tv Charlie Rose Bloomberg December 5, 2013 10:00pm-11:01pm EST
basis alone, they are buying a stock. that is called bottom fishing in the stock market. it is very difficult. >> peter lynch is here. he is a best-selling author and a philanthropist. for 13 years he ran the magellan fund with average returns of almost 30%. from 1977-1990, it grew from 18 million dollars in assets to $14 billion in assets. he retired at the age of 46 and has dedicated his time and resources to give away a large portion of his fortune. i am pleased to have him back at this table. welcome. we have this wonderful interview. i would occasionally say what ever happened to peter lynch? it was one of those things. and whatever happened? that is my question. >> people will say he will start his own fund.
>> he wants to do it all on his own. he does not need the great fidelity. >> i have one gear, overdrive. i have a lovely wife, three children. i worked part-time with younger analysts. my father died at 46. he took sick when he was 43. i love the job, the company, i worked every saturday for 11 years. i want to spend more time with my fife and family. >> and you are constantly on the road. you would take her with you. in search of understanding the company. >> correct. >> what have you learned since then? do you look back and say i stopped to early? too late? >> it was the perfect time. absolutely perfect time to see my children go up.
they are all married. i spent time with my grandchildren. >> tell me about your passions. >> my wife and i, her father was a high school principal. she grew up in delaware. i went to public schools. we had the best college and universities in the world. k-12, not that hot. somebody born in america today is less likely to graduate from high school than their parents. that is remarkable. >> and falling behind in scores on math. and science. engineering. >> 25 years ago, if you are a dropout, you could work a lathe, a bowling machine. there are a lot of jobs. today, there is low level jobs at fast food restaurants and hospitals. if you want a decent job, you have to use a computer.p you have to speaking wish. all of these manuals, they are not in creole or portuguese. spanish.
they are in english. today being a dropout is a tragedy. >> and once you lose a step, you lose a second and third and fourth step. >> and literacy. there is this amazing correlation. 85% of people in prison are illiterate. >> you and so many people i know, some deceased, but all passionate about education. passionate. all have resources. all have a voice. >> first of all, one of the issues is recognizing the problem. i do not think it was clear 10, 20 years ago. when world war ii started, our
army was smaller than the netherlands. we did not know how bad hitler was. he have to recognize that. now we say, there are 45 million kids in public school. half of them get a decent education. the rest not so good. that is a huge tragedy. i think recognizing the problem, and people like yourself is a leader in that. this is not acceptable. this is bad for everybody. that is starting to happen. several things are happening to make it better. that is very positive. >> are you convinced we have the will to do what is necessary? the will. >> the more people the recognize the problem, then they say we can do something about it. then things will happen. i think we are between phase one and phase two. teach for america, many examples like national mentoring. the programs that are starting to make a difference. people recognize it works. people want to invest. they want to invest in companies
that are doing well. if they say this is a waste. it is hopeless. you have to take away the hopelessness and say we can make it better. there is examples in massachusetts with these charter schools. we have some district schools. they are now the top of the state. these things work. >> not all of the results is as good. >> some of the early ones were not well planned. the ones now, and some district schools. this is a program called the achievement network. it is a testing program. 300 students have it. this should the spread all over the country. my wife did all of the research. they basically test the child four times a year. a quick test. instead of saying the student is falling behind, the reason he is not doing well, he can't at a quarter to 58. susie does not understand adverbs. it helps the teacher help the student.
things like that are happening right now and it helps the teacher a lot. >> we are just beginning to understand how to use technology. for a long time we did not know how. >> and then there is the importance of the principal. that is something we focus on. my wife's father was a principal. they spend a lot of time on the boiler or the leaky roof. there is no peers to talk to. it is a lonely, hard job. it is a difficult job. we are working at the boston college to work with principals to help them get the best methods and tools. and then the teacher is the second most important. they are the leaders. jack welsh, that is the principle. lea iacocca.
>> jack welsh, what is it they have, you would go around and do a self analysis of companies and you would look for things that you could identify and know they had the potential to grow. and they had a culture. and they had a plan to grow. what do great managers do? >> there are two types. somebody who comes up with an idea, and then you have to grow it. iacocca had to turn around chrysler. even more challenging, a company like general electric, make something good better. that is really hard. all of these people are problem solvers. they have a manage people. one of the things that a surprising, they do not understand the definition of management. getting things done through others. it is easier to do it yourself. sometimes you have to encourage
them. sometimes you have to push them. you have to understand what they want. you have to work with them. you have to set goals. you have to be a leader yourself. you have to be, so you make mistakes. there is an amazing difference in persistence and being stubborn. i think great leaders will say what -- >> persistence is good. stubborn is bad. do good managers listen? >> absolutely. >> i have come to think listening is an essential quality. >> sometimes managers get so high up, they are shielded. they do not have a chance to listen. >> the best manager will make sure they do here. >> and they do their own research. independent of the people around them. >> you were still with the fund. you are the manager of the fund. she runs the foundation. >> i manage the money. she has all of the great ideas.
>> you make the money and she gives it away? >> that is right. she founded to teach for america. national mentoring partnerships. she is the one finding all of these proposals. she narrows it down. she does site visits. i attend some of these meetings. i am the investment committee. >> do you miss anything? about the life you had? or do you say i have a portion of it. i am making advancements or something that means a lot to me. and i know where the fruits of my labor are going. they are going to improve education. >> the nice thing, i'm actually doing projects. my wife is my only boss. when i was at magellan, one hundred americans were in the fund. when the market went down, you
felt that. the pressure on you, when it is average people's money, it is overwhelming. you said nice things about magellan, 10 times it declined over 10%. >> your point was were that you are confident enough to say, when it is declining, to know when to give up and when not to give out. >> when the market went down, i would go down. >> but you would not get scared. you had invested in a company. >> the company was fined. johnson & johnson is higher. xerox is lower. it is what happens. >> i know a lot of people who were doing well in the world of investment and finance. and they do it by the study of macroeconomics. you never bought into that. >> i was bottom down. i was lucky.
i own a lot of, america motor inns, united inns, i said who is your competitor? they said la quinta. i owned it before sunset. if somebody said something nice about a competitor, it is always true. they have a better formula. we can't match their formula. i visited them. it was a huge success. >> how long did you stay? >> seven or eight years. >> how did you know to get out? >> you want to get out, they have the formula right. it is toys r us on the way to 500 stores. home depot on the way to 4000. walmart, 10 years after it went public, it is up 10 fold.
ten years after it went public, it became percent of the united states. you could say to yourself there is a lot of room to go. you have every mall with espresso limited. they are in the eighth or ninth inning. where can they got? that is how they define it. when it goes to good, you are happy. maybe i should have gone into something else. >> can you be greedy in your business? >> yeah, sometimes, complacency, concern, and capitulation. complacent -- i do not call it greedy. everything is going right. you say things are starting to slip. the fundamentals are starting to mature. the complacent is the worst. >> that is the one that happened most often? >> if you are working hard, you are checking with competitors, suppliers. you are trying to find out, is this company early? do they have years and years of
growth? then you stay with it. >> there is also this idea of do not invest in something you do not know. that is why you went on the road. if i do not understand it -- >> if you know they are financially solid, you are fine. if you do not understand it, you're going to do the wrong thing. if you're confused to start with, you will say there is something wrong. then you are out. a lot of times stocks are going to decline. some of my best argon 18-8. some have gone from 18-0. >> so if it is going down, you are not adding to it? >> if they are deteriorating, i am going to leave. >> how much do you measure your success and your ability to communicate well? your command of the language and to express ideas that are simple
and comprehensible. has always been the reason your book sold well. there was good content and the way you were able to communicate and become a leader in your industry. >> you asked earlier about the ability to listen. when you're talking to a company, if you ask questions, it is like a monologue. then you say, you want to have them say, one year ago when you're looking to see what things will be like, how did it come out? what have been surprises for you? i am always listening to what people say. it is more listening rather than asking. also being nice. when you go to a company you say last year your capital was $125 million. what is it going to be this year? you do not want to be mean. if the rubber hose work, i would have used it.
you want to be kind. i enjoyed meeting you. it was a nice interview. people are turned off. they have all of the answers but they do not have to be nice to you. being kind and courteous, i was a boy scout. be prepared. >> i had a friend of mine who i know admired you greatly. i said give me five questions you would like for peter to answer. in three minutes he sent them to me. here they are. what has changed about investing in the market since you left? what has changed? >> there is a lot of this computer-driven thing, people buy stocks for a second. i think that is a waste of time. i think it is disruptive. on the positive side, information to the public is so much more available today. when companies release their numbers, and they have a call, it is open to everybody.kn all of that information. we used to wait for the mail to come to see what nike's
inventories were like. we would get that in our first- class mail. the investing for the average person now is much clearer. they know the same thing as i do. you do not want to invest in a company whose balance sheet, they have $8 billion in debt. no cash. they are losing money. that is a terrible combination. >> you still believe in the investment mantra you are credited with, invest in what you know. >> i'm amazed, imagine if you have been in the mall the last 30 years. you would have seen cap, best buy, circuit city. these companies doing something better. it makes no sense to me. if you are in the steel industry, you have seen it go from awful to better. >> if you are managing, if you
look at magellan or blackrock, you think they must have access to the best information in the world. >> they do not have that information. they do not see things get better the way -- they do not see the return as soon as the people and accounts do. it can be in plastics, lithium, whatever it is. they see it first. in a mall, imagine the companies you have seen, dunkin' donuts. wal-mart. these companies get better. gee, i am shopping there. i'm not saying people -- if they want to invest, they should do the same research when they buy the refrigerator. do some homework. >> you know what about this country is stunning to me? we do not do that about medicine and our health. we don't do it. i am more interested in getting the best television than the best medical, medical. >> i agree. the diagnostics, talk about improvements. it is so much better.
>> the other thing is the advice we give to investors. >> i think the advantage of putting money into a retirement fund, index, whatever it is, put some money aside. it is going to compound tax- free. >> and will do wonders. >> start a paper portfolio. i'm going to buy these 10 companies. write down why. what is the reason? and then keep checking one year later. what happened? did they keep growing? do a paper portfolio. you can do what i did. what am i good at? what am i bad that? am i good at turnarounds? maybe i paid too high for a stock. you can do this over four or five years and learn your skills. i owed thousands of companies.
>> when you were running a $14 billion, did you see in your mind's eye, did you see individuals i am investing for, the firemen down the street. did you? >> almost none of it was pension fund. it was almost all individuals. it was incredible, that thrill. i got letters when the market went down in 1987, people were writing letters to me cheering me up. no complaints. >> mr. mintz, you have done well for me. >> hang in there. it is amazing. >> i meet these people all the time. at airports. it was wonderful. the greatest thrill of my life. children and my wife managing money for other people. >> we have also seen today the
whole business of hedge funds and private equity and shadows. now they're talking about the mutual fund business. what do you say to that? >> a couple of differences between a hedge fund and what i did. i could only by long. i could not buy commodities, i could not short the euro. they do it on average. there are going to be 20% short, mostly long. the nice thing about, occasionally, if i found an idea that was overpriced, i went onto the next thing. i could not short it. i found that long only -- >> they also have to live under the rules of mutual funds. do you think they will be successful? they are tracking some --
>> on the long side, they have done the best. being right on the long side, obviously if you are right, i would say when i ran magellan i was right six times out of 10. if i am right, i would make a double or triple. it offsets the time you lose 30%. when you are short, you can only make 90%. when you are long, you can make tenfold. long is the way to be. >> optimistic. >> careful and optimistic.á >> it is like the person who said i am very optimistic. i'm not certain about my optimism. and when you look at the market today, a good time for investors to be there? we have seen new highs. >> i think the market is pricing in what is happening right now.
five years from now, 10 years from now, profits have grown seven percent the year. they have doubled, including dividends, about every 10 years. go up eightfold every 40. what is the kind of numbers you are interested. the 10-year bonds today is two percent. i think the stock market is the best place to be for the next 20 years. the next two years, no idea. i have never known. >> what do you want to accomplish in the next year of your life? >> i would like to work with my wife and take more vacation time. we like to see something new. this year we went to turkey. remarkable. >> it is amazing. it is one of the world great cities. >> it was great sailing. two of our daughters and their husbands went with us. it was a great trip. i have been to russia, never been to st. petersburg. i have been to israel.
i would love to go to jordan. >> isn't that great? another place you have not seen. how many places do i have i have not seen? >> this year, i'm going to north dakota. i have been to all 50 states. i looked into hydraulic fracking. >> to see -- >> to see if it works. it does. >> and it will change america's energy future? >> remarkable. what a breakthrough. imagine producing all of this gas at two dollars where people are paying 10 times. >> how did you decide it work? >> first of all, usually you drill four wells. these are all a plus or be plus wells. you do not get an f.
the cost is still going down. they are doing it faster, quicker, lest sand and water. they're doing a better job. >> are there environmental threats coming out? >> if you make a mistake, it goes down. they can make mistakes. >> great to see you. a pleasure. peter lynch. back in a moment. stay with us. ♪ >> their mighty warrior is a
giant. he is 6'9". he is outfitted head to toe in glittering bronze armor. he has a sword and he has a javelin. he has his spear. he is terrifying. he is so terrifying that none of the israel soldiers want to find him. it is a death wish. there is no way they think they can take him. the only person who will come forward is this young shepherd boy. >> malcolm gladwell is here. he has been a staff writer at the new yorker. his writing draws from history and psychology and storytelling to help us understand the way we think and live. he has even coined an adjective.
his new book is called "david and goliath." i'm pleased to have him back at this table. welcome. 60 minutes this morning. >> i have been busy. >> you deserve to be. we have been thinking about david and goliath wrong? >> it is funny to go back and re-examine that story. it is the quintessential metaphor for lopsided battles. under dotson giants. i started reading around the story since then. david's weapon, the sling, is devastating. it is one of the most devastating in ancient times. i talked to a guy who is a ballistic expert. the rock fired from his sling,
it is not a child's toy. then there is goliath. there is speculation that goliath has a disorder, which is a tumor on his pituitary gland, which would be the cause of his giantism. it causes overproduction of human growth hormone. it also has the side effect of causing problems with your vision. you read the story closely, he is like a guy who can't see beyond a few feet in front of his face. he is constantly calling out to david. he does not realize david is not going to have a sword fight with him until the last moment. you have a combination of a lumbering half line giant and a nimble young man with a
devastating weapon. that is not the story of a hopeless underdog. >> and so what do you take from that? >> that is the beginning story in the book. what i am interested is examining whether our intuitions of advantage are accurate. >> it also applies to warfare. not just that kind of conflict. real-life warfare. americans in vietnam. >> exactly. also in a number of situations. i wonder whether, i talk about education in this book and i talk about disabilities. in a number of instances, we have a reaction to a set of circumstances which we label as a disability. we say that is something that makes your life difficult. my question is, is it or is it always is a better way of phrasing it.
i am trying to deepen and make more sophisticated our understanding of what helps us. >> and to understand what helps us and having a disadvantage can be a motivator. >> well, yes. i have a chapter on what does it mean to lose a parent in childhood. i talk about this extraordinary person, one of the great figures of 20th century medicine. i was fascinated, he was one of the people who is one of the most important people in defeating childhood leukemia, which was this extraordinary, bold, almost outrageous idea he had for curing it. it would -- i was interested in his childhood. he headed dickensian childhood. he lost a father very young. i was interested in how he responded to that. i got to talk to psychiatrist about this phenomenon. they talk about the number of
times people who have done something extraordinary in their life have lost a parent early on. the idea is you have one of two responses, the common response is that you are devastated. it is a significant setback in your life. there is another response which is just as important. a certain class of people appear to be, invigorated is the wrong word. but it gives them strength. to have survived that blow. they are allowed to see themselves as much longer and much more indomitable. >> and it sometimes gives people, if that happened to me, it gives me purpose in terms of -- >> you see this. the data looks at english prime ministers and american presidents. how many of them lost a parent in childhood. obama, clinton, who is a fascinating case study who suffers is below early on --
>> his father was killed before he was born. >> he grows up in a kind of environment without that kind of safety net. what does it do? it seems to have given him the strength. that pattern, we see that again and again and again among people. >> do you think that is a majority? >> i do not. i make the same argument with dyslexia. there is a minority pattern. you see a large number of successful entrepreneurs have dyslexia. that is not a common response. that is not the typical response. it is fascinating to see this bimodal response to what we would consider just to be a setback. >> do you think that -- i mean, it is often said that some small or large percentage of comedians come to comedy out of pain.
>> you know it is funny, i was just reading the new biography of johnny carson. it talks about, the fascinating thing where his mother, who was the most emotionally withholding, cold, and what was johnny carson? he was so tuned to the emotions of his audience. it comes from his mother! you grow up was somebody who is a blank wall. you have to pick up on the smallest -- the thing about carson, the book makes this point. what makes him great is he is locked in on the emotional responses of the people in front of him. so i totally agree with that. his genius. i agree with you. i give you give this kind of systematic analysis of comedians, for whom, i think you would see that.
you can get as much of a productive response from a highly adverse experience as you can. >> now the book is out. you are talking about the book. are you there in terms of what you want to do next? >> it takes a long time to find an idea you want to live with. >> does it begin with a question? >> it begins with a feeling. i have to be interested in something that is of the moment. that other people are thinking about. i would never write "tipping point" today. >> you are a giant on the speaking circuit. you are a giant at conferences with corporate people trying to learn something so they can do their work better. what do you think it is about?
why they want to hear from you. it is the nature of the books and the fact you are a gifted speaker, presenter of your ideas. >> i think there is this interesting thing happening in the business world which is that there was a kind of opening up. there was an understanding among people they needed more and more to look outside of their own discipline for inspiration, for insight. prudential has ads now with a psychologist. i love that. i love the idea a major corporation has turned to a psychologist and said let's work together. that is what is going on, i think. i am not a business person. i do not pretend to be. but i am a beneficiary of this
new openness. the manager of a company saying i can learn something if i read about or hear somebody talk about military history or social psychology. >> in the end, there is also people looking for several bullets. >> it is funny, i don't know. >> i don't want to think they are looking for a cheap fix. they are looking for something, they are looking for a theory of everything. they are looking for something that ties it together so they can say i get it. >> i have often said we are information rich and theory poor. we have more and more experiences, and you add a variety of experiences that are parents and grandparents never had. what we lack our ways to make sense of them. what the genre of books to which
my books belong is that these are a genre of sense making books. i'm giving people who write in the same field, we are giving. to tie those things together. >> this is called "david and goliath: the art of battling giants." malcolm gladwell. great to see you. back in a moment. stay with us. ♪ >> we turn now to canon's "project imagination" with james murphy, ron howard and bryce dallas howard. i'm glad to have them at the table to talk about something that is about photography and creativity and imagination as well.
it is an interesting title. how did it begin? >> i had never gotten involved with anything having to do with branding since i was a kid on the "andy griffith show." in those days you had to do a commercial. i had to do a commercial just in my opie outfit. >> they made you eat so much cereal. i have heard the story. >> a little bit of that but only when appropriate because you sort of want the proper anyway. i have never gone out of my way to cooperate with brands should >> now we are talking about a big brand, canon. >> they wanted me to be the face of this campaign. it was such an inviting idea because it was an experiment. the idea was simple, it was people submit photographs, still photographs, photographs dedicated to a particular category in the filmmaking
structure. you know, characters, setting, mood. story. things like that. so thousands, i do not know how many, -- >> i think it was almost 100,000 submissions in under a month. >> what would they submit? >> photographs they had taken. they would say i suggested for the character category. so then the public narrowed it and i had to select one picture from each category. the first year it was eight. when james did it, it was 10. and then bryce's job was to build a story and make a short film, inspired by those images. whatever that meant. literally inspired or thematically inspired. it did not matter. but take your inspiration from
the images. i thought it was a fascinating exercise because it reminds me of a little creative exercise i do. when i'm talking on the phone, i like to flip over my memo card and on the back do three different lines, randomly. to start to link them together. every once in a while, even though i can't draw, i come up with a fun doodle. this reminds me of that game where you start a line or a story and it is continued around the table. i thought it would be fun. bryce made a wonderful movie. she is shortlisted for the oscar category. and it was a very personal film. it was also successful for canon. it promoted this notion that many more people are far more creative than they allow themselves to believe. their work is worthy.
and that kind of collaboration can be incredibly fruitful and stimulating. they decided to do it again this year but have more filmmakers. >> coming about the film you made. >> it is called "when you find me." i view myself as the first graduates of this program. of this experiment, "project imagination." it is so funny we were talking about "rush," because that movie is about competition. i think people view hollywood or moviemaking as a very competitive industry. i think what this project has highlighted is that actually storytelling is a collaborative endeavor. the collaboration can elevate everything. can elevate storytelling. the thing that has been so intimidating for me as a storyteller, not necessarily as an actress, but someone who writes and is getting into
directing, facing the blank page. that is very scary. the opportunity that was presented with this project is that i never had to face the blank page. i looked at a incredible photos with the writer of my piece. and instantly ideas were coming to us that would have never occurred to us before. i just -- i think it is a beautiful thing to get to have this collaboration. i think that is where we are headed with crowd sourcing. because of the technology that is available to us now. we can all come together to tell stories in a much more profound way than we could have before. >> did you come to this with a sense of collaboration were of dependence on self? >> i am not a great collaborator. [laughter] >> somehow i knew that. why?
>> because i am uncontrollably uncompromising. not like i view myself as uncompromising. i have a difficult time being like, that seems fine. i really want my thing. i'm also loathed to step on people. i am quite sensitive and empathetic to that behavior. i do not like to be autocratic and difficult. i like to do my thing. quietly go and i make records alone in a room. i am the producer. i write everything. it is just my normal way of not being frustrated. or not frustrating others. and not having my own friends hate me. i do ok with that. i saw this as a chance to try something. a chance to learn something. and i learned actually that it was collaborative. i have never made a film before. i found it was enriching.
i was really careful to pick the people that were the main people i worked with. my cinematographer, who is amazing, he calmed me down immediately. i was stepping into this world where i did not know what i was doing. i have shot videos before but that does not count. he would say, i want to do this. i'm like, ok. we're going to go with it. like as opposed to being, i do not know that is a good idea. i found it to be really collaborative. i found i was able to do what i wanted while still collaborating. i have never experienced anything like that before. >> you said it was a series of multiple-choice questions. >> i hope nobody gets mad at me. i found it to be easy compared to other anxiety have done. not that i think film making is but my experience was i had a
good team. i have never been asked questions before. i make records alone. all blank pages. it is just like, what am i going to do? >> you are asking questions all the time. >> now i am getting things do you want to shoot from up here. i will pick the ground. here is eight pairs of socks. what should the actor where? the blue ones. [laughter] people would say do you want to make a record? and that was the end of it. i would have to show. for me, that was wonderful. that was an amazing thing. watching actors make choices in rehearsal and being like, ok, let's go back to this. that was wonderful. >> to hear the excitement in both of them. i was also, as the program of all, into these two phases, one was to have a new set of celebrity, a high-profile,
creative people experiment with directing a movie for the first time. regina chapman is the designer. jamie foxx, who we all know. biz stone, from twitter. it has been fascinating for me to see, we were talking about "rush" and that ambition reflecting itself in not treating this like a dalliance. but really throwing themselves in it full bore. all five. i'm telling you. >> in other words, they are saying i'm going to dive into the deep end. >> i'm going to honor the experiment. everybody knew it was going to be somewhat high-profile. it is also an opportunity. >> i tried to honor the process. which was like, just because it
was more fun to be like a mutt let's see what we do rather than, i want to make a movie on my own. why not engage the process as much as possible? i have not talked to any of the director since they started. i am dying to -- i always felt lost in my own world. >> what movie did you make? >> i made a film called "the little duck." it is all in japan. it is all in japanese. >> i really special film. >> they are all experimental in this way. hats off, canon was never saying you have to do this or that. >> they are supporting creativity. they have created the technology to enable individuals to have a voice. that is what they asked of all of the celebrity direct years and then when it's brought into consumers, that is what they asked of consumers. make your films.
this is a contract of the experiment. those were the specifications. the films that came in from the consumers were absolutely remarkable. it was incredible. >> using largely the same photographs, in japan in japanese, a very character driven, fascinating story. eva longoria made an action movie. inspired by the same photos. >> are you amazed how much creativity there is on the internet, that it has provided a springboard for people? it is democratic. >> it is technology influencing what is possible in proving to people over and over again they actually have something to share. and a way to prove it. >> the other thing, it can access things that will stimulate your creativity. >> david fincher gave me this tip.
he is such a great visualist. he is a remarkable director, and bold. i was getting ready to do "rush." i knew i wanted to push the envelope. he said, he said think of a word and look it up on youtube. see what people have done with it. you will be blown away. there are some images in "rush" that have to do with moving parts that somebody found a way to replicate. in a very visceral, almost poetic way. it is great advice. it is out there. people are finding ways to express themselves. that has to be good for everyone. >> what is the role of canon? >> canon sponsors said. they underwrite it. again, it is not about selling a specific camera. brand identification and
creativity. the fact that they do not want to be thought of, they want to remind people they love making the tools but they also have a lot of respect for what the tools can offer artists. for everyday consumers who never thought they necessarily had an eye. >> end of the five winning consumers, these were not individuals who were filmmakers. that is what was intimidating. >> we did not know that. >> we found out afterwards, these are the majority, this is their first attempt at making a movie. a majority of, even though this was not a requirement, a majority of the consumers making movies used canon equipment because it was the most affordable of the highest quality. >> your life was about music and theater. does this somehow impact you in
thinking i would love to do things for the eye? >> i have never seen much of a divide between anything. i grew up listening to music. listening to rock music and punk rock. so much of that is tied into visual identity. that is why record covers look different. i like telling, i like arcs, and i have usually dealt with them musically. it is more difficult for me writing a film because music is a lot more illogical. it does its own thing. but in a plot, they need to align in a moment, which was different. >> what are you doing next? >> i had my second child last year.
>> a huge achievement. >> which is wonderful. the joke is i have made five short films. directed five short films when i was pregnant or lactating. [laughter] >> you can't make a film -- >> i would love to make a feature film when i am not in that state. i have been developing that. and then i'm going to be, they are relaunching the jurassic park franchise. i'm going to be in that. i will be chasing dinosaurs next year. >> good to have you here. nice to see you again. thank you for joining us. see you next time. ♪