>> rose: welcome to the broadcast. we continue our vacion schedule this evening wit a look at those who appeared on our program in the past year to talkbout their work and their passion and the life. tonight,ur subject is relatiships and we beg with father/son. bill gates, sr., and bl gates. >> well, my dad has s an example by what he does. you know, whether it was at the university speaking out on tough political issues or going to war or being areat lawyer. you kn, he's theone who real got theoundation going, couraged me to give early, g usnvolved in some very key causes andelped us ild what

is now a strong group ofeople at i get to wor with full time so... my dad i somebody aspire to live up to what he's done. >> rose: what do you two disagree about? >> i think my dad night give more sooner. you know, he encouraged me to start the fouation while i was still working llime and, you know, for a few years iasn't sure that was right b then with him ofring to help out, i absolutely did that, which i'm very glad did. and he emphizes with the needs ou there and so it's bn a very positive influence to push me to thi with more humility and to do more rapidly. >> rose: we ntinue our ok at relationship- both professional andersonal-- with the fashion desier valentino and his partn giancarlo giammetti joined by matt turnou

the filmmaker wh made documentarabout them. >> iollowed him, and we stayed there o days and after, when we came back, he wants to see it and he los the aience, and t way we use to work and live, this was really the beginning beginning, beginning. and heaid "my gosh, i think i'm going to erupt with my university >> rose: hwas a stunt of architecre living with his parents. >> and he said "i would love to come here and something." >>ou know, there is kind of competition in the... betwee us and i guess it's important in a relationship of any ki to try to prove always youelf to the other peon. yoknow, i'm front of a genius, i have to try at least to do something gens, too. >> rose: interesting retionships, father/son,

ofessional and business partners coming up. captioningponsored by se communications from our studios in neyork city, th is charlie rose. >> rose: bill gates d his father william gates, sr., a here. together they have had productive andlife long collaboration. the oldergates is former

lawyer and civic leader in seattle, he serves as cchair of the bil and melinda gat foundation. he's theauthor of a new book called "showing up forife" it reys the wisdo of aife spent practicing law, serving the community and helping raise three ccessful children. joining now, father and son bill gates, sr., and bill gates. i am pleased to ha them both at this tae. welcome. >> glad to be here. >> ne to see youagain. newspaper ur son know this is tabl >> yes, i know he does. it's n me. >>ose: let meust start with this. this is a sto about a famy, only two of them are here. thisis your late wife and his mother a two sibngs. >> right. >> rose: why did you wantto ite this book at this time? >> well, it's...t started off... you know, i'm 83 yrs ol i've had a lot of experiences and had a lot ofthings that i believe in and i was going to writ memo for my grandchildren d future generations, because i didt

have anythg like that from my predecsors. and as weot working on it and then i had some help wh it, pele said, wellwe should. this is betr than something... this ismore important thg to get out than to jt give to your family andfriends. we shouldee if i might attrt a wider audience. and so that's the phenomenathat curred is that people encouraged me to do th. rose: how many gndchildren now? >> eight at this point. >> rose: m goodness. you said "dad, the next me somebody asks you if you'rethe real bill gates, hope you'll say yes. i hope youl tell them that you' all the things the other one stves to be." what is that? what it the other one strives toe? >> wel my dad has set an ample by what he does. you know, wheer it was athe university speaking out on tough political issues or goingo war

or being a gat lawyer. you know, he'she one who really got the foundation going, couraged me to give early, got us involved inome very key causes and helped us build what is now a strong group of pple that i get to work with full ti. so..and my dad is somebody i asre to live up to what he's done. >> rose: what do you two disagree aut? >> i think my dad might giv re sooner. you ow, he encouraged me to start the foundatio while i was still working full time and, u knowfor a few years i wasn't sure that was right. but th with him offering to help out, i absolutely did that, which i'mvery glad i did. d he eathizes with the needs out there and it'seen a very positiv influence to push me tthink with more humility and to do more rapidly

>>ose: is it often said th parents learn by wing... that children lea by watching tir parents, but you say here parents learby watching their children. >> i do say that. and i absolutely believe it. i've experienc it and i... there e things abouttheir mother andertainly some things about me which i ve leaed from watchg them. ourldest daughters, for example, just meticulsly confent about things. >> rose: she the accountant? pardon me? >> rose: is s the accountant? >> she's the accountant,yes. and that all fits. and, you know, she's a terfic examplef... and, you kno, you think abt that when you're confronted with choices a you think, well, ifhristie were here, that's wt i'moing to do. rose: his mother had a posion for community service. >> yes. >> rose: served o the board of regentat the university of washington. >> yes. >> rose: and united wa wh was that about?

>> well, t start withit was genuine. i mean, she belved in the valu of community activy. and in addition to wch-- which isust sort of tangentalshe was also very good at . so little wonde that it was very significant part of her li. she...ut ittarted from a very serious motivation about working on things thacan be made betr. >>ose: do you rememr when he first got intested in computers? >> at this high school, where bill went to school, this was is very, very beginng kind of computer, keyboard and a teletypeort of thing, but it was fascinating toim and some ofis cssmates and they spent hours if i hadli with that thing and learning about it and ultimatelyhile he was still in highchool running programs. he and those boys who he was in

cohorts with actuallyid the programming for the high sool. they assigd teachers to classes an kids to classes a did thwholechedule for the high school. and in the course of that, arranged which girls would be in the classes they would be inas a matter ofact, as a matter of choice. >> rose: (laughs) there's merit in tre that, isn't there? >> oh, yeah. >> rose: reflectn that for a moment. because gladwell writes about . i think paul allen shared a passion for you at t time and you two went off to do something important. >>es, they... sool bought is device and the teachers found it a bitconfusing and a lot of students clustered around. i waa lot younger than most, but i'd done well on some natial math exams s people kind ofhallenged me to figure it out. and after afew month, it winnowed down th paul allen who was two grade aheadf me,

myselfand just aew others really stuck with it. and weot basallyddicted and kept learning more. so it was a phenomenal opportuny and then, of cours, paul ler... we stayedogether did a lot of things and found microsoft with me. >>ose: addiction mht be a mild teright it not? >> that's true. >> rose: (ughs) it was maniacal is that better word (laughter) >> you really learn aot. and we wanted to know w it worked a how to write software >> rose: you went to harvard. >> brief. >> rose: briefly. (laughs) >> notong enough to get a degree. but it was nice while i was there. >> rose: well, you promised your father you'd eventually get anyou did later. you go to harvard but you're still maniacal abt the computer a its possilities. paul is in albuquerque or? somewhere, is not? >> n yet. >> rose: not yet.

help me out. >> paul was actually in maachusetts as well working for honeell. and actually it wathere that the article came out in "popur mechanics" about this companyin albuquerque which had a... it actuallyas a kit for a desktop computer. and paul came runng over as i derstand the story,oill's dormitory d said "here it is, here it is, bill, re we go." >> rose: whatdide mean? >> wl,aul had spotted this computer on a chip, the microprocessor. and we'd bee talking aut that foreveral yes. d he had encouraged me, hey, let's start a company. let's start company. well i was under some pssure to go to school and do. you n be semi normal. so he cam back to boston keep convinci me wehould do it. and so actually when that

computer showed up we were excited buwe thought ow, is is happening witht us." because paul and iad seen that the combinatio of these chips and softwar could do something amazin and that'shy we immediately wrote some software and called up that company and they became our first customer. >> rose: and th younded up with microsoft and intel and you were off to the races. >> that's rig. when we did the fsts by i can... there was no looking back en though i was on li there, do not turn. >> rose: all right. rememberhat period for m because here's your so he's gone off to hvard and you thought he would atleast fish ur years. >> yes. >> rose: you and mrs. gates... >> mary yes. >>ose:... mary, had high hopes for bill. >> yes. >> re: and he' going to lve afr one year. >> well, actuay, itasn't ite that. he wasaking a semester off. so we wer't confronting the ultimate demisef college education there. was going to take a semester

off and go tolbuquerque and help paul rk there and then he would go back. and, ifact, heid take a semester off and go back. the second time after he was back for a semester,'ve got to go back to albuerque. now we're startgto get a little bit concerned. >> rose: (laug) >> and he never d go back. >> ros and how w s. gates? handling ts? >> i would charactize her as being more conceed than i. she just... she had a stronger view in her mind of is is one of my chdren, my children graduaterom college. my cldren graduaterom college. my boy is not going to graduate fr college, oh, my word. >> rose: she died of breast cancernd did not get to see this moment in wch you're asked to come bac to deler th commencement speechand get honorary dege. as you go to tpodium, you look tyour father and say... at did you say to your father. >> dad, always told you d

come back and get my degree. (laughter) (applause) and that was aun moment. >> yes. it was. it was. >> rose: if you look at that as a fun moment, subject to me in this rationship and in this business reer moving into ilanthropy that had been so of the signal moments for you and for the family. >> wl, as the business got bigger, i got advice from my dad. goin public was a key milestone. we sat aroundhe living room and talked a l about that. >> rose:ow, were you the lawyer for the firm, for microsoft? >>he law firm i which i was a partner... actual, the managing ptner, wasthe law firm that represented him in thisffering. i felt like it was wise f me to step back and let oers be the hands-on laers for the projec >> rose: just thght it was not a smart idea for fathe to be

reesenting son? precisely. >> rose: oka so going plic is o idea. >> that waa big milestone. thcontract with i.b.m. then the break with i.b. gettinto be quite large. deciding to step down as c.e.o. these are all things that, you know, i had a chance to talk to my dad about bore i decid. and then jus now a little ss than year ago actually moving to the foundation full time. and during allthat my dad's encouraging me, hey, what about the giving? when could you sta? sooner and do more. and as early as abt000, my dad volunteered and so we started a new relatnship, which wahe was looking at t letters and helping gather the team that became the foundatio >> rose: i wanto come back e foundation but i wt to stay with the idea of this

relatiship within this family. is has to do with warren buett. mrs. gates and y are having a dier party in seattl. >>t was actually a weekend at a summer home near seattle. >>ose: pick up the story. so, i mean... therine graham is comi? >> the that's right. it goes ck to meg greenfield, who many people in journalism would rember, undoubtedly you do. she was the editorial page editor for the "washington st." >>ose: and wrote columnsas ll. >> yes. and shwas a seattleite, long standing. >> rose: a friendf your wife? >> excuse me? >> rose: a fend of mary? >>o, sheasn't with someone that we had known pticularly befo. we had jt gotten t know her, probably, a ye or so before the event which we're getting t he. but me called mary and said "gee, i ve houseguests at my

place on babridge island and warren buffett and kay graha and i've... i have a weekend ahead, i wonder if we cld come visit you at your pce. on the ter." we sd sure. and that'swhat really... i an, who would want to pass up e possibility of a day with those two? and the interestg next point of course, is call bill... actually, my called bill and sa, you know, we have this wonderful overght ahead. >> rose: get meet warren ffett. >> ande said "mother, that's a friday. on friday wework at mrosoft." >> rose: (ughs) >> a she persisted a bit as she was prone to dond he said "okay, okay, i'll come over fo a couple hours inthe afternoon." d he came for a cple hours and he never left. he got so involved inis wondful conversations with warren.

soup what happened? >> to this day that begning as... was an iication of just what a great amount they had in common. >> rose: you have chapter in herebout friendip. you talk about fendship. >> yes, i do. >> ros you and iave spoken out this before. but just what ppened there? because i'm looking at moments in your life. thislearly was a ment. >> oh, it was one of the luckiest tngs that ever happened to me. it was ly 5,1991. i'taken part of thursday off because th was july 4 and i was going to work on friday. there was importantork to get done, but i creeded to my mom's rong request. ceded to m mom'strong request and i met warren a he and i started talking d he asked me questions i had always wanted somebody to as which showed a lot of understanding o okay, why didn' i.b.m.o this? and y didn't other computer compies do that? d, you know, it just arted a conversaon that continues to this day about e fascinating world of busins.

>> rose: there was, i thin i my memory serve me, you ask a question about what's the st important quality in a life and veral people said, i think... either warren or you sd focus and youooked around an the other was shang his head in affirmation. s? >> that is corre. >> bng maniacal aut somethg is very helpful. >> ros (laughs) are yo now mancal abou the fodation? >> that is my fus and. so i'm maniacal aboutalaria, aids t.b. i wi talk lonr than yo could withstand about those things because they'reall exciting things going on wit ose things and education a well. >> rose: you're hopeful about malaria? yes, there' good scientific advaes, deeperunderstanding. >> rose: did youelease some mosquitoat the ted confence? >> i did. i thght this wl len them

up. >> rose: these we not laria-bearing mosquitos? >> no. and every speec since then i've had to dece what i'm going to release. flies or.... >> rose: (laughs when you read thi, were there things and iights and... that you ha't thought aboutrom your father and from the family? or was it all stuff tha you thought other people will now know what has shad me. well, some things about dad's early life... you me, he didn't push those stories much on us all. yoknow, the... i knew nm was a great person but it came rough for what an inspiration was. so of the early things at the university, dad relationshi with his sister where you know, he felsort of guiltyhat she didn't get t same opportunities that he did. some of the early stuff i was... that was a bitf an insight, rticularly how deeply dad felt about it.

once you get io the part whe i'm in the picture then, you know, hopefully i knew what w going on. and so of thosehings. but the way he does it, it's all based on lessons and love th way it came together. >> rose: that this book came gether in terms ofheessons d showing up for lif leme go down... l me go to the foundation, whicis where yo.. you wrote in the stockhders... or the lter to your shareholders... stockholders.. >> whoever, eryone. >> rose: modeled on warren buffett's berkshire hathaway. whatid you learn from him and, b, what did you want to say about you and e foundation sort of at the mome in wch you're devoting a significany morefyour dayo? the idea a letter isto she the failures and the suesses, to kind of exhort people. you know, the berkshire annual

letter that warren does, he has a model of somebody who's srt but hasn't been folwing everyday what's going on. and so if somebody... you kw, they care about malaria, they care about education,hey want you just totally full time involved to talabout what the meure is, what's goin well, wh's not. and, younow,ere we have a lot of society's resources that are being invested in these advances and so i get a chance toay "how did the year go?" i get a chance to talk about me of the pitical policies thatight facilitate these thgs. so it was warren's idea and, you know, i put a lot onergy into doing it. it's a lot shorter than the book. mine is about 11 pages, but still... and i was glad, i got a loof good feedback and that's going to become a tradition. i'll do it every yr. >> rose: but pa of whatou saids that when you went to the fountion a lotof people

talked about howou're going to miss microsoft and it' not going to be the sa and you said "if i thought about ts more, might have agreed with them." but you found at t fndation there re some essential milarities. >> absolutely. you know, many dad hadbeen working full time athe fountion for quite some me and clearly eoyed it. but i di't know if it was i uld providehe kind of depth activity tt i had gotten used to a microsoft, which was a dreajob. and now that i'm there, i see that it's every bit as challenging, every bi as fulfilling. the people are very smart both inside t organization a outside. and, boy, we've taken on some bi big challenges. and so there's no shortage of travel or speaking or cleverness that can go into these tings. rose: you said about... back to the fily. you said about the kids, you said aut christie, your daughter chriie, you sd "i arned something from all ofy ds. from christ i arned about

competence. from libby i learned abouthe force ocompetence... i learned out the force of confidence and heart." now libby isnine years younger than bill. bill's 53 now. >> that's ght. >> rose: wt did you lrn from bill? >> oh, boy. >> ros (laughs) >> it's.... >> rose: it'shat? >> it' awesome. >>ose: awese? >> wish tha i cou say i have thesame energy to learn re on a dai basis that he does. and it s had some effect me but it is ceainly... from m point of view it's differentiing bill from the world at large, is this businessf his just insatiable.. >> rose: curiosity. >> and demanding curiosity. >> rose: you think it's his defining quality. >> i do, as aatter of fact. >> rose: you do. >> a right bind it is the fact he remembers everythinghe

learns. so for that.... >> rose: well tt's the i.q. thing or what? memory? well, learni and membering that gives him a capacy to complish things. >> rose: hers whas inresting: rupert muoch will say, as said to me curiosity is the thing th's served him bestn life. a reflection ofhat have is a coany that he'sbuilt. and being visionary, as you re. where doeshat come from? are you born with it? ist d.n.a.? is it some early childhood exposure? >> ros i think it helps to have.... >> rose: i mean, i've got it, too. >> adultsho give you sense that, yeah, you can learn anhing. theyencourage you the read books. you know, i could always get as many books as i waed, i could go to the library. had a grandmother who would ad tos. and was... you know, it was thought to be agreat thing. so eay reang led to imagine

all these situatis and start to tnk to yourself could i ever run business? could i er discover something in scice? d i do think some positive reinrcement of, hey, you, you'relever, you can do these things at a young age takes you a long w. an you know, then.. and this is a grea time to be a curio person. you know,o online, get d.v.d. coses. i mean, i envy my kids grong upight now. when my son asks a queion, sometimei don't know the answer. and we're over ther at the computer watchinthe video of okay.... rose: so how do you go about answering thquestion on th computer. your son asks you a question, dad.... what's the biggest nuclear bom well, we go a watch the video of the russian czar bomb blowi up. what's an oil refinery doin so you watch, you explain a

little b about the chemiry. it comes to lif and so... and then, you know, if he gets an answer, that ybe means he's moreilling to ask the question the next time. i think a lotof people think there isn't gointo be an answer and they let their curiosity run down. d i... with parents, with good teachers, i never got the sense that, hey, i'll get the answer somehow. >> rose: i wantoth of you to reflect where weare today. none of us have seen an economi crisis sincehe great depression, d you weren't old enough at the time ofhe great deprsion to experience it. >> i was five or six yrs old. >> rose: exactly. wherare we? what going on? how wi it change us? >> well, iny view, tre's a huge virtue in dynamic society. but there's also inetable risk

that goes with society that is dynamic. and, you know, the business of highisk mortges. i mean, that was... somebodyot on t that as a way toen hs the income of some mortgage compies. >> rose: cree new securities and sell them. and, you know, it.. that... part of freem, pa of entrepreneial activity is for people to experimentith things find something that see to work. but there's riskn those things and, sure, we... i guessthose t generawisdom is that that was a mistake. somehow somebo should have seen that coming an not let people make morage loans of the charaer of some tha we're hearing about. >>ose: and therefore what we have to do andthe leon is to create some kind of systec regulation that wil.. >> wel i guess i was going t

other direction at i... i'm not a bit sure that can sit on this dynamism. yoknow, i... my own guess is that, you know, when this is done70 yearsfrom now it will happen again for some other reason. that because of the dynamics again ofour economy. hopefully by then a al world economy >> re: well, clearly we have a global economy. >> one should not be holess. one should express hope tha we would sign structures o such insight at this kin of thing can be predied and avoided, yes. >> rose: because you live in seattle, bill lives in attle, and becae you live in the unitedtatesof america, are u hopeful for the couny? >> oh, i ambsolutelyopeful and optimistic

>> rose: all those people who sa you know, the8th century belonged to britn and the 19th century benged to the united stes, 19th, 20th, this century belongs to asia some her plac you say "wait and see because there is a unique america? >> we'll still be there. anthemportant second lookin ahead is the world as awhole will have moved up. >> rose: and we' all bter off because of that? absolutely. >> ros what do youhink about where we are and how we are addressing this csis? >> well, if we can putn forms that make the next crisis 70 years from n, i'd say that that is ntastic. that exactly what we want. the last70 years were unbelievable andou've got to hope you don't curve the kind of dynamism, innovation, incentive that led to suc great results. but we're going to have to curb some things. in retrospect, the low savings

rate, the kind of mortgage setup that we had, non-recourse 30ear fixed term, those things pushed the imbalances. i think there's more iovation ing on today than ever. and so.... >> rose: in everyarea? >> in... yes, every area. andwe build off the past. you know, if you 5 years ago getting heardisease, no, you'd wrather have tt now. >> rose: aolutely. >> 50 years ago being woman, being black, being gay. i mean this society--lthough it's very unjust-- far me just tha what we can look back . and so there is... >> absolely. yes. and that's something to be proud . we may even have se thingswe ca the most about, like accs education, t a little bit worse inhis crisis. but it only be, say, a five-year set b.c. or at worst a ten-yr set ck in terms of that level andthen we'll move forrd on

those metcs. we need to make it fter. you know, chide hd deaths are down fm ten million to five million a year. that our next step. they're down from 20 t ten and thisext step is to go from ten to five. >> rose:o we needo change capitalism >> not in some dramac way there are some particular this thatent on, but the fundentals of you create a company, you have a gd idea, you get to hire people. the kind of thing that allowed microsoft or othergreat technology companieso come along, i don't thi we're goin to do anything that would really blunt those kind of opportunities and the huge societal benefits that it creates. rose: do you have a role model in your life beyond your father? >> i'd say warren buffett as t closest thg i have to aole

model. >> rose: bause? >> because of the integri and thoughtfulnessndoy he brings to everything he does. you know i.. i'm connuing to learn from m dad, i'm ntinuing to learn fr warren and manyimes when i'm makg decisions i y and model how theyapproach aroblem. >> rose: and you're oimistic about us and notonly the united states but in sense of being ableo come out of this global economic crisis? >> yeah, i don't think... yo knowthinking in ter of which untry was dominant in which era, you know, who enjed that? >> rose: well,n fact, we benefited from the fact that they re because of the whole range of isss. >> that's right. rose: markets included. >>ou don't eny your relati posion. if everybo was healthy and wealthy, that's good. 's mankind. if china invents acure for ncer and you get cancer, you say "thank you! this is good.

we want it." an that's part of what's going on in the world, although it's been set back a bit. you have me brains thinking about betterroducts, better inventions,nd that raises the pace of the nd of innovatn that creates this. the intern for cursity or the cures th will let us get rid of malaria. those thgs are on the y. >>rose: when they cometo write the story of your life, it's going toe a lot about family, is it not? >> i expect that's right,. happily. >>ose: when they write the story of hisife, what do you think the most imptant thing they will say is? he's only3. and youe only 83 and he's only 53. or 84 or whatever. >> i don't think we'v missed much about t answer to that question. i mean, peoplere going to say this washe most curious guy that ever lived. and he was energetic. he was a hard worker.

>> ros valentino has been called the last of t great maers of fashion. his brand was defined b a sen of glamour d a passnate commitment to hand made couture. officially retired in 2007 after celebrating his th anniversy in fashion with three-day celebration rome. for two years leading up to his dramatic bow, "vanit fair" writer and filmmer ma turn newshour w given unprecedented access to film valentinond his long-time busiss partner gianrlo giammetti. th resulting filmis calle "valtino, the last emperor." he is a look at the film. (speaking italian)

>> rose: joining meow are fashion designer valentino, giancarlo giammei his business paner and matt tuour, specialorrespondent for "vanity fai and the director of this film. am pleased to ha him heren is program. welcome. congratulatis and welcome again. great to see you. >> pleasure. rose: we have all been very nervous about it and now having seen it at various film festivals, we ar thrilled, sasfied, delighted what? my dear, i have to tell you... >> rose: (laughs >> it's a great for me to have this event in new york and

people, they love it. ani have to tell you, from the beginning of the film mr. matt turnour, he was ver pushy a, indeed lots of. with the comment behind my shoulder sometis, i didn't know that he was ere. and he' cch a really moment and i woul avoid it very, very well today. but, you kno, they are in the film, people,hey like it and so i accept it. >> re: you do more than accept. i mean, you look at it and it' a ki ofdefining sense of life and a relionship. >> n i like it y, yes, yes. buyou know, i t to figure out when i looked at the film and i have seen it many, many times, if myharacter is really like this. i don't know. because i have some fight with mr. giammetti, some passion wh almy people around. don't know if i was likethis. >> rose: well, let'sind out. >> but anyway.... >> rose: is he like this,the n we saw inhe film?

>> of course he is valentino. the problem or the solution is that matt wanted to poray valentino a special way, in a human way. valentino's ways been somebody veryrotective of his privacy. >>ose: largerhan life, living in a bubble and all of that. >> yeah. this is out his work, probably but alsorotecting, didt want people to undetand his dbts, his problems, his weakness sometimes. like every other human being and matt reall pushedery much in th direction. so what we see today is a ver good eting of apecial moment of valentino, but it's not that valentino's screing from the rning to the evening or between us it's always a fight of course we have a different inion in everythi from the beginning, i mn, we m when we were really in our 20s and

this, i thin, was also theey ofhe success of our relaonship and of our compa that two people with strong character and sometimes ide complely different put together somhing so important. >> rose: h takes youack to the cafe deparis. (laughs) >>ose: >> it was my righ. i say theruth. this was in t cafe daris but in the... acrosshe street, the cafe calle done and i insist and is was the truth. >> rose: whawas the truth? >>o don... >> we don't wt to bring this... (laughter) >> rose: but you left that cafe, wherever it was, whatever cafe it was, and you were going away vacation, or he was going away on vacation to capri and you two endedp there togher? >> and followed him to capri.

rose: you followed him >> i followed m. i went to capri, too and we stayed there two day and aer when we came back he was to see my fashion house. and he loves thembience and the way we used to work a live. this was rlly the beginning, beginning,eginning. and he said, my gh, i think i'm going be rough with my universi. >> rose:e was atudent of architecture in me living wit s parents! yeah. anhe said "i would love to comeere and doomething for the fashion house, bause i am much betr than you." because i was really a disaste for business, so i never took care of an business in my fe. so i was just careful to draw, to design, to see fittings, to choosematerials. and to take care of my fashion job. and did start as a... t seco arm in that bk

potion. ba position in the see and wa notthe creation of dresses and but more the business and th publicity that we used to do, the campaign. many, ma things th they were yes creative alsoor him, too but, okay, s we did a very go job and at was the beginng of the '60s. and in '68 i did myhite llection. that me me very, very famous around the world. and,y the way jackie, she made... jackie kennedy, she made.... >> rose:? a white dress. >> yes, yes. but let me goback to capri. did you two fall in love in capri? >> i mean, fall inove? that's a b word. (laughter)

of course, we haveeen having a relationsh. >> rose: when ureceived the jean deneur, there was an acceptance speech. th was captured amangly well by your filmmaker becau the whole question i are you going to pay tribute to him. the filmmakerleaves you the pression that you don't know what's coming. >> my gratitude. (applause) (my gratitude to gianrlo ammetti. (cheers d applause) and mr. gncarlo giammetti..

(speaking fren) >> ros did you know wt's coming? i mean, because of the cutaways of you and your expression, either waiting or wondering whethethis tribute is coming. >> i imagined, i was hoping that he would menon my name. (laughter) when i start feeling that he was readin some names, i was waitin en... that's when i start to worry. >> rose: (laughs) >> didn't know if i would.... >> rose: well, there's a brill ynt cutay in which the expressi at that moment of... i'm not su what the timi was but the's an expression of that moment like is he or is he not? >> rose: it was shot irealtime actually. two cameras... >> one cera. >> rose: in film making terminology it's a sequence shot.

the camera swish pansetween lentinond giancarlo. but the story of the scene was weproduced itary badlynd we didn't have a camera position we couldn' see valentino. so i told th camera man to go on giancarlo and we intended to shoot the scene looking at swrarl's face whi valenti gave his speech. that was how w were going to save it. because this was the ture of... yes. >> ros and thenvalentino began to cry. and the cameraman ry athletically put thecamera way up over his hold witho looking at the view finr and began swishing back to valentino and ishing back and forth. d it made this extraordinary kind of film momen, but purely by accident. >> this was a very emotional moment because it' not somhing that they giveto everybody. mean, it's someing very, very important and when youare there you feel extremely important but even in time you feel ver very, very small because, don't know it was very etional. rose: and you were a young

man who came to paris when you we 17 or so. >> i was 17. but, you kno the fact is aft th gaveme one, then ias very, very proud. six months after they gave me the gold medal of the parisian citizen.... rose: that was late. >> later. >> rose: ts is whatne revier of the film said about the relaonship. th is richaorliss in "time"agazine. "the emperor might never-- that would you. themperor mightever have succeeded if not for his prime minister." that would be you. "who from the beginning n the business, ran ierference, made the deals th for much of their 45 yea was valentino's lover. they met i a cafe in 1960, t year fellini' movie made the street famous and established rome as a gomorrah of european society. valentino had just come om paris to open a salon, gmmetti was stilin college. itue add grand, contentious

life long partnership, a handsome man whose strength is revealed in whiers, swrepl seems fulfille by his pporting role. when an italian joualist asked him how would y definein one word yr choice to liv in another n's shadow you said... >> happiness. >> rose: happiness. beyond this ing, th relationsh, this friendship this partnershipthis life, wh else did you hopee'd come out of i this film? >> wel i thi... you know, we just have to say it very frankly it a glove story. >> rose: the glamourf my clothes. (laughter) >> but first we're going to talk out the universal story. it a love story, there no question abo it. and that, i think, was what i was looking above all else. >> rose: 45th anniversary, this remarkable eventthat took ace. but you have sai you're a degner. tell mwhat the idea, the sense of making a dress means to you.

give me. take me inside yr heart and your head abou making... it's a very good questionnd a question that sometimes they ask me. it's very difficult to awer, because, you know, i start very, very very young. d first i starto draw, to ke design of clothes. and i amot culpab to create anything if i am not designing it. so for me it is my passion. 's my... it was always my life to wake up in the morning o in the middle ofhe evening, if i haveome idea to put e light and to draw clothes. and creation. crtion islso another word, quite difficult. because if i think i always had idea in my mind and if i think i always limy collection quite fast. i was... i think i was one of thedesigners that's always

ready tw days or ree days before the show. i s not wh my pen in my mouth running against a drs at the last minute fore t girl e wentto the runway, you ow? and this h always been my life. ani always create my clothes like this. >> rose: but wha is this joy for you of designing a dress >> it's a big joy, because i have the idea in myind. and you know, i have a huge archive. huge archive wit thousands of designhat i did in my st. but i never go to see what i did because i di already. and i try to do new things. >>ose: so why a you stopping? >> i stopped because, you know, at a ceain point i want to live a different life. i want to take care of self and other thin. you know, i had a big passion that mbe it was going to be very soon my future to do

costumesor the theater. >> rose: and opera. >> opera, yes. i've been asd from t bshoi moscow to do la traviata. so thegave me lots of joy to able to do it. but now, today, i have to tell you that i am extremely happy that i stopped at the right moment. >> rose: becau it was the right ment? >> no, because... n, , because after t right moment because aftesix months the recessiontarts and evebody now complaining that they are not anymore like in the past. and it's a bad ment. >> for valtino the real success is not the work that was written in an articl he never read the review of his collection. never. he would ask mehow is the tribune?" and i would s okay.

les say three minutes aer it was finished but the real... at that moment... i'd say at the moment of his success, how many dresses we sd? that's whawas really making hisure or not sure about the success. >> rose: let me change this to a uple of things abo why i think ofs the character and rely interesting. there's line inhich you said thate were always under the impressi that we weren't good enou for the other one. a sensthat we want the other person to be pro. part of a success is tha we chlenge ourselveall the time. tell me about that that. just the sense... >> i tol.. maybe ventino don't agree with me, weever discsed this. t i guess that, you know, there is akind of competion in the... bween us and that i guess it's important in a

relatiship of any kind to try to prove always yoursf to the other person you kn, i'm in front of a genius, i have to try at least too something genius, to >> rose: is this true? >> yes. >> rose: tell me about it. >> absolely. absolutely. becae what he did w a ges you thing and he did the most beautiful campaign. automatically helways showed to me if i like it or not. sometimei dislike. >> rose: we see that on camera, too. u weren't crazy abou the desert. (laughs) >> but i was extremelyomfort to belve know that he was therand he would do things and sometimes i didn't wan to do it because i was mu, much, much too take by my creation, by my ladi, b my redcarpets, hollywood andverything. >> rose: i'm going to see a clip here in t moment which n which u talk about... not toeveal fears and weaknesses to the

tside world as youe always being photographed. there's a clip from the film about that. the life-style. you have an aptment in new york, off couple homes in rome, you have a home outsi of france. you have a 150-foot yacht. you ha a... whe shall itop a challenger plane. off car for your dogs. off special place for your.. no, no, no. i mean, i he, i have, i he, i have. >> rose: have, i havei have. that's exactly right, i have, i havei have. >> i have everything tt i did with mjob. nobody gavme anything. >> rose: you ened every penny of it. >> absoluly. absolutely. >> re: so the point was it the y you wanted to live... >> no, because, i d't know, when i say it at the beginng when said "women, they just wanteauty, buty, beauty" and i am somebody and i always look for auty, beauty. and my mother when was aoung kid s said this one hejust loves beautil things, jus autiful things. he doesn'tay any attention.

ifhere is sobody in front of hiand he has a little or big, that's the fir thinghe ticed. because i s always like this. i try ways do bter and better andetter. better in my hous, bter in the way i entertain, better in everhing. for this, achieved this sor of time of life. >>here itis, ist it? the sense of beauty? that's t driving force, is it not? >> absolely. >> defitely. you know, there are beautiful ings that you can look, beautiful things that you can own. he os more tn he looks. hewns everything. i mean, he likes to buy everything a that's difference. >> rose: don't you tral with... i mean, you travel with almost small entourage. >> we are fr pple. we are n so many. up? (laughs) >> we are notoo many. four people, five dogs. >> rose: we'll geto the dogs in a ment.

tell me about the ds. five pu. >> first of all, i always... in all my le i love amals. i love animals. hate hunting or people that they go to huntingn england and whater, in any places because fome animals they are very, very important. they are le us, like human beings. ani always le pugs. i n't know why. because i love the fa, they are very, very fthful, they arvery close to the master. they are nice. they are not... they sno a lile bit. >> rose: little bit yes. (laughs) >> but they are very... i am very aached to them ablutely very attached to them and they come wi me everywhere not in united states because it's too far

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