david: you are on the board of the bill and melinda gates foundation now. mr.fett: true, but they run it. david: what would you say are some of the details or highlight -- deals are highlights you are proud of? one of them was the gas parts $37 billion. , mr. buffett: yes. between $32 billion and $33 billion of cash, and then we assumed about $4 billion of debt. david: so how much -- you spend $37 billion, did you spend a year studying the company? mr. buffett: no. david: how much time did you spend with the coo? david: i met the ceo i think on july 1 of last year. and he happened to be calling on certain shareholders. and one of the fellows in our office had had a position of the stock for some time. it was an accident i met him. if i had been out playing golf it never would have happened. but i like him, i heard him talk for 30 minutes. and i then said to the fellow in office, i will call tomorrow and say, if you would like to receive a cash bid from berkshire hathaway, we would supply one. if you would like not, forget we ever called. david: do you ever hire

board of the bill and melinda gates foundation now? mr. buffett: true, but they run it.: what are the highlights of some of the deals you are most proud of? the biggest deal you have ever done was precision castparts, $37 billion. mr. buffett: yes. it was between $32 billion and $33 billion of cash, and we assumed $4 billion of debt. billion, to spend $37 you spent a year studying the company? mr. buffett: no. david: how much time did you spend with the ceo? mr. buffett: i met the ceo on july 1 last year. he happened to be calling on certain shareholders. and one of the fellows in our office at a position in the stock for some time. so it was an accident i met him. if i had been out playing golf, it never would have happened. but i went in. i like them. i heard him talk for 30 minutes. i sent to the fellow in our office and tell him that i will call tomorrow. if you would like to receive a cash bid from berkshire hathaway, we would supply one. and if not, forget we ever called. david: do you ever hire investment bankers to help you analyze a company? mr. buffett: not to

we couldn't move without the bill and melinda gates foundation.sation about the gates and he wasn't sure about advocacy. even the richest man in the world discovered, as deep as his pockets were, he had to work in partnership with governments to really shift the needle, which is what he has done. charlie: he will tell you that, he couldn't do what he did unless you got government involved. government is the own -- only institution with the resources and power to do it. what you have done, what bill has done in his own way and others, they have tried to ignite the resources of the private sector because there is so much talent. it is about technology, it is about mobilizing as someone once said about winston churchill, he mobilized the english language to defeat hitler. mobilizing all of these tools to change the world. bono: is great. using profit. charlie: it gives you the freedom to do it. >> i suppose entrepreneurial capitalism is part of the program. i started out as an activist who had no understanding or even regard for commerce. now i under

we couldn't move without the bill and melinda gates foundation. honestly, it's incredible.sources necessary and the power to do it. it has to lead the way. but what you have done and what bill has done in his own way and others, they have tried to ignite the resources of the private sector too because there's so much talent there but it's talent and it about technology. it's about mobilizing. someone once said about winston churchill you mobilize the english language to defeat hitler. >> that's great. >> rose: it's about mobilizing all of these tools to change the world. >> that's great. >> rose: the young. >> but using profit. >> rose: profit gives you the freedom to do it. >> i suppose, yes, entrepreneurial capitalism is part of the program now. by the way i started out an activist who had no understanding or even regard for commerce. and now i understand that commerce is essential and the most essential component taking people out of extreme poverty. and i learned from africans to take commerce seriously. the great telecom guy, he's probably the strongest voice in the co

correct answer, bill and melinda gates. how much do they give?r own monies created the bill and melinda gates foundation. what i love is that they partner with organizations around the world to deal with very serious issues of health and impov rshment and are an extraordinary foundation. >> awesome. kath, across the street to you. >> lovely girl from georgia. finish the lyric, please, to this tim mcgraw hit. listen. ♪ say please, say thank you, don't steal, don't cheat and don't lie ♪ i know you got mountains to climb, also stay -- >>♪ humble and kind ♪ >> yes, honey. good for you. there you go. >> that's a great -- i have an idea. what about tim mcgraw and lady gaga tinging that, a duet? >> she loves tim and faith nap song, a number one hit in june. and my favorite part is that the lyrics were actually developed, i think it was lori -- mckenna who actually wrote it. >> she wrote that song, yeah. >> but these were rhymes she wanted her children to know and so what great values to instill in your children? i mean, we should all be singing "humble

it was funned by donations from the bill and melinda gates foundation and the kellogg foundation. >>> started with pepperoni dreams and ended with handcuffs. a guy who firefighters rescued from a pizza shop vent in new york is now facing charges. >> someone reported a man smz yell ing yelling for help and they found richard grant stuck in the vent that led to the shop. burglary. >>> coming up, dozens of young dc football players are headed south after reaching their fundraising goal. >> first, police officers stop shaving as a way to pay tribute to their fellow officer killed >>> today marks one year since the san bernardino terror attack that left 14 people dead and 22 otrs through the city of san bernardino in memory of the victims. it's just one of the many services to honor those killed. >>> despite a deadlock the jury said it's prepared to resume deliberations monday in the case of a former south carolina charleston police officer charged with killing an unarmed black man. the jury announced it was stuck, 11 voting for conviction and one hold out. willing to keep at it the judge

. >> it's an idea that the bill and melinda gates foundation championed in their $2 billion fight againstia. >> gene editing is such a basic tool and it's going to pervade all the work in the biological sciences. those tools even for diagnosis, doing gene knockouts to understand the disease models, you really can't understate what a great set of tools they are. >> but the tool is controversial and ethics committees around the world are debating whether humans should be able to override natural selection. meantime, darpa is preparing for the worst. in september, the pentagon research arm announced a new program to look into halting accidental gene drive spills. thereby preventing unintended consequences on the human gene pool. but regulators will have to act fast in 2017 as experiments are already under way. in october, chinese researchers became the first in the world to test crispr modified cells on a human. caroline: that was bloomberg's caitlyn meehan reporting. now, that does it for this edition of "bloomberg technology" and for 2016. we wish you all a very, very happy new year. and m

how do you compare the challenge of building microsoft and running the bill and melinda gates foundationbill: they have more common than people might expect. an innovation might be and you stick to it and you build a team behind that. you have setbacks and successes of change.ory my microsoft work was when i was very young. was 17.d when i and that was my primary focus until i was 53 when i made the transition. for the early part of that, i was maniacal. i wasn't married, no kids and i didn't believe in weekends. until i was 30 i didn't believe in vacations at all. so it was incredibly fulfilling to write the code and beak hands-on -- and be hands-on. i didn't have that breadth of the --ge that would left that would let me play my role at the foundation. i think it was good foundation. after i met melinda and got married and started having kids, i was looking at the world more broadly. thinking about where the wealth could go. and they are equally difficult. you always know you could be doing better. building the team and thinking about things in a better way. so you see the positive res

david: you did not ask them to call it the bill and melinda gates and warren buffett foundation?ou did not want your name on it. mr. buffett: that would not do any good. david: you were on the board? mr. buffett: true, but they run it. david: what are the highlights of some of the deals you are most proud of? the biggest deal you ever did was $37 billion. mr. buffett: yes. between $32 billion and $33 billion of cash, and we assumed $4 billion of debt. david: so, you spend $37 billion, did you spend a year studying the company? mr. buffett: no. david: how much time did you spend with the coo? -- the ceo? mr. buffett: i met them july 1 of last year. and he happened to be calling on certain shareholders. and one of the fellows in our office at a position in the stock for some time. it was an accident i met him. if i had been out playing golf it never would have happened. but i like him, i heard him talk for 30 minutes. i sent to the fellow in our office, i will call in tomorrow. if you would like to receive a cash bid from berkshire hathaway, we would. and if not, forget we ever cal

this year bank of america made a $20 million commitment to fight aids, the bill and melinda gates foundation is matching organizations are changing people's lives for the better. tonight you may be able to change your own life for the better by entering to win a special experience with your favorite star through omaze the website. you can go to vegas on a magic mike weekend with channing tatum. [ cheers and applause ] maybe even come back pregnant, who knows. you can see hamilton and meet you can win a night on the town with neil patrick harris. have lunch at nobu with liam from one direction. have tea with bono and julia roberts. u2 and bono wi u2 and bono will do a show just for you. u2 and you, too. if i do have to go to the bathroom in the middle of it, bono will stop playing until you get back, how amazing is that. last year bono took his winner bike riding in central mark. matthew mcconaughey took his winners to a u.t. football game. james franco painted his winner's portrait. kim kardashian gave the winner a make seven over. this year dj khaled will take you on a jet ski ride. wouldn'

and warren buffet said he's going to give money to the bill and melinda gates foundation. what are you going to do with your billions? >> well, that's probably the thing that i have dealed up the most, since i retired. my wife spent ten years looking at child welfare i. i joinedded her focusing on issues of intergenerational poverty, what can be done by not for profits, by government, by philanthropy. to create -- if you're bon in the bottom quinn tile in this country and live in certain neighborhoods you're almost consignedded, 50% likely to stay as poor as your parents and that's not okay. so from a philanthropy perspective we'll use what are resources we took invest in not for profits, trying this wills which could lead to government systems retomorrows, what i takes to make something happen. sometimes new programs, sometimes new money, but a lot of it actually is getting communities focusing on the process and how communities come together to help their most disadvantaged kids and give them a shot. so, from a philanthropy perspective, that's kind of my wife and my sing

hillary clinton was going to be the president, wind it down and maybe shift it over to the bill and melinda gates foundation and let them run it. i don't know what's next for the clintons, for either of them. we know that they like the spotlight and make sure that they are giving back and serving the public in some way. i think this feud, i agree with fred, is silly. david: jessica, i want to call you out on something. serving the public, is that what the clinton foundation was all about? and wasn't there a lot of-- >> look, you won that argument, i don't think we need to return to it, david. but look, the-- >> do they have a political future? do the clintons have any political future at all? >> you mean running for office? probably not, but being influential in the party, they probably do. but donald trump has to realize he claims a right to respond to any criticism of him. he doesn't need to respond now. he won. he's going to be president! he doesn't need to respond to a comment by bill clinton. david: jessica, there seems to be a knee-jerk instinct in donald trump to respond that he doesn't ha

. >> the bill and melinda gates foundation is saving lives, delivering the latest science and medicine the greatest need. >> martha stewart's list is filled with entrepreneurs who have inspired her over the years. after a lifetime in business, she wants to support and nurture young business men and women at the start of their careers. that's why she's created american made. a program to help the best young entrepreneurs to succeed. american made holds a competition each year to find the next generation of talented entrepreneurs, from farmers to caterers, beauticians to builders. >> we started it five years ago, and what we do every year is look all over america for those entrepreneurs that we think will make a difference. >> while martha is nurturing young entrepreneurs, she's inspiring other young business men and women across the country by being a role model. >> when you have women who are the ones profiting from these businesses, that sort of generates more women-led business, inspires more women, means there's more women investors to help businesses grow, and martha has been hugel

the bill and melinda gates foundation will invest as much as $140 million in closely held therapeuticsogram goes well, the foundation may give up to $90 million more. palladium is the only precious metal to rise since donald trump surprise election win. gold has slumped at the progress policies strength in the dollar but palladium, which is used in conversions, stabilizing vehicle sales in the u.s.. finally, the software maker for mostrless cars jumped the since august after announcing a partnership with the german mapping company. they include bmw, audi. technologies will be integrated into technological mapping systems and that is your bloomberg business flash. julie: coming up, what you need to know to gear up for tomorrow's trading day. this is bloomberg. ♪ julie: "what'd you miss?" we did see a little bit of a pullback in the markets but more significantly a reversal of some of the recent trends, postelection trends we have seen across the asset classes. in the meantime, don't miss this. the last economic data point of the year in the united states. chicago pmi tomorrow, 9:45 east

susan desmond helman who heads the bill and melinda gates foundation also participates. [ applause ] >> well, good morning. >> good morning. >> we're going to get right to the worst case scenario here. i don't know how many of you have seen the movie "contagion," i watched it again recently and got scared. one of the things i wanted to start with is by asking how close are we in the infectious disease world to a scenario like that? i'm going to start with you, dr. frieden. we've seen ebola, we're dealing with zika. there all these new tropical emerging infectious diseases coming out of the swamps. how close are we to something that can't be contained, some biblical plague? >> well, first off, every year on average we identify one new pathogen. and every day on average we at cdc start an investigation that could detect a new pathogen. the contagion scenario is a pandemic influenza. that's, frankly, what worries us most. bill gates has said there are only two things that could kill ten million people around the world, nuclear war and a biological event, either intentional or natural. a

warren buffett said, you know he is going to give every last penny to the bill and melinda gates foundationh your billions, i guess, 24 billion or so at last count, but what do you want to do? >> well, that's probably the thing that really i've dialed up the most. my, since i retired. my wife, it has been 10 years looking at child welfare. i joined her really in the ballmer group as we call it, focusing in on issues of intergenerational poverty. what can be done by not-for-profits, government, philanthropy, to help create opportunities. if you're born in the bottom quintile of this country and you live in certain neighborhoods, you are almost consigned, 50% as likely to stay as poor as your parents. that is not okay. from a philanthropy perspective we'll use whatever resources we can to invest in not-for-profits, trial things, which could lead to government assistance reform. whatever it takes to try to make something happen. sometimes it will be new programs. sometimes new money. but a lot of it actually is getting community focusing on the process and how communities come together to help

gates: we talked about it a lot, so that was a decision melinda and i made.nted to take the greatest injustice in the world, something we could make a huge difference in and that is health and we brought that by doing agriculture, sanitation and other things. we wanted to take a cause that would help the u.s. be as strong and improve educational opportunities. david: you go into the field. why do you feel you need to go into the field in africa or latin america, or any part of the world giving away money and meet the people? mr. gates: i have chosen to spend my time and melinda time -- spends her building the foundation so it has an impact. i get a lot of enjoyment. this is how i have taken everything i have learned from microsoft in the position i am and helping to drive the strategy and go out and see what is going on with this work. that is my full-time job, and it is a wonderful job. david: your foundation has a certain life. it is not perpetual. i think it is 20 years after either you or your wife is the last one to live dies, it would end? mr. gates: th

melinda. >> thank you. 5:10. new this morning, a man shoots a rifle in a business washington dc restaurant and saying he was there to investigate pizza gate? >> tim is following this story. he's referencing a fake political story, it is a recent hashtag and this fake news article claimed that hillary running a child trafficking ring in the restaurant's back room and this guy was going to investigate. the customers noticed when edward walked into the es are trant, workers called the police and got the people out of the building. he fired at least one shot into the ground there. welsh surrendered to the police. >> a night of partyin >> dozens of people are dead after a weekend fire in oakland, california. >> helping feed the hungry in southeast wisconsin, where you can go today to catch a glimpse 1-3 inches of snow across much of southern wisconsin. mostly cloudy skies and the temperatures ranging from 31 #-33. we climb to the upper 30s today. we look at mostly cloudy skies and a peek or two of the sun. the temperatures not bad today and tomorrow. cloeder air is coming in later tuesday night and wednesday and highs in the 20s and lows inhe

we are here this morning with bill gates who is the co-founder of microsoft and the co-chairman of bill and melindaillion-dollar fund looking at innovative ways to change energy and really combat climate change. bill, want to thank you very being here today. first of all, billion dollar fund is a big deal. this is an area that you've been talking a lot and writing a lot and focusing on for quite a long time. this is a different deal where people are investing their own money to look at this. what's the goal of this fund? >> well, it started a year ago. where i went to the november climate talks. and had two groups that came together. 20 governments including all the big ones committed to double their energy r&d. so that's the basic research piece. and i and a group we call the breakthrough energy coalition says we as private investors would take the good things that came out of that and even though it's high risk, we go through and build companies out of that. with a goal of making energy both cheaper but also completely clean. and so with the right innovation of clean energy is actually cheaper th

homeless woman who delivered baby in golden gate park this week did it without any medical help and did it without even knowing she was pregnant. we caught up with melindaboyfriend outside the local hospital. berman said she was in labor for five hours monday morning and with her boyfriend's help, she delivered that baby. >> something coming out of my body and i wasn't sure and then i was like, okay, push. was breathing and held her and just marveled at the beauty of a newborn baby. >> the couple said they plan to move to santa cruz to raise their baby and hope to get donations from strangers. >>> a special flight is going to be arriving in san francisco to commemorate two major airlines joining forces. it just got approved by doj. the new merger is going to make alaska the fifth largest u.s. airline. the commemorative flight will be landing at sfo this morning just before 11:00. >> scott mcgrew, you'll be there. a lot of people are disappoint sthood we want to know here in san francisco what alaska is bringing to the table because virgin has excellent schls alaska has lower price but will we see lower prices with less competition? one of the many stori