gene: absolutely. there nothing bad about being a monopoly and there is nothing illegal about being a monopoly in this country. if natural economics drive cost down the bigger you get, and it becomes harder for small players to enter a market, or for existing players, let's say for groceries or from the news business, to shift to a digital format, if you can't compete as well, you could end up with a few dominant firms, and what you tend to get, history shows us either overpricing, not delivering the supply the market demands, not delivering the quality the market demands. these are things we think both congress and antitrust officials ought to be monitoring. carl: i will dispute the idea that there is no new entrants and no new innovation. we think twitter has been around forever. it hasn't been that long. new startups like discord. gene: i didn't say no innovation or no new startups. i did say that for certain functions we are seeing network effects and economies of scale and scope. that means cost r

genes involved in intelligence and they believe there are many more so will curtain knute develop in similar ways in school at work and in life generally. when they're 3 years old curtin to take an i.q. test for toddlers does better than kirk why. parents spend a lot of time playing and speaking with him that nurtures logical thinking and spatial awareness. currents parents would rather spend time with their smartphones so he often has to play by himself. at this age knute is smarter genes only provide a foundation they need experiences in the real world to develop. a study of twins look at the ratio in which genes nature and environment nurture influence a person's intelligence i q's and twins are more similar than they are between other siblings but when twins grow up in different environments the similarities between them also fade that reveals how much environment can affect intelligence. on an i.q. test today age 10 current has overt. because in court school the children are given more individual attention. on the other hand has to follow a rigid learning plan one that doesn't p

at this age knute is smarter genes only provide a foundation they need experiences in the real world to develop. a study of twins looked at the ratio in which genes nature and environment nurture influence a person's intelligence i q's and twins are more similar than they are between other siblings but when twins grow up in different environments the similarities between them also fade that reveals how much environment can affect intelligence. on an i.q. test of age 10 current has. overtaking knute because in court school the children are given more individual attention. on the other hand has to follow a rigid learning plan one that doesn't pay much attention to the interests and abilities of each child environment can also hinder the development of intelligence . by the time they start to think about a profession curtain knute are once again more strongly influenced by predisposition as you grow older genes play more of a role overall intelligence. at 50 both are established in their careers as a doctor and newt is a carpenter. they each followed a very different path in life but ho

may god continue to bless gene for years to come. i yield back. the speaker pro tempore: the chair recognizes the gentleman from florida, mr. soto, for ive minutes. mr. soto: thank you, mr. speaker. nearly three years ago on this day we lost 49 angels and 53 others were injured. family and friends grieved for their loved ones and our orlando strong community mourned, but we came together stronger than ever before to heal, to comfort each other, to overcome this tragedy and most importantly, to give back. as orlando strong, we swore as a community to never forget those who we lost that night, their stories, their images, their memories, and their spirits, which live on in our hearts and our memories. we can never forget this tragic act of hate against the lgbtq and latin x community, our community. fallen nue to honor the and the survivors of this tragedy. i join with my colleague tiffs, representatives stephanie murphy and val demmings, to introduce landmark legislation to have the pulse nightclub a nationally recognized memorial site. this gives

up next, the one-shot gene therapy that could treat incurable diseases.on: and imagine a $20 smartphone with a five-day battery life. those stories just ahead on "bloomberg businessweek." ♪ jason: welcome back to "bloomberg businessweek." carol: you can also listen to us on the radio. on sirius xm and in new york, in boston, in washington dc. jason: in the bay area, london, and through the bloomberg business app. carol: advances in gene therapy appeared to successfully treat once incurable patients. jason: this progress does not come cheap. i talked to james patton. james: it is a very interesting time. we are entering a new frontier in medicine. the science is accelerating rapidly. the field of therapies that replace missing or malfunctioning genes is really at a turning point after many years of struggles and setbacks. we are talking about treatments that are intended to be given to patients a single time and potentially deliver a lifetime of benefits. a possible cure, in some cases. now, there is uncertainty over the long-term whether these benefits wi

science is moving at the direction with targeted therapy, gene therapy and the like.ew paradigm on how to finance all of these medicines from the originators to the follow-on competitors ultimately but make no mistake we got it right with hatch-waxman as a country and with the -- the grid the pathway. the problem is we are not willing to address or fix some of the market anomalies are keeping biosimilars from getting the uptick they need right now. >> when generics come out, small price, there's a price and bloomberg has done some good reporting on this lately that there's been, if you're going to have cheap generics sometimes it comes with quality. its pension with overseas manufacturer, china, india and a circuit is a such a thing as a price to vote for a generic, and what do you take or what's your take on some of the cold issues that are cut into generic drugs? there have been recalls of some. what's your take on all that? >> just your last comment about recalls, if you look at fda's own data, when generics are 90% of prescriptions in the country, their percentage

of medicaid, mostly for people that are low income and there is a lot of lifesaving things through gene therapy and other life-saving drugs that are very expensive. need to set up a medicaid program so people on medicaid can take advantage of that and maybe it would be as simple as spreading out or paying for over a long period of time. instead of $1 million today, spread it out over five years. we need to make that drug or those drugs available for people that are low income. bob: you mentioned rebates, and rebates are the dollars between -- they come out when a drug manufacturer and a pharmaceutical benefit manager negotiate a price. they pay the rebate to gain formulary axiccess. you alluded to a rule, this drug rebate rule from the trump administration has not been solidified yet. earlier withring seven pharmaceutical ceo's and executives. you asked them, will you lower your drug prices if this thing comes to fruition? a lot of them said sure. some hedged quite a bit. yeah, if it only occurs in commercial. do you believe them? sen. grassley: no. let's go back. at this point there is

up next, the one-shot gene therapy that could treat incurable diseases.on: and imagine a $20 smartphone with a five-day battery life. those stories just ahead on "bloomberg businessweek." ♪ jason: welcome back to "bloomberg businessweek." carol: you can also listen to us on the radio. jason: in the bay area, london, and to the bloomberg business app. carol: advances in gene therapy appeared to successfully treat once incurable patients. jason: this progress does not come cheap. i talked to james patton. james: it is a very interesting time. we are entering a new frontier in medicine. the science is accelerating rapidly. gene therapy is really at a turning point after many years of struggles and setbacks. we are talking about treatments that are intended to be given to patients a single time and potentially deliver a lifetime of benefits. a possible cure in some cases. now there is uncertainty over the long-term whether these benefits are going to be sustained, whether patients will be needed to be treated again at some point down the track, whether they w

who wants more nudges as gene said?f the goal is to sort of minimize nudges, minimize your -- you know, sort of improve or change your connectedness to work but you're only working more, is slack doing its job? >> that might end up being a central question that we ask ourselves about slack for the next few years. i asked a question on twitter the other day about how people relate to slack and how it compares to email and i got a lot of interesting responses where people are just sharing how, you know, it's tough, it's like the more people use slack the more it becomes the place where everyone is just asking you to do stuff and people were saying it's like email and in some ways it's better but in some ways it's worse because the barrier to entry to writing a slack message is lower than it would be to writing an email and it is this expectation of being something you need to respond to instantly. people are having, i think, an evolving relationship with whether slack is actually helping them to be more productive or less

can you tell us more about the genes if somebody is a pessimist can you still make him happy no i can't do that you know but if a person wants to do something and become happy i can support him so little bit like somebody who's not very supportive i mean who you know if you really wants to change and if you really wants to do it there's a lot of exercises and training you can do to improve but in the end of the day is happiness not very individual thing different for everybody yes it is and are there any things in common. yet well what is really in common what we found with all the studies that people practice well being they live much longer up to 10 years longer that's incredible they're more fit they're more healthy they're more tractor. they have more floor they're more resilient so it's well worth investing into that well you traveled the world and you brought a lot of stories and experiences and did you gain any insight into the subject of happiness as well well what i found us are basically people are very very similar needs whether it's good relationships or flow or those those

but these weren‘t any girls genes, these are gloria vanderbilt genes.on and the whole finer fashion is that it makes a woman feel easy and at ease with herself and also her best self and you feel your best self if you‘re wearing something you feel comfortable in. her death was announced by her youngest son, the american journalist anderson cooper, he described as... despite her age, people around her would say she was the youngest person they knew. gloria vanderbilt was born in new york in 1924. she was famous before she could walk, in illustrious family name she inherited much of her father‘s fortune when she was still a baby. leading to the nickname, poor little rich girl. a notorious custody battle involving her mother and her auntie followed. dubbed, the trial of the century. then they were the four marriages, the death of a son, her life was full of incident. away from her fashion empire, she was a writer. an actress, and in a compost painter. gloria vanderbilt came from an extraordinary background and lived an extraordinary life. one magazine desc

we cannot ignore recent gene therapy approved recently, treats rare spinal disorder in children.me out with a list price of $2.1 million or so, the most expensive drug now on the market. so when we're thinking about the future, and now we have a gene therapy that is more than $2 million on list price, how can we as a society afford that kind of thing when more gene therapies are on the horizon for presumably bigger disease states than this one without wrecking our financials in some way. >> look, the cost of goods here for these products isn't trivial, hundreds of thousands in some cases. >> $2.1 million is significantly -- >> i'm not defending it but not pharmaceutical-type margins. i think one question, the reality is it's going to cost a lot of money to develop a cure, a one-time administration that's a cure for disease that treats a very small population. you have to recoup all the costs of development and all the incentives to innovate in a one-time administration. old time model chronic administration of a drug annuity. people would be on a drug their entire life. you could

gene: absolutely. interest rates in the u.s., they are still a lot higher than in the rest of the developed world, and there is room to reduce interest rates, and much more limited room elsewhere. i think you made a comment economichat an problem became a political problem. i think in this case, it is the opposite, not just in the confidence of companies to invest business and investment in the u.s., so behind-the-scenes confidence is waning, and these issues start to weigh on that overtime. best where might be the place to get more juice and safe haven? where is the least overvalued on the curve? gene: the long end of the treasury curve has room to go in a flight to quality. importantly, investment fixed income securities and corporate bonds will become the positive yielding safe haven globally, as you have central banks, not just the fed, but the ecb, looking to ease. investor bonds will be the last remaining bastion of hope in terms of positive yielding investment-grade assets. investment-grade over

science is moving at the direction with targeted therapy, gene therapy and the like.had to figure out a new paradigm on how to finance these medicines from the originators to the follow-on competitors ultimately but make no mistake we got it right with hatch-waxman as a country and with the ones who created the biosimilar pathway. the problem is we are not willing to address or fix some of the market anomalies are keeping biosimilars from getting the uptick they need right now. bob: when the generics come out and there is a lower price, there's a a price and bloomberg has done some good reporting on this lately that there's been, if you're going to have cheap generics, sometimes it comes with quality problems. this has been shown with overseas manufacturing and in china, india, and elsewhere. is there a price that is too low for generic and what is your some of the issues that are cut into generic drugs? there have been recalls of some. what's your take on all that? chip: just your last comment about recalls, if you look at fda's own data, when generics are 90% of pre

denham are in fact rather like genes themselves. i've never seen anything quite like that i hope you enjoyed to be a show and had many takeaways from it do you have a comment on social media and tell us what you thought about today's stories we'll be back next week many more sad stories until then good bye. i'm not going to think out of the gym well i guess sometimes i am but i stand up and whimper that german thinks the entire jemma culture of looking at the stereotype clad but if you think the future of the country that i'm playing the piano needed to be picked for this drama they are to me because it's all about who they know i'm a joke join me for me to jam and funded up your. post. comes time to take one step further. and face. time girl just such the up no. and the fun for the troops took the time to overcome boundaries and connection blah blah blah it's time for. a new wus coming up ahead. minds. are buying up land. it's been 15 years since the monday. she was the 1st man to walk on the moon. as a small boy she dreamed of the

gene stays with us.we will speak to the blackstone chief executive, stephen schwarzman at 6:30 in new york. this is bloomberg. ♪ get the bloomberg business flash. opec committee sees oil inventories shrinking by half a million barrels a day. that is only if the group restrains supply and the second half of the year. opec and partners will decide whether to continue with the cutbacks, a shaky demand outlook has led to weaker prices. adidas has lost a battle over its stripe logo. it was battling over rights to a trademark. the case concerned the use of three stripes in any direction on shoes or clothing. making thewarzman largest donation to oxford university in the school's 800 year history. group isof blackstone giving oxford $188 million. it will be used for a new humanities building and an institute to study the ethics of artificial intelligence. schwarzmanth stephen 6:30 a.m. boris has extended his lead to become the next u.k. prime minister. votes, nearly26 three times as many as jeremy hunt. genne a

and congress has to deal with that. >> gene robinson, joyce vance, thank you both. john i will have you back later in the special for something we want to get into. up ahead, we broke down some of mueller's key decisions. i'm thrilled to tell you for this special, presidential h historian john meacham is up next. >>> and then mueller speaks and he speaks at this man, calling out vladimir putin's attacks on our democracy and telling americans what to do about it. michael mcfaul is here. you are watching an msnbc special report "mueller speaks." it's not just easy. it's having-a-walrus-in-goal easy! roooaaaar! it's a walrus! ridiculous! yes! nice save, big guy! good job duncan! way to go! [chanting] it's not just easy. it's geico easy. oh, duncan. stay up. no sleepies. i'm missing out on our family outings because i can't find a bladder leakage product that fits. everything was too loose. but depend® fit-flex feels tailored to me. with a range of sizes for all body types. depend® fit-flex underwear is guaranteed to be your best fit. depebut we all know we'rer paying t

gene, am i an ignorant white man talking? saying somebody can be completely not racist in their heart and 45 years ago as a politician say, well, maybe that's not the right answer? i'm struggling. >> i would never call you an ignorant white man, donny, however -- >> i'm one of the few people who is willing to talk about that. >> i have a somewhat different memory of that time. i grew up in a small town south carolina during jim crow. towards the end of jim crow there were no buses in our town, but there had been a black high school, dilapitated, and a white school that had all the facilities and this and that. you know, a couple years, year before i went to high school the schools -- there was integration. so i went to the former white high school. they were less than 10% of the population. i had -- you know, so you talk about white students staying together and black students staying together, there was like a fight every day, you know? some sort of black on white conflict every day. interestingly, it was the white teachers

cancer, perhaps gene therapy and gene medicine are the two bright spots in my opinion. i'm surprise wed don't see that progress in other places in the f.d.a. areas where we have therapeutic need where the progress does not seem as bright to me. i'm asking myself, why does cancer seem to work better in terms of novel therapy scovely ry than other areas? is there something we can do from a regulatory perfect toiv disseminate that across other therapy classes? laurie: what's the answer to that? ned: part of the success in cancer has been a good lie biologic understanding of the problem. when i was on the council for the institute of aging, there was a large portfolio of alzheimer's research. i was always arguing that a lot of the funding should really be spent on basic science of alzheimer's. i didn't feel we had a sufficient understanding of the disease to do these large therapeutic trials. i think history has proven our basic science understanding there needs to be improved. so i think part of it is n.i.h. basic science. got to fund the right questions and develop a bett

for example, your genes, yourfamily history.u can't change your parents. the second thing is being male, perhaps you can change that nowadays but that doesn't affect the heart disease symptoms. males do a little bit less well than females in the hot sta kes bit less well than females in the hot stakes and we are talking about co ro nary hot stakes and we are talking about coronary disease primarily which is the lifestyle association that most people think about. you can't do anything about getting old. that is going to happen to all of us and the older you get, the more likely you are to get coronary disease. for those things that affect the heart that you can't do anything about, there's nothing you can do about them and no amount of diet or whatever will make any difference. there are some things that we can do something about. and they are extremely important. for example, smoking is definitely very bad. we shouldn't do it, the evidence is there. you're a smoker won't you? absolutely. french cigarettes. when did you stop? abo

and elise, if the idea here as gene suggests is deterrence.ration believes this makes them look tough it's not working. last month for the fourth consecutive month the border patrol announced it had broken a record at the apprehensions at the border. if this is looking tough and i don't know in what universe this looks tough, it's not working as a strategy. >> you know, i'd hope that even if a republican with the hardest of heart when it comes to border security would be moved by the incredible suffering of innocent children on the border, and i think it's time that in the media we start asking who's making money off of this? who's profiteering, what are the companies that have set up these camps and are contracting from the government, a company that john kelly left the white house and joined the board of one of the very companies and we need to be asking those hard questions about who's profiteering off of this suffering. >> and how remarkable that you actually have trump supporters saying, it's not my problem. their parents shouldn't have b

you want to make the tomato resilient or impervious to cold and much more durable you could take the genes of a flounder and transfer it into the genome of the tomato. they're not interested in feeding the world there is dead and feeding their bottom line and that bottom line is selling more and more chemicals disaster they make that's what the shareholders want feeding the world was always a greenwashing of a technology whose aim was to sell more chemicals chemical companies are experimenting in hawaii with these g.m. seeds using many many times allowable limits of pesticides using pesticides that are banned in europe. because of their potential danger both to the environment and human health. restricted use pesticides are are those that have been banned for residential use by the federal government because of evidence that they are harmful to human health in 2000 the e.p.a. bancorp pyra fos in many household products like insecticides after research showed it cause nausea in dizziness especially in children who later studies found children exposed prenatal lead to the past decide how to

gene, as a prosecutor, what do you think hearing all this? >> it's music to my ears. a rose by any other name still smells as sweet. and you can call it impeachment. you can call it an investigation, you can call it anything you want but i agree with the congressman. we have now started the process of removing the president of the united states. >> take a listen to speaker pelosi and how she was received on the point you raise, which is are we on that road or not? and what is her party want. this was at a very big california gathering that a lot of politicians spoke at. take a look. >> the president's campaign welcomed russian interference in the election, and the report lays out 11 instances of possible obstruction of justice by the president of the united states. i told you this is like coming home for me. >> you know, gene, it is like coming home. but obviously coming home to a crowd that wants her to be somewhere else than she is at this moment. >> right. well, ari, i'm from virginia, and there are two congressional districts, the 7th with congresswoman abigail sp

michael gene robinson. you are a sage, wise voice. pulitzer prize winner. your column in washington post is must read. >> i think i'm the second person to be invited back? >> yeah. >> you guys get the good prize award. we have two newbies. i'm thrilled to have you here not just because you were captain of the harvard basketball team but you have power up newsletter. used to write for "huffington post", cbs news. thrilled to have you here. i love your voice. >> happy to be the number two smartest millennial. >> we met on john's old show. with all due respect, i love your voice as a republican. you are one of the few sane republicans left? >> lobar as well. >> yes. communications director for jeb bush, you found the super pac. let's get to the wall. kamala anti-trump. kamala harris's strong stage shows why she could be the anti-trump democrats have been waiting for. >> as the only black person on this stage, i would like to speak on the issue of rights. >> there was a little girl in california who was part of the second class to integrate her public schools,

that keeps those proteins turned on and running, and connected itow to a salmon hormone gene which had the effect of keeping the growth hormone on. >> now it's free to run summer and winter i 'round.h, all year >> reporter: fletcher inserted the gene into his saanon eggs waited to see what would happen.e >> so, in ring of 1990, we saw some big ones. so, we said, "ooh, maybe it's that." >> reporter: so, you could see that these fish were bigger? >> yeah, much bigger than the other ones. >> reporter: as scientists seeing that what you're doing is working, what does that feel like? >> well, we weri just amazed, t? >> reporter: fletcher patented his technology and started a compmey, which eventually beca aquabounty. his invention is still the center of its work, a genetically-engineered salm ton that groce as fast as regular salmon while actually consuming less the difference is significant; these fish are both about two years old. it's really hard to believe that these salmon are the same age, zeand there's such a huge difference between the two of them. >> this fish is five kilos, ready

she has good genes. good genes for everything.he's been a real friend and her husband is a real friend of mine. kim kardshian west. [applause] >> hi. it really is such an honor to when here today. so thank you. my whole journey with criminal justice reform started about a year ago when i came to see the president after speaking to ivanka and jared who really fought for me to get here. and i pled the case of alice johnson who the president granted clemency to. after that, i really spent so much time going to different prisons because i really had no connection to anybody on the inside and really just felt like for me i am at the place in my life that i wanted to make a difference and just wanted to do the right thing. but i didn't know how or what to do or even really what was going on. so after going to visit so many different prisons and really sitting down with lifers, with every situation you can possibly imagine, my heart just completely opened up and i wanted to do more. so i started to study the law, which is, you know, law

good to see you, gene. thank you very much for joining us. >> thank you, liz.on a very busy day. we have moderated just a bit. still up 209 points on news that mexico may be ready to add troops to its southern border. i switched to liberty mutual, because they let me customize my insurance. and as a fitness junkie, i customize everything, like my bike, and my calves. liberty mutual customizes your car insurance, so you only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ liz: i am about to give you the best lesson as to why you shouldn't time the markets. if you got scared last week and sold out of the markets, you have missed a three-day rally, today, yesterday and the day before, of 922 points for the dow jones industrials. so for the week, it appears that we may, depending on what happens tomorrow because remember, we are getting the jobs report for the month of may from the labor department, this would be the first week to the upside out of seven weeks, so it's been a long stretch of bearish moves here but right now, it looks like we may by t

gene. >> well, you know, maybe it's a distinction without a difference. it sounds like a difference to me. the other question i have, from what the chairman said is, he had a hearing yesterday. barbara quaid, joyce vance established a prima facie case for obstruction of justice which would give congress, put congress at the height of its power. its ability to compel testimony and documents. so what is missing in that, in the step from yesterday to today? if it is so cheer cut, why not take next step? >> margaret? >> well, first of all, criminal contempt has a way of getting someone's attention more than civil contempt. so there is a difference in that way. i don't have the answers to the questions. ari, you're the better lawyer. i have another question. given what the democrats got today. the vote to enforce subpoenas with civil or criminal contempt down the road. what super powers does impeachment give chairman nadler or the democrats? that they don't have now? >> are you both conducting a

pfizer out with a gene therapy study.e details at headquarters >> reporter: it's up about 17% the companies are developing gene therapies for a rare, genetic disease that robs kids of the ability to walk before they're teenagers and can be fatal in their 20s gene therapies aim to improve if not cure the disease by delivering healthy version of the gene responsible in the update some safety issues as well as ef kaficacy that doe' stand up it was given to parents for duchenne these parents try to figure out if their children will be able to get into the trials and because the therapies can only be given once, they try to sort out which trial gives their kids the best chance today at least wall street sees sarepta as the winner. >> wow meg, so when might it be available potentially? >> reporter: for sarepta maybe 2021, but that would be pretty fast so we're still looking at a few years away, guys >> okay. meg, thank you very much jim, these biotech stocks, is that the way to play health care with less political exposure >> a

sorry, gene continue. >> no, that's fine. theresa may, a major figure in this in that she sort of offered this state visit which was an unpopular idea at the time and she actually is staying in office. she has announced her resignation. she leaves as party leader at the end of the week. she timed her departure so that she would be here for this visit since it was her idea, so she's going to see it through. there was a wonderful moment yesterday when the president went to tea with prince charles and his wife camilla parker bowls, the duchess, i guess, of something now. >> cornwall, i think. >> cornwall or whatever. >> are you the duke of something? >> and there was a moment when they sort of were walking away from the press and camilla turns and she gives a big wink to the assembled british press as if -- as if saying, you know, we know this is ridiculous, but we're going to go on. it's a wonderful moment that shows just how sort of conscious everything that the brits are doing right now is. as richard said, this is all planne