and robotics lab at carnegie mellon in pittsburgh for a piece at aired on "60 minutes." this evening, i bring you my full conversation with andrew moore, dean of school of computer science at carnegie. >> a lot of the biggest advances in artificial intelligence in the last 20 years have actually been inspired by looking at what goes on in the brain. often, the brain really reacts to mistakes. if you do something that doesn't work out, stuff in the brain says, well, i'm not going to do that next time, i'm going to try something else. a lot of our machine learning algorithms do the same thing. >> rose: all about artificial intelligence when we continue. >> rose: funding for "charlie rose" has been provided by the following: >> and by bloomberg, a provider of multimedia news and information services worldwide. captioning sponsored by rose communications from our studios in new york city, this is charlie rose. >> rose: what is artificial intelligence? >> so it is what we're all doing when we make machines do things which we usually ascribe to human intelligence. so it is all

andrew: all four of those companies come to places like carnegie mellon and m.i.t. begging up to give them artificial intelligence researchers. charlie: they want your graduates. andrew: yes. charlie: what is the most surprising thing today, that even like the passage to do it amazes you in terms of the velocity of change? andrew: here's a couple of big surprises. we have worked so hard and robotics, almost every aspect of being able to understand the world, getting our robots to act swiftly and act safely, they cannot still reliably pick up a cup of coffee. simple things where we use our hands -- charlie: why is it so hard to do that? andrew: we are not quite sure. we have tried various wings with grippers and clause to do this. human dexterity still blows us away. our geithner -- current understanding is that our fingers and our hands are amazing instruments. we are sensing all over them so that as your hand is coming into grip something, it's doing lots of computations. is this going to slip, is this going to fall? we robot assists really need to get our act toge

in the case of pittsburgh they attributed this to carnegie mellon and to pittsburgh. just in the last seven, eight years, google set up shop in pittsburgh. and employee number one was computer science. he went and started this operation. now it is one of the largest revenue makers for anyone in the world. they have several hundred employees. we actually got this faculty member who spent years at google. joked at google. the only reason he is coming back to the university is because we can pay him more than google can. so i think it is a two-way process. is same with companies like microsoft, uber and others. i think it is a brain circulation of a different kind. other than you're using faculty members from one university to another university, now we lose them to industry. >> this is going to go to both of. long lines you're talk building right now. we hear a lot about the immigration issue. i know in my company all of my scientists are immigrants. it's been really tough with the visa program and everything else. talk about that a little bit, steve. you're investing i

they attribute this to carnegie mellon, the university of pittsburgh. those are examples just in the last seven, eight years google set up shop in pittsburgh. employee number one was professor of computer science who went and started this operation. now it is is one of the largest revenue makers for google anywhere in the world. and now they have several hundred employees. they are tripling the footprint in pittsburgh. we actually got this faculty member who spent 10 years at google back, my dean of computer science. in fact, i joked to senior executives at google that the only reason he's coming back to the university is because we can pay him more than google k so i think it's a two-way process. same with companies like microsoft, uber and others. i think it's a brain circulation of a different kind. rather than losing faculty members from our university to another university, now we lose them to industry. >> this is going to both of you. we hear a lot about the immigration issue. i know in my company, all of my scientists are immigrants. it's been re

they attribute this to carnegie mellon, the university of pittsburgh. those are examples just in the last seven, eight years google set up shop in pittsburgh. employee number one was computer science and who went and started this operation. now it is is one of the largest revenue makers for google anywhere in the world. and now they have several hundred employees. they are tripling the footprint in pittsburgh. we actually got this faculty member who spent 10 years at google back, my dean of computer science. in fact, i joked that the only reason is coming back to the university is we can pay him more than google can. so i think it's a two-way process. same with companies like microsoft, uber and others. i think it's a brain circulation of a different kind. rather than losing faculty members from our university to the another university, now we lose them to industry. >> this is going to go to loathe of you. we hear a lot about the immigration issue. i know in my company, all of my scientists are immigrants. it's been really tough with the visa program an

simon derrick, chief markets strategist, bank of new york mellon, is joining us again to discuss. my office, those espressos when i need them. that is not happening any time soon! dougalwould like his bed in his office. i could have done without! scott says, somewhere that is calm and inspirational, where you can see the sea. that is quite specific! we would like a window. it would be nice to have a real window. let's look at this story, in the daily mirror. this is one of our tabloid newspapers. £1 per second, the numbers behind carlos tevez‘ proposed wages in china. that is quite phenomenal. it is. the statistics, he will earn more per week than cristiano ronaldo and lionel messi combined, or the same amount. they worked out that he could buy a brand—new porsche 911 everyday. i work in the city of london, even i think that this remarkable. even you! do they get this money back? presumably they must they? in terms of sponsorship, sailor shirts, that kind of stuff, tv rights? clearly, you have to sit there and think about how this works through. until i read the story, i had not e

she is a carnegie mellon melanie also welcome is the millennial plaques or just a carnegie mellon fellow] she's actually only 9-years-old. [laughter] she's done a lot. [laughter] a longtime resident of moscow maybe that's just how they do it in russia, that's how good the vodka is. a longtime resident of moscow, she now lives in new york and he gives me great pleasure to introduce masha. [applause] ♪ yes, and the vodka was very helpful in making those decisions. [laughter] you already know that it was a love of books and that the choice was excruciatingly hard. such a lot of books but also such a lot of great and important books. i was very impressed with how many books on history we had to read this year, how many striking memoirs were red. and i realized at one point i was thinking if my 15-year-old daughter, who is actually here today because she had the job of alphabetizing the books and sorting them and resorting them, if she had read nothing but the books that were nominated by publishers for the nonfiction award this year, she would be a really well-educated person. i want to than

now the president of carnegie mellon. we have one of the top people in i.t. in history with one of the top material scientists in the world. so this is going to be a lot of fun. i want to get it started. this is a great time to be alive. it is a great time to be here with you. we're in a very unusual time. everybody remembers when the patent officer in the turn of the century, the guy that said, everything that's going to be invented has been invented. might as well close the patent office. in the '70s, what most people don't know, the guy run the patent office at that time said more will be invented in the next 100 years than in the history of mankind. now everybody says more will be invented in the next five years than in the history of mankind. we have been hearing that all day, because basically all this is caused by the inventions in our lifetime and the last four years of four things. the chip, software, storage, and internet. and then all day long we've got to hear about all the incredible new things coming at us as full speed, like a.i., robots, nan o

emily: you have multiple degrees, and engineering degree, biomedical engineering at carnegie mellon,ba and stanford. he wrote this post called, is majoring in the arts and mistake for students? would you indicated it does not set you up for success. this caused some controversy which i know you are not shy about. one, to road, the real purpose of human existence is fundamentally tied -- tied to the simulation of wealth. what is your response? vinod: that is a nonsensical response. what liberal arts has become is an excuse to do less work. that is not everybody. i speak to that. 80% of students who actually do it for the wrong reason, but bottom line, if liberal arts goals are legal, then liberal arts as taught today and taken today at the wrong level. emily: what should they be studying? vinod: logic and philosophy should be an absolute part of liberal arts week is otherwise you do not learn how to think. linguistics, economics, learning how computers work because we live in the computer age. acquire another language when the most important language is computing. not because people n

an engineering degree, as the indian institute of technology, biomedical engineering at carnegie mellonan mba at stanford. you wrote a post called "is majoring in liberal arts a mistake" for students. it caused some controversy, which i know you're not shy about. one critique wrote "the real purpose of human existence is fundamentally tied to the regulation of wealth." what is your response? vinod: that is a nonsensical response. what liberal arts has become is an excuse to do less work. that isn't everybody. i speak to the 80% of students who actually do it for the wrong reason. but bottom line, if liberal arts goals are the goal, then liberal arts as taught today and taken today is the wrong curriculum. emily: what should they study? vinod: logic and philosophy should be an absolute part of any liberal arts curriculum. otherwise you do not learn how to think. linguistics, economics. learning about how computers work. we live in the computer age. why require a second language when the most important language is computing? not that most people ever need to code. but because it is a styl

professor ate a carnegie mellon university in pittsburgh, codirector of the initiative for digital media analytics which is what? rahul: again, the book is a culmination of the research we have been doing for the last maybe 10 or 12 years. in the process we get a variety questions at the level in the policy level. we have done a lot of work on copyright and infringement and how effective it is. these are in the process of establishing the center. the purpose of the center is to hire faculty and students who will come in at times and do research for the media industry. peter: professor, has the legislators and regulators here in washington kept up with the changes in this world? rahul: so, i think much of the focus over the last maybe 10 years when it comes to regulation was for protecting content. how to stop the infringement of the content. 1998 when napster came in, the music industry is not what it was 10 years ago. obviously the content is definitely what they want to protect, the intellectual property and copyright. it gets very challenging because now it is the individual users who

we recommended bny mellon as a risk provider celebrity would be under one house. but given the value of historical data were going to go with the other option that was equally strong. in item number nine, a board member asked for what our investments in china are so we have details this out. the bottom line is that we are if you look at it on a total portfolio context, even taking into account our unfunded commitment, the capital commitments that we put in place, is that our total is right around i believe it's a little over a percent to 1.65 billion so that's a percent. that compares to ms-which is 3% and the cambridge venture private equity venture portfolio which is a percent. a little less than a percent. so we are marginally overweight could when i would note is that china is still expected to become the largest economy in the world 10-15 years from now. the-moving to item number 11, i would just walk through that we spent actually a fair amount of time walking through any any pcs chart at made some comments in here. a few of the key takeaways would be that t

she's been awarded the ulysses medal from university college-dublin, ireland, wells the guggenheim-mellon fellowship. four of her books have been named notable nonfiction book of the year by "the new york times", and her work appears in 16 languages. she's a sociology professor emerita at uc-berkeley. she lives in california with her husband, adam. welcome, arlie. >> thank you. thank you. thank you very much. [applause] it's great to be here. what i thought we could do is i'll spend a little bit of time taking you on a journey with me that i've just come home from. and then we can open it up to questions and comments. five years ago i sensed, like so many of us did, a split between left and right that was getting more extreme. each side was hardening. and that we lived in kind of enclaves so that i would talk to my husband and best friend, we'd chatter away, and we'd agree, and then i would open the newspaper and say, oh, my gosh, look. there are two truths here. there's -- i'm not living in the whole world. or i'd look at television and feel the same. and i knew that, actually, other ame

we have everybody from computer science majors from carnegie mellon all the way to starbucks baristasd everything if between. in general, most of our students have college degrees already, and they're looking to either upgrade their existing career path or change careers entirely. . these skills that really help companies lead the way into the future that we're all imaging. >> and how is that helping those people become more fully employed beyond what they would have otherwise been doing in their job. there's been so much discussion around heavy industry and retraining factory workers to be able to work in advanced manufacturing. this is happening on the software and on the services side as well. >> it is. i think it's going to happen a lot slower, and we're talking about decades. not necessarily a couple of years before all the jobs are going away all throughout our economy. i think these things -- it will happen in phases. i think what we're seeing in the sector is that we -- that we work in and the skills that we train for and the employers we work for is that these skills are grow

you shouldn't need a carnegie mellon ph.d. to use a cybersecurity product. then data scientists.ractically a university math department of ph.d.s who are writing the algorithms that undergird all this detection technology. emily: a lot going on here when it comes to global cybersecurity. president-elect trump planning to issue an executive order on on day one to prioritize the creation of a cyberresponse infrastructure, yet at the same time he's been skeptical of these claims that russia hacked the u.s. elections. how do you expect the threat landscape to change under president trump? nate: i think the threat landscape will continue becoming more and more hostile to the united states. for the simple fact that offense is structurally dominant. a doll after offense beats a dollar of defense every time. if the u.s. is going to ensure a basic level of trust and stability in the cyberdomain, we have to bring to bear all the elements of american power in order to deter our adversaries. it shouldn't be about the united states hacking hackers. we should be marshaling every element of mil

we're never gettin' into harvard or carnegie mellon ? ? and we gon' end up either robbin' somebody or killin' it's not fair that's all they can tell us ? ? that's why i hustle hella hard never celebrate a holiday that'll be the day ? ? i coulda finally hit the lottery or throw my shot away ? ? or chalk it up as just another one that got away so i'm unapologetic i'm on my calesthenics ? ? if i have given it all i got i cannot regret it ? ? my final destination's different from where i was headed ? ? 'cause i'ma shoot for the stars to get it one shot ? ? i'm not throwin' away my shot i said i'm not throwin' away my shot ? ? 'cause i'm just like my country young scrappy and hungry ? ? and i'm not throwin' away my shot i said i'm not throwin' away my shot ? ? no i'm not throwin' away my shot yo i'm just like my un young scrappy and hungry ? ? i'm not throwin' away my shot ? ? when opportunity knock you don't send anyone to get it ? ? answer the door welcome it let it in or regret it ? ? they said if you can't beat 'em you join 'em i said, "for

mellon was hurt. >> reporter: the rough weather is also believed to be the reason all severable to boats it fell the day a couple partnership with abc seven news 35 ft. cabin cruiser that's emerged and richardson bay and two people found aboard in good condition, on another friend's boat here is more video shot in what is believed to be a 20 ft. sailboat under water. rocks and mud covered much of the roadway. and that stretch of road will likely be closed until to clean up and that might not be completed to monday. most of the rain and much of a state reaching out southern california still a couple snowflakes and high country local a paris guy selling down for a very very stormy day yesterday half these numbers from the bay area 2 in. of rain and napa also nevada all calls also at and enjoy having quarter. >> reporter: edge in half and half monday so some very impressive rainfall totals running well above the average in many spots for the season. cold temperatures freeze warning in effect in the north bay and east bay hills mounds there and get some temperatures hovering in the mid 20's

any kind of -- [inaudible question] >> -- has to do with the agenda at the mellon hall.ure or are you going to get into the issues of trade and trade policy and some of the other topics which early this morning we touched on? >> going to be some policy but the lyon's share will be talking about what this problem solvers caucus can be, and where they're going to focus. you might imagine whatever comes up first on the docket next year, president-elect trump, may have a lot to say about that. the question is, with this emerging group, what's coming down the pike they can be constructive and piggy back on and offer some suggestions. one thing they made themselves want to take a stand on. this is an opportunity for all of you to speak directly to some of the members to get a citizen about what it is really going to be. any other questions? >> all right. ready for us to head toward the buses. everybody have -- to the main hallway, take a right, go out the exit, up the ramp. please be sure to take all of your belongings. >> you all also -- sasha gave you permission to go to the

audience, i admit this is something of a mulligan for me. 20 years ago or so, i was awarded an andrew w mellon fellowship that allowed me to spend time working at the virginia historical society's wonderful research facilities. on that trip i got to read a letter from an engineer at fort munro who related to his family the intelligence of a revolt that had taken place in southampton county. there were many instances of slaves defending their masters. one poor fellow from the inconsiderate and almost unwarranted haste of whites was sadly rewarded. assisted by his master and his son, the slave nobly fought with them against 20 of the blacks. after working for a week in the archives and finding nuggets like this, i was supposed to give a lecture on my research. i was pretty nervous. i was a young graduate student. it was not a large lecture, but it would be in front of people like nelson langford and francis pollard, people who knew virginia history. i think they would be able to just smell if i had anything to say about southampton they did not already know. i had not given a lecture quite like

that's where you'll find carnegie-mellon university. uber snatched professors and researchers from the school to work at uber. >>> shares in twitter fell 5% wednesday after the company once again announced executives were leaving, including the chief technology officer. twitter has seen a number of defections lately. let's check your news before the bell, landon dowdy is live at cnbc world headquarters. good morning, landon. >> good morning to you. it may take a little while longer for the dow to reach the 20,000 level. futures are flat and stocks flip slipping with the markets in thin volume ahead of the holidays. look for data on unemployment, durable goods, income and spending and the final report on third quarter gdp. the dow fall to 19,941, the nasdaq down to 5,471. >>> superheroes have a lot more powers. the twitter accounts used to promote marvel characters like captain america were hacked, and the hackers left message like don't worry, we're just testing your security. several other contractors' accounts were hacked including an

wall street hasn't been this happy since herbert hoover made andrew mellon secretary of the treasuryt led to the great depression. >> barney frank, thank you tonight. we're going to need your guidance on this because we know there is going to be a big dodd/frank fight next year. >> well, it's one i relish. i think he is on the wrong side of this politically. >> thank you very much. >>> coming up, dr. jill stein is leading the effort for recounts in wisconsin, michigan and pennsylvania. jill stein joins us next. ♪ if you have moderate to severe ulcerative colitis or crohn's, and your symptoms have left you with the same view, it may be time for a different perspective. if other treatments haven't worked well enough, ask your doctor about entyvio, the only biologic developed and approved just for uc and crohn's. entyvio works by focusing right in the gi-tract to help control damaging inflammation and is clinically proven to begin helping many patients achieve both symptom relief as well as remission. infusion and serious allergic reactions can happen during or after treatment. entyvio

wall street hasn't been this happy since herbert hoover made andrew mellon secretary of the treasury that led to the great depression. >> barney frank, thank you tonight. we're going to need your guidance on this because we know there is going to be a big dodd/frank fight next year. >> well, it's one i relish. i think he is on the wrong side of this politically. >> thank you very much. >>> coming up, dr. jill stein is leading the effort for recounts in wisconsin, michigan and pennsylvania. jill stein joins us next. as after a dvt blood clot,ital i sure had a lot to think about. what about the people i care about? ...including this little girl. and what if this happened again? i was given warfarin in the hospital, but wondered, was this the best treatment for me? so i asked my doctor. and he recommended eliquis. eliquis treats dvt and pe blood clots and reduces the risk of them happening again. yes, eliquis treats dvt and pe blood clots. eliquis also had significantly less major bleeding than the standard treatment. both made me turn around my thinking. don't stop eliquis unless your

probably because that's where you find carnegie-mellon university. uber snatched professors and researchers to work at uber. peter teal wheel continues to e his power with the trump administration. >>> new reports say guiding the nasa policy to include rocket launches. thiel's latest company is involved in border secure. the electronic privacy information center says the palo alto company supplies computer power. >>> someone has to run the computers and keep track of illegal immigrants. there are two concerns this morning. one is thiel has not separated his business from his position in the trump administration. to be fair, neither has trump. if you were to build a muslim database, this would be the sort of technology that you would use. so we're going to continue to watch the involvement with the administration. >> because the conversation will certainly continue. >>> thank you very much scott. we go now to southern california where we're getting ready for another round of rain in the bay area. an evening storm already brought very heavy rains to pa

even role models tell us we're born to be felons ♪ ♪ we're never gettin' into harvard or carnegie mellon a holiday that'll be the day ♪ ♪ i coulda finally hit the lottery i refuse to ever lose or throw my shot away ♪ ♪ or chalk it up as just another one that got away so i'm unapologetic i'm on my calesthenics ♪ ♪ if i have given it all i got i cannot regret it ♪ ♪ my final destination's different from where i was headed ♪ ♪ 'cause i'ma shoot for the stars to get it one shot ♪ ♪ i'm not throwin' away my shot i said i'm not throwin' away my shot ♪ ♪ 'cause i'm just like my country young scrappy and hungry ♪ ♪ and i'm not throwin' away my shot i said i'm not throwin' away my shot ♪ ♪ no i'm not throwin' away my shot yo i'm just like my country young scrappy and hungry ♪ ♪ i'm not throwin' away my shot ♪ ♪ when opportunity knock you don't send anyone to get it ♪ ♪ answer the door welcome it let it in or regret it ♪ ♪ they said if you can't beat 'em you join 'em i said, "forget it" ♪ ♪ once you join 'em you're buildin' a ceilin' the way you're headed ♪ ♪ be american express how you feel and t

she has received research funding from the mellon and i am to be asking her for grant writing advice because she obviously has that nailed. without further a do, let us begin with dr. james spero. [applause] >> thank you. defined by anime abiding mistrust of government. recently, we have entered a moment in which even the most basic assumptions about the proper role of government, seemingly those pertaining to national security and national interest, has become unsettled and bitterly contested. when it comes to the mission and mandate of our national government, the contrast between our moment and that at the end of the second world war could not be more extreme. day, the federal government was proportionately larger than at any other time in u.s. history. half of the gnp, employed over 5% of the civilian labor force and issued war contracts that built entirely new sectors of the economy and shifted the population centers of the country into the suburbs of what we now call the sun belt. the growth of the government was more striking on the military side of the ledger. over the course

she has received research funding from the mellon foundation, and i am to be asking her for gra writing advice because she obviously has that nailed. without further a do, let us begin with dr. james sparrow. the warfare state, world war ii americans in the age of big government. [applause] dr. sparrow: thank you. we live in a time defined by an abiding distrust of government. recently, we have entered a moment in which even the most basic assumptions about the proper role of government, namely those pertaining to national security and national interest, have become unsettled and bitterly contested. dr. sparrow: the growth of the government was more striking on the military side of the ledger. over the course of the war, the armed forces mobilized 60 million men and women in a nation that numbered 130 million in 1940. through just one program, lend lease, the federal government sent approximately $50 billion in guns, tanks, and other aid to the allies. comparing that to the just $40 billion that was spent on all emergency welfare measures under the new deal in the previous decade and it

is recalling most parts the bay area picking up with the after hours until evening some spots 14 mellons in francisco pretty breezy they're all so long coast pacifica sticking with us primarily 3 tonight in the wake up and reconditions tomorrow morning temperatures right now in the 40's and 50's for most parts of the area 51 for oakland sent as a coming in at 4844 for livermore conquered this morning thoreau's at 41 degrees. what had here is how you can plan to my breeze it and cool conditions tomorrow lisa sunshine return tomorrow evening that's when the chilly temperatures during the evening hours start kicking and and we will see really chilly temperatures get into tuesday morning as well. a tree plan accordingly. breaking news coverage continues with the kron 4 morning news and returns next. heavy, labored breathing heavy, labored breathing heavy, labored breathing coughing breathing through oxygen mask breathing through oxygen mask breathing through oxygen mask breathing through oxygen mask covered california. it's more than just health care. it's life care. >> marty: for people th

where his creative energy began to form. , workss of his family from his years at carnegie tech, -mellon. now carnegie ki we are looking at one of his paintings that he did for his canvasyear, this calledare one, why pick on me titledn mark and it is the lord gave me my face, but i can pick my nose. it is pretty provocative in subject matter. it is the portrait of a young man picking his nose. he submitted it to one of the most important shows of the year, and he was denied by the jury. warhol did not give up, and that summer he showed it again with a different title of why pick on me? had a little bit of autograph he is knownce, and for talking about and the philosophies of india warhol and about how he did not like his mose, how his family called hi the red nosed wharhola. it points back to his biography and the person behind the work. warhol obviously had a certain charisma about him his entire life, and i think that also manifested in pittsburgh. i think it was probably ,onsidered to be a bit peculiar not like the average student at carnegie tech. his drawings show that in the colleg

. >> mellon bank building. >> thank you. >> and liberty one.is is park time lays. >> do some music. >> if you do a penthouse, why not do the balcony of the penthouse. good to see you my man. >> good to see you too. >> this is your place. >> you all have driven by this hundreds of times, anytime going down ben franklin parkway, vine street expressway, did you ever imagine what one of these penthouses looks like. the buildings have been here since 1959, but and the view, and was the killer we need. >> big pool, cabanas. >> wall to wall windows, city, sun all day, river on the other side. >> okay. >> so greenery, i have amenities, i have trees, nature, and i'm still right here in the city. it is in the center of the culture. >> thinks all great, would i live out here but you have to live inside too. >> show me around. >> come on in. >> this looks like the living room. >> exactly. >> so, we get the living room, it is right next to the kitchen, right next to the balcony. full entertainment area right here. you saw fireplace, it lights up right away.

. >> pittsburgh, you know, along with carnegie mellon, which is an amazing university, it's a think tanktes these new opportunities. but it is a spirit. what happened also over the last eight years -- you can tell i haven't been a big fan of the last eight years but we have had lots of government programs that have made it easier for people to not go out and get trained and retrained. so you take pittsburgh as a model. that's what the whole country should be looking at, a very positive tooutd attitude towards the future. >> what about unions. >> unions to me, i can't -- i'm very anti-union. >> why? >> when you hear the word union think of the word inflation because they cost a lot of money. and any time you are doing anything with a union, you are going to find that you could have done that a lot cheaper if you hadn't had some sort of union involved with it. >> which is why jobs flee to mexico and elsewhere? >> mexico, china, colombia. i mean, in eastern europe. and that's why business owners will do that, because they are rewarded for doing so and that's what they are paid to do. once w

we recommended bny mellon as a risk provider celebrity would be under one house. but given the value of historical data were going to go with the other option that was equally strong. in item number nine, a board member asked for what our investments in china are so we have details this out. the bottom line is that we are if you look at it on a total portfolio context, even taking into account our unfunded commitment, the capital commitments that we put in place, is that our total is right around i believe it's a little over a percent to 1.65 billion so that's a percent. that compares to ms-which is 3% and the cambridge venture private equity venture portfolio which is a percent. a little less than a percent. so we are marginally overweight could when i would note is that china is still expected to become the largest economy in the world 10-15 years from now. the-moving to item number 11, i would just walk through that we spent actually a fair amount of time walking through any any pcs chart at made some comments in here. a few of the key takeaways would be that t

. >> john pea, carnegie mellon university.d page atkins reminds us there are a lot of possibilities so we may have standards bodies waiting for regulators to tell us what they need to develop and regulators waiting for standard bodies to pick models, where -- who should be driving this process or how do we coordinate across all of these players? >> coordination is a challenge. and i agree with both panelists earlier, that i do think the ntia and federal agencies have gotten much better, much more open in collaboration. i think i've seen that -- we've seen that, not just on panels like this, but i've seen senior military officials talk about the need to think about how they could open the spectrum up for even for those own reasons that it is good for them. that is not much of an answer. i guess i would say, yeah, there has to be collaboration and policymakers should -- if they are not now, be more involved potentially in some of the discussions earlier on and not be necessarily as passive. there are tradeoffs with that, too and

. >> john pea, carnegie mellon university.ge atkins reminds us there are a lot of possibilities so we may have standards bodies waiting for regulators to tell us what they need to develop and regulators waiting for standard bodies to pick models, where -- who should be driving this process or how do we coordinate across all of these players? >> coordination is a challenge. and i agree with both panelists earlier, that i do think the ntia and federal agencies have gotten much better, much more open in collaboration. i think i've seen that -- we've seen that, not just on panels like this, but i've seen senior military officials talk about the need to think about how they could open the spectrum up for even for those own reasons that it is good for them. that is not much of an answer. i guess i would say, yeah, there has to be collaboration and policymakers should -- if they are not now, be more involved potentially in some of the discussions earlier on and not be necessarily as passive. there are tradeoffs with that, too and ric