you did teach at m.i.t. about things -- you don't like to use the word cryptocurrency -- but essentially cryptocurrencies. what is the sec doing about that? our cryptocurrencies a security or not a security? is it a currency? what is it? gary: it is clear that if you are using this new technology to raise money from others, and those other people, the public, are anticipating profits based on the efforts, that brings it into an investment contract. congress backed it back in 1933 and 1934. congress painted with a very broad brush. they painted with a broad brush to protect the public from fraud when people were raising money from the public and the public is anticipating a profit based on those individuals raising the money. it depends on the facts and circumstances. it depends obviously on each individual token. but many of these, maybe even the majority, are tokens raising money from the public where the public anticipates profits based on the efforts of the others , the promoters. david: should we anticip

you did teach at m.i.t. about things -- you don't like to use the word cryptocurrency -- but essentially cryptocurrencies. what is the sec doing about that? are cryptocurrencies a security or not a security? is it a currency? what is it? gary: it is clear that if you are using this new technology to raise money from others, and those other people, the public, are anticipating profits based on the efforts, that brings it into an investment contract. congress backed it -- back in 1933 and 1934. congress painted with a very broad brush. they painted with a broad brush to protect the public from fraud when people were raising money from the public and the public is anticipating a profit based on those individuals raising the money. it depends on the facts and circumstances. it depends obviously on each individual token. but many of these, maybe even the majority, are tokens raising money from the public where the public anticipates profits based on the efforts of the others, the promoters. david: should we antic

you did teach at m.i.t. about things -- you don't like to use the word cryptocurrency -- but essentially cryptocurrencies. what is the sec doing about that? are cryptocurrencies a security or not a security? is it a currency? what is it? gary: it is clear that if you are using this new technology to raise money from others, and those other people, the public, are anticipating profits based on the efforts, that brings it into an investment contract. congress back in 1933 and 1934, congress painted with a very broad brush. they painted with a broad brush to protect the public from fraud when people were raising money from the public and the public is anticipating a profit based on those individuals raising the money. it depends on the facts and circumstances. it depends obviously on each individual token. but many of these, maybe even the majority, are tokens raising money from the public where the public anticipates profits based on the efforts of the others, the promoters. david: should we anticipate that yo

you did teach at m.i.t. about things -- you don't like to use the word cryptocurrency -- but essentially cryptocurrencies. what is the sec doing about that? are they a security or not a security? is the currency -- what is it? gary: it is clear that if you are using this new technology to raise money from others, and those other people, the public, are anticipating profits on the efforts, that brings it into an investment contract. congress backed it back in 1933 and 1934. congress painted with a very broad brush. they painted with a broad brush to protect the public from fraud when people were raising money from the public and the public is anticipating a profit based on those individuals raising the money. it depends on the facts and circumstances. it depends obviously on each individual token. many of these, maybe even the majority, are tokens raising money from the public. where the public anticipates profits based on the efforts of the others that promote. david: should we anticipate that you will have

i ended up at m.i.t. many years later. david: you graduated and then he went right to goldman sachs? gary: i joined a group called the merger and acquisition area. a group. it was throughout the 1980's. david: you become one of the earliest partners? gary: i was honored to make it into the partnership while i was in the merger and acquisition area. david: you are making a great deal of money. why did you leave goldman sachs? gary: i spent 18 years there. i did a number of things. helped run part of the back office. it was really just a remarkable experience and opportunity. i felt some connection to public service, maybe as a kid there was a class treasurer and senior class president. i always had this connection. i felt public service was something, if i had the opportunity, i wanted to be part of. one of my mentors and bosses at goldman sachs had been chosen by president clinton to be a national academic advisor and later treasury secretary. he knew i would be a soft touch for service. when president clinton won a second

we did a virtual session that m.i.t. ran for us for 400 midgrade to senior grade software officials to educate them and artificial intelligence so they could ask the tough questions so they weren't just talking about it without any knowledge and we are going to continue to work with others. this last weekend i went to boston and during that trip i went to m.i.t. and i went to harvard and i went to other academic institutions but i also went to all of our labs, not all of them but multiple labs with lincoln, draper langer to look for what's the best we can harness but also venture capitalists. it's a business world that we have to tie into the best of our country to help us. i will close with a final thought and then i will open it up to questions. i've spoken about where we are today where we are headed and where we arewh modernizing but it's the last 20 years it has given me confidence and optimism as i look forward. we have seen dedicated people answered the call for two decades. they experimented with new technologies

we did a virtual session that m.i.t. ran for us for 400 mid grade to senior grade soft professionals to educate them in artificial intelligence so they could ask the tough questions. so they weren't just talking about it without any knowledge. and we're going to continue to work with others. just last weekend i went to boston. i went to m.i.t.. i went to harvard. i went to other academic institutions but also went to multiple labs with lincoln, draper, langer to look for what's the best out there that we can harness. but also met with venture capitalists because it's also in the business world that we have to tie and what's the best inside our country to help us. i will close with a final thought and then open it up to questions. i have spoken about where -- is today, where we are headed and where we are modernizing. the last 20 years has given me some confidence and optimism. we have seen dedicated soft professionals answering the call for decades. they have honed processes and answered the call alongside our inter-agen

she did tangible work at m.i.t. m.i.t. is just loaded with talent as she stood out there. jonathan: she is fantastic, phenomenal, and no one would disagree with you on that. tom: if she was a guy, would we be having this debate? jonathan: i think we would be. she made a did nation to a political campaign of hillary clinton. bottom line. no judgment. she's on the federal reserve, a sitting fed governor, making a political donation. gender has nothing to do with it. tom: fair. jonathan: from new york, this is bloomberg. bloomberg. [ sigh ] not gonna happen. that's it. i'm calling kohler about their walk-in bath. my name is ken. how may i help you? hi, i'm calling about kohler's walk-in bath. excellent! happy to help. huh? hold one moment please... [ finger snaps ] hmm. ♪ ♪ the kohler walk-in bath features an extra-wide opening and a low step-in at three inches, which is 25 to 60% lower than some leading competitors. the bath fills and drains quickly, while the heated seat soothes your back, neck and shoulders. kohler is an expert in bathing, so you can count on a deep so

we did a virtual session that m.i.t. ran for us for 400 midgrade to senior grade software professionals to educate them in artificial intelligence so they can ask the tough questions. so they weren't just talking about it without any knowledge. and we will continue to work with others. last weekend, i went to boston. during that trip, i went to m.i.t., i went to harvard, i went to other academic institutions. i also went to multiple labs with lincoln, draper, languor, to look for what is the best out there that we can harness, but also met with venture capitalists. it is also in the business world we have to tie in the best inside our country to help us. i will close with a final thought, and i will then open up to questions. i have spoken about where we are today, where we are headed, and where we are modernizing. the last 20 years to give me some confidence and optimism as i look forward. we have seen dedicated professionals answer the call for two decades. they have experimented with new technologies, have honed proce

threats forced evacuations at several universities overnight, clearing out a number of buildings at m.i.t., usc and nyu. police in all three cities gave the all clear after they found no evidence to substantiate threats. these are the latest in threats to universities including yale, columbia and cornell. >>> britney spears may be on the brink of regaining control over her life. overnight, britney spears' fiance posted this video showing them wearing free britney shirts. andrea fujii has more. >> reporter: this morning the free britney movement may finally come to fruition as a judge could end her conservatorship that's been in place for 14 years. jamie spears, her father, had been in control of her estimated $60 million estate until late september when the judge suspended him as her conservator and appointed a temporary one. and today's hearing could end the conservatorship all together. britney wrote earlier in the week in a since-deleted instagram post, this week is going to be very interesting for me. ♪ my life has been so overprotected ♪ >> reporter: last summer the nearly 40 yea

he is a former partner at goldman sachs, former professor at m.i.t., and a well recognized expert in financial markets. i talked with him recently about some of the issues facing the sec and how to deal with new technologies affecting our markets. your main principle is fairness and disclosure and equity. everyone is treated the same. that is the principal. gary: we talk about a three-part mission. investor protection. facilitating capital formation. companies that are raising money. we are issuers as well. we are raising money. david: since the great market recession of 2008 and 2009, you would then head of the cftc, the markets have changed dramatically because of technology developments. do you think you have been able to keep up? gary: it is a real challenge. to stay up with the remarkable innovations. the last time we updated our rules for the stock markets was in 2000 five. 16 years later, those rules, are they really ready for the 20 20's -- 2020s? they are a dark hole. i have asked my staff, what can we do to update these markets given their rapid change? david: let's talk ab

the m.i.t. tech review also says that ukraine, norway and sweden are the countries that has made the greatest rise to reduce gas emissions. the global climate policy of each of those three nations is still largely considered to be insufficient. >> boris johnson welcome to the france -- french president to the climate summit in glasgow. both leaders smiled for the cameras but in recent days, there has been in from moneys row -- an acrimonious row between the countries. both have struck and uncover my zinc tone -- an uncompromising tone about the fishing row. >> the french have given the u.k. until tuesday to hand license to the french fishermen working in the english channel. with hours to go before that ultimatum, the dispute is not resolved. since the u.k. left the eu, the british dede whore entitled to fish in their waters following negotiation's negotiation in their -- negotiations negotiated in their post brexit negotiations. u.k. authorities haverged ance to retract their threats or face an

is not seeing things the way they do. >> he had a blockchain course at m.i.t. everybody thought he would be a friend of the industry and here we are >> that's right. >> it sounds like the way you are putting it it is unlikely we will see this etf any time soon, if ever. >> yes well, until there's regulation it is a very simple problem. gentzler has been consistent, in fact his predecessor was, too, very consistent. we don't control the regulation. we need regulatory authority if we make a power grab, cftc, other agencies are going to object we need to sort this out who is in control of what right now? if you believe that is the primary issue, and it is, they've made it very clear, then they're not going to do anything until they get that control. therefore, i think -- i have known people who think it will be years before this happens now, i hope not because we need national legislation we need the national crypto act to clearly delineate where we want to go with bitcoin, where we want to go with crypto in general, but it seems like we can't even pass legislatio

but the folks from m.i.t. are taking and that includes one's private to the brain and connections it turns out that it takes a couple of that to map the connection in the brain. so it suggests that the single human mind and brain is complex as the old global internet is. so it takes a a lot and a lot of energy than it takes a glacier and it is generally a part of this with dominant technology and take away what is a part of. >> i am at 98.6 degrees fahrenheit and so it really is, i believe the technology functions and expands the human capability rather than competing with the human capability and that includes companies in silicon valley to revise their business plan and contributors as well. >> yes, that is how they approach it and then they are going to make themselves superfluous. they seem to anticipate that. so if you proceed in business on the assumption, you're going to run out of things to do if that is your business model. >> yes, i think it's quite absurd.hi inc think technology is continug to advan

he holds a doctorate from m.i.t. he was in stealth mode. he went on stage and there it was. an electric pickup. the thing the market has been calling for. people were scratching their heads thinking, how did we not hear about this startup? they raised $10.5 billion from big-name private investors. they have a lot of cash at their disposal. they have a lot of work to do. the vehicles they are building, hardly any meaningful production, and it will be a long time before they hit big volumes, the likes of which we see from tesla. amanda: this is not get a company that can say, look at our revenue? look at our profit. they have neither. ed: it has a deadline to deliver 10,000 two amazon by next year. there are supply chain issues. that is the problem. amanda: ed ludlow, great reporting. that does it for us today. for matt miller, i am amanda lang. stay with us. plenty more ahead ♪ . ♪ ♪ moving is a handful. no kidding! fortunately, xfinity makes moving easy. easy? -easy? switch your xfinity services to your new address online in about a minute. that was easy. i know, right

political scientist biologists and engineers from m.i.t. and harvard law school and a group of people who lean towards the conservator republican party but the british conservatives said we are conservatives but we have to do things for the society to stay whole as a unit and people at confidence when things are working for them. it was modeled on the british organization which was part of the conservative party like the tory party but it rich between the policy world and officeholders. he tried to be something like that within the republican party. >> was on it 10-point scale a group of liberals inclined republicans didn't entirely? >> young and practicing or whatever. it was actually starting in 1962 and when kennedy was assassinated. they said what are we all about and what should we do and we found a name for ourselves which is in wisconsin where the republican party was founded out of a bunch of prior organizations of the know-nothings and such so that specific deference to the founding republican party. >> way of the disadvantaged of

. >> so at m.i.t., it was drawn up as a map for all the connections in the human brain, and it's a -- it's really difficult. >> how many zetabytes does that take? >> that's the question. it's when it's just -- it was then, the first developed dna code, and imagine if our dna was a code, and what the code would be. and there's been mapping of the nematoad worm as a constant. at thanksgiving dinner the other year or last year or so, he was studying the connection of the nematode worm or the brain. >> wow. >> but it was also the connections in a nematode worm, and prided it to the human being, and using the connections at all times, and it turned around, and it takes a couple of bytes of connections in the human brain. >> mm-hmm. >> so it suggests that a single human mind or brain is as complexly connected as the whole global internet is. but the global internet tells you watts and energy. >> right. >> so it's so, you know, using that, and it should be next to a glacier. when you look at these problems, generally the truth and dominant technology is all a cooling systemle. it's a mess. >

very fortunate to meet my future wife, now my wife while we were both attending graduate school at m.i.t., studying urban planning. so this is her hometown. so, we fell in love and moved to her city. [♪♪♪] [♪♪♪] >> i was introduced to this part of town while working on a campaign for gavin, who is running for mayor. i was one of the organizers out here and i met the people and i fell in love with them in the neighborhood. so it also was a place in the city that at the time that i could afford to buy a home and i wanted to own my own home. this is where we laid down our roots like many people in this neighborhood and we started our family and this is where we are going to be. i mean we are the part of san francisco. it's the two neighborhoods with the most children under the age of 18. everybody likes to talk about how san francisco is not family-friendly, there are not a lot of children and families. we have predominately single family homes. as i said, people move here to buy their first home, maybe with multiple family members or multiple families in the same home and they

this is an m.i.t. professor who is absolutely definitive with an international economics. she has done the rarest of rare. not once on trade deficits i and their sustainability within our system, but also on the dysfunction between america and china. she is hugely acclaimed and academic. jonathan: i just want to line up december. on december 15, you will have a federal reserve decision. it might not be too consequential. on the 16th you will have the ecb with a big decision to make about asset purchases, and the bank of england then as well. i think you have laid it out perfectly, and i say that is a good friend of yours as well. this is the backend of the sequencing are you do you think september 16 is looking pretty good? guy: that is certainly the message i am getting from this. the implication from what they are saying is that rates are still going higher. where does not doing it this month. i think there is communication as a subtext to the lack of a rate hike today. it is about trying to manage the message for the markets. it is about trying to get everything lined u

as you know, the great olivia blanchard of m.i.t. and the international monetary fund is out with a blistering note this morning, saying forget about team temporary, forget about team gloom. he says we need to get used to the consequences of higher inflation. what are the consequent is of sustained higher inflation as olivier blanchard mentions? jean: it feeds to the entire economy. we will see some wage dynamics, but eventually, workers will want to keep up with this inflation. it is kind of a bargaining situation i haven't read yet olivier's piece, but i would suspect that for the last 20 years, inflation has been missing in action. the other big point is how will people react in terms of their expectations of inflation, i don't think there's good models of inflation expectations. jonathan: your thoughts, as always, fantastic. jean boys and -- jean boys and -- jean boivin, thank you. if i can guarantee you will have some people -- with the pressure on margins, it won't be as good. that is why we are still so divided on the outlook.

african-american, high school -- diploma kids, kids without diplomas, top of m.i.t., and universities we had everyone working. after i saw the dirty tricks with russia, i might have said no, what happened we had this country so solid, everyone was working. people that never made much money were going out and buying houses, from their salary, we had food stamps way down, people did not need it, it was a beautiful thing. i was getting calls from people very much on the left, almost radical left, let's get it is amazing what is happening. then we got like every other country in world, hit hard by china virus. we had on go down, we had to fix it. we did a phenomenal job in respect to getting supplies we had nothing. he had nothing from previous administrations, the is up cupboards were bare. we caught up with making the supplies. we were sending them to there are countries. we were doing gowns and masks and so much. and everyone had -- we were building hospitals, cuomo called from new york i built him a hospital, 2800 beds, cuomo and de blasio they hated me so much, but i built them a hos

david: gary gensler is a really smart person, an academic superstar at penn but also a professor at m.i.t. and a very young partner at goldman sachs, previously head of the cftc and now the sec. the real challenge he has is does he need to go to congress to get additional authority to regulate the currency or can he do it with existing authority? i suspect he will use existing authority. trying to get legislative approval will take ever in the markets may move well past what congress is trying to do. i think we will do things administratively. lisa: tom was viewing innovation as a positive. does gary gensler view it as a positive that you have so much money going into crypto assets? david: the sec's job is to make clear what the facts are. they're not saying this is a good investment or a bad investment. they are saying here are all of the facts you should have before you make a decision. people are not being accurate about what the facts are where the technology is pushing people to make investment decisions they might not otherwise make if they knew all of the facts. that is what his co

the recipient of the pulitzer ever is the director of the night sky journalism at m.i.t.. tonight we are discussing lawrence debut book "the memory thief" hailed by "science magazine" as emblematic and acceptable. joining us tonight the memory is moved with the rollercoaster speed of a mob -- novel while some attempts at offering a deeply compassionate insight to look at her understanding of what makes and what raikes rate pleased to have them both here with us for this event tonight so without further ado the a vote -- the podium is yours deb rand lauren. i'm so honored to be here as in part i'm such a fan of the harvard look store fan of this book and i found myself deeply annoyed because a lot of times i can do is go through book england today things that i got pulled into your store that it interfered with some of my work at my journalism program so this is me saying i'm very happy to be talking to you about this book. and your book reminded me that sometimes there are scientists who will talk about the brain as a box and memory and even more mysterious part about what

he went to m.i.t. had a great group of classmates he stayed in touch with, who became experts in p high-tech manufacturing, one of the things we spoke about -- and this was before covid and certainly covid has put a very big spotlight on our vulnerabilities along the lines of supply chain and leaving our prosperity and our ability to compete in the hands of foreign actors, many of which are hostile to us. so the idea of taking high-tech manufacturing, bringing it back here to the united states, putting a lot of money behind it, which is the idea behind rebuild, especially with mid-size companies to give them access to capital, to give them access to the kind of cutting edge technologies and enhancements that allow them to compete. and i would ask that when you look at the offshoring of jobs over the last 30 years in manufacturing, i would argue that it's much more expensive now in the vulnerable place we find ourselves so the idea is, learn to manufacture. that's what built this country up i'm a huge b

. >> let's discuss with sara seger an astrophysicist at m.i.t. thanks for joining us. i know your area of expertise is planets outside of our solar system. how will this telescope impact your work? >> well, for the first time ever we can study small planet atmospheres, planets that may be able to host life, and that's a huge step forward. >> how likely is it that this telescope will potentially find life in some other form potentially on another planet? >> well, first we're not looking for the little green humanoids. we're looking for signs of life by way of gases. gases in an atmosphere that don't belong that might be made by bacteria-type life or something like that. it's going to be a really tough job for webb, but the point is it's the first time we have the capability to do this job. >> what can exploring other planets teach us about our own planet? >> well, for now the other planets we can explore, they're incredibly different from earth. so for the time being it just kind of reinforces how special our earth is and we need to take care of it. >> tell our viewers

graduate students, lawyers, political scientists, biologists, engineers from the cambridge area, tufts, m.i.t., harvard law school. and it was a group of people who felt vaguely oriented toward a more conservative party, the republican party, but within it, more sort of like a benjamin israeli and the british but we have to do things in order for the society to stay whole and for people to have confidence that things are working for them. specifically it was modelled on a british organization called the bo group which was part of the conservative party there, but it was sort of a academic c policy world, and office holders. so the rippon side set out with this grant pretension to try to be something like that within the republican party. >> on a ten-point scale, it was a group of liberal inclined republican students entirely? i students. >> grad students. >> and then graduate. it was founded in -- >> it was actually starting to percolate in 1962. and it finally really clicked when kennedy was assassinated. we really looked at ourselves and said what are we all about, and what should we do? an

a handful of top universities now offering courses on blockchain competing with harvard, stanford, m.i.t., cornell, university of pennsylvania will even let you pay tuition in bitcoin. the head of innovation at berkeley says not having a blockchain curriculum is no longer an option >> the students are demanding courses and curriculum to teach them about blockchain and cryptocurrencies there's no question about it and i -- i think you'd be -- i can't imagine any university worth its salt in the u.s. or elsewhere is not already teaching a course or two >> reporter: skeptics say you don't need to fork over $200,000 in tuition to learn about blockchain most of what you need is there, for free, online but for the universities that do offer it, blockchain is becoming a powerful recruiting tool. >> we have literally seen students within their application to blockchain to berkeley say they chose this school specifically because they saw what blockchain was doing in the industry >> reporter: the berkeley students say interest and head count in the block chain club ebbs and flows with bitcoin pric

a handful of top universities now offering courses on blockchain competing with harvard, stanford, m.i.t., cornell, university of pennsylvania will even let you pay tuition in bitcoin. the head of innovation at berkeley says not having a blockchain curriculum is no longer an option >> the students are demanding courses and curriculum to teach them about blockchain and cryptocurrencies there's no question about it and i -- i think you'd be -- i can't imagine any university worth its salt in the u.s. or elsewhere is not already teaching a course or two >> reporter: skeptics say you don't need to fork over $200,000 in tuition to learn about blockchain most of what you need is there, for free, online but for the universities that do offer it, blockchain is becoming a powerful recruiting tool. >> we have literally seen students within their application to blockchain to berkeley say they chose this school specifically because they saw what blockchain was doing in the industry >> reporter: they say interest and head count in the blockchain club ebbs and flows with bitcoin prices this semester's

i was honored to study and research these issues at m.i.t. and what i was commenting on then was a process that the s.e.c. was going forward on. and i think then head of corporate finance was talking about in that time frame. and so without going into any one token, what i think the core test is -- and it's the test the supreme court has taken up numerous times with a broad brush, you are raising money from others, and the investing public anticipating profits based upon the efforts and some collective group of individuals. that's -- that's central test called the howie test. there are other broad brushes with regard to this as well as to when something is a note, or the reeds test that thurgood marshall wrote a few decades ago. vdly the serk is here to protect the public from fraud. and that's why congress paintwood a broad brush. >> thanks for the clarification. unfortunately congress didn't create the howie test, the same with the reveres. frankly we are dependent on a patchwork of regulation by enforcement. obviously there are people that

i found an article about m.i.t. school of management, without objection i would like to submit this. >> without objection. >> i would like to highlight some of things m.i.t. found when nate looked at the supply chain -- when nate looked at the supply chain. shows no sign of abating beyond estate multiple factors have led to the situation. this time from two overarching causes, suppliers inability to adjust for demand and government intervention. i think they are saying we are part of the problem here. when this -- what this article summarized, at the end they conclude this article is being written, product flows are progressing seasonally in the lead up to the 21 year and holidays. no relief should be expected by years end without further government intervention, the market will have some of the imbalances for the second quarter of 2022. maybe we see some relief. however, another inject -- injection of government mine could increases and lead to more shortages. i'm worried this big bill is going to inject that addit

very fortunate to meet my future wife, now my wife while we were both attending graduate school at m.i.t., studying urban planning. so this is her hometown. so, we fell in love and moved to her city. [♪♪♪] [♪♪♪] >> i was introduced to this part of town while working on a campaign for gavin, who is running for mayor. i was one of the organizers out here and i met the people and i fell in love with them in the neighborhood. so it also was a place in the city that at the time that i could afford to buy a home and i wanted to own my own home. this is where we laid down our roots like many people in this neighborhood and we started our family and this is where we are going to be. i mean we are the part of san francisco. it's the two neighborhoods with the most children under the age of 18. everybody likes to talk about how san francisco is not family-friendly, there are not a lot of children and families. we have predominately single family homes. as i said, people move here to buy their first home, maybe with multiple family members or multiple families in the same home and they

the american freight network only get paid by the mile that they drive and according to new data from m.i.t., they lose 40% of those hours they can drive everyday, waiting for loads at facilities, sitting in traffic or just because of bad weather that's just one factor creating that historic trucker shortage night swift and j.p. hunt, major operators at the port of l.a. and long beach cited trucker shortage in recent earnings. other truckers for big box stores raising pay but pay isn't the only factor causing the shortage according to trainees at the trucking school they are paid by the hour when they graduate. also they get to go home every night. major factor for trainee christian young. >> getting paid by the mile would have been a little bit of an issue for me. that work/life balance, getting paid by the mile, you're gone for a large stretch of time. that really wasn't my thing. >> reporter: and the association for independent truckers also pushing back on government data that truckers make about $47,000 a year or $22 an hour. he says that's based on a 40-hour week which just isn't the

that came out of m.i.t.. a has a close relationship with general motors and fcic in china. and it's the partner of volkswagen and general motors. the big largest automakers and respectfully the united states, china and korea and high on day. there will be another automaker joining. so i will be joining the board post merger. we are convinced it's the pick of the litter with new world batteries. the battery that comes after lithium-ion. these are batteries with a solid-state lithium metal and out. they have a lot of energy density and they go a lot further in charge a lot quicker. so we will see a revolution in batteries enter the automobile space in 2025. our interest is what metals you need to make those batteries. it will be really hard for the automakers to find enough metals to replace gasoline or hydrocarbon. so ses became our pick of the litter because we mined the nickel in the copper that you need to make those batteries in the first place. we see that as a form of vertical integration and it will be a huge winner. shery: good to have you with us and we appreciate y

very fortunate to meet my future wife, now my wife while we were both attending graduate school at m.i.t., studying urban planning. so this is her hometown. so, we fell in love and moved to her city. [♪♪♪] [♪♪♪] >> i was introduced to this part of town while working on a campaign for gavin, who is running for mayor. i was one of the organizers out here and i met the people and i fell in love with them in the neighborhood. so it also was a place in the city that at the time that i could afford to buy a home and i wanted to own my own home. this is where we laid down our roots like many people in this neighborhood and we started our family and this is where we are going to be. i mean we are the part of san francisco. it's the two neighborhoods with the most children under the age of 18. everybody likes to talk about how san francisco is not family-friendly, there are not a lot of children and families. we have predominately single family homes. as i said, people move here to buy their first home, maybe with multiple family members or multiple families in the same home and they

are you aware of a study at m.i.t. that said every nation that complies with the paris accords, it would only reduce carbon emissions by .2%. >> i am not aware of that study. >> could you take a look at it and give us your thoughts on it and give us some idea if that is true or not? that is a pretty big statement for them to make. >> the gentleman's time has expired. the gentleman from virginia is now recognized for five minutes. >> thank you so much for having this hearing. i must say my friend just talked about crises. he is absolutely right. the biden administration inherited endless crises from the trump administration. everything from an insurrection at the capital to a pandemic that was made so much worse by the lack of response from the trump administration. we just voted for a continuing resolution for national disaster relief. 175 of my republican colleagues voted against it. your budget has been zeroed out by some of my colleagues. is that a crisis to you? could it create a crisis for america in terms of prep

are you aware of a study at m.i.t. that said every nation that complies to reduce carbon emissions by 0.2%. >> i'm not aware of that study, sir. >> that's another thing. could you take a look at it and give us your thoughts on it, and give us some idea if that's true or not? it's a pretty big statement for them to make. >> the gentleman's time has expired. >> thank you, ma'am. >> thank you. the gentleman from virginia, mr. connolly, is now recognized for five minutes. mr. connally. >> thank you madam chairwoman, and thank you so much for having this ham -- hearing. administrator criswell, welcome. i must say, my friend mr. norment just talked about crises. he's absolutely right. the biden administration inherited endless crises from the previous administration. everything from an insurrection at the capitol to a pandemic that was made so much worse by the response, or lack of response, by the trump administration. by the way, if you want another crisis, fema. we just voted for continuing a resolution natural disaster r

students from china enrolled in some of our top universities, like florida institute of technology, m.i.t., and so on. i think that the person who was speaking -- and i do not recall his name. host: robert daly from the wilson center. caller: yes, thank you. he downplayed the threat that poses to the united states. in it, many of these students to return to china with a lot of technological information that really gives them a competitive edge in any areas of technology. i don't know if he mentioned -- because i came in in the middle of that, unfortunately -- i don't know if he mentioned the confucius institutes on campus. there were probably about 100 confucius institutes on different campuses across the country. i believe that some of them have been found to be involved in chinese -- part of chinese espionage program. that is really a concern. i think that concern was downplayed a bit too much. host: all right jim, her that point. robert in mississippi. independents. -- independent. good morning. caller: i wanted to talk about january the first, or january the third insurrection. host:

very fortunate to meet my future wife, now my wife while we were both attending graduate school at m.i.t., studying urban planning. so this is her hometown. so, we fell in love and moved to her city. [♪♪♪] [♪♪♪] >> i was introduced to this part of town while working on a campaign for gavin, who is running for mayor. i was one of the organizers out here and i met the people and i fell in love with them in the neighborhood. so it also was a place in the city that at the time that i could afford to buy a home and i wanted to own my own home. this is where we laid down our roots like many people in this neighborhood and we started our family and this is where we are going to be. i mean we are the part of san francisco. it's the two neighborhoods with the most children under the age of 18. everybody likes to talk about how san francisco is not family-friendly, there are not a lot of children and families. we have predominately single family homes. as i said, people move here to buy their first home, maybe with multiple family members or multiple families in the same home and they

students from china enrolled in some of our top universities, like florida institute of technology, m.i.t., and so on. i think that the person who was speaking -- and i do not recall his name. host: robert daly from the wilson center. caller: yes, thank you. he downplayed the threat that poses to the united states. in it, many of these students to return to china with a lot of technological information that really gives them a competitive edge in any areas of technology. i don't know if he mentioned -- because i came in in the middle of that, unfortunately -- i don't know if he mentioned the confucius institutes on campus. there were probably about 100 confucius institutes on different campuses across the country. i believe that some of them have been found to be involved in chinese -- part of chinese espionage program. that is really a concern. i think that concern was downplayed a bit too much. host: all right jim, her that point. robert in mississippi. independents. -- independent. good morning. caller: i wanted to talk about january the first, or january the third insurrection. host:

as professor kevin essfelt of m.i.t. has written, gain of function research looks like a gamble that civilization can't afford to risk yet here we are again with you steadfast in your denials. why does it matter? because gain of function research with laboratory created viruses not found in nature could cause a pandemic even worse the next time. we're suffering today from one that has a mortality of approximately 1%. they're experimenting with viruses that have mortalities between 15 and 50%. yes, our civilization could be at risk from one of these viruses. experiments that combine unknown viruses with coronaviruses with as much as 50% mortality could endanger civilization as we know it, and here you sit unwilling to accept any responsibility for the current pandemic and unwilling to take any steps to prevent gain of function research from possibly unleashing an even more deadly virus. you mislead the public by saying that the published viruses could not be covid. well, exactly no one is alleging that. no one is alleging

>> i think you were referring to testimony i gave when i was at m.i.t., testimony i gave to this committee in 2019, if i remember. and i was speaking to what the s.e.c. career staff had said. so -- >> i'm asking your view now. i understand all of that context. i've done the research and, in fact, i was at that hearing. but is it your view now that -- that bitcoin and ether are not securities? >> no, i'm not going to get into any one token, but i think the securities laws are quite clear. if you're raising money from somebody else and the investing public believes, they anticipate or have a reasonable anticipation of profits based on the efforts of others, that fits within the securities law. and so -- >> okay, that's why today, along those same lines, chairman gensler, that's why i introduced the clarity for visual tokens act based on the digital token safe harbor proposal. i asked about this before. have you had a chance to review her proposal? >> the commissioner and i talk actively about these matters but i have not yet reviewed -- i think you just introduced your bill this morning and

very fortunate to meet my future wife, now my wife while we were both attending graduate school at m.i.t., studying urban planning. so this is her hometown. so, we fell in love and moved to her city. [♪♪♪] [♪♪♪] >> i was introduced to this part of town while working on a campaign for gavin, who is running for mayor. i was one of the organizers out here and i met the people and i fell in love with them in the neighborhood. so it also was a place in the city that at the time that i could afford to buy a home and i wanted to own my own home. this is where we laid down our roots like many people in this neighborhood and we started our family and this is where we are going to be. i mean we are the part of san francisco. it's the two neighborhoods with the most children under the age of 18. everybody likes to talk about how san francisco is not family-friendly, there are not a lot of children and families. we have predominately single family homes. as i said, people move here to buy their first home, maybe with multiple family members or multiple families in the same home and they