35 Burst results for "Eric Schmidt"
Sen. Tom Cotton Shares His Advice for Silicon Valley and Others
"Senator cotton, two very quick things. And I'll let you go. Get Google ronna McDaniels out this morning saying, Google is muffling RNC messaging. And I don't think we're on a make stuff like that up. And everywhere I go, and I'm going to go out on a barnstorming tour. I hear about the Zuckerberg boxes. I think Mark Zuckerberg meta a whole out of which they're never going to get. What is your advice to Silicon Valley in anticipation of the regulation that is coming in election 2022? I just don't think Zuckerberg or Eric Schmidt or anyone from these companies can repeat the mistakes of the past. My advice to any business leader, I'm giving it to many of them is to remember what Michael Jordan said. Republicans buy sneakers too. And Republicans vote in elections and while the left may control the media and corporate America and Hollywood and big tech and college campuses, the one thing they don't control is the elected parts of our government. And when our voters make it clear, they are tired of having big tech companies suppress their views or for that matter, having big corporate executives use their corporate power to weigh in for left wing causes. They should expect the backlash. So if you stick your nose where it doesn't belong, don't be surprised if it gets punched.
Matt Boyle Shares His Predictions for MAGA Success in Congress
"Couple of times already, we've mentioned the midterms of Matt Boyle. Here's my big question for you as somebody who knows the swamp better than anyone else who's been following and writing about the politics here for years and years and years. Exciting. Lots of, I mean, what is it? The president Trump is a what a 150 to 9 record of interest. Some absurd best efforts. Best ever times like a thousand. So exciting. Maga candidates, American first candidates crushing it. But here's my big, so what? Okay, they can win. They can come into the house coming to the Senate going to state legislatures. But without a change in leadership, because Matt Gaetz isn't going to be the Speaker of the House, right? We're not going to have a maga leader of the Senate. So it kind of grinds to a halt often November or can America first with president Trump coming around the corner for 2024. Can maga success be reflected actually in Congress? What's your prediction? I think that it's going to very much be reflected in Congress. And so look, this is a long battle that we've been engaged in. So yes, we shocked the world when president Trump won The White House in 2016. But the Republican Party hadn't fully changed yet. It was starting to happen a little bit, right? Some of these good guys were winning primaries in 2012 and 2020. There's very early. So this is played out over the course of the last several elections since then. So now it's happened faster in the house than it has in the Senate. And that's just because House elections are every two years. Senator elections are every 6 years. But look at the Senate picture. Look at these new guys that are coming in to the U.S. Senate. JD Vance is much different than rob Portman. Okay. Ted bud, much different than Richard burr. Eric Schmidt and Missouri, much different than Roy blunt, who's leaving. So in the same goes across the board around the country. So it's each election you want to move the overton window and move things just a little bit more. The right direction and take as much ground as he can in a little bit more than that. We've been seeing that happen in the house. So yes, as Matt Gaetz is going to be the speaker. No, Matt Gaetz is not going to be the Speaker of the House. The speaker is going to be Kevin McCarthy.
The Collusion Between the Biden Administration and the 'Trifecta'
"There is an important ongoing lawsuit and investigation that is being conducted by the attorney generals of both Missouri and Louisiana. The Missouri attorney general, by the way, is Eric Schmidt, who has been on this podcast. The Louisiana attorney general is Jeff Landry, the two of them have come together in a very important enterprise. What's the enterprise? It is to fully expose the unconstitutional collusion between figures and the Biden administration, strewn through many different departments and agencies, including The White House, and a trifecta of social media companies. Was speaking here specifically about Twitter about Google slash YouTube and about Facebook slash meta. Now, really ever since Biden took office, the Biden administration has been pressuring cajoling conspiring with social media companies to ban people to ban what they call disinformation or misinformation, but it's merely information they don't agree with. Misinformation here has the sort of has a kind of ideological definition. It is what our side says goes, what your side says is automatically classified as out of bounds. So this is a naked exercise of political power. I mean, think of it. It's not only a violation of free speech. It's a violation of democracy itself, which relies upon a multi party system, a diversity of ideas, people having forums in which they can put their ideas forward. Now, for some time, groups like Facebook and YouTube with several private organizations, we can have our own guidelines, we can have our own rules. You don't like it, you form your own platform. First of all, when parler was formed as an independent platform, they all came together and including Amazon and Apple to take it down. But it's a whole different matter when the government is working hand in hand with these so called private companies in order to suppress speech. And this is really what Eric Schmidt and Jeff Landry are exposing. Now, they have gotten a whole bunch of discovery, and this discovery extremely eye opening. They have all kinds of communications from people in different agencies, emails, directives, apparently teleconferences back and forth, in which these agencies are working with these social media companies about banning people, deplatforming, restricting them. So in the sense that they're well on their way to proving their case.
Big Wins Across State Primaries This Week
"Had Kansas and Missouri Arkansas having battles, Missouri. We saw Eric Schmidt, the attorney general over there when the nomination in the battle of Eric's Donald Trump chiming in with an endorsement of Eric with two candidates having the same first name, Eric Schmidt ended up getting the win and will face off to try and make sure the Missouri Senate race stays in Republican hands and then down in Arizona. Carrie Lake finally gets the final nod that she's the winner in Arizona. Maricopa County, Phoenix that screwed up the 2020 election has done no progress in getting any further along at being able to actually count votes and get through an election process. You know, you've got other countries where they can literally hand count ballots and they can do it in 24 hours. Maricopa County can't even get it done in a few days and they had chaos, they had confusion, like we saw in 2020, despite all the denials that there was any election problems in Arizona that it didn't get stolen from Trump, but a big week there, and then in Tennessee, where we're broadcasting from in Memphis, Andy ogles wins the Republican primary in the Tennessee 5th congressional district. Last night, as Republicans redrew that district in Tennessee, it's been a 9 congressional district state for a while. Traditionally, you've had 7 Republicans to Democrats in recent years. Well, with redistricting, Republicans redrew the lines in Nashville, dividing Nashville up, adding some of the suburban counties to it. And for the first time for the first time since reconstruction, the Civil War, Republicans have an actual shot to pick up Nashville and probably do that new district is about a 12 plus Republican district Donald Trump carried it by over a dozen points,
Eric Schmitt Wins Missouri Republican Senate Primary
"Good Wednesday morning to you. It's the morning after election day. Eric Schmidt is the nominee in Missouri. That's a giant relief he's going to win handily, attorney general Schmidt. And now we have the field all but set. There are ten key races for the United States Senate. And I always focus on the Senate. Anyone who's listening to this show for years now. By the way, Kerry Lake is about 20,000 votes ahead of Karen Robson. I think Carrie Lake is won it, not quite sure yet. No one's called it, tutor Dixon is the nominee for governor in Michigan. And Blake masters, the nominee in Arizona. None of those unexpected, the Taylor, the Kerry Lake Karen Robson race is a dead heat statistically, and the polls have that completely wrong again. Do not read the polls. It's sort of like, I know Herschel's of Raphael Warnock. And I know the polls show that he's not. And I know that Doctor Oz is ahead of John fetterman, the polls show he's way behind. He's not. It's just that they don't know how to pull anymore and they won't admit it and they continue to use it because the media is left wing. And they don't want to make it obvious. Look, here is the rundown. I just tweeted this out. I hope you'll do two things. To begin this morning, might be a little bit. While trying to get my voice because that late night following results last night until I finally couldn't see any way to figure out who was going to win in Arizona's governor race. Eric, Eric Schmidt had won the Missouri race fairly early, as had tutor Dixon the Michigan race. There are four big races last night. Michigan governor, and my guy lost, I wanted Kevin rinky, but I kind of knew that tutor Dickson was going to win when Donald Trump endorsed her. I really mattered the most to me with Eric Schmidt winning an Missouri. I've got to tell you, we have a safe red seat there, a safe, deep red state that could have been thrown away and we didn't throw it away 'cause they nominated the strongest, very competent candidate when the show me state nominated Eric Schmidt.
"eric schmidt" Discussed on WTOP
"P 5 states held primary elections last night results are still flowing in for some races including Washington state and Arizona. Joining us live on Skype can Ruben host of the political junkie podcast who is also covered politics for ABC News and NPR Good morning, Ken. Good morning. We've seen some fascinating results in the races for governor Senate and the U.S. House, but let's begin with the voters of Kansas rejecting a referendum that had the potential to completely ban abortion in that state. As the first government in the country had been watching that referendum for months now, it's the first test since roe versus wade was overturned. And of course, Kansas is a very conservative state, has an elected a republic. It hasn't elected a Democrat for the presidency since Lyndon Johnson in 1964 has an elected Democrat to the Senate since 1932. So shall we say this is a conservative state. However, it was overwhelming that they had the opportunity, voters had the opportunity to reverse abortion rights protections that are in the state constitution and the voters voted 61 to 39 against making that change. So for those who think that abortion and the road decision may be a very consequential for November, this was a very interesting thing to watch and yesterday in Kansas. Absolutely. A highly controversial former Missouri governor Eric greitens has not won the Republican nomination for Senate, Missouri, the nod goes to attorney general Eric Schmidt, and he'll battle trudy bush Valentine on the democratic side for the Senate. What do you think of this matchup? Great news for the Republican Party. They were scared to death about Eric right and who has a lot of controversies in his past about sexual harassment and things like that and the Republicans when he was the FrontRunner. They said, oh, we could actually lose his seat. Matter of fact, yesterday, two days ago, Donald Trump said, I'm endorsing Eric. Now we didn't know if that meant Erika Schmidt or Eric greitens, but the point is Eric Brighton's finished a week third. If Eric Schmidt, who won the nomination for the Republicans, which means in all likelihood, the Republicans are going to keep that seat that senator Roy blunt is giving up. Gotcha. Keep it in mind. We're still waiting for the results from Arizona and Washington to state and some of the other states has it been a good night for Donald Trump or a bit of a disappointment for him so far. Well, you know, we always seem to have a scorecard regarding Donald Trump every primary night. It's probably both because if you look at Arizona right now, the Republican candidate and the Republican primary for governor, Karen Taylor ropes and it has a 9 point lead over Carrie Lake. Now the only reason I mentioned this up is only about 57% of the vote has been counted, but Trump back carry Lake Mike Pence back the ropes and who has the lead of both Pence and outgoing governor Doug ducey back ropes and so you have Kerry Lake, who's very strong on election denial. I mean, she was one of those trumpers when it comes to not accepting the results of 2020. And yet ropes and who now has a lead who said, look, you know, Joe Biden is our president. So in that sense, it was a bad result for Donald Trump. But elsewhere like Chris kobach, who used to be a work for Trump regarding election integrity and things like that, he's leading in Kansas for a state attorney general. So there are a lot of issues where it's very possible that Donald Trump will come out and say, look, you know, I win, and of course he could say that in Missouri because of course he endorsed Eric. Of course. It might be the smartest thing he's done as of late, but don't use last name just his first name. Exactly. We got about 20 seconds left. What's the final thought you'd leave us with this morning? Well, one thing I wanted to say that people may not pay attention to remember rusty Bowers, the guy who testified on the January 6th committee, he was the Arizona state speaker who now realized that Donald Trump was lying about so many things. He looks like he's going to lose his bid for the state Senate rusty Bowers. He everybody thought he might be a hero, but right now Arizona voters are going to vote him out. He's not going to be in office any longer. Again, another victory, perhaps for Donald Trump. Thank you so much. That was Ken rudin of the political junkie podcast joining us on Skype. Thank you very much, Ken. Thank you. All right, and now coming up, let's why don't we go to two sports? Sports at 15 and 45 powered by Red River. Technology decisions aren't black and white. Think red all right, let's go to rob woodfork. Hall of Fame broadcast legend Vince Scully has died, his records are countless, 67 years as voice of the Dodgers, the youngest to call the World Series at age 25 in what was the first of 25 World Series play by play assignments. 20 no hitters, 12 all star games. Vin Scully, the most famous WTO alum was 94. No easy transition to the new look nationals 5 one winners over the first place mets to begin life without Juan Soto. Dave Martinez was just happy to have all the trade deadline madness behind him. I was relieved. I really was, I mean, I felt a different breath of fresh air and premieres about regrouping. And saying, this is what we need to do moving forward. So I was proud of the boys going out there today and doing what they did. Especially the rookies, Corey Abby tossed 5 scoreless innings in his first startup for the Nats in 30 year old Joey manesis in his long awaited major league debut, homered in his second at bat as the villain for the departed Josh bell, who along with Soto was del two San Diego for 6 players. Orioles fans saw all star closer Jorge Lopez dealt in Minnesota, but Jorge Mateo Homer twice in a 8 two victory in Texas. Ron Rivera's commanders were again without Curtis Samuel, but had their first training camp practice in pads. Just wanted to make sure that as we ramp this intensity up that we are doing things the right way. We don't want to lose our focus and our intent in terms of developing learning and growing just because we got the pads on. We got to play within ourselves. The mystics are doing that. They're winners of 9 of their last 12 after an impressive 83 73 win over the Las Vegas aces to sweep the season series and slide into fourth in the WNBA. Sports. Thank you, rob
Kansas voters uphold state abortion rights, CBS News projects
"I'm Mike Gracia reporting Kansas voters protect abortion rights and block a path to an outright ban In the first test of U.S. voter sediment on abortion rights since the Supreme Court overturned roe V wade in June voters in Kansas protected the right to an abortion in the sunflower state Borders rejected a measure that would have allowed the Republican controlled Kansas legislature to tighten abortion restrictions or ban it outright In Michigan Thank you thank you Thank you Donald Trump endorsed conservative commentator Tudor Dixon won the Republican primary for Michigan governor That sets up a November general election showdown with democratic governor Gretchen Whitmer In Missouri trudy bush Valentine beat ten candidates in the democratic U.S. Senate primary but she'll be the underdog against Republican attorney general Eric Schmidt in November in
Jeffrey Lord: Trump Is Brilliant for Endorsing 'Eric' in Missouri
"That's it. Look, it is a big primary day, Jeffrey lord, and we're paying very close attention to a couple of races in particular Arizona, but I want to start with Missouri, was that not the greatest political troll of all times that Trump did. I burst out laughing when I saw that. I thought, just for your audience, there are two candidates there for the Senate. Eric and Eric Schmidt. And so the question was, who would Trump the doors? And he puts out the word, I'm for Eric. I love it. And there are actually three erics that are running. The lesser known no one knows who that guy is, but he's taking full credit as well. Man, you can't make this stuff up. I mean, Donald Trump is that people like him don't like him. I love him. I know him, I think the world of him. But he is such a smart guy. When it comes to things like this, I mean, Clara, who would have thought of this,
The Gop Senate Race in Missouri Is Too Close to Lose
"Byron, let's turn to primary day, because you follow this as well as anybody. Arizona and Michigan and Missouri. I'm urging people to vote for Eric Schmidt because the FrontRunner is an attorney general, he's experiencing a good senator and we can not allow it greatness to be nominated if you're a Republican. I know you're not a Republican partisan like I am. But if he is elected, Eric, if we lose that seat because he's a despicable human being. Yeah, you know, there was a astonishing story. In Politico, I think, about what took place on Sunday at Trump's golf course in New Jersey where they were finishing up this live golf tournament. Trump was the host as the owner of the course. And there's this big debate about who to endorse in Missouri, Eric Schmidt, or Eric riders. And each has his advocates and Trump is going back and forth and keeps saying, well, heck, they're both named Eric. Maybe I'll just endorse Eric. And then actually had somebody check to make sure that they were both spelled Eric with a C so that it would actually work. This is the level of thought that went into this endorsement. And then Trump does this cutesy. I endorse Eric in the Missouri primary, which is really making a joke or something that's really actually very serious. Because the Republicans could lose the Senate. Now it's tied 50 50 with operational control for the Democrats because of the vice president. But they could actually lose the Senate. They could lose Pennsylvania. They could lose Georgia. They could lose Missouri. I mean, this could happen. And so we've seen in the past, the past decade, what happens when you get really bad candidates? Did you lose? And candidate quality is the most important, more so than ideology or anything. The most important thing in politics and state level politics. So this is really, really important. I agree with you. This is
Which Eric Will Win the Missouri Primary?
"Tell me, David drucker, it's primary day. Is Eric Schmidt, who should win in Missouri is a head in Missouri, Eric brightens a disgraced and falling like a rock, is Eric Schmidt going to win. Well, I still keep my eye on Vicky hartzler, even though Trump gave her one of his signature on endorsements. I talked to a lot of people in Missouri over the past few days, Republicans. The only thing they have in common is they want somebody other than Eric brightens to win. And they all told me that data they're looking at reflects the public polling that we can see. And they thought the only thing that might have saved brightens would be a Trump endorsement. And I was checking with some people yesterday when we didn't know which Eric he was going to endorse, we didn't know it was just going to be the generic era. And they said, look, even if it's great as at this point, it will be really tough for him. That endorsement really needed to come in by Friday morning. So Schmidt would seem to be in the pole position here. But I'd keep my eye on hearts for it because you never know.
Previewing the Tuesday Primary Races
"We play cut number two? Let's play. I don't know which kind of thing. Cut number two from Brett bear last night when the round table with Molly Hemingway and Josh krosh are going on cut number two. It will certainly tell us a lot more about president Trump's full. There is a third Eric, by the way. Our friend Henry Gomez in Ohio went and found an Eric McIlroy on the ballots, and we're not sure he's out of it. But what Josh said is true, Eric Brighton will lose that. He's radioactive, credibly accused of rape persuasively accused of domestic violence against his wife and child. He's plummeting the polls, Eric Schmidt, and his successful AG. So the former president played that down the middle. He strong with white masters who's ahead, the Michigan governor's race. He is gone late for not Kevin rinky, who I thought he was going to go for. So we often throws a curve ball for people. But I think at the end of the day, it'll turn out to be something people still covet on the Republican side that Trump endorsement. Yeah. Yeah, so that was, yeah, if you're in Missouri today, go vote for Eric Schmidt. All right, go vote for Eric Schmidt. Go vote for Kevin ranke in Detroit. The Arizona primaries are today. I did not take a position in the Arizona Senate race to be Blake masters or Mark Bernabeu masters as it had, but it's not without a question. Carrie Lake against Karen Robin, Robson, and I believe Karen Robson is the better choice. But Kerry Lake and sheer neck and neck, primaries all over the place. Play
Who Is the Frontrunner in the Missouri Senate Race?
"I want to move to Nancy Pelosi's one 6th committee, but only after I get your assessment of the Missouri Senate race. I have been worried for months that Democrats were going to nominate along with the help of some rather innocent Republicans Eric Brighton. Now he is collapsing according to both Trafalgar and this morning Emerson looks like Eric Schmidt is going to be the nominee and what would have been a likely loss for the Republicans becomes a surefire win if Eric Schmidt is the nominee. How confident should I feel about Schmidt? Who I've endorsed being the nominee. I think you should feel pretty confident because I think there's a factor that kicks in when an election gets closer and that is the reality of a candidate actually winning gets closer and I think with grid and that is actually hurting him. And Republicans are really kind of terrified about repeating the mistakes in the Senate of 2010 O'Donnell Todd Aiken and Sharon angle mistakes. Which cost the Republicans the Senate. They had to wait till 2014 max when the Senate. So I think it's 50 50 now. They just have to get to 51. And I think they're pretty aware of that.
"eric schmidt" Discussed on Squawk Pod
"To The White House and to politicians, how do you think about that? It's easy to criticize everything because everyone's in a bad mood these days. I blame social media, which is my own opinion. But the fact of the matter is, there's a long tradition of philanthropic wealth being used to help the country. It's true for human rights. It's true for innovation. It's true for science and so forth. I wanted to focus on the science side. If you look at America, the problem is we invented all of this stuff, and I want us to keep reading, right? And the way to do that is to take philanthropic money and innovation and government policy and the great work that we're doing in the greatest universities in the world and put it together. That's what I want to do. What do you make of this idea that people like you and others are either too close to certain politicians to The White House to the distance? Well, I have not been to the Biden White House at all. I spent a fair amount of time with the Trump White House, so that I guess that shows you how influential I am. The important point here is you've got to work with the government and you've got to help them do the right thing. Philanthropists are by law, not allowed to commingle financial interests. How do I social leadership question actually that I'm curious if you'd weigh in on a lot of businesses are now trying to grapple actually with big social issues in the wake of this road decision and so many other things. Google was one of the early companies that had a more egalitarian approach employees were allowed to speak up. How do you think leaders should deal with this? And also, how should they deal with it online? You have the Elon musks of the world who are very outspoken now on Twitter and places like that. Well, Elon is a unique country in his own right. He is a different sort of animal compared to everybody else in this space. And uniquely skilled to be. And do it right or doing it wrong. Well, I would never bet against Elon. But he is a special case. I don't think you should generalize from him. Almost all of the companies have become far more conservative in their leadership. Right. I was really proud to be out front on all the issues that we did when I was CEO, Larry and Sergey and I all agreed on all of these issues. My guess is the next generation of companies are going to be a little less out front because of the combination of abuse from employees, the press and society around them. And then finally I wanted to get your thoughts on crypto and web three. If you will, especially given the fact that valuations, the prices of especially of crypto have come down, how that changes or doesn't change the equation. And I know web 3 may be considered a different thing than crypto. I know we sort of converge these things. Again, these are marketing terms. But if you assume that web three was ten times overhyped and it's corrected 5 times, it's got some more to go. It's got some more to go. And therefore, look, the web three vision is correct. The technology to make it happen needs to get built. Here's an example. Ethereum goes to crazy prices with a million transactions a day. That's incredibly slow. It needs to get you rebuilt. Eric Schmidt, thank you for being with us. Great to see you. I hope to see you again very, very soon. And thanks for listening to squawk pod. Squawk box is hosted by Joe kernan, Becky quick, and Andrew Ross Sorkin. Every weekday morning on CNBC, it's 6 eastern, follow, squawk pod wherever you listen, and if you like what you hear, please let us know. Tweet us, at squawk, CNBC, or rate and review squawk pod right on Apple podcasts. Have a great day. We'll meet you back here. Tomorrow. We are clear thanks guys..
"eric schmidt" Discussed on Squawk Pod
"Opportunity is huge. Kathy, when you talk about digital property rights, it kind of takes me back to the potential problem for all the crypto customers in the event of a coin banks bankruptcy. The idea that they would lose their funds with that liquidation too. I think what I was most surprised by watching all of the fallout from the Bitcoin collapse in recent weeks was just the idea of how many, how many of these companies were levered up? How many of these big investors were levered up with that? Didn't that come as a surprise to you? Because no, it didn't. It didn't come as a surprise. This, there's a cleansing process. We're going to see it regularly. This is very early on in these technologies. And you know, we were looking, you can see in the traditional asset management world, the reach for yield there. We're wondering if you're looking at spreads gapping out in the high yield market, you're looking at credit default swap swaps in the market. If you use the MAR metric, we're now above where we were in fourth quarter of 18, which was a terrible period for the stock market. Moving into COVID territory. And this is true for money center banks as well. We wonder, we wondered, just as much, what did the reach for yield do in the traditional markets that has now being flagged by credit default swaps? And associated with the leveraged collateralized loan obligations associated with private equity and risk management in general to have okay, you can point to it in traditional markets. You can point to it here. Absolutely. When you're down more than 50%, you have to start thinking about risk management. And maybe you're in this for 5 years, maybe you're in this as a long-term investor, but even so, if you invested at the pre-pandemic levels, you're still below water three years later. That starts to get a little nerve wracking. And you make it up in the next two years. Comment suggests that we are a generalist portfolio manager, making asset allocation decisions. The most important thing we need to do is stick to our knitting. The worst thing that could happen is style drift. When people invest in arc, they know they're getting truly disruptive, transformative innovation. That's what we offer. And we don't pretend to offer anything else. So when you say risk management, what we do, as I mentioned earlier, is we concentrate our portfolio towards our highest conviction names. That means we are with the weight of evidence moving us, we are in some measure from our point of view, exercising risk control. Kathy, thank you very much. Thank you. Thank you, Andrew, always. Thank you. Bye. Cheese will be next. Next, on squawk pod former Google CEO Eric Schmidt's advice for the investors weathering their first market downturn. And the problem is a lot of these people are young and they've never been through a cycle. So welcome, you get another shot in a couple of years at all your greatness. Text correction and an innovator's outlook right after this. You're listening to squawk pod from CNBC. Here's Andrew Ross Sorkin. Our final guest from the Aspen ideas festival this morning is tech industry veteran. Ha, we have them here this morning to talk about so much. Eric Schmidt is here, a former CEO of Google, of course, and doing so much in so many other spaces as a philanthropist. He's now the founder of Schmidt futures, and we should mention that NBCUniversal news group is a media partner of the Aspen ideas festival Eric. It's great to have you here. Thank you again. So I'm going to talk about here's what I just want to we've been talking about markets all morning. You heard what Jim just had to say before that we had the president of the New York fed. You've been through a lot of rodeos, especially in the valley in terms of valuations and what's happening. What do you think is happening? Where do you think we are? You know, the tech industry makes its own weather, and we made too much of a storm. We got a little ahead of ourselves, and it's a correction. But we have our own logic. If our products work, we boom. And our next generations of products are going to work. So we'll do fine. The big issue is all these employees who had stock options that are not worthless. They got to deal with that. But aside from that, it'll be fine. It's going to be fun. But is this going to be carnage? I mean, is this 2001? What is this to you? Immense capital. There's enormous amounts of ideas. There's lots of startups getting started. I've been in funding them along with all sorts of other people. These cycles go on and on and on. And the problem is a lot of these people are young, and they've never been through a cycle. So welcome, you get another shot in a couple of years at all your greatness. But is this the opportunity then to invest? Is this one of those moments where you say, okay, actually, things are on sale? This year. This is going to be a good year. A good year for things that are on sale. Yes. A terrible, a terrible year if you had to sell at this price. Again, remember that tech trades like options. So the volatility is higher, but the option value is enormous. Let's also talk about what's happening in G 7 meeting. You spend a lot of time thinking about China. G 7, think a lot about China and what they should be saying to China about non market practices. There's lots of things that China does that we don't like, the way they run their business, the way they treat their people, certainly the way they treat Uyghurs and so forth and so on. It's all terrible. We need to figure out a way to win against product competitiveness with China. I mean platforms. I don't want to be using Chinese platform technologies. Chinese chips, Chinese networks, and so forth. I want American or western stuff in that. I don't want our communications. Our society intermediated by them, which brings us to the chips act, exactly. Which we perhaps everybody says we want and we've passed and yet we don't have. Look, here's the biggest challenge facing America in the long term, which is the question of competitiveness with China. They want to dominate all of the key industries of economic growth of America, AI, synthetic biology, new energy I can go on. They want to do all of that. We passed a law more than a year and a half ago. It's also through the house, and now we can't get it through the necessary steps to get it passed. It's crazy. What do you think's happening? Why? I think it's just sclerosis in the government because people are focused on other things. Compared to all the other crazy things the government does, this thing is bipartisan. It's important for American competitiveness. And let me tell you why. All of a sudden, we're having a good thing the Trump administration did is they got Samsung and TSMC to build chips in the U.S.. It's more expensive to build ships in the U.S. in the last 30 years, 36 mega factories were built in China, 24 in the rest of the world, zero in America, because our cost of construction is too high. You're going to have to subsidize that. This is straightforward economics for national security, we need to pay a little extra to have control over this essential part of are you a believer that ultimately, and I don't know what you think the timeline is, the China does take over Taiwan. And that's what that's what is the pressure point here. I'm not an expert in this. I think it's going to be a while and that's my own opinion because the issues of the integration of China and the U.S., they can't risk a divorce from the U.S. over the U.S. dollar, which is an untold story about this relationship. But nevertheless, it's important that America have western access to the key technologies of the technology revolution, which is the semiconductors. We made a decision in the 90s to get out of those businesses, even though we invented every one of them, largely because of cost. I have a personal question for you. You were a back or financial back or not involved day to day with the American frontiers fund. And there was a couple of recent pieces about that fund which aims, by the way, to help the U.S. government help the U.S. become stronger and more competitive. Invariably, it seems like with almost anything and you've been involved in a lot of different not for profit projects, similar to this. There's always a criticism of critique around billionaires in power, what the philanthropies about, whether it's to advance their own agenda or their own goods, how close people are.
"eric schmidt" Discussed on Squawk Pod
"The one and only Kathy wood, the widely followed technology investor on where she's looking for returns and what she and maybe everybody might have missed. We think we're in a recession, and we think a really big problem out there is inventory. And we're talking about the best managed companies in the world. If you're talking about Walmart and target, they have problems. We think there are a lot more problems. And another key name in tech, Eric Schmidt, the former Google CEO turned venture capitalist on big tech's stock stumbles. The tech industry makes its own weather and we made too much of a storm. We got a little ahead of ourselves and it's a correction. Two top guests talking corrections making money and crypto carnage. Can't leave that out. On this Tuesday, June 28th, 2022, a special squawk pod begins right after this. This is squawk pod from CNBC. Good morning, everybody. Welcome back to squawk box here on CNBC. We are live from the NASDAQ market site in Times Square. I'm Becky quick. Andrew Ross Sorkin is also here. Well, here, not physically, but here in spirit. He's at the Aspen ideas festival in Colorado. Joe is off today. Andrew got a lot going on up there. How are you? Hey there, what a first two three. Today, on the podcast, a special interview with Kathy wood, the CEO and CIO of ark invest. Wood is a bold investor. She's a particular favorite of a newer, younger class of socially savvy investors for her deep belief in disruptive technologies. Her arc innovation ETF is a 9 and a half $1 billion fund featuring forward looking companies working in artificial intelligence, self-driving cars, cryptocurrency, streaming, the rapid uptick in inflation this year, and the fed's recent hike of interest rates have taken the wind out of the sales a bit of high growth tech companies, big drops in longtime arc crown jewel Tesla, as well as Roku and coinbase have dragged Woods flagship fund down by more than half this year. It's below where it was at the beginning of the pandemic. Wood has also consistently been a buyer of free trading platform Robinhood, adding to her position over several months this year, shares of Robin Hood are down about 48% in 2022 due to shrinking revenue and declining users, and just yesterday, Bloomberg reported that Robinhood could be acquired by crypto platform, FTX, and the rumor said the Robinhood stock up 14%. But Kathy wood herself may be on a fresh hot streak, investors have poured money into the ark innovation fund for 8 straight days that is the longest streak of inflows in more than a year, the fund peaked in February 2021. Now, Becky quick starts things off with Kathy wood. Kathy, thanks for being here. Let's talk about what you've seen first of all in terms of inflows. What have you seen and why do you think it's coming in? Yes, I think the inflows are happening because our clients, we give away our research and our clients have been averaging down. And I think they've been diversifying away from broad based benchmarks like the NASDAQ, particularly the NASDAQ 100, because if you look inside of the NASDAQ 100 and you overlay our portfolios with them, you'll see only a 25% overlap, which from our point of view means that the NASDAQ 100 is focused on disruptive innovation only to the tune of 25%. And then you have the rest of it that looks a lot like the S&P 500. There are stocks in there like truckers and rails and utilities that you won't find in our portfolio. We are dedicated completely to disruptive innovation, transformational innovation. And I think the other thing is, and we keep beating the drum here, innovation solves problems. And we have a lot of problems. We had a great rebound out of COVID. It was significant because, yes, innovation solved a lot of problems. The genomic revolution, the digitalization of everything. And those aren't stopping. They are continuing, they've been accelerated. And here we are with supply chain issues, Russia's invasion of Ukraine, food and energy prices. Again, innovation solves problems. Innovation can solve problems, but it doesn't always lead to strong market returns. And I think we've all seen that over the course of this year. Our innovation down by about 52%. You say you keep beating the drum, but have there been moments this year where you've lost some faith, at least in market returns for some of those stocks. No, actually, what we've done and continue to do since February of 21 when we peaked is we've consolidated or concentrated our portfolios towards our highest conviction names. So we've gone from about 58 names in February of 21 to about 34 right now. So what you might say is those names which didn't score as high in our 6 metric scoring system all focused on innovation. We've moved aside, at least for now. And move towards our highest conviction names. And you've mentioned some of them zoom, Tesla, Roku. Yeah, let's focus on those three because I think those are the three top holdings for the arc innovation fund. I mean, if you look at some of those stocks because I've just been digging through kind of seeing what's happened with some of them for zoom, it went from $75 before the pandemic up to 550 for a peak. It's come back down to a 122, but it's still at 29 times earnings. If you look at Tesla, it's still at 99 times earnings at $734 if you look at Roku. It's still at 94 times earnings from at $94. And I just look through and think, you could be a 100% right about the future for all of these companies, what they are doing. But it doesn't necessarily mean that we get back to those elevated multiples that the stock market was awarding these companies for such a long time because there was so much excess liquidity out there. The Federal Reserve had a lot of money out there. It pushed investors into riskier assets. And now we've seen it come back down. The Federal Reserve is tightening funds. You may not see money supply like that out there again. So it may take years for some of these companies to grow into the stock multiples that they are the stock levels that they had seen it earlier times. What do you think about that thesis? What.
"eric schmidt" Discussed on Beyond Atheism
"Church of humanity and so on. But I think it's also important to remember that there were people in the 19th century who are saying, no, we shouldn't do that. We don't want any association whatsoever with religion, even though even though what they were talking about by a religion of humanity or something like, it was very far away from Christianity or whatever. I think there were still people who were like, you know, we don't want any even a hint of religion. Anything that, yeah, it gives an impression of religion like a church or caring about Thomas Payne's bones or whatever. So I do think it is an interesting thing how that does, I mean, that does shift anyway. It seems in the 20th century where I guess partly maybe because of Supreme Court rulings and because of culture war stuff that humanist groups and stuff don't really want to again project the idea of for the most part that they are religion. And it's also because I think there's a lot of trial and error here. Yeah. Yeah. Lead talks writes a lot about the churches that are attempted. And they don't really amount to much. They never develop. Yeah. And I feel like it's interesting because I mean I feel like when we talk to Jackie frost several episodes ago about the Sunday assembly and they are kind of struggles, I guess, to survive past an initial period of enthusiasm. You know, when it first starts and people are interested, like, how to build something more lasting. I mean, I feel like I feel like this has been, it's not something totally new, like what they're trying to do. I mean, this has been attempted for throughout the 19th century to build these kind of churches, like atheists kind of free thought churches or whatever. And it's the same kind of problems of how do you build something that's lasting. Even if you have a charismatic founder or something like how do you actually create an institution that's going to last beyond the life of this charismatic founder or whatever. And I think it's an interesting thing because for the most part, there haven't really been that many successes. I mean, he talked about the ethical culture society, which is still around. And the other interesting thing is I guess you can sort of come at it from two ways. You build a new institution like the ethical culture society or you secularize an existing institution like the Unitarians. Yeah, yes. Which is almost like basically I don't know too much about the Unitarians, but I mean, they're pretty secular, I think. I think they're brought very broadly religious. Okay, right. Yeah, there's a lot of debates from our perspective, but I don't think there's much actual information..
"eric schmidt" Discussed on WABE 90.1 FM
"To force school boards to do anything like this Though Lee summit school district had already voted to modify some of its mask mandate policies before the court ruling even occurred hatley says ultimately the decision does not bind school districts Eric Schmidt's actions against mask mandates as a stance popular with many Republicans here and it comes as he runs for Senate He's in the middle of a crowded Republican primary which includes former Missouri governor Eric greitens St. Louis university political science professor Ken Warren sees it as a campaign ploy He wants to placate his base pump up his base And he probably is doing a good job of it by doing just what he's doing now Schmidt did not reply to a request for comment but a spokesman previously denounced such criticism as ridiculous He also said the attorney general has received thousands of complaints regarding mask mandates and schools In addition to what is perceived by some as an overreach of its power Eric Schmidt is also being criticized for his lack of action concerning the ruling because his office represented the state's Department of Health which lost the case it falls to him to appeal the decision something Schmidt has not yet done despite the health department's urging Robert gatter teaches at St. Louis university school of law He says this lack of action from Schmidt has only caused more confusion Shockingly the attorney general has turned them down and decided nope I won't defend the state law but I will threaten people about how I can take action during this time of confusion It's unconscionably poor public service Recently both St. Louis and Jackson county filed motions to challenge the court ruling limiting the mask mandate powers of health departments In the meantime schools across Missouri now appear to have a tough choice Recent their mask mandate or face a possible suit from their state's attorney general For NPR news I'm Sarah Kellogg.
Eric Greitens' Bagage Could Hurt GOP's Chances for 2022 Takeover
"Senator Scott, look, I know Hugh Hewitt is, and I am deeply concerned about the Eric greitens in Missouri. Obviously, you recognize that there are concerns out there, though it doesn't appear that you're going to take a position, which is probably the right thing for you to do in your position. Is there a point where the Senate Republicans intervene and say, hey, hey, we gotta have an intervention here. This guy is just going to bring us down. I think I think that what you're going to see is one of the other candidates is going to win. I think that I think that you can already see it. I mean, Eric Schmidt, great. Billy long. I don't know Mark mccluskey, I know the others. But one of those, one of those will win the primary. I mean, we also have the state's president in the race. Dave, Jeff, I haven't met him yet. But we're going to have a great person to come out of that race. And Missouri is going to be a safe that we're going to win. It's a Republican state. I think Trump went from Trump one by 16 points or something. So they don't even have a candidate, so Claire mccaskill admitted they look, this is not a swing state anymore. Missouri is a Republican state. So I believe I believe we'll have a good can to come out of there and we'll win.
How Republicans Could Lose the Missouri Senate Seat
"Eric Erickson. Undermine big radio guy on news nation with our pal Leland last night, cut number 18. Eric, because you just have such a unique understanding of Republican politics, I want to get you on this. The Senate race in Missouri largely seen as a primary race between the attorney general there and the former governor there who had resigned in disgrace. His name's Eric brightons. Hugh Hewitt about his prominent of a Republican radio host as there is, president company excluded talk to president Trump earlier today about Brighton's take a listen. It's an endorse Eric greitens. That's a nightmare, mister president. We'll lose that seat. But that's Hugh Hewitt's opinion, not yours. Well, that's an interesting opinion. That's true. He's right now leading by quite a bit. I know, but we'll lose the seat. We will lose this. Okay. No people feel that. The president doesn't seem convinced, but it brings up this issue. How worried should Republicans be when they've got these great opportunities like the Latino poll that president Trump comes in and endorses primary candidates who have no chance of winning in the general? There's real worry. You've got Eric Schmidt near Greg and the battle of lyrics commented on now by Eric. And Schmidt is the attorney general. He's doing fairly well in the polls. Great and does well with the base because he's perceived to be victimized. He was hounded out of office while he was governor. But that's a problem because he Missouri does have a very independent minded base of voters headed into the general election. Eric is right. Look, I got nothing against right and except he melted down on this show and I asked him very straightforward questions. Eric crichton was about to be impeached because of his treatment of a woman in his basement who he found gag and according to her engagement unconscious intimate activity. He was wrongly prosecuted, I believe, by a craze left wing democratic prosecutor in St. Louis. But he just it's a disaster in a campaign. I know this stuff. I've been doing this a lot longer than almost anyone. If brightens at the nominee, in fact, Democrats will try and get right into be the nominee. I don't know who's gonna win. They're about 700 people on that. Eric Schmidt is tied with Eric greitens right now in the most reputable poll, but Billy long might get Donald Trump's endorsement. There are a couple other Congress people who are running. I'm just telling you Eric crichton's take a seat off the table. Democrats are going to control the Senate. They control the Senate. They can put anyone they want on the Supreme Court.
Missouri AG demands that local COVID mandates end
"Missouri's Missouri's Attorney Attorney General General is is warning warning municipal municipal officials officials that that he he will will take take legal legal action action against against them them if if they they enforce enforce Kobe Kobe and and safety safety measures measures local local school school districts districts and and health health departments departments in in Missouri Missouri have have been been sent sent a a letter letter from from the the Attorney Attorney General General ordering ordering them them to to immediately immediately stop stop enforcing enforcing or or even even publicizing publicizing public public health health directives directives like like mask mask mandates mandates and and quarantine quarantine orders orders adding adding that that they they don't don't have have the the authority authority to to enforce enforce them them under under state state law law A. A. G. G. Eric Eric Schmidt Schmidt cited cited a a ruling ruling from from a a judge judge last last month month who who declared declared health health orders orders issued issued by by local local authorities authorities are are now now null null and and void void Schmidt Schmidt says says failure failure to to follow follow the the court's court's judgment judgment may may result result in in enforcement enforcement action action I'm I'm Jackie Jackie Quinn Quinn
"eric schmidt" Discussed on Squawk Pod
"But their approach to this, I imagine it's going to be very different than ours, for example. Well, of course it is. And in fact, they've established a goal of being dominant in artificial intelligence by 2030. It's AI will be the basis of pretty much every industry that you talk about on squawk box. It's really important that American firms and the west be the leaders be the economic and structural and scientific leaders in this space. Can you imagine if all the companies that you talked about were in fact Chinese and not American made? That's the kind of stuff we're talking about the power of this technology. We spent a lot of time in our book talking about network platforms. One of the core things that we believe is important that global network platforms reflect American values, western values and not Chinese values. So we're in a competition. The interesting thing about the competition is that there's no discussion about what the rules of the competition should be. There's no diplomacy about what happens with cyber war. There's no diplomacy what happens with conflict that occurs so quickly that could be destabilizing. We go on and on about the societal implications that people have not thought about in our book, which is why I'm so excited about it. Eric, on the screen, I don't know if you can see it. We have a list of what used to be the FANG Stocks. I saw the column by Maureen dowd over the weekend, which was great that you've renamed it the Meng stocks, and we have met a platforms here and the reason I even raise it is because when you talk about building platforms, I'm curious about who you think controls all of this in the end, whether there are a bunch of a bunch of companies that do it separately or if it's going to be integrated in a way that it isn't today. Well, the genius of the American system is you have the government helping with early funding venture capital making these companies possible enormous capital available. These are multi $1 trillion corporations, which is incredible. And they're going to continue to grow. They're not going to get combined into one company or anything like that. And it's going to be difficult to regulate them because they're so they're so complicated in the way that they work. We got to come to some agreements on, for example, AI enabled war. What does it mean to allow for misinformation? What is the rule? One of the things that we didn't understand ten years ago was that governments would use the Internet to affect elections. That's clearly not okay. We did not understand that these AI enabled systems would become so good that they can target the particular biases of specific individuals and they can be used for misinformation. But we just here's the complicated part. The complicated part is a lot of tech executives including Mark Zuckerberg and others have said, please come regulate us. We can't do this on our own. We shouldn't be doing this on our own. But then when it comes to the actual moments of regulation, this is sort of like the tax debate. A lot of people say, please come tax me, but then the second, they actually have to tax them. It gets complicated quickly. How do you do it? Well, you have the problem when a company asks for regulation, you have the problem of regulatory capture, where the corporation can essentially capture the regulators and they can coexist. This field is so new, what we call for in the book is actually a renaissance of thinking about this. We've got to get the technical people talking to the philosophers and talking to the people who understand human psychology. These systems will change the way we live. Imagine, for example, a baby growing up that's got their best friend is not a human. It's a computer. How do you feel about that? How do you feel about the shaping of that young mind? That's an experiment we've never done. We're going to have to come up with mechanisms and collective agreement on how that should behave. The general answer in capitalist systems is competition. The problem is that these systems can compete in such a way that they will optimize against specific objectives. We want everyone to be happy or at least mostly happy. We don't want them to optimize around a specific thing, which is what's happening today, which is around engagement. While I have you here, I got to ask a couple of quick questions. I did mention meta before. I'm very curious about the rebranding of meta and your take on that, given that you lived through the rebranding, but also the reorganization, which I think is different in this case of Google to Alphabet. You know, it's funny that when you spend your time talking about a company about the founders and the organization instead of the products, that's always a loss. I look forward to excellent innovation in the metaverse. I've been waiting for about 30 years, the metaverse is a very interesting idea. It's essentially a virtual world that we would inhabit. As to whether Facebook will build that, I don't know, I guess I should call the meta. But I'm going to continue to call them Facebook. Everyone's talking called Google Google, which is I think how it really works. You know, it's interesting that meta means more comprehensive and transcendent. And so Facebook will now have to be more contra more comprehensive and transcendent what it does. The promise of the metaverse is very powerful. So if they pull it off, which will be presumably more than a decade, you can imagine virtual worlds that you'll live in. And that the world that you live in will be you'll be younger and more powerful and stronger and you'll have greater fun and all that kind of stuff. I wonder what happens when the metaverse is so powerful that you choose to live in the metaverse and not in the real world. That's another question we talk about in our book. If you're a regulator hearing about the metaverse for the first time, does this make you more inclined to think, okay, we've got to regulate these companies or less inclined. I mean, is this a shift here? I don't think that the conversation with regulate about regulation and metaverse is at the right time. People keep writing laws to regulate killer robots. Well, we're not building killer robots. We're building systems that everyone will coexist with, which are in some sense, much more powerful and much more dangerous. Because they'll be with you every day. We're going to have to figure it out. I don't think we know. I don't think regulators today have the right formulation for even how to discuss this. Eric Schmidt, the book is called the age of AI and.
"eric schmidt" Discussed on Squawk Pod
"Is that easy? Yeah, maybe the ports in California are getting a lot of the attention. Rightly so. I mean, those two ports LA Long Beach. That's 40% of it right there. But you look at Savannah, a lot of other places across the U.S. and you're seeing that. I've been on the ground at some of these ports. We've had a lot of virtual convenings as well. And I'm sure you'll get a good update from the executive director who I really enjoy working with. Look, the good news is we've been able to get to those 24 7 operations. We've seen some improvements in terms of the dwell time. The amount of times that containers are sitting there. But also it's very important to recognize just how many pieces there are in this chain. When you see a ship waiting out there offshore in Savannah or San Pedro bay or anywhere else. The issue that has the ship sitting out there may have nothing to do with the ship itself. It may have to do with the availability of trucks and truckers to get the containers out of the port. So there's room for the ship. It might have to do with the availability of chassis. In particular, we're looking at the trucking side of things because truckers, vectors, there's a really interesting post. I think it's leading on medium dot com right now buy a trucker. I don't agree with some of his pessimism about our 24 7 ops. But it gives you a really good picture of what truckers are up against, including how they're having their time wasted, which is why there will be new fines and fees introduced for shipping companies that just let their containers sit there. All of that's to say, it's very complex, but there's good progress being made. And you're going to continue to see that both on the administration side and on the ground with the ports. We're going to let you go. When I was a kid, I was either Joey or Joseph I was in trouble I was actually Joseph. Do you have a preference? What do you do? Is it Joe Joey or Joseph? You know, we're actually calling him Gus right now as middle name as August, but yeah. You know, that's not fair. That is not fair. That is not fair. So it's guston it's not Joe and Penelope then. Well, you know, we'll see what he grows into, but yeah, for now, for now, it's Gus. Joseph, we call him Gus. Thank you. The secretary seal it. Cheese will be next. Coming up on squawk pod, beware the machines, even the former Google CEO said so. Eric Schmidt on his new book and the new generation of artificial intelligence. The AI that we foresee will be much, much more powerful than what we're seeing right now. We're going to have a lot of people being manipulated in one way or the other, and that's not good. We'll be right back. Get in early. Join the CNBC investing club with Jim Cramer, be among the first. Get tips straight from Kramer, the only club with exclusive trading leads for early access symmetry email at CNBC dot com slash investing club. Standby Joe. You're listening to squawk pie. Is Mike Q? Good morning and welcome back to squawk box here on CNBC, live from the NASDAQ market site in Times Square. I'm Joe kernan along with Becky quick and Andrew Ross circum. And it's already Tuesday. Yes, it is. He's taken to keep telling myself that. It got to be cross eyed, though, because I hear it so often about all these eyes being everywhere. And I got to be on Virginia. All eyes are on Virginia. All eyes are on the fed, all eyes are either they're not. You gotta say that. You gotta be in a potato. They have lots of eyes. That's true. Or maybe a fly that's got all those they only have two, but they can look bizarre. Remember Jeff Goldblum? I do. The fly? Yeah, yeah. That's good. All right. Want to get straight to our next big guest. She's out with a new book today on artificial intelligence and how it will permanently change people's relationship with reality. It's an especially pertinent conversation given the recent one about Facebook's use of AI in both its intended and unintended consequences during this right now. First on CNBC, his former Google executive chairman and CEO Eric Schmidt is of course the cofounder of Schmidt futures and co author of the age of AI and our human future. Good morning to you, Eric. Congratulations on the book. I have to admit I'm confused, because I've read the book, and I can't tell in the end, I know you're an optimist. I know you're an optimist, but I can't tell if you really love this technology and think it's going to change our world for the better or if there's an underlying anxiety throughout the book about what's really happening here. Well, of course, the truth is both. And if you take a look at what AI is doing, the transformation in science, biology, sociology, the way we deal with information, it's extraordinary. But what happened 20 years ago is when I was working on this, we did not understand the implications in the technology industry of what this would do to society. And so the book is about what AI will do to society. Most of which is good, but some of which is very worrisome. So if you could actually let me ask you this way, then if you could go back in time, 20 years ago and now we're talking really about social media and the way the Internet exists today. What do you think you would have done differently? Well, the key thing that we now understand is that AI systems optimize against a specific objective function. Literally, they go for whatever you train them at for if you will. And if you look at what's going on, for example, social media, they're trying to maximize revenue, the best way to have revenue is to have more engagement that is more usage, more usage you get with more outrage, therefore you get more outrage. And the AI that we foresee will be much, much more powerful than what we're seeing right now. And so we're going to have a lot of this. We're going to have a lot of people being manipulated in one way or the other, and that's not good. How do we prevent that? Well, it starts with trying to figure out what the real problem is. And the real problem is that these systems are going to spend more and more time affecting the way our world looks to us. These systems are dynamic. They can not explain themselves. They are emergent in the sense that there's behaviors we don't expect. And they are still learning. And the book is about what happens when humans interact with that kind of intelligence. What we say in the book is that this new generation of AI over the next decade or two is going to be an ethical change in human experience because we've never had another intelligence that's human like that's not human. We'll be working with it, but we'll also get mad at it. We'll be worried about it. It will change things. It will change the way a child grows up. It'll change the way we do. Military strategy. How do we do defenses? How do we do war at the speed of milliseconds? These sorts of questions, no one's asking, we hope we have written the first book that will start a whole generation of people thinking about how to solve these problems. But do we need almost a global body? I don't know if we should use the word regulation, but to oversee this because you and I have often talked about the U.S. and China and I know there's a great fight going on over who's going to win that AI battle,.
"eric schmidt" Discussed on Squawk Pod
"No merit to that argument, either from mansion. Look, we have been laying out how we envision paying for this thing. Since the spring. And it's really clear fundamentally what it comes down to, which is tax fairness. And one of my favorite things about this package is as Americans hear how we are proposing to pay for it. Support goes up even higher than the almost ridiculously high level of support that this legislation has among the American people. Because they can see what the benefits of the bill will do for them. It's very easy for people to understand how their family would be impacted by pre-K free for three and four year olds. Right now the average family spends, I think 8600 bucks on that. That's very easy for Americans to compute what you would do with that $300 a month child tax credit. What it would be like in your life if you could knock off 12,500 bucks off the cost of an electric vehicle buy it and never have to worry about gas prices again. But I think also Americans are conscious of living in a tax system that just isn't very fair. Giant corporations making billions in profits were happy for them to be profitable, but paying zero in taxes. I mean, when a firefighter's paying more, not just in percentage terms, but literally in dollar terms than some of these giant corporations. You know something's off. We're working on that. There's this remarkable achievement of the global minimum tax. And a lot of other things going on that will offset that. So of course you get into the guts of it, the black and white, the text of the details, there's a lot to quibble over a lot to examine. But at the end of the day, the bill will by definition, is voted on as a concrete black and white document that every one of the members of the House and the Senate who has asked to support it has a chance to scrutinize and decide if they're for or against. Mister secretary, what did ask you about one component of this bill that has caused a lot of debate on our program, in fact, which is the plan to effectively advantage car manufacturers that use union labor over others that would include, of course, the teslas of the world and the Toyota is the world who's had an executive from Toyota on the program. By my math, it looks to me like Tesla employees and possibly Toyota employees in certain cases are being paid better than union employees at the other car manufacturers. So I'm trying to understand what the policy strategy is here. Well, look, we've said from the outset that we want to make sure we're creating more good paying American union jobs in this country. Now, when you look at the EV race, it's been clear for some time that electric is where industry is going. But what's not going to happen on its own is to happen a fast enough to beat the climate challenge. B happen on American soil as much as possible. And see where possible happen with good paid American union labor. So this tax incentive package is set up to promote all of those things. First the baseline, just getting more electric period. And that's the core of these incentives. And then, look, we love any time someone buys an electric car. But we're going to love it a little bit more when it's an American car made on American soil when it's an American company that's something the president cares strongly about, just like we believe that if some of these issues with supply, I think the question is why not made it home? I understand that made it home issue, but we're talking about automakers that are making them at home, some with union labor, some without, in some cases, there's been employees that are not part of the union who've actually decided on their own not to unionize because they actually think they're getting paid better and so what I'm trying to understand is why from a policy perspective you want to advance those over those other employees. And those companies or policy is that when workers have union protections, they are more secure, communities tend to be stronger. And as the president often says, unions built the middle class. So it's something we believe in. As you noted, it's not a requirement to get in on this incentive at all, but it does create some encouragement for that kind of work. I mean, look, I come from the industrial Midwest. I've seen what is possible when people can rely on that kind of support for their families, the social, as well, the social capital, as well as economic capital that's built up. I don't know if there's an apples to apples comparison across some of these firms any time a firm pays its employees well. That's good news and we welcome that. But I think we all know that there are certain protections that a lot of workers in the auto industry and other industries are going without that it's no accident that the gradual erosion of union support and participation since the 80s happened at the same time as an explosion of inequality and an increase in financial insecurity for the American working in middle classes. And this president has been extremely clear, including when he was running, right? He got elected president, largely on his promise that he was going to be a very pro worker president. And this is part of that. I wanted to ask you about what's been happening with airlines. I know there are almost 5000 incidences of unruly passenger reports that have been reported already this year. What's the highest number we've ever seen? There have been concerns from the airline attendance in particular who feel like they get kind of attacked every day when they show up for work or at least there's a potential for that happening. Over the weekend, you made some comments about sharing the no fly list, meaning if one airline has banned someone, you think all the airlines should be sharing that information and then jointly banning them from every airline. So this issue of unruly passengers is completely unacceptable. Let's start with that. I think we can all agree on that. In dangers, not just flight attendants, who is the captain always says when you're settling into your seat, they're there for your primarily for your safety. But it also endangers the entire traveling public. And so there can be no tolerance for that. Now, there are a lot of measures that we think are making a difference. Particularly encouraged to see prosecutors following up. We've seen some DOJ actions that make a big difference. The FAA is acting with fines and enhanced attention to this. But to get to your question, a lot of airlines now are looking at their own practice of banning certain passengers from flying again because they behaved in a way that's totally unacceptable. So now ideas are on the table about maybe making those interoperable. Is there a way for different airlines to be able to share information about problem passengers? They're obviously as a precedent in a very different context with national security for no fly lists. All of these ideas I think deserve to be on the table. I'm not favoring any one proposal. These are the exact kind of things that are easier said than done when you think about making sure that they're privacy and security concerns are looked after. But what we know is that we have reached an utterly unacceptable level of this kind of treatment of flight crews in the air. FAA is responding, prosecutors are responding airlines are responding, flight attendants and unions are responding. And if that's not enough to solve the problem, then we've got to get together and see what else we can do. Oh, I called you mayor Pete. I got a. I'll always answer to that. Okay, miss secretary. They port a Los Angeles. We're going to talk to the executive director. Can you update us on the current state of things in supply chain issues that you're dealing with? Have you been out there? Have you looked at I was on a plane and I did see a bunch of big ships outside Savannah, like 30 of them, just like anchored there..
"eric schmidt" Discussed on The Tim Ferriss Show
"The most interesting thing in your field? I would love to hear any examples of startups, bigger companies, academics, particular teams at universities, any one or any groups that stand out to you is doing very, very interesting things in the sphere of AI. There are two well-known examples in AGI. One is called DeepMind, which is in the UK, it's owned by Google. I've been heavily involved with them. And another one is OpenAI, which is the inventor of GPT-3. Which is a big partnership with Microsoft. Those two are probably the largest focuses in these new areas. The so called reinforcement learning, so called generative learning. And there are a couple of other labs. There's a series of university projects. I've been funding AI applied science in the leading universities and the AI science goes something like this. The physicists know how something works, but our computers can't calculate it. It's too complicated a calculation. But they can make an approximation. So often in science, a AI system is used to approximate something good enough so that we can understand how the system works. The most obvious area where this will play out will be in biology. Now they're Friends of mine said that math is to physics, what AI will be to biology. You needed math to understand how physics worked. You'll need AI to understand how biology works because it's so incredibly complicated. We still don't understand how to model a cell. We still don't understand how the brain is organized. There are so many basic things that you would think as humans we would want to know that have not been calculable for us. And that's where all the great discoveries will be. You know, I have to share something just because it's on this topic in a sense. I have a set of papers from the late Richard Feynman on which he drew the krebs cycle. And I just found that crossover, so to speak, so fascinating and we don't have to go deeply into Feynman, but certainly one of the people I've paid a lot of attention to. Biology is incredibly complex and I was thinking of the examples you've given and thinking of, say, protein folding or trying to identify receptors and the shapes of receptors or even structure and modify the shapes of receptors. The process as you've already said is so incredibly labor intensive and we've tried all sorts of things to try to pick up the slack using idle computers in a distributed fashion. But once you have AI as a player on the field, that could change things so fundamentally as you mentioned with that one example, I think Alison was the example that you mentioned. It's a big, big deal. I wonder how AI may augment natural prospecting since nature oftentimes the molecules that we identify in nature are just so beyond the wildest imaginations of anyone who would start from scratch with a ground up synthetic approach. It raises so many interesting questions. It's worth noting that there was a competition between two groups, one, a group called Rosetta at the University of Washington, and another one in DeepMind to develop proteins, protein folding algorithms. And this year both have reported their results in the open-source and they published how proteins the most common proteins that are part of biology fold. The reason this is important is the way that they fold determines the way they interact with other cells. And it is the basis, again of drug discovery, medicine, how our bodies work, genetic expression, and so forth. These proteins are super important. These are the kinds of discoveries that if they were done by humans, would merit Nobel Prizes. And this is happening right now. The way they do them is the same as I described, which is they generate many, many different candidates, and they evaluate them using AI and then they choose the one that has the best fit most optimal outcome. And then they release it. And then that technology will be used for the next ones and so forth. What do you hope the impact of this book will be? It's so all encompassing in some respects this topic. What is the hope with this book in terms of impact or what people will do or how they will change their assumptions or beliefs after being exposed to it? 20 years ago, when we started the Internet as you currently know it, the social media world, many of the other tools, no one debated what the impact on society would be. We were way busy building these systems to great success. Without understanding the impact. Artificial intelligence is much more powerful. Than any of the technologies up till now. Because as I mentioned, it's imprecise its emergent, it's learning and insightful. We need to understand how we're going to deal with these things ahead of their development. Over and over again, technologists build these technologies without understanding how they'll be used in misused. The goal of the book is to lay out the fundamental questions. The society has to decide around these emergent technologies. Which will happen and they will happen over the next 5 to ten years. If our book turns out to be the index case where, after reading this book and after its publication, people say, holy crap, I've got to get ahead of this. I've got to figure out a philosophy around this. I have to figure out a way where humans can coexist with these new systems. It doesn't dry humans crazy and makes the world better not worse. That's a great outcome from our book. The age of AI and what a powerhouse of the trio, the co authors involves its tremendously important and I'm thrilled that we've had a chance to deep dive into so many facets of this subject that has been of great interest to me, but has come along with great insecurity because I come at it from a perspective before we go. I must ask, how has it been to start your own podcast? I enjoyed it. It turns out to be harder than I thought. Because I actually had to prepare, and I had to get context and so forth. But if it's had enough of an impact that I will continue. Reimagine with Eric Schmidt you're an excellent conversationalist. I am continually impressed. I don't need to do much. That's the key to good interviewing is pick your subject. That's right, it's all about something. I think it's all about the it's a dual dual process. But I think it's worth it's worth thinking about in terms of what you and I do. You're a fan of Richard Feynman. When will there be a computer as smart as Richard Feynman? And the answer is a very long time from now. And so we always like to focus on the lawyers who will lose their jobs and the politicians who will lose their jobs, but that's not how it actually works. What really happens is AI is going to be used to eliminate repetitive.
"eric schmidt" Discussed on The Tim Ferriss Show
"I want to ask you, you mentioned what the philosophers might ask for in terms of augmentation or help you mention the biologists, the physicists. I am going to ask you, I'm just planting a seed what Eric Schmidt might use AI technology for in the future. But before I get there, I want to just look at a snapshot of current day. What are some of the coolest or most impressive things that you've seen AI figure out on its own? I mentioned this new drug and the new drug and drug discovery will accelerate combination of the mRNA achievements, plus the ability now to essentially replace the way the drug lab works, my sort of stereotype is the chemistry wakes up in the morning and says, let's try the following 7 compounds. They tried the 7 compounds, none of them work, and at 5 o'clock they go home to have dinner and think, watch television in the next morning they think of another 7. Well, the computer can do, as I mentioned, a 100 million in a day. That's a huge accelerant in what they're doing. I'm very interested in the development of humans. Together with AI systems. And the example I would offer is you have a two year old, and the two year old gets a plush toy. It happens to have AI inside of it. And by agreement, as this child ages every year, they get a better toy. And of course, the toy gets smarter. We don't know at all. What happens when a child's best friend is not a human? Or a dog? We don't know. What that does to the child's bonding to other children to their parents. I mean, you know frustrated parents and the kid is busy and they give them a computer and do whatever you want. But imagine if that computer is learning, talking, thinking, educating at the same time. It's a God sound, right? But what does it teach you? What does it teaching? What are its norms? What are its values? Will such a child end up being very salted with real humans and really comfortable with digital? We honestly just don't know. We know that people get attached to inanimate objects. There are many religions where inanimate objects have what we would think of as a bit of a soul. We mentioned this in the book. But we don't know. I'll give you another example with elderly. A lot of studies indicate that the elderly are very lonely. To sort of sad, and imagine if their best friend is a digital friend. What does that do? Does that extend their lives? Does it make him crankier? Does it make their loneliness more perverse? I don't think we know yet. Yeah, or is that digital friend and emulation of a relative? That's right. So now we get our grandmother as an example. We recreate her husband. And what does it do when she can chat with her husband who's now passed away? We honestly don't know. When I go through, and I look at these technologies, they're really four qualities in AI that are different. The first is it's imprecise. It's imprecise in that you can't tell you exactly what it's doing and it makes mistakes. Don't use it for life critical decisions. You want a human who can make mistakes, consulting a computer, you don't want the computer flying the airplane. And maybe never, but certainly not for a long time. It's dynamic in the sense that it's changing. It can learn. It can assess the situation around it and change its behavior. This is the AI now. It has emergent behavior. Emergent means things that come out that we don't expect. Strange things. Now, we've seen this a bit with social media. I don't think anyone expected the government interference in the elections in 2016. That was an emergent behavior was unexpected. By humanity using these tools. And those were not AI powered. The final point is it's capable of learning. So you've got a system using the child scenario. You've got a child that's got a teddy bear. It looks like a teddy bear, but it's imprecise dynamic emergent and capable of learning. What's the teddy bear learning? So the teddy bear is watching TV too. And the teddy bear says, look, I think this show sucks. And the kid says, I agree with you. Again, we don't understand the implication, especially on formative. Behaviors. There's a whole nother set of arguments about national security and how governments will work and how dominance games will play and who will be winners and losers from this technology that we don't really understand. And we talk about that. Well, let's actually touch on that for a second. And this is something on the minds of a lot of folks. Certainly I know a lot of investors who are trying to understand AI in the capacity of acting as an investor. I'm not saying we go there. But you have spoken to Congress about, say China's announced ambitions with AI ten to 15 years isn't that far away. It's really close and certain things move very slowly, certain facets of say government move quite slowly regulation. What types of corners are most important to look around and I'd love to hear you speak a little bit more about the geopolitical components. I was fortunate to be the chairman of an AI commission for Congress. We just released our report very proud of it. And we studied a lot about where the world is in AI, not so much on these AGI questions, but the more tactical things that I've been discussing. We concluded that the United States is slightly ahead of China in these areas that China has a national program to focus on this. They're pouring literally billions and billions of dollar equivalents into this. They generate four times more engineers as we do just because of population size. And they're extremely focused on dominance of AI by 2030, which is soon in our report. We speak a great deal about what the government needs to do to help. It starts with more research, access to more data, making sure our values are represented, so we don't end up with systems that have prejudice and so forth and violate both our laws as well as our morals. We talk about partnerships and all of this kind of stuff. The reason this is so important is that pretty much every national security issue will be tainted or controlled by AI in the future. If you're looking about cyberattacks, the most obvious war scenario in the future is the following North Korea decides to attack the United States it begins its attack. China decides this is a bad idea and blocks the attack. America's defenses are awake alert America announces a counterattack which stops this, the entire war that I just described took about ten milliseconds. Give you another example. In the military, there's a presumption of human control, which is very important. I was part of a team that wrote some of the AI ethics that are now used by the U.S. Military. Which I obviously strongly support. And they say we want the principle of human control human authorization. So let me give you an example. You're on a ship and a new kind of missile. Let's say, a very fast hypersonic missile is coming in, which people are developing. Countries are. And it's coming in so fast that the ship can't see it, the humans can't see it, but the AI has figured it out..
"eric schmidt" Discussed on The Blog of Author Tim Ferriss
"I want to ask you. You mentioned what the philosophers might ask for in terms of augmentation or help. You mentioned the biologists physicists. I am going to ask you just planting a seed. What eric schmidt might use i technology for in the future but before i get there i want to just look at a snapshot of current day. What are some of the coolest or most impressive things that you've seen a figure out on. Its own. I mentioned this. New drug and the new drug and drug discovery will accelerate combination of the marin a chievements plus the ability now to essentially replace the way the drug lab works. My sort of stereotype is the chemistry. Except in the morning and says let's try the following seven compounds. They tried the seven compounds. None of them work at five o'clock they go home to have dinner and think watch television and the next morning they think of another seven will the computer can do as i mentioned one hundred million in a day. That's a huge accelerate in what they're doing. I'm very interested in the development of humans together with a systems an example i would offer. Is you have two year old. And the two year old gets plush toy it happens to have inside of it and by agreement as this child ages every year they get a better toy and of course the toy gets smarter. We don't know at all what happens. When a child's best friend is not a human or dog. We don't know what that does to the child's bonding to other children to their parents in you know frustrated parents and the kid is busy and they give them a computer and do whatever you want but imagine if that computer is learning talking thinking educating the same time. It's a godsend right but what is what is it teaching water. It's norms whether it's values will such child end up being very stilted with real humans and really calm comfortable with digital. We honestly just don't know. We know that people get attached to inanimate objects there are many religions where inanimate objects have what we would think of as a bit of a soul. We mentioned this in the book. But we don't know give you another example with elderly. A lot of studies indicate that the elderly are very lonely..
"eric schmidt" Discussed on The Blog of Author Tim Ferriss
"Shaking now. What organism living this show metal. Hello boys and girls ladies and germs. This is tim ferriss. Welcome to another episode of the tim. Ferriss show my guest today. Is eric schmidt eric schmidt that's s. c. h. on twitter at eric schmidt is a technologist entrepreneur and philanthropist. He joined google in two thousand one helping. The company grow from a silicon valley startup to global technology leader. He served as chief executive officer and chairman from two thousand and one to two thousand eleven and as executive chairman and technical advisor thereafter under his leadership google dramatically skilled its infrastructure and diversified its product offerings while maintaining a culture of innovation in two thousand seventeen he cofounded schmidt futures a philanthropic initiative that bets early on exceptional people making the world better. He serves chair of the broad institute and formerly served as chair of the national security commission on artificial intelligence. He's the host of reimagined with eric schmidt. A podcast exploring how society can build a brighter future after the cove in nineteen pandemic with co-authors henry kissinger and daniel locker. Eric has a new book out titled the age of a and our human. You can find him again. On twitter at eric schmidt and at eric schmidt dot com eric. Welcome back to the show. Thank you. I really look forward to this conversation. looking forward to this. And i want to confess first and foremost that. I have tremendous insecurity around my lack of clarity on a so. I'm really looking forward to digging into many facets but before we get to that. I want to pick out henry kissinger. How did you come to collaborate with henry kissinger about twelve years ago. I met him at a conference called bilderberg and my father worked for the nixon administration. When i was very young and my father had henry as a hero he said he was the most brilliant hardest working and he was matic because he has both a very favorable reputation but also very controversial reputation so we chatted and he said the only problem. I have with google. is. I think that you're going.
"eric schmidt" Discussed on Venture Stories
"Most sectors have been fairly stagnant in. Okay and why is that. Do we've run out of new ways to use fossil fuels powerful machines so right hitting an asam. Tote in many other sectors attack is doing wonderfully well but it's not a big enough sector to boost. Gdp growth rates up to three percent. People who export isn't our gdp growth three percent at the moment at the moment of that's catch-up up every year. It's two point seven but if you think we boys out i'll take two point seven if we have the perfect labor market performance and a big fiscal stimulus and the best redoing is two point seven when say in the nineteen eighties. We had four percent. Maybe that's underwhelming. Well first place. The four percent could have been demographic rather than our current demographic. Maybe your reason why we've had wage also. Yeah so so. So a couple of things i i think. The sixty seventies and eighties had greater growth on average largely because of the demographic boom of world war two and the baby boom generation. We face the inverse going forward. So i'm really glad to look at an audience of people who will be working very hard to fund my retirement and there are so many people like me that you have to work even harder right and that drives a lot of the a lot of economics on productivity. It's wife example is systems will make you more productive not caused you to lose your jobs understand that now with respect to the middle class wages i would argue that in many cases of missed opportunities to apply technology to the industries so example would be that if we use technology to make cars faster cheaper more efficient so and so on they would cost less or easier to easier to manufacture. So i'm all about applying technology to non technology sectors to improve their productivity. I'm convinced that a small number of software people apply to each of these industries looking at how they operate redesigning business processes work will make a huge difference in the google has a set of businesses..
"eric schmidt" Discussed on Venture Stories
"People and glue people is my term for people who are very nice who sit between two functions and you don't need them but everyone likes them because they carry the person's bag write memos and so forth but you don't actually need them. They make the system less efficient right. If you will and he said is obvious. I said like what he said. We should just review all the offers so we began a process of reviewing all the offers to make sure that we were achieving the kind of special skills that we thought and we did this for until the company was many thousands of people. And you know the simple example. Is you get a big company and you get some ceo. I say well. And they're complaining. And i said well. How many people you hire this year. They go well kind of flat. That's not the question. I asked a typical. American company has turned over about ten percent. Sometimes it's higher if you have twenty thousand person company. You're hiring two thousand people. Plus or minus. Okay that's a lot of leverage over a few years in terms of the hiring pool and yet the ceo's are unwilling to go in and do the surgery necessary to bring in the kind of talent to lead them to wherever they're going into next generation will say a lot of money doing its own ipo in essence. Why don't more companies do this spotify diversion. But it's otherwise fairly rare. Well i'm not sure. I agree with you that we saved a lot more money because head. We negotiated on a traditional ipo. The same cost structure. My guess is we would have paid the same fees..
"eric schmidt" Discussed on Venture Stories
"And your gpa notch your experience and this caused all sorts of consternation but it produced people who were both young sense of inexperienced in in business it produced people that were aggressive and ignorant of what they were doing right so they didn't know what they were doing but they could make mistakes and our argument was that in a fast growing company. We need people who can pivot around. Whatever the new challenges and we weren't convinced that the people who had experience this is the newfield that experience would allow them to pivot into the new problems so it was a reasonable business. We did all sorts of things. My favorite example is that we would interview people to death so we interview this one gentleman sixteen times and we couldn't decide so i picked a random number which was half and i said we should only. We'd have a max of eight. We can't decide after eight. We have since done a statistical analysis in the answer. Today's four five interviews. What did he do wrong in the fifteenth interview. I just think it's cruel and companies can make mistakes because you're growing quickly the systems that you couldn't play can produce outlying effects that are not okay with other illegal inappropriate behaviors on individuals or just the company's mechanisms so again this is the benefit of being a computer scientists. You think of scale and mechanisms. I thought a lot about this. Many published accounts of google as you know they describe you as having been the adult in the room. Or the person who brought disciplined to google's bro sassi's but if you step out of your modest self for a moment and i'm trying to write a revisionist account of google heidel eric schmidt innovator and you were going to describe for me and say two or three minutes what you did personally. That was the most innovative. How you imposed your innovative stamp on the company. What would be your story of eric schmidt as innovator within google and not just the adult in the room well it's important to establish larry's hurry were the technological in strategic brilliant minds here and my job was to keep everything organized and i had an have a bunch of rules in my mind how you should run things so an example. Is you have a room. Full of people inevitably half the people. Talk half the people. Don't talk right and the women are more likely to be dominated by men so against in general terms so in of interruptions and so forth so which you want to do. Is you want to basically call on somebody. Not speaking typical scenario. You call on. The woman has said anything. She will inevitably give an extraordinarily interesting and thoughtful answer and then get people to respond to her and let her speak that kind of mechanism forces a leveling of the discussion and get everybody on the same table often companies if you see executives that don't manage to build the things that having so quickly they don't build common knowledge things go after rails. This market one thing sales are doing another another thing that we did is. We have this ankle twenty time which was a safety valve will allow people to work on things that they thought were interesting and that was your idea no. I was actually in circus idea. That i promoted eric. Schmidt is innovator. What was the bane innovation you brought to google..
"eric schmidt" Discussed on Venture Stories
"Well it's nice to see this team. Assembled and my investment is going to be very successful. It's an honor to be with you. Eric let's try doing a whirlwind tour of your career and life so between the ages ten twenty. What did you have is a form of intellectual experience. That helped to make you into eric schmidt. I want it to be an astronaut as all the boys of my age did because this was during the moon landing period. My father who you are the natural successor to i must say as an economist took us to italy and i grew up in italy as a boy and this is at a time when people didn't travel away they do today and so it was quite exotic to grow italian. I think that really changed me. So as an american. I've always thought americans were very very locally focused even today in the world you all live in. We're still to locally. Focusing on globally focused had an influence. You having a father. Who was a famous economist. He wrote on balance of payments crises. What did you draw from him. That ever all using so much so much economics google. What was interesting as i asked my father. If you're such a good economist why are we not rich. And his answer is lost to history. Give it time. I've a lot of respect for economics because people really do study these sort of platform that people build on and my personal success is largely. Be ben because i'm interested in network economics network platforms and pretty much..
Attorney General Eric Schmitt Jumps Into Missouri U.S. Senate Race
"Eric schmidt the current attorney general of missouri joins me attorney general. Smith how are you this morning. I'm doing great by the way that may be the greatest bumper music. Intro is had with that song. So i appreciate that. It is right that you praise me. You're lucky i didn't do joy division so we'll do great great great to be with you. That's terrific and of course as an alumni missouri. I lived in near parkfield. Kansas barfield near kansas city. When i was a kid i was young. Everyone in missouri so genuine and open and honest. I felt i had to go to california. Because i just didn't fit in but look you're running for senate there and tell us how that's going. It's going great. I mean we we announced senator blunt is is retiring and announce that in in early march. I believe and we came out of the gate and and made an announcement and We are first quarter. We had a record breaking fundraising quarter Sort of supporting missouri's than strong. I've won statewide a couple of times by some big margins. But i think more than anything. People are responding the idea. They wanna fighter in washington. Dc they want reinforcements to save america. And i been my record as attorney general. I mean we've been as active as anybody back into radical agenda. We were very active in supporting president trump. And the america first agenda so whatever the issue was election integrity pushing back on these this radical immigration policy that joe biden. This pursuing you led to this twenty one year surge. We've got an argument last week in texas on a very important case on the remaining mexico policy Pushing back on the social quote unquote social costs of greenhouse gases policy from do biden people in fighters and so we're pushing back on. Hr warmer pushing back on track. We spoke with pushing back on these days. It's all those sorts of things Because i do believe that if you look around feels like our country and our culture slipping away and you need people's understand who. We know who they are lifelong conservatives willing to go fight that good fife
3 Men Charged in Deadly 2018 Missouri Duck Boat Accident
"Three men face charges in a deadly duck boat accident on Missouri's table rock lake from twenty eighteen when a tourist duck boat sank on the Missouri lake during a severe thunderstorm seventeen people died federal charges against a boat captain and two other employees were dismissed now local authorities including those in stone county Missouri and the state are reviving the threat of long prison sentences with a total of sixty three felony charges Missouri Attorney General Eric Schmidt said is to hold the people allegedly responsible for the deaths accountable in an affidavit highway patrol sergeant mark green said the captain failed to exercise his duties by going on to the lake with the boat with a severe thunderstorm warning in effect the captain Kenneth Scott McKee aces seventeen charges of first degree involuntary manslaughter and twelve additional charges that he endangered child passengers on the boat five of whom died I'm Jennifer king
Missouri owners of girls boarding school charged with abuse
"Sense of criminal charges filed in Missouri against the owners of a former boarding school void, and Stephanie Householder face more than 100. Criminal charges combined, including statutory rape, statutory sodomy and abuse and neglect of a child. Authorities in Cedar County began investigating the circle of Hope Girls Ranch after former residents made the allegations on social media. The householders closed the reform school shortly after investigators were moved about two dozen girls from the ranch in August. Missouri Attorney General Eric Schmidt as the father of two young girls. It is simply unthinkable to me. But this type of behavior and abuse could be perpetrated. Against those who are still vulnerable. The householders in a newspaper interview, described the girls as liars and disgruntled former residents who have not been successful
Microsoft announces passwordless authentication in Azure
"Microsoft announced his end to end encryption support for teams plus password list loggins microsoft announced that it is adding end to end encryption support to microsoft teams later this year at its ignite conference yesterday. It stated that preview of end to end encryption teams will be available in the first half of this year for commercial customers it will be available for one to one unscheduled teams calls and is designed for more sensitive conversations. This is something that its main competitor. Slack does not currently have microsoft also announced that it is making password list lugging a standard feature for as your active directory. A cloud based service customers can use to handle their employees logging chores. Us unprepared for a competition with china. Commission finds a comprehensive report released this week by the national security commission on artificial intelligence states that white house leadership and a substantial investment will both be needed to ensure us superiority in artificial intelligence by twenty twenty five commission. Chair and former. Google chief executive eric schmidt said he believes china is catching the. Us up on a initiatives proposed by the commission include the creation of technology competitive council within the white house to be chaired by the vice president. A steering committee on emerging technology within the defense department to coordinate an advance implementation of technology and d creation of an accredited degree granting digital services academy to help build a pipeline of civil service tech tyrant. Tom cruise deepfake videos rattled security. Experts three mysterious deepfake videos of tom cruise. That have gone. viral on. Tiktok are the handiwork of chris. Ume a video visual effects specialist from belgium. The videos have drawn attention from experts and non experts alike for being among the most convincing. Examples of the genre of fake videos yet produced deepfakes created using artificial intelligence that uses a technique to train to neural networks in tandem to either create or identify facial imagery while some technologists security experts. Fear deepfakes will become a potent weapon for political disinformation. Chris downplays such concerns saying quote consumers. Just need to become more skeptical of what they see and quote carmen. Ransomware makes it easy and cheap to launch attacks. A new ransomware. Do it yourself. Kit called carmen k. A. r. m. e. n. Is making it easy. For one of these cybercriminals to launch ransomware attacks packaged with small loader and also small in size it can detect if it is operating in a sandbox environments and can automatically delete portions of its code to prevent security researchers from analyzing it carmen scrambled files with eighty s. Two fifty six bit encryption and operates with minimal connections to its command and control server as a ransomware as a service product. Carmen automates many processes including payment processing so users can concentrate on distributing the rent somewhere at one hundred and seventy five dollars. Carmen lowers the barrier to entry to the ransomware market.