08,440
Speaker 1: We are live at the Bloomberg Equality Summit one of

762
00:40:08,440 --> 00:40:09,960
Speaker 1: the guests that we got to talk to at the

763
00:40:10,000 --> 00:40:14,160
Speaker 1: summit um up on stage. I sat down with Slide James.

764
00:40:14,160 --> 00:40:17,080
Speaker 1: He's the mayor of Kansas City, just getting ready, uh

765
00:40:17,120 --> 00:40:19,399
Speaker 1: to wrap up his tenure as mayor, and he's been

766
00:40:19,400 --> 00:40:23,000
Speaker 1: working on a lot of programs to improve equality in

767
00:40:23,080 --> 00:40:27,000
Speaker 1: his city. Listen up. We've been very UH diligent and

768
00:40:27,080 --> 00:40:31,920
Speaker 1: intentional about skilling people up after the recession, trying to

769
00:40:31,960 --> 00:40:35,600
Speaker 1: get them into new areas of work. We've been very

770
00:40:35,680 --> 00:40:38,719
Speaker 1: intentional about trying to do some things in the community

771
00:40:38,760 --> 00:40:42,359
Speaker 1: that would generate jobs and economic activity. We've been very

772
00:40:42,400 --> 00:40:47,200
Speaker 1: intentional about putting money into the community in terms of infrastructure,

773
00:40:47,239 --> 00:40:51,480
Speaker 1: which would then allow businesses to come in and operate. UH.

774
00:40:51,520 --> 00:40:54,319
Speaker 1: And we've been very intentional about focusing on kids in

775
00:40:54,400 --> 00:40:57,360
Speaker 1: school and in the process of doing that, drawing parents

776
00:40:57,400 --> 00:41:00,560
Speaker 1: into that conversation, which has helped someone. This is about

777
00:41:00,600 --> 00:41:03,080
Speaker 1: high school diplomas. The percentage that obtained a high school

778
00:41:03,080 --> 00:41:06,399
Speaker 1: diploma or more, that too, has been going up since

779
00:41:06,440 --> 00:41:10,000
Speaker 1: the crisis. It's pretty impressive. It has it is impressive,

780
00:41:10,080 --> 00:41:13,240
Speaker 1: still short of where we need to be UM. And

781
00:41:13,239 --> 00:41:16,640
Speaker 1: and again, all of those numbers take into account the

782
00:41:16,680 --> 00:41:19,399
Speaker 1: performance of probably all of the school districts in whole

783
00:41:19,480 --> 00:41:21,560
Speaker 1: or in part. But if you put up just the

784
00:41:21,640 --> 00:41:25,480
Speaker 1: k CPS numbers, those numbers would be drastically lower. And

785
00:41:25,560 --> 00:41:29,440
Speaker 1: that's what bothers me. There's an an inequality in education

786
00:41:29,480 --> 00:41:32,239
Speaker 1: in this city and frankly in this entire country. One

787
00:41:32,239 --> 00:41:35,799
Speaker 1: of the things that isn't reflected here is the mobility

788
00:41:36,280 --> 00:41:40,000
Speaker 1: of African American and Latino children, which really does hurt

789
00:41:40,040 --> 00:41:45,120
Speaker 1: their academic performance. Another thing is the ridiculously biased suspension

790
00:41:45,400 --> 00:41:49,280
Speaker 1: and expulsion rate. Out of every one hundred African American

791
00:41:49,360 --> 00:41:54,319
Speaker 1: males in school, uh sixty suspensions for that. Now, some

792
00:41:54,360 --> 00:41:58,560
Speaker 1: of them are saying people multiple suspensions, but is crazy

793
00:41:58,680 --> 00:42:01,200
Speaker 1: when you also look at the fact that kids in

794
00:42:01,200 --> 00:42:06,640
Speaker 1: in pre pre case institutions are being suspended. How the

795
00:42:06,760 --> 00:42:10,960
Speaker 1: heck do you get suspended from pre K? I mean seriously,

796
00:42:11,840 --> 00:42:15,720
Speaker 1: to me, that's like duh. So how do you fix

797
00:42:15,920 --> 00:42:19,360
Speaker 1: how do you I mean, that's a lot left or side?

798
00:42:19,760 --> 00:42:22,279
Speaker 1: How do you deal with some of that? Well? Have

799
00:42:22,400 --> 00:42:24,840
Speaker 1: you been able to make a difference? Well, we focused

800
00:42:24,840 --> 00:42:28,000
Speaker 1: on equity and we focused on trying well. One of

801
00:42:28,040 --> 00:42:30,799
Speaker 1: the things we were in the middle of a race

802
00:42:30,880 --> 00:42:34,680
Speaker 1: and inequality series. Now the first session that we had

803
00:42:34,800 --> 00:42:37,759
Speaker 1: was starting the conversation, and by that we had to

804
00:42:37,800 --> 00:42:40,959
Speaker 1: get everybody to understand the terms that we were being used.

805
00:42:41,160 --> 00:42:43,719
Speaker 1: Because if I asked people out here what's racism, I

806
00:42:43,800 --> 00:42:47,200
Speaker 1: probably get a hundred different answers. But before you can

807
00:42:47,239 --> 00:42:50,320
Speaker 1: have a reasonable conversation, we have to agree on some basics.

808
00:42:50,680 --> 00:42:53,640
Speaker 1: So we started that conversation into the process of starting

809
00:42:53,680 --> 00:42:57,000
Speaker 1: that conversation and bringing the community into that conversation, and

810
00:42:57,120 --> 00:43:00,120
Speaker 1: the two subsequent ones then we have been able to

811
00:43:00,160 --> 00:43:03,359
Speaker 1: talk about that. But we also had suspension summits where

812
00:43:03,400 --> 00:43:07,160
Speaker 1: we brought in educators and and interested parties, and we're

813
00:43:07,160 --> 00:43:09,239
Speaker 1: gonna have another. We had it two years ago. We're

814
00:43:09,239 --> 00:43:11,200
Speaker 1: going to have another one. Dismay has it changed the

815
00:43:11,280 --> 00:43:15,960
Speaker 1: numbers is not getting expelled anymore that we we believe

816
00:43:16,040 --> 00:43:19,520
Speaker 1: there's a anecdotal We believe there's anecdotal evidence to indicate

817
00:43:19,560 --> 00:43:22,440
Speaker 1: that has been better. But we're getting the numbers. We're

818
00:43:22,440 --> 00:43:24,239
Speaker 1: gonna have a follow up in May and we're gonna

819
00:43:24,239 --> 00:43:26,720
Speaker 1: look at that data and have another conference at that time.

820
00:43:27,360 --> 00:43:32,000
Speaker 1: We've had mobility conferences. We've worked with parents to UH

821
00:43:32,160 --> 00:43:35,239
Speaker 1: to empower parents UH and get them engaged so that

822
00:43:35,280 --> 00:43:37,880
Speaker 1: they can be advocates for their stakeholders. In other words,

823
00:43:38,160 --> 00:43:42,000
Speaker 1: he got to you, I mean everything's connected. Everything's connected.

824
00:43:42,040 --> 00:43:48,440
Speaker 1: That's why pre K so important. So that was Carol's

825
00:43:48,560 --> 00:43:53,239
Speaker 1: conversation with Slide James. He's the mayor of Kansas City. Uh,

826
00:43:53,480 --> 00:43:56,160
Speaker 1: that's a tough job. It's a tough job, man. He

827
00:43:56,239 --> 00:43:59,080
Speaker 1: went in and he was really working on They have

828
00:43:59,120 --> 00:44:01,400
Speaker 1: a lot of violence and they have kind of lacks

829
00:44:01,440 --> 00:44:03,160
Speaker 1: gun laws. So you've got to trap that down. And

830
00:44:03,280 --> 00:44:05,680
Speaker 1: you know what's really important. I thought we threw up

831
00:44:05,680 --> 00:44:07,080
Speaker 1: some charts too, and he said, you know, you really

832
00:44:07,080 --> 00:44:11,280
Speaker 1: have to break this down, um, black versus white, because

833
00:44:11,600 --> 00:44:14,600
Speaker 1: you really do see the discrepancies and there's real dividing

834
00:44:14,640 --> 00:44:17,200
Speaker 1: lines at some of these cities. Trust Avenue is a

835
00:44:17,239 --> 00:44:19,439
Speaker 1: place that he's really trying to work in. If you're

836
00:44:19,480 --> 00:44:21,319
Speaker 1: born on the east side, it meant one thing. If

837
00:44:21,320 --> 00:44:23,359
Speaker 1: you're born on the west side, and they're really trying

838
00:44:23,360 --> 00:44:25,000
Speaker 1: to break that down. But some of this is so

839
00:44:25,160 --> 00:44:28,520
Speaker 1: ingrained in the history of these cities. It's not easy.

840
00:44:28,600 --> 00:44:31,120
Speaker 1: But he did stress over and over again the importance

841
00:44:31,160 --> 00:44:34,759
Speaker 1: of education early on reading. Uh, he's made some big

842
00:44:34,760 --> 00:44:38,520
Speaker 1: improvements on that in terms in terms of upping um.

843
00:44:38,560 --> 00:44:40,440
Speaker 1: You know, the amount of reading that's going on, the

844
00:44:40,440 --> 00:44:44,080
Speaker 1: comprehension levels, big improvement in fact. But he says education

845
00:44:44,560 --> 00:44:46,960
Speaker 1: makes a huge difference in the lives of people at

846
00:44:46,960 --> 00:44:49,640
Speaker 1: that point. About kindergarten, what's really interesting and you know

847
00:44:49,719 --> 00:44:51,680
Speaker 1: one of the things that we certainly have learned about it.

848
00:44:51,680 --> 00:44:53,280
Speaker 1: You know, we just caught up with the mayor of Charlotte,

849
00:44:53,520 --> 00:44:56,279
Speaker 1: uh last week. You know, these local leaders, they do

850
00:44:56,480 --> 00:45:00,439
Speaker 1: have a huge amount of impact if they and get

851
00:45:00,480 --> 00:45:03,040
Speaker 1: it right, you know, they can really move the needle

852
00:45:03,080 --> 00:45:05,440
Speaker 1: and things. I mean, I remember talking to Mitch Landrew,

853
00:45:05,560 --> 00:45:08,360
Speaker 1: the then mayor of New Orleans, you know, back in

854
00:45:08,400 --> 00:45:09,719
Speaker 1: the day. He said, you know, the thing about a

855
00:45:09,760 --> 00:45:12,560
Speaker 1: mayor being a mayor is it's not like being in

856
00:45:12,600 --> 00:45:15,399
Speaker 1: Washington where you're sort of separated from your constituency. You're

857
00:45:15,440 --> 00:45:17,319
Speaker 1: walking to the office every day and you're seeing the

858
00:45:17,360 --> 00:45:19,680
Speaker 1: problems and listen, they're telling you about them, right, they're

859
00:45:19,680 --> 00:45:21,680
Speaker 1: not bashful. And Mary James talked about that a lot.

860
00:45:21,719 --> 00:45:23,440
Speaker 1: He said, you know, one of the big things too,

861
00:45:23,440 --> 00:45:24,800
Speaker 1: is you gotta get out there. You've got to be

862
00:45:24,840 --> 00:45:26,560
Speaker 1: talking to the people. You can't be hide me in

863
00:45:26,600 --> 00:45:28,759
Speaker 1: your office. You've got to see what's going on and

864
00:45:28,760 --> 00:45:31,839
Speaker 1: really understand the problems firsthand. If you want to make

865
00:45:31,920 --> 00:45:36,120
Speaker 1: some kind of significant difference, So it takes, you know, equality,

866
00:45:36,160 --> 00:45:38,520
Speaker 1: This is the Summit. It's at all levels, from the

867
00:45:38,600 --> 00:45:43,080
Speaker 1: CEO on Dawn or from individuals. I just think of

868
00:45:43,360 --> 00:45:46,080
Speaker 1: Chessie Proston, who we just had on UM. You know,

869
00:45:46,320 --> 00:45:49,160
Speaker 1: she's making a difference, she's telling her story and that's

870
00:45:49,160 --> 00:45:53,440
Speaker 1: helping others. This is Bloomberg Business Week with Carol Masser

871
00:45:53,560 --> 00:45:57,439
Speaker 1: and Jason Kelly on Bloomberg Radio. I started the day

872
00:45:57,640 --> 00:46:01,160
Speaker 1: speaking with John Winkleried. He's the co CEO of TPG

873
00:46:01,760 --> 00:46:05,200
Speaker 1: based out in San Francisco. He was here in New York,

874
00:46:05,440 --> 00:46:10,560
Speaker 1: and I started off the conversation asking Carol about what

875
00:46:10,760 --> 00:46:14,359
Speaker 1: happened and what the fallout was from the firing of

876
00:46:14,640 --> 00:46:20,600
Speaker 1: TPG Growth and TPG Rise founder Bill McGlashen Well, I think, um,

877
00:46:20,640 --> 00:46:23,479
Speaker 1: a couple of weeks ago, when this news first broke,

878
00:46:23,640 --> 00:46:26,240
Speaker 1: it was a as you might imagine, it was pretty shocking.

879
00:46:26,320 --> 00:46:30,240
Speaker 1: I mean, this is something that we had no knowledge

880
00:46:30,239 --> 00:46:34,600
Speaker 1: of or had no idea this was all happening. And UM,

881
00:46:34,680 --> 00:46:37,040
Speaker 1: so anytime something like this happens, you know, you sort

882
00:46:37,040 --> 00:46:39,799
Speaker 1: of takes your breath away for a minute. UM. But

883
00:46:39,960 --> 00:46:42,799
Speaker 1: we UM, you know, we reacted as you described. I mean,

884
00:46:42,840 --> 00:46:45,400
Speaker 1: we tried to react, you know, pretty in a pretty

885
00:46:45,400 --> 00:46:48,400
Speaker 1: focused way. And UM. One of the things that I

886
00:46:48,400 --> 00:46:51,040
Speaker 1: think we felt it was really important to do was

887
00:46:51,120 --> 00:46:53,600
Speaker 1: to make sure that we were communicating, and so we

888
00:46:53,640 --> 00:46:56,200
Speaker 1: went out to all of our stakeholders. And by the way,

889
00:46:56,239 --> 00:46:59,600
Speaker 1: that's both both externally in terms of our investors r

890
00:46:59,719 --> 00:47:02,759
Speaker 1: LP and also internally because this is obviously a very

891
00:47:02,800 --> 00:47:06,239
Speaker 1: important thing internally as well with all our people. But

892
00:47:06,280 --> 00:47:10,000
Speaker 1: our investors, I would say overall number one are very supportive,

893
00:47:10,360 --> 00:47:15,840
Speaker 1: UM and UM. They obviously understood the context that unfortunately

894
00:47:15,920 --> 00:47:21,120
Speaker 1: Bill was engaged in this scheme UM on a personal basis. UM,

895
00:47:21,200 --> 00:47:23,480
Speaker 1: and so our investors, number one, we're very supportive. Our

896
00:47:23,520 --> 00:47:27,120
Speaker 1: investors understand what we're trying to accomplish as a firm

897
00:47:27,200 --> 00:47:29,239
Speaker 1: with respect to the franchise that Bill was part of,

898
00:47:29,239 --> 00:47:31,799
Speaker 1: which is our growth equity franchise and also importantly our

899
00:47:31,840 --> 00:47:34,640
Speaker 1: impact franchise, which obviously has a lot to do with

900
00:47:34,680 --> 00:47:38,920
Speaker 1: why we're here today, UM and UM. And but naturally

901
00:47:39,000 --> 00:47:40,960
Speaker 1: have a lot of questions. They have a lot of questions,

902
00:47:41,120 --> 00:47:45,239
Speaker 1: UM and UM, and so what we've committed to our

903
00:47:45,280 --> 00:47:49,400
Speaker 1: investors is that we're uh. We we've undertaken an investigation

904
00:47:49,440 --> 00:47:52,120
Speaker 1: internally to make sure that none of the things that

905
00:47:52,160 --> 00:47:54,200
Speaker 1: Bill was engaged and were in any way, shape or

906
00:47:54,200 --> 00:47:57,480
Speaker 1: form bleeding into the business. UM. We owe that to

907
00:47:57,560 --> 00:48:00,600
Speaker 1: our investors, and so we're working on that. UM. We're

908
00:48:00,600 --> 00:48:02,680
Speaker 1: gonna go back to them and give them a readout

909
00:48:02,760 --> 00:48:04,480
Speaker 1: when we're done with that and when we finished with

910
00:48:04,520 --> 00:48:09,120
Speaker 1: all of our work. UH and UH And importantly also,

911
00:48:09,320 --> 00:48:11,680
Speaker 1: I think our investors understand that you know, our growth

912
00:48:11,680 --> 00:48:15,160
Speaker 1: and our rise Impact franchise. You know, we're talking about

913
00:48:15,200 --> 00:48:19,080
Speaker 1: a hundred people, a hundred plus people. We have a deep,

914
00:48:19,360 --> 00:48:23,920
Speaker 1: broad team. UM, we have our our impact fund is

915
00:48:23,960 --> 00:48:28,000
Speaker 1: now made close to thirty investments over about a billion

916
00:48:28,080 --> 00:48:30,879
Speaker 1: one of capital UM. And so when you actually look

917
00:48:30,880 --> 00:48:33,080
Speaker 1: at the companies we've invested in and the work these

918
00:48:33,120 --> 00:48:35,680
Speaker 1: companies are doing, I think they all realized that there

919
00:48:35,719 --> 00:48:38,839
Speaker 1: is a bigger there's something bigger here than just one individual.

920
00:48:39,160 --> 00:48:42,960
Speaker 1: So they're very constructive the you reference giving you know,

921
00:48:43,120 --> 00:48:46,520
Speaker 1: us allowing them to take their money back. What we did,

922
00:48:46,840 --> 00:48:49,719
Speaker 1: what we were in process, we were beginning to raise

923
00:48:49,760 --> 00:48:52,279
Speaker 1: the second fun so we had some we had done

924
00:48:52,280 --> 00:48:55,720
Speaker 1: a first close and we went back to our investors instead.

925
00:48:55,719 --> 00:49:00,000
Speaker 1: Of course, you'll have an opportunity to reevaluate. UM and so, um,

926
00:49:00,000 --> 00:49:03,640
Speaker 1: everybody is comfortable with where we are right now. We'll

927
00:49:03,640 --> 00:49:06,040
Speaker 1: have a read out ultimately of the of of of

928
00:49:06,280 --> 00:49:09,200
Speaker 1: our internal work, and you know, then we'll go forward

929
00:49:09,239 --> 00:49:12,000
Speaker 1: from there. So Carol. Later on in the conversation with

930
00:49:12,080 --> 00:49:15,759
Speaker 1: John Winkle Reed at TPG, he's the co CEO over there.

931
00:49:15,760 --> 00:49:17,600
Speaker 1: He worked at Goldman Sacks before, so he has an

932
00:49:17,600 --> 00:49:22,520
Speaker 1: interesting lens for this. We talked about the fact that

933
00:49:22,680 --> 00:49:27,319
Speaker 1: private equity has a distinct lack of diversity. I think

934
00:49:27,360 --> 00:49:29,080
Speaker 1: it's fair to say, I don't think anyone in this

935
00:49:29,160 --> 00:49:32,080
Speaker 1: room would disagree. This is not something private equity has

936
00:49:32,120 --> 00:49:37,360
Speaker 1: been good at. It has been really white, it's been male,

937
00:49:38,200 --> 00:49:46,359
Speaker 1: it's been bros. So bros bros. Um. So why first

938
00:49:46,360 --> 00:49:50,200
Speaker 1: of all, I mean briefly, why and and second do

939
00:49:50,280 --> 00:49:55,520
Speaker 1: you have a legitimate shot at changing that narrative quickly? Well? Um?

940
00:49:56,239 --> 00:50:01,839
Speaker 1: First of all, why is because um, I think, Well,

941
00:50:01,880 --> 00:50:04,279
Speaker 1: first of all, it's important to me, UM. I think

942
00:50:04,320 --> 00:50:07,280
Speaker 1: that when you when you are part of an organization,

943
00:50:07,320 --> 00:50:08,760
Speaker 1: and I learned this a little bit in my past

944
00:50:08,840 --> 00:50:11,279
Speaker 1: organization at Golden Sacks. I mean when you're part of

945
00:50:11,280 --> 00:50:20,279
Speaker 1: an organization that is white, bro homogeneous, you know, and

946
00:50:20,320 --> 00:50:22,960
Speaker 1: then you're then you have a set of experiences where

947
00:50:23,000 --> 00:50:26,160
Speaker 1: you kind of get out of that that kind of

948
00:50:28,000 --> 00:50:31,600
Speaker 1: that that atmosphere, you realize the difference. You realize the

949
00:50:31,719 --> 00:50:35,239
Speaker 1: richness of being in a much more heterogeneous environment. You

950
00:50:35,320 --> 00:50:37,920
Speaker 1: realize the richness of having a bunch of different type

951
00:50:37,920 --> 00:50:41,960
Speaker 1: of people sitting around. UM. Some some of it's some

952
00:50:42,040 --> 00:50:44,400
Speaker 1: of it's subtle, but some of it's not that subtle, okay,

953
00:50:44,440 --> 00:50:48,600
Speaker 1: in terms of UM, the idea flow, UM, who you

954
00:50:48,640 --> 00:50:53,399
Speaker 1: connect with externally, UM, you know, and again going back

955
00:50:53,400 --> 00:50:57,200
Speaker 1: to kind of what you stand for. So I feel

956
00:50:57,200 --> 00:51:00,319
Speaker 1: like it makes you a much better, much richer, much

957
00:51:00,320 --> 00:51:03,799
Speaker 1: more interesting organization and your ability in our in our

958
00:51:03,840 --> 00:51:07,279
Speaker 1: world where you're trying to actually invest in companies you're

959
00:51:07,280 --> 00:51:09,799
Speaker 1: trying to you're trying to relate to and connect to

960
00:51:09,880 --> 00:51:12,359
Speaker 1: ceo s or you're trying to relate to that are

961
00:51:12,440 --> 00:51:15,359
Speaker 1: running other companies. You're trying to relate to companies that

962
00:51:15,640 --> 00:51:19,920
Speaker 1: are prosecuting businesses where they're dealing in a diverse world.

963
00:51:20,440 --> 00:51:23,720
Speaker 1: I think having an understanding of for that, having having

964
00:51:23,800 --> 00:51:27,000
Speaker 1: a connection in some way, shape or form, because your

965
00:51:27,080 --> 00:51:30,160
Speaker 1: organization is trying to do some of the same things.

966
00:51:30,640 --> 00:51:33,399
Speaker 1: To me, that's a very important thing. So I think

967
00:51:33,560 --> 00:51:36,120
Speaker 1: that so just kind of level setting. I think it's

968
00:51:36,200 --> 00:51:39,799
Speaker 1: very important in that respect. That is a piece of

969
00:51:39,840 --> 00:51:43,279
Speaker 1: my conversation with John winkelried co CEO of TPG. You

970
00:51:43,280 --> 00:51:46,600
Speaker 1: can get the whole thing on Bloomberg dot com. He

971
00:51:46,680 --> 00:51:49,320
Speaker 1: was pretty frank, I think so right, that whole college

972
00:51:49,320 --> 00:51:52,520
Speaker 1: admission scandal, right, and to have to you know, that

973
00:51:52,600 --> 00:51:54,040
Speaker 1: just came out what a couple of weeks ago, is it?

974
00:51:54,600 --> 00:51:56,000
Speaker 1: And to hear what he had to you know what,

975
00:51:56,520 --> 00:51:58,480
Speaker 1: this was somebody who was an important member of their firm,

976
00:51:58,800 --> 00:52:00,520
Speaker 1: and they dealt with it very quick. You and I've

977
00:52:00,560 --> 00:52:02,799
Speaker 1: talked about this. That they got got out ahead of

978
00:52:02,800 --> 00:52:06,759
Speaker 1: it as fast as they did um and reached out

979
00:52:06,760 --> 00:52:10,640
Speaker 1: to their investors, dealt with their internal controls at their firm.

980
00:52:10,960 --> 00:52:13,000
Speaker 1: It's really impressive. That'll be interesting to see what this

981
00:52:13,040 --> 00:52:16,600
Speaker 1: investigation turns up and what that read out to their investors. Says. Meanwhile,

982
00:52:16,760 --> 00:52:20,160
Speaker 1: Bill mcglash and the partner implicated uh in this is

983
00:52:20,200 --> 00:52:22,239
Speaker 1: starting to lay out his defense. Another story in the

984
00:52:22,239 --> 00:52:25,919
Speaker 1: Bloomberg talking about how he is denying using uh this

985
00:52:26,080 --> 00:52:28,880
Speaker 1: side door. There's a lot of evidence that's been released

986
00:52:28,880 --> 00:52:33,480
Speaker 1: and wire taps and others, transcripts of conversations, so we'll see.

987
00:52:33,760 --> 00:52:36,080
Speaker 1: We're told that he is said to be arranged uh

988
00:52:36,280 --> 00:52:38,960
Speaker 1: later this week in Boston. But I just think it's

989
00:52:38,960 --> 00:52:41,560
Speaker 1: an important story. Here we are at the Bloomberg Equality Summit, right,

990
00:52:41,560 --> 00:52:45,759
Speaker 1: we're talking about the importance of inclusion, diversity, um, you know,

991
00:52:45,800 --> 00:52:48,520
Speaker 1: on all different levels, whether it's race, whether it's gender,

992
00:52:48,880 --> 00:52:51,520
Speaker 1: whether it's economic. And you know, here you have that

993
00:52:51,560 --> 00:52:56,240
Speaker 1: college admission scandal, scandal reminding everybody that's sometimes the wealthy

994
00:52:56,400 --> 00:52:58,080
Speaker 1: have an edge on things like this and kind of

995
00:52:58,400 --> 00:53:01,160
Speaker 1: right in our face. It was upsetting, to say the least.

996
00:53:01,280 --> 00:53:03,960
Speaker 1: Thanks for listening to Bloomberg Business Week. You can subscribe

997
00:53:04,000 --> 00:53:06,879
Speaker 1: to the podcast on iTunes, SoundCloud, or Bloomberg dot com.

998
00:53:07,080 --> 00:53:09,480
Speaker 1: You can also listen to our radio show every weekday

999
00:53:09,520 --> 00:53:11,960
Speaker 1: at two pm Eastern only on Bloomberg Radio