Ken Frazier, CEO of Merck & Co, Inc.

Ken Frazier, CEO of Merck & Co, Inc.

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So. Again thank you so much for being here with us today we really appreciate it I'm thrilled to be here as. Sara. Alluded to in your introduction you had an upbringing and thought, to your career as a death-penalty, lawyer, that was very different to most of your compatriots in the fortune 500, it's. A little bit more about how I thought bringing that experience into early career shaped you as a man so. Let me just start by saying again I'm thrilled to be here I'm it's a wonderful place to be. You. Know I think what, my, upbringing really taught me because I was born on the other side of the tracks, and, had. The opportunity because. Social. Engineers. Engaged. In, what was then called school, desegregation I, was raised in the inner city of Philadelphia. Had. Many older siblings, but my younger sister and I were born at a time when. Experimentation. Was happening, in America and one of the experiments, was it. Was called school desegregation which. Is different from integration. It meant that the, social engineers in Philadelphia, felt that a few inner-city, black children, should be put on buses for 90 minutes one way to. Go to the best schools in Philadelphia, as. A result of that which by the way I hated as a child I, realize. Now, looking, back that. I was given, an opportunity, that. Most of my friends and, even my siblings, were not given and so, I think what, that caused me to realize is that there is in fact this opportunity. Gap that exists, in our society that. If you're lucky to be put. On a bus 90 minutes a day it, closes that gap for you but, there are lots of other people who are similarly, talented. Who. Don't get those opportunities so, I started, off I guess in my career thinking about how do we those, of us who are lucky enough to have these opportunities how, do we give back how do we figure out how we can, help, those other people, who were not so fortunate not, so privileged, to, actually reach their full potential. You. Were a lawyer for a long time you. Won but not in a pejorative sense, of the word okay. You weren't you want a business lawyer and, then now, you're the CEO of one of the biggest pharmaceutical companies, in the world how, does that happen how does a lawyer get, to that stage so, the first thing I have to say about career, paths is and I've had this conversation with a lot of people is, that there's an element of serendipity in, everybody's, career path so I never. Aspired. To be a. Pharmaceutical, executive. As, as you mentioned I had. The opportunity in the private practice of law to do things that I thought were really great, adventures, whether it's teaching in South Africa, doing death penalty work, but. One day the. Phone rang, and. I, answered the, phone and it was the. General counsel of Merck who said I'd like you to come and meet with me and then CEO of Merck a really great CEO named Roy Vangelis, one of the greatest CEOs, a, you. Know the recent history I want, you to come an interview with us because we'd like to bring in a merge and I, said well okay. I'll come interview and I went, home that night and I said to. My wonderful, spouse andreia who's in the front row that, I intended, to humor my client, by going for an interview and she, said you know honey I don't want to tell you about your business but this. Whole law firm thing is a cruel hoax and you might want to think more openly, about it so, I. Did. What she told me to say dude. And, I. Ended up going to Merck a little bit against my will because I didn't think it would be nearly as adventuresome. Being in a corporation, as being, in a firm where you can represent anybody that you wanted but. Little did I know that there was going to be a real, adventure inside, mark 2. Through. Serendipity. Or not a lot of us have ended up here be Brawl, doing MBAs in the past you've been quoted as being slightly skeptical of the NBA as a degree I believe, the exact words were I'm not sure Bill Gates ever had one.

Don't. Worry we get that a lot but, I'm curious what is it you think we're, missing what is it you think we need to go out and learn in the next phase of our careers so, let me say that I, think. Business. Education really. Has its value so you should be encouraged, to hear me say that, but. But I think the issues, that we face in business, or broader, than the traditional. Issues, around, finance. Around. Marketing. I. Think. The issues that we have to address as as. Businesses. Are generally, the issues that society, faces I believe that the biggest problems, that we have in society can only be addressed, through. Sustainable, means and, I think businesses, can address those issues but. Only if their leaders, are willing to take a broad point of view about. What. It is that the business exists to do what is the fundamental. Purpose of the business you, know we have this discussion now and unfortunately. I think with people like Larry Fink it's become more, of a widespread, discussion. About whether corporations, exist solely. To create value for their shareholders, or whether they have a broader purpose, in the world I happen, to believe very strongly that a company like Merck has, a real, broad. Significant. Salient, purpose in the world it's, a hundred and twenty-seven years old and the, reason why it's lasted, for more than a century is that its purpose goes, beyond simply making, money for its shareholders if, you get up in the morning and you're sold in tennis to make money for your shareholders you'll. Miss some really, great opportunities to do a lot of good for a lot of people. That. Most particularly hard for a company like Merck where you've got employees you've, got shareholders, and most of all a team you've got patients how, do you go about weighing up those different constituents, when you whenever you make a decision well. You know there's no formulaic. Way to do it obviously but, I think the first thing is that you have to remember, that. The company, exists. For this purpose so I came to work for a really great CEO named Roy Vangelis, and I could tell you a lot of stories but the thing that I remember more than anything else is he. Used to say to me and he still says to me he's at 89 years old and I still see him frequently he, says you, know there are a lot of metrics. Around the way the company operates, but. Just remember at Merck there two, fundamental. Metrics, that if you remember a CEO, you can go through all your operating, reviews, and you can look at your margins, and you can look at your cost, of goods sold you can look at all these wonderful metrics, but. There's only two metrics and that matter number. One, how. Many people, do you help and number. Two how. Much help do you give those people and. If you're maximizing. The number of people you help and you're. Maximizing, the, amount of good that you do for the people that you are helping, then, all of those other metrics, will fall into place. I'd. Love to unpack that some more later on later on in the interview but, firstly there, are a few times when I was researching this for. This interview that I came across times, where you'd had to make really really difficult choices made, very brave choices for. Example taking. The James Caan case leaving, the presence of manufacturing, council you, also took on the highly sensitive internal, investigation, into the Paterno, Sandusky, case at Penn State and a, hugely admired how you held your ground against some people who are trying to sweep certain elements of it at under, the rug how. Do you know when to act when other people around you are being silent, or indecisive. Well. You know I had, great parents. But. My mother died when I was young so I had the experience of being raised by a single parent father who was like a drill sergeant, he, was very unsentimental. Person, but. He said to me when I was very young probably, the best piece of advice that I've ever gotten from anybody else and and here, it is in a nutshell he used to say to me Kenny what. Other people think about you is. None of your damn business. And. You know when I was young I would think how could that be you. Know I want, to be liked. I want. To be. Friendly. With all my colleagues, around me I want people to like me and and and, enjoy being around me but, the more I've experienced, in life I understand, exactly what he was saying he, was, saying that, if.

You, Can, focus. On what's the right thing to do irrespective. Of whether people, around you like you or not then. You can do the right thing so every one of those situations, the Sandusky, investigation. Was, a very difficult investigation, I'm a very proud alum of Penn State. The. Week, before the. Sandusky grand jury I actually, exchanged, correspondence. With Joe, Paterno who they'll, never be another coach like Joe Paterno no one will ever coach at a school for 60 years, he. Was a great man he, did a lot of wonderful things but. When we began to see some of the things that were happening behind. The scenes as a board then. We had to decide whether, we were gonna put the children first or whether we're gonna put the reputation of the university, first and, we chose to do what we thought was the right thing I can't, say that everybody, agrees with us in fact many of our alums think we should, have represented, the university we should have defended the University we should have defended the football program and I, think, they have a legitimate point, of view from. Where they sit at. The end of the day though it seemed to me that what was right in the long run was, that we took a strong stand, for. What needs to happen for children, and you see it happening everywhere, you see it having at Michigan State now right. Where, the same kinds, of things went on so I think that whether it's Penn State you take a death penalty case it sounds great in retrospect, when, you start that case my, client was 13 days before his execution day, there. Was a lot of hostility in, that small part of Alabama because people had bought into the story that the conviction, was correct and, in comes this northern lawyer, by the way I wearing a blue suit which you're not supposed to wear in that part of Alabama because we're still fighting that war. And. I'm here to say that. The community's. Perspective. That, the community's, story, about what happened, in the night in question is, wrong, that. Creates, a great deal of anger and, the people around you and the only way in which you can do that on a consistent basis. Is you, really have to believe what my father said what they think about you ultimately, is none of your business you. Talked. About doing the right thing and. I think a lot of people think we're at a turning, point in society, at the moment there's. A real, loss of trust in institutions. There's. And. You mentioned earlier to us and the green room the kind of conflict, you see between capitalism. And democracy in, this country and, accepting. A certain amount of social inequality is is. There a solution to this or is this an endless. Series of decisions or we have to rely on people to make the right one every time well, I. Don't. Think that I can sit here and give you one. Short. Set of solutions, what. I would say is that what I am. Greatly concerned about, our society. Is. The inability, the, seeming inability for us to. Have nuanced. Constructive. Conversations. About the issues that exist in our society, and. We will never reach. Constructive. Solutions, unless. We can have those conversations so. For, example you, know I grew up you. Know frankly, I think was I was growing, up in the 70s, I would have viewed myself as a socialist, the. Concept.

That I'm running a large pharmaceutical, company to me sometimes, I just can't believe it's true right. I remember, having an economics, professor in undergraduate, school and he was talking about capitalism. He happened to be from Eastern Europe possessor, album ski was, from was, from Eastern Europe and he was talking about the virtues of the capitalist system and I remember saying to him you're, so conservative, and he walked, over and he leaned over he looked at me he say the new sunny boy have nothing yet to conserve. I really. Get him now. So. So here I am a staunch, defender of, the free market, well. The free market. Inherently. Requires some. Level of economic inequality. Those. People who create value, are going to have more resources, than those people who consume. Value. We, can't say that everybody, is going to have exactly the same amount of resources I accept, that I think it's actually the best economic system, in the world, however. If. You allow that economic, inequality, to, translate, into political inequality. For, example, people, who have a lot of money can in fact by. Elected. Representatives, then. I have a problem with that and, so how do we think about, preserving. The, economic, system in this country which is created, not only tremendous, wealth for people in this world in this country but around the world while, I'm thinking. What what's the right balance to have in terms of our political system, how much economic. Inequality. Are we willing to tolerate in our country, you, know we we now have a situation where, our economy. Creates. A lot of value for people who hold capital. You. Know globalism. Has been great, for people who hold capital. The. Technology. Revolution, which of course is centered right out here in Silicon, Valley it's. Created a lot of value for people who hold capital but. If you're not well educated if you're a person who has a Labor job all. Of those things have actually been bad, for you because. Now machines. Take your place labor arbitrage, takes your job. Away so, how do we try. To have a balanced, economy, where. Everybody is included, without losing. What's driven, the fundamental, strength of our country for years which has been the. Economic system, that we have I can't. Answer all those questions but, I think again, the point I'm making is it's, not a choice between one. Thing or the other. Certainly, not lost you'd answer, all those questions but. We'll ask you down to one particular one we're, relying on decisive, leaders like you in health we, have a system that's hard for many of us to be optimistic, about. You're. Already highly influential in the system if you could be king for the day what's, the one thing you change about the healthcare system in this country I would make it patient-centered. I think. The incentives. In the system drive. People, away, from what's, good for patients, I'm, a CEO, of a pharmaceutical, company, I think Merck does great things in, the world, but, when you sit down with our, friends, in the insurance business they, have different economic, incentives, physicians. Have different economic incentives, I think, the only way in which we can actually come together and kind, of get alignment, around the, cost of the system. Around, the value, of the system and the impact of the system on society. And our budgets, in society, and on, patients. Is to actually say what is. Good for patients, as. A whole individually. And and from a population, standpoint I think if we could all agree that we're, here to serve patients and that we want to do what's in the best interest, of patients I think that would actually help us align the, really, badly, aligned, incentives. In our system right now how. Does that kind of conversation stop, how, do you get everywhere in the room together is it politically, led is it industry led you know we're trying to do it a bunch, of us are going to try to come together again in June from across. The. Entire healthcare spectrum. We. Think of ourselves as, the enlightened, ones. We're. All going to try to get together and see if we can have a conversation, that, bridges, some of those gaps I mean if you listen to what was. Being said the other day by President. Trump and secretary. A czar a lot of what they were focusing, on is they can see how, badly, misaligned. The incentives, are in the system so for example. You. Hear a lot about drug, pricing. The, system in which we, actually. Sell drugs in the commercial market is one in which if, you actually. Lowered, your list price you'd. Be less competitive, you. Know as an antitrust, lawyer I just can't get that through my head the way to be, non-competitive. My business is to lower your price, well, why is that well. Because many, of the actors, in the supply chain make. Money as a percentage. Of the list price, so. For them high. Prices are better than low prices.

Okay. But. If you're a person, who's filling a prescription at, the pharmacy counter. You're. Paying a copay based, on the list price so, you would actually rather have a lower price, we. Actually ran that experiment, with a hepatitis, C drug that we came out with a little while ago we said okay we, are the third entrant in the market, this is a cure let's. See what happens, if we bring. This product, to market significantly, lower, than our competition now that was a category hepatitis. C where they used to talk about the, hundred thousand, dollar cure, you might remember a few years ago we. Said let's see what happens if we bring in a drug at a lower price well I think the experiment, that we ran showed, that, a lot of actors in the system would disfavor, a lower list price product, and there's something wrong with a system that operates that way. One. Of the other things in that speech, was. Referring. To present. Trump's notion of it shared by many people that, foreign, governments who run countries and public health care systems take advantage of American consumers because they're able to negotiate, drugs. In bulk effectively, is that is that notion correct, and is this something that you. Can change well. I think, if, you look across the world I think, it's pretty fair to say that there are some countries in the world particularly. Some of the higher. Osed. Countries, in Western Europe that. Actually. Don't pay their fair share of the cost of. Pharmaceutical. Research I think. That's pretty clear, how. We change, that and I just left London where I met with some of the top health officials, and I have, news for the president there, they're not actually interested in paying more for drugs. I mean, they're pretty clear about that they, actually found some of those comments mildly, amusing, as they saying. It's. A real real shocker they didn't want to pay more for them. The. Problem, is though of course if. Americans. Didn't, quote overpay for drugs there. Would be no drugs I mean, that's the sad truth of the. Matter at the end of the day the, only thing worse than Americans. Paying. A very substantial, amount for drugs, is Americans. Not paying a substantial amount for drugs because. If they didn't frankly, we couldn't raise the capital to. Take the risk that we do in Rd. You. You take risk in R&D for some, for. Some diseases that you're. Not planning on making any money on you, mentioned. That today you shipped, Ebola, vaccine for, free to the Congo you, in, the past mo, develops a cure for River Valley fever. What. Is it when. Is it used to go, after these these. Particular diseases, how do you how do you come up with that, so. The way that we think about our. Rd. Enterprise, at Merck is that we're pretty much. Agnostic. To therapeutic. Category, it we're pretty much agnostic. The modality, that is to say we don't say, we want to do a small, molecule.

Or, A vaccine, or a biologic, and, we don't say we want to do this disease or that disease we. Try to follow the scientific, opportunities. That we get and, the reason that we ended up in Ebola was. The work that we were doing in our vaccine, research organization. Really lent itself to doing something about Ebola, at, a time when frankly, we had that last outbreak, in western Africa Sierra Leone Guinea. Liberia which. Killed 11,000. People and made, 25,000. People sick before we got it under control we. Were able to look at some, of the work that had been done pioneering, work, done in elsewhere, and say. The, work that we know how to do inside Merck to sort of purify, the antigen, to make. Sure that we bring forward, the right kinds of steps to go from just, having an antigen, to actually having a full-fledged, safe vaccine what. We do every. We, thought if we took that program over if we pay for that IP if, we brought it in-house there was a good chance that we could do something for, the world and I'm very proud that in the field test that drug that vaccine, has been shown to be so far 100%. Effective. That's. Amazing. And muk. Muk does a lot what it's hard to be more than a hundred percent yeah. Much. Does a lot more for. Causes, and one. Cause I've heard you speak about particularly passionately, is preventing. The death of women in childbirth why. Is this something you're so passionate about all the work is so passionate about so. I you know I think I don't, want to sound like I'm just. A booster for mirth but I will say that the company has as part of its, ethos. The. Concept, that we should be contributing, to humanity and we don't just say well we're contributing to humanity because the. Medicines, and vaccines that, we make actually, have a positive impact I have to say this industry has a lot to be proud of at, the beginning of the 20th century global, life expectancy. Was less than 40 years it's. Now above 70, actually. Driven by the innovations. By, Merck and other companies, but, we don't say because. We invented a measles vaccine, which probably has saved 20 million children's, lives over the last 15, years that, that's all we need to do we, need to also look at those things that we're not required, to do we need to find areas, where we can bring both, our financial, resources, as well, as our scientific, expertise, to bear and we just chose maternal.

Mortality Because. There's. 80, percent. Of women, who died in childbirth die, from preventable causes and. You. Know just to give you some data you know people think this is a problem in sub-saharan, Africa, or India or, other. Poor places in the world in New York City the. Chance that a black woman dies in childbirth is. 12, times, higher, than the chance that a wife won't die. 12. Times higher if. You look across all osed. Countries. In maternal. Mortality the. U.s. ranks, 32nd. Out of 35, countries I mean. That's an amazing. Statistic, so. As we look at those things we, know what to do the problem, in maternal, mortality is, that, we don't have these clear protocols, to, deal with the issues, like hemorrhaging. Like. Spikes in blood pressure like. Sepsis, it, used to be in this country if you had a heart attack you die now you don't die anymore because they're clear protocols, to what to do when somebody presents at. A hospital, the heart attack so, we just decided that we would devote a half a billion dollars, over ten years to seeing how we could reduce preventable, cases, of maternal mortality and, we. Feel good about that but there's also a business benefit, to that because when. We go to recruit, world-class, scientists. That. Come out of academia, those. Kinds, of things are evidence. To them of what, the company really cares, about and, I think it's a tremendous competitive. Advantage, when, people can see the kind of impact that we're having in, areas. Like that. You. Mentioned a truly horrifying, statistic which, is that black mothers are far more likely to die than white, mothers in yes only 12 times more. Is. This is this an example of, institutionalized. Bias, what. What are the factors behind this and what can be done about them so, again in a continent, in a spirit. Of having a nuanced conversation. I won't. Label, it as just. The product. Of institutional. Bias, but clearly, there is institutional. Bias because, the same studies, that show a black woman is 12 times more likely to die than a white finish show. That it almost doesn't matter what the socioeconomic status. Of the black woman is so. Even. When they have insurance even when they present, they. Don't get the same care. There's. Also the issue what happens in their environment, right. And, so so, from my perspective that is, an issue I think in this case because even. If you control, for. Socio-economic. Status. An. African-american woman in New York City with an advanced degree is more likely to die than a reitman without high school degree and I think it's pretty hard to square those things without looking at how, the healthcare system, delivers. Scared of different people. Very. Clearly, issues more broadly in society and. We've. All heard about the opportunities, gap before you mentioned this earlier at the beginning of the interview in, the past I've heard you also mention an access gap for minorities, and business can you unpack this idea a little further for us sure when I talk about the opportunity, gap I mean two things and not get to access gap so, I talked about being bussed as part. Of the experimentation. When I was a young child in Philadelphia, being best to. Majority. Schools white schools let's call them what they were, so. What did that do for me well. When, I was in elementary and middle, in high school I didn't think of myself as a student I went to schools where the ambient, standard. For, education, was very high I didn't, know it was higher than the kids that I were was playing with in my neighborhood, in the summers but, the ambient, standard, was very high so when you took standardized.

Tests You came across as being very prepared. For those things, so. That. Closed one form of opportunity, gap also. When you go into business or in my case into, the practice of law the. Opportunity. To work on the best cases. Isn't. Distributed. Evenly. This, is a stock and trade of lawyers in my case I was very fortunate that. That. The, then General Counsel of Merck took, an interest in me and made sure that I got really good cases, and then I learned attract sophisticated. Cases, and that, made my career, what it is so one, form of opportunity, that was education, the, other form of opportunity, gap is once I arrived in the institution, who got the best opportunities. Inside, the institution then, the third one is this access, gap so, the access, gap is what I would define as being do. People, have access, to the, people in the firm who, can make or break their, career so. I sit before you as the CEO of Merck and the, reason I am the CEO of Merck is that Roy Vangelis who was the CEO. Removed from me took an interest in me, hired. Me in the company I was a lawyer called, me into his office as soon as he got me to sign up and said you, cannot, be a lawyer I said, to him what. Do you mean I'd like to contribute to Merck in my own discipline, his reply, was that's the most ridiculous, thing I've ever heard in my life, we're, in the medicine, business we're not in a legal business and he forced me out of my comfort level and as a result of that I got access, to working in broader areas, of the company as I sit here today I realize. That, I'm the product. Of being given access, to those broader. Opportunities. Inside the company so that is. An important issue there was a there was a New York Times front page story, you might have seen it last fall, that. Said the majority, of both. Men, and women. Are uncomfortable. With close, mentoring, relationships. Between men. And women, well, if that's the case then we're putting women, in a position where they lack the mentorship and the sponsorship, that's, necessary, to be successful. In business and so, we have to be mindful, that. You. Know talent. May be evenly, distributed I, believe it is but opportunities. And access are not evenly, distributed. You're. At the very top now you. Have access to boardrooms. That none of us are able to sit in minority. Under representation aboard, has received a lot of attention for the media in the last few years from. Your perspective from where you sit do you think attitudes, and perceptions in boards is really changing. Though. I have access to a limited. Number of boards of course my board is extremely enlightened. Pete. Wendell's in the front row. No. I do, think I do think that, generally. Speaking the. Conversation. Is. Happening, around boardrooms. About, representation. About. Diversity. I think, that, there still are challenges, so, for example there's a lot of, focus now on recruiting. Women, to boards I'll use that as an example. But. The. Selection, criteria, have. Lagged that conversation. So everybody's, eager, to recruit women to boards but they still say we want CEO, well.

There Are more CEOs with the first name Michael, then there are women CEOs, of Fortune 500, so, if you're going to insist on, women. And saying. That you have to use the same traditional, criteria then. You're at odds with you're actually, intent so I think we, have to open up our minds because, there's talent, everywhere, and I, think we have to be open, but when you have, that conversation, you. Have to guard against the. Reaction, that you're lowering the standards, now you, know we're bringing women into the boardroom but we've lowered the standards. And. In fact actually I think that the biggest, problem. With, boards. Is. Group. Fake and, so, if you get a bunch of people who come from the same background they're. More likely to see this the problem the same way then. People who come from different backgrounds, the, value of my board frankly. Is two, things, they bring varied. Experiences. That are very different from the management, teams including. In the outside, in a view, of Merck and. The other one is that while they are empathetic, they're just not too empathetic so that they don't let us get away with our, so, at, the end of the day you want people who come into the boardroom with very different experiences, and perspectives that's. How you get the best deliberations. You. Remain one of the very few minority CEOs in the fortune 500 yeah. They're three of us out of. 500. We're. All they used to be six of us in. The, happy days the halcyon, days of African American CEOs a few years or a whole six out of 500, now there are three. We're. All hoping to be leaders in the future what, do you want all of us to do to make sure we change this for the better so. I think this issue of, diversity is one of these issues that I started off saying is a very, challenging, and nuanced, issue that, it's really, difficult to discuss in corporate. America, because. What, happens, in the conversation. Inevitably, is. People, say in effect let. Me tell you what my experience. Is and you're, not allowed to challenge my experience. And, that. Leads people to retreat, to different camps to be defensive, to. Engage in the rhetoric of blame which doesn't, solve anything as far as I'm concerned, so I would, say that, for. The young students. Who are here today I hope that you actually, understand. The points that I made about how, opportunity, and access isn't, distributed. And, I, hope that you're willing to take steps to ensure that we close those gaps whether, you're talking about what's. Happening in public schools in our society, whether. You're talking about what's happening, in corporations. I think, enlightened. Leaders, can. Provide, those opportunities I'll, say it for the last time I am, the product of a CEO who. Looked at me and thought that I had much more potential than I ever would have dreamed that I would have had I hope, I've done a good job as the CEO of Merck but, the opportunity, came from somebody, who was willing to invest in me. So. Came before we turn to audience Q&A I got one last huge societal problem for you to solve for us okay. You're. If, you succeed at your job you're saving and growing lives. It's. Obviously a good thing but there's an aging population the Associated, burdens for you yeah, guys I mean you. Know we talked about the cost of the health care system of, our. Drugs. So. That's certainly a challenge, for the healthcare system but the fundamental. Challenge, that our healthcare system, is, chronic, disease. Ninety, percent of the cost in the healthcare system is from chronic disease and chronic, disease. Correlated, with any age so. The goods the good news is with all of these medical advances, people are living longer, longevity. Is a good thing but. When it comes to health care consumption. Longevity. Isn't, a good thing the older people are the, more health care services, they need, and as. A compassionate, society, I would hope the more healthcare. Services we're willing to give them but the aging, of our society. Is a major, challenge, the, economics, of our health care system, in fact some, estimates, are that a third of all health care spending is in the last two months of life. We. Have to think about that, and we have to think about what's the compassionate, and rational, way to deal, with people as they age so. Ken. About half of us here are a second year MBA s we're about to graduate we've. Got a month to go we can have as much fun as possible in that month but soon reality, is going to hit us in the face so it likes P the opportunity to give us some quick words of wisdom. Before. We go in the, form of a lightning, round okay, so I'm, gonna hit, you with two options and then just say, back the one you think is most appealing okay so. Should, we take time finding the perfect job or just get on the ladder I say. Get on the ladder stay. In the US or move to China stay. In the US, go. Into tech or into finance go.

Into Tech. Communication. Should we be blunt or tactful I think, you should be tactful at all times but honest. Is, Bitcoin a bubble or the real deal. Well. Bill Gates's is a bubble, cell Who am I to argue. Beyonce. Or Rihanna I'm, sorry Beyonce, or Rihanna Beyonce. Personal. Philanthropy, should we be giving time now or money later I'd, say both. Really. But, but give, money later. And. That's the question I have this gentleman over here if you have money, you can make a big difference in the world. East. Coast or west coast Oh clearly, east coast. All. Right, especially. Philadelphia. Right. Kids. Now old kids later kids. Later. Gonna. Tell you app too it's an overrated experience when they get to be rich. Enough. To tell me. Given. The state of the world today optimism. Or realism, I see optimism. For, sure and. Finally. The big one LeBron. Or Jordan, no. Question, Jordan. Ladies. And gentleman thank you Bob please, offer me a pac-10, Fraser.

2018-05-22 01:37

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