Wendy Schmidt's Battle to Keep Our Oceans Clean

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Sept. 9 (Bloomberg) -- Wendy Schmidt, president of the Schmidt Family Foundation, and Dr. Peter Diamandis, co-founder and chairman of Singularity Univeristy, discuss the battle to keep the oceans clean on Bloomberg Television's "Bloomberg West." (Source: Bloomberg)

Bunje and wendy schmidt, sponsoring the project with her husband eric schmidt from google.

I asked who competes for these prizes.

This is a crowd sourcing way of solving a problem.

Students, people in garages.

We had a tattoo artist on the back of a cocktail napkin who made it to the finals.

You do not know where innovation will come from.

Industry is good at creating innovation sometimes.

You can look at apple, google, entertainment systems.

Scientific research is often wanting.

There are things on drafting table that have never had any marketing demand.

A prize like this helps bring those people out.

What is the commercial value of this kind of technology?

It is huge.

If you think about it, the analogy that i use is that we have an entire atmospheric atmosphere -- whether monitoring that helps you track rainfall.

To be able to understand how good the weather is going to be and how good it affects your crops, it is huge.

We need that for the oceans as well.

The oceans is a huge industry for fisheries and the environment of our old planet.

That is a huge potential.

Your passion is helping the planet.

How do you choose out of all the causes and what is next?

Eric and i both believe in transformational change.

We booked -- we need breakthroughs in so many areas, around the oceans in particular.

I am a sailor and a diver.

I witnessed this first hand.

If i was the ocean, i would feel like i was under attack.

My chemistry would be changing.

Hospitality for for all the creatures who inhabit this world is changing.

It could not come soon enough.

It is very important for us to feel connected to the ocean in a way that i did not when i was growing up in new jersey.

I did not feel connected to it at all.

Every child growing up in the world today needs to understand that this is our planet.

It is a single system.

It is not a fishery or a gulf spill, not just something in japan, it is part of a system.

Speaking of that, i was going to ask you about your passion, innovation.

I am passionate about innovation.

What i get right now more than ever before is that entrepreneurs can do what large companies could only do before.

If you are anyplace in in the planet, you have access to nearly infinite computing on the cloud.

You have access to 3-d printing.

You have access to synthetic biology, all kinds of tools that never existed before.

The question becomes, can you gain access to those tools and do something that can help solve one of the world's biggest problems?

The world's biggest problems are the world's biggest market opportunities.

This is a huge opportunity for someone.

This is a call out to the folks in the valley here, entrepreneurs around the planet, solve this problem.

What is your opinion about the level of innovation in the valley right now?

Some people have said that they do not think real innovation is happening and people are not thinking big enough.

I think peters point us way off base here.

We will see so much capability.

You look at the breakthroughs occurring in 3-d printing, ai, digital medicine.

All of these areas are coming together to enable more and more people to innovate.

It used to be that the people in the valley had access to technology.

Now, as we are going from 2 billion people to 5 billion people online around the world, someone in the middle of mumbai who has access to ghouls cloud -- to google's cloud has more access -- has access to more internet power than the u.s. government did in the 1950s. we are at the microscopic beginning, the explosion of innovation.

Would you agree?

You have been following this more closely than anyone.

I am an optimist.

When we met , we have the computing power that we have in the palm of our hand today.

I believe that we can transform the world and the way that we do everything and also the way that we see it.

When we did the oil spill cleanup and i spent time with the team and the competition, they were not motivated by the money specifically.

They were often motivated by the desire to break through and make a difference in the world.

I think people want to do that.

What do you guys think of -- he is an investor, a friend.

What i love about elon, he has -- i think the technical term is cajones.

He is taking on three multibillion-dollar industries.

He is winning at all of them.

Something like the hyperloop , he put something like that out when it is right now totally unrealistic.

He is not actually going to work on it.

It is just an idea.

It is fantastic.

I drive a tesla and i feel like i am driving a computer.

My car stays cleaner because it does not have all the fossil fuel sticking to the bottom of it, picking up the road dirt.

Is there value in the exercise?

Of course there is.

When o elon originally hinted at it, people say, go do this.

And he is busy.

He put the idea out there.

If someone else wants to pick it up, pick it up.

People have made extraordinary wealth in technology and are now able to start attacking and solving grand challenges.

We should all be doing that.

You talk about the giving pledge , forget about that.

People should have an impact pledge.

I am pledging to impact and change the world in the following specific ways.

That is what we should be talking about.

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

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