Why the J&J Covid Vaccine Could Protect Millions

You can also listen to our radio show at two pm Eastern Time on Bloomberg Radio or watch us on YouTube search Bloomberg Global News. The US count them one to three. We've got three vaccines to Tim to fight COVID night. Three vaccines in under a year, just about a year. I think it's fair to say it's phenomenal. It's it is phenomenal. Nobody doubts that in terms of development. The problem is, though, I think there is some nervousness

about this. J and J. Actually we talked about it with the CEO of North Will Health yesterday because there are concerns the lower efficacy rate. People can be like, I don't want that one. Yeah, I mean, look, people focusing on instead of But all the health x tell us that's not the right thing to focus on exactly. So let's get into this story, a great one by Bloomberg News healthcare reporter Angelica Levito on the phone in our New York City bureau. Um, Angelica, good to have

you here with us. Listen. It's great to have another vaccine, but it's only great if people take it exactly. And you brought up some excellent points that we might see some hesitation. There are great benefits with this J and J vaccine. It's refrigerated, so that means that we can get it into rural areas, places that don't have access to these ultracold freezers that you need for Fightser's vaccine.

It's also one shot, which is great. You know, you don't have to come back in for a second dose, so you're just in and out and you're done with your vaccination. However, we might see some people worried about this seventy two percent efficacy in the US trials versus that for Fightser for maderna. However, all the health experts, like you said, Um, they say that you can't compare these trials apples to apples because they were conducted at

different times. Of course, J and Jay's shot had to contend globally with the variants we're seeing in South Africa, UM, Brazil and also jans zackis J and Jay's vaccine a little bit of an up right because it was playing with some of the variants. Correct, it does, and that's something that we have evidence of that it can work

against these variants. And also it's worth noting that the J and J vaccine did provide complete protection against all COVID related hospitalization and death, which is what we're trying to solve for. So let's think back to just a couple of months ago when we're having the same conversation, not necessarily about efficacy, but about hesitation when it came

to MODERNA and Fiser. What we saw then was Vice President Pence at the time getting his shot on TV, Anthony Fauci, nation's top infectious disease doctor, getting the shot on TV. The problem is all these people have had their shots already, so it's not like they can go and get the J and J shot. What I feel like, Angelica, what we need here is like this big pr campaign coming from leaders saying Hey, this is the shot that I want. But they've already been vaccinated. That's the problem.

It's a really really good point. And we are hearing from Anthony Faucci, for example, who's telling people get out there and the first shot that becomes available to take it, especially if that's J and J, and the Biden administration has been unified in that message. But you're right, they're vaccinated. So we are going to need to see some new faces out there. Hey, I'll get the shot on the radio. How's that? I volt perfect? And we'll be able to

see it on YouTube. So it's a good thing. I mean, whether or not you like it, it's coming the J and J vaccine because we are expected to hear from President Biden later on about kind of an unusual collaboration between two competing big pharma companies. We're talking about J and J Murk working together to produce it. Right, So Mark is going to help Jane J manufacture it's COVID nineteen vaccine. Um. They will equip two facilities to start producing these shots, and later today we will hear from

President Biden about this collaboration. Of course, these two fierce rivals now coming together and sort of describing it as a wartime effort to get shots produced as quickly as possible. When you say as quickly as possible, when they say as quickly as possible, what are we What are we thinking here as far as timeline goes, Because Drew Armstrong was on Quick Take earlier today and he said, look, this is the type of thing that takes a long

time to get going. Yes, that is a very good point to make, because UM, as soon as possible could be a few months. And obviously that's not what we think of when we think of as soon as possible, So it could be a while. However, the companies are indicating that this could help J and J quickly deliver on its promise to UM to distribute a hundred million doses in the US by the end of June. So

perhaps this helps us get to that goal faster. But tvd Angelica, what I don't understand is UM, why was it J and J Ramping up production to begin with? Like you knew it was coming, They had high expectation it was going to get through in in terms of FDA emergency authorization. What the heck was going on? It's a really great question. And I think it's something that a lot of people are wondering because J and J is a massive company with tremendous resources. However, I've seen

their manufacturing, I've spent some time with them. It's pretty impressive. But vaccines, as Alex Scorski, the CEO of Johnson Johnson, told our Bloomberg Colleigue colleague Riley Griffin yesterday, vaccine production is hard. It takes a lot of energy, and it takes everything going exactly right. However, they are saying that they are still on pace to deliver the twenty million shots they've promised by the end of March, which would be a pretty significant ramp up in just a few

short weeks. So how quickly do we start to see I mean, I know the shipments have arrived today, How quickly do we start to see these showing up? And where do they show up? And we only have about thirty seconds left. It's um a great question, and it depends. We've heard from states saying this will go to health departments,

mass vaccination clinics, the armacies will get them. I talked to CBS this morning, and they'll start actually putting these shots into arms Friday, so I think it depends on um, you know, different paces across the country. But we'll see these shots going to arms this week. All right, Gonna live with there and Delica, thank you so much. Angelica Levito healthcare reporter joining us from our bureau right here

in New York City. Don't you wonder though, like, yeah, because we knew, I mean months ago, you know, so only having four million ready to go seems like a small number. We're spoiled because we've seen these numbers in the millions all the time. And I do wonder, like, are you gonna go up to a vaccination site and be like what am I getting? Remember, I will say one shot. It's one shot, So one dose is one inoculation.

That's a big deal, and it's a big step forward in terms of I think herd immunity helping us get closer to that. This is Bloomberg Business Week with Carol Messer and Bloomberg Quick Takes Tim Stinovic from Bloomberg Radio. So, Tim, we've got an update on the current Bloomberg Business Week cover story. Uh, it's about the sneaker heads that have turned Jordan's and Yeezy's into a Nasset class It profiled Joe Hebert, whose West Coast Street where was buying and

reselling sneakers. His story, you might recall us we get a little bit of a twisted it. It did. We didn't give away the ending, but it's kind of like a spoiler alert now, yeah, and that twist leading to an abrupt action. Let's get the update with us as Blueberg business wee get it or Joe Webber on the access line in Brooklyn along with Bloomberg Business Week freelance writer Josh Hunt, who wrote the story. He's with us

from Portland, Oregon. Joe'll talk about an impact. Well, I just feel like saying like when last we left her hero because special when seems get transpired then and really that the story took a took another turn yesterday when Nike announced the resignation of Ann Hebert, who was Joe's mother. Um so, so talk to us about the implications of what all has gone down and what it what it means. Josh, Yeah, I mean, coming into this story, you know, one of the one of the big questions was was what is

this all mean? You know, from from the moment that I first learned, uh that Joe's mother that you know, my my main sneaker reselling character was had a mother who was a top executive at Nike. Um, you know what did that mean? It's a very gray area. And and you know, readers of the story will note that we didn't accuse them of any wrongdoing because it's a it's kind of an it was very unclear, um what

this meant. And uh, now we have a little bit more clarity what this means now that Nike has taken well, Nike hasn't taken any action now that and Hebert has decided to resign. Um. But uh, Frankly, I have to say I'm a little bit surprised because Nike uh defended Hebert's very strongly in the piece, you know, when we went to to them for comments prior to publications, and so, you know, for is to happen so soon after the story landed, I have to think that, uh, maybe there

was something in the story more than they expected. Um uh And I still wonder what that might be to be perhaps determined, Josh, I mean, you've got your work cut out for you. In the meantime, can you talk a little bit about the conversation that that that's happening on Twitter right now, Like, what are you hearing from people? Because I've seen that you've been interacting a little bit. Yeah,

it's a very interesting time in the sneaker world. I'm hearing uh, you know, not just from people on Twitter, but another uh you know, there's this black owned um sneaker resale platform called Another Lane, run by aDNA Jones and her husband Chad Jones and um and I uh, you know, in my interview with a Dina when she learned about this twist and the story, her quote was, that's the height of privilege and um and you know, um, they've been here, they've been getting a lot of positive feedback,

you know, from people who have read the story, and a lot of support and things like that, and and so on one side of the you know, inside the sneaper community, those sorts of conversations are going on and

on Twitter. It's uh, it's really running the gamut from people who you know, people who have as they you know, so many people are tweeting, uh quote tweeting my tweet with pictures of Joe's warehouse and saying, so this is why I can't get Jordan's up so this is why I'm this is why I'm always this is why I'm always taking an l on the sneakers app, you know, And so you know, part of it is is um, obviously people are happy to have some clarity about how

this world works. Uh. Some people are just uh you know, kind of luxuriating and blind rage over all the sneakers they haven't been able to buy UM. Well that I mean, it's totally right. There's even a little bit of conspiracy theorizing happening. You know, some people are taking it farther than we've actually said in the story. Yeah, well as the Internet is wanting to do. Um. You know, I think it shows the nature of just like how fraught

this world actually is. And I think we we we hinted at some of that without really realizing how much we were going to stir the pot or kick the hornets nest or whatever, Josh. But because ultimately, like there are there's some class undertones that I think people are talking about. There's clearly the racial ones, which you indicated, and like that, I think like we we only scratch

the surface of what all that meant. And I think that's been sort of part of the fallout, And I think what it really shows now is, you know, we effectively our story was about the ecomoics of this, and you know, obviously it plays into the tech side of it, how bots can be unleashed to sort of like squirrel away help squirrel away inventory and all of that kind of I think gets back to this challenge that it actually does face corporate America, or at least parts of

corporate America, where you have products like this that can really galvanize attention, and also employees who are put in sort of perhaps sometimes uncomfortable positions or positions that could be you know, fraud, I guess. Um, So, Josh, when you think about that, I mean, obviously you've been head down in the sneaker world here, but like when you think about the extrapolations of that through corporate America, can can you kind of theorize like who else is probably

dealing with some of these same fraud conversations? And Josh, we just got about sure what I can say, I mean without theorizing too much. What's what's clear to me? Um, The part of why this touched such a nerve is that the sneaker world is kind of at the at the nexus of you know, it's a little bit like the game stop stuff and the Bitcoin stuff in the

sense that it's both a subculture and a market. And so you've got all these people from different class backgrounds, from different racial backgrounds, these these uh, this you know, big mix of people coming together trying to be involved in the market and um and you know all kinds of kind of watches happening. Well, it's incredible. The story goes on, as we said, another another edition of this story.

Hey Josh, thank you so much. Freelance writer Bloomberg Business Week from Portland and Joel Webber, Editor Bloomberg Business Week. You're listening to Bloomberg Business Week with Carol Messer and Bloomberg Quick Takes Tim Stinovic on Bloomberg Radio. Bloomberg Business Week brought to you by a s c I. Since it's founding fifty years ago, SEI has provided investment managers and asset owners with robust infrastructure platforms and flexible outsourcing solutions.

Go to se I c dot com, slash i m S. So what is going on in the hallowed halls of old time Wall Street, Tim stanebec That's the big question. It is and it's our top story at this hour. Several stories actually in the last few days, people coming and going, mostly going, especially from Goldman. Sachs. Yeah, that's right, Um, Wall Street poaching is heating up with fintech funds on the hunts. Yeah, exactly. So let's get more from unders Melon.

He is executive compensation reporter at Bloomberg News, wealth reporter at Bloomberg News, and Tree natarajan finance reporter at Bloomberg News. Both are on the phone in New York City. Unders in our New York bureau and shere. I gotta start with you because that news today, another very senior Goldman executive leaving. Uh. We just heard John Tucker talk about it. Karen Seymour Goldman senior, our general counsel. What's going on with Goldman. It's a great question, Carol. Look at the backdrop.

Goldman had a phenomenal They've had a good start to beg their stock is ripping ever higher all time highs, and yet you're seeing some high profile departures. It's not unusual to see people leading from a big Wall Street film at this time of the year. Que the bonus noise. But what is unusual. Here is the profile of the kind of people leaving at a time when you would

expect calm seas a place like Gooman. So surely, when when so many high profile people leave in such a short period of time, is there any concern about the type of message that that sends to the firm? Oh? Absolutely, and and and in the way it's that in the case of Karen sim Or, she leading off to three years, which might seem like she's been there for a while, but you typically just do not see great turnover in

a seat like that. A general council role at the sound like Boman tax is one of the most plumb assignments but also the most challenging assignments in in in in the corporate world when it comes to legal jobs. Predecessor wasn't that seat for twenty six years, and that

might have been unusually long. U Karen Semer is out in three y is because this role is tied to who the chief executive officer prefers, and the sense that we are getting is he wants to install of his own person, which is why I Karen say orders leaving. But look at some of the other departures. The head of Gorman's consumer bank. That is the big new fledgling business at Goldman sax On which they have been their future. They have said it will become a very part of

what Goldman Facts will be in the future. So it's not a good look when the head of that business is and a top deputy of face, who are two of the four partners in the business. The only one left is an executive who joined three weeks ago and another one who was already moved into this chairman sort of role because it was the original face of Marcus.

And then you have the asset management head that is another big focus area for Goldman Sachs under David Solomon, and just six months ago he promoted Eric Lane to cohead this expanded asset management business. Surely he would not have expected that he would get up and leave, and he has done just that, and not to retire or go off into the sunset, but go and work any large in this big investing wheel out there, which is Chase Goldman's Tagger Global Rights. Not they're buying a big

sailboat and sailing the world. Um so Andre's melon, come on in because you've got a great story on the Bloomberg about Wall Street poaching going on by fintech in the fun world, talk like kind of broaden this out here, what are we seeing, because it does feel like a lot of people are leaving those plum jobs on Wall Street to go to startups or to start up a business for a Walmart. Yeah, So like like sure, you're saying, you know, partly this might be chalked up to a

bit of shuffling that happens after bonus season. But what people that I spoke to yesterday also told me is that it's it's sort of indicative of the just a mess of ripe opportunities that are to be handed by top people, especially if you're a specialized in areas like syntech or crypto or something that has a heavy fin show components to it in terms of tech, and there's a lot of money sloshing around to lead them away.

So UM obviously prominent example, as Free mentioned is Omer his Mail, who left um Goldman's consumer bank Marcus to lead a new Walmart venture that we don't know a ton about yet UM, but clearly an interesting opportunity, I'm sure for him to build something that has the backing and the resources by a brand of Walmart and then potentially the ability to touch tens of millions of customers through the stores that that um that Walmart has and Goldman Sachs as we know, don't really have that kind

of footprint. So what does a company like Goldman Sachs have to do in order to retain top talent. So, yeah, that's also something I ask people, and it's you know, it's it's a little tough. One thing that was pointed out to me was that, you know this decisions like this isn't necessarily about money. It's about building new things you get to be part of of of making a big impact. But in these situations, you know, money tends

to not be an issue until it is an issue. Um, there's a lot of money slashing around and and in new ventures like this, perhaps at Walmart, you tend to be able to sometimes see creations of special classes of stock and privately held ventures or profit sharing plans that can be extremely lucrative. It can be a bit controversial to set something like that up at a at a big public company where you have at a publicly traded stock,

and that can create some discord internally. So money could be be a factor, that's for sure, but it is an opportunity to lead something and kind of that's all your own, Heytree, last question, Um, does David Solomony to be worried at all? Are people questioning like, hey, David, what's going on at Goldman? Just quickly? One would have

to assume that shouldn't be the case. You've just come off when let's be honest, the pandemics lan from Lum for most people proved to be extremely possible for Goldman set. But in the same time you had a slew of departure and Carrol, you and I have talked about this so many times in the past and the first couple of years of David Solomon's reign as the CEO, and that was choked up to redeem change. When you have a new management, people of the old garden are automatically

flushed down, and that is to be expected. But then what explains what's been happening over the last three months, even before this little chunk of exist that we've heard about. Just in this past three or four days, we had Greg Lenco, the well liked UH investing bank boss and Goldman leaving and he went to work at another firm that was totally unexpected and that has started with people. So these moves are certainly reverberating inside the film. As long as the money is good and the start is

doing well, it isn't a problem. But when the good times end on that front, all attention will focus to what's happening with your work for common chairs up so far this year? Alright? Three not urage and financial part a Bloomberg News. Thank you and our thanks to Andre's mell and well for patter a Bloomberg News. This is Bloomberg business Week with Carol Messer and Bloomberg Quick Takes

Tim Stinovic from Bloomberg Radio. So in this week's Bloomberg business Week Small Business Survival Guide a story about a small business owner helping other small businesses. More specifically, we're talking about Minneapolis distillery. It's owned by Chris Montana. He has been on the front line of the dual pandemic of COVID and racism. Chris is the owner of du Nord Craft Spirits and he joins us on the phone from Minneapolis, along with Bloomberg business Week contributor Nick Lieber,

who wrote the story. And he joins us on the phone in Brooklyn and Nick, first of all, I have to tell you we've been talking about Chris in the newsroom. We feel like this guy has just done so much good. How did Chris come to your attention? You know, I was very curious about how businesses areferring in the in the recovery or the sort of uneven recovered small businesses.

And I reached out to Chris and he was kind enough to talk to me about UM, everything he's been up to, which is a lot, but I was surprised by what, you know, by history. I didn't realize how much he was doing UM. And he you know, he's sort of given dozens and dozens of grants to local UM, local mainstays in the community, local businesses. He set up a food bank, UM, and he has this vision for an incubator UM. I think it's really interesting. Hey, Chris, come on in here. Uh take us back to just

about a year ago when the pandemic hit. What did you have to do? Well? First of all, thanks for having me on UM. Yeah, I mean it seems like ages ago, but right when the pandemic hit, we the first step was our staff didn't feel safe and so our business model at that point was, we've got most of our revenue from a cocktail room, when uh less

so in distributions. Very hard for small companies to make money and distribution, and so we decided to shut down the cocktail room, and with that we kissed goodbye to most of our revenue. And you know, we're a small family owners for my wife and I company, and we really we thought that was the end um and but the thing that we did have is we had some

booze laying around. We knew that there wasn't enough hand sanitizer, and so we decided that we'd take what we had, we'd make some sanitizer, and we'd give it away to

first responders and other people who needed it well. And I mentioned on the introduction, Chris, that you were really dealing with the dual pandemic because first the pandemic hits, and then of course what happened to George Floyd in Minneapolis, which we all saw and we've talked often here at Bloomberg about kind of the dual pandemic of health crisis and also racism across our society. You actually took a blow as a result of it because of the protests

and the violence that happened to Minneapolis. Um, something that happened to your warehouse. Yeah, I mean, we we had some damage. We had some folks break in and set some fires in our in our warehouse, and you know, it took out, you know, our a lot of inventory and we had some machines in there. We had mistakenly thought that that would be the safer place. Beforehand, we had moved a lot of things into the warehouse, thinking that would make them safer than the other side of

the building, which had a lot of windows. Um. And you know, and that's unfortunate, and it was very hard. I'm not I'm not going to try to paper over that at all. I mean, I definitely shed more than more tears than I have in a very long time. It's hard to watch something that you've worked on burn. But go ahead, no, no, no, Well, I was gonna say, Nick, what is it that you you wanted to find out

about Chris Um? I was. I was curious how you sort of how you reinvent something in the midst of also trying to make have your business be able to survive, and this idea of sort of stepping back for a second and saying what what what does my community need as opposed to what does my business need? UM? Was it was something that Chris sort of taught me about and and and Chris, you recognized what your community needed. You raised hundreds of thousands of dollars in a go

fund me UM. But what did you do with it? Well, we we didn't think we're going to raise as much money UM. And it's really started because people were raising money for us and we had some insurance. We didn't want to get a windfall from this, and so we set out to raise thirty dollars and then we ended up raising a million bucks. And what we did with it is we created a foundation. That foundation had three goals. One was to run this food bank because we had

food insecurity. But the second one, and where most of the money went, was to grant to other small businesses because many, particularly black and brown owned businesses, were uninsured underinsured, and it would be a double injustice if George Floyd would be murdered in the aftermath, we would also lose a few businesses that we have that we're starting to bring the business community to black and brown communities. And

so we gave out grants up to fifteen dollars. We helped out seventy four different businesses, many of whom are back up today. It's so great. And I know you're you're trying to buy and renovate a big building to serve as an incubator for Neasson entrepreneurs to use rent free to launch food and beverage businesses. Man, you are giving back on multiple levels. Um, it's really wonderful and an honor to talk with you, Chris, and we really wish you well. And Nick, thank you so much for

bringing the story to us. And I highly recommend folks will put it on on Twitter, but go to Bloomberg dot com for more. Nick liber contributor to Bloomberg Business Week with us from Brooklyn, and Chris Montana, owner of du nord Craft spirits on the phone from Minneapolis the Journal. Yeah but you let me drive? Oh no, no, no, no, all right, please, I want to drive, per question. Try job. This is the drive to the globe. Give me thanks, We'll try us Dawn on Bloomberg Radio. All right, so

it is the drive to the close. Just about eleven minutes left in today's trading session. Bouncing around, uh, tim higher, lower, higher, lower, back and forth. Right now is John Tucker mentioned OWT about twenty one points on the SNP, a decline of about seventy six points on the data. That's just a quarter of a percentage point lower. Uh SMP down about half a percent Nastik though those tech names continuing to take the most heat, down about one point four points.

But I think it's safe to say we continue to have these conversations about overvaluation, taking a little money off the table when it comes to these names. But even when that happens, it seems like investors often have a tendency to come back in when they can get in at a lower price point. Yeah, that's kind of what we have been seeing over the past few weeks. By

the dip. Investors don't want to miss out on what we saw over the last few months, and they see any opportunity, especially with the high flying tech companies, to come in when there is any sort of decline. And I think it'll be interesting as we go along further, as we continue to see and fingers crossed that the economy continues to gain more ground, we get to see we'll get a big number on Friday, the monthly jobs reported.

It's backwards looking, but it gives us a good gut check on where we are in the US labor market. If we continue to see that repairing fingers cross because there are still millions out of work at this point, and whether or not we continue to see certainly the equity trade evolve. We keep talking about the reflation trade as investors are looking into those sectors of the economy that will do better as the economy does better. So let's broaden out and talk a little bit about the market. Yeah.

Ron Carson is chief executive officer of the Carson Group, joining us on the phone from Scottsdale, Arizona. The Carson Group has more than billion dollars in asset under management. Hey, Ron, great to have you on the show. What are you keeping an eye on in today's market? Well, I think it's interesting. You know, the volatility in the market, um is well what we've grown used to. But what's really impressive is this economy. I mean, we are clearly we've

got profits back above pre COVID levels or pre pandemic levels. Um. We have you know, two one is probably gonna come in GDP around ten percent. That's the best. It's almost I started in the business on top of that. But it's a bounce back. It's a bounce back. We have to be smart about how we read that number. Okay, and it's it's a bounced back, but there's a lot

of stimulants. It's continuing to come. And we have the one point nine trillion just go we you know, on behind that, we've got a two trillion dollar infrastructure spend that I think we'll juice the economy for some time. And then on top of that, um, this the pent up demand, I mean the amount of money the consumers. Say, currently Americans have almost four trillion dollars not two and a half trillion more then we had prior to UM the pandemic. And so what I'm what I'm really watching

is inflation so interesting, it's really move up. Um. We've had pal signal we're going to be ultra dubbish. I mean, he basically said full employment two average, not to percent inflation two percent average. So that means it's got to happen over a period of time, and then we have to have projection showing two or more. So we've got the said definitely in here going to support the market we've got. The average consumer has got a ton of cash, they've had nowhere to spend it. They've got a lot

of desire to spend it. And so if I wanted to really pick something to worry about, I think we're headed for, you know, some real inflation in the future. You know, it's so interesting you talk about how strong the economy is and how strong you projected to be, because yes, we do see a recovery happening in stocks that happened, corporate profits are are are strong as we're learning from earnings. But there are still millions of Americans who are unemployed right now. Um, that has a serious

economic effect. It does. We have ten million people that are unemployed, and I believe and when we especially as economy is starting to open up, I think we just had Texas come out and said, hey, we're gonna lift the mask mandate. UM and our own community in Omaha, Nebraska, and I'm out in Arizona right now. I mean, people are starting to live again, and I think we're gonna

start seeing job creation. And you know, when you look at the infrastructure spend that the current administration is gonna, I believe, gonna get through that's gonna that's gonna mean a lot of jobs over the next decade. So, um, I think, I think, and not to mention, I think another piece of being missed here is this massive shift to a digital economy, and there's gonna be a handful of people that are going to try to hold onto those you know, all them old rold jobs that just

aren't going to translate into the future. So there's also going to need to be an element of retraining in here. Well, that's a good point. I feel like we've been talking about retraining though for a long time. As the economy and the world continues to innovate and we continue to see disruption. How uncomfortable that might that make though the economy as we see that kind of dislocation, Carol, I think it's very uncomfortable, and I've witnessed it, you know,

in my own life. Um grew up on a farm and watch farming farmers have to make that transition, which was a very difficult transition. And then you know, if you look at the you know, the the old skills that you had to have as a worker versus which you have to have today. And when we were handling rollovers for a lot of people that were getting you know, their jobs eliminated. They really just didn't have the skills for the next job. It's uncomfortable, but it's the reality.

I mean change and if you're not prepared for it. Um we Adaptability is going to be key as we move forward as a society into the future. We're gonna have to be more adaptable than we've ever been in the past. Well, a couple of companies that you're keeping an eye on that you are bullish on include Microsoft and United Healthcare. Let's talk Microsoft here. Why is there still room for Microsoft to go higher? Yeah? You know, Microsoft were at one point six trillion dollar market cap.

They were I was just talking about this a few days ago. You know, we use UM you know Microsoft Office teams. You know, they it's enabled the company to early transition from the heart of operations to a launch pad for you know, their enterprise cloud workflows Azure. And

you talk about UM a company that has adapted. You know, look at Microsoft, I mean they've gone there there to me, They've they've apple ized right, the things that they do, They've made them so simple that anybody can can use them and be productive and we've seen a tremendous productivity left even in our own organizations through Microsoft. So we think that, um, they're gonna take advantage of that, and this shift to the cloud computing is going to drive

even greater business efficiency in the futures. So we're bullish on Microsoft. And you're just quickly twenty seconds, so you're comfortable with the levels. I mean, it had quite a run last year. It had quite quite a long run there, curl. But I think what we're with the markets having a hard time catching up to write, what we thought would take a couple of years in a decade happened literally in a year, you know, with the migration to the

digital world. Yeah, Microsoft is in the center of that. Yeah, there's those companies that you know, are in the spot of right as things, you know, pick up a lot of momentum in terms of those changing trends. If they're in the right place right there, just gonna benefit from it. Yeah, Amazon, Microsoft, Appleflix. Right, this momentum, you know, plays that everybody gets a little concerned about. All right, Ron Carson, thank you so much,

CEO of Carson Group, on the phone from Scottsdale. Lovely Scottsdale. Thanks for listening to Bloomberg Business Week. Download the podcast on iTunes, SoundCloud, or Bloomberg dot com, and you can also listen to our radio show at two pm Eastern on Bloomberg Radio or watch us on YouTube search Bloomberg Global News. It's a nom