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Transcripts for CNN CNN This Morning 20240604 13:53:00

people with a laptop job will be flexibility. the reason why, i think this is going to be employee and market-driven market, not an employer-driven market. maybe a recession it is. and we companies want to have the very best people. and the best people are in san francisco, the best people are in new york. the best people are everywhere. they re distributed. i now have to believe that i have a greater competitive advantage by limiting people to a community radius outside of my office, which means i have not as much talent, but get enough benefit of them being in an office. most companies we found that were just as productive on zoom, if not more productive. but we can hire from everyone, increase diversity. and i think the way to predict the future is to look at what young people and young companies are doing, and they are voting with flexibility. that s where i think the future is going. but every ceo has a prerogative to run their company differently. he s chose one path with flexibi

Transcripts for CNN CNN This Morning 20240604 13:54:00

times in human history. and the office is now zoom, the theater is now netflix. the mall is now amazon. so we also don t want to live in this dystopia where people never leave their house. that s why we re still trying to gather employees, at least one week a quarter. and we try to do a lot of gathering. but we ve not chosen this whole five five-day-a-week or three-day-a-week hybrid. there s been a lot written about the big tech billionaire bros. you told me once when we talked about a year ago, a lot of people don t think big tech has their interest in mind. meta right now, facebook, what s happening at twitter, ftx and the crypto crash, is this a paradigm moment for big tech? is this a moment of reckoning? i think it s like we re all in a nightclub and the lights just came on. so i think that suddenly, i think there s this exuberance, this euphoria, and now we all have to like take hard looks at

Transcripts for CNN CNN This Morning 20240604 13:55:00

things. and i think there s been the ultimate reality check. and i think you could say that about a lot of different sectors, a lot of different industries. my concern with crypto wasn t the underlying technology. my concern with crypto, for example, has always been the frenetic, like, get in before it s gone, and i just think that was not a responsible like approach. and i think silicon valley has done so many amazing things for the world. but we have to be careful having a fetishization of new technology, as if the new technology will solve all the problems that the last technology created. we need to marry technology with the humanities. we need more diversity in silicon valley, but that diversity should not just be demographic diversity. we need artists, humanists in this industry. we don t just want to a, b test our way towards the next great experiment. i think that will be very dangerous, because human beings are on these platforms. people don t want to go into the office

Transcripts for CNN CNN This Morning 20240604 13:52:00

elsewhere. this was in a much better economy where people had other options. people thought, a travel company is not the place to be during a pandemic. so a lot of people left. and we just hunkered down. it was like a thousand of us got in a fox hole, rebuilt the company from the ground up and stayed really lean. and because we stayed lean, we generate a lot of free clash flow, so we re stepping on the gas, not putting on the brakes. if you look at what elon musk is doing, he s telling people, that they must return to the office, they have to work these extremely hard-core, long hours at high intensity. your approach is the opposite. and you re not cutting, you said. you re growing. we re growing, we re not cutting, we re not making people go in office. and doing really well. but, is elon musk the wrong approach? well, why you let me tell you why we re not making people go back to a office. i think the future is flexibility. i think after compensation, the most important be

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