rubenstein: no.y: is because the audience, they were-- they were literally-- the word "hysterical" does apply. they were screaming so loud, they didn't-- they couldn't-- [imitates hyperventilating] and so, what we had done was we had passed them out, and the night before, we had-- i made sure that they taped the keys down. because i thought the first thing that anybody does when they get the box, is they're gonna shake it, and everybody is gonna know that everybody else has it. does everybody have a box? audience: yes! inside one of these boxes is a key. do not open it yet. if your box has a key, you will be the last person today to get one of those cute little g6s. so i had said, "we only have one car left." because i'd already given out 11 cars and we only had one car left. everybody-- and there's one more car. so when-- one lady, opened her first, you say, "everybody, open at the same time," but you know they're not. when she opened it and she started screaming, everybody else started screaming be

rubenstein: all right, let's talk about microsoft for a moment.you started that when you were in high school. and you were driven to be involved with computers. were you alone? were that many people knew about computers in those days? well, it's a fairly special time, because computers, when i was young, were super expensive. and my friend, paul allen, and i actually snuck into places at the university of washington, where they had computers that weren't being used at night. and so we were fascinated by what the computer could do, but very few people were getting exposure. we had to go out of our way, and we were lucky that we did it all. and so then when the idea of moving the computer onto a chip that intel would make, and it would make the computer literally millions of times cheaper than the ones we were using. so both more powerful and available to people on a personal level. then the idea of, okay, it would be very different. the software you needed, the way the industry would work. we were super lucky to, uh, be there when that was happenin

, david rubenstein. he has been a major major supporter of this effort. when we look at the literacy groups and other groups that are partnered including c-span it really adds to what we can have. >> for a while it was two days. >> we thought about it and wondering if we can do it. having one day especially with live capacity so people don't miss out, it might be good to think of having it in this concentrated day at the festival so people have been asking. we will look into it. >> is a costly undertaking? >> mister rubenstein has been one of the major funders of the festival and that has helped quite a bit and it helps with being able to provide a lot of the support. a lot of staff is involved. people see folks with t-shirts and head phones and making sure everything is okay and really making sure we have the security, we have all the things you need to make a festival. >> host: have states approached you about the book festival wanting to create their own? >> guest: yes. i am attending the mississippi

now thanks to the great partnership of the historical society of pennsylvania and david rubenstein, we have been able to open this gallery and display the stress together -- these drafts together, and tell the story of the evolution of the text of the constitution into the draft that was ratified in 1787. it is so exciting. i cannot wait to show it to you. let's go inside and take a look. in many ways, this gallery tells the story of the underappreciated hero of the constitutional convention, james wilson. you have all heard of james madison and alexander hamilton -- the rockstar of the moment -- and of course president washington. james wilson was the intellectual architects of the idea behind the constitution. that we the people of the united states have the sovereign power. that was the big idea and eventually the preamble of the constitution. it was not the way things started when the delegates came to philadelphia to draft the constitution. they came as representatives of individual sovereign states. of the people insisted "we the people of each state are sovereign." wilson who ha

rubenstein: when you hear about technology innovators, they often are men.xist thing? men do not tend to let women get the opportunity, or is it some other reason, and you think it will change anytime soon? >> i am not an expert on women in technology. but i will say something interesting, i was at an m.i.t. event on saturday, and the president of m.i.t. was telling me that 50% of the engineering graduates from m.i.t. are women. but if you go to most companies, 50% of the engineering staff are not women. and if you read some of the stories in the press about what happened in the silicon valley for example, 50% of the people are getting the funding and they are not women. obviously, something is causing the leakage between m.i.t., which is a premier institution and the practice. so i think, if we want to utilize all of these resources we are spending money on, we need to do something different. rubenstein: final question, is artificial intelligence a good thing for humans, are robots going to take over humanity? >> i think that misuse of ai could be horrible.

. [♪] [rubenstein reading onscreen text] rubenstein: i began to take on the life of being an interviewereven though i have a day job. of running a private equity firm. [rubenstein reading onscreen text] [♪] [inaudible dialogue] all right, you ready? are we ready? woman: we're ready. ready? okay. so we're here with lloyd blankfein, who has been the chairman and ceo of goldman sachs for 10 years. and i don't think any of your predecessors in the last two decades stayed that long. is that right? no, i don't think they stayed-- i'm sure it seemed that long, but they didn't stay that long. let's talk about your early life if we could for a moment. you grew up in new york city. when you were growing up, you didn't have a lot of money. was money anything you ever thought about when you were growing up as wanting to have a lot of money? what were you interested in when you were a young boy? i didn't think about money, because i went to school with other kids that were like us, and so i just didn't know what was-- i didn't know what-- i don't know if it would have changed me had i known, but i di

[applause] >> so please welcome to the stage mister david mccullough and mister david rubenstein. [applause] [inaudible conversations] >> our first national book festival, how many here were at the first one? anybody? how many have been to everyone? this is the first time? okay. how many people like the price of admission? [laughter] >> we are honored to have david mccullough. let me give a brief background, david is a native of pittsburgh book, grew up as -- okay, grew up as one of four boys in a family where his father had a small electrical supply company come in not quite general electric but very impressive. david went to yale where he graduated in 1955. he then went to new york. did not go back to pittsburgh but despite his parents interest in doing so, went to new york doing sports illustrated, a new publication and ultimately came to work in washington at usia and got interested in something he was interested in from his time in pittsburgh book, the johnstown club, and wrote his first book about the johnstown club which was a bestseller. that was his first book. he has wri

david rubenstein. a true believer in the power of literacy and reading and mike can do for all of us. it would not had been possible to have this event without you. [applause]. so, please walk up to the stage mister david mccall our and mr. david rubenstein. [applause]. [inaudible] the first national book festival how many people were here at the first one. anybody. how many had been to everyone. how me this is the first time. how many people like the price of admission. we are very honored to have david mccullough and his let's get quick background. grew up as one it's for boys and a family. where his family had the small electrical supply company. david went to yale where he did quite well graduated in 1955. he then went to new york york went to new york and joined sports illustrated which was then a novel novice new publication. and then came to work in washington at the usia and my at the usia got interested in something that he was interested in from his time in pittsburgh and then wrote his first

rubenstein asked if he thinks the deal will get approved. >> i don't know, but it is their decision.nk it makes sense not to have just a huge monopoly with such a big market share making a ton of profit. giganticf two oligarchies, a real fight is better. at the same time, we have another company as a possibility that we may consider to do it. we have not decided one or the other. masayoshi son, chairman, ceo and wonder of softbank on "the david rubenstein show," erring on bloomberg tv. coming up, new revelations that equifax was attacked five months before it was revealed to the public. check us out on the radio. listen on the bloomberg radio app, bloomberg.com, and on sirius xm. this is bloomberg. ♪ so we need tablets installed... with the menu app ready to roll. in 12 weeks. yeah. ♪ ♪ the world of fast food is being changed by faster networks. ♪ ♪ data, applications, customer experience. ♪ ♪ which is why comcast business delivers consistent network performance and speed across all your locations. fast connections everywhere. that's how you outmaneuver. mark: i am mark crumpton in n

with rubenstein sat down aco. set down with various ceos.he last 30 years, the innovation of the microprocessor, using it as a base to create internet. that has changed the lives of almost everybody on the earth. isng forward, i think it accelerating even more. career,arlier in your you were a technology innovator. at one point, in 2000, you lost $70 billion of net worth. what did feel like? it was a crash. everybody crashed. [laughter] somehow, at the bottom of the mysh, i actually revived spirit of fighting. actually, it felt good. [laughter] , for three days, i became richer then -- [laughter] later, i became almost broke. [laughter] 99% broken now share price. 99% in one year. david: let me ask you a question about your career. at one point, you made a investment of $20 million in alibaba. it became worth $90 billion now worth $130 billion. how did you decide it was a good investment? do you have any more like that you can recommend? [laughter] jack ma, not because of the business model, not because of the technology. it is because of hi

in this week's episode of the show,rubenstein philanthropist david rubenstein set down with chairman abigail johnson about her past to success is a woman on wall street. david: let's talk about your role as ceo, 40,000 employees. you travel the world to see them? abigail: i spend a lot of time traveling because we have major campuses all over the country and our international company with different locations around the world. i try to make sure i get a balance between being in front of employees, in front of customers. almost every time i visit a major location around the u.s. i do a town hall meeting. i hit as many of our client events as i can, because that is a great opportunity to go and see a group of clients in a very efficient way. david: and you have a preference for flying commercial? abigail: i am traipsing through airports and getting on planes all the time. to people recognize you and say, give me some money advice? abigail: usually the people who recognize me are employees, so if i am in a city where we have a big base of employees and i am more likely to be recognized.

vonnie: carlyle group's david rubenstein speaking with erik schatzker. ahead, more from the ,loomberg global business forum the inaugural one, in midtown manhattan. in the next hour, we will have and some interviews panels to, as well. this is bloomberg. nejra: live from london and new york, i'm nejra cehic. vonnie: and i'm vonnie quinn. this is bloomberg markets. it is time for our stock of the hour, and popping higher are shares of fedex. and caught estimates its outlook. abigail doolittle is with us. what is going on? like a big seems divergence. behind the midst of a cyber attack that hit their tnt business, let's take a look at their reaction since the post-market yesterday. this is an intraday chart over the past two days, and we see yesterday after they announced, the stock was down as much as 4%. 16% earnings missed, but shares are now higher, and probably it is because analysts and investors on the street seem to hit --his $40 million $14 million hit is a one time thing, and is not holding it against them. nejra: but what about the caution side

coverage of the national book festival you saw david mccullough earlier in conversation with david rubenstein, 2500 people in a packed room waiting in line as you can see around the set, cried ground gathered to see david mccullough. raymond in delaware please go ahead. >> caller: an honor to speak with you, i have many of your books. can you comment on the most recent elevated efforts to take down our national statues, those that have withstood time for over 150 years, thank you. >> guest: i find that a complicated and emotionally charged issue. i when the statue was built, when the edifice was created in memory of someone, has a great deal to do with whether or not it is something that ought to come down. the statues to the heroes of the confederacy's that were put up in the 1890s were being put up at a time when racism was rampant in the south, black people were being handed by mobs. it was an ugly awful comment on the notion, the ideal of equality in our country. if it was a monument erected as per george washington who owned slaves, and begun before the civil war then i say no, that is n

that was the softbank chairman and ceo speaking of the global business form moderated by david rubensteinthein the next boj policy decision, fidelity international in 10 minutes from now. to update our viewers. some lines out of htc. htc near this $1 billion engineering team sale to google. google buying part of that team and design team as well. htc focusing on branded phone operations. shares are still suspended inter-day. they start trading, we will update that of the bit more later on. this is bloomberg. ♪ ♪ from our studios in new york city, this is "charlie rose." leaders from around the world gather today for the second second united states general assembly. in the most anticipated speech, president trump addressed global forum for the first time. he threatened to totally to shore and called iran a rope nation. the unitedrump: states has done very well since election day last november 8. the stock market is at an all-time high, a record.

david rubenstein. [applause] a true believer in the power of literacy and reading and what it can do for all of us. it would not have been possible to have this event without you. thank you. [applause] so please welcome to the stage mr. david mccullough and mr. david rubenstein. [applause] [inaudible conversations] >> david, you were at our first national book festival, the very first one. how many people were at the first one, anybody? how many have been to every one? how many this is their first time? okay. how many people like the price of admission? [laughter] the pri [applause] >> okay. so we're very honored to have david mccullough, and let me just give you a brief background of david. david is a native of pittsburgh, grew up -- [applause] okay. grew up as one of four boys in a family where his father had a small electrical supply company. not quite general electric, but very impressive, you said. [laughter] david went to yale where he did quite well, graduated in 1955. he then went to new york,

the national book festival this year you saw david mccullough earlier in conversation with david rubenstein. 2500 people in a packed room. people waiting in line around our set here. quite a crowd gathered to see mr. mccullough. raymond in mills borrow,iting delaware. >> caller: mr. ma call law, honor to speak with you, have ao many of your books. as one of our most beloved and noted historians, can you comment on the most recent elevated efforts to take down the national statues, with stood time for over 150 years. thank you. >> guest: i find it a complicated and emotionally-charged issue. when the statue was built, when the edifice was created in memory of someone, has a greate, deal to do with whether or not it caughtcome down. the statues to the heros of the confederacy that were put you up in the 1890s were put up at a time when racism was rampant in the south. when black people were being hanged by mobs. it was an ugly, awful comment on the, the ideal of a equality in our country. if it was a monument erected as per george washington, who owned slaves, and it was put, begun long, well

scarlet: that was david rubenstein at bloomberg's global business form. "what'd you miss?"ster day. world's most influential leaders and international ceos joined us in new york for the global business form, jack ma included. he is the founder and executive chairman at alibaba and spoke with emily chang in new york city. >> i think the world is shifting from big companies to small companies. the small company means entrepreneurship. i am passionate about small business. that is the solution for this century, creating jobs come innovating, creating. if you are not created as a small business and are not innovative, you don't have a chance. this is my passion, i believe this is the future of business. >> you heard president trump speaketh united nations. what is your relationship like? >> he is a unique president. discussion last time talking about china-u.s. trade relationship and things. i think the china-u.s. relationship is very critical in this century, especially on the business side. i think they are making progress on that. >> really? top trade negotiator just called

thank you to the library of congress and david rubenstein, chairman of the festival and we will have a little chat here, a

. [♪] [rubenstein reading onscreen text]

book festival condoleezza rice being interviewed that one of the major sponsors of festival david rubenstein. over the history biography room ben macintyre has just started his talk really are going to bring that to you now live in progress. >> it's about special forces during world war ii, "rogue heroes" is the name of the book. >> effectively run away back into the desert. it sounds like a simple idea and indeed it was in many ways it was completely revolutionary because many of the middle offices at that point had a very static idea of how war is fought. the idea was the two large armies would meet in a large space and fight it out until one of them winds. what sterling was recommending was very revolutionary. amazingly he set about doing this in a very particular way. he was looking for people who were unconventional. he was looking for people who didn't really stick to the rules and he got them. one of his earliest recruits was a man called mais who was the northern are shaman with an explosive temper and a serious drink problem. and the capacity for raw and frequently unconstrained vio

david rubenstein. you can become a donor or sponsor for the festival. the instructions for donations or in your program. also, on your phone app and online. before we begin, just a few announcements. if you have your cell phone, turn them off and at the conclusion of the program, we will be taking questions from the audience at one of the microphones. this afternoon, it is a distinct pleasure of mine to be joined onstage by doctor ronald whyte, the author of american ulysses. previously, he's written many books on abraham lincoln, on lincoln's leadership and also on the rhetoric. but today, we are going to talk about ulysses s. grant. if you have not read the book yet, i can commend it to you. it is 827 pages. i was telling him before hand, i read through all 827 pages, and you do not hear about very often. that very often. given the recent conversations about the legacy of the civil war, i can't think of a better person to hear from this afternoon at the national book festival. so, as i said in your biography, you spent years working on abraham lincoln

. >> cofounder david rubenstein, today bill gates and pepsico indra nooyi, and "charlie rose." -- weswers about metal and -- meddling in the 2016 election. this is bloomberg. ♪ cory: democrats sent a letter asking for more disclosure on political advertising from internet companies, not least of which, facebook. it was disclosed it was paid by russians for election related ads. senator mark warner said a hearing will likely be held in october. joining us now is reporter, this story has many components. let's start with what we heard today about new ways to combat these kinds of ads. most importantly an anti-somatic ad. -- anti-semitic ad. >> all of this relates back to the fact that facebook has this self service advertising platform, anybody could go in and decide on our own how to target who were going to target. people on facebook have been listing their jobs and their education with very racist anti-semitic things. >> i live in oakland, california, and i am a dentist. but other people would abuse this? >> yes. it allows other people to say i work in oakland as a hairdresser, but

great partnership with the historical society of pennsylvania and the wonderful support of david rubenstein, we have been able to open this gallery and tell the story of the evolution of the text of the constitution into the draft that was ratified in 1787. it is so exciting. i can't wait to show it to you. let's go inside and take a look. in many ways, this gallery tells the story of the underappreciated hero of the constitutional convention, james wilson. we have all heard of james madison, and hamilton, and washington. james wilson was the intellectual architect of the idea behind the constitution. that we do people have the sovereign power. that was the big idea in the preamble of the constitution. it was not the way things started when the delegates came to philadelphia to draft the constitution. they came as individual representatives of sovereign states. but wilson who had served in the , continental congress, saw that the articles were too weak to achieve centralized purposes and wanted a stronger central government and president elected by the people. he insisted that we the people

spoke to david rubenstein about the company's entry into index funds.elity is famous for actively managed funds. actively managed means people picking stocks and so forth. in recent years index funds have come along. do you provide those and are not careetitive or do if somebody wants to go etf are actively managed? we want to bring products and services to people that helped them make their investment objectives. any reasonable product is something that we are interested in. line ofa very robust we areunds right now and doing great in that business. we've got the lowest fees. we've got great service. we also have a partnership to have a full range of etf's. some of them are proprietary. some of them are not. everything to have that someone could reasonably want on our platform and make it available to them in a way that is the most value added. mark: kurds choosing independence in this historic referendum. turkey might close the valve on oil exports. --t has been the threat of ahead of the referendum. live pictures. we will continue to monitor oil here

rubenstein: he was killed by a mosquito which is one of 1000 mosquitoes, a special one.g is that it is precedent setting. if you think humans can go and get this species, what is your criteria for anything that might be a nuisance and may be key to an ecosystem? all mosquitoes b -- there are someats that -- there are some bats that feed on them. there are such a small percentage of mosquitoes, and there are no other species that is dependent on them. this new genetic approach called e is drive, -- gene driv still not proven, but it has a good chance of being able to knock down populations by about 99%, over a five-year. . for the toughest parts of the world such as nigeria in the center, where malaria is really a huge problem, we probably need that to all. -- that tool. worry,ricky, some people i suppose people are worried about mosquitoes -- most people worry about the president of how such divisions -- decisions are made. you hear aboutn technology innovators, they often are men. sexist thing? men do not tend to let women get the opportunity, or is it some other reason

onto the main events i would like to introduce the cochair of the national book festival david rubenstein. [applause]e book how many people here have read the book and are going to readad the book. how many people are going to buy the book today? [applause] thank you very much for coming. a native of middletown ohio and graduate of the middletown high school. he then went to yale law school. they are here somewher somewhere along the way with bringing his- two -month-old son. [applause]onth-old if you see a two -month-old somewhere, that's his son. shortly when you started too write this book in your wildest imagination you couldn't have thought you were going to write a bestseller. >> i certainly didn't think i would.e we had at yale we had to write a thesis in order to graduate, and i wanted to write the implications of the policy or the lack thereof, and the more that i started to talk through the idea and the people that were providing especially my primary advisor was pretty successful out of their. she's the author of the tiger mother and encouraged me more and more to bring my pers

coverage of the national book festival you saw david mccullough earlier in conversation with david rubenstein, 2500 people in a packed room waiting in line as you can see around the set, cried ground gathered to see david mccullough. raymond in delaware please go ahead. >> caller: an honor to speak with you, i have many of your books. can you comment on the most recent elevated efforts to take down our national statues, those that have withstood time for over 150 years, thank you. >> guest: i find that a complicated and emotionally charged issue. i when the statue was built, when the edifice was created in memory of someone, has a great deal to do with whether or not it is something that ought to come down. the statues to the heroes of the confederacy's that were put up in the 1890s were being put up at a time when racism was rampant in the south, black people were being handed by mobs. it was an ugly awful comment on the notion, the ideal of equality in our country. if it was a monument erected as per george washington who owned slaves, and begun before the civil war then i say no, that is n

condoleezza rice being interviewed by one of the major sponsors of the festival, david rubenstein. over the history and biography room, ben macintyre is just started his talk. we will bring that to you now live in progress. it's about -- >> special forces during world war ii, "rogue heroes" is the name of the book. and then effectively run away into the desert. it sounds like a simple idea and, indeed, it was but in many ways it was completely revolutionary because many of the middle ranking officers at that point had a static idea of how war is formed. this came from the first world war, the idea that was too large armies when meat and a large space fight it out to of them wins. what started was recommending was completed different and vere revolutionary. amazingly it got permission to start recruiting and he set about doing this in a very particular way. he was looking for people who were unconventional. it was looking for people who didn't really stick by the rulea and he got them. one of his earliest recruits was a man called patty who is in northern irishman with an explosive

best interviewers i know who has his own show on bloomberg national book shares r mister david rubenstein. please welcome both of them. and thanks enjoy.th thanks for being here.out of you have now been and of the on of the government for about nine years before we get into your new book on democracy tell us what you had been doing since you left government. your teaching at stanford and what else. i have the digression into washington. i have actually been doing this since i was 25 years old. i had turn to sanford.ign po they curse -- i cursed -- i teach a course at american policy. i've been able to do a little bit of work at the private sector. i've been practicing a lot more in the private sector. that is really a great love and i'm trying to include my golf handicap. you are one of the first two women to be elected to the augusta national golf club. was an honor that you were expecting to get. a good friend who was a member of augustine held -- told me that i was being invited to join augusta i was just there dumbfounded. i was completely taken by surprise.cap? what is your handicap

what a joy to speak to rubenstein not only about financials budgets contribute to american history. equity and stephen roach is with us. the backdrop is single digit returns. do you subscribe within your normalization to the fed we have a new regime, a new set to lower returns, dovetailed a drop or lower nominal gdp? : again, i do not want to be too hard on central banks, but they have distorted the terms. they have managed asset prices post crisis. when david rubenstein talks about the returns of private equity am a he is right, but the hurdles -- equity, he is right, but the hurdles are low. a reason for getting them out of the asset the setting price, they are not put on this planet to determine returns on a whole variety of assets. will continueoach with us on bloomberg radio with a david garrard and myself. forenow, for rent the -- ze. she will be in london. francine: i will be in london. you talk about money and this is what we are thinking theresa may will focus on the. you look at brexit negotiations and they have stalled because the eu say you all of a divorce all and they

thank you to the library of congress and david rubenstein, chairman of the festival and we will have a little chat here, a couple old friends along with 1 million other acquaintances. weikel and i go way back. let's start out talking about, you are an art history major at princeton and you go to wall street and do really well. you could have been rich. you could have your own plane at this point. instead you went into the book business. tell us how that plays out. >> guest: joel and i were classmates in college. it was an accident. he thought it would be good, they didn't know we knew each other. this is an opportunity for joel to express all the resentments he feels. this is the undoing of joel and michael. the fact -- so the question is why i quit wall street. i didn't know i knew what i wanted to do with my life in college. you wanted to be there. when i got out i didn't have any plans. it didn't occur to me partly because of how i grew up. i grew up in new orleans. it didn't occur to me that i would have to. hence our history. it was a place for careers to die but it was a great

the be speaking to martin sorrell's and david rubenstein of the carlyle group. that is 11:00 a.m. york. this is bloomberg. ♪ so we need tablets installed... with the menu app ready to roll. in 12 weeks. yeah. ♪ ♪ the world of fast food is being changed by faster networks. ♪ ♪ data, applications, customer experience. ♪ ♪ which is why comcast business delivers consistent network performance and speed across all your locations. fast connections everywhere. that's how you outmaneuver. ♪\ surveillance, francine lacqua and tom keene. let's get to first word news. here is taylor riggs. taylor: caribbean islands are bracing to be hit by hurricane. maria has once again become a powerful category five storm. it is already caused widespread damage to the island of dominica. the hurricane is now headed towards the u.s. and british virgin islands and puerto rico. a secret court order authorized a wiretap of trump campaign manager before and after the election. that is according to cnn. concernstions led to of russians involved in the election with paul manafort. sources have told amanpour he w

i think the guy that's under him , ron rubenstein, he's pulling jeff sessions strings and i should notifyhe justice department and see what he's doing because this jeff sessions is just sitting on his dump. should be a special investigation. we should not let people of this caliber -- they should not be able to walk away from crimes they have committed. there's no question hillary ,linton with the play for pay she should have a special counsel. they got a special counsel for this rush of thing which is absolutely a joke and i used to be a democrat. they should expose her and get to the bottom. ishink this jeff sessions just a figurehead. he is so stupid it's not funny. host: last caller in this segment. go ahead. caller: i think if hillary clinton wants to send books -- sell books she should print out the 30,000 females. this is the most corrupt person i have ever seen in politics. she is pay for play. it's all about her and all about power. we will be joined by sir ronald sanders, antiguan & barbudan ambassador to the united states who will discuss the impact of hurricane irma on his cou

i'd like to introduce co-chair of the national book festival, david rubenstein. [applause] >> we're very honored today to have one of the best selling authors in the country with us today, person who wrote his first book and already on "the new york times" bestsell iser list. how many people here have read the book? wow. okay. how many people are going to read the book? [laughter] okay. how many people are going to go buy the book today? [laughter] our special guest is j.d. vance. i'm going to ask him to come up now. j.d.? [applause] so thank you very much for coming. let me give people who may not know your background a little introduction. j.d. is a native of middletown, ohio -- [applause] >> okay. [laughter] and a graduate of the middletown high school. he then went into the marines for four years, served in iraq -- [applause] and came back, went to ohio state and finished it in two years -- [applause] then went to yale law school, graduated there as a member of the yale law journal, clerked for a federal judge for a year. he is now in the investment world and

his own show on bloomberg, our national book festival cochair and generous reporter mister david rubenstein. please welcome both of them and thank and enjoy. >> thank you very much for coming. >> thank you welcome to everybody, thanks for being here. it's a great event, great event. >> hard to believe but you've now been out of government for nine years so before we get into your new book on democracy which i highly recommend and let's talk about it in a few moments, tell us what you've been doing is you left government other than writing three best-selling books, this is a third but you are teaching at stanford, and what else are you doing? >> i've gone back to my first profession in washington, i've been at stanford since i was 25 years old. i started that as a professor so i've returned to stanford. my appointment is in the business school but i teach both business and undergraduates, i teach a course on american foreign policy. i've been able to do a little bit of work in the private sector, a little bit in the private sector and i'm spending a lot more time practicing the piano than i

and my agent went back to pocketbooks and fortunately, i ran into an editor whose name was julie rubenstein who would become my angel in that she never once said to me this is what i want, this is what you have to do. she would say to me consider this or do you really want this or so and so. but she was to hold my hand along my own path. she did not lead me to a separate path. c-span: when did it first get into the bookstores? >> guest: may of this year. c-span: how's it doing? >> guest: very well. it will be condensed by reader's digest in january. it will become a youth edition in january. disney is looking at it as a movie. c-span: and what has been the reaction of people that you talk to when you go around? have you traveled, have you done the tour? >> guest: i have, yes, i've done the tour. it's been e nor mousily roadway -- enormously rewarding when people say i couldn't put your book down or your book has inspired me or i'm in a lot of pain. one woman, 70 years of age, called me up and said, you know, i don't believe in god and i didn't believe in prayer, but now i pray every day, an

thank you to david rubenstein, the head of the festival. we'll have a chat, a couple of old friend, along with one million other new acquaintances in the hall. michael and i go way back. we'll start talking about you were a art history major at princeton, right? then you go off to wall street, you do really, really well at saloman brothers. michael, you could have been rich, you know? you could have your own plane at that point. instead you went into the book business. tell us why you did that? how did that come about? >> so you know, joel and i were classmates in college. it is a actually, just an accident he was asked to interview me. they thought he would be good together. they didn't know we were good to each other. this is opportunity for joel to talk about the resentments. >> yes. this is the undoing project. >> yes. the question is why i quit wall street. so i didn't know i wanted what i wanted to do when i was in college. unlike you, you wanted to be a journalist and writer. when i got out, i didn't have any plans. i didn't, it didn

david rubenstein. [applause] please welcome both of them.plea [applause] and thanks, and enjoy. >> thank you very much for coming. >> thank you very much or having me here and welcome everybody.yo thanks for being here. it's a great event, great event. [applause] >> it's hard to believe but you've now been out of government for about nine years bo so before we get into your new book on democracy which i highly recommend that we will talk about it tell us what you been doing since he left government other than writing three a selling books, this is the third but other than that you were teaching at stanford and what ozzy doing? >> i've gone back to what i consider to be my real profession are they had thatat digression in washington. i started as an assistantstart professor and so i have returned to stanford. my appointment, this is a business school but i teach business classes and undergraduates. i teach a course in american foreign policy. i've been able to do a little bit of work in the private sect

onto the main event, i would like to introduce the cochair of the national book festival, david rubenstein. [applause] e' >> we are very honored today to have one of the best-selling authors in the country with us today. he wrote his first book and is already in "the new york times" bestsellers. how many people are going to read the book? how many people are going to buy the book today? our special guest is jd vance. i will ask him to come up now. [applause] so, thank you area much for coming. that may give people who may not know your background a littleio- introduction.[ae] jd is a native of middletown, ohio. and a graduate of the middletowh high school. he then went into the marines for four years, served in iraq. and came back, went to ohio state and finished in two years. and then went to yale law w school, graduated there, clerked for a federal judge for a year. he is now in the investment world in based in part in washington d.c. he is married to a former classmate from yale law schoolol who is here somewhere bringing his two -month-old son.a so, if you see a two -month-old son some