WEBVTT - Blade's Wiesenthal on Partnership with Uber in Boston (Audio)

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<v Speaker 1>Broadcasting live to New York, Bloomberg eleven Brio to Washington,

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<v Speaker 1>d C, Bloomberg to Boston, Bloomberg twelve hundred to San Francisco,

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<v Speaker 1>Bloomberg nine to the country. See is exam General one

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<v Speaker 1>nine and around the globe the Bloomberg Radio, zapp and

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<v Speaker 1>Bloomberg Dot gone. This is taking Stock, coming up on

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<v Speaker 1>taking stock. How about Uber for the skies, We're gonna

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<v Speaker 1>be talking about Blade. They described themselves as the first

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<v Speaker 1>digitally driven short distance aviation company. We're gonna find out

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<v Speaker 1>what you can fly in and how much it costs.

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<v Speaker 1>Sounds like a luxury to me, but the founder of

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<v Speaker 1>Blade says, oh no, it's a necessity for many. I

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<v Speaker 1>just want to quickly mention to people. Are gonna be

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<v Speaker 1>speaking to David Kotalk from Cumberland Advisors about the Puerto

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<v Speaker 1>Rico det deal hammerd Dot yesterday. He wonders what it

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<v Speaker 1>means for bondholders. Now to Charlie, he's in the newsroom

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<v Speaker 1>with a blue business lass and stocks are flying higher today.

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<v Speaker 1>Thank you very much, Cathleen, Thank you. Pim Fox. We've

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<v Speaker 1>got the down Jones Industrial average off its session highs,

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<v Speaker 1>but green on the screen on this Friday. Right now,

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<v Speaker 1>with the Dow up forty five points, a gain of

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<v Speaker 1>three tenths of one percent, SMP five hundred index rebounding

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<v Speaker 1>from a seven week low, the SMP advancing nine points

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<v Speaker 1>of five tenths of one percent, Nastack rallying fifty points

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<v Speaker 1>up one point one percent. Technology shares are gaining amid

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<v Speaker 1>easing anxiety over the potential for fire higher interest rates

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<v Speaker 1>as early as next month. Jonathan Gallab is chief US

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<v Speaker 1>market strategist at RBC Capital Markets. He was interviewed this

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<v Speaker 1>morning on Bloomberg Surveillance. In a very short run if

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<v Speaker 1>you if you hear news that the Fed is going

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<v Speaker 1>to move in in June, the market may not like it,

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<v Speaker 1>but the reality is the market wants higher interest rates

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<v Speaker 1>because it means that conditions around the world aren't sick anymore,

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<v Speaker 1>and zero interest rates are a problem for the economy.

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<v Speaker 1>Deer shares moving law are by five and a half percent.

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<v Speaker 1>It is grappling with declining sales of its tractors. Today,

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<v Speaker 1>the world's biggest farm equipment manufacturer lowered its fiscal full

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<v Speaker 1>year profit outlook on projections for reduced sales of tractors

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<v Speaker 1>and combines the tenure up one thirty second, the yield

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<v Speaker 1>there one point eight four percent, gold down to twenty,

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<v Speaker 1>the ounce dropping two tenths of one percent to twelve

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<v Speaker 1>fifty two, and crude oil lower now by forty one

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<v Speaker 1>cents forty seven seventy five for a barrel of West

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<v Speaker 1>Texas Intermediate, a drop there of nine tenths of one percent.

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<v Speaker 1>Again recapping SMP up nine a gain of five tenths

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<v Speaker 1>of one percent, and a three thirty two on Wall Street.

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<v Speaker 1>Let's take a look at other news from around the

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<v Speaker 1>world on Bloomberg Radio. Thank you, Charlie from the Bloomberg

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<v Speaker 1>news Room. I'm Scarlet Food. This news update is brought

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<v Speaker 1>to you by the Jeep Grand Cherokee, the most awarded

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<v Speaker 1>suv ever. The Grand Cherokee continues to raise the bar

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<v Speaker 1>with its luxurious interior and legendary four by four capability.

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<v Speaker 1>Drive one at your local Jeep dealer today. Donald Trump

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<v Speaker 1>once supported restrictions on gun rights, but today the n

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<v Speaker 1>r A is formally endorsing the likely Republican presidential nominee.

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<v Speaker 1>Trump addressed a National Rifle Association convention a short time ago.

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<v Speaker 1>Thousands of gun enthusiasts were on hand to hear Trump

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<v Speaker 1>speak at the n r A meeting in Louisville, Kentucky.

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<v Speaker 1>He once criticized Republican politicians who quote walk the n

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<v Speaker 1>r A line. Three European security officials say the passenger

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<v Speaker 1>manifest for egypt Air flight eight O four contained no

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<v Speaker 1>known names on current terror watch lists. Flight eight O

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<v Speaker 1>four was carrying sixties six people from Paris to Cairo

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<v Speaker 1>when it is believed to have crashed. Officials say they

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<v Speaker 1>have recovered wreckage. President Obama's blasting Congress for failing to

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<v Speaker 1>provide more funding to fight the Zeke virus. My hope

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<v Speaker 1>was that we would have had a build that I

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<v Speaker 1>could sign now, because part of what we're trying to

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<v Speaker 1>do is to accelerate get the process going for vaccines.

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<v Speaker 1>You don't get a vaccine overnight. Federal health officials announced

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<v Speaker 1>today that with or with symptoms, the Zeke of virus

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<v Speaker 1>is linked to birth effects. All five operating rooms at

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<v Speaker 1>a Long Island Veterans hospital are closed due to black

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<v Speaker 1>particles falling from air ducts. The Times reports that the

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<v Speaker 1>operating rooms at Northport Veterans Affairs Medical Center had reopened

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<v Speaker 1>last month after an earlier issue, but had to be

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<v Speaker 1>sealed off again when contamination returned. Global News twenty four

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<v Speaker 1>hours a day, powered by our journalists and more than

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<v Speaker 1>one fifty news bureaus around the world. From the Bloomberg Newsroom,

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<v Speaker 1>I'm Scarlet Foo Charlie, and we are brought to you

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<v Speaker 1>by the American Arbitration Association, International Trade or Business Dispute

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<v Speaker 1>Resolve Faster with the International Center for Dispute Resolution, the

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<v Speaker 1>leader in alternative dispute resolution around the world. I see

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<v Speaker 1>d R dot org. Just updating you on a developing

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<v Speaker 1>story out of Washington, US Park Police reporting a shooting

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<v Speaker 1>on a road inside the White House complex. President Obama

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<v Speaker 1>is playing golf and is not on the White House grounds.

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<v Speaker 1>Recapping SMP UP nine a gain of five tense of

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<v Speaker 1>one percent. I'm Charlie Pellaton. That's a Bloomberg business slash

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<v Speaker 1>bloom were taking stock the lux life, gold, jewlscing properties

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<v Speaker 1>a valuable nature. Now that you live in that right

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<v Speaker 1>front out, can I be your financial advisor? It's good

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<v Speaker 1>to be keen. I thought of your eyes, and I

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<v Speaker 1>m right out in buff Remember how much I wanted

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<v Speaker 1>a big backyard with Grecian statue shaped edges and three

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<v Speaker 1>swimming pool. Well, I got that Bloomberg taking stock the

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<v Speaker 1>Lux Life on Bloomberg Radio. The Lux Life, Well, sometimes

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<v Speaker 1>the Lux Life combines new technology with an old way

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<v Speaker 1>of getting around. Rob Weisenthal is the founder and the

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<v Speaker 1>chief executive of a Blade and he's here to tell

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<v Speaker 1>us about the business model of Blade and how we

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<v Speaker 1>can get up in the air for I guess less money.

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<v Speaker 1>Thank you very much for being here on Thanks for

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<v Speaker 1>having me. Tell us about Blade. What is it designed

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<v Speaker 1>to do and how does technology change the business model? Well,

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<v Speaker 1>it's designed to get you to get you from any

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<v Speaker 1>point in the Northeast under four in of miles or

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<v Speaker 1>a short distance aviation company. We want to make it

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<v Speaker 1>an exciting, enjoyable, delightful experience, and we leverage technology UH

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<v Speaker 1>to specifically crowdsourcing through our network of a hundred thousand

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<v Speaker 1>users UH to make it affordable. But a big part

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<v Speaker 1>of it is a network of incredible lounges with a

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<v Speaker 1>terrific customer experience team we call them the c X

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<v Speaker 1>team to kind of bring back that golden age of

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<v Speaker 1>aviation when it was a personal touch, it was excitement

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<v Speaker 1>and it was fun. Um I grew up in an

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<v Speaker 1>arrow where I used to get dressed up to go on.

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<v Speaker 1>I was just gonna say, does that mean people dressed

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<v Speaker 1>nice again? You know, instead of putting on their sweats

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<v Speaker 1>and you know exactly the average customer actually comes to

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<v Speaker 1>one of our lounges forty minutes before their flight. They

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<v Speaker 1>have cocktails, They you know, read vintage magazines. They meet

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<v Speaker 1>people that they've met before, sometimes some new people, and uh,

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<v Speaker 1>you know it's interesting because, especially with short distance aviation,

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<v Speaker 1>whether it be turboprop planes or helicopters, where we got

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<v Speaker 1>our start, you know, there really is that sense of

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<v Speaker 1>adventure and excitement and we're trying to bring that back.

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<v Speaker 1>But it starts with the experience on our app, which

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<v Speaker 1>a hundred thousand users have downloaded. It moves to our lounges.

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<v Speaker 1>We now have four lounges in New York City. Essentially,

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<v Speaker 1>there's no way to fly into New York, whether by

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<v Speaker 1>seaplane or helicopter, without going through or around a Blade lounge,

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<v Speaker 1>and um, you know that's where the experience starts to

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<v Speaker 1>continues the lounge and in the air, and the key

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<v Speaker 1>is to try to make it seamless, easy and affordable.

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<v Speaker 1>But by taking that hundred thousand users to answer your

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<v Speaker 1>question of the technology, we are able to bring what

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<v Speaker 1>used to be UM ships as we call it ships

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<v Speaker 1>as as an air can be an airplane or a

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<v Speaker 1>helicopter that have an average capacity realization at one point

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<v Speaker 1>seven and bring it up. That brings the price down.

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<v Speaker 1>So before Blade, say flying to East Hampton, for example,

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<v Speaker 1>would be a three thousand, four thousand hour charter. That's

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<v Speaker 1>a seat on that helicopters on five dollars. Let's just

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<v Speaker 1>outline some of the geographies here Blade between Manhattan, Westchester,

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<v Speaker 1>Miami and Palm Beach. You go take the helicopter to

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<v Speaker 1>the Gulf Stream that's waiting for you. Is that kind

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<v Speaker 1>We have a seasonal service called Blade one, and this

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<v Speaker 1>was really the canvas that I had to kind of

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<v Speaker 1>recreate what we just talked about, which is that Golden

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<v Speaker 1>age of aviation. Your experience starts at a Blade lounge. Uh,

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<v Speaker 1>you get in a helicopter, you fly to the side

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<v Speaker 1>of a Gulf Stream jet which is specifically a UM

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<v Speaker 1>the Blade jet for the season. We don't use random aircraft. Uh,

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<v Speaker 1>their twelve captains chairs, no benches. You've tied English food.

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<v Speaker 1>On the way down, you have Triprianic food. On the

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<v Speaker 1>way back, you have iPad pros with first run movies

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<v Speaker 1>and you actually have to flight attendants who uh I

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<v Speaker 1>have You know, a bunch of us have trained personally.

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<v Speaker 1>They're wearing UH to marrow melon outfits that she designed

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<v Speaker 1>a bunch of a couple of years ago to kind

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<v Speaker 1>of if you think about the old days when Amelia

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<v Speaker 1>Pucci designed out it's for manoth Uh. You landed a

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<v Speaker 1>Blade Lounge in Miami and on the return you could

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<v Speaker 1>actually have dinner before you get on a plane. What's

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<v Speaker 1>going on in Boston? In Boston today, we're very proud

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<v Speaker 1>to have announced a partnership with uber other product for

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<v Speaker 1>Memorial Day weekend. It's promotionally called Uber Air powered by Blade.

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<v Speaker 1>It's our fourth partnership with uber uh and we'll be

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<v Speaker 1>flying from a Blade Lounge at Signature Aviation at Logan

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<v Speaker 1>for fort emn flight to Nantucket to a Blade Lounge

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<v Speaker 1>and Nantucket it's the first time in many years that

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<v Speaker 1>Nantucket has opened themselves up to a new air carrier.

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<v Speaker 1>We're excited about that lounge. We're excited about being on

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<v Speaker 1>on on island, so to speak, and Boston clearly is

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<v Speaker 1>going to be the second hub for Blade. But I

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<v Speaker 1>can't think of a better partner to start this with

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<v Speaker 1>than than Uber, and they will be a partner with

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<v Speaker 1>us for the first week and they're gonna have introductory

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<v Speaker 1>pricing kind of kicked the summer off at three per

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<v Speaker 1>seat and they've been absolutely terrific introducing us to Boss

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<v Speaker 1>and so that's been great. Boston of course home to

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<v Speaker 1>Bloomberg a m rob cost. What's this all cost? Give

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<v Speaker 1>us some numbers? Okay, So, as I said, you know,

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<v Speaker 1>Uber Air powered by powered by Blades three urs from

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<v Speaker 1>Boston to uh Nantucket. UH flights to uh say the

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<v Speaker 1>Hampton's from Manhattan average probably about five or a seat.

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<v Speaker 1>And then we have our fastest growing product, which is

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<v Speaker 1>called Blade Bounce, which is a guaranteed helicopter within twenty minutes.

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<v Speaker 1>You could stay sit here on your phone book within

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<v Speaker 1>thirty seconds and within twenty minutes will be a helicopter

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<v Speaker 1>waiting for you to take into any area airport for eight.

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<v Speaker 1>That is not a seat, that is an entire helicopter. Alright,

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<v Speaker 1>but Rob, but I guess I'm gonna have to get

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<v Speaker 1>a seat on Blade to go to the lounge. I

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<v Speaker 1>can't just show up for a drink for you. You

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<v Speaker 1>can show up for a drink. Thank you so very much,

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<v Speaker 1>and I have a lot of fun. Founder and CEO

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<v Speaker 1>of Blade joining us to look at luxury on Bloomberg Radio.

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<v Speaker 1>Coming up on taking Stock, We're going to take stock

0:11:04.280 --> 0:11:06.800
<v Speaker 1>of your investments with David Kotok, the chairman and the

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<v Speaker 1>chief investment officer of Cumberland Advisers. What should you do

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<v Speaker 1>with your money today? We'll find out