The Role Nurses Play in Responding to COVID-19

Week on iTunes, SoundCloud, ol Bloomberg dot com. You can also listen to our radio show at two pm Eastern on Bloomberg Radio every weekday, or watch us on YouTube by searching Bloomberg Global News. Looking forward to our next guest who has our website points out has served as senior consultant to the U. S. Government and then includes Departments of Health and Human Services, Homeland Security, Veterans Affairs, the Administration for Children and Families, and most recently FEMA,

the Federal Emergency Management Agency. Dr tenort Mima is Professor of Nursing at Johns Hopkins University of Bloomberg School of Public Health. The Bloomberg School of Public Health supported by my Lar Bloomberg founder of course at Bloomberg LP and Bloomberg Philanthropies, and Dr Venoma joins us on the phone from Sara Sota, Florida. Dr Venom, nice to have you here on Bloomberg Radio. UM tell us a little bit

about your world right now. I mean, I really feel like it's an interesting time where we're seeing more of the world reopening, we're seeing more virus cases. UM tell us, how you see it at this point? Well, thank you so much. It's an honor and a privilege to join you this afternoon and to have the opportunity to comment on the ongoing COVID nineteen pandemic and just the incredible burden and challenges that the pandemic has created for healthcare

systems and for the people who work within them. And of course our report really focused on the challenges that the nursing workforce faced and continue to face in light of what we're sort of considering a smoldering pandemic that we're actually seeing increases in certain states. So we have really learned some early lessons from all of this, and certainly from uh the the devastating impact that the pandemic had in the Greater New York and New Jersey metro areas.

The surge and demand for healthcare for those UH increased numbers of COVID positive patients just required that nurses UH be able to work UM have had very limited access to the appropriate levels of personal protective equipment that they needed. Many nurses have actually not received the training that one needs to understand how to safely don and doff that

personal protective equipment. And then, of course, because of the large number of patients surging as we refer to it, within the healthcare system, we were forced to redesign workflow and change staffing pattern and reassigned nurses to COVID positive patient units where some of those nurses had never worked with critically care patients before. So we saw a multitude of challenges. We saw amazing resilience within the nursing workforce in terms of being able to respond to those challenges.

But that led my colleagues and I to co author the report that really tried to look at what the issues were, so how do we fix it, because that seems like you know, medical care one oh one right to make sure that people first of all, of course have the equipment. And we saw the problems with that, you know revealed um as the case is spiked in the country and certainly in places like New York City.

But how do you make sure that nurses and everyone certainly within the health care community has the necessary equipment? And I think training like that just seems to me like you've got to make sure everybody knows how to use it. Absolutely, you raised some excellent questions, and I think my answer is that there's a myriad of factors

that really come into play here. Uh. It certainly starts fundamentally in in colleges and universities and schools of nursing in terms of ensuring that pandemic preparedness and public health emergency preparedness and response content is included in nurse and curriculum, which very often it is not. And then so not only do we really need to make sure that our our student nurses and our graduate student nurses get this

education in training, but they are competent. They we are testing their competencies in terms of their skills and abilities to participate in pandemic response. We're looking down the road at the implementation of a national vaccine campaign where we have you know, over three hundred and fifty million Americans that will require a vaccine hopefully once it's developed and manufactured and we're ready to distribute it, and certainly that will be a very nursing intensive public health event. So

looking at education and preparingness is the right thing. The other thing is the support of nurses in hospitals and in healthcare setting in MS, so you know that ongoing

support from hospital administration and participating in disaster drill. Forgive me, and I want to interrupt only because we only have about a couple of minutes left here, but I do wonder because you have worked with so many different departments within the government, whether it's FEMA, whether it's Health and Human Services, Homeland Security, the v a UM in terms of the government the federal government response, what needs to be done differently next time around? And I will say

about the testing and tracing. We keep hearing that we almost need a military like effort um to make sure that we can kind of get out of this and that we're kind of we're missing an opportunity. So I'm just curious how you see that. Absolutely well, obviously the Department of Health and Human Services and in particular the Centers for Disease Control and Prevention and then ask for

the assistance Secretary Office of Preparedness and Response. Those are the federal agencies that in our report we strongly encourage them to take time to look at detailed pandemic and other disaster and public health emergency response plans and look at the assumptions where having a prepared, competent nursing workforce is going to be critical for them to execute those plans. And so I do believe that the federal government needs to take some steps to ensure that we're better prepared

next time. Well, we certainly certainly hope that we've all learned you know, very obviously harsh lesson unfortunately, but we do hope we've learned a lesson so that we cannot do um and and meet this kind of a stress or you know, tragedy in the future in a in a much better way. Dr Tenor Venoma she is Professor Nursing at Johns Hopkins University Bloomberg School of Public Health. As we mentioned, of course, supported by Michael R. Bloomberg,

founder of Bloomberg LP and Bloomberg Radio. On the phone from Sarasota, Florida, This is Bloomberg Business Week with Carol Masser and Jason Kelly on Bloomberg Radio. Great cover story this week. You and I have been talking about it a lot um in the last day or so. It is the remarks in the magazine. It's very timely. It's a necessary conversation in light of the protests that have

erupted over racism in America. And Jason, as we know, it delves into the gaps between blacks and whites set exist on many levels, and it asks a really important question whether it is time maybe for quotas. Yeah, and it is a powerful story, a provocative story. We expect no less from Rebecca Greenfield. She runs all of our diversity sustainability coverage here at Bloomberg, focusing on the managing

Diversity team, which is just doing some terrific work. She's with us on the phone as a Stue Webber, both in Brooklyn. Joll set this up for us. Why the cover. I think it's probably the most important story in corporate

America right now. Um, And it was one of these ones that Rebecca filed the draft and we thought it was really good and we started talking to the art department about how do we art the story, and the art department came back with basically the most arresting art asset that that um that I I saw all week I think, which was five hundred headshots of Fortune five companies.

And it reveals that there are four black CEOs in the country right now and in in leading uh fortuneies, And that just alone is just shocking when you see it, um laid out like we did on the cover. And um, Rebecca's story is ultimately about quotas, which you know are practically illegal. And yet when you see this gigantic problem and it's you know, we put that problem on the cover of the magazine, UM, it makes you wonder if

there shouldn't be a more radical approach for a solution. UM. So, so, Becca, can you kind of walk us through, um, what quotas might solve in the problems that are associated with them. Yeah, so, I think you mentioned the main problem, which is how few black leaders there are. And this is not because they have There haven't been a lot of efforts to

change the makeup of companies. There have been billions of dollars that in decades of trying and of companies saying it's in their best interest to do this, and most companies one person I quote said so, but it's so well said. They look like Plantations. Organizational chart looks like Plantations, and black folks are at the boss that was a close to them. I gave me. And that's the reality and it's and it hasn't changed. So what's what when

what's their own devices? Companies aren't really able to move the needle, and it's it's because it's a very complicated and difficult problem to solve. So, like to mention, I was wondering if we need something more aggressive or more coercive. And quotas are very controversial, but they have been proven to work in that capacity, which is to get more representation. They don't fix everything, they don't fix racism, but they do move the needle more than what company they're doing.

And we know, Rebecca, it has helped move the needle with women. Correct. Yeah, So there is this law that was passed in California UM a couple of years ago that where they required boards there too have at least one female director UM by last year and then they're upping that UM depending on the size of the board. So there were there's a quota. They've been sued because, like Jile mentioned, quotas, some are in a legal gray area.

But it has touched all of these boards of PELO companies in California to add women, UM, and they were worried that they wouldn't be able to find qualified candidates. But at the end of the day they did to comply because if they didn't comply, they had to pay a hundred thousand dollar fine. Not everyone, there was a huge I think the California one is a really interesting UM example of how it might actually feel that there's

a way to make this work. But obviously there's going to be these legal challenges and what would have been the basis of the legal challenges so far in California. Yeah, so quotas. I think the Supreme Court has been weighing in an affirmative action. That's all comes back todaya of affirmative action UM. And when the Supreme Court weighed in has weighed in, they the Court has tended to not

like quotas. I think the Court thinks they go too far, but has said that organizations can use affirmative action too for their their interests. That's where we get this big pusher diversity. UM. So the legal challenges in California are based in that spirit that quotas are a form of discrimination, UM and that it's unconstitutional. But neither of those challenges have been successful so far. And in the meantime, the

boards are adding more women. And they don't think if the laws, you know, knocked down, if they're going to just fire these women from these boards. UM, I think they're going to stick with it. Okay. I also want to ask, because California isn't, um, the only place in the world that is experimented with this. You also kind of scratch some international UM seems what what what about

outside of the US. How are other countries looking at this? Yeah, so you know laws are different places to the Norway. They also have a public company, um law And says I, forty person on the boards teach for women, which is high, and they are women who hold a little bit over forty percent of those positions. But I think it shows the drawback of quotas or how quotas are limited. Really they do what they're so to do they get companies to our boards or whoever, to add more of whatever

demographic you want. Even with all those women empowered hasn't changed the overall makeup of the executive power of the companies where there aren't quotas. So I think that kind of shows their quotas are very powerful what they do, and you need them. But also you can't just use them in one place and expect you know, the rest

of corporate America to PA Online or or Norway or wherever. Well, and it's interesting, you know, Becky, you you also bring up the idea that even talking about them maybe spur action. I mean, is that a reasonable argument? I mean, what do you think of that that? Well, I would say that so far, a lot of the feedback I think, yeah, gets a lot of people at set because they don't like them. I can tell you that from my Twitter mentions,

you're going to turn for the worst today. Um. But I think my my motivation or making this argument and writing this, and I think about this for a long time, is that we do need something more radical if there's going to be real change, because there is a lot of you know, millionaise or what I mean, very well meaning acting in the area and it doesn't doesn't do

anything right. Um. I think it's also rethinking of what the front of action or quotas are for I think some people I talked is that we need to really think it as this way of counteracting well, not as like this representation challenge. Right, And as you said, a lot of well meaning and there's a lot of committees and conversations, but we've been talking for a long time, and so maybe we need to rethink the process and maybe we need something that's a little bit more aggressive.

I gotta just say it, the cover man, what's wrong with this picture? It just hits you really, you know quickly. Yeah, the picture and the words together are really just remarkable. Thank you so much. Rebecca Greenfield leading all of our diversity coverage managing diversity team here at Bloomberg. She joined us, as did Joel Webber, the editor of the magazine. You're listening to Bloomberg Business Week with Carol Masser and Jason

Kelly on Bloomberg Radio. All right, let's talk a little Business Week economics now, because it's Thursday, and now we have gotten unfortunately all too used to, are all too accustomed to, maybe I should say, uh, seeing jaw dropping numbers every single Thursday when it comes to jobless claims. Today was no exception, Let's understand that in the broader context of the economy what the Fed has been saying, and much more. With Milton as Roddy, he is the

chief economist for Vested. Johnius on the phone from Glenn Mills, Pennsylvania. Milton, really, nice to have you here with Carolin myself. Pleasure to be on. So let's start with the news of the day, which is those jobless claims, surprising too many that it remains at that high level. What did you read into it,

especially as you got into the details. Yeah, well, mostly what I got out of the numbers were that some of the optimism that was implicit in the jobs report earlier this month in the retail sales overstated the rebounding the economy. There are still a lot of people losing their job. One and a half million applied to unemployment insurance. That says to me that J. Powell, when he testified and said this is going to be a little longer,

a little odder than you think, was correct. Well, you know, Milton, one of the things I was excited about having you on is that you have been in the world of finance and economics for I don't know forty years You've seen a lot of cycles, um, and a lot of different crises. So this is safe to say unlike any other, right, because there's a logical part of us that understands what the economy shutting down, the impact is going to have on activity, on the labor market and so on. UM.

I'm just curious how you see it though. Coming up on the other side, I think there was hopeful expectations it was v and we bounce back real quickly. But it's not that easy. Especially we have so many guests that come on and say, listen, we're still in a health crisis and we still have a lot of problems. Well, there's the uncertainty about what's going to happen with the virus, and I'm not equipped to do that, uh, to talk

about how the virus will go. But I think the issue here, and it's one thing that Powell tried to explain to his testimony before Congress and his press conference after the f O m C meetings, is that there was a lot of damage done. It was fong to say we're gonna shut down, and everyone gets pent up demand, everyone wants to get out. But a lot of businesses closed, a lot of people will laid off. Yes, these people will be called back, those people who have the capital,

all the loans to bridge the gap. But there has been a real rise in bankruptcies. Those firms are never coming back, and I think that that is going to make this a lot longer. So we may see a bounce here, uh the v that everyone's talking about, But then we're going to deal with the leg can see these bankruptcies, the legacy of downsizing that did occur, more permanent downsizing, the just bridging the lockdowns, and it'll the economy will slow after a happy looking the Yeah, it's

interesting you say that. And I was telling Carol a little bit about a conversation I had just while I was late to the show is catching up with Henry Kravis over at KKR, and he was talking about the CEO is that he's talking to to a person are basically saying, my workforce is going to be smaller on the other side of this, And even if it's not every CEO, if it's a lot of CEOs who are saying that, that has a profound effect on the labor

force going forward and ultimately the broader economy. It does. And we had wonderful employment numbers before the shutdowns and the lockdowns. I'm not saying we should have avoided them. That's a separate issue, but we're not getting back to that for a long time. And I rest the bankruptcies because the people who suffered most. J. Pale made a point of this to the people who suffered most in in this these lockdowns, were they undercapitalized small businesses, particularly

in the less advantaged sectors of this economy. And they're gone, they're they've gone bankrupt. They if they're never coming back. So what does it look like then on the other side, Um, we've had you know, various economists and even our Bloomberg Economics team Milton come on and talk to us and say, you know, it's going to be several years before we get back to where we were pre COVID nineteen. Well, I think it will be a long time, and I

think several years is probably a good estimate. What I think is going to be deceptive here is that we're going to have this bounce. There's a lot of people who spent less money and who have incomes because they could work from home or they were essential workers and did not have an opportunity to spend money, so you'll have this bouncing the economy. They want to get out, They want to have a restaurant meal, they want to

see people in the bar. They want to buy clothes other than the pajamas they water a month and a half. They are just for the record, Jason and I have been dressed every day doing our show in real clothes, not in our pajamas, I will think, partially because we have to look at each other on video conference because who's to say what would happen if there were no Ever, however, our morning planning call, yeah, exactly, and some of the zoom calls I've done, I've decided on the last clean

shaven man in America. I think that's right. I think you're I think you're right about that. But it's but it's it's going to be different, and it's gonna be really tough, and it's going to be lasting for for many individuals and many small businesses, as you said it is. And I think the minority groups in this country, not because of racism, just because of the undercapitalization in those sectors of the economy are going to take the longest

time coming back. We had best figures for Hispanic workers, best figures for Black workers. Full of the shutdowns, it'll be a long hole for and it will be a long hole for everybody. We will have this bounce because people do want to get out, but that will fade by the fourth quarter, right, because when we have a really tight labor market, that's when the fringes of the labor force rights really start to benefit. And they did.

We had a very tight labor market and they were benefiting, but now it's going to be a long road back, especially to them. Well, and as as you're alluding to, Milton, I think you know there are some structural issues. We talked about them with the CEO of Lendustry yesterday that relate to a lot of minority on businesses where if they are they may not even be able to survive to the other side. And there are a lot of applications for that as well, Milton. As Roddie, thank you

so much. Really nice to catch up. The chief economists for Vested joining us on the phone from Pennsylvania. Carol, do you think Ari and Paul have like peee pajamas. I don't think so. Ari's in the office. Oh that's right, So he's been dressed when he's doing that morning call Paul. Paul, Yeah, Paul, maybe could be bunny slippers, little bunny slippers. Yeah, thank you are sorry, just confirmed that he isn't. He is dressed in our control room. So no, I think there's

an n C. No comment from Paul. Paul Brandon's in shorts. Oh that checks out. That checks out. This is Bloomberg Business Week with Carol Masser and Jason Kelly on Bloomberg Radio. I like the understated headlines sometimes that Bloomberg Intelligence have. Carnival's second quarter results show recovery risks amid cost cuts. That is true. Uh, this is a story that we've been following very closely. Business Week has been following you

very closely. Brian Egger, senior Gaming and lodging analysts for Bloomberg Intelligence. He joins us on the phone from New Jersey. Brian, you know, I'm just teasing. I love your research of so don't where'd you like? Wait? What? Oh my god? What's going on? I mean, this isn't. This is a remarkable story in many cases, but by a numbers help us understand what's going on at Carnival. Sure, so Carnival basically, as did other cruise operators, suspended sailing operations on their

fleetback in mid mid March. They've been basically in a no revenue scenario for quite some time. They expect to begin to resume some cruises beginning in August after the CDC Morning against taking a cruise expires, But nevertheless, it's going to obviously be a very steep uphill climb as they resume operations with a lot of distancing in place. They have enough money in place. I know they've tapped the markets, but do they have enough money in place

to kind of ride out the storm. So they've got about seven and a half billion dollars in liquidity, and by our estimate, that allows them to basically continue maintain their cash burn rate for at least eight to ten months or so. So we do reach a point beyond the end of this year where it becomes very worrisome if they don't resume operations at some level, and they do plan to, the question is how quickly can may

reintroduce ships and what will the uptake be from customers? Brian, I mean, what's your overall read You and the team that overall read on this industry because I feel like for some of us, at least, looking at it more as consumers as anything, you think, Okay, no way, I'm not getting back kind of ship. There are other people who are very excited about getting back on a ship. We know that by the numbers. Charlie Pellett is one

of them, our colleague, voice of the New York City Subway. Uh, how do you help us understand kind of what the actual demand is and what the way forward is? Sure? So one way to look at this is that for one about one third of the bookings or you know, on the book sailings actually come from individuals that were on canceled cruises this year and are basically you're going

to redeem them next year as future cruise credits. So you know, you have ships getting to book last next for next year, obviously at a much slower pace and with pricing down, but part of the imagery of cruise ships next year is going to be booked about a third vice so far by people that actually had their cruise canceled, They were forced to cancel this year and decided, rather than taking a cash refund, try to book again next year, hoping things will be better obviously, But that's interesting.

You know, if they were given the option of cashing out, I think I would have just taken the cash and run. But I mean it's interesting that they're like, no, no, no, I want to do it. And you know, I've done some deep dives into Carnival and have spent some time, you know, doing stories and on the ship and the people that are on there, Like I remember talking to folks in the elevators. These are people who go on you know, five, six, seven, eight Carnival cruises. I mean,

this is what they do over and over again. So they're really a committed And I know Carnival has many brands and they hit different kind of economic sectors, but these are people who really loved to cruise and cruise Carnival. Yeah, it's interesting. About half of the individuals that have their cruises canceled for this year chose to get a full cash refund and the other half chose to use this the voucher basically for a future credit towards a free

cruise for a future period. So it is about split between people that just basically want the cash back or people that say, you know, i'll basically take a refund or something like that off of what I initially booked and redeem it next year. Yeah, I mean it. It's such a fascinating set of dynamics. I mean, this is coming at a time and you know that's better than we do, Brian, that you know, the entire travel and

lodging industry is under a sort of existential threat. You know, we talked with the CEO of Hilton, and subsequent to us talking to him, you know, they cut their corporate workforce. You know, we talked to CEOs all the time who basically say, yeah, I'm talking to my colleagues, and you know, from a business travel perspective, it's gonna be way down. I mean, this is a reckoning that's going to last for a long time. It feels like I think so.

And it's fair to say that the company has realized this. I mean, Carnival, like other companies, has suspended its share by backs and dividends. It plans to sell six of its four ships to get rid of some of that capacity, and they do expect, working to their favor, that some of the expected ship deliveries will be getting this year will be the way until next year. So in some ways that kind of helps not have too much supply at a time when they really don't need it. Obviously. Yeah,

it's really amazing. I do wonder though, the hit that they're taking this year does it How many years does it take for them to kind of get back to where they were previus previrus. Do you have any thoughts on that. I think the curizing experience when people do go back, as is true for also the castinos which I follow, it's going to be it's gonna characterized by social distancing, by by much lower capacity, utilization and bookings levels,

and it's going to take quite some time. I mean, pricing will be lower often, ces will be lower by design, and I think it will probably take a good period of time to get back to anything resem only what we saw before the pandemic. I just feel like big cruise ships, that's the antithesis social distancing. Seriously, especially as we come to learn more and more about this guy's Brian Egra, thank you so much, senior gaming and lodging analysts.

He's got a lot on his plate these days trying to figure out what happens next with some of these big lodging and gaming names, including Carnival, which delivered quite a loss. He is with Bloomberg Intelligence. Of course, Johnny is on the phone from New Jersey Journal. Now, but you let me drive? Oh no, no, no no, no, honey, please, I'll do the riding drivel. I want to drive, Just drive, baby, good questions and trying. This is the drive to the globe to give me a thing radio, Yes, indeed, it

is time for the drive to the close. Back with us someone We've talked to a bunch. I'm glad we've got a back. Ross Gerber, he's president and chief executive officer of Grower cow Saki Wealth and Investment Management. He joins us once again on the phone from Santa Montica, California. Got about a billion dollars in assets under management. Ross, how are you. I'm good? How are you? I'm doing okay.

You know it's week fourteen, Yeah, exactly, exactly, and just trying to make sense of the last you know, fourteen weeks and really the last three weeks. We've had a lot of discussions about diversity and racism, you know, through institutions, whether it's the financial sector, in other industries. I know you've been thinking about that too. Oh, yeah, I mean, you know, just just to start, we're real proud of the fact we just won another award for diversity and

inclusion for my firm from Wealth Management dot Com. We also want it from Investment News. So we're considered one of the most diverse firms in the entire industry. And I still think as a firm, we have a lot more diversity to go, you know, And we don't specifically obviously hire for diversity. We just try to reflect the community we're in here in in southern California, which is very,

very diverse. So you know, that's the way we look at the world is we try to hire the best qualified people, but we want to represent the communities that we're seeing too, and there was those are diverse communities. But do you think about it, right, it's an effort. I think about it a lot because we are constantly hiring and I've been dealing with this my entire career.

So I've been hiring and training advisors for twenties six years now, and we've constantly struggled with this issue of getting certain groups of people and and including African Americans through our system. And I really think that there are three main things are industry needs to change, and it starts with FINRA, the regulatory body and the rules to getting license as a financial advisor. So we're, you know, what we want to do is call on FINRA to

take a good look at the way licensing works. For example, the first thing is standardized testing. Standardized testings used throughout our system in college and also in the securities industry, and it's been proven to be a have no correlation to actual performance of people, and be it clearly favors

certain groups of people over others. We need to change the way with that, we're testing people into a much more you know, reasonable format that's fairer, that it is more inclusive, and and that's kind of how they do continuing education with like videos and other things that are not just filling in the little dots and getting the questions right. So testing is one area. The second area

is credit, and the third is criminal. So these are the three things that constantly have a lot of people who would otherwise be qualified financial advisors not get through the registration and licensing system because the testing, the credit checks, and the criminal checks are inherently biased against certain groups of people, including African Americans. And and so we really

love to see that change. And so how does it play through ross to what you do or don't invest in Well, as far as making investment choices, you know, we run sort of our own version of E. S G. Three companies that we own because we really consider that we own these companies like we're the owner, and so I don't want to be associated, for example, with Taco Bell today. You know, my god. You know. Granted, we're like Starbucks shareholders and we had that issue a few

months back and they and they handled it. I thought, pretty well, it's very hard to maintain seventeen thousand stores and have everything go right. Also is the Philadelphia incident where they guys arrested, but they're very very you know, progressive at Starbucks, and I thought they dealt with it fine.

But you know, if I'm dealing with a company. And a perfect example is we sold all of our Facebook position because of morals, not because of the performance of the company, but we feel that they support negative causes and and create a lot of problems in the world and we just didn't want to be a part of it as owners. So so it is something we think about as far as the way companies are inclusive or not. Um,

we run that through a screen. But our basic investment process is still focused around obviously finding the best investments

in the I mean, it's interesting. We we had a conversation with John Rodgers over at Aerial last week and he was talking about the role of institutional money in all this and that you know, absolutely companies and private equity investors, hedge fund investors, they are really only going to change their behavior in a meaningful way if they feel pressure from their own investors, whether that special yeah, yeah, totally. And and this is another crime of the index fund generation.

You know, Vanguard doesn't have morals. They don't care if you discriminated or not. Now they are going to be upset that I said that. Then why don't you vote for something, Vanguard? Why don't you vote against management that that has non inclusive policies or discriminatory policies. Vanguard won't vote against a board to save their life. Now, I'm proud to say we do a lot of investing with black Rock, and Larry Fink has said, We're not going

to just sit on the sidelines anymore. We own five percent of every company in America and they're not inclusive. So I shout out to black Rock, and you know, we specifically don't use Vanguard on purpose because of this stance that they've taken. But have they dismantled a lot of their index funds? Black Rock not dismantled. But I think what it is is using their positions to pressure companies to make better decisions. You know, if I own five percent of your company, you gotta listen to me,

you know. And so if you feel like it's work though, Ross, I think it's just starting. Look, let's be real. Corporate America and the way things are has been this way for a long long time, Okay, in in my industry too, Okay, So trying to change these companies is super hard. That's why new companies like mine are formed and grow and succeed is because we are part of the future versus the past. They're still living in mad you know what

a Madman or whatever that show is with sexism. I mean, this year has been phenomenal for our country in the sense of pushing forward things that matter. First, we had me to completely change Hollywood, okay completely for the better, and we have the best content we've ever seen coming out of Hollywood clearly, and we have more equality for women in now We've got to do it with African

Americans in this country. Okay, And maybe this time, Maybe this time, because I lived through Rodney King and nothing happened, nothing changed, the same crap, Right, We lived through this, So maybe this time because these kids have had enough kids, you know, I've had enough that they'll get off their Facebook and Instagram and get into the streets. And I couldn't be more proud of them, couldn't be more proud of the young people today. Yeah. Well, it's great to

catch up with you. Always love your passion and your perspective. Roscer. We're president CEO of Gerber Kawasaki Wealth and Investment Management, Native Angelino. Uh and I think that's a really good perspective. Uh yeah, understanding that maybe from a different perspective than

we see in New York and other parts of the country. Uh. Important, important, And he is right if you think about all the different things that have happened, whether it's me too, whether it's you know, the rights that we've recently seen and we talked changed, you and I talked negatively at times about social media. Social media is a huge accelerant around this season. Nist, citizen journalists putting it down and getting into the street. But the fact that everybody saw that

video makes a huge difference. Jurist, It's a big deal. Thanks so much for listening to Bloomberg Business Week. Download the podcast on iTunes, Southcloud, Bloomberg dot com, but wherever you get your podcasts, And of course you can always listen to our radio show at two pm Eastern on Bloomberg Radio, or watch us on YouTube by searching Bloomberg Global News