WEBVTT - Inside Operation Warp Speed 0:00:00.240 --> 0:00:03.280 This is Bloomberg Business Week. I'm Carol Masser. Every day 0:00:03.279 --> 0:00:05.200 we're bringing you the latest news from the world's of 0:00:05.200 --> 0:00:08.920 business and finance, plus technology, politics. So much going on 0:00:08.960 --> 0:00:12.160 in the world of politics, economics, and it's all harnessing 0:00:12.160 --> 0:00:14.840 the power of Business Week reporters and editors. If you 0:00:14.840 --> 0:00:18.280 can download Bloomberg Business Week on iTunes, SoundCloud, or Bloomberg 0:00:18.320 --> 0:00:20.480 dot com. If you can also listen to our radio 0:00:20.560 --> 0:00:23.439 show at two pm Eastern on Bloomberg Radio and be 0:00:23.440 --> 0:00:26.280 sure to watch us too on YouTube by searching Bloomberg 0:00:26.360 --> 0:00:29.160 Global News. Well, Kayleie, we've got a lot of headlines 0:00:29.280 --> 0:00:32.080 right when it comes to the virus. Today, the ECB 0:00:32.200 --> 0:00:35.360 coming out and they kind of indicated Christine Lagarde that 0:00:35.400 --> 0:00:38.400 there could be some more stimulus coming because of rising 0:00:38.479 --> 0:00:41.560 infections and more lockdowns. We did have the U S 0:00:41.600 --> 0:00:44.080 economy bounce back, but as we heard from Elena, you know, 0:00:44.080 --> 0:00:46.640 everybody's kind of cautioning that, you know, we're still amid 0:00:46.920 --> 0:00:49.440 the virus and still kind of waiting on some more stimulus. 0:00:49.560 --> 0:00:51.280 I want to throw out one number, the Institute for 0:00:51.320 --> 0:00:55.000 Health Metrics and Evaluation. It's a pretty influential modeling group. 0:00:55.160 --> 0:00:58.240 They projected a higher US death toll about four hundred 0:00:58.320 --> 0:01:01.360 five thousand COVID nineteen foot palities and that is by 0:01:01.360 --> 0:01:04.480 February first, So uh yeah, we feel like we definitely 0:01:04.520 --> 0:01:07.600 feel like a second wave here. Dr Cyber Klein is 0:01:07.640 --> 0:01:11.160 Professor of molecular microbiology and Immunology at the Johns Hopkins 0:01:11.200 --> 0:01:15.200 Bloomberg School of Public Health. Her research really focuses on 0:01:15.240 --> 0:01:18.200 how males and females differ in their immune responses to 0:01:18.319 --> 0:01:21.640 viral infection and vaccination. The Johns Hopkins Bloomberg School of 0:01:21.680 --> 0:01:24.399 Public Health, of course supported by Michael R. Bloomberg, founder 0:01:24.440 --> 0:01:28.199 Bloomberg LP and Bloomberg Philanthropies. Dr Klein on the phone 0:01:28.240 --> 0:01:31.160 in Baltimore. Dr Klein, great to have you here with 0:01:31.280 --> 0:01:35.640 Kelly and myself. So you see these virus heads that 0:01:35.680 --> 0:01:38.720 are coming out. Is it a second wave? Is it 0:01:38.800 --> 0:01:42.000 a third wave? What are your expectations for the coming 0:01:42.080 --> 0:01:46.400 months around the globe and here specifically in the United States? Well, 0:01:46.480 --> 0:01:49.800 thank you. Um, I think we are in the midst 0:01:49.880 --> 0:01:54.200 of seeing the second wave hit, and it's it's likely 0:01:54.200 --> 0:01:56.960 going to be a tough time that we're going to 0:01:57.040 --> 0:02:01.120 experience as we all move indoors. Um and and I 0:02:01.160 --> 0:02:04.600 think the combination of moving indoors where air circulation is 0:02:04.600 --> 0:02:07.720 obviously not as good as when we can all be outdoors, 0:02:08.200 --> 0:02:12.200 combined with pandemic fatigue which has been setting in and 0:02:12.440 --> 0:02:14.960 especially as we enter into the holidays and people want 0:02:15.000 --> 0:02:18.080 to be with families UM, and we're going to see 0:02:18.200 --> 0:02:22.280 more movement of people, UM, which will contribute to increasing 0:02:22.320 --> 0:02:25.680 the likelihood of exposures right well, and sober I just 0:02:25.800 --> 0:02:28.920 look at Europe countries like Germany and France going back 0:02:28.960 --> 0:02:32.840 to these restrictive measures because cases are so high, and 0:02:32.880 --> 0:02:34.840 I think back to the first wave of the virus 0:02:34.840 --> 0:02:36.880 in the spring, Europe was ahead of us here in 0:02:36.919 --> 0:02:39.000 the US, and then it hit us about six to 0:02:39.040 --> 0:02:41.079 eight weeks later. I mean, is that what we're heading for? 0:02:41.919 --> 0:02:45.600 I think that's what um, That's exactly what we're predicting. Yes, 0:02:46.200 --> 0:02:49.600 that we should be looking to Europe and the experiences 0:02:49.680 --> 0:02:52.240 that they are having to give us an indication of 0:02:52.240 --> 0:02:56.920 where we are headed. So is it increases in cases, 0:02:56.960 --> 0:03:01.120 increases in hospitalizations, but the death the death count or 0:03:01.160 --> 0:03:03.360 the rise in deaths isn't as bad because we have 0:03:03.520 --> 0:03:07.480 figured out treatments, UH, in terms of dealing with some 0:03:07.560 --> 0:03:09.919 of the most severe cases so that it doesn't lead 0:03:09.919 --> 0:03:13.919 to a fatality. Absolutely, So I think your interpretation is 0:03:14.880 --> 0:03:19.919 absolutely correct. We are seeing more cases, we're seeing more hospitalization. 0:03:20.200 --> 0:03:23.399 I think people are more well educated, and they're seeking 0:03:23.800 --> 0:03:28.799 um to be tested and or treated, probably earlier than 0:03:28.840 --> 0:03:31.640 what we were seeing in the first wave. I think 0:03:31.800 --> 0:03:36.560 our our biggest concern is that as cases rise and 0:03:36.680 --> 0:03:42.000 as hospitalizations rise UM. While we do have a better 0:03:42.040 --> 0:03:45.360 sense going into the second wave of how to treat 0:03:45.480 --> 0:03:50.040 patients and the diversities of how we can treat patients, 0:03:50.200 --> 0:03:52.600 I mean, it's much better than it was when we 0:03:52.680 --> 0:03:55.280 when we had to go through the shutdown in the spring. 0:03:56.200 --> 0:04:00.720 But I think the big concern is if we exhaust 0:04:01.080 --> 0:04:06.600 hospitals and we exceed the limits of our health care system, 0:04:06.680 --> 0:04:11.160 we will start to see the increases occur in satalities 0:04:11.200 --> 0:04:14.040 because we just may not have the beds and the 0:04:14.080 --> 0:04:18.360 facilities to treat people. That's just infrastructure, right, That's infrastructure. 0:04:18.520 --> 0:04:23.400 That's exactly well. So you're a professor of immunology, so 0:04:23.480 --> 0:04:27.000 let's talk about the vaccine. We heard Dr Anthony Fauci 0:04:27.040 --> 0:04:29.920 say yesterday that we could have one by January at 0:04:29.920 --> 0:04:34.279 the earliest. Does that timeline scene realistic to you. I 0:04:34.320 --> 0:04:38.800 think that timeline is absolutely realistic. I think what is 0:04:38.880 --> 0:04:45.000 going to be UM challenging for the public to UM 0:04:45.200 --> 0:04:49.880 appreciate is that while a vaccine maybe available as early 0:04:49.920 --> 0:04:54.479 as January, the rollout is going to probably take a 0:04:54.560 --> 0:04:58.600 longer duration of time, and so who has access to 0:04:58.800 --> 0:05:03.160 the vaccine as it initially has rolled out, It's obviously 0:05:03.200 --> 0:05:06.080 going to be limited. With a lot of recommendations from 0:05:06.160 --> 0:05:09.920 many organizations who've been thinking long and hard about this, 0:05:10.680 --> 0:05:13.840 that it would be health care workers, people UM at 0:05:13.880 --> 0:05:17.400 our front lines from there moving to people who are 0:05:17.440 --> 0:05:22.440 at greatest risk UM, and then slowly but surely making 0:05:22.480 --> 0:05:25.520 its way out to the rest of us UM. So, 0:05:25.760 --> 0:05:28.000 you know, I think I think it's going to be 0:05:28.080 --> 0:05:35.680 challenging for our communities as we hear a vaccine has 0:05:35.760 --> 0:05:39.880 been developed and as being rolled out, and when people 0:05:39.920 --> 0:05:43.159 don't see that coming to their neighborhood drug store or 0:05:43.279 --> 0:05:48.080 to their primary care physician pediatrician right away, I think 0:05:48.120 --> 0:05:51.039 there's just going to probably be a little frustration, but 0:05:51.200 --> 0:05:53.520 it's going to take some time. When we talk about 0:05:53.600 --> 0:05:56.960 millions and millions of doses, and if you know, these 0:05:57.040 --> 0:06:02.360 vaccines require UM special handle in conditions being kept at 0:06:02.480 --> 0:06:07.160 older temperature. Things that are just going to require ensuring 0:06:07.240 --> 0:06:10.760 that again that infrastructure that you mentioned is in place. Sobber, 0:06:10.839 --> 0:06:12.840 I want to get to the difference between women and men, 0:06:12.920 --> 0:06:15.080 but I want to ask you first more broadly about 0:06:15.080 --> 0:06:18.680 the vaccine. Once we get one, what would you need 0:06:18.720 --> 0:06:21.599 to hear, given you study this to be confident in 0:06:21.640 --> 0:06:27.040 taking it. So I'm already confident enough in taking it 0:06:27.120 --> 0:06:30.000 that I was able to get my husband enrolled in 0:06:30.360 --> 0:06:37.040 one of the trials, which trial, which trials, the Fiser trial. Okay, okay, 0:06:37.200 --> 0:06:42.120 So that's how confident. And he was, you know, patient 0:06:42.320 --> 0:06:46.400 eighties seven, so he was a part of that number. 0:06:46.440 --> 0:06:50.000 Should tell you that when you're talking about tens of thousands, 0:06:50.520 --> 0:06:54.599 he was in a very early phase two trial doing great. 0:06:55.000 --> 0:06:57.080 So what so give us some guidance though for those 0:06:57.120 --> 0:07:00.320 of us who are normal Joe's engines and you know, 0:07:00.320 --> 0:07:02.640 are just seeing a ton of vaccines being developed for 0:07:02.760 --> 0:07:05.839 hearing the conflicting things we're seeing the polls, you know, 0:07:06.200 --> 0:07:09.520 what would be your guiding words to everyone? So my 0:07:09.560 --> 0:07:14.040 guiding words, I think what's really tough is the public 0:07:14.160 --> 0:07:18.640 is having to watch science um at work and in 0:07:18.760 --> 0:07:22.640 real time and sometimes you know, it's not all perfect, 0:07:23.000 --> 0:07:25.920 and we're going to have we do have setbacks, and 0:07:26.000 --> 0:07:31.400 that is a part of the scientific process at work. UM. 0:07:31.440 --> 0:07:34.520 I think that that's a good thing. But I think 0:07:34.520 --> 0:07:41.240 it also for the public creates concern, wariness, UM questions 0:07:41.280 --> 0:07:45.080 about things like safety as well as even how effective 0:07:45.760 --> 0:07:49.760 UM these vaccines will be. Nothing is going to be 0:07:49.840 --> 0:07:54.800 put out there until it is completely determined independent, but 0:07:55.000 --> 0:07:57.320 you know by the FDA in the United States and 0:07:57.320 --> 0:08:01.400 by other groups around the world to be safe as 0:08:01.440 --> 0:08:03.600 well as effective. It's so true. Think about you take 0:08:03.600 --> 0:08:06.040 a medication. You don't think twice about it. Your doctor prescribed, 0:08:06.040 --> 0:08:07.520 but you don't go and look at like, well, what 0:08:07.600 --> 0:08:09.280 kind of trials were done and what were they you 0:08:09.320 --> 0:08:13.080 know exactly, you didn't see that at play And at 0:08:13.120 --> 0:08:16.280 times it probably wasn't pretty and at times they may 0:08:16.320 --> 0:08:20.880 have had to stop trials to manage an unusual occurrence. 0:08:21.400 --> 0:08:25.720 These are not unusual. What's unusual is we are having 0:08:25.760 --> 0:08:29.720 to do our work and have you and the rest 0:08:29.760 --> 0:08:33.319 of the public see us do our work in real time. 0:08:34.240 --> 0:08:39.000 And you know, and and and so I want to 0:08:39.040 --> 0:08:41.080 jump in, want we want to jump in because we 0:08:41.120 --> 0:08:43.800 are interested. We've been teasing that you have been studying 0:08:43.800 --> 0:08:46.920 the differences between men and women and their immune responses. 0:08:47.000 --> 0:08:49.160 What are we seeing maybe when it is when it 0:08:49.200 --> 0:08:51.880 comes to COVID. Yes, so when it comes to COVID, 0:08:52.000 --> 0:08:56.920 just as as as you announced, Um, women are doing better, 0:08:57.200 --> 0:09:02.079 and this is true across diverse adult ages. We're seeing this, 0:09:02.559 --> 0:09:05.679 um in people who are getting sick as young as 0:09:05.760 --> 0:09:10.760 twenty and as old in their hundreds. Um. While for 0:09:10.880 --> 0:09:13.720 both men and women, we do see an increase in 0:09:13.800 --> 0:09:17.400 severity of COVID nineteen with age, So that is not 0:09:17.520 --> 0:09:20.360 to say that women are completely in the clear. There 0:09:20.559 --> 0:09:25.760 is an increase in the likelihood of hospitalization, intensive care 0:09:25.960 --> 0:09:29.160 unit admission, as well as even death for both men 0:09:29.200 --> 0:09:33.320 and women, but in all adult ages it's consistently about 0:09:33.360 --> 0:09:38.120 two times higher for men. Yeah, I mean, and it's 0:09:38.160 --> 0:09:41.560 around the world. I think that's another important point. So 0:09:41.640 --> 0:09:46.080 it cuts across maybe some of the diversity that we 0:09:46.200 --> 0:09:48.960 might have and some of the social and cultural norms 0:09:49.679 --> 0:09:55.680 in just in our behaviors, in our lifestyles. Yeah, it's fascinating, 0:09:55.679 --> 0:09:57.240 and that we just keep learning more and more about 0:09:57.800 --> 0:10:01.400 this virus and the differences and then maybe similarities. UM. 0:10:01.400 --> 0:10:04.200 Thank you so much. Dr Sabercline. She's Professor of Molecular 0:10:04.240 --> 0:10:07.600 microbiology and Immunology at the Johns Hopkins Bloomberg School of 0:10:07.600 --> 0:10:10.319 Public Health. The Johns Hopkins Bloomberg School of Public Health, 0:10:10.320 --> 0:10:13.360 of course, supported by Michael R. Bloomberg, Founder up, Bloomberg 0:10:13.360 --> 0:10:16.400 GAUP and Bloomberg Philanthropies. On the phone in Baltimore. I 0:10:16.440 --> 0:10:18.679 just love when we keep kind of just learning more 0:10:18.679 --> 0:10:22.480 and more, right, Yeah, exactly. This is Bloomberg Business Week 0:10:22.640 --> 0:10:25.719 with Carol Messer from Bloomberg Radio. And we know we 0:10:25.800 --> 0:10:29.000 heard from Dr Anthony Fauci yesterday he said vaccines at 0:10:29.080 --> 0:10:31.640 least in the US won't be available until January the earliest. 0:10:31.679 --> 0:10:33.679 We just talked about that with our last guest. Well, 0:10:33.679 --> 0:10:35.960 this week's cover story is all about the race for 0:10:35.960 --> 0:10:37.800 a vaccine here in the U s. It's of course, 0:10:37.840 --> 0:10:41.000 called Operation Warp Speed. It's the federal government's mission to 0:10:41.040 --> 0:10:44.520 accelerate development of a COVID nineteen vaccine. This story written 0:10:44.520 --> 0:10:47.679 by Bloomberg News Financial Investigation Senior writer Stephanie Baker and 0:10:47.720 --> 0:10:50.720 Bloomberg News is US healthcare reporter Cynthia Kuh and Stephanie 0:10:50.800 --> 0:10:53.360 joins us on the phone from London. And Bloomberg Business 0:10:53.400 --> 0:10:57.360 Week editor Jel Webber is on the phone in Brooklyn. Joel, 0:10:57.480 --> 0:10:59.959 it's it's all about Operation Warp Speed. It's also around 0:11:00.040 --> 0:11:03.040 about a very specific company that's been involved in all 0:11:03.080 --> 0:11:05.920 of this. Yeah, that's so that, you know, we talked 0:11:05.920 --> 0:11:10.080 about vaccines a lot um in this program, and obviously 0:11:10.120 --> 0:11:13.360 I think it's one of the things that everybody is, 0:11:14.280 --> 0:11:17.559 you know, watching in addition to this, you know, election 0:11:17.800 --> 0:11:21.240 next week. But the you know, obviously the big thing 0:11:21.400 --> 0:11:24.880 here with the vaccine is, you know, how do we 0:11:24.960 --> 0:11:27.720 get to a viable vaccine and then how do you 0:11:27.760 --> 0:11:31.120 distribute it? And one of the big unknowns sort of 0:11:31.120 --> 0:11:35.400 in our coverage has been what role Operation Warp Speed 0:11:35.480 --> 0:11:38.120 actually plays in this And that was sort of the 0:11:38.160 --> 0:11:41.559 mission that we put Um, Stephanie and Cynthia on with 0:11:41.600 --> 0:11:44.000 this story. And what we what we learned in the 0:11:44.000 --> 0:11:47.680 process is Um is really told and they told the 0:11:47.720 --> 0:11:51.920 story through a company called uh Emergent, which is in Baltimore. 0:11:52.160 --> 0:11:54.320 That's a company I've never heard of, and yet they're 0:11:54.360 --> 0:11:57.240 one of the many players that are sort of in 0:11:57.360 --> 0:12:01.440 the Operation Warp Speed ecosystem. So so, Stephanie, what what 0:12:01.600 --> 0:12:05.480 is that company? Emergent tell us about Operation Warps feeds 0:12:05.520 --> 0:12:11.920 approach in the vaccine development. Yes, well, you know, Operation 0:12:11.960 --> 0:12:15.360 Warp Speed turned to Emergent when they were looking for 0:12:15.520 --> 0:12:20.319 surge capacity to make vaccines. Emergent had been a supplier 0:12:20.440 --> 0:12:25.840 to the US government for years, uh making vaccines against 0:12:25.840 --> 0:12:30.040 anthrax and smallpox, and so they were in a prime 0:12:30.080 --> 0:12:32.480 position to be able to sort of set that aside 0:12:33.280 --> 0:12:37.560 and start making COVID nineteen vaccines and had this sort 0:12:37.559 --> 0:12:42.360 of the manufacturing suites and the technology, and it turned 0:12:42.400 --> 0:12:44.960 up that there now they had worked with three of 0:12:45.000 --> 0:12:48.920 the six vaccine developers that Operation Warp Speed had has 0:12:49.000 --> 0:12:54.199 publicly backed um and you know, really turned themselves into 0:12:54.240 --> 0:12:58.079 a sort of key node of production for COVID vaccines 0:12:58.240 --> 0:13:02.240 and are gearing up in the process of making what 0:13:02.320 --> 0:13:05.520 will eventually be you know, hundreds of millions of doses 0:13:06.120 --> 0:13:10.160 of vaccines of various candidates. Now, obviously there are two 0:13:10.200 --> 0:13:14.160 things here. There's one is which vaccines will get approved, 0:13:14.960 --> 0:13:18.040 and then there's manufacturing them and making sure there's enough 0:13:18.400 --> 0:13:21.920 supply when that approval does come. And I think that's 0:13:21.960 --> 0:13:24.600 what Operation Warps who's really focused on, is making sure 0:13:24.640 --> 0:13:28.560 that the supply chain is there, that the all the 0:13:28.600 --> 0:13:32.000 manufacturers have what they need and can use, for instance, 0:13:32.000 --> 0:13:36.360 the Defense Production Act to gain priority in in in 0:13:36.400 --> 0:13:38.480 the supply chain to make sure that those doses are 0:13:38.520 --> 0:13:43.839 available if and when an approval does come right. Something 0:13:43.840 --> 0:13:45.760 that surprised me. I don't know whether it should have, 0:13:45.880 --> 0:13:49.600 considering they are intending to have this process happen at 0:13:49.600 --> 0:13:51.960 warp speed, but they say their goal is to start 0:13:52.000 --> 0:13:54.880 delivering a vaccine within twenty four hours of its approval. 0:13:55.320 --> 0:13:59.520 That's a really quick turnaround. Have they succeeded in kind 0:13:59.559 --> 0:14:02.880 of doing having that infrastructure set up for when a 0:14:02.960 --> 0:14:07.280 vaccine is ultimately approved. Well, they are trying to prepare 0:14:07.320 --> 0:14:10.920 the groundwork by doing things like building an integrated computer 0:14:10.960 --> 0:14:15.320 system to track where every dose goes. UM they've outsourced 0:14:15.400 --> 0:14:19.720 distribution to a company UM that has historically worked with 0:14:19.800 --> 0:14:23.560 the Centers for Disease Control on vaccine distribution. But of 0:14:23.600 --> 0:14:28.040 course this all depends on which vaccine gets approved and when, 0:14:28.680 --> 0:14:32.520 and there's just so many uncertainties around that. And you know, 0:14:32.600 --> 0:14:36.440 one of the front runners fiser Um, which is developing 0:14:36.480 --> 0:14:40.560 a vaccine together with Germany's BioNTech UM. You know, it 0:14:40.640 --> 0:14:44.800 has very challenging UH storage requirements. It needs to be 0:14:44.880 --> 0:14:47.960 kept at minus seventy five degrees celsius, which is I 0:14:47.960 --> 0:14:52.280 think as a hundred and twelve degrees fahrenheit. And you 0:14:52.280 --> 0:14:56.200 know that just creates huge challenges in terms of trying 0:14:56.240 --> 0:15:01.120 to farm those doses out across the country. And so 0:15:01.160 --> 0:15:05.760 I think you know they're they're working with individual states 0:15:05.800 --> 0:15:07.520 to try to come up with a plan. I think 0:15:07.560 --> 0:15:10.320 some of the states have pushed back saying, you know, 0:15:10.520 --> 0:15:14.760 you guys, you haven't provided enough detail on things like 0:15:14.840 --> 0:15:17.640 storage or funding. I think there are a lot of 0:15:17.760 --> 0:15:23.480 unanswered questions. So you get some bullish predictions from the 0:15:23.520 --> 0:15:27.480 people working within Operation Warp Speed UM, and it's it's 0:15:27.560 --> 0:15:31.360 unclear until the time comes come January you know whether 0:15:31.440 --> 0:15:34.800 or not they will be able to effectively farm this out. Um. 0:15:34.880 --> 0:15:38.840 It is a massive challenge, Stephanie. One of the big 0:15:38.920 --> 0:15:41.760 numbers in the story is eight ten billion, which is 0:15:41.760 --> 0:15:45.800 basically the figure that Operation work Speed has at its 0:15:45.880 --> 0:15:51.400 disposal to invest in incentivize the private sector and the 0:15:51.400 --> 0:15:56.280 farmer companies to help basically get a vaccino. UM. I'm 0:15:56.320 --> 0:15:59.000 wondering when you think about how big that number is 0:15:59.040 --> 0:16:03.280 in the logistical olenge that Operation Warp Speed is ultimately 0:16:03.280 --> 0:16:07.000 facing here is there is there like almost an optimistic 0:16:07.080 --> 0:16:09.760 take on this. I mean here we are like, regardless 0:16:09.760 --> 0:16:12.800 of when the vaccine comes, whether it's three months, six months, 0:16:12.800 --> 0:16:15.880 a year from now, like, we've never seen anything in 0:16:15.920 --> 0:16:19.560 the in this country operate at this velocity. What's your 0:16:19.600 --> 0:16:23.760 take on that? Yeah, you know, when I started this story, 0:16:23.960 --> 0:16:26.160 I thought there you know, there was a lot of 0:16:26.200 --> 0:16:29.360 questions about lack of transparency in whether or not you know, 0:16:29.400 --> 0:16:34.360 this was um wasted taxpayer money. But when you when 0:16:34.360 --> 0:16:37.680 you think about it, the scale of the economic fallout 0:16:37.760 --> 0:16:42.120 is so enormous. Trillions of dollars in a way, billion 0:16:42.320 --> 0:16:46.160 is very little um, and that they ought to be 0:16:46.480 --> 0:16:49.120 throwing more money at it, and we'll probably have to 0:16:49.160 --> 0:16:51.680 throw more money at it in reality when it gets 0:16:51.720 --> 0:16:55.280 down to the distribution. Um, you know, the States are 0:16:55.320 --> 0:17:00.240 demanding you know, more money. Um. You know Trump has 0:17:00.280 --> 0:17:05.000 promised to provide the vaccine for free, so has Joe Biden. Um. 0:17:05.080 --> 0:17:09.560 Joe Biden has announced that he would spend billion on 0:17:09.560 --> 0:17:16.600 on distribution. Uh, you know, additional on on the vaccine effort, 0:17:16.640 --> 0:17:21.040 including distribution. UM. So you know, I actually think that 0:17:21.280 --> 0:17:24.080 it's it is a bargain in a way, if it 0:17:24.280 --> 0:17:27.280 comes up with an effective vaccine, even if it's only one, 0:17:27.400 --> 0:17:30.399 if they're able to produce three million doses, which is 0:17:30.440 --> 0:17:33.360 the target. He's definitely just really quick thirty seconds from 0:17:33.400 --> 0:17:36.160 your reporting and what you found out about Operation Works. 0:17:36.359 --> 0:17:38.600 Do you feel like it's sometimes I think we questioned 0:17:38.600 --> 0:17:40.960 some of the efficiencies in government or lack thereof. Do 0:17:40.960 --> 0:17:44.960 you feel like it's an efficient process? Just quickly yeah. 0:17:45.000 --> 0:17:48.040 I mean we got from the companies that we spoke 0:17:48.080 --> 0:17:51.400 to they felt like they were getting the support um 0:17:51.440 --> 0:17:55.719 that they needed and that they it was surprisingly efficient. Um. 0:17:55.800 --> 0:17:58.280 And I think, you know, it's obviously a mixed picture 0:17:58.320 --> 0:18:01.080 depending on you know, what company you're talking about, but 0:18:01.160 --> 0:18:03.840 in terms of working out supply chain glitches, I think 0:18:04.119 --> 0:18:06.880 it actually has been quite effective. Pretty cool story, Um, 0:18:06.920 --> 0:18:10.040 great stuff. It's the cover story in the magazine. Stephanie Baker, 0:18:10.080 --> 0:18:13.040 thank you so much. Financial Investigation, senior writer at Bloomberg 0:18:13.040 --> 0:18:15.400 News joining us from London. Jill Weber, thank you as well, 0:18:15.560 --> 0:18:18.000 editor at Bloomberg Business Week. You can find that story 0:18:18.040 --> 0:18:22.760 the magazine, hitting news stands, online and on the Bloomberg Carol. 0:18:22.880 --> 0:18:28.440 It is five days to go into actually the official 0:18:28.800 --> 0:18:31.680 voting club because then we're at election day if we're 0:18:31.680 --> 0:18:33.919 playing that game, though the election has already started being 0:18:33.960 --> 0:18:36.080 fair enough. More than half of the people that voted 0:18:36.119 --> 0:18:38.359 in TWENTI have already voted early. So there you go. 0:18:38.480 --> 0:18:40.960 It's pretty wild, right, It's like the numbers that we're seeing. 0:18:40.960 --> 0:18:42.800 I think it's over seventy five million, at least at 0:18:42.800 --> 0:18:45.719 one check um that I looked at. I always look 0:18:45.760 --> 0:18:47.840 forward to talking with our next guest. Bloomberg News political 0:18:47.880 --> 0:18:50.560 contributor I own a college professor of political science, Jeanie 0:18:50.640 --> 0:18:53.760 Zeno is back with us on the phone from New Rochelle, 0:18:53.800 --> 0:18:56.800 New York up in Westchester. Genny, great to have you 0:18:56.800 --> 0:18:59.040 here with Kaylee and myself. I'm not quite sure where 0:18:59.080 --> 0:19:00.800 to start, Like, so you make up in the morning. 0:19:01.000 --> 0:19:02.399 What is it that you want to know when it 0:19:02.400 --> 0:19:05.119 comes to the campaign trial. So good to talk to 0:19:05.240 --> 0:19:07.479 both of you. It's time to believe, as you're just 0:19:07.480 --> 0:19:11.280 saying that, let's get crazy. But um, you know I 0:19:11.480 --> 0:19:14.160 I I do. As a poster, I have to confess 0:19:14.280 --> 0:19:17.919 that I do always look at the polls. We're just 0:19:18.000 --> 0:19:20.840 having this discussion in class, trying to keep in mind 0:19:20.960 --> 0:19:24.200 that these are, you know, based on probabilities. And they're 0:19:24.280 --> 0:19:27.439 fraught with you know, uncertainty at this point. But I 0:19:27.520 --> 0:19:29.639 do look at the polls. I do look at my 0:19:29.680 --> 0:19:33.080 favorite forecasters. I have to admit everybody from five thirty 0:19:33.080 --> 0:19:35.720 eight to Larry Sabato who comes on Bloomberg of course, 0:19:35.720 --> 0:19:40.359 and it's wonderful, and you know, so many of the yes, 0:19:40.640 --> 0:19:43.119 U v A. And Crystal Ball is great and of 0:19:43.160 --> 0:19:46.080 course uh Cook political reports. So there's a lot of 0:19:46.080 --> 0:19:48.280 the forecasters I look at. But I get it right 0:19:48.359 --> 0:19:52.440 last time. Um, you know, they did not necessarily get 0:19:52.480 --> 0:19:56.960 it right overall, but that but but the some of 0:19:57.000 --> 0:20:00.240 them did, but the but you know, the the was 0:20:00.280 --> 0:20:01.760 more of I think a flaw of some of the 0:20:01.840 --> 0:20:04.760 state polls. But again, you know, when you have states 0:20:04.840 --> 0:20:10.480 like Michigan, Wisconsin, UM in Pennsylvania where the president one 0:20:10.560 --> 0:20:13.160 by less than one percent, you know, those are really 0:20:13.200 --> 0:20:15.560 hard to call. So I look at that. But of course, 0:20:15.640 --> 0:20:17.639 like I always pay attention to what's going on in 0:20:17.680 --> 0:20:20.000 the news and of course the economy, like all of 0:20:20.040 --> 0:20:22.400 these things that could sort of change something as well. 0:20:22.440 --> 0:20:24.719 It's late for there to be sort of a big 0:20:24.840 --> 0:20:27.520 changing news event, but I do think it can have 0:20:27.560 --> 0:20:30.080 an impact. And one thing I'm curious about now is 0:20:30.400 --> 0:20:32.879 you know, as the prospect of the Democrats taking the 0:20:32.920 --> 0:20:37.080 Senate seems to increase, does that make people at least 0:20:37.119 --> 0:20:39.600 in the middle unwilling to sort of give all of 0:20:39.680 --> 0:20:43.399 Washington to Democrats. I think that's a big question. Well, gee, 0:20:43.400 --> 0:20:44.960 you brought up the Senate, so I want to ask you. 0:20:45.000 --> 0:20:47.679 I was looking at real clear politics right now. They 0:20:47.720 --> 0:20:51.600 see forty five seats going to Democrats Republicans. Nine are 0:20:51.680 --> 0:20:55.560 toss ups. That feels like it really could go either way, 0:20:55.600 --> 0:20:58.200 it really does, you know. I think at this point 0:20:58.280 --> 0:21:01.359 we are thinking that it looks, you know, that the 0:21:01.400 --> 0:21:05.000 Democrats can take this, but we are not sure where 0:21:05.040 --> 0:21:07.200 some of these states are going to come down. And so, 0:21:07.760 --> 0:21:09.439 you know, I think those are going to be some 0:21:09.560 --> 0:21:12.520 of the most interesting races to watch are going to 0:21:12.600 --> 0:21:15.159 be in the Senate this year. And so, you know, 0:21:15.359 --> 0:21:18.440 some of them have been fascinating just listening to the president, 0:21:18.840 --> 0:21:22.040 you know, quickly call up Martha McSally to you know, 0:21:22.160 --> 0:21:25.000 to speak yesterday and just as quickly dismissed her. And 0:21:25.080 --> 0:21:26.880 what's going to happen in the state in the race 0:21:26.960 --> 0:21:29.520 like Arizona, certainly, what's going to happen in the state 0:21:29.600 --> 0:21:32.800 like Colorado, in a state like Michigan. So there are 0:21:32.800 --> 0:21:36.359 so many North Carolina. There's so many fascinating races going 0:21:36.400 --> 0:21:39.600 on around the country that could change this thing either 0:21:39.640 --> 0:21:42.040 way at this point for sure, and with the Senate 0:21:42.080 --> 0:21:44.000 and with the presidential race, I want to ask you 0:21:44.080 --> 0:21:47.760 how stimulus or the lack of getting a stimulus deal 0:21:47.840 --> 0:21:49.960 factors into this. Who does it help, who does it hurt? 0:21:49.960 --> 0:21:52.760 Does it really make a difference. I think it does 0:21:52.840 --> 0:21:55.439 make a difference. I think it is um, you know, 0:21:55.760 --> 0:21:59.359 something that I think it's something that we heard the 0:21:59.400 --> 0:22:02.880 president you know, wanted to do um and they could 0:22:02.920 --> 0:22:07.480 not get it done with the Democrats. Um, I think democrats. 0:22:08.160 --> 0:22:11.680 I think it hurts the Republicans more because I think 0:22:11.720 --> 0:22:14.920 there's a tendency for the American public to blame the 0:22:14.960 --> 0:22:17.400 people who control the White House or what doesn't does 0:22:17.440 --> 0:22:20.119 not come out whether I don't think that's even quite fair, 0:22:20.160 --> 0:22:22.320 but I think we all have a tendency to say 0:22:22.480 --> 0:22:24.800 the president could have made this happen if he or 0:22:24.840 --> 0:22:28.040 she wanted to. So I do think there's a tendency 0:22:28.080 --> 0:22:30.280 for this to hurt the Republicans because they do have 0:22:30.440 --> 0:22:33.760 the Senate and the White House. Um. But but you know, 0:22:33.840 --> 0:22:35.800 I think there's a lot of blame to go around too. 0:22:35.840 --> 0:22:38.480 I think that you know, Democrats could have done more 0:22:38.600 --> 0:22:40.720 to come to an agreement. They did not do that. 0:22:41.119 --> 0:22:43.919 So I do think the stimulus plays a role. And 0:22:43.960 --> 0:22:46.840 I think as people think about, you know, the stock 0:22:46.880 --> 0:22:49.760 market and other things, the stimulus is you know, top 0:22:49.760 --> 0:22:51.960 on their mind in terms of how we go forward. 0:22:52.080 --> 0:22:55.480 And we're hearing Sauci say yesterday that we could be 0:22:55.640 --> 0:22:58.080 in the midst of this pandemic not just through but 0:22:58.160 --> 0:23:01.399 twenty two before life returns to North and so we 0:23:01.520 --> 0:23:04.119 are going to need a stimulus agreement out of Washington 0:23:04.280 --> 0:23:06.840 sooner rather than later. At a conversation with the CEO 0:23:07.240 --> 0:23:10.359 and they earlier today and saying that Cove is going 0:23:10.400 --> 0:23:12.760