1 00:00:02,960 --> 00:00:06,320 Speaker 1: Global business news twenty four hours a day at Bloomberg 2 00:00:06,400 --> 00:00:09,480 Speaker 1: dot Com, the Radio plus mobile LAP and on your radio. 3 00:00:09,760 --> 00:00:13,840 Speaker 1: This is a Bloomberg Business Flash from Bloomberg World Headquarters. 4 00:00:13,840 --> 00:00:16,520 Speaker 1: I'm Katherine Cottery. We checked the Marcus every fifteen minutes 5 00:00:16,560 --> 00:00:18,920 Speaker 1: throughout the trading day. Let's go over to the First 6 00:00:18,920 --> 00:00:22,400 Speaker 1: Word Breaking news desk for today's afternoon call with Bill Maloney. 7 00:00:22,440 --> 00:00:30,600 Speaker 1: Bill cately lowered by a hundred and three points, subs 8 00:00:30,640 --> 00:00:34,240 Speaker 1: drop sixteen and NAZAC is lower by forty one, small 9 00:00:34,240 --> 00:00:37,040 Speaker 1: cap six hundred drops six points, and the US ten 10 00:00:37,159 --> 00:00:40,559 Speaker 1: yield falls to one point eight two per cent. Nine 11 00:00:40,560 --> 00:00:42,960 Speaker 1: out of tennis V sectors are lower, led by losses 12 00:00:43,000 --> 00:00:46,959 Speaker 1: in healthcare, technology and the materials small gains and consumer 13 00:00:47,000 --> 00:00:50,480 Speaker 1: discretionary down. Transports are down a hundred and twenty points 14 00:00:50,520 --> 00:00:53,160 Speaker 1: and as a biotext to client one, and the VIX 15 00:00:53,400 --> 00:00:56,840 Speaker 1: is higher by ten percent. Down Leaders to the downside 16 00:00:56,840 --> 00:01:03,560 Speaker 1: included Walmart, Intel, and Cisco, ump Nike led to the upside. Stereocycle, Seagate, 17 00:01:03,600 --> 00:01:07,399 Speaker 1: and Western Digital all plunged following their earnings, while Monster 18 00:01:07,440 --> 00:01:11,120 Speaker 1: Beverage gained as much as fourteen percent after its results 19 00:01:11,440 --> 00:01:14,200 Speaker 1: Live in the first Breaking new staskom bow Maloney, Katherine, 20 00:01:14,440 --> 00:01:16,560 Speaker 1: thank you Bill and to hear love breaking news over 21 00:01:16,600 --> 00:01:19,320 Speaker 1: your Bloomberg type s q u a k on your 22 00:01:19,480 --> 00:01:22,119 Speaker 1: terminal oil fell from a five month high as an 23 00:01:22,120 --> 00:01:25,920 Speaker 1: increase in opet crude production is seen swelling global stockpiles 24 00:01:26,160 --> 00:01:28,720 Speaker 1: West tyxas intermediate crude oil currently up six cents of 25 00:01:28,760 --> 00:01:31,800 Speaker 1: barrel trading at forty six oh eight spot, Bolders up 26 00:01:31,800 --> 00:01:34,880 Speaker 1: twenty eight dollars, thirty cents he ounce at twelve seventy 27 00:01:34,959 --> 00:01:36,880 Speaker 1: and the tenure treasure up two thirty seconds with the 28 00:01:36,959 --> 00:01:39,160 Speaker 1: yield of one point eight one percent. And that's a 29 00:01:39,200 --> 00:01:48,400 Speaker 1: Bloomberg business flash. We're taking stock blue looks, life, stocks, bonds, 30 00:01:48,640 --> 00:01:52,200 Speaker 1: real estate. I've got houses in l A, Paris and Fall. 31 00:01:52,440 --> 00:01:54,320 Speaker 1: It's good to be gain. You've been living in a 32 00:01:54,360 --> 00:01:56,360 Speaker 1: label much if they got the fine at chefs around 33 00:01:56,360 --> 00:01:59,400 Speaker 1: waiting for you to pace your order, you must be rich, honey. 34 00:01:59,640 --> 00:02:04,080 Speaker 1: He then you nobody have two tle Bloomberg taking stock 35 00:02:04,320 --> 00:02:07,720 Speaker 1: the lux life on Bloomberg Radio. Well, you may have 36 00:02:07,840 --> 00:02:11,760 Speaker 1: more than two television sets. Perhaps you have a wine cellar, 37 00:02:11,919 --> 00:02:13,640 Speaker 1: or even a bottle of wine or a bottle of 38 00:02:13,720 --> 00:02:17,920 Speaker 1: Screaming Eagle, quite expensive wine. Or perhaps you were putting 39 00:02:17,960 --> 00:02:21,760 Speaker 1: down hundreds of thousands of dollars for a seventeen eighties 40 00:02:21,880 --> 00:02:26,720 Speaker 1: seven Lafitte owned once upon a Time by former President 41 00:02:26,760 --> 00:02:29,760 Speaker 1: Thomas Jefferson. What do you do? Do you take the 42 00:02:29,840 --> 00:02:33,560 Speaker 1: cork out and suffer the consequences? Not? According to my 43 00:02:33,639 --> 00:02:37,400 Speaker 1: next guest, Greg Lambrecht is the founder and the chairman 44 00:02:37,800 --> 00:02:40,680 Speaker 1: of Corvin. They're based in Boston, and he joins us 45 00:02:40,680 --> 00:02:42,560 Speaker 1: here in the studio. Greg, thanks very much for coming 46 00:02:42,560 --> 00:02:46,280 Speaker 1: in my absolute pleasure. Now you have a device that 47 00:02:46,480 --> 00:02:48,720 Speaker 1: you have carried with you, and I'm not sure whether 48 00:02:48,760 --> 00:02:51,480 Speaker 1: you're going to do surgery with this device or whether 49 00:02:51,520 --> 00:02:54,080 Speaker 1: it is connected to wine. I have a feeling that 50 00:02:54,120 --> 00:02:56,799 Speaker 1: the latter is more appropriate. Explain how the two might 51 00:02:56,840 --> 00:02:59,880 Speaker 1: even go together in your case. Sure, so this is 52 00:02:59,880 --> 00:03:01,880 Speaker 1: a whole lot less painful than surgery. But I do 53 00:03:01,919 --> 00:03:04,000 Speaker 1: work in medicine, and actually that's where the idea of 54 00:03:04,040 --> 00:03:06,720 Speaker 1: Corvin came from. In medicine, we take a needle and 55 00:03:06,760 --> 00:03:08,600 Speaker 1: we go in and out of medicine bottles all the time. 56 00:03:08,639 --> 00:03:12,560 Speaker 1: It's no big deal. But in in my home life, 57 00:03:12,560 --> 00:03:15,120 Speaker 1: I was finding that I was drinking wine but not 58 00:03:15,160 --> 00:03:18,480 Speaker 1: necessarily finishing the bottle. And in particular, when my wife 59 00:03:18,520 --> 00:03:21,280 Speaker 1: became pregnant, she stopped drinking completely. So now I had 60 00:03:21,280 --> 00:03:23,320 Speaker 1: nobody to share my wine with. So what I was 61 00:03:23,320 --> 00:03:25,560 Speaker 1: looking for was a way that I could drink a 62 00:03:25,600 --> 00:03:27,600 Speaker 1: glass of wine from any bottle that I owned without 63 00:03:27,639 --> 00:03:29,160 Speaker 1: having to think about when I was going to drink 64 00:03:29,200 --> 00:03:32,200 Speaker 1: it again. So I came up with the core of 65 00:03:32,240 --> 00:03:34,840 Speaker 1: an It's essentially a small handheld system that allows you 66 00:03:34,880 --> 00:03:37,320 Speaker 1: to pass a needle through the cork. You press a 67 00:03:37,360 --> 00:03:40,480 Speaker 1: trigger and we injected inert gas into the bottle. That 68 00:03:40,560 --> 00:03:42,800 Speaker 1: gas pushes the wine out. You can pour as much 69 00:03:42,880 --> 00:03:44,120 Speaker 1: or as little as you like, and when you remove 70 00:03:44,160 --> 00:03:45,880 Speaker 1: the needle from the bottle, the cork is elastic, it 71 00:03:45,960 --> 00:03:48,640 Speaker 1: receals and you can drink it again next week, next month, 72 00:03:48,840 --> 00:03:53,080 Speaker 1: next year. So uh, of course, as many of us 73 00:03:53,080 --> 00:03:56,839 Speaker 1: know of the bottle opens good bottle something, it's hard 74 00:03:56,880 --> 00:03:59,080 Speaker 1: to want to stop drinking it. But but I think 75 00:03:59,480 --> 00:04:02,120 Speaker 1: it's at slutely clear that there are many times like 76 00:04:02,160 --> 00:04:03,680 Speaker 1: that one. So it might have a great bottle of 77 00:04:03,720 --> 00:04:05,720 Speaker 1: wine and they're not going to break the whole bottle 78 00:04:05,720 --> 00:04:07,400 Speaker 1: at once. So this is a great device. Let's start 79 00:04:07,440 --> 00:04:09,640 Speaker 1: with the price. How much is gonna cost me to 80 00:04:09,720 --> 00:04:12,440 Speaker 1: be able to open a lovely bottle of wine and 81 00:04:12,520 --> 00:04:15,680 Speaker 1: not worry about it not being just as lovely when 82 00:04:15,720 --> 00:04:17,400 Speaker 1: I go back in a day or two for another glass. 83 00:04:17,520 --> 00:04:19,120 Speaker 1: I think of it as more of an investment. You 84 00:04:19,160 --> 00:04:20,640 Speaker 1: buy corp of it once and you can use it 85 00:04:20,680 --> 00:04:23,360 Speaker 1: over and over again. So it's we have two different models. 86 00:04:23,400 --> 00:04:26,839 Speaker 1: The original model that we launched, Model eight, is two dollars, 87 00:04:27,240 --> 00:04:30,120 Speaker 1: and then we just launched Model to Elite much more 88 00:04:30,160 --> 00:04:33,160 Speaker 1: for the home use that is three d and forty nine. 89 00:04:34,880 --> 00:04:37,520 Speaker 1: How did you do it? How else? That's really some 90 00:04:37,560 --> 00:04:40,200 Speaker 1: of the steps, because I mean, this is a piece 91 00:04:40,320 --> 00:04:45,160 Speaker 1: of highly machined uh medal and I'm wondering how did 92 00:04:45,200 --> 00:04:48,120 Speaker 1: you put together the financing and how long has it 93 00:04:48,160 --> 00:04:50,520 Speaker 1: taken you to got it to this point. So I'm 94 00:04:50,520 --> 00:04:53,560 Speaker 1: actually an entrepreneur by trainings, I work in medicine. I've 95 00:04:53,560 --> 00:04:55,880 Speaker 1: started a number of different medical device companies, and I'm 96 00:04:55,920 --> 00:04:58,640 Speaker 1: also an inventor and I've been focusing on un medical 97 00:04:58,680 --> 00:05:02,280 Speaker 1: needs since i was three years old, so twenty three 98 00:05:02,360 --> 00:05:07,320 Speaker 1: years ago. Um Corwin really came out of my own need. Basically, 99 00:05:07,360 --> 00:05:10,640 Speaker 1: the invention was to solve my own problem, which was 100 00:05:10,680 --> 00:05:12,680 Speaker 1: I wanted a great glass of wine every night of 101 00:05:12,720 --> 00:05:14,640 Speaker 1: the week, and I actually wanted restaurants to be able 102 00:05:14,640 --> 00:05:17,000 Speaker 1: to serve better glasses of wine to me than they 103 00:05:17,000 --> 00:05:20,279 Speaker 1: were serving because they were worried that they would have wastage. 104 00:05:21,040 --> 00:05:23,160 Speaker 1: So I came up with the idea a long time ago, 105 00:05:25,160 --> 00:05:27,719 Speaker 1: and of course I was running my other medical device companies, 106 00:05:27,800 --> 00:05:29,560 Speaker 1: so it was sort of a pet project for me 107 00:05:29,640 --> 00:05:32,560 Speaker 1: at home. I developed it over the course of a 108 00:05:32,680 --> 00:05:35,600 Speaker 1: period about eight years where I was testing different gases, 109 00:05:35,600 --> 00:05:38,560 Speaker 1: different needles, different wines, different vintages to see what what 110 00:05:38,720 --> 00:05:41,080 Speaker 1: combination was perfect and would preserve the wine perfectly so 111 00:05:41,120 --> 00:05:43,120 Speaker 1: I could drink it five years later and it wouldn't 112 00:05:43,120 --> 00:05:46,440 Speaker 1: be changed. I had enough friends that sought in my 113 00:05:46,560 --> 00:05:48,480 Speaker 1: home that wanted one where I started to make a 114 00:05:48,520 --> 00:05:50,640 Speaker 1: few a week, and I realized that this wasn't just 115 00:05:50,680 --> 00:05:52,880 Speaker 1: my problems. Other people had the same problem. So I 116 00:05:52,920 --> 00:05:56,359 Speaker 1: could I could turn this into a company. But so 117 00:05:56,360 --> 00:05:58,760 Speaker 1: I knew how to raise money from my my medical 118 00:05:58,760 --> 00:06:01,240 Speaker 1: device businesses. But I knew that I was not a 119 00:06:01,279 --> 00:06:04,400 Speaker 1: consumer products guy. I'd never really had any experience in 120 00:06:04,400 --> 00:06:06,680 Speaker 1: the field. So when I started the company in two 121 00:06:06,760 --> 00:06:09,200 Speaker 1: thousand and eleven, I was very fortunate to be able 122 00:06:09,240 --> 00:06:11,599 Speaker 1: to bring on a CEO who was really a true 123 00:06:11,640 --> 00:06:14,280 Speaker 1: expert in consumer products, and actually that was Nick las Arris, 124 00:06:14,279 --> 00:06:19,440 Speaker 1: who had built Curing from the ground up. Nick, uh 125 00:06:19,760 --> 00:06:21,440 Speaker 1: together with some money that I was able to raise, 126 00:06:21,560 --> 00:06:24,760 Speaker 1: was able to make Corvin a reality. Companies are only 127 00:06:24,760 --> 00:06:26,520 Speaker 1: as good as the people that you bring in. Uh. 128 00:06:26,640 --> 00:06:29,400 Speaker 1: Nick was spectacular. I brought him out of retirement. Uh 129 00:06:29,400 --> 00:06:30,960 Speaker 1: he said he wanted to change. He changed the way 130 00:06:30,960 --> 00:06:32,800 Speaker 1: people drank coffee. Wants to change the way people that 131 00:06:32,920 --> 00:06:35,200 Speaker 1: drink wine. Uh So I thought it was really a 132 00:06:35,240 --> 00:06:38,760 Speaker 1: perfect combination. And I've just recently Nick went back into retirement, 133 00:06:38,760 --> 00:06:42,000 Speaker 1: brought on Fred Leavy, who ran an espresso uh So, 134 00:06:42,240 --> 00:06:45,080 Speaker 1: really spectacular team of people up at Corvin made this 135 00:06:45,240 --> 00:06:48,960 Speaker 1: a very real thing. Quick final question. You are a 136 00:06:49,040 --> 00:06:51,760 Speaker 1: doctor who's an inventor and entrepreneur. Give us a word 137 00:06:51,760 --> 00:06:53,640 Speaker 1: of advice to anybody who's I've got a great idea. 138 00:06:53,720 --> 00:06:58,239 Speaker 1: I want to do what he's done, you know. UM. 139 00:06:58,360 --> 00:07:01,960 Speaker 1: The biggest piece of advice as people people with the 140 00:07:02,000 --> 00:07:04,719 Speaker 1: experience and know how to do what it is that 141 00:07:04,800 --> 00:07:08,400 Speaker 1: you want to do. There's often a desire amongst inventors 142 00:07:08,440 --> 00:07:10,360 Speaker 1: to do it entirely on their own and it's to 143 00:07:10,440 --> 00:07:13,760 Speaker 1: maintain ownership and frequently that stops them from actually getting 144 00:07:13,760 --> 00:07:17,040 Speaker 1: it to happen. You want to bring on great investors, 145 00:07:17,720 --> 00:07:21,760 Speaker 1: great employees, great CEOs, a great team to make it 146 00:07:22,000 --> 00:07:25,240 Speaker 1: real and focus on those things that really addressing on 147 00:07:25,320 --> 00:07:28,440 Speaker 1: met need. That's the biggest opportunity. Greg Lamberick, thank you 148 00:07:28,480 --> 00:07:31,680 Speaker 1: so very much. I want to get one. I really do. 149 00:07:31,840 --> 00:07:34,240 Speaker 1: Found her and Shairman of Corvin. You can check him 150 00:07:34,280 --> 00:07:38,040 Speaker 1: out online, open the best bollow line on the shelf 151 00:07:38,200 --> 00:07:40,680 Speaker 1: and you can still drink more tomorrow or the next day. 152 00:07:40,840 --> 00:07:45,880 Speaker 1: This is taking Stock on from the radio. Coming up 153 00:07:45,920 --> 00:07:49,440 Speaker 1: on taking Stock after ten years running the world's biggest 154 00:07:49,440 --> 00:07:53,760 Speaker 1: publicly traded oil company. Excen Mobile chief executive Rex to listen. 155 00:07:54,360 --> 00:07:57,920 Speaker 1: That's some bad news for shareholders. We've got details coming up.