Is Arrogance Good for Silicon Valley?

REPLAY VIDEO
Your next video will start in
Pause

Recommended Videos

  • Info

  • Comments

  • VIDEO TEXT

Aug. 14 (Bloomberg) -- California Lieutenant Governor Gavin Newsom discusses diversity and arrogance in Silicon Valley on “Bloomberg West.” (Source: Bloomberg)

Francisco mayor and current california lieutenant governor.

Thank you for joining us.

But how did i get involved in this?

This is a lose lose.

Think about the age cohort we are dealing with.

So many people in their 20's. find me an industry, and age cohort within that industry in their 20's were there is not a large percentage of people that think they can dominate the world.

Most of the big breakthroughs you see in the world am i going back to the 1960's and the engineers that got us 45 years ago apollo, most of them were in their 20's. there is an eric and then there is an arrogance -- an arrogance that sometimes comes with age and then there is an arrogance of another kind.

If greed is good for wall street, is arrogance good for silicon valley echo is that what you are saying?

Some of the greatest leaders have changed the world dramatically.

They were not always the nicest folks.

Folks know a lot about mother theresa.

She was not always the most friendly to those closest to her.

Look at real change agents, from gandhi to mandela thomas chavez, king, they were strong-willed and strong-minded people.

Steve jobs was legendary for being strong-minded and strong-willed.

Some people called him evil.

My point is, a lot of are marble people who believe in themselves so much, the folks that really do change the world, do tend to have an arrogance at times, and ability to see through the critics and through their vision.

That is not an unhealthy thing.

Sergei brin, cofounder of google, has said multiple you want to have it all connected to your mind.

And then elon musk.

The holy grail is we would like to make life multi-planetary.

Should we have them fixing things like racism and gender inequality?

But they are stretching our capacity to dream and believe and imagine and that is a healthy thing.

They are pushing past the boundaries of status quo.

I love it.

The idea that i would be driving an electric car is extraordinary.

What is more extraordinary is what esm was spacex.

What month -- what might be extraordinary even still is you might have a round-trip ticket to mars in 10 years because of that doggedness.

Google is a company that has changed the world in so many respects because of that intense passion that sergei and larry have had in the process.

I don't think this is necessarily a bad thing.

This situational context, where people have to be not oblivious to the problems around them.

They have to be self-aware.

Willie brown, another former san francisco mayor, was on the show talking about how the tech community is self-centered.

If they are not necessarily all of them arrogant, are they self-centered?

Are they to self-centered?

There are good people and good politicians and folks in the media.

And then there are arrogant people where you are like, who were your parents?

They exist everywhere.

The guy named craig comes along with a list and the entire newspaper industry did not know what hit them.

And something called itunes.

Virgin, a megastore, didn't know what hit them.

A guy named chuck comes along and all of a sudden, the old fancy strategies around stockbrokers getting $100 for every trade are radically train -- radically changed with e trade and schwab and others.

There is some evidence to suggest that what these people are preaching, they are also practicing.

Something radical is changing.

Something old to something new.

A lot are doing useless things, but there are some doing extraordinary things.

And we ain't seen nothing yet.

You know better than anyone how much the tech amenity is doing to help the rest of the community.

Are they doing enough?

No, not even close.

Everyone singled out marc benioff at salesforce, but no one else gets the kind of praise.

Because mark is extraordinary.

He is exceptional in his approach to call out his friends and colleagues to do more and be better in terms of reconciling this fundamental fact -- businesses cannot thrive in a world that is failing.

We are all better off when we are all better off.

That fundamental value is something he believes in and preaches and actresses not only in his company, but individually.

And on that perspective, he's having an impact.

A lot of folks are having private conversations that, trust me, they would not have had if he had not called out for a much more enlightened approach to deal with real world problems.

And not just to go public and make $10 -- $10 billion or $20 billion, but really figure out how to interview back and make society better.

You are seeing it a backlash in a context that is understandable.

You're seeing people like marc benioff trying to get out ahead of it.

Some are saying, we are creating jobs and people should just calm down, because we are job creators, which some people in the tech and unity have instructed as -- the tech community have instructed as an approach.

I think you will see more marc benioffs in the future.

We just heard that rent in san francisco will be the highest in the country by next year.

People are getting pushed out of the city, 98-year-old women getting pushed out of the city.

They are getting evicted by people who often made their money in technology.

What is the solution?

Just an easy question for you.

Yes, an easy question.

I dealt with this as supervisor, as mayor we had the dot com boom and that's. you don't want to stifle that success, but you have to protect those that cannot necessarily participate in that success.

That is why san francisco has the highest nonwage and we will increase that again soon.

It has the only universal health care, regardless of pre-existing conditions.

It has very aggressive strategies to deal with affordable housing and inclusionary housing, and it has strategies to protect nonprofits and deal more substantively with a more affordable housing trust the mayor is promoting.

But all of that is not good enough to deal with this gatsby curve we all recognize not just in san francisco, but across this country.

Social mobility and the growing income inequality.

I would like to see the tech community begin to orient themselves around strategies to focus substantively on those things.

As we connect evil, we connect -- as we connect people, we connect people to great ideas.

But a lot of people are can i -- competing in the ice bucket challenge.

Is that a solution echo no, but that is good viral philanthropy.

Als is an important study.

But how was it?

It was freezing.

But people don't live long enough with als, so this is an appropriate response to the problem.

But it is an example of where i think you are right -- a viral, technology platform thinking, civic engagement, more choices.

The tech immunity can begin to solve these problems.

I think i have a video of you.

California governor gavin newsom, always great to have you on the show.

Coming up, edward snowden claims

This text has been automatically generated. It may not be 100% accurate.

Advertisement

BTV Channel Finder

Channel_finder_loader

ZIP is required for U.S. locations

Bloomberg Television in   change