WEBVTT - Iran Peace Deal Push Intensifies; Ebola Outpaces Control in Congo

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, Radio News. Welcome to the Bloomberg

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<v Speaker 1>This Weekend Podcast with David Gura, Christina Raffini, and Elisa Matteo.

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<v Speaker 5>Well.

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<v Speaker 3>President Trump's staying in Washington this weekend after scrapping a

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<v Speaker 3>trip to Bedminster, New Jersey. According to The New York Times,

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<v Speaker 3>he has been reviewing military options for potentially resuming the

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<v Speaker 3>bombing campaign against Iran.

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<v Speaker 2>That's right, but according to the Qataris, the President also

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<v Speaker 2>just had a phone call with the Amir of that

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<v Speaker 2>nation where they discuss de escalation of tensions in the region,

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<v Speaker 2>as well as Maritimes safety in the Strait of Hormuz.

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<v Speaker 2>Back with us, as Bloomberg's White House correspondent Kate Sullivan. Kate,

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<v Speaker 2>as we're hearing all these Gulf allies and some European

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<v Speaker 2>allies as well are trying to dissuade Trump from restarting

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<v Speaker 2>this conflict. When it comes to who's talking to him

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<v Speaker 2>in the White House and who's helping him make these decisions,

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<v Speaker 2>He's down one key player, and that's d and I.

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<v Speaker 2>Telsei Gabbard, who resigned yesterday setting health concerns with her husband,

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<v Speaker 2>talked to us a little bit about her role and

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<v Speaker 2>then just the national security apparatus around the president and

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<v Speaker 2>who was advising him as he goes into all these

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<v Speaker 2>foreign policy issues.

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<v Speaker 5>Yeah, that's right. So it was surprising news yesterday. Tulsi

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<v Speaker 5>Gabbard said that she had presented her letter of resignation

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<v Speaker 5>to the president that her husband is battling cancer and

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<v Speaker 5>she wanted to be by his side. I will say

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<v Speaker 5>that Gabbard has been a really interesting figure in the administration,

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<v Speaker 5>is particularly amid the war. She's been very vocal about

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<v Speaker 5>her anti interventionist stance. She's been you know, when she

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<v Speaker 5>was on the campaign trail with Trump, he was talking

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<v Speaker 5>a lot about no new wars and and no new

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<v Speaker 5>foreign conflict. So she is on the record with with

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<v Speaker 5>essentially uh saying that she is not for starting new

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<v Speaker 5>wars abroad, and she has not been a key figure

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<v Speaker 5>in the room. You know, we have reported this, others

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<v Speaker 5>have reported this in recent weeks. When it comes to

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<v Speaker 5>Venezuela and Iran and some of the discussions about Cuba,

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<v Speaker 5>she has been of course, she she had a top

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<v Speaker 5>role in the administration, but the reporting says that she

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<v Speaker 5>was not really a key figure in these discussions. Trump

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<v Speaker 5>has a very small national security team around him. It's

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<v Speaker 5>a it's a very small group of individuals that includes

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<v Speaker 5>Mark or Rubio. Jade Vance is also part of that,

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<v Speaker 5>Pete Haig Seth. There are other top advisors. But but

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<v Speaker 5>really when it comes to who he's listening to and

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<v Speaker 5>talking about these things with the smaller group than you'd expect.

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<v Speaker 3>Yes, I will note that in our reporting an indication

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<v Speaker 3>some people refer to D and I as do not invite.

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<v Speaker 3>That was a nickname or position and earned over the

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<v Speaker 3>course of this second term.

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<v Speaker 6>Kate, you mentioned Cuba, and I'd love to go there

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<v Speaker 6>as well.

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<v Speaker 3>Yes, there's a lot of talk about what might happen

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<v Speaker 3>next with with Ron, how long this ceasefire might last,

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<v Speaker 3>will it be continued perhaps in perpetuity. At the same time,

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<v Speaker 3>we have seen over the course of this last week

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<v Speaker 3>a lot of pressure ratcheting up on Cuba as well.

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<v Speaker 6>Talk a bit about that and what.

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<v Speaker 3>The latest thinking is among members of this administration and

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<v Speaker 3>observers about where all of this might be headed.

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<v Speaker 5>You know, it was interesting because we've heard Trump really

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<v Speaker 5>escalating up until this week. We really heard him escalating

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<v Speaker 5>his rhetoric on Cuba and saying a lot of things

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<v Speaker 5>along the lines of, you know, after Ron, we're going

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<v Speaker 5>to turn to Cuba. You know, I might be the

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<v Speaker 5>first president to really do something there, really kind of

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<v Speaker 5>heavily hinting at potential military action in Cuba. I thought

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<v Speaker 5>it was interesting when he was speaking to reporters on Wednesday,

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<v Speaker 5>I believe he seemed to downplay the need for military

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<v Speaker 5>action to further ratchet up pressure on Cuba. And this

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<v Speaker 5>is coming, of course, after the indictment of ral Castro,

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<v Speaker 5>the former president of Cuba, which in of itself was

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<v Speaker 5>a huge escalation. You know, the United States has charged

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<v Speaker 5>him with murder and so he's but it was interesting

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<v Speaker 5>after that, you know, which a lot of people saw

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<v Speaker 5>as sort of perhaps a prelude to US military action

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<v Speaker 5>in Cuba. The President at least publicly is now saying

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<v Speaker 5>that there is not a need to UH to further

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<v Speaker 5>ratchet up pressure pressure there. And he was asked about

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<v Speaker 5>military action in Cuba, and he seemed to really downplay

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<v Speaker 5>the need for that. So it's it's unclear what the

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<v Speaker 5>next steps are on Cuba, but of course we're we're

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<v Speaker 5>closely watching any and all developments there.

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<v Speaker 6>Strategic ambiguity.

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<v Speaker 2>Christiana, Yeah, that was surprising to me, given the indictment

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<v Speaker 2>and then the president's rearrange travel plans. We were bracing

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<v Speaker 2>for another long night in a busy morning, but so

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<v Speaker 2>far the center seems to be holding. Before we let

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<v Speaker 2>you go, I do want to ask you just briefly

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<v Speaker 2>about Ebola, which is the other big story we've been

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<v Speaker 2>talking about this morning. I actually just asked our control

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<v Speaker 2>room because I didn't remember the President talking much about this.

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<v Speaker 2>He was asked about it a couple of days ago

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<v Speaker 2>if he was concerned about a bola and said, I'm

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<v Speaker 2>concerned about everything, but certainly am I think you know

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<v Speaker 2>it's been confined right now to Africa, but it's something

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<v Speaker 2>that had a breakout, and then he turned to other

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<v Speaker 2>individuals to speak more about it. Has there been a

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<v Speaker 2>lot of messaging from the White House on this. We've

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<v Speaker 2>heard from the State Department, We've heard a bit from

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<v Speaker 2>Health Apparatus's CDC about how they're trying to prevent the

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<v Speaker 2>outbreak from coming here. But is this an issue that's

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<v Speaker 2>even really on the President's radar at this point.

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<v Speaker 5>That's a great question. We've not heard a lot of messaging,

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<v Speaker 5>Bonnie Bola specifically. The President has been asked about it

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<v Speaker 5>a couple of times, and like you mentioned, he said,

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<v Speaker 5>you know, sort of he'll make these statements like, well,

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<v Speaker 5>you know, of course, I'm concerned about everything. And I

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<v Speaker 5>think it's also important to note that, you know, health

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<v Speaker 5>officials and experts are saying that these really these cuts

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<v Speaker 5>to us and the United States pulling out of the

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<v Speaker 5>WHO but that has really negatively impacted the response to

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<v Speaker 5>the to ebola on the ground. But so far, we've

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<v Speaker 5>not heard a lot from this White House about what

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<v Speaker 5>the plan is and how concerned they are, and so

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<v Speaker 5>it's I think it'll be something that we just continue

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<v Speaker 5>to watch in the coming weeks, But we've not heard

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<v Speaker 5>a lot from the President on this so far.

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<v Speaker 2>All Right, Kate.

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<v Speaker 6>Sulvin, thank you very much.

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<v Speaker 3>Appreciate you joining us here on this Saturday, and we're

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<v Speaker 3>going to keep talking about foreign policy here as pres

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<v Speaker 3>and Trump considers what's next with the war in Iran.

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<v Speaker 3>Former US officials like General David Petraeus, who served as

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<v Speaker 3>the director of the CIA, of course, was the commander

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<v Speaker 3>of sencom our meeting with world leaders to discuss all

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<v Speaker 3>of the global conflicts we've been talking about over the

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<v Speaker 3>course of the morning. He has been to Kiev himself

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<v Speaker 3>ten times since Russia invaded Ukraine, and last week he

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<v Speaker 3>was in the Middle East. On the heels of that trip,

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<v Speaker 3>I sat down with the General and I asked him

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<v Speaker 3>how he defines victory in Iran. Thank you very much

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<v Speaker 3>for taking the time.

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<v Speaker 6>Appreciate it. Good to be with you.

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<v Speaker 3>D you define victory in Iran now a couple months

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<v Speaker 3>into this conflict.

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<v Speaker 7>Well, I think actually getting an agreement that would restore

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<v Speaker 7>freedom navigation of the Gulf in the Strait of Remus

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<v Speaker 7>without Iran laying claim to it and being able to

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<v Speaker 7>tax people going through it and ships. I think that's

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<v Speaker 7>probably the most important goal at this moment. But of

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<v Speaker 7>course that doesn't address the other core issues that we

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<v Speaker 7>have with Iran, such as it's nuclear stockpile of almost

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<v Speaker 7>one thousand pounds of sixty percent rich uranium that's just

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<v Speaker 7>one level below weapons grade, the right to enrich in

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<v Speaker 7>the future, their support to proxies in the region that

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<v Speaker 7>are pretty murderous, that Hamas Hasballah Shia militia and Iraq

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<v Speaker 7>Huthi's and Yemen, and then the missile programs and the

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<v Speaker 7>rest of this, And I think it's a pretty limited

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<v Speaker 7>amount of these other concerns that may ever get addressed,

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<v Speaker 7>But clearly there has to be an agreement to get

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<v Speaker 7>this straight reopened and to restore freedom of navigation without

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<v Speaker 7>there might be some arrangement where perhaps there's some modest

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<v Speaker 7>fee charged that might go in part to Iran Oman

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<v Speaker 7>who knows, and navigation aids or something like this, but

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<v Speaker 7>that I think is the imperative at this moment in time,

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<v Speaker 7>and I'm not sure that Iran is going to be

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<v Speaker 7>willing to do that right now. They are insistent that

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<v Speaker 7>they are given control of the golf the Straight and

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<v Speaker 7>that they are able to charge tolls for it. That's

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<v Speaker 7>just I think unacceptable, and it may be that we

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<v Speaker 7>have to go back to war to show them that

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<v Speaker 7>we're pretty serious about this.

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<v Speaker 3>You spent a lot of time in the region. You

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<v Speaker 3>were in a rock recently. What have you learned traveling

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<v Speaker 3>through those countries in recent weeks about how they see

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<v Speaker 3>this conflict unfolding.

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<v Speaker 8>Well, it varies.

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<v Speaker 7>I mean someone is asking me, what do the Gulf

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<v Speaker 7>States think, Well, the Golf State, No, it's not aggreate.

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<v Speaker 7>You can't aggregate. You have to look at each one.

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<v Speaker 7>Emiratis are particular outraged. Then they've been the biggest target

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<v Speaker 7>of the drones and so forth by Iran, in part

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<v Speaker 7>perhaps because they're supportive of the US and have the

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<v Speaker 7>Abraham Accords with Israel. Others have not been on the

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<v Speaker 7>receiving as much, but Cutters lost seventeen percent of their

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<v Speaker 7>LNG production capacity for three to five years. The Saudis

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<v Speaker 7>are actually trying to broker a bit. I actually met

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<v Speaker 7>with the Crown Prince when I was there last week.

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<v Speaker 7>They're working through the Pakistanis, with whom they have a

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<v Speaker 7>very close relation.

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<v Speaker 8>I think it was eight thousand Pakistani troops.

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<v Speaker 7>Just deployed to Saudi rab to help with Kenner drone

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<v Speaker 7>in a variety of other security tasks. So it really

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<v Speaker 7>does depend on the country and so forth. They all

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<v Speaker 7>want though, to see straighter from Moose reopened and to

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<v Speaker 7>ensure that there's not going to be a toll or

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<v Speaker 7>a control by Iran exerted on that that's the be

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<v Speaker 7>all and end all for all of them. But in

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<v Speaker 7>the wake of it, to see enormous investment in hardening, resilience, redundancy,

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<v Speaker 7>alternatives to the use of the strait routes out for

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<v Speaker 7>crude oil and natural gas other than a ship that

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<v Speaker 7>goes through the straight or promoves.

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<v Speaker 8>And this is very, very profound.

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<v Speaker 7>This is a very big, very big implication, especially if

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<v Speaker 7>you're a partner and investment firm like Akar.

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<v Speaker 3>So the investment becomes more inward. I imagine for a

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<v Speaker 3>lot of these nations in the past they might have

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<v Speaker 3>used their softigre wealth funds to invest in US companies tech.

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<v Speaker 7>I've always done a lot inward, but I think it's

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<v Speaker 7>going to be there's going to be a period of time,

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<v Speaker 7>a number of years where the focus really is on

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<v Speaker 7>what they need to do to reduce their vulnerability in

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<v Speaker 7>the future, both to attack. So there's going to be

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<v Speaker 7>a lot of implications for the military organizational changes, what

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<v Speaker 7>they buy, how they buy it, and all the rest

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<v Speaker 7>of this, how they train and operate. So there's very

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<v Speaker 7>very profound changes out there as a result of this,

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<v Speaker 7>which we.

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<v Speaker 8>Haven't really seen.

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<v Speaker 7>I don't think it has been much more steady state in

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<v Speaker 7>a variety of ways for a number of years.

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<v Speaker 3>Are these Skulf nations reevaluating their relationship with the US.

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<v Speaker 6>In light of this?

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<v Speaker 3>Have they felt unprotected or unbacked up?

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<v Speaker 8>I'm sure they have.

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<v Speaker 7>You know, these states tried to stay out of this,

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<v Speaker 7>They tried to take a knee. We were denied access

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<v Speaker 7>to the base at many of the bases we normally occupy.

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<v Speaker 7>Now the truth is we're not as inclined to occupy

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<v Speaker 7>these bases now that we have seen what the Iranians

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<v Speaker 7>can throw at them. This is much more than when

0:11:36.080 --> 0:11:38.240
<v Speaker 7>I was the commander of Central Command, for example, back

0:11:38.240 --> 0:11:41.840
<v Speaker 7>from two thousand and eight to twenty ten. Back then,

0:11:42.120 --> 0:11:45.640
<v Speaker 7>my forward headquarters was at a huge air base outside Doha.

0:11:45.800 --> 0:11:46.400
<v Speaker 8>All you did.

0:11:46.840 --> 0:11:49.360
<v Speaker 7>We had a beautiful headquarters paid for by the cutteries

0:11:49.360 --> 0:11:51.560
<v Speaker 7>one hundred million dollars or whatever, but half of it's

0:11:51.559 --> 0:11:54.520
<v Speaker 7>above ground. And I can assure you the Central Commanded

0:11:54.760 --> 0:11:58.080
<v Speaker 7>Commander did not do what he what his predecessors have

0:11:58.120 --> 0:12:00.440
<v Speaker 7>always done, which is being the same time with all

0:12:00.480 --> 0:12:03.920
<v Speaker 7>of your forces. He stayed at the base at McDill

0:12:03.920 --> 0:12:07.560
<v Speaker 7>Air Force Base outside Tampa. That's where the war has

0:12:07.600 --> 0:12:10.400
<v Speaker 7>been run from, not from the forward hedgewards, a combined

0:12:10.440 --> 0:12:14.199
<v Speaker 7>near operations center, which functions that that same airbase runs

0:12:14.200 --> 0:12:16.760
<v Speaker 7>the air war for the region, and in this case

0:12:16.800 --> 0:12:18.760
<v Speaker 7>even had the Israeli Air Force as part of it.

0:12:18.800 --> 0:12:21.880
<v Speaker 7>In many respects, they didn't run from out there either,

0:12:21.960 --> 0:12:24.920
<v Speaker 7>because it's vulnerable. They actually ran it from an airbase

0:12:25.040 --> 0:12:26.280
<v Speaker 7>in South Carolina.

0:12:27.000 --> 0:12:29.480
<v Speaker 3>How should this conflict reframe the way that we look

0:12:29.480 --> 0:12:32.280
<v Speaker 3>at US military readiness? So we see the use of

0:12:32.559 --> 0:12:34.959
<v Speaker 3>drones in Iran, We've seen them of course in the

0:12:35.040 --> 0:12:38.800
<v Speaker 3>Ukraine wars as well. I think there's been some fear

0:12:39.440 --> 0:12:42.360
<v Speaker 3>that the US has deployed a lot of military might

0:12:42.440 --> 0:12:44.160
<v Speaker 3>in the Middle East that might leave it vulnerable.

0:12:44.600 --> 0:12:45.600
<v Speaker 6>We're China to do so.

0:12:45.720 --> 0:12:46.840
<v Speaker 8>There's a number of issues.

0:12:46.920 --> 0:12:49.240
<v Speaker 7>Well, I've said publicly for a number of years and

0:12:49.280 --> 0:12:51.880
<v Speaker 7>written about it as well, and very recently in the

0:12:51.920 --> 0:12:54.440
<v Speaker 7>Wall Street Journal Foreign Affairs the Hill. I was trying

0:12:54.480 --> 0:12:57.679
<v Speaker 7>to get at tension of Congress on an issue that

0:12:57.720 --> 0:13:01.360
<v Speaker 7>we have not remotely learned all the lessons we should

0:13:01.400 --> 0:13:04.160
<v Speaker 7>have from the war in Ukraine. That is the future

0:13:04.200 --> 0:13:07.760
<v Speaker 7>of war right now, a war in which you one

0:13:07.840 --> 0:13:11.560
<v Speaker 7>side alone. Ukraine is using ten thousand drones a day.

0:13:12.240 --> 0:13:15.880
<v Speaker 7>Ninety percent of the casualties on the Russian side are

0:13:15.920 --> 0:13:20.120
<v Speaker 7>caused by drones. Tanks can't maneuver anymore, they can't survive

0:13:20.400 --> 0:13:24.440
<v Speaker 7>armored vehicles. You can't even drive vehicles in the death zone,

0:13:24.440 --> 0:13:27.080
<v Speaker 7>which is thirty five kilometers on either side of the

0:13:27.120 --> 0:13:29.880
<v Speaker 7>front lines, which aren't even lines anymore, because drones can

0:13:29.880 --> 0:13:34.199
<v Speaker 7>fly into trenches and kill people, so their survival positions.

0:13:35.200 --> 0:13:37.760
<v Speaker 8>So this is just a vast change.

0:13:37.800 --> 0:13:40.240
<v Speaker 7>And by the way, there's more coming because within a

0:13:40.320 --> 0:13:43.920
<v Speaker 7>year or two we're going to see not remotely piloted,

0:13:44.200 --> 0:13:47.520
<v Speaker 7>unmanned systems. And keep in mind that Ukraine is going

0:13:47.520 --> 0:13:50.720
<v Speaker 7>from three point five million drones manufactured last year to

0:13:50.760 --> 0:13:53.080
<v Speaker 7>seven million this year, so they can get up to

0:13:53.120 --> 0:13:55.679
<v Speaker 7>twenty thousand drones per day if they can find the pilots.

0:13:56.360 --> 0:14:01.199
<v Speaker 7>But in the future, we're going to see autonomous systems,

0:14:01.240 --> 0:14:05.360
<v Speaker 7>truly autonomous, that do not require a pilot to remotely

0:14:05.720 --> 0:14:09.760
<v Speaker 7>operate them. And then you face drone swarms, and that

0:14:09.880 --> 0:14:11.960
<v Speaker 7>is something for which we really don't have a solution.

0:14:12.000 --> 0:14:15.000
<v Speaker 7>There's high power microwave coming. It's very short range, it's

0:14:15.120 --> 0:14:18.920
<v Speaker 7>very effective, but you're going to have to have tons

0:14:19.080 --> 0:14:21.920
<v Speaker 7>of it. Given the two to three kilometer range that

0:14:21.960 --> 0:14:26.120
<v Speaker 7>it has. It's spectacular. Everything drops, but you're going to

0:14:26.120 --> 0:14:28.800
<v Speaker 7>have to have a lot of them. So that I

0:14:28.800 --> 0:14:32.680
<v Speaker 7>think hopefully this is going to drive home the absolute

0:14:32.720 --> 0:14:36.760
<v Speaker 7>imperative of true institutional change in the United States, overhauling

0:14:36.800 --> 0:14:41.560
<v Speaker 7>the entire concepts of war and operation. The attendant organizational

0:14:41.640 --> 0:14:44.960
<v Speaker 7>change is sweeping. You know, unmanned systems force equal to

0:14:45.000 --> 0:14:47.400
<v Speaker 7>the Army and Navy Air Force in Ukraine, for example.

0:14:48.040 --> 0:14:51.560
<v Speaker 7>Change how you train and operate, change how you educate

0:14:51.680 --> 0:14:55.080
<v Speaker 7>your leaders, and change obviously what you buy and even

0:14:55.080 --> 0:14:58.440
<v Speaker 7>how you buy it, because you want the opportunity to

0:14:58.720 --> 0:15:01.880
<v Speaker 7>make software change every a week or two, hardware changes

0:15:01.920 --> 0:15:04.880
<v Speaker 7>every few weeks. This is a very different model from

0:15:04.960 --> 0:15:08.760
<v Speaker 7>what we have. Beyond that, we've obviously used a lot

0:15:08.800 --> 0:15:11.880
<v Speaker 7>of our exquisite munitions, cruise missiles and so forth, and

0:15:11.960 --> 0:15:16.400
<v Speaker 7>a lot of our exquisite missile interceptors, a very substantial number,

0:15:17.360 --> 0:15:20.640
<v Speaker 7>and we have really got to get the arsenal democracy

0:15:20.680 --> 0:15:21.200
<v Speaker 7>going again.

0:15:21.280 --> 0:15:21.680
<v Speaker 8>Right now.

0:15:21.760 --> 0:15:25.960
<v Speaker 7>The arsenal democracies in Ukraine, not the United States, and

0:15:26.000 --> 0:15:27.960
<v Speaker 7>we have got to make huge change, and the President's

0:15:28.000 --> 0:15:31.640
<v Speaker 7>doing that. He called together all the defense major companies

0:15:31.680 --> 0:15:34.280
<v Speaker 7>and so forth, laid out what we need them to

0:15:34.320 --> 0:15:37.040
<v Speaker 7>do in terms of tripling or quadruple in production of

0:15:37.080 --> 0:15:38.280
<v Speaker 7>certain systems and so.

0:15:38.160 --> 0:15:40.200
<v Speaker 6>Forth on Ukraine.

0:15:40.520 --> 0:15:42.640
<v Speaker 3>Does it feel like we are at a tipping point?

0:15:42.680 --> 0:15:45.160
<v Speaker 3>We had the approval of this very sizable package from

0:15:45.320 --> 0:15:49.240
<v Speaker 3>the Europeans, We've seen drone attacks now closer to and

0:15:49.320 --> 0:15:52.000
<v Speaker 3>on Moscow. Are we in a different place now than

0:15:52.040 --> 0:15:52.360
<v Speaker 3>we were?

0:15:52.440 --> 0:15:52.920
<v Speaker 8>Yeah? We are.

0:15:52.960 --> 0:15:55.440
<v Speaker 7>And I've actually said for almost a year now that

0:15:55.480 --> 0:15:59.600
<v Speaker 7>I could envision a situation in which if there's sufficient

0:15:59.640 --> 0:16:03.640
<v Speaker 7>support for the Ukrainians, and this nine billion euros from

0:16:03.720 --> 0:16:06.800
<v Speaker 7>the European Commission is very very helpful, probably takes care

0:16:06.840 --> 0:16:09.840
<v Speaker 7>of them for another year and a half, and if

0:16:09.840 --> 0:16:13.200
<v Speaker 7>they can continue to increase the production drones and pilots

0:16:13.200 --> 0:16:15.240
<v Speaker 7>and units that can use them and all the rest

0:16:15.240 --> 0:16:20.920
<v Speaker 7>of that, and start going deeper in Russia and inflicting

0:16:20.960 --> 0:16:23.880
<v Speaker 7>such casualties in Russia that it's maybe the same as

0:16:24.240 --> 0:16:26.320
<v Speaker 7>what they're recruiting on a monthly basis. You know, they've

0:16:26.360 --> 0:16:30.480
<v Speaker 7>now taken almost one point four million killed and wounded.

0:16:30.520 --> 0:16:33.080
<v Speaker 7>That's more than we sustained in all of World War Two.

0:16:33.320 --> 0:16:37.360
<v Speaker 7>So and all of a sudden last month, the Ukrainians

0:16:37.560 --> 0:16:41.120
<v Speaker 7>took back more territory than the Russians actually took from them.

0:16:41.200 --> 0:16:45.280
<v Speaker 7>These are incremental gains, but more for the Ukrainian side,

0:16:45.400 --> 0:16:49.600
<v Speaker 7>and Ukrainians causing staggering amounts of Russian casualty. I just

0:16:49.680 --> 0:16:54.720
<v Speaker 7>don't think that Russia can continue this, certainly next year.

0:16:54.760 --> 0:16:56.520
<v Speaker 7>At some point, I think Putin's going to look in

0:16:56.520 --> 0:16:59.960
<v Speaker 7>the mirror, especially if the lifting of sanctions on their

0:17:00.040 --> 0:17:05.199
<v Speaker 7>oil sales in the price of oil are reimposed and

0:17:05.280 --> 0:17:08.640
<v Speaker 7>his National welfare fund runs out of money because it's

0:17:08.680 --> 0:17:11.920
<v Speaker 7>being diverted to the military industrial complex. All that happens,

0:17:12.440 --> 0:17:15.200
<v Speaker 7>I think you could see a point where Russia needs

0:17:15.200 --> 0:17:17.760
<v Speaker 7>a cessation of hostilities as much as it does Ukraine.

0:17:18.320 --> 0:17:20.720
<v Speaker 3>Last question is just about the balance of hard power

0:17:20.720 --> 0:17:23.000
<v Speaker 3>and soft power at this moment. So we've seen the

0:17:23.080 --> 0:17:26.160
<v Speaker 3>US technicols Maduro bring him to the United States, see

0:17:26.200 --> 0:17:29.960
<v Speaker 3>the US deploy hard power in Iran as well. How

0:17:30.000 --> 0:17:31.840
<v Speaker 3>good are we with that balance at this point? How

0:17:31.880 --> 0:17:34.280
<v Speaker 3>important is it to have that equilibrium between the hard

0:17:34.280 --> 0:17:36.399
<v Speaker 3>power that we're using and the soft power that we're deploying.

0:17:36.480 --> 0:17:39.000
<v Speaker 7>Right, It's a really interesting question, and I'd have to

0:17:39.040 --> 0:17:42.440
<v Speaker 7>say that, certainly from my time in Uniform or the CIA,

0:17:43.800 --> 0:17:46.679
<v Speaker 7>that the hard power is much more prominent and the

0:17:46.720 --> 0:17:49.639
<v Speaker 7>soft power is much reduced. I mean, just the fact

0:17:49.640 --> 0:17:52.280
<v Speaker 7>that we did away with the Agency for International Development

0:17:52.720 --> 0:17:57.160
<v Speaker 7>usaid that we aren't funding anywhere near what we did,

0:17:57.280 --> 0:18:00.800
<v Speaker 7>although Congress has actually restored a lot of this. You know,

0:18:01.000 --> 0:18:04.520
<v Speaker 7>we used to say that what solidifies the gains on

0:18:04.560 --> 0:18:08.760
<v Speaker 7>the battlefield, if you can establish a security foundation, what

0:18:08.920 --> 0:18:13.840
<v Speaker 7>solidifies it is the soft power. It's providing humanitarian assistance.

0:18:14.000 --> 0:18:23.000
<v Speaker 7>It's restoring basic services, it's rebuilding damaged home schools, clinics, shops, roads, bridges.

0:18:22.600 --> 0:18:23.040
<v Speaker 8>All of this.

0:18:23.720 --> 0:18:27.080
<v Speaker 7>So the people say, you know what, I don't want

0:18:27.119 --> 0:18:30.280
<v Speaker 7>these guys to come back and jeopardize this. Let's get

0:18:30.400 --> 0:18:32.120
<v Speaker 7>rid of al Qaeda. You know what do they bring

0:18:32.160 --> 0:18:35.920
<v Speaker 7>on us. Let's get rid of these insurgents. Let's marginalize

0:18:35.920 --> 0:18:38.240
<v Speaker 7>that she and militia supported by Iran, all this kind

0:18:38.320 --> 0:18:43.000
<v Speaker 7>of stuff. So that's what soft power does. To be sure,

0:18:43.040 --> 0:18:45.439
<v Speaker 7>there are many pet rocks in the numbers that you know,

0:18:45.640 --> 0:18:51.480
<v Speaker 7>every congressmen are executive branch official. We can probably survive

0:18:51.720 --> 0:18:55.119
<v Speaker 7>very well with all these well meaning programs and so forth,

0:18:55.520 --> 0:18:59.760
<v Speaker 7>but you can't survive when you're trying to turn security

0:18:59.760 --> 0:19:06.720
<v Speaker 7>gains into actual, solidified gains overall without that kind of

0:19:06.760 --> 0:19:07.359
<v Speaker 7>soft power.

0:19:07.440 --> 0:19:09.960
<v Speaker 8>So I'm a bit concerned by that. General.

0:19:10.000 --> 0:19:10.600
<v Speaker 3>Thank you very much.

0:19:10.720 --> 0:19:11.720
<v Speaker 8>Great to be with you, David.

0:19:11.720 --> 0:19:12.000
<v Speaker 6>Thank you.

0:19:14.359 --> 0:19:17.320
<v Speaker 3>Stay with us for more on Bloomberg this weekend. Right

0:19:17.359 --> 0:19:17.880
<v Speaker 3>after this.

0:19:29.880 --> 0:19:32.399
<v Speaker 2>In a bola outbreak in Central Africa is suspected to

0:19:32.400 --> 0:19:34.639
<v Speaker 2>have killed one hundred and seventy six people, and there

0:19:34.640 --> 0:19:37.640
<v Speaker 2>are about eight hundred and thirty suspected and confirmed cases

0:19:37.720 --> 0:19:39.960
<v Speaker 2>of the deadly disease, but the head of the World

0:19:40.280 --> 0:19:43.119
<v Speaker 2>Health Organization says the scale of the epidemic in the

0:19:43.119 --> 0:19:46.680
<v Speaker 2>Democratic Republic of the Congo is much larger. The US

0:19:46.720 --> 0:19:49.760
<v Speaker 2>officially withdrew from the WHO in January, and experts say

0:19:49.800 --> 0:19:52.639
<v Speaker 2>the public health response to the outbreak has been adversely

0:19:52.680 --> 0:19:55.040
<v Speaker 2>impacted by the dismantling of usaid.

0:19:55.440 --> 0:19:58.000
<v Speaker 3>Estimates from the Institute for Health Metrics and Evaluation show

0:19:58.080 --> 0:20:01.560
<v Speaker 3>is spending on a bola related aid research and operational support,

0:20:01.600 --> 0:20:05.640
<v Speaker 3>including government funding delivered directly or through international aid organizations

0:20:05.640 --> 0:20:09.360
<v Speaker 3>fell roughly one hundred and eighty six thousand dollars last year.

0:20:09.359 --> 0:20:12.399
<v Speaker 3>That is down from about twenty three million dollars in

0:20:12.480 --> 0:20:15.439
<v Speaker 3>twenty twenty one. Jeremy conna Duct managed the US response

0:20:15.480 --> 0:20:17.760
<v Speaker 3>to the bolder outbreak in West Africa in twenty fourteen.

0:20:17.800 --> 0:20:21.320
<v Speaker 3>He had a USAID's response to COVID nineteen. Today he's

0:20:21.359 --> 0:20:24.040
<v Speaker 3>the president of Refugees International and he joins us now

0:20:24.040 --> 0:20:26.280
<v Speaker 3>here on this Saturday morning. Jeremy, great to have you

0:20:26.440 --> 0:20:27.960
<v Speaker 3>with us, and I want to start first with just

0:20:27.960 --> 0:20:30.520
<v Speaker 3>what you've observed here over the last few weeks. Christina

0:20:30.520 --> 0:20:33.119
<v Speaker 3>mentioned just a moment ago, there is concern that the

0:20:33.119 --> 0:20:34.880
<v Speaker 3>facts that we have, the data that we have, aren't

0:20:34.920 --> 0:20:37.879
<v Speaker 3>painting a complete holistic picture of how wide this outbreak is.

0:20:38.440 --> 0:20:41.679
<v Speaker 3>Your sense from your experience of how accurate that count seems.

0:20:41.440 --> 0:20:46.760
<v Speaker 9>To be, well, it's certainly an undercount. The case number

0:20:46.800 --> 0:20:49.040
<v Speaker 9>is when they announced the outbreak just over a week ago,

0:20:49.680 --> 0:20:53.080
<v Speaker 9>we're just under two hundred and fifty. Now that's pushing

0:20:53.119 --> 0:20:58.199
<v Speaker 9>eight hundred in the official count. But for cases to

0:20:58.240 --> 0:21:00.680
<v Speaker 9>go out the quickly, that's not new trends mission, that's

0:21:00.760 --> 0:21:03.320
<v Speaker 9>just beginning to get a sense of how much is

0:21:03.359 --> 0:21:05.240
<v Speaker 9>already out there, and I don't think we fully have

0:21:05.359 --> 0:21:08.440
<v Speaker 9>that sense yet. There's not a full contact tracing and

0:21:08.520 --> 0:21:11.800
<v Speaker 9>case finding operation underway yet, and so there is still

0:21:11.840 --> 0:21:13.520
<v Speaker 9>a lot out there that we're not seeing. I'm sure

0:21:13.520 --> 0:21:16.399
<v Speaker 9>it's over a thousand cases by now. It could be

0:21:16.520 --> 0:21:21.080
<v Speaker 9>multiples of that. This is already, on paper, the third

0:21:21.280 --> 0:21:25.040
<v Speaker 9>largest outbreak in history. It's well on its way probably

0:21:25.119 --> 0:21:27.960
<v Speaker 9>to becoming the second largest, given the trajectory that it's on,

0:21:28.560 --> 0:21:30.960
<v Speaker 9>and I think it's going to be exceptionally difficult to contain.

0:21:32.280 --> 0:21:35.159
<v Speaker 2>I know, you're when you're trying to fight an outbreak,

0:21:35.200 --> 0:21:37.600
<v Speaker 2>you're fighting not just a disease, but you're also fighting

0:21:37.840 --> 0:21:40.919
<v Speaker 2>misinformation and disinformation, and talk to us a little bit

0:21:40.920 --> 0:21:43.719
<v Speaker 2>about how hard that battle is as well. Because I

0:21:43.760 --> 0:21:46.000
<v Speaker 2>was reading about this crowd that set fire to one

0:21:46.040 --> 0:21:49.760
<v Speaker 2>of the few functioning hospitals that treats Bala, specifically in

0:21:49.800 --> 0:21:53.440
<v Speaker 2>the eastern DRC, and partially that was because there was mishandling.

0:21:53.480 --> 0:21:55.480
<v Speaker 2>They didn't understand why they couldn't have the body back.

0:21:55.520 --> 0:21:58.359
<v Speaker 2>There's an issue with burial customs where they're washing the

0:21:58.359 --> 0:22:00.520
<v Speaker 2>bodies and then that water is being pased surround and

0:22:00.520 --> 0:22:03.320
<v Speaker 2>it's easy transmission. How do you fight this on two fronts,

0:22:03.400 --> 0:22:04.720
<v Speaker 2>especially when you're short staffed.

0:22:05.400 --> 0:22:08.119
<v Speaker 9>It's such an important point, and it's easy to get

0:22:09.280 --> 0:22:12.320
<v Speaker 9>caught in this idea that we just need a health response,

0:22:12.359 --> 0:22:15.560
<v Speaker 9>we just need clinics. Secretary of Rubio has talked about

0:22:15.840 --> 0:22:19.520
<v Speaker 9>setting up fifty health clinics, and you know, like the

0:22:19.520 --> 0:22:21.840
<v Speaker 9>health clinic piece of this is important, it's also really

0:22:21.840 --> 0:22:25.240
<v Speaker 9>difficult to scale, and of course you need for those

0:22:25.280 --> 0:22:28.879
<v Speaker 9>clinics to mean anything, people need to have confidence that

0:22:28.920 --> 0:22:31.040
<v Speaker 9>they can use them. They have to have confidence and

0:22:31.080 --> 0:22:35.320
<v Speaker 9>trust that they will get treatment, that the treatment that

0:22:35.359 --> 0:22:38.400
<v Speaker 9>they need, and that they understand that that's what they

0:22:38.400 --> 0:22:41.040
<v Speaker 9>need to do. And that all really comes down to trust.

0:22:41.040 --> 0:22:45.120
<v Speaker 9>And so an outbreak response, the foundation of an effective

0:22:45.119 --> 0:22:49.439
<v Speaker 9>outbreak response is trust between the communities who are at

0:22:49.520 --> 0:22:53.600
<v Speaker 9>risk and the health responses. They are the operational and

0:22:53.640 --> 0:22:56.360
<v Speaker 9>health response itself. And we saw this the last time

0:22:56.400 --> 0:22:58.840
<v Speaker 9>there was a major outbreak of Ebola and Eastern Congo

0:22:59.200 --> 0:23:02.160
<v Speaker 9>that was in twenty eighteen nineteen, that was the second

0:23:02.240 --> 0:23:04.560
<v Speaker 9>largest in history after the West Africa one that I

0:23:04.560 --> 0:23:08.080
<v Speaker 9>worked on in twenty fourteen, and we saw these kinds

0:23:08.080 --> 0:23:12.600
<v Speaker 9>of patterns. It's not surprising to me that people, our

0:23:12.800 --> 0:23:16.600
<v Speaker 9>community members are behaving this way because they haven't you know,

0:23:16.600 --> 0:23:19.800
<v Speaker 9>they don't understand the disease, they're not necessarily familiar with it,

0:23:19.840 --> 0:23:22.600
<v Speaker 9>they don't necessarily believe everything they're being told. There's a

0:23:22.600 --> 0:23:25.280
<v Speaker 9>lot of skepticism. This is a part of the country

0:23:25.320 --> 0:23:28.040
<v Speaker 9>that has been affected by war for decades, that is

0:23:28.080 --> 0:23:31.320
<v Speaker 9>quite often quite hostile towards the central government, and so

0:23:31.359 --> 0:23:33.359
<v Speaker 9>when they have the Ministry of Health from the central

0:23:33.359 --> 0:23:35.760
<v Speaker 9>government telling them something, they won't necessarily take that at

0:23:35.760 --> 0:23:38.159
<v Speaker 9>face value. So that's going to be a huge healthy climb.

0:23:38.920 --> 0:23:40.840
<v Speaker 3>Jeremy, I want to ask you about the role that

0:23:40.880 --> 0:23:43.000
<v Speaker 3>the US is playing or isn't playing at this point

0:23:43.080 --> 0:23:44.960
<v Speaker 3>in time. So we've seen the US, as Christina mentioned,

0:23:44.960 --> 0:23:48.199
<v Speaker 3>withdraw from the who not playing an active role in

0:23:48.200 --> 0:23:51.240
<v Speaker 3>that organization any longer. I mentioned the last hour we

0:23:51.240 --> 0:23:54.320
<v Speaker 3>were talking to our colleague Jason Gale, who covers public health,

0:23:54.800 --> 0:23:57.439
<v Speaker 3>that we've both been kind of inundated with emails from

0:23:57.440 --> 0:23:59.200
<v Speaker 3>the State Department over the course of this last week

0:23:59.240 --> 0:24:02.359
<v Speaker 3>detailing what the US has done here, noting that the

0:24:02.400 --> 0:24:05.480
<v Speaker 3>CDC is running point here and saying that the overarching

0:24:05.480 --> 0:24:07.720
<v Speaker 3>objective here is to keep a bullet from coming in

0:24:07.840 --> 0:24:12.080
<v Speaker 3>the United States. How different is the response posture from

0:24:12.119 --> 0:24:14.480
<v Speaker 3>the US this time around than what you lived through

0:24:14.720 --> 0:24:17.760
<v Speaker 3>in twenty fourteen. Jason Gale mentioning to us that Tom Frieden.

0:24:17.480 --> 0:24:20.720
<v Speaker 6>Who ran the CDC, said that the Abola outbreak.

0:24:20.359 --> 0:24:22.639
<v Speaker 3>Was a full time job back when he was in

0:24:22.680 --> 0:24:25.679
<v Speaker 3>that position. And here we're in a position where a

0:24:25.680 --> 0:24:27.879
<v Speaker 3>lot of these key marquee positions in the public health

0:24:27.920 --> 0:24:30.359
<v Speaker 3>apparatus in the US are unfilled or filled by in

0:24:30.400 --> 0:24:31.160
<v Speaker 3>drim appointments.

0:24:32.520 --> 0:24:35.760
<v Speaker 9>Yeah, and doctor fried and I worked very closely together

0:24:35.840 --> 0:24:39.080
<v Speaker 9>on that response. We actually, early in the US response,

0:24:39.119 --> 0:24:43.600
<v Speaker 9>traveled out there together to Liberia to assess first hand

0:24:43.680 --> 0:24:47.280
<v Speaker 9>and to meet with the president of the country. There

0:24:47.320 --> 0:24:51.760
<v Speaker 9>is just dramatically less capacity in the US government to

0:24:51.960 --> 0:24:54.480
<v Speaker 9>tackle a challenge like this than there was even two

0:24:54.520 --> 0:24:57.640
<v Speaker 9>years ago. We had learned a lot of lessons from

0:24:57.640 --> 0:25:00.119
<v Speaker 9>that twenty fourteen Ey Bowl outbreak. At that t time,

0:25:00.160 --> 0:25:03.480
<v Speaker 9>of course, USA it existed, there was a very robust CDC,

0:25:03.680 --> 0:25:06.920
<v Speaker 9>we were a member of the World Health Organization, and

0:25:07.080 --> 0:25:10.000
<v Speaker 9>all of those things were really important. USAID, CDC and

0:25:10.160 --> 0:25:15.280
<v Speaker 9>who worked together hand in glove to lead the international

0:25:15.320 --> 0:25:18.919
<v Speaker 9>response to that outbreak and then reprise that again in

0:25:20.119 --> 0:25:23.159
<v Speaker 9>the large outbreak in the same area of eastern Congo

0:25:24.800 --> 0:25:30.119
<v Speaker 9>in twenty eighteen nineteen. And that's mostly gone now that

0:25:30.160 --> 0:25:34.400
<v Speaker 9>partnership CDC is a shell of what it was. Particularly

0:25:34.400 --> 0:25:37.600
<v Speaker 9>their global capabilities have really been degraded. They're still there.

0:25:37.760 --> 0:25:39.800
<v Speaker 9>I mean, look, the people are excellent, the people are

0:25:40.080 --> 0:25:44.520
<v Speaker 9>have tremendous knowledge. But will they be listened to by

0:25:45.359 --> 0:25:49.159
<v Speaker 9>the people running US health institutions right now? That's a

0:25:49.160 --> 0:25:53.119
<v Speaker 9>big question. USAID, of course, is completely gone, and the

0:25:53.200 --> 0:25:56.520
<v Speaker 9>US is no longer a member of WHO, and often

0:25:56.600 --> 0:25:59.480
<v Speaker 9>CDC staff are barred from even speaking to WHO, So

0:25:59.480 --> 0:26:01.679
<v Speaker 9>that partnership has been just demolished.

0:26:02.200 --> 0:26:04.760
<v Speaker 2>I want to read some statements, as David mentioned, we've

0:26:04.760 --> 0:26:07.080
<v Speaker 2>been getting from the State Department saying it's false to

0:26:07.080 --> 0:26:10.040
<v Speaker 2>claim that USAD reform has negatively impacted our ability to

0:26:10.080 --> 0:26:13.040
<v Speaker 2>respond to ebola. In fact, by bringing a USAAD global

0:26:13.040 --> 0:26:15.600
<v Speaker 2>health functions under a new bureau at the State Department,

0:26:15.680 --> 0:26:19.119
<v Speaker 2>our efforts are more aligned and effective. You also mentioned

0:26:19.160 --> 0:26:21.360
<v Speaker 2>on Tuesday the State Apartment announced they'd be funding these

0:26:21.359 --> 0:26:25.560
<v Speaker 2>fifty clinics to aid in the DRC. But the top

0:26:25.560 --> 0:26:27.600
<v Speaker 2>civil servant and you've gone as a Ministry of Health

0:26:27.680 --> 0:26:30.320
<v Speaker 2>said in an interview that the government was not aware of

0:26:30.359 --> 0:26:33.480
<v Speaker 2>the pledge and it wasn't immediately clear where those thirteen

0:26:33.480 --> 0:26:35.560
<v Speaker 2>million dollars were part of, where that pledge was going,

0:26:35.640 --> 0:26:38.520
<v Speaker 2>or where those clinics were being set up. Where is

0:26:38.560 --> 0:26:41.119
<v Speaker 2>the breakdown? There is this something that would usually happen

0:26:41.200 --> 0:26:44.760
<v Speaker 2>through who these organizations? What is the line of communication

0:26:45.000 --> 0:26:47.439
<v Speaker 2>and is this something you can just stand up or

0:26:47.480 --> 0:26:49.639
<v Speaker 2>does this need logistics and things on the ground that,

0:26:49.680 --> 0:26:51.160
<v Speaker 2>as we've talked about, don't really exist.

0:26:51.880 --> 0:26:52.359
<v Speaker 8>Yeah, I.

0:26:55.040 --> 0:26:58.720
<v Speaker 9>Really am disheartened by that whole exchange because you see

0:26:58.720 --> 0:27:00.800
<v Speaker 9>a few things there. At first, it was my job

0:27:00.840 --> 0:27:04.119
<v Speaker 9>in twenty fourteen to oversee the planning and development and

0:27:04.160 --> 0:27:08.280
<v Speaker 9>funding of about thirty eboa treatment units that we stood

0:27:08.359 --> 0:27:13.200
<v Speaker 9>up across Western Africa West Africa in that outbreak. Those

0:27:13.240 --> 0:27:16.919
<v Speaker 9>things were wildly expensive. It cost us hundreds of millions

0:27:16.920 --> 0:27:19.000
<v Speaker 9>of dollars to stand up and operate those things. So

0:27:19.080 --> 0:27:23.600
<v Speaker 9>thirteen million dollars is barely a start to what it's

0:27:23.600 --> 0:27:25.840
<v Speaker 9>going to cost to get this under control. But I

0:27:25.880 --> 0:27:29.240
<v Speaker 9>think and they're hugely complex. It took us months to

0:27:29.280 --> 0:27:33.919
<v Speaker 9>stand those up because ebola clinics are highly specialized, highly

0:27:33.920 --> 0:27:38.320
<v Speaker 9>specialized facilities because they are built to built around very

0:27:38.400 --> 0:27:41.080
<v Speaker 9>high end infection prevention and control, because you don't want

0:27:41.119 --> 0:27:44.120
<v Speaker 9>to enable more transmissions the whole point of those facilities.

0:27:44.160 --> 0:27:46.160
<v Speaker 9>They're very different from a normal health clinic and very

0:27:46.160 --> 0:27:49.880
<v Speaker 9>difficult to set up. But really importantly, we did all

0:27:49.960 --> 0:27:53.680
<v Speaker 9>that in close, close partnership with the ministries of health

0:27:53.720 --> 0:27:55.840
<v Speaker 9>in the countries we were working with, and the last

0:27:55.840 --> 0:27:57.800
<v Speaker 9>thing we would have ever wanted to do is catch

0:27:57.840 --> 0:28:00.199
<v Speaker 9>them off guard with an announcement. We hadn't discussed with

0:28:00.240 --> 0:28:02.880
<v Speaker 9>them first and didn't have their buy in on. So

0:28:02.920 --> 0:28:05.240
<v Speaker 9>to see that sort of an exchange between the US

0:28:05.280 --> 0:28:08.480
<v Speaker 9>Secretary of State and the and one of the affected

0:28:08.520 --> 0:28:11.879
<v Speaker 9>governments just I think speaks to the lack of coordination,

0:28:12.240 --> 0:28:15.080
<v Speaker 9>the lack of engagement between the US and those and

0:28:15.119 --> 0:28:17.800
<v Speaker 9>those governments. And again that's the sort of function that

0:28:17.920 --> 0:28:21.399
<v Speaker 9>USAID would have facilitated because there were deep, deep webs

0:28:21.600 --> 0:28:25.720
<v Speaker 9>of relationships between the USAID health personnel and those countries

0:28:25.960 --> 0:28:28.120
<v Speaker 9>and their counterparts and ministries of health. And of course

0:28:28.160 --> 0:28:28.960
<v Speaker 9>that's all gone now.

0:28:29.480 --> 0:28:31.560
<v Speaker 3>Jeremy, let me ask you as we wrap up here,

0:28:31.800 --> 0:28:34.040
<v Speaker 3>how worried you are just about the circumstances that we're

0:28:34.080 --> 0:28:38.120
<v Speaker 3>seeing in Africa right now. This is a different strain

0:28:38.160 --> 0:28:41.520
<v Speaker 3>than we've seen before. There isn't a treatment for it.

0:28:42.080 --> 0:28:43.760
<v Speaker 3>As you said that, the numbers seem to be under

0:28:43.760 --> 0:28:45.120
<v Speaker 3>counts of what's likely the case.

0:28:45.160 --> 0:28:46.719
<v Speaker 6>They're in the DRC.

0:28:48.480 --> 0:28:50.520
<v Speaker 3>How concerned are you about the state of things now

0:28:50.520 --> 0:28:52.160
<v Speaker 3>and where they're likely to go? And can you say

0:28:52.280 --> 0:28:55.200
<v Speaker 3>unequivocally that without having usaid, without having the public health

0:28:55.200 --> 0:28:57.520
<v Speaker 3>apparatus in place that we've had in the past, that's

0:28:57.680 --> 0:29:00.000
<v Speaker 3>likely to make this outbreak much much worse.

0:29:01.560 --> 0:29:04.400
<v Speaker 9>It's going to make the response much harder. And when

0:29:04.400 --> 0:29:06.640
<v Speaker 9>you have a slower and less effective response, of course

0:29:06.680 --> 0:29:09.880
<v Speaker 9>the outbreak lasts for longer, and it spreads further, and ultimately,

0:29:11.200 --> 0:29:16.600
<v Speaker 9>you know, delayed or underpowered response just makes the ultimate

0:29:16.680 --> 0:29:19.960
<v Speaker 9>job of containment harder and more expensive, more difficult, it

0:29:19.960 --> 0:29:22.480
<v Speaker 9>will take longer. I fear that's what we're going to see.

0:29:22.520 --> 0:29:26.280
<v Speaker 9>We're going into this with four strikes against us. This

0:29:26.720 --> 0:29:30.160
<v Speaker 9>outbreak has the most momentum upon discovery of any Ebola

0:29:30.160 --> 0:29:33.120
<v Speaker 9>outbreak in history. It's in eastern Congo, which is a

0:29:33.160 --> 0:29:35.800
<v Speaker 9>conflict zone with three and a half million displaced people,

0:29:35.800 --> 0:29:39.000
<v Speaker 9>and we know from the twenty eighteen nineteen outbreak. It's very,

0:29:39.080 --> 0:29:41.160
<v Speaker 9>very hard to fight ebola under those conditions that one

0:29:41.200 --> 0:29:44.480
<v Speaker 9>took two years to get under control. There are no

0:29:44.720 --> 0:29:48.520
<v Speaker 9>countermeasures and no vaccine for this, unlike the normal ebola,

0:29:48.680 --> 0:29:52.320
<v Speaker 9>not normal, but the other ebola strain that we've seen,

0:29:52.360 --> 0:29:55.720
<v Speaker 9>which is the zyre version. And of course we're doing

0:29:55.800 --> 0:29:59.160
<v Speaker 9>this without USA, without the US being part of WHO,

0:29:59.240 --> 0:30:01.080
<v Speaker 9>and with a week in CEA, so all of those

0:30:01.080 --> 0:30:02.640
<v Speaker 9>things are going to make this job much harder.

0:30:02.760 --> 0:30:04.120
<v Speaker 6>Jeremy, I hope you'll come back and we can keep

0:30:04.160 --> 0:30:04.880
<v Speaker 6>in touch throughout all of this.

0:30:05.080 --> 0:30:07.760
<v Speaker 3>Jeremy Conandaye who's the president of Refugees International with a

0:30:07.800 --> 0:30:10.680
<v Speaker 3>host of experience in public health for the US government.

0:30:10.720 --> 0:30:12.560
<v Speaker 3>Thank you very much for your time on this Saturday.

0:30:14.880 --> 0:30:17.440
<v Speaker 2>Stay with us for more on Bloomberg this weekend right

0:30:17.480 --> 0:30:18.120
<v Speaker 2>after this.

0:30:30.280 --> 0:30:33.120
<v Speaker 3>Memorial Day, marking the unofficial start of summer, and for

0:30:33.200 --> 0:30:36.840
<v Speaker 3>many Americans that means backyard cookouts, road trips, and burgers

0:30:37.360 --> 0:30:37.760
<v Speaker 3>on the grill.

0:30:37.800 --> 0:30:38.360
<v Speaker 6>I guess it means.

0:30:40.200 --> 0:30:43.120
<v Speaker 3>Restaurants across the country for one of the busiest stretches

0:30:43.120 --> 0:30:45.880
<v Speaker 3>of the year. We have Patrick Conlin, president of Wayback Burgers,

0:30:45.880 --> 0:30:47.440
<v Speaker 3>here with us on set in New York.

0:30:47.480 --> 0:30:50.760
<v Speaker 6>He's brought a bevy of burgers, chicken nuggets. What is

0:30:50.800 --> 0:30:54.080
<v Speaker 6>this light? What is this fluorescent blue drink? We've got that?

0:30:54.320 --> 0:30:55.000
<v Speaker 6>Hoist that up?

0:30:55.160 --> 0:30:57.120
<v Speaker 10>That is blue raspberry lemonade.

0:30:57.200 --> 0:30:59.000
<v Speaker 2>I don't think that color is found in nation, but

0:30:59.040 --> 0:31:00.720
<v Speaker 2>I'm excited to buy I did to have it.

0:31:00.880 --> 0:31:03.760
<v Speaker 10>That's to celebrate America's two hundred and fiftieth anniversary.

0:31:03.920 --> 0:31:05.720
<v Speaker 3>Let me just ask you first a broad questions about

0:31:05.760 --> 0:31:07.719
<v Speaker 3>how the burger biz is doing. We hear a lot

0:31:07.760 --> 0:31:10.760
<v Speaker 3>of talk of the k shaped economy. Obviously a lot

0:31:10.800 --> 0:31:13.160
<v Speaker 3>of people understrained because of rising energy prices. How's the

0:31:13.200 --> 0:31:15.160
<v Speaker 3>business doing in light of all that? How's the consumer doing?

0:31:15.160 --> 0:31:16.000
<v Speaker 3>As you see him and her?

0:31:16.080 --> 0:31:16.600
<v Speaker 6>Still well?

0:31:16.640 --> 0:31:18.760
<v Speaker 10>I mean we took a it was a little slow

0:31:18.920 --> 0:31:21.080
<v Speaker 10>last year and coming into this year, but our sales

0:31:21.120 --> 0:31:26.000
<v Speaker 10>at way back have been up since March. And people

0:31:26.000 --> 0:31:30.360
<v Speaker 10>love burgers just a nostalgic feel. And this weekend starts

0:31:30.560 --> 0:31:33.520
<v Speaker 10>really the kickoff, like you mentioned earlier, for the burger season.

0:31:33.760 --> 0:31:35.480
<v Speaker 2>Where are you guys most located and where are your

0:31:35.480 --> 0:31:37.600
<v Speaker 2>big markets? Are there specific places we were seeing people

0:31:37.600 --> 0:31:40.400
<v Speaker 2>are really going all in on fast food again, Well.

0:31:40.240 --> 0:31:43.480
<v Speaker 10>We're fast casual, so a little bit, a little bit

0:31:44.280 --> 0:31:47.800
<v Speaker 10>higher quality, a nicer atmosphere, better experience. We may have

0:31:47.840 --> 0:31:50.160
<v Speaker 10>a relationship with the guests, but we have We're in

0:31:50.200 --> 0:31:56.920
<v Speaker 10>thirty five states across the US, big concentration in the northeast, southeast, Southwest,

0:31:57.440 --> 0:32:01.240
<v Speaker 10>and we just opened up our in our thirty fifth state.

0:32:01.280 --> 0:32:03.000
<v Speaker 10>We just opened up in Iowa a couple.

0:32:02.880 --> 0:32:03.320
<v Speaker 6>Of weeks ago.

0:32:03.640 --> 0:32:05.440
<v Speaker 2>I Fast Casual had a bit of a slump too.

0:32:05.600 --> 0:32:07.400
<v Speaker 2>For a minute, there are you. Are you seeing a

0:32:07.440 --> 0:32:10.080
<v Speaker 2>rebound or did that impact you? I mean, I know

0:32:10.760 --> 0:32:13.719
<v Speaker 2>we joke the slot bowl places like Chipotle and Kava

0:32:13.800 --> 0:32:16.280
<v Speaker 2>and anything that comes in a bowl was having a

0:32:16.280 --> 0:32:18.920
<v Speaker 2>really hard time. Did you see that slump as well?

0:32:19.120 --> 0:32:20.880
<v Speaker 2>Or did you feel like you guys were in a

0:32:20.880 --> 0:32:23.400
<v Speaker 2>good sweet spot where it's it's a product everybody knows,

0:32:23.400 --> 0:32:25.760
<v Speaker 2>but in as slightly as you say, elevated place to be.

0:32:26.280 --> 0:32:29.560
<v Speaker 10>Yeah, we saw it. I mean no question that the

0:32:29.560 --> 0:32:32.480
<v Speaker 10>consumers were looking for a value. But value is also

0:32:32.520 --> 0:32:36.000
<v Speaker 10>a better product. So we did some things late last

0:32:36.080 --> 0:32:39.480
<v Speaker 10>year to enhance a value proposition for the guests that

0:32:39.520 --> 0:32:41.040
<v Speaker 10>come into our restaurants.

0:32:40.760 --> 0:32:42.080
<v Speaker 6>And continue that today.

0:32:42.800 --> 0:32:43.360
<v Speaker 2>What did you do?

0:32:43.840 --> 0:32:48.560
<v Speaker 10>We did some meal deals and we introduced wraps for

0:32:48.760 --> 0:32:51.520
<v Speaker 10>a short time, limited time offer, which was a lower

0:32:51.520 --> 0:32:56.040
<v Speaker 10>priced item, and then just recently we introduced the chicken nuggets.

0:32:56.040 --> 0:32:59.080
<v Speaker 10>Even though we're a burger chain, and I think you're

0:32:59.240 --> 0:33:00.800
<v Speaker 10>enjoying those on a more ay weekend.

0:33:00.840 --> 0:33:02.920
<v Speaker 2>It's someone who doesn't need beef. I appreciate it your.

0:33:02.840 --> 0:33:06.000
<v Speaker 4>Nuggets, breakfast nugget Lisa about this beef, because I mean,

0:33:06.120 --> 0:33:12.240
<v Speaker 4>this is hardy burger and I know I go to

0:33:12.240 --> 0:33:14.800
<v Speaker 4>the supermarket. I slat burgers on the grill. They're not cheap.

0:33:14.800 --> 0:33:21.600
<v Speaker 4>Nowadays they've gone up in price. So how are you guys?

0:33:22.840 --> 0:33:23.160
<v Speaker 6>Protein?

0:33:23.240 --> 0:33:25.880
<v Speaker 4>But it's they're not cheap and the prices have gone up,

0:33:25.920 --> 0:33:27.920
<v Speaker 4>So how do you deal with that? Do you have

0:33:28.000 --> 0:33:29.560
<v Speaker 4>to pass the price onto the consumer?

0:33:29.760 --> 0:33:30.400
<v Speaker 11>How are you working?

0:33:30.720 --> 0:33:32.680
<v Speaker 10>You have to pass some of the price onto the consumer,

0:33:33.560 --> 0:33:36.360
<v Speaker 10>but sometimes sometimes you may have to eat a little

0:33:36.360 --> 0:33:40.280
<v Speaker 10>bit of it. We've been very lucky with our beef

0:33:40.320 --> 0:33:44.200
<v Speaker 10>supplier that this year there was a minimal increase so

0:33:44.360 --> 0:33:47.200
<v Speaker 10>it didn't hurt our franchisees and we didn't really pass

0:33:47.480 --> 0:33:50.000
<v Speaker 10>a large price increase onto the consumer.

0:33:50.240 --> 0:33:51.880
<v Speaker 6>In twenty twenty six, I've.

0:33:51.720 --> 0:33:54.960
<v Speaker 3>Got a question just about Please Lisa, take your time

0:33:55.200 --> 0:33:58.440
<v Speaker 3>keeps the camera camera trained on Lisa for that one.

0:33:59.360 --> 0:34:01.080
<v Speaker 3>My goodness, we have seen maybe not one of your

0:34:01.080 --> 0:34:03.920
<v Speaker 3>direct competitors, a fast food chane that has a king

0:34:03.960 --> 0:34:06.560
<v Speaker 3>as a mascot, do a very public campaigns and they're

0:34:06.560 --> 0:34:08.920
<v Speaker 3>reinventing themselves, reinventing what the burger is and how it's

0:34:08.920 --> 0:34:11.319
<v Speaker 3>cooked and what people think they're getting there in the

0:34:11.360 --> 0:34:13.480
<v Speaker 3>industry broadly, how much does that happen? I mean, you're

0:34:13.480 --> 0:34:15.399
<v Speaker 3>holding on to a lot of nostalgia the way things happen.

0:34:15.480 --> 0:34:17.880
<v Speaker 3>People go to you for a certain reason when you

0:34:17.920 --> 0:34:20.319
<v Speaker 3>introduce something like wraps or chicken nuggets. How much thought

0:34:20.320 --> 0:34:22.959
<v Speaker 3>do you put into branching out into something that people

0:34:23.040 --> 0:34:24.919
<v Speaker 3>might not know you for. And is there a chance

0:34:24.920 --> 0:34:26.920
<v Speaker 3>that that as you move away from your core business

0:34:26.960 --> 0:34:27.800
<v Speaker 3>that that could backfire.

0:34:27.920 --> 0:34:30.680
<v Speaker 10>Sure, we have to be very careful about what we

0:34:30.760 --> 0:34:33.840
<v Speaker 10>introduce that is not one of our core items, and

0:34:33.960 --> 0:34:36.880
<v Speaker 10>we do a lot of research throughout the year of

0:34:36.920 --> 0:34:40.440
<v Speaker 10>what's trending. We don't look to be the trendiest restaurant

0:34:40.440 --> 0:34:43.080
<v Speaker 10>company out there, but we want to look at what's

0:34:43.120 --> 0:34:45.800
<v Speaker 10>on trend, So we'll look at things like chicken nuggets,

0:34:45.840 --> 0:34:49.759
<v Speaker 10>We'll look at the wraps as a value proposition. Do

0:34:49.800 --> 0:34:52.719
<v Speaker 10>you where are we ever going to bring in, you know,

0:34:52.800 --> 0:34:56.120
<v Speaker 10>some crazy, really out of the box item.

0:34:56.160 --> 0:34:59.719
<v Speaker 6>I don't think so. Keen wa bulls, Yeah, probably Okay, No, te,

0:35:00.080 --> 0:35:00.959
<v Speaker 6>We're still okay.

0:35:01.040 --> 0:35:03.240
<v Speaker 10>Even though we have chicken on our menu, We're still

0:35:03.280 --> 0:35:05.840
<v Speaker 10>eighty five percent of our entrees or burgrasy.

0:35:06.640 --> 0:35:10.719
<v Speaker 2>Margins in the restaurant business are legendarily thin. As you

0:35:10.760 --> 0:35:12.960
<v Speaker 2>look at the year, you know, obviously we're bloomberg, and

0:35:13.000 --> 0:35:15.840
<v Speaker 2>we talk about money and economics and what's going on

0:35:15.920 --> 0:35:19.080
<v Speaker 2>in the least impacts everything. The downstream effect is going

0:35:19.120 --> 0:35:20.440
<v Speaker 2>to happen. I don't know if you've seen that yet,

0:35:20.440 --> 0:35:23.000
<v Speaker 2>but you know we're going into planting seasons where farmers

0:35:23.040 --> 0:35:24.880
<v Speaker 2>are going to have to pay more for fertilizer. I

0:35:24.920 --> 0:35:27.920
<v Speaker 2>know you have transportation costs, that's fuel. What are you

0:35:27.960 --> 0:35:29.520
<v Speaker 2>worried about? What are you looking? Where are you kind

0:35:29.520 --> 0:35:31.000
<v Speaker 2>of already seeing those prices spike?

0:35:31.320 --> 0:35:34.160
<v Speaker 10>So far, we haven't seen anything spike. We lock into

0:35:34.640 --> 0:35:38.680
<v Speaker 10>the majority of our our core items that we sell

0:35:38.719 --> 0:35:41.400
<v Speaker 10>in the restaurants or locked in on yearly contracts, ok,

0:35:41.600 --> 0:35:43.960
<v Speaker 10>so that we do before the beginning of the year,

0:35:44.360 --> 0:35:47.920
<v Speaker 10>So we're good for this year. Unless there's a fuel

0:35:47.960 --> 0:35:51.000
<v Speaker 10>surch charge could could happen on the on the the

0:35:51.040 --> 0:35:54.239
<v Speaker 10>food distributor to the restaurant, which would one or two.

0:35:54.200 --> 0:35:56.799
<v Speaker 6>Dollars a delivery. So not a huge impact. Yet.

0:35:57.640 --> 0:36:00.760
<v Speaker 10>The more concern is the impact on the consumer coming

0:36:00.760 --> 0:36:03.080
<v Speaker 10>into the restaurant and if you're paying X amount more

0:36:03.120 --> 0:36:05.920
<v Speaker 10>for gas today, are you going to cut back.

0:36:05.760 --> 0:36:07.560
<v Speaker 6>On what you're going to eat?

0:36:07.920 --> 0:36:10.960
<v Speaker 10>So so far, Lockwood, it hasn't affected us. I think

0:36:11.000 --> 0:36:14.279
<v Speaker 10>it more affects people in coffee business. And you can

0:36:14.280 --> 0:36:16.960
<v Speaker 10>cut out going out and getting a coffee a couple

0:36:17.000 --> 0:36:19.680
<v Speaker 10>of days a week, or an ice cream coling, you

0:36:19.680 --> 0:36:21.360
<v Speaker 10>still have to eat lunch, you still have to eat dinner.

0:36:21.520 --> 0:36:22.839
<v Speaker 3>And I go back to something you said the top,

0:36:22.880 --> 0:36:24.640
<v Speaker 3>which is the start of burger season. So we have

0:36:24.680 --> 0:36:26.759
<v Speaker 3>this conceit here Memorial Day, people are out grilling. A

0:36:26.840 --> 0:36:29.759
<v Speaker 3>season starts. Is that born out in your business? Is

0:36:29.760 --> 0:36:32.560
<v Speaker 3>there a seasonality to the fast casual business or do

0:36:32.600 --> 0:36:35.040
<v Speaker 3>you see kind of a constant trend of customers throughout

0:36:35.040 --> 0:36:35.319
<v Speaker 3>the year.

0:36:35.560 --> 0:36:38.600
<v Speaker 10>The constant trend really, our business starts picking up right

0:36:38.640 --> 0:36:42.279
<v Speaker 10>after Valentine's Day and goes through October and then the

0:36:42.640 --> 0:36:44.960
<v Speaker 10>holidays dip down a little bit and then we wait

0:36:44.960 --> 0:36:48.359
<v Speaker 10>for Valentine's Day again.

0:36:47.239 --> 0:36:48.480
<v Speaker 11>I asked about the chicken.

0:36:50.040 --> 0:36:52.160
<v Speaker 6>I was just meeking for that to happen. I'm glad.

0:36:52.680 --> 0:36:54.320
<v Speaker 6>Tell us how the burger, how's the burger?

0:36:54.560 --> 0:36:56.560
<v Speaker 11>The burgers phenomenal, But you mentioned chicken?

0:36:56.600 --> 0:37:00.600
<v Speaker 4>So is that more of more pressure because we hear

0:37:00.600 --> 0:37:03.279
<v Speaker 4>about the chicken wars, you know everything between Chick fil

0:37:03.280 --> 0:37:04.080
<v Speaker 4>a and the Popeyes.

0:37:04.280 --> 0:37:05.879
<v Speaker 11>That's the big thing. Was that the.

0:37:05.840 --> 0:37:07.799
<v Speaker 4>Pressure you about to kind of bring you know what?

0:37:08.160 --> 0:37:10.200
<v Speaker 4>Or did it come from your your customers and said, you.

0:37:10.200 --> 0:37:12.080
<v Speaker 2>Know or is it annoying people like me who can't

0:37:12.080 --> 0:37:12.399
<v Speaker 2>eat beef?

0:37:12.480 --> 0:37:14.200
<v Speaker 6>And good point.

0:37:14.239 --> 0:37:16.200
<v Speaker 10>We we didn't want to be even though we're way

0:37:16.200 --> 0:37:18.920
<v Speaker 10>back burgers, we didn't want to be solely that narrowly

0:37:18.960 --> 0:37:22.120
<v Speaker 10>focused on burgers. Because if there's a people in an

0:37:22.120 --> 0:37:24.400
<v Speaker 10>office of four people and three people want to go

0:37:24.440 --> 0:37:27.239
<v Speaker 10>for burgers, and one person says, I don't I had

0:37:27.239 --> 0:37:29.359
<v Speaker 10>a burger yesterday or I don't eat burgers, they could

0:37:29.360 --> 0:37:30.600
<v Speaker 10>sway the other three people.

0:37:31.040 --> 0:37:32.880
<v Speaker 6>So we wanted to have that.

0:37:32.960 --> 0:37:34.600
<v Speaker 10>We didn't want to get that veto vote, So we

0:37:34.640 --> 0:37:36.439
<v Speaker 10>wanted to have We've always had chicken on the menu.

0:37:36.760 --> 0:37:39.000
<v Speaker 10>We used to have chicken. We have a chicken sandwich,

0:37:39.360 --> 0:37:43.080
<v Speaker 10>and we have we had chicken tenders. But then one

0:37:43.120 --> 0:37:46.200
<v Speaker 10>of our longtime vendors came to us with a whole

0:37:46.280 --> 0:37:51.200
<v Speaker 10>meat chicken nugget, and that's a whole white breast meat.

0:37:51.480 --> 0:37:54.880
<v Speaker 10>So I couldn't stop eating them. When we tested them in.

0:37:54.880 --> 0:38:00.000
<v Speaker 2>The front, we had about thirty seconds. What's your favorite

0:38:00.200 --> 0:38:01.560
<v Speaker 2>menu item? Was the thing you'd like to eat?

0:38:01.760 --> 0:38:04.920
<v Speaker 10>My favorite menu item is either the classic that that

0:38:04.960 --> 0:38:09.120
<v Speaker 10>you're eating today, way back classic, or usually any one

0:38:09.160 --> 0:38:11.520
<v Speaker 10>of our lt O burgers, a limited time offer burgers

0:38:11.520 --> 0:38:13.399
<v Speaker 10>that were that we come out with. We just came

0:38:13.440 --> 0:38:16.160
<v Speaker 10>off of Sweet and Spicy Melt, which was a double

0:38:16.840 --> 0:38:21.400
<v Speaker 10>double patty burger with pepper jack cheese and a pineapple jam.

0:38:21.480 --> 0:38:23.680
<v Speaker 6>All right, thank you very much for coming and thanks

0:38:23.719 --> 0:38:24.239
<v Speaker 6>for bringing all this.

0:38:24.280 --> 0:38:27.960
<v Speaker 3>If Lisa drinks this this blue drink, that'll really be something.

0:38:27.719 --> 0:38:28.200
<v Speaker 6>To be bold.

0:38:29.560 --> 0:38:33.239
<v Speaker 4>Stay with us for more on Bloomberg this weekend. Right

0:38:33.280 --> 0:38:45.759
<v Speaker 4>after this, all.

0:38:45.800 --> 0:38:47.640
<v Speaker 2>Right, welcome back now for this weekend.

0:38:47.680 --> 0:38:50.480
<v Speaker 6>Have you had that drink yet, either of you?

0:38:50.520 --> 0:38:50.840
<v Speaker 3>No?

0:38:50.840 --> 0:38:51.080
<v Speaker 8>No?

0:38:53.640 --> 0:38:58.480
<v Speaker 2>For this weekend's point of news, Quarz, it's tasty, it's

0:38:58.560 --> 0:39:01.000
<v Speaker 2>very sweet. I also have my own support French Fries.

0:39:01.719 --> 0:39:04.080
<v Speaker 2>Lisa is going to go through our point of news

0:39:04.160 --> 0:39:06.720
<v Speaker 2>quiz and I'm going to try to retain my streak

0:39:06.760 --> 0:39:07.680
<v Speaker 2>of beating David Garratt.

0:39:07.800 --> 0:39:09.239
<v Speaker 6>I think that streak has been broken in recent weeks.

0:39:09.239 --> 0:39:09.920
<v Speaker 6>It's not been good.

0:39:09.920 --> 0:39:13.600
<v Speaker 11>It's not been a good ride. So Lisa Regain, I'm

0:39:13.640 --> 0:39:14.600
<v Speaker 11>gonna I'm gonna hook you up.

0:39:14.719 --> 0:39:16.319
<v Speaker 2>So women on the show, I need to I need

0:39:16.400 --> 0:39:18.319
<v Speaker 2>to like tellpaf me some power.

0:39:18.360 --> 0:39:21.520
<v Speaker 11>Okay, here we go, three categories. Are you ready? If

0:39:21.560 --> 0:39:24.080
<v Speaker 11>you're playing at home? We asked them three categories.

0:39:24.120 --> 0:39:25.799
<v Speaker 4>They have thirty chips in front of them and they

0:39:25.840 --> 0:39:28.799
<v Speaker 4>place their bets depending on how confident they feel about

0:39:28.800 --> 0:39:29.520
<v Speaker 4>each category.

0:39:29.640 --> 0:39:31.560
<v Speaker 11>All right, so the first category is.

0:39:31.920 --> 0:39:36.359
<v Speaker 4>Retail retail, okay, second is crypto, and the third.

0:39:36.280 --> 0:39:38.120
<v Speaker 11>Is obituary obituaries.

0:39:38.280 --> 0:39:38.440
<v Speaker 1>Yeah.

0:39:38.560 --> 0:39:40.080
<v Speaker 6>Ending on a high note, Lisa.

0:39:39.800 --> 0:39:42.680
<v Speaker 11>Now you've had this like streak where you go ten

0:39:42.719 --> 0:39:43.319
<v Speaker 11>across the board.

0:39:43.400 --> 0:39:46.480
<v Speaker 6>Yeah, and it's with that I think it isn't working.

0:39:46.520 --> 0:39:46.960
<v Speaker 6>And now there.

0:39:48.880 --> 0:39:52.000
<v Speaker 3>And I'm going to emulate it thus because it actually

0:39:52.000 --> 0:39:56.440
<v Speaker 3>has boosted my confidence greatly and I have woncal support.

0:39:56.440 --> 0:39:56.799
<v Speaker 11>French Frise.

0:39:56.840 --> 0:39:57.520
<v Speaker 2>You can't hurt me today.

0:39:57.840 --> 0:39:58.239
<v Speaker 6>What we got?

0:39:58.440 --> 0:40:02.240
<v Speaker 4>Okay, let's start with retail tail Chinese e commerce giant.

0:40:02.520 --> 0:40:06.440
<v Speaker 4>She is acquiring which San Francisco based retailer for one

0:40:06.520 --> 0:40:08.440
<v Speaker 4>hundred million dollars.

0:40:08.440 --> 0:40:10.920
<v Speaker 2>Like David knows this one to you were just talking

0:40:10.920 --> 0:40:14.080
<v Speaker 2>about this and I was, it's a segment on this.

0:40:14.080 --> 0:40:15.919
<v Speaker 4>This is like the fight in my house, I say,

0:40:15.960 --> 0:40:18.120
<v Speaker 4>she and my daughter says, no, it's cheane, No, it's

0:40:18.239 --> 0:40:19.200
<v Speaker 4>s Yeah.

0:40:19.239 --> 0:40:19.879
<v Speaker 11>I think that's right.

0:40:20.000 --> 0:40:20.400
<v Speaker 2>Correct.

0:40:20.520 --> 0:40:23.200
<v Speaker 6>Mama's always here's mama maeo over here.

0:40:24.840 --> 0:40:27.160
<v Speaker 4>Let's flip it and see if you guys ever, very

0:40:27.320 --> 0:40:30.279
<v Speaker 4>every I have it. They're buying you for about one

0:40:30.320 --> 0:40:32.960
<v Speaker 4>hundred million dollars because I confess I don't know.

0:40:32.960 --> 0:40:35.839
<v Speaker 2>What it was really a couple of years ago, and

0:40:35.880 --> 0:40:38.360
<v Speaker 2>it's it's big thing with sustainable fashion, and it's gotten

0:40:38.440 --> 0:40:40.840
<v Speaker 2>less and less sustainable on the quality in my opinion

0:40:40.920 --> 0:40:42.359
<v Speaker 2>as someone who used to buy it has gone down

0:40:42.400 --> 0:40:44.840
<v Speaker 2>a lot, and now they are selling to one of

0:40:44.880 --> 0:40:47.600
<v Speaker 2>the most legendarily unsustainable is.

0:40:47.920 --> 0:40:49.200
<v Speaker 6>Yeah, I know the buzzwords.

0:40:49.480 --> 0:40:51.880
<v Speaker 2>You're doing so well. It's a very it's a very convers.

0:40:52.680 --> 0:40:55.120
<v Speaker 6>You're sad about that you're a couple of years ago.

0:40:55.560 --> 0:40:58.399
<v Speaker 2>Brief have surpassed as to most of my friends, so

0:40:58.960 --> 0:40:59.520
<v Speaker 2>good luck to them.

0:41:00.320 --> 0:41:02.360
<v Speaker 11>We've got packages.

0:41:01.880 --> 0:41:05.919
<v Speaker 6>Coming far flung cities in China.

0:41:06.000 --> 0:41:07.200
<v Speaker 11>All right, it is all.

0:41:07.160 --> 0:41:11.399
<v Speaker 4>Right, you running go to crypto you're feel you're feeling good, okay, okay, oh,

0:41:11.400 --> 0:41:14.920
<v Speaker 4>here we go. Before Bitcoin Depot had filed for bankruptcy,

0:41:14.960 --> 0:41:18.600
<v Speaker 4>it was once North America's largest operator of which crypto

0:41:18.760 --> 0:41:20.000
<v Speaker 4>transaction tool?

0:41:20.840 --> 0:41:23.719
<v Speaker 11>What's the name of that tool? I thought that wing.

0:41:24.040 --> 0:41:27.360
<v Speaker 6>Yes, crypto transaction tool.

0:41:27.640 --> 0:41:31.480
<v Speaker 4>Yes, the largest operator of which crypto transaction?

0:41:31.560 --> 0:41:34.560
<v Speaker 3>All right, whatever, fine, all right, you want to try

0:41:34.560 --> 0:41:35.319
<v Speaker 3>it again?

0:41:35.320 --> 0:41:38.640
<v Speaker 11>Blockchain, blockchain, no Christina ATMs.

0:41:38.160 --> 0:41:41.239
<v Speaker 2>Yes, it is it that people just don't need it

0:41:41.280 --> 0:41:42.240
<v Speaker 2>to be cash anymore.

0:41:42.320 --> 0:41:44.160
<v Speaker 11>They were the largest operator crypto ATMs.

0:41:44.440 --> 0:41:46.960
<v Speaker 3>You know, I've always enjoyed seeing those and wonder who

0:41:46.960 --> 0:41:47.759
<v Speaker 3>actually uses them.

0:41:48.760 --> 0:41:51.360
<v Speaker 4>They're just saying the business model is not sustainable anymore.

0:41:51.560 --> 0:41:52.440
<v Speaker 6>So well I.

0:41:52.360 --> 0:41:54.279
<v Speaker 3>Could have told them that. Nobody asked me. I use

0:41:54.280 --> 0:41:56.880
<v Speaker 3>an ATM all the time. I don't use like a bitcoin.

0:41:56.520 --> 0:41:59.760
<v Speaker 2>ATM though exactly us carry cash like regularly.

0:42:00.200 --> 0:42:02.799
<v Speaker 3>Yeah, we got a tip, A couple bucks for tip.

0:42:02.880 --> 0:42:04.799
<v Speaker 3>My kid goes to lunch. I have to pay for

0:42:04.840 --> 0:42:06.799
<v Speaker 3>his out to lunch.

0:42:07.160 --> 0:42:10.120
<v Speaker 11>Yes, oh wow, oh, just uses the Apple.

0:42:09.880 --> 0:42:14.440
<v Speaker 3>Pitch, slippery slippery slope. We got to learn how to

0:42:14.480 --> 0:42:16.960
<v Speaker 3>tell time. We talked about that earlier with an analog watch.

0:42:17.480 --> 0:42:19.360
<v Speaker 3>And you got to learn how to count your change

0:42:19.960 --> 0:42:21.880
<v Speaker 3>or you can be taken advantage of in a retail setting.

0:42:22.000 --> 0:42:22.760
<v Speaker 11>This is a good point.

0:42:23.160 --> 0:42:24.919
<v Speaker 2>All right, we're easy.

0:42:24.920 --> 0:42:26.799
<v Speaker 6>Sorry I lost that one. Take those towns.

0:42:27.360 --> 0:42:28.759
<v Speaker 2>Oh no, you lost, you lost?

0:42:29.760 --> 0:42:33.759
<v Speaker 11>Okay, that's right, that's right to be all right, Okay, Okay,

0:42:33.760 --> 0:42:34.160
<v Speaker 11>here you go.

0:42:34.280 --> 0:42:35.319
<v Speaker 6>Obituary that one.

0:42:35.480 --> 0:42:36.320
<v Speaker 2>Not feeling good about.

0:42:36.120 --> 0:42:38.120
<v Speaker 11>This, okay, obituaries.

0:42:38.120 --> 0:42:38.440
<v Speaker 2>Here we go.

0:42:38.680 --> 0:42:43.080
<v Speaker 4>Democratic Representative Barney Frank died on May twentieth. What year

0:42:43.640 --> 0:42:45.920
<v Speaker 4>was he first elected to Congress?

0:42:45.920 --> 0:42:46.640
<v Speaker 6>That's ridiculous.

0:42:47.200 --> 0:42:49.719
<v Speaker 4>Okay, it was an easier question, but they changed to

0:42:49.719 --> 0:42:51.239
<v Speaker 4>make it harder for you guys.

0:42:51.160 --> 0:42:51.879
<v Speaker 6>Control room.

0:42:53.960 --> 0:42:54.759
<v Speaker 7>What year?

0:42:55.480 --> 0:42:57.920
<v Speaker 4>Okay, I can accept two answers.

0:42:57.920 --> 0:42:58.760
<v Speaker 6>Did you answer?

0:42:59.080 --> 0:42:59.520
<v Speaker 2>Absolutely?

0:42:59.680 --> 0:43:02.640
<v Speaker 4>If you get close to it, maybe I'll throw you

0:43:02.760 --> 0:43:03.439
<v Speaker 4>a trip or two.

0:43:03.520 --> 0:43:05.360
<v Speaker 6>Okay, great, I'm ready.

0:43:05.760 --> 0:43:08.200
<v Speaker 2>Nineteen seventy eight, nineteen eighty seven.

0:43:08.320 --> 0:43:12.120
<v Speaker 4>Oh it's nineteen eighty very close.

0:43:12.200 --> 0:43:15.120
<v Speaker 3>This is like if we're a competing game show. I

0:43:15.160 --> 0:43:17.480
<v Speaker 3>got the lower number, you know, it's like the one dollar.

0:43:17.920 --> 0:43:18.840
<v Speaker 2>Just give me your chips.

0:43:19.480 --> 0:43:22.640
<v Speaker 4>So the election it was actually nineteen eighty began the

0:43:22.719 --> 0:43:25.879
<v Speaker 4>term in January third, nineteen eighty one, so either one

0:43:25.920 --> 0:43:26.600
<v Speaker 4>I would have taken.

0:43:26.719 --> 0:43:28.439
<v Speaker 11>Well, who do we got here? Closing?

0:43:28.480 --> 0:43:31.520
<v Speaker 4>Okay, Christina's up up, up up, all right, we got aut.

0:43:31.320 --> 0:43:33.320
<v Speaker 11>We've got the bonus, and it's beauty girl.

0:43:33.560 --> 0:43:38.759
<v Speaker 3>Yes, Sar David, I can't wait for we'll get a

0:43:38.840 --> 0:43:40.839
<v Speaker 3>landa papina back. We'll do like an investigation of the

0:43:41.200 --> 0:43:43.920
<v Speaker 3>dramatic collusion that's been happening in this game, like.

0:43:44.440 --> 0:43:45.280
<v Speaker 6>We'll get the equities.

0:43:46.600 --> 0:43:48.280
<v Speaker 11>We're happy. We got burgers and fries.

0:43:48.600 --> 0:43:53.800
<v Speaker 4>Beauty okay, South Korean beauty giant, What Young is coming

0:43:53.880 --> 0:43:57.400
<v Speaker 4>to the US. Its name contains a food that comes

0:43:57.440 --> 0:43:59.799
<v Speaker 4>in men's andanila variety.

0:44:00.719 --> 0:44:01.560
<v Speaker 2>Hey, that comes and what.

0:44:03.520 --> 0:44:06.040
<v Speaker 11>It comes in a man's vanilla variety.

0:44:07.360 --> 0:44:10.280
<v Speaker 2>I have absolutely no beauty giant.

0:44:10.560 --> 0:44:15.040
<v Speaker 4>Blank Young Okay, Okay, No, they didn't I know it's

0:44:15.160 --> 0:44:15.640
<v Speaker 4>I didn't know.

0:44:15.680 --> 0:44:17.920
<v Speaker 3>I feel I'm gonna I'm gonna write coming to the

0:44:18.440 --> 0:44:19.880
<v Speaker 3>face face beauty.

0:44:20.160 --> 0:44:22.760
<v Speaker 4>No, no, no, no, oh, she's a racing she's a racing.

0:44:22.880 --> 0:44:25.480
<v Speaker 4>Wait wait, you can't erase you show yours already.

0:44:25.719 --> 0:44:26.120
<v Speaker 6>I'm done.

0:44:27.920 --> 0:44:32.280
<v Speaker 11>No Illive Young, olive and olives no, no, no, nothing

0:44:32.320 --> 0:44:35.279
<v Speaker 11>but happy. Happy to have some more beauty, man, I know,

0:44:35.360 --> 0:44:36.080
<v Speaker 11>more k beauty.

0:44:36.080 --> 0:44:38.640
<v Speaker 6>All right, well, we're gonna forget this happened.

0:44:38.920 --> 0:44:44.760
<v Speaker 11>But I'm gonna put.

0:44:44.520 --> 0:44:47.000
<v Speaker 2>My Neon orange chips for our radio listeners next to

0:44:47.080 --> 0:44:49.279
<v Speaker 2>my Neon blue soda and I'm going to take a

0:44:49.360 --> 0:44:49.919
<v Speaker 2>victory sip.

0:44:50.520 --> 0:44:51.319
<v Speaker 11>There we go.

0:44:51.640 --> 0:44:55.080
<v Speaker 6>We're gonna check your Thank you very much, all right,

0:44:55.160 --> 0:44:55.600
<v Speaker 6>you enjoy.

0:44:55.960 --> 0:44:58.520
<v Speaker 3>You can test your knowledge on all ten questions. If

0:44:58.520 --> 0:45:00.279
<v Speaker 3>these three were enough, there are seven more. Take the

0:45:00.320 --> 0:45:03.120
<v Speaker 3>point of News quiz at bloomberg dot com. Slash pointed.

0:45:05.719 --> 0:45:08.680
<v Speaker 2>Thanks for joining us on today's Bloomberg This Weekend podcast.

0:45:08.800 --> 0:45:11.080
<v Speaker 2>Don't forget to tune in live for the show every

0:45:11.080 --> 0:45:13.760
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<v Speaker 3>We're on Bloomberg Television Radio and the Bloomberg Business App,

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