biotech -- biogen came out with a new drug for a deadly muscle disease.he first year of treatment is $750,000. these are areas local pub companies are pushing into and across the country as well. caroline: when you are helping in such crucial areas, there's also plenty of money that needs to go into funding these long-term bets. how much of the system have you been looking at, and how much is it growing? >> the ecosystem is booming. epicenterthe absolute of biotechnology. every major pharma company has research and development here. it is education. you have 50 colleges in the boston area, 200,000 students come here. fromnvinced them to move around the world to a place with great weather. they stay. it makes incredibly fertile ground for funding. caroline: maybe not for our funding from the government at the moment. top to us about the concerns that have come in. nih seems to have kept the money flowing for the short term. there is worry about the affordable care act changes, and the trump administration and their viewpoint on health care in general. repo

there is the karzai market for control we don't see the biogen the corporate world there are reasons for that because of the currency of the realm and the politics if you give up the power you give up the ability to write the rules so there is third-party enforcement that the promise will be kept like marie antoinette was promised one thing and got another. this may seem simple but as the the fall 2014 tatters' eight --- categorization of a political scientist how long is that regime in power to develop a compendium of surveys? makes it pretty obvious with more checks and balances but some of those fundamental points that first study that conclusively shows those checks and balances would show that people are not angels to end up nowhere close to 100 democracy is an improvement. democracy is not optimal that has a transparency international scored less than 50. one-quarter of democracies out there are less than the average autocracy and there some like singapore the do well in terms of integrity but none average they are lower so francis had a book the table one results say we cannot

biogenic came out with a new drug for a deadly muscle disease. first year of treatment costs $750,000. these are areas that local companies are pushing into across the country. caroline: enou are helping to cure such crucial areas, there are money for fuin how much of the ecosystem,ow does it grow? >> the ecosystem is coming. boston is the absolute epicenter of biotechnology. every major company has r&d centers here. we've got 50 colleges. there are 200,000 students here. we convinced them to move from around the world to a place with rate whether and they stay. and they join pharma companies and that makes them -- for tile ground. talk to us about some of the concerns of have come in. they seem to have kept the money flowing for the short term. the short-term budget have kept it going. there is worry about affordable care act changes and the trump administration and their viewpoint on health care in general. >> i had concerns around some of the trump immigration orders. attracting people means attracting people from all over the world. if there

biogen just came out with a new treatment. and the cost is $750,000 for the first treatment.reas that local companies are pushing to a across the country. caroline: when you are helping such crucial areas, there is also plenty of money that needs to go into funding. how much of the ecosystem have you been looking at, how much does it continue to grow? >> the ecosystem is booming. boston is the absolute epicenter of wild technology. -- of biotech technology. every major company has pharma centers. there is one reason. it is the education. 200,000 students come here. we convince people to move from around the world to a place with great weather. and they stay, and they join pharma companies. that makes an incredibly fertile ground for funding of these companies. caroline: maybe not funding from the government at the moment. talk to us about some of the concerns that have come in. the short-term budget seems to have kept the coffers going. there is worry about affordable care act changing and the trump administration's viewpoint on health care. doni: a lot of local companies had

however, it wasn't more as assful or as successful drug by biogen. of stocks, weside are watching oil prices, and that is after saudi arabia announced a willingness to see output cuts extended into 2018. earlier, it was a much bigger gain in oil prices. it has come down, paring the gains on the day, as there is skepticism about what the supply from the u.s. is going to look like. there's not a lot of optimism about oil prices in the long term. we have a couple different ways to slice it. we've got the price of oil, which right now is around $50 a that's not a lotbarrel, so youe the forecast is around $41. that has not much changed. it has stabilized around that level. you can also look at what is going on for the front end traded wti, which is around $51. if you are talking about where oil analysts see oil going into the future, we are talking about $51 a barrel, which is pretty darn close to where we are now. >> good stuff. julia: let's get you up to speed on the bloomberg first word news with mark crumpton. president and is really prime minister be