he is also something of a pragmatist politically, don. and so he has looked at it in 2016. when hillary was the nominee, i think he said i'm good with that. he looked at it early in 2020, looked at the field, said i don't know that i can win. well, he's reassessed it and now looks at what i think is basically this dynamic. joe biden is the establishment front-runner. joe biden, whether it's in polling or in fundraising, is headed in the wrong direction. and in many people's eyes, the replacement is a mayor of south bend, indiana, pete buttigieg. there's doubt whether buttigieg can fill that gap. enter bloomberg. if joe biden was riding high, $35 million left to spend in this race, ahead in iowa or new hampshire, bloomberg doesn't get in. bloomberg sees an opening. he wants to be president. so he takes it. >> right.