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tv   Bloomberg Technology  Bloomberg  May 24, 2019 5:00pm-6:00pm EDT

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yvonne: >> i'm taylor in new york in for emily chang. this is "bloomberg technology ." coming up, has the technology cold war already begun? president trump says while we may be part of the trade deal shifting from previous efforts to campaign against a company is a sprament issue during ongoing trade dispute. plus the electric carmaker
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continues to get pummeled by the bears. can the company weather the storm and our exclusive conversation with a former apple executive angulo and we'll cover how she transformed apple into a retail however pious. -- power house. our first story of the week. on thursday, president donald trump said the chinese trade giant could be part of a trade pact with the company that the trump administration is trying to seal by limiting the sale of components over security concerns. the u.s. had held off from blacklisting huawei out of concerns and only took action after the last trade talkts hit an impass. joining me, tech founder david kirkpatrick and also, bloomberg technology's, alistair. recap the week for us.
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s the a week ago when we first started to hear ks about huawei being blacklisted. it hack a long week, hasn't it? >> it certainly has. the global technology supply chain fraying seriously. this is a supply chain that's been built up over tens of 20 years and it will take a very long time to rebuild if in huawei problem expands to sweep up a lot of u.s. and other tech companies around the world. taylor: david, we talk about this global supply chain. you've been covering the tech sector for years and years. sit possible given thousand integrated we are to disconnect now the global supply complain? >> absolutely notful you can't really separate the u.s., the chinese, the european, the global technology supply chain. we really are operating in a global supply chain economy, a global economic system in general, which is why i think
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this whole really irrational battle that's emerged between the u.s. and china is almost implicitly and intrinsically destructive to all the parties concerned. taylor: alistair, way tonight talk about some of the ripple effects, in particular, some of the other chip makers. have we heard from them about what they're saying about how this could impact their business? >> acquaintance -- companies like qualcomm, big u.s. clip makers. they've told employee that -- employee that they are not supplying huawei with components for the time being, to comply with president trump's order. compliant for e these companies and their shares have fallen a lot. other u.s. companies are also
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trying comply but in some case it's not particularly clear what they should and shouldn't do. taylor: david is this the right approach? would you argue that this is the wrong way to go? >> i don't think that pushing back against huawei for what in many ways are some good legitimate reasons should be tied into a larger trade battle, first of all. even if you do believe and to some extent i do, that huawei needs top a little bit of religion taught to it, the way to do it is much more thoughtfully and carefully that that administration has done. i don't think the trump administration realizes the degree to which these supply chains are seems to be grate. hen we saw zing ping this week somehow -- implying
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that somehow china might hold become that kind of material for the rest of the world, that shows how upsetting this battle could become. honestly, almost every chip make center world and almost anybody who makes anything from technology could ultimately be affected if china were to pull that kind of nuclear option. i'm not sure they would. i think they probably wouldn't but it's terribly scary and unnecessary. taylor: alistair, as we push the story forward, what are you hearing from companies on if there is a retaliation from china? what many -- if they blacklist some of our american companies, who would be hurt and is that a possibility at this point? >> the big question mark for us this week is apple. this the theory with apple and
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the concern is that china would now? promote an unofficial boycott of u.s. technology products, including the iphone. they might also encourage chinese consumers to buy huawei products ramp than iphones, for instance, and that could have a big impact on apple. you also have to look at frit the other perspective, which is that the making the assembly of an iphone supports about 1.4 million jobs in china directly and a lot of other jocks in china too. so it remains to be seen whether cloyne will be willing to take that type of impact. taylor: david, you've been nodding your head. a lot of your research is am. companies who get 15% to 20% of their revenue from china. how concerned should they be at this point? >> they should be concerned but
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their infrastructure is a good example of the global supply chain. the physical pieces go back and forth. china's overwhelming where apple makes the final assembly of all of its products. 17% of its revenues roughly come from there now. it could be, as alstarme suggests that they might either officially or unofficially deter the purchase of apple predicts in china. i don't think the chinese government would take the chance of really pushing back on the assembly of am products there because of the huge jobs impact that would cause. taylor: a story story that is developing. thank you, alstair barr, and david kirkpatrick, you will be sticking with me. tune in on bloomberg tv on monday for our exclusive interview with huawei's founder and c.e.o. from the company's headquarters. shin engine is has launched a
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global orbit. the falcon nine rocket blasted off from came canaveral carrying 0 satellites on thursday night. they disclosed it raised more han $1 billion in equity offerings in the next few months. a rocky week for tesla was tech at its lowest points since 2016. we'll discuss the biggest concerns about the carmaker next. this is bloomberg. ♪
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ylor: tesla took a big -- in wall street. the stock is down to its lowest
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level in more than two years and growing analysts concerns. it's a cold red situation and our guest explained to bloomberg his biggest concerns for the carmaker. >> them hitting those numbers in this quarter and i think fund mentally, the problem comes down to what we're seeing in the u.s. in terms of demand and especially in europe and china. taylor: meanwhile, bloomberg also spoke with someone a bit more optimistic. >> i'm i'm a believerer in tesla. ible they'll turn the corner. they're at 1% to 2% globally. but 2019 is going to be a difficult year. emand yes is quite questionable. taylor: we sat down with another guest who discussed the
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convictions towards the company. take a listen. >> we try to engage with companies generally behind closed doorns. we've generally found that that's more effective. much of the time we're spending is trying to encourage companies to reinvest in their business and take a longer term view. they're under pressure from share holders to take a short-term view and tend to give up opportunities because in the short term they won't take opportunities. we believe of the long term positive. they should do it and we're trying to support them and change the dialogue. >> but why not publicly? because psalm share hold rerlings now being more vocal. even small share hollywooders. >> in certain cases we will do but only if we're failing to have the impact that we want behind closed doors. >> one company that is
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especially high profile this week has been on somewhat of a roller coaster is tesla. the company after elon must have been, the largest investor. what is it about that company that remains attractive? >> we need to remember, i'm an engineer by training and the engineering that they have, they've managed to achieve there is transformational, not just for this industry but for the world in general. they've achieved a lot. scaling up is really difficult and they're working their way through that just now and we're trying to be supportive shareholders to help them in that journey. >> how do you support the company to make sure the story is the engineering story vs. the -- story? >> it's trying to be supportive with middleweight, with the
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board. trying to make sure -- trying to encourage them do exactly as you're saying. taylor: that was c.e.o. andrew gifford. i'd like to bring in -- and david kirkpatrick. max, i want to start with you. tons of bulls, some bears. felt like it was turning a bit more bearish. wrap up for me what happened. >> what happened is the main single that the china trade war is obviously not going to get settled anytime soon. that is bad for tech. tesla really needs sell some cars in china. the other thing that happened is that elon musk sent an email to his staff talking about hardcore cost cutting. on some level that's good if you're an investors because you don't want your company wasting money but tesla is supposed to
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be a growth story. the auto motive industry, reshaping transportation and it's hard to do that when you are cutting costs. the question becomes is this a growth story or kind of like a mid-sized car company that really isn't going anywhere? and that's where the bears are landing. taylor: david, talk to me about some of those bears. what's the downside scenario? david: the downside scenario, as max says is that they'll never really be able to be the major central player in electric and autonomous vehicles that they have promised to be. partly because every other major carmaker now sees the potential in those markets and is working very methodically to compete head to head with tesla but they are ahead in a number of key technologies as one of the analysts you quoted before suggested. so i don't think they're out of
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the game at all. it's always been a company that was more a -- story than a strong, hardcore financial story. are you a believer or not a believer and even more than a believer in tesla is are you a believer in elon musk? he and still has a sort of zealot class of people that will continue to supports him, i believe but they have to figure out a way to make money and settle down a little bit. taylor: i'm going to try and surprise and you say we are going to try to do some hardcore financial analysis on this show and one of those things has to be about china. basically at the end of the day, supply and demand. talk about programs the trade is weighing on them. they do need to be in the chinese market to immediate -- meet demand. what's the risk that trade blows this up? max: they are yet another american tech company that
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depends -- depends very much on china as a business. i think the uber i.p.o. and its failures and the attention it has put on the whole notion of chronic money-losing businesses that you just cross your fingers are going to be giant amazon, facebook-like down the road is being put into question and tesla has been a company for its entire life that people have pretty much had in that category. some day it's going to dominate. not today but therefore i'll buy its funds and stocks because i believe in that long-term story. general execution seems to be a serious negative. taylor: max, you've had a lot of analysts wonder if they were going to miss the targets they sought for themselves, even though elon musk in his email said we're ahead this week, he said we're going to meet the targets. do they look like they're on track to meet those targets?
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max: it's really hard to say, especially because tesla has sloan the tendency to try to -- elon musk is watching the stock market. it's hard to know whether that email was leaked strategically or whether what we're seeing was a genuine leak or something like that so it's anybody's guess. it's a good sign that elon musk is sending an email to employees saying that production is on track. what i would say is some of this kind of sense of hitting a wall was inevitable. elon musk has been this magician saying i'm going to make a $30,000 electric car and the argument has been can he do it, or not? that's where the bulls and bears are. once he makes the $30,000 car appear, it's hard to know what the magician's next trick is there's a trade war. he talked about the economy and
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then oohs another government investigation into a fatal crash. it's kind of like the company is grasping for its next act and no one quite knows what that would be. taylor: thank you both. david kirkpatrick will be sticking with me. and oming up, after 15 years on the privement mark. peter teal's company is getting closer to an i.p.o. we'll discuss next. this is bloomberg. moment? -- ♪
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taylor: as services like uber and lyft explode drivers are ditching their cars. owning a car becomes less of a priority. bloomberg quick take explains the rise of mobility as a
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service. >> thanks to the mart phone, getting from a to b is so easy that it's got some wondering why bother owning a car when you can easily get where you want at the price of a button? it's an idea known as mobility as a as much as where travelers say goodbye to your own or cars and sign up for transportation on demand, booked through their smart phones. image a commuting plan that charges by the mile or through a monthly fee like netflix. the demise of car ownership is a property -- prospect that the world's automakers are getting ready for but it's not going to happen right away. a major switch to prescription transportation requires two things to fall into place. the first is already well under way. rides like n of lyft, grab and -- the second parent isn't quite there yet.
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that's driverless cars. removing the human from behind the wheel slashes the cost of a taxi ride. that will make possibility -- monalt as a service, though cheap in many clays places, it won't make financial sense to own a car anymore. a typical carp today cost $2 to $3 a mime. but a riled car is expected to cost 70%% -- cents per mile. it is thought to be lowered to 50 cents a mime according to elon musk. tech giants like google and apple are developing their own self-driving systems, to take on the world's leader automakers, including volkswagen, general motors, formed and toyota. eventually a single smartphone app could connect to robo taxis,
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self--driving shuttles, e-bikes and electric scooters. that will glide you through megacities. some day urban dwellers may have to spend a day in the country to catch a glimpse of that 20th century show pony known as a private car. taylor: palantir's heim an 'tis pated i.p.o. may be delayed. it could go public in the second half of 2019 but sources told bloomberg this now seems unlikely. joining us now to discuss is bloom berg's lizetta chapman. why the delay? >> there are three main races our sources have been telling us. the first one, mainly, their board.
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it is too small and not independent. he -- it has four board mention. half the size of a typical board. both major stock exchanges require a majority of board members to be independent. they don't have that. the second issue is the fact that their sales team is still developing. they want to see what else they can do in terms of maturing that and increasing sales. they want, you know, two years of really strong consecutive sales growth, which is something that our sours have told us they're on track to do by the end of this year. the third thing is that they need to mature their finance team and they are looking to add more season seasonaled finance proimbles. taylor: usually when you i.p.o. it's to raise money to investors can cash out or to raise money because you need it but they
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don't actually need the money, do they? >> no, they don't. that's what our sources are telling us right now. and based on how they've operated in the past -- again, in is a well-standing, long-financed companies. it's raced more than $2 billion so far. last year increased sales about 40% to nearly $1 billion and it narrowed its loss to just $30 million so it's juston cusp of break even. they're not a big acquirer of other technologies so that's another reason why they don't need to go public. and their investors so far, which inexclude peter teal, one of the co-founders, he's the chairman and also one of the largest investorsstest -- he's not exactly poor and hasn't shown any lack of patience in the public debut. taylor: thanks for joining me.
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coming up, former apple senior v.p. of retail. looking back at her leg and i -- legacy and the company and her thoughts on the current direction it is taking. we'll have that next. this is bloomberg. ♪
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at comcast, we didn't build the nation's largest gig-speed network just to make businesses run faster. we built it to help them go beyond. because beyond risk... welcome to the neighborhood, guys. there is reward. ♪ ♪ beyond work and life... who else could he be? there is the moment. beyond technology... there is human ingenuity. ♪ ♪ every day, comcast business is helping businesses go beyond the expected, to do the extraordinary. take your business beyond. >> this is bloomberg i am taylor
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riggs in new york. at the c2 montreal conference, apple vice president angela spoke to attendees about her role at the tech giant, transforming its retail presence. i can't with her, we discussed apple and i asked her what opportunities she saw at the country -- at the company that convinced her to join. >> one of the main reasons was because i thought apple was one of the greatest companies on the planet and i thought, through their retail stores, which were so huge, that there was an
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opportunity to not only take the experience to the next level, but to have a greater impact on the community. always do iteam to through education, said article was to put program -- so our was to put programs that could help the next generation learn a lot of the skills that i think steve envisioned they would use. >> as you reflect back on your tenure, what do you consider some of your major successes? just what i was saying. we were able to redesign the stores and there are incredible flagships in the pipeline but they are not only stores. places,them gathering because the entire community is welcome and we partner closer with cities so we can put those stores in areas that would help city.art -- help the
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from chicago to l.a. that was one, but the other thing is the in-store experience, that we call today at apple and that we were able to completely redefine and redirect some of the roles and create new positions for the team and create a whole new zone in the store where they could educate, come up with all of the today at apple programs, and the teams today are teaching 18,000 sessions a week so that they can help create the next apple music kids, create the next ios app developers. help kids be better photographers, better film editors, because in the future, leaning into the liberal arts is really -- we felt how the next generation is going to earn a living. all of those programs were huge and purpose driven. >> you certainly have some major
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successes. what do you wish could have gone better? what do you wish you could have redone or changed? >> i have said this everywhere that i've been -- i never focus on problems because it was my job to fix them. i can never say that i wish i would have done something else. i always say that i never moved fast enough. i think technology is moving everything at such an accelerated rate, so we did a lot in five years but i always tell myself to move faster and do more. >> there were some comments about some of the changes in the retail store. maybe customer satisfaction or employees maybe not being as technical as they once were. to some ofpondent those criticisms about the changes in those stores? >> i don't see any of it. none of it is based on fact. left, retention rates
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were at an all-time high. up over 20 points. scores are at historic highs. facts.i know the there are a lot of things that were written. i didn't give any stories to iyone, because it is not how am. it is the same thing here. i am here for this conference because i love what they're doing, i love that they are helping inspire large companies, small companies on the importance of innovation and creativity and how you balance that with commercial so you can have purpose driven businesses. and why i agreed to come today to share my thoughts. >> when you share your thoughts about apple and are, one of the things that is interesting is it is hard to move fast enough.
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leading major retail operations, what are some of the challenges of being the top leading executive? is it just is companies can't move fast enough? what are the major challenges? absolutely moving fast enough, and i think there between chasm between my age as an executive and my teams and i am probably not alone in calling my kids and saying how do i do this? they are digital natives and they see the world friendly. what is important to them is different. often executives reach a level where they think they should know and they surround themselves with similar people and i think it is so important to bring in the next generation,
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because they have very different ideas. they see the world differently apple tried to do this at . it is not a top-down exercise, running a business anymore. not in this social age. we ran one of the largest crowdsourcing exercises that i was there and ask 60,000 employees what they felt apple should be doing more for their communities. they helped inform the experience about today at apple. >> so much of our focus here has been on the critical numbers. sales, profit and losses. we generally have been spoken about a broader slowdown in iphone sales and the mobile phone market as we are reaching a peak in some of the saturation. replacingbe not phones as fast as they were. perspective, how did
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you work on managing the revenue coming from the iphone sales but also selling some of the other brands, the other products that may be were not the core iphone sales -- the core of the company, but also other products as well? know if you know steve's original vision for retail and if you listened to tim at the keynote. he would stand up and say that apple retail has always been about so much more than just selling. they play a huge -- they do a disproportionate amount of the service on those products. with today at apple, they do a tremendous amount of education. over half the staff is not there to sell. steve's original vision was they are not allowed to sell. none of them are on commission. their job is to enrich
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customer's lives through the lens of education on the product's. that was our mission. that was our purpose. there was a lot of things i had no controlstores over index on l products but there is a wide distribution on phones. >> that was my conversation with angela. over is taking its bike rental service to the u.k. the ridesharing giant is rolling out a electric bikes on friday in london with plans to add more bikes in the coming months. uber but jump mike's last year year.ght jump bikes last coming up, shares of amazon have jumped more than 20% this year. one analyst says the stock has much more room to run. we will have much more.
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this is bloomberg. ♪
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>> let's get to that market call that gained a lot of attention. shares of amazon could hit $3000 within three years. that is 65% above were the stock is trading now. the company says it is spinning off the rapidly growing cloud business with low valuation placed on other units. >> if you split amazon into three segments, so core retail, aws and advertising, then apply something close to an average multiple to the 2022 estimates for the segments, you basically
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arrive at a share price of around $3000 in two years or in mid-2021 if you assume investors are going to be trading the stock off 2022 estimates. >> still with me, david kirkpatrick, and matt they in seattle. let me start with you, matt. we can talk dividend discount cash flow model all day long. walk me through the case to be made for the past -- the path to $3000 for amazon. >> the analysts are in their words, pretty conservative. core retail business growth. slowdown in cloud computing growth, but projecting a little slower growth. they get to a level they will be worth $1.5 trillion in a couple years. david, what was so interesting about this call is it was talking about separating amazon web services from the retail. i thoughtrspective,
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the two were together because amazon web services was so profitable. make the case for why you think a separation could happen. >> the idea is to expose the real value of the parts and aws is clearly an industry-leading service provider for pretty much the entire economy. as an independent company would itself be worth hundreds of billions of dollars, the retail business continues to more or less charge toward taking over all of retail in every company in which they operate. that is the long-term trajectory they seem to be on and as the analyst said, advertising is sort of the secret weapon that is slowly gathering strength and presenting a real challenge to facebook and google without many of the concerns about privacy that those services have. amazon is beautifully positioned. jeff bezos is an incredible operator and i don't think it's crazy to say the stock could be worth that much. >> matt, what are your hearing
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in your reporting? this is the first call i've heard where we get to $3000 by separating off amazon web services. from your reporting, do hear these rumors flickering out there? >> not so much on separation. it is kind of a parlor game with amazon. will they are one they consider spinning off that unit. i think it is an analytical tool, what would they be worth in that case? it is not outlandish at all. a couple years ago, stock was trading at $500 per share. everybody is pretty pleased with the job jeff bezos is doing. they are well beloved for the return. i'm not sure this is outlandish. if anything, it is conservative by some estimates. -- david, in your last comic, you talked about regulatory scrutiny. companies like google and facebook have been faced harder with criticism from the government.
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amazon has been able to escape that. because if youe, think of sheer scale, amazon should be included with facebook and google as a company to be concerned about. frankly, i am concerned about their scale. economyrrisome for the when one company gets the kind of power that they do. hand, everybody loves amazon prime and there is way less likelihood that the public is going to turn on amazon than if they would continue to be very critical of facebook and google. i think jeff bezos is such a smart guy and he knows there is this increasing worry about the sheer scale of these companies. it could be an interesting way for him to function, to deal with that by saying we will split off aws and show that we don't need to be this colossus. we will be two separate colossi. it would do something that would
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appeal to the general sentiment it in society. whittling down these companies is a healthy thing in general. >> the opposite of shrieking down is expanding. i want to talk to you about a story that amazon was looking into a wearable advice -- device that could track human emotion. my gut feeling on this got a little nervous that someone could be reading my emotions based on the time of my voice. what is your take on amazon continuing to expand into these sectors? namely, this one could be health care. it is also a reminder of how broad their device service is. by some measures, they are the third biggest device brand in the united states with a .f smart speaker's this wearable device among others that they are considering. they have said they want to take their voice off to alexa everywhere and are building
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systems let that happen. has as a company that mission to be in the hardware business as well. eyeing that road to $3000. thank you. up, we head back to 1962, when television was first introduced. how the technological platform became global next. this is bloomberg.
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>> according to the wall street journal, snap is in talks to addden outweighs users can music to post. snap is seeking rights to catalogs of universal music group, sony music entertainment and warner bros. it group. the licenses would not allow snap to make on-demand service such as spotify and apple. the dawn of worldwide live television can be traced back to july 10, 1962.
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that is when at&t satellites successfully transmitted a signal between the u.s. and europe for the first time in history. let's take a look at that history. one small step for man, one giant leap for mankind. khamenei of history's most iconic moments have something in common. they were broadcast worldwide by satellite. this technical feat that we take for granted was not even possible all that long ago. the entire era can be traced back to july, 1962. the day tv went global. >> here it is. television. >> the exciting new medium of television had been in regular use since the 1940's, but there was a problem. live tv could only be transmitted by cables or by terrestrial repeaters. both were impractical from long distances. in the first half of the 20 century, a dramatic idea had
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been proposed in scientific circles. what if an object could be put into space that would act like a mirror, dancing signals from one point on earth to another. at the time, no man-made object had been in space, but technically, it seemed possible. in the late 1950's, hundreds of engineers and scientists at at&t bell laboratories were put to work on an ambitious new project. telstar.ct was called by today's standards, the designs were rudimentary and consumed less power than the average modern laptop. at the time, it was cutting edge, featuring new technology, such as solar cells, transistors, and a telemetry system for collecting data. no less impressive was the ground equipment needed to track and receive signals from the satellite. massive, yet exceptionally precise satellites were constructed on both sides of the atlantic ocean to capture and amplify the signal as it bobbed through orbit.
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in the early morning of july 10, 1962, telstar one was launched atop a rocket from cape canaveral air force station in florida. the same site from which the apollo 11 astronauts would depart for the trip to the moon will most exactly seven years later. a feat that would be broadcast live to the entire world, thanks in part to telstar. around 15 hours after its launch, telstar relayed the first live satellite transmission in history and congratulatory telephone call between the u.s. vice president and the chairman of at&t, which had funded the project. >> you're coming through nicely. >> first telephone message in the world over an active satellite. >> two weeks later, a 20 minute program was broadcast hundreds of millions of viewers in europe and the americas. >> good afternoon.
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soon we will be seeing good evening to europe on the first exchange of live programs between the television networks of the united states and the european broadcasting union. the lineup included a glimpse of a baseball game at wrigley field. >> let's get all the baseball fans in europe a big hello from chicago. >> remarks by u.s. president john f. kennedy. >> i understand part of today's press conference is being relayed by the tele-stark communications satellite. this is another indication of the extraordinary world in which we live. >> and live scenes from landmarks around the u.s. and europe. a new era had officially donned. >> telstar will now rest for 2.5 hours while its solar batteries build up energy for another epic. >> telstar celebrated this achievement and became a high-tech celebrity, praised by politicians and journalists and
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referenced widely in popular culture. that's no moon. it's a space station. >> live by satellite became a relative -- became a regular feature. >> mr. gorbachev, tear down this wall. >> with the ever present shadow of the cold war looming large, telstar rock -- marked a rare victory in the space race for the united states, which at that point had to be in by the soviet union with the first satellite, animal and man in space. unfortunately, the first telstar and -- satellite was damaged by a nuclear bomb test which led to the satellite's early demise. nevertheless, it demonstrated that live communication by a satellite was feasible, proving the concepts laid out by early visionaries. soon to follow were more advanced satellites, like a much
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higher geosynchronous orbit which allowed for 24/7 coverage, far beyond telstar's window due to its orbit path. although telstar's technology was soon eclipse, project march -- marked the first privately sponsored space mission. despite early concerns by policy about the potential domination over space communications by private industry, the success of a project in the urgency to compete against the soviet union age ofto usher in an competition between the government and the private sector that continues until today. thanks to the commercial space becomeatellites have centers of attention.
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developing satellite networks that provide broad land -- broadband internet. other new projects are devoted to everything from tracking greenhouse gas and traffic flows through the movements. is inurrently in orbit the future. spacex alone has filed for permits for a must 12,000 new satellites. meanwhile, almost six years later, the long dormant telstar one is still floating around our planet. a celestial artifact from a moment in history that launched the world as we see it today. >> that does it for this edition of bloomberg technology. we are for memorial day holiday in the u.s., but we will be back tuesday.
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member, we are livestreaming on twitter. check us out and be sure to follow our global breaking news network on twitter. this is bloomberg. ♪
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david: you have a leading infectious disease person in the united states, maybe the world. heavy times a day do you wash your hands? >> i would say maybe nine times. david: is there any evidence that vaccinations cause these diseases? >> absolutely not. david: the president asked what we could do about hiv and aids in africa. >> he felt that we have a moral responsibility. david: the best way to prevent having an infectious disease is what? >> the normal, low-tech, healthy things are the best. >> would you fix your time police? david: people wouldn't -- >>

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