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Sat down with Microsoft chairman Bill Gates of the doubles World Economic Forum.
Stewart breaking includes the bathrooms flooded at the Congress Center and got both.
Just as I was talking to Bill Gates that -- back at least part of the basement.
Luckily I don't talk about environmental risks here but get to the big news of the day yes Bill Gates has just announced that the Bill & Melinda Gates Foundation the largest.
Private charity is going to double in the next ten years the amount of money -- actually that it has given.
To childhood vaccines because they absolutely feel that they can set save millions and millions of lives they're going to go from four point five billion of the past ten years.
Billion dollars for vaccines vaccine development he flat out told me we will in our lifetime.
Have a vaccine for malaria I began by asking him -- you're a business -- -- the first chunk of the money go initially listen -- Petroleum three categories one is to increase the coverage of actions we have from 79%.
To get it up to 90%.
The second is to take the vaccines that are already out and used in rich countries.
And get those available for poor children -- has even more impact.
And then finally which would be the largest category.
Is funding discovery of new vaccines.
Malaria vaccine would've been good progress TB vaccine aids vaccine let's go that the US.
Deficit the budget the economy talked about this in your annual shareholder letter what -- -- as it pertains to looking forward and pulling ourselves out of this hole.
-- the economy is starting to come back and I don't have the crystal ball let that -- will it take.
Two years three or four years to be fully.
Back where we were I do think that continued generosity during this time makes sense and the president committed the double laid.
You know we're hopeful that we'll take place many countries like UK have had substantial increases even as they have a and even -- budget situation you also talked.
That innovation in this letter saying that that's what will really pull us out of things like -- recessions.
Is that in essence to say that it's really private enterprise that is the best job creator vs the government.
Alien invasion is how we can explain.
That a hundred years ago we lived half as long you know our -- was terrible -- literacy rate was terrible.
It's a -- the government funded a lot of basic research but really implement enacted in the products out on the private sector does most of that.
And that's why in our foundation activities we're partnering with companies call -- creative capitalism.
Whether it's vaccine companies food companies banking companies.
Getting them to put some of their energy on on the needs of the -- so the private sector.
Big part of where the expertise is about where.
The the economic improvement will largely come from.
I find -- so interesting to look at somebody like you who in your previous life for a second call -- that was a killer competitor on the business landscape.
Yet not meaning to make it sound like it was an overnight progression but you've now progressed.
To really looking forward to this foundation and focusing solely on vaccines.
It is the message that you don't.
When you make a lot of money in the last and you do really -- this is what your friend Warren Buffett says -- that you in great part -- much of that back to society.
We'll certainly -- -- out I believe about.
There's so thread of continuity.
Work -- Microsoft my foundation work which is investing in innovation and you know the week you win.
Market share there -- -- coming out of great software products and so about what Microsoft's all about.
The way you win in this new world is by backing scientists who come up with a new vaccines.
And -- -- annual letter that came out early this week.
Talks about innovation is the thing that you know I've always been -- -- and innovation I've had to learn new areas.
You know there's some dead ends were willing to take risks but it it's not all that different it's just.
Taking that resource of -- society that Warren.
It's been generous to us with -- -- I was -- -- -- -- and making sure they go back with the most neediest but the highest.
Wolf course Warren Buffett gave -- thirty billion dollars to your foundation doubling its muscle.
Do you tellem an -- of an announcement like this and what did he say -- -- always giving good advice and.
He's a trustee for the foundation he's the -- -- but the idea of doing an annual letter and so I.
Should have been dropped about it and talked about.
And you know he's he's on his advice is amazing now my letter I'm not as funny as he is.
I think it's is.
You know you're trying to give me a lot of help and you're -- on Twitter now I'm following you.
What do I think about.
Well I want share with young people these issues because I think they care a lot.
I want to get more feedback about things that are seen they think I should know about.
So I've got Twitter I've got a web site -- gates notes and FaceBook page so.
You know course it makes sense to me that -- try to use the digital world degrees out are you following anybody on Twitter.
Oh sure I follow up.
A copy alliance that does vaccines -- follow a lot of interesting people -- you know -- kind of -- back and forth where.
You meet new people and -- each other.
Hey -- he is using new media -- to get his word out but of course the big news.
He in the gates foundation will spend ten billion in the next ten years that absolutely believe that they can eradicate for example polio.
Which used to be in hundreds of countries and now is really just -- a handful of countries so they're looking to focus on that to save as many lives as possible and he was quite clear he wasn't gonna talk about business or too much of the political round as well.
He wanted to get this word out about -- -- it's a classic -- -- story but.
You know since we -- on the economy a bit and talking about what he sees for the future he's always pretty much optimistic Stuart.
-- didn't dot Russell senate back to you.
But yet you know what -- -- like that lives on like the concept of massive generosity on I think our company likes it too I mean ten billion dollars from a private citizen.
Not routed through the tough to -- -- -- the United Nations about ten seconds for common -- it's it's the best thing I've heard that bet.
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