announcer: the david rubenstein show, peer to peer conversations, is brought to you by state street globaldvisors. there is opportunity in complexity. david: you have been the c.e.o. more than 10 years, and most ceos of fortune 500 companies are five years or so. so you have done very well. the stock is up 67% since you have been the c.e.o. harder to be a c.e.o. now than 10 years ago? indra: i think when you look at the world the last decade, the financial crisis in fact changed the world enormously because you had since then really the world has not recovered from the financial crisis. you have had geopolitical upheavals and technology is rewriting the rules. what kinds of jobs will you keep in the company and how are you going to digitize the value chain and how will e-commerce impact the business? there is some technology impacting every part of the company. so in the last seven years in particular, it has been a real challenge to run a large company because you have got to be a foreign policy expert and technology person and got to be on the front line and talk to the front line and wo

said, of all of the diseases, why should -- i will take a tax. ♪ david rubenstein show, peer-to-peer sations, is brought to you by state street global advisors. there's opportunity in complexity. david: your view is the best place in the world to invest is still the united states? mr. buffett: it is the best i know of, and it has been wonderful. nobody has sold america short since 1776. and enjoyed what happened subsequently. we had roughly 2% or slower roughly 2% orad slower growth the past four or five years. is it possible to ever grow 5% in this economy? mr. buffett: there will be some years. but 2% growth, if you have less than 1% population growth, means in one generation, 25 years, we will add $18,000 gdp per capita, family of so we are just 4, 70 $5,000, beginning. 1%, my life has had a lot of -- a product of compound interest. it may be better to do it at higher rates, but if you already have a prosperous economy, and we have the most prosperous economy the world has ever seen, and you keep compounding it, over time, people will be living far better 20 years from now than the

. ♪ announcer: the david rubenstein show, peer to peer conversations, is brought to you by state streetbal advisors. there is opportunity in complexity. ♪ david: i just want to talk about your background. so your father was an engineering professor? eric: international economics. david: you grew up in virginia? eric: yes. rural virginia. david: what made you want to be an engineer? eric: i was a boy at the time of the space program where everyone wanted to be an astronaut. in my high school they had a terminal, these were the old teletype, and my father had the good thought to get one for our house which is highly unusual at the time, so i was spending every evening working at programming. today, if i was a 15-year-old at home i would have five personal computers and the super network and a sound blaring out of the speakers. david: you went to high school in virginia, must've done pretty well to get into princeton? eric: well, it was easier back then. david: you knew you wanted to be an engineer at princeton? eric: i actually applied as an architect and when i got to princeton i discove

"the david rubenstein show: peer to peer conversations" is brought to you by state street global vise source. is student in complexity. david: some people who might be atching this would say this person has in all a woman had has become the c.e.o. of a great husband nd has a married to for more than 30 years, two happy and healthy are employed and is it possible for anybody certainly a woman in our society you feel all and do like you have had it all? indra: on a relative basis yes i have had it all. a relative basis i'm very fortunate to have a wonderful very d, two great kids tightknit family and awesome job and great team. here around stay here lots of tradeoffs and sacrifices under the water a lot of damage but i have had the strength to power through all of that. can you have it all? that is the big question? in this definition. i think if you have the right system and understanding spouse and you want to be married, if you are willing to tradeoffs that you need it make you can have it all. that ile you do all of there will be heartaches and pain and there will be some damage.al

but he likes to be higher up on the list. >> david rubenstein david is brought to you by state streetlobal advisors. there is opportunity in complexity. i've spent my life planting a size-six, non-slip shoe into that door. on this side, i want my customers to relax and enjoy themselves. but these days it's phones before forks. they want wifi out here. but behind that door, i need a private connection for my business. wifi pro from comcast business. public wifi for your customers. private wifi for your business. strong and secure. good for a door. and a network. comcast business. built for security. built for business. terre: we asked some of the best minds in the world from business, government, the arts, and academia, what are the most urgent problems facing humanity, and how do we solve them? the result is "big problems/big thinkers." what is the number one major problem facing mankind? >> i think is the lack of education. >> politics has been getting dumber and dumber. >> there is a balance of green spirit. >> if we don't have a more sustainable way

. ♪ announcer: the david rubenstein show, peer to peer conversations, is brought to you by state streetlobal advisors. there is opportunity. david: over the years, you bought many companies, like the "washington post." how did that come about? mr. buffett: in 1973, the washington post company had gone public in 1971, about the time of the pentagon papers. but in 1973 the nixon administration, through a pal of nixon's, they were challenging the licenses of two of the four television stations. so the stock went from 37 down to 16. at 16, there were about 5 million shares. that was for $80 million. no debt to speak of. so the washington post company, intrinsically worth $400 million or $500 million was selling for $80 million. it was ridiculous. you have a business unquestionably worth five times what it was selling for, and mr. nixon was not going to put them out of business. david: when you are doing these analyses, then and now, do you have computers that help you? in those days, how did you read about the washington post, and how do you do it today? mr. buffett: same way, but fewer opp

. ♪ >> david rubenstein show, peer to peer conversations, is brought to you by state street global advisorsere is opportunity in complexity. ♪ david: over the years you bought many companies, stakes in companies. one of those companies i know very well is "the washington post." how did that come about? mr. buffett: in 1973 -- the "washington post" company and gone public in 19 some new one, right about the pentagon papers. but in 19 some e3, the nixon bebeistration through rebozo were challenging the licenses of two of the four television stations. the stock went from 37 down to 16. at 16, there were about -- it was selling for $80 million. it was ridiculous. -- that included the newspaper, other assets. the washington post company, intrinsically worth $400 million or $500 million, sold for $80 million. it was ridiculous. it was unquestionably worth five times what it was selling for, and mr. nixon was not going to put them out of business. david: when you do analyses, then and now, do you have computers that help you? how do you read -- did you get printed materials? in those days, how did

the david rubenstein show explores the choices of most influential people.stein travels the country talking to leaders to uncover their stories and their path to success. this week's episode, the pepsico ceo. >> not long ago, an activist showed up. the activists said, maybe you should spin off your frito-lay business, your snack business. what was your response and how did you keep the activists for -- pretty happy? >> my job is not to keep an activist happy. my job is to make sure the company is managed for the next generation and is performing very well. if the activist is happy in the process, so be it. i am an internal activist. i own 33 times my salary in pepsico stock. my entire net worth is in this company. emily: indra nooyi there, chairman and ceo of pepsico, also weighed in on the present question of work life balance. >> is it possible for anybody, certainly a woman in our society, to have it all? >> i think if you have the right support system, if you have an understanding spouse, if you want to be married. if you are willing to make all the trad

the chairwoman and chief executive recently spoke with david rubenstein in the sixth episode of the davidstein show. the two discussed changes around the world that have made it more challenging to run a global battle to hit on the defend and activist investor to break up the country -- break up the company. >> most ceos are ceo for five years or so. the stock is up 67% since you have been the ceo. is it harder to be a ceo now than 10 years ago? look at the world in last decade, the financial crisis changed the world in norma slate. , theave had since then world has not recovered from financial crisis. you had geopolitical of peoples all over the world and on top of that, technology disruption is rewriting the rules of most companies. what kind of jobs are you going to keep in the company? how is e-commerce going to impact your business? there is some technology impacting every part of the company. this last seven years in particular has been a real challenge to run a large company to be ayou have foreign-policy expert, a technology person, you have to talk to the front line in two world

emily: david rubenstein travels the country talking to leaders to uncover their path to success. the third part of this six part series wednesday at 8 p.m. eastern. competition to reign over the internet of things is heating up. one company looking to make it smart is formally c3 energy, which closed a funding round. their aim is to connect a fracturing equipment, medical devices and all the other commercial quitman used by the world's largest companies. funding peaked, hitting a whopping 3.2 billion dollars, but the numbers are expected to decrease this year. joining me to discuss the iot landscape is the person who founded steeple systems back in the day and worked at oracle before that. thank you for joining us. how do you respond to this idea that the hype around iot is dissipating and that some of it is just hype? tom: i've been in the information and technology business for decades and i've seen it go from internet computing to cloud -- each of these was an entire replacement market. the next generation of computing is all about smart connected devices and the internet of t

emily: a programming note, in this week's david rubenstein show, david sits down with the alphabet executiveic schmidt. they discuss cyber security risks from russia. >> do you think the united states government is better at cyber terrorism than other governments are against us? >> the one that i worry about the most about right now is actually russia. if you look at their actions in the last few months, they've done a number of very publicized invasions of tax and alterations which can only be understood as cyberactivity, and they are not shy about it. they don't mind people knowing about it. this must be part of their strategy to keep in our face. emily: you can watch david rubenstein's full conversation with alphabet executive chairman 8:00 p.m. eastern on bloomberg television. more of "bloomberg tech" next. ♪ emily: china web giant tencent reported earnings. profit missed, but revenue beat, and that is due to smartphone games, performance-based ads, plus payments and cloud services. peter alstom covers the company for bloomberg news and joins me now from our tokyo bureau. tencent has tri

emily: a reminder, catch the david rubenstein show featuring indra nooyi tonight right here on bloomberg coming up, we take a look at new innovation lanes at 3 u.s. airports and break down what some airlines are doing to create new bag technology. this is bloomberg. ♪ on a: now to an update story we have been monitoring, a judge has ordered avx or pilots to end their strike and get back to work. walked off the job tuesday protesting alleged staffing shortages and more than two dozen flights were challenged -- canceled. the return comes on the eve of one of the biggest online shopping periods, from thanks giving to cyber money. another consumer travel, in the u.s. the holiday season is upon us. for many, that means bracing for long airport security lines, hoping your luggage arrives when and where you do. but thanks to some tech innovations, this year's journey could be smooth sailing. >> is nothing worse than being when a to do, this, when all you see is this or this. three major airports in the united states, in collaboration with delta, united, and american airlines, have installed so-

. >> reporter: financier david rubenstein has donated millions to restore the lincoln memorial. giving $18.5 million to the park service to repair this memorial's stained walls and leaky roof and to scrub clean two iconic murals and to move some of the important and most important words ever uttered by an american president, but the biggest change will be underground. where are we right now? >> right now, we are under the lincoln memorial. >> reporter: for the first time, tourists will be able to see this subterranean cavern and to view the graffiti sketched by construction workers almost a hundred years ago. this area? >> the visitors area is up here. >> reporter: the center will dramatically change the lincoln memorial experience. >> so there will be much more opportunity to learn about lincoln and to really come away from this lincoln memorial with a real sense of who lincoln was and what he did. >> reporter: why do you do this? >> i do it because i think i'm giving back to my country in a small, modest way, perhaps, and hope i'll inspire other people to do the same. >> repor

. ♪ the david rubenstein show, peer-to-peer conversation, there is opportunity in complexity. d: in 2001, you became the ceo. on september 11, tragedy occurred not far from here. you were in salt lake at the time. what was your response and how did you handle that leadership challenge you had? kenneth: dallas, david an , incredible challenge at any point in someone's career. but particularly, in my first year as ceo. and one of the first things i was able to do when i was able to get the management team together, is i said to them that it is our job to lead this organization. and what was important through that whole ordeal, as you know, we had several employees who perished. that was emotionally traumatizing. the travel business was in disarray as a result of 9/11. spending dropped precipitously. i decided that, since we could not go back to our building, we were spread out in several different locations in the tri-state area. i got all of our employees in the tri-state area to come to an event at madison square garden. david: icy. -- i see. kenneth: i talked to them about wha

. ♪ >> david rubenstein show, peer to peer conversations, is brought to you by state street global advisors over the years you bought many companies, like washington post. how did that come about? they had gone public in 1971, about the times -- time of the pentagon papers. they were challenging the licenses of two of the four television stations. to stock went from 37 down 16. -- it there were about $80,000, no debt to speak of. the washington post company, intrinsically worth $400 million or 50 -- $500 million, sold for $80 million. it was ridiculous. it was ridiculous. it was unquestionably worth five times what it was selling for, and mr. nixon was not going to put them out of business. david: when you do analogies, do you have computers that help you? in those days, how did you read about those or know about that today? mr. buffett: same way, but fewer opportunities now. and he cameodward up with all the presidents men. at 30 years of age he was getting quite wealthy. at the madison hotel and he said, what do i do with the money? i said, investing is about assigning yourself the right

. >> reporter: financier david rubenstein spent tens of millions of his own fortunes to restore everything from the iwo jima memorial to the washington monument. >> if lincoln were to stand up he would be 28 feet ta another $18.5 million to the parks service to repair this memorial's stained walls and some of the most moving and important words ever uttered by an american president. but the biggest change will be underground. where are we right now? >> right now, we're under the lincoln memorial. >> reporter: for the first time, tourists will be able to see the subterranean cavern that view graffiti sketched by construction workers almost 100 years ago. the visitor center will be in this area? >> the visitor center will be up here. >> reporter: that's right, a massive 15,000-square-foot underground educational center will dramatically change the lincoln memorial experience. >> so there will be much more opportunity to learn about lincoln and to really come away from this lincoln memorial with a real sense of who lincoln was and what he did. >> reporter: why do you do this? >> i do it becau

. >> david rubenstein has given millions of dollars recently to the national parks service, includingthelingen memorial, where we're standing today. what is the role of private benefactors as we go forwoord? >> private philanthropy has always been a part. big parts of grand teton and his family. large sections of the virgin islands. there's a long tradition of those who have done well in the merion economy and they want to give back. philanthropy can never replace to cover the basic national parks service, but it gives us a moment of excellence. a bright line of what we couldn't do. >> you've talked about the national parks service as being the nation's story teller. what do you mean by that? >> well, i think it's an inhempbt responsibility of the national parks service to remind americans of our responsibilities to each other. and to this nation. when you think about the places that we have a responsibility to not only protect, but interpret the statue of liberty, ebenezer baptist church, the washington monument, these are not only physical place, they are ideas and they're embedded

that is the pepsico ceo speaking with david rubenstein, of course.chunk of the holidays? we will look at that next. this is bloomberg. ♪ anna: welcome back. bloomberg's offices in london, i'm anna edwards. headlines coming through. the ceo of monte dei paschi speaking. they will start the debt swap on monday. the debt-to-equity swap to last for five days. x giving shoppers may be in for a bit of a turkey price this year. the popular holiday bird price has risen. the cost is about 6% higher than last year. to price per pound rose $1.21 from $1.16. a person's and other retailers -- albertsons and other retailers offer lower prices in turkey's to get your spending. the ceo of boston market spoke yesterday. in fact, we don't have that sound for you. hasreliably sure that he comments about your turkey dinner. take care of you are shopping on black friday. enjoy your turkey dinner. i will be back on bloomberg. we will leave you with pictures. ♪ >> u.s. markets are closed on holiday. we go from berlin to istanbul to santiago. this is bloomberg television. u

and our new restoration project, through this generous donation by david rubenstein will allow us to acquire more original artifacts and reproductions of original artifacts including paintings so that we can represent the true appearance of this house as it was when the lees and custises lived here. but there will be examples that we will leave like this, this bare patch of plaster on the wall. this plaster, it's not just something we chose to leave exposed for no good reason. what we discovered about seven years ago, a restoration project where we stripped down paint down to the plaster and we repainted different rooms, we found writing, graffiti. and some of this writing, it's very hard to see, very faint on the walls. but this we think even predates the civil war. some of the graffiti we have in the house is civil war related, left by union soldiers. some of this predates the civil war and goes back to the earliest construction of the house. and so it's something that we're leaving exposed because it is representative of that history. and we wanted to be able to preserve it and pe

. >> reporter: financier david rubenstein has spent tens of millions of his own fortune to refurbish everything from the iwo jima memorial to the washington monument. >> if lincoln were to stand up he would be 28 feet tall. >> reporter: now he's giving another $18.5 million to the parks service to repair this memorial's stained walls and leaky roof, and to scrub clean two iconic murals and some of the most moving and important words ever uttered by an american president. but the biggest change will be underground. where are we right now? >> right now, we're under the lincoln memorial. >> reporter: for the first time, tourists will be able to see the subterranean cavern that looks like a cathedral and to view graffiti sketched by construction workers almost 100 this area? >> the visitor center will be up here. >> reporter: that's right, a massive 15,000-square-foot underground educational center will dramatically change the lincoln memorial experience. >> so there will be much more opportunity to learn about lincoln and to really come away from this lincoln memorial with a real sense

thanks to the library of congress which hosted the festival for 16 years and david rubenstein and many sponsors that make it possible. i never met sarah bell personally until now but like a lot of you i feel i have known her forever whether through her work on this american life, delightful books into side alleys of american history and the role that most excites my moody 6-year-old daughter as the voice and full of violet from the incredibles sarah do anything and make it seem effortless and funny and profound all at once and if you have not read her obituaries of john ritter and tom landry you are missing out. here to talk about her book she has written a history of the puritans, presidential assassination sites and a book on america's revolutionary, lafayette in the somewhat united states. there will be time for questions and c-span is covering the history and biography session so be on your best behavior. please get one. it is my fan boy pleasure to introduce sarah. [applause] >> hello, book lovers, people of c-span. i travel around the country so much and only meet people who read

emily: watch david rubenstein's full conversation with the alphabet executive chairman 8:00 p.m.bloomberg television. more of "bloomberg tech" next. ♪ emily: china web giant tencent reported earnings. smartphone games, performance-based ads, plus payments a cloud services. peter alstom covers the company for bloomberg news and joins me now from our tokyo bureau. tencent has tried to transform the biggest revenue streams in its business here. how well is that going? well, it's a pretty interesting quarter. the company boosted revenues more than 50%. i almost any standard that would be considered strong growth. at the same time it is investing heavily in these new ventures, and that's the reason you saw net income rise a few notches more slowly than that. the company is a dominant player in messaging services through wechat and qq. investing more aggressively into cloud services and new kinds of games and media content, into online payment systems too. it has a bunch of new initiatives it's trying to invest in and expand in. and also get out ahead of a slowing chinese economy. emil

david rubenstein, will lead a discussion with a number of political reporters, mike allen, chris wallace, looks like it is about to start live coverage on c-span. >> can i have your attention for a moment? thank you, everybody please, quiet. thank you. i would like to first , the ambassador. the state senator from maryland is here, and the postmaster general megan brennan is here now. thank you all for coming, we will have a great discussion of who the next president will be and who will control the senate and who will control the house and get the answer at that ye in the of this. my elite it that immediate left chris wallace. he did a spectacular job of the moderator of the third debate. thank you. [applause] and we have now gloria borger, the chief political analyst for cnn and she has been at cnbc and cbs and new york news any probably see her many hours a day on cnn. [applause] and charlie cook who is the founder and editor of the cook and he knowsort every congressional district and can tell us who will win every congressional district and senate race. [applause] mike allen who is

. ♪ emily: tune in to bloomberg television in prime time for the latest episode of the david rubenstein peer-to-peer conversations, 8:00 p.m. in new york. berkshire hathaway ceo warren buffett. >> we had roughly 2% or lower growth. do think it is possible to grow 3%, or more in the economy? 2% growth, if you have less than 1% population growth, that means in one generation, 25 $18,000 orave maybe $90,000 in gdp per capita. $19,000 in gdp per capita. catch the six part series in the full interview wednesday, 6:00 p.m. eastern. competition to reign over the internet of things. one company looking to make its mark, which recently closed at $70 million. their aim, to connect manufacturing equipment, medical devices, and equipment used by the world's largest companies. cluster, double what it was in 2012. but the numbers are expected to decrease to $3 billion this year, joining me now to discuss .hem -- the iot he worked at oracle a long time, tom, thank you for joining us. you have seen many technological shifts. why is the hype around iot dissipating? business been in this for four decades

library of congress which has hosted the festival for 16 years as well as festival co-chairman david rubenstein and the many sponsors that make the event possible. i've never met sarah vowel personally until right now, but maybe like a lot of you i feel like i have known her for ever. whether through her work on this american life, our delightful books into the side alleys of american history and in the role that most excites my moody sage old daughter as the voice and soul of violent from the incredible. sera can basically do anything and make it seem effortless and funny and profound all at once. if you've not read her own obituaries of john ritter and tom landry, you are missing out here to talk about our books for children's digital why, the puritans, a presidential assassination sides and most was that a book on america's revolution bff, marquis de lafayette. in her book, "lafayette in the somewhat united states." there will be time for questions after she speaks coming c-span is covering the history of biographies session, so be on your best behavior. sarah will be signing books at 1:30 p