a kodak is one of the first kodak company cameras to come out. it is printed in a circle. why? a codec number one camera is a box. it doesn't have a view finder. it has a string you pull, it is noted with 100 shots. -- loaded with 100 shots, but there is no way to see if you are level. you would take 100, sent the box back and they would send the pictures back printed backwards a lot of them, but they would correct the horizon because it was around. they were getting ready -- rid of the horrible vignetting. it was the same problem bwt phreaner had at the lodge. you get these kodaks. i am trying to figure out what is going on. none of them are labeled. i don't know where they are. i do some reading about what happened with gould. turns out in 1889, he goes out and has a group of people, going by train and wagon to battlefield quickly. he takes 100 photographs, gets prints back and has -- prints back and has no idea where any of these or. you say that is the left flank company k, indiana. you get home and say i have no idea where these places are because i didn't take notes prett

technology company, partly because of microsoft -- they could have seen that lesson through at&t or ibm or kodaklot of innovators as well. they are very engaged. there will be more regulation of the tech sector. things like privacy. there should be at some point federal regulation that relates to that. the fact that this is the way people consume media has really brought it into a realm that we need to shape it so that the benefits outweigh the negatives. david: you have three children, seem to be well-adjusted, and you have kept them out of newspapers. how do you avoid spoiling kids like that? bill: i think that is a huge problem. ♪ david: if you were 20 years old today and you wanted to start a new company, drop out of harvard, what area would you want to start it in? bill: this is a great time for innovation because the tools are so much better. there are lots of things in biology that are interesting. there are lots of things in energy that are interesting. given my background, i would start an a.i. company whose goal would be to teach computers how to read, so they can absorb and understand

universe, the idea of secular disruption when i became portfolio manager in 2006 was really isolated like kodaktle bit but today is large part of the universe is being disrupted by secular charges, if you will. >> can you give us an example of secular challenge? >> i hate to do it at fox, cable network business, great business, you raised your prices, mid to high digits every year, you're taking share ad budget, today amazon, netflix disrupted that business and to the point where great companies are not viable companies today. >> david, what share of the s&p 500 would you say is for disruption or already disrupted? >> when we start doing the analysis 2 years ago 20% of the s&p 500, today 20% of s&p 50 has some degree of secular disruption negatively affecting business model. >> david, i tend to be a value investor, member of the value tribe and you know value has been in the dog house seemingly forever. >> last decade. >> is the disruption a problem, is reversion, the low-price stocks, low price for a reason or can they come back? >> i would say two things, one, you know, value investment worke

or kodak, they're very engaged.here will be more regulation of the tech sector, things like privacy, i'm sure they'll and there should be at some point better regulation that relates to that. the fact that now, this is the way people consume media and it has really brought it into a realm that we need to shape it so that the benefits outweigh the negatives. ♪ david: you have three children. seem to be well adjusted and you've kept them out of the newspapers and so forth. how do you avoid spoiling kids like that? bill: i think that's a huge problem. bill: global help is our biggest area. and there, the progress has been unbelievable, not just because of our work, but our partners that include the u.s. government spending on the european donor who is have really stepped up on these health issues. one of the metrics on the importance is the number of children in the world who die before the age of 5. when we got started in the year 2000 that, was over 10 million a year. now it's about five million a year. and so, you k

or kodak, they're very engaged.here will be more regulation of the tech sector, things like privacy, i'm sure they'll and there should be at some point better regulation that relates to that. the fact that now, this is the way people consume media and it has really brought it into a realm that we need to shape it so that the benefits outweigh the negatives. david: you have three children. seem to be well adjusted and you've kept them out of the newspapers and so forth. how do you avoid spoiling kids like that? bill: i think that's a huge problem. david: so if you were 20 years old today and you wanted to start a new company, drop out of harvard what, company or what area would you want to start it in? bill: well this is a great time to be doing innovation there are lots of things in biology that are very interesting. there are lots of things in energy that are very interesting. given my background, i would start an a.i. company that whose goal would be to teach computers how to read so that they can absorb and under

because of the lesson of microsoft -- of course, they could have seen that lesson through at&t or ibm or kodaklot of innovators -- they are very engaged. there will be more regulation of the tech sector, things like privacy. there should be at some point federal regulation related to that. the fact that now this is the way people consume media has really brought it into a realm that we need to shape it so the benefits outweigh the negatives. gates: that was bill speaking with david rubenstein on peer-to-peer. tune into the full interview where the two dive into a wide range of topics, including making climate change a bipartisan issue. announces a volvo bold new all electric vehicle. we hear from the ceo, next. this is bloomberg. ♪ taylor: volvo is entering a new space, unveiling plans for its first all electric vehicle. it's goal is to cut the carbon footprint on each car by 40% by 2025. the volvo ceo spoke with sherry on and amanda lang. >> from day one, it will be profitable, but with the very low volumes, you have to understand the cost will be higher, so it might be a lower profit margin

kodak at paper film, did not go digital. oil is realistically addressing the challenges of the future. they were doing that in the 1970's, but then stopped and now it has come all the way around to get. haidi: i'm sure you get this question a lot, but cell phone battery's. is it more to do with the battery or more to do with the product's life? stanley: they don't last all that long? i think you wouldn't want to pay for a battery that lasts 10 years when the product you really want a new one every two or three years. i think you basically pay for what you need. i'm sure apple and samsung know roughly how long everybody keeps their phone and they designed the battery for that. it is the lowest cost battery they can make that will last three to five years. haidi: you said you buy a battery every three to four years. what is the next big thing? stanley: i'm still busy. even at my age, i work full-time and i plan to keep doing that so long as my health holds up and my doctor tells me do not retire. i do not plan to retire. haidi

kodak, which has thousands, not just hundreds, but thousands of , whyal photography patents they didn't change the big idea when they did. then they are out of business. it's not enough to get the big ideas right. you have to formally sit down and force yourself to ask how do we refine the big ideas? at least one hour every month, all of the lessons were kernels of these different teams all over the battlefield. source ofust one intellectual challenge for me plannersing down with for another source or variety of activities. head byt get hit on the newton's apple fully formed. more likely you get hit on the head by the kernel of a big ideal and you have to shape it. that shaping process is generally best done in an inclusive way, welcoming way. you want everyone to feel like they have the opportunity to contribute rather than what people do if they are outside the tent. it is generally iterative. it should be something that continues. i mentioned i had another set for afghanistan. this was dynamic. it wasn't revolutionary change. but i would capture a new way of freezing something. walk,

companies -- partly because of microsoft -- they could have seen that lesson through at&t or ibm or kodakas well. they are very engaged. there will be more regulation of the tech sector. things like privacy. i'm sure -- and there should be at some point federal regulation that relates to that. the fact that now, this is the way people consume media has really brought it into a realm that we need to shape it so that the benefits outweigh the negatives. david: 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. ♪ david: so if you were 20 years old today and you wanted to start a new company, drop out of heard, what company or what area -- harvard, what company or what area would you start it in? bill: this is a great time for innovation because the tools are so much better. there are lots of things in biology that are very interesting. there are lots of things in energy that are interesting. given my background, i would start an a.i. company whose goal wo

we asked kodak which had thousands of digital photography patents why they didn't change the big ideas when they did. they didn't actually. so by the way it's not just enough to get those big ideas right, you have to firmly sit down and force yourself to ask how we resign the big ideas. so as a commander in iraq or afghanistan for that matter all of those lessons learned special ops and all these different teams all over the battlefield that was just one source of the intellectual challenge with a variety of other activities that we call action and forcing mechanisms. you don't get hit on the head under newton's apple with a fully formed tree normally it is the kernel of the big idea and you have to shape it. that process is generally best done in an inclusive way, welcoming way, you want everybody to feel they are contributing inside the tent rather than outside the tent. and generally, it should be something that continues. with that guidance i had in iraq and afghanistan, it is dynamic. not a revolutionary change but i would capture a new way to phrase something one of the big ideas

worthless, but let's say it turns into -- he would be very upset for me saying this, it turns into kodakould pay taxes on what it's worth today even -- >> even if the valuation -- >> even if he ends up with nothing. >> he should pay taxes he is extremely wealthy. doesn't pay much tax this is money that can fund -- >> spend it on -- he should spend his money. this is being cash poor. this is not like -- he may crave wealth but he can't use the wealth. >> of course he can. he can borrow money if he wants. he can give to charities lots of ways when you are wealth, you have $50 billion to spend whatever you want. >> i'm not suggesting he's cash poor either. >> not cash poor. >> look, becky was right if you have a 2% tax for 25 years on somebody's wealth, that's 40% of their wealth that goes away. who's going to stay in the country if you can do that this is why 12 countries in europe had a wealth tax in 1990 and three have it today. it doesn't work. people leave it's hard to enforce it's hard to calculate the wealth what you would do is you would encourage people to buy assets that departmen

stuart: eastman kodak. thank you, producer. susan: that went under. stuart: totally so. let's move on. we have some rather sad news to report for you this morning. congressman elijah cummings has died and president trump tweeting just a few moments ago. here it is. my warmest condolences to the family and many friends of congressman elijah cummings. i got to see first-hand the strength, passion and wisdom of this highly respected political leader. his work and voice on so many fronts will be very hard, if not impossible, to replace. chad pergram on capitol hill, our producer there, chad, what does his passing mean for the impeachment inquiries on the president? reporter: there were three committees looking into impeachment, the house intelligence committee, the foreign affairs committee and the oversight committee. cummings was the chair of that panel. every subpoena, every request for documents, every request for a witness, we have had the chairs of those three committees sending that out. elliott engel from foreign affairs, adam schiff from intelligence and of course,