[laughter] >> and it's not the bob lutz family. i've actually been asked a few times really whether we're related to the detroit legend, the outspoken bob lutz, who's worked at the big three automakers and the answer is no. [laughter] >> if it was yes, i suppose, we already would have been cut out of the will. no. this is the george lutz family. this is a family that like many grew up in the suburbs. and grew up around cars. and we both -- my sister and i had tremendous positive memories surrounding the vehicles that we grew up in. trips to grandma's, day trips to the beach. most of our memories were positive. and as we started talking to americans we came to realize how powerful nostalgia is in re-enforcing intensely positive ideas around the automobile. at the auto museums they understand this and we went to a few. at one we met a gentleman named dave who was there for his saturday morning drive in his beloved ford mustang. and he was wearing a watkins glenn jacket over his car print shirt and we asked dave -- we said when did yo

we've been asked to times whether we are related to the detroit legend the outspoken bob lutz who worked at the auto three and the answer is no. if it was yes i suppose we already would have been cut out of the will. this is the george lutz family and this is a family that like many grew up in the suburbs and grew up around cars, and we both my sister and i had tremendous positive memories surrounding the vehicles we grew up in, trips to grand blanc, trips to the beach. most of our memories were positive and as we started talking to americans we came to realize how powerful nostalgist is in reenforcing intensely positive ideas around the automobile. at the museums they understand this and we went to if you and out when we met a gentleman named dave who was there for his saturday morning drive in his beloved ford mustang and he was wearing a watkins glen jacket over his car print shirt and we asked, we said when did you become interested in cars and he said when i opened my eyes and realized i was born. [laughter] and in many ways that is true for all of us and my sister the anthropologis

think that we don't understand the economy at all and just in case anybody is dying for the answer, bob lutzve it out in the books. the notion, think about the economy shrinking and expanding, when economists talk about it on television and in policy forms, it would be much more effective to think about the economy in terms of firms. the economy doesn't shrink and expand. firms shrink and expand. and if we began to think about public policy in terms of the signals it sends the firms, we keep talking about the gigantic economy, there is no economy without firms and the focal point has to be on if i weres so it seems to me that if we were to sort of reduce uncertainty, we would think rather than what i mentioned in my remarks, about signals that say there is more certainty in your life. for example, the regulation, we know it hasn't worked. so why not do an important signal to small businesses that says it will be easier for you to raise money and easier for investors to invest in you if we clarify it doesn't apply to small firms. the same thing around young firms and the reduction of payroll

and i refuse to buy anything from general motors of thought -- as long as bob lutz -- host: ok, we will reaction to that. guest: in the two and three wheeled vehicles, there is a host of solutions that also worked for a variety of applications. aptera is a three wheeled vehicle. the financially, there must be cut costs somewhere. -- definitionally, their house to be cut cost some more. there also regulatory issues as well, how the vehicle is regulated from a safety point of view. some of those things get balanced against each other. host: you mentioned earlier there is software these vehicles. where is the brain power for the software and the drive train, and most of the components, where is that soft for coming from, the u.s.? guest: yes, it is coming from the lithium ion batteries. there were actually invented in the united states. -- they were actually invented in the united states. all of the vehicle manufacturers are spending an enormous amount of time on the component and of this to take cost out, to take weight out because weight is very important in creating optimal energy and s