david: what position? stephen: tackle. david: are there any jewish football players?ore owners or players? stephen: actually, we have a jewish cornerback. josh rosen. david: there are some jewish players. stephen: i wish he was a better quarterback. david: did you think you would be an nfl player? stephen: no. david: let's talk about how you actually can to be an owner. it's not that easy to buy a team. a cost of fair amount of money. you grew up in detroit? stephen: yes. david: your father was an inventor. stephen: right. david: is that a real job that you tinker with things? stephen: well, i mean, he was always tinkering. always in the office trying to do something. david: is that a steady income? stephen: not really. he did well. he married my mother. david: what did your mother to? stephen: she was a housewife. david: you grew up in the detroit area. you went to ninth grade. your family moved to my -- miami for high school. why? stephen: my grandfather bought a hotel. my father, his inventing days were over. he had to make a living. he went down to help manage the

david: would you ever sell? stephen: no. david: never going to sell? stephen: no. david: ok.a football player when you were younger? stephen: i played high school football. david: really? what position were you? stephen: tackle. david: ok, there are a lot of people who are owners of nfl teams who are jewish. oare there any jewish football players? [laughter] were there more owners or more players who were jewish? stephen: actually, we have a jewish quarterback, josh rosen. david: so there are some jewish players. stephen: i wish he was a better quarterback. [laughter] maybe i would be playing today. david: did you ever think you would be an nfl player? stephen: not a quarterback. [laughter] david: let's talk about how you came to be an owner. it is not that easy to buy a team. it costs a fair amount of money. let's talk about your background. you grew up, originally, in the detroit area? stephen: yes. david: your father was an inventor? stephen: right. david: what is an inventor? is that a real job? you just tinker with things? stephen: well, i mean, he was always tinkering,

david: is it worth $1.1 billion today? stephen: no. a lot more. david: would you ever sell?tephen: no. david: were you a football player when you were younger? stephen: i played high school football. david: what position? stephen: tackle. david: there are a lot of people who own football teams who are jewish. are there any jewish football players? more owners or players? [laughter] stephen: actually, we have a jewish cornerback. josh rosen. david: there are some jewish players. stephen: i wish he was a better cornerback. [laughter] david: did you think you would be an nfl player? stephen: no. david: let's talk about how you actually came to be an owner. it's not that easy to buy a team. it costs a fair amount of money. you grew up in detroit? stephen: yes. david: your father was an inventor. stephen: right. david: is that a real job that you tinker with things? stephen: well, i mean, he was always tinkering. always in the office trying to do something. david: is that a steady income? stephen: not really. he did well. he married my mother. she had a wealthy father. david: wha

david: you are on the uber board? yasir: yes. david: how did that deal come about? did uber call you up, did you say it was a good opportunity? how did that come about? yasir: it came about from an app that i use, uber. it was an amazing app. i liked the service. an amazing disruptor. they came in, provided better service for the same customers for lesser prices. it was an amazing combination. there was one of the uber executives visiting the country, and he was visiting me for something else, and i knew about the uber. i asked him about it, and he said, yes, they were considering a capital raise. i asked the team to look into it. we love it. went through the whole structure we have, and we have layers and layers of investment diligence and what have you. we came to our investment committee, then the board, they all loved it. and so we decided -- david: and so do you use uber yourself when you are in the united states or in the kingdom? yasir: i used to use it a lot. david: they must know who you are when you show up. yasir: [laughs] maybe they do, yeah. david: anot

david: would you ever sell? stephen: no. david: never going to sell? stephen: no. david: ok.e you a football player when you were younger? stephen: i played high school football. david: really? were you?tion where you stephen: tackle. david: were there any jewish football players? where there more owners or more players who were jewish? stephen: we have a jewish quarterback. josh rosen. david: so there are some jewish players. stephen: i wish he was a better quarterback. maybe i would be playing today. david: did you ever think you would be an nfl player? stephen: not a quarterback. david: let's talk about how you came to be an owner. it is not that easy to buy a team. let's talk about your background. you grew up originally in the detroit area? stephen: yes. david: your father was an inventor? davidstephen: right. david: what is an inventor? is that a real job? stephen: he was always tinkering and always trying to do something. david: is that a steady income? when you are tinkering? stephen: not really. he married my mother. she had a wealthy father. david: what did your mot

david: right. dr.ci: this antibody as we are speaking is being tested in the democratic republic of the congo as one of the potential treatments for ebola. david: somebody comes to me and says i had ebola and i am ok now, it is ok to shake their hand? dr. fauci: yeah. david: they are safe? dr. fauci: well, you may remember when we discharged the young nurse who got infected in texas, and i discharged her from the nih and we had a press conference, and i put my arm around her and hugged her and it made the front page of the washington post. the reason i did that deliberately was to show the rest of the world that when you recover from ebola -- david: what did your wife say? dr. fauci: she thought it was fine. david: all right. this is something you decided you wanted to do in medical school? >> when i was in graduate school, i worked on hiv. and nobody knew much about ebola then, but i noticed that the glycoprotein that hiv uses had some similarities, we thought, to the glycoproteins that ebola uses. so

david: right.harles: similar, in our case, we think we will do very well offering our services free for transactions, and that is the commodity part of the business. the rest, we give people help and advice on different kinds of things, managed accounts, banking, all of those things. but the fundamental service we want to provide is free. david: so i should not worry about chuck schwab and not making money because you are giving -- charles: you should not worry about it. we are giving up 4% of our revenue in that decision. david: for those who don't really follow this, you started as a discount broker where you were giving lower commissions than the standard rates were before. today, you have become a conglomerate, in effect, in the financial services world. you have about $3.7 trillion of assets under management. so you make your money on other financial services, is that correct? charles: correct. one of the things, we are a conglomerate. but we are really not in the original sense. we only focus

david: you got a call to meet with him. >> yes. david: was it like an interview?picked you and you have to leave your job? >> i thought it was going to be an interview but it was, here's what i want you to do. -- when he told me, when can you start? i said three months and they said one month and you will do it. the next week, i got another call saying you have to come immediately. [bleep] david: what did you tell your family? [laughter] david: what did you tell your family? >> we are all proud to be in the positive changes of the country. -- my kids my kids were younger than -- they all felt this was the right thing to do. david: you have said publicly you would like it to be the largest sovereign wealth fund in the world and get to $1 trillion. >> $2 trillion. david: when do you think you will be able to get to that? >> the number looks big because the largest ever wealth fund today is about $1 trillion. we think it is very much achievable by 2030 and i will tell you where the growth will come from. performance is the first and we are doing extremely good. getti

david: let me ask you about ♪ david: let me ask you about another job you have. are the chairman, as we talked earlier, of saudi aramco, the largest publicly traded company in the world, also the largest oil company in the world. is that right? yasir: yes, the largest company from different levels. market cap, the profits we are generating are second to none, and the ipo we had was the largest in the world. david: you went public not too long ago. and that evaluation, as i recall, roughly $1.8 trillion. yasir: it was $1.7 trillion. now above $2 trillion for a couple of weeks. now it is about 1.8 trillion today. david: no company is as valuable as that company. it has traded on the local stock exchange. have you thought about listing it in new york, london, tokyo? yasir: we only offer 2% of the company. 98% of the company owned by the shareholder, the government of saudi arabia. our program is to have a multiple number of listings over the years. we are looking into it to have more offerings. these can continue to be in saudi. if we have any good stock exchange th

david: they will be all in saudi arabia?asir: the bulk of them will be in saudi, but now we have been in the financial cabinet of the world, so hopefully in the second half of the quarter our office will be in new york, and potentially london will be in the second half. we are also considering coverage in asia. most likely we will have an office either in china, hong kong, potentially singapore. david: some sovereign wealth funds say their goal is to get the highest rate of return, whatever they can do legally to get the highest level of return in the country come out of the country. is your mission to get the highest rate of return, or do you want certain goals, like improving energy diversification in the kingdom, or getting people to invest money in the kingdom, what is your principal goal? yasir: believe it or not, all of the above. we need to have higher returns, economic impact, positive economic impact, improving the diversity, also be the engine of economic growth in saudi. we are even looking into renewables and how

david: ok. so how come your team is not in the super bowl? stephen: that is a good question. hey, you know. it is not as easy as you think. [laughter] david: so let me ask about this. when will the dolphins be in the super bowl? anytime soon? and i read that tom brady might be a free agent. i don't know if you are allowed to talk about that as an owner. stephen: i heard he was going to be a free agent. but i would say that we are not allowed to talk to him until sometime in march. and you know, we are a team that is building. i don't know why he would want to come to the dolphins. he is probably one of the fiercest competitors there is. and you know, we are at the stage where the dolphins are trying to really build the team for the future and doing it through the draft. david: when it was announced super bowl is coming here, did a one of your friends say, by the way, i would like some tickets? how do you get tickets for this? stephen: i have been inundated with requests for tickets. really the n

david: do you get a discount or not? stephen: not really. david: not really.i am one of 32. david: when you are an owner of an nfl team, you get together very very often with owners. what are those meetings like with those owners? are there small egos in those rooms and very nice people and no complaining or anything? [laughter] stephen: they're not what you would expect. i think the nfl realizes you have 32 egos, and that you know, you divide and conquer. so, i think the nfl really controls the meetings. they are not what you are -- finding all of these individuals standing up and stating all of these different seasonings. are pretty calm, actually. david: so let's talk about it. when the team was owned by wayne, you bought it in 2008 or so. stephen: yeah, 2008. david: 2008, and you bought 49% with an obligation to buy another 51% or so. stephen: you had a buy-sell on the other 51%. david: you bought it the subsequent year and you paid subsequent year and you paid roughly $1.1 billion or whatever it was. something like that. stephen: $1.1 billion. david: so i

david: many people say no. once you pick what you care about, if somebody has something that can make a difference in global health, we are super interested. you know, we have a staff of 1500 people and if it is to do with global health, some of those people come out and talk through with you whatever your innovation is and how we can partner with you on that. so that is clearly in our area. if it is something that can substantially improve k-12 education, then we are going to be very interested in it. if people are asking outside of things, -- of those then fortunately you can say no, because focus is key to philanthropy. david: so people have recognized over the years that raising children is difficult. jackie kennedy famously said if you mess up raising your children, nothing else matters. you have three children, seem to be well-adjusted, and you have kept them out of the newspapers and so forth. how do you avoid spoiling kids like that? bill: i think that is a huge problem. obviously, our kids have benefit

david: why?tephen: it was always a dream to go to the university of michigan and i didn't have the grades right out of high school so i was able to transfer from florida to mash again -- michigan. you have given the university of michigan about $400 million? stephen: more. david: has the university of florida ever said to you "you were here for one year, why don't you give us anything?" [laughter] why don't you give us anything?" [laughter] don't even think they know who i am. david: why did you go to law school? is it because you're jewish? after wayne state law school you went to nyu to get a masters in tax. stephen: yes. david: then you went back to detroit and worked at a tax firm? stephen: i was a tax lawyer. to new yorkyou went in investment banking. stephen: i thought i would go back to detroit eventually but it was like i came home to a place i've never been. new york is an exciting place for young people that really want to succeed. david: you work at bear stearns and then you got fired.

[laughter] david: all right.ow, the largest companies in the world and in the united states today are technology companies -- apple, facebook, google, microsoft and so forth. do you worry that there is too much power and too much data in the hands of these technology companies, and are you surprised the government has not done something more than they have today about this? bill: well, technology has become so central that government has to think ok, what does that mean about elections? what does it mean about bullying? what does it mean about wiretapping authorities that let you find out what is going on financially, or drug money laundering and things like that. so yes, the government needs to get involved. i, for the early years of microsoft, bragged to people that i did not have an office in washington, d.c. and i eventually came to regret that statement because it was kind of almost like taunting washington, d.c. and so now the technology companies -- partly because of the lesson of microsoft -- they could h

david: ok.harvard law review and columbia law review, you were flooded with job offers from the major law firms. justice ginsburg: there wasn't a single firm in the entire city of new york that would take a chance on me. ♪ when you move homes, you move more than just yourself. that's why xfinity has made taking your internet and tv with you a breeze. really? yup. you can transfer your service online in about a minute. you can do that? yeah. and with two-hour service appointment windows, it's all on your schedule. awesome. so while moving may still come with its share of headaches... no kidding. we're doing all we can to make moving simple, easy, awesome. go to xfinity.com/moving to get started. david: from the harvard law review and columbia law review, you were flooded with job offers from the major law firms. [laughter] justice ginsburg: i had three strikes against me. david: after 13 years, did you think you had a chance to be on the supreme court? justice ginsburg: no one thinks , "my aim in

david: ok.o for those who don't really follow this, you started as a discount broker where you were giving lower commissions than the standard rates were before. today, you have become a conglomerate, in effect, in the financial services world. you have about $3.7 trillion of assets under management. so you make your money on other financial services, is that correct? charles: correct. but you know, one of the things, we are a conglomerate. but we are really not in the original sense. we only focus on what we can do for individual investors and advisors who have individual investors. david: so when you started doing this more than 40-some years ago, did you ever envision that you would be in more than the discount brokerage business? did you say i am going to build a giant conglomerate or not? charles: i did not, david. i mean certainly, we had a very limited view of where we were at the time. but frankly, we thought the original business only had -- would help maybe 10% or 15% of the population

david: ok.e harvard law review and columbia law review, you were flooded with job offers from the major law firms. [laughter] justice ginsburg: there wasn't a single firm in the entire city of new york that would take a chance on me. ♪ w?w?uhió'ñó david: from the harvard law review and columbia law review, you were flooded with job offers from the major law firms. [laughter] justice ginsburg: i had three strikes against me. david: after 13 years, did you think you had a chance to be on the supreme court? justice ginsburg: no one thinks, "my aim in life is to be a supreme court justice." david: when you first got on the court, were other justices saying, "we're happy to see you? here? let's go have dinner together?" just. ginsburg: justice o'connor was the most welcoming. he gave me some very good advice. >> would you fix your tie, please? david: well, people wouldn't recognize me if my tie was fixed, but ok.

david: was that easy to do for him, because you're a mother?tice ginsburg: he had no qualms about a woman. he had had a woman as a law clerk before. but he was concerned. southern district of new york was a busy court and sometimes, he would need a law clerk's aide even on a sunday. so professor gunther, i found out about this years later. i didn't know at the time. the professor said to judge paul judge, "give her a chance and if she doesn't work out, there's a young man in the class who is going to a downtown firm who will jump in and take over." and that was the carrot. there was also a stick. and the stick was, "if you don't give her a chance, i will never recommend another columbia student to you." david: wow. justice ginsburg: that's how it was for women of my vintage. getting the first job was powerfully hard. david: so after your clerkship, you ultimately got a position as a law professor at rutgers? justice ginsburg: yes. when i waserlude, working for the columbia project on international procedure. david: and how did you get connected

david: well, peoe ul

david: i think so. another very visible investment that you made was a very large investment, i think about $45 billion into the so-called first vision fund. so what brought that about, and are you happy with that investment? yasir: the alignment of the thinking -- that is what brought it. i remember sitting down with the crown prince, trying to strategize what exactly would be like to be invested in. of course, it is the future. so we said artificial intelligence, robotics, internet of things. so these were the main things that we would like to be in. remember, 70% of our population is under the age of 30. so we need to have something sustainable for them and for longer-term. forwhen i met with masa-san the first time, he was talking about the exact same things that we were looking for. so the alignment of the thinking us makedrove us to have a party ship with softbank. david: so today you are happy with the investment? 2.5r: it is so far, after $9.5 billion. that is fine. david: so after you made a $4

david: did you play golf at stanford?harles: i did play golf at stanford, only as a freshman, only for a period of time. and i almost flunked out. this was what happened. i was not prepared for college at that moment. david: you graduated from stanford. you went to stanford business school. and you did pretty well at stanford business school. charles: i did. david: when you graduate from stanford business school, did you say, i'm going to join a private equity firm or hedge fund or what did you do? charles: no. i always wanted to do research. as a kid, i wanted to find out how could i become successful. that was important to me. i came through the depression years, my parents did. and i wanted to sort of make money and get the resources to have choices in my life. so i moved off -- financial services was the way to go. so at age 13 or 14, i began to think about this thing, the stock market. and i went to stanford economics, business school, all financial investment management, all of that, in my early career. and then i w

david: and they will all be in saudi arabia?ority will be in saudi arabia, but we are opening in the capitals of the world. our first office will be in new york and potentially london also will be the second half. alsoll also -- we are considering some coverage in asia. most likely we will also have an office in china or hong kong are potentially even singapore. wealthsome sovereign funds say their goal is to get the highest rate of return, whatever they can do legally to get the highest rate of return. is your mission to get the highest rate of return or do you infect have certain goals like improving energy diversification in the kingdom are getting people to invest in the kingdom? what is your principal goal? yasir: all of the above. returns,o have higher positive economic impact, changing -- improving the diversity of revenues, and also engine 1 of the -- the of economic growth in saudi, looking into renewables and how we lower the omissions and all of these things. thed: a principal goal of crown prince is to make the kingd