Transcripts For FBC Varney Company 20240713

Connection, thats part of the chinese state. The United States is the number one largest for the economy and china is number two, and they are fighting each other, and therell be damage to global trading. Connell but trades only the tip of the iceberg. The real question is this are we in this together or going our separate ways . Chinas now in the hunt for new markets. You see that with things like belt anded road, part of an Economic Initiative to reach them into that billion market. Connell the next moves are crucial, and this is the challenge of china. Connell so for the United States to challenge presented by china is about much more than headlines generated during a trade war. Im Connell Mcshane. Over the next hour were going beyond tariffs to bring you a unique look at the clash of cultures and beliefs thatll shape the direction of the Global Economy for decades to come. Much of our conversation will happen here in new york, but well also take you to chinas capital city, beijing, and schoen general. Earlier this year i spent time reporting in both cities. Its busy, its loud and it is the Perfect Place to start if you want to really understand modern china. What do you think of the trade war between the u. S. And china, this city really is the center of ate all. They actually call it the Silicon Valley of china, and this is where it all began back in the 1980s. Since then its really been built up, and youll see the headquarters of some of the more famous chinese tech companies, zte, even huawei. And thats what brought us here to begin with. Huawei, the controversial Chinese Telecom giant accused of spying, blacklisted by the United States government. It was a 45 minute drive for us from downtown to huaweis Corporate Headquarters. We were met there by an englishman, vp andrew williamson, and we knew just by the extension of the invitation that huawei had a story it wanted us to hear. Why are you here . Well, weve always been very open and transparent about inviting journalists like yourself, esteemed journalists, news organizations to come and visit is huawei. I think theres lots of misunderstanding, lots of misinformation out there about what we do. Connell the biggest misunderstanding, williamson says, is theres no connection between huawei and the chinese government. That brought us straight to the most sensitive of topics, whether huawei can be used to facilitate spying if asked to by the government here in china. We operate in over 170 countries arounding the world, many of those countries are now deploying their 5g networks, and so we work very closely we those partners to build out the hardware. But at all times the telecom partners, customers are completely in charge of all the data. Its theres no need for us to touch the on any of the data. Connell theres no need for you to, but could you . No. Not without the permission of the telecom people. Connell could you do it without their permission . Is it technically possible . To my knowledge, its not technically possible. Connell we made our next stop at dji, a company that makes the majority of the drones sold in the United States. Officials there were quick to show us some of the latest in drone technology, even encouraging us to test it out for ourselves. Believe it or not, im the one flying this drone right now, so if i go this way, the drone comes with me. In a different time, dji would be celebrated both in the u. S. And china, but in todays world trust doesnt come easy, and Company Officials have to answer questions about whether their drones can be used to spy. I have a drone and i dont want my data to be seen by anyone, is that easy for me to do . How do i do that . The fact is that your data sits on the drone itself. Thats fundamental. Connell but does it automatically come back to you . No. Connell visiting company like dji and huawei gives us a sense of how companies operate, but beijing is still the center of chinas government and culture where the ancient mixes with the modern for many years American Companies look to capitalize on the Chinese Consumer while the American Consumer scooped up relatively cheap chinese goods. It was or at least seemed to be a mutually beneficial relationship. Somewhere along the line the rise of can china seemed to shift in many peoples minds from being all about opportunity to being more about competition or even a threat. That raises a central question for us, what will relations between the u. S. And china look like as in the transition continues . Translator you know that china is shifting from highspeed growth to high quality development. We are advancing the supply side structural or reform which means there will be some decelebration in the deceleration in the growth. Its unrealistic for the worlds second is largest economy e to sustain highspeed growth. As to whether friction has an impact on the economy, i think to some extent it does. The trade thats in china and the u. S. Reaches over 630 billion last year. With the imposition of tariffs, such a trade would be affected, especially greatly influenced the companies that rely on the u. S. Markets. Connell all right. We have a terrific panel assembled here in new york to talk more about these issues. The author of aftermath, jim rick earths, joins us rickers. Edward lawrence has been leading foxs coverage of the trade fight, and chief strategist patrick. I begin with you on this and kind of the big picture of dealing with can china. One of the things that strikes me as you heard there is over the last decade or so the attitude towards china from people in the United States has shifted dramatically. What have your observations been . Theres been a dramatic shift. Even the title of your show, the challenge of china, 10, 15 years ago it would have been called the opportunity of china, and the discussion would have been about how u. S. Companies can get into china, if theyre not, why arent they. A couple things changed. First of all, there was the 2008 financial crisis, and the recession that changed americans views of globalization. It also changed chinese views of the u. S. As an aspirational model. China has become wealthier, its also become more influential, and in the process its become more assertive about many things. Connell right. And then you have xi jinping who took office, promised a lot of reforms but instead has actually taken china in a more authoritarian direction, and that has caused concern not just on the economic front, but in terms of values and political influence. Connell jim, were going to come back to edward on the modern day reporting on this, but patrick bring up globalization which in many ways has turned into almost a dirty word for lack of a better term. So much different than it was say when bill clinton was president in the 90s that we have changed the way we look at that and, as a result, probably changed the way we look at china, right . Thats a good thing. Better late than never. Globalization was the idea that somehow we would help china get richer, give them access to our intellectual property, give them direct foreign investment, they would grow richer and want to be like us, the idea that we were an aspirational model. Theyre communests, theyre atheists, they have their own model. They were willing to take all the help and money, of course, but they didnt want to be like us. This idea that give them a little time, theyll get richer, theyll be just like us, that was a western myth. That was never true in china. Now with we have to con front this. In the 1960s nobody was saying why are the supply chains not in russia. Remember, it was a big deal when they sold pepsi cola. Its not clear to me why we do business this is where im going to disagree very profoundly. I think right now to draw a line between maos 1989 Tiananmen Square and xi jinpings bright line, i think that ignores a lot of whats taking place. Ive spent a great deal of time in china, much of my life. My first visit was in 1986. It is unrecognizable today, and im not just talking about material wealth, im talking about the daily life of people. You know, when i first arrived in china, people all worked for state work, it controlled every aspect of their life. They didnt own businesses, they didnt own property. Now they travel the world, they work, they travel, they study abroad. Things have changed significantly in china in ways that xi jinping has to contend with. He wants to take china backwards in many ways, its not entirely clear to me that hes going to succeed in doing that. Right now it seems hes dominant in that chinas going to an authoritarian direction, but the fact that china opened up to the world and the fact that we have actually traded with them and interacted with them has changed china in profound ways that i dont think weve seen the conclusion of. Connell i wonder how that affects how we cover the modern day back and forth between the two countries. You mentioned how president xi has taken a more author tate i stance on this. He has to show within the country itself that he is a strong leader, and he cant back down to the United States. He has to you cant give concessions and look like weak because theres always somebody behind him whos up to come forward. Connell i want to talk about this concept thats come up, thats been mentioned more than ever before, this word decoupling, kind of the buzzword for what might happen in the future. And the idea would be the world would kind of split into two, right . One system control by the United States, the other dominated by china. And, jim, when we were in china, we talked to a number of people about this. Interesting to get their views. One was a guy whos actually an american whos worked in Venture Capital in beijing. Well listen to what he had to say, here this it is. Are we seeing a true decoupling . I think some companies have started to do it. Theyre starting to make those efforts. Whether or not any of them are truly e selfsufficient, i think were years away from that, but i see an urgency and feardriven approach because of what happened with zte and huawei that they need to decouple their reliance on inputs. Connell all right, referencing the chinese viewpoint, which well talk about huawei in a moment, but, jim, in your view, you talked about how globalization didnt work. Are we headed to a split, essentially, between the u. S. And china . Sure. The touchstone there is the speech that mike pence ghei in october 2018 gave, socalled pence doctrine. Its the only time trump didnt same something after himself. [laughter] we talk about the currency wars and the trade wars, and those are important topics, but mike pence put that in a larger context. He said we have to look at geopolitical confrontation in the south china sea, human rights violations, uighurs and catholics who are dissenters, they put you on the operating table without an anesthetic, remove your organs. Thats 40 youre dealing with who youre dealing with. And pence really set the stage for cold war two, which is where were going. Coral col you hear that from sours on both sides, edward, a quoteunquote new cold war . Well, the decoupling on the decoupling issue, about a month ago we did hear chinese sources are telling us the directive out of beijing is to dedown federal the United States decouple from the United States. The soybean industry, the imports of agriculture from ukraine hit record levels between china and ukraine. So trying to replace what theyre getting from the United States. And thats, thats the way their companies are moving at this point. Connell patrick . The United States faces a multidimensional challenge from china whether its on security, economics, etc. And the problem is that if we glob all those things together as one big problem, it may it virtually e insures that we dont solve any of them. Connell so your point is take them one at a time. Yeah. There are some things that are negotiable with china, some things are entirely unnegotiable with china. I think it makes sense, for instance, in some areas to decouple. It might not make sense for can Chinese Companies that, for whatever reasons cant comply with u. S. Securities laws to be listed on the u. S. Stock exchanges, trying to move them off of it might make sense for both countries. Companies such as huawei may, and its role in telecom may present security challenges connell right. That the United States has to respond to. But when people talk about this idea of complete decoupling, you know, weve never seen, cold war aside in which russia really wasnt the second largest economy in the world, weve never seen a world in which the two largest economies in the world are really at loggerheads with each other and trying to undermine each other. Connell thats the risk, right . What patrick e brings up in a good point. If we do go down this road, youve got to be careful what you wish for as a kind of final point on this topic in that what happens to global growth, for example, in this hypothetical where we truly go our separate ways . Well, people i keep pointing out the costs, and theyre correct, there are costs to trade wars, etc. , but how much does an Aircraft Carrier cost . It costs over 6 billion. The point is if youre in that kind of confrontation, these costs are relatively small compared to the alternatives. Connell want to make a final point, patrick . I think we need to be careful if we give countries and companies ultimatums, do business with the United States or china, we might be surprised which side a number of countries and companies choose. And china is sweetening the pot with the belt and road initiative. Connell right. Its been kind of a tough point in the negotiations here, weve been unable as the United States to line everybody up against china like some had predicted. Exactly. The president hasnt come to those deals yet, although we do have a deal maybe with japan, the European Union. But what this has done is brought the publicity to the forefront, talking about them stealing intellectual property, forced transfer of technology from us. It has brought other countries to sort of whisper about that, starting to talk about it. Not necessarily lining up behind the United States against china, but starting to talk about it and say, hey, they do that to us too. Connell all right, on that point, stay right there, we want to get into it a little bit more as we continue. Technology, thats what so much of this is based on, and those two terms intersect at the infamous electronics market. We have a tour that might help you understand Chinese Business culture ahead. Plus, fox business with a rare look inside the Corporate Headquarters of huawei. My interview with a topictive from that Controversial Company is also coming up. Im your mother in law. And i like to question your every move. Like this left turn. Its the next one. You always drive this slow . How did you make someone i love . That must be why youre always so late. I do not speed. And thats saving me cash with drivewise. My son, he did say that you were the safe option. And thats the nicest thing you ever said to me. So get allstate. Stop bossing. Where good drivers save 40 for avoiding mayhem, like me. This is my sons favorite color, you should try it. [mayhem] you always drive like an old lady . [tina] youre an old lady. Most people think as a reliable phone company. But to businesses, were a reliable partner. We Keep Companies ready for whats next. man we weave security into their business. second man virtualize their operations. woman and build ai customer experiences. second woman we also keep them ready for the next big opportunity. Like 5g. Almost all of the fortune 500 partner with us. woman when it comes to digital transformation. Verizon keeps business ready. thud crash grunting whistle play it cool and escape heartburn fast with tums chewy bites cooling sensation. Tum tututum tums here, it all starts withello hi . Ion. How can i help . A data plan for everyone. Everyone . Everyone. Lets send to everyone wifi up there . Uhh. Sure, why not . Howd he get out . a camera might figure it out. That was easy glad i could help. At xfinity, were here to make life simple. Easy. Awesome. So come ask, shop, discover at your local xfinity store today. Connell well, certainly you heard about intellectual prosecute theft. American companies being forced to give away Crucial Technology in order to access the chinese market, and almost no one disputes thats happened for many years. There is, however, something deeper at least worth looking at, and that is the role that culture plays in all of this. So with that, we take you back now to the city of shenzhen. This sprawling metropolis of 12. 5 Million People was just a tiny fishing village 40 years ago. Now its home to some of chinas Largest Technology companies and the nations best known electronics market, the multifloor Shopping Mall is a tech geeks dream, but theres more to it than that. Is the iphone youre looking at here really an iphone . How about the headphones or the drone . Who really made them . Heres a new vocabulary word. It refers to the counterfeit consumer goods, lookalikes, knockoffs, and this market is traditionally full of them. Now, a although e the culture is changing in p lean years, the term has never really been insulting here. The products often had new innovations not included in the original. In the western world this edition may be seen as stealing, but perception is very different than reality in california. So with that, we hit the streets trying to get a sense of how the people and some to have government potentials view the growing tension between the u. S. And china. Not only to the world, but also technology, this may last for several decades. Connell how has the trade war impacted shenzhen, and are you concerned at all about the future . Shenzhen translator shenzhen is a major exporting city e in china in 2018 our International Trade stood at, actually, over 430 billion u. S. Therefore, shenzhen will inevitably face e the impact brought about by the trade friction. Connell just how profound that will be seems to depend on what happens to huawei. For many in the u. S. , the company is just too suspicious. The accusations of spying lead to National Security concerns. Here . Shenzhen, huawei is the citys largest employer. Probably one of the most advanced and developed cities in china, its also very outwardfacing city in term of its technology cluster. Is so here, certainly, things seem to be thriving more than ever. The energy, the dynamism and the Business Activities of the city to be very strong and continuing to grow. Connell all rightful more on huawei itself in a moment, but as the panel now rejoins us, the practical question when you look at kind of chinas way of operating, ed war, i think is one of enforcement which youve reported a lot on, whether china can be count to talk about intellectual property theft, to just transform its copycat culture even if it promises to do so. And thats the difficulty, trying to get an enforceable agreement. Thats why both sides are sort of dug in. When the chinese looked at the agreement made in may, some of the hardliners within china, our sources say, looked at that saying they would be bound by the language, and that sort of spooked them, so they backed out of it and deleted it. Thats a big issue, trying to get that intellectual property protected. Companies, obviously, for years have said its worth it to do the business in china than it is to protect our Company Long Term connell the larger point, there wasnt necessarily a gun to heads of American Companies, they did choose to go into a market, they kind of knew what they were dealing with. In bringing up and, guys, im fully aware bringing up the term culture, its loaded in many ways. People can look at that and say thats just an excuse, its nonsense because, you know, you cant go back and blame your culture for breaking International Norms or laws. What view do you have on whether china can actually change . I think youre right about culture. The communist Party Ideology is at odds with 5,000 years of chinese culture. Theyve been authoritarian, theyve had emperors, but they go through these long periods, sometimes several centuries, of centralization, decentralization. But china is not a particularly aggressive culture and not a particularly totalitarian culture. But what the communists are, theyre the ones who are kind of on the outs in terms of the chinese. What xi is doing right now, theyre setting the decline of the soviet union. Thats their model. And their view, it could have been finesse, it could have happened more smoothly, theyre saying that gorbachev was too liberal, eased up too quickly, and that led to fall of communism in the sow e set union. We dont want to make that mistake, so theyre going to take a hard line. Connell patrick . The issue of intellectual property is a very serious one, its forced transfer of intellectual property. So if you want to do business in china, if you want access to the market, you have to either pander technology or form a joint venture and happened over your technology. By the way, that violates wto rules. Its also espionage, Cyber Espionage where actually, you know, chinese have set up operations to go and take information from firms in strategic sectors and then parcel them out to Chinese Companies. It is a very serious issue. However, i think theres been a missed opportunity here because not only the United States is upset about this, but also europe, japan, others are concerned, and so the way that the trade war has been waged, its been framed as simply a u. S. china issue. And china has been able to realuate simply against the United States and everybody else kind of scurries out of the way whereas, in fact, there was forming a serious coalition of countries which were concerned about chinas behavior and want to change it. We, unfortunately, havent really tapped into that. Connell youre talking about tpp or more than that . I think it gets into ad broader issue that we were discussing before which is, you know, if the United States wants to present people with tough choices about you go chinas way or our way, then the United States has to offer something positive, not just negative. Tpp was part of that, to say look, you know, youd be part of something that moves forward in a different direction and, china, if you want to be part of that, fine. If you want to be left behind, fine. But think really, you know, browbeating china on these issues can go to a certain can have a certain benefit. And by the way, you know, we have actually the intellectual property issue has evolved over time. It used to just be pirating cds and things like that. And the United States did negotiate tough with china in the 1990s and got some serious concessions and improvements on that biharnessing the u. S by harnesses the international commitment. However, the problem has evolved and with it we have to connell well, we shouldnt give folks the sense that the u. S. Isnt trying to get a coalition. There have been eight or so meetings with japan, the European Union and the u. S. Trade representatives office, but right now its just words its awfully hard when were picking trade fights not just with china connell well, that is the larger point, right . You look at europe as the final point, and michael pillsburys going to join the conversation, and were going to talk more about huawei in detail with him, but if you look at that and its a good example many of the european countries, certainly true of the african countries still doing business with huawei, and were still trying to define in our own minds, it seems, what is huawei . Is it a chip in the trade war or really a National Security concern that we should be attacking . Its a major National Security concern. The europeans are good at talking, but theyre not good at doing anything. It requires United States leadership. The only thing worse than a poor communist is a rich communist. I dont know why youd want to enrich the society. Connell well talk more about that. Well move on and bring it back a little bit later on in the hour, but this issue of trust that we have been talking about already is, obviously, key both to the present and to the future of relations between the u. S. And china. So can anyone really trust huawei . Well take you inside the Company Headquarters when the Company Headquarters when the challenge of china cococococo Classical Music playing throughout Company Headquarters when the challenge of china cococococo vo the flock blindly flying south for the winter. They never stray from their predetermined path. But this season, a more thrilling journey is calling. Defy the laws of human nature. At the season of audi sales event. Its been reported that theres a cyberattack on business every 39 seconds. Ouch. I dont even want to think about it. Comcast business has a solution. We go beyond fast with a cloudbased Security System that automatically updates, so you always have the latest protection. Phishing. Malware. Risky sites. It can help block all of that. Its one less thing for us to worry about. Comcast Business Securityedge automatically protects all the devices on your network. Call 18005016000 today. Going back to the doctor just for a shot. With neulasta onpro. Patients get their day back. To be with. Family. Or just to sleep in. Strong chemo can put you at risk of serious infection. In a key study. Neulasta reduced the risk of infection from 17 . To 1 . A 94 decrease. Neulasta onpro is designed to deliver. Neulasta the day after chemo. And is used by most patients today. Neulasta is for certain Cancer Patients receiving strong chemotherapy. Do not take neulasta if youre allergic to it or Neupogen Filgrastim . An incomplete dose could increase infection risk. Ruptured spleen, sometimes fatal as well as serious lung problems, allergic reactions, kidney injuries and capillary leak syndrome. Have occurred. Report abdominal or shoulder tip pain, trouble breathing. Or allergic reactions to your doctor right away in patients with sickle cell disorders, serious, sometimes. Fatal crises can occur. The most common side effect. Is bone and muscle ache. Ask your doctor. About neulasta onpro. Pay no more than 5 per dose with copay card. Connell so are we really headed into a new cold war with china . The fate of huawei might hold the biggest clue of all. Blacklisted in the United States, the Company Either a large threat to National Security as a potential conduit of spying or simply a point of leverage in a trade war. I sat down in shenzhen with the huawei executive, andrew williamson. Huawei is a privatelyowned company, and more than that you have the unique Ownership Structure in which all the employees have an ownership of the company, okay . So kind of a company thats held in trust for the benefit of the employees. There is no real connection to state in china. We are part of a thriving private business sector, so i think thats probably fundamentally the biggest misunderstanding connell that theres no connection between huawei and the chinese, chinese government, no direct connection. Joined by the director for chinese strategy at the hudson institute, author of the hundredyear marathon, michael pillsbury. Michael, thank you very much for coming on for our special coverage, the challenge of china. Ill start with huawei, hopefully broaden out the discussion, but this idea do we have to make a choice when we look at this company as to whether its just, as i said earlier, a point of leverage in a trade war or really a true National Security concern. Which is it, or can it actually be both . It can be both. I think the putting huawei on the entity list, the blacklist, if you will, theyre not the only one. Theres another six Chinese Companies that are on it and, frankly, its part of a much larger problem. They used to be known as the National Champions problem, National Champions are companies in china selected by the government. Some can be stateowned completely, some can be half and half, some can be more like huawei where there is private ownership, and it can claim to be a private company. National champions get subsidies, they get espionage assistance to be hold toll by the chinese spy services what their competitions doing around the world. They get a lot of benefits from the government. And this has been part of what chinas predatory behavior has amounted to. This upset President Trump i think correctly so much. So its unfair to sing about huawei as the demon and everybody else in china is okay. Its more like huawei is particularly successful to become the number one telecommunications manufacturer in the world. They were allowed to come into Rural America and set up our 3g, 4g infrastructure. Huawei is everywhere inside the United States. So we cant demonize them as evil and forget the other National Champions. Connell right. Thats the heart of the trade talks, what President Trumps trying to do, make china play fair and especially cut out technology theft. And im afraid what huawei is guilty of a number of these things. Connell okay. Is so like many things weve been talking about this hour, it is somewhat complicated which is why i wanted to ask you some questions about how you arrived at where you are now. I mean, youve been in the news a lot as someone close to the president advising on china policy, known as a, quote, china hawk. [laughter] but, you know, those one or twoword descriptions sometimes dont kind of tell the whole story. So you werent always in the same position as far as how you view china now. I know youve one about this, but i think its instructive to people in kind of understanding maybe their own journey of how we should view china. What changed for you over the years . Well, its not just me, connell. And i write in hundredyear marathon, its the president s i worked for. Initially, a lot of our president s agreed with china. They thought this is our ally against the soviet union, and china was. President reagan was a great anticommunist. He authorized cia to buy 2 billion in weapons from china to provide them Freedom Fighters in various places. So we then sold china weapons, almost more than a half billion dollars worth including to have to have pee torpedoes and other weapons. That was the golden age of our delusions about china as possibly even replacing britain as our special relationship in the world. Connell com right. And china got a lot out of it. We didnt understand at the time that they had a Bright Future to become the number two economy in the world. We all thought that china president s, i mean, thought that china would be kind of a poor, backward country forever. So our policy, these policies are all still in effect today. And what President Trumps trying to do is focus on how much this has hurt america. As he says, we built or we rebuilt china, sometimes he says. Connell right. The thing that im curious they have stolen it from us. Connell right. And weve talked about that throughout the hour and in the context of huawei and other companies, but if we were to, you know, too accommodating if you want to use that phrase or maybe still are, is there a risk in your mind that we swing too far the other way now as this back and forth continues . Yes, theres a risk that the chinese reaction to President Trumps requests to play fair, basically, that the chinese reaction is going to be so offensive that well end up with a cold war 2. 0. I dont believe were anywhere near that now. The idea of a cold war simply is not correct. Our largest Embassy Staff in the world, 2,300 officials, is in beijing, in our embassy in beijing. We have confluence all around china. Up until recently, they were our number one trading partner in many areas. We havent is cracked down very much. Tariffs can go to 50 or 100 . This is a very low level of tariffs that the president has put on. Only a few of the National Champions have been put on the blacklist. So i see this as early phases of a potential cold war if china resists President Trumps really very reasonable requests. Connell okay. Well keep talking about it, but mike pillsbury, its always great to get your analysis on these issues. Thanks so much for coming on. Im a little bit optimistic, i guess you could summarize. Connell well take things the way things have been going. We step away from some of these accusations and examine further the competition. Is china ahead of the game when it comes to 5g and some of the new technologies . If so, what does that actually mean for all of us . sure, the contents easy. But then you have to connect, download, edit, reformat, output, save, send, upload. Still uploading. And maybe eventually post. This isnt working. Introducing samsung business video solutions. With the galaxy note10, you can shoot, edit and post thumbstopping videos, all from one device. Samsung business solutions. Everything your trip needs for everyone you love. Expedia. For everyone you love. I want some more whats he doin . But, he cant look at him its just not done please sir. I want some more more . More . More . More . Please sir he has asked for. Thank you what . Well he did say please sir yes he did and, thank you yeah. And thank you hes a wonderful boy laugh a delightful boy all boys thank you, thank you, thank you. Connell we talked a lot about the controversy surrounding huawei. It is worth noting that the companys still a Global Leader when it comes to rollout of 5g, the next generation in wireless technology. Is so the question is whether that gives china maybe a leg up on the United States, and were going to talk about that. But first, we want you to see for yourself as it was shown to us at huawei headquarters. 5g will add 3. 5 trillion u. S. To the Global Economy, will create 22 million new jobs worldwide, and you can see here some of the various or or industries that will benefit. Manufacturing, we the, will be one of the biggest beneficiaries of 5g as manufacturing robots use 5g to control the automated manufacturing. Connell how would some of this speak compared to what we do now . On standard 5g in china, you will get 100 megabits on 4g. Connell right. If you go to other cities around the world, you may not get quite that speed because they havent built the same stations. But we are 5g will deliver up to 10 gigabytes per second. This is a realtime speed. Thats fast enough to download a High Definition movie in just two seconds. Connell okay. So when it comes to 5g, is the u. S. Really falling behind . We have the panel back with us, jim, edward and patrick. Jim, its this point weve been talking throughout the hour of all the issues between the two countries. Put those aside, look at the realities and the consequences of kind of the trade fight, are we falling behind and isnt that a major concern for you . Well, maybe in the short run, but we dont have to in the long run. Global development, middle income, low income and high income. When i study9 Development Economics in the 70s, we thought the hard part was getting from low to middle. Turns out, thats wrong. They can do legostyle assembly, people from the farm to the city and put things together, and they can make money. The hard part is getting from middle to upper income which would be 20,000 per year per capita, which is a pretty high hurdle. The only way you get there is not with lego manufacturing, its with High Technology and valueadded. And thats the hard part. Taiwan, japan after world war ii, special case, singapore and south korea. No one else has made it, and china is stuck in whats the middle income trap. The only way they can get High Technology is to steal it from us, and so if we starve their exporters, thatll put a lid on their growth. Connell the question is whether the trains left the station on that. In other words, in cutting china off, so to speak, or whether theyre at a point now where they have enough, and they can go on their own, and thats e a threat to the United States. What do you think . China needs to get out of the middle income trap, but i disagree the only way to get out of it is by stealing from the United States. In fact, they know what they need to do. They need to reform their economy. They need the open air economy. Theyve been relucking about the to do it reluctant to do it, and in some ways, theyre moving the wrong direction. The United States has its model which involves a free economy, free competition. I would bet on ours. And, you know, i think that, you know, china, its chinas model of innovation isnt going to out can it when cut it when it comes to making that stuff. Connell all right. Theres one thing that i kind of thought of while you were speaking there about the models of innovation, edward, and that kind of applied maybe to 5g, but also another area which is artificial intelligence. So in the chinese model, the thinking goes, the experts have said the quoteunquote kind of advantage when it comes to a. I. Is that they can, from that topdown structure, kind of do whatever they want. They can collect all the data in the world that they want on you, and that gives them an advantage because all of that data is gathered, and then you can roll out your a. I. Where the privacy concerns, obviously a good thing here in the United States in the society we live in, kind of hold us back in that socalled and competition. That and just getting there they have an advantage in terms of top down saying this is what were going to do. The whole sector goes e in that direction, and its driven by subsidies and what not. Our economy its marketbased. Its very expensive to invest in 5g technology, and the high news have been chinese have been helping their companies connell patrick, real quick. I remember growing up in the 1980s, and japan had a very topdown model of technological development, and they were going to eat our lunch op things like super computers. Connell right. And lo and behold, the United States operating out of garages, entrepreneurs operating out of garages invent the pc, and thats, you know, thats where i think the disconnect is that i say, you know, we have our model, and i think that, you know, this notion that chinas going to simply eat our lunch connell not true. Is not necessarily the advantage that it seems. I agree with patrick that the way off the middle income trap is to liberalize and reform your economying but thats exactly what they cannot do. The communists have a choice, if xi has a choice, theyre going to maintain the party even at the expense of economic growth. And yet he outlined a whole series of things that china was going to do, havent done admittedly, but that they know they need to do to break out of that trap. Connell sounds like the [inaudible] hes got the hardliners that are behind him pushing him in the direction now pulling him. Hes one of the hardliners. [inaudible conversations] they seem to come together in may, almost connell well, yeah, right. And then all of a sudden connell that seems like a long time ago. I want to squeeze one last break in. When we come back, well get final thoughts from the panel. Theres a lot of talk about value out there. But at fidelity, value is more than just talk. We offer commissionfree online u. S. Stock and etf trades. And, when you open a new Fidelity Brokerage account, your cash is automatically invested at a great rate thats 21 times more than schwabs. Plus, fidelitys leading price improvement on trades saved investors hundreds of millions of dollars last year. Thats why fidelity continues to lead the industry in value while our competition continues to talk. Talk fidelity. Are Critical Skills for scientists at 3m. One of the products i helped develop was a softer, more secure diaper closure. As a mom, i knew it had to work. There were babies involved. And they werent saying much. I envisioned what its like for babies to have diapers around them. Thats what we do at 3m, we listen to people, even those who dont have a voice. At the end of the day, we are people helping people. Connell okay, welcome back. And as weve been talking about the challenge of china may just be Getting Started in some ways. So i want to get final thoughts from our panel. Thanks to all of you for joining us throughout the hour. Jim, start us off with whats important to keep in mind here . Whats important is u. S. National security, and thats whats at risk. Comes back to the pence doctrine. This is much broader than trade wars. My wife and i were discussing, we got some email traffic about some credit card issue the other day, and i woke up from some bank wed never heard of, i log on, and theres a banner ad for that bank. Thats not a coincidence. Google is spying on me. If you dont want them in your pocket, you dont want them in your house or country if you can avoid that. There are costs associated with that, i dont deny that. But the costs associated with everything, and the military confrontation is a lot more expensive than changing technology. Connell edward, well come back to you in a moment for reporting on this but, patrick, your final thoughts on what people should keep in mind if you stay e big picture on the relations between the u. S. And china. Weve gone from thinking that talking with china will solve everything to talking with china will solve nothing. And i dont think that either is true. The United States needs to be tough, needs to be strong, but it also needs to be discerning. It needs to separate issues where we can find solutions with china, issues where we cant but we need to manage the conflict to issues where we actually have to go to bat for things that we believe in. And so i think that thats really the thing that we need to do, otherwise we will, in fact, find ourselves is simply in conflict with china and on the path to military confrontation. Connell edward lawrence. If they meet, theyre supposed to meet, theyve talked about meeting. Theres another phone call, back and forth, talking on the phone is a good step but if and when they do meet for the 13th round of face to face talks in washington, will the chinese come back with what they took out of the trade deal last may, and thats the big question were looking for. Connell i think whether or not the goal of this is and we have even had both sides this hour, jim s is a trade deal which, you know, whether short or long term, some sort of agreement that sets the rule or something, you know, larger than that in this longterm conflict. Okay. Is so china lied about Exchange Rates in 1994, they lied about the agreements to the wto in 2001, they lied to imf thats their track record. And and so without verification, hong kong is a microcoz m. Watch hong kong and youll see the future of the relationship with china. Connell to you agree with that in terms of the importance of that conflict and those protests and the back and fort there on the larger relationship between the two countries . If so, how does it apply . I think hong kong presents a choice for china. In many ways its the goose that lays the golden eggs for them. Its access to capital, access to the outside world. If they kill the goose that lays the golden eggs, it will have consequences that are innate, theyll lose that, but it will also shape how the rest of the world views china and what it has to offer the rest of the world. So i think that theres a lot at stake for china in how it handles hong kong. Connell edward, the thinking on both sides or maybe it differs on each side is that the goal here is mutually beneficial existence or its really going in the oh direction. Well, thats what the chinese are saying, we want a win win. Thats what theyre saying. You know, theyve gotten to this point by what theyve been doing, so what incentive do they have to change . And the u. S. Is saying, well, you have to change, and now the president s trying to give them an incentive with these tariffs slowing down their economy. Connell its been a terrific discussion, jim, edward, patrick, great stuff. Gentlemen, thank you very much. We started the hour by telling you its complicated, and now we hope you not only understand why thats the case, and it may be an understatement, but we also hope you have a better feeling for why the challenge of china is so important for all of us. Im Connell Mcshane repororororr most people think of verizon as a reliable phone company. But to businesses, were a reliable partner. We Keep Companies ready for whats next. man we weave security into their business. second man virtualize their operations. woman and build ai customer experiences. second woman we also keep them ready for the next big opportunity. Like 5g. Almost all of the fortune 500 partner with us. woman when it comes to digital transformation. Verizon keeps business ready. Fast cars, new cars, old car cars. Cars more famous than the celebrities that come to see them. This is, right. What is the the concours dontelegance. The Comfort Level may be a little different than what they are used to today. Safety features werent exactly standard. You dont want to be in the frontend collusion in this. Oh, yeah the whole safety thing and most of us dont have a money to own one. Can drive it later. [laughter] jeff i dont want to get used to it, i drive a ford because thats all i can afford. But for a car lover this is almost like a dream. Quite frankly the stuff that i see when im sleeping and my eyes are closed. Jeff Fox Business Network goes to the pebble beach concours delegance. Hi, im jeff flock and for the next hour we will show you up close and personal some of the vehicles. I tell you theres a new appreciation for these vehicles, we talked to young people who say they loved these old cars, yeah, they dont drive themselves, yes, they are not electric but they are rolling works of sculptor. Some of the most expensive sought after cars in the world. Modern cars to my mind are appliances and theres nothing wrong with having a Great Appliance but they dont make my heart beat. Jeff its a competition, the rarest most well resourced, very best example in the history of a motor cars. Through the mountains, valleys, rocky coast of monterey peninsula, nature, manmade creations through it, mcs. Lets see the cars drive, thats what Everyone Wants to see. They a do drive. Some people dont realize that, that these vehicles are all in driving condition. Is that a ferrari over there . Yes, its a ferrari. These were race cars. Jeff phil hill the only american formula one World Champion but his interest in the classics that turned this show around more than half a century ago. It used to be these kind of car shows all celebrated new vehicles but the older ones that we are looking at here, i mean, thats just incredible, isnt it . Thats a packard. My father loved packards and sort of my accident. He restored his 1931 chris arrow and he was able to bring that up and he won the road races that weekend and won best of show and that was the first year in 1955 where the show started looking at older cars that were now being honored as best of show winners. Jeff youre looking at a 1928 bentley and it is the pride and joy of rob kaufman. Thank you very much, great fun car. Jeff can relieve yeah, we got in. Great for 24 hours of a month, thats what this car was made for. Jeff what drew you to this vehicle, you have choices, why this one . You know, its hard for something to make it 90 years without it being messed up. Ititit was restored, the originl parts, the engine it was born with, redone, modified and thats sort of unusual. Jeff i am sitting in the backseat of 1907 napier. Looks like it same off the show. It looks like but its very original. It has huge engine, very, very strong engine. In those days they made speed records and the speed records kept for 15 years. Jeff napier made by British Company 24 Miles Per Hour in 1907, world record that, indeed stood over a decade. My passion is to keep everything very original, dont change it, it should be there like it was in 1907. Jeff this is the french built with custom body, the owners brought it from halfway around the world to compete here at the concour. This has come from switzerland, these are the proud owners, why did you agree to bring the car . Its a great opportunity to participate in this event, i always wanted to go as visitor but when youre invited to come, thats great. Jeff what do you what drew you to this car . First the looks, looks great, then history and its quite rare, its not like ferraris, everybody has a ferrari. Not everyone has the ferraris jeff one to have reasons why it attracts the rarest and best cars in the world to be judged by the most expert judges steve broward is one of the judges. 1933. 1933. 12 cylinder sedan. Jeff collects the big American Classics like packards, cadillacs and this. If you have a hispano suicia, you likely have the man who wrote the book as a judge, the greatest judging book in the world. Jeff the fame of the owner does not get your car in pebble beach concours delegance, now if your car is famous. People ask me how do i get my car in pebble beach, im a famous guy, do i have to right the buy car. I would say its all about the car. It is a place where both the cars and the car owners are driven. When they bring a car to pebble breach they beach, they are completely prepared, someone successful in life, worked really hart, detailed oriented, has a passion for the car, not just engineering but the history, the colors, amazing how they get into it, they did that so well in business because they were like that as well. And with that the engines fire up for the rest of the tour elegance. Visceral experience for sure. Jeff as the rolling cars roll up we take you to kickoff in monterey, the original hanger party, beautiful cars and people. Somebody that loves cars one way or another, are they here and the answer is they are im your 70lb st. Bernard puppy, and my lack of impulse control, is about to become your problem. Ahh no, come on. I saw you eating poop earlier. Hey my focus is on the road, and thats saving me cash with drivewise. Whos the dummy now . Whoof whoof so get allstate where good drivers save 40 for avoiding mayhem, like me. Sorry hes a baby thud crash grunting whistle play it cool and escape heartburn fast with tums chewy bites cooling sensation. Tum tututum tums im part of a community of problem solvers. We make ideas grow. From an everyday solution. To one that can take on a bigger challenge. We are solving problems that improve lives. Jeff beautiful cars, beautiful planes, beautiful people, it is unofficial park of the concours. The brainchild of gordon. 28 year of putting the party together, we pioneered the concept of bringing aviation and automotive interest together. Jeff many people do so on private planes, so combined the lush Red Carpet Party of its kind for those who can afford to be there. You could collect stamps or something and then you could have your entire collection in a book this size or you could collect cars in which case you have a bigger offering, let me put it that way. Peter would know, museum in california which houses the finest collections of french cars in the world. It perhaps goes without saying that collecting classic cars requires great resources, but turns out also its not bad investment. You can collect coins, you can collect furniture, you can collect stamps, you can collect gold, so which of those collections have grown in value over the last 10, 15 years, the answer is collectible cars have led the pack more than any other single collectible item. Jeff when it comes to making money the keys are scarcity, pedigree and possible fame. This is the worlds most famous car. Undoubtedly. Jeff it is, right . Yes, 100 , this this is the s Ashton Martin. Jeff im told this has 13 different gadgets, we didnt see them all in the film, i dont think. Quite amazing the car built by Ashton Martin with those very gadgets. As you saw here, the bullet proof screen. Jeff what else am i looking at here . Smoked screens, the machine guns do in fact, bang and do repeatedly. Jeff the james bond car sold for 4. 6 million. Why . First and foremost it is a dv5, a beautiful stunning car on itself. Jeff pedigree. To have the film, authenticated by the factory, in an auction standpoint thats opportunity quite frankly, one of the opportunities not to be missed, again, the most famous car in the world. Jeff while the bond car was restored theres another trend in collector cars leaving worn enough alone. Allen continues our tour. Okay, we all know what the logo is, but i tell you im drawn to the seats, look at the seats. Thats the originality you cant replicate, its meant to be that way and in our humble opinion its a darn hard thing to restore. I believe thats the only remaining california spider that level of originality to it. Jeff another example of increased value, this Ashton Martin db2. Looks like it came out of a barn. Right. Jeff it did . Its original 1 and has so much character, tells a story, incredible by charming and as we say if you were to restore it thats irreversible decision. Jeff later we will take you inside the Good Company Auction and what was the biggest auction winner of the week, but next up while the concour is all about the classics, the great past cars to have past, the worlds most exclusive automaker use to take wraps of new car that hopefully one day your children will treasure. When we come back we take a ride in a car built in mexico by a in a car built in mexico by a Mexican Company and its the Doctors Office might mejust for a shot. O but why go back there when you can stay home with neulasta® onpro . Strong chemo can put you at risk of serious infection. In a key study neulasta® reduced the risk of infection from 17 to 1 a 94 decrease. Neulasta® onpro is designed to deliver neulasta® the day after chemo and is used by most patients today. Neulasta® is for certain Cancer Patients receiving strong chemotherapy. Do not take neulasta® if youre allergic to it or Neupogen Filgrastim . An incomplete dose could increase infection risk. Ruptured spleen, sometimes fatal as well as serious lung problems allergic reactions, kidney injuries and capillary leak syndrome have occurred. Report abdominal or shoulder tip pain, trouble breathing or allergic reactions to your doctor right away. In patients with sickle cell disorders, serious, sometimes fatal crises can occur. The most common side effect is bone and muscle ache. If youd rather be home ask your doctor about neulasta® onpro. Pay no more than 5 per dose with copay card. What are you doing back there, junior . Since were obviously lost, im rescheduling my Xfinity Customer Service appointment. Ah, relax. I got this. Which gps are you using anyway . A Little Something called instinct. Been using it for years. Yeah, thats what im afraid of. He knows exactly where were going. My whole body is a compass. Oh boy. The my account app makes todays Xfinity Customer Service simple, easy, awesome. Not my thing. Some people say thats ridiculous. I dress how i feel. Yesterday i felt bold with boundless energy. This morning i woke up calm and unbreakable. Tomorrow . Who knows. Age is just an illusion. How you show up for the world, thats whats real. Whats your idea . I put it out there with a godaddy website. Make the world you want. Absolutely, i think thats what we are, we are true to our history but at the same time when you look at concept cars, thats what its all about, the promises. Jeff making u. S. Debut, this is the bmw vision, the companys vision for the electric future, plugin hybrid with twin electric motors delivering 600horsepower. Bmw also unveiling a recreating version of legendary concept car, the garnish which went missing after it debut at 1970 geneva motor show. Jeff in an explosion of music and color rollsroyce revealed pebble beach 2019 collection, clients attending car week in m monterey, unveiled but already spoken for as well, the lamborghini, 63, named to mark the year the company was founded and theyre making only 63 and all of them are sold. Even a more limited edition, the 110th anniversary of bugatti, ceo gives fox business a look at a car only 10 people will be permitted to buy, also limited the top speed, thats 236 miles an hour, though, it could go faster without electronic governor. Engine with 16 cylinders, it has 1,600horsepower which is incredible. And if you cant afford any of the above, bmw also chose pebble beach to bring out the production versions of m8, starting at 133,000, the new flag ship model of bmw line lin. Clutch to press, brake to press. One of the most intriguing unveils comes from the Company South of the u. S. Border. We are getting a ride in something that i almost want to say guaranty you have never seen before. This is the only vehicle currently designed and built in mexico by a Mexican Company. The company is buhl, long u, street legal but a racer and goes very fast, 170 miles an hour. Goes 0 to 60 in 2. 7 seconds. Its called the buhl rr for road and racing and the brainchild of these two bears, echeverria brothers. Are youre right, jeff, we are proud to launch the buhl branch by the way. Vehicles of ultra lightweight and high performance. Kind of interesting niche, right, these are street legal cars but they go very fast. Yeah, i would say those are race cars for the road. After a subtle warnings. I suggest you play it jeff dont goof around. Took it out on the road. As far as you can tell its got the the power to the point that andy is saying, jeff, i hope you know what youre doing. Not necessarily, i didnt crash but survived to continuing the story of the vuhl. Youre the only one that are making cars in mexico that are mexican companies. Its the only one at the moment, mexican funding with mexican owners, my brother and i. Jeff have you had enough cars for the moment and need a short break, we got you. Youre looking at the first ferrari engine ever put in a boat and the man who owns it, milton. Wow. Its great, its great. One of find kind, it pushes 500horsepower which back then there was nothing more than around 300, 350, so inzo himself worked on this boat and they designed the the super chargers, the heavier magnitos so you could put 24 spark plugs. Just gigantic, look at it. Corroborators and all. Jeff not only is it a big engine, it set the world record back in 19 what was 1952o. Jeff of 150 miles an hour on the water. That is correct. Jeff thank you and thank you for the interest in preserving this iconic piece of history. Yeah, im actually considering selling it because ive had it for 7 years. Jeff youre willing to sell. For the right money. We are hoping to get 20 million. Jeff one of a kind, yours for 20 million or so, give or take. Give or take. Jeff coming up it was 100 years ago that wo bentley launched a car company and one of its own is a top contender for best of show, bentleys usco celebrates occasion by taking us for our ride. Enjoy working and in some cases cases brakes screeching okay. So, today youre going to leave your phone with a guy named flip. ding but its more than your phone, its your business, your customer data, your sales figures. And who can forget, those happy hour selfies . Not flip. honking, gasping this isnt working. Introducing samsung Business Security solutions, with knox software. With the galaxy note10, you can remotely wipe data or lock phones, so your business is secure even when your phone isnt. Samsung business solutions. Bentleys are cool, the worlds fastest truck as bugatti said. One hundredth anniversary to have bentley, that dates back to 1929, all the way to birth, this is a one from 28. This is from 1924 and you really got into the beautiful ones, this from 1935. Thats a Bentley Derby sports saloon. Next to that, 1927 bentley. 3 litter liter in that one, another convertible. This is a core liter dating back to 1931, this is the one we are driving and i think we will get a chance to and who better than the ceo of bentley today, about 100 years of this extraordinary automotive company. Is it hard when you have such tremendous history to live up to that or top that . How can you top some of those old bentleys that you see that are treasures . Yes [inaudible] consistent to our dna and combination of luxury and attention to detail, together [inaudible] to fall down, but if [laughter] its a very powerful car. Jeff bentley with resources of corporate parent volkswagen has strong lineup but struggled with sales, losses in the americas but gains in china. Right now despite fears about the Global Economy, things are good, yes . Yes, i mean, i can send [inaudible] so far its been good. Jeff the luxury market. The luxury market is very strong. We hope to continue this way. Anyway, what can we do about it. Still its hard not to love the old bentleys, in fact, 1934 competing with this plastic, lets meet the owners of this one and see what they went through to be here. Over the years the french have built beautiful vehicles and richard and melanie, love theirs, what is this melanie . 1938talbo lago and its a tear drop. They bought the car that it was restored and learned it wasnt a redo faithful. They actually researched the coach builder who grandson or son son. Son lives in paris and he had all the archives in his basement. Jeff this car . Yes. And so paul russell and his people, they went to paris i think 3 times and they researched what this car was originally was. We stripped the body completely down and mechanicals, power steering and engine, rechrome what needed to be rechromed . How long a process . The years. Jeff claims as the worlds finest restoration workshop, he and cars go back a long way. Having a ride in austin healy that was clearly built for entertainment and not for transportation. That kind of [laughter] that did it for me. Jeff the computer will never drive an austin the vehicles represent our technological heritage and i think its something to be recognized and preserved. Jeff which is now the only school in the country to offer a Degree Program in auto restoration. 21yearold blake is a junior there. From the beginning i picked up a paint gun, i fell in love with it, there it was magica. Jeff he got bitten by the bug and soon has love for restoring old cars. I thought that that was a totally unique experience, most people my age arent really into cars anymore and we are kind of unique at mcpherson college. Jeff donated a Million Dollars to the automotive restoration, as for their experience one of the most enjoyable aspects for me was the fact that melanie enjoyed it so much. Jeff still married and everything . I know, its worst than building a house. She hasnt seen all the bills, we may not be married for much longer. Jeff as for nate he has a message for fellow millennials that see cars like appliances than art . These cars are like nothing else on the planet and they all have a story to tell. When we come back we take frit the 1 to the third world of the auto world. We are looking at a diesel cadillac, mid80s, one of the worst cars ever made, finally something i can afford. 1965desoto, on top of truck. Jeff what possessed you . I wanted to do Something Different and i think we accomplished most people think of verizon as a reliable phone company. But to businesses, were a reliable partner. We Keep Companies ready for whats next. man we weave security into their business. second man virtualize their operations. Ad second woman we also keep them ready for the next big opportunity. Like 5g. Almost all of the fortune 500 partner with us. woman when it comes to digital transformation. Verizon keeps business ready. Welcome. Cars you could get a look at grease lighting from the movie grease and batman, the beatles and austin powers and being fully loaded and i think something that may be the best of all worlds. [laughter] yes, whats under the hood, jonathan. Just a Little Something, something. This car is not what it seems . Thats the whole point. The whole idea is as found, make people smile, no judgment, but enabling you to get out and enjoy it, so its classic transportation revisited in my modern concept. Modern car in every way except sort of by the way it looks. If you had a preset button, the volume out of control circuit volume, highend digital, its the best of both worlds. Jeff you get a door ding in the parking lot. Lighten up, pick your battle. Jeff what looks like a piece of junk to a real thing, quite a hood ornament. Its been called oil stain on the motor week in monterey. This is an old volvo with sticker on it perhaps you see, this is one in the category of swedish meatballs, others include japanese appliances, japanese cars, british, rust belt american junk, well, you get the picture. Is there a most rusted award because i will nominate this fellow, 1961 mercury. That was our finest ford product this year. 1946 chevy, 1 and a half tons, original work. He always wanted a unique truck. Is that a barbecue . Yes, it is. Jeff close to the feel tank and all . No, its on the opposite. Jeff could only get insurance if she only agree today drive it for shows, she actually drives it all of the time. Im not going to admit in any media that i use it anything other than for shows, show car purposes. Its our secret. Built to transport electrical mechanic and the funding ran out. Jeff thats an award winner. What did the gentleman do to deserve this award . He is well, he stayed all morning, so thats still here. At the concours delegance they spend millions and work for years to win an award. Here at the concours delegance entrance have a slightly different attitude. You have won an award i think hes won it in some jurisdictions. Just dropped the value of the car. Tremendously. Jeff what is this, by the way, sir . I cant pronounce it but i know the translation, the translation is small water droplets. It looks like more like an armadillo. Its pink on top of everything else. Oh, okay. You has this was custom. Jeff could this be a ferrari . Sort of. This is a 96 fierro. Jeff that would be the pontiac. We dont know what the owner was thinking or what he was high on. Jeff did you win it in a bet . We found it in ebay, it did not run, was sitting outside. You have different class awards but you dont want one guy winning four awards. Jeff really suck. I dont want to go into their head, theyll get a big head, we dont want that. Jeff we know where those guys are located, they are across town. We try to bring levity back. I think weve done. Jeff organizer of the chaos, alan puts it like this. You dont have to be a millionaire or billionaire to have fun here. Jeff especially if you own a yellow 1974 amc gremlin. How long have you had the car, sir . 5 or 6 years now. Jeff beauty. Did you lose a bet buying this or did you buy it on purpose . I bought it on purpose. Jeff next. 900, 1 million. [cheers and applause] jeff some more people buying cars on purpose. Thank you very much, indeed. Thank you very much, indeed. Jeff no gremlins plastic. Its our most dangerous addiction. So we took our worst vice, and turned it into the dna for a better system. We created bionic and put the word out with godaddy. What will you change . Make the world you want. Congratulations. This is what it looks like inside one of the multiple auctions that take place during the week of the concours, the Good Company Auction, charlie ross next to david gooding. They are auctioning a porsche. In just a moment we will see what is the biggest winner to have auction week, the most valuable car to be auctioned during the week, but first i want to show you some of the other vehicles that are on auction this week. We really scourer the world. Jeff variety of french cars. 1962 satron and has unusual custom coach work, its called ladende. Jeff does it means what it means . Its a dande, exactly. All we have formula 1 ferrari that he won championship with. Jeff actual car . Yeah, two races with the car and overall championship in the season, first time it has come to auction. Jeff whats the significance of this ferrari . One of the most gorgeous we have. It was built to compete and in the tour of france rate in europe and won the overall race, quite a successful car. Jeff many of the cars are one of a car truly. One of a kind, its the only one in the world, 1953, 3,000 with a one off coach work. Absolutely stunning car, a show car all throughout europe. Yeah. Yeah. The one of a kinds are particularly valuable. Yeah, i mean, when they are one of a kind its hard for us to put a value, who is to say theres no comps, we have to look at other similar one of a kind cars and make comparisons. Jeff the auction continues back in pebble beach, as you can see maybe the dollars or the values are in both british pound, the euro and the swiss frank, this represents the buyers out there and what sort of money they all bring to the table, for now, lets take a break, we are going to be back in a moment with 44, thats what we think is going to be the most valuable car auctioned all week. I want to introduce you to that car right now. Jeff it is perhaps no surprise a ferrari. But this one is a 1958 california spider, only 50 were built between 1957 and 1963, auction boss david gooding, v12 engine born with important to collectors and restored to 1958 show room quality. Lot 44 of 1958 ferrari, long wheel base. Jeff this is the one we have been waiting for, ferrari, california spider, long wheel base, convertible. This has been meticulously restored, this is not the original color, though, although some people think the gray color is maybe more compelling, i dont know, but this is one because of the restoration rides and drives tremendously well, its the star of the show, we think. Lets see where the bidding goes. 3 million. 4 million, 5 million. Jeff this is one where we have bidders around the world both online, by telephone, as well as the halls of the gooding company. 8. 7. Jeff has met the reserve. We learned that it will be sold the cars dont meet reserve and not being auctioned without reserve, then they can be pulled back and not sold and looks like that may be it. 9 million. For the third and last time sold your car, well done. [applause] jeff two bidders one on the telephone, another folks in person, when they walked out of the hall it was clear the folks on the phone got it for 9 million so far the highest bid, the highest sale at the show. We are almost to the end of auto week on the monterey peninsula, that means one thing we are about to learn the coveted best in show, would it be ferrari mm and 1928 bentley, 1938 french talbo. Napier from holland, you are one commercial break away from finding out. Quite frankly nobody needs to be owning any of those cars. Really, you could argue all day long, do you need a beg at fidelity, online u. S. Stocks and etfs are commissionfree. And when you open a new brokerage account, your cash is automatically invested at a great rate. Thats why fidelity leads the industry in value while our competition continues to talk. Talk, talk thud crash grunting whistle play it cool and escape heartburn fast with tums chewy bites cooling sensation. Tum tututum tums a more secure diaper closure. There were babies involved. And they werent saying much. Thats what we do at 3m, we listen to people, even those who dont have a voice. We are people helping people. 2019 pebble beach concours delegance winner is 1931 bentley. [cheers and applause] jeff perhaps it was destined to be bentleys year on 100th anniversary of its birth, this one went 100 Miles Per Hour, bentleys first win in concours delegance since 1965. The 1938 talbolobo came up short. A lot of people did tell us they thought we had the most beautiful, quote, unquote, elegant, striking car there. Jeff take of class sales is what more than magazine called 145 million, a third less than last year. Even though is Ashton Martin 4. 6 million, the french from 1913 went 2. 6 million, 1930, model j sport snagged 2 million, the 78 ferrari, 312t driven by nicky, hit 6 million, california spider brought in 9. 9 million u. S. Dollars counting the buyers premium. Theres also evidence in new crop of aficionados maybing finding antiques as treasure worthy. We refer to them as youngtimers, cars of 80s and 90s, what poster did you have in your bedroom wall . Well, those cars are considered classic cars. We have jeff even the 80s . Even the 80s. Jeff will soon have a College Degree in the trade. Paint and metal work is something that i absolutely love. I want to do restoration work and i want to recreate and just be a part to have history of these cars. Jeff auto week here in monterey has come to a close. It really was an extraordinary gathering of car and car lovers and automotive history and comes in a time when experts say pretty soon cars will be replaced with the ones that drive themselves, the roar of the engine will be replaced by the silence of electric power, important to note, the gas powered engine in these cars revolutionized the way we get around the world, horses to motorized vehicles but also important to note that when that happened the horse didnt go away, it was simply freed from the tasks of plowing and hauling and daily commute, free to be celebrated for its beauties and capabilities, now its all about the ride and the race, something tells me that whatever happens in the future the motor car will be celebrated in the same way. Hope youve enjoyed our special presentation on Fox Business Network, im jeff flock at pebble beach, as they used to say at the old gas stations, say at the old gas stations, happy motor harvey levin the objects People Choose to keep in their home define who they are. This is. Im harvey levin. This is a story about the babe ruth of professional wrestling. The incredible hulk hogan harvey hulk hogan put an entire industry on the map, but not without paying a heavy price. Hulk hogan the knees are fake. The hips are fake. The backs full of metal. Harvey hulk hogan became one of the most recognizable and beloved figures in the world, but behind the scenes, terry bolleas life was crumbling. You literally had a gun in your mouth. Yeah. Harvey an illicit sex tape would bring this American Hero to his knees. You used the nword. If this tape wasnt leaked, do you think youd be using that word today . But the scandal that could have broken him that is id work hard. Im in check with myself. Im happy, brother. Harvey hulk hogan, a life of the highest highs and the lowest lows. Oh, my gosh. It is so good to see you. Hey, my brother. Usually i see you in golds gym. Thats true, in los angeles. Well, were far, far away. Have a seat. Well, thank you for coming. So, um, i want to spend some time going through your life. But i want to do it with things you chose to keep over the years that are important to you and help define who you are. So im looking at that. What is it . My dad worked construction his whole life. Right. He dug ditches. He put the big storm drainage in the roads. This was in florida. And when i was about five or six years old, my memory is having this little gas truck. It was pink.  harvey why save that . What does it represent . It symbolizes how i grew up. I grew up in a very small, square little house, 650 square feet. And he had a tough life. My mom was a housewife, and i kind of kept this truck to make me realize i always wanted to work hard but i always wanted to make sure that i raised the bar. You know, and i never wanted to be in situation like that, where i remember them living check to check. There was always talk about my dads income and always talk about what bills to pay. I just made a decision that i never wanted to be in a situation like that. What are your thoughts right now, mrs. Hogan . Your son, the new World Champion. Im so excited i dont know what to say. You are not a tough guy by nature. No. cause its odd that youre this the icon of wrestling, and you werent really a tough guy growing up. Hulk because i was fat, and my head was so big. I got teased, but i wasnt a kid that wanted to fight. I was always really mellow, and i would avoid any type of confrontation. Even through high school, i never got in any trouble with fighting. I didnt fit in. I went all the way through high school, and i think my senior year i finally had a girlfriend. I think because i was so heavy, you know . It was just tough. When did you lose weight . Right when i was getting out of high school. I started eating burger king once a day and drinking diet cokes, and i started getting into lifting weights. Howd your mom influence you . Hulk my mom played piano, and she was our music teacher in the neighborhood. And so she would play all the time so i got real interested in music and i was very young, about 11 or 12 years old. My dad bought me this really expensive guitar. Is that it . Yeah, thats the guitar. Thats the guitar . Can i see it . Yeah. And you played this . Uh, yeah, i did for many years. You were in a band . I was in several bands. Let me see this thing. This is amazing. This is really coollooking. Yup, still plays. harvey laughs was your passion music or sports . My passion was doing anything to avoid working a real job. I was out on the weekends playing music and making money. Harvey your brother, he had a very rough going in life. Hulk he had a tough time with running around getting in trouble, you know . He, uh, got married to an older lady, had a beautiful family and passed away quite young. He just went down the wrong road. And got into drugs. Yes. Harvey and trouble. Yes. I can see it is still emotional for you and he died many years ago. As hard as this is to say, some people are in your life just to teach you life lessons, and when i look at my brother i look at nothing but positive stuff. I wish he was here, i keep a picture of him up in my house, a couple of them, and i wish he was here, but now i understand that he was in my life to teach me a life lesson. Whats the lesson . Of how to correct myself and reboot, which ive done over and over and over again until im finally happy with myself. How did he die . Um. Id rather not talk about that. Fair enough. So, all in all, your childhood. Um, happy, challenging . I look back on it now and wow, it was it was pretty darn rough. I mean, it could have been better but i didnt realize at the time that there was anything wrong. So i had a great childhood. Harvey this beach shop is awesome  hulk thank you. Well, this is like the transition. You know, ill always be part of wrestling so theres a lot of wrestling stuff in here and you know, stuff from my career and memorabilia plus since im on the beach and im the official beach bum around here were making the transition with the beach hats and the board shorts so its a beach shop for everybody that comes here to orlando. What are these . Okay, these are the boots as you can see theyre pretty worn out that i wore in wrestle mania 3, and bodyslammed andre the giant. Harvey this was to me the biggest moment that i can remember in your career. This you picked up a 700pound guy. Hulk yes, sir. This moment etched wrestling in the wwf wwe in history that we were not going anywhere. This was a huge gamble. We didnt know if we would pull if off. 94,000 people. I do not understand how you can lift a 700pound guy in the air. With a lot of help from him. It was a situation, if you watched the tape, when i went to go underneath andre roars when andre was coming, his arm went around my neck. Right. Well, actually this way. Went around my neck. Oh, he helped you. And he pushed up on my thigh. Announcer were seeing what this guy is really made of what he is the greatest professional athlete in the world today. Look at this in front of him i dont believe it i dont believe it hulk dropping a big leg over for the giant its over harvey but still.  hulk oh yeah, but it was okay when i got into here. And then when i got into here, i had all this weight and i had to turn him. And thats how i tore my biceps. Both biceps are torn. Harvey so that moment is when you tore the bicep . Hulk yeah, yeah. When i tore em. Harvey what about the back . Well, my inserts and up here where my backs supposed to ive got a big hole in my back from turning him, but, uh was that worth it . Yeah. Oh, god. It was a onetime deal for me. Yeah, onetime deal. But that moment changed my whole career because hulk hogan was off and running and hulkamania was off and running but that put me on a rocket ship. So, when you were growing up, you didnt like contact sports. No, not at all. You shied away from them. Not at all. I didnt like any type of confrontation. So, howd you get into wrestling . I was a huge fan. I mean, i just loved it. I grew up watching it. But you never joined the wrestling team in high school. No, sir. I had a really good band. And right when we were getting ready to hit the road, one guy was getting married, one guys wife had a baby and nobody wanted to go. I said, thats it, im done, im gonna go be a wrestler. So the worst thing that i did was i went all around tampa telling everybody i was gonna be a wrestler. The first day they took me down there, they broke my leg on purpose the first day. If wrestling were not fake, would you have done it . At the time, i didnt know you thought it was real. Oh, yeah. I didnt know it was predetermined back then. I guess when they break your leg, that kind of confirms it, right . But yet you didnt like contact sports. Thats right. So i dont understand that. I dont either. laughter i just love wrestling. I was intertwined in society americana. I was americana at the time. So why flip it and become a bad guy . Well, a lot of reasons. You have to reinvent yourself in the wrestling business and i wanted to be a bad guy because i thought i could make these good guys hulk hogans. I would get booed so much that i could give them my oomph. Thats when i reinvented myself. Thats when i said, all the training, the prayers, the vitamins, all the stuff i did for the kids, i did it for the money. You fans can stick it, brother yeah because. If it wasnt for hulk hogan, you people wouldnt be here hulk i thought id be the ultimate bad guy, which i was. Id beat guys up and then id cower like a chicken and beg for forgiveness and wanna shake hands and blow cheap shot em, you know . But the people cheered me and it backfired on me. I became hollywood hogan, that bad guy, in the back, with the black beard. And people were cheering me out of the building. It was amazing. The lines had gotten blurred at the time, so there was this big gray area in entertainment that the fans thought it was cool to cheer for the bad guy, hollywood hulk hogan, so i became bigger than ever again. announcer shouting indistinctly its kind of a statement about america, isnt it . That all of a sudden the bad guy gets cheered. Yes, sir. Its kind of scary. Ive had 17 surgeries in the last 10 years. Oh, my god. Whats not original here . Hulk the knees are fake, the hips are fake, um, the backs full of metal. And part of my face is full of metal. I didnt get the memo about the fake wrestling. I was gonna say. Yeah, i missed that part. I didnt get the memo about the fake wrestling. Most people think as a reliable phone company. But to businesses, were a reliable partner. We Keep Companies ready for whats next. man we weave security into their business. second man virtualize their operations. woman and build ai customer experiences. second woman we also keep them ready for the next big opportunity. Like 5g. Almost all of the fortune 500 partner with us. woman when it comes to digital transformation. Verizon keeps business ready. And my lack of impulse control, is about to become your problem. Ahh no, come on. I saw you eating poop earlier. Hey my focus is on the road, and thats saving me cash with drivewise. Whos the dummy now . Whoof whoof so get allstate where good drivers save 40 for avoiding mayhem, like me. Sorry hes a baby okay, i think i know what they are, but tell me. Voila. These are my very, very, very, very, very last set of crutches. Your last set . Yeah. When i first sent my first picture to jennifer of me in the gym i was posing, showing my tricep, and behind me there must have been 80 crutches, cause i saved all the crutches you get two at a time, by the way from all the surgeries, and even since ive been with jennifer, ive had 17 surgeries in the last ten years. Oh, my god. Hulk my knees, ive had three or four surgeries on my knees, each knee before i had em replaced. Harvey  whats not original here . Hulk the knees are fake, the hips are fake. The backs full of metal, and part of my face is full of metal. Oh, my god. Tell me about the injuries. I didnt get the memo about the fake wrestling. I was gonna say. Yeah, i missed that part. Its predetermined, you know whos gonna win or lose, but what people dont understand is that its very physical. And back in the day in the 70s when i first started, i still got, like, teeth marks on my finger. Theres a eyetooth there i can see it teeth marks of people trying to bite my fingers. Oh, my god had my eye reconstructed a couple times from getting hit in the face, nose broken 13 times, all these teeth, these fake teeth have been knocked out six times so, its been a wild ride. I remember reading things that you were 67 or 68. Yeah. laughs i gotta say, you dont seem 67 or 68 and i dont know whether theres a connection here. Hulk youre killing me.  harvey you see, not that youre not tall, hulk yeah.  harvey but you dont seem 67 to me. I was 67 before the rocky movie. How tall are you now . Im 64 and a half. How could you lose almost 3 inches . Fast forward 35 years later . Dropping a leg drop every night on my spine, two knee replacements, two hip replacements, nine back surgeries. When you get older, you kinda crunch up a little bit anyway. All those things added up so you know, its very physical. There are some wrestlers and maybe a lot of wrestlers who deal with this with alcohol and drugs because of pain. Yeah. How common is that . Its very common. When i was wrestling full time, all of us did. That was the norm to survive. Its hard to believe when you see somebody this big that steroids is not kind of the common drug in the ring. Okay. You ever do it . Yes. Yes. There was a time you said no. Yeah, one time. Ive trained 20 years, 2 hours a day to look like i do. But things that i am not is im not a steroid abuser, and i do not use steroids. And actually when i said no, i wasnt on steroids at the time, so i was playing with words. Knowing what youve gone through, if you could make a decision again on whether to go into wrestling having become the bionic man, would you do it again . Commentator 1 a running clothesline and macho going after the eye oh, no commentator 2 a fly commentator 1 he flyplants hogan oh, yeah. Id do it all over again. So tell me what that is. Well, this is the second or third attempt by stallone to get ahold of me for the rocky 3 movie. Vince mcmahon sr. s secretary got a handwritten note. Well, i called him right away, and the whole story is i flew out there, got in the ring with him. We did a couple things. He tried to hit me a couple times. See if you can grab me pretty quick, big guy. Which i did.  harvey this was an audition. Hulk  yeah, and they were filming everything. And so, i didnt have an agent, never had done anything before. He goes, ill give you 10,000 to do the movie. I went, nah, i want 15,000. So i did it for 14,000. No. Yeah. Wait a minute, he negotiated you down from 15 . chuckles well, yeah. I apologize. First of all, you should have gone for way more than 15. Well, i didnt know. cheering where are my love slaves out there . Thunderlips is here, in the flesh, baby now the character was great for you know, the females. Its the ultimate male, thunderlips. Look at those lips. It helped you get laid. Im talking about it helped me attract the opposite sex. Good match. Hey, whyd you get so crazy on me out there . Thats the name of the game. You ended up on the cover of Sports Illustrated. I cant get over that, because wrestlers werent on that magazine. And to be on the cover, that must have been a moment for you. Ah, its never happened since. Ive been the only wrestler ever to be on the cover. And at the time we had not deregulated wrestling, which means we didnt tell the people it was an actual exhibition and we know whos gonna win or lose at the time. We were still fighting that fight, you know, saying, this is a real sport. And i think hulkamania just got so popular and it was a such a cult following that Sports Illustrated didnt really have a choice. What was so crazy is when i went back and i wrestled the iron sheik, it was a perfect storm. Iran was holding, like, 400 hostages at the time. The iron sheik was really the real deal. He was the shah of irans bodyguard, he was the real deal. And i was doing allamerican hulkamania thing tan, full head of blonde hair, the real american, so, it was like the perfect time for this thing to take off. Harvey and it became really almost a show of patriotism in weird way, right . Yes, sir, it sure was. Commentator and now, World Wrestling federation heavyweight champion, the incredible hulk hogan i think changed the sport and the crowd because you were the first true entertainer. And i did that because i was not the greatest wrestler. I wasnt the greatest technical wrestler, but id had enough that i knew how to create emotion, how to create excitement, and tell a good story when i was in there. And i just prided myself on telling stories. What was the biggest perk of being a celebrity . The biggest perk of being a celebrity. Probably would have been at the airports. Harvey  what . You got through faster . laughs hulk well, youd get through faster but then when you got to the gate, thered be so much chaos because id stand next to oh, is the plane on time . And wed get swarmed by so many people, the gate agent would go, get him on the plane as soon as you can. Harvey thats funny. Biggest drawback. Biggest drawback, having to maintain and just really be cool and calm when it got extra, extra, extra, extra personal. They get me, like, caged in and i cant go nowhere. Why cant they just calm down a little bit . Because youre hulk hogan. Im hulk hogie. When youre sitting there with your wife and kids and youre eating dinner and, oh, hulk hogan, i want an autograph im your biggest fan, and their pack of cigarettes would fall in your food. Good to see you. How are you . Are you enjoying your steak . Im trying. You just had to go, i love you, brother. Ill take that picture and sign an autograph with you after i finish eating. There was a low point in all of this where you literally had a gun in your mouth. How did you get out of that . Well, i got to a point where everything kinda hit me at the same time. So howd you get out of that . I made friends with laila ali. Laila ali in some ways saved your life. I really believe that, that if she hadnt called just to say hello. It might have changed. sure, the contents easy. But then you have to connect, download, edit, reformat, output, save, send, upload. Still uploading. And maybe eventually post. This isnt working. Introducing samsung business video solutions. With the galaxy note10, you can shoot, edit and post thumbstopping videos, all from one device. Samsung business solutions. How did you find greatgrandmas recipe . Were related to them . Were portuguese . I thought we were hungarian . Grandpa, can you tell me the story again . Behind every question is a story waiting to be discovered. Apps except work. Rywhere. Why is that . Is it because people love filling out forms . Maybe they like checking with their supervisor to see how much Vacation Time they have. Or sending corporate their expense reports. Ill let you in on a little secret. They dont. By empowering employees to manage their own tasks, paycom frees you to focus on the business of business. To learn more, visit paycom. Com harvey so, whats this . This is a card from my soulmate, jennifer. Harvey your wife.  hulk my wife. Yes, my wife. And this is a letter she wrote me. Harvey when was it written .  hulk oh, my gosh. Well, this letter was written 121415. Ive known jennifer almost ten years now. So, um, this on our fifth anniversary and heres has a really cool passage in here. You are my best friend. I am very proud of you for how youve handled the different challenges that have come up. Now i feel its time for you to be rewarded for staying in faith, time for you to help people even more. I love you so much each day. Im totally grateful for being blessed with such a wonderful husband. Love you for life after life after life, bird. Can i take you way back . Sure. So, jennifer is not your first wife. You were married actually once before to linda. What attracted you to linda . I just filmed the rocky movie and i was hanging out with one of my buddies that went to high school with me here in florida. I just saw linda, was attracted to her. You know, she was a beautifullooking lady and she was just alive with energy, you know. Harvey  was she attracted to terry or hulk . I dont know the answer to that. I just think that as the pressure mounted and we got older and the kids get older, we just grew apart. Was it coincidental that the marriage crumbled around the same time as the reality show . You know, i dont think you can put those two together like that. Whats up . I cant live like this, terry every day, its drama. Its just ridiculous. In case you cant tell, ive had it, okay . Im spent. I got it, i got it. I dont want to make it work anymore. Im like over it well, im done with it. I knew that one of the problems in our marriage was linda, she said, well, ive helped you all these years and you know, i didnt have a career. And i looked at the reality show as a calculated risk because my marriage was already starting to implode and things werent good at all and i thought that maybe if we did a reality show, everybody would get busy, have a huge net worth, feel great about themselves. Oh, man, isnt that great . Get a good show. And it would just make things just channel in a different direction. That didnt happen. No, it didnt. It didnt. Harvey you know, when people get divorced a lot of times, you split things 50 50 down the middle, hulk yeah.  harvey and you move on. I read that you gave way more than 50. That was a big deal. Hulk it was a huge deal. My understanding was it was about 70 you gave up. clears throat there was a low point in all of this where you literally had a gun in your mouth. How did you get out of that . Well, i got to a point where everything kind of hit me at the same time the divorce, my whole world falling apart, both of the kids were with linda. And thats how i ended up playing with a gun. So, howd you get out of that . I made friends with laila ali and during the day i had several phone calls and i picked it up and said, hey, im just checking on you, i wanna make sure everythings cool. You know, we havent talked, because we were doing american gladiators together. Harvey right.  i said, everythings fine, everythings good. Im crying, you know, sitting in the bathroom. Did she have a sense . She knew something was wrong with me. So she literally calls you when youre holding this gun. Yes. Wow. And just her saying hello to me and saying, hey, were just checking. I wanna make sure everythings okay, that pretty much woke me up. In that moment, i said, you know what . There are a lot of good people out there. So, laila ali in some ways saved your life. I really believe that, that if she hadnt called just to say hello, you know. It might have changed. Have you told her that . I cant remember if weve talked or not. So lets talk about jennifer. Tell me how she changed your life. Hulk  oh, my gosh. She just, um we just kind of hit it off, and to be around somebody that was enlightened and real spiritual, which i didnt even understand. Every single day now is a good day for me. I dont have good and bad days. Ive got good days and ive got better days. What went through your mind when you first heard there was a sex tape out . I mean, you used the nword in this sex tape. That was the nuclear bomb, right . Yeah, it was. If this tape wasnt leaked, and suppose there was no gawker trial, you think youd be using that word today, when you got angry . Everything your trip needs for everyone you love. Expedia. Music time and time again, you know when im doing street magic. Ill walk up to someone and i can just see theyre against me right . They dont want to be amazed. They dont want this experience to happen. But then the magic happens. Can we be there . And all of that falls away. Oh, just think of the time i know that some will say come on man it matters a little babe. Stunned. I believe in magic. Its the experience of waking up and seeing things the way you saw them before they became ordinary. I needed to try amazement laughter i needed to fall thats the goal. Im looking for that experience of wonder. I need never get old so tell me what this is. Dying to see. Well, this is the legal pad that i had in court with me during the gawker trial, and what i did all day long was write. I just wrote all day long. Were you following the trial with this . No, i wasnt following the trial. These are just, like, affirmations, you know . I am only victory. Perfect health. In the middle of the trial . God fights and wins all battles. Still and stay centered. If you read all the stuff, i was praying the whole time. This is all god, god, god, god, god. Yeah, i mean. When i would go in there, i would walk in i would walk in with light, with this high vibration. Id write you know, id pray for these very talented lawyers of gawker to see the error of their ways and become great lawyers and help people. Why did you sue in the first place . I sued basically because i never wanted anything like this to happen to anybody else. When they first put the tape up we were very kind and asked them to take it down. When they said no, i said, okay, thats it. The allegations in that lawsuit state that approximately six years ago, the clems secretly videotaped mr. Hogan having private, consensual, intimate relations in a private bedroom. In the beginning of the trial, my attorney David Houston got an email from a lady whose husband had just committed suicide. A person he was having an affair with sent him a tape and he took his own life. I said, i know that feeling. I understand that train of thought, and i never wanted anybody to go through anything like i went through, and at the end of the day, you know, the First Amendment needed to be protected, our privacy rights. It put a very. Bad part of your life on public display. And that mustve been an issue for you before you decided to sue. Hulk it was, but this, um. Was much bigger than me or much bigger than my career. This was something that, you know, ive said it before and im not joking around. You know, as a wrestler, that was a great part of my life, but now that i understand why im here, wrestling was just setup. It was just a setup, a stepping stone for who i am and what im meant to do and be. No matter what happened to my career, this was so much bigger. What went through your mind when you first heard there was a sex tape out . I mean, you used the nword in this sex tape. In referring to brookes boyfriend at the time. What goes through your head to say, i will still fight even if that comes out, because that was the nuclear bomb, right . Yeah, it was. When i knew that was coming out, all the lawyers said, if you want to stop, you can stop. You dont have to go forward. Theres a huge amount of money being offered. This will never see the light of day. I went, i cant do that. Why . cause im not that guy. I have to be able to look at myself in the mirror every day. I have to be accountable. I have to be able to live with myself. And whats so cool about it is it did really wake me up. It really slapped me and woke me up, and it made me realize how powerful words are. For the people that know me and love me, they know who i am, you know, they know im not a racist, but i understand that people that didnt know me judge me, just from those words. Thats all they had. If this tape wasnt leaked, and suppose there was no gawker trial, do you think youd be using that word today when you got angry . No. Why . No, ive tried to clean up my whole life, you know . Ive made a whole switch, almost a shift, from being negative, or fighting, scratching, and clawing, cause i work hard and i move forward. Im in check with myself, so all this stuff comes back around. You have to be what you say you are. How do you think the black Community Views you right now . Whats so crazy is the black community has never backed away from me. As far as, you know, the black community and using the word, thats not part of who i am now. Thats not part of my language because i understand how powerful words are. You know, growing up in south tampa, where we came from, it was a situation where, when you played baseball and basketball and ran around in south tampa it was just Common Knowledge 45, 50 years ago, but its not that way anymore. Harvey you heard you were gonna get 140 million. Hulk yes, but harvey what went through your head . Hulk i just broke down. They said 143 million, i was like, what . It just blew me away. I just didnt expect it. It just was overwhelming. Harvey you eventually settled for 31 million. Are you set for life . I was set for life before i had that money. Im happy, brother. Things are good. One of the things that did happen was that the wwe broke ties with you. Yes. Did you expect that was gonna happen . clears throat no, i didnt. I when i heard this was going to happen, i called them on a thursday or friday, and i said, theres a chance that this verbiage may come out. As i hung up the phone that night, they fired me at 5 00 in the morning. And it really caught me off guard. I didnt expect it. Because the wwe knows who i am. Im not that person. Thats not who i am and not what i do. So why do you think they did it . I think they did what was best for business. They were worried about losing sponsors and network support. I expected Something Different. Is that the most painful thing in terms of the fallout . It was tough. It was tough, you know. It hit me hard. You know, theres ive been through a lot of highs and lows, when you look at a 40year career. Just. Gone. Now that time has passed, do you think theyll ever ask you to come back . Im not sure, you know. Would you come back if they asked . I dont know. I want to get into a tough subject, the car accident. Nick was in a car, and he had a passenger in the car, who was john graziano, former marine. Who, um, to this day is in a vegetative state after the car crashed. Do you at all partly blame yourself . [ drathis holiday. Ahhhhh ahhhhh a distant friend returns. Elliott. You came back and while lots of things have changed. Wooooah woah its called the internet. Some things havent. Get ready for a reunion 3 million light years in the making. Woohoo yeah i need all the breaks as athat i can get. Or, at liberty butchemel. Cut. Liberty mu. Line . Cut. Liberty mutual customizes your Car Insurance so you only pay for what you need. Cut. Liberty m. Am i allowed to riff . What if i come out of the water . Liberty biberty. Cut. Well dub it. Liberty mutual customizes your Car Insurance so you only pay for what you need. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Some people say thats ridiculous. Age is just an illusion. How you show up for the world, thats whats real. Whats your idea . I put it out there with a godaddy website. I have my good luck rock right here. So tell me about the rock. Well, this is a rock that i got in high school. You kept it . Yeah, i kept it, ever since 12th grade. Me and a buddy of mine had a big cooler of beer and were standing up drinking beers, and we picked this thing up and went, oh, this looks like the cromagnon man. You know, we had a little beer buzz on. It looks like a skull, and we went, thats a good luck rock. And i gave it to my buddy to keep, and we argued about it, and i said, no, you keep it. So he had it for a while, and got married and had kids, and went through a bunch of drama and things turned out okay, and he gave it back to me. He goes, you take the rock now. And i kept it for several years, and then when i went through the divorce, the kids were kind of torn, and i told my son nick, i said, nick, ive got the same power as your mom, 50 50. So if you want to stay here with me in florida, you can stay here, or if you want to go with your mom you can go with her. He goes, you know, dad, i really want to take care of mom. I said, well, heres my good luck rock. Take it with you and, you know, just take care of business. So nick took off to california and a few years later when everybody got settled in and everythings okay, he gave me the rock back. So this is my good luck rock. Lets talk about your kids, actually. What about the reality show . Were they positively affected, negatively affected, not affected . Hulk you know, i think it took them out of the rhythm of that normal friendship with their friends, the camaraderie and going to school and being on a schedule. Home schooling and you gotta film every day and you gotta have a mic on you at 8 00 in the morning and it doesnt come off till midnight sometimes. I think it was too fast, too much. Its probably a little bit our fault because theyve been getting away with murder and weve just been letting it go. A lot of this is our fault. I want to get into a tough subject, the car accident. Police investigating a horrific car accident in clearwater, florida involving pro wrestler hulk hogans son. 17yearold nick hogan released from the hospital today after the car he was driving hit a raised median, flipped around, smashed into a palm tree. Police say hogan was driving at a high rate of speed before the crash and both he and a passenger had to be airlifted to a nearby hospital. The passenger in the car was john graziano, former marine, who, to this day, is in a vegetative state after the car crashed. Do you, at all, partly blame yourself . There was a time when i did, you know . Ive learned to forgive myself, nick, everybody, part of the race team, everybody that lived in my house, everybody that was there and wasnt there. Everybody that pointed the finger and blamed, you know. It was a very tough situation, all the specifics, the no seat belt, the rain, all of it added up to just a very bad, tragic situation. You know, i just had to forgive everybody, even myself. John grazianos dad did not. August 26, 2007. Everything changed because of the senseless, reckless acts of nick bollea. What alqaeda could not do to my son, nick bollea did in a matter of minutes. I can only imagine the things john could have accomplished with the rest of his life. Thank you. Harvey it doesnt sound like he forgave. Hulk well, like i said, ive forgiven everybody, you know, even mr. Graziano. One of the reasons john was living with me was because there were several attempts, physically, to hurt him on his life when he was at home. So. I understand, you know, the venom and the negativity and i just had to you know, release it, and just forgive everyone. Harvey nick was in jail for this. Hulk no one has ever been put in an adult prison, or even gone to jail for the situation nick was in. Reckless driving with serious bodily harm, everybody in florida gets probation except for nick. You think it was because of your celebrity . Hulk i dont know what i have my opinions, but i dont know the answer. Harvey would i be wrong if i said that that spotlight got put on him cause of you . Yes, you would be spoton right. Not wrong, youd be right. I do want to talk about the jailhouse tapes. You guys had talked about doing another reality show, making some money off of that. The point of it was, if you were in my shoes, and your 16yearold son went to jail and they put him in an adult prison. They put you in the shu, which is a very small, small cell, when youre by yourself, isolated, and when you get a panicked phone call from your son, oh, my gosh, dad, i cant see out, i cant i dont know where im at, duh duh duh duh duh, and you get calls from duane the dog chapman. That youve gotta get him out of there. After four or five days hell start chewing on his own tongue. Sometimes, you know, theyll eat worse things, you know, their own feces if they dont get out of there. And what i did on the phone was read to him, you know, the secret, the power of now, Eckhart Tolle stuff, or the bible to him. I did everything i could including talking about a reality show and well get back in front of the camera and well turn this into a positive. I did everything i could to keep my son from mentally defecting and losing him mentally. Hows he doing now . Hes doing great. Hes on track. He got a degree in mixing and mastering, so he does a lot of deejaying stuff, and hes selling different car parts and you know, he sells used cars and stuff. Harvey what about brooke . She went to nashville, she wrote songs. She works it, doesnt she . Hulk yeah, brookes been beating it up. Im telling you, shes been on the path for quite a long time. Four years in nashville as a songwriter. Now shes back in la still doing music and doing the entertainment stuff. She hosted a new show called fashion hero that got picked up overseas in a lot of different countries. Shes out beating those streets, trying to find the bridge. Whats your wish for your kids . Hulk greatness, happiness, consciousness. More than anything, just being aware that life is good, that people are good. Just always be happy and positive, you know. You said something a couple of years ago and made me wonder maybe the next thing could be politics. You said, im ready to be trumps running mate. You know, maniacs, in seven days and seven nights god created the heavens and the earth. And on the eighth day he created a set of 24 pythons. And then, on the ninth day, i created hogans beach shop, brother. cheers, applause this is the ribbon from the grand opening. When we opened hogans beach shop orlando, we had a crazy crowd out front, with tons of hulkamaniacs, red and yellow, you could see it for miles. And this was the ribbon that we cut for the grand opening. Did you ever wonder, especially around the time you stepped away from wrestling, is that gonna continue, cause there are a lot of people that get forgotten when they retire. I was wondering. You know, i was wondering, but, you know, ive been around so long, and the public knows me so well, i kind of, like, etched my way in, you know. Some people sometimes call me the babe ruth of wrestling. So its really cool to have people say those things about you, you know. You miss wrestling . Tremendously. How so . What do you miss about it . Oh, my gosh. Um. Anybody thats ever had a good workout you know, once you get done working out, youve had that good sweat. Oh, my gosh, it makes my day. Sometimes when you wake up in the morning you dont feel good. Oh, i dont feel like working out. But after you train, you go, yeah, all right, im ready. Its that times ten. Do you enjoy it more now when people come up and they cause i saw this outside your shop, where you walked in and everybody kind of swarmed. Whatcha gonna do when hogans beach shop runs wild on you . all yelling harvey is that kind of that thrill, they havent forgotten me, and it may not be 20, 000 people. But sometimes 15 can do the trick. Hulk yeah, it really is just like its an affirmation. It makes me feel that everything i did actually meant something to all the fans. You said something a couple of years ago and made me wonder maybe the next thing could be politics. You said, im ready to be trumps running mate. First of all, whyd you say it . Well, because i was probably crazy at the time. It wasnt about how good you were for the job, it was almost like how popular you were. And i thought i had a legitimate chance, back in the day, you know, of running. But when you said that about trump. Like i said, i was out of my mind. Would you ever think about running in clearwater or in orlando or somewhere around here . Youre extremely popular, wellknown. Interesting to you . Well, ive thought about it, you know, about clearwater, mayor of clearwater, governor of florida, you know. Ive thought about it, but its just been a thought. Your life, your career, has kind of been defined by huge, incredible highs, and a lot of lows. Why did people stick with you through the highs, the lows, through all these decades . Because everybody has scars on em, you know. A kid, young boy or young girl, high school, college kid, older adult, came from a family that was divorced, scar. Parents were alcoholics, scar. Boyfriend broke up with me, scar. Dui, scar. Someone bullied you, scar. There are so many people out there just like me that have scars. Things you said that you shouldnt. Right, exactly. Scar. They look at me i didnt call myself a hero. I didnt call myself a role model. My fans did. And i think im tangible, they relate to me because ive got so many scars on me, you know, and im still standing. Like stallone said, its not about how hard you get hit. Its about getting hit, getting back up and moving forward. Whats the one thing you want to do before you kind of go into the sunset . The one thing i want to do before i go into the sunset. Wow. laughs im tapping out. Cut. Thats a good one. I made hulk hogan tap out. You got me. Thats the end. Thank you. You got me. I love that. Thank you so much. Life is so good, brother. I couldnt even answer that question, life is so good. Harvey levin the objects People Choose to keep in their home define who they are. This is. Wait, wait, wait, you made these in prison . I did. Im harvey levin. This is a story about a woman who turned her back on a lucrative career on wall street to become the perfect homemaker. This 19thcentury tailors table will be absolutely perfect for the adult. Harvey but Martha Stewarts life wasnt all perfection. I did not want to get divorced. I think he had a wandering eye. And wandering whatever. laughs harvey she was a billionaire. Unstoppable until a tiny stock deal landed her in prison. James comey was the prosecutor. Yeah, dear james