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tv   Bloomberg Business Week  Bloomberg  June 11, 2017 4:00pm-5:01pm EDT

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carol: welcome to "bloomberg businessweek." i'm carol massar. oliver: and i am oliver renick. we go inside resilient construction giant, -- braz illian construction giant. on ahead on "bloomberg businessweek." carol: we are here with the editor-in-chief of "bloomberg businessweek." garrett is a legendary
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financier and the head of colony capital that he is also known as being one of president trump's most prominent advisors. he was consistently during the campaign one of his most public circuit in making when i would call the economic case for -- what was and the a great opportunity last night was it was the first opportunity to take his temperature of what he thinks he does best of what he thinks he has done as president. he views of the trump presidency at the disruptive in the way that uber or amazon is to a corporate world.
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>> that was the first time i heard that phrase. he was referring to how he conducted social media strategy as well. we talked about this use of tweets. there are many of us who cover the campaign who expected him to stop that. we've seen exactly the opposite. in the last few weeks we have had tweets about the terror attacks in london and we seen his tweets about saudi arabia and diplomatic tensions in the middle east and i think i really wanted to hear what top have to say about that -- what tom had to say about that but he said donald trump has harnessed social media in a way no other public figure or company has been able to do. that is at the heart of his effectiveness. through the chaos he will chip away at the establishment.
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the establishment no longer serves the american people and the period of chaos we are going through right now, there is a method to the madness and he is people'soding elite ties into the establishment. at the end of this process the president will be able to come through and making happen as a result. that is certainly the argument that tom was saying. oliver: let's look at the cover story. an amazing story about corruption in brazil. this long-running scandal known as carwash. and threen in bribes point --3.3 billion in profits.
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they carry this off through years and decades. we went behind and stripped it all back and show you how it began and how it all ended now. carol: so many great details in the story. is the biggest construction engineering firm and not america. -- in latin america. it grew on the back of paying bribes all over the americas and into africa in order to get deals on contracts. >> was it just a party doing business? how did it get to the point where bribery was such a part of doing business? the heads ofse all the company have been arrested and they describe a history of the company where this was the
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way business was it done. in order to get contracts for government work in brazil, you have to spread money to the politicians and fund their campaigns. at least that's what they say. culture ofart of a oderbrecht in order to get the government deals and other construction companies. >> did they have to do bribes to get those contracts? without it with they not have gotten the business? >> that is what they say. culture, itf the always probably has been and the point is that they pay bribes but what they got in return work massive profits --return were massive profits. the contracts they got were way overvalued and it cost of the brazilian people in the country
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-- it cost the brazilian people in the country. company,ve for the positive for the political figures but people are losing out because all of these costs get way inflated. settled corruption charges in the united states because they had operations here. in that settlement they admitted to paying $780 million in bribes in latin america and even into africa. in exchange they received business that delivered over $3.4 billion in profits. gotsting in bribes they massive profits and the people who pay are the people in these pretty poor countries.
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that was money that could be used for more positive things. carol: it looks like the money went all the way up in terms of the political structure. this bribery money they brought can pay for various presidents. >> a half-dozen presidents in then america, four or five, executive of oderbrecht claimed they were bankrolling campaigns under the table and paying bribes to people under the president. they say they put the money up to get a lot of people elected and once those people were elected they got a lot of contracts out of that. it was a calculated strategy that paid off. sarol: turning oderbrecht' machine into a cover photo was the job of greg park.
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how do you choose such a dynamic story -- cover? >> we had to come up with a concept. basically there is this iconography involved with bribery which is like money in it along with -- money in a yellow envelope. we took that approach. carol: is it an actual manila envelope? >> yes, we went to staples. we splurge. oney so it have the silhouette. the silhouette. oliver: this communicates very quickly what the story is about.
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>> exactly. it is a neat thing to play with the entire cover. the thing is a shape -- is the shape of an envelope. we like to have fun with the way we do covers. we want to add that information so people know the story. next, the two arab leaders behind the 14 of qatari -- 14 of qatar. oliver: this is "bloomberg businessweek."
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carol: welcome back to "bloomberg businessweek." oliver: in the politics and policy section, the coordinated effort between saudi arabia,
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bahrain and others shocked qatar this week. >> we got a blockade, the cutting of diplomatic ties to qatar by a handful of its persian gulf neighbors. this is a relationship that has been fraught for years. the pattern --qatar is a small, wealthy country. a have the highest per capita wealth in the world. they are sitting on the cheapest, most abundant reserves of natural gas in the world. a big exporter of natural gas. they did not start producing and exporting until the mid-90's and until then they were a vassal but in thee saudi's next two decades they have established enough wealth and
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autonomy to start walking on their own and develop a foreign-policy strategy that is not something that the saudi's and the egyptians are fans of, particularly their cozying up to the iranians. lot, as thereis a is with any situation in the middle east. i want to try to boil it down. there is the financial capability that qatar now have. -- now has. there is deep-seated religious differences between sunni and shia. one of the most important relationships is the relationship between saudi arabia's crown prince and the head of the uae. >> the statement that was put out announcing this blockade was
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not signed yet gulf experts see the fingerprints of two people, namely be very powerful deputy then prince of saudi and diffractive head of state of the uae -- de facto head of state of the uae. took over theon throne and named his son as the uae, --rown prince, and they have formed a pretty close relationship and they have economic and political interests that align around combating extremism, mainly shiite a --mism which they see as
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these are two entirely oil dependent economies. they have economic interests that align and that is important as we have seen oil prices plummet. carol: your treasury department has a lot -- the u.s. treasury department has a lot on its plate. treasury secretary steven mnuchin has a lot of things on his plate. >> the white house economic which, which magician -- steve mnuchin plays a big role tax code,ul the overhaul the obama era tax he has a casket
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to invest in infrastructure programs across the country. all this is meant to boost growth. he says it will take about two years to get to the 3% growth figure. officials have worked very hard just to get to 2%. jumping to 3% or above is a challenge. oliver: sounds like secretary --ivation could use some secretary steve mnuchin could use some help. >> the white house needs to hear theend coherent messages so republican legislatures -- legislators can know what to do. , lot of former administrations both republican and democratic
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have relied on counselors for treasury but there are supposed to be under secretaries overseeing each of the three main units of treasury, domestic finance, international affairs and terrorism and finance. those are not filled and one has not been nominated. compared to the obama administration, trump is behind on the treasury department. you could say the same for shmparisons it to the w. bu administration. it is taken almost twice as long to get people through compared to bush. carol: what happened to donovan? >> he dropped out, he cited family reasons. jim donovan, a goldman sachs
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banker, was a shouldering a lot of the management responsibilities that come with treasury secretary. he had done a lot of the interviews for senior level low-level and mid-level staff members and now those people do ir jobow whether the offer or impending job offer still holds. oliver: up next, how companies from cisco to microsoft are relying on shoppers with pieces. -- visas. ♪
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♪ oliver: welcome back to "bloomberg businessweek." carol: you can also listen to us on the radio on sirius xm channel 119 and in new york and boston.
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also in the bay area. oliver: and in london. carol: in the technology section, many h-1b these visacations -- applications are not going to high level positions. visa program creates a limited number of the says to to bringof visa workers with special skills into the country for a three-year period. you see the outsourcing industry used to bring in lower-level computer programmers at lower levels of pay and this is what people's are urged by with the program. >> specialized workforce and out
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the specialized -- it is not a new thing but is proliferated to the tech space recently. programs, it has been a around for several decades. it is something set up for technical skills and silicon valley is one of the heaviest users of it because they need specialized engineers. carol: a company like cisco, it allows them to do what? >> what you will see cisco say masters levelhire computer programmers and we cannot find enough coming out of american universities so let us -- let'se from foreign bring some foreign-born engineers to work because of these jobs will go unfilled. carol: that is a specialty skill.
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but it is beyond, they are using it for workers who do not have specialty skills? >> what is the new here is that we have always known that there are companies, mostly companies from india that are getting a lot of visas to hire modestly skilled tech workers to do office work. -- they do not make a lot of money by silicon valley standards. these companies have become the villains of the h1b program in many people's eyes because they are taking on jobs that will go 's or whatever. cisco is contracting with the same companies to bring those same workers onto their headquarters to do the lower-level computer work. oliver: this is where the value of the story comes because this
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is something that has been in the spotlight, it has been a tool going back and forth throughout the election. donald trump has targeted it. tell us where this came from because people suspected this has been happening but the degree to which you guys have quantified it is new -- is nw. >> people who work in silicon valley is because they are at these companies but it has been hard to tell how much it goes on. awas contacted by basically hobbyist data analyst from south carolina. he works for an i.t. company but he found this way to crunch the numbers. was that each h1b
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visa application the department of labor listed this is where this person will work and he worked -- and he wrote software that's great the website and rapes thewn -- that sc website and take applications and sorts them by the address. these are contractors who are working for microsoft. dropbox ceo drew houston talks about the company dealing with competition coming from amazon and google. for a and its potential ipo. >> john fox originally -- dropbox allows you to store your items in the cloud and it was popular.
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they gave it away for free and then he could pay extra money to make a pro version. google, amazon, microsoft, everybody not this service off thishe -- knocked service off. , which had this great funnel to get new users, it is disrupted by the fact that google or apple says we will throw in free storage with your gmail and they will encourage users to do that and that is what happened to dropbox. carol: google and microsoft have a lot of work for customers -- a lot of corporate customers. >> there are people who pay $100 a year to get filed in the cloud and been -- and for the most
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part it is companies. companies of that already know how to get into those, those companies have a big leg up. servicenother dropbox focused exclusively on selling to companies, that went public. they are getting squeezed on the small and and the -- small end and the big end. they have a lot of committed users who started using it informally and convince the -- buy.nced them to are in thisothers category of consumers going
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towards enterprise. up next, russia and china moving back into america's backyard. ♪
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oliver: welcome back to "bloomberg businessweek." carol: still in this issue, what may have been a key reason for president trump pulling the u.s. out of the paris climate accord. oliver: the future of entertainment according to buzzfeed. carol: and lessons from some of the world's most influential ceos. oliver: all that ahead, on "bloomberg businessweek." ♪ oliver: we're back with "bloomberg businessweek" editor-in-chief megan murray. let's start in the global economics section. really interesting story about this resurgence of russia, china, some of these powers dabbling in the caribbean.
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.tell us about those. megan: this is something that is one of those geopolitical shifts which tells a much broader story of the climate we are in. as the u.s. refocuses its foreign policy, and more being directed inwards toward the u.s. and u.s. interests, countries like russia, china, are really looking at places like nicaragua, cuba, in that caribbean area, as a place where they can solidify their economic power and political power. let's take those interns. with china, this is a lot about their economic interests. it is not dissimilar to what they have done in africa and other parts of the world, flexing their muscles to countries that need their access to resources to really build an economic power to them. on russia's side, it is a little bit more poking and trying to establish a little bit of a power base that is really close to our shores, and that sort of tension is going to be fascinating to watch, given how quickly some of those countries are trying to move forward.
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and their ambitions. carol: the u.s. is creating these opportunities. megan: absolutely, in the sense of our long-standing issues with cuba. obviously, we lifted the embargo and sanctions, but it is going to take an incredibly long time for cuba to recover, to make steps forward with its economy, and other countries are sniffing that opportunity there as well. one thing donald trump has done is refocus our foreign policy. he has been very clear that he is going to protect u.s. interests first. when you say publicly you are going to protect u.s. interests first, other countries are going to look at the vacuum that creates in other areas. for china in particular, creating this as another potential economic outreach for them is a significant move. carol: let's talk about the ongoing repercussions from president trump pulling out of the paris climate accord. the green fund, you guys dig into this. and the implications of us not supporting it. megan: this goes hand-in-hand with what we were just discussing in terms of, when you refocus your ambitions outside of the u.s., it is going to have an effect. the green fund has been used to give developing countries, the countries scientists think are going to be the most hard-hit by
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the changing climate, to encourage both them to invest in projects that will make their climates more sustainable, to reduce their emissions, as well as to force wealthier countries to give developed countries money to fund those kinds of projects. in theory, it benefits us all in reducing emissions and holding everyone accountable for the world we live in. our retreat, and his signal that we will no longer contribute to it, is certainly going to have effects and who scientists say are going to be the hardest hit by climate exchange. oliver: finally, a really interesting story on buzzfeed. they are branching out into all kinds of stuff. carol: you know you read these lists. [laughter] you know you watch the videos. megan: it is a wacky story. there is one they did with wrapping a balloon in papier-mache, when it is going to explode?
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we love experimentation at "businessweek." i am thrilled to see big media players taking a chance on upstart projects in video. there is no question they have their fingers on something, because millions of people are watching their videos, and this is a story that delves into the business behind crazy videos we are watching. carol: the wacky and business world of buzzfeed. we get more from gerry smith. reporter: buzzfeed is really one of the digital media darlings. i mean, they have really figured out how the internet works. their content is everywhere, they have a news operation, they produce a lot of video, and they are really good at distributing it on social media. facebook, youtube, snapchat, instagram. carol: those lists. gerry: they are known for their lists, their quizzes. these tasty videos, which are these sped-up recipe videos. they're everywhere on facebook. they are really an internet juggernaut.
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oliver: ceo jonah peretti has been there since the get-go. this is a company that has evolved quite a bit in terms of the content on its website. i remember when buzzfeed was shifting and hiring financial reporters to build out a business reporting part of the website, and that was a big deal. that is still there, but it seems like their focus has shifted much more. even in this story, we get about halfway before we start talking about news. this company looks very different than it did a couple of years ago i feel like. gerry: buzzfeed is 11 years old now, and just like a lot of digital media companies, they have shifted towards online video. what buzzfeed and a lot of online media companies realize now is that there is even more money if you take the online video and figure out a way to turn it into a 23-minute television show, or a two-hour movie. a lot of people talk about cord-cutting, and how tv is dead, but there is still an enormous amount of money in television advertising. that is what buzzfeed is going
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for. carol: in your story, you talk about the buzzfeed ceo, this convergence. right? kind of like old and new media, working back-and-forth. gerry: that is right. buzzfeed has received $400 million in investment from nbc-universal. nbc has also invested $200 million in vox media. we saw disney invest in maker studios. there has been this old media/new media romance going on a few years now, and buzzfeed is very much at the center of it. oliver: the millennials group right now, and in general, always the 18 to 34's, a very prized, targeted range for advertisers. as other companies decide how to shift their material for that group, i feel like buzzfeed is uniquely positioned, because they are the group. i do not think there is any debating that jonah peretti is a very smart guy, and is obviously leading the front on this. but when you talk about the story about what the office looks like, it does sound just like a bunch of millennials run wild.
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kind of letting them do what they want. they had studios set up where they are playing games. carol: you went there, what was it like? gerry: i took a tour of their studio, and behind each door, it is like a willy wonka factory. you go behind one door, and there is two male employees who shake hands and start tickling each other. there is people filming that. there is people eating fried chicken, and all of a sudden they get surprised with a live, clucking chicken. this is very much buzzfeed's dna, just wacky, crazy, a little silly. but a lot of that stuff works really well on the internet. the question now is, do any of these sorts of ideas, can they be developed into television? oliver: up next, how israeli tv producers have become heavy hitters in exporting shows. carol: and europe's most famous singing competition, and what it tells us about the future of the continent. oliver: this is bloomberg. ♪
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♪ oliver: welcome back to "bloomberg businessweek." i am oliver renick. carol: and i am carol massar. in the companies and industries section, israeli tv networks have been successfully exporting concepts for shows. oliver: and now they want to start selling their productions across the globe. this is a very cool story about entertainment, and the influences that have changed israeli television. tell us about what is happening there right now. ethan: it is interesting, because israeli tv was like a lot of stuff in israel, not especially great for much of its history. it was kind of slapsticky and not very serious. and in the last 10 or 20 years, there has been a lot of changes in israel. first of all, there has been an increase in the digital parts of the economy, and it has spread to tv. what we are seeing here is, production houses doing very sophisticated shows, and they
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are being exported. originally, they were exported as ideas, so "homeland" is a classic example. it was done for israeli tv, and then they made a version in this country, which has been a huge success. carol: a favorite show of mine. ethan: an excellent show. carol: really well done. but it is interesting, that show in particular, i feel like, drew attention to what is going on in israel in terms of programming. and we are starting to see more come out. ethan: what is happening now is, in addition to "homeland"-like things happening, the current sort of hit, although not on the level of "homeland," is "fauda," which is an arabic word, which means chaos, and it is about an undercover israeli unit going after a hamas terrorist killer in the west bank. what is interesting about "fauda" is that it has been simply bought whole by netflix, and is shown here and around the world, where netflix can be seen in hebrew and arabic with subtitles. so unlike "homeland," which became an american-style thing,
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that is going on now more and more, shows that are a pure, local content are being made available abroad, and israel has become a factory of high-quality content. oliver: it seems that content is also very thematically geared towards the region as well. you point out that there are a few things that are very sort of mainstream. i feel like a lot of them do center around conflict, terrorism, spies. what is really interesting is "fauda" right now, which is basically a show that tackles both sides of the israeli-palestinian conflict, is this content that people want to watch, and that is what makes it successful? is it about the way this executed in terms of production value or are these things that everybody can relate to and watch? ethan: to some extent, nobody really knows the answer to that. what is interesting is that the company that made "fauda," which is called yes, when it was first proposed to them, they said, nobody in israel wants to watch a program about the conflict.
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the conflict is not a particularly popular issue in israel. carol: and they are living it. ethan: to some extent, it is sort of walled off from them, what goes on in the west bank. they live their lives, and that is a more complicated political discussion. they are not especially focused on it, and the idea was that nobody really wants to watch a show about it. and it turned out to be the most-watched show in yes's history, which the about 50 -- 15 years of making shows. oliver: speaking of television shows, eurovision draws more viewers than the super bowl. carol: and the european singing contest does more for the continent than crown the winner. here is reporter thomas rogers. thomas: eurovision is a song competition that is been around for just over 60 years. it started in 1956, organized by european investors, with the goal of fostering european unity and spreading broadcasting technology. since then, it has become the largest, the most-watched non-sporting event in the world. about 200 million people watch it every year.
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oliver: wow. there are a ton of people turning into this. the unity part is what i am curious about, as there are a lot of vivid descriptions. you do a good job in the story, making it feel like i had watched this thing. even though i had not really heard about it. you have crazy costumes, crazy songs. where does the unity aspect come from? tell us about the historical background of this thing. thomas: it is a competition. each of the countries are hoping to win ultimately, but it is sort of sheathed in this european unity ideal. every year, they have a slogan. this year, it was "celebrate diversity." before it has been "we are one," things like that. they very much sell it as a celebration of european identity, as opposed to one of national identity. but of course, national politics and geopolitical considerations always end up playing a role, so
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you see this really interesting tension between an event that supposedly celebrates european unity, but there are these national forces that tug it in different directions. carol: what is interesting, too, you include that it is the largest-non-sporting event in the world. at watched -- outwatched only by the olympics. and the world cup. you do say, it gets political, and even sometimes predicts geopolitical shifts. tell us specifically what you mean by that. thomas: some of the dynamics that ended up feeding the brexit vote in the u.k. were in evidence in eurovision for a long time. the u.k. has often complained that continental countries, countries on the european continent, tend to vote for their neighbor countries, and that because the u.k. is an island, they are at a disadvantage. so there have been right-wing tabloids in the u.k. that called for the country to leave eurovision as early as 2008. turkey left the contest in 2013, which many saw as a kind of preview of its move away from europe and towards a more
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authoritarian, autocratic political system. then, germany has done very badly the last few years, and many people see that as a reflection of european anger about austerity policies. oliver: it is interesting to think about doing badly in an "american idol"-type contest. but there is a lot of weight put into this. where does this leave us now, because you kind of hint at this, what i think is very interesting, this is supposed to be about unity, identity, that is not always the way. but if you look at the geopolitical landscape right now, this is a time that is particularly nationalistic, where people are having tendencies to support their own countries, their own ideals. is it bleeding into the event in the most recent instance? thomas: this year's contest was partly overshadowed by the conflict between ukraine and russia.
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this year, the contest took place kiev, the capital of ukraine, which as you know, is at war with russia at the moment. russia is very interested in winning the contest, so they have done a number of things that parallel other strategies. geopolitically, the kremlin has been actively spreading false news about eurovision. they also sent a singer who was legally banned from entering ukraine, because she had performed in crimea shortly after the russian annexation. ukraine ended up ultimately not allowing the singer into the country, and therefore, russia did not take part in this year's eurovision, which caused a ruckus. oliver: coming up, the wild corporate party that fueled the dating app badoo. carol: and some major execs share the secrets of their success with "bloomberg businessweek." ♪
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♪ carol: welcome back to "bloomberg businessweek." i am carol massar. oliver: i am oliver renick. you can catch us on the radio on sirius xm channel 119. a.m. 1200 in boston, 99.1 fm in washington, d.c., and a.m. 960 in the bay area. carol: and in asia on the bloomberg radio plus app. in the technology section, badoo is known as a tinder-style dating app. oliver: it is also known for the company's super-sexualized parties in london. here is our editor. tell us how this app differs from the rest in the market. jeff: it is an app with about 60 million regular users, most prominently in russia. back home, at their headquarters in london, mostly what they are known for is ridiculous parties. oliver: corporate parties.
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jeff: yes, they are internal parties, for the most part, but they are also used for the company as a recruiting tool, headhunters and people who work for the company. carol: define ridiculous. oliver: don't hold back, jeff. jeff: what has come out, talking to a lot of former and current employees there, is that it is pretty common for the parties to be pretty overtly sexualized, and typically towards one direction. a common trope is for there to be half-naked women dressed as mermaids or in police or carnival costumes, or being, nearly nude models being used as sushi platters with food being eaten off them. carol: your typical corporate party. [laughter] oliver: i don't know what question to pose after that.
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i am distracted. carol: what is the thinking behind doing these parties in this way? i know oliver is thinking this is the most interesting story, but why this approach? jeff: the ceo told reporters that the thinking is basically just to reward staffers, many of whom are young russian men, away from home for the first time, who are working hard on the app. what we heard from headhunters and people who have worked and currently work for the company, is mostly that it is used as something of a recruiting tool. it helps the app compete for talent with some better offers from people like facebook and google. carol: how do the women feel that work there? jeff: over the past year, these parties were happening about once a week at the end of 2015, on the order of $25,000 to $45,000. they were cut down to about once a month, and according to our reporting, the reason for that is that a series of complaints were levied at hr, mostly by women, who tended to leave the company afterwards. oliver: there is a lot of questions i have here about the money, the sort of trend that they are putting themselves in, the spotlight they are putting themselves in by doing this. let's start with the latter part
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because there have been a lot of high-profile sexual-harassment cases in tech companies. there have been instances within companies of these dating apps. i mean, there was a conflict between tinder and one of its co-founders, a female co-founder, who then left to start bumble, which is now partly owned by the folks at badoo. there is a lot of interesting things happening. you have also heard about uber announcing they laid off off employees due to sexual harassment claims. the people at badoo, it seems like they are playing with fire here. jeff: a really curious thing about this story here is at a time when at least some silicon valley firms are feeling chastened about their typically
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retrograde attitudes towards women, and trying to make at least publicly good-faith efforts to change things, this is a company that is very much kind of leaning into a boys'-club notion. oliver: in the etc. section, a compilation of all the life lessons taken from the "how did i get here?" page. carol: you had one reporter in particular who has often talked to the ceos about how they got to that top spot. reporter: our back page is called "how did i get here?" we have done more than 100 of these pages, interviewing more than 100 chief executives, and have walked away with a lot of wisdom having done that. the first thing she says is, basically, rule number one is, getting time with these people is really hard. you have assistants whose job it
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is to make sure you do not get on the calendar, and then people like publicists who want you on the calendar, but do not want you on the calendar for six months, and then it is at 8:14 a.m., and then they cancel on you the day before. oliver: so when you guys have this in the back of the magazine, there are a lot of people that say we want to get in the magazine. how did you guys decide which ceos you wanted to interview? was it about availability, or did you try to find people in offbeat industries, or up-and-coming individuals? bret: we wanted a mix. part of this is getting names on this page you are going to recognize. one we did recently was papa john schnatter, a fascinating story. we did guy fieri, one of my personal favorites. oliver: flavor town. carol: a fun guy. bret: you are looking for a mix, but you are also looking for people who are not necessarily ceos in the traditional sense, sitting in a corner office. you're looking for people who got their hands dirty, and some of the people we interviewed who had the best stories were chefs. klaus meyer, for example, these are culinary entrepreneurs. they have wonderful stories of passed-out chefs on opening night. we love talking to comedians. we talked to margaret cho, marc maron. why? because they're funny.
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[laughter] carol: i bet. is there anything she came away with? she talked to men ceos, women ceos. anything she came away with on how to get to be a ceo? bret: rule number one, you have to wake up really early. anyone can be a ceo, as long as you're willing to basically get up, if you like getting up at 3:00 a.m., you're are probably primed to be a ceo. many of them do their best work between 3:00 and 6:00. what she did find is that basically a lot of the people who are ceos today have been working for 30 years, knew smart, driven, motivated people who one day picked up the phone and said, i have known you for 30 years, i trust you, do you want to be ceo of my company? oliver: it is interesting. you hear a lot about the maneuvering that has to go on, and i think it is played up a lot in the corporate hierarchy, but at the end of the day, her honest takeaway was, just wait and surround yourselves with good people, which seems to be advice consistent among all the ceos. bret: that is right. stick it out, persevere, make friends. this is one of the rules she found in talking to people.
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you cannot do this alone. you are never going to get to the top without making a ton of friends, so all the people really in the corner offices have done a really good job of that. carol: "bloomberg businessweek" is available on newsstands now. oliver: and also online at bloomberg.com. lots of good stories in this issue. where you able to pick your favorite? carol: it was the global economics story having to do with moscow and china moving into cuba, emerging nations, the caribbean nations. china is doing it for economic reasons. for russia, it may be a little more politically motivated. but this is happening as the u.s. steps back. how about you? oliver: i am going to go with joshua brustein's look at the h-1b visa program. they have been doing a great job covering it, a very heated political debate. there is some excellent data-mining here. they were able to go back, and figure what it is being used for.
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it makes the situation a lot more nuanced. more bloomberg television starts right now. ♪
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♪ britain pulls -- ghost the polls again. the mourad patrick harker coming. and high drama continues on capitol hill. >> i do not think it is for me to say on whether the effort that conversation i had was to instruct. >> this is, not a serious investigation. >> the mom part starship ceo tim cook -- exclusive insight into the company's strategy. >> we wanted something that

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