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Media, National Security and intelligence. This is an hour and a half. Without objection the chair may declare recess at any time. Before i begin, i want to go through the usual housekeeping matters. First, todays session will be conducted entirely on an unclassified basis. All participants should refrain from discussing any classified information. The committee is conducting the virtual hearing in compliance with House Resolution 965 and regulations for the committee proceedings. Its being broadcast live on the committees website. Because the threat posed by the pandemic is ongoing we will do this remotely to ensure the safety of the witnesses, members, staff and public. While we wish we could return to all standard inperson events, health and safety particles dictate we find alternate means of carrying out our obligations. Okay. So, let me remind members of a few remot ....
Reaction when she opened her Home Insurance bill. I was dumbfounded because it went our our premium, our annual premium. Absolutely doubled. Her premium jumped from 9,000 per year to 18,000. The insurance is for the familys second home in amador county. It comes at a time when Insurance Companies have been canceling policies and hiking rates, largely citing fire concerns. But pamela says that home isnt even in a high fire zone, so shes confused by the huge increase the family called farmers and we said, whats the justification for this rate increase . And they said it was due to california and california inflation, and thats the only justification that they could give us. We reached out to Farmers Insurance for comment, but have not heard back. Well, doubled is a lot. Its outrageous. Robert wood is an economics p ....
Anna welcome to countdown. Im anna edwards. Ryan im ryan chilcote. Anna at 6 00 lets have a look at the tech sector. Lets start with apple, because i have a chart here that shows the afterhours move we saw this was even after the Company Reported a record thirdquarter profit number. Revenues were disappointing. Ryan this threatens to remove again that apple saw that huge rally of almost 10 . It could be one of the biggest losses ever. Anna more generally, this was the biggest tech rally since october. Will that change in the session today . We have lots to talk about. Apple was just one of a few tech giants that reported in yesterdays session. That came afterhours. Lets get Caroline Hyde and paul sweeney. Great pleasure to have you. Lets continue the conversation with apple and what it is. Caroline its phenomenal when you put it in perspective we could see 66 billion dollars ....
That is Something Congress is trying to work on once more. Well come back to that a little later in the discussion. Same question, dave over to you. I think there is a real opportunity for us to be able to accelerate. The challenges we need to be more deliberate around the way that we are experimenting with this technology. The dialogues ive been having with some leadership is a renewed enthusiasm around taking emerging technology and the war fighters getting together we were trying to figure out what is the potential of the technology but in many ways, like my house, i cant anticipate how they are going to use it. They have far better ways to see it then we do. Its the sitter of brain storming process that allow you to adapt the procedures that you are going to use to employ the capability and feed that back into the acquisition process. Then you can tighten up the cycle time. Its its a co evolution of the solution. To have a ....
Conversation they have the best death in a row. But at the same time to bureaucratize that we dont innovate very well weaken the eve of the glass is half full or halfempty. I would counsel congress to be optimist that is a way of life i ascribe to you cannot have everything all the time and think everything will be well all the time that could be realistic about the potential. We really do have the taxpayer in mind that seems to be a struggle with the current leadership on the hill and their understanding of the Industrial Base teaches secretary mcnamara recognize the need somebody needed to look to those logistics from 50 years ago to see that in a different light in since we have continued to see that as a way to support the mission constantly. That drives the potential solutions with the revolutionary opportunity and trusting in the entrepreneurial spirit is going to be 0k if you learn from those mistakes with the investment o ....