we believe that senior in encore entrepreneurship will be an important segment. these individuals have significant knowledge, experience, and often resources the use and support of their own business initiatives. on benefit from education issues related to starting and running a small business. score clients 55 and older make up our largest client age demographic today. we know you recognize what an important contributor to senior entrepreneur segment is to our economy and you will help us continue to meet this growing need. i will be pleased to answer any questions and provide you with any documentation. thank you very much. >> thank you, mr. yancey. ms. bretos. >> i am so happy to be here. thank you so much, chairman nelson, chairman landrieu, and the rest of the members of this committee. i am delighted to share my thoughts on what it takes to be a late in life entrepreneur. 9 million,urrently this is the only statistic i will give. and 31 million coming through in the next decade. i am the owner of miami senior living solutions, an innovative firm for the fir

. >> according to a recent study by the foundation, highest rate of entrepreneurship in the u.s. over the last decade has shifted to those in the 55-64 age group. yesterday a senate panel examined the growing trend of older americans starting their own businesses and ways to reduce barriers. this is one hour 20 minutes. >> good morning. with the chairman's very kind permission, i am going to convene our hearing. we do expect to have a series of votes later this morning, so we want to make sure that we have ample time to hear the testimony from our great panel of witnesses. i am very pleased that the chairman has been able to put together this joint hearing with the senate small business committee. we've just been joined by the chairman of that committee, senator landrieu, who is chairman for a few more hours i think, before she changes committees and senator cantwell becomes the chairman of the small business and entrepreneurship committee. i'm also very pleased to welcome my colleague from south carolina who has been a terrific member of the senate special committee on aging, se

the foundation and that is a reliable source of could information about entrepreneurship not partisan says 2006 through 2010 and 26% of entrepreneur activity in this economy which is the backbone was reduced from ages 28 at age 34. that was expected to almost 40 percent were produced by people 55 through 64. this difference is expected to widen as more americans age a and we have to be better positioned here in washington in the state capitals to be good partners with these entrepreneur. louisiana has led her to 60,000 residents over the age of 55 ready to go. the sba just the sheer logic a strategic partnership with aarp to provide counseling a and training to entrepreneur who would want to start a business by 2013 the collaboration had met and exceeded the goals to reach 120,000 seniors and this is just the beginning. through the court partnerships with saboorian to their here represented a series of other partnerships with the private sector this is so promising to not only provide an opportunity for seniors but to create a golf for themselves, their families, communities, the unit

is there anything different about the entrepreneurship climate here? >> much higher. >> in 2012 only one indian company among 500 firms acquired by the biggest tech companies in the world. >> as this wave of entrepreneurship in india increases, what does the u.s. stand to lose? >> you know, there are irritants like these issues but i think in some sense u.s. has positioned itself as a fountainhead p. >> many from silicon valley venture capital firms to international tech giants like microsoft are betting on indian entrepreneurs and on india itself emerging as a huge center for innovation. >>> meet an entrepreneur in india using cell phones to find people better jobs. how well do you know fast four history? visit us online. >>> while the conversation about income inequality in washington takes on political dimension, to businesses it's all about the numbers, how much consumers do or don't spend. the latest suggest the middle class isn't spending as much as it used to, certainly not near as much as the rich do. here to explain what the income divide mean

build teaches entrepreneurship to disadvantaged students in the bay area and boston.d founder of joins me now in the studio. so many people in tech support you guys which is part of the reason you are here, in addition to the fact that you guys feel teaching entrepreneurial skills is the key to adding them to stay in school. why is that? >> i think people in tech support just because the power of entrepreneurship and creativity. we have been fortunate that our supporters span from early entrepreneurs to new ones. we have found that entrepreneurship is a really powerful vehicle to help students be successful because it forces them to take healthy risks. that is what entrepreneurs do. a lot of kids are not inspired by high school but they are inspired by making money. >> you are teaching them how to start their own businesses. why would that make them stay in school rather than drop out to try to do this thing? >> it is all about making school relevant. for lower income students, high school has no meaning. if you can show how learning math is going to help with making

a list of black leaders in fields like health, education, pop culture and entrepreneurship who are making history. one of them is fashionable preteen mo bridges. he started making bow ties when he was 9 years old because he thought they made him look good. he turned that talent into a business, mo's bows. that's now generating thousands of dollars in revenue. nbc's lester holt has the story. >> talented, precocious, well dressed. >> my fall collection. >> 11-year-old mow sigh yeah bridges is that and a whole lot more. >> i'm nbt, the next big thing. >> don't laugh until you've heard his story. mo, as he likes to be called, is the creative force behind mo's bows. he makes and markets bow ties. and in the last two years has sold tens of thousands of dollars worth of his own handmade, and colorful, designs. why bow ties? >> well, bow ties, they make me look good and feel good, and they just give me that spark inside. >> how did you one day decide i would look so great in a bow tie? >> because you know, ladies love chubby cheeks. so i decided to just get a bow tie, and rock it. >> this trendy

entrepreneurship has inspired many net -- ignited their passion for school.seen kids from your programs speak and it is incredibly moving. i have been interested in you guys since last year. is a ceo frome contrast, what kind of support do these people give you? did they give you money, do they give you time? >> we are selfish and we ask for everything. they invest in our program, but they also give time. these are role models for students. i believe that some of these entrepreneurs did not all of high school, but they all loved creating something and innovation. that is what we are training our kids to do. not each child will become an entrepreneur, but we wanted to have that entrepreneurial mind that -- mindset. entrepreneursthe see themselves and our kids. that's your big fundraising gala is his weekend. they are auctioning off an internship with interest. i would love that. >> we are really excited about that. it is an opportunity for someone to have a week with the ceo of interest -- interest -- pi nterest. we are hoping it goes great time and money. >>

there is broad agreement on both sides of the aisle on entrepreneurship and the importance of increase in it and there's a little bit of optimism about -- we add that up and are we batting 400 there are? ted williams got to the hall of fame doing that once. speaker2: be fair there is a real problem in washington and one of the reasons rewrote the book is to change the conversation. but technologists are doing an amazing job but any realistic assessment that politicians for that matter or business leaders aren't necessarily keeping up with what the technology is demanding. >> that really sets up the size of the challenge because our ability to come up with policy responses to these kinds of problems is nowhere near as fast as the technology is accelerating and you spend the first one third of your book and at one point you quote an earlier book about the rise of western civilization and the industrial web salute -- revolution made a mockery of everything that came before and the second machine age will make a mockery of everything that came before. if we are at the cusp of this it's goi

it seems they really are the source of interesting as a foundation that's it towards entrepreneurshipin america. they have a lot of interesting work that we can all learn from. speaker2: what degree does the aca, giving certain tax credits for businesses, 25 employees and under play into this? >> i think on that question i will turn to some of my panel. >> that is more of a tax question. that would apply to any age. tell us some more dr. o'neill about the benefits, the economic benefits of senior entrepreneurs. >> well it really seems that there are several economic and social benefits. individuals staying in the workforce longer which as i mentioned earlier this is a well-established fact that the self-employed retire later. they indicate they are going to retire later and they do retire later and that of course is a tremendous benefit to society. if people do work longer and they are doing things they enjoy we benefit from the tax revenue and we benefit from the continued contributions to our social programs and on top of that we do have concerns that we will have some shortages in

education and tax policy and entrepreneurship. >> the president in the state of the union address, we have a chapter devoted towards short-term recommendations and there are five really important areas in that chapter and this includes education, entrepreneurship, infrastructure, immigration, and basic research. no matter what you have with the topic 101, they will say that government has a clear role to play. very little controversy about that. and this is not a time of great optimism, about getting things done in washington. we are very close to a comprehensive immigration reform bill. and it will be a great boost. there's broad agreement on both sides of the aisle and the importance of increasing this. there's a little bit of optimism about education and the two sides disagree upon what to do. but we agree that it is important. you add that up and ted williams got to the hall of fame. >> but to be fair there is a real problem in washington. and what we need is to change the conversation. because the technologies are doing a great job advancing mat. but the realistic assessment is t

entrepreneurship really crosses any sort of economic situation. whether you've got an up economy or down economy. >> reporter: one of the success stories is rides cap a technology platform that tells you how to get around but what modes of transportation are best. its target audience are millennials, one of the fastest-growing population groups in the nation's capitol, many of whom don't have cars. in just six months, they've hired 20 full and part-time employees and expect to double that workforce in the near future. >> this company could scale very quickly. we believe it will. and some of the older employees really love the opportunity to be part of a team that's going to scale and be explosive in its growth. >> reporter: make no mistake, doing a start-up in today's tough job market is risky. but creating new jobs and new businesses has always been the key to taking any economic recovery to the next level. for "nightly business report," i'm hampton pearson in washington. >>> and for some companies looking to hire more employees, a big challenge

creativity is something that machines haven't been able to do very well, entrepreneurship, motivating people, caring for people just you know a caring touch from a nurse, or somebody -- a care taker. a salesperson or motivating people or negotiating. those are all categories that, so far, we haven't seen machines really able to master. >> and if you look at all these predictions though, it does seem that the ones who are going osuffer the most are actually the middle skilled, sort of middle workers, not the higher end or the lower end. >> well, in the past couple decades that's exactly what happened, there's been kind of a polarization that a lot of the middle school jobs have been especially subject to automation, that involve a lot of high end skills entrepreneurship starting things artistic, those have done relatively well, interestingly, the ones that aren't paid well, physical work, whether it's a janitor or hairdresser,-m aren't good with the basic mobility and dexterity that we take for granted as humans or for that matter that a five-year-old can often do, picking up a dime is

we need to speed that process up, despite a lot of entrepreneurship to hear about in northern california and elsewhere, the data suggests there's been less new business grecian in the past decade and that was in the '90s or the '80s. so we are not creating those new industries fast enough. government has role in setting the table to speed that up, and for that matter to, it up and slow down. we need to make sure we are making advances on all those fronts. education, tax policy and i may have entrepreneur shep. >> let me give you some optimism. you asked about what we would advise the president in his state of the address. we have a chapter devoted to short-term recommendations in our book, and five really important areas in the chapter our education, entrepreneurship, infrastructure, immigration and basic research. no matter what econ 101 textbook you grab off the shelf written by conservatives or more liberal economist, they will say government has a clear role to play in those five areas. very little controversy on the. the optimism i can give you, and this is not a time of great optim

expressive sport too and that that independence and expressiveness pulled me away from team sports so entrepreneurship is taking over your life oh yeah i look more missiles as a as a creator plus you with sweep done with troops apprenticeship they try to get me down there so you really do the sleeve you'll be a lot but i'm too busy running an empire over here for you to leave it right you would fire trump. all next on larry king now no. problem no larry king now rob dyrdek professional skateboarder turned on debra do a producer actor t.v. star he created street league skateboarding and international competitors skateboarding series he's known for his an m.t.v. t.v. shows robin big rob dyrdek fantasy factory and ridiculousness ridiculousness if i can say it airs thursdays at ten pm on m.t.v. well rob dyrdek fantasy factory is in its final season that airs thursdays at all of them also on m.t.v. what was going to skateboarding in a while when did you become this industry you know i think even when i was very first became a vessel skateboarder i used to always say i got to treat it like a business you kn

let's continue the conversation on entrepreneurship . we are joined by judy myers.o have you on the program. you are more focused on tech companies, right? there is a vacuum where you hear about great companies that they never get to the market. is this because we do not foster talent? is her talent we do not hear about? >> it is amazing to me when i hear that. technology is not really an industry anymore. it is a layer that is affecting all businesses. you canunderstand how invest in retail or media or whatever you might invest in the public markets without understanding how technology affects those terms. one of the most successful technology ipo's was a french company. oftheir retargeting advertising, it is a massive industry that affects the likes of the wpp's and the rest of it. in our own united kingdom, monetize the mobile banking is worth athink that billion pounds at this point. these companies do not come out of nowhere. years to do x really well. armed holdings is the gold ip; dr. world. they're building the architecture for the world. armed holdings is w

the country is about working hard, entrepreneurship and incentive to make yourself by being successful that's what's happening here and it's unfortunate. you know, if you're not sure. >> thank you, america, alive and well in chicago with larry levin. sorry to cut you short, but i've got to get to the market. we've opened on the down side. we're only 15 seconds into the day and off 15 points. so the opening trend is down on wall street. 15-4 is the level. bring in market watcher charles size more. it looks like a shift. last year, stocks just wanted to go up. this year, do you think the stocks just want to go down? so, is there more selling to come? >> well, this is a correction. and last year, we really didn't have one. we had a great year. the market was up over 30% including dividends. it was time for a breather. we're getting that now in the last couple of years and the corrections have been mostly side ways and haven't been particularly deep or long lasting and i think we're towards the end of it here. stuart: charles, we'll bring you back later. that was a shrug of the shoulders.

there's an incentive for more entrepreneurship because they're not locked into a job. it's an incentive for employers to be able to hire more people because the cost of health care is lower. there's an incentive to hire workers who are going to be absentee less. i think there's a whole bunch of puts and takes here that we need to take -- >> job lock, isn't there? as a result of the job lock, you're stuck in a job, you're afraid to pursue other things because you need the job. >> that was the situation before the affordable care act. now that situation has been -- the affordable care act effectively solves that. and creates a situation where you can be more dynamic and can be more mobile. >> or be less dynamic, right? because if you do less and you potentially have a lower salary and you get more government subsidies, then -- >> the basic premise here is that people have more choices. in the same way that social security and medicare give retirees more choices than they'd have today. and on net, as i said, there's a whole lot of puts and takes but this is an extra choic

obamacare has far-reaching impacts and part of them is going to encourage entrepreneurship. >> the single mom raising three kids has to keep a job because of health care can now spend time raising kids. that's a family value. >> we're going to have parents working home and working reasonable hours. people will be able to retire. >> reporter: obamacare creates a quandary for the most productive workforce. by lower subsidies as a worker's pay increases obamacare creates a disincentive to advance and an incentive towards government dependence. >> the idea of the rugged individual who is a self-reliant person and who makes his own way in the world is something that's deeply embedded in the american character and work is deeply embedded in the american character. public policy should be trying to encourage work, trying to support work. >> reporter: house minority leader nancy pelosi has routinely said obamacare would create greater job flexibility. >> we want people to have the freedom to be a writer, a photographer, to make music, to paint, to start a business, to be unleash the entrepreneurs

no wonder the commerce secretary, miss pritzker is enthusiastic about internet policy and entrepreneurship, she was raised and schools inside the valley, in silicon valley where she went to middle school and high school in the valley and getting her mba at stanford university so no wonder she is enthusiastic about technology. this is part of trademark, silicon valley, part of her open for business agenda which she has been promoting aggressively throughout her tenure. we are so thrilled to have the commerce secretary with us today and we appreciate it. let me introduce commerce secretary penny pritzker. [applause] >> good morning, everyone. how are you? thank you very much, great to be here with all of you and thanks to everyone at the internet education foundation for all work you are doing to bring the keyboards together and internet policy. kim said i grew up in the bay area which i did. i hate to date myself but i grew up in silicon valley, silicon valley was cherry orchards. i have seen a lot of evolution in my day. most of your too young to have heard of fortune systems but that was

tech entrepreneurship is driven by a lot of companieses dririvey those demographics. the truth of the matter is, business do not get sold, they get bough what i mean by that is the best entrepreneurs are people whoo focus every day on lovoving ther customer and focus o on creatina business model to love the customer. >> how do you get those customers if you are not tooting your own horn? >> there is a role for brandg and pr in evy business. what glenn is getting at isis se people mistake pr for building and experience and a brand. the brand is what we use as shorthand. you know the value of what comes from watching "washington buness report." brand is important, but you have to have what the customers value. >> a friend of mine had a brilliant idea, she h has an app ready,y, building a business, a it will be busy as to when she launches. it will not be perfect, but if she waits, others may t thee idea. >> first of all, therare a a lot of entrepreneneurs who worry abt getting the other idea first. your idea is not what sells. it is execution. it does not matter who has

it's kind of a narrow form of entrepreneurship. take for example the silicon valley culture.what are they using? they are using computers or the internet and electronics and so one so forth almost all developed in the state sector for decades before its handed over to private power for commercialization and application. so there is initiative there. people are having fun and doing maybe interesting things but relying very heavily on the background state subsidy which takes many forms. actually everyone at m.i.t. -- salaries for years. [laughter] and for decades computers and the internet and the whole base of the i.t. culture were developed right here or similar places and so on. finally after decades it was handed over to bill gates and steve jobs to market and commercialize and make profit and make little things that you carry around with you. so it's a kind of, it has entrepreneurial aspects but it is a parasitic, it is parasitic on much more development. it's hard work. the creative work is quite substantially in the state sector. it's not just subsidy. there are many oth

jobs, entrepreneurship is down dramatically.ces, when people win they win big, have coattails and the world benefits d. it on hiown, worth $20 billion. he's not going in and saving banks like buffett does when e he knows the bunks will ultimately g bailed out. risks his own money and he wins. he's a guy that came from nothing. made that on his own. someone people shop admire. carl and i have done a couple rounds here and there. we're friends now. i will say this, though, when you look at him in his totality, done great stuff. >> his central premise, though, if you've taken the risks you deserve the glory. this rich envy is not fair or right. >> rich -- it's really rich anger at this point. a lot of anger directed at people who have been great successes. i still think, it's troubling, adam can speak to this. you're starting to see the turn against the silicon valley entrepreneurs in california. >> they deserve it. >> great success stories in this country. steve jobs, may he rest in peace, also google, facebook, twitter, all of th

, they think usually of american entrepreneurship. and the more we can represent that a broad, i think the better off we are. >> i think we'll have time for just one more question. so maybe the woman in the red there. >> actually i'm going to defer my spot to his excellency from the philippines because he raised his hand for a question as well. >> okay. >> thank you. first of all i wanted to thank doctodr. shah for a very intereg presentation. and also to publicly of knowledge the great job that usaid and the u.s. military did in the aftermath of-i am, -- typhoon high and. express my appreciation for the overwhelming generosity in terms of the assistance we got. my question to the congressman, if i may -- las [laughter] reducing foreign aid, the kind of great job that usaid, u.s. congress consider providing a greater or larger budget for institutions like usaid. not only provide you mentioned the system but also are able to develop very i guess very attractive business opportunities for u.s. firms as mentioned, the experience of ge, s

so you know, wve got to look at this -- got to encourage entrepreneurship in the pro-energy sectors. manure problem inside the beltway now. won't sgee that. the fact is, real jobs are not only heating bills at home, but real jobs and folks who work for coal companies. >> right. coal makes up about 40% of the electricity generated in the united states, and this is another example of a regulation that the president is pushing with little considation for the consequences of it. the fact, this would have massive impacts not just on our personal heating bls but on ctories, transportation, hospitals. all sorts of industries that depend on affordable energy. once again, the administration is pushing out the, picki winners and losers in the energy issue with no consideration for how it will impact americans. >> in terms of the point about new plants, you know when they stop new plants they're going to go after the old and shut them down as well. >> all right. we all have solar energy and windmills to rely on. >> forgetting that natural gas exists. >>> how would you le itf green protesters sh

this entrepreneurship is interesting. they're going to have to structurally because everyone i know there said it -- if you want to start a business you have to leave france. >> those are -- they have really moved off from the question. choosingt is like between your two beautiful dollars and francois hollande joke, i have four children. is france the new u.k. when it comes to the close relationship or is that position not usurpable. tothe language issue allows -- continues to allow them to edge out france. america needs a partner on technology. france has volunteered. i think it is -- it started with sarkozy. the french -- they have been and greatt of things britain will always be the closest ally. be number two. >> always good to chat with you. morris reid at mercury. -- hot property. is it a bubble, we will have more after the break. ♪ >> time for today's company news. selling shares of the london ipo. they will have a free float of 25%. the company expects admission to take place in march this year. three barclays emp

briefing today show monday and reported about one of the key areas of the ministry is to encourage entrepreneurship in the streets where businessmen often face the problem of non availability of financial support insurance in this regard the ministry's planning to introduce my girl in the front of a new or second single industrial towns as part of the business for about twenty twenty program in addition the single business portal business does go that casey was launched on december twenty of last year which contains all the information necessary for both beginning and experienced entrepreneur is not the monday as part of it. this website offers in the directory of business ideas containing one hundred model projects of startups what procedures of opening and obtaining permits for certificates if necessary sources of funding state support and even marketing schemes of goods or services all this will raise prestige of us were nor should he does steele's three companies you don't know a lot of people's will. a very unique addition of traffic for your words or incest is what's presented in austin on th

there's an incentive for more entrepreneurship because they're not locked into a job. it's an incentive for employers to be able to hire more people because the cost of health care is lower. there's an incentive to hire workers who are going to be absentee less. i think there's a whole bunch of puts and takes here that we need to take -- >> job lock, isn't there? as a result of the job lock, you're stuck in a job, you're afraid to pursue other things because you need the job. >> that was the situation before the affordable care act. now that situation has been -- the affordable care act effectively solves that. and creates a situation where you can be more dynamic and can be more mobile. >> or be less dynamic, right? because if you do less and you potentially have a lower salary and you get more government subsidies, then -- >> the basic premise here is that people have more choices. in the same way that social security and medicare give retirees more choices than they'd have today. and on net, as i said, there's a whole lot of puts and takes but this is an extra choic

celia has addressed the world economic forum, has been named european ambassador for female entrepreneurship as well, inspiration to women entrepreneurs, though to get something manufactured in china, she found it easier once to sign her e-mails mr. val les stand. must have made you angry, mr. val les stand got the answers and mrs. val les stand didn't. >> i was trying to produce a cell phone and just putting mister instead of mrs. got it done. nor sway a great country to start a company. there's amazing support systems for young startups who want to build, government grants, support systems and norway has an innovation house in palo alto called innovation house founded by the norwegian government to take companies to the u.s. from bigger markets. >> norwegian government helps you come to the united states? >> yes. yes. they want you to go back as well. >> i would imagine. >> ireland does similar things. a lot of european companies have a lot more government support, which wouldn't fly here. so the app itself, which deals with safety issues or safety, it struck me as one of these ideas, whic

expressive sport too and that that independence and expressiveness pulled me away from teen sports so entrepreneurship is taking the life i love more of myself as a as a creator plus you with sweet donald trump's apprenticeship they tried to get me on there so you and your sleep would be a lot but i'm too busy running an empire over here for you to get what you needed right you would fire trump. all next on larry king now. welcome to larry king now rob dyrdek professional skateboarder turned on producer actor t.v. star he created street league skateboarding and engine as.

last week and entrepreneurship was held in te none of the shandong province. eight years specializing in pink and participate in the auction the high fifty archer for nanny was fifteen thousand five hundred and fourteen thousandfive hundred dollars each month. the first option for housekeeping services in china. demand for nurses have gotten very high number of paul and one very small youtube has become a popular trend. the price dividend which is good reputation can be much higher than many of the labor. monthly salary to continue to increase demand for data shows that after the spring festival holiday the average salaries of the nurses road. the average monthly salary for nurses to one thousand three hundred us dollars to many repairs to the china which tend to shanghai. finally from economic information daily hong kong housing prices might decrease this year hong kong through the developers recently about a large increase in housing prices in the local area the hong kong mtr government announced that levy of fifteen percent stamp duty on the local housing b

the bottom line is known for a entrepreneurship, and it is concern about jobs being changed and shifteds technological innovation is happening in places like russia and europe and hotspots brought here to america. stuart: we are not creating jobs with all this, technological innovation in the united states doesn't create jobs. look at facebook, $170 billion and employs 6,000 people. charles: i don't disagree with you. if we were creating those jobs on the surface we would be calling this period in history the third industrial revolution. the first two created amazing amounts of jobs. you took artisans with shots of four five people making things to assembly lines, hundreds of thousands making things fast but if you connect the dots a couple steps further maybe we will create jobs by connecting people and technologies and ideas and may have to connect the dots. >> on the one hand technology leveling the playing field is creating more access to more people -- stuart: no question whatsoever. where are the jobs. >> i would like to see a focused jobs creation plan around the stem issues, sci

what your about company does and we talked about entrepreneurship being the backbone for gdp and 5-10. andneed accelerators mentoring and this is what people are asking for. >> you described it. them, over the space of three months, intense mentorship. it could have taken a year. it takes three months. the key thing is that we use a large number of people who know the industry and no funding and we give them access to different things. case, we need people from the financial industry and we need people who have their own startups and no how difficult it is and can share advice. we need people who are open to funding. typical and it is at the end of november, we have 300-400 overseas. our measure of success is if these startups get funded. >> this is one of the great things that london has to offer. technology and the google campus on our right hand side. we have the city of london. tension where they meet and we need to push it harder. give me a status report. the relationship is working to presently well and it is getting closer. maybe we can pick up one of the words that we heard ea

creativity is something, entrepreneurship, caring. a caretaker. salesperson. motivating people. they are categories. >> oil's watson. people know watson from winning jeopardy. it's helping the diagnosies, treatment. it's an xax of how advancing can improve our lives. >> we talk about the bounty coming with automags, longer lives and health care. already there are technologies using big data that are able to identify cancer better than so. best dyeing nosticians, leading that lives being saved. we'll all benefit from those advances. the technology is helping investment banking, call centres and others as well. >> reading your book, you say - it's the title of your book - an is that something goodwill come out. we'll see a second machine aim. >> the good. we are mindful optimist. we don't think it's a single future where it's you toep yn with the robots to the us. >> multiple futures are possible possible. if we are mindful. we can steer ourselves towards the better ot comes. the reason we wrote the book was to start the conversations. >> appreciate you are coming on. fascinating

it's a good batting deck to wait to have people normal citizens get closer and closer to what entrepreneurship is and it's a great adventure. have you ever thought of the real contents is to sue to silicon valley. the thoughts that folds who you are you sad because of this and because of the day that the weather cisco the end of the year is the easiest summoned to assist every weekend i haven't seen him once in a tu tu said is that optimism which has a mind to canteen two to help traditional helpanies to to move too entrepreneurs nine investing in them. i think the growth plates and mugs me of course and i and i like kids. there is a big difference next meets the king in california i believe i'm about sixteen thousand french citizens in california it's a lot of them aren't a commision lot of them walk with the internet's and that the technology sector. is there a risk of all the french brain drain that people in the fronds and headed to california as close to heart. of course but i think this risk is less and less important as long as we hear we will and demands and more. i knew how attractive

it's kind of a narrow form of entrepreneurship. take for example the silicon valley culture.what are they using? they are using computers or the internet and electronics and so one so forth almost all developed in the state sector for decades before its handed over to private power for commercialization and application. so there is initiative there. people are having fun and doing maybe interesting things but relying very heavily on the background state subsidy which takes many forms. actually everyone at m.i.t. -- salaries for years. [laughter] and for decades computers and the internet and the whole base of the i.t. culture were developed right here or similar places and so on. finally after decades it was handed over to bill gates and steve jobs to market and commercialize and make profit and make little things that you carry around with you. so it's a kind of, it has entrepreneurial aspects but it is a parasitic, it is parasitic on much more development. it's hard work. the creative work is quite substantially in the state sector. it's not just subsidy. there are many oth