>> it is wednesday, the 30th of december. we have an update of the top stories. outputorea's factory fell, down by more than expected, 2.1% from the previous month. exports remain poor because of weak local demand. rise and the slowdown in china remain the biggest risks to the economy. the government will release its latest reading soon. off,ectronics, taking while samsung awful -- also up. spending $13y,

billion to produce flexible led iphones. the company's are in the final stage of talks with apple. intoernment investigation austrian labor unions is calling for an independent regulator after finding widespread misconduct. blackmail,suse with bribery, and theft among potential crimes. the commission was ordered by the former prime and mr., tony abbott. the opposition labor party said it was politically motivated, aimed at describing it. downdity trader noble is for a fourth day in singapore, shares falling by the most and most -- in the two months, cut to junk. concerns about liquidity. moody's says noble suffers from low profitability from its core businesses. shares of all and 60 percent this year amid criticism about accounting practices. noble has been hit by the route in commodity prices. in china, issuing its

second-highest pollution warning, a yellow alert across the east of the country. readingsembassy says in shanghai or five times above internationally accepted safe levels this morning. the blanket of smog covering at least six provinces. young people and the elderly are urged to stay indoors, the air not expected to clear until well into next week. let's leave you with a check of the markets trading in the asia-pacific. there you see it. hang saying slipping fractionally into the red. gains in shank i -- shanghai and the nikkei to 25. australia, a nine-day rally. ♪ ♪

emily: she founded a genetic testing company on one big idea, to create a dna database that could move science forward. it could cure deadly diseases. in 2013, the fda yanked 23 and me products off the market. anne wojcicki had to face a very public divorce from her husband, google cofounder sergey brin. a remarkableer, comeback with a first fda approved consumer product. new funding. a $1.1 billion valuation. joining me today is anne wojcicki. >> thank you. emily it is so great to have you : here. the last two years have been crazy. it could have been disastrous for the company. now you are back on good terms with the fda. how do you feel about where you are right now? anne: i feel great.

i am super proud of the company and what we have accomplished. i think that when you have to slog through and put your head down and there is a lot of work ahead of you and you're not going to see a reward for a couple of years, it's hard. i almost feel like we just climbed the first flight of stairs, but we're still climbing the empire state building. so we just -- there is a lot more to go. it is amazing. we are back on the market. we have an incredible product. we have redesigned everything. what i'm really excited about is that this is the first chapter and a whole new book for 23andme. emily: you have the first fda approved consumer genetic test. that a consumer can get. anne: consumers can buy things like cystic fibrosis tests without having to go through a counselor or physician. they can buy them directly from 23andme.com and get that information.

emily: this tests for things like recessive genes. things you could pass on to your kids. anne: there are things like your eye color. it is interesting and teaches people about genetics and , caffeine metabolism. that's really interesting. lactose intolerance as well. emily: i would like for you to take me back to that day when you got that infamous letter from the fda. anne: we were at an off-site planning for the future. we were all in great moods. we hired a great number of people. we had a lot of people that had started that week. what we learned after that moment is how much there was a disconnect because of what we thought we were doing and what the fda needed us to do. emily: did you think you could lose the company? anne: it took a while to understand. there were probably about six weeks where we talked to a number of lawyers. we talked to the fda. we talked to groups. it became clear that there were

not easy options forward. emily: did you consider selling? like seriously consider that? anne: the idea that genetic testing will be a foundation for health care in the future was core to my being. i am wedded to this company for the rest of my life. i was not interested in selling. i was not interested in closing up shop and saying this is too hard. we just need to say that we needed to refocus. we need to hire the right people. we have a major miscommunication. we need to make sure we are executing the right way. emily: it was an arduous process. you hired a regulation chief and people who could better interact with washington. how did you get there? anne: it was me picking up the phone and calling everyone i knew and said what are the right lawyers to talk to in d.c. or the heads the regulatory offices? how can we figure out the path moving forward?

kathy had a tremendous amount of experience with genetic health. she understood genetics. she understood the fda and added a level of structure to the company. people can see the path that we were taking and wanted to join on. emily: there is so much more you want to accomplish. the test for breast cancer and alzheimer's, those have not been approved. what is the progress? anne: that is the top my priority list. customers really want those results. we are talking to the fda about what that path will look like to move forward. i don't have any updates. emily: your original idea was to give consumers access to their own data and amass so much data that you could move science forward. you say now you have one million customers. is this the biggest dna database out there? anne: it's the biggest being used for research. again, what was exciting for me about what we were trying to do

a hypothesis. that if we have the world's health care data and all this genetic information, everything about what you eat and exercise and your medical condition and what you respond well to, that with all this information we are going to understand patterns and understand the genetic basis of disease and understand the basis for why you might respond to a therapy or why you don't. in my dream world, i walk into the physician and they say based on the data you have given us, you are a couple of years away from being diabetic. then if you want to make that , change, you need to do x, y, and z. that's my hope. you can actually have so much data and understanding your predisposed risks that you can make conscious choices about what you are doing on a daily basis to mitigate those risks. i has been a critical part of your story. you are divorced and you have two kids and two companies. how you go through a process like that?

♪ emily: your dad was a physics professor and your mom was an educator. tell me about your upbringing. anne: it's interesting. i grew up next to people who did not do things for money. they did things because they loved it and were really interested in.

they were constantly questioning. the idea that you question all the time, that is core to me. emily: your sisters are successful. a ceo and an epidemiologist. how do you all relate to each other? anne: we see each other a lot. in my world, nothing has changed. my sisters are still my sisters. when they come for dinner, they steal my clothes, especially my sister susan. we see each other at events all the time. now it is really fun. we are both invited. let's go. we went to the oscars together. emily: awesome. what was it about your family that raised three very successful daughters in completely different disciplines? anne: the core element is that we do what we love and we take feedback very well. there are few things people can say to me that would insult me or i would take offense at. we were raised in a way where we became relatively confident in ourselves.

none of us do things just for the money. we do things that we really believe in and are passionate about. emily: you went to yale and majored in biology. you were also a competitive figure skater and hockey player? you went into health investing. you were a health analyst. anne: i got a job offer on wall street and i originally said no to the job. two weeks later i called them , back and said i think babysitting is not that interesting. maybe i should go to wall street. emily: how do you go from wall street to silicon valley? anne: i was an investor for 10 years. understood how the health system worked. the more i dug into it, the more i recognize how much it's a business. i went to a meeting in 2005. there were 1000 people working on how they could maximize the billing outcomes so that they can take home as much money as possible.

i just realized that the system is never going to change. for me that was me throwing in , the towel. as much as i'm investing, the health care system that i am seeing and investing in isn't the health care system i want. it was all about start of -- about starting a movement. the consumer has a voice. emily: at a certain point you meant sergey brin. the cofounder of google. anne: they started google in my sister's house. they used to joke that i could not avoid him because he was always there. we would be washing dishes and see them in the other room. they were just there. i used to hang out at google all the time. for one, my sister was there, there was free food, and it was fun. i got to know sergey. emily: what was that like? being on the front line of the founding of google? anne: i think sergey and larry, timespent a lot of

together. they did not start it because they wanted money. they started it because they had the dream of having a world of information on their laptop. they could have sold the company and then be professors and life would've been good as well. they did things in their own way. secondly i would complain to , larry about the health care space and how much i felt like health care was dysfunctional. he said, you're either part of the solution or part of the problem. that was when i was called to action. that was very much them. if it is bad, you fix it. emily: one thing you discovered early on was that sergei brin was predisposed to parkinson's disease. that became a critical part of the story of 23andme and how you communicated what you were trying to achieve. anne: the discovery came out just around the time that we were starting 23andme. i had talked to some external physicians and scientists about getting sergei tested. i was talked out of it.

they told me, what would you do with the information? even if he did have it, what would you do? again i found that really , offensive. how dare you tell me what information is valuable for me. it should be my choice. i joked. it was convenient that we had a spectacular science team. they put the mutations we were looking for on the chip. i remember that i was sitting at the kitchen table. i called one of the scientists. i said, i think he has this mutation. is that what that means? his mom has two copies, is that what this means? they were surprised. they had not seen a lot of people that had two copies of sergei had one. getting that information, that catapulted us onto a new journey of getting involved with michael j fox and starting the 23andme parkinson's committee. -- community. italy: you say you have discovered new insights about parkinson's that could lead to a new cure. anne: we made some headway on parkinson. we have someone who leads the parkinson's team.

we have some projects we are talking about doing. really understanding the genetic mutations that sergei has. we are talking about some of the big things that we will be able to do there. emily: sergey has been a critical part of your story. you are officially divorced. you have two kids and two companies between you. when there is so much wealth involved, and you are under so much scrutiny, how do you go through a process like that? anne: it's complicated. that's all i can say. it's complicated. divorce is never easy. we are very good friends. we see each other almost on a daily basis. we are really supportive of each other. it's the new reality for relationships. emily: you are a single working mom. do you have any advice from this time of your life? anne: you just have to accept that you do the best you can. my mom would call and ask what you doing?

i would say, it is 10:00 at night and we are eating ice cream. they're not going to bed. we just needed ice cream. there are moments when it's hard. you do the best that you can do. i think that part of it is being gentle on yourself. you can't necessarily do everything. part of what i think we have done really well, you optimize finding the best in everyone and focus on the friendship. emily: you live in this silicon valley bubble. you do seem so normal. how do you stay normal? anne: you stay focused on the things that are important. i volunteer in the school. i make sure that the kids do their homework. i see my family all the time. i still see all of my friends. italy: you have been really active, and your sister has as well, with this issue with women and technology. and the lack thereof. how much progress have you seen and how much needs to be done? anne: there is an imbalance and it needs to change.

that to me is a 10 year issue. the other issue that is bubbling is ethnic diversity in tech. you don't have to be the best at something in order to have an impact. everyone is really good at something. it's important that women know what kind of roles they can have in tech. part of my job and my sister's jobs is to not be intimidated. there are men and women and then --. you try to work with the men and women. you just avoid. they can be people that you need to support you. emily: what do you think about the situation that is unfolding? ♪

emily: i do want to talk about theranos, given your dealings with the fda. what do you think about

elizabeth holmes? and the situation that is unfolding. anne: i have spent a lot of time with her. i have a lot of respect or her mission and what she is trying to do. i have stayed out of knowing the details of it. i think health care is changing quite a bit. i think that people are always going to be skeptical. the onus is on us to be very -- really transparent. emily: i understand what she is trying to do is hard. after 12 years, should it be -- more evil all evolved at this point? anne: i can walk into any center and i don't need a physician. i can just get my information. i think people just want to see and understand the technology and understand the data. i get that concern. people are making life-and-death calls based on this data. they want to understand the why. emily: this is a $10 billion company. people think it is a fraud. do you think it's a fraud? do you think this is possible?

what she is trying to do? anne: i'm sure it's possible. everything i know, she works incredibly hard. i have seen her discipline and how much she is working. again i'm not close enough to , the company to know about the technology. it's what everybody wants to know. everybody is excited about the potential of new technology and people want to understand what the technology is. emily: how do you walk that line between protecting your technology, your trade secrets and being transparent? , anne: she is not required to have the transparency that people are asking for. that's part of the disconnect. the fda has put out guidance, where they are trying to regulate the industry. if that is the call they are making, it will be good to have that same transparency across all diagnostics. when you are in the middle of a crisis situation it's hard to , ever evaluate. that is why it is the media's job -- you guys are all digging in. part of it is that when the

truth comes out you are executing and you have more fda approvals, the things will speak to the reality. right now, there is a lot of discussion. emily: let's talk about the future 23andme. you know share data with pfizer. the goal is to incorporate this data into drug discovery. how is the drug invention program going? anne: i love it. for me, i am super excited about it. for people who have a disease, with an unmet need -- parkinson's is obviously one. any of these autoimmune diseases, if we can use this data to translate that into something meaningful, that's a spectacular reward for our customers. emily: what diseases are you focused on? i know you are doing a lot of work on lupus. anne: we are doing lupus with pfizer. we have a number of partnerships that we are doing with pharma companies. lupus and inflammatory bowel disease and parkinson's, we are

about to launch a few others. emily: are you going to do human testing yourself here? anne: what we want to do and ,hat we want to do with pharma it will react best if we come to them with a target or a compound with some clinical background. some data about how that is functioning. there is a higher likelihood of success if we can come with that level of information and move that forward. emily: you would do human testing here? anne: we would start doing some of our own clinical research for sure. emily: there is some competition out there. ancestry.com does something similar. they have a partnership with calico. do you see google and calico as competition? anne: no. everything here is based on genetics and in gauging the consumer and making interesting, engaging products on them. calico is focused on anti-aging.

i always wish all these companies well. i think it will expand the entire industry. and i want to translate this information into meaningful therapeutics. i want to come and say we developed the cure for lupus. when i think about my success moment, it will be when we have that kind of cure that came because millions of people came together and shared their data. because of that, we were able to create something. that to me is eureka. emily: any plans to go public? anne: i am not eager to be a public company. i am not opposed to it at some point. it's a matter of finding the right time. we will definitely figure that out. there are definitely pros and cons. emily: is there anything you would have done differently? anne: for sure. every day. we hired andy page as president. we almost hired him five years

earlier and we should have. , we would've been much better. there are definitely easier business models than what we chose to do. but we believe so much in what we are doing and in the long run it will have a massive impact on society. i think back on when we started the company, we had the lone voice. "own your data data," and it would echo. the fact that it's there, it's happening, and i see the world where like 1996 when the internet was just starting. it is virgin territory. it's all starting to sprout up. there really can be this consumer health care world that is just spectacular and creates something parallel to the existing world. so it is super complementary, but it is going to reflect more of what we actually want for our health care. emily: thank you so much for joining me. anne: thanks to you.

♪

narrator: our world today is wealthier than ever. but not everyone shares in this wealth. today's young business leaders are challenging this. changing the way we think about money -- its power and its purpose. this is a new generation. this is the new philanthropy. ♪

zach: what drives me every day to help others be successful is family and friends. supporting those things. making those people proud who have had a big influence in your life. narrator: the hottest ticket in new york isn't to the mets or the yankees. it is an invitation to an exclusive club in chelsea where once a year, some of the brightest and most successful young professionals in the city meet for a good cause. this lucrative event is the brainchild of a 30-year-old investor named zach coopersmith, and he believes that partying hard can redefine philanthropy in america's financial capital. >> you're in an organization that must operate with the heart of a charity and the mind of a business. that's zach. zach: my name is zach coopersmith. i from chevy chase, maryland. i am a partner in a small private equity firm.

we invest in lower middle market, distribution companies. i enjoyed business. i enjoy negotiations. i enjoy the hunt and the thrill of the chase of success. ♪ zach: so i worked at lehman for a year and a half right out of school. i was 22 when i was there, and my responsibilities, i would like to look back and think i had these grandiose responsibilities. but it starts out getting coffee and keeping track of spreadsheets. they were very good at giving responsibility quickly to young people. you are thrown in the fire pretty quickly. working to build models and to track performance of businesses, and then very quickly given your own book and p&l responsibility, where you are responsible for investment decisions and trading decisions.

i was going to california for the weekend to go to an ohio state football game at the rose bowl, and i remember landing back from my california trip sunday night, and flipped over to my bloomberg account, and it was just red, all caps, red, all caps. breaking news, lehman filing for bankruptcy, chapter 11 protection, next, next. oh, my god, how did this happen? how did this happen? the trading floor was full of people taking stuff out of their desks and putting it into boxes. people were smoking cigarettes and drinking liquor. there were pizza boxes were everywhere. it was quite a scene to be sitting on the fourth floor of the lehman brothers and watch everything around you kind of collapse. when it through no action of myself, anyone on my floor, really anyone in my building, the main reasons that lehman collapsed. that was eye-opening for me. ♪

zach: when i was there, was i happy? i was happy at times, but i was not happy making a career working at lehman. it was frustrating to be investing in businesses without being able to help impact those businesses. we would own $10 million of bank debt of general motors, but i had no impact on the future of general motors. i much more cared about what was happening with the actual business. i won't call it an epiphany, but it was frustrated by the lack of impact and change we could have on our investments is what started me down this path to form leading ridge where we have an impact and the ability to affect change in our portfolio. ♪ for me, starting leading ridge was about regaining control of my own destiny. whether i am successful or not, at least i will have control

over that future success or failure, and i was ok with that. ♪ david: i am david hughes, president and ceo of rugby architectural building products. we are a nationwide distributor of specialty building materials. we operate 28 locations across the united states. we are selling a lot of markets now. we bring it here, and we have u.s. distribution for that. our relationship with zach coopersmith and leading ridge capital started in august, 2000

2011 when zach invested in rugby. through growth capital provided by leading ridge partners and affiliated investors, we have grown the business to approximately 300 million in sales from 76 million in sales. having partners like leading ridge and zach -- it has been a special relationship. there has been good chemistry. i think we have been able to grow faster and handle more opportunities as a result of my partnership with them. >> hey, buddy. >> what is going on, man? >> just keeping dry. zach: what we do is help solve problems for small businesses. we have been able to provide a solution for a number of small family businesses that have met that the employees keep their jobs, the customers keep their suppliers, suppliers keep their distributors, and all told successfully grow those businesses and continue to provide more opportunities for their employees. ♪ david: zach is wise beyond his years. he is not much older than my kids, so i think about that, how young he is. he is obviously a very bright guy. he provides a very good

perspective because the challenges business decisions, he is always asking questions. zach: what i love about what i do -- you really get to know the people you are dealing with and get to make it more than just about a spreadsheet, more than just about a business. it really becomes about their family, their wife, their kids, their aspirations, their goals for life after business. ♪ david: so there is still some cleanup to be done here. zach: when the time is right to be able to help others, waiting until the time might be perfect, until you are 100% comfortable and you know you never need to earn another penny in your life -- then it is too late. when you have the opportunity to write a check or have the opportunity to volunteer and make a difference, take advantage of that opportunity. there is never a perfect time. ♪

♪

narrator: investor zach coopersmith has used his skills to help transform the investment cene in new york city. it has taken him from wall street to the companies that made up the nuts and bolts of the american economy. zach: how are you? good to meet you. narrator: business has been in his blood from an early age. warren: my name is warren coopersmith. i am 69 years old. i am zach coopersmith's dad. our family business was mainly selling candies, snacks, and goods to movie theaters. it morphed into selling into video stores when they started coming about. we experimented with other things, tobacco, fancy foods, some failures, some successes. zach: my earliest memories are working in the warehouse of the candy distribution company. i got paid a quarter an hour. we grew up, summers and weekends in the family business, and always talking about business.

everything i know in business, i learned from watching my dad. watching him wake up at 4:00 in the morning loading trucks for 25 years. he has been through a lot. the house was mortgaged twice for the business to be successful. all kinds of sacrifices to be made. but he was always at my baseball game, my soccer game. he was able to find that balance. i think i tried to emulate that a bit. work is important, being successful is important, but if you miss the rest of life, it's all for nothing. warren: zach's early business ventures were numerous. he started selling rocks that he would take out of a person's garden and try to sell it back to him. he was age 2 or 3. he had some success there, but no investment, so i guess that was an incredibly successful venture. that moved on to selling paper

products in the neighborhood. since i stuck them in the stocked them in the warehouse he put samples , together. it actually grew a little bit, he actually had an assistant in the neighborhood, put these little packs together, and he would run around the neighborhood. he did all right with that type of thing. zach: if you want to talk about the first llc that was formed, i had a moon bounce rental company that i started off with a friend in my sophomore year of high school. we were 15 i guess when we started it, borrowed the money from our parents, bought a moon bounce. formed a business, insurance, the whole bit. six months in, we had no business. we sat down and said ok, what can we change? then we opened up the yellow pages and made phone calls, and that day we booked 14 jobs, which was a month and a half or two months of work in like a six-hour period. we were running around the basement. i remember it like yesterday. james was my partner, high five.

we were going absolutely crazy. i went to college a few years later, and we were able to sell the business for more than we had invested into it at the end. even though it was on quite a modest scale, it was starting a business from scratch, and we ended up selling it three years later for a profit. ♪ zach: as far as an early influence with philanthropy in my life, it would be my parents. again, i think from a very early age, it was instilled in me that when you are blessed in a way that allows you to help others, it is your duty to help others, whether in a small way, a big way, or somewhere in between, it is critical to do so. the first memory i have of philanthropy was a small county fair in virginia where we sold popcorn and cotton candy to raise money for a group of special needs children in the area. we woke up at 4:30 in the morning, went to the fairgrounds, set up shop, sold

cotton candy and popcorn for a dollar apiece and raised a lot of money to me at the time, to donate the money. we did it for a number of years. that was from the ages of 4, 5, or 6, early on, though, small dollars in the global philanthropy, the lessons learned, the values on philanthropy and the importance of philanthropy were certainly instilled from an early age. warren: you either within you have the instinct and the desire to give and share, or you do not. i think there should be a desire within that if your lifestyle changes and you are able to, and then you want to give back. ♪ zach: really no different than when we go look for a business, to buy. i was looking for a charity to

partner with and attach myself to, and make a wish was a very well known organization, a very fiscally responsible organization where most of the dollars donated go toward granting wishes, and most importantly, i love the mission, what they did, why they existed. the impact they had on families and on children. ♪ [cheering] ♪ pat: i am pat clemency. i am ceo and president of make-a-wish in new york. the mission of make-a-wish is to grant wishes for children with life-threatening medical conditions, to enrich the human experience with hope, strength, and joy. we understand the importance today of the wish experience. it is part of patient care. we also understand its impact, not just in that moment, but

over the lifetime of a child, of a family, of everyone in the community who has been touched by that wish. you become a better theraiser, philanthropist , more personally involved with the mission. impacting children and their families. ♪ zach: toast to wishes started six years ago. i was sitting around with a few friends and just saying hey, we go out in the city and we have fun, wouldn't it to be nice to go and try to have fun but do some good while being together? we felt like there was a void in the market, so to speak, of really fun charity events that supported great causes. just like a business finds a void in the market and fills it, that is what we did here by starting toast to wishes. we created a fun event that people love to come to,

supporting a charity that people love to support. we minimize cost and maximize the chance of success. the way it was set up, there was a venue that was going to close otherwise, so there was no opportunity cost, all the liquor and food was donated all the , music was donated, all the auction items were donated, so the only cost was having the -- paying the staff there that night. how badly could it go? what was make-a-wish's reaction when i first approached them with this event? i guess their reaction was been there, done that, not going to work. you need to be persistent. if you believe in something strong enough, don't take no, and continue to push until you get what you want. for me, it was worth trying to help make-a-wish, trying to help kids trying to grant wishes. , do not stop me from doing that. we are going to be successful. we are going to raise a lot of money. let us raise the money. ♪

♪ narrator: investor zach coopersmith was on the board of make-a-wish when he spotted a gap in the new york philanthropy scene. the result is an annual party. it is attended by some of the youngest and richest at leading lights. zach: first of all, welcome, thank you so much for coming. we set out with a goal of $10,000, and hopefully have 150 people show up, and the first year we raised $45,000 and sold the venue out with 220 people. we were beyond excited. it was a cool spot, open bar, great food, small auction, and everybody had a great time. into a really neat, annual event. we are now in our sixth year. we have raised $1.5 million. we have 600, 700 people every year. we continue to sell out. we are looking for a bigger venue that is still a lot of fun.

people come back because they love make-a-wish, they love making a difference, and they love having fun while doing it. does,k that is what it give people an avenue through which to donate money to a great cause, and for that, they are appreciative. and by the way, they get to have a whole lot of fun while making that difference. and the average wish costs, it moves around a little bit, but it is about $8,000. you can take $1.6 million, $1.7 million that we have raised, that is a lot of wishes. ♪ pat: that very first year when zach and his friends raised $40,000, that in itself is pretty good pretty remarkable , for a first-time event. next year, when it raised $175,000, i think everyone really sat up and took notice. i think what was so remarkable about it is that you could

already see how important this event was, not only for raising money but for building the next generation of leadership for make-a-wish, and really creating a long-term commitment for the cause. zach: i have been involved with a number of wishes. the one that came to mind that really was a life-changing experience, and i do not say that lightly, with a child from salt lake city named jacob. becky: i am becky shelton. my son is jacob shelton, and he is a make-a-wish child. and that's how we know zach. ♪ becky: we lived in a rural area town, so doctor's appointments were 2.5 hours either way. so, i got very good at getting the kids breakfast, putting them on the bus, driving to the doctor's office, getting back.

getting the kids off the bus. that was our daily routine. zach: jacob was battling illnesses his whole life, and his wish was to go to "sesame street" to meet elmo, and he came from salt lake city with his mom and his mom's friend to meet elmo, and the make-a-wish people teamed me up with the family, with becky and jacob and her family to go to sesame street. becky: when jacob saw elmo, it was like his blankie, his soft thing, his place to go, so whenever he was sick, whenever we had to have a procedure done in the hospital, our go to thing was an elmo video. that would take his mind off what was going on for a little while. elmo was his happy place. elmo was where he felt safe. zach: he got in the limousine, put the wheelchair in the back, got him into the limousine,

becky pulled off his shirt and stuck a feeding tube right in his stomach. it was something i had not seen before, something i had not been exposed to, and wow, things just got really real, really fast. ♪ zach: it was really a special time. it was not go meet elmo, shake his hand, and call it a day. we were on set for six hours. jacob got to meet the camera man, he got to go backstage, he got to meet the puppets. ♪ zach: he was interacting with the muppets like they were people. >> you are in my heart forever now, jacob. right here, feel my heart. ♪ becky: his face was as bright and the smile was as big as i had ever seen, and those eyes could light up the world. and he just loved it.

he was jacob -- not a care in world. he was jacob right there with his buddy. zach: you realize what they have been through as a family, and it makes you realize the trivial issues that we deal with on the trading floor at barclays, goldman, or i deal with with our companies day to day. just how trivial some of those issues are. they are not meaningless, but look at what this family is dealing with, what they are seeking to overcome and you look , at those hurdles and your hurdles, and it makes your hurdles easier to jump over. ♪ becky: there are moments that now that jacob has passed away i have. and those memories will always be with me. for that, i will always be -- forever be grateful. ♪

zach: putting on an event is very similar to planning a business. we talk about leadership, how do event and end up six years later with an event that looks like what we have today? it is about leadership. it's having a group of people who are passionate about what they do, passion about the cause, the vision, the mission, and rally people around them, and that is what we have done. it's no different than as ceo of one of our businesses or what we try to instill in the management of our businesses. it's the same thing here. let's get a group of people get , them excited, get more people around us, get them excited, and continue to grow. that is what we have done with the event. that is what we have done with the new leadership council, what and what our successful businesses have done within their companies as well. pat: i think the new breed of philanthropies is really asking questions about not only wanting to participate and give time or give money, but really looking at the opportunity to see the results of their work.

so, if anything, i think they are bringing a sensibility about understanding the impact of where they make their donation of time and money. zach: my personal approach to philanthropy is really to generate as many smiles as you can for the dollars to which you are donating and raising. and i did not want to wait until later in life to be able to make a difference. at the end of the day, we are here for the mission of make-a-wish, what make-a-wish does, the impact it has on children facing life-threatening illnesses. ♪ neighborhood by neighborhood, area by area, our generation really is making a bigger difference than maybe past generations have at this age, and we will continue to make even a bigger impact. ♪

south korea's factory output so more than expected. finance minister said the fed rate rise and china remain the biggest risk to the economy. downdity trader noble is for a fourth day in singapore. we are seeing shares falling for nearly two months after the company was cut to junk. movies loaded its rate from