Transcripts For BLOOMBERG Bloomberg BusinessWeek 20240713

That to come. But heres editor joel weber. Joel we put together a holiday cover for you. Jason what a year. Joel this is one of the biggest stories of the year. And it started with we work, even preipo chatter. As that coverage developed and went on and on, there was another story we started to think about, which was softbank, one of the biggest investors and we were. We work. Carol softbank, we did talk about it so much. What i love is that you guys go into the layers of softbank division fund. Obviously the leader of it all, but also other players. Visionary at softbank, especially at division fund, this outside force in Silicon Valley, 100 billion vc fund that can do a lot of work because it has so much money. One of the ways it can do that is go into we work and bankroll we work, a Business Model that may not have been for the long haul. Carol funny you talk about the Business Model. Jason joel lets flood the zone with money. Go big or go home. Sometimes that works. We they have had some wins. Other times it doesnt. The other thing it reveals is the culture within softbank and specifically the vision fund, where theres a lot of tension. Story. Its a big another is businessweek turns 90. Joel were really old. Thats great. Jason you look great for 90. Joel the magazine has been around 90 years. We honor that with nsa on how its covered the and essay on how it covered the decade. Theres a 1979 cover about the death of equities, that for a couple years after looked really good, but in hindsight didnt look so good. But its an amazing accomplishment this magazine has been around this long while being the authoritative voice on business. Jason interesting talking to the people that put together that essay. Their combined tenure is almost 90 years. Joel we dont go all the way back to 1929, when they first started, ready for the crash, but collectively, the people who worked on this essay can trace their lineage back to those who worked back then. In the course of three people writing the essay, we can spend the generation. Jason one of the things they point out in their essay, these seminal moments and how businessweek tracked what was going on, the zeitgeist in, economics, the board room, so many things. Carol women. Thats still an issue. Joel black business. When you look at how we covered it, it shows not only the evolution of the magazine, but the evolution of the country and of the world in capitalism. Carol my point is those conversations reminding us some of the issues were still talking about today. Joel its amazing how much stuff comes up that feels contemporary, from economics to women in business and finance, all of them, these stories have been with us for years. Jason thanks a lot. Carol more on the 90th coming up. Lets get back to the cover story of softbanks chief. Jason heres Sarah Mcbride in san francisco. Sarah we work is a small part of their total investment portfolio. We make the point in the article that masayoshi sons advisors were much more cautious about we work then he was. Division fund only committed 4. 4 billion to wework. I mean only, but compared to softbank. Division funds commitment the vision funds commitment was relatively small. They got wework, and then they got much Smaller Companies that have gone wrong. But because they unfolded around the same time, people are paying a lot of attention to them. For example, wag and brandless. Two consumer companies, they really only invested in a few hundred Million Dollars in. But because theyre highprofile, people are paying a lot of attention to those. In a lot of funds, when companies fail, they often fail pretty early on in the life of the fund, to where theres an interesting inflection point, where they also have a number of arentng companies that at the point in their lives were we can point to them and say these are spectacular companies, for example paying a retailer in south korea has a lot of promise and another one, also in asia, is very problem promising. But the promise hasnt delivered yet. The disasters have. Its just a bad time. Carol it is a bedtime. I feel like you dig into how Investment Decisions are made. You also give us insight into masa. Tell us about it. Sometimes you get one. Sometimes you get the other. Sarah right. Extremelyan be charming and very interested and engaging, or he can kind of get and a bad mood and pepper people with questions. And in the lead, we tell the story of one time on a call, where he paraded an berated an investor at softbank for not being optimistic enough about a Company Called full truck alliance, which is a Company Based in china, making good and steady progress. And masa apparently thought it could grow a lot faster and was telling the investor you have to figure out a way to grow even faster than it is now. And other people on the colbert cringing and felt that 1 on the call were cringing and felt that one investor got the ire of masa. But other companies, in particular the ones who pitch masa, if you he likes your company, you feel like youre walking on air. Sometimes he tells young startup founders youre the next jack ma. And they leave feeling so good, especially if its a company where theyve been rejected many times before. Carol i think was interesting is how you say what sets the vision fund of five apart is ahen the vision fund and mas decides to be in front of it, they really push the founders to be aggressive in their business, maybe expand out. Sarah right. So, they give them the kind of money where they can expand much quicker than they would have been able to do otherwise. Sometimes a company that might have been looking for a 58 60 million and zip getting several hundred million from softbank. Softbank gives a lot of money, but then they want you to deliver. Lets say you were planning to roll out in one state. Now they want you to do a National Rollout and think about what your overseas expansion plan. Up for ado set it company to grow very fast, but not every ceo can deliver on that. Carol coming up, me too has yet to have its moment on wall street. Jason why some still dont get it. Carol this is Bloomberg Businessweek. Carol welcome back. Im carol massar. Jason im jason kelly. Joint is every day on the radio. Also, catch up on our daily show. Listen and subscribe to our podcast. Carol you can find us online at businessweek. Com and our mobile app. In the finance section, a story on the me too movement in wall street. Jason theyve been following this story closely throughout the course of the year. This piece is a sobering article on how the finance industry still doesnt quite get it. Carol heres more. Max sometimes we look at each other. Where is me too in the Financial Services industry . We know from years of chronicling hedge funds and banks and private equity and Asset Management that wall street, like other industries, including journalism, has profound imbalances, and women quietly say theyre harassed and are discriminated against and they fear retribution. But we havent seen that moment of change. And what this piece is about is this sort of system, this machine of silence that explains why. Carol i do think after me too in the entertainment world, without wall streets next, and it didnt quite happen. I have a word for you arbitration. Max arbitration is one of those things. If you brought that word up to and a half years ago, i would more or less draw a blank. I was on the phone with a wall street veteran who said to me, if you want to understand why were not seeing me too on wall street, you have to look at the invisibility cloak. Arbitration. Thats the system parallel to the courts. Its behind closed doors. Its a private Justice System that used to be relatively itself, and wall street really helped it expand so it now covers essentially two out of three workers at big u. S. Companies. And wall street, unlike other industries, run its own arbitration hearings. And wall street is definitely a master of arbitration. It helps explain a lot. Carol the finance industrys mastery of this prevented the past two years from touching it, meaning the me too revolution. Max if a wall street executive were here with us carol men and women . Max the Senior Executives are all meant. But the Research Executives are sometimes women. Lynch. Katya and gavin they say, look, arbitration, they say is quicker. Its cheaper. Its quieter. But its just as fair. Thats what theyll say. Thats the defense. Women will say it stops us from banding together and instituting major change. The class action lawsuits weve written about, cant have those with arbitration. Jason lets talk about systemic and cultural aspects, as well. In thisinto this, too, piece of the cultures of a lot of these firms are set up in a way, both structurally and eat thosewise, ethoswise, it doesnt feel safe to be those kinds of place, even the advocates within the firm, hr for instance, arent really on the sides of the employee. Theyre sort of on the side of keeping things under wraps. Max our focus was on three crystallizing moments. One was candidate fitzgerald. Another was Ken Fitzgerald ken fisher. I mentioned gavin finch gavin lynch, who did amazing work out of london, jealousy inducing. But what was really upsetting about it, and katya talked about this with rebecca, its not just that it paints a picture of guys behaving extremely badly. Whats profoundly upsetting about the lloyd story and another one at mng, also in london, is that it gives you a sense that these women went to hr and talked about being assaulted or accosted, and hr was basically like, it will be bad for your career if you say anything. Dont smile around him. I think that was a little response from human resources. Dont smile around him. Jason maybe dressed differently. Change your behavior in order to avoid these situations in the future. Carol coming up, Climate Change and uprising. Jason plus, Climate Defense bringing down the cost of a controversial weapon. Carol this is Bloomberg Businessweek. Jason welcome back. Im jason kelly. Carol and carol massar. You can also listen to us on the radio. Boston. Jason am 960 in the bay area. In london and through their Bloomberg Businessweek you at. Bloomberg businessweek app. Carol a controversial weapon. Jason but the concept is pretty cool. Sky vacuum to capture carbon from the air. Heres peter coy with his story on this issues tech session. Peter Climate Change is an economic issue. How do you solve this problem . There are obvious things you do. Build more windmills and solar plants. But the people who believe you can capture carbon directly from the air, that has to be part of the solution. Jason how does this work . Peter Carbon Dioxide is an acid, and chemical terms, but binds with bases. If you have a chemical and you run air through big fans, then it bidns with this chemical, forms a salt, and then you put the salt through another loop of the equation of the plant, and then you get a different salt, and then you can run that through a heater, and that splits off the Carbon Dioxide into a pure stream of Carbon Dioxide, and then you send back a line that gets hydrated and putback into the process. Carol this is the periodic table at work. It really is. It goes back to basic imagery. It makes so much sense, very logical. Why arent we doing it already . Peter well, we are doing it on an experimental basis. I focus on three companies. One is carbon engineering. One is global thermostat. And the other is climb works, based in switzerland. The one outfront is carbon engineering, which is finishing up the design work on a plant that will pull out one million tons a year of Carbon Dioxide from the year. Carol sounds like a lot. Is it . Peter its a huge amount compared to whats been done before, but a pittance compared to the size of a problem. Jason so, why not do this . Peter its expensive, more expensive than other solutions. But the cost is come down a lot, so its no longer crazy expensive, just on the highend. Its cheaper than other options, like say, battery airplanes that weve talked about in the magazine. Furthermore, there were, point will come a point where we will have a string on reducing putting Carbon Dioxide into the air. At that point, youll have to think about supplementing it with taking something out of the air. Carbon dioxide was produced by your grand parents, sitting out in the atmosphere all this time. Carol the important part of this, its meant to complement or supplement whats already being done in terms of combating Climate Change. Peterjason thats a real good. Someone reading it would be, pollute all you want. Well just vacuum it up. Peter thats what some people say. Its the wrong message. Dont say you have a free ticket to pollute. No, definitely not. You want to be doing everything, the low hanging fruit and high hanging fruit. Jason i love how you refer to this as the high hanging fruit, which you dont usually talk about. How likely is it this gets adopted in a meaningful way . Peter i think its very likely. Again, it sort of has to happen. Nothing else will do the job. It will be expensive, but we see the cost on solar and wind come way, way down. This will come down, as well. Carol theres another story on how the decadelong drought sparked a popular report revolt in july. Jason heres christina lindblad to explain. Them art most of however they stay meager pensions, and people feel like the Education System is producing inequality. Carol the usual suspects. Christina yeah, exactly. At the prospects and thats been affecting central chile, where most of the population is. These wateroked at i mean, literally, that have been playing out, and how these protest you cant say they literally jump from the rural areas to the city, with her vacantly being echoes of unequal access to water, unequal access to education, to opportunity. Carol tell us about the impact on livestock. I think of farmers in chile. How has it played out . Christina we talked to people who have lost more than half of their life start in the last couple of years livestock in the last couple of years. Avocado farming has spread, of course, to feed this Global Demand for good of a cutters. A lot of export of demand for avocados. Avocado farmers are being accused of exploding their water rights and tapping rivers, illegally. So, all these far Small Farmers have rainfall has been lacking. Carol so the avocado farmers are fine. Christina yeah. If you look at the photos, it is stark. They should not be grown in some of these places. So, yeah, its just one of those things. Jason one of the issues this brings to mind is income inequality, obviously, but obviously this notion of economic choices that favor business over consumers, or people, and businesses over what most would argue is a basic human right. Christina well, thats right, and i think people were initially surprised at the violence of these demonstrations. Places, because it has been a model over latin america over how it in tried this neoliberal model. That constitution dates from the time of dictatorship. Jason like pinochet . Cristina its a water law that gives in perpetuity. They can trade them. Once upon a time, the thought was free markets would help thele be careful in management of finite resource. There really has not been the case. Mining and export oriented agriculture have really the government has prioritized those kinds of uses for water. We have now communities in chile that depend on water getting trucked in, and when they open the faucet, nothing comes up. Jason its amazing. I do wonder, what is the political backdrop here . A lot of this unrest, as you said at the beginning, has been tied to the political system. Is there any sense that may change soon . Whats the latest there . Cristina the outcome might be why radical quite radical as they agreed unto means of the constitution. The consensus is that the constitution needs to be rewritten because it enshrines this model that is no longer, that has caused distortion. Jason essentially not valid as a country. Cristina right. They havent started talking about how water is going to play into that, but we could see changes in that, as well. Its a complete rethinking about what you want to be as a country. Jason coming up, we businessweek traces its origins to 1929. What a year to be born. Carol not an easy here to make its debut, but there was so much going on. Jason we do indeed. This is a glimmer businessweek. This is Bloomberg Businessweek. Jason welcome back. Im jason kelly. Carol im carol massar. Silicon valleys take on a tax haven. Jason an arms race between two suburbs. The target . Millennials. Carol speaking of millennials, you know whats not a millennial . Jason this magazine . Carol it is turning 90. Its covered business through the decades. Jason to share some of the highlights, heres a guy who knows a lot about it. This is jim ellis. Jim it was a different magazine. We were a different place, different owner. There were a lot of things that was surprisingly the same. Its been a big thought we would do more than report the news. What we want to do is add insight and add analysis so that the reader can not just sort of chronicle of what happened this week, but also why its important, why it matters, and become. Of it in the future thats the value that has come on in the coming years. Carol this section kicks off identifying three people who spanned the entire lifetime, 90 years of businessweek. You are one of them. Not that you go back 90 years, but whats fascinating is editors and individuals passing down the history of the magazine. Jim thats one of the nice things about our magazine, the condo woody. Ive worked with pete continuity. Ive worked with people for 90 years. Weve seen a lot of things happen in business, and theres a lot of context that we already know. Were not rushing around, ohm, my god. What is it . At the opening of business world. Im embarrassed to say i was there for that. Ive been a lot of things here. A lot of us can shift between stories and hopefully we can add a lot when we work with younger reporters because we seem these stories before. Jason one of the roles i believe you played was that you were the chief correspondent, dealing with the outlying bureaus. In a different context, bloomberg, that feeds the magazine in a lot of ways and gives it a feel thats far beyond a bunch of people in new york. Tell us about that. Jim thats one of the strengths, being able to have a Bureau System or a system of reporters around the world, sort of close to their companies, but also picking up information thats often difficult to get if your seven time zones away. But having people in asia back handing over hong kong, when china was open, to be early on stories like that, and then understand on why things either happen very fast or they dont happen nearly as fast as people in new york. Weve benefited from having this bureaus back in the day, but especially now, because bloomberg has a huge Editorial Staff that were able to draw on. Carol tell us about bringing women into the magazine, and the consumer, how its evolved. Jim it changed because Market Segmentation begin this big deal, and new businesses were popping up because technology was inventing new industries, new things more consumer focused. And what happened is we had to figure out ways to cover that, but also management had to figure out ways to manage that. The idea of professional manager came about. We were early on covering women. Women, a, we covered handful of option runners entrepreneurs. Hazel bishop, who invented nonsmearable lipstick. It became a huge business. And the woman who was the marketing chief at tupperware, she made the cover. We didnt get serious about what happens within corporations and the challenges until 975. 1975. We did a large project, a bunch of stories, i think, are still great. I was surprised. I reread them for this project. I was surprised a lot of the things people say today, that a man says one thing, a woman says the same thing and its considered to be shrill. How can you be so pushy . Whatever. Those quotes have been could have been said by Silicon Valley this year. Were still talking about that. Likewise, we started out not doing much coverage of minority business. A lot of the coverage we had was pretty bad. And i had a chance to read some of the early stuff all the way up to the 50s. In the 60s, because of the changes in society, all of a sudden everybody decided we will think about that. Businessweek turned into a big place to talk about black empowerment in business. It was interesting to see how we took that. We got more sophisticated. By the time the 1970s came along and i came along, we were doing a lot more coverage and sort of wondering about not just the positives about that, but what about the economic changes that seem to be stalling out. We have been really, really good on trying to say this is how society goes. Business people need to know more than numbers on the accounting sheet. Jason for more on the 90th anniversary. Carol we turned her businessweek as paul odwyer, who is back in 1995. A book largely covering industrial america. Men. S largely written by it was largely a stable version of various other industries. And then theres this journalist that took it over. He really changed it. He brought in women. He opened a Washington Bureau, which i was located. He did a lot of things that live ended up, and i think it became the forerunner to businessweek. Carol absolutely. We were talking throughout the week about the 90th anniversary, i think you used to think it was separate. Politics was here, business was here, technology. Now its interconnected. Paula they didnt have their own Washington Bureau. There was an organization which serviced all the publications, everything from modern plastics to engineering news and people trade mentality instead of narrative mentality or profile mentality or investigative mentality, or even talking about how politics enters into a lot of the business stories. So the Washington Bureau really changed the look and feel of businessweek. Jason lets talk about that because it does feel like the late 1980s and into the early 1990s was this seminal moment when washington seemed to wake up and say hold on a second. Theres business going on that maybe we need to keep an eye i think about the lbo area that got kicked out. Bita step back a little and you have what we call the decade of greed that was the 1980s. That was when people crashed onto the scene. But they were doing things that probably Corporate America called for. There were a lot of ceos that had an imperialistic viewpoint about themselves, and they were using shareholder money for fleets of airplanes. Some of them had many air forces. There was takeover battles, especially one involving rj, emblematic of the era. You had people like mike milken, who used bonds. And henry kravis, who landed on the cover, and i believe it was 1988, as king henry, who upset all of that, and who shook up the ceo world. It went a little too far. As we know, mike milken ended up in jail. And it kravis is still going strong. Some of the people involved were shady characters. Carol big business certainly got its time, but so did advocacy groups. Paula a lot of things happened. It wasnt just decades of greed. I think a lot of big ideas developed in that period. You had consumer advocates see that advocacy that came off of ralph naders book. He burst a whole generation of people who would go to run advocacy organizations or agencies in washington, like the epa or Consumer Product safety commission. It was also the era where Corporate Governance came into being, where shareholders got a voice and could vote on resolutions and could turn out ceos or approved or not approved mergers. It was also the era when consumerism rose up. And it was the era when the Retail Investor came to be because people started to have to manage their retirement money through 401 k s, so we finally had an investor democratization going on. Jason from floating tax havens to putting many city states on land. The latest from the institute. Carol interesting idea. New yorks commuter town. Luxury development. Jason this is Bloomberg Businessweek. Carol jason welcome back. Im jason kelly. Carol im carol massar. Join blue zip Bloomberg Businessweek every day on the radio. You can also catch up on our daily show relishing tua by listening to us on our podcast. Jason you can also find us on our bloomberg mobile app. A formal Google Engineer and International Waters expert is negotiating with officials to put many city states in their countries. This is a real thing. Carol definitely a real thing. Heres land ho for Silicon Valley. Youve heard of c studying, this idea thats gained currency in Silicon Valley. Libertarian circle, anyway. You build these little floating fortresses just far enough offshore that they wouldnt be subject to u. S. Law. Carol tax haven. Yeah. Carol is that what this is about . Thats part of it. Thats not the biggest part of what hes after. Carol tell us what he is after. Jeff hes the guy that cofounded this east heading institute a little more than a decade ago with money from peter thiel, a conservative be a leaner billionaire. Carol Silicon Valley guy friendly with president trump. Jeff thats right. This was a while before he forged that relationship. But when they tried to get c studying off the ground, the idea was that it would build the tonomic and Legal Framework build these of the coast of wherever and let thousand jerry and tax savings bloom. That did not go well for the rv is reasons of new colonialism and people who were not psyched states ese c seasteds pop out of their homes. Private companies organized with easteadingf the s institute. They objected on the grounds that this would be pretty disruptive to canoeing and surfing and other industries. Carol lets make the pro and con case. What is good about doing this . Jeff this is all a prelude to his new venture. Whereas peter thiel has not checked with the institute in over five years and is not like to talk about in interviews, its on his unofficial do not talk list. The organization that freeman started, a venture fund called perdomos capital is very much on the donor list. He will put up more than half of the 9 million to get started to try and get set up what i would call seasteds on land. Carol who once this . Is there a demand for this . Jeff freeman and some of the people working with him on the ground say theres interest from organizations, whether Global Economic Development Groups or millionaires, to set up these kinds of many city states. Carol autonomous states, right . Jeff exactly. The pitch, although they are not working ostensibly with local governments they are leaving that with secondary agencies is that they would set up these semion thomas regents, tracts of land semi autonomous regions, tracts of land, with judges who they would hire to run things. They would be immune to local law. Thats whats interesting. Theres a line that the justice is more important than the tax breaks and he talks laws. Hes saying lets create these. There will be some but theres a lot of freedoms and its going to be economically successful. Jeff his argument is rule of law is the most important thing in this commonlaw institute has been retired and they are hoping british judges is the ideal when whyr any other, that as opposed to any other code of laws or ethics . Didnt have the best answer for people worried about colonialism. Carol hes got as far to say weve sold property solved property. Poverty. Jeff thats one of his pitches. Carol some other wellknown folks in the tech community. Jeff particularly bitcoin abdicates, the guy known as bitcoin jesus, into the idea of building their own system. Jason coming up, a couple suburbs talk about new rochelle. Theyve got their eyes on Young Professionals priced out of manhattan and brooklyn. Carol plus, we talked luxury watches. This is Bloomberg Businessweek. Carol welcome back. Im carol massar. Jason im jason kelly. You can also listen to us on the radio. 106. 1 in boston. Carol am 960 in the bay area. In london on dab digital, and always on the Bloomberg Business at. Jason the armors race is heating up between two suburbs in new york city. New rochelle and yonkers. Arel the two biggest towns pardoning affluent urbanites, but are sick and tired of feeling poor. They are not very cool places to live, but these cities are in an arms race, trying to compete for new millennials and juncker professionals, who are looking around and finding they cant afford to live in manhattan. What theyre doing is theyre spearheading new developments. They are building developings in sky rises and apartment buildings and hoping people start to move into these new units and Start Building a family in new rochelle and yonkers. Carol in terms of real estate, the amenities involved. Theres some, hatchet touring . Ask throwing . They are trying to do things that appeal to a younger generation. Vilda exactly. Both cities would like to open axe throwing bars. Thats something they think will appeal to young, attractive people moving from manhattan. Jason such an interesting appeal. I live in the burbs, a little north where were talking about. There has, for long been, not everyone can be as hip as carol, living close into the city. The reality is its always been binary. We either live in the city or youre going to the burbs. This is trying to find a middle ground. Essentially, expanding the footprint in many ways of new york city. Vilda it is, and the drawing point for both of them, and they would say this, they are 2530 minutes from downtown manhattan. You can be at work just as fast or faster than you would be living in brooklyn even. Jason thats an important distinction. Ive talked to colleagues here in the new york bureau of bloomberg and my commute is shorter and, i daresay, a little more civilized on the commuter train than many of those because those burros have pushed further and further out. Vilda thats right and thats what theyre betting on. Theyre hoping this mass migration will move in. They really need to reinvigorate. They need to bring new people in if they want to stay relevant. Spent ive got to say, i a fair amount of time in new rochelle. You go around those cities, theyre huge, but you can see the cds that are trouble dish cities that are troubled. Cities that are troubled. Things were doing well and came undone. They are trying to reinvent themselves. I dont think its going to be easy. Vilda its certainly not easy. And there are risks here. Theres going to be this huge amount of inventories they might not be able to fill. The other thing is Walking Around the streets and talking to people who currently live in yonkers, new rochelle, theyre afraid their landlords will look around and say maybe i can do some Minor Renovations in the buildings i currently own, and i can hike up brent. And a lot hike up rent. A lot of residents are fearful their costofliving will have to go up and they will be driven out of those areas. Ol from luxury houses and housing. Jason heres our interview with the ceo of luxury wash maker, dennis. If we want to keep young generations interested into mechanical watchmaking, and not have them not wearing a large, or only a smartwatch, we have to be a difference maker. Jason watches are, pardon the pun, are sort of having a moment. People are discovering the artisan nature, the craftsmanship carol was alluding to. Why do you think that is . Why are people pivoting back, and maybe away from the smartwatch . First of all, we live in such a fast world. I mean, this with the internet, between the social media dont forget, the mechanical watch is one of the few objects that will last forever. If in 1000 years, you have a watch and you have a watchmaker able to put some oil, it will still work. When you buy a cell phone, when you buy a smartwatch, you know the minute you buy it its already obsolete. People need to attach themselves to something that will last forever. Carol i think about the conversations we keep, this disposable society that we become, were used to hold something ever dads would fix something that became broken. I wonder if we are channeling back to that. Where you teeing what are you seeing in terms of consumers . What do they want in a watch . I think they by history. They by authenticity. Thats what they want. We are bombarded by marketing, communication, felicity everywhere, and they want to buy something with consequence. They ask how its made, how long does it take . Physically, whats behind the brand and whats behind the price . We have to show you how many hours the watchmaker is working on the watch. Thats very important. Also, we need to show creativity and innovation. Jason Bloomberg Businessweek is available understands now. The 90th anniversary. I love it. 90 years, not a millennial to say the least. That magazine, its seen some things, and had huge issues of the day. Carol thats whats remarkable, whether racial issues, women on wall street. Were still talking about them today. Its about influence data, and that is key in terms of pushing government on policy. This is really the word of record, if you will, when it comes to business. Jason and continues to be. Check out our daily podcast. Its available on apple podcast, soundcloud. Carol good stuff. More Bloomberg Television starts now. Taylor im taylor riggs in for emily chang and this is the best of bloomberg technology. Coming up, teslas turnaround. At least one analyst says it looks incredible. We hear about a guest who raised his price target to 370. Plus, covering all of tech in the new years with one of wall streets most wat