Outreach department inside the white house. I think its an Intergovernmental Agency outreach, scott, where we will be talking to state and local governments. Its a business outreach, businesses large and small. Trade associations, but i think we want to do is we want to execute a plan out of that office where people feel that they have a friend and advocate inside the white house that will help them. The cornerstone and the prism that were going to look through everything through i should say more appropriately, is small businesses, middle class families, working class people. What can we do from the administration to help those people in the United States with wages, opportunity, retake the aspirational side of being in a working class like, you know, our parents were. People have likened your role to what Valerie Jarrett is doing for president obama. You have even used that same terminology. Youre going to meet with her, in fact, today. I think what i said last week when the role leaked out is i think its a little bit of an over Statement GivenValerie Jarretts close relationship with president obama. Not that im not close to president elect trump but we have a whole team of people that i would say are also close to him. So i dont want to over ste my position there. I will be meeting with valerie and some of her teammates over at the white house. You may remember meeting her at the salt conference a few years ago. We struck up a Good Relationship and a fondness for each other p i would say about valerie is shes a patriot first and partisan second. And she has offered and turned the keys over to me to give me the help that im going to need to hit the ground running. Which we expect to be doing at like 2 00 in the afternoon january 20th. So you lay out the differences of what your jobs will be. You mentioned that there are many people who are close to the president. So you have a stay in your exact lane here. You and i know each other a long time. I like staying in my lane, staying in my core competency. I also, you know, i worked on the transition for the president elect. I often said to people coming in here i want to take my ego and put it in a jar in the pantry. Lets help the most amount of people with the least amount of drama. What should the Business Community and ceos expect from President Trump . Lets put president elect, campaigner trump behind us and hes going to move into the oval office on january 20th. I think the coe rz thrilled. I think some of them who didnt vote for him are coming around. We just saw Lloyd Blankfein from Goldman Sachs, theres a spirit of optimism. I was at 48 hours ago i was in davos, switzerland. I met with ceos, all of which are super positive about president elect trump. We had the monsanto guys last week and their are excited. They say, wow, we have a business advocate, someone with a horse sense for business, commercial instincts. Recognize that we can do good, make profits at the same time, grow the economy, and central to all of this, help working class families and middle class people. There must be some unease though in the Corporate Community with what theyre going to get from this president. Yeah. You look at what the market has done since the election. Sort of ripped higher. You used to sit with us often and talk about the markets and why theyve reacted certain ways around the relationship with politics. I just wonder, just given what the markets have done as it had this great advance and hit a pause and now the dow is at a sixweek low. If that reflects some of the trepidation about what the administration is actually going to do. I said this yesterday in davos. Any time that you have some level of disruptive change theres some natural anxiety, scott, because what people do is they like habits, they like uniformity, and they like consistency. So you now have an entrepreneur at the top of the food chain thats going to be running the american government. So with that i think one of the roles that were all going to have working for him is to just let people know thats going to be totally fine. If anything, its going to be disruptive change for the better. If you think about the dow for an example. Just look at the tax cut proposals that Speaker Paul Ryan and president elect donald trump have which will likely to implement in the next six to ten months. Those tax proposals will yield earnings, not just at the s p 500 but to businesses large and small throughout the United States. Wilbur ross and i were talking about this. What companies do you and i know that are going to grow at 30 next year. The answer is just about every company in terms of the profitability if we can get this tax cut put through. And the market has reacted. Absolutely. Ray dall you was on with our gang at davos this morning. I saw him yesterday. Said the market reacted to what he called the obvious. We expect deregulation. We expect some of these tax changes to come into effect. Sort of the next step is more of the unknown. Lets listen to what he had to say and react to it on the other side. Heres ray dalio in davos. I think the real question is what is a Trump Administration is it going to be wise and thoughtful and well calculating . So when you have Something Like the border tax, is the border tax on, is the border tax off . Is that going to be worked out in intelligently . How will the 1. 3 trillion that was supposed to be raised in the border tax and then pay for other taxes, where will that come through . Were at the stage that weve made the initial reaction to that. But now how these people Work Together and actually operate . And then theres geopolitical issues. There are questions in terms of geopolitical. So this is an interesting question. Is it going to be a thoughtful president or an off the cuff president . Well, see, i actually think that its a combination . Some of the off the cuff thing is pretty well planned. He is one of the most thoughtful disciplined people that i know. Hes a great decision maker. Hes also a great delegator. He knows what decisions he needs to make himself personally and he lets his staff make some of the other decisions. I think on situations like this i think he will be in the war room really trying to dillen nate whats going to happen. I have to tell you in the nine months that bif nn in this caldron with him, when i find him in that situation, hes dispassionate, hes analytical, hes inquiz tive and i would put ray dalios concerns at ease because i think when we lay out the plan and we lay out the full configuration of the plan, american businesses large and small are going to say, whoa, this is a really good Incentivized Program to create jobs, create growth, opportunity, and one of the things we really need is consumption. Weve got to get the middle class and lower middle class who have seen wage declines over the last ten years. Yes, you and i know that they printed wage growth in the last two quarters but if you measure it over the last ten years, disposable income for working class families and middle class families are down, scott. We have to put a plan in place that ignites that. That will lead to global growth, it will lead to global opportunity and also gdp growth in the United States. How much credit do you think the president elect deserves for whats happened in the stock market since election day . You know, i would say big league credit. Did i say that right . I think he deserves it. At tend of the day what you find from him is the psychology has changed in the United States. Investor psychology has changed. The Consumer Confidence numbers are through the roof. Its him and his team that are really bringing together a package of services where people say, whoa, regulations are going to be good. Theyll make us safe. But theyre not going to be overdone to the point where something is restrictive. Just look at the dodd frank situation right now. Community banks are strangled in terms of their ability to lend. That is good for the Community Banking failure side of the component thing. But its not good for small businesses. We need to set the regulations up in a way where there might be one or two failures but theyll never be any systemic banking failure. Thats sort of the common sense approach that the president elect is bringing to his team. Thats sort of the Mission Statement that hes bringing to all of us that execute over the coming months. Its exciting time. Part of the point i guess dalio makes is the ledge lative process in and of itself is messy. Who knows exactly some of these ambitious programs or tax cuts or deregulation is really going to happen. The process of wanting it to happen and then actually getting it through could take some time. And i absolutely agree with that. And i think what as an entrepreneur you have to begin the process of adaptation coming to washington, where washington has been set up and designed by our founder, scott, to be slow in terms of its movement. And so there are certain things we can do right away from the executive branch. There are other things were going to need to negotiate up on the hill. And ill just use an affirmation that Ronald Reagan said, if you go for 100 you may not get it but lets shood for good government, 80 20 and get a great out outcome for the ameri people. How do you think this president is going to be viewed globally. You hosted a panel in davos in which you said of President Trump, quote, could be one of the last great hopes for globalism. Yeah. Others look at this president and they view some of the rhetoric and say, this is not a globalist, this is a protectionist. But hes not. Hes not a protectionist. Its an interesting turn of phrase. It was used in a headline and what i mean by that, the America First strategy that the president elect has put in place is actually very good for the global the economy because if we can focus on middle class people, middle class wage, working class people, ignite that consumption cycle with the fed calls, virtuous circle of consumpti consumption, you will see greater than expected growth in the u. S. The United States is still 23. 6 of the worlds gdp. That lift, okay, well pull the world out of this deflation their specter weve seen. My point b yesterday in the Davos Community is lets get outside of the elite bubble that all of us seem to be living in. Lets go out into the people, whether theyre in france or great britain, and understand the working class struggle thats out there and lets figure a way to create jobs, opportunity, good policy that lift those people up, scott. When we do that, that process will actually lead to more global opportunity. I would say the president is not a protectionist. All hes looking for is free trade deals that are fair and symmetrical to the United States. If we get that done, in some ways thats going to be better for the Global Economy than the current configuration which is not going to last. Some of what you were doing in davos was sort of frame or written as trying to put some of these international fears, if you want to call them that, at ease. Let me play you a sound bite from Larry Summers who was on with us as well. Id love your reaction to what the former treasury secretary had to say. Heres Larry Summers. I think it needs to be recognized that the consequences of rhetoric so far has been a 15 appreciation in the mexican peso that makes every business decision 15 more favorable to mexico relative to ohio, and thats a big step against the economic interests, against the workers who are an important part of the president elects constituencies. How do you respond to that . I think hes making a good point about where the direction of the mexican peso is but i think the point that professor summers is leaving out is lets give it a little bit of time to see our plan get execute and have that plan evolve. I think a couple of things that i said yesterday which i will predict, i think the United States will have an even better relationship with mexico one year from now than we do today. I think people sometimes underestimate the effect mr. In terms of his ability to read people, see people in the way that can create a spirit of a winwin situation between not only the two people but the two nations. And so it is a situation the mexican peso right now. The dollar has gotten stronger. I did point out yesterday and i point out today that there had been strong dollar, great economies in the United States in the 1980s. We had a strong dollar, great economy. Im not going to comment on the dollar per se. Its not my purview to do that. Some would say its not necessarily the president s purview or the president elects purview either but yet he did, right . Wall street journal covered, dollar sinks as trump talks it down. Its more of his purview than my purview. Its good word. I dont want to talk about the dollar. Its not something that i can control and lets let the market control that. Heres what i know about the plan. We execute this plan and we get most of it right and were in washington so lets not say were going to get 100 of it right but if we get 80 of it right, 18 months from now people are going to be scratching their heads where youre going to see wage growth, big opportunity in the United States, disposable Income Growth which will lead to more consumption and all of is a a. Sudden the Global Community will look and say, wow, donald j. Trumps administration is really for the positives and what we can do in the world together which is more commerce, Higher Standards of living, and lets lift some of these people out of poverty. We mentioned china in terms of the type of trade relationship that we have now and the one that you think we need going forward, one with more symmetry is the word that you used. Id want to ask you personally. Youve sold sky bridge. Yeah. To a chinese consortium. How much of that do you think, if any, is china wanting to get closer to the administration through someone like you . You know, i love the way the papers like report this stuff. So there are two investors in the skybridge equity stake now where my equity stake has been fully and cleanly taken out. No earnouts, no nothing. Im fully cashed out of skybridge and i incumbering myself from those business relationship . The two entities buying skybridge, one is hna capital, u. S. Based company run by United States citizens in con junction with Trans Atlantic Holdings bying. Jor george corning, ran deutsche banks Asset Management company, is going to come in and help our Management Team grow the business. Certainly the hna piece is owned by a chinese conglomerate base in beijing. I think these guys are as careful and circumspect as i am in making sure its a full separation and its a bad pun but a chinese wall between me and them pull i know that. They know that. Theyre looking at this as potential Growth Opportunity for them and the United States. I probably shouldnt say this but i think we built a pretty good brand, skybridge capital, and that is going to be an american brand. It will be have an international tie. Theres offices in korea, an office in london. But ultimately this is an american centric business that we built. 200 plus billion is the price tag, i would say thats a decent business that youve built. Yeah, a nice size business. People forget its 41,000 clients, very, very diversified. Its got a great distribution engine. Jay con wright who has been my partner for 12 years, shoutout to jason, built an incredible sales and distribution mechanism. You can take the pipes and plumbing that we built with all the platforms around the world and in the United States and sell a ton more product. People like to quibble about the fact that its a fund to funds, what people are forgetting becreated a burqa bag. For 25,000 or 50,000 the local dentist can getting access to some of the brightest hedge funds in the world, dan loeb and people like that, through skybridge. They get those people with the full risk Management Team, a qualitative and quantitative assessme assessment. When you look at the business the way we designed it, we had three or four suitors for that business. We chose that group because we thought it was the best group to maintain the conversations newtity and stability for the employees, make the customers very happy, make our Platform Providers very happy. And the only thing im upset about is that im giving up the opportunity cost to be a part of that experience over the next five years. The president elect, he gave me my salary last week. I think its one u. S. Dollar. So im a little saddened by that. Youre doing okay. Do you think in any way that this conglomerate was attracted to you and skybridge as a result of your closeness with the president elect . Listen, i really dont think so. This was a marketbased transaction and this was a transaction designed to sell it to somebody that had an interest in growing a u. S. Based platform. There were other suitors. I made sure that this was a fair and free market transaction. But i also had to do something that ill thought was important for my clients and my staff. And so you can sit here and say, me, because i would be getting a question like that from the media about it being a chinese affiliation